Search results for: economic resources

Authors: Chow Fah Yee, Eu Chye Tan

Abstract:

The main purpose of developing a modern and sophisticated financial system is to mobilize and allocate the country’s resources for productive uses and in the process contribute to economic growth. Financial liberalization introduced in Malaysia in 1978 was said to be a step towards this goal. According to Mc-Kinnon and Shaw, the deregulation of a country’s financial system will create a more efficient and competitive market driven financial sector; with savings being channelled to the most productive users. This paper aims to assess whether financial liberalization resulted in bank credit being allocated to the more productive users, for the case of Malaysia by: firstly, using Chi-square test to if there exists a relationship between financial liberalization and bank lending in Malaysia. Secondly, to analyze on a comparative basis, the share of loans secured by 9 major economic sectors, using data on bank loans from 1975 to 2003. Lastly, present value analysis and rank correlation was used to determine if the recipients of bigger loans are the more efficient users. Chi-square test confirmed the generally observed trend of an increase in bank credit with the adoption of financial liberalization. While the comparative analysis of loans showed that the bulk of credit were allocated to service sectors, consumer loans and property related sectors, at the expense of industry. Results for rank correlation analysis showed that there is no relationship between the more productive users and amount of loans obtained. This implies that the recipients (sectors) that received more loans were not the more efficient sectors.

Keywords: allocation of resources, bank credit, financial liberalization, economics

Procedia PDF Downloads 446

Authors: Hong Zhang, Runlian Miao, Min Zhang

Abstract:

Coordinated development of Beijing-Tianjin-Hebei region is of great importance and has been emphasized by the government in recent years. Beijing-Tianjin-Hebei region accumulates a large part of S&T resources of the whole country and boasts the most influential achievements. In order to improve innovation capability of the region, universities, research institutions and enterprises from Beijing, Tianjin and Hebei have cooperated in many forms, but technological innovation is not so satisfactory due to unbalanced allocation, poor sharing and low utilization efficiency of S&T resources. Therefore, it’s very necessary to promote resources sharing, optimize their overall layout, and enhance their innovation performance, which can further deepen coordination development of the region. This study focuses on S&T resources with the methods of documents research plus field investigation and qualitative research combing plus quantitive research. It starts from the macro background of promoting coordinated development of Beijing-Tianjin-Hebei region and arrives at improving regional innovation capability. Firstly, the author makes a literature review on coordinated development of Beijing-Tianjin-Hebei region and summarizes that coordinated development has been carried forward in the major fields which lay foundation for regional innovation; secondly, analyzes current S&T resources distribution and coordinated innovation by taking key industries as the examples; based on analysis of the status quo of resources sharing and innovation in the region, the author points out problems and obstacles that holdbacks coordinated innovation of the region and at last raises some suggestions to resources sharing and regional innovation. It reaches the conclusion that an efficient management mechanism, market laws, favorable environment, model innovation and incentive measures can help to accelerate resources sharing and regional innovation in the region.

Keywords: Beijing-Tianjin-Hebei region, coordinated development, innovation, S&T resources

Procedia PDF Downloads 306

Authors: Abigail Mosetsanagape Mooketsi, Itumeleng Pleasure Mongale, Joel Hinaunye Eita

Abstract:

The aim of this study is to analyse the impact of transport infrastructure on economic growth in South Africa through Engle Granger two step approach using the data from 1970 to 2013. GDP is used as a proxy for economic growth whilst rail transport (rail lines, rail goods transported) and air transport(air passengers carried, air freight) are used as proxies for transport infrastructure. The results showed that there is a positive long-run relationship between transport infrastructure and economic growth. The results show that South Africa’s economic growth can be boosted by providing transport infrastructure. The estimated models were simulated and the results that the model is a good fit. The findings of this research will be beneficial to policy makers, academics and it will also enhance the ability of the investors to make informed decisions about investing in South Africa.

