Search results for: Economic wide impact
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4325

Search results for: Economic wide impact

4205 Entrepreneurship Education as a 21st Century Strategy for Economic Growth and Sustainable Development

Authors: M. Fems Kurotimi, Agada Franklin, Godsave Aladei, Opigo Helen

Abstract:

Within the last 30 years, entrepreneurship education (EE) has continued to gain massive interest both in the field of research and among policy makers. This surge in interest can be attributed to the perceived importance EE plays in the equipping of potential entrepreneurs and as a 21st century strategy to foster economic growth and development. This paper sets out to ascertain the correlation between EE and economic growth and development. A desk research approach was adopted where a multiplicity of literatures in the field were studied intensely. The findings reveal that indeed EE has a positive effect on entrepreneurship engagement thereby fostering economic growth and development. However, some research studies reported the contrary. That although EE may be able to equip potential entrepreneurs with requisite entrepreneurial skills and competencies, it will only be successful in producing entrepreneurs if they are internally driven to become entrepreneurs, because we cannot make people what they are not. The findings also reveal that countries that adopted EE early have more innovations inspired by entrepreneurs and are more developed than those that only recently adopted EE as a viable tool for entrepreneurship and economic development.

Keywords: Entrepreneurship, entrepreneurship education, economic development, economic growth, sustainable development.

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4204 The Transformative Impact of Telecommunication in Africa: Connecting Nations, Empowering Lives

Authors: I. M. Mungadi, M. S. Argungu

Abstract:

This study delves into the transformative impact of telecommunication in Africa, illuminating its role in connecting nations and empowering lives across the continent. Over recent decades, the rapid expansion of telecommunication infrastructure has become a powerful force, fostering socio-economic growth and development. Beyond the exchange of information, this digital revolution has influenced education, healthcare, commerce, governance, and social interaction. The abstract explores the multifaceted dimensions of telecommunication's influence on Africa, addressing both its positive transformations and the challenges it presents. By examining the dynamic interplay between technological advancements and societal changes, this research contributes to a nuanced understanding of how telecommunication is shaping a more interconnected, informed, and empowered Africa.

Keywords: Transformative, telecommunication, nations, empowering, connecting.

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4203 Energy Strategy and Economic Growth of Russia

Authors: Young Sik Kim, Tae Kwon Ha

Abstract:

This article considers the problems of economic growth and Russian energy strategy. Also in this paper, the issues related to the economic growth prospects of Russian were discussed. Russian energy strategy without standing Russia`s stature in global energy markets, at the current production and extraction rates, will not be able to sustain its own production as well as fulfil its energy strategy. Indeed, Russia’s energy sector suffers from a chronic lack of investments which are necessary to modernize its energy supply system. In recent years, especially since the international financial crisis, Russia-EU energy cooperation has made substantive progress. Recently the break-through progress has been made, resulting mainly from long-term contributing factors between the countries and recent international economic and political situation changes. Analytical material presented in the article is intended for a more detailed or substantive analysis related to foreign economic relations of the countries and Russia as well.

Keywords: Russia, Energy strategy, Economic growth, Cooperation.

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4202 Effect of Political and Social Context in Libya on Accounting Information System to Meet Development Needs

Authors: Bubaker F. Shareia, Almuetaz R. Boubakr

Abstract:

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

Keywords: Accounting, economic development, globalisation theory, information system.

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4201 Q-Learning with Eligibility Traces to Solve Non-Convex Economic Dispatch Problems

Authors: Mohammed I. Abouheaf, Sofie Haesaert, Wei-Jen Lee, Frank L. Lewis

Abstract:

Economic Dispatch is one of the most important power system management tools. It is used to allocate an amount of power generation to the generating units to meet the load demand. The Economic Dispatch problem is a large scale nonlinear constrained optimization problem. In general, heuristic optimization techniques are used to solve non-convex Economic Dispatch problem. In this paper, ideas from Reinforcement Learning are proposed to solve the non-convex Economic Dispatch problem. Q-Learning is a reinforcement learning techniques where each generating unit learn the optimal schedule of the generated power that minimizes the generation cost function. The eligibility traces are used to speed up the Q-Learning process. Q-Learning with eligibility traces is used to solve Economic Dispatch problems with valve point loading effect, multiple fuel options, and power transmission losses.

