Search results for: Economics Crisis

Authors: Xiaowen Zhang, Wanda Luen-Wun Siu

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The paper reviews the insights gained in combating COVID-19 in the US, Japan, and China. After evaluation and investigation, we found that China’s and Japan’s experience of fighting COVID-19 is commendable. The Chinese government and the Japanese administration have implemented highly effective governance and public health course of action to fight COVID-19. Government-led epidemic control with a staunch belief in science can roll out effective pandemic control strategies. In contrast, the US failed to react to COVID-19 effectively. The relaxed public health measures of ending shutdowns prematurely were not working. When the US keeps business open after the spring shutdown, COVID-19 cases are soaring. Such experiences inform us effective governance and a mandatory and stricter approach can better curb a pandemic than milder measures in handling a public health emergency. And China and Japan, where collectivistic culture reins, can better maneuver a public health crisis with collective efforts.

Keywords: COVID-19, China, Japan, US.

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Authors: Aleksandra Nocoń (Szunke)

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The study is a review of the literature concerning the consequences of non-standard monetary policy, which are used by central banks during unconventional periods, threatening banking sector instability. In particular, the attention was paid to the effects of non-standard monetary policy tools for financial markets. However, the empirical evidence about their effects and real consequences for financial markets is still not final. The main aim of the study is to survey consequences of standard and non-standard monetary policy instruments, implemented during the global financial crisis in the United States, United Kingdom and euro area, with particular attention to the results for the stabilization of global financial markets. The study consists mainly of the empirical review, indicating the impact of the implementation of these tools for financial markets. The following research methods were used in the study: literature studies, including domestic and foreign literature, cause and effect analysis and statistical analysis.

Keywords: Asset purchase facility, consequences of monetary policy instruments, non-standard monetary policy, Quantitative Easing.

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Authors: Cristiano R. Cervi, Renata Galante, José Palazzo M. de Oliveira

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In this paper, we address the problem of identifying academic reputation of researchers using scientific metrics in different research areas. Due to the characteristics of each area, researchers can present different behaviors. In previous work, we define Rep-Index that makes use of a profile template to individually identify the reputation of researchers. The Rep-Index is comprehensive and adaptive because involves hole trajectory of the researcher built throughout his career and can be used in different areas and in different contexts. Now, we compare our metric (Rep-Index) with the h-index and the g-index through experiments with researchers in the fields of Economics, Dentistry and Computer Science. We analyze the trajectory of 830 Brazilian researchers from the National Council of Technological and Scientific Development (CNPq), which receive grants research productivity. The grants are aimed at productivity researchers that stand out among their peers, enhancing their scientific normative criteria established by CNPq. Of the 830 researchers, 210 are in the area of Economics, 216 of Dentistry e 404 of Computer Science. The experiments show that our metric is strongly correlated with h-index, g-index and CNPq ranking. We also show good results for our hypothesis that our metric can be used to evaluate research in several areas. We apply our metric (Rep-Index) to compare the behavior of researchers in relation to their h-index and g-index through extensive experiments. The experiments showed that our metric is strongly correlated with h-index, g-index and CNPq ranking.

Keywords: Researcher reputation, profile model, scientific metrics.

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Authors: Shunyi Li, Zhifang He, Xiangui Xue

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An Ivlev-type predator-prey system and stage-structured for predator concerning impulsive control strategy is considered. The conditions for the locally asymptotically stable prey-eradication periodic solution is obtained, by using Floquet theorem and small amplitude perturbation skills——when the impulsive period is less than the critical value. Otherwise, the system is permanence. Numerical examples show that the system considered has more complicated dynamics, including high-order quasi-periodic and periodic oscillating, period-doubling and period-halving bifurcation, chaos and attractor crisis, etc. Finally, the biological implications of the results and the impulsive control strategy are discussed.

Keywords: Stage-structured predator-prey system, Impulsive, Permanence, Bifurcation, Chaos.

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Authors: Frantisek Bozek, Alexandr Bozek, Alena Bumbova, Jiri Dvorak, Lenka Jesonkova

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The contamination of 15 ground water resources of a selected region earmarked for the emergency supply of population has been monitored. The resources have been selected on the basis of previous assessment of natural conditions and the exploitation of territory in their surroundings and infiltration area. Two resources out of 15 have been excluded from further exploitation, because they have not met some of the 72 assessed hygienic indicators of extended analysis. The remaining 13 resources have been the subject of health risk analysis in relation to the contamination by arsenic, lead, cadmium, mercury, nickel and manganese. The risk analysis proved that all 13 resources meet health standards with regard to the above mentioned purposefully selected elements and may thus be included into crisis plans. Water quality of ground resources may be assessed in the same way with regard to other contaminants.

Keywords: Contamination, drinking water, emergency supply, health risk, hygienic limits, metals, risk assessment.

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Authors: Md. Alamgir Hossain, Md. Raju Ahmed

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Scarcity in energy sector is a major problem, which can hamper the growing development of a country. Bangladesh is one of the electricity-deprived countries; however, the energy demand of Bangladesh is increasing day by day. Due to the shortage of natural resources and environmental issues, many nations are now moving towards renewable energy. Among various form of renewable energy, wind energy is one of most potential source. In this paper, the present energy condition of Bangladesh is discussed and the necessity of moving towards renewable energy is clarified. The wind speed found at different locations at different heights and different years from the survey of several organizations are presented. Although, the results of installed low capacity wind turbines (from few kW to few tens of kW) operated by private or government organization at different places in Bangladesh are not so encouraging; however, it is shown that Bangladesh has a high potential of using large wind turbine (MW range) for capturing wind energy at different places. The present condition of wind energy in Bangladesh and other countries in the world are also presented to emphasize the requisite of moving towards wind energy.

