Search results for: economic incentive

Authors: G. Sarwar, C. Mateus, N. Todorovic

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The paper examines the asymmetries in size, value and momentum premium over the economic cycles in the UK and their macroeconomic determinants. Using Markov switching approach we find clear evidence of cyclical variations of the three premiums, most noticeably variations in size premium. We associate Markov switching regime 1 with economic upturn and regime 2 with economic downturn as per OECD’s Composite Leading Indicator. The macroeconomic indicators prompting such cyclicality the most are interest rates, term structure and credit spread. The role of GDP growth, money supply and inflation is less pronounced in our sample.

Keywords: macroeconomic determinants, Markorv Switching, size, value

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Authors: G. T. Aigarinova

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This article considers the legal issues of food security as a major component of national security of the republic. The problem of food security is the top priority of the economic policy strategy of any state, the effectiveness of this solution influences social, political, and ethnic stability in society. Food security and nutrition is everyone’s business. Food security exists when all people, at all times, have physical, social and economic access to sufficient safe and nutritious food that meets their dietary needs and food preferences for an active and healthy life. By analyzing the existing legislation in the area of food security, the author identifies weaknesses and gaps, suggesting ways to improve it.

Keywords: food security, national security, agriculture, public resources, economic security

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Authors: Gul Ghutai, Nouman Khan Kakar

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Interest-Based Debt Disturbs The Financial, Social And Economic Structure Of The Country, Due To Which Sustainable Development Of The Masses Is Undermined. Such As, In Pakistan, The State’s Reliance Upon Interest-Based Debt (Both Foreign And National Levels) Affects The Socio-Economic Fabrication Of The Country, Thus Undermining The Sustainable Development Of Its Residents. The Objective Of The Study Is To Analyze The Effect Of Interest-Based Debt Financing On The Well-Being Of The Masses In Pakistan. The Question Arises Whether Interest-Based Debt Financing Undermines The Sustainable Development Of The Masses Of Pakistan Or Not. Moreover, Qualitative Research Methodology Is Pursued Towards Building A Conceptual Framework By Applying An Inductive Paradigm. It Is Expected That Interest-Based Debt, Whether Acquired From Foreign Or National Institutions By The Government Of Pakistan, Undermines The Sustainable Economic Growth Of The Country. However, The State Of Pakistan Is Under A Constitutional Obligation To Attain Sustainable Development Of Its Residents In Compliance With Islamic Shariah So That Eradication Of Interest From The Economy Of Pakistan Can Be Witnessed So That The Residents Of Pakistan Can Be Served To Attain Socio-Economic Well-Being Both Tangibly And Intangibly.

Keywords: socio-economic wellbeing, residents, sustainable development, interest-based debt

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Authors: Saeed Anwar

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Foreign aid has long been a prominent tool in the pursuit of economic development in recipient countries. This research paper aims to analyze the impact of foreign aid on economic development and explore the effectiveness of aid in promoting sustainable growth, poverty reduction, and improvements in human development indicators. Drawing upon a comprehensive review of existing literature, both theoretical frameworks and empirical evidence are synthesized to provide insights into the complex relationship between foreign aid and economic development. The paper examines various channels through which foreign aid influences economic development, including infrastructure development, education and healthcare investments, technology transfer, and institutional capacity building. It explores the potential positive effects of aid in stimulating economic growth, reducing poverty, and enhancing human capital formation. Additionally, it investigates the potential challenges and limitations associated with aid, such as aid dependency, governance issues, and the potential crowding out of domestic resources. Furthermore, the study assesses the heterogeneity of aid effectiveness across different types of aid modalities, recipient country characteristics, and aid allocation mechanisms. It considers the role of aid conditionality, aid fragmentation, and aid targeting in influencing the effectiveness of aid in promoting economic development. The findings of this research contribute to the ongoing discourse on foreign aid and economic development by providing a comprehensive analysis of the existing literature. The study highlights the importance of context-specific factors, recipient country policies, and aid effectiveness frameworks in determining the impact of foreign aid on economic development outcomes. The insights derived from this research can inform policymakers, donor agencies, and practitioners in designing and implementing effective aid strategies to maximize the positive impact of foreign aid on economic development.

