Search results for: development of economy

Authors: O. Gubnitsyna, O. Zakoretskaya, O. Russova

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It is generally recognized that the main task of modern society is human development. The quality of human capital has been identified as a key driver of economic development in the region. In this article, considered the quality of human capital as one of the main types of social and economic potential for the region’s development. The phenomenon of human capital represents both material and intellectual components of human activity. It is show that the necessary population characterized by certain quantitative and qualitative indicators (qualification and professional structure, education or social general condition and others) and is an necessary resource for the development of the regional economy. The connection of the regional goals with the quality of human capital is discussed in the article and a number of recommendations on its improvement were given. Solving the tasks stated in the article, the authors used analytical and statistical methods of research, scientific publications of domestic and foreign scientists on this issue. The results can be used in this implementation of the concept of regional development.

Keywords: human capital, the quality of human capital, economic development, social general condition

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Authors: Sebastiana Viphindratin, Silvi Asna

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The under ground economy phenomenon is exist in Indonesia. There are some factors which affect the existence this underground economy activity. One of them is a hierarchy power structure that handles the underground economy existence. The example of the existence of underground economy is the occurring informal market in Indonesia. Malang city is one of the city which has this kind of market. Junk night market (JNM) as an underground economy activity is arising in that city. The JNM is located in Gatot Subroto Sidewalk Street. The JNM is a illegal market which sell thrift, antique, imitation and black market goods. The JNM is interesting topic to be discussed, because this market is running in long time without any policy from local government. The JNM activity has their own “power” that run the market rules. Thus, it is important to analyze how the existence and power structure of JNM actors community are in Malang city. This research using qualitative method with phenomenological approach where we try to understand the phenomenon and related actors deeply. The aim of this research is to know the existence and power structure of JNM actors community in Malang. In JNM, there is no any entry barriers and tax charge from Malang government itself. Price competition also occurs because the buyer can do a bargain with the seller. In maintaining buyer loyalty, the JNM actors also do pre-order system. Even though, this market is an illegal market but the JNM actors also give the goods guarantee (without legal contract) as a formal market. In JNM actor’s community, there is no hierarchy and formal power structure. The role in JNM is managed by informal leaders who come up from the trading activity problems that are sidewalk and parking area dividing. Therefore, can be concluded that even the JNM is illegal market but it can survive with natural market pattern. In JNM development, JNM has positive and negative impact for Malang city. The positive impact of JNM is this market can open a new employment but the negative impact is there is no tax income from that market. Therefore, suggested that the government of Malang city should manage and give appropriate policies in this case.

Keywords: junk night market (JNM), Malang city, underground economy, illegal

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Authors: Gechbaia Badri

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In the article, it is studied and realized the perfection issues of service sphere management in Georgia’s reality. As stated above, to transfer the country's economy onto marketing relationships, to form competitive dynamic market is dictated by the time and represents objective necessity. In the last period, the abruptly increasing of changes on science and education caused servicing sphere and producing skills, consumptions based on fields of places and changing role in a structure of the national economy. The main recourse in the new system of the economy became the intellectual capital. The economical progress is significantly determined by developing informational technologies. In the article, it is investigated the service problems of different fields of national economy and are given sentences to settle these problems.

Keywords: service management, service, paradigm, business and management engineering

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Authors: Marko Kolakovic

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Creative industries are an important sector of growth and development of knowledge economies. They have a positive impact on employment, economic growth, export and the quality of life in the areas where they are developed. Creative sectors include architecture, design, advertising, publishing, music, film, television and radio, video games, visual and performing arts and heritage. Following the positive trends of development of creative industries on the global and European level, this paper analyzes creative industries in general and specific characteristics of creative entrepreneurship. Special focus in this paper is put on the influence of the information communication technology on the development of new creative business models and protection of the intellectual property rights. One part of the paper is oriented on the analysis of the status of creative industries and creative entrepreneurship in Croatia. The main objective of the paper is by using the statistical analysis of creative industries in Croatia and information gained during the interviews with entrepreneurs, to make conclusions about potentials and development of creative industries in Croatia. Creative industries in Croatia are at the beginning of their development and growth strategy still does not exist at the national level. Statistical analysis pointed out that in 2015 creative enterprises made 9% of all enterprises in Croatia, employed 5,5% of employed people and their share in GDP was 4,01%. Croatian creative entrepreneurs are building competitive advantage using their creative resources and creating specific business models. The main obstacles they meet are lack of business experience and impossibility of focusing on the creative activities only. In their business, they use digital technologies and are focused on export. The conclusion is that creative industries in Croatia have development potential, but it is necessary to take adequate measures to use this potential in a right way.

