Search results for: economic value added

Authors: Muhammad Ali Asadullah, Zafarullah Amir

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In recent years, Vocational Education and Training (VET) has been under discussion by the academic researchers and remained in focus in the political grounds. Due to potential contribution of VET, the World Bank and United Nations Educational, Scientific and Cultural Organization (UNESCO) support vocational education to reduce poverty, enhance economic growth and increase competitiveness. This paper examines the impact of Vocational Education and Training on the Economic Growth and Social Inclusion with direct and mediation effect of Social Inclusion. The basic purpose of this study is to assess economic pay-offs as a result of long term investments in VET. Based on the review of Anderson Nilsson, initially we explored the increasing or decreasing trend in investment on VET. Further, the study explores that the countries which invest more on VET, tend to get more economic growth and are socially more ‘inclusive’. It is a longitudinal / panel data study with 12 years of registered data which involves 24 OECD countries. The results of the study indicate the VET has positive association with Social Inclusion and Economic Growth. Further, there is also a positive association of VET and Economic Growth through mediation of Social Inclusion. The current study considers not only issue and challenges in developing VET systems but also contributes to develop the theoretical framework for considering how VET can directly and indirectly improve economic growth and social inclusion. A wider appreciation of how VET’s benefits operate may influence a country’s decisions to invest in it. If policy makers increase investment on VET, the result would be positive in Economic Growth and Social Inclusion. It is also recommended that the same OECD model may be implemented in developing countries like Pakistan.

Keywords: Vocational Education and Training (VET), Social Inclusion, Economic Growth, OECD countries

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Authors: Jamila Garba Audu, Peter Adamu

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

Keywords: corruption, economic performance, forensic accounting, Nigeria

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Authors: Amaefule, Leonard Ifeanyi

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The study evaluated the disruptions in Nigeria’s domestic economic activities occasioned by the COVID-19 pandemic: a pre and post-pandemic investigation approach. Domestic economic activities were measured with composite manufacturing purchasing managers index (PMI) and composite non-manufacturing PMI. Production and employment levels indices were proxies for composite manufacturing PMI, while business activities and employment level indices were proxies for non-manufacturing PMI. Data for these indices were sourced from monthly and quarterly publications of the Central Bank of Nigeria for periods covering fifteen (15) months before and 15 months after the outbreak of the virus in Nigeria. Test of equality of means was employed in establishing the significance of the difference of means between the pre and post-pandemic domestic economic activities. Results from the analysis indicated that a significant negative difference exists in each of the measures of domestic economic activities between the pre and post-pandemic periods. These findings, therefore, offer empirical evidence that the COVID-19 pandemic has disrupted domestic economic activities in Nigeria; thus, it exerts a negative influence on the measures of the nation’s domestic economic activities. The study thus recommended (among other things) that the Nigerian government should focus on policies that would enhance domestic production, employment and enhance business activities.

Keywords: COVID-19, domestic economic activities, composite manufacturing indices, composite non-manufacturing indices

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Authors: Temitope L. A. Leshoro

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This study explored several variables that enhance economic growth in South Africa, based on different growth theories while using the vector error correction model (VECM) technique. The impacts and contributions of each of these variables on GDP in South Africa were investigated. The motivation for this study was as a result of the weak economic growth that the country has been experiencing lately, as well as the continuous increase in unemployment rate and deteriorating health care system. Annual data spanning over the period 1974 to 2013 was employed. The results showed that the major determinants of GDP are trade openness, government spending, and health indicator; as these variables are not only economically significant but also statistically significant in explaining the changes in GDP in South Africa. Policy recommendations for economic growth enhancement are suggested based on the findings of this study.

