Search results for: economic transformation

Authors: Xiu Zhang

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The Merchant of Venice focuses on identity anxiety through the contract of “a pound of flesh” and refers to the economic, legal and religious issues related to identity. The development of the emerging capitalist economy in Venetian society prompted Shylock to become a usurer. The social identity of Shylock’s lender enabled him to use the power of money to consolidate the interdependent relationship with Christians and strive for his position and living space in Venetian society. However, there have long been economical and religious conflicts between Jews and Christians. Therefore, in order to take vengeance on Antonio and take his life, so as to revenge the whole Christian society, Shylock insists on taking a pound of Antonio’s flesh in the name of abiding by the contract and the law. The choice of “a pound of flesh” is essentially the representation of human materialization and commercialization under the background of the rise of capitalism and economic transformation. At the same time, it also symbolizes Shylock’s efforts and attempts to reshape himself and his racial identity.

Keywords: merchant of Venice, ethical choices, Shylock, a pound of flesh, identity anxiety

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Authors: E. Zippelius

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Urban design aims to provide a stage for public life that, when once brought to life, is right away subject to subtle but continuous transformation. This paper explores such transformations and searches for ways how public life can be reinforced in the case of a housing settlement for the displaced in Nicosia, Cyprus. First, a sound basis of theoretical knowledge is established through literature review, notably the theory of the Production of Space by Henri Lefebvre, exploring its potential and defining key criteria for the following empirical analysis. The analysis is pinpointing the differences between spatial practice, representation of space and spaces of representation as well as their interaction, alliance, or even conflict. In doing so uncertainties, chances and challenges are unraveled that will be consequently linked to practice and action and lead to the formulation of a design strategy. A strategy, though, that does not long for achieving an absolute, finite certainty but understands the three dimensions of space formulated by Lefebvre as equal and space as continuously produced, hence, unfinished.

Keywords: production of space, public space, urban life, urban transformation

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Authors: M. Aladwani, Y. Alarfaj

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The construction industry is currently experiencing a shift towards digitisation. This transformation is driven by adopting technologies like Building Information Modelling (BIM), drones, and augmented reality (AR). These advancements are revolutionizing the process of designing, constructing, and operating projects. BIM, for instance, is a new way of communicating and exploiting technology such as software and machinery. It enables the creation of a replica or virtual model of buildings or infrastructure projects. It facilitates simulating construction procedures, identifying issues beforehand, and optimizing designs accordingly. Drones are another tool in this revolution, as they can be utilized for site surveys, inspections, and even deliveries. Moreover, AR technology provides real-time information to workers involved in the project. Implementing these technologies in the construction industry has brought about improvements in efficiency, safety measures, and sustainable practices. BIM helps minimize rework and waste materials, while drones contribute to safety by reducing workers' exposure to areas. Additionally, AR plays a role in worker safety by delivering instructions and guidance during operations. Although the digital transformation within the construction industry is still in its early stages, it holds the potential to reshape project delivery methods entirely. By embracing these technologies, construction companies can boost their profitability while simultaneously reducing their environmental impact and ensuring safer practices.

Keywords: BIM, digital construction, construction technologies, digital transformation

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Authors: Gechbaia Badri

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The paper discusses in today's world of economic globalization and development of innovative economic integration is one of the issues of the day in the world. The article analyzes the innovation economy development trends in EU, showed the innovation economy formation of the main problems and results, also the development of innovative potential of the economy. The author reckons that the European economy will contribute to the development of innovative economic space of speech in recent years developed a financial and economic crisis.