Keywords: creative entrepreneurship, knowledge economy, business models, intellectual property

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Authors: Phusit Phukamchanoad

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This research aims to analyze the fundamental factors of the community leader and citizens behind the self-sufficient living in Vientiane, Lao People's Democratic Republic. The data were collected by asking 400 citizens to fill out the questionnaires and having in-depth interviews with 30 community leaders. It was found that the factors which had influenced the practice of the sufficiency economy philosophy were age, occupation, length of time living in Vientiane, education, monthly income, monthly expense, and the sufficiency economy philosophy training. The people who had been trained could practice the sufficiency economy philosophy better at both individual and household level than the people who had not been trained. The people who were older than 36 years old had practiced the sufficiency economy philosophy more than the people who were younger than 35 years old. The people who worked in state-owned enterprises, private businesses, and government officials: teachers, police officers, soldiers, and ministers applied the sufficiency economy philosophy more than the samples who were students. The people who lived in Vientiane for more than 31 years applied the sufficiency economy philosophy more than the samples who lived in Vientiane for not more than 30 years. The people whose incomes exceeded 20,001 baht applied the sufficiency economy philosophy more than the people whose incomes did not exceed 20,000 baht. Both community leaders and citizens had a good relationship with their families and community. The community members supported each other during tough times. There were regular meetings in the community. There was unity within the families. The time to build a bond in the family was the time when everyone was eating together. Also, most community leaders and citizens had at least two jobs per one person.

Keywords: sufficiency economy philosophy, fundamental factors, way of life, Vientiane Lao PDR

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Authors: Md. Qamruzzaman, Wei Jianguo

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Over the decade, it is observed that financial development, through financial innovation, not only accelerated development of efficient and effective financial system but also act as a catalyst in the economic development process. In this study, we try to explore insight about how financial innovation causes economic growth in Bangladesh by using Vector Error Correction Model (VECM) for the period of 1990-2014. Test of Cointegration confirms the existence of a long-run association between financial innovation and economic growth. For investigating directional causality, we apply Granger causality test and estimation explore that long-run growth will be affected by capital flow from non-bank financial institutions and inflation in the economy but changes of growth rate do not have any impact on Capital flow in the economy and level of inflation in long-run. Whereas, growth and Market capitalization, as well as market capitalization and capital flow, confirm feedback hypothesis. Variance decomposition suggests that any innovation in the financial sector can cause GDP variation fluctuation in both long run and short run. Financial innovation promotes efficiency and cost in financial transactions in the financial system, can boost economic development process. The study proposed two policy recommendations for further development. First, innovation friendly financial policy should formulate to encourage adaption and diffusion of financial innovation in the financial system. Second, operation of financial market and capital market should be regulated with implementation of rules and regulation to create conducive environment.

Keywords: financial innovation, economic growth, GDP, financial institution, VECM

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Authors: A. Buruzs, A. Torma

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The relationship of the automotive industry with raw material supply is a major challenge and presents obstacles. Automobiles are ones of the most complex products using a large variety of materials. Safety, eco-friendliness and comfort requirements, physical, chemical and economic limitations set the framework in which this industry continuously optimizes the efficient and responsible use of resources. The concept of circular economy covers the issues of waste generation, resource scarcity and economic advantages. However, circularity is already known for the automobile industry – several efforts are done to foster material reuse, product remanufacturing and recycling. The aim of this study is to give an overview on how the producers comply with the growing demands on one hand, and gain efficiency and increase profitability on the other hand from circular economy.