Keywords: foreign aid, economic development, sustainable growth, poverty reduction, human development indicators, infrastructure development, education, healthcare, technology transfer, institutional capacity building, aid effectiveness, aid dependency, governance, crowding out, aid conditionality, aid fragmentation, aid targeting, recipient country policies, aid strategies, donor agencies, policymaking

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Authors: Aroona Hashmi

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An economic recession can lead people to feel more insecure about their financial situation. The series of events leading into a recession can be especially distressing for Educated Youth. One of the most salient factors linking economic recession to psychological distress is unemployment. It is proved that a large number of educated young people are facing higher unemployment rate in Pakistan. Young people are likely to get frustrated at the lack of opportunities made available to them. If the young population increases more rapidly than job opportunities, then number of unemployment is likely to increase. The aim of present study was to investigate the relationship between economic instability, growing rate of aggression and frustration among educated youth. The study aimed to find out the impact of increased economic instability on the learning abilities of the students. Data was gathered from six university students of Punjab, Pakistan. The sample of the study consisted of three hundred male and female university students. The data was analyzed by applying Chi -square test. The results of the research indicate that there is a significant relationship between low household income and growing rate of aggression among educated youth. The increasing trend of economic instability significantly influences the learning abilities of the students. The study concludes that feeling of deprivation produce frustration and could be expressed through aggression. Therefore, if factors that are responsible for youth unemployment in Pakistan are addressed, psychological effects will be reduced. The right way of tackling the youth bulge is to turn the youth into a productive workforce. There is a dire need to transform the education system to societal needs. At the same time creating demand for the young workforce is achieved through dynamic changes in the economic structure.

Keywords: psychological effects, economic recession, educated youth, environmental factors

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Authors: Khomsan Laosillapacharoen

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This research paper was aimed to analyze the current situation of the furniture industry and embark a plan to enhance the export volume of Thai furniture. This is a qualitative research which utilized meta-analysis and focus group. A total of 24 experts in both government and private sectors were interviewed. The findings revealed that Thai furniture had some advantages of access to raw material, high quality of labors, and have a unique skill. However, the threat included a tendency to have more foreign competitors in domestic market. In addition, the strategies to enhance the level of export included increase the standard quality of Thai furniture, offer new and modern designs, use marketing on the internet, use modern technology, and gain tax incentive from the government.

Keywords: export, furniture, strategies, marketing

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Authors: Sadife Güngör, Sevilay Konya

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Sustainable development is an economic development scope which covers the economic growth included environmental factors. With the help of economic development, the needs of the future generations are going to be met the needs. As it is aimed the environmental conscious, sustainable development focuses on decreasing the damage of natural sources. From this point of view, while sustainable development is environmentally conscious, it also improving the life standards of individuals. The relationship between development and foreign trade on sustainable development is theoretically searched in this study. In the second part, sustainable development at world and EU is searched and in the last part, the sustainability of trade and development in Turkey is stated.

Keywords: development, sustainable development, foreign trade, Turkey

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Authors: Sushma Ghildyal, Sanjay Kumar Singh

