Search results for: growth curve
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 7053

Search results for: growth curve

6843 Maternal Health Outcome and Economic Growth in Sub-Saharan Africa: A Dynamic Panel Analysis

Authors: Okwan Frank

Abstract:

Maternal health outcome is one of the major population development challenges in Sub-Saharan Africa. The region has the highest maternal mortality ratio, despite the progressive economic growth in the region during the global economic crisis. It has been hypothesized that increase in economic growth will reduce the level of maternal mortality. The purpose of this study is to investigate the existence of the negative relationship between health outcome proxy by maternal mortality ratio and economic growth in Sub-Saharan Africa. The study used the Pooled Mean Group estimator of ARDL Autoregressive Distributed Lag (ARDL) and the Kao test for cointegration to examine the short-run and long-run relationship between maternal mortality and economic growth. The results of the cointegration test showed the existence of a long-run relationship between the variables considered for the study. The long-run result of the Pooled Mean group estimates confirmed the hypothesis of an inverse relationship between maternal health outcome proxy by maternal mortality ratio and economic growth proxy by Gross Domestic Product (GDP) per capita. Thus increasing economic growth by investing in the health care systems to reduce pregnancy and childbirth complications will help reduce maternal mortality in the sub-region.

Keywords: economic growth, maternal mortality, pool mean group, Sub-Saharan Africa

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6842 Phase Stability and Grain Growth Kinetics of Oxide Dispersed CoCrFeMnNi

Authors: Prangya P. Sahoo, B. S. Murty

Abstract:

The present study deals with phase evolution of oxide dispersed CoCrFeMnNi high entropy alloy as a function of amount of added Y2O3 during mechanical alloying and analysis of grain growth kinetics of CoCrFeMnNi high entropy alloy without and with oxide dispersion. Mechanical alloying of CoCrFeMnNi resulted in a single FCC phase. However, evolution of chromium carbide was observed after heat treatment between 1073 and 1473 K. Comparison of grain growth time exponents and activation energy barrier is also reported. Micro structural investigations, using electron microscopy and EBSD techniques, were carried out to confirm the enhanced grain growth resistance which is attributed to the presence oxide dispersoids.

Keywords: grain growth kinetics, mechanical alloying, oxide dispersion, phase evolution

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6841 An Assessment of Poland's Current Macroeconomic Conditions to Determine Whether It Is in a Middle Income Trap

Authors: Bozena Leven

Abstract:

The middle-income trap (MIT) describes a situation faced by countries at a relatively mature stage of development that often poses an obstacle to sustainable long-term growth. MIT is characterized by declining factor productivity from the exhaustion of labor intensive, import and Foreign Direct Investment (FDI) based strategies when middle-income status is achieved. In this paper, we focus on MIT and Poland. In the past two decades, Poland experienced steady growth based largely on imported technologies and low-cost labor. Recently, that economic growth has slowed, prompting economists to ask whether Poland is experiencing MIT. To answer this question, we analyze changes in investment in Poland; specifically- its growth and composition – as well as savings, FDI, educational attainments of the labor force, development of new technologies and products, the role of imports, diversification of exports, and product complexity. We also examine the development of modern infrastructure, institutions (including legal environment) and demographic changes in Poland that support growth. Our findings indicate that certain factors consistent with MIT are gaining importance in Poland, and represent a challenge to that country’s future growth rate.

Keywords: engines of growth, factor productivity, middle income trap, sustainable development

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6840 Reconstruction of a Genome-Scale Metabolic Model to Simulate Uncoupled Growth of Zymomonas mobilis

Authors: Maryam Saeidi, Ehsan Motamedian, Seyed Abbas Shojaosadati

Abstract:

Zymomonas mobilis is known as an example of the uncoupled growth phenomenon. This microorganism also has a unique metabolism that degrades glucose by the Entner–Doudoroff (ED) pathway. In this paper, a genome-scale metabolic model including 434 genes, 757 reactions and 691 metabolites was reconstructed to simulate uncoupled growth and study its effect on flux distribution in the central metabolism. The model properly predicted that ATPase was activated in experimental growth yields of Z. mobilis. Flux distribution obtained from model indicates that the major carbon flux passed through ED pathway that resulted in the production of ethanol. Small amounts of carbon source were entered into pentose phosphate pathway and TCA cycle to produce biomass precursors. Predicted flux distribution was in good agreement with experimental data. The model results also indicated that Z. mobilis metabolism is able to produce biomass with maximum growth yield of 123.7 g (mol glucose)-1 if ATP synthase is coupled with growth and produces 82 mmol ATP gDCW-1h-1. Coupling the growth and energy reduced ethanol secretion and changed the flux distribution to produce biomass precursors.