Keywords: automotive industry, circular economy, international requirements, natural resources

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Authors: Somnath Mukhuti, Prem Kumar Ghosh

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Background and significance of the study Indian stock market has undergone sudden changes after the current China crisis in terms of turnover, market capitalization, share prices, etc. The average returns on equity investment in both markets have more than three and half times after global financial crisis owing to the development of industrial activity, corporate sectors development, enhancement in global consumption, change of global financial association and fewer imports from developed countries. But the economic policies of both the economies are far different, that is to say, where Indian economy maintaining a conservative policy, Chinese economy maintaining an aggressive policy. Besides this, Chinese economy recently lowering its currency for increasing mysterious growth but Indian does not. But on August 24, 2015 Indian stock market and world stock markets were fall down due to the reason of Chinese stock market. Keeping in view of the above, this study seeks to examine the influence of Chinese stock on Indian stock market. Methodology This research work is based on daily time series data obtained from yahoo finance database between 2009 (April 1) to 2015 (September 28). This study is based on two important stock markets, that is, Indian stock market (Bombay Stock Exchange) and Chinese stock market (Shanghai Stock Exchange). In the course of analysis, the daily raw data were converted into natural logarithm for minimizing the problem of heteroskedasticity. While tackling the issue, correlation statistics, ADF and PP unit root test, bivariate cointegration test and causality test were used. Major findings Correlation statistics show that both stock markets are associated positively. Both ADF and PP unit root test results demonstrate that the time series data were not normal and were not stationary at level however stationary at 1st difference. The bivariate cointegration test results indicate that the Indian stock market was associated with Chinese stock market in the long-run. The Granger causality test illustrates there was a unidirectional causality between Indian stock market and Chinese stock market. Concluding statement The empirical results recommend that India’s stock market was not very much dependent on Chinese stock market because of Indian economic conservative policies. Nevertheless, Indian stock market might be sturdy if Indian economic policies are changed slightly and if increases the portfolio investment with Chinese economy. Indian economy might be a third largest economy in 2030 if India increases its portfolio investment and trade relations with both Chinese economy and US economy.

Keywords: Indian stock market, China stock market, bivariate cointegration, causality test

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Authors: Njeze Anthony

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In the world economy, entrepreneurship is an outstanding venture. Failures in the businesses of over 70% of Entrepreneurs can be attributed to lack of proper planning. For an entrepreneur to succeed, there are some vital planning strategies that will come into play such as organizational, operational, financial and marketing plans. When an entrepreneur lacks the above mentioned, such an entrepreneur is bound to encounter a catastrophic failure. An entrepreneur with an adequate plan will examine his/her own goals, know why he is in business, look at the venture resource base, have a sound knowledge of his proposed venture and identify obstacles that will be surmounted to achieve the desired goals. This work is aimed at identifying the organizational, operational, financial and marketing impact of entrepreneurship in the world economy and as well the important issues in global entrepreneurship, possible obstacles, and solutions.

Keywords: economy, entrepreneurship, business, operation

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Authors: Babak Mohajeri

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

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

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Authors: José M Martín-Moreno, Rafaela Pérez, Jesús Ruiz

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In this paper we use a small open economy Dynamic Stochastic General Equilibrium Model (DSGE) for the Spanish economy to search for a deeper characterization of the determinants of Spain’s macroeconomic fluctuations throughout the period 1970-2008. In order to do this, we distinguish between tradable and non-tradable goods to take into account the fact that the presence of non-tradable goods in this economy is one of the largest in the world. We estimate a DSGE model with supply and demand shocks (sectorial productivity, public spending, international real interest rate and preferences) using Kalman Filter techniques. We find the following results. First of all, our variance decomposition analysis suggests that 1) the preference shock basically accounts for private consumption volatility, 2) the idiosyncratic productivity shock accounts for non-tradable output volatility, and 3) the sectorial productivity shock along with the international interest rate both greatly account for tradable output. Secondly, the model closely replicates the time path observed in the data for the Spanish economy and finally, the model captures the main cyclical qualitative features of this economy reasonably well.

