Search results for: informal financing

Authors: Mouldi Djelassi, Jamel Boukhatem

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Background: A relation has been established between Islamic banks' activities and interest rates. The aim of this study was to explore the impact of interest rates on the deposits and loans held by Islamic and conventional banks in Saudi Arabia. Methods: A time series data was performed over the period 2008Q1-2020Q2 on eight conventional banks and four Islamic banks. The impacts of interest rate shocks on deposits and loans were identified through panel vector autoregressive models. Results: Impulse response function analysis showed that increasing interest rates reduce loans and conventional deposits. For Islamic banks, deposits are more affected by interest rates than lending. Variance decomposition analysis revealed that deposits contribute to 61% of the Islamic financing variation and only 25% of the conventional loans. Conclusion: Interest rates impacted Islamic banks especially through deposits, which is inconsistent with the theoretical framework. Islamic deposits played an important role in Islamic financing variation and may provide to be a channel for the transmission of the monetary policy in a dual banking system. Monetary policy in Saudi Arabia works in part through “credits” (conventional bank credits) as well as through “money” (conventional and Islamic bank deposits).

Keywords: Islamic banking, interest rates, monetary policy transmission, panel VAR

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Authors: Humayun Murshed

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There is growing importance of ‘social enterprise’ among the researchers and policy makers around the globe. Such enterprises have been viewed as alternative means for addressing the concerns relating to financing of corporate enterprises and social empowerment. This, some cases, has led to relatively unrealistic and higher level of expectations among policy makers and the members of the society at large. There is a general perception among different social actors that these enterprises provide universal and magic solution towards employment generation, and thus resulting in eradicating poverty, and ensuring equitable distribution of income and wealth. However, in many cases, these enterprises find a challenging journey in terms of prevailing market structure, socio-political environment, and unrealistic perception and expectations of social participants. This paper is focused on reviewing case studies based on empirical research and information from secondary sources and geared to looking at the challenges that social enterprises face. The research will draw the experience primarily from the developing countries’ perspective by adopting case study methodology. A tentative action plan will be suggested for further review by the policy makers and researchers in this growing arena of discipline. This research will attempt to highlight the myths and realities surrounding the operation of social enterprises.

Keywords: social enterprises, social empowerment, economic development, financing need

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Authors: Muhammad Arzim Naim, Saiful Azhar Rosly, Mohamad Sahari Nordin

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The objective of this study is to investigate the factors affecting the rise of Shariah non-compliance risk that can bring Islamic banks to succumb to monetary loss. Prior literatures have never analyzed such risk in details despite lots of it arguing on the validity of some Shariah compliance products. The Shariah non-compliance risk in this context is looking to the potentially failure of the facility to stand from the court test say that if the banks bring it to the court for compensation from the defaulted clients. The risk may also arise if the customers refuse to make the financing payments on the grounds of the validity of the contracts, for example, when relinquishing critical requirement of Islamic contract such as ownership, the risk that may lead the banks to suffer loss when the customer invalidate the contract through the court. The impact of Shariah non-compliance risk to Islamic banks is similar to that of legal risks faced by the conventional banks. Both resulted into monetary losses to the banks respectively. In conventional banking environment, losses can be in the forms of summons paid to the customers if they won the case. In banking environment, this normally can be in very huge amount. However, it is right to mention that for Islamic banks, the subsequent impact to them can be rigorously big because it will affect their reputation. If the customers do not perceive them to be Shariah compliant, they will take their money and bank it in other places. This paper provides new insights of risks faced by credit intensive Islamic banks by providing a new extension of knowledge with regards to the Shariah non-compliance risk by identifying its individual components that directly affecting the risk together with empirical evidences. Not limited to the Islamic banking fraternities, the regulators and policy makers should be able to use findings in this paper to evaluate the components of the Shariah non-compliance risk and make the necessary actions. The paper is written based on Malaysia’s Islamic banking practices which may not directly related to other jurisdictions. Even though the focuses of this study is directly towards to the Bay Bithaman Ajil or popularly known as BBA (i.e. sale with deferred payments) financing modality, the result from this study may be applicable to other Islamic financing vehicles.

Keywords: Islamic banking, Islamic finance, Shariah Non-compliance risk, Bay Bithaman Ajil (BBA), principal axis factoring

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Authors: Vivian W. L. Tsang, Karen Lockhart, Samuel Spiegel, Annalee Yassi

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Background: Workers in the informal economy often incur exposure to well-documented occupational health hazards. Insufficient attention has been afforded to rigorously evaluating intervention programs to reduce the risks, especially in artisanal and small-scale gold mining (ASGM). Objectives: This systematic review, conducted as part of the World Health Organization’s Global Plan of Action for Workers’ Health, sought to assess the state of knowledge on occupational health programs and interventions for the informal artisanal and small-scale gold mining (ASGM) sector, an occupation which directly employs at least 50 million people. Methods: We used a comprehensive search strategy for four well-known databases relevant to health outcomes: PubMed, Engineering Village, OVID Medline, and Web of Science, and employed the PRISMA framework for our analysis. Findings: Ten studies met the inclusion criteria of a primary study focused on assessing the impact of interventions addressing occupational health concerns in ASGM. There were no studies evaluating or even identifying comprehensive occupational health and safety programs for this sector, although target interventions addressing specific hazards exist. Major areas of intervention –education and introduction of mercury-reducing/eliminating technology were identified, and the challenges and limitations of each intervention taken into the assessment. Even for these, however, there was a lack of standardization for measuring outcome or impact, let alone long-term health outcomes for miners and mining communities. Conclusion: There is an urgent need for research on comprehensive occupational health programs addressing the array of hazards faced by artisanal and small-scale miners.