Keywords: European Union, innovative system, innovative development, innovations

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Authors: Jakub Havlicek, Jiri Cajthaml

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The article describes the effect of the replacement of the used reference coordinate system in the georeferencing of an old map of Europe. In particular, it was the map entitled “Europe, the Map of Rivers and Mountains on a 1 : 12 000 000 Scale”, elaborated by professor D. Cipera and Dr. J. Metelka for Otto’s Geographic Atlas of 1924. The work was most likely produced using the equal-area conic (Albers) projection. The map was georeferenced into three types of projection – the equal-area conic, cylindrical Plate Carrée and cylindrical Mercator map projection. The map was georeferenced by means of the affine and the second-order polynomial transformation. The resulting georeferenced raster datasets from the Plate Carrée and Mercator projection were projected into the equal-area conic projection by means of projection equations. The output is the comparison of drawn graphics, the magnitude of standard deviations for individual projections and types of transformation.

Keywords: georeferencing, reference coordinate system, transformation, standard deviation

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Authors: Amna Javed, Hisashi Masuda, Youji Kohda

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This study examines the value analysis in Islamic and conventional banking services in Pakistan. Many scholars have focused on co-creation of values in services but mainly economic values not non-economic. As Islamic banking is based on Islamic principles that are more concerned with non-economic values (well-being, partnership, fairness, trust worthy, and justice) than economic values as money in terms of interest. This study is important to know the providers point of view about the co-created values, because, it may be more sustainable and appropriate for today’s unpredictable socioeconomic environment. Data were collected from 4 banks (2 Islamic and 2 conventional banks). Text mining technique is applied for data analysis, and values with 100% occurrences in Islamic banking are chosen. The results reflect that Islamic banking is more centric towards non-economic values than economic values and it promotes team work and partnership concept by applying Islamic spirit and trust worthiness concept.

Keywords: economic values, Islamic banking, non-economic values, value system

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Authors: Jia Xu

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There is a lot of bottom space in the teaching area of Zijingang Campus of Zhejiang University, which benefits to the ventilation, heat dissipation, circulation, partition of quiet and noisy areas and diversification of spaces. Hangzhou is hot in summer but cold in winter, so teachers and students spend much less time in the bottom space of buildings in winter than in summer. Recently, depending on the teachers and students’ proposals, the school transformed the bottom space in the teaching area to provide space for relaxing, chatting and staying in winter. Surveying and analyzing the existing ways to transform, the paper researches deeply on the transformation projects of bottom space in the teaching buildings. It is believed that this paper can be a salutary lesson to make the bottom space in the teaching areas of universities richer and bring more diverse activities for teachers and students.

Keywords: bottom space, teaching area, transformation, Zijingang Campus of Zhejiang University

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Authors: Dimitrios J. Dimitriou

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It is widely recognised that the assets portfolio development is helping to enhance economic growth, productivity and competitiveness. While numerous studies and reports certify the positive effect of investments in large infrastructure investments on the local economy, still, the methodology to estimate the contribution in economic development is a challenging issue for researchers and economists. The key question is how to estimate those economic impacts in each economic system. This paper provides a compact and applicable methodological framework providing quantitative results in terms of the overall jobs and income generated into the project life cycle. According to a deterministic mathematical approach, the key variables and the modelling framework are presented. The numerical case study highlights key results for a new motorway project in Greece, which is experienced economic stress for many years, providing the opportunity for comparisons with similar cases.

Keywords: quantitative modelling, economic impact, large transport infrastructure, economic assessment

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Authors: A. Selmi

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Free vibration analysis of homogenous and axially functionally graded simply supported beams within the context of Euler-Bernoulli beam theory is presented in this paper. The material properties of the beams are assumed to obey the linear law distribution. The effective elastic modulus of the composite was predicted by using the rule of mixture. Here, the complexities which appear in solving differential equation of transverse vibration of composite beams which limit the analytical solution to some special cases are overcome using a relatively new approach called the Differential Transformation Method. This technique is applied for solving differential equation of transverse vibration of axially functionally graded beams. Natural frequencies and corresponding normalized mode shapes are calculated for different Young’s modulus ratios. MATLAB code is designed to solve the transformed differential equation of the beam. Comparison of the present results with the exact solutions proves the effectiveness, the accuracy, the simplicity, and computational stability of the differential transformation method. The effect of the Young’s modulus ratio on the normalized natural frequencies and mode shapes is found to be very important.

