Search results for: Islamic economy

Authors: Andra Blumberga, Uldis Bariss, Anna Kubule, Dagnija Blumberga

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European Union Energy Efficiency Directive provides a set of binding energy efficiency measures to reach. Each of the member states can use either energy efficiency obligation scheme or alternative policy measures or combination of both. Latvian government has decided to divide savings among obligation scheme (65%) and alternative measures (35%). This decision might lead to significant energy tariff increase hence impact on the national economy. To assess impact of alternative policy measures focusing on energy management scheme based on ISO 50001 and ability to decrease share of obligation scheme a System Dynamics modeling was used. Simulation results show that energy efficiency goal can be met with alternative policy measure to large energy consumers in industrial, tertiary and public sectors by applying the energy tax exemption for implementers of energy management system. A delay in applying alternative policy measures plays very important role in reaching the energy efficiency goal. One year delay in implementation of this policy measure reduces cumulative energy savings from 2016 to 2017 from 5200 GWh to 3000 GWh in 2020.

Keywords: system dynamics, energy efficiency, policy measure, energy management system, obligation scheme

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Authors: Dessie Tibebe, Muluken Asmare, Marye Mulugeta, Yezbie Kassa, Zerubabel Moges, Dereje Yenealem, Tarekegn Fentie, Agmas Amare

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The performance of electrocoagulation (EC) using Aluminium electrodes for the treatment of effluent-containing chromium metal using a fixed bed electrochemical batch reactor was studied. In the present work, the efficiency evaluation of EC in removing physicochemical and heavy metals from real industrial tannery wastewater in the Amhara region, collected from Bahirdar, Debre Brihan, and Haik, was investigated. The treated and untreated samples were determined by AAS and ICP OES spectrophotometers. The results indicated that selected heavy metals were removed in all experiments with high removal percentages. The optimal results were obtained regarding both cost and electrocoagulation efficiency with initial pH = 3, initial concentration = 40 mg/L, electrolysis time = 30 min, current density = 40 mA/cm2, and temperature = 25oC favored metal removal. The maximum removal percentages of selected metals obtained were 84.42% for Haik, 92.64% for Bahir Dar and 94.90% for Debre Brihan. The sacrificial electrode and sludge were characterized by FT-IR, SEM and XRD. After treatment, some metals like chromium will be used again as a tanning agent in leather processing to promote a circular economy.

Keywords: electrochemical, treatment, aluminum, tannery effluent

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Authors: Iveta Nováková, Martin-Andrè S. Husby, Boy-Arne Buyle

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The building industry has one of the most significant contributions to global warming due to the production of building materials, transportation, building activities, and demolition of structures when they reach the end of their life. Implementation of circular material flow and circular economy can significantly reduce greenhouse gasses and simultaneously reduce the need for natural resources. The use of recycled concrete aggregates (RCA) is one of the possibilities for reducing the depletion of raw materials for concrete production. Concrete is the most used building material worldwide, and aggregates constitute 70% of its volume. RCA can replace a certain amount of natural aggregates (NA), and concrete will still perform as required. The aim of this scientific paper is to evaluate RCA properties with and without mechanical treatment. Analysis of RCA itself will be followed by compressive strength of concrete containing various amounts of treated and non-treated RCA. Results showed improvement in compressive strength of the mix with mechanically treated RCA compared to standard RCA, and even the strength of concrete with mechanically treated RCA in dose 50% of coarse aggregates was higher than the reference mix by 4%. Based on obtained results, it can be concluded that integration of RCA in industrial concrete production is feasible, at a replacement ratio of 50% for mechanically treated RCA and 30% if untreated RCA is used, without affecting the compressive strength negatively.

Keywords: recycled concrete aggregates, mechanical treatment, aggregate properties, compression strength

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Authors: Odeh Ibn Iganga

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Globalization as a process is gradually taking mankind along a uniform path of ‘one world, one destiny’ whether coercively or voluntarily. As a phenomenon, it is gradually ascending the status of the New World Order ideology, questioning the fundamental assumptions of the state -centric system- independence, sovereignty, equality of states, non-interference in internal affairs etc. by the demands it makes of, and the attendant consequences upon all nations, especially the less developed and weaker states of the Third World. Thus one of the raging and contentious issues in contemporary development discourse is whether globalization comparatively favors developing economies of the third world countries generally and Africa in particular. Narrowing the issue home also is the contentious issue of whether globalization comparatively favors a developing economy like Nigeria. This paper examines the impact of globalization on the economic and cultural development of Nigeria (given her active and continued participation in the global process spanning a period of about 3 decades now). It reveals the negative and positive consequences of the process and concept of globalization on the economic and cultural development of Nigeria adjudging the country did not benefit much from globalization. The paper then recommends measures as to how the negative consequences could be reduced considerably and to make Nigeria benefit maximally from globalization.

