Search results for: Chengdu-Chongqing economic circle

Authors: Laila Algalal, Chen Xi

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The US dollar has long served as the world's primary reserve currency. However, this dominance faces growing challenges from internal US economic pressures and the rise of alternative currencies. Internally, issues like high debt, inflation, reduced competitiveness, and economic instability due to inequality in economic policies threaten the dollar's position. Externally, more countries are establishing alternative currencies, payment systems, and regional financial institutions to reduce dollar dependence. These drivers have contributed to a decline in the dollar's share of global foreign exchange reserves from 71% in 2001 to an estimated 58% in 2022. While this 13-percentage point drop took two decades, recent initiatives suggest de-dollarization could accelerate in the coming few decades. Efforts to establish non-dollar trade deals and alternative financial systems show more substantial progress compared to initiatives in the early 2000s. As the nature of the world system is anarchic, states make either individual or group efforts to guarantee their economic security and achieve their interests. Based on neoclassical realism, this paper analyzes both internal and external US economic factors driving current and future de-dollarization and the implications on the international monetary system, in addition to examining the motivation for such moves.

Keywords: de-dollarization, US dollar, monetary system, economic security, economic policies.

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Authors: Catherine Coron

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This paper first tries to scrutinize the diverse meanings and policies of inclusive education in the United Kingdom and France in the recent period thanks to a comparative analysis of the recent literature as well as the various definitions, legislation and good practices of inclusive education. The central question is to find the links between inclusion and economic wellbeing in the economic, social and cultural context of the two countries. The first part questions the economic, social and cultural meaning of the definitions thanks to a comparison between the various perspectives to envisage the notions of inclusion and wellbeing in the two countries in order to better understand the way they are interpreted according to each cultural background. The second part analyses the various policies implemented recently in order to determine the main characteristics, the differences, and the similarities, as well as the economic challenges in terms of wellbeing. The final goal of this paper is to identify the main economic, social and cultural values as regards sustainability in each country.

Keywords: education, inclusion, students with special needs, wellbeing

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Authors: Aurelia Samuel

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Socio-economic modelling approaches linked to water management have contributed to impact assessments of agricultural policies and management practices on water quality at catchment level. With an increasing interest in informing water management policy that considers complex links between socioeconomic factors, climate change, agricultural production, and water quality, several models have been developed and applied in the literature to capture these relationships. This paper offers an overview of socio-economic approaches that have been incorporated within an integrated framework. It also highlights how data gaps on socio-economic factors have been addressed using forecasting techniques. Findings of the review show that while integrated frameworks have the potential to account for complexities within dynamic systems, they generally do not provide direct, measurable financial impact of socio-economic factors on biophysical water parameters that affect water quality. The paper concludes with a recommendation that modelling framework is kept simple to make it more transparent and easier to capture the most important relationship.

Keywords: financial impact, integrated framework, socio-economic modelling, water quality

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Authors: Kemi Olalekan Oduntan

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Transformation is a strong word that portends a radical, structural and basic reappraisal of the basic assumptions that underline our economic reform and developmental efforts. The challenges before government are how to move the nation away from an oil-dominated economy, institute the basics for a private sector-driven economy, build the local economy on international best practices, transform a passive oil industry to a more pro-active one and reposition the country along the lines of a more decentralized federalism. But beyond this, Nigeria is faced with management and leadership challenges to contend with building an efficient and effective polity, inspiring a shared vision, remodeling a corrupt polity, redefining the essentials of transformational leadership and creating Nigerian dream that will inspire patriotism and commitment in the citizenry.

Keywords: economic, economic growth, patriotism, polity, transformational

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Authors: Farah Al-Fityani, Aljohara Alsowail, Shatha Bindawood, Heba Balrbeah

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Locket is a popular app that lets users share spontaneous photos with a close circle of friends. The app offers a unique way to stay connected with loved ones by allowing users to see glimpses of their day through photos displayed on a widget on their home screen. This summary outlines the process of developing an app like Locket, highlighting the importance of user privacy and security. It also details the findings of a study on user engagement with the Locket app, revealing positive sentiment towards its features and concept but also identifying areas for improvement. Overall, the summary portrays Locket as a successful app that is changing the way people connect on social media.