Keywords: transport, infrastructure, economic growth, South Africa

Procedia PDF Downloads 482

Authors: Semih Sözer

Abstract:

One of the most common issues in economic systems is understanding characteristics of economic activities in cities and regions. Although there are critics to economic base models in conceptual and empirical aspects, these models are useful tools to examining the economic structure of a nation, regions or cities. This paper uses one of the methodologies of economic base models namely the location quotients model. Data for this model includes employment numbers of provinces and NUTS II regions in Turkey. Time series of data covers the years of 1990, 2000, 2003, and 2009. Aim of this study is finding which sectors are export-base and which sectors are import-base in provinces and regions. Model results show that big provinces or powerful regions (population, size etc.) mostly have basic sectors in their economic system. However, interesting facts came from different sectors in different provinces and regions in the model results.

Keywords: economic base, location quotients model, regional economics, regional development

Procedia PDF Downloads 424

Authors: Ifeanyi Charles Otuokere, Victoria Nneoma Nnochiri

Abstract:

Entrepreneurship generally and specifically within the rural communities in Nigeria is a fast means of bringing development within the communities. This is made possible by utmost maximization and management of available local resources to develop rural areas through good management of these local resources. This study anchors on the rural development paradigm and the integrated rural development theories to understudy the knowledge of rural entrepreneurs on rural economic development. The research study made use of surveys and descriptive analysis. The assessable population for the study, which was randomly selected, is 100 rural entrepreneurs from ten rural communities within the Ikwuano Local Government Area of Abia State. The study made use of both primary and secondary as a source of data collection with much emphasis on a primary source, although secondary data such as journals, textbooks electronic sources were also utilised. A carefully structured questionnaire drafted to extract raw data was administered to selected entrepreneurs. The findings of the study showed that developments within rural communities can only be achieved through rural entrepreneurship. This is evidenced in increased output, job creation, and most importantly, reduction of rural to urban migration, among other things. Recommendations were also made based on these findings; the researchers recommended that infrastructural developments should be made available in the rural communities and government policies should create enabling environments along with other assistance to help these rural entrepreneurs achieve their sole aim.

Keywords: economic developments, rural communities, rural development, rural entrepreneurship

Procedia PDF Downloads 231

Authors: Lutendo Nendauni

Abstract:

Colonialism breaks things, colonisers exploded native cultural solidarity, producing the spiritual confusion, psychic wounding, and economic exploitation of a new and dominated ‘other’. Colonialism as the cultural and economic exploitation began when the West defended in their seizure of foreign territories for the exploitation of its natural resources; this resulted in brutal socio-economic imbalances. The Western profited at the detriment of the weak Africa. However, colonialism has since passed, but the effects are still evident culturally, socially, and economically. This paper explored how postcolonial writers and critics attempt to reverse the socio-economic imbalances resulting from the fragmentation of colonialism, with a focus on the play 'I will Marry When I Want' by Ngugi wa Thiong’o and Ngugi wa Mirii, as a primary text. Using qualitative discourse-textual analysis as the research methodology, the researcher purposively extracts discourse segments from the text for analysis and interpretation. The findings reveal that Postcolonial critics and writers attempt to reverse the socio-economic effects of colonialism through various counter discourses; their literature is concerned with the destruction of colonised identity, the search for this identity, and its assertion. It is manifest in the text that writers offer corrective views about Africans; they stress that they write their literary texts to conscientise their fellow Africans. Postcolonial writers and critics argue that language is a carrier of culture and that the only way to break free from colonial influence is by not adopting a foreign language. They further through their poems, novels, plays, and music strategically shine the spotlight on the previously nameless and destitute people so that they can develop the human spirit’s desire to overcome defeat, socio-political deprivation, and isolation.

Keywords: colonialism, postcoloniality, critics, socio-economic imbalances

Procedia PDF Downloads 157

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

Abstract:

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

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

Procedia PDF Downloads 298

Authors: Bonguen Onouck Rolande Carole, Ndongo Barthelemy

Abstract:

The climate change effects on the Lake Chad, coupled with population growth, have pushed large masses of people of various origins towards the lower part of the lower Logonewatershed in search of the benefits of environmental services, causing pressure on the environment and its resources. Economic services are therefore threatened, and the decrease in resources contributes to the deterioration of the social wellbeing resulting to conflicts among/between local communities, immigrants, displaced people, and foreigners. This paper is an information contribution on ethnical conflicts drivers in the area and the provided local management mechanisms such can help mitigate present or future conflicts in similar areas. It also prints out the necessity to alleviate water access deficit and encourage good practices for the population wellbeing. In order to meet the objective, in 2018, through the interface of the World Bank-Cameroon project-PULCI, data were collected on the field directly by discussing with the population and visiting infrastructures, indirectly by a questionnaire survey. Two administrative divisions were chosen (Logoneet Chari, Mayo-Danay) in which targeted localities were Zina, Mazera, Lahai, Andirni near the Waza Park and Yagoua, Tekele, Pouss, respectively. Due to some sociocultural and religious reasons, some information were acquired through the traditional chiefs. A desk study analysis based on resources access and availability conflicts history, and management mechanism was done. As results, roots drivers of ethnical conflicts are struggles over natural resources access, and the possibility of conflicts increases as the scarcity and vulnerabilities persist, creating more sociocultural gaps and tensions. The mitigation mechanisms though fruitful, are limited. There is poor documentation on the topic, the resources management policies of this basin are unsuitable and ineffective for some. Therefore, the restoration of environmental and ecosystems, the mitigation of climate change effects, and food insecurity are the challenges that must be met to alleviate conflicts in these localities.

Keywords: ethnic, communities, conflicts, mitigation mechanisms, natural resources, logone basin

Procedia PDF Downloads 111

Authors: Odirachukwu S. Mwim, Tana Pistorius

Abstract:

Since the early 1990s political and economic pressures have been mounted on policy and law makers to increase patent protection by raising the protection standards. The perception of the relation between patent protection and development, particularly economic development, has evolved significantly in the past few years. Debate on patent protection in the international arena has been significantly influenced by the perception that there is a strong link between patent protection and economic development. The level of patent protection determines the extent of development that can be achieved. Recently there has been a paradigm shift with a lot of emphasis on extending patent protection to method of doing business generally referred to as Business Method Patenting (BMP). The general perception among international organizations and the private sectors also indicates that there is a strong correlation between BMP protection and economic growth. There are two diametrically opposing views as regards the relation between Intellectual Property (IP) protection and development and innovation. One school of thought promotes the view that IP protection improves economic development through stimulation of innovation and creativity. The other school advances the view that IP protection is unnecessary for stimulation of innovation and creativity and is in fact a hindrance to open access to resources and information required for innovative and creative modalities. Therefore, different theories and policies attach different levels of protection to BMP which have specific implications for economic growth. This study examines the impact of BMP protection on development by focusing on the challenges confronting economic growth in African communities as a result of the new paradigm in patent law. (Africa is used as a single unit in this study but this should not be construed as African homogeneity. Rather, the views advanced in this study are used to address the common challenges facing many communities in Africa). The study reviews (from the point of views of legal philosophers, policy makers and decisions of competent courts) the relevant literature, patent legislation particularly the International Treaty, policies and legal judgments. Findings from this study suggest that over and above the various criticisms levelled against the extreme liberal approach to the recognition of business methods as patentable subject matter, there are other specific implications that are associated with such approach. The most critical implication of extending patent protection to business methods is the locking-up of knowledge which may hamper human development in general and economic development in particular. Locking up knowledge necessary for economic advancement and competitiveness may have a negative effect on economic growth by promoting economic exclusion, particularly in African communities. This study suggests that knowledge of BMP within the African context and the extent of protection linked to it is crucial in achieving a sustainable economic growth in Africa. It also suggests that a balance is struck between the two diametrically opposing views.

Keywords: Africa, business method patenting, economic growth, intellectual property, patent protection

Procedia PDF Downloads 126

Authors: Mandana Karimi, Martha McMahon

Abstract:

