Search results for: macro economic politicies

Authors: E. O. E. Nnadi

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Transportation is a critical factor in the economic growth and development of any nation, region or state. Good transportation network supports every sector of the economy like the manufacturing, transportation and encourages investors thereby affect the overall economic prosperity. The paper evaluates the impact of transportation on the economic growth of Nigeria using south eastern states as a case study. The choice of the case study is its importance as the commercial and industrial nerve of the country. About 200 respondents who are of different professions such as dealers in goods, transporters, contractors, consultants, bankers were selected and a set of questionnaire were administered to using the systematic sampling technique in the five states of the region. Descriptive statistics and relative importance index (RII) technique was employed for the analysis of the data gathered. The findings of the analysis reveal that Nigeria has the least effective ratio per population in Africa of 949.91 km/Person. Conclusion was drawn to improve road network in the area and the country as a whole to enhance the economic activities of the people.

Keywords: economic growth, south-east, transportation, transportation cost, Nigeria

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Authors: Christopher Muhawe, Masooda Bashir

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With increased Internet Communication Technology(ICT), the virtual world has become the new normal. At the same time, there is an unprecedented collection of massive amounts of data by both private and public entities. Unfortunately, this increase in data collection has been in tandem with an increase in data misuse and data breach. Regrettably, the majority of data breach and data misuse claims have been unsuccessful in the United States courts for the failure of proof of direct injury to physical or economic interests. The requirement to express data privacy harms from an economic or physical stance negates the fact that not all data harms are physical or economic in nature. The challenge is compounded by the fact that data breach harms and risks do not attach immediately. This research will use a descriptive and normative approach to show that not all data harms can be expressed in economic or physical terms. Expressing privacy harms purely from an economic or physical harm perspective negates the fact that data insecurity may result into harms which run counter the functions of privacy in our lives. The promotion of liberty, selfhood, autonomy, promotion of human social relations and the furtherance of the existence of a free society. There is no economic value that can be placed on these functions of privacy. The proposed approach addresses data harms from a psychological and social perspective.

Keywords: data breach and misuse, economic harms, privacy harms, psychological harms

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

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Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

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Authors: Javier Sanchez Vidal, Ciarán Mac An Bhaird, Brian Lucey

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This study examines the decision by firm owners not to apply for intermediated debt due to a perception that their application will be rejected. Based on a sample of SMEs in 9 European countries over the period 2009-2011, we examine potential explanatory factors for borrower discouragement, including firm, macroeconomic, regulatory and banking industry variables. Compared with firms that applied for bank loans, discouraged borrowers are smaller, younger, have declining turnover and an increasing debt/assets ratio. Perceived willingness of banks to lend rather than the company’s own credit history is more important to encourage applications. Perceptions of refusal are procyclical and may be self-perpetuating. Increased concentration in the banking sector reduces discouragement, indicating the importance of relationship banking. Transmission of macro effects through the banking system and economic environment may also lead to higher levels of discouragement. A good regulatory scheme is also advisable, either for the lenders or the borrowers (overall the good ones).

Keywords: entrepreneurial finance, discouraged borrowers, banking, financial crisis, eurozone

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Authors: Andreas Rudisch, Ralf Lampert, Andreas Kolbitsch