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The present study was undertaken with the purpose to understand the relationship of lifestyle and Socio-Economic status with child obesity among 1000 boys aged from 16 to 18 years of Varanasi District of Uttar Pradesh State in India. The study was conducted in both urban and rural area of the District. Ten schools i.e. five from urban area and five from rural area were selected by using purposive sampling. Healthy boys of class 10th, 11th and 12th were taken as subjects for the study. Prior consent was obtained from school authority. Anthropometric measurements were taken from each subject. Anthropometric measurements were Standing Height, Weight, Biceps skin folds, Triceps skin folds, Sub-scapular skin folds and Supra-iliac skin folds taken by Lange’s skin fold caliper. Lifestyle and Socio-Economic Status were obtained by questionnaires. In order to assess the BMI, Body fat %, Lifestyle and Socio-Economic Status; descriptive analyses were done. To find out the significant association of obesity with lifestyle and Socio-Economic Status Chi-square test was used. To find out significant difference between obesity of Urban and Rural children t-test was applied. Level of significance was set at 0.05 level. The conclusions drawn were: (1) The result showed that in urban area Varanasi District of Uttar Pradesh 0.6% children were in very high level adaptive lifestyle, 6.2% were in high level adaptive lifestyle, 25.4% above average level adaptive lifestyle, 47.8% moderately adaptive lifestyle, 3.6% and 0.4% low and very low level adaptive lifestyle. (2) In rural area Varanasi District of Uttar Pradesh 0.00% children were in very high level adaptive lifestyle, 9.4% were in high level adaptive lifestyle, 24.8% average level adaptive lifestyle, 47.0% moderately adaptive lifestyle, 15.2% below average and 3.0% very low level adaptive lifestyle.(3) In urban area 12.8% were in upper class Socio-Economic Status, 56.6% in upper middle class Socio-Economic Status, 30.2% in middle class Socio-Economic Status and 0.2% in lower middle class Socio-Economic Status. (4) In rural area 1.4% were in upper class Socio-Economic Status, 15.2% in upper middle class Socio-Economic Status, 51.6% in middle class Socio-Economic Status and 0.8% in lower middle class Socio-Economic Status. (5) In urban area 21.2% children of 16-18 years were obese. (6) In rural area 0.2% children of 16-18 years were obese. (7) In overall Varanasi District of Uttar Pradesh 10.7% children of 16-18 years were obese. (8) There was no significant relationship of obesity with Lifestyle of urban area children of 16-18 years. (9) There was significant relationship of obesity with Socio-Economic Status of urban area children of 16-18 years (10) There was no significant relationship of obesity with Lifestyle of rural area children of 16-18 years of Varanasi District Uttar Pradesh. (11) There was significant relationship of obesity with Socio-Economic Status of rural area children of 16-18 years. (12) Results showed significant difference between urban and rural area children of 16-18 years in respect to obesity of Varanasi District of Uttar Pradesh.

Keywords: lifestyle, obesity, rural area, socio-economic status, urban area

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Authors: C. Vrekos, C. Evagelides, N. Samarinas, G. Arampatzis

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As known, the water energy is a renewable and clean source of energy. Energy production from hydropower has been the first, and still is today a renewable source used to generate electricity. The optimal location and sizing of a small hydropower plant is a very important issue in engineering design which encourages investigation. The aim of this paper is to present a formula that can be utilized for locating the position of a small hydropower plant although there is a high dependence on economic, environmental, and social parameters. In this paper, the economic and technical side of the problem is considered. More specifically, there is a critical terrain slope that determines if the plant should be located at the end of the slope or not. Of course, this formula can be used for a first estimate and does not include detailed economic analysis. At the end, a case study is presented for the location of a small hydropower plant in order to demonstrate the validity of the proposed formula.

Keywords: critical terrain slope, economic analysis, hydropower plant locating, renewable energy

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Authors: M. G. Shilina

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

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

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Authors: George McMillan

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This paper introduces the methodology to create a baseline equation for the philosophical and social sciences in the behavioral-political-economic-demographic sequence. The two major ideological political-economic philosophies (Hume-Smith and Marx-Engels) are systematized into competing integrated three dimensional behavioral-political-economic models. The paper argues that Hume-Smith’s empathy-sympathy behavioral assumptions are a sufficient starting point to create the integrated causal model sought by Tooby and Cosmides. The author then shows that the prerequisite advances in psychology and demographic studies now exist to generate the universal economic theory sought by von Neumann-Morgenstern and the integrated behavioral-economic method of Gintis—a psychological (i.e., behavioral) socio-economic model. By updating Hume-Smith’s work with a modern understanding of psychology, as presented by Fromm and others, a new integrated societal model as postulated by Harsanyi can be created that intertwines the social and psychological sciences. The author argues that this fundamentally psychology-based model also can serve as a baseline equation for all social sciences as desired by Kant and Mach, as well as the ahistorical (psychological) philosophic model noted by Husserl, Heidegger, Tillich, and Strauss. The author concludes with a discussion of the necessary next steps to generating a detailed model that fuses these disciplines.

