Search results for: social economy

Authors: Reinhard Neck, Guido Schäfer

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In this paper, we explore the macroeconomic effects of the European Single Market on Austria by simulating the McKibbin-Sachs Global Model. Global interdependence and the impact of long-run effects on short-run adjustments are taken into account. We study the sensitivity of the results with respect to different assumptions concerning monetary and fiscal policies for the countries and regions of the world economy. The consequences of different assumptions about budgetary policies in Austria are also investigated. The simulation results are contrasted with ex-post evaluations of the actual impact of Austria’s membership in the Single Market. As a result, it can be concluded that the Austrian participation in the European Single Market entails considerable long-run gains for the Austrian economy with nearly no adverse side-effects on any macroeconomic target variable.

Keywords: macroeconomics, European Union, simulation, sensitivity analysis

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Authors: Erisasadat Sahebzamani, Núria Forcada, Francisco Lendinez

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Global climate change has become increasingly problematic over the past few decades. The construction industry has contributed to greenhouse gas emissions in recent decades. Considering these issues and the high demand for materials in the construction industry, Circular Economy (CE) is considered necessary to keep materials in the loop and extend their useful lives. By providing tangible benefits, Construction 4.0 facilitates the adoption of CE by reducing waste, updating standard work, sharing knowledge, and increasing transparency and stability. This study aims to present a framework for integrating CE and digital tools like Building Information Modeling (BIM) and Virtual Reality (VR) to examine the impact on the construction industry based on stakeholders' perspectives.

Keywords: circular economy, building information modeling, virtual reality, stakeholder engagement

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Authors: J. Burlakovs, Y. Jani, L. Grinberga, M. Kriipsalu, O. Anne, I. Grinfelde, W. Hogland

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The worldwide future sustainable economies are oriented towards the sea: the maritime economy is becoming one of the strongest driving forces in many regions as population growth is the highest in coastal areas. For hundreds of years sea resources were depleted unsustainably by fishing, mining, transportation, tourism, and waste. European Sustainable Development Strategy is identifying and developing actions to enable the EU to achieve a continuous, long-term improvement of the quality of life through the creation of sustainable communities. The aim of this paper is to provide insight in Baltic Sea Region case studies on implemented actions on tourism industry waste and beach wrack management in coastal areas, hazardous contaminants and plastic flow treatment from waste, wastewaters and stormwaters. These projects mentioned in study promote successful prevention of contaminant flows to the sea environments and provide perspectives for creation of valuable new products from residuals for future circular economy are the step forward to green innovation winning streak.

Keywords: resilience, hazardous waste, phytoremediation, water management, circular economy

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Authors: Rob Waddle

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We study an economy with weak justice and security systems and with weak public policy and regulation or little capacity to implement them, and with high barriers to profitable sectors. We look at growth and development opportunities based on the derived demand. We show that there is hope for such an economy to grow up and to generate a win-win situation for all stakeholders if the derived demand is supplied. We then investigate conditions that could stimulate the derived demand supply. We show that little knowledge of public, private and international expenditures in the economy and academic tools are enough to trigger the derived demand supply. Our model can serve as guidance to donor and NGO working in developing countries, and show to media the best way to help is to share information about existing and accessible opportunities. It can also provide direction to vocational schools and universities that could focus more on providing tools to seize existing opportunities.

Keywords: growth, development, monopoly, oligopoly, inequality

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

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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

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Authors: Nino Grigolaia

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Introduction. The paper discusses the role of the manufacturing industry in the Georgian economy, analyzes the current trends in the development of the manufacturing industry, reveals its impact on the Georgian economy, and justifies the essential importance of industrial transformation for the future development of the Georgian economy. Objectives. The main objective of research is to study development trends of the manufacturing industry of Georgia and estimate the industrial policy in Georgia. Methodology. The paper uses methods of induction, deduction, analysis, synthesis, analogy, correlation, and statistical observation. A qualitative study was conducted based on a survey of industry experts and entrepreneurs in order to identify the factors hindering and contributing to the manufacturing industry. Conclusions. The research reveals that the development of the manufacturing industry and the formation of industrial policy are of special importance for the further growth and development of the Georgian economy. Based on the research, the factors promoting and hindering the development of the manufacturing industry are identified. The need to increase foreign direct investment in the industrial sector are highlighted. Recommendations for the development of the country's manufacturing industry are developed, taking into account the competitive advantages and international experience of Georgia.

