Search results for: emerging economy

Authors: Bubaker F. Shareia

Abstract:

The aim of this paper is to trace the historical development of the accounting profession in Libya, in order to identify challenges facing the profession as the country moves from a closed to emerging economy. The study is based on a literature review and archival research. Accounting information has a vital role to play in the achievement of economic goals in developing and emerging economies, but a well qualified accounting profession is required. In the context of institutional instability and unique cultural factors, the accounting profession in Libya faces educational and legal challenges if it is to achieve its potential in assisting the country to reach its economic goals. This study focuses on one country, which does limit its generalisability. However, it also suggests fruitful research areas in considering the impact and challenge of historic factors on the accounting profession in emerging economies. Centrally planned economies require a body of well trained professional accountants if they are to emerge onto the global economic arena. Studies on the accounting profession have focused primarily on those in developed economies, where the need for meaningful accounting information for decision making is taken for granted and there is a well trained, professional workforce. This study of the profession in an emerging economy highlights the efforts that will be needed to ensure the contribution of the profession to the economic wellbeing of other emerging economies.

Keywords: Accounting profession, developing countries, culture, planned economy, emerging economy.

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Authors: Amir Ikram, Qin Su, Muhammad Fiaz, Muhammad Waqas Shabbir

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Women entrepreneurship witnessed a healthy rise in the last decade or so, and the scenario in Pakistan is not different. However female leaders are facing various, cultural, career oriented, and professional challenges. The study investigates the impact of social and industry-specific challenges on female entrepreneurship; social challenges was evaluated in terms of culture, and industry-specific challenges was measured in terms of team management and career growth. Purposive sampling was employed to collect data from 75 multicultural organizations operating in the culturally diverse and historic city of Lahore, Pakistan. Cronbach’s alpha was conducted to endorse the reliability of survey questionnaire, while correlation and regression analysis were used to test hypotheses. Industry-specific challenges were found to be more significant as compared to cultural factors. The paper also highlights the importance of female entrepreneurship for emerging economies, and suggests that bringing women to mainstream professions can lead to economic success.

Keywords: Cultural challenges, emerging economy, female entrepreneurship, leadership.

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Authors: Hasan Atak

Abstract:

Emerging adulthood, between the ages of 18 and 25, as a distinct developmental stage extending from adolescence to young adulthood. The proportions composing the five-factor model are neuroticism, extraversion, openness to experience, agreeableness, and conscientiousness. In the literature, there is any study which includes the relationship between emerging adults loneliness and personality traits. Therefore, the relationship between emerging adults loneliness and personality traits have to be investigated. This study examines the association between the Big Five personality traits, and loneliness among Turkish emerging adults. A total of 220 emerging adults completed the NEO Five Factor Inventory (NEO-FFI), and the The UCLA Loneliness Scale (UCLALS). Correlation analysis showed that three Big Five personality dimensions which are Neuroticism (positively), and Extraversion and Aggreableness (negatively) are moderately correlated with emerging adults loneliness. Regression analysis shows that Extraversion, Aggreableness and Neuroticism are the most important predictors of emerging adults loneliness. Results can be discussed in the context of emerging adulthood theory.

Keywords: Personality, Big Five Traits, Loneliness, Turkish Emerging Adults

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Authors: Mohammed Agbali, Claudia Trillo, Yusuf Arayici, Terrence Fernando

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The wide-spread adoption of the Smart City concept has introduced a new era of computing paradigm with opportunities for city administrators and stakeholders in various sectors to re-think the concept of urbanization and development of healthy cities. With the world population rapidly becoming urban-centric especially amongst the emerging economies, social innovation will assist greatly in deploying emerging technologies to address the development challenges in core sectors of the future cities. In this context, sustainable health-care delivery and improved quality of life of the people is considered at the heart of the healthy city agenda. This paper examines the Boston innovation landscape from the perspective of smart services and innovation ecosystem for sustainable development, especially in transportation and healthcare. It investigates the policy implementation process of the Healthy City agenda and eHealth economy innovation based on the experience of Massachusetts’s City of Boston initiatives. For this purpose, three emerging areas are emphasized, namely the eHealth concept, the innovation hubs, and the emerging technologies that drive innovation. This was carried out through empirical analysis on results of public sector and industry-wide interviews/survey about Boston’s current initiatives and the enabling environment. The paper highlights few potential research directions for service integration and social innovation for deploying emerging technologies in the healthy city agenda. The study therefore suggests the need to prioritize social innovation as an overarching strategy to build sustainable Smart Cities in order to avoid technology lock-in. Finally, it concludes that the Boston example of innovation economy is unique in view of the existing platforms for innovation and proper understanding of its dynamics, which is imperative in building smart and healthy cities where quality of life of the citizenry can be improved.

