Search results for: economic value added

Authors: Zintle Sikhunyana

Abstract:

Management of public finance in many countries such as South Africa is affected by political decisions and by policies around fiscal decentralization amongst the government spheres. Economic success is said to be determined by efficient management of public finance and by the policies or strategies that are implemented to support efficient public finance management. Policymakers focus on pay attention to how economic policies have been implemented and how they are directed into ensuring stable development. This will allow policymakers to address economic challenges through the usage of fiscal policy parameters that are linked to the achieved rate of economic growth and development. Efficient public finance management reduces the likelihood of corruption and corruption is said to have negative effects on economic growth and development. Corruption in public finance refers to an act of using funds for personal benefits. To achieve macroeconomic objectives, governments make use of government expenditure and government expenditure is financed through tax revenue. The main aim of this paper is to investigate the potential impact of public finance management on economic growth and development in South Africa. The secondary data obtained from the South African Reserve Bank (SARB) and World Bank for 1980- 2020 has been utilized to achieve the research objectives. To test the impact of public finance management on economic growth and development, the study will use Seeming Unrelated Regression Equation (SURE) Modelling that allows researchers to model multiple equations with interdependent variables. The advantages of using SUR are that it efficiently allows estimation of relationships between variables by combining information on different equations and SUR test restrictions that involve parameters in different equations. The findings have shown that there is a positive relationship between efficient public finance management and economic growth/development. The findings also show that efficient public finance management has an indirect positive impact on economic growth and development. Corruption has a negative impact on economic growth and development. It results in an efficient allocation of government resources and thereby improves economic growth and development. The study recommends that governments who aim to stimulate economic growth and development should target and strengthen public finance management policies or strategies.

Keywords: corruption, economic growth, economic development, public finance management, fiscal decentralization

Procedia PDF Downloads 187

Authors: Elena Carcano, James Ball

Abstract:

This work details the strategies adopted by the Italian Water Utilities during the distribution of water in emergency conditions which glide from earthquakes and droughts to floods and fires. Several water bureaus located over the national territory have been interviewed, and the collected information has been used in a database of potential interventions to be taken. The work discusses the actions adopted by water utilities. These are generally prioritized in order to minimize the social, temporal, and economic burden that the damaged and nearby areas need to support. Actions are defined relying on the Bayesian Network Approach, which constitutes the hard core of any decision support system. The Bayesian Networks give answers to interventions to real and most likely risky cases. The added value of this research consists in supplying the National Bureau, namely Protezione Civile, in charge of managing havoc and catastrophic situations with a univocal plot outline so as to be able to handle actions uniformly at the expense of different local laws or contradictory customs which squander any recovery conditions, proper technical service, and economic aids. The paper is organized as follows: in section 1, the introduction is stated; section 2 provides a brief discussion of BNNs (Bayesian Networks), section 3 introduces the adopted methodology; and in the last sections, results are presented, and conclusions are drawn.

Keywords: hierarchical process, strategic plan, water emergency conditions, water supply

Procedia PDF Downloads 141

Authors: Yahya A. Sadiq, Grace F. Balogun, Olufemi J. Anjorin

Abstract:

This study analyzed the spatial distribution of socio-economic factors in Kogi state with a view to examining its implications on the development of the state. Consequently, questionnaires were administered on both the selected individual respondents (784) in the state and on the administrative offices (local council offices, 21) to solicit relevant information on the spatial distribution of socio-economic factors in their areas. The collected data were tabulated and analyzed using percentages. The study revealed commerce/trade, education, and health care, etc. as the major socio-economic factors in the state but with marked variation/imbalance in their spatial distribution across the study area. The rural-based local government areas have far less of such important facilities. Conclusively, it was recommended that there is need for socio-economic transformation of living conditions of people in the study area especially by positively redistributing local political power and the resources that are abound in the state will be felt by everybody including the commoners.

