Search results for: Georgian economy

Authors: Lina Martinez, Juan David Rivera Acevedo, Isabella Franco

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The informal economy plays a significant role in the job market in Colombia. Cali, the third largest city in the country, is characterized by a high percentage of socially and economically vulnerable population groups who take part in the urban informal economy, with street vending as their primary source of income. This paper studies the socio-economic dimensions of street vendors in Cali. In particular, it examines why they are unable to capitalize on their comparatively high earnings and are not likely to escape poverty even though they usually profit from government welfare and tax evasion due to the non-regulated character of informality. The analysis of an observational study and two surveys with 637 and 300 participants show that street vending is a cash-based day-to-day activity. Since most of the street vendors do not have access to formal banking systems, they depend on payday loans with incomparably high interest rates which absorb a large share of their income and maintain a continuous indebtedness. This is one of the main reasons why they are unable to improve their living conditions. However, the daily cash flow masks the high opportunity cost of loans and long-term deficits.

Keywords: Colombia, informal economy, payday loans, street vendors

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Authors: Disha Batra

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

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

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Authors: Amirhossen Zare Rahvard

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Freemium games based on the gacha mechanic have proven highly successful in recent years - games with simple graphics and simple gameplay systems but with a highly profitable market. Attempts at developing gacha games have even been made in Iran. Since gacha games are both profitable and easy to develop, they seem to be a suitable starting point for establishing a video game market in underdeveloped countries. This article aims to review the gacha games' approach to gaining revenue by studying the case of Arknights game in order to draw an outline of how simple games have led to great markets.

Keywords: gacha games, game’s economy, underdeveloped countries and games, arkngihts

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Authors: Sophia Barquete, Adriana H. Trevisan, Janaina Mascarenhas

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The circular economy (CE) aims at the cycling of resources through restorative and regenerative strategies. To achieve circularity, coordination of several actors who have different responsibilities is necessary. The interaction among multiple actors allows the connection between the CE and business ecosystem research fields. Although fundamental, the relationships between actors within an ecosystem to foster circularity are not deeply explored in the literature. The objective of this study was to identify the possibilities of cooperation, competition, or even coopetition among the members of business ecosystems that adopt circular strategies. In particular, the motivations that make these actors interact to achieve a circular economy were investigated. A systematic literature review was adopted to select business ecosystem cases that adopt circular strategies. As a result, several motivations were identified for actors to engage in relationships within ecosystems, such as sharing knowledge and infrastructure, developing products with a circular design, promoting reverse logistics, among others. The results suggest that partnerships between actors are, in fact, important for the implementation of circular strategies. In order to achieve a complete and circular solution, actors must be able to clearly understand their roles and relationships within the network so that they can establish new partnerships or reframe those already established.

Keywords: business ecosystem, circular economy, cooperation, coopetition, competition

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Authors: Pınar Yardımcı

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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

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Authors: Abdullah Al-Alaian, Ahmad Al-Enzi, Hasan Al-Herz, Ahmad Bakri, Shant Tatorian, Amr Nounou

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Kuwait is a country that has an imbalanced economy since most of its national outcome comes from the oil trade. It is so risky for a country to be dependent on a single source for income, and this increases the need to diversify its economy. In addition, according to the Public Authority for Industry, the contribution of the industrial sector to the current Gross Domestic Product (GDP) of Kuwait is low which is about 4.33%. Therefore, the development of the industrial sector can be one of the means to diversify the economy and increase the industry's contribution to the national outcome. This is in accordance with Kuwait’s vision of 2035 which aims at increasing the contribution of the industrial sector to the GDP to 12%. In order to do so, this study aims at proposing a strategic plan that will accomplish certain objectives when implemented. It is based on analyzing the industrial sectors in Kuwait taking into consideration studying the strengths, weaknesses, opportunities, and threats facing them. At the same time, it tends to gain from the experience of leading models and neighboring countries regarding the development of the industrial sector. In this study, the SWOT analysis technique will be conducted on all industrial sectors based on evaluation criteria in which it is determined whether any of them has a potential for improvement or not. In other words, it is determined whether the sectors are able to compete locally, regionally, or globally. Based on the results of the SWOT analysis, certain sectors will be chosen, assessed based on an assessment scheme, and their potentials for improvement will be aligned with the overall objectives. To ensure the achievement of the study’s objectives, an action plan will be proposed regarding recommendations for the related authorities, and for entrepreneurs. In addition, monitoring tools are going to be provided for the purpose of periodically checking the progress made in the implementation of the plan.