Keywords: genome-scale metabolic model, Zymomonas mobilis, uncoupled growth, flux distribution, ATP dissipation

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6839 A Study of Population Growth Models and Future Population of India

Authors: Sheena K. J., Jyoti Badge, Sayed Mohammed Zeeshan

Abstract:

A Comparative Study of Exponential and Logistic Population Growth Models in India India is the second most populous city in the world, just behind China, and is going to be in the first place by next year. The Indian population has remarkably at higher rate than the other countries from the past 20 years. There were many scientists and demographers who has formulated various models of population growth in order to study and predict the future population. Some of the models are Fibonacci population growth model, Exponential growth model, Logistic growth model, Lotka-Volterra model, etc. These models have been effective in the past to an extent in predicting the population. However, it is essential to have a detailed comparative study between the population models to come out with a more accurate one. Having said that, this research study helps to analyze and compare the two population models under consideration - exponential and logistic growth models, thereby identifying the most effective one. Using the census data of 2011, the approximate population for 2016 to 2031 are calculated for 20 Indian states using both the models, compared and recorded the data with the actual population. On comparing the results of both models, it is found that logistic population model is more accurate than the exponential model, and using this model, we can predict the future population in a more effective way. This will give an insight to the researchers about the effective models of population and how effective these population models are in predicting the future population.

Keywords: population growth, population models, exponential model, logistic model, fibonacci model, lotka-volterra model, future population prediction, demographers

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6838 Financial Development, FDI, and Intellectual Property on Economic Growth in Iran

Authors: Fatemeh Fahimifar, Rouhollah Nazari, Seyed Mohammad Reza Hosseini

Abstract:

Achieving an adaptable rate of economic growth has always been at the forefront of Iran development programs. In order to increase welfare level of the people in the society, all economic and social indices should be improved which is possible just in case of country's economic development and growth. While developing countries has realized the gap between developed countries and developing countries in today's world, a massive movement has been emerged in less developed countries to eliminate this economic gap. Hence this study investigates the effect of financial development, foreign direct investment and intellectual property on Iran's economic growth and taking into account other variables on economic growth such as impact of the share of foreign direct investment on GDP, government consumptive expenditure share of GDP has been paid. Period used in this study is related to the years 1974 to 2009. Also, in this research we have used Generalized Method of Moments (GMM) to examine relationship between variables. The results of this study indicate a meaningful and negative impact of financial development, the share of government consumptive expenditure to GDP and similarly, the initial GDP on economic growth. Also, the degree of economy openness, foreign direct investment and intellectual property has a meaningful positive impact on economic growth.

Keywords: financial development, FDI, intellectual property, economic growth, Iran

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6837 Investment and Economic Growth: An Empirical Analysis for Tanzania

Authors: Manamba Epaphra

Abstract:

This paper analyzes the causal effect between domestic private investment, public investment, foreign direct investment and economic growth in Tanzania during the 1970-2014 period. The modified neo-classical growth model that includes control variables such as trade liberalization, life expectancy and macroeconomic stability proxied by inflation is used to estimate the impact of investment on economic growth. Also, the economic growth models based on Phetsavong and Ichihashi (2012), and Le and Suruga (2005) are used to estimate the crowding out effect of public investment on private domestic investment on one hand and foreign direct investment on the other hand. A correlation test is applied to check the correlation among independent variables, and the results show that there is very low correlation suggesting that multicollinearity is not a serious problem. Moreover, the diagnostic tests including RESET regression errors specification test, Breusch-Godfrey serial correlation LM test, Jacque-Bera-normality test and white heteroskedasticity test reveal that the model has no signs of misspecification and that, the residuals are serially uncorrelated, normally distributed and homoskedastic. Generally, the empirical results show that the domestic private investment plays an important role in economic growth in Tanzania. FDI also tends to affect growth positively, while control variables such as high population growth and inflation appear to harm economic growth. Results also reveal that control variables such as trade openness and life expectancy improvement tend to increase real GDP growth. Moreover, a revealed negative, albeit weak, association between public and private investment suggests that the positive effect of domestic private investment on economic growth reduces when public investment-to-GDP ratio exceeds 8-10 percent. Thus, there is a great need for promoting domestic saving so as to encourage domestic investment for economic growth.

