Search results for: mutual economic growth

Authors: Mingbao Chen

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After Rio+20, the blue economy rises all over the world, and it has become the focus field of national development. At present, the blue economy has become a new growth point in the field of global economy and the direction of the development of ‘green’ in the ocean. However, in fact, the key factors affecting the development of the blue economy have not been explored in depth, and the development policies and performance of the blue economy have not been scientifically evaluated. This cannot provide useful guidance for the development of the blue economy. Therefore, it is urgent to establish a quantitative evaluation framework to measure the performance of the blue economic development. Based on the full understanding of the connotation and elements of the blue economy, and studying the literature, this article has built an universality and operability evaluation index system, including ecological environment, social justice, sustainable growth, policy measures, and so on. And this article also established a sound evaluation framework of blue economic development performance. At the same time, this article takes China as a sample to test the framework of the adaptability, and to assess the performance of China's blue economic.

Keywords: Blue economy, development performance, evaluation framework, assess method

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Authors: F. Guspi, E. García

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This exploratory study gives an overview of the evolution of the main financial and performance indicators of the Academic Spin-Off’s and High Growth Academic Spin-Off’s in year 3 and year 6 after its creation in the region of Catalonia in Spain. The study compares and evaluates results of these different measures of performance and the degree of success of these companies for each University. We found that the average Catalonian Academic Spin-Off is small and have not achieved the sustainability stage at year 6. On the contrary, a small group of High Growth Academic Spin-Off’s exhibit robust performance with high profits in year 6. Our results support the need to increase selectivity and support for these companies especially near year 3, because are the ones that will bring wealth and employment. University role as an investor has rigid norms and habits that impede an efficient economic return from their ASO investment. Universities with high performance on sales and employment in year 3 not always could sustain this growth in year 6 because their ASO’s are not profitable. On the contrary, profitable ASO exhibit superior performance in all measurement indicators in year 6. We advocate the need of a balanced growth (with profits) as a way to obtain subsequent continuous growth.

Keywords: Academic Spin-Off (ASO), university entrepreneurship, entrepreneurial university, high growth, New Technology Based Companies (NTBC), University Spin-Off

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Authors: Marjan Heidarian Dehkordi, Hossein Allahyari, Bruce Parker, Reza Talaee-Hassanlouei

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The Western flower thrips, Frankliniella occidentalis Priesner (Thysanoptera: Thripidae), is a significant pest of many economically important crops. This study evaluated the functional responses, prey-stage preferences and mutual interference of Amblyseius swirskii Anthias-Henriot (Acari: Phytoseiidae) with F. occidentalis as the host under laboratory conditions. The predator species showed no prey stage preference for either prey 1st or 2nd instar. Logistic regression analysis suggested Type II (convex) functional response for the predator species. Consequently, the per capita searching efficiency decreased significantly from 1.2425 to -7.4987 as predator densities increased from 2 to 8. The findings from this study could help select better biological control agents for effective control of F. occidentalis and other pests in vegetable production.

Keywords: biological control, functional responses, mutual interference, prey-stage preferences

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Authors: Ayoola Femi J., Kayode Balogun

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In some African Countries, increase in Gross Domestic Products (GDP) has not translated to real development as expected by common-man in his household. For decades, a lot of contests on economic growth and development has been a nagging issues. The focus of this study is to analysing the effects of economic determinants/factors on economic advances in some African Countries by employing panel data analysis. The yearly (1990-2013) data were obtained from the world economic outlook database of the International Monetary Fund (IMF), for probing the effects of these variables on growth rate in some selected African countries which include: Nigeria, Algeria, Angola, Benin, Botswana, Burundi, Cape-Verde, Cameroun, Central African Republic, Chad, Republic Of Congo, Cote di’ Voire, Egypt, Equatorial-Guinea, Ethiopia, Gabon, Ghana, Guinea Bissau, Kenya, Lesotho, Madagascar, Mali, Mauritius, Morocco, Mozambique, Niger, Rwanda, Senegal, Seychelles, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Togo, Tunisia, and Uganda. The effects of 6 macroeconomic variables on GDP were critically examined. We used 37 Countries GDP as our dependent variable and 6 independent variables used in this study include: Total Investment (totinv), Inflation (inf), Population (popl), current account balance (cab), volume of imports of goods and services (vimgs), and volume of exports of goods and services (vexgs). The results of our analysis shows that total investment, population and volume of exports of goods and services strongly affect the economic growth. We noticed that population of these selected countries positively affect the GDP while total investment and volume of exports negatively affect GDP. On the contrary, inflation, current account balance and volume of imports of goods and services’ contribution to the GDP are insignificant. The results of our analysis shows that total investment, population and volume of exports of goods and services strongly affect the economic growth. We noticed that population of these selected countries positively affect the GDP while total investment and volume of exports negatively affect GDP. On the contrary, inflation, current account balance and volume of imports of goods and services’ contribution to the GDP are insignificant. The results of this study would be useful for individual African governments for developing a suitable and appropriate economic policies and strategies. It will also help investors to understand the economic nature and viability of Africa as a continent as well as its individual countries.