Keywords: Economic Dispatch, Non-Convex Cost Functions, Valve Point Loading Effect, Q-Learning, Eligibility Traces.

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4200 Exploring Social Impact of Emerging Technologies from Futuristic Data

Authors: Heeyeul Kwon, Yongtae Park

Abstract:

Despite the highly touted benefits, emerging technologies have unleashed pervasive concerns regarding unintended and unforeseen social impacts. Thus, those wishing to create safe and socially acceptable products need to identify such side effects and mitigate them prior to the market proliferation. Various methodologies in the field of technology assessment (TA), namely Delphi, impact assessment, and scenario planning, have been widely incorporated in such a circumstance. However, literatures face a major limitation in terms of sole reliance on participatory workshop activities. They unfortunately missed out the availability of a massive untapped data source of futuristic information flooding through the Internet. This research thus seeks to gain insights into utilization of futuristic data, future-oriented documents from the Internet, as a supplementary method to generate social impact scenarios whilst capturing perspectives of experts from a wide variety of disciplines. To this end, network analysis is conducted based on the social keywords extracted from the futuristic documents by text mining, which is then used as a guide to produce a comprehensive set of detailed scenarios. Our proposed approach facilitates harmonized depictions of possible hazardous consequences of emerging technologies and thereby makes decision makers more aware of, and responsive to, broad qualitative uncertainties.

Keywords: Emerging technologies, futuristic data, scenario, text mining.

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4199 Proposal for a Model of Economic Integration for the Development of Industry in Cabinda, Angola

Authors: T. H. Bitebe, T. M. Lima, F. Charrua-Santos, C. J. Matias Oliveira

Abstract:

This study aims to present a proposal for an economic integration model for the development of the manufacturing industry in Cabinda, Angola. It seeks to analyze the degree of economic integration of Cabinda and the dynamics of the manufacturing industry. Therefore, in the same way, to gather information to support the decision-making for public financing programs that will aim at the disengagement of the manufacturing industry in Angola and Cabinda in particular. The Cabinda Province is the 18th of Angola, the enclave is located in a privileged area of the African and arable land.

Keywords: Economic integration, industrial development, Cabinda industry, Angola.

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4198 Cross-Cultural Socio-Economic Status Attainment between Muslim and Santal Couple in Rural Bangladesh

Authors: Md. Emaj Uddin

Abstract:

This study compared socio-economic status attainment between the Muslim and Santal couples in rural Bangladesh. For this we hypothesized that socio-economic status attainment (occupation, education and income) of the Muslim couples was higher than the Santal ones in rural Bangladesh. In order to examine the hypothesis 288 couples (145 couples for Muslim and 143 couples for Santal) selected by cluster random sampling from Kalna village, Bangladesh were individually interviewed with semistructured questionnaire method. The results of Pearson Chi-Squire test suggest that there were significant differences in socio-economic status attainment between the two communities- couples. In addition, Pearson correlation coefficients also suggest that there were significant associations between the socio-economic statuses attained by the two communities- couples in rural Bangladesh. Further crosscultural study should conduct on how inter-community relations in rural social structure of Bangladesh influence the differences among the couples- socio-economic status attainment

Keywords: Bangladesh, Couple, Cross-Cultural Comparison, Muslim, Socio-Economic Status Attainment, Santal.