Keywords: development, local government areas (LGAs), spatial distribution, socio-economic factors

Procedia PDF Downloads 389

Authors: Kashan Bashir, Salah Naji Ahmed Sufyan, Mirza Umar Baig

Abstract:

In this study, n-dodecane, tetralin, decalin, and tetramethybenzene (TMBE) were used as model compounds of alkanes, naphthenic-aromatic, cycloalkanes and alkyl-benzenes presented in hydro-diesel. The catalytic cracking properties of four model compounds over Y zeolite catalyst (Y-Cat.) and ZSM-5 zeolite catalysts (ZSM-5-Cat.) were probed. The experiment results revealed that high conversion of macromolecular paraffin and naphthenic aromatics were achieved over Y-Cat, whereas its low cracking activity of intermediate products micromolecules paraffin and olefin and high activity of hydride transfer reaction goes against the production of value-added products (light olefin and gasoline). In contrast, despite the fact that the hydride transfer reaction was greatly inhabited over ZSM-5-Cat, the low conversion of macromolecules was observed attributed to diffusion limitations. Interestingly, the mixed catalyst compensates for the shortcomings of the two catalysts, and a “relay reaction” between Y-Cat and ZSM-5-Cat was proposed. Specifically, the added Y-Cat acts as a “pre-cracking booster site” and promotes macromolecules conversion. The addition of ZSM-5-Cat not only significantly suppresses the hydride transfer reaction but also contributes to the cracking of immediate products paraffin and olefin into ethylene and propylene, resulting in a high yield of alkyl-benzene (gasoline), ethylene, and propylene with a low yield of naphthalene (LCO) and coke. The catalytic cracking evaluation experiments of mixed hydro-LCO were also performed to further clarify the “relay reaction” above, showing the highest yield of LPG and gasoline over mixed catalyst. The results indicate that the Y-cat and ZSM-5-cat have a synergistic effect on the conversion of hydro-diesel and corresponding value-added product yield and selective coke yield.

Keywords: synergistic effect, hydro-diesel cracking, FCC, zeolite catalyst, ethylene and propylene

Procedia PDF Downloads 56

Authors: Edmund Kwablah, Anthony Amoah

Abstract:

The merits associated with Foreign Direct Investment (FDI) inflows to host countries in Sub-Saharan Africa cannot be overemphasized. Against this background, countries have sought to design and implement strategic policies geared towards enhacing FDI and promoting economic growth. In this study, we used the Fully Modified Ordinary Least Squares technique and a panel data for Sub-Saharan African (SSA) countries spanning from 1998 to 2016. We hypothesize that FDI’s effect on economic growth is contingent on some absorptive capacities (e.g., financial market development and economic freedom) of the host country. We used financial market data that accounts for market fragility as a measure of financial market development and economic freedom data which uses the overall score of all the freedom indicators as a measure of economic freedom. Our results suggest that FDI has a statistically positive effect on economic growth when we account for host country’s absorptive capacities. However, a negative relationship will ensue if these absorptive capacities are not accounted for. We recommend that a developing continent like SSA should focus on identifying and building the relevant absorptive capacities that can translate the effect of FDI into a positive growth. This is because an economy with sound absorptive capacities reduces business risk and spur economic growth.

Keywords: FDI, absorptive capacity, economic growth, FMOLS, Fully Modified Ordinary Least Squares, SSA

Procedia PDF Downloads 175

Authors: Amadou Banda Ndione, Charles Awono Onana

Abstract:

In this paper the compartmental approach is applied to build a macroeconomic model characterized by countries. We consider a total of N countries that are subdivided into three compartments according to their economic status: D(t) denotes the compartment of developing countries at time t, E(t) stands for the compartment of emerging countries at time t while A(t) represents advanced countries at time t. The model describes the process of economic development and includes the notion of openness through collaborations between countries. Two delays appear in this model to describe the average time necessary for collaborations between countries to become efficient for their development process. Our model represents the different stages of development. It further gives the conditions under which a country can change its economic status and demonstrates the short-term positive effect of openness on economic growth. In addition, we investigate bifurcation by considering the delay as a bifurcation parameter and examine the onset and termination of Hopf bifurcations from a positive equilibrium. Numerical simulations are provided in order to illustrate the theoretical part and to support discussion.