Keywords: differential transformation method, functionally graded material, mode shape, natural frequency

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Authors: Carolina Arriagada, Yasna Contreras

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Since mid-2000, the migratory flows of Latin American migrants to Chile have been increasing constantly. There are two reasons that would explain why Chile is presented as an attractive country for the migrants. On the one hand, traditional centres of migrants’ attraction such as the United States and Europe have begun to close their borders. On the other hand, Chile exhibits relative economic and political stability, which offers greater job opportunities and better standard of living when compared to the migrants’ origin country. At the same time, the neoliberal economic model of Chile, developed under an extractive production of the natural resources, has privatized the urban space. The market regulates the growth of the fragmented and segregated cities. Then, the vulnerable population, most of the time, is located in the periphery and in the marginal areas of the urban space. In this aspect, the migrants have begun to occupy those degraded and depressed areas of the city. The problem raised is that the increase of the social spatial segregation could be also attributed to the migrants´ occupation of the marginal urban places of the city. The aim of this investigation is to carry out an analysis of the migrants’ housing strategies, which are transforming the marginal areas of the city. The methodology focused on the urban experience of the migrants, through the observation of spatial practices, ways of living and networks configuration in order to transform the marginal territory. The techniques applied in this study are semi–structured interviews in-depth interviews. The study reveals that the migrants housing strategies for living in the marginal areas of the city are built on a paradox way. On the one hand, the migrants choose proximity to their place of origin, maintaining their identity and customs. On the other hand, the migrants choose proximity to their social and familiar places, generating sense of belonging. In conclusion, the migration as international displacements under a globalized economic model increasing socio spatial segregation in cities is evidenced, but the transformation of the marginal areas is a fundamental resource of their integration migratory process. The importance of this research is that it is everybody´s responsibility not only the right to live in a city without any discrimination but also to integrate the citizens within the social urban space of a city.

Keywords: migrations, marginal space, resignification, visibility

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Authors: Alexander Gretchenko, Liudmila Goncharenko, Sergey Sybachin

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This article summarizes the history of the discovery of N.D. Kondratiev of large cycles of economic conditions, as well as the creation and justification of the theory of innovation-cyclical economic development of Kondratiev-Schumpeter. An analysis of it in modern conditions is providing. The main conclusion in this article is that in general terms today it can be argued that the Kondratiev-Schumpeter theory is sufficiently substantiated. Further, the possibility of making a forecast of the development of the economic situation in the direction of applying this theory in practice, which demonstrate its effectiveness, is considered.

Keywords: Kondratiev's big cycles of economic conjuncture, Schumpeter's theory of innovative economic development, long-term cyclical forecasting, dating of Kondratiev cycles

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Authors: Vera Jancurova

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People are, in general, exposed to behavioral biases, however, the degree and impact are affected by experience, knowledge, and other characteristics. The purpose of this article is to study two of defined behavioral biases, the overconfidence and self-attribution bias, and its impact on economic and non-economic students at different stage of the study. The research method used for the purpose of this study is a controlled field study that contains questions on perception of own confidence and self-attribution and estimation of limits to analyse actual abilities. The results of the research show that economic students seem to be more overconfident than their non–economic colleagues, which seems to be caused by the fact the questionnaire was asking for predicting economic indexes and own knowledge and abilities in financial environment. Surprisingly, the most overconfidence was detected by the students at the beginning of their study (1st-semester students). However, the estimations of real numbers do not point out, that economic students have better results by the prediction itself. The study confirmed the presence of self-attribution bias at all of the respondents.

