Search results for: economic analysis

Authors: Pratima Poudel, Austin Himes, Heidi Renninger, Eric McConnel

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Populus spp. (poplar) are the fastest-growing trees in North America, making them ideal for a range of applications as they can achieve high yields on short rotations and regenerate by coppice. Furthermore, poplar undergoes biochemical conversion to fuels without complexity, making it one of the most promising, purpose-grown, woody perennial energy sources. Employing wood-based biomass for bioenergy offers numerous benefits, including reducing greenhouse gas (GHG) emissions compared to non-renewable traditional fuels, the preservation of robust forest ecosystems, and creating economic prospects for rural communities.In order to gain a better understanding of the potential use of poplar as a biomass feedstock for biofuel in the southeastern US, the conducted a techno-economic assessment (TEA). This assessment is an analytical approach that integrates technical and economic factors of a production system to evaluate its economic viability. the TEA specifically focused on a short rotation coppice system employing a single-pass cut-and-chip harvesting method for poplar. It encompassed all the costs associated with establishing dedicated poplar plantations, including land rent, site preparation, planting, fertilizers, and herbicides. Additionally, we performed a sensitivity analysis to evaluate how different costs can affect the economic performance of the poplar cropping system. This analysis aimed to determine the minimum average delivered selling price for one metric ton of biomass necessary to achieve a desired rate of return over the cropping period. To inform the TEA, data on the establishment, crop care activities, and crop yields were derived from a field study conducted at the Mississippi Agricultural and Forestry Experiment Station's Bearden Dairy Research Center in Oktibbeha County and Pontotoc Ridge-Flatwood Branch Experiment Station in Pontotoc County.

Keywords: biomass, populus species, sensitivity analysis, technoeconomic analysis

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Authors: Esra Polat

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Partial Least Squares Discriminant Analysis (PLSDA) is a statistical method for classification and consists a classical Partial Least Squares Regression (PLSR) in which the dependent variable is a categorical one expressing the class membership of each observation. PLSDA can be applied in many cases when classical discriminant analysis cannot be applied. For example, when the number of observations is low and when the number of independent variables is high. When there are missing values, PLSDA can be applied on the data that is available. Finally, it is adapted when multicollinearity between independent variables is high. The aim of this study is to determine the economic and/or demographic indicators, which are effective in grouping the 28 European Union (EU) member countries and 7 candidate countries (including potential candidates Bosnia and Herzegovina (BiH) and Kosova) by using the data set obtained from database of the World Bank for 2014. Leaving the political issues aside, the analysis is only concerned with the economic and demographic variables that have the potential influence on country’s eligibility for EU entrance. Hence, in this study, both the performance of PLSDA method in classifying the countries correctly to their pre-defined groups (candidate or member) and the differences between the EU countries and candidate countries in terms of these indicators are analyzed. As a result of the PLSDA, the value of percentage correctness of 100 % indicates that overall of the 35 countries is classified correctly. Moreover, the most important variables that determine the statuses of member and candidate countries in terms of economic indicators are identified as 'external balance on goods and services (% GDP)', 'gross domestic savings (% GDP)' and 'gross national expenditure (% GDP)' that means for the 2014 economical structure of countries is the most important determinant of EU membership. Subsequently, the model validated to prove the predictive ability by using the data set for 2015. For prediction sample, %97,14 of the countries are correctly classified. An interesting result is obtained for only BiH, which is still a potential candidate for EU, predicted as a member of EU by using the indicators data set for 2015 as a prediction sample. Although BiH has made a significant transformation from a war-torn country to a semi-functional state, ethnic tensions, nationalistic rhetoric and political disagreements are still evident, which inhibit Bosnian progress towards the EU.

Keywords: classification, demographic indicators, economic indicators, European Union, partial least squares discriminant analysis

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Authors: Jackson Niyongabo

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This study addresses a notable gap in the existing literature on the relationship between energy consumption, economic growth, and CO₂ emissions, particularly within the African context. While numerous studies have explored these dynamics globally and regionally across various development levels, few have delved into the nuances of regions and income levels specific to African countries. Furthermore, the evaluation of the interplay between green growth policies, green energy technologies, and their impact on environmental quality has been underexplored. This research aims to fill these gaps by conducting a comprehensive analysis of the transition from conventional economic growth and energy consumption to a paradigm of green growth coupled with green energy utilization across the African continent from 1980 to 2018. The study is structured into three main parts: an empirical examination of the long-term effects of energy intensity, renewable energy consumption, and economic growth on CO₂ emissions across diverse African regions and income levels; an estimation of the long-term impact of green growth and green energy use on CO₂ emissions for countries implementing green policies within Africa, as well as at regional and global levels; and a comparative analysis of the impact of green growth policies on environmental degradation before and after implementation. Employing advanced econometric methods and panel estimators, the study utilizes a testing framework, panel unit tests, and various estimators to derive meaningful insights. The anticipated results and conclusions will be elucidated through causality tests, impulse response, and variance decomposition analyses, contributing valuable knowledge to the discourse on sustainable development in the African context.