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It is a well-known fact among the engineering community that earthquakes with comparatively low magnitudes can cause serious damage to nonstructural components (NSCs) of buildings, even when the supporting structure performs relatively well. Past research works focused mainly on NSCs of nuclear power plants and industrial plants. Particular attention should also be given to architectural façade elements of old masonry buildings (e.g. ornamental figures, balustrades, vases), which are very vulnerable under seismic excitation. Large numbers of these historical nonstructural components (HiNSCs) can be found in highly frequented historical city centers and in the event of failure, they pose a significant danger to persons. In order to estimate the vulnerability of acceleration sensitive HiNSCs, the peak horizontal floor acceleration (PHFA) is used. The PHFA depends on the dynamic characteristics of the building, the ground excitation, and induced nonlinearities. Consequently, the PHFA can not be generalized as a simple function of height. In the present research work, an extensive case study was conducted to investigate the influence of induced nonlinearity on the PHFA for old masonry buildings. Probabilistic nonlinear FE time-history analyses considering three different hazard levels were performed. A set of eighteen synthetically generated ground motions was used as input to the structure models. An elastoplastic macro-model (multiPlas) for nonlinear homogenized continuum FE-calculation was calibrated to multiple scales and applied, taking specific failure mechanisms of masonry into account. The macro-model was calibrated according to the results of specific laboratory and cyclic in situ shear tests. The nonlinear macro-model is based on the concept of multi-surface rate-independent plasticity. Material damage or crack formation are detected by reducing the initial strength after failure due to shear or tensile stress. As a result, shear forces can only be transmitted to a limited extent by friction when the cracking begins. The tensile strength is reduced to zero. The first goal of the calibration was the consistency of the load-displacement curves between experiment and simulation. The calibrated macro-model matches well with regard to the initial stiffness and the maximum horizontal load. Another goal was the correct reproduction of the observed crack image and the plastic strain activities. Again the macro-model proved to work well in this case and shows very good correlation. The results of the case study show that there is significant scatter in the absolute distribution of the PHFA between the applied ground excitations. An absolute distribution along the normalized building height was determined in the framework of probability theory. It can be observed that the extent of nonlinear behavior varies for the three hazard levels. Due to the detailed scope of the present research work, a robust comparison with code-recommendations and simplified PHFA distributions are possible. The chosen methodology offers a chance to determine the distribution of PHFA along the building height of old masonry structures. This permits a proper hazard assessment of HiNSCs under seismic loads.

Keywords: nonlinear macro-model, nonstructural components, time-history analysis, unreinforced masonry

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Authors: Ammar Z. Alwrekiat, Sara Ojeda Gonzalez, Maria Jose Miranda Martel, Antonio Mihi-Ramirez

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This paper analyses the economic situation in Jordan, which has been the political asylum destination for Syrians since 2011. We analyze the effects of the Jordanian situation through the following indicators: international aid, gross domestic product, remittances, and unemployment. A correlation analysis has been used to identify the main connections of these parameters with the reception of refugees. Although the economic effects of Syrian refugees in Jordan are uncertain, it involves an important challenge in the development of migration policies. Jordan has a special economic situation and limited capacities, but the country has provided humanitarian assistance to Syrian refugees. In this case, the support of the international community is of particular importance, taking an important role in the negotiation of international agreements on refugees.

Keywords: correlation analysis, economic implications, migration, refugees

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Authors: Kasman, Darmawansyah, Alimin Maidin, Amran Razak

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Background: In decentralization, advocacy is needed to increase the health budget in Parepare District. One of the advocacy methods recommended by the World Bank is the economic loss approach. Methods: This research is observational in the field of health economics that contributes directly to the magnitude of the economic loss of the community and the government and provides advocacy to the executive and legislative to see the harm it causes. Results: The research results show the amount of direct cost, which consists of household expenditure for transport Rp.295,865,500. Indirect Cost of YLD of Rp.14.688.000, and YLL of Rp.28.986.336.00, so the amount of DALY is Rp.43.674.336.000. The total economic loss of Rp.43.970.201.500. These huge economic losses can be prevented by increasing the allocation of health budgets for promotive and preventive efforts and expanding the coverage of health insurance for the community. Conclusion: There is a need to advocate the executive and legislative about the importance of guarantee on public health financing by conducting studies in terms of economic losses so that all strategic alliances believe that health is an investment.

Keywords: advocacy, economic lost, health insurance, economic losses

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Authors: Boon Yih Mah

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Web-based Cognitive Writing Instruction (WeCWI) is a hybrid e-framework that consolidates instructional design and language development towards the development of a web-based instruction (WBI). WeCWI divides instructional design into macro and micro perspectives. In macro perspective, a 21st century educator is encouraged to disseminate knowledge and share ideas with in-class and global learners. By leveraging the virtue of technology, WeCWI aims to transform the educator into an aggregator, curator, publisher, social networker and finally, a web-based instructor. Since the most notable contribution of integrating technology is being a tool of teaching as well as a stimulus for learning, WeCWI focuses on the use of contemporary web tools based on the multiple roles played by the 21st century educator. The micro perspective draws attention to the pedagogical approaches focussing on three main aspects: reading, discussion, and writing. With the effective use of pedagogical approaches, technology adds new dimensions and expands the bounds of learning capacity. Lastly, WeCWI also imparts the fundamental theoretical concepts for web-based instructors’ awareness such as interactionism, e-learning interactional-based model, computer-mediated communication (CMC), cognitive theories, and learning style model.