One of the most important consequences of water scarcity worldwide is the increase in conflicts over water issues, reduced access to clean water, food shortages, energy shortages, and reduced economic development. The extreme weather conditions in British Columbia are because of climate change, which is leading to water scarcity becoming a serious issue affecting British Columbians, aquatic ecosystems, the BC water policy, agriculture, and the economy. In light of climate change and water stress, the British Columbia government introduced a new water legislation in 2016 named the Water Sustainability Act to manage water resources in British Columbia. So, this study aimed to present a deep understanding emanating from the political and social dimensions of the new water policy in BC in the agriculture sector and which sociological paradigm governs the current water policy (WSA) in BC. Policy analysis based on the water problem representation approach was used to present the problem and solutions identified by the water policy in the agricultural sector in BC. The results of the policy analysis highlighted that the Water Sustainability Act is governed by a positivist and modernist approach because the groundwater license is the measurable situation to access the adequate quantity of water for the farmers. In addition, by the positivist paradigm water resources are conceptualized as a commodity to be bought and sold. Under the positivist approach, the measurable parameter of groundwater is also applied based on the top-down approach for water management to show the use of water resources for economic development. In addition, the findings of the policy analysis suggest that alternative paradigms, such as relational ontology, ecofeminism, and indigenous knowledge, could be applied in introducing water policies to shift from the positivist or modernist paradigm. These new paradigms present the potential for environmental policies like the Water Sustainability Act, based on partnership, and collaboration and with an explicit emphasis on protecting water for nature.

Keywords: water governance, Water Sustainability Act, water policy, small-scale farmer, policy analysis

Procedia PDF Downloads 72

Authors: Noah Yusuf

Abstract:

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

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

Procedia PDF Downloads 347

Authors: Fryanto Anugrah Rhamdhani Rhamdhani, Hana Riana Permatasari

Abstract:

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

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

Procedia PDF Downloads 261

Authors: Tao Ding, Danjia Yan, Jinye Li, Chao Ren, Xinhua Hu

Abstract:

The paper based on the research background of the current situation of water shortage in China and intelligent management of water resources in the information era. And the paper adopts WebGIS technology, combining the mathematical model of water resources management to develop a WebGIS-based water environment capacity inquiry and polluted water emission planning. The research significance of the paper is that it can inquiry the water environment capacity of Jinhua City in real time and plan how to drain polluted water into the river, so as to realize the effective management of water resources. This system makes sewage planning more convenient and faster. For the planning of the discharge enterprise, the decision on the optimal location of the sewage outlet can be achieved through calculation of the Sewage discharge planning model in the river, without the need for site visits. The system can achieve effective management of water resources and has great application value.

Keywords: sewerage planning, water environment capacity, water resources management, WebGIS

Procedia PDF Downloads 183

Authors: Hiroaki Sumi, Kiichiro Hayashi

Abstract:

Now, the use of renewable energy power generation has been advanced. In this paper, we compared the expansion support policy of photovoltaic power generation which was researched using The internet and the amount of resource for photovoltaic power generation which was estimated using the NEDO formula in the municipality level in Hokkaido and Aichi Prefecture, Japan. This paper will contribute to grasp the current situation especially about the policy. As a result, there were municipalities which seemed to be no consideration of the amount of resources. We think it would need to consider the suitability between the policies and resources.

Keywords: photovoltaic power generation, dissemination and support policy, amount of resources, Japan

Procedia PDF Downloads 565

Authors: Lady Salvador Purganan, Jojo M. Villamin, Noel L. Lansang

Abstract:

Tourism is a multifaceted but interdependent industry. This industry is composed of four major players, the public sector, the private sector, the local community, and the tourists. Each player has a vital role in the success of delivering high-quality tourism products and activities. There are various manifestations of positive economic outcomes that benefit the local community. Pro-poor tourism development approach has a great potential to serve as an avenue for capacity building leading to economic independence since natural attractions and cultural resources are assets that can be capitalized on, especially by the poor, because it is more accessible to them compared to financial resources. In the National Tourism Development Plan 2016-2022, specific mechanisms are not reflected to combat and lower poverty incidence through tourism. The researcher used the multidimensional poverty theory and sustainable tourism theory to formulate indicators in the research instrument and social exchange theory. The expected output of the study is to unlock opportunities, specifically in Brgy. Sta. Lucia, Guimba, Nueva Ecija, by crafting policies taking into utmost consideration local community involvement and participation in the process of tourism development which is essential in attaining inclusive growth and sustainability. This study will apply the sequential explanatory design mixed-method approach.