Keywords: industrial sector, SWOT analysis, productivity, competitiveness, GDP, Kuwait, economy

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Authors: Mujahid Sultan

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The IT industry has seen many transformations in the Software Development Life Cycle (SDLC) methodologies and development approaches. SDLCs range from waterfall to agile, and the development approaches from monolith to microservices. Management, orchestration, and monetization of microservices have created an API economy in the modern enterprise. There are two approaches to API design, code first and design first. Design first is gaining popularity in the industry as this allows capturing the API needs from the stakeholders rather than the development teams guesstimating the needs and associating a monetary value with the APIs and microservices. In this publication, we describe an approach to organizing and creating stakeholder needs and requirements for designing microservices and APIs.

Keywords: requirements engineering, enterprise architecture, APIs, microservices, DevOps, continuous delivery, continuous integration, stakeholder viewpoints

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Authors: E. O. George, P. Ojeaga, D. Odejimi, O. Mattehws

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Has macroeconomic management succeeded in making privatization promote growth in Africa? What are the probable strategies that should accompany the privatization reform process to promote growth in Africa? To what extent has the privatization process succeeded in attracting foreign direct investment to Africa? The study investigates the relationship between macroeconomic management and privatization. Many African countries have embarked on one form of privatization reform or the other since 1980 as one of the stringent conditions for accessing capital from the IMF and the World Bank. Secondly globalization and the gradually integration of the African economy into the global economy also means that Africa has to strategically develop its domestic market to cushion itself from fluctuations and probable contagion associated with global economic crisis that are always inevitable Stiglitz. The methods of estimation used are the OLS, linear mixed effects (LME), 2SLS and the GMM method of estimation. It was found that macroeconomic management has the capacity to affect the success of the privatization reform process. It was also found that privatization was not promoting growth in Africa; privatization could promote growth if long run growth strategies are implemented together with the privatization reform process. Privatization was also found not to have the capacity to attract foreign investment to many African countries.

Keywords: Africa, political economy, game theory, macroeconomic management and privatization

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Authors: Nizika Sorokhaibam

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With the collapse of the Soviet Union in 1989, that marked the end of the prolonged struggle of ideologies between capitalism of the United States of America and communism of the Soviet Union, the world entered a new era of free markets, trade and economic liberalization. Through analysis of various literatures on North Korea, this study focuses on the impact of Globalization on North Korea- its people, economy and the regime. The study also takes a glance at the Juche ideology, which was crafted by the Supreme Leader Kim Il Sung, for the people of DPRK and its role and influence in shaping the North Korean economy. The new buzz word being Globalization, as businesses started to expand on international scale, demanding the need for co-operation, connectivity and interdependence of countries around the world. States tilted their focus towards industrialization, production of raw materials, production of goods to meet the growing demands and grabbing markets for the manufactured products. This became the norm as many newly independent countries adopted democracy and aligned their views with globalization processes. Socialist and communist regimes either fell one after the other to join the globalization trend or reformed their economic system to meet the globalization trends. However, even after staying isolated for more than six decades, Democratic People’s Republic of Korea, the Hermit Kingdom, refuses to open up its economy to the globalised world. North Korean regime still controls all the sectors of the country and no trade and investment freedom is given to the people. North Korea vigorously makes efforts to emphasize on its Juche ideology of self-sustenance and self-reliance to keep away from actively engaging in global trade and process of globalization, which they refer to as “Americanization” of the world. Nevertheless, the reality is that North Korea’s economy is not self sustained and is collapsing from within, which led them to solicit foreign aid from the United States of America, South Korea (Republic of Korea) and People’s Republic of China. The regime needs to implement reforms and make adjustments for the economy to survive in the competing world.

Keywords: economic globalization, economic isolation, Juche, North Korea

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Authors: Robertoes K. K. Wibowo, Siswoyo Soekarno, Irma Puspitasari

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Indonesian people use trains for their transportation, especially they use economy class train transportation because it is cheaper and has a more precise schedule than any other ground transportation. Nevertheless, the economy class passenger seat raises some inconvenience issues for passengers. This is due to the design of the chair on the economic class of trains that did not adjusted to the shape of anthropometry of Indonesian people. Thus, research needs to be conducted on the design of the seats in the economic class of trains. The purpose of this research is to make the design of economy class passenger seats ergonomic. This research method uses questionnaires and anthropometry measurements. The data obtained is processed using House of Quality of Ergonomic Function Development. From the results of analysis and data processing were obtained important changes from the original design. Ergonomic chair design according to the analysis is a stainless steel frame, seat height 390 mm, with a seat width for each passenger of 400 mm and a depth of 400 mm. Design of the backrest has a height of 840 mm, width of 430 mm and length of 300 mm that can move at the angle of 105-115 degrees. The width of the footrest is 42 mm and 400 mm length. The thickness of the seat cushion is 100 mm.