Keywords: economic growth, GDP, investment, health indicator, VECM

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Authors: Kashan Bashir, Salah Naji Ahmed Sufyan, Mirza Umar Baig

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In this study, n-dodecane, tetralin, decalin, and tetramethybenzene (TMBE) were used as model compounds of alkanes, naphthenic-aromatic, cycloalkanes and alkyl-benzenes presented in hydro-diesel. The catalytic cracking properties of four model compounds over Y zeolite catalyst (Y-Cat.) and ZSM-5 zeolite catalysts (ZSM-5-Cat.) were probed. The experiment results revealed that high conversion of macromolecular paraffin and naphthenic aromatics were achieved over Y-Cat, whereas its low cracking activity of intermediate products micromolecules paraffin and olefin and high activity of hydride transfer reaction goes against the production of value-added products (light olefin and gasoline). In contrast, despite the fact that the hydride transfer reaction was greatly inhabited over ZSM-5-Cat, the low conversion of macromolecules was observed attributed to diffusion limitations. Interestingly, the mixed catalyst compensates for the shortcomings of the two catalysts, and a “relay reaction” between Y-Cat and ZSM-5-Cat was proposed. Specifically, the added Y-Cat acts as a “pre-cracking booster site” and promotes macromolecules conversion. The addition of ZSM-5-Cat not only significantly suppresses the hydride transfer reaction but also contributes to the cracking of immediate products paraffin and olefin into ethylene and propylene, resulting in a high yield of alkyl-benzene (gasoline), ethylene, and propylene with a low yield of naphthalene (LCO) and coke. The catalytic cracking evaluation experiments of mixed hydro-LCO were also performed to further clarify the “relay reaction” above, showing the highest yield of LPG and gasoline over mixed catalyst. The results indicate that the Y-cat and ZSM-5-cat have a synergistic effect on the conversion of hydro-diesel and corresponding value-added product yield and selective coke yield.

Keywords: synergistic effect, hydro-diesel cracking, FCC, zeolite catalyst, ethylene and propylene

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Authors: Ezeabasili Chibuike Patrick

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The complex situation of construction industries in Nigeria and the risk of failures involved includes cost overrun, time overrun, Corruption, Government influence, Subcontractor challenges, Political influence and Instability, Cultural differences, Human resources deficiencies, cash flow Challenges, foreign exchange issues, inadequate design, Safety, low productivity, late payment, Quality control issues, project management issues, Environmental issues, Force majeure Competition amongst others has made the industry prone to risk and failures. Good project management remains effective in improving decision-making, which minimizes these risk events. This study was done to address these project risks and good decision-making to avert them. A mixed-method approach to research was used to do this study. Data collected by questionnaires and interviews on thirty-two (32) construction professionals was used in analyses to aid the knowledge and management of risks that were identified. The study revealed that there is no good risk management expertise in Nigeria. Also, that the economic/political situation and the recent COVID-19 pandemic has added to the risk and poor management strategies. The contingency theory and cost has therefore surfaced to be the most strategic management method used to reduce these risk issues and they seem to be very effective.

Keywords: strategies, risk management, contingency theory, Nigeria

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Authors: Rumeysa Terzioglu

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Social entrepreneurship is not only a new concept but also an engaging factor of development that utilizes opportunities in economic and social areas for women. Social entrepreneurs have experience in determining and solving social problems with community participation. Social entrepreneurship is a consequence of individual social and economic initiatives contributing to women’s social and economic development against poverty. Women’s empowerment is an essential point for development. Türkiye has been developing an alternative empowerment model for women affected by the national development plan. Social entrepreneurship is an alternative model of social and economic empowerment of women’s status in Türkiye.

Keywords: social entrepreneurship, women, women empowerment, development

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Authors: Giorgi Bregadze

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Tourism is the most viable and sustainable economic development option for Georgia and one of the main sources of foreign exchange earnings. Events are considered as one of the most effective ways to attract foreign visitors to the country, and, recently, the government of Georgia has begun investing in this sector very actively. This article stresses the necessity of research based economic policy in the tourism sector. In this regard, it is of paramount importance to measure the economic effects of the events which are subsidized by taxpayers’ money. The economic effect of events can be analyzed from two perspectives; financial perspective of the government and perspective of economic effects of the tourism administration. The article emphasizes more realistic and all-inclusive focus of the economic effect analysis of the tourism administration as it concentrates on the income of residents and local businesses, part of which generate tax revenues for the government. The public would like to know what the economic returns to investment are. In this article, the methodology used to describe the economic effects of UEFA Super Cup held in Tbilisi, will help to answer this question. Methodology is based on three main principles and covers three stages. Using the suggested methodology article estimates the direct economic effect of UEFA Super cup on Georgian economy. Although the attempt to make an economic effect analysis of the event was successful in Georgia, some obstacles and insufficiencies were identified during the survey. The article offers several recommendations that will help to refine methodology and improve the accuracy of the data. Furthermore, it is very important to receive the correct standard of measurement of events in Georgia. In this caseü non-ethical acts of measurement which are widely utilized by different research companies will not trigger others to show overestimated effects. It is worth mentioning that to author’s best knowledge, this is the first attempt to measure the economic effect of an event held in Georgia.