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4197 Sectoral Energy Consumption in South Africa and Its Implication for Economic Growth

Authors: Kehinde Damilola Ilesanmi, Dev Datt Tewari

Abstract:

South Africa is in its post-industrial era moving from the primary and secondary sector to the tertiary sector. The study investigated the impact of the disaggregated energy consumption (coal, oil, and electricity) on the primary, secondary and tertiary sectors of the economy between 1980 and 2012 in South Africa. Using vector error correction model, it was established that South Africa is an energy dependent economy, and that energy (especially electricity and oil) is a limiting factor of growth. This implies that implementation of energy conservation policies may hamper economic growth. Output growth is significantly outpacing energy supply, which has necessitated load shedding. To meet up the excess energy demand, there is a need to increase the generating capacity which will necessitate increased investment in the electricity sector as well as strategic steps to increase oil production. There is also need to explore more renewable energy sources, in order to meet the growing energy demand without compromising growth and environmental sustainability. Policy makers should also pursue energy efficiency policies especially at sectoral level of the economy.

Keywords: Causality, economic growth, energy consumption, hypothesis, sectoral output.

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4196 An Accurate, Wide Dynamic Range Current Mirror Structure

Authors: Hassan Faraji Baghtash

Abstract:

In this paper, a low voltage high performance current mirror is presented. Its most important specifications, which are improved in this work, are analyzed and formulated proving that it has such outstanding merits as: Very low input resistance of 26mΩ, very wide current dynamic range of 8 decades from 10pA to 1mA (160dB) together with an extremely low current copy error of less than 0.6ppm, and very low input and output voltages. Furthermore, the proposed current mirror bandwidth is 944MHz utilizing very low power consumption (267μW) and transistors count. HSPICE simulation results are performed using TSMC 0.18μm CMOS technology utilizing 1.8V single power supply, confirming the theoretically proved outstanding performance of the proposed current mirror. Monte Carlo simulation of its most important parameter is also examined showing its sufficiently resistance against technology process variations.

Keywords: Current mirror/source, high accuracy, low voltage, wide dynamic range.

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4195 The Impact of Innovation Best Practices in Economic Development

Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

Abstract:

Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: Economic development, entrepreneurship, developed countries, innovation program.

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4194 Exterior Calculus: Economic Profit Dynamics

Authors: Troy L. Story

Abstract:

A mathematical model for the Dynamics of Economic Profit is constructed by proposing a characteristic differential oneform for this dynamics (analogous to the action in Hamiltonian dynamics). After processing this form with exterior calculus, a pair of characteristic differential equations is generated and solved for the rate of change of profit P as a function of revenue R (t) and cost C (t). By contracting the characteristic differential one-form with a vortex vector, the Lagrangian is obtained for the Dynamics of Economic Profit.

Keywords: Differential geometry, exterior calculus, Hamiltonian geometry, mathematical economics, economic functions, and dynamics

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4193 Identifying Corruption in Legislation using Risk Analysis Methods

Authors: Chvalkovska, J., Jansky, P., Mejstrik, M.

Abstract:

The objective of this article is to discuss the potential of economic analysis as a tool for identification and evaluation of corruption in legislative acts. We propose that corruption be perceived as a risk variable within the legislative process. Therefore we find it appropriate to employ risk analysis methods, used in various fields of economics, for the evaluation of corruption in legislation. Furthermore we propose the incorporation of these methods into the so called corruption impact assessment (CIA), the general framework for detection of corruption in legislative acts. The applications of the risk analysis methods are demonstrated on examples of implementation of proposed CIA in the Czech Republic.

Keywords: corruption; corruption impact assessment (CIA); legislative; legislative process; risk analysis; Czech Republic

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4192 Smuggling of Migrants as an Influential Factor on National Security, Economic and Social Life

Authors: Jordan Georgiev Deliversky

Abstract:

Human trafficking and smuggling of migrants are criminal activities, which are on the rise over recent years. The number of legal migrants arrived in Europe from outside the European Union are far less than those who want to come and settle in Europe. The objective of this paper is to present the impact on economic and social life of significant measures influencing the smuggling of migrants. The analysis is focused on various complex factors which have multiple origins and are highly influential as regard to the process of migration and the smuggling of migrants. The smuggling of migrants is a criminal activity, directly related to migration. The main results show that often the routes chosen for smuggling of migrants are circuitous, as smugglers carefully avoid strictly controlled roads, checkpoints, and countries or jurisdictions where there is efficiency of justice, with particular emphasis on the law on trafficking of persons and smuggling of migrants.