Keywords: economic growth, green growth, energy consumption, CO₂ emissions, econometric models, green energy

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Authors: Nesli Aydin

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Waste management decision making in developing countries has moved towards being more pragmatic, transparent, sustainable and comprehensive. Turkey is required to make its waste related legislation compatible with European Legislation as it is a candidate country of the European Union. Improper Turkish practices such as open burning and open dumping practices must be abandoned urgently, and robust waste management systems have to be structured. The determination of an optimum waste management system in any region requires a comprehensive analysis in which many criteria are taken into account by stakeholders. In conducting this sort of analysis, there are two main criteria which are evaluated by waste management analysts; economic viability and environmentally friendliness. From an analytical point of view, a central characteristic of sustainable development is an economic-ecological integration. It is predicted that building a robust waste management system will need significant effort and cooperation between the stakeholders in developing countries such as Turkey. In this regard, this study aims to provide data regarding the cost and environmental burdens of waste treatment technologies such as an incinerator, an autoclave (with different capacities), a hydroclave and a microwave coupled with updated information on calculation methods, and a framework for comparing any proposed scenario performances on a cost and environmental basis.

Keywords: decision making, economic viability, environmentally friendliness, waste management systems

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Authors: M. G. Shilina

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The interstate economic interaction phenomenon is complex. ‘Economic integration’, as one of its types, can be explored through the prism of international law, the theories of the world economy, politics and international relations. The most objective study of the phenomenon requires a comprehensive multifactoral approach. In new geopolitical realities, the problems of coexistence and possible interconnection of various mechanisms of interstate economic interaction are actively discussed. Currently, the Eurasian continent states support the direction to economic integration. At the same time, the existing international economic law fragmentation in Eurasia is seen as the important problem. The Eurasian space is characterized by a various types of interstate relations: international agreements (multilateral and bilateral), and a large number of cooperation formats (from discussion platforms to organizations aimed at deep integration). For their harmonization, it is necessary to have a clear vision to the phased international economic relations regulation options. In the conditions of rapid development of international economic relations, the modeling (including prognostic) can be optimally used as the main scientific method for presenting the phenomenon. On the basis of this method, it is possible to form the current situation vision and the best options for further action. In order to determine the most objective version of the integration development, the combination of several approaches were used. The normative legal approach- the descriptive method of legal modeling- was taken as the basis for the analysis. A set of legal methods was supplemented by the international relations science prognostic methods. The key elements of the model are the international economic organizations and states' associations existing in the Eurasian space (the Eurasian Economic Union (EAEU), the European Union (EU), the Shanghai Cooperation Organization (SCO), Chinese project ‘One belt-one road’ (OBOR), the Commonwealth of Independent States (CIS), BRICS, etc.). A general term for the elements of the model is proposed - the interstate interaction mechanisms (IIM). The aim of building a model of current and future Eurasian economic integration is to show optimal options for joint economic development of the states and IIMs. The long-term goal of this development is the new economic and political space, so-called the ‘Great Eurasian Community’. The process of achievement this long-term goal consists of successive steps. Modeling the integration architecture and dividing the interaction into stages led us to the following conclusion: the SCO is able to transform Eurasia into a single economic space. Gradual implementation of the complex phased model, in which the SCO+ plays a key role, will allow building an effective economic integration for all its participants, to create an economically strong community. The model can have practical value for politicians, lawyers, economists and other participants involved in the economic integration process. A clear, systematic structure can serve as a basis for further governmental action.

Keywords: economic integration, The Eurasian Economic Union, The European Union, The Shanghai Cooperation Organization, The Silk Road Economic Belt

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Authors: Nayyra Zeb, Fu Qiang, Sundas Rauf

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Foreign Direct Investment (FDI) is often seen as a significant factor of economic development in developing countries like Pakistan. The aim of this article is to investigate the effect of FDI on Pakistan’s economic growth during 1972–2012. Besides FDI, three other variables such as trade openness, political instability and terrorist attacks are also used in this study. The least square method has been applied to check the effect of these variables on GDP of Pakistan. The results show that FDI has a positive significant effect on economic growth of Pakistan.

Keywords: FDI inflows, trade openness, political instability, terrorist attacks

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Authors: Uyi Kizito Ehigiamusoe

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The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.

Keywords: economic growth, investments, money market, money market challenges, money market instruments

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Authors: Isara Muangthai, Lin Sue Jane