Keywords: biased economic effect analysis, expenditure of local citizens, time switchers and casuals, UEFA super cup

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Authors: Givi Kupatadze

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

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

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Authors: S. Flynn

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This paper offers a focused commentary on the impact of the current economic downturn on children with ID (intellectual disability), and their families, in the Republic of Ireland. It will examine the practical challenges, serious concerns, and trends in the field of disability with specific regard to the impact of the economic downturn in the Irish context. This includes the impact of cutbacks to services and supports, and the erosion of possibilities for life progression for children with ID as evident within the existing body of research. This focused commentary on core and seminal literature, policy and research will then be used to provide a discussion on what are the core points of learning for policy makers, researchers, practitioners and society as whole.

Keywords: children, disability, economic, recession

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Authors: Bülent Kantar, Numan Ünaldı

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This paper presents a new method which includes robust and invisible digital watermarking on images that is colored. Colored images are used as watermark. Frequency region is used for digital watermarking. Discrete wavelet transform and discrete stationary wavelet transform are used for frequency region transformation. Low, medium and high frequency coefficients are obtained by applying the two-level discrete wavelet transform to the original image. Low frequency coefficients are obtained by applying one level discrete stationary wavelet transform separately to all frequency coefficient of the two-level discrete wavelet transformation of the original image. For every low frequency coefficient obtained from one level discrete stationary wavelet transformation, watermarks are added. Watermarks are added to all frequency coefficients of two-level discrete wavelet transform. Totally, four watermarks are added to original image. In order to get back the watermark, the original and watermarked images are applied with two-level discrete wavelet transform and one level discrete stationary wavelet transform. The watermark is obtained from difference of the discrete stationary wavelet transform of the low frequency coefficients. A total of four watermarks are obtained from all frequency of two-level discrete wavelet transform. Obtained watermark results are compared with real watermark results, and a similarity result is obtained. A watermark is obtained from the highest similarity values. Proposed methods of watermarking are tested against attacks of the geometric and image processing. The results show that proposed watermarking method is robust and invisible. All features of frequencies of two level discrete wavelet transform watermarking are combined to get back the watermark from the watermarked image. Watermarks have been added to the image by converting the binary image. These operations provide us with better results in getting back the watermark from watermarked image by attacking of the geometric and image processing.

Keywords: watermarking, DWT, DSWT, copy right protection, RGB

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Authors: Christian Gaigl, Martin Mensinger

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Once a fire resistance rating is necessary, it has to be proofed that the load bearing behavior of a steel construction under the exposure of fire still fits the static demands. High costs of passive fire protection, which satisfies the requirements, frequently result in a concrete solution. To optimize these expenses, one method is to determine the critical temperature according to the Eurocode DIN EN 1993-1-2. For this purpose, positive effects of hot-dip galvanized surface layers on the temperature development of steel members in the accidental situation of fire exposure has been investigated. The test results show a significant better heating behavior of hot-dip galvanized steel components compared to normal steel specimen. This leads in many cases to a R30 (30 minutes of ISO-fire) fire protection requirement of unprotected steel members and therefore to an economic added value.

Keywords: fire resistance, hot-dip galvanizing, steel constructions, R30 requirement, emissivity

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Authors: K. G. Sorokozherdyev, E. A. Efimov

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The socio-economic development of regions and countries is an important research issue. Today, in the face of many negative events in the global and regional economies, it is especially important to identify those areas that can serve as sources of economic growth and the basis for the well-being of the population. This study aims to identify the most important sectors of the economy of the Arkhangelsk region that can contribute to the socio-economic development of the region as a whole. For research, the Arkhangelsk region was taken as one of the typical Russian regions that do not have significant reserves of hydrocarbons nor there are located any large industrial complexes. In this regard, the question of possible origins of economic growth seems especially relevant. The basis of this study constitutes the distributed lag regression model (ADL model) developed by the authors, which is based on quarterly data on the socio-economic development of the Arkhangelsk region for the period 2004-2016. As a result, we obtained three equations reflecting the dynamics of three indicators of the socio-economic development of the region -the average wage, the regional GRP, and the birth rate. The influencing factors are the shares in GRP of such sectors as agriculture, mining, manufacturing, construction, wholesale and retail trade, hotels and restaurants, as well as the financial sector. The study showed that the greatest influence on the socio-economic development of the region is exerted by such industries as wholesale and retail trade, construction, and industrial sectors. The study can be the basis for forecasting and modeling the socio-economic development of the Arkhangelsk region in the short and medium term. It also can be helpful while analyzing the effectiveness of measures aimed at stimulating those or other industries of the region. The model can be used in developing a regional development strategy.