Keywords: chair, ergonomics, function development, train passenger

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Authors: Shorena Tsiklauri

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Out-migration is an important issue for Georgia as well as since independence has loosed due to emigration one fifth of its population. During Soviet time out-migration from USSR was almost impossible and one of the most important instruments in regulating population movement within the Soviet Union was the system of compulsory residential registrations, so-called “propiska”. Since independent here was not any regulation for migration from Georgia. The majorities of Georgian migrants go abroad by tourist visa and then overstay, becoming the irregular labor migrants. The official statistics on migration published for this period was based on the administrative system of population registration, were insignificant in terms of numbers and did not represent the real scope of these migration movements. This paper discusses the data quality and methodology of migration statistics in Georgia and we are going to answer the questions: what is the real reason of increasing immigration flows according to the official numbers since 2000s?

Keywords: data quality, Georgia, methodology, migration

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Authors: Mairaj Salim, Asma Zaheer

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Oman has accomplished as much or more than its fellow Gulf monarchies, despite starting from scratch considerably later, having less oil income to utilize, dealing with a larger and more rugged geography, and resolving a bitter civil war along the way. Of course, Oman's progress in the past 30-plus years has not been without problems and missteps, but the balance is squarely on the positive side of the ledger. Oil has been the driving force of the Omani economy since Oman began commercial production in 1967. The oil industry supports the country’s high standard of living and is primarily responsible for its modern and expansive infrastructure, including electrical utilities, telephone services, roads, public education and medical services. In addition to extensive oil reserves, Oman also has substantial natural gas reserves, which are expected to play a leading role in the Omani economy in the Twenty-first Century. To reduce the country’s dependence on oil revenues, the government is restructuring the economy by directing investment to non-oil activities. Since the 21st century IT has changed the performing tasks. To manage the affairs for the benefits of organizations and economy, the Omani government has adopted E-Business technologies for the development. E-Business is important because it allows • Transformation of old economy relationships (vertical/linear relationships) to new economy relationships characterized by end-to-end relationship management solutions (integrated or extended relationships) • Facilitation and organization of networks, small firms depend on ‘partner’ firms for supplies and product distribution to meet customer demands • SMEs to outsource back-end process or cost centers enabling the SME to focus on their core competence • ICT to connect, manage and integrate processes internally and externally • SMEs to join networks and enter new markets, through shortened supply chains to increase market share, customers and suppliers • SMEs to take up the benefits of e-business to reduce costs, increase customer satisfaction, improve client referral and attract quality partners • New business models of collaboration for SMEs to increase their skill base • SMEs to enter virtual trading arena and increase their market reach A national strategy for the advancement of information and communication technology (ICT) has been worked out, mainly to introduce e-government, e-commerce, and a digital society. An information technology complex KOM (Knowledge Oasis Muscat) had been established, consisting of section for information technology, incubator services, a shopping center of technology software and hardware, ICT colleges, E-Government services and other relevant services. So, all these efforts play a vital role in the development of Oman economy.

Keywords: ICT, ITA, CRM, SCM, ERP, KOM, SMEs, e-commerce and e-business

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Authors: Dr.Prabhat Dixit Dr.Sanjay Pandey

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Russian invasion of Ukraine has hogged the limelight in both national and international media. It is expected that the news about the war, which had affected the entire world, especially its economy, will continue to dominate the coverage on TV and newspapers in the next few days, at least until the hostilities come to an end. Although the war still continues, and it is hard to predict its ending, its coverage by the Indian media has raised eyebrows, and it has been observed that the coverage lacks depth, authenticity and a majority of information was sought to be presented in a sensational manner only to attract more number of viewers. It is said that Truth is the first casualty of war. The media should, especially while airing or publishing news about the wars, exercise caution so as not to inflame the already volatile situation in the warring countries. It was also observed that there were differences in the facts and figures presented by different media outlets in the country about the war.

Keywords: economy, media, russia, ukraine, war

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Authors: Maria de Nazaré Moraes Soares, Silvia Maria Dias Pedro Rebouças, José Carlos Lázaro