Keywords: Unified Social Theory

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Authors: Giuseppe Maria Russo, Patrícia Amélia Tomei, Antônio Linhares, André Moreira Santos

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Alignment between management strategies, policies and practices with organizational cultures holds great potential to meet the challenges of retaining professionals and maintaining their commitment. In this article, authors consider that when it is aligned with company strategy, compensation acts as an incentive for developing common visions within the organizational culture. This article verified the correlation between types of culture and compensation’s strategic components and provided inputs for the definition of strategies aligned with cultural typologies. We conclude that the impact of compensation variables varies according to the type of organizational culture. This result reinforces the theory that different cultures define different organizational strategies. Thus, compensation strategies may explain types of organizational culture.

Keywords: compensation, Handy’s cultural typology, organizational culture, rewards

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Authors: Wen Chiat Lee, K. Kuperan Viswanathan

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Illegal, Unreported and unregulated (IUU) fishing brings great losses to the economies of the fishing nations. Understanding the reasons contributing to IUU fishing is crucial in reducing it. Economic, institutional and social factors are key drivers of IIU fishing. The economic factor is the main contributor to IUU fishing. The two possible ways to curb the IUU fishing is highlighted. One way is to reduce the revenue from IUU fishing and another way is to increase the cost of IUU fishing. There are three costs of IUU fishing that can be increased namely the operating, capital and risk costs. Approaches for reducing the economic rent or profit from IUU fishing are developed and directions for reducing IUU fishing are also suggested. Improved registration of fishing vessels, preventing entry of illegal fish products and most importantly, developing co-management of fisheries are the ways forward for reducing IUU fishing. All governments in ASEAN must work in tandem with the stakeholders involved such as fishers, fishermen agencies or associations to exchange information for reducing the transaction cost of IUU fishing.

Keywords: Illegal, unreported and unregulated (IUU) fishing, co-management, fisheries management, economic rent framework

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Authors: S. Avdasheva, D. Tsytsulina

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In many regulated industries over the world price cap as a method of price regulation replaces cost-plus pricing. It is a kind of incentive regulation introduced in order to enhance productive efficiency by strengthening sellers’ incentives for cost reduction as well as incentives for more efficient pricing. However pricing under cap is not neutral for competition in the market. We consider influence on competition on the markets where benchmark for cap is chosen from when sellers are multi-market. We argue that the impact of price cap regulation on market competition depends on the design of cap. More specifically if cap for one (regulated) market depends on the price of the supplier in other (non-regulated) market, there is sub-type of price cap regulation (known in Russian tariff regulation as ‘netback minus’) that enhance incentives to collude in non-regulated market.

Keywords: price regulation, competition, collusion

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Authors: Lina Sinevičienė

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Arising problems of countries’ public finances, social and demographic changes motivate scientific and policy debates on public spending size, structure and efficiency in order to meet the changing needs of society and business. The concept of sustainable development poses new challenges for scientists and policy-makers in the field of public finance. This paper focuses on the investigation of the relationship between government expenditure and country’s economic development in the context of sustainable development. Empirical analysis focuses on the data of the European Union (except Croatia and Luxemburg) countries. The study covers 2003 – 2012 years, using annual cross-sectional data. Summarizing the research results, it can be stated that governments should pay more attention to the needs that ensure sustainable development in the long-run when formulating public expenditure policy, particularly in the field of environment protection.

Keywords: economic development, economic growth, government expenditure, sustainable development

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Authors: Odeh Ibn Iganga

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The issue of foreign debt, debt crisis or the concept of Third World debt burden generally gained prominence after the end of the cold war which pitched the United States and the former Soviet Union against each other in an ideological supremacy tussle. Before then however, Third World Countries (TWCs) enjoyed a relative economic resilience and stability and ostensibly friendly relations with the leaders of the polarized blocks in a way to garner supports for, and as an instrument of strengthening and expanding influence and power of the leaders of the two blocs, and achieve their goals. Consequently, the Third World concept lost its political relevance and usage perhaps, too, its economic comportment, and eventually became phraseology synonymous with developing countries bedeviled with debt crisis and struggling to emerge from debt burden, economic underdevelopment and poverty. Since then, also, particularly during the last two decades, the issue of Third World debt burden, which is currently posing significant problems, has a considerable attracted public policy and academic scrutiny. Third World debt burden thus is not a recent phenomenon but is a result of, and due to, pursuance of foreign aid from countries of the North which had, from the start, created the condition of economic subservience and master-servant relationship that could generate persistent seeking and lobbing for foreign aids through borrowing, thus tying down in a perpetual manner, most of the Third World Countries to underdevelopment, dependency and poverty. The interest of this paper, therefore, is to examine the causes, costs and or the implications of the debt burden on the economies of the Third World Countries, review some general solutions to the debt burden as well as offering suggestions as a way out of the doldrums.