Keywords: globalization, developing countries, economic and cultural growth, third world

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Authors: Kushal Kumar Chode

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Increase in demand for fuel saving and demand for faster vehicles with decent fuel economy, researchers around the world started investigating in various passive flow control devices to improve the fuel efficiency of vehicles. In this paper, A roof fairing was investigated for reducing the aerodynamic drag of a bluff body. The bluff body considered for this work is Ahmed model with a rake angle of 25deg was and subjected to flow with a velocity of 40m/s having Reynolds number of 2.68million was analysed using a commercial Computational Fluid Dynamic (CFD) code Star CCM+. It was evident that pressure drag is the main source of drag on an Ahmed body from the initial study. Adding a roof fairing has delayed the flow separation and resulted in delaying wake formation, thus improving the pressure in near weak and reducing the wake region. Adding a roof fairing of height and length equal to 1/7H and 1/3L respectively has shown a drag reduction by 9%. However, an optimised fairing, which was obtained by changing height, length and width by 5% increase, recorded a drag reduction close 12%.

Keywords: Ahmed model, aerodynamic drag, passive flow control, roof fairing, wake formation

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Authors: Pradipta Chandra, Titas Bhattacharjee, Bhaskar Bhowmick

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The foundation of economy in India is primarily based on agriculture while this is the most neglected in the rural setting. More significantly, household women take part in agriculture with higher involvement. However, because of lower education of women they have limited access towards financial decisions, land ownership and technology but they have vital role towards the individual family level. There are limited studies on the institution-wise training barriers with the focus of gender disparity. The main purpose of this paper is to find out the factors of institution-wise training (non-formal education) barriers in technology transfer with the focus of participation of rural women in agriculture. For this study primary and secondary data were collected in the line of qualitative and quantitative approach. Qualitative data were collected by several field visits in the adjacent areas of Seva-Bharati, Seva Bharati Krishi Vigyan Kendra through semi-structured questionnaires. In the next level detailed field surveys were conducted with close-ended questionnaires scored on the seven-point Likert scale. Sample size was considered as 162. During the data collection the focus was to include women although some biasness from the end of respondents and interviewer might exist due to dissimilarity in observation, views etc. In addition to that the heterogeneity of sample is not very high although female participation is more than fifty percent. Data were analyzed using Exploratory Factor Analysis (EFA) technique with the outcome of three significant factors of training barriers in technology adoption by farmers: (a) Failure of technology transfer training (TTT) comprehension interprets that the technology takers, i.e., farmers can’t understand the technology either language barrier or way of demonstration exhibited by the experts/ trainers. (b) Failure of TTT customization, articulates that the training for individual farmer, gender crop or season-wise is not tailored. (c) Failure of TTT generalization conveys that absence of common training methods for individual trainers for specific crops is more prominent at the community level. The central finding is that the technology transfer training method can’t fulfill the need of the farmers under an economically challenged area. The impact of such study is very high in the area of dry lateritic and resource crunch area of Jangalmahal under Paschim Medinipur district, West Bengal and areas with similar socio-economy. Towards the policy level decision this research may help in framing digital agriculture for implementation of the appropriate information technology for the farming community, effective and timely investment by the government with the selection of beneficiary, formation of farmers club/ farm science club etc. The most important research implication of this study lies upon the contribution towards the knowledge diffusion mechanism of the agricultural sector in India. Farmers may overcome the barriers to achieve higher productivity through adoption of modern farm practices. Corporates will be interested in agro-sector through investment under corporate social responsibility (CSR). The research will help in framing public or industry policy and land use pattern. Consequently, a huge mass of rural farm-women will be empowered and farmer community will be benefitted.