Keywords: locket, app, machine learning, connect

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Authors: Anupam Das

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Although financial liberalization has been one of the most important policy prescriptions of international organizations like the World Bank and the IMF, the effect of financial liberalization on economic growth in developing countries is far from unanimous. Since the '80s, South Asian countries made a significant development in liberalization the financial sector. However, due to unavailability of a sufficient number of time series observations, the relationship between economic growth and financial development has not been investigated adequately. We aim to fill this gap by examining time series data of five developing countries from the South Asian region: Bangladesh, India, Pakistan, Sri Lanka, and Nepal. Applying the cointegration tests and Granger causality within the vector error correction model (VECM), we do not find unanimous evidence of financial development on positive economic growth. These results are helpful for developing countries which have been trying to liberalize the financial sector in recent decades.

Keywords: economic growth, financial development, Granger causality, South Asia

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Authors: Mingbao Chen

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The blue economy is a new comprehensive marine economy integrated with resources, industries, and regions, and is an upgraded version of the marine economy. The blue economy attaches great importance to the coordinated development of the ecological environment and the economy, which is an emerging economic form advocated by all countries in the world. This paper constructs the model including four variables：natural capital, economic capital, intellectual capital, cultural capital. Theoretically, this paper deduces the function mechanism of variables on economic growth, and empirically calculates the driving force and influence of the blue economy on the national economy by using data of China's 2006-2015 year. The results show that natural capital and economic capital remain the main factors of blue growth in the blue economy. And with the development of economic society and technological progress, the role of intellectual capital and cultural capital is bigger and bigger. Therefore, promoting the development of marine science and technology and culture is the focus of the future blue economic development.

Keywords: blue growth, natural capital, intellectual capital, cultural capital

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Authors: Roger Yu

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A numerical scheme has been developed to solve wave equations for chaotic systems such as stadium-shaped cavity. The same numerical method can also be used for finding wave properties of rectangle cavities with randomly placed obstacles. About 30k eigenvalues have been obtained accurately on a normal circumstance. For comparison, we also initiated an experimental study which determines both eigenfrequencies and eigenfunctions of a stadium-shaped cavity using pulse and normal mode analyzing techniques. The acoustic cavity was made adjustable so that the transition from nonchaotic (circle) to chaotic (stadium) waves can be investigated.

Keywords: quantum dot, chaos, numerical method, eigenvalues

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Authors: Umar Hayat, Shahid Ali, Lala Rukh

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Foreign aid is one of the critical variables that promote economic growth. This paper is an attempt to examine the long-run relationship between foreign aid and economic growth for Pakistan over the period of 1972 to 2021. This study uses Johnson's co-integration technique to investigate the long-run relationship among the variables in the model. For short-run dynamics, we utilized the Error Correction Mechanism (ECM). The results strongly support the conventional view about aid-led growth. The analysis of the impact of aid on growth both at the micro and the macro levels generally gives different results. The result shows that in the short run inference of foreign aid under the nondemocratic form of government is significant negatively, while foreign aid does not affect economic growth in the case of democratic government.

Keywords: foreign aid, economic growth, political regimes, developing economy

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Authors: Jianghua Chen

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Sustainable urban development requires the coordination of economic growth and resource environment, and industrial transformation and upgrading is the key link. Based on the decoupling theory and the improved decoupling decomposition model, the quantitative evaluation and comprehensive analysis of the degree of decoupling between resource consumption and economic development in Jiangsu Province are carried out by utilizing the data related to resource consumption and economic growth of the secondary and tertiary industries in Jiangsu Province from 2013 to 2018, so as to explore the sustainable development path of industrial transformation in Jiangsu Province. The results show that from the decoupling status, the degree of decoupling of economic development of the secondary industry to the required coke resources, water resources and human resources is gradually deepening, and the decoupling index of economic development of the tertiary industry to the required water resources is fluctuating; from the perspective of the driving factors, the technological effect is the main driving factor for decoupling the economic growth of Jiangsu Province to the resources, and the structural effect has a significant impact on the driving index of the decoupling of economic growth of the secondary and tertiary industries to the consumption of resources in Jiangsu Province. In terms of driving factors, the technology effect is the main driving factor for economic growth in Jiangsu Province to realize decoupling of resources, while the structural effect is the main driving factor for economic growth in Jiangsu Province's second and third industries to realize decoupling of resources. Finally, we discuss the difficulties of industrial transformation and layout faced by Jiangsu Province at present.