Keywords: African countries, economic growth and development, gross domestic products, static panel data models

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Authors: Kemi Olalekan Oduntan

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Transformation is a strong word that portends a radical, structural and basic reappraisal of the basic assumptions that underline our economic reform and developmental efforts. The challenges before government are how to move the nation away from an oil-dominated economy, institute the basics for a private sector-driven economy, build the local economy on international best practices, transform a passive oil industry to a more pro-active one and reposition the country along the lines of a more decentralized federalism. But beyond this, Nigeria is faced with management and leadership challenges to contend with building an efficient and effective polity, inspiring a shared vision, remodeling a corrupt polity, redefining the essentials of transformational leadership and creating Nigerian dream that will inspire patriotism and commitment in the citizenry.

Keywords: economic, economic growth, patriotism, polity, transformational

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Authors: Young Sik Kim, Tae Kwon Ha

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Russia was one of the world’s leading mineral- producing countries. In 2012, Russia was ranked among the world’s leading producers or was a leading regional producer of such mineral commodities as aluminum, arsenic, asbestos, bauxite, boron, cadmium, cement, coal, cobalt, copper, diamond, fluorspar, gold, iron ore, lime, magnesium compounds and metals, mica (flake, scrap, and sheet), natural gas, nickel, nitrogen, oil shale, palladium, peat, petroleum, phosphate, pig iron, platinum, potash, rhenium, silicon, steel, sulfur, titanium sponge, tungsten, and vanadium. Russia has large reserves of a variety of mineral resources and undoubtedly will continue to be one of the world’s leading mineral producers. Although the country’s economy is expected to grow in 2012, some problems are likely to remain. In 2011, the Russian economy returned to economic growth after the significant decline in 2010. According to some analysts, however, the recovery of 2011 did not appear sufficiently vigorous to carry the country’s strong economic growth into the next decade. Even in the sectors of the economy where the country is among the world leaders (ferrous metals, gas, petroleum), Russian industry has obsolete plants and equipment, a slow rate of innovation, and low labor productivity.

Keywords: Russia, energy resources, economic growth, strategy, oil complex

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Authors: Anna Paola Micheli, Anna Maria Calce, Loris Di Nallo

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Sustainable finance identifies the process that leads, in the adoption of investment decisions, to take into account environmental and social factors, with the aim of orienting investments towards sustainable and long-term activities. Considering that the topic is at the center of the interest of national agendas, long-term investments will no longer be analyzed only by looking at financial data, but environmental, social, and governance (ESG) factors will be increasingly important and will play a fundamental role in determining the risk and return of an investment. Although this perspective does not deny the orientation to profit, ESG mutual funds represent sustainable finance applied to the world of mutual funds. So the goal of this paper is to verify this attitude, in particular in the energy sector. The choice of the sector is not casual: ESG is the acronym for environmental, social, and governance, and energy companies are strictly related to the environmental theme. The methodology adopted leads to a comparison between a sample of ESG funds and a sample of ESG funds with similar characteristics, using the most important indicators of literature: yield, standard deviation, and Sharpe index. The analysis is focused on equity funds. Results that are partial, due to the lack of historicity, show a good performance of ESG funds, testifying how a sustainable approach does not necessarily mean lower profits. It is clear that these first findings do not involve an absolute preference for ESG funds in terms of performance because the persistence of results is requested. Furthermore, these findings are to be verified in other sectors and in bond funds.