Keywords: Smart city, social innovation, eHealth, innovation hubs, emerging technologies, equitable healthcare, healthy cities.

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Authors: V. Charaia

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From the strategic point of view, not all Foreign Direct Investments (FDIs) are always positively benefiting the host economy, i.e. not all Multinational Enterprises (MNEs) are promoting local/host economies. FDI could have different impact on different sectors of the economy, based not only on annual investment amount, but MNE motivations and peculiarities of the host economy in particular. FDI analysis based only on its amount can lead to incorrect decisions, it is much more important to understand the essence of investment. Consequently, our research is oriented on MNE’s motivations, answering which sectors are most popular among international investors and why, what motivated them to invest into one or another business. Georgian economy for the last period of time is attracting more and more efficiency seeking investments, which could be translated as - concentrating production in a limited number of locations to supply various markets, while benefiting local economy with: new technologies, employment, exports diversification, increased income for the local economy and so on. Foreign investors and MNEs in particular are no longer and not so much interested in the resource seeking investments, which was the case for Georgia in the last decade of XX century. Despite the fact of huge progress for the Georgian economy, still there is a room for foreign investors to make a local market oriented investments. The local market is still rich in imported products, which should be replaced by local ones. And the last but not the least important issue is that approximately 30% of all FDIs in Georgia according to this research are “efficiency seeking” investments, which is an enormous progress and a hope for future Georgian success.

Keywords: Investments, MNE, FDI motivations, Georgian economy.

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Authors: Qiu Dong-Fang, Li Bao-bao, Min Xing

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Low-carbon economy means the energy conservation and emission reduction. How to measure and evaluate the regional low-carbon economy is an important problem which should be solved immediately. This paper proposed the eco-efficiency ratio based on the ecological efficiency to evaluate the current situation of the low-carbon economy in Jiangsu province and to analyze the efficiency of the low-carbon economy in Jiangsu and other provinces, compared both advantages and disadvantages. And then this paper put forward some advices for the government to formulate the correct development policy of low-carbon economy, to improve the technology innovation capacity and the efficiency of resource allocation.

Keywords: Eco-efficiency ratio, Jiangsu, China, low-carbon economy.

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Authors: Kwok Tak Kit

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This research focuses mainly on the transformation of circular economy and specifically on the building and construction industry in Hong Kong. This research is going to investigate the current status of development and transformation of linear economy of Hong Kong into circular economy. The research is based on literature review and different published reports to outline the possibilities for further development and transformation of circular economy in Hong Kong. Different key factors affecting the transformation particularly in building and construction industry are discussed.

Keywords: Circular economy, LEED net zero, carbon emission, waste reduction, waste management.

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Authors: Viktorie Janečková, Petr Šnapka, Marie Mikušová

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This paper aims to initiate an analytical account of the issues of compliance with economy condition for incentive pay system application in an enterprise. Economy is considered one of the conditions for effective incentive pay system application another condition being the achievement of desired efficiency level of the incentive pay system application. Bonus pay system is discussed as an example.

Keywords: Cost analysis, economy, incentive pay system.

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Authors: Rasim M. Alguliyev, Alovsat G. Aliyev

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In the paper, information on economic development trends in developed countries are analyzed. The current status of information society and economy of the country is reviewed and some recommendations are given for future development. The problems of Information Society and establishment of its innovative economy are studied. In this turn, development trends information economy in developed countries are analyzed.

Keywords: Information economy, ICT sector, ICT infrastructure, innovation, innovation system hi-tech products, antimonopoly policy.