Keywords: resource consumption, economic growth, industrial transformation, decoupling theory

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Authors: Christiane Paulus

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Post-Islamism assumes that the Quran should not be viewed in terms of what Lyotard identifies as a ‘meta-narrative'. However, its socio-ethical content can be viewed as critical of power discourse (Foucault). Practicing religion seems to be limited to rites and individual spirituality, taqwa. Alternatively, can we build on Muhammad Abduh's classic-modern reform and develop it through a postmodernist frame? This is the main question of this study. Through his general and vague remarks on the context of the Quran, Abduh was the first to refer to the historical and cultural distance of the text as an obstacle for interpretation. His application, however, corresponded to the modern absolute idea of authentic sharia. He was followed by Amin al-Khuli, who hermeneutically linked the content of the Quran to the theory of evolution. Fazlur Rahman and Nasr Hamid abu Zeid remain reluctant to go beyond the general level in terms of context. The hermeneutic circle, therefore, persists in challenging, how to get out to overcome one’s own assumptions. The insight into and the acceptance of the lasting ambivalence of understanding can be grasped as a postmodern approach; it is documented in Derrida's discovery of the shift in text meanings, difference, also in Lyotard's theory of différend. The resulting mixture of meanings (Wolfgang Welsch) can be read together with the classic ambiguity of the premodern interpreters of the Quran (Thomas Bauer). Confronting hermeneutic difficulties in general, Niklas Luhmann proves every description an attribution, tautology, i.e., remaining in the circle. ‘De-tautologization’ is possible, namely by analyzing the distinctions in the sense of objective, temporal and social information that every text contains. This could be expanded with the Kantian aesthetic dimension of reason (critique of pure judgment) corresponding to the iʽgaz of the Coran. Luhmann asks, ‘What distinction does the observer/author make?’ Quran as a speech from God to the first listeners could be seen as a discourse responding to the problems of everyday life of that time, which can be viewed as the general goal of the entire Qoran. Through reconstructing koranic Lifeworlds (Alfred Schütz) in detail, the social structure crystallizes the socio-economic differences, the enormous poverty. The koranic instruction to provide the basic needs for the neglected groups, which often intersect (old, poor, slaves, women, children), can be seen immediately in the text. First, the references to lifeworlds/social problems and discourses in longer koranic passages should be hypothesized. Subsequently, information from the classic commentaries could be extracted, the classical Tafseer, in particular, contains rich narrative material for reconstructing. By selecting and assigning suitable, specific context information, the meaning of the description becomes condensed (Clifford Geertz). In this manner, the text gets necessarily an alienation and is newly accessible. The socio-ethical implications can thus be grasped from the difference of the original problem and the revealed/improved order/procedure; this small step can be materialized as such, not as an absolute solution but as offering plausible patterns for today’s challenges as the Agenda 2030.

Keywords: postmodern hermeneutics, condensed description, sociological approach, small steps of reform

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Authors: K. Caban-Piaskowska