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The Solidarity Economy (SE) acts in the re-articulation of the economic field to the other spheres of social action. The significant participation of women in SE resulted in the formation of a national network of self-managed enterprises in Brazil: The Solidarity and Feminist Economy Network (SFEN). The objective of the research is to identify factors of gender justice and feminist self-management practices that adhere to the reality of women in SE enterprises. The conceptual apparatus related to feminist studies in this research covers Nancy Fraser approaches on gender justice, and Patricia Yancey Martin approaches on feminist management practices, and authors of postcolonial feminism such as Mohanty and Maria Lugones, who lead the discussion to peripheral contexts, a necessary perspective when observing the women’s movement in SE. The research has a quantitative nature in the phases of data collection and analysis. The data collection was performed through two data sources: the database mapped in Brazil in 2010-2013 by the National Information System in Solidary Economy and 150 questionnaires with women from 16 enterprises in SFEN, in a state of Brazilian northeast. The data were analyzed using the multivariate statistical technique of Factor Analysis. The results show that the factors that define gender justice and feminist self-management practices in SE are interrelated in several levels, proving statistically the intersectional condition of the issue of women. The evidence from the quantitative analysis allowed us to understand the dimensions of gender justice and feminist management practices intersectionality; in this sense, the non-distribution of domestic work interferes in non-representation of women in public spaces, especially in peripheral contexts. The study contributes with important reflections to the studies of this area and can be complemented in the future with a qualitative research that approaches the perspective of women in the context of the SE self-management paradigm.

Keywords: feminist management practices, gender justice, self-management, solidarity economy

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Authors: Babak Mohajeri

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In recent years, the conventional business model of ownership has been changed towards accessibility in a variety of markets. Two trends can be observed in the evolution of this rental-like business model. Firstly, the technological development that enables the emergence of new business models. These new business models increasingly become agile and flexible. For example Spotify, an online music stream company provides consumers access to over millions of music tracks, conveniently through the smartphone, tablet or computer. Similarly, Car2Go, the car sharing company accesses its members with flexible and nearby sharing cars. The second trend is the increasing communication and connections via social networks. This trend enables a shift to peer-to-peer accessibility based business models. Conventionally, companies provide access for their customers to own companies products or services. In peer-to-peer model, nonetheless, companies facilitate access and connection across their customers to use other customers owned property or skills, competencies or services .The is so-called the sharing economy business model. The aim of this study is to investigate into a new and emerging type of the sharing economy model in which role of customers and service providers may dramatically change. This new model is called Collaborative Service Networks. We propose a mechanism for Collaborative Service Networks business model. Uber and Airbnb, two successful growing companies, have been selected for our case studies and their business models are analyzed. Finally, we study the emergence of the collaborative service networks in the manufacturing domain. Our finding results to a new manufacturing paradigm called social manufacturing.

Keywords: sharing economy, collaborative service networks, social manufacturing, manufacturing development

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Authors: Shafaq Rana, Hina Ansar

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Projectification is an emerging phenomenon in Western economies. The projects have become the key driver of the economic actions. The impact of projectification is understudy for over a decade. A methodology was developed to measure the degree of projectification at economical level, which was later adapted to measure the degree of projectification in Germany, Norway, and Iceland; and compared the differences in these project societies, considering their industrial structure, organizational size, and the share of project work. Using the same methodology, this study aims to provide empirical evidence of the project work in the context of Pakistan –a developing nation, keeping into consideration the macroeconomic measures, qualitative and quantitative measures of the project i/c GDP, monetary measures, and project success. The research includes a qualitative pre-study to define these macro-measures in the country-specific context and a quantitative study to measure the project work w.r.t hours working in the organizations on projects. The outcome of this study provides the key data on the projectification in a developing economy, which will help industry practitioners and decision-makers to examine the consequences of projectification and strategize, respectively. This study also provides a foundation for further research in individual sectors of the country while exploring different macroeconomic questions, including the effect of projectification on project productivity, income effects, and labor market.

Keywords: developing economy, Pakistan, project work, projectification

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Authors: Sang Ho Lee, Tae Heon Moon, Youn Taik Leem, Kwang Woo Nam

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Knowledge and IT inputs to other industrial production have become more important as a key factor for the competitiveness of national and regional economies, such as knowledge economies in smart cities. Knowledge and IT industries lead the industrial innovation and technical (r)evolution through low cost, high efficiency in production, and by creating a new value chain and new production path chains, which is referred as knowledge and IT dynamics. This study aims to investigate the knowledge and IT dynamics in Korea, which are analyzed through the input-output model and structural path analysis. Twenty-eight industries were reclassified into seven categories; Agriculture and Mining, IT manufacture, Non-IT manufacture, Construction, IT-service, Knowledge service, Non-knowledge service to take close look at the knowledge and IT dynamics. Knowledge and IT dynamics were analyzed through the change of input output coefficient and multiplier indices in terms of technical innovation, as well as the changes of the structural paths of the knowledge and IT to other industries in terms of new production value creation from 1985 and 2010. The structural paths of knowledge and IT explain not only that IT foster the generation, circulation and use of knowledge through IT industries and IT-based service, but also that knowledge encourages IT use through creating, sharing and managing knowledge. As a result, this paper found the empirical investigation on the knowledge and IT dynamics of the Korean economy. Knowledge and IT has played an important role regarding the inter-industrial transactional input for production, as well as new industrial creation. The birth of the input-output production path has mostly originated from the knowledge and IT industries, while the death of the input-output production path took place in the traditional industries from 1985 and 2010. The Korean economy has been in transition to a knowledge economy in the Smart City.