Keywords: web-based cognitive writing instruction, WeCWI, instructional design, e-framework, web-based instructor

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Authors: Adeleke Omolade

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The study investigated the impacts of capital goods' import and human capital on the economic growth of the Sub Sahahra Africa (SSA). 30 countries were used in the Panel- ARDL analysis where economic growth is the dependent variables and capital goods' import, human capital, primary export, investment exchange rate, among others were used as the independent variables. The result from the panel analysis indicates that capital goods' import will significantly and positively influence economic growth but human capital fails to have significant positive impact on economic growth of the SSA. Earlier the trend analysis and the correlation results have shown that there is a weak association between capital goods' import and human capital in the SSA. The results offer an expository analysis that reveals that the quality of the human capital is very germane to the effective utilization of capital goods' import for the purpose of growth in a primary goods' export dominated region like the SSA.

Keywords: capital goods import, economic growth, human capital, Sub-Sahara Africa

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Authors: Nayyra Zeb, Fu Qiang, Sundas Rauf

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Foreign Direct Investment (FDI) is often seen as a significant factor of economic development in developing countries like Pakistan. The aim of this article is to investigate the effect of FDI on Pakistan’s economic growth during 1972–2012. Besides FDI, three other variables such as trade openness, political instability and terrorist attacks are also used in this study. The least square method has been applied to check the effect of these variables on GDP of Pakistan. The results show that FDI has a positive significant effect on economic growth of Pakistan.

Keywords: FDI inflows, trade openness, political instability, terrorist attacks

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Authors: Nopadol Burananuth

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The purposes of this research paper were to study the relationship between the economic factor and political factor, the relationship between political and economic factor and social factor, and the effects of economic factor, political factor, and social factor to the people’s perception about ASEAN Economic Community (AEC). A total of 400 samples were selected from four sub-districts from Arunyaprathet District, Srakaow Province. Data analysis method included multiple regression analysis. The findings revealed that political factor depended on trade cooperation, transportation cooperation, and communication cooperation. Social factor was depended on disaster protection, terrorism protection, and international relations. In addition, the people’s perception of the AEC depended on disaster perception, terrorism protection, international relations, transportation cooperation, communication cooperation, interdependence, and labor movement.

Keywords: economic factors, perception, political factors, social factors

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Authors: Uyi Kizito Ehigiamusoe

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The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.

Keywords: economic growth, investments, money market, money market challenges, money market instruments

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Authors: Saleh Gareh, B. C. Kok, H. H. Goh

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Piezoelectric energy harvesting has advantages over other alternative sources due to its large power density, ease of applications, and capability to be fabricated at different scales: macro, micro, and nano. This paper presents an electromechanical-traffic model for roadway compression-based piezoelectric energy harvesting system. A two-degree-of-freedom (2-DOF) electromechanical model has been developed for the piezoelectric energy harvesting unit to define its performance in power generation under a number of external excitations on road surface. Lead Zirconate Titanate (PZT-5H) is selected as the piezoelectric material to be used in this paper due to its high Piezoelectric Charge Constant (d) and Piezoelectric Voltage Constant (g) values. The main source of vibration energy that has been considered in this paper is the moving vehicle on the road. The effect of various frequencies on possible generated power caused by different vibration characteristics of moving vehicle has been studied. A single unit of circle-shape Piezoelectric Cymbal Transducer (PCT) with diameter of 32 mm and thickness of 0.3 mm be able to generate about 0.8 mW and 3 mW of electric power under 4 Hz and 20 Hz of excitation, respectively. The estimated power to be generated for multiple arrays of PCT is approximately 150 kW/ km. Thus, the developed electromechanical-traffic model has enormous potential to be used in estimating the macro scale of roadway power generation system.