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The aim of the article is to show how the role of a designer has changed, from the point of view of human resources management and thanks to the increased importance of design management, and is to present how a rehabilitation product, through technology approach to designing, becomes a universal product. Designing for the disabled is a very undiscovered area on the pattern-designing market, most often because it is associated with devices which support rehabilitation. In consequence, it means that the realizations have a limited group of receivers and are not that attractive for designers. The relation between using modern design in building rehabilitation devices and increasing the efficiency of treatment and physiotherapy. Using modern technology can have marketing significance. Rehabilitation products designed and produced in a modern way makes an impression that experts and professionals are involved in the lives of the user – patient. In order to illustrate the problem presented above i.e. Creating a rehabilitation product as an example of design management, the case study method was used in the research. The analysis of the case was created on the basis of an interview conducted by the author with a designer who took part in meetings with people who use rehabilitation and their physiotherapists, and created universal products in Poland in the years of 2012 to 2017. Usually, engineers and constructors deal with creating products which remind us of old torture devices, however, they are indestructible in construction. Such image of those products for the disabled clearly indicates that it is a wonderful niche for designers and emphasizes the need to make those products more attractive and innovative. Products for the disabled cannot be limited to rehabilitation equipment only e.g. wheelchairs or standing frames. Introducing the idea of universal designing can significantly broaden the circle of pattern-designing receivers – everyday-use items – with the disabled people. Fulfilling these criteria will decide about the advantage on the competitive market. It is possible due to the usage of the design management concept in the functioning of an organization. Using modern technology and materials in the production of equipment, and changing the role of a designer broadening the circle of receivers by designing a wide use process which makes it possible to use the product by people with various needs. What is more, introducing rehabilitation functions in everyday-use items can also become an innovative accent in designing. In the reality of the market, each group of users can and should be treated as a problem and a realization task.

Keywords: design management, innovation, rehabilitation product, universal product

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Authors: Chin-Pin, Chen, Shi-Chi, Shiao, Ting-Hao, Lin

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Current industry is facing the rapid development of new technology in the world and fierce changes of economic environment in the society so that the industry development trend gradually does not focus on labor, but leads the industry and the academic circle with innovation and creativity. The development trend in machinery industry presents the same situation. Based on the aim of Creativity White Paper, Ministry of Education in Taiwan promotes and develops various creativity contests to cope with the industry trend. Domestic students and enterprises have good performance on domestic and international creativity contests in recent years. There must be important creative elements in such creative works to win the award among so many works. Literature review and in-depth interview with five creativity contest awarded instructors are first proceeded to conclude 15 machinery creative elements, which are further compared with the creative elements of machinery awarded creative works in past five years to understand the relationship between awarded works and creative elements. The statistical analysis results show that IDEA (Industrial Design Excellence Award) contains the most creative elements among four major international creativity contests. That is, most creativity review focuses on creative elements that are comparatively stricter. Concerning the groups participating in creativity contests, enterprises consider more creative elements of the creative works than other two elements for contests. From such contest works, creative elements of “replacement or improvement”, “convenience”, and “modeling” present higher significance. It is expected that the above findings could provide domestic colleges and universities with reference for participating in creativity related contests in the future.

Keywords: machinery, creative elements, creativity contest, creativity works

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Authors: Elnaz Entezar, Reza Ezzati

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In recent decades, trade flows, capital, workforce, technology and information have increased between international borders and the globalization has turned to an undeniable process in international economics. Meanwhile, despite the positive aspects of globalization, the critics of globalization opine that the risks and costs of globalization for developing vulnerable economies and the world's impoverished people are high and significant. In this regard, this study by using the data of KOF Economic Institute and the World Bank for 113 different countries during the period 2002-2012, by taking advantage of panel smooth transition regression, and by taking the gross domestic product as transmission variables discuss the nonlinear relationship between research variables. The results have revealed that globalization in low regime (countries with low GDP) has negative impact whereas in high regime (countries with high GDP) has a positive impact. In spite of the fact that in the early stages of growth, control of corruption has a positive impact on economic growth, after a threshold has a negative impact on economic growth.

Keywords: globalization, corruption, panel smooth transition model, economic growth, threshold, economic convergence

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Authors: Fathi M. O. Hamed, Salma F. Elkofhaifee

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The aim of this work is to detect geometrical shape objects in an image. In this paper, the object is considered to be as a circle shape. The identification requires find three characteristics, which are number, size, and location of the object. To achieve the goal of this work, this paper presents an algorithm that combines from some of statistical approaches and image analysis techniques. This algorithm has been implemented to arrive at the major objectives in this paper. The algorithm has been evaluated by using simulated data, and yields good results, and then it has been applied to real data.