Keywords: Corruption, migration, security, smuggling.

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4191 The Impact of the Interest Rates on Investments in the Context of Financial Crisis

Authors: Joanna Stawska

Abstract:

The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.

Keywords: Central bank, financial crisis, interest rate, investments.

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4190 Cyclic Behaviour of Wide Beam-Column Joints with Shear Strength Ratios of 1.0 and 1.7

Authors: Roy Y. C. Huang, J. S. Kuang, Hamdolah Behnam

Abstract:

Beam-column connections play an important role in the reinforced concrete moment resisting frame (RCMRF), which is one of the most commonly used structural systems around the world. The premature failure of such connections would severely limit the seismic performance and increase the vulnerability of RCMRF. In the past decades, researchers primarily focused on investigating the structural behaviour and failure mechanisms of conventional beam-column joints, the beam width of which is either smaller than or equal to the column width, while studies in wide beam-column joints were scarce. This paper presents the preliminary experimental results of two full-scale exterior wide beam-column connections, which are mainly designed and detailed according to ACI 318-14 and ACI 352R-02, under reversed cyclic loading. The ratios of the design shear force to the nominal shear strength of these specimens are 1.0 and 1.7, respectively, so as to probe into differences of the joint shear strength between experimental results and predictions by design codes of practice. Flexural failure dominated in the specimen with ratio of 1.0 in which full-width plastic hinges were observed, while both beam hinges and post-peak joint shear failure occurred for the other specimen. No sign of premature joint shear failure was found which is inconsistent with ACI codes’ prediction. Finally, a modification of current codes of practice is provided to accurately predict the joint shear strength in wide beam-column joint.

Keywords: Joint shear strength, reversed cyclic loading, seismic codes, wide beam-column joints.

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4189 The Effect of Ageing on Impact Toughness and Microstructure of 2024 Al-Cu-Mg Alloy

Authors: Swami Naidu Gurugubelli

Abstract:

The present study aims at determining the effect of ageing on the impact toughness and microstructure of 2024 Al-Cu - Mg alloy. Following the 2 h solutionizing treatment at 450°C and water quench, the specimens were aged at 200°C for various periods (1 to 18 h). The precipitation stages during ageing were monitored by hardness measurements. For each specimen group, Charpy impact and hardness tests were carried out. During ageing the impact toughness of the alloy first increased, and then, following a maxima decreased due to the precipitation of intermediate phases, finally it reached its minimum at the peak hardness. Correlations between hardness and impact toughness were investigated.

Keywords: Ageing, alloy, hardness, microstructure.

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4188 Reciprocating Compressor Optimum Design and Manufacturing with Respect to Performance, Reliability and Cost

Authors: A. Almasi

Abstract:

Reciprocating compressors are flexible to handle wide capacity and condition swings, offer a very efficient method of compressing almost any gas mixture in wide range of pressure, can generate high head independent of density, and have numerous applications and wide power ratings. These make them vital component in various units of industrial plants. In this paper optimum reciprocating compressor configuration regarding interstage pressures, low suction pressure, non-lubricated cylinder, speed of machine, capacity control system, compressor valve, lubrication system, piston rod coating, cylinder liner material, barring device, pressure drops, rod load, pin reversal, discharge temperature, cylinder coolant system, performance, flow, coupling, special tools, condition monitoring (including vibration, thermal and rod drop monitoring), commercial points, delivery and acoustic conditions are presented.

Keywords: Design, optimum, reciprocating compressor.