Keywords: informal economy, artisanal and small-scale gold mining, occupational health, health and safety, workplace safety

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Authors: David Broussard

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This review article delves into the realm of marine conservation finance, addressing the inadequacies in current financial streams from the private sector and the underutilization of existing financing mechanisms. The study emphasizes the emerging field of “blue finance”, which contributes to economic growth, improved livelihoods, and marine ecosystem health. The financial burden of marine conservation projects typically falls on philanthropists and governments, contrary to the polluter-pays principle. However, the private sector’s increasing commitment to NetZero and growing environmental and social responsibility goals prompts the need for alternative funding sources for marine conservation initiatives like marine protected areas. The article explores the potential of utilizing several financing mechanisms like carbon credits and other forms of payment for ecosystem services in the marine context, providing a solution to the lack of private funding for marine conservation. The methodology employed involves a systematic and quantitative approach, combining traditional review methods and elements of meta-analysis. A comprehensive search of the years 2000 - 2023, using relevant keywords on the Scopus platform, resulted in a review of 252 articles. The temporal evolution of blue finance studies reveals a significant increase in annual articles from 2010 to 2022, with notable peaks in 2011 and 2022. Marine Policy, Ecosystem Services, and Frontiers in Marine Science are prominent journals in this field. While the majority of articles focus on payment for ecosystem services, there is a growing awareness of the need for holistic approaches in conservation finance. Utilizing bibliometric techniques, the article showcases the dominant share of payment for ecosystem services in the literature with a focus on blue carbon. The classification of articles based on various criteria, including financing mechanisms and conservation types, aids in categorizing and understanding the diversity of research objectives and perspectives in this complex field of marine conservation finance.

Keywords: biodiversity offsets, carbon credits, ecosystem services, impact investment, payment for ecosystem services

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Authors: Daniel Muwooya

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This paper analyses economic factors that have affected the competitiveness of petroleum refinery and petrochemical projects in sub-Saharan Africa in the past and continue to plague greenfield projects today. Traditional factors like plant sizing and complexity, low-capacity utilization, changing regulatory environment, and tighter product specifications have been important in the past. Additional factors include the development of excess refinery capacity in Asia and the growth of renewable sources of energy – especially for transportation. These factors create both challenges and opportunities for the development of greenfield refineries and petrochemical projects in areas of increased demand growth and new low-cost crude oil production – like sub-Saharan Africa. This paper evaluates the strategies available to project developers and host countries to address contemporary issues of energy transition and the apparent reduction of funds available for greenfield oil and gas projects. The paper also evaluates the structuring of greenfield refinery and petrochemical projects for limited recourse project finance bankability. The methodology of this paper includes analysis of current industry data, conference proceedings, academic papers, and academic books on the subjects of petroleum refinery economics, refinery financing, refinery operations, and project finance generally and specifically in the oil and gas industry; evaluation of expert opinions from journal articles; working papers from international bodies like the World Bank and the International Energy Agency; and experience from playing an active role in the development and financing of US$ 10 Billion greenfield oil development project in Uganda. The paper also applies the discounted cash flow modelling to illustrate the circumstances of an inland greenfield refinery project in Uganda. Greenfield refinery and petrochemical projects are still necessary in sub-Saharan Africa to, among other aspirations, support the transition from traditional sources of energy like biomass to such modern forms as liquefied petroleum gas. Project developers and host governments will be required to structure projects that support global climate change goals without occasioning undue delays to project execution.

Keywords: financing, refinery and petrochemical economics, Africa, project finance

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Authors: Joseph Paul Chunga

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The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies.

Keywords: financial leverage, debt financing, conservative firms, aggressive firms

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Authors: Felix Darko-Amoah, Daniel Acquah

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In contemporary ecosystems for developing countries like Ghana, the need to explore innovative solutions for sustainable livelihoods of farmers is more important than ever. With Ghana’s population growing steadily and the demand for food, fiber and shelter increasing, it is imperative that the construction industry and agriculture come together to address the challenges faced by farmers in the country. In order to enhance the livelihoods of cocoa farmers in Ghana, this paper provides an innovative strategy that aims to integrate the areas of civil engineering and cash crop agriculture. This study focuses on cocoa cultivation in poorer nations, where farmers confront a variety of difficulties include restricted access to financing, subpar infrastructure, and insufficient support services. We seek to improve farmers' access to financing, improve infrastructure, and provide support services that are essential to their success by combining the fields of building engineering and cocoa production. The findings of the study are beneficial to cocoa producers, community extension agents, and construction engineers. In order to accomplish our objectives, we conducted 307 of field investigations in particular cocoa growing communities in the Western Region of Ghana. Several studies have shown that there is a lack of adequate infrastructure and financing, leading to low yields, subpar beans, and low farmer profitability in developing nations like Ghana. Our goal is to give farmers access to better infrastructure, better financing, and support services that are crucial to their success through the fusion of construction engineering and cocoa production. Based on data gathered from the field investigations, the results show that the employment of appropriate technology and methods for developing structures, roads, and other infrastructure in rural regions is one of the essential components of this strategy. For instance, we find that using affordable, environmentally friendly materials like bamboo, rammed earth, and mud bricks can assist to cut expenditures while also protecting the environment. By applying simple relational techniques to the data gathered, the results also show that construction engineers are crucial in planning and building infrastructure that is appropriate for the local environment and circumstances and resilient to natural disasters like floods. Thus, the convergence of construction engineering and cash crop cultivation is another crucial component of the agriculture-construction interplay. For instance, farmers can receive financial assistance to buy essential inputs, such as seeds, fertilizer, and tools, as well as training in proper farming methods. Moreover, extension services can be offered to assist farmers in marketing their crops and enhancing their livelihoods and revenue. In conclusion, our analysis of responses from the 307 participants depicts that the combination of construction engineering and cash crop agriculture offers an innovative approach to improving farmers' livelihoods in cocoa farming communities in Ghana. In conclusion, by inculcating the findings of this study into core decision-making, policymakers can help farmers build sustainable and profitable livelihoods by addressing challenges such as limited access to financing, poor infrastructure, and inadequate support services.