Keywords: regional economic development, regional sectoral structure, ADL model, Arkhangelsk region

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Authors: R. Buntem, K. Samkongngam

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The silicate glass was prepared using rice husk as the source of silica. The base composition of glass sample is composed of SiO2 (from rice husk ash), Na2CO3, K2CO3, ZnO, H3BO3, CaO, Al2O3 or Al, and CuO. Aluminum is used in place of Al2O3 in order to reduce Cu2+ to Cu+. The red color of Cu2O in the glass matrix was observed when the Al was added into the glass mixture. The expansion coefficients of the copper doped glass are in the range of 1.2 x 10-5-1.4x10-5 (ºC -1) which is common for the silicate glass. The finger prints of the bond vibrations were studied using IR spectroscopy. While the oxidation state and the coordination information of the copper ion in the glass matrix were investigated using X-ray absorption spectroscopy. From the data, Cu+ and Cu2+ exist in the glass matrix. The red particles of Cu2O can be formed in the glass matrix when enough aluminum was added.

Keywords: copper in glass, coordination information, silicate glass, XANES spectrum

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Authors: Disha Batra

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With the advent of economic reforms in India in 1992, economic journalism in India has undergone a sea change along with the rise in the Indian economy. Squeezing out of economic news stories (economy-in-general) over business (individual corporate stories) and financial (financial and equity markets) news stories have been done and are still underway. The objective of the study is to explore how economic journalism – news stories about macroeconomic issues or economy-in-general has changed over the past three decades with the emergence of LPG (Liberalisation, Privatisation, and Globalisation) policies in India. The purpose of the study is to examine to what extent business and financial news are constricting economic news which is done by analysing news stories and content of business papers. The study is based on the content analyses of the top three Indian business dailies as per IRS (Indian Readership Survey) 2017. The parametric analysis of the different parameters (source of information, sub-topic, a dominant source in economic news, layout and framing, etc.) has been done in order to come across with the distinct adaptations and modifications by these dailies. The paper significantly dwells upon the thematic analysis of these newspapers in order to explore and find out the coverage given to various sub-themes of EBF (economic, business, and financial) journalism. The study revealed that stories concerning broader issues about the economy which are likely to be of public concern had been dropped. The paper further indicates an upward trend for the stories concerning individual corporate, equity, and financial markets. Findings of the study raise concern over the indicated disparity between economic and business news stories which may further limit the information that people need in order to make well-versed decisions.

Keywords: business-papers, business news, economic news, financial news

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Authors: Mohammed Yagoub

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The new orientation to the market economy sponsored by the Algeria government in the early Nineties of the last century, and its desire to develop investment mechanisms and the promotion of development recently, the access into a partnership with the European Union, and the forthcoming accession to the World Trade Organization, foreign direct investment makes one of the most important means of opening up to foreign markets and bring technology and interact with globalization, this article we will discuss the impact of FDI on economic growth in the Algerian.

Keywords: economic, development, markets, FDI, displacement, globalization

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Authors: Sumeyra Sevim, Gulsum Gizem Topal, Mercan Merve Tengilimoglu-Metin, Banu Sancak, Mevlude Kizil