Keywords: image processing, median filter, projection, scale-space, segmentation, threshold

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Authors: Ivana Lolic, Petar Soric, Mirjana Cizmesija

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Based on Business and Consumer Survey (BCS) data, the European Commission (EC) regularly publishes the monthly Economic Sentiment Indicator (ESI) for each EU member state. ESI is conceptualized as a leading indicator, aimed ad tracking the overall economic activity. In calculating ESI, the EC employs arbitrarily chosen weights on 15 BCS response balances. This paper raises the predictive quality of ESI by applying nonlinear programming to find such weights that maximize the correlation coefficient of ESI and year-on-year GDP growth. The obtained results show that the highest weights are assigned to the response balances of industrial sector questions, followed by questions from the retail trade sector. This comes as no surprise since the existing literature shows that the industrial production is a plausible proxy for the overall Croatian economic activity and since Croatian GDP is largely influenced by the aggregate personal consumption.

Keywords: business and consumer survey, economic sentiment indicator, leading indicator, nonlinear optimization with constraints

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Authors: Smriti Mishra, Jaydip Barman, Shashi Kant Pandey

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Many scholars suggest that waterfront development projects have an all round impact on cities. However, their research stops short of considering the perception of local residents, of what they think about the impact of such developments and the kind of waterfront development which they would prefer to support. Therefore, this paper attempts to address this imbalance in the literature by analysing a survey of residents' perceptions of such developments. The paper discusses the issue in the Indian context by considering Sabarmati Riverfront Development Project (SRFD) of Ahmadabad. It gives an overview of the project components of the SRFD; discusses its development issues and concerns associated with it. It further examines the structural relationship between socio-economic and demographic attributes of local residents and their attitudes and perception towards the economic impact of such developments. The study suggests that the economic component that riverfront development will attract more investment in their community and that riverfront development will increase real estate tax revenue emerged as strong components. While the economic component of substantial premiums to developers, land owners and local government and the other of cost of developing riverfront facilities are too much of a burden on government and public sector agencies appear to be weaker economic components of the perceived economic impacts of urban riverfront development. This paper also gives an overview of the urban waterfront development in the global scenario. It highlights the need to consider residents perception in the development of such projects.

Keywords: urban waterfront development, riverfront, economic impact, resident perception, SRFD

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Authors: Tamar Lazariashvili

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There are a number of factors that determine the growth and development of the country's economy; however, trade and economic relations with other countries are the most important of all these factors. The paper analyzes the trade and economic relations between Georgia and Germany, identifies the impediments caused by the Covid pandemic, and substantiates the need for further economic cooperation between the countries. Research objectives. The objective of the research is to develop recommendations and reveal the prospects of further cooperation between Georgia and Germany based on identifying the problems in the field of trade and economy in the post-crisis situation. The research object is Georgian German economic relations. Germany is Georgia's largest trading partner in the European Union. Georgia and Germany actively cooperate within the framework of international organizations as well. The paper analyzes the multilateral and intensive economic relations between Germany and Georgia; evaluates the investments of German companies in Georgia and the activities of Georgian companies in Germany. Research methods. The paper uses general and specific research methods; in particular, analysis, synthesis, induction, deduction, comparison, statistical (selection, grouping, observation, trend), and other research methods.SWOT analysis is used to determine development opportunities between countries. As a result of the research economic ranking of Georgia and Germany are determined according to the above criteria, the causes of the impediments due to the pandemic are studied; the main problems in the field of trade and economy are identified. The paper provides conclusions on the problems in the trade relations between Georgia and Germany and suggests recommendations regarding the prospects for improving these relations.

Keywords: georgia-germany, trade and economic relations, economic ranking, perspective directions

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Authors: Ruchika Yadav

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Street vendors are the integral component of urban economies of the world. They are the distributors of affordable goods and services and provide convenient and accessible retail options to the customers and form a vital part of the social and economic life of a city. A street vendor as an occupation existed for hundreds of years and considered to be as a cornerstone of many cities. In this paper, our objective is to analyze the socio-economic profile of street vendors, identification of their problems and to suggest remedial measures for the betterment based on the observation and suggestions of the street vendors. To conduct this study, primary data has been collected with the help of field survey and direct questionnaire to the respondents in Aligarh City which contains all the information relevant to social and economic conditions. The overall analysis of this study reveals street vendors are the backward sections of the society possess medium to the low-level standard of living due to illiteracy; their working environment and social security issues are not addressed properly. They are unaware of many of the governmental schemes launched for poverty alleviation and their poor accessibility in basic amenities leads to the backward socio-economic status in the society. The results found in this study can be very useful and helping tool for the policymakers to know the socio-economic conditions of the street vendors in detail.

