Search results for: backward economies
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 688

Search results for: backward economies

688 Compromising Relevance for Elegance: A Danger of Dominant Growth Models for Backward Economies

Authors: Givi Kupatadze

Abstract:

Backward economies are facing a challenge of achieving sustainable high economic growth rate. Dominant growth models represent a roadmap in framing economic development strategy. This paper examines a relevance of the dominant growth models for backward economies. Cobb-Douglas production function, the Harrod-Domar model of economic growth, the Solow growth model and general formula of gross domestic product are examined to undertake a comprehensive study of the dominant growth models. Deductive research method allows to uncover major weaknesses of the dominant growth models and to come up with practical implications for economic development strategy. The key finding of the paper shows, contrary to what used to be taught by textbooks of economics, that constant returns to scale property of the dominant growth models are a mere coincidence and its generalization over space and time can be regarded as one of the most unfortunate mistakes in the whole field of political economy. The major suggestion of the paper for backward economies is that understanding and considering taxonomy of economic activities based on increasing and diminishing returns to scale represent a cornerstone of successful economic development strategy.

Keywords: backward economies, constant returns to scale, dominant growth models, taxonomy of economic activities

Procedia PDF Downloads 335
687 Backward Erosion Piping through Vertically Layered Sands

Authors: K. Vandenboer, L. Dolphen, A. Bezuijen

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Backward erosion piping is an important failure mechanism for water-retaining structures, a phenomenon that results in the formation of shallow pipes at the interface of a sandy or silty foundation and a cohesive cover layer. This paper studies the effect of two soil types on backward erosion piping; both in case of a homogeneous sand layer, and in a vertically layered sand sample, where the pipe is forced to subsequently grow through the different layers. Two configurations with vertical sand layers are tested; they both result in wider pipes and higher critical gradients, thereby making this an interesting topic in research on measures to prevent backward erosion piping failures.

Keywords: backward erosion piping, embankments, physical modeling, sand

Procedia PDF Downloads 355
686 The Comparison of Backward and Forward Running Program on Balance Development and Plantar Flexion Force in Pre Seniors: Healthy Approach

Authors: Neda Dekamei, Mostafa Sarabzadeh, Masoumeh Bigdeli

Abstract:

Backward running is commonly used in different sports conditioning, motor learning, and neurological purposes, and even more commonly in physical rehabilitation. The present study evaluated the effects of six weeks backward and forward running methods on balance promotion adaptation in students. 12 male and female preseniors with the age range of 45-60 years participated and were randomly classified into two groups of backward running (n: 6) and forward running (n: 6) training interventions. During six weeks, 3 sessions per week, all subjects underwent stated different models of backward and forward running training on treadmill (65-80 of HR max). Pre and post-tests were performed by force plate and electromyogram, two times before and after intervention. Data were analyzed using by T test. On the basis of obtained data, significant differences were recorded on balance and plantar flexion force in backward running (BR) and no difference for forward running (FR). It seems the training model of backward running can generate more stimulus to achieve better plantar flexion force and strengthening ankle protectors which leads to balance improvement in pre aging period. It can be recommended as an effective method to promote seniors life quality especially in balance neuromuscular parameters.

Keywords: backward running, balance, plantar flexion, pre seniors

Procedia PDF Downloads 124
685 FEM Investigation of Inhomogeneous Wall Thickness Backward Extrusion for Aerosol Can Manufacturing

Authors: Jemal Ebrahim Dessie, Zsolt Lukacs

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The wall of the aerosol can is extruded from the backward extrusion process. Necking is another forming process stage developed on the can shoulder after the backward extrusion process. Due to the thinner thickness of the wall, buckling is the critical challenge for current pure aluminum aerosol can industries. Design and investigation of extrusion with inhomogeneous wall thickness could be the best solution for reducing and optimization of neck retraction numbers. FEM simulation of inhomogeneous wall thickness has been simulated through this investigation. From axisymmetric Deform-2D backward extrusion, an aerosol can with a thickness of 0.4 mm at the top and 0.33 mm at the bottom of the aerosol can have been developed. As the result, it can optimize the number of retractions of the necking process and manufacture defect-free aerosol can shoulder due to the necking process.