Keywords: cocoa agriculture, construction engineering, farm buildings and equipment, improved livelihoods of farmers

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Authors: Edson Ephraim Sanga

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This paper stems to explore possible places used for recreation in unplanned settlements in order to avail knowledge on how to create and shape urban spaces essential for recreation and leisure. The context of unplanned settlements is spatially characterized compactness and congestions of buildings developed by residents without professional inputs. These characteristics surpass greenery landscapes such as parks and squares essential for health, happiness and wellbeing. The lack of recreational greenery landscape arises a question on how possible can recreation take places in the settlements? This study used qualitative methods mainly observation and in-depth interview to explore the recreational situation in Manzese informal settlements as an instrumental case and found that ordinary spaces are re-configured into recreational spaces and used as ‘parks’ and ‘squares’ in the settlements. The spaces are diverse and complex as they possess different spatial characteristics based on their physical attributes and the way they are used and interpreted by respective users. This paper argues that the re-configuration processes of ordinary spaces should not be taken for granted because they portray the appropriation of spaces from quotidian dimensions in a particular context.

Keywords: ordinary spaces, recreation, unplanned settlement, urban spaces

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Authors: Noor Suhaida Kasri

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In the last three decades, Malaysia has developed fundamental legal and regulatory structures that aim to accommodate and facilitate the growth of Islamic banking and finance industry. Important building blocks have been put in place, to cite a few, the elevation of the position of the Malaysian Central Bank Shariah Advisory Council (SAC) as the apex advisory body and the empowerment of their Shariah resolutions through the Central Bank Act 1958; the promulgation of the Islamic Financial Services Act 2013 that regulate and govern Islamic finance market with a robust statutory requirement of Shariah governance and Shariah compliance. Notwithstanding these achievements, enforceability of Shariah-compliant contract remains a contentious subject. The validity of Al Bai Bithaman Ajil concept that was commonly used by the Islamic financial institutions in their financing facilities structures and documentation has been unabatedly challenged by the customers in courts. The challenge was due to the manner in which the Al Bai Bithaman Ajil transactions were carried out. Due to this legal challenge, Al Bai Bithaman Ajil financing structure seems to no longer be the practitioners’ favourite in Malaysia, though its substitute tawarruq and commodity murabahah financing structure may potentially face similar legal challenges. This paper examines the legal challenges affecting the enforceability of these underlying Shariah contracts. The examination of these cases highlights the manner in which these contracts were being implemented and applied by the Malaysian Islamic financial institutions that triggered Shariah and legal concern. The analysis also highlights the approach adopted by the Malaysian courts in determining the Shariah issues as well as the SAC in ascertaining the rulings on the Shariah issues referred to it by the courts. The paper adopts a qualitative research methodology by using textual and documentary analysis approach. The outcome of this study underlines factors that require consideration by industry stakeholder in order to ameliorate the efficacy of the existing building blocks that would eventually strengthens the validity and enforceability of Shariah-compliant contracts. This, in the long run, will further reinforce financial stability and trust into the Islamic banking and finance industry in Malaysia.

Keywords: enforceability of Shariah compliant contract, legal challenge, legal and regulatory framework, Shariah Advisory Council

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Authors: Mai Yen Nhi Doan, Viet Le, Chamindika Weerakoon

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Social enterprises have emerged as sustainable organisations that deliver social achievement along with long-term financial advancement. However, recorded financial barriers have urged social enterprises to divert to other financing methods due to the misaligned ideology with traditional financing capitalists, in which crowdfunding can be a promising alternative. Previous studies in crowdfunding have inadequately addressed crowdfunding for social enterprises, with conflicting results due to the unsuitable analysis of signals in isolation rather than in combinations, using the data from platforms that do not support social enterprises. Extending the signalling theory, this study suggests that crowdfunding success results from the collaboration between costly and costless signals. The proposed conceptual framework enlightens the interaction between costly signals as “organisational information”, “social entrepreneur’s credibility,” and “third-party endorsement” and costless signals as various sub-signals under the “campaign preparedness” signal to achieve crowdfunding success. Using Qualitative Comparative Analysis, this study examined 45 crowdfunding campaigns run by Australian social enterprises on StartSomeGood and Chuffed. The analysis found that different combinations of costly and costless signals can lead to crowdfunding success, allowing social enterprises to adopt suitable combinations of signals to their context. Costless signal – campaign preparedness is fundamental for success, though different costless sub-signals under campaign preparedness can interact with different costly signals for the desired outcome. Third-party endorsement signal was found to be the necessary signal for crowdfunding success for Australian social enterprises.

Keywords: crowdfunding, qualitative comparative analysis (QCA), signalling theory, social enterprises

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Authors: Helen S. Ghali, Engy Serag, A. Samer Ezeldin

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In many countries, the construction industry relies heavily on outsourcing models in executing their projects and expanding their businesses to fit in the diverse market. Such extensive integration of subcontractors is becoming an influential factor in contractor’s cash flow management. Accordingly, subcontractors’ financial terms are important phenomena and pivotal components for the well-being of the contractor’s cash flow. The aim of this research is to study the contractor’s cash flow with respect to the owner and subcontractor’s payment management plans, considering variable advance payment, payment frequency, and lag and retention policies. The model is developed to provide contractors with a decision support tool that can assist in selecting the optimum subcontracting plan to minimize the contractor’s financing limits and optimize the profit values. The model is built using Microsoft Excel VBA coding, and the genetic algorithm is utilized as the optimization tool. Three objective functions are investigated, which are minimizing the highest negative overdraft value, minimizing the net present worth of overdraft, and maximizing the project net profit. The model is validated on a full-scale project which includes both self-performed and subcontracted work packages. The results show potential outputs in optimizing the contractor’s negative cash flow values and, in the meantime, assisting contractors in selecting suitable subcontractors to achieve the objective function.