Keywords: dry lateritic zone, institutional barriers, technology transfer in India, farm-women participation

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Authors: A. O. Arowolo, M. U. Agbonlahor, P. A. Okuneye, A. E. Obayelu

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Nigeria is rich with abundant resources with an immense contribution of the forest resource to her economic development and to the livelihood of the rural populace over the years. However, this important resource has continued to shrink because it is not sustainably used, managed or conserved. The loss of forest cover has far reaching consequences on regional, national and global economy as well as the environment. This paper reviewed the Nigeria forest management policies, the challenges and willingness to pay (WTP) for management of the community forests in Ogun State, Nigeria. Data for the empirical investigation were obtained using a cross-section survey of 160 rural households by multistage sampling technique. The WTP was assessed by the Dichotomous Choice Contingent Valuation. One major findings is that, the Nigerian forest reserves is established in order to conserve and manage forest resources but has since been neglected while the management plans are either non-existent or abandoned. Also, the free areas termed the community forests where people have unrestricted access to exploit are fast diminishing in both contents and scale. The mean WTP for sustainable management of community forests in the study area was positive with a value of ₦389.04/month. The study recommends policy measures aimed at participatory forest management plan which will include the rural communities in the management of community forests. This will help ensure sustainable management of forest resources as well as improve the welfare of the rural households.

Keywords: forests, management, WTP, Nigeria

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Authors: Ivana Bulog, Ana Rimac Smiljanić, Sandra Pepur

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The financial fragility of households has received increased attention following the recent health crisis, which has created uncertainty and caused increased levels of stress and consequently impaired individual and family well-being. Job losses and/or reduced wages and insecurity increased the number of people that were unable to meet unexpected expenses, which, in many cases, led to increased household debt levels. This presents a threat to the stability of the financial system and the whole economy; therefore, reducing financial fragility and improving financial literacy present challenges for academicians, practitioners, and policymakers. Concerning financial fragility, significant research attention has been devoted to financial knowledge and financial literacy. However, apart from specific knowledge, personal characteristics are of great importance in making financial decisions in the household. Self-efficacy is one of the personal non-cognitive attributes that is a valuable framework for understanding how household financial decisions are made. Thus, this research proposes that individual levels of financial literacy and self-efficacy are related to the indebtedness and financial instability of the household. The primary data were collected using a structured, self-administered online questionnaire, and a snowball sampling method was applied to reach the participants. Preliminary results confirm our assumptions on the influence of financial literacy and self-efficacy on household financial stability.

Keywords: financial literacy, self-efficacy, household financial fragility, well-being

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Authors: Lisandy A. Suryana, Lidia Mayangsari, Santi Novani

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Creative industry in Indonesia become an important aspect of the economy. One of the sectors of creative industry which give the highest contribution toward Indonesia’s GDP is fashion sector. In line with the target of Indonesia in 2020 to be the qibla’ of moeslem fashion of the world, all of the stakeholders of the business ecosystem should collaborate. Rather than focus on the internal aspects of producer, external aspects such as customers, government, community, etc. become important to be involved in the ecosystem to support the development and sustainability of those fashion sector. Unfortunately, although Indonesia has the biggest moeslem population, the number of hijab business penetration only 10%. Therefore, this research aims to analyze and develop the virtual co-creation platform for hijab creative industry as the strategy to achieve sustainability and increase the market share. This preliminary research describes the main stakeholders in the hijab creative industry based on business model approach. This business model is adapted by considering the service science context, and the data is collected by using the qualitative approach especially in-depth interview. This business model shows the relationship between resource integration, value co-creation, the value proposition of the company, and also the financial aspect of the business.

Keywords: value co-creation, Hijab Fashion Industry, creative industry, service business model, business model canvas

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Authors: Taimoor Hussain Alvi, Syed Toqueer Akhter

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The focus of this research is to identify Pak-India bilateral trade spillover effects upon Pakistan’s Growth rate. Cross-country spillover growth Effects have been linked with openness and access to markets. In this research, we intend to see the short run and long run effects of Pak-India Bilateral Trade Openness upon economic growth in Pakistan. Trade Openness has been measured as the sum of bilateral exports and imports between the two countries. Increased emphasis on the condition and environment of financial markets is laid in light of globalization and trade liberalization. This research paper makes use of the Univariate Autoregressive Distributed Lagged Model to analyze the effects of bilateral trade variables upon the growth pattern of Pakistan in the short run and long run. Key findings of the study empirically support the notion that increased bilateral trade will be beneficial for Pakistan in the short run because of cost advantage and knowledge spillover in terms of increased technical and managerial ability from multinational firms. However, contrary to extensive literature, increased bilateral trade measures will affect Pakistan’s growth rate negatively in the long run because of the industrial size differential and increased integration of Indian economy with the world.

