Search results for: economic theory

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: Vilem Paril, Dominika Tothova

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This paper discusses the value theory in cultural heritage and the value theory in environmental economics. Two economic views of the value theory are compared within the field of cultural heritage maintenance and within the field of the environment. The main aims are to find common features in these two differently structured theories under the layer of differently defined terms as well as really differing features of these two approaches, to clear the confusion which stems from different terminology as in fact these terms capture the same aspects of reality and to show possible inspiration these two perspectives can offer one another. Another aim is to present these two value systems in one value framework. First, important moments of the value theory from the economic perspective are presented, leading to the marginal revolution of (not only) the Austrian School. Then the theory of value within cultural heritage and environmental economics are explored. Finally, individual approaches are compared and their potential mutual inspiration searched for.

Keywords: cultural heritage, environmental economics, existence value, value theory

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Authors: Martha Matashu

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This study examined corporate governance and economic growth trends in Sub Saharan African (SSA) countries. The need for corporate governance arise from the fact that the day to day running of the business is done by management who in accordance with the neoclassical theory and agency theory have inborn tendencies to use the resources of the company to their advantage. This prevails against a background where the endogenous economic growth theory hold the assumption that economic growth is an outcome of the overall performance of all companies within an economy. This suggest that corporate governance at firm level determine economic growth through its impact on the overall performance. Nevertheless, insight into literature suggest that efforts to promote corporate governance in countries across SSA since the 1980s to date have not yet yielded desired outcomes. The board responsibilities, shareholder rights, disclosure and transparency, protection of minority shareholder, and liability of directors were thus used as proxies of corporate governance because these are believed to be mechanisms that are believed to enhance company performance their effect on enhancing accountability and transparency. Using panel data techniques, corporate governance and economic growth data for 29 SSA countries from the period of 2008 to 2019 was analysed. The findings revealed declining economic growth trend despite an increase in corporate governance aspects such as director liability, shareholders’ rights, and protection of minority shareholder in SSA countries. These findings are in contradiction to the popularly held theoretical principles of economic growth and corporate governance. The study reached the conclusion thata nonlinearrelationship exists between corporate governance and economic growth within the selectedSSA countries during the period under investigation. This study thus recommends that measures should be taken to create conditions for corporate governance that would bolster significant positive contributions to economic growth in the region.

Keywords: corporate governance, economic growth, sub saharan Africa, agency theory, endogenous theory

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Authors: Tao Peng

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This paper presents a holistic model of political economy based on Daoism – the foundational philosophy of classical Chinese epistemology. Daoism is both comprehensive and subtle in its manifestations and applications in all aspects of nature and society. Based on Daoist creation theory of the universe, life theory and five element functioning theory, a holistic model in economics with minimal assumptions and independent of ideology are constructed. Under this framework, different schools of economics, such as neo-liberal, Marxism, and Austrian school, are explored and shed new light on. Economic and financial predictions can be realized in applications to Qi Men Dun Jia. This framework can provide guidelines and inspirations to economic modelling, economic policies formulation and strategy development and guide society towards a more sustainable future.

Keywords: daoism, economics, holistic, philosophy

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Authors: Randa Ismail Sharafeddine

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The Islamic economic system is distinctive in that it implicitly recognizes money as a separate, independent component of production capable of assuming risk and so entitled to the same reward as other Entrepreneurial Factors of Production (EFP). Conventional theory does not identify money capital explicitly as a component of production; rather, interest is recognized as a reward for capital, the interest rate is the cost of money capital, and it is also seen as a cost of physical capital. The conventional theory of production examines how diverse non-entrepreneurial resources (Land, Labor, and Capital) are selected; however, the economic theory community is largely unaware of the reasons why these resources choose to remain as non-entrepreneurial resources as opposed to becoming entrepreneurial resources. Should land, labor, and financial asset owners choose to work for others in return for rent, income, or interest, or should they engage in entrepreneurial risk-taking in order to profit. This is a decision made often in the actual world, but it has never been effectively treated in economic theory. This article will conduct a critical analysis of the conventional classification of factors of production and propose a classification for resource allocation and income distribution (Rent, Wages, Interest, and Profits) that is more rational, even within the conventional theoretical framework for evaluating and developing production and distribution theories. Money is an essential component of production in an Islamic economy, and it must be used to sustain economic activity.