Keywords: piezoelectric energy harvesting, cymbal transducer, PZT (lead zirconate titanate), 2-DOF

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Authors: Mingbao Chen, Mingli Zhao

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The coastal zone is the intersection of land and sea system, and also is the connecting zone of the two economic systems of land and sea. In the world, all countries attach great importance to the coastal zone management and the coastal zone economy. In China, the government has developed a number of related coastal management policies and institutional, such as marine functional zoning, main function zoning, integrated coastal zone management, to ensure the sustainable utilization of the coastal zone and promote the development of coastal economic. However, in practice, the effect is not satisfactory. This paper analyses the coastal areas of coastal zone management on coastal economic growth contribution based on coastal areas economic development data with the 2007-2015 in China, which uses the method of the evaluation index system of coastal zone management institutional efficiency. The results show that the coastal zone management institutional objectives are not clear, and the institutional has high repeatability. At the same time, over management of coastal zone leads to low economic efficiency because the government management boundary is blurred.

Keywords: institutional overlap, over management, coastal zone management, coastal zone economy

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Authors: Rituparna Pal, Faiz Ahmed

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Neighbourhood energy efficiency is a newly emerged term to address the quality of urban strata of built environment in terms of various covariates of sustainability. The concept of sustainability paradigm in developed nations has encouraged the policymakers for developing urban scale cities to envision plans under the aegis of urban scale sustainability. The concept of neighbourhood energy efficiency is realized a lot lately just when the cities, towns and other areas comprising this massive global urban strata have started facing a strong blow from climate change, energy crisis, cost hike and an alarming shortfall in the justice which the urban areas required. So this step of urban sustainability can be easily referred more as a ‘Retrofit Action’ which is to cover up the already affected urban structure. So even if we start energy efficiency for existing cities and urban areas the initial layer remains, for which a complete model of urban sustainability still lacks definition. Urban sustainability is a broadly spoken off word with end number of parameters and policies through which the loop can be met. Out of which neighbourhood energy efficiency can be an integral part where the concept and index of neighbourhood scale indicators, block level indicators and building physics parameters can be understood, analyzed and concluded to help emerge guidelines for urban scale sustainability. The future of neighbourhood energy efficiency not only lies in energy efficiency but also important parameters like quality of life, access to green, access to daylight, outdoor comfort, natural ventilation etc. So apart from designing less energy-hungry buildings, it is required to create a built environment which will create less stress on buildings to consume more energy. A lot of literary analysis has been done in the Western countries prominently in Spain, Paris and also Hong Kong, leaving a distinct gap in the Indian scenario in exploring the sustainability at the urban strata. The site for the study has been selected in the upcoming capital city of Amaravati which can be replicated with similar neighbourhood typologies in the area. The paper suggests a methodical intent to quantify energy and sustainability indices in detail taking by involving several macro, meso and micro level covariates and parameters. Several iterations have been made both at macro and micro level and have been subjected to simulation, computation and mathematical models and finally to comparative analysis. Parameters at all levels are analyzed to suggest the best case scenarios which in turn is extrapolated to the macro level finally coming out with a proposal model for energy efficient neighbourhood and worked out guidelines with significance and correlations derived.

Keywords: energy quantification, macro scale parameters, meso scale parameters, micro scale parameters

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Authors: S. Kaira, S. Mohamed, A. Rahman

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Traditionally, highway infrastructure projects are initiated based on their economic benefits, thereafter environmental, social and governance impacts are addressed discretely for the selected project from a set of pre-determined alternatives. When opting for cost-benefit analysis (CBA), multi-criteria decision-making (MCDM) has been used as the default assessment tool. But this tool has been critiqued as it does not mimic the real-world dynamic environment. Indeed, it is because of the fact that public sector projects like highways have to experience intense exposure to dynamic environments. Therefore, it is essential to appreciate the impacts of various dynamic factors (factors that change or progress with the system) on project performance. Thus, this paper presents various sustainability assessment tools that have been globally developed to determine sustainability performance of infrastructure projects during the design, procurement and commissioning phase. Indeed, identification of the current gaps in the available assessment methods provides a potential to add prominent part of knowledge in the field of ‘road project development systems and procedures’ that are generally used by road agencies.