Keywords: aerosol can, backward extrusion, Deform-2D, necking

Procedia PDF Downloads 137
684 University-Industry Technology Transfer and Technology Transfer Offices in Emerging Economies

Authors: José Carlos Rodríguez, Mario Gómez

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The aim of this paper is to get insight on the nature of university-industry technology transfer (UITT) and technology transfer offices (TTOs) activity at universities in the case of emerging economies. In relation to the process of transferring knowledge/technology in the case of emerging economies, knowledge/technology transfer in these economies are more reactive than in developed economies due to differences in maturity of technologies. It is assumed in this paper that knowledge/technology transfer is a complex phenomenon, and thus the paper contributes to get insight on the nature of UITT and TTOs creation in the case of emerging economies by using a system dynamics model of knowledge/technology transfer in these countries. The paper recognizes the differences between industrialized countries and emerging economies on these phenomena.

Keywords: university-industry technology transfer, technology transfer offices, technology transfer models, emerging economies

Procedia PDF Downloads 206
683 Numerical Study of Heat Transfer and Laminar Flow over a Backward Facing Step with and without Obstacle

Authors: Hussein Togun, Tuqa Abdulrazzaq, S. N. Kazi, A. Badarudin, M. K. A. Ariffin, M. N. M. Zubir

Abstract:

Heat transfer and laminar fluid flow over backward facing step with and without obstacle numerically studied in this paper. The finite volume method adopted to solve continuity, momentum and energy equations in two dimensions. Backward facing step without obstacle and with different dimension of obstacle were presented. The step height and expansion ratio of channel were 4.8mm and 2 respectively, the range of Reynolds number varied from 75 to 225, constant heat flux subjected on downstream of wall was 2000W/m2, and length of obstacle was 1.5, 3, and 4.5mm with width 1.5mm. The separation length noticed increase with increase Reynolds number and height of obstacle. The result shows increase of heat transfer coefficient for backward facing step with obstacle in compared to those without obstacle. The maximum enhancement of heat transfer observed at 4.5mm of height obstacle due to increase recirculation flow after the obstacle in addition that at backward. Streamline of velocity showing the increase of recirculation region with used obstacle in compared without obstacle and highest recirculation region observed at obstacle height 4.5mm. The amount of enhancement heat transfer was varied between 3-5% compared to backward without obstacle.

Keywords: separation flow, backward facing step, heat transfer, laminar flow

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682 Analysis of Backward Supply Chain in Beverages Industry of Pakistan

Authors: Faisal Mehmood

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In this globalization era, the supply chain management has acquired strategic importance in diverse business environments. In the current highly competitive business environment, the success of any business considerably depends on the efficiency of the supply chain. Management has now realized that due to the inefficiency of any member of supply chain, the profitability of the business will be affected. This paper proposes an analysis of backward supply chain in the beverages industry of Pakistan. Although reuse of products and materials is a common phenomenon, companies have long ignored this important part of the supply chain, known as backward supply chain or reverse logistics. The beverage industry is among the pioneers of backward supply chain or reverse logistics in Pakistan. The empty glass bottles are returned back from the point of consumption to the warehouse for refilling and reusability purposes. Due to the lack of information on reverse flow of logistics and more attention on the forward distribution, beverages industry in Pakistan is facing high rate of inefficiencies and ineffectiveness. Analysis of backward or reverse logistics practiced in beverages industry is the subject of this study in which framework dictating the current needs of market will be developed.