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Electricity is vital to every country’s economy in the world. For Thailand, the electricity generation sector plays an important role in the economic system, and it is the largest source of CO2 emissions. The aim of this paper is to use the decomposition analysis to investigate the key factors contributing to the changes of CO2 emissions from the electricity sector. The decomposition analysis has been widely used to identify and assess the contributors to the changes in emission trends. Our study adopted the Divisia index decomposition to identify the key factors affecting the evolution of CO2 emissions from Thailand’s thermal power sector during 2000-2011. The change of CO2 emissions were decomposed into five factors, including: Emission coefficient, heat rate, fuel intensity, electricity intensity, and economic growth. Results have shown that CO2 emission in Thailand’s thermal power sector increased 29,173 thousand tons during 2000-2011. Economic growth was found to be the primary factor for increasing CO2 emissions, while the electricity intensity played a dominant role in decreasing CO2 emissions. The increasing effect of economic growth was up to 55,924 million tons of CO2 emissions because the growth and development of the economy relied on a large electricity supply. On the other hand, the shifting of fuel structure towards a lower-carbon content resulted in CO2 emission decline. Since the CO2 emissions released from Thailand’s electricity generation are rapidly increasing, the Thailand government will be required to implement a CO2 reduction plan in the future. In order to cope with the impact of CO2 emissions related to the power sector and to achieve sustainable development, this study suggests that Thailand’s government should focus on restructuring the fuel supply in power generation towards low carbon fuels by promoting the use of renewable energy for electricity, improving the efficiency of electricity use by reducing electricity transmission and the distribution of line losses, implementing energy conservation strategies by enhancing the purchase of energy-saving products, substituting the new power plant technology in the old power plants, promoting a shift of economic structure towards less energy-intensive services and orienting Thailand’s power industry towards low carbon electricity generation.

Keywords: co2 emission, decomposition analysis, electricity generation, energy consumption

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Authors: Shierwin Agagen Cabunilas

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Countless Filipinos are reeling in dire economic inequality while many others are victims of human trafficking. Where there is extreme economic inequality, majority of the Filipinos are deprived of basic needs to have a good life, i.e., decent shelter, safe environment, food, quality education, social security, etc. The problem on human trafficking poses a scandal and threat in respect to human rights and dignity of a person on matters of sex, gender, ethnicity and race among others. The economic inequality and trafficking in persons are social pathologies that needed considerable amount of attention and visible solution both in the national and international level. However, the Philippine government seems falls short in terms of goals to lessen, if not altogether eradicate, the dire fate of many Filipinos. The lack of solidarity among Filipinos seems to further aggravate injustice and create hindrances to economic equity and protection of Filipinos from syndicated crimes, i.e., human trafficking. Indifference towards the welfare and well-being of the Filipino people trashes them into an unending cycle of marginalization and neglect. A transnational solidaristic action in response to these concerns is imperative. The subsequent sections will first discuss the notion of solidarity and the motivating factors for collective action. While solidarity has been previously thought of as stemming from and for one’s own community and people, it can be argued as a value that defies borders. Solidarity bridges peoples of diverse societies and cultures. Although there are limits to international interventions on another’s sovereignty, such as, internal political autonomy, transnational solidarity may not be an opposition to solidarity with people suffering injustices. Governments, nations and institutions can work together in securing justice. Solidarity thus is a positive political action that can best respond to issues of economic, class, racial and gender injustices. This is followed by a critical analysis of some data on Philippine economic inequality and human trafficking and link the place of transnational solidaristic arrangements. Here, the present work is interested on the normative aspect of the problem. It begins with the section on economic inequality and subsequently, human trafficking. It is argued that a transnational solidarity is vital in assisting the Philippine governing bodies and authorities to seriously execute innovative economic policies and developmental programs that are justice and egalitarian oriented. Transnational solidarity impacts a corrective measure in the economic practices, and activities of the Philippine government. Moreover, it is suggested that in order to mitigate Philippine economic inequality and human trafficking concerns it involves a (a) historical analysis of systems that brought about economic anomalies, (b) renewed and innovated economic policies, (c) mutual trust and relatively high transparency, and (d) grass-root and context-based approach. In conclusion, the findings are briefly sketched and integrated in an optimistic view that transnational solidarity is capable of influencing Philippine governing bodies towards socio-economic transformation and development of the lives of Filipinos.

Keywords: Philippines, Filipino, economic inequality, human trafficking, transnational solidarity

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Authors: Waheed O. Majekodunmi

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Climate change is a real global phenomenon and an unquestionable threat to our quest for a healthy and livable planet. It is now regarded as potentially the most monumental environmental challenge people and the planet will be confronted with over the next centuries. Expectedly, climate change mitigation was one of the central themes of COP 28. Despite contributing the least to climate change, Africa is and remains the hardest hit by the negative consequences of climate change including poor growth performance. Currently, it is being hypothesized that the high level of vulnerability and exposure to climate-related disasters, low adaptive capacity against global warming and high mitigation costs of climate change across the continent could be linked to the recent abysmal economic performance of African countries, especially in oil-producing countries where greenhouse gas emissions, is potentially more prevalent. This paper examines the impact of climate change on the economic performance of selected oil-producing countries in Africa using evidence from Nigeria, Algeria and Angola. The objective of the study is to determine whether or not climate change influences the economic performance of oil-producing countries in Africa by examining the nexus between economic growth and climate-related variables. The study seeks to investigate the effect of climate change on the pace of economic growth in African oil-producing countries. To achieve the research objectives, this study utilizes a quantitative approach by using historical and current secondary data sets to determine the relationship between climate-related variables and economic growth variables in the selected countries. The study employed numbers, percentages, tables and trend graphs to explain the trends or common patterns between climate change, economic growth and determinants of economic growth: governance effectiveness, infrastructure, macroeconomic stability and regulatory efficiency. Results from the empirical analysis of data show that the trends of economic growth and climate-related variables in the selected oil-producing countries are in the opposite directions as the increasing share of renewable energy sources in total energy consumption and the reduction in greenhouse gas emissions per capita in the oil-producing countries did not translate to higher economic growth. Further findings show that annual surface temperatures in the selected countries do not share similar trends with the food imports ratio and GDP per capita annual growth rate suggesting that climate change does not impact significantly agricultural productivity and economic growth in oil-producing countries in Africa. Annual surface temperature was also found to not share a similar pattern with governance effectiveness, macroeconomic stability and regulatory efficiency reinforcing the claim that some economic growth variables are independent of climate change. The policy implication of this research is that oil-producing African countries need to focus more on improving the macroeconomic environment and streamlining governance and institutional processes to boost their economic performance before considering the adoption of climate change adaptation and mitigation strategies.