Keywords: third world, debt burden, debt crisis, economic development and underdevelopment

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Authors: Chia-Chi Cheng

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After the implementation of “the internet plus,” several puzzles emerge as below: why does China impose more regulation and laws on economic development on the Internet? Why does China urge the importance of manufacturing industry? Why does China’s local government passively implement the policy imposed by the central government? What kind of factors can influence China’s local government’s economic preference? In the framework of neo-institutionalism, this research considers China’s local government as changing agents to analyze its preferences and behavior. In general, the interests urged by the local government will decide its preference and behaviors. They will change its counterpart to cooperate if the change will bring more benefits. Thus, they will change its preference and behavior while the external environment alters. While the local government has the same definition on political activity and economic interest, they will prefer to cooperate with the local enterprises in the way of laying symbiont, within the presumption that the institution remains. While the local government has the different positions on political activity and economic interest, they will re-define the existed regulation or create new regulation in the condition of institution vacuum. Sequentially, they will replace the targets, and the policy, which does not fit in the Central government’s policy, will emerge.

Keywords: China, institutional change, government enterprise relationship, e-commercial policy

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Authors: Selamat Muliadi

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This study aimed to explain conceptual the role of Zakat on sustainable economic development by Rumah Zakat. Rumah Zakat is a philanthropic institution that manages zakat and other social funds through community empowerment programs. In running the program, including economic empowerment and socio health services are designed for these recipients. Rumah Zakat's connection with the establisment of Sustainable Development Goals (SDGs) which is to help impoverished recipients economically and socially. It’s an important agenda that the government input into national development, even the region. The primary goal of Zakat on sustainable economic development, not only limited to economic variables but based on Islamic principles, has comprehensive characteristics. The characteristics include moral, material, spiritual, and social aspects. In other words, sustainable economic development is closely related to improving people’s living standard (Mustahiq). The findings provide empiricial evidence regarding the positive contribution and effectiveness of zakat targeting in reducing poverty and improve the welfare of people related with the management of zakat. The purpose of this study was to identify the role of Zakat on sustainable economic development, which was applied by Rumah Zakat. This study used descriptive method and qualitative analysis. The data source was secondary data collected from documents and texts related to the research topic, be it books, articles, newspapers, journals, or others. The results showed that the role of zakat on sustainable economic development by Rumah Zakat has been quite good and in accordance with the principle of Islamic economics. Rumah Zakat programs are adapted to support intended development. The contribution of the productive program implementation has been aligned with four goals in the Sustainable Development Goals, i.e., Senyum Juara (Quality Education), Senyum Lestari (Clean Water and Sanitation), Senyum Mandiri (Entrepreneur Program) and Senyum Sehat (Free Maternity Clinic). The performance of zakat in the sustainable economic empowerment community at Rumah Zakat is taking into account dimensions such as input, process, output, and outcome.

Keywords: Zakat, social welfare, sustainable economic development, charity

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Authors: Mathieu Audet, Monica Soliman, Emilie Eve Gravel, Rebecca Friesdorf