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Authors: Sadife Güngör, Sevilay Konya, Zeynep Karaçor

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Inflation and foreign trade are the most important economic indicator of a country. In this study, Turkey's economy with the policies adopted after 2000, given how performs an economic transformation. This transformation of the economy is discussed with inflation and foreign trade. In this context, attention is drawn to 2001 Strong Economy and Transition Program and 2006 Inflation Targeting Regime. The evaluation was performed of after the year 2000 inflation and foreign trade figures in Turkey economy. When we looked the progress, after 2000 in Turkey economy, we can say a new process was built up.

Keywords: Inflation, foreign trade, 2001 strong economy program, 2006 ınflation targeting regime.

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Authors: José Carlos Rodríguez, Mario Gómez

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The aim of this paper is to get insight on the nature of university-industry technology transfer (UITT) and technology transfer offices (TTOs) activity at universities in the case of emerging economies. In relation to the process of transferring knowledge/technology in the case of emerging economies, knowledge/technology transfer in these economies are more reactive than in developed economies due to differences in maturity of technologies. It is assumed in this paper that knowledge/technology transfer is a complex phenomenon, and thus the paper contributes to get insight on the nature of UITT and TTOs creation in the case of emerging economies by using a system dynamics model of knowledge/technology transfer in these countries. The paper recognizes the differences between industrialized countries and emerging economies on these phenomena.

Keywords: University-industry technology transfer, technology transfer offices, technology transfer models, emerging economies.

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Authors: Hamid Alalwany, Nabeel A. Koshak, Mohammad K. Ibrahim

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Both knowledge economy and sustainable development are considered key dimensions in the policy action lines of many developed and developing countries. In this context, universities and other higher education institutes have a vital role in developing and sustaining wellbeing communities.

In this paper, the authors’ aim is to address the links between the concepts of innovation and entrepreneurial capacity and knowledge economy, and to utilize the approach of intellectual capital development in building a sustainable knowledge economy.

The paper will contribute to two discourses:

1. Developing a common understanding of the intersection aspects between the three concepts: Knowledge economy, Innovation and entrepreneurial system, and sustainable development.
2. Paving the road towards developing an integrated multidimensional framework for sustainable knowledge economy.

Keywords: Innovation and Entrepreneurial Capacity, Intellectual Capital Development, Sustainable Development, Sustainable Knowledge Economy.

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Authors: Subramaniam Chandran

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This paper explores the features of political economy in the dynamics of representative politics in India. Politics is seen as enhancing economic benefits through acquiring and maintenance of power in the realm of democratic set up. The system of representation is riddled with competitive populism. Emerging leaders and parties are forced to accommodate their ideologies in coping with competitive politics. Electoral politics and voting behaviour reflect series of influences mooted by the politicians. Voters are accustomed to expect benefits outs of state exchequer. The electoral competitors show a changing phase of investment and return policy. Every elector has to spend and realize his costs in his tenure. In the case of defeated electors, even the cost recovery is not possible directly; there are indirect means to recover their costs. The series of case studies show the method of party funding, campaign financing, electoral expenditure, and cost recovery. Regulations could not restrict the level of spending. Several cases of disproportionate accumulation of wealth by the politicians reveal that money played a major part in electoral process. The political economy of representative politics hitherto ignores how a politician spends and recovers his cost and multiples his wealth. To be sure, the acquiring and maintenance of power is to enhance the wealth of the electors.

Keywords: Political economy, representative politics, costrecovery, electoral politics

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Authors: Prasopchoke Mongsawad

Abstract:

The Philosophy of Sufficiency Economy, bestowed by His Majesty the King Bhumibol Adulyadej to the people of Thailand, highlights a balanced way of living. Three principles of moderation reasonableness, and immunity, along with the conditions for morality and knowledge, can be applied to any level of the society–from an individual to the nation. The Philosophy of Sufficiency Economy helps address the current development challenges, which are issues on institutions, environmental sustainability, human well-being, and the role of the government.

Keywords: Sufficiency Economy, Development Theory, Sustainable Development, Environmental Sustainability, Social Capital, Human Well-Being,

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Authors: Mingaleva Zhanna, Kapuskina Tatiana

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The article touches upon questions of information security in Russian Economy. It covers theoretical bases of information security and causes of its development. The theory is proved by the analysis of business activities and the main tendencies of information security development. Perm region has been chosen as the bases for the analysis, being the fastestdeveloping region that uses methods of information security in managing it economy. As a result of the study the authors of the given article have formulated their own vision of the problem of information security in various branches of economy and stated prospects of information security development and its growing role in Russian economy

Keywords: security of business, management of information security, institutional analyses.