Keywords: behavioral finance, overconfidence, self-attribution, heuristics and biases

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Authors: Ayşen Edirneligil, Mehmet Mucuk

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In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: external debt, economic growth, Turkish economy, time series analysis

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Authors: Arkaprabha Bhattacharyya, Makarand Hastak

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The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: economic growth, infrastructure development, infrastructure projects, strategic investment

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Authors: Bernur Acikgoz

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The purpose of this paper is to investigate the effects of public spending on economic growth and examine the sources of economic growth in developed countries since the 1990s. This paper analyses whether public spending effect on economic growth based on Cobb-Douglas Production Function with the two econometric models with Autoregressive Distributed Lag (ARDL) and Dynamic Fixed Effect (DFE) for 21 developed countries (high-income OECD countries), over the period 1990-2013. Our models results are parallel to each other and the models support that public spending has an important role for economic growth. This result is accurate with theories and previous empirical studies.

Keywords: public spending, economic growth, panel data, ARDL models

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Authors: Heeho Kim, Byeong-Hae Sohn

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This study has examined the culture commonality of Northeast Asian countries based on Confucian values, and their relations to institutional economic integration. This study demonstrates that Confucian values inherent in the Northeast Asian countries have served as the cultural ethos for the rapid economic growth of this region since the 1960s and will be able to form the foundation of Northeast Asian values in the future. This paper re-appreciates these cultural values as a necessary condition for regional integration to catalyze the stagnated discussions about economic integration and extends its inter-weaving connection role for intra-regional transaction among China, Japan and Korea.

Keywords: Confucianism, Northeast Asia, economic integration, economic growth, regional conflicts

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Authors: Shierwin Agagen Cabunilas

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

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

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Authors: Manoela Cabo da Silva, Elton Fernandes, Ricardo Pacheco, Heloisa Pires

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This study examined cointegration and causal relationships between economic growth and regular domestic and international passenger air transport in Brazil. Total passengers embarked and disembarked were used as a proxy for air transport activity and gross domestic product (GDP) as a proxy for economic development. The test spanned the period from 2000 to 2015 for domestic passenger traffic and from 1995 to 2015 for international traffic. The results confirm the hypothesis that there is cointegration between passenger traffic series and economic development, showing a bi-directional Granger causal relationship between domestic traffic and economic development and unidirectional influence by economic growth on international passenger air transport demand. Variance decomposition of the series showed that domestic air transport was far more important than international transport to promoting economic development in Brazil.

Keywords: air passenger transport, cointegration, economic growth, GDP, Granger causality

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Authors: Gulcan Ozerim, Gunay Anlas

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In shape memory alloys, upon loading, stress increases around crack tip and a martensitic phase transformation occurs in early stages. In many studies the stress distribution in the vicinity of the crack tip is represented by using linear elastic fracture mechanics (LEFM) although the pseudo-elastic behavior results in a nonlinear stress-strain relation. In this study, the HRR singularity (Hutchinson, Rice and Rosengren), that uses Rice’s path independent J-integral, is tried to formulate the stress distribution around the crack tip. In HRR approach, the Ramberg-Osgood model for the stress-strain relation of power-law hardening materials is used to represent the elastic-plastic behavior. Although it is recoverable, the inelastic portion of the deformation in martensitic transformation (up to the end of transformation) resembles to that of plastic deformation. To determine the constants of the Ramberg-Osgood equation, the material’s response is simulated in ABAQUS using a UMAT based on ZM (Zaki-Moumni) thermo-mechanically coupled model, and the stress-strain curve of the material is plotted. An edge cracked shape memory alloy (Nitinol) plate is loaded quasi-statically under mode I and modeled using ABAQUS; the opening stress values ahead of the cracked tip are calculated. The stresses are also evaluated using the asymptotic equations of both LEFM and HRR. The results show that in the transformation zone around the crack tip, the stress values are much better represented when the HRR singularity is used although the J-integral does not show path independent behavior. For the nodes very close to the crack tip, the HRR singularity is not valid due to the non-proportional loading effect and high-stress values that go beyond the transformation finish stress.