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Access to higher education is critical for reducing social inequalities. The Canada Learning Bond (CLB) is a government savings incentive aimed at increasing higher education access for children of low income families by providing money toward a Registered Education Savings Plan. To better understand the educational and financial decision-making of low income families, Employment Social Development Canada conducted qualitative fieldwork with eligible parents and children, teachers, and community organizations promoting the Bond. Insights from this fieldwork were then used to develop letters to better target the needs and experiences of eligible families. In the present study, we conducted a randomized controlled trial with children ages 12 to 13, the oldest cohort of eligible children, to test the effectiveness of the new letters. Parents or caregivers of 150,088 eligible children were assigned to one of five letter conditions promoting the Bond or to a control condition that did not receive a letter. The letter conditions were: (a) the standard letter from past outreach, (b) a letter presenting the exact amount the child was eligible to receive, enhancing the salience of benefits, (c) a letter with a social norm, (d) a letter with an image emphasizing the feasibility of higher education by presenting the diversity of options (i.e., college, trade schools, apprenticeships) – many participants interviewed viewed that university was unfeasible, and (e) a letter minimizing references to 'saving' (i.e., not framing the Bond explicitly as a savings incentive) – a concept that did not resonate with low income families who felt they could not afford to save. The exact amount was also presented in letters (c) through (e). The letter minimizing references to 'saving' and presenting the exact amount had the highest net take-up rate at 6.6%, compared to 3.5% for the standard letter group. Furthermore, this trial’s BI-informed letters showed the largest impact on take-up so far, with a net take-up of 5.7% compared to 3.0% and 3.9% in the first two trials. This research highlights the value of mixed-method approaches combining qualitative and behavioural insights methods for developing context-sensitive interventions for social programs. By gaining a deeper understanding of the needs and experiences of program users through qualitative fieldwork, and then integrating these insights into behaviourally informed communications, we were able to increase take-up of an education savings program, which may ultimately improve access to higher education in children of low income families.

Keywords: access to higher education, behavioral insights, government, innovation, mixed-methods, social programs

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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: Eli Maikoto Agison

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The relevance of enhancing human resource development in entrepreneurship for economic growth and development cannot be overemphasized since no country can grow and developed economically above its citizenry. Africa for example and Nigeria in particular is lagging behind in terms of economic growth and development when compared with other developed countries of the world like China, Japan, Singapore, USA etc. The reason is not farfetched from these developed countries efforts in enhancing human resource development in entrepreneurship education. For Nigeria to attain this height of development, this paper discusses the meaning of human resource development in entrepreneurship as the framework for helping employees develop their personal and organizational skills knowledge and abilities as this includes employee training, career development and performance management to enable an organization achieve a set goal. While entrepreneurship education is seen as an aspect of education that is geared towards self-reliance, some of the challenges faced in the enhancement of human resource development in Nigeria include inadequate training and re-training of instructors of entrepreneurship in higher education. Insufficient funding to higher education were discussed and recommendations to include adequate funding, training and re-training of instructors of higher education be enhanced as some of the ways forward.

Keywords: economic development, economic growth, entrepreneurship education, human resource development

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Authors: Zhou Yingkun, Xu Guorui, Wei Siming, Huang Yongzhang

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With the increasing of the penetration of renewable energy in power system, the whole inertia of the power system is declining, which will endanger the frequency stability of the power system. In order to enhance the inertia, virtual synchronous generator (VSG) has been proposed. In addition, the motor-generator pair (MGP) system is proposed to enhance grid inertia. Both of them need additional equipment to provide instantaneous energy, so the economic problem should be considered. In this paper, the basic working principle of MGP system and VSG are introduced firstly. Then, the technical characteristics and economic investment of MGP/VSG are compared by calculation and simulation. The results show that the MGP system can provide same inertia with less cost than VSG.

Keywords: high renewable energy penetration, inertia of power system, motor-generator pair (MGP) system, virtual synchronous generator (VSG), techno-economic analysis

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Authors: Hanadi Al-Mubaraki, Michael Busler

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Both in the developed and developing countries as well as Gulf Cooperation Council (GCC), the small and medium-sized enterprises (SMEs) proven to be main drivers of jobs creation and tools to accelerate economic development and economic diversification. This paper seeks to investigate and identify the strengths and weakness of SME as a veritable tool in economic development. A survey method was used to gather data from 171 SME from Gulf Cooperation Council (GCC). The research methodology uses a quantitative approach (survey) while data were collected with a structured questionnaire and analyzed with several descriptive statistics. The results of the study, therefore, will present sets of the strengths of SME in GCC such as 1) government supported local products (59%), 2) promoting SME local products rather than international products (47%), 3) reduce the legal and administrative procedures of SME establishment (46%) and weakness of SME in GCC such as: 1) lack of funding during the initial phase of the project (46%), 2) lack of liquidity during project continuity (39%), and 3) strong competition in the domestic and global market (38%). The study findings will be guidelines for academia and practitioners such as governments, policymakers, funded organizations, universities and strategic institutions for successful implementation.