Keywords: manufacturing, industrial policy, contributing factor, hindering factor

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Authors: Paulson Young Ofenimu Okhawere

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Research suggests that the main trait differentiating social entrepreneurs from traditional entrepreneurs is empathy. And although prior research has established the relevance of empathy in predicting social entrepreneurial intentions in different contexts, its usefulness at predicting social entrepreneurial intentions in emerging economy like Nigeria is yet to be well established. Whereas, it is well known that students in tertiary institutions in Nigeria (e.g. Universities, Polytechnics, and Colleges of Education) are given entrepreneurial orientations by being made to offer compulsory courses in entrepreneurship, research focusing on the effect of such students’ entrepreneurial orientation on entrepreneurial intentions is scant. To address this gap in the entrepreneurship literature, this study attempts to enhance our understanding by focusing on students selected from one University of Technology, one Polytechnic, and one College of Education in Niger State of Nigeria. The purpose of this study, therefore, is to examine the mechanism through which students’ institutional level entrepreneurial orientations affect their social entrepreneurial intentions and the role empathy plays in this relationship. Building on complexity theory (Satish & Streufert, 2003, 2001), this study proposes empathy as a proximal antecedent of social entrepreneurial intentions and that it is the mechanism through which the students’ entrepreneurial orientations affect their social entrepreneurial intentions. Data collected from 598 respondents were analyzed using multilevel structural equation modelling with Mplus version 7.3. The findings reveal that (i) although students’ entrepreneurial orientation directly relates to their social entrepreneurial intentions, this relationship differs according to the kind of institution; and (ii) students’ entrepreneurial orientations positively relates to social entrepreneurial intentions indirectly through empathy. Finally, the paper discusses the theoretical and practical implications of the findings, highlights the study’s strengths and limitations, and then maps out some directions for future research.

Keywords: institutional level, entrepreneurial orientation, empathy, social entrepreneurial intentions

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Authors: Mohammad Mushir Khan, C. Satyanarayana

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Education is considered as one of the prime bottlenecks in the economic growth of India. The Ministry of Human Resource & Development, Government of India has, therefore, given special attention to this issue and the Gross Enrollment Ratio (GER) in Higher Education has increased marginally during last five years, with the efforts and various policy decisions like Right to Education (RTE) and other fee reimbursement schemes, initiated by the State Governments. But still this is one of the lowest, if assessed at the global level. It is true that the GER has improved but the survey reveals that the quality has been badly affected. This paper tries to assess the impact of lack of quality education in various sectors that affects Indian Economy and thereby signifies the need of immediate policy decision at the government level. It is to be noted that in higher education, science, management, engineering and technology plays vital role as far as shaping country’s economy is concerned and as such the quality needs to be addressed, particularly, in these streams. The paper, after carefully studying lots of survey reports and other government/ non-government documents recommends measures to be initiated by the Central Government, on priority, for improving quality of education. The quality up-gradation in higher education single handedly provides real fuel to the India’s growth Engine, as it has potential to touch each and every sector that strengthens country’s economy.

Keywords: higher education, economy, accreditation, industry, technology

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Authors: I. Martins, A. Martins

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The European Union supports social and civil competencies as being a core element to develop sustainability of organizations, people and regions. These competencies are fundamental for the well-being of the community because they include interpersonal, intrapersonal as well as their civil, active and democratic participation in organizations. The combination of these competencies reveals the organizational socio-emotional maturity and allows relevant levels of performance. It also allows the development of various capitals, namely, human, structural, relational and social, with direct influence on performance. But along this path, the emotional aspect has not been valued as a capital, given that contemporary society is based on knowledge capital and is flooded with information viewed as a capital. The present study, based on the importance of these socio-emotional capitals, aims to show that the competencies of cooperation, interpersonal understanding, empathy, kindness, ability to listen, and tolerance, to mention a few, are strategic in consolidating knowledge within organizations. This implies that the humanizing processes, both inside and outside the organizations, are revitalized. The question is how to go about doing this and its implementation; as well as, where to begin and which guidelines to take on. These are the foci that guide the present study, bearing in mind the directions of the knowledge economy.

Keywords: civil competencies, humanizing, performance, social competencies

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Authors: Paolo Russu

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The purpose of the present paper is to highlight some features of an economic growth model with environmental negative externalities, giving rise to a three-dimensional dynamic system. In particular, we show that the economy, which is based on a Perfect-Substitution Technologies function of production, has no neither indeterminacy nor poverty trap. This implies that equilibrium select by economy depends on the history (initial values of state variable) of the economy rather than on expectations of economies agents. Moreover, by contrast, we prove that the basin of attraction of locally equilibrium points may be very large, as they can extend up to the boundary of the system phase space. The infinite-horizon optimal control problem has the purpose of maximizing the representative agent’s instantaneous utility function depending on leisure and consumption.