Keywords: climate change, climate vulnerability, economic growth, greenhouse gas emissions per capita, oil-producing countries, share of renewable energy in total energy consumption

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Authors: Mingbao Chen, Mingli Zhao

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The coastal zone is the intersection of land and sea system, and also is the connecting zone of the two economic systems of land and sea. In the world, all countries attach great importance to the coastal zone management and the coastal zone economy. In China, the government has developed a number of related coastal management policies and institutional, such as marine functional zoning, main function zoning, integrated coastal zone management, to ensure the sustainable utilization of the coastal zone and promote the development of coastal economic. However, in practice, the effect is not satisfactory. This paper analyses the coastal areas of coastal zone management on coastal economic growth contribution based on coastal areas economic development data with the 2007-2015 in China, which uses the method of the evaluation index system of coastal zone management institutional efficiency. The results show that the coastal zone management institutional objectives are not clear, and the institutional has high repeatability. At the same time, over management of coastal zone leads to low economic efficiency because the government management boundary is blurred.

Keywords: institutional overlap, over management, coastal zone management, coastal zone economy

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Authors: Olanike A. Ojo, Akindele M. Ojo, Jacob H. Tsado, Ramatu U. Kutigi

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The study was carried out on analysis of the effect of farmers’ socio-economic factors on the net farm income of catfish farmers in Kwara State, Nigeria. Primary data were collected from selected catfish farmers with the aid of well-structured questionnaire and a multistage sampling technique was used to select 102 catfish farmers in the area. The analytical techniques involved the use of descriptive statistics and multiple regression analysis. The findings of the analysis of socio-economic characteristics of catfish farmers reveal that 60% of the catfish farmers in the study area were male gender which implied the existence of gender inequality in the area. The mean age of 47 years was an indication that they were at their economically productive age and could contribute positively to increased production of catfish in the area. Also, the mean household size was five while the mean year of experience was five. The latter implied that the farmers were experienced in fishing techniques, breeding and fish culture which would assist in generating more revenue, reduce cost of production and eventual increase in profit levels of the farmers. The result also revealed that stock capacity (X3), accessibility to credit (X7) and labour (X4) were the main determinants of catfish production in the area. In addition, farmer’s sex, household size, no of ponds, distance of the farm from market, access to credit were the main socio-economic factors influencing the net farm income of the catfish farmers in the area. The most serious constraints militating against catfish production in the study area were high mortality rate, insufficient market, inadequate credit facilities/ finance and inadequate skilled labour needed for daily production routine. Based on the findings, it is therefore recommended that, to reduce the mortality rate of catfish extension agents should organize training workshops on improved methods and techniques of raising catfish right from juvenile to market size.

Keywords: credit, income, stock, mortality

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Authors: Shpetim Rezniqi

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Over the years has increased, and increasingly has become necessary to make audit of financial statements. An auditor to perform an audit, should plan its audit in order to provide a high-quality audit and to be performed in an economic, efficient, effective and timely. This phase of the audit is also important stages of reach to the final goal of an audit to be professional and based in Kosovo and International Standards on Auditing. Always considering Kosovo as a new state and once out of war, where everything in its entrepreneurship started from the lowest stage of economic development and aim at development and regional and European integration, planning and performing audit becomes even more important.

Keywords: control, accounting, planning, analysis

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Authors: Adji Achmad Rinaldo Fernandes, Usriatur Rohma

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Nonparametric path analysis is a statistical method that does not rely on the assumption that the curve is known. The purpose of this study is to determine the best truncated spline nonparametric path function between linear and quadratic polynomial degrees with 1, 2, and 3 knot points and to determine the significance of estimating the best truncated spline nonparametric path function in the model of the effect of perceived benefits and perceived convenience on behavior to convert waste into economic value through the intention variable of changing people's mindset about waste using the t test statistic at the jackknife resampling stage. The data used in this study are primary data obtained from research grants. The results showed that the best model of nonparametric truncated spline path analysis is quadratic polynomial degree with 3 knot points. In addition, the significance of the best truncated spline nonparametric path function estimation using jackknife resampling shows that all exogenous variables have a significant influence on the endogenous variables.