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Authors: Mehdi Shami Zanjani, Roshanak Rouzbehani, Hosein Dabbagh

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Although current competitive challenges induced by today-s digital economy place their main emphasis on organizational knowledge, customer knowledge has been overlooked. On the other hand, the business community has finally begun to realize the important role customer knowledge can play in the organizational boundaries of the corporate arena. As a result, there is an emerging market for the tools and utilities whose objective is to provide the intelligence for knowledge sharing between the businesses and their customers. In this paper, we present a conceptual model of customer knowledge management by identifying and analyzing the existing tools in the market. The focus will be upon the emerging British dotcom industry whose customer based B2C behavior has been an influential part of the knowledge based intelligence tools in existence today.

Keywords: Customer knowledge, customer knowledge management, knowledge management, B2C E-commerce.

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Authors: Mami Sugiura, Shinichi Arakawa, Masayuki Murata, Satoshi Imai, Toru Katagiri, Motoyoshi Sekiya

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API (Application Programming Interface) economy, where many participants join/interact and form the economy, is expected to increase collaboration between information services through API, and thereby, it is expected to increase market value from the service collaborations. In this paper, we introduce API evaluators, which are the activator of API economy by reviewing and/or evaluating APIs, and develop a multi-sided API economy model that formulates interactions among platform provider, API developers, consumers, and API evaluators. By obtaining the equilibrium that maximizes utility of all participants, the impact of API evaluators on the utility of participants in the API economy is revealed. Numerical results show that, with the existence of API evaluators, the number of developers and consumers increase by 1.5% and the utility of platformer increases by 2.3%. We also discuss the strategies of platform provider to maximize its utility under the existence of API evaluators.

Keywords: API economy, multi-sided markets, API evaluator, platform, platform provider.

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Authors: Connie Zheng

Abstract:

This paper critiques several exiting strategic international human resource management (SIHRM) frameworks and discusses their limitations to apply directly to emerging multinational enterprises (EMNEs), especially those generated from China and other BRICS nations. To complement the existing SIHRM frameworks, key variables relevant to emerging economies are identified and the extended model with particular reference to EMNEs is developed with several research propositions. It is believed that the extended model would better capture the recent development of MNEs in transition, and alert emerging international managers to address several human resource management challenges in the global context

Keywords: China, human resource, MNEs, strategy

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Authors: Hasan Atak, Figen Çok

Abstract:

Emerging Adulthood, the period during ages 18 to 25, is a new conceptualitation proposed by Arnett which is especially prevalent in the industrialized countries. Turkey is basically a developing country having a young population structure. Investigating the presence of such a life period in such a culture might be helpful in understanding educational and psychological needs of people who are in their twenties. With the aim of investigating Emerging Adulthood in Turkey, a well-known instrument (IDEA, 2003) was adapted to Turkish language and Turkish culture. The scale was administered to 296 participants between 15 and 34 ages and validity and reliability were conducted. Exploratory factor analysis revealed three subscales. Reliability coefficients of the scale (Cronbach a) was found as .69. Test-retest reliability coefficients was found for the scale as .81. Finally, “The IDEA" with 20 items was obtained to be used in the Turkish population. The instrument is ready to be administered among Turkish young people for the investigation of transition to adulthood, and whether such a emerging adulthood period really existed.

Keywords: Adaptation, Emerging Adulthood, Turkey, IDEA.

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Authors: Ali Eryılmaz, Hasan Atak

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Emerging adulthood, the new period which is especially prevalent in the developed or industrialized countries during ages 18 to 29, is a new conceptualization proposed by Arnett. Intimacy is a superordinate concept which includes intimate interaction and intimate relationship. This study includes two proceses which are scale development and conduction of gender differences about markers of starting romantic intimacy among Turkish emerging adults. In first process, Markers of Starting Romantic Intimacy Scale, with 17 items and 5 factors, was developed using by 220 participants. In the second step, the scale was administered to 318 Turkish male and female emerging adults between ages 22 and 25. Results show that there is no significant difference between gender and total score of the scale. With respect to gender, there are significant differences between gender and in four subscales which are self perception, affective and cognitive intimacy, self knowledge and romantic verbalizations. Moreover, there is no significant relationship between gender and behavioral intimacy subscale.