Keywords: bilateral trade openness, spillover, comparative advantage, univariate

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Authors: R. Pérez Castells, J. M. Carbajo

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Sepiolite is used as a processing aid in the manufacture of fibre cement from the start of the replacement of asbestos in the 80s. Sepiolite increases the inter-laminar bond between cement layers and improves homogeneity of the slurries. A new type of sepiolite processed product, Wollatrop TF/C, has been checked as a retention agent for fine particles in the production of fibre cement in a Hatschek machine. The effect of Wollatrop T/FC on filtering and fine particle losses was studied as well as the interaction with anionic polyacrylamide and microsilica. The design of the experiments were factorial and the VDT equipment used for measuring retention and drainage was modified Rapid Köethen laboratory sheet former. Wollatrop TF/C increased the fine particle retention improving the economy of the process and reducing the accumulation of solids in recycled process water. At the same time, drainage time increased sharply at high concentration, however drainage time can be improved by adjusting APAM concentration. Wollatrop TF/C and microsilica are having very small interactions among them. Microsilica does not control fine particle losses while Wollatrop TF/C does efficiently. Further research on APAM type (molecular weight and anionic character) is advisable to improve drainage.

Keywords: drainage, fibre-reinforced cement, fine particle losses, flocculation, microsilica, sepiolite

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Authors: Imoukhuede Oladunni Bimpe, Ale Monday Olatunbosun

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Periodic scarcity of onion requires urgent solution in Nigerian agro-economy. The high percentage of onion losses incurred after harvesting period is due to non-availability of appropriate facility for its storage. Therefore, some storage structures were constructed with different roofing materials. The response of the materials to the weather parameters like temperature and relative humidity were evaluated to know their effects on the performance of the storage structures. The temperature and relative humidity were taken three times daily alongside with the weight of the onion in each of the structures; the losses as indicated by loss indices like shrinkage, rottenness, sprouting and colour were identified and percentage loss per week determined. The highest mean percentage loss (22%) was observed in the structure with iron roofing materials while structure with thatched materials had the lowest (9.4%); The highest temperature was observed in the structure with Asbestos roofing materials and no significant difference in the temperature value in the structure with thatched and Iron materials; highest relatively humidity was found in Asbestos roofing material while the lowest in the structure with Iron materials. It was conclusively found that the storage structure with thatched roof had the best performance in terms of losses.

Keywords: onion, storage structures, weather parameters, roof materials, losses

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Authors: Ahmed S. Khan, Amin Karim

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During the past several decades, the economy of each nation has been significantly affected by globalization and technology. Government regulations and private sector standards affect a majority of world trade. Countries have been working together to establish international standards in almost every field. As a result, workers in all sectors need to have an understanding of standards. Engineering and technology students must not only possess an understanding of engineering standards and applicable government codes, but also learn to apply them in designing, developing, testing and servicing products, processes and systems. Accreditation Board for Engineering & Technology (ABET) criteria for engineering and technology education require students to learn and apply standards in their class projects. This paper is a follow-up of a 2006-2009 NSF initiative awarded to IEEE to help develop tutorials and case study modules for students and encourage standards education at college campuses. It presents the findings of a faculty/institution survey conducted through various U.S.-based listservs representing the major engineering and technology disciplines. The intent of the survey was to the gauge the status of use of standards and regulations in engineering and technology coursework and to identify benchmark practices. In light of survey findings, recommendations are made to standards development organizations, industry, and academia to help enhance the use of standards in engineering and technology curricula.

Keywords: standards, regulations, ABET, IEEE, engineering, technology curricula

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Authors: Essang Anwana Onuntuei, Chinyere Blessing Azunwoke

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The study centred on investigating the influence of multimedia systems and computer graphic design on global and local scale economies. Firstly, the study pinpointed the significant participants and top five global digital media distribution in the digital media market. Then, the study investigated whether a tie or variance existed between the digital media vendor and market shares. Also, the paper probed whether the global and local desktop, mobile, and tablet markets differ while assessing the association between the top five digital media and global market shares. Finally, the study explored the extent of growth, economic gains, major setbacks, and opportunities within the industry amidst global and local scale economic flux. A multiple regression analysis method was employed to analyse the significant influence of the top five global digital media on the total market share, and the Analysis of Variance (ANOVA) was used to analyse the global digital media vendor market share data. The findings were intriguing and significant.

Keywords: computer graphics, digital media market, global market share, market size, media vendor, multimedia, social media, systems design

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Authors: Ester B. Onag, Manuel Morga, Belen Tangco

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Evidence-based research attested that Climate Change is a global phenomenon that has a massive impact on the economy, the government and the people. To minimize its impact, the national government must undertake social orders to ensure the needs of the people by implementing developmental policies that provide adequate social service to improve the quality of life for all. This research attempts to evaluate the political accountability of the Sangguniang Barangay of Malabon on its readiness for climate change. Which, the theory of decentralization takes an active participation, where the the national policies for climate change are adopted by local ordinances and it is enforced, monitored, and reported through the Barangay ordinance enacted by the Sangguniang Barangay. This paper also analyzes certain factors anchored on the political accountability of the Sangguniang Barangay which determines the state of their readiness in climate change, such as the gravity of their accountability which extends beyond the lines of their responsibility as stated in the local government code. It also evaluated the degree of their capabilities in actual legislation, the nature of their prioritization through their enacted ordinances and the extent of participation from different stakeholders of barangay such as the sectoral representatives and the citizens in which their participation is a means that leads to community awareness.