Keywords: nonparametric path analysis, truncated spline, linear, kuadratic, behavior to turn waste into economic value, jackknife resampling

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Authors: Boopen Seetanah, R. V. Sannassee, Sheereen Fauzel, Robin Nunkoo

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The bulk of research on the impact of research and development (R&D) has been carried out in developed economies where the intensity of R&D expenditure has been relatively high and stable for many years. However, there is a paucity of similar studies in developing countries. In this paper, we provide empirical estimates of the impact of R&D investment on economic growth in a developing African economy (Mauritius) where R&D expenditure intensity has been low initially, but rising, albeit moderately in recent years. Using a dynamic time series analysis over the period 1980 to 2014 in a Vector Autoregressive framework, R & D is shown to have a positive and significant effect on the economic progress of the island, although the impact is considerably less when compared to both other ingredients of growth and also to reported elasticities fromdeveloped economies . Interestingly, there is evidence of bicausality between R & D and growth. furthermore, R & D positively impacts on both domestic and foreign investment, suggesting the possibilities of indirect effects.

Keywords: R & D, VECM, Africa, Mauritius

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Authors: Nada Souissi, Mourad Mroua

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The main purpose of this study is to examine the interaction between financial asset volatility, economic factors and investor's behavioral indicators related to both the company's and the markets stocks for the period from January 2000 to January2020. Using multiple linear regression and Bayesian Networks modeling, results show a positive and negative relationship between investor's psychology index, economic factors and predicted stock market return. We reveal that the application of the Bayesian Discrete Network contributes to identify the different cause and effect relationships between all economic, financial variables and psychology index.

Keywords: Financial asset return predictability, Economic factors, Investor's psychology index, Bayesian approach, Probabilistic networks, Parametric learning

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Authors: I.-A. Ciobotaru, I.-E. Ciobotaru, D.-I. Vaireanu

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Currently, an ascending trend of battery use may be observed, together with an increase of the generated amount of waste. Efforts have been focused on the recycling of batteries; however, extending their lifetime may be a more adequate alternative, and the development of such methods may prove to be more cost efficient as compared to recycling. In this context, this paper presents the analysis of a proposed process for the reconditioning of some lithium-ions batteries. The analysis is performed based on two criteria, the first one referring to the technical aspect of the reconditioning process and the second to the economic aspects. The main technical parameters taken into consideration are the values of capacitance and internal resistance of the lithium-ion batteries. The economic criterion refers to the evaluation of the efficiency of the reconditioning procedure reported to its total cost for the investigated lithium-ion batteries. Based on the cost analysis, one introduced a novel coefficient that correlates the efficiency of the aforementioned process and its corresponding costs. The reconditioning procedure for the lithium-ion batteries proposed in this paper proved to be valid, efficient, and with reasonable costs.

Keywords: cost assessment, lithium-ion battery, reconditioning coefficient, reconditioning procedure

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Authors: Alfred Quarcoo

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The main purpose of this paper is to examine the causal relationship between energy consumption and economic growth in Sub-Saharan Africa using panel data techniques. An annual data on energy consumption and Economic Growth (proxied by real gross domestic product per capita) spanning from 1990 to 2016 from the World bank index database was used. The results of the Augmented Dickey–Fuller unit root test shows that the series for all countries are not stationary at levels. However, the log of economic growth in Benin and Congo become stationary after taking the differences of the data, and log of energy consumption become stationary for all countries and Log of economic growth in Kenya and Zimbabwe were found to be stationary after taking the second differences of the panel series. The findings of the Johansen cointegration test demonstrate that the variables Log of Energy Consumption and Log of economic growth are not co-integrated for the cases of Kenya and Zimbabwe, so no long-run relationship between the variables were established in any country. The Granger causality test indicates that there is a unidirectional causality running from energy use to economic growth in Kenya and no causal linkage between Energy consumption and economic growth in Benin, Congo and Zimbabwe.

Keywords: Cointegration, Granger Causality, Sub-Sahara Africa, World Bank Development Indicators

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Authors: Ezekiel Ejiofor Nnadi

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Nigeria construction industry is known for its active construction activities. This has earmarked the industry to be the key to economic growth of the nation. It has largest employer of labour and gives sustenance to other industries like manufacturing industry. While this is a sign of growth and prosperity; the waste generated by the industry has always been a problem and a serious concern. It results in wastage of economic gain and has resultant health effect on the populace apart from injury being sustained on sites. This work provides a platform to learn more about construction waste, its management strategy and how to reduce waste production in Nigeria construction industry. Construction sites, waste management authority and public health institutions in Lagos as the centre of most construction activities in Nigeria were selected, and a set of questionnaire was administered to using the systematic sampling technique. Descriptive statistics and relative importance index (RII) technique were employed for the analysis of the data gathered. The findings of the analysis show that excessive wastes reduce contractors’ profit margin and also that some construction wastes contain hazardous and toxic elements such as lead, asbestos or radioactive materials which required proper handling and effective disposal. The conclusion was drawn that the check on waste on construction sites starts with the designers to the contractors who execute on site.