Keywords: compartmental systems, delayed dynamical system, economic development, fiscal policy, hopf bifurcation

Procedia PDF Downloads 126

Authors: Muhammad Ali Asadullah, Zafarullah Amir

Abstract:

In recent years, Vocational Education and Training (VET) has been under discussion by the academic researchers and remained in focus in the political grounds. Due to potential contribution of VET, the World Bank and United Nations Educational, Scientific and Cultural Organization (UNESCO) support vocational education to reduce poverty, enhance economic growth and increase competitiveness. This paper examines the impact of Vocational Education and Training on the Economic Growth and Social Inclusion with direct and mediation effect of Social Inclusion. The basic purpose of this study is to assess economic pay-offs as a result of long term investments in VET. Based on the review of Anderson Nilsson, initially we explored the increasing or decreasing trend in investment on VET. Further, the study explores that the countries which invest more on VET, tend to get more economic growth and are socially more ‘inclusive’. It is a longitudinal / panel data study with 12 years of registered data which involves 24 OECD countries. The results of the study indicate the VET has positive association with Social Inclusion and Economic Growth. Further, there is also a positive association of VET and Economic Growth through mediation of Social Inclusion. The current study considers not only issue and challenges in developing VET systems but also contributes to develop the theoretical framework for considering how VET can directly and indirectly improve economic growth and social inclusion. A wider appreciation of how VET’s benefits operate may influence a country’s decisions to invest in it. If policy makers increase investment on VET, the result would be positive in Economic Growth and Social Inclusion. It is also recommended that the same OECD model may be implemented in developing countries like Pakistan.

Keywords: Vocational Education and Training (VET), Social Inclusion, Economic Growth, OECD countries

Procedia PDF Downloads 297

Authors: Bülent Kantar, Numan Ünaldı

Abstract:

This paper presents a new method which includes robust and invisible digital watermarking on images that is colored. Colored images are used as watermark. Frequency region is used for digital watermarking. Discrete wavelet transform and discrete stationary wavelet transform are used for frequency region transformation. Low, medium and high frequency coefficients are obtained by applying the two-level discrete wavelet transform to the original image. Low frequency coefficients are obtained by applying one level discrete stationary wavelet transform separately to all frequency coefficient of the two-level discrete wavelet transformation of the original image. For every low frequency coefficient obtained from one level discrete stationary wavelet transformation, watermarks are added. Watermarks are added to all frequency coefficients of two-level discrete wavelet transform. Totally, four watermarks are added to original image. In order to get back the watermark, the original and watermarked images are applied with two-level discrete wavelet transform and one level discrete stationary wavelet transform. The watermark is obtained from difference of the discrete stationary wavelet transform of the low frequency coefficients. A total of four watermarks are obtained from all frequency of two-level discrete wavelet transform. Obtained watermark results are compared with real watermark results, and a similarity result is obtained. A watermark is obtained from the highest similarity values. Proposed methods of watermarking are tested against attacks of the geometric and image processing. The results show that proposed watermarking method is robust and invisible. All features of frequencies of two level discrete wavelet transform watermarking are combined to get back the watermark from the watermarked image. Watermarks have been added to the image by converting the binary image. These operations provide us with better results in getting back the watermark from watermarked image by attacking of the geometric and image processing.

Keywords: watermarking, DWT, DSWT, copy right protection, RGB

Procedia PDF Downloads 522

Authors: Ezeabasili Chibuike Patrick

Abstract:

The complex situation of construction industries in Nigeria and the risk of failures involved includes cost overrun, time overrun, Corruption, Government influence, Subcontractor challenges, Political influence and Instability, Cultural differences, Human resources deficiencies, cash flow Challenges, foreign exchange issues, inadequate design, Safety, low productivity, late payment, Quality control issues, project management issues, Environmental issues, Force majeure Competition amongst others has made the industry prone to risk and failures. Good project management remains effective in improving decision-making, which minimizes these risk events. This study was done to address these project risks and good decision-making to avert them. A mixed-method approach to research was used to do this study. Data collected by questionnaires and interviews on thirty-two (32) construction professionals was used in analyses to aid the knowledge and management of risks that were identified. The study revealed that there is no good risk management expertise in Nigeria. Also, that the economic/political situation and the recent COVID-19 pandemic has added to the risk and poor management strategies. The contingency theory and cost has therefore surfaced to be the most strategic management method used to reduce these risk issues and they seem to be very effective.