Keywords: FDI, public investment, domestic private investment, crowding out effect, economic growth

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6836 Automatic Registration of Rail Profile Based Local Maximum Curvature Entropy

Authors: Hao Wang, Shengchun Wang, Weidong Wang

Abstract:

On the influence of train vibration and environmental noise on the measurement of track wear, we proposed a method for automatic extraction of circular arc on the inner or outer side of the rail waist and achieved the high-precision registration of rail profile. Firstly, a polynomial fitting method based on truncated residual histogram was proposed to find the optimal fitting curve of the profile and reduce the influence of noise on profile curve fitting. Then, based on the curvature distribution characteristics of the fitting curve, the interval search algorithm based on dynamic window’s maximum curvature entropy was proposed to realize the automatic segmentation of small circular arc. At last, we fit two circle centers as matching reference points based on small circular arcs on both sides and realized the alignment from the measured profile to the standard designed profile. The static experimental results show that the mean and standard deviation of the method are controlled within 0.01mm with small measurement errors and high repeatability. The dynamic test also verified the repeatability of the method in the train-running environment, and the dynamic measurement deviation of rail wear is within 0.2mm with high repeatability.

Keywords: curvature entropy, profile registration, rail wear, structured light, train-running

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6835 Energy Use, Emissions, Economic Growth and Trade: Evidence from Mauritius

Authors: B. Seetanah, H. Neeliah

Abstract:

This paper investigates the relationship among energy, emissions and economic growth in Mauritius in the presence of trade activities, with capital and labour as other control variables. Using annual data from 1960 to 2011, it is found that the variables are non-stationary and cointegrated. The relationship among the various variables are thus examined in a dynamic VECM framework. Our empirical results comply with the growth hypothesis. Output elasticities of 0.17, 0.25 and 0.43 show that increases in energy consumption cause increases in economic growth, capital accumulation and trade in the long run. We also found that CO2 negatively affects output, but has no significant effect on trade. Findings for the long-run generally tend to tally with those in the short-run. Interestingly we found that energy consumption has a significant impact on CO2 emissions. Our results tend to suggest that implementing energy conservation strategies to mitigate the negative impact of CO2 emissions can dent economic growth, and that promoting cleaner energy production could be a better alternative for Mauritius.

Keywords: energy, emissions, economic growth, export, VECM

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6834 The Impact of Non-Oil Revenue on Nigeria’s Economic Growth and Development

Authors: Abubakar O. Sulaiman

Abstract:

Agriculture was the main stay of Nigeria’s economy before the oil boom of the 1970s caused a gradual but steady shift from agriculture to crude oil as the major source of revenue and foreign exchange. The economy later experienced many symptoms of the 'Dutch disease', with exchange rate appreciation and erosion of competitiveness of the non-oil tradable goods. In order to reverse the worsening economic situations -high unemployment, galloping inflation, deteriorating balance of payment, declining economic growth, and fiscal deficits among others- the government, embarked on austerity measures in 1982 and Structure Adjustment Programme (SAP) in 1986. One of the cornerstones of SAP is the diversification of the economy from oil to non-oil. In the form of stocktaking, this paper investigates the impact of non-oil revenue on economic growth in Nigeria using quarterly time-series data from 1980 to 2019. The findings revealed that a long-run relationship exists between the variables (non-oil variables) and economic growth in Nigeria. Among the variables, (agriculture revenue, manufacturing revenue, revenue from services, and company income tax) contributed substantially to economic growth. The paper recommends that the government should continue to intensify efforts and policies in the diversification of the economy as it will bring about sustainable non-oil revenue and economic growth.

Keywords: non-oil revenue, economic growth, export, long run relationship

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6833 Influence of Agroforestry Trees Leafy Biomass and Nitrogen Fertilizer on Crop Growth Rate and Relative Growth Rate of Maize

Authors: A. B. Alarape, O. D. Aba

Abstract:

The use of legume tree pruning as mulch in agroforestry system is a common practice to maintain soil organic matter and improve soil fertility in the tropics. The study was conducted to determine the influence of agroforestry trees leafy biomass and nitrogen fertilizer on crop growth rate and relative growth rate of maize. The experiments were laid out as 3 x 4 x 2 factorial in a split-split plot design with three replicates. Control, biomass species (Parkia biglobosa and Albizia lebbeck) as main plots were considered, rates of nitrogen considered include (0, 40, 80, 120 kg N ha⁻¹) as sub-plots, and maize varieties (DMR-ESR-7 and 2009 EVAT) were used as sub-sub plots. Data were analyzed using descriptive and inferential statistics (ANOVA) at α = 0.05. Incorporation of leafy biomass was significant in 2015 on Relative Growth Rate (RGR), while nitrogen application was significant on Crop Growth Rate (CGR). 2009 EVAT had higher CGR in 2015 at 4-6 and 6-8 WAP. Incorporation of Albizia leaves enhanced the growth of maize than Parkia leaves. Farmers are, therefore, encouraged to use Albizia leaves as mulch to enrich their soil for maize production and most especially, in case of availability of inorganic fertilizers. Though, production of maize with biomass and application of 120 kg N ha⁻¹ will bring better growth of maize.

Keywords: agroforestry trees, fertilizer, growth, incorporation, leafy biomass

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6832 Estimating the Receiver Operating Characteristic Curve from Clustered Data and Case-Control Studies

Authors: Yalda Zarnegarnia, Shari Messinger

Abstract:

Receiver operating characteristic (ROC) curves have been widely used in medical research to illustrate the performance of the biomarker in correctly distinguishing the diseased and non-diseased groups. Correlated biomarker data arises in study designs that include subjects that contain same genetic or environmental factors. The information about correlation might help to identify family members at increased risk of disease development, and may lead to initiating treatment to slow or stop the progression to disease. Approaches appropriate to a case-control design matched by family identification, must be able to accommodate both the correlation inherent in the design in correctly estimating the biomarker’s ability to differentiate between cases and controls, as well as to handle estimation from a matched case control design. This talk will review some developed methods for ROC curve estimation in settings with correlated data from case control design and will discuss the limitations of current methods for analyzing correlated familial paired data. An alternative approach using Conditional ROC curves will be demonstrated, to provide appropriate ROC curves for correlated paired data. The proposed approach will use the information about the correlation among biomarker values, producing conditional ROC curves that evaluate the ability of a biomarker to discriminate between diseased and non-diseased subjects in a familial paired design.

Keywords: biomarker, correlation, familial paired design, ROC curve

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6831 The Internationalization of Capital Market Influencing Debt Sustainability's Impact on the Growth of the Nigerian Economy

Authors: Godwin Chigozie Okpara, Eugine Iheanacho

Abstract:

The paper set out to assess the sustainability of debt in the Nigerian economy. Precisely, it sought to determine the level of debt sustainability and its impact on the growth of the economy; whether internationalization of capital market has positively influenced debt sustainability’s impact on economic growth; and to ascertain the direction of causality between external debt sustainability and the growth of GDP. In the light of these objectives, ratio analysis was employed for the determination of debt sustainability. Our findings revealed that the periods 1986 – 1994 and 1999 – 2004 were periods of severe unsustainable borrowing. The unit root test showed that the variables of the growth model were integrated of order one, I(1) and the cointegration test provided evidence for long run stability. Considering the dawn of internationalization of capital market, the researcher employed the structural break approach using Chow Breakpoint test on the vector error correction model (VECM). The result of VECM showed that debt sustainability, measured by debt to GDP ratio exerts negative and significant impact on the growth of the economy while debt burden measured by debt-export ratio and debt service export ratio are negative though insignificant on the growth of GDP. The Cho test result indicated that internationalization of capital market has no significant effect on the debt overhang impact on the growth of the Economy. The granger causality test indicates a feedback effect from economic growth to debt sustainability growth indicators. On the bases of these findings, the researchers made some necessary recommendations which if followed religiously will go a long way to ameliorating debt burdens and engendering economic growth.

Keywords: debt sustainability, internalization, capital market, cointegration, chow test

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6830 Reduction in Population Growth under Various Contraceptive Strategies in Uttar Pradesh, India

Authors: Prashant Verma, K. K. Singh, Anjali Singh, Ujjaval Srivastava

Abstract:

Contraceptive policies have been derived to achieve desired reductions in the growth rate and also, applied to the data of Uttar-Pradesh, India for illustration. Using the Lotka’s integral equation for the stable population, expressions for the proportion of contraceptive users at different ages have been obtained. At the age of 20 years, 42% of contraceptive users is imperative to reduce the present annual growth rate of 0.036 to 0.02, assuming that 40% of the contraceptive users discontinue at the age of 25 years and 30% again continue contraceptive use at age 30 years. Further, presuming that 75% of women start using contraceptives at the age of 23 years, and 50% of the remaining women start using contraceptives at the age of 28 years, while the rest of them start using it at the age of 32 years. If we set a minimum age of marriage as 20 years, a reduction of 0.019 in growth rate will be obtained. This study describes how the level of contraceptive use at different age groups of women reduces the growth rate in the state of Uttar Pradesh. The article also promotes delayed marriage in the region.