Keywords: backward supply chain, reverse logistics, refilling, re-usability

Procedia PDF Downloads 309
681 An Efficient Backward Semi-Lagrangian Scheme for Nonlinear Advection-Diffusion Equation

Authors: Soyoon Bak, Sunyoung Bu, Philsu Kim

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In this paper, a backward semi-Lagrangian scheme combined with the second-order backward difference formula is designed to calculate the numerical solutions of nonlinear advection-diffusion equations. The primary aims of this paper are to remove any iteration process and to get an efficient algorithm with the convergence order of accuracy 2 in time. In order to achieve these objects, we use the second-order central finite difference and the B-spline approximations of degree 2 and 3 in order to approximate the diffusion term and the spatial discretization, respectively. For the temporal discretization, the second order backward difference formula is applied. To calculate the numerical solution of the starting point of the characteristic curves, we use the error correction methodology developed by the authors recently. The proposed algorithm turns out to be completely iteration-free, which resolves the main weakness of the conventional backward semi-Lagrangian method. Also, the adaptability of the proposed method is indicated by numerical simulations for Burgers’ equations. Throughout these numerical simulations, it is shown that the numerical results are in good agreement with the analytic solution and the present scheme offer better accuracy in comparison with other existing numerical schemes. Semi-Lagrangian method, iteration-free method, nonlinear advection-diffusion equation, second-order backward difference formula

Keywords: Semi-Lagrangian method, iteration free method, nonlinear advection-diffusion equation, second-order backward difference formula

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680 Effect of Tube Backward Extrusion (TBE) Process on the Microstructure and Mechanical Properties of AZ31 Magnesium Alloy

Authors: H. Abdolvand, M. Riazat, H. Sohrabi, G. Faraji

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An experimental investigation into the Tube Backward Extrusion (TBE) process on AZ31 magnesium alloy is studied. Microstructures and grain size distribution of the specimens before and after TBE process are investigated by optical microscopy. Tensile and Vickers microhardness tests along extrusion direction were performed at room temperature. It is found that the average grain size is refined remarkably from the initial 33 µm down to 3.5 µm after TBE process. Also, the microhardness increased significantly to 58 HV after the process from an initial value of 36 HV.

Keywords: tube backward extrusion, AZ31, grain size distribution, grain refinement

Procedia PDF Downloads 459
679 Operator Splitting Scheme for the Inverse Nagumo Equation

Authors: Sharon-Yasotha Veerayah-Mcgregor, Valipuram Manoranjan

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A backward or inverse problem is known to be an ill-posed problem due to its instability that easily emerges with any slight change within the conditions of the problem. Therefore, only a limited number of numerical approaches are available to solve a backward problem. This paper considers the Nagumo equation, an equation that describes impulse propagation in nerve axons, which also models population growth with the Allee effect. A creative operator splitting numerical scheme is constructed to solve the inverse Nagumo equation. Computational simulations are used to verify that this scheme is stable, accurate, and efficient.

Keywords: inverse/backward equation, operator-splitting, Nagumo equation, ill-posed, finite-difference

Procedia PDF Downloads 23
678 Foreign Direct Investment and Its Impact on the Economic Growth of Emerging Economies: Does Ease of Doing Business Matter?

Authors: Mutaju Marobhe, Pastory Dickson

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This study explores the role of Foreign Direct Investment (FDI) in stimulating economic growth of emerging economies. FDIs have been associated with higher economic growth rates in developed countries due to the presence of conducive business conditions e.g. advanced financial markets which may accelerate the rate at which FDI boosts economic growth. So this study sets out to evaluate this macroeconomic phenomenon in emerging economies using the case study of Southern Africa Development Community (SADC) countries. The study uses Ease of Doing Business Index as a variable that moderates the relationship between FDI and economic growth. Panel data ranging from 2010 to 2019 from all SADC members are used and due to the unbalanced nature of the data, fixed effects regression analysis with moderation effect is used to assess this phenomenon. The conclusions and recommendations generated by this study will enable emerging economies to depict how they can be able to significantly improve FDI’s role in accelerating economic growth similarly to developed economies.