Keywords: mutual funds, ESG, performance, energy

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Authors: Somayeh Bahrami, Seyed Jalal Dehghani Firoozabadi

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Environmental governance is an interdisciplinary concept in political ecology and environmental policy focusing on the necessity of embedding the environmental issues in all levels of decision-making and act of states. Similar to sustainable development the concept of environmental governance believes that economic and political life of societies and countries need to be considered as a subset of the environment. This concept has been accepted by North Countries, those that have done the most irreparable environmental damage since the Industrial Revolution. Although North Countries are more responsible for damage to the environment, considering the global fluidity logic of environmental challenges, such an impression doesn’t cause developing countries to disavow responsibility for regional and international cooperation to protect the environment. Establishing an environmental governance at all levels of local, national, regional and global is one of the most significant ways to improve sustainable development. Given to the various political and economic difficulties developing countries including the Middle East face, building environmental governance in these countries is difficult but feasible, as these difficulties have not impeded their mutual partnership for confronting joint environmental issues. However, the environmental issues wouldn’t be solved only by mutual partnership but by establishing environmental governance, establishing regional environmental institutions (an introduction to building Regional Environmental Governance) and delegation of some environmental authorities to the mentioned institutions. The research is aimed at examining necessities, opportunities, and barriers to establishing Regional Environmental Governance in the Middle East. Therefore, this research seeks to answer the question of whether establishing Regional Environmental Governance is possible in the Middle East and if so then why. This study used descriptive-analytical methods and the inferential methodology has been used to reach the goals. Data has been collected by using library and internet sources as well as news sources on the basis of objective-historical data.

Keywords: environmental democracy (ED), environmental governance (EG), middle east (ME), regional environmental governance (REG)

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Authors: Gulnaz Erkomaishvili, Eteri Kharaishvili, Marina Chavleishvili

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The paper discusses the economic policy of increasing national competitiveness, the tools, and means which help the country to improve its competitiveness. The sectors of the economy, in which the country can achieve a competitive advantage, are studied. It is noted that the country’s economic policy plays an important role in obtaining and maintaining a competitive advantage - authority should take measures to ensure a high level of education; scientific and research activities should be funded by the state; foreign direct investments should be attracted mainly in science-intensive industries; adaptation with the latest scientific achievements of the modern world and deepening of scientific and technical cooperation. Stable business environment and export-oriented strategy is the basis for the country’s economic growth. The studies have shown that institutional reforms in Georgia are not enough to significantly improve the country's competitiveness.

Keywords: competitiveness, economic policy, competitiveness improvement strategy, competitiveness of Georgia

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Authors: Mei-Se Chien, Chien-Chiang Lee, Sin-Jie Cai

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The main purpose of this paper is to investigate the long-run equilibrium and short-run dynamics of international housing prices when macroeconomic variables change. We apply the Pedroni’s, panel cointegration, using the unbalanced panel data analysis of 33 countries over the period from 1980Q1 to 2013Q1, to examine the relationships among house prices and macroeconomic variables. Our empirical results of panel data cointegration tests support the existence of a cointegration among these macroeconomic variables and house prices. Besides, the empirical results of panel DOLS further present that a 1% increase in economic activity, long-term interest rates, and construction costs cause house prices to respectively change 2.16%, -0.04%, and 0.22% in the long run. Furthermore, the increasing economic activity and the construction cost would cause stronger impacts on the house prices for lower income countries than higher income countries. The results lead to the conclusion that policy of house prices growth can be regarded as economic growth for lower income countries. Finally, in America region, the coefficient of economic activity is the highest, which displays that increasing economic activity causes a faster rise in house prices there than in other regions. There are some special cases whereby the coefficients of interest rates are significantly positive in America and Asia regions.