Keywords: business cycle, DSGE models, Kalman filter estimation, small open economy

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Authors: Benabdelaziz Soufyane

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The process of developing the activity of small and medium-sized enterprises(SME), and increasing the entrepreneurial sense, is becoming at the current period as one of the main bets, where many countries around the world try to give it the great importance because of their positive role in improving the economic development indicators in these countries. As a result of the sequential changes that international economic environment lives, the biggest global economic entities has become threatened because of different secretions financial crises and economic disorders. For this lots of countries tended to search for a mechanism to help it for creating new jobs and to spur the economy in order to face the foreign competition, fot this, we find the process of creating innovative entrepreneurial activity comes at the forefront of solutions for the purpose of achieving that. For the purpose of highlighting the role of this process and its future in the economy, this study seeks to consolidate the innovation’s concept and innovative entrepreneurship, then the success’s conditions of these entrepreneurships, to conclude with recommendations , solutions and important results.

Keywords: entrepreneurship, innovation, performance, vigilance, modernity, technology, business incubators

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Authors: Onyeke Paul Chuks

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Nigeria is ranked among the developing nations and a country with a low income per capita. The consequences of this economic situation have led to the low achievement records below UN benchmark especially in the area of basic education for her citizens. The country is, however, making relentless efforts at arresting the situation by making budgetary allocations to ensure the realization of Millennium Development Goal No. 2 which is achieving universal basic education, her distressed economy notwithstanding. Basic education which comprises primary and lower secondary education as well as pre-primary and/or adult literacy programs have suffered serious setbacks orchestrated by the dwindling of the nation’s economy. This category of education being the bedrock of all other levels of education is regarded as a priority by developing countries and also the focus of the Education for All Movement led by UNESCO. The introduction of child-friendly school model is one of the strategies designed by UNESCO to achieving this all important MDGs goal No. 2. Child-friendly education model is aimed at replacing the out-dated, mundane, regimented and officious school administrative model where the basic rights of school children are trampled upon with impunity and community participation in school activities is viewed as unnecessary interference by school managers. This paper ex-rayed the potential obstacles likely to impinge on the implementation of child-friendly school model in Nigeria especially from the angle of her distressed economy and the colossal effects of the corrupt practices bedeviling the nation. The paper as well outlines prospects for the successful implementation of the child-friendly school model in Nigeria.

Keywords: child-friendly school, distressed economy, model, Nigeria

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Authors: Denis Ushakov

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Fast growing international migration as a factor of labor globalization now is one of the most important trends of world economy and determinant of social-political transformations. Study of fundamental economical reasons for international migration is relevant due to their prognostic, predictable and normative potential, which can be used in conditions of global economic non-stability. This paper analyzes role of natural-resources, financial and labor factors in economic growth of the modern states; studies relationships between stimulating role of natural resources, finance and labor with levels of modern countries’ economy development. Based on achieved results, findings about fundamental reasons of international migration; transformation of labor factor’s role in providing an economical progress of the states; efficiency of positive impact of manufacturing factors (domestic and attracted from international markets) were offered.

Keywords: international migration, migrant, labor productivity, economy efficiency of migration, migration policy

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Authors: A. S. Salimzhanova, J. C. Sardinas, O. A. Yanovskaya

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The objective of this research work is to discuss the concept of green growth in the Republic of Kazakhstan introduced by its government in the National Sustainable Development Strategy with the objective of transition to a resource-efficient, green economy. We believe that emerging economies like Kazakhstan can pursue a cleaner and more efficient development path by introducing an environmental tax system based on resource consumption rather than only income and labor. The key issues discussed in this article are the eco-efficiency, which refers to closing the gap between economic and ecological efficiencies, and the structural change of the economy toward green growth. We also strongly believe that studying the experience of East Asian countries on green reform including eco-innovation and green solutions in business is essential to the case of Kazakhstan. All of these will raise the status of Kazakhstan to the level of one of the thirty developed countries over the next decades.