Keywords: financial capital, production theory, distribution theory, economic activity, riba avoidance, institution of participation

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Authors: Bubaker F. Shareia, Almuetaz R. Boubakr

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The aim of this paper is to show how Libya’s legal, economic, political, social, and cultural systems have shaped Libyan development. This will provide a background to develop an understanding of the current role of the accounting information system in Libya and the challenges facing the design of the aeronautical information system to meet the development needs of Libya. Our knowledge of the unified economic operating systems of the world paves the way for the economic development of every developing country. In order to achieve this understanding, every developing country should be provided with a high-efficiency communications system in order to be able to interact globally. From the point of view of the theory of globalization, Libya's understanding of its socio-economic and political systems is vital in order to be able to adopt and apply accounting techniques that will assist in the economic development of Libya.

Keywords: accounting, economic development, globalisation theory, information system

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Authors: Muhamad Nugraha

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Economic growth always correlate positively with the magnitude of the unemployment rate. This is caused by labor which one of important variable to keep growth in the real sector of the region. Meanwhile, the economic structure in districts of Jember showed an increase of economic activity began to shift towards the industrial sector and some other economic sectors, so they have an affects to considerations for policy makers to increase economic growth in Jember as an autonomous region in East Java Province. At the fact, SMEs is among the factors driving economic growth in the region. This is shown by the high amount of SMEs. However, employment in the sector grew slightly slowed. It is caused by a lack of productivity in SMEs. Through the analysis of the transformation of economic structure theory, and the theory of Triple Helix using descriptive analytical method Location Quotient and Shift - Share, found that the results of the economic structure in Jember slowly shifting from the agricultural sector to the industrial sector, because it is dominated by trade sector, hotel and restaurant sector. In addition, SMEs is the potential sector of economic growth in Jember. While to maximizing role and functions of the institution's Research and Development Center of SMEs, there are three points to be known, that are Business Landscape, Business Architecture and Value Added.

Keywords: economic growth, SMEs, labor, Research and Development Center of SMEs

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Authors: A. Briseno, A, Zorrilla

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Firms are increasingly responding to social and environmental claims from society. Practices oriented to attend issues such as poverty, work equality, or renewable energy, are being implemented more frequently by firms to address impacts on sustainability. However, questions remain on how the responses of firms vary across industries and regions between the social and the economic objectives. Using concepts from organizational theory and social network theory, this paper aims to create a theoretical framework that explains the internal and external influences that make a firm establish its objective. The framework explains why firms might have a different objective orientation in terms of its economic and social prioritization.

Keywords: organizational identity, social network theory, firm objective, value maximization, social responsibility

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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: Zhai Yujia

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None of the scholars and researchers has ever stepped into this field, though there are quite a few papers worked on various topics relevant to cultural and economic globalization separately. Economic globalization is earlier than cultural globalization. Since the invention of currency, people have had the sense of making money for the purpose of living, supporting their families, or other personal reasons. Their strong desire for earning a living is one of the incentives to propel the trade, tourism and other related economic activities that provide the service within the homeland at first and expand into the whole world later, as the global markets grow and mature. The need for operation impels international communication or interaction. To achieve this, it is vital to realize or recognize other cultures to some degree, concluding language, customs, social etiquette and history of different nations. All this drives the cultural globalization process. In contrast, it is clear that the development of cultural globalization does accelerate the process of economic globalization in return. Under the guidance of Skopos theory (first proposed by Hans Vermeer, and its core principle is that the translation process is determined by the purpose), this paper aims to demonstrate that cultural globalization is not a process in isolation by analyzing its driving forces and retroaction thoroughly with an approach of overview. It intertwines with economic globalization. The two push each other to proper gradually during their development, serving as the indispensable parts of the globalization process.

Keywords: cultural globalization, driving forces, retroaction, Skopos theory

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Authors: Masoud Charkhabi

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We examine trade theory with this motivation. The full set of World Trade Organization data are organized into country-year pairs, each treated as a different entity. Topological Data Analysis reveals that among the 16 region and 240 region-year pairs there exists in fact a distinguishable group of region-period pairs. The generally accepted periods of shifts from dissimilar-dissimilar to similar-similar trade in goods among regions are examined from this new perspective. The period breaks are treated as cumulative and are flexible. This type of all-subsets analysis is motivated from computer science and is made possible with Lossy Compression and Graph Theory. The results question many patterns in similar-similar to dissimilar-dissimilar trade. They also show indications of economic shifts that only later become evident in other economic metrics.