Keywords: cash flow optimization, payment plan, procurement management, subcontracting plan

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Authors: Francesco Saverio Angiò

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The Islamic State of Iraq and the Levant / Syria (ISIL/S), Al-Qaeda in the Islamic Maghreb (AQIM) and People Committed to the Propagation of the Prophet's Teachings and Jihad, also known as ‘Boko Haram’ (BH), have fought successfully against Syria and Iraq, Mali, Nigeria’s government, respectively. According to Napoleoni, the ‘shell-state’ concept can explain the economic dimension and the financing model of the ISIL insurgency. However, she argues that AQIM and BH did not properly plan their financial model. Consequently, her idea would not be suitable to these groups. Nevertheless, AQIM and BH’s economic performances and their (short) territorialisation suggest that their financing models respond to a well-defined strategy, which they were able to adapt to new circumstances. Therefore, Napoleoni’s idea of ‘shell-state’ can be applied to the three jihadist armed groups. In the last five years, together with other similar entities, ISIL/S, AQIM and BH have been fighting against governments with insurgent tactics and terrorism acts, conquering and ruling a quasi-state; a physical space they presented as legitimate territorial entity, thanks to a puritan version of the Islamic law. In these territories, they have exploited the traditional local economic networks. In addition, they have contributed to the development of legal and illegal transnational business activities. They have also established a justice system and created an administrative structure to supply services. Napoleoni’s ‘shell-state’ can describe the evolution of ISIL/S, AQIM and BH, which has switched from an insurgency to a proto or a quasi-state entity, enjoying a significant share of power over territories and populations. Napoleoni first developed and applied the ‘Shell-state’ concept to describe the nature of groups such as the Palestine Liberation Organisation (PLO), before using it to explain the expansion of ISIL. However, her original conceptualisation emphasises on the economic dimension of the rise of the insurgency, focusing on the ‘business’ model and the insurgents’ financing management skills, which permits them to turn into an organisation. However, the idea of groups which use, coordinate and grab some territorial economic activities (at the same time, encouraging new criminal ones), can also be applied to administrative, social, infrastructural, legal and military levels of their insurgency, since they contribute to transform the insurgency to the same extent the economic dimension does. In addition, according to Napoleoni’s view, the ‘shell-state’ prism is valid to understand the ISIL/S phenomenon, because the group has carefully planned their financial steps. Napoleoni affirmed that ISIL/S carries out activities in order to promote their conversion from a group relying on external sponsors to an entity that can penetrate and condition local economies. On the contrary, ‘shell-state’ could not be applied to AQIM or BH, which are acting more like smugglers. Nevertheless, despite its failure to control territories, as ISIL has been able to do, AQIM and BH have responded strategically to their economic circumstances and have defined specific dynamics to ensure a flow of stable funds. Therefore, Napoleoni’s theory is applicable.

Keywords: shell-state, jihadist insurgency, proto or quasi-state entity economic planning, strategic financing

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Authors: Musa Alghamdi

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Although Saudi students’ motivation to learn English language as a foreign language in Saudi Arabia have been investigated by a number of studies; these have appeared almost completely as using the quantitative research paradigm. There is a significant lack of research that explores the Saudi students’ motivation using qualitative methods. It was essential, as an investigator, to be immersed in the community to understand the individuals under study via their actions and words, their thoughts, views and beliefs, and how those individuals credited to activities. Thus, the study aims to explore the Saudi students’ motivation to learn English language as a foreign language in Saudi Arabia employing qualitative methodology via applying ethnography. The study will be carried out in Saudi Arabia. Ethnography qualitative approach will be used in the current study by employing formal and informal interview instruments. Gardner’s motivation theory is used as frameworks for this study to aid the understanding of the research findings. The author, an English language lecturer, will undertake participant observations for 4 months. He will work as teaching-assistant (on an unpaid basis) with EFL lecturers in different discipline department at a Saudi university where students study English language as a minor course. The researcher will start with informal ethnographical interview with students during his existence with the informants in their natural context. Then the researcher will utilize the semi-structural interview. The informal interview will be with 14-16 students, then, he will carry out semi-structural interview with the same informants to go deep in their natural context to find out to what extent the Saudi university students are motivated to learn English as a foreign language. As well as, to find out the reasons that played roles in that. The findings of this study will add new knowledge about what factors motivate universities’ Saudi students to learn English language in Saudi Arabia. Very few chances have given to students to express themselves and to speak about their feelings in a more comfortable way in order to gain a clear image of those factors. The working author as an EFL teacher and lecturer will provide him secure access into EFL teaching and learning setting. It will help him attain richer insights into the nature EFL context in universities what will provide him with richer insights into the reasons behind the weakness of EFL level among Saudi students.

Keywords: motivation, ethnography, Saudi, language

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Authors: Edward A. Osifodunrin, Jose Manuel Dias Lopes

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In Nigeria, enormous efforts/resources had, over the years, been expended on promoting financial inclusion (FI); however, it is seemingly discouraging that many of its self-declared targets on FI remained unachieved, especially amongst the Rural Dwellers and Actors in the Informal Sectors (RDAIS). Expectedly, many reasons had been earmarked for these failures: low literacy level, huge informal/rural sectors, etc. This study posits that in spite of these truly-debilitating factors, these FI policy failures could have been avoided or mitigated if the principles of active and better-managed citizens’ participation had been strictly followed in the (re)design/implementation of its FI policies. In other words, in a bid to mitigate the prevalent FE in Nigeria, this study hypothesizes the positive impact of increased/active citizens’ participation on FI outcome(s), backed by a preliminary empirical validation. Also, the study introduces the RDAIS-focused participatory financial inclusion policy (PFIP) as a major FI policy regeneration/improvement tool. The three categories of respondents that served as research subjects are FI experts in Nigeria (n = 72), RDAIS from the very rural/remote village of Unguwar Dogo in Northern Nigeria (n = 43), and RDAIS from another rural village of Sekere (n = 56) in the Southern region of Nigeria. Using survey design (5-point Likert scale questionnaires), random/stratified sampling, and descriptive/inferential statistics, the study often recorded independent consensus (amongst these three categories of respondents) that RDAIS’s active participation in iterative FI policy initiation, (re)design, implementation, (re)evaluation could indeed give improved FI outcomes. However, some questionnaire items also recorded divergent opinions and various statistically significant differences in the mean scores of these three categories. The PFIP (or any customized version of it) should then be carefully integrated into the NFIS of Nigeria (and possibly in the NFIS of other developing countries) to truly/fully provide FI policy integration for these excluded RDAIS and arrest the prevalence of FE.