Keywords: Emerging Adulthood, Turkey, Romantic Intimac, Relationship, Marker.

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Authors: Sevgi Birsel Nemlioğlu, Hasan Atak

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Emerging adulthood, between the ages of 18 and 25, as a new developmental stage extending from adolescence to young adulthood. According to Arnett [2004], there are experiments related to identity in three basic fields which are love, work and view of the world in emerging adulthood. When the literature related to identity is examined, it is seen that identity has been studied more with adolescent, and studies were concentrated on the relationship of identity with many demographic variables neglecting important variables such as marital status, parental status and SES. Thus, the main aim of this study is to determine whether identity statuses differenciate with marital status, parental status and SES. A total of 700 emerging adults participated in this study, and the mean age was 22,45 years [SD = 3.76]. The sample was made up of 347 female and 353 male. All participants in the study were students from colleges. Student responses to the Extended Version of the Objective Measure of Ego Identity Status [EOM-EIS-2] used to classify students into one of the four identity statuses. SPSS 15.00 program wasa used to analyse data. Percentage, frequency and X2 analysis were used in the analysis of data. When the findings of the study is viewed as a whole, the most frequently observed identity status in the group is found to be moratorium. Also, identity statuses differenciate with marital status, parental status and SES. Findings were discussed in the context of emerging adulthood.

Keywords: Identity statuses, emerging adulthood, Turkey.

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Authors: A. S. Salimzhanova, J. C. Sardinas, O. A. Yanovskaya

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The objective of this research work is to discuss the concept of “green growth” in the Republic of Kazakhstan introduced by its government in the “National Sustainable Development Strategy” with the objective of transition to a resource-efficient, “green economy.” We believe that emerging economies like Kazakhstan can pursue a cleaner and more efficient development path by introducing an environmental tax system based on resource consumption rather than only income and labor. The key issues discussed in this article are the eco-efficiency, which refers to closing the gap between economic and ecological efficiencies, and the structural change of the economy toward “green growth.” We also strongly believe that studying the experience of East Asian countries on “green reform” including eco-innovation and “green solutions” in business is essential to the case of Kazakhstan. All of these will raise the status of Kazakhstan to the level of one of the thirty developed countries over the next decades.

Keywords: Economic strategy, green growth, green solutions, natural resource management, environmental tax system.

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Authors: Anna Grichting, Sara Al Sada, Angelica Caccam, Urshi Khan

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Qatar, a Gulf country highly dependent on its oil and gas revenues – is looking to innovate, diversify, and ultimately reach its aim of creating a knowledge economy to prepare for its post-oil era. One area that the country is investing in is Contemporary Art, and world renowned artists such as Damien Hirst and Richard Serra – have been commissioned to design site-specific art for the public spaces of the city of Doha as well as in more remote desert locations. This research discusses the changing presence, role and context of public art in Doha, both from a historical and cultural overview, and the different forms and media as well as the typologies of urban and public spaces in which the art is installed. It examines the process of implementing site-specific artworks, looking at questions of scale, history, social meaning and formal aesthetics. The methodologies combine theoretical research on the understanding of public art and its role and placement in public space, as well as empirical research on contemporary public art projects in Doha, based on documentation and interviews and as well as site and context analysis of the urban or architectural spaces within which the art is situated. Surveys and interviews – using social media - in different segments of the contemporary Qatari society, including all nationalities and social groups, are used to measure and qualify the impacts and effects on the population.

Keywords: Contemporary Public Art, Knowledge Economy, Public Realm, Site Specific Art Works.