Keywords: strategies, risk management, contingency theory, Nigeria

Procedia PDF Downloads 112

Authors: Jamila Garba Audu, Peter Adamu

Abstract:

This study investigates the role of forensic accounting in the fight against corruption in Nigeria for better utilization of public funds and economic growth and development of the Country. We adopted a trend analysis to show the performance of the Nigerian economy as well as the quality of institutions which government economic and political activities in the country. It is an established fact that Nigeria has performed badly since the 1960s to date in terms of institutional quality and economic development despite large amount of money obtained from the export of crude oil. It was revealed also that the fight against corruption has not been very successful in recent times because experts in the field of forensic accounting have not been utilized. With the successes recorded in dealing with fraud and embezzlement using forensic accounting, it has become imperative for the EFCC to use forensic accountants in the fight against corruption in the country. Also, there is the need to introduce very seriously, the teaching of forensic accounting in Nigerian Universities to train experts.

Keywords: corruption, economic performance, forensic accounting, Nigeria

Procedia PDF Downloads 359

Authors: R. Buntem, K. Samkongngam

Abstract:

The silicate glass was prepared using rice husk as the source of silica. The base composition of glass sample is composed of SiO2 (from rice husk ash), Na2CO3, K2CO3, ZnO, H3BO3, CaO, Al2O3 or Al, and CuO. Aluminum is used in place of Al2O3 in order to reduce Cu2+ to Cu+. The red color of Cu2O in the glass matrix was observed when the Al was added into the glass mixture. The expansion coefficients of the copper doped glass are in the range of 1.2 x 10-5-1.4x10-5 (ºC -1) which is common for the silicate glass. The finger prints of the bond vibrations were studied using IR spectroscopy. While the oxidation state and the coordination information of the copper ion in the glass matrix were investigated using X-ray absorption spectroscopy. From the data, Cu+ and Cu2+ exist in the glass matrix. The red particles of Cu2O can be formed in the glass matrix when enough aluminum was added.

Keywords: copper in glass, coordination information, silicate glass, XANES spectrum

Procedia PDF Downloads 250

Authors: Amaefule, Leonard Ifeanyi

Abstract:

The study evaluated the disruptions in Nigeria’s domestic economic activities occasioned by the COVID-19 pandemic: a pre and post-pandemic investigation approach. Domestic economic activities were measured with composite manufacturing purchasing managers index (PMI) and composite non-manufacturing PMI. Production and employment levels indices were proxies for composite manufacturing PMI, while business activities and employment level indices were proxies for non-manufacturing PMI. Data for these indices were sourced from monthly and quarterly publications of the Central Bank of Nigeria for periods covering fifteen (15) months before and 15 months after the outbreak of the virus in Nigeria. Test of equality of means was employed in establishing the significance of the difference of means between the pre and post-pandemic domestic economic activities. Results from the analysis indicated that a significant negative difference exists in each of the measures of domestic economic activities between the pre and post-pandemic periods. These findings, therefore, offer empirical evidence that the COVID-19 pandemic has disrupted domestic economic activities in Nigeria; thus, it exerts a negative influence on the measures of the nation’s domestic economic activities. The study thus recommended (among other things) that the Nigerian government should focus on policies that would enhance domestic production, employment and enhance business activities.

Keywords: COVID-19, domestic economic activities, composite manufacturing indices, composite non-manufacturing indices

Procedia PDF Downloads 160

Authors: Temitope L. A. Leshoro

Abstract:

This study explored several variables that enhance economic growth in South Africa, based on different growth theories while using the vector error correction model (VECM) technique. The impacts and contributions of each of these variables on GDP in South Africa were investigated. The motivation for this study was as a result of the weak economic growth that the country has been experiencing lately, as well as the continuous increase in unemployment rate and deteriorating health care system. Annual data spanning over the period 1974 to 2013 was employed. The results showed that the major determinants of GDP are trade openness, government spending, and health indicator; as these variables are not only economically significant but also statistically significant in explaining the changes in GDP in South Africa. Policy recommendations for economic growth enhancement are suggested based on the findings of this study.