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4187 A Temperature-Insensitive Wide-Dynamic Range Positive/Negative Full-Wave Rectifier Based on Operational Trasconductance Amplifier using Commercially Available ICs

Authors: C. Chanapromma, T. Worachak, P. Silapan

Abstract:

This paper presents positive and negative full-wave rectifier. The proposed structure is based on OTA using commercially available ICs (LT1228). The features of the proposed circuit are that: it can rectify and amplify voltage signal with controllable output magnitude via input bias current: the output voltage is free from temperature variation. The circuit description merely consists of 1 single ended and 3 fully differential OTAs. The performance of the proposed circuit are investigated though PSpice. They show that the proposed circuit can function as positive/negative full-wave rectifier, where the voltage input wide-dynamic range from -5V to 5V. Furthermore, the output voltage is slightly dependent on the temperature variations.

Keywords: Full-wave rectifier, Positive/negative, OTA, Electronically controllable, Wide-dynamic range

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4186 Strategy of Zakat Utilization for Productive Economic and Social Activity: A Case Study at Lembaga Amil Zakat, Infaq and Shodaqoh Yayasan Badan Wakaf Universitas Islam Indonesia

Authors: Krisnanda, Naili Qiyadatul Ulya

Abstract:

Utilization of zakat for productive economic and social activities can be considered an appropriate way to optimize the efficiency and major benefits within these community funds. As we know, not least among the Muslims who desperately need help from zakat funds to improve the livelihoods of their standard of living. In this case, optimizing the utilization of zakat funds can help the community, especially Muslims, to improve and prosper in their lives. Optimizing zakat funds for this purpose can not only motivate people to help others for the welfare and empowerment of the people but can also foster social solidarity between religious communities. The establishment of the nature of social solidarity will reduce the impact of poverty and even eradicate poverty. This study was conducted to determine how the strategy of zakat utilization is through the program of Zakat Galang Berdikari by the Zakat, Infaq, and Shodaqoh Institute of Waqf Board Foundation of Universitas Islam Indonesia (LAZIS YBW UII), what are successful indicators of LAZIS YBW UII in empowering zakat, how to manage zakat at LAZIS YBW UII through the program of Zakat Galang Berdikari to determine the extent of zakat utilization in productive economic activities and to help people less able to start an independent business in Yogyakarta. This study used a qualitative approach and the type of empirical research. This study used primary and secondary data by interviewing stakeholders according to the criteria, carrying out field observations and documentation which were then analyzed carefully and presented in a descriptive form. The result of this research is that the utilization of zakat funds in the Zakat Galang Berdikari program by LAZIS YBW UII is the right strategy to optimize zakat for productive economic and social activities in Yogyakarta.

Keywords: Zakat utilization, zakat funds, productive economic, LAZIS.

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4185 Structural Characteristics of Three-Dimensional Random Packing of Aggregates with Wide Size Distribution

Authors: Kasthurirangan Gopalakrishnan, Naga Shashidhar

Abstract:

The mechanical properties of granular solids are dependent on the flow of stresses from one particle to another through inter-particle contact. Although some experimental methods have been used to study the inter-particle contacts in the past, preliminary work with these techniques indicated that they do not have the necessary resolution to distinguish between those contacts that transmit the load and those that do not, especially for systems with a wide distribution of particle sizes. In this research, computer simulations are used to study the nature and distribution of contacts in a compact with wide particle size distribution, representative of aggregate size distribution used in asphalt pavement construction. The packing fraction, the mean number of contacts and the distribution of contacts were studied for different scenarios. A methodology to distinguish and compute the fraction of load-bearing particles and the fraction of space-filling particles (particles that do not transmit any force) is needed for further investigation.

Keywords: Computer simulation, three-dimensional particlepacking, coordination number, asphalt concrete, aggregates.

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4184 Eurasian Economic Integration: Eurasian Economic Community and Shanghai Cooperation Organization

Authors: Azhar E. Serikkaliyeva, Nurzhamal A. Aldabek

Abstract:

The purpose of this article is to analyze economic and political tendencies of development of integration processes with different developing level and speed on the Eurasian space, by considering two organizations at the region – Eurasian Economic Community and Shanghai Cooperation Organization, by considering the interests of participations in organizations of Russia and China as a global powers and Kazakhstan as a leader among the Central Asian countries. This article investigates what certain goals Eurasian countries (especially Russia, Kazakhstan and China) are waiting from integration within the SCO and the EurAsEC, linking the process with the theories of regional integration. After European debt crisis it is more topically to research the integration within the specific region's conditions.