Keywords: ease of doing business, economic growth, emerging economies, foreign direct investment

Procedia PDF Downloads 113
677 On the Derivation of Variable Step BBDF for Solving Second Order Stiff ODEs

Authors: S. A. M. Yatim, Z. B. Ibrahim, K. I. Othman, M. Suleiman

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The method of solving second order stiff ordinary differential equation (ODEs) that is based on backward differentiation formula (BDF) is considered in this paper. We derived the method by increasing the order of the existing method using an improved strategy in choosing the step size. Numerical results are presented to compare the efficiency of the proposed method to the MATLAB’s suite of ODEs solvers namely ode15s and ode23s. The method was found to be efficient to solve second order ordinary differential equation.

Keywords: backward differentiation formulae, block backward differentiation formulae, stiff ordinary differential equation, variable step size

Procedia PDF Downloads 459
676 Development and Emerging Risks in the Derivative Market: A Comparison of Impact of Futures Trading on Spot Price Volatility and a Case of Developed, Emerging and Less Developed Economies

Authors: Rancy Chepchirchir Kosgey, John Olukuru

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This study examines the impact of introduction of futures trading on the spot price volatility in the commodity market. The paper considers the United States of America, South Africa and Ethiopian economies. Three commodities i.e. coffee, maize and wheat from New York Merchantile Exchange, South African Futures Exchange and Ethiopian Commodity Exchange are analyzed. ARCH LM test is used to check for heteroskedasticity and GARCH and EGARCH are used to check for the behavior of volatility between the pre- and post-futures periods. For all the three economies, the results indicate presence of the ARCH effect in the log returns. For conditional and unconditional variances; spot price volatility for coffee has decreased after futures trading in all the economies and the EGARCH has also shown reduction in persistence of volatility in the post-futures period in the three economies; while that of maize has reduced for the Ethiopian economy while there has been an increase in both the US and South African economies. For wheat, the conditional variance has been found to rise in the post-futures period in all the three economies.

Keywords: derivatives, futures exchange, agricultural commodities, spot price volatility

Procedia PDF Downloads 399
675 Effect of the Initial Billet Shape Parameters on the Final Product in a Backward Extrusion Process for Pressure Vessels

Authors: Archana Thangavelu, Han-Ik Park, Young-Chul Park, Joon-Hong Park

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In this numerical study, we have proposed a method for evaluation of backward extrusion process of pressure vessel made up of steel. Demand for lighter and stiffer products have been increasing in the last years especially in automobile engineering. Through detailed finite element analysis, effective stress, strain and velocity profile have been obtained with optimal range. The process design of a forward and backward extrusion axe-symmetric part has been studied. Forging is mainly carried out because forged products are highly reliable and possess superior mechanical properties when compared to normal products. Performing computational simulations of 3D hot forging with various dimensions of billet and optimization of weight is carried out using Taguchi Orthogonal Array (OA) Optimization technique. The technique used in this study can be used for newly developed materials to investigate its forgeability for much complicated shapes in closed hot die forging process.

Keywords: backward extrusion, hot forging, optimization, finite element analysis, Taguchi method

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674 A Study on Social and Economic Conditions of Street Vendors Using Field Survey Data

Authors: Ruchika Yadav

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Street vendors are the integral component of urban economies of the world. They are the distributors of affordable goods and services and provide convenient and accessible retail options to the customers and form a vital part of the social and economic life of a city. A street vendor as an occupation existed for hundreds of years and considered to be as a cornerstone of many cities. In this paper, our objective is to analyze the socio-economic profile of street vendors, identification of their problems and to suggest remedial measures for the betterment based on the observation and suggestions of the street vendors. To conduct this study, primary data has been collected with the help of field survey and direct questionnaire to the respondents in Aligarh City which contains all the information relevant to social and economic conditions. The overall analysis of this study reveals street vendors are the backward sections of the society possess medium to the low-level standard of living due to illiteracy; their working environment and social security issues are not addressed properly. They are unaware of many of the governmental schemes launched for poverty alleviation and their poor accessibility in basic amenities leads to the backward socio-economic status in the society. The results found in this study can be very useful and helping tool for the policymakers to know the socio-economic conditions of the street vendors in detail.