Keywords: crack, HRR singularity, shape memory alloys, stress distribution

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Authors: Abhisek Sarkar, Abhimanyu Gaur

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In this report we have discussed the theoretical aspects of the flow transformation, occurring through a series of bifurcations. The parameters and their continuous diversion, the intermittent bursts in the transition zone, variation of velocity and pressure with time, effect of roughness in turbulent zone, and changes in friction factor and head loss coefficient as a function of Reynolds number for a transverse flow across a cylinder have been discussed. An analysis of the variation in the wake length with Reynolds number was done in FORTRAN.

Keywords: bifurcation, attractor, intermittence, energy cascade, energy spectra, vortex stretching

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Authors: Mohamed K. El-Fawkhry, Ahmed Shash, Ahmed Ismail Zaki Farahat, Sherif Ali Abd El Rahman, Taha Mattar

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High-carbon, silicon-rich steels are commonly suggested to obtain very fine bainitic microstructure at low temperature ranged from 200 to 300°C. Thereby, the resulted microstructure consists of slender of bainitic-ferritic plates interwoven with retained austenite. The advanced strength and ductility package of this steel is much dependent on the fineness of bainitic ferrite, as well as the retained austenite phase. In this article, Aluminum to Silicon ratio, and the isothermal transformation temperature have been adopted to obtain ultra high strength high carbon steel. Optical and SEM investigation of the produced steels have been performed. XRD has been used to track the retained austenite development as a result of the change in the chemical composition of developed steels and heat treatment process. Mechanical properties in terms of hardness and microhardness of obtained phases and structure were investigated. It was observed that the increment of aluminum to silicon ratio has a great effect in promoting the bainitic transformation, in tandem with improving the stability and the fineness of retained austenite. Such advanced structure leads to enhancement in the whole mechanical properties of the high carbon steel.

Keywords: high-carbon steel, silicon-rich steels, fine bainitic microstructure, retained austenite, isothermal transformation

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Authors: Jorge Ferrada Herrera, Pablo M. Millán-Millán

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The delimitation in the cities of heritage areas implicit in strong processes of transformation, both social and material. The study shows how two cities, seemingly different as Seville (Spain) and Valparaiso (Chile), share the same transformation process from its declaration as heritage cities. The metdología used in research has been on the one hand the analytic-criticism has shown us all processes and the level of involvement of these. On the other hand the direct observation methodology has allowed us to ratify all studied. Faced with these processes research shows social resources that people have developed to address each of them. The study concludes the need to strengthen the social and associative fabric in heritage areas as a resource to ensure the survival of heritage, not only material but also social and cultural. As examples, we have chosen Seville and Valparaiso: the gentrification of Seville prior to the universal exhibition of ‘92 –with pretty specific plans-- is paralleled by Valparaiso’s plan to revitalize its port and its protected (UNESCO) area. The whole of our theoretical discourse will be based thereupon.

Keywords: historical centers, tourism, heritage, social processes

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Authors: Gisele Mah, Paul Saah

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The rising rates of inflation are hindering economic growth in developing nations. Hence, this study investigated the effects of inflation rates on the economic growth of South Africa using the secondary time series data from 1987 to 2022. The main objectives of this study were to investigate the long run relationship between inflation and economic growth, and also to determine the causality direction between these two variables. The study utilized the Autoregressive Distributed Lag (ARDL) bounds test of co-integration to investigate whether there is a long-run relationship between inflation and economic growth. The Pairwise Granger causality approach was employed to determine the second objective, which is the direction of causality. The study discovered only one co-integration relationship between our variables and it was between inflation and economic growth. The results showed that there is a negative and significant relationship between inflation and economic growth. There appeared to be a positive and significant relationship between economic growth and exchange rate. The interest rates have shown to be negative and insignificant in explaining economic growth. The study also established that inflation does Granger cause economic growth which is given as GDP. Similarly, the study discovered that inflation Granger causes exchange rates. Therefore, the study recommends that inflation should be decreased in South Africa, in order for economic growth to increase. Contrary, this study recommends that South Africa should increase its exchange rates, in order for economic growth to also increase.