Keywords: abject poverty, socio-economic conditions, street vendors, vulnerability

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Authors: Sylvia Graczka

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Waste related environmental problems are not only exploding but are also spotlighted for capacity shortages in recycling, as China announced its ban on waste imports. According to the waste hierarchy, prevention is the primary solution for waste, and also the cheapest. Waste related environmental pollution as externality puts an ever-growing burden on communities bearing the social costs. Economic policies often claim to be pro-environment, this often appears only theoretically, or at the level of principles. There are few concrete occurrences of tools in economic policies, such as green taxes, that are truly effective in stimulating the shift towards waste reduction. The paper presents theoretical economic policy tools based on literature review, and case studies on applied economic policy tools by analyzing policy papers, strategies in force, in line with ‘polluter pays’ and ‘extended producer responsibility’ principles. The study also emphasizes the differences between the broader notion of waste reduction and that of waste minimization, parallel to the difference between resource efficiency and resource savings. It also puts the issue in the context of neoclassical environmental economics and ecological economics, to present alternatives in approach. The research concludes in identifying effective economic policy tools that support the reduction of material use, and the prevention of waste. Consumer and producer awareness of waste problems and consciousness related to their choices are inevitable to make economic policy tools work effectively.

Keywords: economic policy, producer responsibility, resource efficiency, waste prevention

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Authors: Zubda Zia, Zainab Masood

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This study has investigated the relationship between renewable energy, urbanization, industrialization, and economic growth in Pakistan, through the years 1990-2016. All the three explanatory variables play a pivotal role in their contribution to growth in any economy, especially a developing one such as Pakistan. Auto-regressive distributive lag (ARDL) model has been used to determine the co-integration and relationship between the variables. The empirical results indicate that there exists a positive and significant relationship between all the three variables and economic growth and that there is a stable, long-run relationship among them. Policy suggestions that incorporate the results include having a larger share of renewable energy in the energy sector, using urbanization as a means to remove the big city trend and move towards, smaller sustainable cities, etc.

Keywords: economic growth, energy crisis, industrialization, renewable energy, SGDs, urbanization

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Authors: Badri Gechbaia

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Adaptive management as a fundamental element of the concept of the assurance of economy`s sustainability to the economic security of the system-synergetic type has been considered. It has been proved that the adaptive sustainable development is a transitional phase from the extensive one and later on from the rapid growth to the sustainable development. It has been determined that the adaptive system of the strategic assurance of the sustainability of the economy to the economic security threats is formed on the principles of the domination in its complex of the subsystems with weightier adaptive characteristics that negate the destructive influence of external and internal environmental factors on the sustainability of the national economy.

Keywords: adaptive management, adaptive properties, economic security, strategic assurance

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Authors: Iva Zdrilić, Petra Došenović Bonča, Darija Aleksić

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Since the boundaryless career, with its emphasis on cross-employer movements, was introduced as a new paradigm of career development, inter-organizational employee mobility has been increasing. Although this phenomenon may have positive implications for individual careers and destination organizations, the consequences for the source organizations losing workers are less clear. The aim of this paper is thus to develop a comprehensive typology of possible inter-organizational employee mobility determinants. Since the most common classification differentiates between mobility determinants at different levels (i.e., economic, organizational, and individual), this paper focuses on building a comprehensive multi-level typology of inter-organizational mobility determinants across diverse sectors and industries. By using a structured literature review approach and bibliometric analysis, the paper reveals both intricate relationships between different mobility determinants and the complexity of inter-organizational networks and social ties. The latter appears as both a mobility determinant (at the organizational and individual level) and a mobility effect. Indeed, inter-organizational employee mobility leads to the formation of networks between source and destination organizations. These networks are practically based on the social ties between mobile employees and their colleagues and, in this way, they close the "inter-organizational employee mobility - inter-organizational network/ties" circle. The paper contributes to the career development literature by uncovering hitherto underexplored diverse determinants of intra- and inter-sectoral mobility as well as the conflicting results of the existing studies on some factors (e.g., inter-organizational networks and/or social ties) that appear both as a mobility determinant and a mobility effect.