Keywords: economic growth, GDP, investment, health indicator, VECM

Procedia PDF Downloads 264

Authors: Sumeyra Sevim, Gulsum Gizem Topal, Mercan Merve Tengilimoglu-Metin, Banu Sancak, Mevlude Kizil

Abstract:

Aflatoxin M1 (AFM1) represents mutagenic, carcinogenic, hepatotoxic and immunosuppressive properties, and shows adverse effect on human health. Recently the use of probiotics are focused on AFM1 detoxification because of the fact that probiotic strains have a binding ability to AFM1. Moreover, inulin is a prebiotic to improve the ability of probiotic bacteria. Therefore, the aim of the study is to investigate the effect of inulin on AFM1 binding ability of some probiotic bacteria. Yoghurt samples were manufactured by using skim milk powder artificially contaminated with AFM1 at concentration 100 pg/ml. Different samples were prepared for the study as: first sample consists of yoghurt starter bacteria (L. bulgaricus and S. thermophilus), the second sample consists of starter and L. plantarum, starter and B. bifidum ATCC were added to the third sample, starter and B. animalis ATCC 27672 were added to the forth sample, and the fifth sample is a binary culture consisted of starter and B. bifidum and B. animalis. Moreover, the same work groups were prepared with inulin (4%). The samples were incubated at 42°C for 4 hours, then stored for three different time interval (1,5 and 10 days). The toxin was measured by the ELISA. When inulin was added to work groups, there was significant change on AFM1 binding ability at least one sample in all groups except the one with L. plantarum (p<0.05). The highest levels of AFM1 binding ability (68.7%) in samples with inulin were found in the group which B. bifidum was added, whereas the lowest levels of AFM1 binding ability (44.4%) in samples with inulin was found in the fifth sample. The most impressive effect of inulin was found on B.bifidum. In this study, it was obtained that there was a significant effect of storage on AFM1 binding ability in the all groups with inulin except the one with L. plantarum (p<0.05). Consequently, results show that AFM1 detoxification by probiotics have a potential application to reduce toxin concentrations in yoghurt. Besides, inulin has different effects on AFM1 binding ability of each probiotic bacteria strain.

Keywords: aflatoxin M1, inulin, probiotics, storage

Procedia PDF Downloads 300

Authors: Christian Gaigl, Martin Mensinger

Abstract:

Once a fire resistance rating is necessary, it has to be proofed that the load bearing behavior of a steel construction under the exposure of fire still fits the static demands. High costs of passive fire protection, which satisfies the requirements, frequently result in a concrete solution. To optimize these expenses, one method is to determine the critical temperature according to the Eurocode DIN EN 1993-1-2. For this purpose, positive effects of hot-dip galvanized surface layers on the temperature development of steel members in the accidental situation of fire exposure has been investigated. The test results show a significant better heating behavior of hot-dip galvanized steel components compared to normal steel specimen. This leads in many cases to a R30 (30 minutes of ISO-fire) fire protection requirement of unprotected steel members and therefore to an economic added value.

Keywords: fire resistance, hot-dip galvanizing, steel constructions, R30 requirement, emissivity

Procedia PDF Downloads 243

Authors: Amin Mojiri, Akiyoshi Ohashi, Tomonori Kindaichi

Abstract:

Synthetic domestic wastewater was treated via combining treatment methods, including electrochemical oxidation, adsorption, and sequencing batch reactor (SBR). In the upper part of the reactor, an anode and a cathode (Ti/RuO₂-IrO₂) were organized in parallel for the electrochemical oxidation procedure. Sodium sulfate (Na₂SO₄) with a concentration of 2.5 g/L was applied as the electrolyte. The voltage and current were fixed on 7.50 V and 0.40 A, respectively. Then, 15% working value of the reactor was filled by activated sludge, and 85% working value of the reactor was added with synthetic wastewater. Powdered cockleshell, 1.5 g/L, was added in the reactor to do ion-exchange. Response surface methodology was employed for statistical analysis. Reaction time (h) and pH were considered as independent factors. A total of 97.0% biochemical oxygen demand, 99.9% phosphorous and 88.6% cadmium were eliminated at the optimum reaction time (80.0 min) and pH (6.4).

Keywords: adsorption, electrochemical oxidation, metals, SBR

Procedia PDF Downloads 202

Authors: Rumeysa Terzioglu

Abstract:

Social entrepreneurship is not only a new concept but also an engaging factor of development that utilizes opportunities in economic and social areas for women. Social entrepreneurs have experience in determining and solving social problems with community participation. Social entrepreneurship is a consequence of individual social and economic initiatives contributing to women’s social and economic development against poverty. Women’s empowerment is an essential point for development. Türkiye has been developing an alternative empowerment model for women affected by the national development plan. Social entrepreneurship is an alternative model of social and economic empowerment of women’s status in Türkiye.