Keywords: house prices, macroeconomic variables, panel cointegration, dynamic OLS

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Authors: Ying Ge

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Wetlands are one of the essential types of ecosystems in the world. They are of great value to human society thanks to their special ecosystem functions and services, such as protecting biodiversity, adjusting hydrology and climate, providing essential habitats and, products and tourism resources. However, wetlands worldwide are degrading severely due to climate change, accelerated urbanization, and rapid economic development. Both nature and human factors drive wetland change, and the influences are variable from wetland types. Thus, the objectives of this study were to (1) to compare the changes in China’s wetland area during the three decades rapid growth period (1978-2008); (2) to analyze the effects of social economy and environmental factors on wetlands change (area loss and change of wetland types) in China during the high-speed economic development. The socio-economic influencing factors include population, income, education, development of agriculture, industry, infrastructure, wastewater amount, etc. Several statistical methods (canonical correlation analysis, principal component analysis, and regression analysis) were employed to analyze the relationship between socio-economic indicators and wetland area change. This study will determine the relevant driving socio-economic factors on wetland changes, which is of great significance for wetland protection and management.

Keywords: socioeconomic effects, China, wetland change, wetland type

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Authors: Vilem Paril, Dominika Tothova

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This paper discusses the value theory in cultural heritage and the value theory in environmental economics. Two economic views of the value theory are compared within the field of cultural heritage maintenance and within the field of the environment. The main aims are to find common features in these two differently structured theories under the layer of differently defined terms as well as really differing features of these two approaches, to clear the confusion which stems from different terminology as in fact these terms capture the same aspects of reality and to show possible inspiration these two perspectives can offer one another. Another aim is to present these two value systems in one value framework. First, important moments of the value theory from the economic perspective are presented, leading to the marginal revolution of (not only) the Austrian School. Then the theory of value within cultural heritage and environmental economics are explored. Finally, individual approaches are compared and their potential mutual inspiration searched for.

Keywords: cultural heritage, environmental economics, existence value, value theory

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Authors: Akunna Agunwah, Kevin Gallimore, Kathryn Kinmond

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Entrepreneurship is widely associated and seen as a vehicle for economic growth; however, different scholars have studied entrepreneurship from various perspectives, resulting in multiple definitions. It is surprising to know most entrepreneurship definition does not incorporate growth as part of their definition of entrepreneurship. Economic growth is engineered by the activities of the entrepreneurs. The purpose of the present theoretical study is to explore the working practices of the successful entrepreneurs towards achieving business growth by understanding the experiences of the entrepreneur using the Theory of Planned Behaviour (TPB) as a lens. Ten successful entrepreneurs in the North West of England in various business sectors were interviewed using semi-structured interview method. The recorded audio interviews transcribed and subsequently evaluated using the thematic deductive technique (qualitative approach). The themes were examined using Theory of Planned Behaviour to ascertain the presence of the three intentional antecedents (attitude, subjective norms, and perceived behavioural control). The findings categorised in two folds, firstly, it was observed that the three intentional antecedents, which make up Theory of Planned Behaviour were evident in the transcript. Secondly, the entrepreneurs are most concerned with achieving a state of freedom and realising their visions and ambitions. Nevertheless, the entrepreneur employed these intentional antecedents to enhance business growth. In conclusion, the work presented here showed a novel way of understanding the working practices and experiences of the entrepreneur using the theory of planned behaviour in qualitative approach towards enhancing business growth. There exist few qualitative studies in entrepreneurship research. In addition, this work applies a novel approach to studying the experience of the entrepreneurs by examining the working practices of the successful entrepreneurs in the North-West England through the lens of the theory of planned behaviour. Given the findings regarding TPB as a lens in the study, the entrepreneur does not differentiate between the categories of the antecedents reasonably sees them as processes that can be utilised to enhance business growth.