Keywords: citizens’ participation, development, financial inclusion, formal financial services, national financial inclusion strategy, participatory financial inclusion policy, rural dwellers and actors in the informal sectors

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Authors: Erez Yerushalmi, Sani Ziv

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The rising demand for healthcare services, without a corresponding rise in public supply, led to a debate on whether to increase private healthcare provision - especially in hospital services and second-tier healthcare. Proponents for increasing private healthcare highlight gains in efficiency, while opponents its risk to social welfare. None, however, provide a measure of the social value and its impact on the economy in terms of a monetary value. In this paper, we impute a minimum social value of public healthcare that corresponds to indifference between gains in efficiency, with losses to social welfare. Our approach resembles contingent valuation methods that introduce a hypothetical market for non-commodities, but is different from them because we use numerical simulation techniques to exploit certain market failure conditions. In this paper, we develop a general equilibrium model that distinguishes between public-private healthcare services and public-private financing. Furthermore, the social value is modelled as a by product of healthcare services. The model is then calibrated to our unique health focused Social Accounting Matrix of Israel, and simulates the introduction of a hypothetical health-labour market - given that it is heavily regulated in the baseline (i.e., the true situation in Israel today). For baseline parameters, we estimate the minimum social value at around 18% public healthcare financing. The intuition is that the gain in economic welfare from improved efficiency, is offset by the loss in social welfare due to a reduction in available social value. We furthermore simulate a deregulated healthcare scenario that internalizes the imputed value of social value and searches for the optimal weight of public and private healthcare provision.

Keywords: contingent valuation method (CVM), general equilibrium model, hypothetical market, private-public healthcare, social value of public healthcare

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Authors: Jitka Molnarova

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Based on De Soto’s idea that a formal land title can provide a secure home and access to credit to poor urban families, a large number of developing countries accepted the formalization of informal settlements as the ultimate solution for their housing crises and struggles with poverty. After two decades of implementation, very little is known about the effects this policy has on the quality of the neighborhoods it produces and on the development of cities in general. Using the capital of Peru -where the solution originated- as a case study, this paper illustrates the negative outcomes this policy has on urban development arguing that land titling encourages 1) expansion of the city often to areas of high physical risk, 2) production of precarious housing on unserviced land, and 3) practices of illegal land trafficking. The evidence is based on interviews with community leaders and officials working at the Cooperation for Formalization of Informal Property (COFOPRI), comparison of satellite images documenting the expansion of Lima in the past twenty years, and a technical evaluation of dozens of houses that have been or are in the process of being granted a land title.

Keywords: COFOPRI, De Soto, housing policies, land titling, land trafficking, Lima, Peru, precarious housing, urban expansion

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Authors: Naomi Mutea, Jossete Jones

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The project aimed at exploring the views and perceptions of nurse leaders and educators regarding use of International Classification for Nursing Practice (ICNP) in an informal approach which involved face to face discussions, after which a decision would be made on whether to proceed and propose introduction of ICNP project in Kenya as a pilot project which would mean all nurses would use a standard approach to reporting and documenting nursing care. In addition the project was to determine the best approaches/methods that can be used to introduce ICNP in the Kenyan nursing education and practice environment using the findings of the pilot project. Further four cardex reports were reviewed to establish if nurses on the bedside used a standardized language in documenting and reporting care processes. The cardex reports showed that nurses do not use ICNP or any other standardized language. The results of the discussions revealed that this would be a challenge due to several challenges experienced in conducting nursing research in resource-limited environments. The following questions were asked during the informal discussions with the educators/leaders: •What is currently being taught in terms of standardized nursing language? •Are you familiar with ICNP? •Do you view it advantageous to have a standardized language? •What is the greatest need at the moment in terms of curriculum development for BSN regarding use of standardized nursing language? •If you had a wish to change something in your curriculum, what would that be?

Keywords: nursing, standardized language, ICNP, resource-limited care environments

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Authors: Edward Nartey

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Although sustainability management control (SMC) systems provide information that enhances corporate sustainability decisions, reviews on the SMC implications for sustainable supply chains (SCs) demonstrate a wide research gap, particularly the sustainability performance of healthcare SCs in unusual times. This study provides preliminary empirical evidence on the level of SMC adoption and the decision-making implications for the Tripple Bottom Line (TBL) principles of SC sustainability of Ghanaian public healthcare institutions (PHIs). Using a sample of 226 public health managers, the results show that sustainable formal control has a positive and significant impact on economic sustainability but an insignificant effect on social and environmental sustainability. In addition, a positive relationship was established between informal controls and economic and environmental sustainability but an insignificant relationship with social sustainability. Although the findings highlight the prevalence of the SMC system being prioritized over regular MCS in crisis situations, the MCSs are inadequate in promoting PHIs' sustainable behaviours in SCs. It also provides little empirical evidence on the effective enhancement of the TBL principle of SC sustainability perhaps because the SMC is in misalignment with the TBL principle in crisis situations. Thus, in crisis situations, PHIs need to redesign their MCSs to support the integration of sustainability issues in SCs.