Keywords: SME, economic development, GCC, strengths and weaknesses

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Authors: Abm Mostafa, Rumbidzai Mukono, Peijie Wang

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Using 285 respondents from two microfinance institutions, this research aims to assess the impact of microfinance on women’s economic empowerment in Bangladesh. Empirical measures of economic empowerment used in this paper are underpinned by a bargaining theory of household. Questionnaire is used for data collection following purposive sampling. Descriptive statistics, chi-square test, Kruskal-Wallis test, binary, and ordinal logistic regressions are deployed for data analysis. The findings of this study show that around three quarters of respondents have increased household income. They have increased their savings overwhelmingly; nonetheless, many of them are found to have a very small amount of savings. Still, more than half of the respondents are reported to have increased their savings when it is checked against at least 500 BDT per month. On the contrary, the percentage of women is moderate in terms of increasing control over finances. Empirical findings demonstrate the evidence of a relationship between the amount of loan and women’s household income, their savings, and control over finances. Nonetheless, no relationship is found in women’s areas. This study infers that women’s access to financial resources is fundamental to empower them in economic dimension.

Keywords: microfinance, women, economic, empowerment, Bangladesh

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Authors: Encarnación Álvarez-Verdejo, Raúl Amor-Pulido, Pablo J. Moya-Fernández, Juan F. Muñoz-Rosas, Francisco J. Blanco-Encomienda

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Many companies use the statistical tool named as statistical quality control, and which can have a high cost for the companies interested on these statistical tools. The evaluation of the quality of products and services is an important topic, but the reduction of the cost of the implantation of the statistical quality control also has important benefits for the companies. For this reason, it is important to implement a economic design for the various steps included into the statistical quality control. In this paper, we describe some relevant aspects related to the economic design of a quality control chart for the proportion of defective items. They are very important because the suggested issues can reduce the cost of implementing a quality control chart for the proportion of defective items. Note that the main purpose of this chart is to evaluate and control the proportion of defective items of a production process.

Keywords: proportion, type I error, economic plan, distribution function

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Authors: Mafel Obhuo, Dodeye I. Igbong, Duabari S. Aziaka, Pericles Pilidis

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An important feature of the exploitation of associated gas as fuel for gas turbine engines is a declining supply. So when exploiting this resource, the divestment of prime movers is very important as the fuel supply diminishes with time. This paper explores the influence of engine degradation on the timing of divestments. Hypothetical but realistic gas turbine engines were modelled with Turbomatch, the Cranfield University gas turbine performance simulation tool. The results were deployed in three degradation scenarios within the TERA (Techno-economic and environmental risk analysis) framework to develop economic models. An optimisation with Genetic Algorithms was carried out to maximize the economic benefit. The results show that degradation will have a significant impact. It will delay the divestment of power plants, while they are running less efficiently. Over a 20 year investment, a decrease of $0.11bn, $0.26bn and $0.45bn (billion US dollars) were observed for the three degradation scenarios as against the clean case.

Keywords: economic return, flared associated gas, net present value, optimization

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Authors: Maria R. A. R. Moreira, Francisco R. O. Da Silva, André O. A. Fontenele, Érick A. Ribeiro

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This article deals with the influence of technology in education showing educational robotics as pedagogical method of solution for knowledge building. We are proposing the development and implementation of four robot models that can be used for teaching purposes involving the areas of mechatronics, mechanics, electronics and computing, making it efficient for learning other sciences and theories. One of the main reasons for application of the developed educational kits is its low cost, allowing its applicability to a greater number of educational institutions. The technology will add to education dissemination of knowledge by means of experiments in such a way that the pedagogical robotics promotes understanding, practice, solution and criticism about classroom challenges. We also present the relationship between education, science, technology and society through educational robotics, treated as an incentive to technological careers.