Keywords: econometrics, globalization, network science, topological data, analysis, trade theory, visualization, world trade

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Authors: K. P. K. S. Lahirushan, W. G. V. Gunasekara

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Main purpose of this study is to identifying the impact of government expenditure on economic growth in Asian Countries. Consequently, Fist, objective is to analyze whether government expenditure causes economic growth in Asian countries vice versa and then scrutinizing long-run equilibrium relationship exists between them. The study completely based on secondary data. The methodology being quantitative that includes econometrical techniques of cointegration, panel fixed effects model and granger causality in the context of panel data of Asian countries; Singapore, Malaysia, Thailand, South Korea, Japan, China, Sri Lanka, India and Bhutan with 44 observations in each country, totaling to 396 observations from 1970 to 2013. The model used is the random effects panel OLS model. As with the above methodology, the study found the fascinating outcome. At first, empirical findings exhibit a momentous positive impact of government expenditure on Gross Domestic Production in Asian region. Secondly, government expenditure and economic growth indicate a long-run relationship in Asian countries. In conclusion, there is a unidirectional causality from economic growth to government expenditure and government expenditure to economic growth in Asian countries. Hence the study is validated that it is in line with the Keynesian theory and Wagner’s law as well. Consequently, it can be concluded that role of government would play a vital role in economic growth of Asian Countries .However; if government expenditure did not figure out with the economy’s needs it might be considerably inspiration the economy in a negative way so that society bears the costs.

Keywords: Asian countries, government expenditure, Keynesian theory, Wagner’s theory, random effects panel ols model

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Authors: Raihan Zahirah Mauludy Ridwan, Frisca Devi Choirina

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Indonesia with its former presidents has enhanced the bilateral cooperation also multilateral cooperation in terms of economy but the result was not significant towards eradicating poverty, unemployment, income inequality, and economic growth. To eradicate these problems, President Joko Widodo through his several points of Nawacita wants to boost Indonesia’s economic relationship and cooperation which manifested in “Economic Diplomacy” as one of Indonesia’s foreign policy priority and he pitches it in international forums. The economic diplomacy does not only attracts prospective countries but also attracts the foreign businessman and investors. The economic diplomacy includes four sectors which are vital for economic growth, one of them is investment. This paper would like to answer how economic diplomacy can have significant impact towards social welfare, equity and economic growth especially in Indonesia. The purpose of this paper is to explore the role of economic diplomacy and its impact toward Indonesia’s welfare, equity, and economic growth. This paper uses the theory of economic diplomacy to link the current international political economic sphere and the impact of economic diplomacy for Indonesia through case study method. The paper affirms that economic diplomacy in investment sector does have significant impact, especially in the development of infrastructures, foreign direct investment in several sectors, and food security.

Keywords: economic diplomacy, economic growth, equity, Indonesia, Joko Widodo, social welfare

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Authors: Khalid Yousuf Ahmed

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At the beginning of growth period, East Asian countries achieved impressive economic growth for the decades. They transformed from agricultural economy toward industrialization and contributed to dynamic structural transformation. The achievements were driven by government-led development policies that implemented effective innovation policy to boost technological capability of local firms. Recently, most Sub-Saharan African have been showing sustainable growth. Exceptionally, Ethiopia has been recording double-digit growth for a decade. Hence, Ethiopia has claimed to follow the footstep of East Asia development model. The study is going to examine whether Ethiopia can replicate innovation and economic growth model of East Asia by using Japan, Taiwan, South Korea and China as a case to illustrate their model of growth. This research will be based on empirical data gathering and extended theory of national innovation system and economic growth theory. Moreover, the methodology is based on Knowledge Assessment Methodology (KAM) and also employing cross-countries regression analysis. The results explained that there is a significant relationship between innovation indicators and economic growth in East Asian countries while the relationship is non-existing for Ethiopia except implementing similar policies and achieving similar growth trend. Therefore, Ethiopia needs to introduce inclusive policies that give priority to improving human capital and invest on the knowledge-based economy to replicate East Asian Model.