Keywords: child bearing, contraceptive devices, contraceptive policies, population growth, stable population

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6829 Energy Consumption and Economic Growth: Testimony of Selected Sub-Saharan Africa Countries

Authors: Alfred Quarcoo

Abstract:

The main purpose of this paper is to examine the causal relationship between energy consumption and economic growth in Sub-Saharan Africa using panel data techniques. An annual data on energy consumption and Economic Growth (proxied by real gross domestic product per capita) spanning from 1990 to 2016 from the World bank index database was used. The results of the Augmented Dickey–Fuller unit root test shows that the series for all countries are not stationary at levels. However, the log of economic growth in Benin and Congo become stationary after taking the differences of the data, and log of energy consumption become stationary for all countries and Log of economic growth in Kenya and Zimbabwe were found to be stationary after taking the second differences of the panel series. The findings of the Johansen cointegration test demonstrate that the variables Log of Energy Consumption and Log of economic growth are not co-integrated for the cases of Kenya and Zimbabwe, so no long-run relationship between the variables were established in any country. The Granger causality test indicates that there is a unidirectional causality running from energy use to economic growth in Kenya and no causal linkage between Energy consumption and economic growth in Benin, Congo and Zimbabwe.

Keywords: Cointegration, Granger Causality, Sub-Sahara Africa, World Bank Development Indicators

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6828 An Overview of Smart Growth Concept from Ecological Planning Perspective

Authors: Ozge Celik, Elvan Ender

Abstract:

With rapidly increasing population growth and industrial revolution in the 1950s, in Turkey migration began to the cities from the countryside. Along the rapid growth of urban population has started to bring many problems. Depending on the uncontrolled urban development, concerns about the protection of natural values has increased day by day. As a result of disturbance on the natural environment, human health has started to be under threat. After all, much urban planning approaches outspread that protecting natural resources by respect to human health and troubleshooting problems emerging with anthropogenic effects. Smart growth concept is one of the chosen methods to resolve the problems in Turkey. In this paper, smart growth concept idea and its criteria will be explained while ecological planning and urban planning problems will be mentioned in Turkey according to the need of concept. Studies, consisting of practical and theoretical smart growth ideas, shows that ecological landscape planning is not included in the urban development process in Turkey. The main idea is to initiate urban development plans considering social and cultural structures of cultural assets and also natural values.

Keywords: ecological landscape planning, smart growth, Turkey, urban development

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6827 In Search of High Growth: Mapping out Academic Spin-Off´s Performance in Catalonia

Authors: F. Guspi, E. García

Abstract:

This exploratory study gives an overview of the evolution of the main financial and performance indicators of the Academic Spin-Off’s and High Growth Academic Spin-Off’s in year 3 and year 6 after its creation in the region of Catalonia in Spain. The study compares and evaluates results of these different measures of performance and the degree of success of these companies for each University. We found that the average Catalonian Academic Spin-Off is small and have not achieved the sustainability stage at year 6. On the contrary, a small group of High Growth Academic Spin-Off’s exhibit robust performance with high profits in year 6. Our results support the need to increase selectivity and support for these companies especially near year 3, because are the ones that will bring wealth and employment. University role as an investor has rigid norms and habits that impede an efficient economic return from their ASO investment. Universities with high performance on sales and employment in year 3 not always could sustain this growth in year 6 because their ASO’s are not profitable. On the contrary, profitable ASO exhibit superior performance in all measurement indicators in year 6. We advocate the need of a balanced growth (with profits) as a way to obtain subsequent continuous growth.