Keywords: economic strategy, green growth, green solutions, natural resource management, environmental tax system

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Authors: Mairaj Salim, Asma Zaheer

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

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

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Authors: Kuo-Wei Hsu, Wei-Chin Lo

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In these years, urban agriculture development has been wide spreading all over the world. The development of urban agriculture is an evolution process of highly urbanization, as well as an agricultural phenomenon closely related to the development of economy, society and culture in urban areas. It provides densely populated areas with multi-functional uses of land, impacting strategic development of both large and small towns in the area. In addition, the participation of social enterprises keeps industrial competitiveness and makes gains when facing rapid transformation of industrial structures and new patterns of lifestyles in urban areas. They create better living conditions as well as protect the environment with innovative business beliefs, which give new ways for development of urban agriculture. Also, through building up the value chain, these social enterprises are capable of creating value for urban agriculture. Most of research regarding to social enterprises currently explore the relationship between corporate responsibilities and its role play, operational mode and performance and organizational patterns. Merely some of them discuss the function of social entrepreneurship in the development of urban agriculture. Moreover, none of them have explored the value creation for development of urban agriculture processed by social enterprises, as well as how social enterprises operate to increase competitive advantages, which make it possible to achieve industrial innovation, increase corporate value and even provide services with value creation. Therefore, this research mainly reviews current business patterns and operational conditions of social enterprises. This research endowed social responsibilities, and discusses current development process of urban agriculture. This research adopts Value Chain perspective to discuss key factors for value creation with respect to the development of urban agriculture processed by social enterprises. Thereby after organization and integration this research develops the prospect of value creation referring to urban agriculture processed by social enterprises and builds the value chain for urban agriculture. In conclusion, this research explored the relationship between value chain and value creation, which relates to values of customer, enterprise, society and economy referring to the development of urban agriculture uniquely, in consideration of the participation of social enterprises, and hence built the connection between value chain and value creation in the development of urban agriculture by social enterprises. The research found, social enterprises help to enhance the connection between the enterprise value and society value, mold corporate image with social responsibility and create brand value, and therefore impact the increase of economic value.

Keywords: urban agriculture development, value chain, social enterprise, urban systems

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Authors: Oloniyo Kemisola Eunice, Odere Oladunni Oluwafeyikemi

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Technological change and globalization have created a new global economy with Information and Communication Technology (ICT) occupying a complex position in relation to globalization. The emergence of this new global economy has serious implications on the nature and purpose of educational institutions. The paper is basically a theoretical discourse. Data for analysis were obtained from secondary sources. The paper found that significant challenges confront the integration of ICTs in education in the areas of educational policy and planning, infrastructure, language and content, capacity building and financing in Nigeria. The paper concluded that business education needs to be well equipped to anticipate and respond to opportunities created by ICTs in order to participate productively and equitably in an increasingly technology-rich and knowledge-driven world. The paper recommended, among others, that the investments in ICTs should be used to promote the development of basic skills, problem-solving and communication skills and the professional development of teachers.

Keywords: information, communication, technology, business, education

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Authors: P. Okoro Ugo Chigozie, P. A. Igbojekwe, E. N. Ukabuilu

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Tourism and terrorism experiences are best viewed as dynamic, complex systems with extreme diverse consequences on any nation’s economy. Tourism is one of the biggest industries in the world and one of the economical sectors which grows rapidly; tourism has positive impact on the nation’s economy. Terrorism is the method or the theory behind the method whereby an organized group or party seeks to achieve its avowed aims chiefly through the systematic use of violence; the consequences of terrorism on tourist destinations are inescapable and can be profound. Especially, it threatens the attractiveness of a tourist destination and strips the competitiveness of that destination. Destination’s vulnerability to politically motivated violence not only retracts tourists, but threatens sustainable tourism development. This paper examines the activities of the Jamaata Ahlis Sunna Liddaawati -an Islamic sect popularly known as Boko Haram – and its impact on sustainable tourism development in the Nigeria state. Possible triggers of this insurgency and potentially evolving measure against its influence on sustainable tourism including, strong image management of the tourism industry, feasible tourist safety policy, viable anti-terrorism measures, proactive respond to the challenge of terrorism, reinforcement of the legitimate frameworks and irrevocable penalty against menace of corruption; are discussed in this paper, as limiting the effects of insurgency on the attractiveness of Nigeria as safe tourists destination.