Keywords: economic growth, FDI, endogenous growth theory, East Asia model

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Authors: Antonio Abatemarco, Francesca Stroffolini

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In the economic literature, Rawls’ Theory of Justice is usually interpreted in a two-stage setting, where a priority to the worst off individual is imposed as a distributive value judgment. In this paper, instead, we model Rawls’ Theory in a three-stage setting, that is, a separating line is drawn between the original position, the educational stage, and the working life. Hence, in this paper, we challenge the common interpretation of Rawls’ Theory of Justice as Fairness by showing that this Theory goes well beyond the definition of a distributive value judgment, in such a way as to embrace efficiency issues as well. In our model, inequalities are shown to be permitted as far as they stimulate a greater effort in education in the population, and so economic growth. To our knowledge, this is the only possibility for the inequality to be ‘bought’ by both the most-, and above all, the least-advantaged individual as suggested by the Difference Principle. Finally, by recalling the old tradition of ‘universal ex-post efficiency’, we show that a unique optimal social contract does not exist behind the veil of ignorance; more precisely, the sole set of potentially Rawls-optimal social contracts can be identified a priori, and partial justice orderings derived accordingly.

Keywords: justice, Rawls, inequality, social contract

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Authors: Paulin Mbecke

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Research Issue: Under economic constraints, socio-economic conditions of households worsen discounting child’s wellbeing to the bottom of many governments and households’ priority lists. In such situation, many governments fail to rebalance priorities in providing services such as education, housing and social security which are the prerequisites for the wellbeing of children. Consequently, many households struggle to respond to basic needs especially those of children. Although economic conditions play a crucial role in creating prosperity or poverty in households and therefore the wellbeing or misery for children; they are not the sole cause. Research Insights: The review of the South African Index of Multiple Deprivation and the South African Child Gauge establish the extent to which economic conditions impact on the wellbeing or misery of children. The analysis of social, cultural, environmental and structural theories demonstrates that non-economic factors contribute equally to the wellbeing or misery of children, yet, they are disregarded. In addition, the assessment of a child abuse database proves a weak correlation between economic factors (prosperity or poverty) and child’s wellbeing or misery. Theoretical Implications: Through critical social research theory and modelling, the paper proposes a Theory-Based Model that combines different factors to facilitate the understanding of child’s wellbeing or misery. Policy Implications: The proposed model assists in broad policy and decision making and reviews processes in promoting child’s wellbeing and in preventing, intervening and managing child’s misery with regard to education, housing, and social security.

Keywords: children, child’s misery, child’s wellbeing, household’s despair, household’s prosperity

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Authors: Daniel Nkrumah

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The Magic Bullet theory was a popular media effect theory that defined the power of the mass media in altering beliefs and perceptions of its audiences. However, following the People's Choice study, the theory was said to have been disproved and was supplanted by the Two-Step Flow Theory. This paper examines the relevance of the Magic Bullet theory in Africa and establishes whether it is still relevant in Africa's media spaces and societies. Using selected cases on the continent, it adopts a grounded theory approach and explores a new theoretical model that attempts to enforce an argument that the Two-Step Flow theory though important and valid, was ill-conceived as a direct replacement to the Magic Bullet theory.

Keywords: magic bullet theory, two-step flow theory, media effects, african media

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Authors: Arne Fagerstrom, Gary Cunningham, Fredrik Hartwig

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In this paper, a theory of sustainable enterprises, sustainable enterprise theory (SET), is developed. The sustainable enterprise theory can only be a valid theory if knowledge about life and nature is complete. Knowledge limitations should not stop enterprises from doing business with a goal of better long-term life on earth. Life demands stewardship of the resources used during one’s lifetime. This paper develops a model influenced by (the classical) enterprise theory and resource theory that includes more than money in the business activities of an enterprise. The sustainable enterprise theory is then used in an analysis of accountability and in discussions about sustainable businesses.