Keywords: construction cost, construction industry, economic growth, materials wastes

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Authors: Norbert Csizmadia

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The paper is based on a thorough investigation regarding the recent global, social and geographical processes. The ‘Geofusion’ book series by the author guides the readers with the help of newly illustrated “associative” geographic maps of the global world in the 21st century through the quest for the winning nations, communities, leaders and powers of this age. Hence, the above mentioned represent the research objectives, the preliminary findings of which are presented in this paper. The most significant recognition is that scientists who are recognized as explorers, geostrategists of this century, in this case, are expected to present guidelines for our new world full of global social and economic challenges. To do so, new maps are needed which do not miss the wisdom and tools of the old but complement them with the new structure of knowledge. Using the lately discovered geographic and economic interrelations, the study behind this presentation tries to give a prognosis of the global processes. The methodology applied contains the survey and analysis of many recent publications worldwide regarding geostrategic, cultural, geographical, social, and economic surveys structured into global networks. In conclusion, the author presents the result of the study, which is a collage of the global map of the 21st century as mentioned above, and it can be considered as a potential contribution to the recent scientific literature on the topic. In summary, this paper displays the results of several-year-long research giving the audience an image of how economic navigation tools can help investors, politicians and travelers to get along in the changing new world.

Keywords: geography, economic geography, geo-fusion, geostrategy

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Authors: Usama Mohamed, Sam Booth, Aliysn J. Nedoma

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As part of the transition to electric vehicles, there has been a recent increase in demand for battery manufacturing. Cathodes typically account for approximately 50% of the total lithium-ion battery cell cost and are a pivotal factor in determining the viability of new industrial infrastructure. Cathodes which offer lower costs whilst maintaining or increasing performance, such as nickel-rich layered cathodes, have a significant competitive advantage when scaling up the manufacturing process. This project evaluates the techno-economic value proposition of an integrated industrial scale cathode active material (CAM) production process, closing the mass and energy balances, and optimizing the operation conditions using a sensitivity analysis. This is done by developing a process model of a co-precipitation synthesis route using Aspen Plus software and validated based on experimental data. The mechanism chemistry and equilibrium conditions were established based on previous literature and HSC-Chemistry software. This is then followed by integrating the energy streams, adding waste recovery and treatment processes, as well as testing the effect of key parameters (temperature, pH, reaction time, etc.) on CAM production yield and emissions. Finally, an economic analysis estimating the fixed and variable costs (including capital expenditure, labor costs, raw materials, etc.) to calculate the cost of CAM ($/kg and $/kWh), total plant cost ($) and net present value (NPV). This work sets the foundational blueprint for future research into sustainable industrial scale processes for CAM manufacturing.

Keywords: cathodes, industrial production, nickel-rich layered cathodes, process modelling, techno-economic analysis

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Authors: Prangvalai Buasan, Boonrod Sajjakulnukit, Thongchart Bowonthumrongchai

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The demand for biomass pellets in the industrial sector has significantly increased since 2020. The revised version of Thailand’s power development plan as well as the Alternative Energy Development Plan, aims to promote biomass fuel consumption by around 485 MW by 2030. The replacement of solid fossil fuel with biomass pellets will affect medium-term and long-term national benefits for all industries throughout the supply chain. Therefore, the evaluation of environmental and economic impacts throughout the biomass pellet supply chain needs to be performed to provide better insight into the goods and financial flow of this activity. This study extended the national input-output table for the biomass pellet industry and applied the input-output analysis (IOA) method, a sort of macroeconomic analysis, to interpret the result of transactions between industries in the monetary unit when the revised national power development plan was adopted and enforced. Greenhouse gas emissions from consuming energy and raw material through the supply chain are also evaluated. The total intermediate transactions of all economic sectors, which included the biomass pellets sector (CASE 2), increased by 0.02% when compared with the conservative case (CASE 1). The control total, which is the sum of total intermediate transactions and value-added, the control total of CASE 2 is increased by 0.07% when compared with CASE 1. The pellet production process emitted 432.26 MtCO2e per year. The major sharing of the GHG is from the plantation process of raw biomass.

Keywords: input-output analysis, environmental extended input-output analysis, macroeconomic planning, biomass pellets, renewable energy

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Authors: Kréhi Serge Agbli, Samuel Portebos, Michaël Salomon

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Here a methodology is considered aiming at evaluating the economic benefit of the provision of a primary frequency control unit using a Battery Energy Storage System (BESS). In this methodology, two control types (basic and hysteresis) are implemented and the corresponding minimum energy storage system power allowing to maintain the frequency drop inside a given threshold under a given contingency is identified and compared using DigSilent’s PowerFactory software. Following this step, the corresponding energy storage capacity (in MWh) is calculated. As PowerFactory is dedicated to dynamic simulation for transient analysis, a first order model related to the IEEE 9 bus grid used for the analysis under PowerFactory is characterized and implemented on MATLAB-Simulink. Primary frequency control is simulated using the two control types over one-month grid's frequency deviation data on this Simulink model. This simulation results in the energy throughput both basic and hysteresis BESSs. It emerges that the 15 minutes operation band of the battery capacity allocated to frequency control is sufficient under the considered disturbances. A sensitivity analysis on the width of the control deadband is then performed for the two control types. The deadband width variation leads to an identical sizing with the hysteresis control showing a better frequency control at the cost of a higher delivered throughput compared to the basic control. An economic analysis comparing the cost of the sized BESS to the potential revenues is then performed.