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Aflatoxin M1 (AFM1) represents mutagenic, carcinogenic, hepatotoxic and immunosuppressive properties, and shows adverse effect on human health. Recently the use of probiotics are focused on AFM1 detoxification because of the fact that probiotic strains have a binding ability to AFM1. Moreover, inulin is a prebiotic to improve the ability of probiotic bacteria. Therefore, the aim of the study is to investigate the effect of inulin on AFM1 binding ability of some probiotic bacteria. Yoghurt samples were manufactured by using skim milk powder artificially contaminated with AFM1 at concentration 100 pg/ml. Different samples were prepared for the study as: first sample consists of yoghurt starter bacteria (L. bulgaricus and S. thermophilus), the second sample consists of starter and L. plantarum, starter and B. bifidum ATCC were added to the third sample, starter and B. animalis ATCC 27672 were added to the forth sample, and the fifth sample is a binary culture consisted of starter and B. bifidum and B. animalis. Moreover, the same work groups were prepared with inulin (4%). The samples were incubated at 42°C for 4 hours, then stored for three different time interval (1,5 and 10 days). The toxin was measured by the ELISA. When inulin was added to work groups, there was significant change on AFM1 binding ability at least one sample in all groups except the one with L. plantarum (p<0.05). The highest levels of AFM1 binding ability (68.7%) in samples with inulin were found in the group which B. bifidum was added, whereas the lowest levels of AFM1 binding ability (44.4%) in samples with inulin was found in the fifth sample. The most impressive effect of inulin was found on B.bifidum. In this study, it was obtained that there was a significant effect of storage on AFM1 binding ability in the all groups with inulin except the one with L. plantarum (p<0.05). Consequently, results show that AFM1 detoxification by probiotics have a potential application to reduce toxin concentrations in yoghurt. Besides, inulin has different effects on AFM1 binding ability of each probiotic bacteria strain.

Keywords: aflatoxin M1, inulin, probiotics, storage

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Authors: Jihye Jeon

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This paper analyzes the political and economic issues that people with disabilities face related to globalization; how people with disabilities have been adapting globalization and surviving under worldwide competition system. It explains that economic globalization exacerbates inequality and deprivation of people with disabilities. The rising tide of neo-liberal welfare policies emphasized efficiency, downsized social expenditure for people with disabilities, excluded people with disabilities against labor market, and shifted them from welfare system to nothing. However, there have been people with disabilities' political responses to globalization, which are characterized by a global network of people with disabilities as well as participation to global governance. Their resistance can be seen as an attempt to tackle the problems that economic globalization has produced. It is necessary paradigm shift of disability policy from dependency represented by disability benefits to independency represented by labor market policies for people with disabilities.

Keywords: economic globalization, people with disability, deprivation, welfare cut, disability right movement, resistance

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Authors: Francis Chinweuba Eboh, Tobias Richards

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In this study, a waste-to-energy combined heat and power plant under construction was modelled and simulated with the Aspen Plus software. The base case process plant was evaluated and compared when integrated with flue gas condensation (FGC) in order to find out the impact of the exergy efficiency and economic feasibility as well as the effect of overall system exergy losses and revenue generated in the investigated plant. The economic evaluations were carried out using the vendor cost data from Aspen process economic analyser. The results indicate that 4 % increase in the exergy efficiency and 29 % reduction in the exergy loss in the flue gas were obtained when the flue gas condensation was incorporated. Furthermore, with the integrated FGC, the net present values (NPV) and income generated in the base process plant were increased by 29 % and 10 % respectively after 20 years of operation.

Keywords: economic feasibility, exergy efficiency, exergy losses, flue gas condensation, waste-to-energy

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Authors: Amin Mojiri, Akiyoshi Ohashi, Tomonori Kindaichi

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Synthetic domestic wastewater was treated via combining treatment methods, including electrochemical oxidation, adsorption, and sequencing batch reactor (SBR). In the upper part of the reactor, an anode and a cathode (Ti/RuO₂-IrO₂) were organized in parallel for the electrochemical oxidation procedure. Sodium sulfate (Na₂SO₄) with a concentration of 2.5 g/L was applied as the electrolyte. The voltage and current were fixed on 7.50 V and 0.40 A, respectively. Then, 15% working value of the reactor was filled by activated sludge, and 85% working value of the reactor was added with synthetic wastewater. Powdered cockleshell, 1.5 g/L, was added in the reactor to do ion-exchange. Response surface methodology was employed for statistical analysis. Reaction time (h) and pH were considered as independent factors. A total of 97.0% biochemical oxygen demand, 99.9% phosphorous and 88.6% cadmium were eliminated at the optimum reaction time (80.0 min) and pH (6.4).