Keywords: sustainability management control, informal control, formal control, sustainable supply chain performance

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Authors: Arpita Banerjee

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We now live in a world where half of the human population is city dwellers. The migration of people from rural to urban areas is rising continuously. But, the promise of a greater wage and better quality of life cannot keep up with the pace of migration. The rate of urbanization is much higher in developing countries. The UN predicts that 95 percent of this urban expansion will take place in the developing world in the next few decades. The population in the urban settlements of the developing nations is soaring, and megacities like Mumbai, Dhaka, Jakarta, Karachi, Manila, Shanghai, Rio de Janeiro, Lima, and Kinshasa are crammed with people, a majority of whom are migrants. Rural-urban migration has taken a new shape with the rising number of smaller cities. Apart from the increase in non-agricultural economic activities, growing demand for resources and energy, an increase in wastes and pollution, and a greater ecological footprint, there is another significant characteristic of the current wave of urbanization. This paper analyses that important marker of urbanization. It is the invisibility of production sites. The growing urban space ensures that the producers, the production sites, or the process stay beyond urban visibility. In cities and towns, living is majorly about earning money in either the informal service and small scale manufacturing sectors (a major part of which is food preparation), or the formal service sector. In the cases of both the informal service and small scale manufacturing or the formal service sector, commodity creation cannot be seen. The urban space happens to be the marketplace, where nature and its services, along with the non-urban labour, cannot be seen unless it is sold in the market. Hence, the consumers are now increasingly becoming disengaged from the producers. This paper compares the rate of increase in the size of and employment in the informal sector and/or that of the formal sector of some selected urban areas of India. Also, a comparison over the years of the aforementioned characteristics is presented in this paper, in order to find out how the anonymity of the producers to the urban consumers have grown as urbanization has risen. This paper also analyses the change in the transport cost of goods into the cities and towns of India and supports that claim made here that the invisibility of production is a crucial marker of modern-day urban-centric economic development. Such urbanization has an important ecological impact. The invisibility of the production site saves the urban consumer society from dealing with the ethical and ecological aspects of the production process. Once the real sector production is driven out of the cities and towns, the invisible ethical and ecological impacts of the growing urban consumption frees the consumers from associating themselves with any responsibility towards those impacts.

Keywords: ecological impact of urbanization, informal sector, invisibility of production, urbanization

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Authors: Wafa Ghonaim

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Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Mohamed Gherbi

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The informal trade has invaded the Algerian cities, especially in their peripherals. About 1368 informal markets have been registrated during 2013 where the important ones are known by Doubaï Markets. They appeared since the adoption of the new system of the economy market in 1990. It permitted the intervention of new actors: the importers but also the fake ones. The majority of them were 'ex-Trabendistes' who have chosen to settle and invest in big and small cities of center and east of Algeria, mainly Algiers, El Eulma, Aïn El Fekroun, Tadjnenent, and Aïn M’lila. This study will focus on the case of the city of El Eulma which contains more of 1000 importers (most of them are fake). They have changed the image and architecture of some important streets of the city, without respecting rules of urbanism such as those included in the building permit for instance. The case of 'Doubaï' place in El Eulma illustrates this situation. This area is not covered by a Soil Occupation Plan (responsible of the design of urban spaces), even if this last covers other zones nearby surrounding of it. These importers helped by the wholesale and retail traders installed in 'Doubaï' place, have converted spaces inside and outside of residential buildings in deposits and sales of goods. They have squatted sidewalks to expose their goods imported predominantly from the South-East Asian countries. The scenery that reigns resembles partly to the bazaar of the Middle East and Chinese cities like Yiwu. These signs characterize the local ambiance and give the particularity to this part of the city. A customer tide from different cities and outside of Algeria comes daily to visit this district. The other zones surrounding have underwent the same change and have followed the model of 'Doubaï' place. Consequently, the mechanical movement has finished by stifling an important part of the city and the prices of land and real estate have reached exorbitant values and can be compared to prices charged in Paris due to the rampant speculation that has reached alarming dimensions. Similarly, renting commercial premises did not escape this logic. This paper will explain the reasons responsible of this change, the logic of importers through their acts in different spaces of the city.

Keywords: Doubaï place, design of urban spaces, fake importers, informal trade

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Authors: Adi Sharabi, Dafna Marom-Golan

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Parents’ involvement in the care of their children with Autism Spectrum Disorder (ASD) and its beneficial effect on the children’s developmental and educational outcomes is well documented. At the same time, parents of children with ASD tend to experience greater psychological distress than parents of children with other developmental disabilities or with typical development. Positive social support is an important resource used by parents to reduce their psychological distress. The goal of the current research was to examine the contribution of formal and informal social support in explaining mothers’ and fathers’ involvement with their young children with ASD. The sample consisted of 107 parents who live in Israel (61 mothers and 46 fathers) of children aged between 2 and 7, all diagnosed with ASD and attending special kindergartens or special day care for children with ASD. Parental involvement and social support perception were assessed. Initial analysis focused on the relations between involvement, support, and demographic variables. In addition, analysis of variance (ANOVA) was conducted to test differences between mothers and fathers. Two hierarchical multiple regression analyses were performed to examine the predicted factors in the involvement model while controlling for group (mothers/fathers). Results indicate that mothers reported significantly higher levels of parenting involvement than fathers. Mothers reported higher levels of general involvement and all sub-types of involvement. For example, mothers reported that they were more interested in and have higher levels of attendance in their child’s educational program. They were also more collaborative in their child’s educational therapeutic program, and socialized with other parents of children from their child’s kindergarten than fathers. Mothers’ involvement was found to be related to their informal support (non-formal relatives). Findings also reveal significant differences between mothers and fathers on the formal support subscale measure of specializes services. Fathers, more than mothers, reported more specializes services support such as social workers or professional therapists. Separate hierarchical multiple regression analyses revealed a unique gender difference in the factors that explained parental involvement. Specifically, informal support only had a unique positive contribution in explaining mothers’, but not fathers’ involvement. This study highlights the central role of mothers in maintaining constant contact with the educational system and the professionals who help care for their child with ASD. At the same time, this research emphasizes the crucial role of both mothers and fathers in their child's development and well-being at every development stage, particularly in early development. Further, different kinds of social support seem to relate to the different kinds of parental involvement. It is in the best interest of educators and family therapists who work with families with children with ASD to support the cohesiveness of the family and the collaboration of the parents by understanding and respecting the way each member addresses the responsibilities of parenting a child with ASD, and her or his need for different types of social support.