Keywords: battery energy storage system, electrical network frequency stability, frequency control unit, PowerFactor

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Authors: Ariadne Katsouras, Andrea Chareunsy

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The number of large hydroelectric dams in the world has increased from almost 6,000 in the 1950s to over 45,000 in 2000. Dams are often built to increase the economic development of a country. This can occur in several ways. Large dams take many years to build so the construction process employs many people for a long time and that increased production and income can flow on into other sectors of the economy. Additionally, the provision of electricity can help raise people’s living standards and if the electricity is sold to another country then the money can be used to provide other public goods for the residents of the country that own the dam. Dams are also built to control flooding and provide irrigation water. Most dams are of these types. This paper will give an overview of the environmental and economic theories of the impact of dams in different regions of the world. There is a difference in the degree of environmental and economic impacts due to the varying climates and varying social and political factors of the regions. Production of greenhouse gases from the dam’s reservoir, for instance, tends to be higher in tropical areas as opposed to Nordic environments. However, there are also common impacts due to construction of the dam itself, such as, flooding of land for the creation of the reservoir and displacement of local populations. Economically, the local population tends to benefit least from the construction of the dam. Additionally, if a foreign company owns the dam or the government subsidises the cost of electricity to businesses, then the funds from electricity production do not benefit the residents of the country the dam is built in. So, in the end, the dams can benefit a country economically, but the varying factors related to its construction and how these are dealt with, determine the level of benefit, if any, of the dam. Some of the theories or practices used to evaluate the potential value of a dam include cost-benefit analysis, environmental impacts assessments and regressions. Systems analysis is also a useful method. While these theories have value, there are also possible shortcomings. Cost-benefit analysis converts all the costs and benefits to dollar values, which can be problematic. Environmental impact assessments, likewise, can be incomplete, especially if the assessment does not include feedback effects, that is, they only consider the initial impact. Finally, regression analysis is dependent on the available data and again would not necessarily include feedbacks. Systems analysis is a method that can allow more complex modelling of the environment and the economic system. It would allow a clearer picture to emerge of the impacts and can include a long time frame.

Keywords: comparison, economics, environment, hydroelectric dams

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Authors: Mennani Maha, Attak El Houssain

Abstract:

Under the massive effect of the Covid-19 health crisis, marked by a loss of competitiveness, a slowdown in growth and an accumulation of the repercussions of socio-economic inequalities, a considerable effort must be combined, in Morocco, to put into perspective macro-political, macro-economic and social opportunities. The development of a new economic and social approach is essential in order to respond to the authenticity of the new development model that will be used by the country. The appropriation of strategies of solidarity and social cohesion constitutes a participatory, competitive and inclusive approach to support the functionalities of the economic, social and political system. Therefore, the search for alternative financial resources has become a necessity to achieve the objectives of sustainable socio-economic growth on the one hand; and to promote, on the other hands, the dynamics, of large scale, social investments. The zakat remains a site of the Islamic economy dedicated to stimulating the bases of a collective adhesion of the population on the economic, as well as on the social level, thanks to a fair and equitable distribution of the zakat funds. However, Morocco is one of the few Muslim countries that has not yet had an institution for collecting and distributing this Islamic duty, which makes it difficult to measure the socio-economic impact of zakat. This theoretical document essentially ensures the development of the crucial utility of institutionalizing zakat in order to reinforce the objectives of social solidarity in Morocco in line with the process of conceptualizing a new development model.

Keywords: zakat, socio-economic development, solidarity, social investment

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Authors: Giulia Balestracci

Abstract:

Pakistan is endowed with diversified natural capital spanning along the 1000-kilometer-long coastline, shared by the coastal provinces of Sindh and Balochistan. It includes some of the most diverse, extensive, and least disturbed reef areas in the Indian Ocean. Pakistani marine and coastal ecosystems are fundamental for the social and economic well-being of the region. They support economic activities such as fishing, shrimp farming, tourism, and shipping, which contribute to income, food security, and the livelihood of millions of people. The coastal regions of Sindh and Balochistan are rich in natural resources and diverse ecosystems, and host also rural coastal communities that have been the keepers of rich cultural legacies and pristine natural landscapes. However, significant barriers hinder tourism development, such as the daunting socio-economic challenges, including the post-COVID-19 scenario, forced migration, institutional gaps, and the ravages of climate change. Pakistan holds immense potential for the tourism sector development within the framework of a sustainable blue economy, thereby fostering greener economic growth and employment opportunities, securing financing for the protection and conservation of its coastal and marine natural assets. Based on the assessment of Pakistan’s natural and cultural coastal and maritime tourism resources, a deep study of the regulatory and institutional aspects of the tourism sector in the country accompanied by the SWOT analysis and accompanied by an in-depth interview with a member of the Pakistan National Tourism Coordination Board (NTCB). A market analysis has been developed, and Lao PDR, Thailand, and Indonesia’s ecotourism development have been analyzed under a comparative analysis length to recommend some nature-based tourism activities for the sustainable development of the coastal areas in Pakistan. Nature-based tourism represents a win-win option as it uses economic incentives for the protection and cultural uses of natural resources. This article stresses the importance of nature-based activities for blue tourism, aligning conservation with developmental goals to safeguard natural resources and cultural heritage, all while fostering economic prosperity.