Keywords: climate change, local government, Sangguniang Barangay, government

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Authors: A. Yongsheng Guo, B. Obedat. Abdulazeez, C. Xiaoxian Zhu

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This study aimed to identify the barriers to the development of small and medium-sized enterprises (SMEs) in China and build a theoretical framework to evaluate the support provided by the authorities and institutions. A grounded theory approach was adopted to collect and analyze data. 32 interviews were conducted with SME managers, and open, axial and selective coding was utilized to develop themes. Based on institutional theory, grounded theory models were used to present findings. The findings showed that the main barriers in the business environment were defaulting on contracts, bureaucracy in procedures, lack of financial and legal support, limited intermediaries and channels, and poor quality of products and services. This study found that many programs were provided to support SMEs. A theoretical framework was developed to evaluate the performance of the programs from the managers’ perspective. The concepts of economy, efficiency and effectiveness were used to evaluate the perceived value of the programs. This study suggests that specialized programs are needed to suit sector-specific requirements, and creative packages are helpful in supporting SMEs' growth.

Keywords: business support, public economics, public programme, SME

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Authors: Qi Lu, Jian Deng, Daishun Huang, Chao Guo

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The lead cooled fast reactor is considered as one of the most potential Generation IV nuclear systems due to the low working pressure, the appreciable neutron economy, and the considerable passive characteristics. Meanwhile, the lead bismuth eutectic (LBE) has the related advantages of lead with the weaker corrosiveness, which has been paid much attention by recent decades. Moreover, the sub-channel code is a necessary analysis tool for the reactor thermal-hydraulic design and safety analysis, which has been developed combined with the accumulation of LBE experimental data and the understanding of physical phenomena. In this study, a sub-channel code available for LBE was developed, and the corresponding geometric characterization method of typical sub-channels was described in detail, especially for for the fuel assembly with wire spacer. As for this sub-channel code, the transversal thermal conduction through gap was taken into account. In addition, the physical properties, the heat transfer model, the flow resistance model and the turbulent mixing model were analyzed. Finally, the thermal-hydraulic experiments of LBE conducted on THEADES (THErmal-hydraulics and Ads DESign) were selected as the evaluation data of this sub-channel code, including 19 rods with wire spacer, and the calculated results were in good agreement with the experimental results.

Keywords: lead bismuth eutectic, sub-channel code, wire spacer, transversal thermal conduction

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Authors: Daniele Lerede, Gianvito Colucci, Matteo Nicoli, Laura Savoldi

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The European Green Deal is the first internationally agreed set of measures to contrast climate change and environmental degradation. Besides the main target of reducing emissions by at least 55% by 2030, it sets the target of accompanying European countries through an energy transition to make the European Union into a modern, resource-efficient, and competitive net-zero emissions economy by 2050, decoupling growth from the use of resources and ensuring a fair adaptation of all social categories to the transformation process. While the general purpose to allow the realization of the purposes of the Green Deal already dates back to 2019, strategies and policies keep being developed coping with recent circumstances and achievements. However, general long-term measures like the Circular Economy Action Plan, the proposals to shift from fossil natural gas to renewable and low-carbon gases, in particular biomethane and hydrogen, and to end the sale of gasoline and diesel cars by 2035, will all have significant effects on energy supply and demand evolution across the next decades. The interactions between energy supply and demand over long-term time frames are usually assessed via energy system models to derive useful insights for policymaking and to address technological choices and research and development. TEMOA-Europe is a newly developed energy system optimization model instance based on the minimization of the total cost of the system under analysis, adopting a technologically integrated, detailed, and explicit formulation and considering the evolution of the system in partial equilibrium in competitive markets with perfect foresight. TEMOA-Europe is developed on the TEMOA platform, an open-source modeling framework totally implemented in Python, therefore ensuring third-party verification even on large and complex models. TEMOA-Europe is based on a single-region representation of the European Union and EFTA countries on a time scale between 2005 and 2100, relying on a set of assumptions for socio-economic developments based on projections by the International Energy Outlook and a large technological dataset including 7 sectors: the upstream and power sectors for the production of all energy commodities and the end-use sectors, including industry, transport, residential, commercial and agriculture. TEMOA-Europe also includes an updated hydrogen module considering its production, storage, transportation, and utilization. Besides, it can rely on a wide set of innovative technologies, ranging from nuclear fusion and electricity plants equipped with CCS in the power sector to electrolysis-based steel production processes and steel in the industrial sector – with a techno-economic characterization based on public literature – to produce insightful energy scenarios and especially to cope with the very long analyzed time scale. The aim of this work is to examine in detail the scheme of measures and policies for the realization of the purposes of the Green Deal and to transform them into a set of constraints and new socio-economic development pathways. Based on them, TEMOA-Europe will be used to produce and comparatively analyze scenarios to assess the consequences of Green Deal-related measures on the future evolution of the energy mix over the whole energy system in an economic optimization environment.