Keywords: Eurasian Economic Community, China, Kazakhstan, Shanghai Cooperation Organization, Regional integration, Russia.

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4183 A Contribution to the Application of the Structural Analysis Method in Entrepreneurial Practice

Authors: Kamila Janovská, Šárka Vilamová, Petr Besta, Iveta Vozňáková, Roman Kozel

Abstract:

Quantitative methods of economic decision-making as the methodological base of the so called operational research represent an important set of tools for managing complex economic systems,both at the microeconomic level and on the macroeconomic scale. Mathematical models of controlled and controlling processes allow, by means of artificial experiments, obtaining information foroptimalor optimum approaching managerial decision-making.The quantitative methods of economic decision-making usually include a methodology known as structural analysis -an analysisof interdisciplinary production-consumption relations.

Keywords: economic decision-making, mathematical methods, structuralanalysis, technical coefficient

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4182 The Investigation of the Role of Institutions in the Process of Growth and Development of Economy

Authors: Seyed Mohammad Reza Hosseini

Abstract:

The new institutional Economics helps generalization and expansion of new classic by adding the institution theories to Economic. It is clear that the appropriate institution is among the factors that lead to success in Economic programs. If the institutional are appropriate, the society will save the source and when we make use of time to apply the program, there will be welfare and average revenue product will also increase. In Economy, one should not expect the real manifestation of Economic programs only with a model for estimating and predicting rather institutions of the same purpose and along with production are needed to form the process of growth and development costs. In this research, the institution role in transaction costs, financial markets, distribution of revenue and capital and its influence on the process of growth and development are investigated so that handicaps and problems of Iran Economic Institutions can be recognized. In other words, incapability, non productivity and ambiguity of the institution in Iran Economic are some of the factors that handicap Economic growth and development. For example, Iran government as an important institution while having 20 ministries,83 organizations and 60 years of programming could not go along the growth and development but why?

Keywords: Institution, New institutional economics, Transaction costs.

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4181 The State Support to the Tourism Policy Formation Mechanism in Black Sea Basin Countries (Azerbaijan, Turkey, Russia, Georgia) and Its Impact on Sustainable Tourism Development

Authors: A. Bahar Ganiyeva, M. Sabuhi Tanriverdiyev

Abstract:

The article analyzes state support and policy mechanisms aimed at driving tourism as one of the vibrant and rapidly developing economies. State programs and long-range strategic roadmaps and previous programs execution, results and their impact on the particular countries economy have been raised during the research. This theme provides a useful framework for discussions with a wider range of stakeholders as the implications arising are of importance both for academics and practitioners engaged in hospitality and tourism development and research. The impact that tourism has on sustainable regional development in emerging markets is highly substantial. For Azerbaijan, Turkey, Georgia, and Russia, with their rich natural resources and cultural heritage, tourism can be an important basis for economic expansion, and a way to form an acceptable image of the countries as safe, open, hospitable, and complex.

Keywords: Sustainable tourism, hospitality, destination, strategic roadmap, tourism, economy, growth, state support, mechanism, policy formation, state program.

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4180 Endogenous Growth of Small Open Economies in New Europe under Global Imbalance

Authors: Tatyana Boikova

Abstract:

The strong international competition as the factor of rising economic development efficiency should not turn into destructive force for models of social orientation. What result Europe received from the accelerated integration without a long transition period of the accepted countries. Correlative relationship between the research and development expenditure and labor productivity, inflation and the rate economy's growth of the USA and the euro zone, employment and gross value added between Old and New Europe is analyzed in this article. The article estimates the differences in economic growth of Old and New Europe. Correlation rate between cycles of the euro area and the countries of Central and the Eastern Europe very much differs, though some of these countries have high correlation as members of the Economic and Monetary Union. Besides, the majority of the countries of Central and the Eastern Europe does not correspond to criteria of an optimum currency area.