Keywords: abject poverty, socio-economic conditions, street vendors, vulnerability

Procedia PDF Downloads 101
673 Modification of Newton Method in Two Point Block Backward Differentiation Formulas

Authors: Khairil I. Othman, Nur N. Kamal, Zarina B. Ibrahim

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In this paper, we present modified Newton method as a new strategy for improving the efficiency of Two Point Block Backward Differentiation Formulas (BBDF) when solving stiff systems of ordinary differential equations (ODEs). These methods are constructed to produce two approximate solutions simultaneously at each iteration The detailed implementation of the predictor corrector BBDF with PE(CE)2 with modified Newton are discussed. The proposed modification of BBDF is validated through numerical results on some standard problems found in the literature and comparisons are made with the existing Block Backward Differentiation Formula. Numerical results show the advantage of using the new strategy for solving stiff ODEs in improving the accuracy of the solution.

Keywords: newton method, two point, block, accuracy

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672 Transition Economies, Typology, and Models: The Case of Libya

Authors: Abderahman Efhialelbum

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The period since the fall of the Berlin Wall on November 9, 1989, and the collapse of the former Soviet Union in December 1985 has seen a major change in the economies and labour markets of Eastern Europe. The events also had reverberating effects across Asia and South America and parts of Africa, including Libya. This article examines the typologies and the models of transition economies. Also, it sheds light on the Libyan transition in particular and the impact of Qadhafi’s regime on the transition process. Finally, it illustrates how the Libyan transition process followed the trajectory of other countries using economic indicators such as free trade, property rights, and inflation.

Keywords: transition, economy, typology, model, Libya

Procedia PDF Downloads 104
671 Productive Efficiency in Asean Banking

Authors: Suhartono Suhartono

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Issue of cost efficiency is then becoming pivotal point because public expect cost of banking operation reducing and benefited of consumers. This study examines the determinants of cost efficiency of banks operating in 8 member countries of the Association of Southeast Asian Nations (ASEAN). This study uses economics theory approach to examine the existence of economies of scale in the ASEAN Banking market especially on its impact on cost efficiency. We apply concept of average cost (AC) as a proxy for the cost efficiency. We find that economies of scale is existing in the banking market indicating scale and scope economies should be considered in the industrial policy. The stronger capital position is also positive to efficiency means stronger capitalized banks are more efficient. Bank that remunerates better tend to be more efficient as result economic capital effect.

Keywords: cost efficiency, ASEAN, economies of scale, issue of cost

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670 Evidence on Scale Economies in National Bank of Pakistan

Authors: Sohail Zafar, Sardar Javaid Iqbal Khan

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We use a parametric approach within a translog cost function framework to estimate the economies of scale in National Bank of Pakistan from 1997 to 2013. The results indicate significant economies of scale throughout the sample at aggregates and disaggregates taking in account size subject to stipulation ownership. The factor markets often produce scale inefficiencies in the banking of developing countries like Pakistan such inefficiencies are common due to distortion in factor markets leading to the use of inappropriate factor proportions. The findings suggest that National Bank of Pakistan diversify their asset portfolios that it has cost advantage, therefore, expansion in size should be encouraged under current technology because it appears to be cost effective. In addition, our findings support the implementation of universal banking model in Pakistan.