Keywords: inflation rate, economic growth, South Africa, autoregressive distributed lag model

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Authors: M. Ahmadi, M. Kafil, H. Ebrahimi

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Nowadays, induction motors have a significant role in industries. Condition monitoring (CM) of this equipment has gained a remarkable importance during recent years due to huge production losses, substantial imposed costs and increases in vulnerability, risk, and uncertainty levels. Motor current signature analysis (MCSA) is one of the most important techniques in CM. This method can be used for rotor broken bars detection. Signal processing methods such as Fast Fourier transformation (FFT), Wavelet transformation and Empirical Mode Decomposition (EMD) are used for analyzing MCSA output data. In this study, these signal processing methods are used for broken bar problem detection of Mobarakeh steel company induction motors. Based on wavelet transformation method, an index for fault detection, CF, is introduced which is the variation of maximum to the mean of wavelet transformation coefficients. We find that, in the broken bar condition, the amount of CF factor is greater than the healthy condition. Based on EMD method, the energy of intrinsic mode functions (IMF) is calculated and finds that when motor bars become broken the energy of IMFs increases.

Keywords: broken bar, condition monitoring, diagnostics, empirical mode decomposition, fourier transform, wavelet transform

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Authors: Kathrin F. Schneider, Luis Xavier Unda Galarza

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In our modern world, few are the areas that are not permeated by digitalization: we use digital tools for work, study, entertainment, and daily life. Since technology changes rapidly, skills must adapt to the new reality, which gives a dynamic dimension to the set of skills necessary for people's academic, professional, and personal success. The concept of 21st-century digital skills, which includes skills such as collaboration, communication, digital literacy, citizenship, problem-solving, critical thinking, interpersonal skills, creativity, and productivity, have been widely discussed in the literature. Digital transformation has opened many economic opportunities for entrepreneurs for the development of their products, financing possibilities, and product distribution. One of the biggest advantages is the reduction in cost for the entrepreneur, which has opened doors not only for the entrepreneur or the entrepreneurial team but also for corporations through intrapreneurship. The development of students' general literacy level and their digital competencies is crucial for improving the effectiveness and efficiency of the learning process, as well as for students' adaptation to the constantly changing labor market. The digital economy allows a free substantial increase in the supply share of conditional and also innovative products; this is mainly achieved through 5 ways to reduce costs according to the conventional digital economy: search costs, replication, transport, tracking, and verification. Digital entrepreneurship worldwide benefits from such achievements. There is an expansion and democratization of entrepreneurship thanks to the use of digital technologies. The digital transformation that has been taking place in recent years is more challenging for developing countries, as they have fewer resources available to carry out this transformation while offering all the necessary support in terms of cybersecurity and educating their people. The degree of digitization (use of digital technology) in a country and the levels of digital literacy of its people often depend on the economic level and situation of the country. Telefónica's Digital Life Index (TIDL) scores are strongly correlated with country wealth, reflecting the greater resources that richer countries can contribute to promoting "Digital Life". According to the Digitization Index, Ecuador is in the group of "emerging countries", while Chile, Colombia, Brazil, Argentina, and Uruguay are in the group of "countries in transition". According to Herrera Espinoza et al. (2022), there are startups or digital ventures in Ecuador, especially in certain niches, but many of the ventures do not exceed six months of creation because they arise out of necessity and not out of the opportunity. However, there is a lack of relevant research, especially empirical research, to have a clearer vision. Through a self-report questionnaire, the digital skills of students will be measured in an Ecuadorian private university, according to the skills identified as the six 21st-century skills. The results will be put to the test against the variable of the intention to start a digital venture measured using the theory of planned behavior (TPB). The main hypothesis is that high digital competence is positively correlated with the intention to start digital entrepreneurship.

Keywords: new literacies, digital transformation, 21st century skills, theory of planned behavior, digital entrepreneurship

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Authors: Temesgen Yaekob Ergano, Sure Pulla Rao

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The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively.