Keywords: sustainable business, sustainability reporting, sustainable values, theory of the firm

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Authors: Abel Kahuni

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Cooperative game theory (CGT) postulates that groups of players are crucial units of the decision-making and impose cooperative behaviour. Accordingly, cooperative games are regarded as competition between coalitions of players, rather than between individual players. However, the basic supposition in CGT is that the cooperative is formed by all players. One of the emerging questions in CGT is how to develop cooperatives and fairly allocate the payoff. Cooperative Game Theory (CGT) may provide a framework and insights into the ways small holder farmers in rural resettlements may develop competitive advantage through marketing cooperatives. This conceptual paper proposes a non-competition model for small holder farmers of homogenous agri-commodity under CGT conditions. This paper will also provide brief insights into to the theory of cooperative games in-order to generate an understanding of CGT, cooperative marketing gains and its application in small holder farming arrangements. Accordingly, the objective is to provide a basic introduction to this theory in connection with economic competitive theories in the context of small holder farmers. The key value proposition of CGT is the equitable and fair sharing of cooperative gains.

Keywords: game theory, cooperative game theory, cooperatives, competition

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Authors: Puthsodary Tat

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Democracy has been categorially accepted and used as foreign and domestic policy agendas for the hope of peace, economic growth and prosperity for more than 25 years in Cambodia. However, the country is now in the grip of dictatorship, human rights violations, and prospective economic sanctions. This paper examines different perceptions and experiences of democratic assistance. In this study, the author employs discourse theory, idealism and realism as a theory-based methodology for debating and assessing the implications of democratization. Discourse theory is used to establish a platform for understanding discursive formations, body of knowledge and the games of truth of democracy. Idealist approaches give rational arguments for adopting key tenets that work well on the ground. In contrast, realism allows for some sweeping critiques of utopian ideal and offers particular views on why Western hegemonic missions do not work well. From idealist views, the research finds that Cambodian people still believe that democracy is a prima facie universality for peace, growth and prosperity. From realism, democratization is on the brink of death in three reasons. Firstly, there are tensions between Western and local discourses about democratic values and norms. Secondly, democratic tenets have been undermined by the ruling party-controlled courts, corruption, structural oppression and political patronage-based institutions. The third pitfall is partly associated with foreign aid dependency and geopolitical power struggles in the region. Finally, the study offers a precise mosaic of democratic principles that may be used to avoid a future geopolitical and economic crisis.

Keywords: corruption, democracy, democratic principles, discourse theory, discursive formations, foreign aid dependency, games of truth, geopolitical and economic crisis, geopolitical power struggle, hegemonic mission, idealism, realism, utopian ideal

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Authors: Eva Kotlánová

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After recession that began in 2007 in the United States and subsequently spilled over the Europe we could expect recovery of economic growth. According to the last estimation of economic progress of European countries, this recovery is not strong enough. Among others, it will depend on economic policy, where and in which way, the economic indicators will proceed. Economic theories postulate that the economic subjects prefer stably, continual economic policy without repeated and strong fluctuations. This policy is perceived as support of economic growth. Mostly in crises period, when the government must cope with consequences of recession, the economic policy becomes unpredictable for many subjects and economic policy uncertainty grows, which have negative influence on economic growth. The aim of this paper is to use panel regression to prove or disprove this hypothesis on the example of five largest European economies in the period 2008–2012.

Keywords: economic crises in Europe, economic policy, uncertainty, panel analysis regression

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Authors: Rosa Hendijani, Mohammadhesam Hajighasemi

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As of late, the sharing economy has become an important type of business model. Online taxi services are one example that has grown rapidly around the world. This study examines the factors influencing the use of online taxis as one form of IT-enabled sharing services based on the theory of planned behavior (TPB). Based on the theory of planned behavior, these factors can be divided into three categories, including the ones related to attitude (e.g., image and perceived usefulness), normative believes (e.g., subjective norms), and behavioral control (e.g., technology facilitating conditions and self-efficacy). Three other factors were also considered based on the literature, including perceived economic benefits, openness towards using shared services, and perceived availability. The effect of all these variables was tested both directly and indirectly through intention as the mediating variable. A survey method was used to test the research hypotheses. In total, 361 individuals partook in the study. The results of a multiple regression analysis on behavior showed that perceived economic benefits, compatibility, and subjective norms were important factors influencing behavior among online taxi users. In addition, intention partially mediated the effect of perceived economic benefits and compatibility on behavior. It can be concluded that perceived economic benefits, compatibility, and subjective norms are the three main factors that influence behavior among online taxi users.