Keywords: dynamic impact factors, micro and macro factors, sustainability assessment framework, sustainability performance

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Authors: Foluke Abimbola

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There are two separate groups of a recognised body of human rights. These are known as Civil and Political Rights, and Economic and Social Rights. There is however an impression that civil and political rights are enforceable in courts while socio-economic rights are not. Nigeria is an example of one of such countries whose constitution has social, economic and cultural rights’ provisions as well as civil and political rights. However, the socio-economic rights provided in the Nigerian constitution are not justiciable or are unenforceable in a court of law. On the other hand, a comparative examination of the socio-economic right provisions in the South African constitution and judgments of the constitutional court of South Africa reveals that socio-economic rights may be enforceable. This position may ensure the protection of the socio-economic rights of the poor and vulnerable groups. These rights include the rights to food, adequate shelter, health, and education. Moreover, the African Charter on Human and Peoples’ Rights (African Charter) which incorporates similar socio-economic right provisions, has been recognized as a domestic law in Nigeria and its provisions are enforceable by the domestic courts by virtue of the African Charter on Human and People’s Rights (Ratification and Enforcement) Act Cap A9 Laws of the Federation of Nigeria 2004. It is not only a regional treaty signed and adopted by Nigeria but has been passed into law by the National Assembly and can be enforced like any other local law. This paper will propose that in view of the provisions of the African Charter and mechanisms for implementation as well as other international conventions and national constitutional provisions on human rights, domestic courts may be able to assess state responsibilities in the light of socio-economic rights. Cases decided by South African courts and other jurisdictions will be discussed in order to lend weight to the notion that socio-economic rights can be enforced in jurisdictions such as Nigeria even though the constitution provides otherwise.

Keywords: african charter, constitutional court of south africa, nigerian constitution, socio-economic rights, south african constitution

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Authors: David Quevedo, Diana Coronel

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The present article carries out an evaluation of the drinking water system in the Bellavista sector of the city of Azogues, with the purpose of determining the appropriate equipment to record the actual consumption flows of the inhabitants in said sector. Taking into account that the study area is located in a rural and economically disadvantaged area, there is an urgent need to establish a control system for the consumption of drinking water in order to conserve and manage the vital resource in the best possible way, considering that the water source supplying this sector is approximately 9km away. The research began with the collection of cartographic, demographic, and statistical data of the sector, determining the coverage area, population projection, and a provision that guarantees the supply of drinking water to meet the water needs of the sector's inhabitants. By using hydraulic modeling through the United States Environmental Protection Agency Application for Modeling Drinking Water Distribution Systems EPANET 2.0 software, theoretical hydraulic data were obtained, which were used to design and justify the most suitable measuring equipment for the Bellavista drinking water system. Taking into account a minimum service life of the drinking water system of 30 years, future flow rates were calculated for the design of the macro-measuring device. After analyzing the network, it was evident that the Bellavista sector has an average consumption of 102.87 liters per person per day, but considering that Ecuadorian regulations recommend a provision of 180 liters per person per day for the geographical conditions of the sector, this value was used for the analysis. With all the collected and calculated information, the conclusion was reached that the Bellavista drinking water system needs to have a 125mm electromagnetic macro-measuring device for the first three quinquenniums of its service life and a 150mm diameter device for the following three quinquenniums. The importance of having equipment that provides real and reliable data will allow for the control of water consumption by the population of the sector, measured through micro-measuring devices installed at the entrance of each household, which should match the readings of the macro-measuring device placed after the water storage tank outlet, in order to control losses that may occur due to leaks in the drinking water system or illegal connections.

Keywords: macrometer, hydraulics, endowment, water

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Authors: Nada Souissi, Mourad Mroua

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The main purpose of this study is to examine the interaction between financial asset volatility, economic factors and investor's behavioral indicators related to both the company's and the markets stocks for the period from January 2000 to January2020. Using multiple linear regression and Bayesian Networks modeling, results show a positive and negative relationship between investor's psychology index, economic factors and predicted stock market return. We reveal that the application of the Bayesian Discrete Network contributes to identify the different cause and effect relationships between all economic, financial variables and psychology index.

Keywords: Financial asset return predictability, Economic factors, Investor's psychology index, Bayesian approach, Probabilistic networks, Parametric learning

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Authors: Alfred Quarcoo

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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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Authors: M. G. Shilina