Keywords: business growth, experience, interpretive, theory of planned behaviour

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Authors: Sisaye Tamrat Ayalew

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In Ethiopia, the relationships between different communities have been characterized by mistrust, prejudice, and conflict, resulting in mass killings, displacement, and human rights violations. These relationships are mainly based on ethnic, religious, and linguistic lines, leading to a polarized society. The aim of this study is to appraise the nature of two major community relationships, namely the I-Thou relationship, characterized by genuine dialogue and mutual understanding, and the I-It relationship, characterized by a monologue and mutual suspicion. The study also aims to analyze how these two types of relationships contribute to either resolving or aggravating conflicts and building or deteriorating peace in Ethiopia. The study adopts a qualitative approach, specifically hermeneutics, to explore the nature of the I-Thou and I-It relationships in the Ethiopian context. It also examines how political elites shape these relationships within the community. The study finds that the dominant relationship in Ethiopian society is the I-It relationship, which is manifested as "com-animation." This relationship is characterized by mutual mistrust, prejudice, hostility, and misunderstanding. As a result, conflicts have arisen, leading to violence, displacement, and human rights violations. The study concludes that there is a need to shift from the I-It (com-animation) relationship to the I-Thou (communication) relationship in Ethiopian society. This shift would involve rethinking and readjusting societal relationships, especially among political elites, to foster genuine dialogue, mutual understanding, and lasting peace. It is imperative to overcome mutual mistrust, prejudice, and misunderstanding in order to resolve conflicts and build a harmonious society in Ethiopia. The study's findings and recommendations contribute to raising awareness among both Ethiopians and the international community on the potential for conflict resolution and peacebuilding through a shift in community relationships.

Keywords: dialogue, I-Thou relationship, I-It relationship, conflict resolution, building peace

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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: Ayşe Coban, Orhan Coban, Haldun Soydal, Sükrü Sürücü

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While health is a source of prosperity for individuals, it is also one of the most important determinants of economic growth for a country. Health, by increasing the productivity of labor, contributes to economic growth. Therefore, countries should give the necessary emphasis to health services. The primary aim of this study is to analyze the changes occurring in health services in Turkey by examining the developments in the sector. In this scope, the second aim of the study is to reveal the place of health expenditures in the Turkish economy. As a result of the analysis in the dataset, in which the 1999-2013 periods is considered, it was determined that some increase in health expenditures took place and that the increase in the share of health expenditures in GDP was too small. Furthermore, analysis of the results points out that in financing health expenditures, the public sector is prominent compared to the private sector.

Keywords: health, health service, health expenditures, Turkey

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Authors: Ibrahim Danjuma, Dahiru Dauda Hammawa

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Economic growth and development can be driven by entrepreneurial innovation. The Nigerian economy has faced numerous obstacles over the past few years, including the energy crisis, the death and winding up of many small and medium enterprises, high unemployment rates, and escalating inflation, amongst others. Entrepreneurial innovation has emerged as a potential catalyst for revitalizing the troubled economy and driving sustainable growth. Entrepreneurial innovation can revitalize key industries and foster job creation. This paper proposes significant options as key drivers to entrepreneurial innovation that can take the troubled Nigerian economy out of the woods. It also discusses the significance of government assistance and regulatory actions in fostering entrepreneurial creativity. It argues that initiatives such as funding support, infrastructure development, and regulatory reforms are necessary for fostering a vibrant entrepreneurial ecosystem in Nigeria in order to unlock the full potential of innovative entrepreneurs. Finally, the paper emphasizes the transformative power of entrepreneurial innovation in revamping the troubled Nigerian economy and calls for concerted efforts by all stakeholders to harness its potential for sustainable growth and development. By fostering a culture of innovation, fostering entrepreneurship, and supporting emerging ventures, Nigeria can overcome its economic challenges and pave the way for a prosperous future.

Keywords: entrepreneurial innovation, entrepreneurial ecosystem, troubled economy, Nigeria

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Authors: Olawale Johnson

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The cry and agitation for the creation of equal opportunities is one of the major reasons behind the social menace countries of the world experience. As the poor, continue to demand for the dividends of economic growth, countries of the world are in a state of dilemma because, despite impressive growth figures, the poor are still far below the empowerment line. However, evidence from the Asian Tigers has proven that with the adoption and efficient utilization of information technology, a growth miracle is not far-fetched. With the mind-boggling pace of technological innovation, the need to ensure that the innovative products are all connected has become vital. Technologies that did not exist a few years ago have become vital equipment used to underlie every aspect of our economy from medicine to banking to sports. The need to connect things sensors, actuators and smart systems with the aim of ensuring person-to-object, object-to-object communications has promoted the need of internet of things. As developing countries struggle with delivering inclusiveness, the Internet of Everything is perceived to be the miracle that will deliver this in no time. This paper examines how the Asian Tigers have been able to promote inclusive growth through the Internet of Everything.