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Authors: R. Tirado, G. Habert, A. Mailhac, S. Laurenceau

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The rapid development of cities implies significant material inflows and outflows. The construction sector is one of the main consumers of raw materials and producers of waste. The waste from the building sector, for its quantity and potential for recovery, constitutes significant deposits requiring major efforts, by combining different actors, to achieve the circular economy's objectives. It is necessary to understand and know the current construction actors' knowledge of stocks, urban metabolism, deposits, and recovery practices in this context. This article aims to explore the role of local governments in planning strategies by facilitating a circular economy. In particular, the principal opportunities and challenges of communities for applying the principles of the circular economy in the building sector will be identified. The approach used for the study was to conduct semi-structured interviews with those responsible for circular economy projects within local administrations of some communities in France. The results show territories' involvement in the inclusion and application of the principles of the circular economy in the building sector. The main challenges encountered are numerous, hence the importance of having identified and described them so that the different actors can work to meet them.

Keywords: Building stock, circular economy, interview, local authorities.

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Authors: Urvi Shriram

Abstract:

The higher compounded growth rates coupled with favourable demographics in emerging markets portend abundant opportunities for multinational organizations. With many organizations competing for talent in these growing markets, their ability to succeed will depend on their understanding of local workforce needs and aspirations. Using data from the Towers Watson 2010 Global Workforce Study, this paper highlights differences in employee engagement, turnover risks, and attraction and retention drivers between the two markets. Apart from looking at the traditional drivers of employee engagement, the study also explores the value placed by employees on elements like a strong senior leadership, managerial capabilities and career advancement opportunities. Results reveal that emerging markets employees seem to be more engaged and value the non-traditional elements more highly than the developed markets employees.

Keywords: Attraction and retention drivers, emerging markets, employee engagement, turnover risk

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Authors: Kai-Ying A. Chan, Leon A.G. Oerlemans, Marthinus W. Pretorius

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Science parks are often established to drive regional economic growth, especially in countries with emerging economies. However, mixed findings regarding the performances of science park firms are found in the literature. This study tries to explain these mixed findings by taking a relational approach and exploring (un)intended knowledge transfers between new technology-based firms (NTBFs) in the emerging South African economy. Moreover, the innovation outcomes of these NTBFs are examined by using a multi-dimensional construct. Results show that science park location plays a significant role in explaining innovative sales, but is insignificant when a different indicator of innovation outcomes is used. Furthermore, only for innovations that are new to the firms, both science park location and intended knowledge transfer via informal business relationships have a positive impact; whereas social relationships have a negative impact.

Keywords: knowledge flows, innovative performances, science parks, new technology-based firms

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Authors: Sevilay Konya, Sadife Güngör, Zeynep Karaçor

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Turkish economy is occurred depending on different factors from time to time and the banking crises of different magnitudes. Foremost among the factors which hinder the development of countries and societies- crises in the country's economy. Countries' economic growth rates affect inflation, unemployment and external trade. In this study, effect of November 2000, February 2001 and 2008 banking crisis on Turkey's economy and banking crisis will be examined and announced as conceptual. In this context, this study is investigates Turkey's GDP, inflation, unemployment and foreign trade figures. Turkey's economy affected have been identified from 2000 November 2001 February and 2008 banking crisis.

Keywords: Banking crises, Turkey’s economy, economic effects, Turkey.

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Authors: Zeljana Aljinovic Barac, Marina Granic, Tina Vuko

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Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analyzed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.

Keywords: Annual report, Croatian companies, Disclosure index, Voluntary disclosure.

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Authors: Jieun Kim, Haejin Cho, Yongtae Park, Yoonjo Kim, Jeonghwan Jeon

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As creative economy is important theme for national policy, many countries have been raising investments through national R&D programs. Since not all of programs are aligned with the ultimate vision and R&D investment is one of the most decisive elements, the strategic fit of national R&D programs should be evaluated for effective resource allocation. This study aims at identifying the factors of strategic fit of national R&D program on the creative economy policy. For this purpose, the balanced scorecard (BSC) model for R&D is utilized to translate national strategic objectives into a set of coherent performance factors.

Keywords: Balanced scorecard, Creative economy, National R&D program, Strategic fit.

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Authors: Yasuhito Tanaka

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In this paper we will constructively prove the existence of an equilibrium in a competitive economy with sequentially locally non-constant excess demand functions. And we will show that the existence of such an equilibrium in a competitive economy implies Sperner-s lemma. We follow the Bishop style constructive mathematics.

Keywords: Sequentially locally non-constant excess demand functions, Equilibrium in a competitive economy, Constructive mathematics

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