Keywords: scale economies, cost function, disaggregates, aggregates

Procedia PDF Downloads 286
669 An Evaluation of the Impact of International Accounting Standards on Financial Reporting Quality: Evidence from Emerging Economies

Authors: Kwadwo Yeboah

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Background and Aims: The adoption of International Accounting Standards (IAS) is considered to be one of the most significant developments in the accounting profession. The adoption of IAS aims to improve financial reporting quality by ensuring that financial information is transparent and comparable across borders. However, there is a lack of research on the impact of IAS on financial reporting quality in emerging economies. This study aims to fill this gap by evaluating the impact of IAS on financial reporting quality in emerging economies. Methods: This study uses a sample of firms from emerging economies that have adopted IAS. The sample includes firms from different sectors and industries. The financial reporting quality of these firms is measured using financial ratios, such as earnings quality, financial leverage, and liquidity. The data is analyzed using a regression model that controls for firm-specific factors, such as size and profitability. Results: The results show that the adoption of IAS has a positive impact on financial reporting quality in emerging economies. Specifically, firms that adopt IAS exhibit higher earnings quality and lower financial leverage compared to firms that do not adopt IAS. Additionally, the adoption of IAS has a positive impact on liquidity, suggesting that firms that adopt IAS have better access to financing. Conclusions: The findings of this study suggest that the adoption of IAS has a positive impact on financial reporting quality in emerging economies. The results indicate that IAS adoption can improve transparency and comparability of financial information, which can enhance the ability of investors to make informed investment decisions. The study contributes to the literature by providing evidence of the impact of IAS adoption in emerging economies. The findings of this study have implications for policymakers and regulators in emerging economies, as they can use this evidence to support the adoption of IAS and improve financial reporting quality in their respective countries.

Keywords: accounting, international, standards, finance

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668 Development of Variable Order Block Multistep Method for Solving Ordinary Differential Equations

Authors: Mohamed Suleiman, Zarina Bibi Ibrahim, Nor Ain Azeany, Khairil Iskandar Othman

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In this paper, a class of variable order fully implicit multistep Block Backward Differentiation Formulas (VOBBDF) using uniform step size for the numerical solution of stiff ordinary differential equations (ODEs) is developed. The code will combine three multistep block methods of order four, five and six. The order selection is based on approximation of the local errors with specific tolerance. These methods are constructed to produce two approximate solutions simultaneously at each iteration in order to further increase the efficiency. The proposed VOBBDF is validated through numerical results on some standard problems found in the literature and comparisons are made with single order Block Backward Differentiation Formula (BBDF). Numerical results shows the advantage of using VOBBDF for solving ODEs.

Keywords: block backward differentiation formulas, uniform step size, ordinary differential equations

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667 Establishment of Nursing School in the Backward Region of Nepal

Authors: Shyam lamsal

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Introduction: Karnali Academy of Health Sciences (KAHS) has been established in 2011, by an Act of parliament of Nepal, in Jumla, to provide health services in easy way in backward areas, to produce skilled health professionals & conduct research. The backward areas mentioned in act of KAHS are Humla, Jumla, Kalikot, Dolpa, Mugu districts of Karnali zone, Jajarkot district of Bheri zone & Bajura, Baghang & Achham districts of Seti zone in Nepal occupying around 25 % of the total national geography. Backward area of Nepal is specific to having worst health indicators with life expectancy (47 years), HDI (0.35), Literacy rate (58%), global acute malnutrition (13%), crude birth rate (33.6), crude death rate (9.6), Total fertility rate (4.2), infant mortality rate (61.5 per 1000 live births), under five mortality rate (59 per 1000 live births) and maternal mortality ratio (400 per 1000 live births). History of health facilities in backward region: All the nine districts of this region have a district hospital with very few grass root level health manpower. Government of Nepal regularly deploys one or two medical officers to each district who generally are not regular to their care. Jumla district itself was having one medical officer before the establishment of KAHS. Development activities: Establishment of 100 bedded specialty teaching hospital with 10 medical officers and five specialists, accredited its own nursing school for running diploma nursing programme, started “Karnali health survey” which covers 55 thousand households of backward region, started community care and school health camps, planning phase completed for 300 bedded teaching hospital construction. Future Plan: Expansion of the teaching hospital to 300 beds within 3 years, start health assistant and bachelor midwifery course in 2015 AD, start bachelor in laboratory and bachelor in public health course in 2016 AD and start MBBS course in 2018 AD. Deploy the medical officers and family physicians to all the district hospitals within 3 years. KAHS provides reservation up to 45% students from backward region with the commitment to stay for at least five years of their service period. Conclusion: This institution may be the example for the rest of the world in providing nursing care, education in remote areas as well as the best model for nursing manpower retention in remote areas of developing countries.