Keywords: inclusive growth, internet of everything, innovation, embedded systems and smart technologies

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Authors: Jamila Garba Audu, Peter Adamu

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

Keywords: corruption, economic performance, forensic accounting, Nigeria

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Authors: Badri Gechbaia

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Adaptive management as a fundamental element of the concept of the assurance of economy`s sustainability to the economic security of the system-synergetic type has been considered. It has been proved that the adaptive sustainable development is a transitional phase from the extensive one and later on from the rapid growth to the sustainable development. It has been determined that the adaptive system of the strategic assurance of the sustainability of the economy to the economic security threats is formed on the principles of the domination in its complex of the subsystems with weightier adaptive characteristics that negate the destructive influence of external and internal environmental factors on the sustainability of the national economy.

Keywords: adaptive management, adaptive properties, economic security, strategic assurance

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Authors: Ujjwala Bhand, Mridula Goel

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Global Competitiveness Index (GCI) prepared by World Economic Forum has become a benchmark in studying the competitiveness of countries and for understanding the factors that enable competitiveness. Innovation is a key pillar in competitiveness and has the unique property of enabling exponential economic growth. This paper attempts to analyze how the pillars comprising the Global Competitiveness Index affect innovation and whether GDP growth can directly affect innovation outcomes for a country. The key objective of the study is to identify areas on which governments of developing countries can focus policies and programs to improve their country’s innovativeness. We have compiled a panel data set for top innovating countries and large emerging economies called BRICS from 2007-08 to 2014-15 in order to find the significant factors that affect innovation. The results of the regression analysis suggest that government should make policies to improve labor market efficiency, establish sophisticated business networks, provide basic health and primary education to its people and strengthen the quality of higher education and training services in the economy. The achievements of smaller economies on innovation suggest that concerted efforts by governments can counter any size related disadvantage, and in fact can provide greater flexibility and speed in encouraging innovation.

Keywords: innovation, global competitiveness index, BRICS, economic growth

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Authors: Ghada Abo-Zaid

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Introduction: Oil is one of the most income source in Bahrain. Low oil price influence on the economy growth and the investment rate in Bahrain. For example, the economic growth was 3.7% in 2012, and it reduced to 2.9% in 2015. Investment rate was 9.8% in 2012, and it is reduced to be 5.9% and -12.1% in 2014 and 2015, respectively. The inflation rate is increased to the peak point in 2013 with 3.3 %. Objectives: The objectives here are to build statistical models to examine the effect of the interest rate inflation rate on the growth economy in Bahrain from 2000 to 2018. Methods: This study based on 18 years, and the multiple regression model is used for the analysis. All of the missing data are omitted from the analysis. Results: Regression model is used to examine the association between the Growth national product (GNP), the inflation rate, and real interest rate. We found that (i) Increase the real interest rate decrease the GNP. (ii) Increase the inflation rate does not effect on the growth economy in Bahrain since the average of the inflation rate was almost 2%, and this is considered as a low percentage. Conclusion: There is a positive impact of the real interest rate on the GNP in Bahrain. While the inflation rate does not show any negative influence on the GNP as the inflation rate was not large enough to effect negatively on the economy growth rate in Bahrain.