Keywords: adsorption, electrochemical oxidation, metals, SBR

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Authors: Melissa Dickinson

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In the context of intense global competitiveness and urban transformations, today’s cities are faced with enormous challenges. There is increasing pressure among cities and regions to respond promptly and efficiently to fierce market progressions, to offer a competitive advantage, higher flexibility, and to be pro-active in creating future markets. Consequently, competition among cities and regions within the dynamics of a worldwide spatial economic system is growing fiercer, amplifying the importance of intangible capital in shaping the competitive and dynamic economic performance of organisations and firms. Accordingly, this study addresses how intangible capital influences urban economic development within an urban environment. Despite substantial research on the economic, and strategic determinants of urban economic development this multidimensional phenomenon remains to be one of the greatest challenges for economic geographers. The research provides a unique contribution, exploring intangible capital through the lenses of entrepreneurial capital and social-network capital. Drawing on business surveys and in-depth interviews with key stakeholders in the case of the three UK Core Cities Birmingham, Bristol and Cardiff. This paper critically considers how entrepreneurial capital and social-network capital is a crucial source of competitiveness and urban economic development. This paper deals with questions concerning the complexity of operationalizing ‘network capital’ in different urban settings and the challenges that reside in characterising its effects. The paper will highlight the role of institutions in facilitating urban economic development. Particular emphasis will be placed on exploring the roles formal and informal institutions have in delivering, supporting and nurturing entrepreneurial capital and social-network capital, to facilitate urban economic development. Discussions will then consider how institutions moderate and contribute to the economic development of urban areas, to provide implications in terms of future policy formulation in the context of large and medium sized cities.

Keywords: urban economic development, network capital, entrepreneurialism, institutions

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

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

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

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Authors: Zahra Bakhtiari

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Middle East countries confront a multitude of main environmental challenges which are inevitable. The unstable economic and political structure which dominates numerous middle East countries makes it difficult to react effectively to unfavorable climate change impacts. This study applies a qualitative methodology and relies on secondary literature aimed to investigate how countries in the Middle East are balancing economic security and climatic security in terms of budgeting, infrastructure investment, political engagement (domestically through discourses or internationally in terms of participation in international organizations or bargaining, etc.) There has been provided an outline of innovative measures in both economic and environmental fields that are in progress in the Middle East countries and what capacity they have for economic development and environmental adaptation, as well as what has already been performed. The primary outcome is that countries that rely more on infrastructure investment such as negative emissions technologies (NET) through green social capital enterprises and political engagement, especially nationally determined contributions (NDCs) commitments and United Nations Framework Convention on Climate Change (UNFCCC), experience more economic and climatological security balance in the Middle East. Since implementing these measures is not the same in all countries in the region, we see different levels of balance between climate security and economic security. The overall suggestion is that the collaboration of both the bottom-up and top-down approaches helps create strategic environmental strategies which are in line with the economic circumstances of each country and creates the desired balance.

Keywords: climate change, economic growth, sustainability, the Middle East, green economy, renewable energy

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Authors: Laila Algalal, Chen Xi

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The US dollar has long served as the world's primary reserve currency. However, this dominance faces growing challenges from internal US economic pressures and the rise of alternative currencies. Internally, issues like high debt, inflation, reduced competitiveness, and economic instability due to inequality in economic policies threaten the dollar's position. Externally, more countries are establishing alternative currencies, payment systems, and regional financial institutions to reduce dollar dependence. These drivers have contributed to a decline in the dollar's share of global foreign exchange reserves from 71% in 2001 to an estimated 58% in 2022. While this 13-percentage point drop took two decades, recent initiatives suggest de-dollarization could accelerate in the coming few decades. Efforts to establish non-dollar trade deals and alternative financial systems show more substantial progress compared to initiatives in the early 2000s. As the nature of the world system is anarchic, states make either individual or group efforts to guarantee their economic security and achieve their interests. Based on neoclassical realism, this paper analyzes both internal and external US economic factors driving current and future de-dollarization and the implications on the international monetary system, in addition to examining the motivation for such moves.

Keywords: de-dollarization, US dollar, monetary system, economic security, economic policies.