Keywords: pro-poor tourism, poverty alleviation, livelihood opportunities, tourism development plan

Procedia PDF Downloads 100

Authors: Shoji Katagiri, Hugang Han

Abstract:

This paper clarifies the role of ICT capital in Economic Growth. Albeit ICT remarkably contributes to economic growth, there are few studies on ICT capital in ICT sector from theoretical point of view. In this paper, production function of ICT which is used as input of intermediate good in final good and ICT sectors is incorporated into our model. In this setting, we analyze the role of ICT on balance growth path and show the possibility of general equilibrium solutions for this model. Through the simulation of the equilibrium solutions, we find that when ICT impacts on economy and economic growth increases, it is necessary that increases of efficiency at ICT sector and of accumulation of non-ICT and ICT capitals occur simultaneously.

Keywords: endogenous economic growth, ICT, intensity, capital accumulation

Procedia PDF Downloads 455

Authors: Dahiru Muhammad, Muhammad Danladi, Muhammad Yahaya, Adamu Garba

Abstract:

This paper put forward the potentialities of biomass for energy as divers means of sustainable economic development. The paper explains, in brief, the ways or methods that are used to generate energy from biomass, such as combustion, pyrolysis, anaerobic, and gasification, and also how biomass for energy can enhance the sustainable economic development of a Nation. Currently, the nation depends on fossil fuels as a sources of generating its energy which is finite and deflectable with time, while on the other hand, biomass is an alternative and endless product which consists of forest biomass, agricultural residues, and energy crops. Finally, recommendations and conclusion were made on the role of biomass for energy in improving sustainable economic development.

Keywords: biomass, energy, sustainability, economic

Procedia PDF Downloads 134

Authors: Assaad Ghazouani, Ati Abdessatar

Abstract:

In the world, agriculture maintains a social and economic importance in the national economy. Its importance is distinguished by its ripple effects not only downstream but also upstream vis-à-vis the non-agricultural sector. However, the situation is relatively fragile because of weather conditions. In this work, we propose a model to highlight the impacts of climate change (CC) on economic growth in the world where agriculture is considered as a strategic sector. The CC is supposed to directly and indirectly affect economic growth by reducing the performance of the agricultural sector. The model is tested for Tunisia. The results validate the hypothesis that the potential economic damage of the CC is important. Indeed, an increase in CO2 concentration (temperatures and disruption of rainfall patterns) will have an impact on global economic growth particularly by reducing the performance of the agricultural sector. Analysis from a vector error correction model also highlights the magnitude of climate impact on the performance of the agricultural sector and its repercussions on economic growth

Keywords: Climate Change, Agriculture, Economic Growth, World, VECM, Cointegration.

Procedia PDF Downloads 619

Authors: Gururaj Bhajantri

Abstract:

Financial sector is the backbone of any economy and it plays a crucial role in the mobilisation and allocation of resources. One of the main objectives of financial sector is inclusive growth. The constituents of the financial sector are banks, and financial Institutions, which mobilise the resources from the surplus sector and channelize the same to the different needful sectors in the economy. Micro Small and the Medium Enterprises sector in India cover a wide range of economic activities. These enterprises are divided on the basis of investment on equipment. The micro enterprises are divided into manufacturing and services sector. Micro Service enterprises have investment limit up to ten lakhs on equipment. Hairdresser is one who not only cuts and shaves but also provides different types of hair cut, hairstyles, trimming, hair-dye, massage, manicure, pedicure, nail services, colouring, facial, makeup application, waxing, tanning and other beauty treatments etc., hairdressing salons provide these services with the help of equipment. They need investment on equipment not more than ten lakhs. Hence, they can be considered as Micro service enterprises. Hairdressing salons require more than Rs 2.50,000 to start a moderate salon. Moreover, hairdressers are unable to access the organised finance. Still these individuals access finance from money lenders with high rate of interest to lead life. The socio economic conditions of hairdressers are not known properly. Hence, the present study brings a light on the role of financial institutions in promoting hairdressing salons. The study also focuses the socio-economic background of individuals in hairdressings salons, problems faced by them. The present study is based on primary and secondary data. Primary data collected among hairdressing salons in Davangere city. Samples selected with the help of simple random sampling techniques. Collected data analysed and interpreted with the help of simple statistical tools.