Keywords: financial development, economic growth, Sub-Saharan Africa, system GMM analysis, financial indicators.

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Authors: Roni Naor-Hofri

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This paper shows how self-inflicted pain enabled the expression of love for God among Christian monastic ascetics in medieval central Europe. As scholars have shown, being in a state of pain leads to a change in or destruction of language, an essential feature of the self. The author argues that this transformation allows the self to transcend its boundaries as an object, even if only temporarily and in part. The epistemic achievement of love for God, a non-object, would not otherwise have been possible. To substantiate her argument, the author shows that the self’s transformation into a non-object enables the imitation of God: not solely in the sense of imitatio Christi, of physical and visual representations of God incarnate in the flesh of His son Christ, but also in the sense of the self’s experience of being a non-object, just like God, the target of the self’s love.

Keywords: love for God , pain, philosophy, religion

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Authors: L. Totladze

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The role of financial sector in supporting economic growth and development is well acknowledged. The term spread (the difference between the yields on long-term and short-term Treasury securities) has been found useful for predicting economic variables as output growth, inflation, industrial production, consumption. The temp spread is one of the leading economic indicators according to NBER methodology. Leading economic indicators are widely used in forecasting of economic activity. Many empirical studies find that the term spread predicts future economic activity. The article shortly explains how the term spread might predict future economic activity. This paper analyses the dynamics of the spread between short and long-term interest rates in countries with transition economies. The research paper analyses term spread dynamics in Georgia and compare it with post-communist countries and transition economies spread dynamics. In Georgia, the banking sector plays an important and dominant role in the financial sector, especially with respect to the mobilization of savings and provision of credit and may impact on economic activity. For this purpose, we study the impact of the term spread on economic growth in Georgia.

Keywords: forecasting, leading economic indicators, term spread, transition economies

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Authors: Azizah Hashim, Rohana Ngah

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Transformation of Economic Development is aimed to transform Malaysia to become a high-income developed nation with a knowledge-based economy by 2020. To achieve this national agenda, the country needs to further strengthen its economic development, growth and well-being. Therefore, this study aspires to examine the relationship between market orientation, human resource management and adoption of information communication technology and SMEs performance and cash management as a mediator. This study will employ quantitative approaches. Questionnaires will be distributed to managers and owners in service sectors. The data collected will be analyzed using SPSS and Structural Equation Modelling. Resource Based Theory (RBT) adopts as an integral part of management literature that explains the performance of organizations through building resources and implement of their strategies.

Keywords: small medium enterprises (SMEs), market orientation, human resource management, adoption of information communication technology

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Authors: Bisola Stella Sonde

Abstract:

Digital innovation has emerged as a pivotal driver of business transformation in the contemporary landscape. This case study research explores the dynamic interplay between digital innovation and the profound metamorphosis of businesses across industries. It delves into the multifaceted dimensions of digital innovation, elucidating its impact on organizational structures, customer experiences, and operational paradigms. The study investigates real-world instances of businesses harnessing digital technologies to enhance their competitiveness, agility, and sustainability. It scrutinizes the strategic adoption of digital platforms, data analytics, artificial intelligence, and emerging technologies as catalysts for transformative change. The cases encompass a diverse spectrum of industries, spanning from traditional enterprises to disruptive startups, offering insights into the universal relevance of digital innovation. Moreover, the research scrutinizes the challenges and opportunities posed by the digital era, shedding light on the intricacies of managing cultural shifts, data privacy, and cybersecurity concerns in the pursuit of innovation. It unveils the strategies that organizations employ to adapt, thrive, and lead in the era of digital disruption. In summary, this case study research underscores the imperative of embracing digital innovation as a cornerstone of business transformation. It offers a comprehensive exploration of the contemporary digital landscape, offering valuable lessons for organizations striving to navigate the ever-evolving terrain of the digital age.

Keywords: business transformation, digital innovation, emerging technologies, organizational structures

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