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Authors: Catherine Coron

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This paper first tries to scrutinize the diverse meanings and policies of inclusive education in the United Kingdom and France in the recent period thanks to a comparative analysis of the recent literature as well as the various definitions, legislation and good practices of inclusive education. The central question is to find the links between inclusion and economic wellbeing in the economic, social and cultural context of the two countries. The first part questions the economic, social and cultural meaning of the definitions thanks to a comparison between the various perspectives to envisage the notions of inclusion and wellbeing in the two countries in order to better understand the way they are interpreted according to each cultural background. The second part analyses the various policies implemented recently in order to determine the main characteristics, the differences, and the similarities, as well as the economic challenges in terms of wellbeing. The final goal of this paper is to identify the main economic, social and cultural values as regards sustainability in each country.

Keywords: education, inclusion, students with special needs, wellbeing

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Authors: Aurelia Samuel

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Socio-economic modelling approaches linked to water management have contributed to impact assessments of agricultural policies and management practices on water quality at catchment level. With an increasing interest in informing water management policy that considers complex links between socioeconomic factors, climate change, agricultural production, and water quality, several models have been developed and applied in the literature to capture these relationships. This paper offers an overview of socio-economic approaches that have been incorporated within an integrated framework. It also highlights how data gaps on socio-economic factors have been addressed using forecasting techniques. Findings of the review show that while integrated frameworks have the potential to account for complexities within dynamic systems, they generally do not provide direct, measurable financial impact of socio-economic factors on biophysical water parameters that affect water quality. The paper concludes with a recommendation that modelling framework is kept simple to make it more transparent and easier to capture the most important relationship.

Keywords: financial impact, integrated framework, socio-economic modelling, water quality

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Authors: Kemi Olalekan Oduntan

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

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

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Authors: Anupam Das

Abstract:

Although financial liberalization has been one of the most important policy prescriptions of international organizations like the World Bank and the IMF, the effect of financial liberalization on economic growth in developing countries is far from unanimous. Since the '80s, South Asian countries made a significant development in liberalization the financial sector. However, due to unavailability of a sufficient number of time series observations, the relationship between economic growth and financial development has not been investigated adequately. We aim to fill this gap by examining time series data of five developing countries from the South Asian region: Bangladesh, India, Pakistan, Sri Lanka, and Nepal. Applying the cointegration tests and Granger causality within the vector error correction model (VECM), we do not find unanimous evidence of financial development on positive economic growth. These results are helpful for developing countries which have been trying to liberalize the financial sector in recent decades.

Keywords: economic growth, financial development, Granger causality, South Asia

Procedia PDF Downloads 345

Authors: Mingbao Chen

Abstract:

The blue economy is a new comprehensive marine economy integrated with resources, industries, and regions, and is an upgraded version of the marine economy. The blue economy attaches great importance to the coordinated development of the ecological environment and the economy, which is an emerging economic form advocated by all countries in the world. This paper constructs the model including four variables：natural capital, economic capital, intellectual capital, cultural capital. Theoretically, this paper deduces the function mechanism of variables on economic growth, and empirically calculates the driving force and influence of the blue economy on the national economy by using data of China's 2006-2015 year. The results show that natural capital and economic capital remain the main factors of blue growth in the blue economy. And with the development of economic society and technological progress, the role of intellectual capital and cultural capital is bigger and bigger. Therefore, promoting the development of marine science and technology and culture is the focus of the future blue economic development.

Keywords: blue growth, natural capital, intellectual capital, cultural capital

Procedia PDF Downloads 129

Authors: Saba Kamalledin Moghadam, Amir M. Mortazavian, Aziz Homayouni-Rad

Abstract:

In the recent decade, bioactive-enriched foods, as well as natural health products, have caught the intention of the general and health-conscious population. In this regard, naturally occurring beneficial microorganisms have been successfully added to various dairy products during fermentation. Bifidobacteria, known as probiotics with a broad range of bioactivities, are commonly used in the dairy industry to naturally enrich dairy products. These bioactive metabolites are industrially and commercially important due to health-promoting activities on the consumers (e.g., anti-hypertensive, anti-diabetic, anti-oxidative, immune-modulatory, anti-cholesterolemic, or microbiome modulation, etcetera). This review aims to discuss the potential of bifidobacteria for the elaboration of dairy foods with functional properties and added value.

Keywords: dairy, probiotic, postbiotic, bifidobacteria, bifidobacterial postbiotic

Procedia PDF Downloads 144