Keywords: European Green Deal, energy system optimization modeling, scenario analysis, TEMOA-Europe

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Authors: Nor-Edine Abriak, Mouhamadou Amar, Mahfoud Benzerzour

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The transition to a more sustainable economy is directed by a reduction in the consumption of raw materials in equivalent production. The recovery of byproducts and especially the dredged sediment as mineral addition in cements matrix represents an alternative to reduce raw material consumption and construction sector’s carbon footprint. However, the efficient use of sediment requires adequate and optimal treatment. Several processing techniques have so far been applied in order to improve some physicochemical properties. The heat treatment by calcination was effective in removing the organic fraction and activates the pozzolanic properties. In this article, the effect of the optimized heat treatment of marine sediments in the physico-mechanical and environmental properties of mortars are shown. A finding is that the optimal substitution of a portion of cement by treated sediments by calcination at 750 °C helps to maintain or improve the mechanical properties of the cement matrix in comparison with a standard reference mortar. The use of calcined sediment enhances mortar behavior in terms of mechanical strength and durability. From an environmental point of view and life cycle, mortars formulated containing treated sediments are considered inert with respect to the inert waste storage facilities reference (ISDI-France).

Keywords: sediment, calcination, cement, reuse

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Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino

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We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.

Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency

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Authors: Wei Yao, Constantinos Alexiou

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In the existing literature, many studies have focused on the implementation and effectiveness of quantitative easing (QE) since 2008, but only a few have evaluated QE’s effect on commodity prices. In this context, by following Frankel’s (1986) commodity price overshooting model, we study the dynamic covariation between the expected real interest rates and six agricultural commodities’ real returns over the period from 2000:1 to 2018 for the US economy. We use wavelet analysis to investigate the causal relationship and co-movement of time series data by calculating the coefficient of determination in different frequencies. We find that a) US unconventional monetary policy may cause more positive and significant covariation between the expected real interest rates and agricultural commodities’ real returns over the short horizons; b) a lead-lag relationship that runs from agricultural commodities’ real returns to the expected real short-term interest rates over the long horizons; and c) a lead-lag relationship from agricultural commodities’ real returns to the expected real long-term interest rates over short horizons. In the realm of monetary policy, we argue that QE may shift the negative relationship between most commodities’ real returns and the expected real interest rates to a positive one over a short horizon.

Keywords: QE, commodity price, interest rate, wavelet coherence

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Authors: Ana Martins, Isabel Martins

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The purpose of this research is to ascertain whether students at HEIs cultivate distributed leadership and higher-level skills to inspire knowledge creation. Critical reflection of extant literature illustrates the need for a culture of innovation in organizational sustainability. New age leadership behaviors harmonize innovation. The leadership self-efficacy construct supports organizational learning. This exploratory study applies the pragmatic paradigm methodology using the survey research method for primary data collection. A questionnaire was distributed to a sample of university students based in the Southern Anatolian region of Turkey, from both under and postgraduate Business degree programs. An analysis of the findings reveals a greater connection in influencing behavior relying more on the task-centered perspective rather than with the people perspective. These results reveal the need for HEIs to instill a humanistic perspective in curricula enabling graduates to be capable leaders with the awareness soft skills to energize creativity and innovation. A limitation of this research is that one university makes it difficult to generalize to a broader population. This study is of added value for scholars and organizations in the current knowledge and innovation economy.