Keywords: Academic Spin-Off (ASO), university entrepreneurship, entrepreneurial university, high growth, New Technology Based Companies (NTBC), University Spin-Off

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6826 Total Lipid of Mutant Synechococcus sp. PCC 7002

Authors: Azlin S Azmi, Mus’ab Zainal, Sarina Sulaiman, Azura Amid, Zaki Zainudin

Abstract:

Microalgae lipid is a promising feedstock for biodiesel production. The objective of this work was to study growth factors affecting marine mutant Synechococcus sp. (PCC 7002) for high lipid production. Four growth factors were investigated; nitrogen-phosporus-potassium (NPK) concentration, light intensity, temperature and NaNO3 concentration on mutant strain growth and lipid production were studied. Design Expert v8.0 was used to design the experimental and analyze the data. The experimental design selected was Min-Run Res IV which consists of 12 runs and the response surfaces measured were specific growth rate and lipid concentration. The extraction of lipid was conducted by chloroform/methanol solvents system. Based on the study, mutant Synechococcus sp. PCC 7002 gave the highest specific growth rate of 0.0014 h-1 at 0% NPK, 2500 lux, 40oC and 0% NaNO3. On the other hand, the highest lipid concentration was obtained at 0% NPK, 3500 lux, 30°C and 1% NaNO3.

Keywords: Cyanobacteria, lipid, mutant, marine Synechococcus sp. (PCC 7002), specific growth rate

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6825 Shade Effect on Photovoltaic Systems: A Comparison between String and Module-Based Solution

Authors: Iyad M. Muslih, Yehya Abdellatif

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In general, shading will reduce the electrical power produced from PV modules and arrays in locations where shading is unavoidable or caused by dynamic moving parts. This reduction is based on the shade effect on the I-V curve of the PV module or array and how the DC/AC inverter can search and control the optimum value of power from this module or array configuration. This is a very complicated task due to different patterns of shaded PV modules and arrays. One solution presented by the inverter industry is to perform the maximum power point tracking (MPPT) at the module level rather than the series string level. This solution is supposed to reduce the shade effect on the total harvested energy. However, this isn’t necessarily the best solution to reduce the shade effect as will be shown in this study.

Keywords: photovoltaic, shade effect, I-V curve, MPPT

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6824 U.S. Trade and Trade Balance with China: Testing for Marshall-Lerner Condition and the J-Curve Hypothesis

Authors: Anisul Islam

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The U.S. has a very strong trade relationship with China but with a large and persistent trade deficit. Some has argued that the undervalued Chinese Yuan is to be blamed for the persistent trade deficit. The empirical results are mixed at best. This paper empirically estimates the U.S. export function along with the U.S. import function with its trade with China with the purpose of testing for the existence of the Marshall-Lerner (ML) condition as well for the possible existence of the J-curve hypothesis. Annual export and import data will be utilized for as long as the time series data exists. The export and import functions will be estimated using advanced econometric techniques, along with appropriate diagnostic tests performed to examine the validity and reliability of the estimated results. The annual time-series data covers from 1975 to 2022 with a sample size of 48 years, the longest period ever utilized before in any previous study. The data is collected from several sources, such as the World Bank’s World Development Indicators, IMF Financial Statistics, IMF Direction of Trade Statistics, and several other sources. The paper is expected to shed important light on the ongoing debate regarding the persistent U.S. trade deficit with China and the policies that may be useful to reduce such deficits over time. As such, the paper will be of great interest for the academics, researchers, think tanks, global organizations, and policy makers in both China and the U.S.

Keywords: exports, imports, marshall-lerner condition, j-curve hypothesis, united states, china

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6823 Impact of Foreign Trade on Economic Growth: A Panel Data Analysis for OECD Countries

Authors: Burcu Guvenek, Duygu Baysal Kurt

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The impact of foreign trade on economic growth has been discussed since the Classical Economists. Today, foreign trade has become more important for the country's economy with the increasing globalization. When it comes to foreign trade, policies which may vary from country to country and from time to time as protectionism or free trade are implemented. In general, the positive effect of foreign trade on economic growth is alleged. However, as studies supporting this general acceptance take place in the economics literature, there are also studies in the opposite direction. In this paper, the impact of foreign trade on economic growth will be investigated with the help of panel data analysis. For this research, 24 OECD countries’ GDP and foreign trade data, including the period of 1990 and 2010, will be used.

Keywords: foreign trade, economic growth, OECD countries, panel data analysis

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6822 Developments in corporate governance and economic growth in Sub Saharan Africa

Authors: Martha Matashu

Abstract:

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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6821 Reliable Method for Estimating Rating Curves in the Natural Rivers

Authors: Arash Ahmadi, Amirreza Kavousizadeh, Sanaz Heidarzadeh

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Stage-discharge curve is one of the conventional methods for continuous river flow measurement. In this paper, an innovative approach is proposed for predicting the stage-discharge relationship using the application of isovel contours. Using the proposed method, it is possible to estimate the stage-discharge curve in the whole section with only using discharge information from just one arbitrary water level. For this purpose, multivariate relationships are used to determine the mean velocity in a cross-section. The unknown exponents of the proposed relationship have been obtained by using the second version of the Strength Pareto Evolutionary Algorithm (SPEA2), and the appropriate equation was selected by applying the TOPSIS (Technique for Order Preferences by Similarity to an Ideal Solution) approach. Results showed a close agreement between the estimated and observed data in the different cross-sections.