Keywords: social entrepreneurship, women, women empowerment, development

Procedia PDF Downloads 79

Authors: Giorgi Bregadze

Abstract:

Tourism is the most viable and sustainable economic development option for Georgia and one of the main sources of foreign exchange earnings. Events are considered as one of the most effective ways to attract foreign visitors to the country, and, recently, the government of Georgia has begun investing in this sector very actively. This article stresses the necessity of research based economic policy in the tourism sector. In this regard, it is of paramount importance to measure the economic effects of the events which are subsidized by taxpayers’ money. The economic effect of events can be analyzed from two perspectives; financial perspective of the government and perspective of economic effects of the tourism administration. The article emphasizes more realistic and all-inclusive focus of the economic effect analysis of the tourism administration as it concentrates on the income of residents and local businesses, part of which generate tax revenues for the government. The public would like to know what the economic returns to investment are. In this article, the methodology used to describe the economic effects of UEFA Super Cup held in Tbilisi, will help to answer this question. Methodology is based on three main principles and covers three stages. Using the suggested methodology article estimates the direct economic effect of UEFA Super cup on Georgian economy. Although the attempt to make an economic effect analysis of the event was successful in Georgia, some obstacles and insufficiencies were identified during the survey. The article offers several recommendations that will help to refine methodology and improve the accuracy of the data. Furthermore, it is very important to receive the correct standard of measurement of events in Georgia. In this caseü non-ethical acts of measurement which are widely utilized by different research companies will not trigger others to show overestimated effects. It is worth mentioning that to author’s best knowledge, this is the first attempt to measure the economic effect of an event held in Georgia.

Keywords: biased economic effect analysis, expenditure of local citizens, time switchers and casuals, UEFA super cup

Procedia PDF Downloads 142

Authors: Givi Kupatadze

Abstract:

Backward economies are facing a challenge of achieving sustainable high economic growth rate. Dominant growth models represent a roadmap in framing economic development strategy. This paper examines a relevance of the dominant growth models for backward economies. Cobb-Douglas production function, the Harrod-Domar model of economic growth, the Solow growth model and general formula of gross domestic product are examined to undertake a comprehensive study of the dominant growth models. Deductive research method allows to uncover major weaknesses of the dominant growth models and to come up with practical implications for economic development strategy. The key finding of the paper shows, contrary to what used to be taught by textbooks of economics, that constant returns to scale property of the dominant growth models are a mere coincidence and its generalization over space and time can be regarded as one of the most unfortunate mistakes in the whole field of political economy. The major suggestion of the paper for backward economies is that understanding and considering taxonomy of economic activities based on increasing and diminishing returns to scale represent a cornerstone of successful economic development strategy.

Keywords: backward economies, constant returns to scale, dominant growth models, taxonomy of economic activities

Procedia PDF Downloads 361

Authors: S. Flynn

Abstract:

This paper offers a focused commentary on the impact of the current economic downturn on children with ID (intellectual disability), and their families, in the Republic of Ireland. It will examine the practical challenges, serious concerns, and trends in the field of disability with specific regard to the impact of the economic downturn in the Irish context. This includes the impact of cutbacks to services and supports, and the erosion of possibilities for life progression for children with ID as evident within the existing body of research. This focused commentary on core and seminal literature, policy and research will then be used to provide a discussion on what are the core points of learning for policy makers, researchers, practitioners and society as whole.

Keywords: children, disability, economic, recession

Procedia PDF Downloads 303

Authors: K. G. Sorokozherdyev, E. A. Efimov

Abstract:

The socio-economic development of regions and countries is an important research issue. Today, in the face of many negative events in the global and regional economies, it is especially important to identify those areas that can serve as sources of economic growth and the basis for the well-being of the population. This study aims to identify the most important sectors of the economy of the Arkhangelsk region that can contribute to the socio-economic development of the region as a whole. For research, the Arkhangelsk region was taken as one of the typical Russian regions that do not have significant reserves of hydrocarbons nor there are located any large industrial complexes. In this regard, the question of possible origins of economic growth seems especially relevant. The basis of this study constitutes the distributed lag regression model (ADL model) developed by the authors, which is based on quarterly data on the socio-economic development of the Arkhangelsk region for the period 2004-2016. As a result, we obtained three equations reflecting the dynamics of three indicators of the socio-economic development of the region -the average wage, the regional GRP, and the birth rate. The influencing factors are the shares in GRP of such sectors as agriculture, mining, manufacturing, construction, wholesale and retail trade, hotels and restaurants, as well as the financial sector. The study showed that the greatest influence on the socio-economic development of the region is exerted by such industries as wholesale and retail trade, construction, and industrial sectors. The study can be the basis for forecasting and modeling the socio-economic development of the Arkhangelsk region in the short and medium term. It also can be helpful while analyzing the effectiveness of measures aimed at stimulating those or other industries of the region. The model can be used in developing a regional development strategy.