Keywords: Hopf bifurcation, open-access natural resources, optimal control, perfect-substitution technologies, Poincarè compactification

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Authors: Zeynep Karaçor, Volkan Alptekin, Gökhan Akar, Tuba Akar

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This paper aims to review the phenomenon of triplet deficit which is called interaction of budget balance that make up the overall balance of the economy, investment savings balance and current accounts balance in terms of Turkey. In this paper, triplet deficit state in Turkish economy has been analyzed with vector autoregressive model and Granger causality test using data covering the period of 1980-2010. According to VAR results, increase in current accounts is perceived on public sector borrowing requirement. These two variables influence each other bilaterally. Therefore, current accounts increase public deficit, whereas public deficit increases current accounts. It is not possible to mention the existence of a short-term Granger causality between variables at issue.

Keywords: internal and external deficit, stability, triplet deficit, Turkey economy

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Authors: Aimen Batool Bint-E-Rashid, Huma Irfan

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This research aims to investigate the role of social media (Snapchat, Facebook, Twitter, etc.) in our daily lives and its implication on our everyday routine in the form of stressors. The study has been validated by a social media survey with 150 social media users belonging to various age groups. The study explores how social media can make an individual anti-social in his or her life offline. To explain the phenomenon, we have proposed and evaluated a model based on social media usage and stressors including burnout and social overload. Results, through correlation and regression tests, have revealed that with increase in social media usage, social overload and burnout also increases. Evidence for the fact that excessive social media usage causes social overload and burnout has been provided in the study.

Keywords: burnout, emotional exhaustion, fatigue, stressors, social networking, social media, social overload

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Authors: Onyeke Paul Chuks

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Nigeria is ranked among the developing nations and a country with a low income per capita. The consequences of this economic situation have led to the low achievement records below UN benchmark especially in the area of basic education for her citizens. The country is, however, making relentless efforts at arresting the situation by making budgetary allocations to ensure the realization of Millennium Development Goal No. 2 which is achieving universal basic education, her distressed economy notwithstanding. Basic education which comprises primary and lower secondary education as well as pre-primary and/or adult literacy programs have suffered serious setbacks orchestrated by the dwindling of the nation’s economy. This category of education being the bedrock of all other levels of education is regarded as a priority by developing countries and also the focus of the Education for All Movement led by UNESCO. The introduction of child-friendly school model is one of the strategies designed by UNESCO to achieving this all important MDGs goal No. 2. Child-friendly education model is aimed at replacing the out-dated, mundane, regimented and officious school administrative model where the basic rights of school children are trampled upon with impunity and community participation in school activities is viewed as unnecessary interference by school managers. This paper ex-rayed the potential obstacles likely to impinge on the implementation of child-friendly school model in Nigeria especially from the angle of her distressed economy and the colossal effects of the corrupt practices bedeviling the nation. The paper as well outlines prospects for the successful implementation of the child-friendly school model in Nigeria.

Keywords: child-friendly school, distressed economy, model, Nigeria

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Authors: Abdullateef Abdulkarim Jimoh, Muhammad Lawal A., Usman Muhammad, Hamisu Abdullahi, Nuhu Abdullahi Jega

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Smart city projects can be aided by urban development policies in public facilities, but economic resources to finance urban system reorganization is an issue to various governments. This is further compounded with the impact of the slowing down of national economies. The aim of this paper is to emphasize the need to prioritize the economic benefits of smart city projects and, specifically, in towns transforming into cities like Birnin kebbi. The smart-city projects can aim at developing a new form of ‘‘modernity and civilization’’ of the productive economy. This study adopts the descriptive statistical approach to identify the key performance indicators (KPI) for tracking the progress of cities and its developmental objectives. It has been established that numerous aspects of the modernization policies can enhance the competitiveness of territories, particular in aspects of social cohesion, the diffusion of knowledge, creativity, accessibility, etc.