Keywords: collaborative consumption, IT-enabled sharing services model, online taxi, sharing economy, theory of planned behavior

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Authors: Pauline E. Ngo-Henha

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Existing turnover intention theories are reviewed in this paper. This review was conducted with the help of the search keyword “turnover intention theories” in Google Scholar during the month of July 2017. These theories include: The Theory of Organizational Equilibrium (TOE), Social Exchange Theory, Job Embeddedness Theory, Herzberg’s Two-Factor Theory, the Resource-Based View, Equity Theory, Human Capital Theory, and the Expectancy Theory. One of the limitations of this review paper is that data were only collected from Google Scholar where many papers were sometimes not freely accessible. However, this paper attempts to contribute to the research in clarifying the distinction between theories and models in the context of turnover intention.

Keywords: Literature Review, Theory, Turnover, Turnover intention

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Authors: Wen-Shan Lin, Shu-Lu Hsu

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Environmental concern and consumer rights have entailed e-tailers to adopt better strategies to facilitate product returns from customers. As the demand for reverse logistics (RL) continues to grow, little is known about what motivates e-tailers to enhance their RL capabilities and about the role RL capabilities plays in enabling e-tailers to achieve better customer satisfaction and economic performance. Based on resource-based theory and institutional theory, this article proposes that the following factors play a critical role in influencing the RL capability of e-tailers: (a) Financial resource commitment to RL, (b) managerial resource commitment to RL, and (c) institutional pressure to implement RL. Based on the role of these factors, the study provides a framework and propositions that serve to guide future research addressing the link among resources, institutional pressure, and RL capability.

Keywords: reverse logistics, e-tailing, resource-based theory, institutional theory

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Authors: Sibo Lu, Zhongkai Qian

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This study endeavors to articulate a spectrum of capitalist transformation from a politico-economic perspective, categorizing the development of capitalism into pre-modern, modern, and post-modern stages while examining the transitions between these states. It critically engages with the concepts of pre-modernity, modernity, and post-modernity, typically aligned with cultural studies, to shed light on their objective changes in the politico-economic realm. Post-modernity, in this context, is associated with the transition to high-value-added services and economic growth in ‘developed’ countries amidst globalization, framing a ‘neoliberal’ economic transformation. The paper scrutinizes the neoliberal economic shifts in the latter half of the 20th century as part of the post-modern state, arguing against viewing post-modernity merely as a cultural or subjective interpretative stance. Instead, it is posited as a concrete politico-economic phase marked by the dominance of post-Fordist systems. Through integrating insights from the political economy with continental philosophy, this research provides a nuanced analysis of capitalism's evolution, challenging conventional class analyses under the capitalist system and fostering a broader understanding of socio-economic paradigms.

Keywords: post marxism, critical theory, political economy, capitalism transformation

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Authors: Nasrin Akter, Prem Chhetri, Shams Rahman

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The present study tested Ajzen’s Theory of Planned Behavior (TPB) model to explain the formation of business customers’ intention to use 3PL services in Bangladesh. The findings show that the TPB model has a good fit to the data. Based on theoretical support and suggested modification indices, a refined TPB model was developed afterwards which provides a better predictive power for intention. Consistent with the theory, the results of a structural equation analysis revealed that the intention to use 3PL services is predicted by attitude and subjective norms but not by perceived behavioral control. Further investigation indicated that the paths between (attitude and intention) and (subjective norms and intention) did not statistically differ between 3PL user and non-user. Findings of this research provide an evidence base to formulate business strategies to increase the use of 3PL services in Bangladesh to enhance productivity and to gain economic efficiency.

Keywords: Bangladesh, intention, third-party logistics, Theory of Planned Behavior

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Authors: Philippe Gugler

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This contribution reflects some important questions regarding inter alia the economic development occurring in the light of the ASEAN’s goal of creating the ASEAN Economic Community (AEC) by 2015. We observe a continuing economic growth of GDP per capita over recent years despite the negative effects of the world economic crisis. IMF forecasts indicate that this trend will continue. The paper focuses on the analysis and comparison of economic growth trends of ASEAN countries.