Keywords: parental differences, parental involvement, social support, specialized support services

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Authors: Linda Dusman, Linda Baker

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The Bearman Study of Audience Engagement examined the potential for real-time music education during online symphony orchestra concerts. It follows on the promising results of a preliminary study of STEAM (Science, Technology, Engineering, Arts, and Mathematics) education during live concerts, funded by the National Science Foundation with the Baltimore Symphony Orchestra. For the Bearman Study, audience groups were recruited to attend two previously recorded concerts of the National Orchestral Institute (NOI) in 2020 or the Utah Symphony in 2021. They used a smartphone app called EnCue to present real-time program notes about the music being performed. Short notes along with visual information (photos and score fragments) were designed to provide historical, cultural, biographical, and theoretical information at specific moments in the music where that information would be most pertinent, generally spaced 2-3 minutes apart to avoid distraction. The music performed included Dvorak Symphony No. 8 and Mahler Symphony No. 5 at NOI, and Mendelssohn Scottish Symphony and Richard Strauss Metamorphosen with the Utah Symphony, all standard repertoire for symphony orchestras. During each phase of the study (2020 and 2021), participants were randomly assigned to use the app to view program notes during the first concert or to use the app during the second concert. A total of 139 participants (67 in 2020 and 72 in 2021) completed three online questionnaires, one before attending the first concert, one immediately after the concert, and the third immediately after the second concert. Questionnaires assessed demographic background, expertise in music, engagement during the concert, learning of content about the composers and the symphonies, and interest in the future use of the app. In both phases of the study, participants demonstrated that they learned content presented on the app, evidenced by the fact that their multiple-choice test scores were significantly higher when they used the app than when they did not. In addition, most participants indicated that using the app enriched their experience of the concert. Overall, they were very positive about their experience using the app for real-time learning and they expressed interest in using it in the future at both live and streaming concerts. Results confirmed that informal real-time learning during concerts is possible and can generate enhanced engagement and interest in classical music.

Keywords: audience engagement, informal education, music technology, real-time learning

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Authors: Rabia Aslam

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Overwhelming evidence from all around the world suggests that high-quality teacher professional development facilitates the improvement of teaching practices which in turn could improve student learning outcomes. The new Continuous Professional Development (CPD) model for primary school teachers in Punjab uses a blended approach in which pedagogical content knowledge is delivered through technology (high-quality instructional videos and lesson plans delivered to school tablets or mobile phones) with face-to-face support by Assistant Education Officers (AEOs). The model also develops Communities of Practice operationalized through formal meetings led by the AEOs and informal interactions through social media groups to provide opportunities for teachers to engage with each other and share their ideas, reflect on learning, and come up with solutions to issues they experience. Using Kirkpatrick’s 4 levels of the learning evaluation model, this paper investigates how school tablets and teacher mobile phones may act as transformational cultural tools to potentially expand perceptions and access to teaching and learning resources and explore some of the affordances of social media (Facebook, WhatsApp groups) in learning in an informal context. The results will be used to inform policy-level decisions on what shape could CPD of all teachers take in the context of a developing country like Pakistan.

Keywords: CPD, teaching & learning, blended learning, learning technologies

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Authors: Wannakarn Likitrattanaporn

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The purposes of this investigation were to investigate the effects of applying linguistic principles and teaching techniques in teaching English through experimenting the Adapted English Lessons and to determine the teachers’ opinions as well as students’ opinions towards the Adapted Lessons. The subjects of the study were 5 Thai teachers, who teach English, and 85 Grade 10 mixed-ability students at Triamudom Suksa Pattanakarn Ratchada School, Bangkok, Thailand. The research instruments included the Adapted English Lessons, questionnaires asking teachers’ and students’ opinions towards the Adapted Lessons and the informal interview. The data from the research instruments was collected and analyzed concerning the teachers’ and students’ opinions towards adapting linguistic principles and teaching techniques. Linguistic principles of minimal pair and articulatory phonetics and teaching techniques of mimicry-memorization; vocabulary substitution drills, language pattern drills, reading comprehension exercise, practicing listening, speaking and writing skill and communicative activities; informal talk and free writing are applied. The data was statistically compiled according to an arithmetic percentage. The results showed that the teachers and students have very highly positive opinions towards adapting linguistic principles for teaching and learning phonological accuracy. Teaching techniques provided in the Adapted English Lessons can be used efficiently in the classroom. The teachers and students have positive opinions towards them too.

Keywords: applying linguistic principles and teaching techniques, teachers’ and students’ opinions, teaching English, the adapted English lessons

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Authors: Ahmad Sharif Ahmadi, Yoshitaka Kajita

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Kabul, the capital and largest city in Afghanistan has been experiencing a massive population expansion and fast economic development in last decade, in which urban land has increasingly expanded and formed a high informal development territory in the city. This paper investigates the urban land development direction based on the integrated urbanization trends in Kabul city since the last and the fastest ever urban land growth period (1999-2008), which is parallel with the establishment of the new government in Afghanistan. Considering the existing challenges in terms of informal settlements, squatter settlements, the population expansion of the city, and fast economic development, as well as the huge influx of returning refugees from neighboring countries, and the sprawl direction of urbanization of the Kabul city urban fringes, this research focuses on the possible urban land development direction and trends for the city. The paper studies the feasible future land development direction of Kabul city in the northern part called Shamali basin, in which district 17 is the gateway for future development. The area has much developable area including eight districts of Kabul province, and the vast area of Parwan and Kapisa provinces. The northern area of the Kabul city generally has favorable conditions for further urbanization from the city. It is a large and relatively flat area of area in the northern part of Kabul city, with ample water resources available from the Panjshir basin as a base principle of land development direction in the area.