Keywords: economy, economic policy, public facilities, smart city, urbanization

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Authors: Robert L. Williamson

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A 'token economy' refers to a method of positive behaviour support whereby ‘tokens’ are delivered to students as a reward for exhibiting specific behaviours. Students later exchange tokens to ‘purchase’ items of interest. Unfortunately, implementation fidelity can be problematic as some find physical delivery of tokens while teaching difficult. This project developed and tested a prototype, iPad-based tool that enabled teachers to deliver and track tokens electronically. Using an alternating treatment design, any differences in on-task individual and/or group behaviours between the virtual versus physical token delivery systems were examined. Results indicated that while students and teachers preferred iPad-based implementation, no significant difference was found concerning on-task behaviours of students between the two methodologies. Perhaps more interesting was that the teacher found implementation of both methods problematic and suggested a second person was most effective in implementing a token economy method. This would represent a significant cost to the effective use of such a method. Further research should focus on the use of a lay volunteer regarding method implementation fidelity and associated outcomes of the method.

Keywords: positive behaviour support, inclusion, token economy, applied behaviour analysis

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Authors: Yuchen Niu, Liang Zhao, Fangfang Xie, Weiyu Liu

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In the past decades, rapid urbanization in China has significantly promoted economic growth and caused a large number of environmental problems. In consideration of land resources shortage, high-density cities will become a common phenomenon in the future. How to improve the living environment under high density is a new challenge. Shenzhen is a typical high-density city, but also the forefront of China's development and reform area. This study selects 9 urban parks with different natural attributes in Shenzhen and explores the relationship of natural, economic, and social conditions within the service scope. Based on correlation analysis and system analysis, the results indicate that improvement of park design and management methods contribute to obtaining higher ecological value and promote economic and social development.

Keywords: correlation analysis, high-density city, park improvement, urban green spaces

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Authors: Cazadira Fediva Tamzil, Agung Sulthonaulia Utama

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The rise in popularity of Indonesian Islamic fashion displayed and sold through social networking sites, especially Instagram, might seem at first glance like a commonplace and localized phenomenon. However, when analyzed critically, it actually reveals the relations between the global and local Indonesian economy, as well as a deep socio-anthropological dimension relating to religion, culture, class, work, identity. Conducted using a qualitative methodology, data collection technique of literature review, and observation of various social networking sites, this research finds four things that lead to the aforementioned conclusion. First, the rise of online Islamic fashion retailers was triggered by the shift in the structure of global and national Indonesian economy as well as the free access of information made possible by democratization in Indonesia and worldwide advances in terms of technology. All of those factors combined together gave birth to a large amount of middle-class Indonesians with high consumer culture and entrepreneurial flair. Second, online Islamic fashion retailers are the new cultural trendsetters in society. All these show how Indonesians are becoming increasingly pious, no longer only adhere to Western conception of luxury and that many are increasingly exploiting Islam commercial and status-acquiring purposes. Third, the online Islamic fashion retailers actually reveal a shift in the conception of ‘work’ – social media has made work no longer only confined to the toiling activities inside factories, but instead something that can be done from any location only through posting online words or pictures that can increase a fashion product’s capital value. Without realizing it, many celebrities and online retailers who promote Islamic fashion through social media on a daily basis are now also ‘semi-free immaterial labors’ – a slight reconceptualization to Tiziana Terranova’s concept of ‘free labor’ and Maurizio Lazzarato’s ‘immaterial labor’, which basically refer to people who create economic value and thus help out capitals from producing immaterial things with only little compensation in return. Fourth, this research also shows that the diversity of Islamic fashion styles being sold on Instagram reflects the polarized identity of Islam in Indonesia. In stark contrast with the theory which states that globalization always leads to the strengthening and unification of identity, this research shows how polarized the Islamic identity in Indonesia really is – even in the face of globalization.

Keywords: global economy, Indonesian online Islamic fashion, political relations, socio-anthropology

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Authors: Krisztina Szegedi, Gyula Fülöp, Ádám Bereczk

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The shared goal of social entrepreneurship, corporate social responsibility and social innovation is the advancement of society. The business model of social enterprises is characterized by unique strategies based on the competencies of the entrepreneurs, and is not aimed primarily at the maximization of profits, but rather at carrying out goals for the benefit of society. Corporate social responsibility refers to the active behavior of a company, by which it can create new solutions to meet the needs of society, either on its own or in cooperation with other social stakeholders. The objectives of this article are to define concepts, describe and integrate relevant theoretical models, develop a model and introduce some examples of international practice that can inspire initiatives for social development.