Keywords: rating curves, SPEA2, natural rivers, bed roughness distribution

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6820 The Emergence of Smart Growth in Developed and Developing Countries and Its Possible Application in Kabul City, Afghanistan

Authors: Bashir Ahmad Amiri, Nsenda Lukumwena

Abstract:

The global trend indicates that more and more people live and will continue to live in urban areas. Today cities are expanding both in physical size and number due to the rapid population growth along with sprawl development, which caused the cities to expand beyond the growth boundary and exerting intense pressure on environmental resources specially farmlands to accommodate new housing and urban facilities. Also noticeable is the increase in urban decay along with the increase of slum dwellers present another challenge that most cities in developed and developing countries have to deal with. Today urban practitioners, researchers, planners, and decision-makers are seeking for alternative development and growth management policies to house the rising urban population and also cure the urban decay and slum issues turn to Smart Growth to achieve their goals. Many cities across the globe have adopted smart growth as an alternative growth management tool to deal with patterns and forms of development and to cure the rising urban and environmental problems. The method used in this study is a literature analysis method through reviewing various resources to highlight the potential benefits of Smart Growth in both developed and developing countries and analyze, to what extent it can be a strategic alternative for Afghanistan’s cities, especially the capital city. Hence a comparative analysis is carried on three countries, namely the USA, China, and India to identify the potential benefits of smart growth likely to serve as an achievable broad base for recommendations in different urban contexts.

Keywords: growth management, housing, Kabul city, smart growth, urban-expansion

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6819 Determination of Suitability Between Single Phase Induction Motor and Load

Authors: Nakarin Prempri

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Single-phase induction motors are widely used in industry. Most manufacturing processes use capacitor-run single-phase induction motors to drive mechanical loads. The selection of a suitable motor for driving is important. The optimum operating range of the motor can help the motor operate efficiently. Thus, this paper presents an operating range analysis of capacitor-run single-phase induction motors and a determination of suitability between motor and mechanical loads. an observational study found that the optimum operating range of the motor can be used to determine the suitability between the motor and the mechanical load. Such considerations ensure that the motor uses no more current than necessary and operates efficiently.

Keywords: single phase induction motor, operating range, torque curve, efficiency curve

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6818 Prospective Validation of the FibroTest Score in Assessing Liver Fibrosis in Hepatitis C Infection with Genotype 4

Authors: G. Shiha, S. Seif, W. Samir, K. Zalata

Abstract:

Prospective Validation of the FibroTest Score in assessing Liver Fibrosis in Hepatitis C Infection with Genotype 4 FibroTest (FT) is non-invasive score of liver fibrosis that combines the quantitative results of 5 serum biochemical markers (alpha-2-macroglobulin, haptoglobin, apolipoprotein A1, gamma glutamyl transpeptidase (GGT) and bilirubin) and adjusted with the patient's age and sex in a patented algorithm to generate a measure of fibrosis. FT has been validated in patients with chronic hepatitis C (CHC) (Halfon et al., Gastroenterol. Clin Biol.( 2008), 32 6suppl 1, 22-39). The validation of fibro test ( FT) in genotype IV is not well studied. Our aim was to evaluate the performance of FibroTest in an independent prospective cohort of hepatitis C patients with genotype 4. Subject was 122 patients with CHC. All liver biopsies were scored using METAVIR system. Our fibrosis score(FT) were measured, and the performance of the cut-off score were done using ROC curve. Among patients with advanced fibrosis, the FT was identically matched with the liver biopsy in 18.6%, overestimated the stage of fibrosis in 44.2% and underestimated the stage of fibrosis in 37.7% of cases. Also in patients with no/mild fibrosis, identical matching was detected in 39.2% of cases with overestimation in 48.1% and underestimation in 12.7%. So, the overall results of the test were identical matching, overestimation and underestimation in 32%, 46.7% and 21.3% respectively. Using ROC curve it was found that (FT) at the cut-off point of 0.555 could discriminate early from advanced stages of fibrosis with an area under ROC curve (AUC) of 0.72, sensitivity of 65%, specificity of 69%, PPV of 68%, NPV of 66% and accuracy of 67%. As FibroTest Score overestimates the stage of advanced fibrosis, it should not be considered as a reliable surrogate for liver biopsy in hepatitis C infection with genotype 4.