Keywords: Nigeria, terrorism, sustainable tourism development, corruption and competitiveness

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Authors: Galuh Pramesti

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

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

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Authors: Blen Telayneh Melese

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Rural development, the unending quest of a developing country, cannot be succeeded in deprived of human capital development. Human capital, the economic pillars of a country's development, appeals a policy-based supports while fulfilling what is expected. Ethiopia, one of the rural countries with untouched and forgotten land and human force, owes historical experiences of educational policy intending for mobilization of its citizen for the advancement of the overall economy. Rural Ethiopia as well has been the focus of those educational policies, considering the economic resources entrenched with in. In this literature review paper, Ethiopian educational policy and its contribution to human capital development, as well as its role in generating quality human labor force, is assessed concisely. The author argues that the foundation of rural development such as technology, knowledge, infrastructure, market chain, communication and etc., can only be achieved through enhanced education policy that conciliates the existing reality of rural communities. Ethiopia still needs an education policy that enables it to generate a human capital that is oriented with the rural areas economic opportunities and challenges.

Keywords: Ethiopia, rural development, human capital development, education policy

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Authors: Shahna K. C., Belay Menon, Taniya Joshua

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As globalization in the era progresses, spatial inequality is turned to be one of the major concerns; the main intent of the Study is to focus on if there is any interdependencies of culture economy and resource availability on creating spatial inequality in cities. The paper tries to establish the relationship between spatial inequality – the quality of life – the DETERMINANT TRIAD (culture, economy, resource availability). Slum area of Dharavi is taken to evaluate the influence of these determinants on the quality of life as spatial inequality is evident there. Interdependencies of the determinants on creating spatial inequality is evaluated. For this, It is understood that these three parameters, i.e., culture, economy, resource availability, are determinants of urban design, each from the social, economic, environmental domains of sustainability, respectively. And there are studies individually on each of these aspects, how they determine the urban spaces, and how influential on the whole process of urbanization. Now extending the study towards the interdependencies of these three so as to find out how these trilogy shapes the urban form and space.

Keywords: spatial inequality, culture, economy, resource availability, quality of life

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Authors: Kwok Tak Kit

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The government and community have raised their awareness of the benefits of water reuse. Deforestation has a significant effect to climate change as it causes the drying out of the tropical rainforest and hence increases the chance of natural hazards. The loss of forests due to natural fire or human factors would be threatening the storage and supply of clean water. In this paper, we will focus on the discussion of the relationship of the natural water collection system, afforestation and country parks towards environmental sustainability and circular economy with a case study of water conservation policy and strategy in Hong Kong and Singapore for further research. The UN General Assembly launched the Water Action Decade in 2018 to mobilize action that will help to tackle the growing challenge of water scarcity through water conservation and protect and restore water-related ecosystems, including forests, wetlands, rivers, aquifers and lakes.

Keywords: afforestation, environmental sustainability, water conservation, circular economy, climate change, sustainable development goal

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Authors: Okpu Enoh Ndip Nkongho

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The type of political leadership in place impacts a state's economic development or underdevelopment directly and indirectly. One of the main challenges to Cameroon's economic development may be ineffective or misguided political leadership. The economy of the Cameroon state has declined significantly due to a number of factors, including a lack of effective and feasible economic policies, a reliance on crude oil that is excessive, tribal politics, the threat of insurgency, bribery, and corruption, violations of human rights, neglect of other sectors like science, technology, education, and transportation, and a careless attitude on the part of the administrators toward the general public. As a result, the standard of living has decreased, foreign exchange has decreased, and the value of the Cameroonian currency has depreciated. Therefore, from 2000 to 2023, this paper focused on the relationship between political leadership and economic development in Cameroon and offered suggestions for improving political leadership that will, in turn, lead to the country's economy getting back on track. The study employed a qualitative technique, with the framework for the investigation derived from the trait theory of leadership. According to the information provided above, the paper was able to conclude that there is a lack of cooperation between the three branches of government in Cameroon. This is shown in situations when one branch operates independently of the others and refuses to function as a backup when needed. The study recommended that the Executive collaborate closely with the National Assembly to speed action on some key legislation required to stimulate economic development. On the other hand, there is a need for more clarity and consistency in the government's policy orientation. There is no doubt that our current economic troubles are at least partially the result of a lack of economic policy leadership and confidence.