Keywords: distributed leadership, exploration, higher education institutions, innovation, knowledge creation, learning, self-efficacy

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Authors: Atefeh Pourshafie, Homayoun Bakhtiari

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The main task of power distribution companies is to supply the power required by customers in an acceptable level of quality and reliability. Some key performance indicators for electric power distribution companies are those evaluating the continuity of supply within the network. More than other problems, power outages (due to lightning, flood, fire, earthquake, etc.) challenge economy and business. In addition, end users expect a reliable power supply. Reliability indices are evaluated on an annual basis by the specialized holding company of Tavanir (Power Produce, Transmission& distribution company of Iran) . Evaluation of reliability indices is essential for distribution companies, and with regard to the privatization of distribution companies, it will be of particular importance to evaluate these indices and to plan for their improvement in a not too distant future. According to IEEE-1366 standard, there are too many indices; however, the most common reliability indices include SAIFI, SAIDI and CAIDI. These indices describe the period and frequency of blackouts in the reporting period (annual or any desired timeframe). This paper calculates reliability indices for three sample feeders in Lorestan Electric Power Distribution Company and defines the threshold values in a ten-month period. At the end, strategies are introduced to reach the threshold values in order to increase customers' satisfaction.

Keywords: power, distribution network, reliability, outage

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Authors: Eriba Christopher Inyila, Godwin Egena Oga

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Statecraft appears to be one of the greatest cultural achievements in the history of man’s civilization. The state itself is often portrayed as the supreme community of the citizen’s collective goodness and will. However, history experience reveals that the state has often been held in captivity permanently in the hand of the political class to almost a total exclusion of the labouring class of workers, artisans and peasants. Consequently, the hallmark of the Nigerian state and society in contemporary era is state of permanent crisis characterized by poverty, unemployment and profound insecurity. A lasting solution to this state of anomie is often touted in terms of ethnic, religious and regional integration which border on non-material perception of realities. A neglected aspect of the approach to the study of recurrent problems in contemporary is the materialist conception of realties through class perspectives of the society. The cutting edge of the approach is found in the attempt to reconcile the contradiction between the productive forces and the social relation of production. In other words, the contemporary state is skewed in favour of ownership of properties/commanding height of economy predominantly in the hands of the few monopoly companies to the total exclusion of majority of Nigerian population classified as peasant, workers and artisan. The lopsided situation creates economic and social disequilibria.

Keywords: national development, class, the state, Nigeria

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Authors: Sandani Muthukumarana, Malith Shehan Keraminiyage, Pavithra Rathnasiri

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Climate change is one of the most pressing issues facing our generation. However, it also presents an opportunity to grow the economy using biotechnology. Biotechnology offers a variety of solutions that can help mitigate the effects of global warming. Despite this, there is a lack of research on the potential and challenges associated with the further use of biotechnology to combat the impacts of climate change. To address this gap, it is essential to investigate the current context surrounding the use of biotechnology for climate change mitigation, including potential applications, current practices, and existing challenges. By reviewing the existing literature on these perspectives, this paper aims to provide a comprehensive understanding of the potential for biotechnology to mitigate the hazards of climate change. The use of biotechnology to mitigate the effects of climate change will be made easier as a result, and this will lay the groundwork for further study and actual initiatives in this field. Biotechnology can play a crucial role in mitigating the impacts of climate change. It offers a range of solutions, such as genetically modified crops, bioremediation, and bioenergy, that can help reduce greenhouse gas emissions, enhance carbon sequestration, and increase climate resilience. By utilizing biotechnology, we can reduce the negative impacts of climate change and create a more sustainable future. According to this knowledge, researchers can harness the potential of biotechnology to fight climate change and build a more sustainable future for future generations.

Keywords: biotechnology, impact, solutions, climate changes

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Authors: Melody Mandevere, Roselyn Cheruiyot

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Through Corporate Social Responsibility (CSR), organizations contribute to a stable environment that leads to a predictable climate for investment and trade. Organizations are now deviating from traditional CSR, where it was believed that the only responsibility of an organization is to meet its shareholder's needs. Organizations and society now believe that an organization has many stakeholders that it must satisfy for it to be viable. The function of State-Owned Enterprises (SOEs) is not profit making but providing service and accomplishing public policy objectives. SOEs demand consideration in the current economic climate because they represent an important part of the economies of many countries. Given the importance and complex relationship of the stakeholders in SOE, the paper seeks to examine how full name first Zimra is implementing its CSR activities. SOE managers are responsible for CSR implementation and stakeholder engagement. ZIMRA is one of the parastatals that plays a crucial role in the Zimbabwean economy. It is, therefore, important to understand how Zimra is implementing CSR. Qualitative research was used for the research. Interviews were contacted with Zimra managers to understand how they are implementing CSR. Although Zimra managers understand the CSR concept, the organization does not have a CSR strategy that includes their stakeholders, which may have a negative impact on stakeholder perception and the organization's reputation. The funding of the CSR strategy is also not sustainable.