Keywords: endogenous economic growth, sustainability, competitiveness, economic development

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4179 Entrepreneurship Cure for Economic Under-Development in Nigeria: A Theoretical Perspective

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: Entrepreneurship, entrepreneurial, economic underdevelopment, unemployable, oil boom, infrastructural under-development, SMEs.

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4178 Sub-Impact Phenomenon of Elasto-Plastic Free-Free Beam during a Strike

Authors: H. Rong, X. C. Yin, J. Yang, Y. N. Shen

Abstract:

Based on Rayleigh beam theory, the sub-impacts of a free-free beam struck horizontally by a round-nosed rigid mass is simulated by the finite difference method and the impact-separation conditions. In order to obtain the sub-impact force, a uniaxial compression elastic-plastic contact model is employed to analyze the local deformation field on contact zone. It is found that the horizontal impact is a complicated process including the elastic plastic sub-impacts in sequence. There are two sub-zones of sub-impact. In addition, it found that the elastic energy of the free-free beam is more suitable for the Poisson collision hypothesis to explain compression and recovery processes.

Keywords: beam, sub-impact, elastic-plastic deformation, finite difference method.

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4177 The Induced Generalized Hybrid Averaging Operator and its Application in Financial Decision Making

Authors: José M. Merigó, Montserrat Casanovas

Abstract:

We present the induced generalized hybrid averaging (IGHA) operator. It is a new aggregation operator that generalizes the hybrid averaging (HA) by using generalized means and order inducing variables. With this formulation, we get a wide range of mean operators such as the induced HA (IHA), the induced hybrid quadratic averaging (IHQA), the HA, etc. The ordered weighted averaging (OWA) operator and the weighted average (WA) are included as special cases of the HA operator. Therefore, with this generalization we can obtain a wide range of aggregation operators such as the induced generalized OWA (IGOWA), the generalized OWA (GOWA), etc. We further generalize the IGHA operator by using quasi-arithmetic means. Then, we get the Quasi-IHA operator. Finally, we also develop an illustrative example of the new approach in a financial decision making problem. The main advantage of the IGHA is that it gives a more complete view of the decision problem to the decision maker because it considers a wide range of situations depending on the operator used.

Keywords: Decision making, Aggregation operators, OWA operator, Generalized means, Selection of investments.

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4176 Tourism and Urban Planning for Intermediate Cities: An Empirical Approach toward Cultural Heritage Conservation in Damavand, Iran

Authors: E. Ghabouli

Abstract:

Intermediate cities which also called medium size cities have an important role in the process of globalization. It is argued that, in some cases this type of cities may be depopulated or in otherwise may be transformed as the periphery of metropolitans, so that the personal identity of the city and its local cultural heritage could suffer from its neighbor metropolitan. Over the last decades, the role of tourism in the development process and the cultural heritage has increased. The impact of tourism on socioeconomic growth makes motivation for the study of tourism development in regional and urban planning process. There are evidences that tourism has a positive impact in local development and makes economic motivations for cultural heritage protection. In this study, by considering the role of tourism in local development, especially by its economic and socio-cultural impacts, it is tried to introduce a strategy for tourism development through a method of urban planning for intermediate cities called as Base plan. Damavand is an intermediate city located in Tehran province, Iran with a high potential in tourism by its local specific characteristic like social structure, antiquities and natural attractions. It’s selected as a suitable case study for intended strategy which is a combination of urban planning and tourism development methods. Focusing on recognition of the historical and cultural heritage of Damavand, in this paper through “base plan methodology” a strategy of urban planning toward tourism development is prepared in order to make tourism development as a support for cultural heritage of this city.

Keywords: Urban planning, tourism, cultural heritage, intermediate cities.

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