Keywords: growth national product, egypt, regression model, interest rate

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

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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: Natnael Debalklie Teshome

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The purpose of the study was to empirically investigate the impacts of export performance and its volatility on economic growth in the Ethiopian economy. To do so, time-series data of the sample period from 1974/75 – 2017/18 were collected from databases and annual reports of IMF, WB, NBE, MoFED, UNCTD, and EEA. The extended Cobb-Douglas production function of the neoclassical growth model framed under the endogenous growth theory was used to consider both the performance and instability aspects of export. First, the unit root test was conducted using ADF and PP tests, and data were found in stationery with a mix of I(0) and I(1). Then, the bound test and Wald test were employed, and results showed that there exists long-run co-integration among study variables. All the diagnostic test results also reveal that the model fulfills the criteria of the best-fitted model. Therefore, the ARDL model and VECM were applied to estimate the long-run and short-run parameters, while the Granger causality test was used to test the causality between study variables. The empirical findings of the study reveal that only export and coefficient of variation had significant positive and negative impacts on RGDP in the long run, respectively, while other variables were found to have an insignificant impact on the economic growth of Ethiopia. In the short run, except for gross capital formation and coefficients of variation, which have a highly significant positive impact, all other variables have a strongly significant negative impact on RGDP. This shows exports had a strong, significant impact in both the short-run and long-run periods. However, its positive and statistically significant impact is observed only in the long run. Similarly, there was a highly significant export fluctuation in both periods, while significant commodity concentration (CCI) was observed only in the short run. Moreover, the Granger causality test reveals that unidirectional causality running from export performance to RGDP exists in the long run and from both export and RGDP to CCI in the short run. Therefore, the export-led growth strategy should be sustained and strengthened. In addition, boosting the industrial sector is vital to bring structural transformation. Hence, the government has to give different incentive schemes and supportive measures to exporters to extract the spillover effects of exports. Greater emphasis on price-oriented diversification and specialization on major primary products that the country has a comparative advantage should also be given to reduce value-based instability in the export earnings of the country. The government should also strive to increase capital formation and human capital development via enhancing investments in technology and quality of education to accelerate the economic growth of the country.

Keywords: export, economic growth, export diversification, instability, co-integration, granger causality, Ethiopian economy

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Authors: Firano Zakaria, Filali Adib Fatine

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The issue f convergence in theoretical models (classical or Keynesian) has been widely discussed. The results of the work affirm that most countries are seeking to get as close as possible to a steady state in order to catch up with developed countries. In this paper, we have retested this question whether it is absolute or conditional. The results affirm that the degree of convergence of countries like Morocco is very low and income is still far from its equilibrium state. Moreover, the analysis of financial convergence, of the countries in our panel, states that the pace in this sector is more intense: countries are converging more rapidly in financial terms. The question arises as to why, with a fairly convergent financial system, growth does not respond, yet the financial system should facilitate this economic convergence. Our results confirm that the degree of information exchange between the financial system and the economic system did not change significantly between 1985 and 2017. This leads to the hypothesis that the financial system is failing to serve its role as a creator of information in developing countries despite all the reforms undertaken, thus making the existence of an economic demon in the Maxwell prevail.

Keywords: economic convergence, financial convergence, financial system, entropy

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Authors: Ourvashi Bissoon

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Sub-Saharan Africa in addition to being resource rich is increasingly being seen as having a huge growth potential and as a result, is increasingly attracting MNEs on its soil. To empirically assess the effectiveness of GDP in tracking sustainable resource use and the role played by MNEs in Sub-Saharan Africa, a panel data analysis has been undertaken for 32 countries over thirty-five years. The time horizon spans the period 1980-2014 to reflect the evolution from before the publication of the pioneering Brundtland report on sustainable development to date. Multinationals’ presence is proxied by the level of FDI stocks. The empirical investigation first focuses on the impact of trade openness and MNE presence on the traditional measure of economic growth namely the GDP growth rate, and then on the genuine savings (GS) rate, a measure of weak sustainability developed by the World Bank, which assumes the substitutability between different forms of capital and finally, the impact on the adjusted Net National Income (aNNI), a measure of green growth which caters for the depletion of natural resources is examined. For countries with significant exhaustible natural resources and important foreign investor presence, the adjusted net national income (aNNI) can be a better indicator of economic performance than GDP growth (World Bank, 2010). The issue of potential endogeneity and reverse causality is also addressed in addition to robustness tests. The findings indicate that FDI and openness contribute significantly and positively to the GDP growth of the countries in the sample; however there is a threshold level of institutional quality below which FDI has a negative impact on growth. When the GDP growth rate is substituted for the GS rate, a natural resource curse becomes evident. The rents being generated from the exploitation of natural resources are not being re-invested into other forms of capital namely human and physical capital. FDI and trade patterns may be setting the economies in the sample on a unsustainable path of resource depletion. The resource curse is confirmed when utilising the aNNI as well, thus implying that GDP growth measure may not be a reliable to capture sustainable development.