Keywords: corporate social responsibility, managers, stakeholders, state-owned enterprises

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Authors: Narvada Ramdhany, Reena Bhattu Babajee

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The 2007-2008 Global Financial Crisis which initiated in the US had a global outreach, impacting the financial and banking sectors of several economies; such as European countries, developing and emerging countries in Asia, Latin America and Africa. European countries represent one of the main sources of export earnings for Mauritius and given that Europe has been quite profoundly affected by the crisis, the Mauritian economy also could have been negatively affected. This study is being undertaken to see if the crisis had a spill-over effect on the Mauritian banking system. It will also enable to determine if the measures put in place to counteract the crisis by regulatory authorities have been effective. The study will be carried out on 17 banks and data will be collected over a time frame of seven years; with a pre-crisis period from 2005 to 2007 and a post-crisis period from 2009 to 2011. The impact of the crisis as such will be measured through the financial performance of the banks, using financial ratios and regression analysis. The results show that during the period concerned Mauritian banks have remained solvent and relatively stable. One of the main explanations put forward to explain the resilience of the banking sector to the crisis is that foreign exposure was relatively low. Another explanation put forward is that Mauritian banks normally transact mainly with prime borrowers unlike most the banks which were affected by the financial crisis.  

Keywords: global financial crisis, banking sector, financial performance, Mauritian banks

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Authors: Charity Ifunanya Osakwe, Victoria Ogochuchukwu Obi-Nwosu, Chima Kenneth Anachedo

Abstract:

The study investigates how automated teller machines (ATM) and mobile banking affect deposit money banks in the Nigerian economy. The study made use of time series data which were obtained from the Central Bank of Nigeria Statistical Bulletin from 2009 to 2021. The Central Bank of Nigeria (CBN) data on automated teller machine and mobile phones were used to proxy electronic banking while total deposit in banks proxied the performance of deposit money banks. The analysis for the study was done using ordinary least square econometric technique with the aid of economic view statistical package. The results show that the automated teller machine has a positive and significant effect on the total deposits of deposit money banks in Nigeria and that making use of deposits of deposit money banks in Nigeria. It was concluded in the study that e-banking has equally increased banking access to customers and also created room for banks to expand their operations to more customers. The study recommends that banks in Nigeria should prioritize the expansion and maintenance of ATM networks as well as continue to invest in and develop more mobile banking services.

Keywords: electronic, banking, automated teller machines, mobile, deposit

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Authors: Guo Yan

Abstract:

Clothing recycling bin is a traditional way to collect textile waste in many areas. In the clothing recycling business, the transportation cost normally takes over 50% of total costs. This case gives a good way to reduce transportation cost by reverse logistics system. In this reverse logistics system, there are offline strategic alliance partners, such as transport firms, convenience stores, laundries, and post office which are integrated onto the mobile APP. Offline strategic alliance partners provide the service of textile waste collection, and transportation by their vacant vehicles return journey from convenience stores, laundries and post offices to sorting centers. The results of the case study provide the strategic alliance with a valuable and light - asset business model by using the logistics of offline memberships. The company in this case just focuses on textile waste sorting, reuse, recycling etc. The research method of this paper is a case study of a clothing recycling company in Chengdu by field research and interview; the analysis is based on the theory of the reverse logistics system.

Keywords: closed-loop recycles system, clothing recycling, end-of-life clothing, sharing economy, strategic alliance, reverse logistics.

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Authors: Layal Mansour

Abstract:

This paper breaks down Egypt’s financial crisis by constructing a customized financial stress index by including the vulnerable economic indicator “dollarization” as a vulnerable indicator in the credit and exchange sector. The Financial Stress Index for Egypt (FSIE) includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. It is calculated on a monthly basis from 2010 to December 2022, so to report the two recent world’s most devastating financial crises: Covid 19 crisis and Ukraine-Russia War, in addition to the local 2016 and 2022 financial crises. We proceed first by a graphical analysis then by empirical analysis in running under Vector Autoregression (VAR) Model, dynamic causality tests between foreign reserves, dollarization rate, and FSIE. The graphical analysis shows that unexpectedly, Egypt’s economy seems to be immune to internal economic/political instabilities, however it is highly exposed to the foreign and exchange market. Empirical analysis confirms the graphical observations and proves that dollarization, or more precisely debt in foreign currency seems to be the main trigger of Egypt’s current financial crisis.

Keywords: egypt, financial crisis, financial stress index, dollarization, VAR model, causality tests

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