Keywords: backward area, nursing school

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666 Foreign Banks Taking More Risk: Evidence from Emerging Economies

Authors: Minghua Chen, Rui Wang

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This paper addresses the impact of foreign ownership on the risk-taking behavior of banks. Using bank-level panel data of more than 1,300 commercial banks in 32 emerging economies during 2000-2013, we find that foreign owned banks take on more risk than their domestic counterparts. We further examine several factors that may potentially contribute to foreign banks’ differentiated riskiness from four perspectives, namely, foreign banks’ informational disadvantages, agency problems, the contagious effect of parent banks’ financial conditions and the disparity between home and host markets. We find supportive evidence that these factors play a significant role in affecting foreign banks’ risk-taking.

Keywords: bank risk-taking, emerging economies, financial liberalization, foreign banks

Procedia PDF Downloads 407
665 Expanding Business Strategy to Native American Communities Using Experiential Learning

Authors: A. J. Otjen

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Native American communities are struggling with unemployment and depressed economies. A major cause is a lack of business knowledge, education, and cultural desire. And yet, in the history of the American West, Native Americans were considered the best traders and negotiators for everything from furs to weapons to buffalo. To improve these economies, there has been an effort to reintroduce that heritage to todays and tomorrows generation of tribal members, such Crow, Cheyenne, and Blackfeet. Professors at the College of Business Montana State University-Billings (MSUB) teach tribal students in Montana to create business plans. These plans have won national small business plan competitions. The teaching and advising method used at MSUB is uniquely successful as theses business students are now five time national champions. This article reviews the environment and the method of learning to achieve a winning small business plan with Native American students. It discusses the five plans that became national champions. And it discusses the problems and solutions discovered in the process of achieving results. Students who participated in this endeavor have graduated and become CPAs, MBAs, and gainfully employed in their chosen professions. They have also worked to improve the economies of their native lands and homes. By educating members of these communities with business strategy and plan development, they are better able to impact their own economies.

Keywords: entrepreneurship, native American economies, small businesses, unemployment

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664 NGO Social Entrepreneurship and Innovation Abroad: The Effects on Local Social Economies

Authors: Renee Nank

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Nongovernmental organizations that operate in other countries are, under American law, permitted to apply for and receive special tax status even when their programs and services are situated in other countries. NGO's are lauded as incubators for innovation as they typically tackle difficult problems that public and private organizations are unable or uninterested in addressing. Little research has been undertaken that explores both the extent of these organizations in number and reach, their impact on addressing local issues they seek to resolve, and their effect on local social economies - namely job creation. This study explores the landscape of these NGOs that are afforded tax benefits in the U.S., but operate in other countries, the degree to which they are entrepreneurial and innovate, and their effect on local social economies. This applies this lens to particular cases by exploring in greater depth several American NGO's operating in Mexico.

Keywords: civil society, nongovernmental organizations, social entrepreneurship, social economy, NGO innovation

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663 Financial Crises in the Context of Behavioral Finance

Authors: Nousheen Tariq Bhutta, Syed Zulfiqar Ali Shah

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Financial crises become a key impediment towards the development of countries especially in emerging economies. Based on standard finance, many researchers investigated the financial crises in different countries in order to find the underlying reason regarding occurrence these event; however they were unable to provide it. In this essence behavioral finance may be helpful in providing answers to some queries regarding occurrence and prevention of financial crises. In this paper, we explore the some psychological factors comprises of our inspiration, emotion, cognition and culture along with their reflection companies, financial markets and governments that present some supportive arguments. Moreover, we compared the views of Keynes and Minsky in order to validate the underling justification towards occurrence of financial crises and their prevention in future. This study helps the practitioners and policy makers through providing valuable recommendation in order to protect the economies.