Keywords: corporate social responsibility, CSR, social innovation, social entrepreneurship

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Authors: Naniek Widayati Priyomarsono

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Introduction: In beginning of Karaton formation, namely, era of Javanese kingdom town had the power region outside castle town (called as Mancanegara), settlement of karaton can function as “the space-between” and “space-defense”, besides it was one of components from governmental structure and karaton power at that time (internal servant/abdi dalem and sentana dalem). Upon the Independence of Indonesia in 1945 “Kingdom-City” converted its political status into part of democratic town managed by statutes based on the classification. The latter affects local culture hierarchy alteration due to the physical development and events. Dynamics of social economy activities in Kampung Karaton surrounded by buildings of Complex of Karaton Kasunanan ini, have impact on the urban system disturbed into the región. Also cultural region image fades away with the weak visual access from existant cultural artefacts. That development lacks of giving appreciation to the established region image providing identity of Karaton Kasunanan particularly and identity of Surakarta city in general. Method used is strategy of grounded theory research (research providing strong base of a theory). Research is focused on actors active and passive relevantly getting involved in change process of Karaton settlement. Data accumulated is “Investigation Focus” oriented on actors affecting that change either internal or external. Investigation results are coupled with field observation data, documentation, literature study, thus it takes accurate findings. Findings: Karaton village has potential products as attraction, possessing human resource support, strong motivation from society still living in that settlement, possessing facilities and means supports, tourism event-supporting facilities, cultural art institution, available fields or development area. Data analyzed: To get the expected result it takes restoration in social cultural development direction, and economy, with ways of: Doing social cultural development strategy, economy, and politics. To-do steps are program socialization of Karaton village as Tourism Village, economical development of local society, regeneration pattern, filtering, and selection of tourism development, integrated planning system development, development with persuasive approach, regulation, market mechanism, social cultural event sector development, political development for region activity sector. Summary: In case the restoration is done by getting society involved as subject of that settlement (active participation in the field), managed and packed interestingly and naturally with tourism-supporting facilities development, village of Karaton Kasunanan Surakarta is ready to receive visit of domestic and foreign tourists.

Keywords: karaton village, finding, restoration, economy, Indonesia

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Authors: Anar Koli

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After the Paris agreement in 2015, a comprehensive initiative both from the developed and developing countries towards the adaptation to climate change is emerging. The Global Environmental Facility (GEF), which is financing a global portfolio of adaptation projects and programs in over 124 countries is playing a significant role to a new financing framework that included the concept of “climate-resilient development”. However, both the adaptation and sustainable development paradigms remain continuously contested, especially the role of the multilateral institutions with their technical and financial assistance to the developing world. Focusing on the adaptation initiatives of the GEF, this study aims to understand to what extent the global multilateral institutions, particularly the GEF is contributing to the climate-resilient development. From the political ecology perspective, the argument of this study is that the global financial framework is highly politicized, and understanding the contribution of the global institutions of the global climate change needs to be related both from the response and causal perspectives. A holistic perspective, which includes the contribution of the GEF as a response to the climate change and as well the cause of global climate change, are needed to understand the broader environment- political economic relation. The study intends to make a critical analysis of the way in which the political economy structure and the environment are related along with the social and ecological implications. It does not provide a narrow description of institutional responses to climate change, rather it looks at how the global institutions are influencing the relationship of the global ecologies and economies. This study thus developed a framework combining the global governance and the political economy perspective. This framework includes environment-society relation, environment-political economy linkage, global institutions as the orchestra, and division between the North and the South. Through the analysis of the GEF as the orchestra of the global governance, this study helps to understand how GEF is coordinating the interactions between the North and the South and responding the global climate resilient development. Through the other components of the framework, the study explains how the role of the global institutions is related to the cause of the human induced global climate change. The study employs a case study based on both the quantitative and qualitative data. Along with the GEF reports and data sets, this study draws from an eclectic range of literature from a range of disciplines to explain the broader relation of the environment and political economy. Based on a case study on GEF, the study found that the GEF has positive contributions in bringing developing countries’ capacity in terms of sustainable development goal, local institutional development. However, through a critical holistic analysis, this study found that this contribution to the resilient development helps the developing countries to conform the fossil fuel based capitalist political economy. The global governance institution is contributing both to the pro market based environment society relation and, to the consequences of this relation.