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The prospects for political and economic development of the Eurasian space are currently discussed at both governmental and expert levels. New concepts actively proposed by the Eurasian governments require the analysis and search for effective implementation options. In the paper, an attempt to identify effective solutions to the problems surrounding the current economic integration of the Eurasian states is given on the basis of an interdisciplinary, comprehensive, structured analysis. The phenomenon is considered through the prism of the international law, world economy and politics, combined with the study of existing intergovernmental practice. The modeling method was taken as the basis for the research and is supplemented by legal and empirical methods. The detailed multi-level model of practical construction the 'Great Eurasia' (the GE) concept is proposed, the option for building a phased interaction in Eurasia is given through the prism of construction by the Eurasian Economic Union (the EAEU) as the main tool. The Shanghai Cooperation Organization (the SCO) is seen as the most promising element of the model. The SCO is capable of streamlining the formation of the GE and determine the transformation of Eurasia into a common economic space. Effective development of the economic integration between Eurasian states on the framework of the SCO is optimal. The SCO+ could be used as a platform for integration-integration processes formation. The creation of stable financial ties could become the basis for the possible formation of an expanded transregional integration platform. The paper concludes that the implementation of the proposed model could entail a gradual economic rapprochement of Eurasia and beyond.

Keywords: economic integration, The Eurasian Economic Union, The European Union, The Shanghai Cooperation Organization, the silk road economic belt

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Authors: Zidane Abderrezzaq

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In contrast to recent successful developments in macro monetary policies, the modelling, measurement and management of systemic financial stability has remained problematical. Indeed, the focus of most effort has been on improving individual, rather than systemic, bank risk management; the Basel II objective has been to bring regulatory bank capital into line with the (sophisticated) banks’ assessment of their own economic capital. Even at the individual bank level there are concerns over appropriate diversification allowances, differing objectives of banks and regulators, the need for a buffer over regulatory minima, and the distinction between expected and unexpected losses (EL and UL). At the systemic level the quite complex and prescriptive content of Basel II raises dangers of ‘endogenous risk’ and procyclicality. Simulations suggest that this latter could be a serious problem. In an extension to the main analysis we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tiering) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out.

Keywords: systemic stability, financial regulation, credit risk, systemic risk

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Authors: C. M. Cebola, V. H. Ferreira

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In the past decade mediation has been legally implemented in European legal systems, especially after the publication by the European Union of the Directive 2008/52/EC on certain aspects of mediation in civil and mercantile matters. Developments in international trade and globalization in this new century have led to an increase of the number of litigations, often cross-border, and the courts have failed to respond adequately. We do not advocate that mediation should be promoted as the solution for all justice problems, but as a means with its own specificities that the parties may choose to consider as the best way to resolve their disputes. Thus, the implementation of mediation should be based on the advantages of its application. From the economic point of view, competitive negotiation can generate negative external effects in social terms. A solution reached in a court of law is not always the most efficient one considering all elements of society (economic social benefit). On the other hand, the administration of justice adds in economic terms transaction costs that can be mitigated by the application of other forms of conflict resolution, such as mediation. In this paper, the economic benefits of mediation will be analysed in the light of various studies on the functioning of justice. Several theoretical arguments will be confronted with empirical studies to demonstrate that mediation has significant positive economic effects. The objective is to contribute to the dissemination of mediation between companies and citizens, but also to demonstrate the cost to governments and states of still limited use of mediation, particularly in the current economic crisis and propose actions to develop the application of mediation.

Keywords: economic impact, litigation costs, mediation, solutions

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Authors: Simon Elias Bibri, Vera Minavere Bardici

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In this article, we investigate framing, discursive and material selectivity as important issues that need to be addressed in the planning of eco–city as a model of sustainable urban form. Focusing on the Stockholm region in Sweden, we discuss issues of the contribution of eco–city model to sustainability and examine key themes associated with the construction of the discourse on eco–city projects, namely the integration of environmental, economic, and social sustainability as well as design and technology as solutions in urban projects documents pertaining specifically to Hammarby Sjöstad and Stockholm Royal Seaport. The article is divided into four sections. First, we elucidate the concept and problem of framing and discursive and material selectivity. Second, we briefly discuss the discourse of sustainability, sustainable urban forms, and eco–city, pointing out some key issues that need to be addressed in sustainable urban planning. In the third and main section of the article, we investigate plans and projects for sustainable urban development, focusing on framing and discursive and material selectivity issues in the construction of the discourse on eco–city projects in Stockholm and discussing the findings in terms of the integration of sustainability dimensions, the economic benefits of and the negative environmental effects of energy efficiency and green technology, the shaping influence of cultural frames, the links of eco–city to macro–processes of regulation, the technological orientation of eco–city projects and the associated selectivity aspects. The article concludes with a call for further research for the possibilities for a more environmentally sound and holistic approach to sustainable urban forms.