Keywords: regional economic development, regional sectoral structure, ADL model, Arkhangelsk region

Procedia PDF Downloads 91

Authors: Disha Batra

Abstract:

With the advent of economic reforms in India in 1992, economic journalism in India has undergone a sea change along with the rise in the Indian economy. Squeezing out of economic news stories (economy-in-general) over business (individual corporate stories) and financial (financial and equity markets) news stories have been done and are still underway. The objective of the study is to explore how economic journalism – news stories about macroeconomic issues or economy-in-general has changed over the past three decades with the emergence of LPG (Liberalisation, Privatisation, and Globalisation) policies in India. The purpose of the study is to examine to what extent business and financial news are constricting economic news which is done by analysing news stories and content of business papers. The study is based on the content analyses of the top three Indian business dailies as per IRS (Indian Readership Survey) 2017. The parametric analysis of the different parameters (source of information, sub-topic, a dominant source in economic news, layout and framing, etc.) has been done in order to come across with the distinct adaptations and modifications by these dailies. The paper significantly dwells upon the thematic analysis of these newspapers in order to explore and find out the coverage given to various sub-themes of EBF (economic, business, and financial) journalism. The study revealed that stories concerning broader issues about the economy which are likely to be of public concern had been dropped. The paper further indicates an upward trend for the stories concerning individual corporate, equity, and financial markets. Findings of the study raise concern over the indicated disparity between economic and business news stories which may further limit the information that people need in order to make well-versed decisions.

Keywords: business-papers, business news, economic news, financial news

Procedia PDF Downloads 123

Authors: Mohammed Yagoub

Abstract:

The new orientation to the market economy sponsored by the Algeria government in the early Nineties of the last century, and its desire to develop investment mechanisms and the promotion of development recently, the access into a partnership with the European Union, and the forthcoming accession to the World Trade Organization, foreign direct investment makes one of the most important means of opening up to foreign markets and bring technology and interact with globalization, this article we will discuss the impact of FDI on economic growth in the Algerian.

Keywords: economic, development, markets, FDI, displacement, globalization

Procedia PDF Downloads 346

Authors: Jihye Jeon

Abstract:

This paper analyzes the political and economic issues that people with disabilities face related to globalization; how people with disabilities have been adapting globalization and surviving under worldwide competition system. It explains that economic globalization exacerbates inequality and deprivation of people with disabilities. The rising tide of neo-liberal welfare policies emphasized efficiency, downsized social expenditure for people with disabilities, excluded people with disabilities against labor market, and shifted them from welfare system to nothing. However, there have been people with disabilities' political responses to globalization, which are characterized by a global network of people with disabilities as well as participation to global governance. Their resistance can be seen as an attempt to tackle the problems that economic globalization has produced. It is necessary paradigm shift of disability policy from dependency represented by disability benefits to independency represented by labor market policies for people with disabilities.

Keywords: economic globalization, people with disability, deprivation, welfare cut, disability right movement, resistance

Procedia PDF Downloads 454

Authors: Francis Chinweuba Eboh, Tobias Richards

Abstract:

In this study, a waste-to-energy combined heat and power plant under construction was modelled and simulated with the Aspen Plus software. The base case process plant was evaluated and compared when integrated with flue gas condensation (FGC) in order to find out the impact of the exergy efficiency and economic feasibility as well as the effect of overall system exergy losses and revenue generated in the investigated plant. The economic evaluations were carried out using the vendor cost data from Aspen process economic analyser. The results indicate that 4 % increase in the exergy efficiency and 29 % reduction in the exergy loss in the flue gas were obtained when the flue gas condensation was incorporated. Furthermore, with the integrated FGC, the net present values (NPV) and income generated in the base process plant were increased by 29 % and 10 % respectively after 20 years of operation.