Keywords: inter-organizational mobility, social ties, inter-organizational network, knowledge transfer

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Authors: M. Assaad, J. Mäkiö, T. Mäkelä, M. Kankaanranta, N. Fachantidis, V. Dagdilelis, A. Reid, C. R. del Rio, E. V. Pavlysh, S. V. Piashkun

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To bring science and society together in Europe, thus increasing the continent’s international competitiveness, STEM (science, technology, engineering and mathematics) education must be more relatable to European youths in their everyday life. STIMEY (Science, Technology, Innovation, Mathematics, Engineering for the Young) project researches and develops a hybrid educational environment with multi-level components that is being designed and developed based on a well-researched pedagogical framework, aiming to make STEM education more attractive to young people aged 10 to 18 years in this digital era. This environment combines social media components, robotic artefacts, and radio to educate, engage and increase students’ interest in STEM education and careers from a young age. Additionally, it offers educators the necessary modern tools to deliver STEM education in an attractive and engaging manner in or out of class. Moreover, it enables parents to keep track of their children’s education, and collaborate with their teachers on their development. Finally, the open platform allows businesses to invest in the growth of the youths’ talents and skills in line with the economic and labour market needs through entrepreneurial tools. Thus, universities, schools, teachers, students, parents, and businesses come together to complete a circle in which STEM becomes part of the daily life of youths through a hybrid educational environment that also prepares them for future careers.

Keywords: e-learning, entrepreneurship, pedagogy, robotics, serious gaming, social media, STEM education

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Authors: Jonardan Koner

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The study attempts to find out the impact of infrastructural investment on state economic growth in India. It further tries to determine the magnitude of the impact of infrastructural investment on economic indicator, i.e., per-capita income (PCI) in Indian States. The study uses panel regression technique to measure the impact of infrastructural investment on per-capita income (PCI) in Indian States. Panel regression technique helps incorporate both the cross-section and time-series aspects of the dataset. In order to analyze the difference in impact of the explanatory variables on the explained variables across states, the study uses Fixed Effect Panel Regression Model. The conclusions of the study are that infrastructural investment has a desirable impact on economic development and that the impact is different for different states in India. We analyze time series data (annual frequency) ranging from 1991 to 2010. The study reveals that the infrastructural investment significantly explains the variation of economic indicators.

Keywords: infrastructural investment, multiple regression, panel regression techniques, economic development, fixed effect dummy variable model

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Authors: Emma Serwaa Obobisaa, Haibo Chen

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International trade and outward foreign direct investment are important factors which are generally recognized in the economic growth and development. Though several scholars have struggled to reveal the influence of trade and outward foreign direct investment (FDI) on economic growth, most studies utilized common econometric models such as vector autoregression and aggregated the variables, which for the most part prompts, however, contradictory and mixed results. Thus, there is an exigent need for the precise study of the trade and FDI effect of economic growth while applying strong econometric models and disaggregating the variables into its separate individual variables to explicate their respective effects on economic growth. This will guarantee the provision of policies and strategies that are geared towards individual variables to ensure sustainable development and growth. This study, therefore, seeks to examine the causal effect of China-Africa trade and Outward Foreign Direct Investment on the economic growth of Africa using a robust and recent econometric approach such as system dynamics model. Our study impanels and tests an ensemble of a group of vital variables predominant in recent studies on trade-FDI-economic growth causality: Foreign direct ınvestment, international trade and economic growth. Our results showed that the system dynamics method provides accurate statistical inference regarding the direction of the causality among the variables than the conventional method such as OLS and Granger Causality predominantly used in the literature as it is more robust and provides accurate, critical values.