Keywords: politics, leadership, economic, development, Cameroon

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Authors: Mohammad Zaeimzade

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The development of communication technologies is clearly and rapidly moving towards reducing the distance between the virtual and real worlds. Of course, living in a two-spatial or two-globalized world or any other interpretation that means mixing real and virtual life is still relevant and debatable. In the present age of communication, where social networks have transformed the message equation and turned the audience out of passivity and turned into a user. Platforms have penetrated widely in various aspects of human life, from culture and education and economy. Among the messengers, Instagram, which is one of the most extensive image-based interactive networks, plays a significant role in the new economic life. It doesn't need much explanation that the era of thinking of every messenger as a non-insulating conductor that is just a neutral load has passed. Every messenger has its own economic, political and of course security background, Instagram is no exception to this rule and of course it leaves its effects in bio-economics as well. Iran, as the 19th largest economy in the world, has not been unaffected by new platforms, including Instagram, and their consequences in the economy. Generally, in the policy-making space, there are two simple and inflexible pessimistic or optimistic views on this issue, and each of the holders of these views usually have their own one-dimensional policy recommendations regarding how to deal with Instagram. Prescriptions that are usually very different and sometimes contradictory. In this article, we show that this confusion of policymakers is the result of not accurately describing the reality of its effect, and the reason for this inaccurate description is the existence of a conflict of interests in the eyes of describers and researchers. In this article, we first take a look at the main indicators of the Iranian economy, estimate the role of the digital economy in Iran's economic growth, then study the conflicting descriptions of the Instagram-based digital economy, the statistics that show the tolerance of economic users of Instagram in Iran. 300 thousand to 9 million have been estimated. Finally, we take a look at the government's actions in this matter, especially in the context of street riots in October and November 2022. And we suggest an intermediate idea.

Keywords: digital economy, instagram, conflict of interest, social networks

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Authors: Hashim Zameer

Abstract:

Effective tourism management plays a vital role in promoting sustainability and supporting ecosystems. A common principle that has been in practice over the years is “first pollute and then clean,” indicating countries need financial resources to promote sustainability. Financial development and the tourism management both seems very important to promoting sustainable development. However, without institutional support, it is very difficult to succeed. In this context, it seems prominently significant to explore how institutional quality, tourism development, and financial development could promote sustainable development. In the past, no research explored the role of tourism development in sustainable development. Moreover, the role of financial development, natural resources, and institutional quality in sustainable development is also ignored. In this regard, this paper aims to investigate the role of tourism development, natural resources, financial development, and institutional quality in sustainable development in China. The study used time-series data from 2000–2021 and employed the Bayesian linear regression model because it is suitable for small data sets. The robustness of the findings was checked using a quantile regression approach. The results reveal that an increase in tourism expenditures stimulates the economy, creates jobs, encourages cultural exchange, and supports sustainability initiatives. Moreover, financial development and institution quality have a positive effect on sustainable development. However, reliance on natural resources can result in negative economic, social, and environmental outcomes, highlighting the need for resource diversification and management to reinforce sustainable development. These results highlight the significance of financial development, strong institutions, sustainable tourism, and careful utilization of natural resources for long-term sustainability. The study holds vital insights for policy formulation to promote sustainable tourism.

Keywords: sustainability, tourism development, financial development, institutional quality

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Authors: Zheng Lulin, Xiong Guoping

Abstract:

In recent years, agriculture, rural development, and peasants are among the top concerns and priorities of the Chinese Government. Several related issues have been paid many attentions by academic communities, including the impacts of corresponding policies on the rural villages, the mechanisms of these impacts, and the future development of rural society. However, most of the researchers focus on single rural policy instead of integral rural policy system. Hence, this dissertation focused on the mechanisms of policies’ influence on rural changes through a case study from Changfu Village in central Guangxi Province, China, to propose the optimized suggestions for rural development. Forty-three relevant pivotal policies of significant influence on rural development are summarized from literature and documents, covering five aspects of agricultural production, rural living security, open rural markets, rural household registration systems, and farmland transferring. Besides, having been live in this area for more than 20 years, researchers obtain the basic information about changing the social connection between citizens and villagers, the habitat of villagers by years of informal interviews. Furthermore, more than 200 questionnaires are given to villagers to analyze the changing of their personal and family information. The summary of rural policies revealed that the development trend of public rural policies followed the U-shape curve and these policies are characterized by economic intentions and operative economy. Report of questionnaires and interviews show that the development of rural economy was promoted greatly by public policies. Firstly, Social communication and rural culture were affected to a certain extent. Secondly, the educational level of rural individuals was significantly enhanced, whereas the quality of population had limited progress. Finally, the freedom of occupational choice for rural individuals into cities was greater than before, but still restricted by the class solidification of social background, resulting in more obstacles for rural individuals to settle down in cities. From what we discuss about, we may reach the conclusion on several perspectives: Firstly, the impact of the rural policies has a significant role in promoting the economy development of the rural area. However, separations between rural and urban area are still a major problem since rural policy contributed little to improve the rural population quality. Therefore, in the future, providing high quality educational facilities including teachers, libraries, and opportunities of broadening their knowledge base are key issues of future rural policy. Secondly, the development of rural economy would be a lack of driving force for further improvement owning to the fact that working hard couldn’t get more improvement. In the future, public policies should support the rural development of culture, technology, and personal qualities to create favorable social environment for the free increase of rural population.