Keywords: knowledge and IT industries, input-output model, structural path analysis, dynamics of knowledge and it, knowledge economy, knowledge city and smart city

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Authors: WenYing Claire Shih, Konstantinos Agrafiotis

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The circular economy has become one of the seven fundamental pillars of Taiwan’s economic development, as this is promulgated by the government. The model of the circular economy, with its fundamental premise of waste elimination, can transform the textile and clothing sectors from major pollutant industries to a much cleaner alternative for a better quality of all citizens’ lives. In a related vein, the notion of the creative economy and more specifically the fashion industry can prompt similar results in terms of jobs and wealth creation. The combining forces of the circular and creative economies and their beneficial output have resulted in the configuration of ethical urban networks which potentially may lead to sources of competitive advantage. All actors involved in the configuration of this urban ethical fashion network from public authorities to private enterprise can bring about positive changes in the urban setting. Preliminary results through action research show that this configuration is an attainable task in terms of circularity by reducing fabric waste produced from local textile mills and through innovative methods of design, production and retail around urban spaces where the network has managed to generate a stream of jobs and financial revenues for all participants. The municipal authorities as the facilitating platform have been of paramount importance in this public-private partnership. In the explorative pilot study conducted about a network of production, consumption in terms of circularity of fashion products, we have experienced a positive disposition. As the network will be fully functional by attracting more participant firms from the textile and clothing sectors, it can be beneficial to Taiwan’s soft power in the region and simultaneously elevate citizens’ awareness on circular methods of fashion production, consumption and disposal which can also lead to the betterment of urban lifestyle and may open export horizons for the firms.

Keywords: the circular economy, the creative economy, ethical urban networks, action research

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Authors: Anthony Halog

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In the coming decades the world that we know today will be drastically transformed. Population and economic growth, particularly in developing countries, are radically changing the demand for food and natural resources. Due to the transformations caused by these megatrends, especially economic growth which is rapidly expanding the middle class and changing consumption patterns worldwide, it is expected that this will result to an increase of approximately 40 percent in the demand for food, water, energy and other resources in the next decades. To fulfill this demand in a sustainable and efficient manner while avoiding food and water scarcity as well as environmental catastrophes in the near future, some industries, particularly the ones involved in food and energy production, have to drastically change its current production systems towards circular and green economy. In Australia, the agri-food industry has played a very important role in the scenario described above. It is one of the major food exporters in the world, supplying fast growing international markets in Asia and the Middle East. Though the Australian food supply chains are economically and technologically developed, it has been facing enduring challenges about its international competitiveness and environmental burdens caused by its production processes. An integrated framework for sustainability assessment is needed to precisely identify inefficiencies and environmental impacts created during food production processes. This research proposes a combination of industrial ecology and systems science based methods and tools intending to develop a novel and useful methodological framework for life cycle sustainability analysis of the agri-food industry. The presentation highlights circular economy paradigm aiming to implement sustainable industrial processes to transform the current industrial model of agri-food supply chains. The results are expected to support government policy makers, business decision makers and other stakeholders involved in agri-food-energy production system in pursuit of green and circular economy. The framework will assist future life cycle and integrated sustainability analysis and eco-redesign of food and other industrial systems.

Keywords: circular economy, eco-efficiency, agri-food systems, green economy, life cycle sustainability assessment

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Authors: Shanti Swaroop Gupta, Bibekananda Mohapatra, S. K. Chaturvedi, Anand Bohra