Keywords: framing, selectivity, sustainability, eco–city, sustainable urban form, design, energy efficiency, green technology, Hammarby Sjöstad, Stockholm Royal Seaport

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Authors: Khaled Ramadan Elbeydi

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This study is carried out to provide an insight into the analysis of the impact of selected macro-economic variables on gross fixed capital formation in Libya using annual data over the period (1970-2010). The importance of this study comes from the ability to show the relative important factors that impact the Libyan gross fixed capital formation. This understanding would give indications to decision makers on which policy they must focus to stimulate the economy. An Auto-Regressive Distributed Lag (ARDL) modeling process is employed to investigate the impact of the gross domestic product, monetary base, and trade openness on gross fixed capital formation in Libya. The results of this study reveal that there is an equilibrium relationship between capital formation and its determinants. The results also indicate that GDP and trade openness largely explain the pattern of capital formation in Libya. The findings and recommendations provide vital information relevant for policy formulation and implementation aimed to improve capital formation in Libya.

Keywords: ARDL, bounds test, capital formation, co-integration, Libya

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Authors: Krasimir Ivanov, Tonyo Tonev, Nguyen Nguyen, Alexander Peltekov, Anyo Mitkov

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Maize is among the most economically important crops and at the same time one of the most sensitive to soil deficiency in zinc. In this paper, the impact of the foliar zinc application in the form of zinc hydroxy nitrate suspension on the micro and macro elements partitioning in maize leaves and grain was studied during spring maize season, 2017. The impact of the foliar zinc fertilization on the grain yield and quality was estimated too. The experiment was performed by the randomized block design with 8 variants in 3 replications. Seven suspension solutions whit different Zn concentration were used, including ZnO suspension and zinc hydroxyl nitrate alone or nixed with other nutrients. Fertilization and irrigation were the same for all variants. The Zn content and the content of selected micro (Cu, Fe) and macro (Ca, Mg, P and K) elements in maize leaves were determined two weeks after the first spraying (5-6 sheets), two weeks after the second spraying (9-10 sheets) and after harvesting. It was concluded that the synthesized zinc hydroxy nitrate demonstrates potential as the long-term foliar fertilizer. A significant (p < 0.05) effect of zinc accumulation in maize leaves by foliar zinc application during the first growth stage was found, followed by its reutilization to other plants organs during the second growth stage. Significant export of Cu, P, and K from lower and middle leaves was observed. The content of Ca and Mg remains constant in the whole longevity period, while the content of Fe decreases sharply.

Keywords: foliar fertilization, zinc hydroxy nitrate, maize, zinc

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Authors: John Ahluwalia

Abstract:

As an affluent first-world nation, Canada took swift and comprehensive action during the outbreak of the SARS-CoV-2 (COVID-19) pandemic compared to other countries in the same socio-economic cohort. The United States has stumbled to overcome obstacles most developed nations have faced, which has led to significantly more per capita cases and deaths. The initial outbreaks of COVID-19 occurred in the US and Canada within days of each other and posed similar potentially catastrophic threats to public health, the economy, and governmental stability. On a macro level, events that take place in the US have a direct impact on Canada. For example, both countries tend to enter and exit economic recessions at approximately the same time, they are each other’s largest trading partners, and their currencies are inexorably linked. Variables intrinsic to Canada’s national infrastructure have been instrumental in the country’s efforts to flatten the curve of COVID-19 cases and deaths. Canada’s coordinated multi-level governmental effort has allowed it to create and enforce policies related to COVID-19 at both the national and provincial levels. Canada’s policy of universal health care is another variable. Health care and public health measures are enforced on a provincial level, and it is within each province’s jurisdiction to dictate standards for public safety based on scientific evidence. Rather than introducing confusion and the possibility of competition for resources such as PPE and vaccines, Canada’s multi-level chain of government authority has provided consistent policies supporting national public health and local delivery of medical care. This paper will demonstrate that the coordinated efforts on provincial and federal levels have been the linchpin in Canada’s relative success in containing the deadly spread of the COVID-19 virus.