Keywords: financial crises, behavioral finance, financial markets, emerging economies

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662 Macro Corruption: A Conceptual Analysis of Its Dimensions and Forward and Backward Linkages

Authors: Ahmed Sakr Ashour, Hoda Saad AboRemila

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An attempt was made to fill the gap in the macro analysis of corruption by suggesting a conceptual framework that differentiates four types of macro corruption: state capture, political, bureaucratic and financial/corporate. The economic consequences or forward linkages (growth, inclusiveness and sustainability of development) and macro institutional determinants constituting the backward linkages of each type were delineated. The research implications of the macro perspective and proposed framework were discussed. Implications of the findings for theory, research and reform policies addressing macro corruption issues were discussed.

Keywords: economic growth, inclusive growth, macro corruption, sustainable development

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661 What Does FDI Inflow Mean for Emerging African Economies?

Authors: E.George, P. Ojeaga, O. Matthew, A. Adekola

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Can foreign direct investment (FDI), promote growth in Africa? What does the inflow of investment hold for African emerging economies? Are the determinants of FDI different for different regional blocs in Africa? This study reviews the implication of FDI for different regional blocs in Africa. FDI was found to have a significant effect on growth in North Africa but had no significant effect in East, Southern and West Africa. FDI was also found not to be driving growth in the whole of Africa in a significant manner. The implications of the findings are that even though trade openness seems to be a major factor driving FDI. Poor domestic markets were still preventing many African economies from taking full advantage of the gains from foreign direct investment. The study results could be useful to scholars who study the dynamics surrounding FDI disbursement and strategies on how FDI can drive growth in developing countries.

Keywords: Africa, political economy, FDI, regional policy, markets

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660 Transitional Separation Bubble over a Rounded Backward Facing Step Due to a Temporally Applied Very High Adverse Pressure Gradient Followed by a Slow Adverse Pressure Gradient Applied at Inlet of the Profile

Authors: Saikat Datta

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Incompressible laminar time-varying flow is investigated over a rounded backward-facing step for a triangular piston motion at the inlet of a straight channel with very high acceleration, followed by a slow deceleration experimentally and through numerical simulation. The backward-facing step is an important test-case as it embodies important flow characteristics such as separation point, reattachment length, and recirculation of flow. A sliding piston imparts two successive triangular velocities at the inlet, constant acceleration from rest, 0≤t≤t0, and constant deceleration to rest, t0≤tKeywords: laminar boundary layer separation, rounded backward facing step, separation bubble, unsteady separation, unsteady vortex flows

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659 Food Security from a Spatial Perspective; The Situation in Advanced and Less Advanced Economies

Authors: Kristina Thorell

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Food security has been one of the most important policy issues on the global arena after the Second World War. The overall aim of this presentation is to describe preconditions for a sustainable food supply from a spatial perspective. Special attention is paid to the differences between advanced and less advanced economies around the world. The theoretical framework is based upon models which are explaining complex systems of factors that affect the preconditions for agricultural productions. In additions to this, theories about how population and environmental pollution change through different stages of societal development are explained. The results are based upon data of agricultural practices, population growth, hunger and nutrition levels from different countries around the world. The analysis shows that factors which affect preconditions for agricultural production are dynamic. Factors which support the food security in the near future are a decreasing population growth, technological development and innovation but the environmental crisis is associated to high risks. It is, therefore, important to develop environmental policies and improved methods for organic farming. A final conclusion is that the spatial pattern is clear; the food supply is sufficient within advanced economies but rather complicated in development countries.

Keywords: food security, agricultural geography, demography, advanced economies, population growth, agricultural practices

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