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For sustainable development in India, there is an urgent need to follow the principles of industrial symbiosis in the industrial processes, under which the scraps, wastes, or by‐products of one industry can become the raw materials for another. This will not only help in reducing the dependence on natural resources but also help in gaining economic advantage to the industry. Gypsum is one such area in India, where the linear economy model of by-product gypsum utilization has resulted in unutilized legacy phosphogypsum stock of 64.65 million tonnes (mt) at phosphoric acid plants in 2020-21. In the future, this unutilized gypsum stock will increase further due to the expected generation of Flue Gas Desulphurization (FGD) gypsum in huge quantities from thermal power plants. Therefore, it is essential to transit from the linear to circular economy in Gypsum in India, which will result in huge environmental as well as ecological benefits. Gypsum is required in many sectors like Construction (Cement industry, gypsum boards, glass fiber reinforced gypsum panels, gypsum plaster, fly ash lime bricks, floor screeds, road construction), agriculture, in the manufacture of Plaster of Paris, pottery, ceramic industry, water treatment processes, manufacture of ammonium sulphate, paints, textiles, etc. The challenges faced in areas of quality, policy, logistics, lack of infrastructure, promotion, etc., for complete utilization of by-product gypsum have been discussed. The untapped potential of by-product gypsum utilization in various sectors like the use of gypsum in agriculture for sodic soil reclamation, utilization of legacy stock in cement industry on mission mode, improvement in quality of by-product gypsum by standardization and usage in building materials industry has been identified. Based on the measures required to tackle the various challenges and utilization of the untapped potential of gypsum, a comprehensive action plan for the transition from linear to the circular economy in gypsum in India has been formulated. The strategies and policy measures required to implement the action plan to achieve a circular economy in Gypsum have been recommended for various government departments. It is estimated that the focused implementation of the proposed action plan would result in a significant decrease in unutilized gypsum legacy stock in the next five years and it would cease to exist by 2027-28 if the proposed action plan is effectively implemented.

Keywords: circular economy, FGD gypsum, India, phosphogypsum

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Authors: Abdelhalem Shahen

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The world is now experiencing a digital revolution and greatly accelerated technological developments, in addition to the transition from the economy in its traditional form to the digital economy, which has resulted in the emergence of new tools that are appropriate to those developments, and from this, this paper attempts to explore the economic characteristics of the bitcoin currency that circulated recently. Due to the many advantages that distinguish it from money in its traditional forms, which have a range of economic effects. The study found that Bitcoin is among the technological innovations, which contain a set of characteristics that are worth studying, those that make it the focus of attention, such as the digital currency, the peer-to-peer property, Lower and Faster Transaction Costs, transparency, decentralized control, privacy, and Double-Spending, as well as security and Cryptographic, and finally mining.

Keywords: Digital Economics, Digital Currencies, Bitcoin, Features of Bitcoin

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Authors: Charleen von Kolpinski, Karina Cagarman, Alina Blaute

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The circular economy concept is often framed by politicians, scientists and practitioners as being the solution to sustainability problems of our times. However, the focus of these discussions and publications is very often set on environmental and economic aspects. In contrast, the social dimension of sustainability has been neglected and only a few recent and mostly conceptual studies targeted the inclusion of social aspects and the SDGs into circular economy research. All stakeholders of this new circular system have to be included to represent a truly sustainable solution to all the environmental, economic and social challenges caused by the linear economic system. Hence, this empirical research aims to analyse, next to the environmental and economic dimension, also explicitly the social dimension of a sustainable circular business model. This inductive and explorative approach applies the single case study method. A multi-stakeholder view is adopted to shed light on social aspects of the circular business model. Different stakeholder views, tensions between stakeholders and conflicts of interest are detected. In semi-structured interviews with different stakeholders of the company, this study compares the different stakeholder views to profile the success factors of its business model in terms of sustainability implementation and to detect its shortcomings. These findings result in the development of propositions which cover different social aspects of sustainable circular business model implementation. This study is an answer to calls for future empirical research about the social dimension of the circular economy and contributes to sustainable business model thinking in entrepreneurial contexts of the circular economy. It helps identifying all relevant stakeholders and their needs to successfully and inclusively implement a sustainable circular business model. The method of a single case study has some limitations by nature as it only covers one enterprise with its special business model. Therefore, more empirical studies are needed to research sustainable circular business models from multiple stakeholder perspectives, in different countries and industries. Future research can build upon the developed propositions of this study and develop hypotheses to be tested.

Keywords: circular economy, single case study, social dimension, sustainable circular business model

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Authors: Rafael Vicente Salar

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Cities are steadily transforming their productive systems based on value-adding strategies, with the aim of becoming more competitive in a globalized economy. This fact is reflected in inner urban spaces which are increasingly accommodating new economic activities related to knowledge, culture, creativity, and tourism, to the detriment of traditional activities. This is the case of the Trafalgar Garment District (TGD), located in Barcelona´s Eixample Dret neighborhood, an economic urban space historically devoted to the garment wholesale trade. This district is currently experiencing the transformation of its traditional economic specialization. In the last 50 years, external and internal factors have caused, firstly, the disintegration of the Catalonian garment regional cluster. This has resulted in the closure of the majority of metropolitan garment workshops. Secondly, this has also caused either the disappearance of wholesale firms or their relocation to more suitable spaces in the metropolitan area. Specifically, the TGD's economic restructuration is related to the attraction of firms related to the lodging industry and the new economy. In addition, some of the wholesale businesses are adopting new management strategies in order to remain in the TGD. These initiatives are thought to allow them, on one hand, to upgrade their products and, on the other, to reconfigure their internal organization in order to be more competitive.