Keywords: COVID-19, canada, GIS, geospatial analysis

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Authors: HengJiang Cai, RuiJin Zhang, JinSong Gui

Abstract:

Enhanced UV-B (280-320nm) radiation resulting from ozone depletion was one of the global environmental problems. The effects of enhanced UV-B radiation on marine macro-algae were exposed to be the greatest in shallow intertidal environments because the macro-alga was often at or above the water during low tide. Ulva pertusa Kjellman was belonged to Chlorophyta (Phylum), Ulvales (Order), Ulvaceae (Family) which was widely distributed in the western Pacific coast, and the resources were extremely rich in China. Therefore, the effects of UV-B radiation on the growth of Ulva pertusa seedling were studied in this research. Ulva pertusa seedling appearances were mainly characterized by rod shapes and tadpole shapes. The percentage of rod shapes was 90.68%±2.50%. UV-B radiation could inhibit the growth of Ulva pertusa seedling, and the growth inhibition was more significant with the increased doses of UV-B radiation treatment. The relative inhibition rates of Ulva pertusa seedling length were16.11%, 24.98%and 39.04% respectively on the 30th day at different doses (30.96, 61.92 and 123.84 Jm-2d-1) of UV-B radiation. Ulva pertusa seedling had emerged death under UV-B radiation, and the death rates were increased with the increased doses of UV-B radiation treatment. Physiology and biochemistry of Ulva pertusa seedling could be affected by UV-B radiation treatment. The SOD (superoxide dismutase) activity was increased at low-dose UV-B radiation (30.96 Jm-2d-1), while was decreased at high-dose UV-B radiation (61.92 and 123.84 Jm-2d-1). UV-B radiation could inhibit CAT (catalase) activity all the while. It speculated that the reasons for growth inhibition and death of Ulva pertusa seedling were excess ROS (reactive oxygen species), which produced by UV-B radiation.

Keywords: growth, physiology and biochemistry, Ulva pertusa Kjellman, UV-B radiation

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Authors: Maman Ali M. Moustapha, Qian Yu, Benjamin Adjei Danquah

Abstract:

This paper investigates the dynamic interaction between renewable energy consumption (REC) and economic growth using dataset from the Economic Community of West African States (ECOWAS) from 2002 to 2016. For this study the Autoregressive Distributed Lag- Bounds test approach (ARDL) was used to examine the long run relationship between real gross domestic product and REC, while VECM based on Granger causality has been used to examine the direction of Granger causality. Our empirical findings indicate that REC has significant and positive impact on real gross domestic product. In addition, we found that REC and the percentage of access to electricity had unidirectional Granger causality to economic growth while carbon dioxide emission has bidirectional Granger causality to economic growth. Our findings indicate also that 1 per cent increase in the REC leads to an increase in Real GDP by 0.009 in long run. Thus, REC can be a means to ensure sustainable economic growth in the ECOWAS sub-region. However, it is necessary to increase further support and investments on renewable energy production in order to speed up sustainable economic development throughout the region

Keywords: Economic Growth, Renewable Energy, Sustainable Development, Sustainable Energy

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Authors: Kurotimi Maurice Fems, Abara Onu, Francis W. D. Poazi

Abstract:

Scholars and development economists believe that the development of an economy depends largely on the creative and innovative ingenuity of its entrepreneurs. Others however, are of the opinion that the lack of entrepreneurs or entrepreneurial activities is not a constraint to economic development in any economy, particularly Nigeria. This paper sets out to explore the connectivity between entrepreneurship and economic development from a theoretical point of view, principally in Nigeria. A desk research approach was adopted where a conglomerate of literatures was reviewed on how entrepreneurship can spur economic growth or otherwise. The findings reveal that entrepreneurship is vital to the development of Nigeria and that, universities and other Higher Education Institutions must play the vital role of educating the people on entrepreneurship skills and competences. However, the problems and difficulties entrepreneurs face in Nigeria and the same problems suffocating the growth and development of its economy. Therefore, entrepreneurship cannot be said to be the sole cure for economic under-development in Nigeria but rather other factors such as empowering and granting the institutions autonomy and the provision of infrastructural capability, such as consistent electricity generation and supply, good system of transportation, implementing proposed economic policies in an effective and efficient manner etc., the cultural beliefs and mindset of the citizenry, was also found to be key in the development of any economy.

Keywords: economic underdevelopment, entrepreneurial, entrepreneurship, infrastructural under-development, oil boom, SMEs, unemployable

Procedia PDF Downloads 248