Keywords: fibrotest, chronic Hepatitis C, genotype 4, liver biopsy

Procedia PDF Downloads 377
6817 Trade Policy and Economic Growth of Turkey in Global Economy: New Empirical Evidence

Authors: Pınar Yardımcı

Abstract:

This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.

Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey

Procedia PDF Downloads 311
6816 The Effect of Behavioral and Risk Factors of Investment Growth on Stock Returns

Authors: Majid Lotfi Ghahroud, Seyed Jalal Tabatabaei, Ebrahim Karami, AmirArsalan Ghergherechi, Amir Ali Saeidi

Abstract:

In this study, the relationship between investment growth and stock returns of companies listed in Tehran Stock Exchange and whether their relationship -behavioral or risk factors- are discussed. Generally, there are two perspectives; risk-based approach and behavioral approach. According to the risk-based approach due to increase investment, systemic risk and consequently the stock returns are reduced. But due to the second approach, an excessive optimism or pessimism leads to assuming stock price with high investment growth in the past, higher than its intrinsic value and the price of stocks with lower investment growth, less than its intrinsic value. The investigation period is eight years from 2007 to 2014. The sample consisted of all companies listed on the Tehran Stock Exchange. The method is a portfolio test, and the analysis is based on the t-student test (t-test). The results indicate that there is a negative relationship between investment growth and stock returns of companies and this negative correlation is stronger for firms with higher cash flow. Also, the negative relationship between asset growth and stock returns is due to behavioral factors.

Keywords: behavioral theory, investment growth, risk-based theory, stock returns

Procedia PDF Downloads 121
6815 The System Dynamics Research of China-Africa Trade, Investment and Economic Growth

Authors: Emma Serwaa Obobisaa, Haibo Chen

Abstract:

International trade and outward foreign direct investment are important factors which are generally recognized in the economic growth and development. Though several scholars have struggled to reveal the influence of trade and outward foreign direct investment (FDI) on economic growth, most studies utilized common econometric models such as vector autoregression and aggregated the variables, which for the most part prompts, however, contradictory and mixed results. Thus, there is an exigent need for the precise study of the trade and FDI effect of economic growth while applying strong econometric models and disaggregating the variables into its separate individual variables to explicate their respective effects on economic growth. This will guarantee the provision of policies and strategies that are geared towards individual variables to ensure sustainable development and growth. This study, therefore, seeks to examine the causal effect of China-Africa trade and Outward Foreign Direct Investment on the economic growth of Africa using a robust and recent econometric approach such as system dynamics model. Our study impanels and tests an ensemble of a group of vital variables predominant in recent studies on trade-FDI-economic growth causality: Foreign direct ınvestment, international trade and economic growth. Our results showed that the system dynamics method provides accurate statistical inference regarding the direction of the causality among the variables than the conventional method such as OLS and Granger Causality predominantly used in the literature as it is more robust and provides accurate, critical values.

Keywords: economic growth, outward foreign direct investment, system dynamics model, international trade

Procedia PDF Downloads 73
6814 The Role of Self-Confidence, Adversity Quotient, and Self-Efficacy Critical Thinking: Path Model

Authors: Bayu Dwi Cahyo, Ekohariadi, Theodorus Wiyanto Wibowo, I. G. P. Asto Budithahjanto, Eppy Yundra

Abstract:

The objective of this study is to examine the effects of self-confidence, adversity quotient, and self-efficacy variables on critical thinking. This research's participants are 137 cadets of Aviation Polytechnics of Surabaya with the sampling technique that was purposive sampling. In this study, the data collection method used a questionnaire with Linkert-scale and distributed or given to respondents by the specified number of samples. The SPSS AMOS v23 was used to test a number of a priori multivariate growth curve models and examining relationships between the variables via path analysis. The result of path analysis was (χ² = 88.463, df= 71, χ² /df= 1.246, GFI= .914, CFI= .988, P= .079, AGFI= .873, TLI= .985, RMSEA= .043). According to the analysis, there is a positive and significant relationship between self-confidence, adversity quotient, and self-efficacy variables on critical thinking.

Keywords: self-confidence, adversity quotient, self-efficacy variables, critical thinking

Procedia PDF Downloads 106