Keywords: Barcelona, garment district, new economy, tourism, garmen wholesale trade

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Authors: Lisa J. Piergallini

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This project uses panel regression analyses to investigate the relationships between geography, institutions, and economic development, as guided by the theories of the 18^th century French philosopher Montesquieu. Contemporary scholars of political economy perpetually misinterpret Montesquieu’s theories on climate, and in doing so they miss what could be the key to resolving the geography vs. institutions debate. There is a conspicuous gap in this literature, in that it does not consider whether geography and institutors might have an interactive, dynamic effect on economic development. This project seeks to bridge that gap. Data are used for all available countries over the years 1980-2013. Two interaction terms between geographic and institutional variables are employed within the empirical analyses, and these offer a unique contribution to the ongoing geography vs. institutions debate within the political economy literature. This study finds that there is indeed an interactive effect between geography and institutions, and that this interaction has a statistically significant effect on economic development. Democracy (as measured by Polity score) and rule of law and property rights (as measured by the Fraser index) have positive effects on economic development (as measured by GDP per capita), yet the magnitude of these effects are stronger in contexts where a low percent of the national population lives in the geographical tropics. This has implications for promoting economic development, and it highlights the importance of understanding geographical context.

Keywords: Montesquieu, institutions, geography, economic development, political philosophy, political economy

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Authors: Avani Chhajlani

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Fashion is considered to be the most destructive industry, second only to the oil rigging industry, which has a greater impact on the environment. While fashion today banks upon fast fashion to generate a higher turnover of designs and patterns in apparel and related accessories, crafts push us towards a more slow and thoughtful approach with culturally identifiably unique work and slow community-centered production. Despite this strong link between indigenous crafts and sustainability, it has not been extensively researched and explored upon. In the forthcoming years, the fashion industry will have to reinvent itself to move towards a more holistic and sustainable circular model to balance the harm already caused. And closed loops of the circular economy will help the integration of indigenous craft knowledge, which is regenerative. Though sustainability and crafts of a region go hand-in-hand, the craft still have to find its standing in the mainstream fashion world; craft practices have a strong local congruence and knowledge that has been passed down generation-to-generation through oration or written materials. This paper aims to explore ways a circular economy can be created by amalgamating fashion and craft while creating a sustainable business model and how this is slowly being created today through brands like – RaasLeela, Pero, and KaSha, to name a few.

Keywords: circular economy, fashion, India, indigenous crafts, slow fashion, sustainability, up-cycling

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Authors: Galuh Pramesti

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In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market.

Keywords: creative economy, market sustainability, traditional market, urban resilience

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Authors: Tao Peng

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This paper presents a holistic model of political economy based on Daoism – the foundational philosophy of classical Chinese epistemology. Daoism is both comprehensive and subtle in its manifestations and applications in all aspects of nature and society. Based on Daoist creation theory of the universe, life theory and five element functioning theory, a holistic model in economics with minimal assumptions and independent of ideology are constructed. Under this framework, different schools of economics, such as neo-liberal, Marxism, and Austrian school, are explored and shed new light on. Economic and financial predictions can be realized in applications to Qi Men Dun Jia. This framework can provide guidelines and inspirations to economic modelling, economic policies formulation and strategy development and guide society towards a more sustainable future.

Keywords: daoism, economics, holistic, philosophy

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Authors: Ezinne M. Igwe

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Statements of facts have been made about Nollywood, a segment of the Nigerian film industry that has in recent times become phenomenal due largely to its quantity of production and specific production style. In the face of recent transformations reshaping the industry, matters have been arising which have not been given due academic attention from an industry player perspective. While re-addressing such issues like structure, policy and informality, this study benefits from a new perspective – that of a community member adopting participant observation to research into a familiar culture. With data drawn from an extensive ethnographic study of the industry, this paper examines these matters with an emphasis on structure and the industry’s overall political economy. Drawing from discourses on the new and old Nollywood labels and other current matters arising within the industry such as the MOPICON bill redraft, corporate financing and possibilities of regeneration, this paper examines structure and power struggle within Nollywood. These are championing regenerative processes that bring about formalization, professionalism and the quest for a transnational presence, which have only been superficially evaluated. Focused essentially on Nollywood’s political economy, this study critically analyses the transforming face of an informal industry, the consistent quest for structure, quality and standard, and issues of corporate sponsorship as possible trends of regeneration. It evaluates them as indicators of regeneration, questioning the possibilities of their sustenance in an industry experiencing increased interactions with the formal economy and an influx of young professionals. With findings that make sustained regeneration both certain (due to increased formal economy interaction) and uncertain (due to the dysfunctionality of the society and its political system), it concludes that the transforming face of the industry suggests impending gentrification of the industry.