Keywords: micro service enterprises, financial institutions, hairdressing salons, financial sector

Procedia PDF Downloads 205

Authors: David Cook, Brynhildur Davidsdottir, Dadi. M. Kristofersson

Abstract:

The approval of development projects with significant environmental impacts implies that the economic costs of the affected environmental resources must be less than the financial benefits, but such irreversible decisions are frequently made without ever attempting to estimate the monetary value of the losses. Due to this knowledge gap in the processes informing decision-making, development projects are commonly approved despite the potential for social welfare to be undermined. Heeding a repeated call by the OECD to commence economic accounting of environmental impacts as part of the cost-benefit analysis process for Icelandic energy projects, this paper sets out the results pertaining to the nation’s first two contingent valuation studies of geothermal areas likely to be developed in the near future. Interval regression using log-transformation was applied to estimate willingness to pay (WTP) for the preservation of the high-temperature Eldvörp and Hverahlíð fields. The estimated mean WTP was 8,333 and 7,122 ISK for Eldvörp and Hverahlíð respectively. Scaled up to the Icelandic population of national taxpayers, this equates to estimated total economic value of 2.10 and 1.77 billion ISK respectively. These results reinforce arguments in favour of accounting for the environmental impacts of Iceland’s future geothermal power projects as a mandatory component of the exploratory and production license application process. Further research is necessary to understand the economic impacts to specific ecosystem services associated with geothermal environments, particularly connected to changes in recreational amenity. In so doing, it would be possible to gain greater comprehension of the various components of total economic value, evolving understanding of why one geothermal area – in this case, Eldvörp – has a higher preservation value than another.

Keywords: decision-making, contingent valuation, geothermal energy, preservation

Procedia PDF Downloads 214

Authors: Rizqi W. Romadhon, Nur Arifan

Abstract:

Halal Tourism is a part of tourism industry which is based on Islamic Principle and addressed to the Muslim tourist. The potency of halal tourism is very broad to be developed, because the growth of Muslim populations is rapidly increasing. Indonesia is one of the biggest countries with Majority of its population is Muslim, therefore human resources and natural resources have very good potential to be part of the Halal tourism industry. But the fact is Indonesia can not optimize the potential of human resources and natural resources as well as neighboring countries carried out. This paper will discuss the reasons of the importance of developing Halal tourism, and the factors influencing the success of developing halal tourism in Indonesia, and also the optimization strategies which can be adopted by the government so that the Halal tourism industry in Indonesia has a sustainable competitive advantage. The existence of this research is expected to government, tourism agents and others can optimize the potency of Indonesia’s Human resources and natural resources for developing Halal tourism industry in Indonesia.

Keywords: halal tourism, Islamic principle, optimization, sustainable competitive advantage

Procedia PDF Downloads 384

Authors: Katarina Lazarević, Mirjana Todosijević, Tijana Vulević, Natalija Momirović, Ranka Erić

Abstract:

Due to increasing demand, climate change, and world population growth, natural resources are getting exploit fast. One of the most important natural resources is soil, which is susceptible to degradation. Erosion as one of the forms of land degradation is also one of the most global environmental problems. Ecosystem services are often defined as benefits that nature provides to humankind. Soil, as the foundation of basic ecosystem functions, provides benefits to people, erosion control, water infiltration, food, fuel, fibers… This research is using the ecosystem approach as a strategy for natural resources management for promoting sustainability and conservation. The research was done on the Topčiderska River basin (Belgrade, Serbia). The InVEST Sediment Delivery Ratio model was used, to quantify erosion intensity with a spatial distribution output map of overland sediment generation and delivery to the stream. InVEST SDR, a spatially explicit model, is using a method based on the concept of hydrological connectivity and (R) USLE model. This, combined with socio-economic and law and policy analysis, gives a full set of information to decision-makers helping them to successfully manage and deliver sustainable ecosystems.

Keywords: ecosystem services, InVEST model, soil erosion, sustainability

Procedia PDF Downloads 141

Authors: Dahiru Muhammad, Muhammad Danladi, Adamu Garba, Muhammad Yahaya

Abstract:

This paper put forward the potentialities of biomass for energy as divers means of sustainable economic development. The paper explains in brief the ways or methods that are used to generate energy from biomass, such as combustion, pyrolysis, anaerobic, and gasification, and also how biomass for energy can enhance the sustainable economic development of a Nation. Currently, the nation depends on fossil fuels as a sources of generating its energy which is finite and deflectable with time, while on the other hand, biomass is an alternative and endless product which consists of a forest biomass, agricultural residues, and energy crops. Finally, recommendations and conclusion were made on the role of biomass for energy in improving sustainable economic development.