Keywords: education, mecatronics, robotics, technology

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Authors: Rimon Rafiah

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This paper will present a combination of two seemingly unrelated models, which are the one for estimating economic development impacts as a result of transportation investment and the other for increasing CAV penetration in order to reduce congestion. Measuring economic development impacts resulting from transportation investments is becoming more recognized around the world. Examples include the UK’s Wider Economic Benefits (WEB) model, Economic Impact Assessments in the USA, various input-output models, and additional models around the world. The economic impact model is based on WEB and is based on the following premise: investments in transportation will reduce the cost of personal travel, enabling firms to be more competitive, creating additional throughput (the same road allows more people to travel), and reducing the cost of travel of workers to a new workplace. This reduction in travel costs was estimated in out-of-pocket terms in a given localized area and was then translated into additional employment based on regional labor supply elasticity. This additional employment was conservatively assumed to be at minimum wage levels, translated into GDP terms, and from there into direct taxation (i.e., an increase in tax taken by the government). The CAV model is based on economic principles such as CAV usage, supply, and demand. Usage of CAVs can increase capacity using a variety of means – increased automation (known as Level I thru Level IV) and also by increased penetration and usage, which has been predicted to go up to 50% by 2030 according to several forecasts, with possible full conversion by 2045-2050. Several countries have passed policies and/or legislation on sales of gasoline-powered vehicles (none) starting in 2030 and later. Supply was measured via increased capacity on given infrastructure as a function of both CAV penetration and implemented technologies. The CAV model, as implemented in the USA, has shown significant savings in travel time and also in vehicle operating costs, which can be translated into economic development impacts in terms of job creation, GDP growth and salaries as well. The models have policy implications as well and can be adapted for use in Japan as well.

Keywords: CAV, economic development, WEB, transport economics

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Authors: S. Zeynep Siretioglu Girgin, Gizem Turna Cebeci

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Turkey’s immigration policy is a controversial issue considering its legal, economic, social, and political and human rights dimensions. Formulation of an immigration policy goes hand in hand with political processes, where natives’ attitudes play a significant role. On the other hand, as was the case in Turkey, radical changes made in immigration policy or policies lacking transparency may cause severe reactions by the host society. The underlying discussion paper aims to analyze quantitatively the effects of the existing ‘open door’ immigration policy on the economic integration of Syrian refugees in Turkey, and on the perception of the native population of refugees. For the analysis, semi-structured in-depth interviews and focus group interviews have been conducted. After the introduction, a literature review is provided, followed by theoretical background on the explanation of natives’ attitudes towards immigrants. In the next section, a qualitative analysis of natives’ attitudes towards Syrian refugees is presented with the subtopics of (i) awareness, general opinions and expectations, (ii) open-door policy and management of the migration process, (iii) perception of positive and negative impacts of immigration, (iv) economic integration, and (v) cultural similarity. Results indicate that, natives concurrently have social, economic and security concerns regarding refugees, while difficulties regarding security and economic integration of refugees stand out. Socio-economic characteristics of the respondents, such as the educational level and employment status, are not sufficient to explain the overall attitudes towards refugees, while they can be used to explain the awareness of the respondents and the priority of the concerns felt.

Keywords: economic integration, immigration policy, integration policies, migrants, natives’ sentiments, perception, Syrian refugees, Turkey

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Authors: Ciolomic Ioana Andreea, Farcas Teodora, Tiron-Tudor Adriana

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Investments in research and innovation are widely acknowledged as being crucial drivers for economic growth, for job-creation and to secure social and economic welfare. The aim of this article is to disseminate the results of a Leonardo da Vinci Innovation Transfer project, AdapTykes Adaptation of trainings based up on the Finnish Workplace Development Programme. This project aims to analyses the adaptability of the Finnish model to the economic and political environment of the two emergent countries Romania and Hungary, in order to develop workplace innovation. The focus of this paper is to present the adaptability of the Finnish model to the Romanian context.

Keywords: innovation, human resources, education, tools

Procedia PDF Downloads 492