Keywords: changing of rural area, rural development of China, rural policy, social environment

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Authors: Kehinde Peter Oyeduntan, Kayode Oshinubi

Abstract:

Nigeria is referred as the ‘Giant of Africa’ due to high population, land mass and large economy. However, it still trails far behind many smaller economies in the continent in terms of maritime operations. As we have seen that the maritime industry is the spark plug for national growth, because it houses the most crucial infrastructure that generates wealth for a nation, it is worrisome that a nation with six seaports lag in maritime activities. In this research, we have studied how the Gross Domestic Product (GDP) of the maritime transport influences the Nigerian economy. To do this, we applied Simple Linear Regression (SLR), Support Vector Machine (SVM), Polynomial Regression Model (PRM), Generalized Additive Model (GAM) and Generalized Linear Mixed Model (GLMM) to model the relationship between the nation’s Total GDP (TGDP) and the Maritime Transport GDP (MGDP) using a time series data of 20 years. The result showed that the MGDP is statistically significant to the Nigerian economy. Amongst the statistical tool applied, the PRM of order 4 describes the relationship better when compared to other methods. The recommendations presented in this study will guide policy makers and help improve the economy of Nigeria in terms of its GDP.

Keywords: maritime transport, economy, GDP, regression, port

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Authors: Obaid Alotaibi

Abstract:

Tourism and recreation have become one of the important and influential sectors in most of the modern economies. This sector has been accepted as one of the alternative sources of national income, employment, and foreign exchange. Kuwait has many potentialities in tourism and recreation, and exploitation of this leads to more diversification of the economy besides augmenting its contribution to the GDP. It is an import-oriented economy; it requires hard currencies (foreign exchange) to meet the import costs as well as to maintain stability in the international market. To compensate for the revenue fall stemmed from fluctuations in oil prices -where the agriculture, fisheries, and industrial sectors are too immune and inelastic- the only alternative solution is the regeneration of the tourism and recreation to surface. This study envisages the characteristics of tourism and recreation, the economic and social importance for the society, the physical and human endowments, as well as the tourist pattern and plans for promoting and sustaining tourism in the country. The study summarizes many recommendations, including the necessity of establishing authority or a council for tourism, linking the planning of tourism development with the comprehensive planning for economic and social development in Kuwait in the shadow of 2035 vision, and to encourage the investors to develop new tourist and recreation projects.

Keywords: Kuwait, public-private, partnership, tourism, 2035 vision

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Authors: Yahya Jahangiri, Ali Almasi

Abstract:

Currently capitalism is one of the most important economic issues discussed by great scholars around the world. But Islamic approach, regarding this issue may differ both western and eastern views. A greatest scholar in Islamic economy ‘especially in Shia’ is Martyr Muhammad Baqir Al-Sadr. He wrote “Our economy” (Iqtisaduna) to present an economic point of view according to the Islamic teachings. In this regard firstly we will mention three approaches which are common in Muslim scullers about the economic science and then the main approach which is Sadr's view is described here. His claim explains that Islam and capitalism are in conflict with each other. And finally he explains the relationship between Islam and economy and he suggests the Islamic point of view in economy and its foundations as a solution for economic problems which we face today.

Keywords: Islam, economic science, capitalism, Martyr Sadr

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