Keywords: biomass, energy, sustainable, economic, development

Procedia PDF Downloads 128

Authors: Ismatilla Mardanov

Abstract:

There are three types of countries, the first of which is willing to attract foreign direct investment (FDI) in enormous amounts and do whatever it takes to make this happen. Therefore, FDI pours into such countries. In the second cluster of countries, even if the country is suffering tremendously from the shortage of investments, the governments are hesitant to attract investments because they are at the hands of local oligarchs/cartels. Therefore, FDI inflows are moderate to low in such countries. The third type is countries whose companies prefer investing in the most efficient locations globally and are hesitant to invest in the homeland. Sorting countries into such clusters, the present study examines the essential institutions and economic factors that make these countries different. Past literature has discussed various determinants of FDI in all kinds of countries. However, it did not classify countries based on government motivation, institutional setup, and economic factors. A specific approach to each target country is vital for corporate foreign direct investment risk analysis and decisions. The research questions are 1. What specific institutional and economic factors paint the pictures of the three clusters; 2. What specific institutional and economic factors are determinants of FDI; 3. Which of the determinants are endogenous and exogenous variables? 4. How can institutions and economic and political variables impact corporate investment decisions Hypothesis 1: In the first type, country institutions and economic factors will be favorable for FDI. Hypothesis 2: In the second type, even if country economic factors favor FDI, institutions will not. Hypothesis 3: In the third type, even if country institutions favorFDI, economic factors will not favor domestic investments. Therefore, FDI outflows occur in large amounts. Methods: Data come from open sources of the World Bank, the Fraser Institute, the Heritage Foundation, and other reliable sources. The dependent variable is FDI inflows. The independent variables are institutions (economic and political freedom indices) and economic factors (natural, material, and labor resources, government consumption, infrastructure, minimum wage, education, unemployment, tax rates, consumer price index, inflation, and others), the endogeneity or exogeneity of which are tested in the instrumental variable estimation. Political rights and civil liberties are used as instrumental variables. Results indicate that in the first type, both country institutions and economic factors, specifically labor and logistics/infrastructure/energy intensity, are favorable for potential investors. In the second category of countries, the risk of loss of assets is very high due to governmentshijacked by local oligarchs/cartels/special interest groups. In the third category of countries, the local economic factors are unfavorable for domestic investment even if the institutions are well acceptable. Cluster analysis and instrumental variable estimation were used to reveal cause-effect patterns in each of the clusters.

Keywords: foreign direct investment, economy, institutions, instrumental variable estimation

Procedia PDF Downloads 159

Authors: Manana Lobzhanidze, Marine Kobalava, Lali Chikviladze

Abstract:

The global pandemic crisis has had a significant impact on educational migration, substantially limiting young people’s access to education abroad. Therefore, it became necessary to study the economic, demographic, social, cultural and other factors associated with educational migration, to identify the economic and political challenges of educational migration and to develop recommendations. The aim of the research is to study the effects of the atypical crisis on educational migration and to make recommendations on effective migration opportunities based on the identification of economic and policy challenges in this area. Bibliographic research is used to assess the effects of the impact of the atypical crisis on educational migration presented in the papers of various scholars. Against the background of the restrictions imposed during the COVID19 pandemic, migration rates have been analyzed, endogenous and exogenous factors affecting educational migration have been identified. Quantitative and qualitative research of students and graduates of TSU Economics and Business Faculty is conducted, the results have been processed by SPSS program, the factors hindering educational migration and the challenges have been identified. The Internet and digital technologies have been shown to play a vital role in alleviating the challenges posed by the COVID-19 pandemic, however, lack of Internet access and limited financial resources have played a disruptive role in the educational migration process. The analysis of quantitative research materials revealed the problems of educational migration caused by the atypical crisis, while some issues were clarified during the focus group meetings. The following theoretical-methodological approaches were used during the research: a bibliographic research, analysis, synthesis, comparison, selection-grouping are used; Quantitative and qualitative research has been carried out, the results have been processed by SPSS program. The article presents the consequences of the atypical crisis for educational migration, identifies the main economic and policy challenges in the field of educational migration, and develops appropriate recommendations to overcome them.