Keywords: economic feasibility, exergy efficiency, exergy losses, flue gas condensation, waste-to-energy

Procedia PDF Downloads 178

Authors: Melissa Dickinson

Abstract:

In the context of intense global competitiveness and urban transformations, today’s cities are faced with enormous challenges. There is increasing pressure among cities and regions to respond promptly and efficiently to fierce market progressions, to offer a competitive advantage, higher flexibility, and to be pro-active in creating future markets. Consequently, competition among cities and regions within the dynamics of a worldwide spatial economic system is growing fiercer, amplifying the importance of intangible capital in shaping the competitive and dynamic economic performance of organisations and firms. Accordingly, this study addresses how intangible capital influences urban economic development within an urban environment. Despite substantial research on the economic, and strategic determinants of urban economic development this multidimensional phenomenon remains to be one of the greatest challenges for economic geographers. The research provides a unique contribution, exploring intangible capital through the lenses of entrepreneurial capital and social-network capital. Drawing on business surveys and in-depth interviews with key stakeholders in the case of the three UK Core Cities Birmingham, Bristol and Cardiff. This paper critically considers how entrepreneurial capital and social-network capital is a crucial source of competitiveness and urban economic development. This paper deals with questions concerning the complexity of operationalizing ‘network capital’ in different urban settings and the challenges that reside in characterising its effects. The paper will highlight the role of institutions in facilitating urban economic development. Particular emphasis will be placed on exploring the roles formal and informal institutions have in delivering, supporting and nurturing entrepreneurial capital and social-network capital, to facilitate urban economic development. Discussions will then consider how institutions moderate and contribute to the economic development of urban areas, to provide implications in terms of future policy formulation in the context of large and medium sized cities.

Keywords: urban economic development, network capital, entrepreneurialism, institutions

Procedia PDF Downloads 264

Authors: Natalya G. Filimonova, Mariya G. Ozerova, Irina N. Ermakova

Abstract:

The long-term strategy of the economic development of Russia up to 2030 is based on the concept of sustainable growth. The determining factor of such development is complex changes in the economic system which may be achieved by making progressive changes in its structure. The structural changes determine the character and the direction of economic development, as well as they include all elements of this system without exception, and their regulated character ensures the most rapid aim achievement. This article has discussed the industrial structure of the agriculture in Russia. With the use of the system of indexes, the article has determined the directions, intensity, and speed of structural shifts. The influence of structural changes on agricultural production development has been found out. It is noticed that the changes in the industrial structure are synchronized with the changes in the organisation and economic structure. Efficiency assessment of structural changes allowed to trace the efficiency of structural changes and elaborate the main directions for agricultural policy improvement.

Keywords: Russian agricultural sectors, sectoral structure, organizational and economic structure, structural changes

Procedia PDF Downloads 160

Authors: Zahra Bakhtiari

Abstract:

Middle East countries confront a multitude of main environmental challenges which are inevitable. The unstable economic and political structure which dominates numerous middle East countries makes it difficult to react effectively to unfavorable climate change impacts. This study applies a qualitative methodology and relies on secondary literature aimed to investigate how countries in the Middle East are balancing economic security and climatic security in terms of budgeting, infrastructure investment, political engagement (domestically through discourses or internationally in terms of participation in international organizations or bargaining, etc.) There has been provided an outline of innovative measures in both economic and environmental fields that are in progress in the Middle East countries and what capacity they have for economic development and environmental adaptation, as well as what has already been performed. The primary outcome is that countries that rely more on infrastructure investment such as negative emissions technologies (NET) through green social capital enterprises and political engagement, especially nationally determined contributions (NDCs) commitments and United Nations Framework Convention on Climate Change (UNFCCC), experience more economic and climatological security balance in the Middle East. Since implementing these measures is not the same in all countries in the region, we see different levels of balance between climate security and economic security. The overall suggestion is that the collaboration of both the bottom-up and top-down approaches helps create strategic environmental strategies which are in line with the economic circumstances of each country and creates the desired balance.

Keywords: climate change, economic growth, sustainability, the Middle East, green economy, renewable energy

Procedia PDF Downloads 69

Authors: Laila Algalal, Chen Xi

Abstract:

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.

Procedia PDF Downloads 71

Authors: Catherine Coron

Abstract:

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

Procedia PDF Downloads 303