Keywords: Kabul city, land development trends, urban land development, urbanization

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Authors: Katherine Karayianis

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Children with Attention Deficit Hyperactivity Disorder (ADHD) have trouble learning in traditional classrooms. These children miss out on important developmental opportunities in school, which leads to challenges starting in early childhood, and these problems persist throughout their adult lives. Despite receiving supplemental support in school, children with ADHD still perform below their non-ADHD peers. Thus, there is a great need to find better ways of facilitating learning in children with ADHD. Evidence has shown that children with ADHD learn best through interactive engagement, but this is not always possible in schools, given classroom restraints and the large student-to-teacher ratio. Redesigning classrooms may not be feasible, so informal learning opportunities provide a possible alternative. One popular informal learning opportunity is educational TV shows like Sesame Street. These types of educational shows can teach children foundational skills taught in pre-K and early elementary school. One downside to these shows is the lack of interactive dialogue between the TV characters and the child viewers. Pseudo-interaction is often deployed, but the benefits are limited if the characters can neither understand nor contingently respond to the child. AI technology has become extremely advanced and is now popular in many electronic devices that both children and adults have access to. AI has been successfully used to create interactive dialogue in children’s educational TV shows, and results show that this enhances children’s learning and engagement, especially when children perceive the character as a reliable teacher. It is likely that children with ADHD, whose minds may otherwise wander, may especially benefit from this type of interactive technology, possibly to a greater extent depending on their perception of the animated dialogic agent. To investigate this issue, I have begun examining the moderating role of inattention among children’s learning from an educational TV show with different types of dialogic interactions. Preliminary results have shown that when character interactions are neither immediate nor accurate, children who are more easily distracted will have greater difficulty learning from the show, but contingent interactions with a TV character seem to buffer these negative effects of distractibility by keeping the child engaged. To extend this line of work, the moderating role of the child’s perception of the dialogic agent as a reliable teacher will be examined in the association between children’s attention and the type of dialogic interaction in the TV show. As such, the current study will investigate this moderated moderation.

Keywords: attention, dialogic TV, informal learning, educational TV, perception of teacher

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Authors: Saima Shaikh, Andre Brown, Wallace Enegbuma

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Earthquakes strike both developed and developing countries, causing tremendous damage and the loss of lives of millions of people, mainly due to the collapsing of buildings, particularly in poorer countries. Despite the socio-economic and technological restrictions, the poorer countries have adopted proven and established housing-strengthening techniques from affluent countries. Rural communities are aware of the earthquake-strengthening mechanisms for improving housing resilience, but owing to socio-economic and technological constraints, the seismic guidelines are rarely implemented, resulting in informal construction practice. Unregistered skilled laborers make substantial contributions to the informal construction sector, particularly in rural areas where knowledge is scarce. Laborers employ their local expertise in house construction; however, owing to a lack of seismic expertise in safe building procedures, the authorities' regulated seismic norms are not applied. From the perspective of seismic knowledge transformation in safe buildings practices, the study focuses on the feasibility of seismic guidelines implementation. The study firstly employs a literature review of massive-scale reconstruction after the 2005 earthquake in rural Pakistan. The 2005-earthquake damaged over 400,000 homes, killed 70,000 people and displaced 2.8 million people. The research subsequently corroborated the pragmatic approach using questionnaire field survey among the rural people in 2005-earthquake affected areas. Using the literature and the questionnaire survey, the research analyzing people's perspectives on technical acceptability, financial restrictions, and socioeconomic viability and examines the effectiveness of seismic knowledge transfer in safe buildings practices. The findings support the creation of a knowledge transfer framework in disaster mitigation and recovery planning, assisting rural communities and builders in minimising losses and improving response and recovery, as well as improving housing resilience and lowering vulnerabilities. Finally, certain conclusions are obtained in order to continue the resilience research. The research can be further applied in rural areas of developing countries having similar construction practices.

Keywords: earthquakes, knowledge transfer, resilience, informal construction practices

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Authors: Muhammad Ghaffar Doggar, Farah

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The primary objective of this feasibility study is to conduct a techno-financial assessment for installation of biomass based power plant in Faisalabad division. The study involves identification of best site for power plant followed by an assessment of biomass resource potential in the area and propose power plant of suitable size. The study also entailed comprehensive supply chain analysis to determine biomass fuel pricing, transportation and storage. Further technical and financial analyses have been done for selection of appropriate technology for the power plant and its financial viability, respectively. The assessment of biomass resources and the subsequent technical analysis revealed that 20 MW biomass power plant could be implemented at one of the locations near Faisalabad city i.e. AARI Site, Near Chak Jhumra district Faisalabad, Punjab province. Three options for steam pressure; namely, 70 bar, 90 bar and 100 bar boilers have been considered. Using international experience and prices on power plant technology and local prices on locally available equipment, the study concludes biomass fuel price of around 50 US dollars (USD) per ton when delivered to power plant site. The electricity prices used for feasibility calculations were 0.13 USD per KWh for electricity from a locally financed project and 0.11 USD per KWh for internationally financed power plant. For local financing the most viable choice is the 70 bar solution and with international financing, the most feasible solution is using a 90 bar boiler. Between the two options, the internationally financed 90 bar boiler setup gives better financial results than the locally financed 70 bar boiler project. It has been concluded that 20 MW with 90 bar power plant and internationally financed would have an equity IRR of 23% and a payback period of 7 years. This will be a cheap option for installation of power plants.

Keywords: AARI, Ayub agriculture research institute, biomass - crops residue, KWh - electricity Units, MG - Muhammad Ghaffar

Procedia PDF Downloads 318