Keywords: ASEAN, convergence, divergence, economic growth, globalization, integration

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Authors: Akunna Agunwah, Kevin Gallimore, Kathryn Kinmond

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Entrepreneurship is widely associated and seen as a vehicle for economic growth; however, different scholars have studied entrepreneurship from various perspectives, resulting in multiple definitions. It is surprising to know most entrepreneurship definition does not incorporate growth as part of their definition of entrepreneurship. Economic growth is engineered by the activities of the entrepreneurs. The purpose of the present theoretical study is to explore the working practices of the successful entrepreneurs towards achieving business growth by understanding the experiences of the entrepreneur using the Theory of Planned Behaviour (TPB) as a lens. Ten successful entrepreneurs in the North West of England in various business sectors were interviewed using semi-structured interview method. The recorded audio interviews transcribed and subsequently evaluated using the thematic deductive technique (qualitative approach). The themes were examined using Theory of Planned Behaviour to ascertain the presence of the three intentional antecedents (attitude, subjective norms, and perceived behavioural control). The findings categorised in two folds, firstly, it was observed that the three intentional antecedents, which make up Theory of Planned Behaviour were evident in the transcript. Secondly, the entrepreneurs are most concerned with achieving a state of freedom and realising their visions and ambitions. Nevertheless, the entrepreneur employed these intentional antecedents to enhance business growth. In conclusion, the work presented here showed a novel way of understanding the working practices and experiences of the entrepreneur using the theory of planned behaviour in qualitative approach towards enhancing business growth. There exist few qualitative studies in entrepreneurship research. In addition, this work applies a novel approach to studying the experience of the entrepreneurs by examining the working practices of the successful entrepreneurs in the North-West England through the lens of the theory of planned behaviour. Given the findings regarding TPB as a lens in the study, the entrepreneur does not differentiate between the categories of the antecedents reasonably sees them as processes that can be utilised to enhance business growth.

Keywords: business growth, experience, interpretive, theory of planned behaviour

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Authors: Wang Zhiwei, Wang Weiwu

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The process of urbanization in China has entered a critical period of transformation from urban expansion and construction to delicate urban design, thus forming a new direction in the field of urban design. So far, catalyst theory has become a prominent guiding strategy in urban planning and design. In this paper, under the background of urban renewal, catalyst theory is taken as the guiding ideology to explore the method of urban design in shouxian county. Firstly, this study briefly introduces and analyzes the catalyst theory. Through field investigation, it is found that the city has a large number of idle Spaces, such as abandoned factories and schools. In the design, the idle Spaces in the county town are utilized and interlinked in space, and functional interaction is carried out from the pattern of the county town. On the one hand, the results showed that the catalyst theory can enhance the vitality of the linear street space with a small amount of monomer construction. On the other hand, the city can also increase the cultural and economic sites of the city without damaging the historical relics and the sense of alterations of the ancient city, to improve the quality of life and quality of life of citizens. The city micro-transformation represented by catalyst theory can help ancient cities like shouxian to realize the activation of the old city and realize the gradual development.

Keywords: catalytic theory, urban design, China's ancient city, Renaissance

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Authors: Derya Güler Aydin, Bahar Araz Takay

Abstract:

Two different forms of competition theories can be distinguished: Those theories that emphasize the equilibrating forces created by competition, and those emphasizing the disequilibrating forces. This difference can be attributed, among other things, to the differences regarding the functioning of the market economy; that is to say, the basic problem here is whether competition should be understood as a static state or a dynamic process. This study aims to analyze the dynamic competition theories by K. Marx and J. A. Schumpeter and neo- Schumperians all of which focus on the dynamic role played by competition through creating disequilibria, endogenous structural change and social transformation as a distinguishing characteristic of the market system. With this aim, in the first section, after examining the static, neoclassical competition theory, both Marx‟s theory, which is based on profit rate differentials, and Schumpeter‟s theory, which is based on the notion of “creative destruction”, will be discussed. In the second section, the long-term fluctuations, based on creative gales of destruction, the concept will be examined under the framework of techno-economic paradigm. It is argued that the dynamic, even disequilibrium tendencies created by the competition process should be regarded in both understanding the working of capitalism and social transformation of the system.

Keywords: competition, techno-enomic paradigm, Schumpeter, social evolution

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