Keywords: formalisation, MOPICON, Nollywood, structure

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Authors: Dali Gaganidze, Ekaterine Abashidze

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Potato is one of the main agricultural crops in Georgia. Georgia produces early and late potato varieties in almost all regions. In traditional potato growing regions (Svaneti, Samckhet javaheti and Tsalka), the yield is higher than 30-35 t/ha. Among the plant pests that limit potato production and quality, the potato cyst nematodes (PCN) are harmful around the world. Yield losses caused by PCN are estimated up to 30%. Rout surveys conducted in two geographically distinct regions of Georgia producing potatoes - Samtskhe - Javakheti and Svaneti revealed potato cyst nematode Globodera rostochiensi. The aim of the study was the Phylogenetic analyses of Globodera rostochiensi revealed in Georgia by the amplification and sequencing of 28S gen in the D3 region and intergenic ITS1-15.8S-ITS2 region. Identification of all the samples from the two Globodera populations (Samtskhe - Javakheti and Svaneti), i.e., G. rostochiensis (20 isolates) were confirmed by conventional multiplex PCR with ITS 5 universal and PITSp4, PITSr3 specific primers of the cyst nematodes’ (G. pallida, G. rostochiensis). The size of PCR fragment 434 bp confirms that PCN samples from two populations, Samtskhe- Javakheti and Svaneti, belong to G. rostochiensi . The ITS1–5.8S-ITS2 regions were amplified using prime pairs: rDNA1 ( 5’ -TTGATTACGTCCCTGCCCTTT-3’ and rDNA2( 5’ TTTCACTCGCCGTTACTAAGG-3’), D3 expansion regions were amplified using primer pairs: D3A (5’ GACCCCTCTTGAAACACGGA-3’) and D3B (5’-TCGGAAGGAACCAGCTACTA-3’. PCR products of each region were cleaned up and sequenced using an ABI 3500xL Genetic Analyzer. Obtained sequencing results were analyzed by computer program BLASTN (https://blast.ncbi.nlm.nih.gov/Blast.cg). Phylogenetic analyses to resolve the relationships between the isolates were conducted in MEGA7 using both distance- and character-based methods. Based on analysis of G.rostochiensis isolate`s D3 expansion regions are grouped in three major clades (A, B and C) on the phylogenetic tree. Clade A is divided into three subclades; clade C is divided into two subclades. Isolates from the Samtckhet-javakheti population are in subclade 1 of clade A and isolates in subclade 1 of clade C. Isolates) from Svaneti populations are in subclade 2 of clade A and in clad B. In Clade C, subclade two is presented by three isolates from Svaneti and by one isolate (GL17) from Samckhet-Javakheti. . Based on analysis of G.rostochiensis isolate`s ITS1–5.8S-ITS2 regions are grouped in two main clades, the first contained 20 Georgian isolates of Globodera rostochiensis from Svaneti . The second clade contained 15 isolates of Globodera rostochiensis from Samckhet javakheti. Our investigation showed of high genetic variation of D3 and ITS1–5.8S-ITS2 region of rDNA of the isolates of G. rostochiensis from different geographic origins (Svameti, Samckhet-Javakheti) of Georgia. Acknowledgement: The research has been supported by the Shota Rustaveli National Scientific Foundation of Georgia : Project # FR17_235

Keywords: globodera rostochiensi, PCR, phylogenetic tree, sequencing

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Authors: Maciej Życki, Anna Kowalik-klimczak, Monika Łożyńska, Wioletta Barszcz, Jolanta Drabik Anna Kowalik-klimczak

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The rapidly changing fashion trends generate huge amounts of leather and textile waste globally. The complexity of these types of waste makes recycling difficult in economic terms. Pyrolysis is suggested for this purpose, which transforms heterogeneous and complex waste into added-value products e.g. active carbons and soil fertilizer. The possibility of using pyrolysis for the valorization of leather and textile waste has been analyzed in this paper. In the first stage, leather and textile waste were subjected to TG/DTG thermogravimetric and DSC calorimetric analysis. These analyses provided basic information about thermochemical transformations and degradation rates during the pyrolysis of these types of waste and enabled the selection of the pyrolysis temperature. In the next stage, the effect of gas type using pyrolysis was investigated on the physicochemical properties, composition, structure, and formation of the specific surfaces of carbonized materials produced by means of a thermal treatment without oxygen access to the reaction chamber. These studies contribute some data about the thermal management and pyrolytic processing of leather and textile waste into useful carbonized materials, according to the circular economy model.

Keywords: pyrolysis, leather and textiles waste, composition and structure of carbonized materials, valorisation of waste, circular economy model

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