Keywords: FDI, sustainable development, genuine savings, sub-Saharan Africa

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

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

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

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Authors: Sibo Lu, Zhongkai Qian

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This study endeavors to articulate a spectrum of capitalist transformation from a politico-economic perspective, categorizing the development of capitalism into pre-modern, modern, and post-modern stages while examining the transitions between these states. It critically engages with the concepts of pre-modernity, modernity, and post-modernity, typically aligned with cultural studies, to shed light on their objective changes in the politico-economic realm. Post-modernity, in this context, is associated with the transition to high-value-added services and economic growth in ‘developed’ countries amidst globalization, framing a ‘neoliberal’ economic transformation. The paper scrutinizes the neoliberal economic shifts in the latter half of the 20th century as part of the post-modern state, arguing against viewing post-modernity merely as a cultural or subjective interpretative stance. Instead, it is posited as a concrete politico-economic phase marked by the dominance of post-Fordist systems. Through integrating insights from the political economy with continental philosophy, this research provides a nuanced analysis of capitalism's evolution, challenging conventional class analyses under the capitalist system and fostering a broader understanding of socio-economic paradigms.

Keywords: post marxism, critical theory, political economy, capitalism transformation

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Authors: Marinete Araujo da Silva Fobister

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This presentation aims to discuss how the feeling of ‘nostalgia’ both present on Westerns and migrants could shed light to a mutual recognition and an exchange of ways of life that could enhance mutual possibilities of self-realization. It seems that this feeling of nostalgia is related to another unfolding of the nihilism of the death of God diagnosed by Nietzsche. Westerns are feeling on the margins of the values of their own culture as they feel such values as external to them. At the same time, some groups are claiming the return of the old devalued values. In this scenario, the West is receiving many migrants from different parts of the world since the second half of the last century. Migrants might be suffering from nostalgia or homesickness for having left their home. It might be that sharing a sense of nostalgia, although with different meanings, can bring together Westerns and migrants. Migrants bring ways of life that might be unknown and inexperienced in the West, and these can shed light to new forms of interpretation and cultivation of ones’ drives, and forces and this could become a source of mutual strength cultivation. Therefore, this mutual feeling of nostalgia could lead to ways of exploring the idea of self- realization in Nietzsche detaching it from the idea of being mainly individual to a more trans-individual-cultural claim. Nietzsche argues that nihilism is a European event here translated as a Western event, which would take 200 years until it could be overcome. To overcome nihilism a new kind of human would be needed, a creative and strong kind. For Nietzsche, there is not a fixed or true self, hence one possibility for one to achieve self-realization would reside on cultivating their multiple creative forces. The argument here is that in this recent unfolding of nihilism, translated in the sense of nostalgia, the encounter between the mainstream western immersed on nihilism with migrants could create a sense of a shared temporary home, where these different ways of life could inspire each other to create new meanings. Indeed, contributing to the expansion of one’s world view, drives and forces. Therefore, fertilizing the soil for the cultivation of self-realization and consequently the creation of new values.

Keywords: migration, nihilism, nostalgia, self-realization

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Authors: Ali Maji

Abstract:

Highway development is an important factor for economic growth and development in both developed and developing countries. In Nigeria about two-third of transportation of goods and persons are done through highway network. It was this that made highway investment to enjoy position of relative high priority on the list of government expenditure programmes in Nigeria today. The paper noted that despite expansion of public investment in highway construction and maintenance of them, road traffic accident is increasing rate. This has acted as a drain of human capital which is a key to economic growth and development in Nigeria. In order to avoid this, the paper recommend introduction of Highway Safety Education (HSE) in Nigerian’s education system and investment in train transportation among other as a sure measure for curtailing highway accident.

Keywords: accident rate, high way development, human capital, national development

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