Keywords: blue tourism, coastal Pakistan, nature-based tourism, sustainable blue economy, sustainable development

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Authors: Rizwan Fazal

Abstract:

This study investigates the behavior of external sector of Pakistan economy and its impact on economic growth, using quarterly data for the period 1990:01-2010:04. External sector indices used in this study are financial integration, net foreign assets and trade integration. Augmented Ducky fuller confirms that all variables of external sector are non-stationary at level, but at first difference it becomes stationary. The co-integration test suggests one co-integrating variables in the study. The analysis is based on Vector Auto Regression model followed by Vector Error Correction Model. The empirical findings show that financial integration play important role in increasing economic growth in Pakistan economy while trade integration has negative effect on economic growth of Pakistan in the long run. However, the short run confirms that output lag accounts for error correction. The estimated CUSUM and CUSUMQ stability test provide information that the period of the study equation remains stable.

Keywords: financial integration, trade integration, net foreign assets, gross domestic product

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Authors: A. Hany A. Khater, G. M. Mostafa, M. R. Badawy

Abstract:

The techno-economic analysis of the nuclear desalination is a very important tool that enables studying of the mutual effects between the nuclear power plant and the coupled desalination plant under different operating conditions, and hence investigating the feasibility of safe and economical production of potable water. For this purpose, a comprehensive model for both technical and economic performance evaluation of the nuclear desalination has been prepared. The developed model has the capability to be used in performing a parametric study for the performance measuring parameters of the nuclear desalination system. Also a sensitivity analysis of varying important factors such as interest/discount rate, power plant availability, fossil fuel prices, purchased electricity price, nuclear fuel cost, and specific base cost for both power and water plant has been conducted.

Keywords: uclear desalination, PWR, MED, MED-TVC, MSF, RO

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Authors: Maman Ali M. Moustapha, Qian Yu, Benjamin Adjei Danquah

Abstract:

This paper investigates the dynamic interaction between renewable energy consumption (REC) and economic growth using dataset from the Economic Community of West African States (ECOWAS) from 2002 to 2016. For this study the Autoregressive Distributed Lag- Bounds test approach (ARDL) was used to examine the long run relationship between real gross domestic product and REC, while VECM based on Granger causality has been used to examine the direction of Granger causality. Our empirical findings indicate that REC has significant and positive impact on real gross domestic product. In addition, we found that REC and the percentage of access to electricity had unidirectional Granger causality to economic growth while carbon dioxide emission has bidirectional Granger causality to economic growth. Our findings indicate also that 1 per cent increase in the REC leads to an increase in Real GDP by 0.009 in long run. Thus, REC can be a means to ensure sustainable economic growth in the ECOWAS sub-region. However, it is necessary to increase further support and investments on renewable energy production in order to speed up sustainable economic development throughout the region

Keywords: Economic Growth, Renewable Energy, Sustainable Development, Sustainable Energy

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Authors: Kurotimi Maurice Fems, Abara Onu, Francis W. D. Poazi

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Scholars and development economists believe that the development of an economy depends largely on the creative and innovative ingenuity of its entrepreneurs. Others however, are of the opinion that the lack of entrepreneurs or entrepreneurial activities is not a constraint to economic development in any economy, particularly Nigeria. This paper sets out to explore the connectivity between entrepreneurship and economic development from a theoretical point of view, principally in Nigeria. A desk research approach was adopted where a conglomerate of literatures was reviewed on how entrepreneurship can spur economic growth or otherwise. The findings reveal that entrepreneurship is vital to the development of Nigeria and that, universities and other Higher Education Institutions must play the vital role of educating the people on entrepreneurship skills and competences. However, the problems and difficulties entrepreneurs face in Nigeria and the same problems suffocating the growth and development of its economy. Therefore, entrepreneurship cannot be said to be the sole cure for economic under-development in Nigeria but rather other factors such as empowering and granting the institutions autonomy and the provision of infrastructural capability, such as consistent electricity generation and supply, good system of transportation, implementing proposed economic policies in an effective and efficient manner etc., the cultural beliefs and mindset of the citizenry, was also found to be key in the development of any economy.

Keywords: economic underdevelopment, entrepreneurial, entrepreneurship, infrastructural under-development, oil boom, SMEs, unemployable

Procedia PDF Downloads 267