Keywords: economic growth, outward foreign direct investment, system dynamics model, international trade

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Authors: Sara Sousa

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The environmental goods and services have often been neglected in crucial decisions affecting the environment mainly because the difficulty in estimating their economic value, since we are dealing with non-market goods and, thus, without a price associated. Nevertheless, the inexistence of prices does not necessarily mean these goods have no value. The environment is a key element in today's society that seeks to be as sustainable as possible, where the environmental assets have both use and non-use values. To estimate the use value, researchers may apply the revealed preference methods. This paper provides a theoretical review of the main concepts and methodologies on the economic valuation of the environment, with particular emphasis on the revealed preference techniques. Based on a detailed literature review, this study concludes that, despite some inherent limitations, the revealed preference methodologies – travel cost, hedonic price, and averting behaviour – represent essential tools for the researchers who accept the challenge to estimate the use value of environmental goods and services based on the actual individuals` behaviour. The main purpose of this study is to contribute to an increased theoretical information on the economic valuation of environmental assets, allowing researchers and policymakers to improve future decisions regarding the environment.

Keywords: economic valuation, environmental goods, revealed preference methods, total economic value

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Authors: Sinem Bagce, Ensar Yilmaz

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As a well-known fact, neoclassical economics excludes 'what is humanized' out of the literature for a long time. Rationality is defined in a very narrow context in the mainstream economics. Identity economics is one of the challenges raised against this tradition. The concept of 'identity' has been introduced to economics by Akerlof and Kranton (2000). The identity-based analysis mainly searches the links between economic welfare and decision of the actors in question related to ethnic, racial, gender and immigrant issues. This is more about discrimination and its repercussions on economic decisions of the relevant actors in a social sphere. In this article, we, in the context of identity economics, search the economic welfare and decisions of Romani people in Turkey. It is plainly observed that identity is clearly the major determinant for Romani people in economic and social life. They have their own distinctive rationality in making economic decisions. For a more scrutinized and academic analysis, we aim to trace their economic identity in their real social environment. This study is an extension of surveys conducted on Romani people in Turkey. Using data similar to SILC (Statistics for Income and Living Conditions) conducted on Romani people across the whole Turkey, we look for some questions about the income/welfare distribution among them, consumer preferences/habits, living conditions, occupations, education and as such. For this, by employing econometric and statistical analytical tools, we aim to obtain the answers for these questions. We think these analytic results will provide us to evaluate the links between their economic state and their identity more thoroughly. JEL Codes: D1, J 15, R23.

Keywords: identity economics, Romani people, discrimination, social identity and preferences

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Authors: Ali Isapour, Ramin Nateghi

Abstract:

— Markov parameters are unique parameters of the system and remain unchanged under similarity transformations. Markov parameters from a power series that is convergent only if the system matrix’s eigenvalues are inside the unity circle. Therefore, Markov parameters of a stable discrete-time system are convergent. In this study, we aim to realize the system based on Markov parameters by using Artificial Neural Networks (ANN), and this end, we use Flexible Neural Networks. Realization means determining the elements of matrices A, B, C, and D.

Keywords: Markov parameters, realization, activation function, flexible neural network

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Authors: Stella Nkechi Ezeaku, Ifunanya Nkechi Ohamobi

Abstract:

This study investigated the impact of economic crisis on education in Anambra state. The population of the study comprised of all principals and teachers in Anambra state numbering 5,887 (253 principles and 5,634 teachers). To guide the study, three research questions and one hypothesis were formulated correlational design was adopted. Stratified random sampling technique was used to select 200 principals and 300 teachers as respondents for the study. A researcher-developed instrument tagged Impact of Economic Crisis on Education questionnaire (IECEQ) was used to collect data needed for the study. The instrument was validated by experts in measurement and evaluation. The reliability of the instrument was established using randomly selected members of the population who did not take part in the study. The data obtained was analyzed using Cronbach alpha technique and reliability co-efficient of .801 and .803 was obtained. The data were analyzed using simple and Multiple Regression Analysis. The formulated hypothesis was tested at .05 level of significance. Findings revealed that: there is a significant relationship between economic crisis and realization of goals of secondary education. The result also shows that economic crisis affect students' academic performance, teachers' morale and productivity and principals' administrative capability. This study therefore concludes that certain strategies must be devised to minimize the impact of economic crisis on secondary education. It is recommended that all stakeholders to education should be more resourceful and self-sufficient in order to cushion the effects of economic crisis currently gripping most world economies Nigeria inclusive.

Keywords: impact, economic, crisis, education

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