Keywords: climate change adaptation, global environmental facility (GEF), political economy, the north -south relation

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Authors: Biniam Tedros Kahsay, Yohannes Yebabe Tesfay

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Eritrea is a country in the East of Africa. The country is a neighbor of Djibouti, Ethiopia, and Sudan and is bordered by the Red Sea. The country declared its independence from Ethiopia in 1993. Thus, Eritrea has a lot of commonalities with the Northern Part of Ethiopia's tradition, religion, and languages. Many economists suggested that Eritrea is in a very strategic position for world trade roots and has an impact on geopolitics. This study focused on identifying the most important factor in boosting the Eritrean Economy. The paper collected big secondary data from the World Bank, International Trade and Tariff Data (WTO), East African Community (EAC), Ethiopian Statistical Agency (ESA), and the National Statistics Office (Eritrea). Economists consider economic and population growth in determining trade belts in East Africa. One of the most important Trade Belt that will potentially boost the Eritrean economy is the root of Eritrea (Massawa)->Eritea, (Asmara)->Tigray, (Humora)->Tigray, (Dansha)-> Gondar-> Gojjam-> Benshangual Gumuz => {Oromia, South Sudan}->Uganda. The estimate showed that this is one of the biggest trade roots in East Africa and has a participation of more than 150 million people. We employed various econometric analyses to predict the GDP of Eritrea, considering the future trade belts in East Africa. The result showed that the economy of Eritrea from the Trade Belt will have an elasticity estimate of 65.87% of the GDP of Ethiopia, 3.32% of the GDP of South Sudan, and 0.09% of the GDP of Uganda. The result showed that the existence of war has an elasticity of -93% to the GDP of the country. Thus, if Eritrea wants to strengthen its economy from the East African Trade Belt, the country needs to permanently avoid war in the region. Essentially, the country needs to establish a collaborative platform with the Northern part of Ethiopia (Tigray). Thus, establishing a mutual relationship with Tigray will boost the Eritrean economy. In that regard, Eritrean scholars and policymakers need to work on establishing the East African Trade Belt to boost their economy.

Keywords: Eritrea, east Africa trade belt, GDP, cointegration analysis, critical path analysis

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Authors: Muhammad A. Ishaq, S. U. R. Aliyu

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This paper on an exposition of Islamic fiscal policy attempts to discuss the basic principles of Islamic fiscal policy in an Islamic economy. The paper presents a number of definitions of the subject matter, its nature and its tools of application. Government spending, taxation and public borrowings were identified as the tools of the policy. The paper identifies zakat both as a veritable source of revenue and a major instrument of economic stabilization. Furthermore, the paper presents an algebraic 2-sector and 3-sector models from the basic Keynesian model. The paper posits that in view of uniqueness of its instruments, absence of interest rate in the economy and the policy’s derive towards socioeconomic justice and redistribution, Islamic fiscal policy is capable of stabilizing Islamic economy and ushering it into the path of long term economic growth and prosperity.

Keywords: automatic built-in-stabilizers, government spending, Islamic fiscal policy, taxation, zakat

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Authors: Radin Siti Aishah Radin A Rahman, Norasmah Othman, Zaidatol Akmaliah Lope Pihie, Hariyaty Ab. Wahid

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The recent instability in economy was found to be influencing the situation in Malaysia whether directly or indirectly. Taking that into consideration, the government needs to find the best approach to balance its citizen’s socio-economic strata level urgently. Through education platform is among the efforts planned and acted upon for the purpose of balancing the effects of the influence, through the exposure of social entrepreneurial activity towards youth especially those in higher institution level. Armed with knowledge and skills that they gained, with the support by entrepreneurial culture and environment while in campus; indirectly, the students will lean more on making social entrepreneurship as a career option when they graduate. Following the issues of marketability and workability of current graduates that are becoming dire, research involving how far the willingness of student to create social innovation that contribute to the society without focusing solely on personal gain is relevant enough to be conducted. With that, this research is conducted with the purpose of identifying the level of entrepreneurial intention and social entrepreneurship among higher institution students in Malaysia. Stratified random sampling involves 355 undergraduate students from five public universities had been made as research respondents and data were collected through surveys. The data was then analyzed descriptively using min score and standard deviation. The study found that the entrepreneurial intention of higher education students are on moderate level, however it is the contrary for social entrepreneurship activities, where it was shown on a high level. This means that while the students only have moderate level of willingness to be a social entrepreneur, they are very committed to created social innovation through the social entrepreneurship activities conducted. The implication from this study can be contributed towards the higher institution authorities in prediction the tendency of student in becoming social entrepreneurs. Thus, the opportunities and facilities for realizing the courses related to social entrepreneurship must be created expansively so that the vision of creating as many social entrepreneurs as possible can be achieved.