Keywords: educational migration, atypical crisis, economic-political challenges, educational migration factors

Procedia PDF Downloads 145

Authors: Pius Akindele Adeniyi

Abstract:

Developing countries including Nigeria are greatly saddled with problems emanating from environmental deterioration. These problems are glaringly threatening the existence of mankind. A wide range of factors contribute to environmental problems and prominent among these are: increase in human population, deforestation, industrialization, urbanization, ignorance and socio-economic activities. The economic function of the forest has for quite a long time played a major role in the economic life of the people of Nigeria while the social function such as the recreational use of the forest has until today play very little role in the cultural development of the country. Recreation forest ameliorates the environment, reduces psychological stress, and broadens individual outlook and horizon. Unfortunately domestic tourism of recreational forest is not developed and almost unknown due to poverty and non existence of recreational facilities. Social forestry is seen as a sustainable means of combating ecological problems especially in third world countries such as Nigeria. The programme also provides social and economic benefits to the rural people. As a rural-based activity, people's participation is crucial for its success. There is need to create awareness on recreational forestry and social forestry as well as harness their resources for the country .This paper therefore highlights the constraints in the practice of social and recreational forestry in developing countries and suggests ways to motivate the rural people to participate in the programme. . Attempt has been made to trace the causes and consequences of Nigerian environmental deterioration, while suggestions on possible solutions are proffered .

Keywords: recreational, social, deteriorating, forestry

Procedia PDF Downloads 76

Authors: Pınar Yardımcı

Abstract:

This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.

Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey

Procedia PDF Downloads 359

Authors: Fatemeh Fahimifar, Rouhollah Nazari, Seyed Mohammad Reza Hosseini

Abstract:

Achieving an adaptable rate of economic growth has always been at the forefront of Iran development programs. In order to increase welfare level of the people in the society, all economic and social indices should be improved which is possible just in case of country's economic development and growth. While developing countries has realized the gap between developed countries and developing countries in today's world, a massive movement has been emerged in less developed countries to eliminate this economic gap. Hence this study investigates the effect of financial development, foreign direct investment and intellectual property on Iran's economic growth and taking into account other variables on economic growth such as impact of the share of foreign direct investment on GDP, government consumptive expenditure share of GDP has been paid. Period used in this study is related to the years 1974 to 2009. Also, in this research we have used Generalized Method of Moments (GMM) to examine relationship between variables. The results of this study indicate a meaningful and negative impact of financial development, the share of government consumptive expenditure to GDP and similarly, the initial GDP on economic growth. Also, the degree of economy openness, foreign direct investment and intellectual property has a meaningful positive impact on economic growth.

Keywords: financial development, FDI, intellectual property, economic growth, Iran

Procedia PDF Downloads 468

Authors: Muhamad Nugraha

Abstract:

Economic growth always correlate positively with the magnitude of the unemployment rate. This is caused by labor which one of important variable to keep growth in the real sector of the region. Meanwhile, the economic structure in districts of Jember showed an increase of economic activity began to shift towards the industrial sector and some other economic sectors, so they have an affects to considerations for policy makers to increase economic growth in Jember as an autonomous region in East Java Province. At the fact, SMEs is among the factors driving economic growth in the region. This is shown by the high amount of SMEs. However, employment in the sector grew slightly slowed. It is caused by a lack of productivity in SMEs. Through the analysis of the transformation of economic structure theory, and the theory of Triple Helix using descriptive analytical method Location Quotient and Shift - Share, found that the results of the economic structure in Jember slowly shifting from the agricultural sector to the industrial sector, because it is dominated by trade sector, hotel and restaurant sector. In addition, SMEs is the potential sector of economic growth in Jember. While to maximizing role and functions of the institution's Research and Development Center of SMEs, there are three points to be known, that are Business Landscape, Business Architecture and Value Added.

Keywords: economic growth, SMEs, labor, Research and Development Center of SMEs

Procedia PDF Downloads 444

Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: banking sector, economic development, financial system’s development, stock market, private bond market

Procedia PDF Downloads 387