Keywords: entrepreneurial intention, higher education institutions (HEIs), social entrepreneurship, social entrepreneurial activity, gender

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Authors: Marko Kolaković, Mladen Turuk

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Entrepreneurship is a valuable discipline important for the competitiveness of the European economy. The European Union's economy is constantly changing, and there is an increased demand for special knowledge and skills to help actors cope in a turbulent business environment. By promoting entrepreneurship in education, the citizens of the European Union are encouraged to be enterprising, innovative, and creative in designing solutions to perceived commercial and social problems in the form of offered products and services created as a result of the entrepreneurial process. The European Union has developed a series of guidelines to encourage entrepreneurship in education and training, and it supports entrepreneurship itself through various activities such as Erasmus + and other programs. A number of tools have been developed to support the development of entrepreneurial spirit among the citizens of the European Union. Special emphasis is placed on the methods of developing creativity, critical thinking, and the development of digital competencies. The aim of this paper is to investigate the initiatives of the European Union in the field of entrepreneurship education and to analyze the concept of entrepreneurship education in selected EU member states. Also, an overview of the desired learning outcomes acquired as a result of the successfully completed entrepreneurship education process will be provided.

Keywords: entrepreneurship, entrepreneurial education, EU, croatia

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Authors: Aarushi Baloria, Joshina Jamwal

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The paper attempts to understand the genesis of the Kashmir conflict, the LoC trade, and the various challenges which impede LoC trade. The paper further understands how this trade assists in mitigating tension between the countries and act as a conference building measure (CBM). The paper discusses later on the positive aspects of LoC trade with the help of statistical data like increase in state's economy along with negatives like smuggling of arms, drugs, swapping and interchanging of Hawala money and other unconstitutional activities like terrorism that took place on trade points across LoC. Moreover, the paper also mentioned in the international context; the episodes of Ireland of Europe, Palestine of Middle East, Uganda of Africa not only as transaction step but also as a peace channel between the fragmented parts. Thus, the paper, in a nutshell, reflects how the trade across LoC benefited in various psychological, economic, and political reasons, and it is worth taking risk, taking its overall positive things into consideration.

Keywords: drugs, economy, international, peace, psychological, trade

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Authors: Chaiwat Wuthinitikornkit

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Foreign Direct Investment (FDI) inevitably affects the landscape of the political economy of the host country. It is, therefore, significant to review and uncover how and in what way(s) FDI shapes the preferences of the interest groups within the host country, as such preferences may, in turn, influence the policies of the host country. By conducting a review of relevant literature, this paper attempts to outline the key forces behind such preferences and identify potential gaps for future studies. This paper argues that while existing theories have specified endowment and political and institutional factors as key explanations behind the preferences of domestic interest groups, other qualitative attributes of the foreign investors' side, such as their nationalities, have yet to be adequately investigated empirically and may potentially also possess explanatory power. This is particularly important in the current global economic landscape, where key global investors hail from origins from both developed and developing countries with diverse political systems and business practices. This paper aims to provide the groundwork for future studies on these potential gaps, which may provide not only contributions to the academic sphere but also practical insight into policymaking and business communities.

Keywords: foreign direct investment, interest groups, international political economy, political economy

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Authors: Bing-Shun Huang, Hung-Ju Chiu, Wen-Kai Hsieh, Hsiu-Chuan Lin, Ming-Lung Hung

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Taiwan's solar photovoltaic target in 2025 is 20 GW, of which the fish-electricity symbiosis target is 4 GW. In the future, many solar photovoltaic installations may cause local environmental or social impacts. Therefore, the Taiwan government inspects the fish-electricity symbiosis to reduce the impact of solar photovoltaics on the local environment or society. This stuy takes the symbiosis of fishery and electricity in Kaohsiung City as an example to explore Taiwan's environmental and social inspection practices. It mainly analyzes the two aspects of environmental ecology and social economy. The results show that the environmental inspection is mainly through site surveys, ecological information mapping, on-site interviews, and public consultation meetings. Social inspection mainly includes document analysis, on-site interviews, site surveys, expert discussions, and public consultations to identify possible local problems. Although the government had recognized the local issues, the future status may also change. It is recommended that future photoelectric companies should reconfirm the current situation of development sites when applying for the installation and propose countermeasures to solve the problem.

Keywords: taiwan, fish-electricity symbiosis, environment, society, inspection

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Authors: Innocent Felix Idoko

Abstract:

The development of indigenous entrepreneurship is critical to the achievement of sustainable development in the internationalized economy. Sustainable development implies a continuous stimulus of growth and improvement of an economy in a fairly stable manner. The paradigms of a globalization are numerous to mention. However, to a great extent, these are trade-offs and dilemmas for indigenous entrepreneurship, particularly in the developing economies with infant industries that are essentially crucial to development. This paper analyses the pros and cons of globalization as relates to the complementary role of both foreign and indigenous entrepreneurs, the conflict of values between globalization and protectionism for local entrepreneurship. Using analytical and descriptive approach, the views of academicians, research fellows, literature reviews and both the theories of the mercantilists and those of free trade mainstream economists, and the G20, the paper concludes that there is a legitimate need for protectionism for domestic entrepreneurship in the developing economies as doing otherwise amount to stifling them.

Keywords: developing countries, entrepreneurship, globalization, infant-industries, protectionism, sustainable development

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Authors: Homyr L. Garcia, Jr., Anne Margaret A. Rendon, Carla Michaela B. Taguinod

Abstract:

Nothing is constant in this world but change. This is the reality wherein a lot of people fail to recognize and maybe, it is because of the fact that some see things that are happening with little value or no value at all until it’s gone. For the past years, Egypt was known for its stable government. It was able to withstand a lot of problems and crisis which challenged their country in ways which can never be imagined. In the present time, it seems like in just a snap of a finger, the said stability vanished and it was immediately replaced by a crisis which resulted to a failure in some parts of their government. In addition, this problem continued to worsen and the current situation of Egypt is just a reflection or a result of it. On the other hand, as the researchers continued to study the reasons why the government of Egypt is unstable, they concluded that there might be a possibility that they will be able to produce ways in which their country could be helped or improved. The instability of the government of Egypt is the product of combining all the problems which affects the lives of the people. Some of the reasons that the researchers found are the following: 1) unending doubts of the people regarding the ruling capacity of elected presidents, 2) removal of President Mohamed Morsi in position, 3) economic crisis, 4) a lot of protests and revolution happened, 5) resignation of the long term President Hosni Mubarak and 6) the office of the President is most likely available only to the chosen successor. Also, according to previous researches, there are two plausible scenarios for the instability of Egypt: 1) a military intervention specifically the Supreme Council of the Armed Forces or SCAF, resulting from a contested succession and 2) an Islamist push for political power which highlights the claim that religion is a hindrance towards the development of their country and government. From the eight possible reasons, the researchers decided that they will be focusing on economic crisis since the instability is more clearly seen in the country’s economy which directly affects the people and the government itself. In addition, they made a hypothesis which states that stable economy is a prerequisite towards a stable government. If they will be able to show how this claim is true by using the Social Autopsy Research Design for the qualitative method and Pearson’s correlation coefficient for the quantitative method, the researchers might be able to produce a proposal on how Egypt can stabilize their government and avoid such problems. Also, the hypothesis will be based from the Rational Action Theory which is a theory for understanding and modeling social and economy as well as individual behavior.

Keywords: Pearson’s correlation coefficient, rational action theory, social autopsy research design, supreme council of the armed forces (SCAF)

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Authors: Ebim Matthew Abua

Abstract:

In Chinua Achebe’s Things Fall Apart (henceforth, TFA), the character Unoka is portrayed as a weakling and indolent person even when he was a creative artist, a talented musician, and a mathematician. His lack of achievement becomes the barometer for measuring his success. Right from time, music is considered to be of great significance because of its capacity to recreate and retell social events. To this end, music is both a social act and a creative art. As a social act, music is a discursive medium that exploits the dynamics of art in its evaluation of society. Music is so much a part of human existence that its presence in literature can help readers relate to fictional situations and characters. In this paper, the character Unoka is examined against the backdrop of his musical proclivities and his contributions to the overall development of TFA. Unfortunately, Achebe’s Things Fall Apart, a product of artistic creativity, portrays the personality of Unoka as lazy and uninspiring because he (Unoka) is a musician who is busy playing his flute and hardly doing anything productive. This paper is significant because it examines the literary and or linguistic depiction of Unoka and the aftermath of that depiction on the entire novel and, by extension, the larger society. Methodologically, this paper adopted the qualitative approach from the ethnography of communication (EOC), which is the analysis of communication within the wider context of the social and cultural practices and beliefs of the members of a particular culture or speech community. The aim of this qualitative research method includes the ability to discern which communication acts and/or codes are important to different groups, what types of meanings groups apply to different communication events, and how group members learn these codes to provide insight into particular communities. The study reveals that the people of Umuofia were mono-directional in their economy, and there was no room for diversification. One was either a farmer, or such a person was relegated to the background. Unoka, taking up a new challenge of diversifying the economy from the perspective of entertainment, was viewed as a misnomer. This study opens the door to other areas of studying Achebe’s epic novel apart from the critical works of literary artists that have been dished out over time.

Keywords: literature, popular culture, unoka, things fall apart

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