Keywords: Renewable energy, wind speed, wind power, modern wind turbine, scarcity of power and gas crisis.

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Authors: Muhammad Mazhar Manzoor, Muhammad Aqeel, Abdul Sattar

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Islamic banking is one the most blossoming doctrine in economic system of the world. The Fast growing awareness about Islamic financial system has brought strong feeling to Muslims to confront the western interest-based economic cycle. The Islamic economic system is emerging as a reliable alternative to the interest based system. This study is proposed to ascertain the motivational factors encouraging people to go for Islamic banking in Pakistan. These pulsing factors are determined by generation of hypothesis that there are certain factors which are urging people to opt Islamic banking system and to see the differences in their ranking by applying Friedman test. These factors include: Economically derived factors such as stability of Islamic banks in crisis, profit and loss sharing doctrine and equity sharing etc. This study also highlights the religiously derived factors such as interest free banking, Shariah tenets and supervisory of Islamic Shariah board and sociopsychological factors.

Keywords: Islamic banking, motivational factors, religiousfactors, socio-psychological factors and economic factors

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Authors: Emine Demiray, Şensu Curabay

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Distance education program is a dimension of contemporary and new education technologies. Concepts and applications in this field are the results of a series of educational demands and developments in various communication and education technologies. Distance education applications have some conceptual bases. These are creating new education opportunities, realizing work-education unity, getting democratic in education, lifelong education, tendency to individual matters, effective use of institutions, integration of technology and education, tendency to individual and social needs, taking three dimensional integration as the main principle (publishing, printed materials and face to face education), reaching maximum mass, individual and mass education integrity and education demand and financial matters balance. Economics, Business Administration and Open Education faculties, which have been giving education within Anadolu University since 1982 in Turkey, are carrying on education with nearly 1.000.000 students. The aim of this study is to determine organizational commitment levels of students who have been studying at Anadolu University Economics, Business Administration and Open Education faculties in the scope of affective, continuance and nominative commitment in Allen&Meyer model. In the study, organizational commitment of the Economics, Business Administration and Open Education faculty students, who are receiving education by means of distance education, to their faculties is dealt after introducing Anadolu University Distance Education system which gives higher education via distance education method in Turkey. In order to increase the success level of faculties it is required for students to have high level of organizational commitment to their faculties. A questionnaire has been applied by using “Organizational Commitment Scale", developed by Meyer&Allen to determine organizational commitments of Economics, Business Administration and Open Education students. Organizational commitment is dealt with as affective, continuance and nominative commitment. The questionnaire was applied face to face to randomly chosen 500 students living in Eskişehir and the data was downloaded to the computer by using SPSS program and the results were analyzed in terms of demographic features (gender, age, marital status, years of study, work and income level) of students by using frequency test, ttest and ANOVA test. As a result of these analyses, when the comments of Open Education Faculty students on levels of affective, continuance and nominative commitment to their faculties were examined, it has been revealed that continuance commitment level has the highest rate. Among the female participants; continuance commitment is high in the age range of 30-40, for normative commitment it is 17-22. However no dominant age range was defined for affective commitment. Regarding the marital status; continuance commitment average is higher among married participants; but nominative affective commitment average is higher among single participants. As to the years of study, affective and continuance commitment is higher among senior students while normative commitment is higher among junior students. Moreover; in terms of continuance, affective and normative commitment, those who do not work and have low income have higher level of all there commitment types than those who work and have relatively high income.

Keywords: Open education, Organizational commitment, Distance education.

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Authors: Mushavhanamadi K., Mbohwa C.

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This paper presents the findings of the investigation of ERP implementation, challenges experiences by a South African Company in ERP implementation, success factors, failures, and propose recommendations to improve ERP implementation. The data collections methods used are questionnaires. The paper contributes to discussion on ERP implementation in developing economics.

Keywords: CSF, ERP, MRP, MRP II.

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Authors: S. Noor, M. W. Siddiqi

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This study examines causal link between energy use and economic growth for five South Asian countries over period 1971-2006. Panel cointegration, ECM and FMOLS are applied for short and long run estimates. In short run unidirectional causality from per capita GDP to per capita energy consumption is found, but not vice versa. In long run one percent increase in per capita energy consumption tend to decrease 0.13 percent per capita GDP. i.e. Energy use discourage economic growth. This short and long run relationship indicate energy shortage crisis in South Asia due to increased energy use coupled with insufficient energy supply. Beside this long run estimated coefficient of error term suggest that short term adjustment to equilibrium are driven by adjustment back to long run equilibrium. Moreover, per capita energy consumption is responsive to adjustment back to equilibrium and it takes 59 years approximately. It specifies long run feedback between both variables.

Keywords: Energy consumption, Income, Panel co-integration, Causality.

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Authors: Dany Ng Cheong Vee, Preethee Nunkoo Gonpot, Noor-Ul-Hacq Sookia

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In this paper, we consider the application of Extreme Value Theory as a risk measurement tool. The Value at Risk, for a set of indices, from six Stock Exchanges of Frontier markets is calculated using the Peaks over Threshold method and the performance of the model index-wise is evaluated using coverage tests and loss functions. Our results show that “fattailedness” alone of the data is not enough to justify the use of EVT as a VaR approach. The structure of the returns dynamics is also a determining factor. This approach works fine in markets which have had extremes occurring in the past thus making the model capable of coping with extremes coming up (Colombo, Tunisia and Zagreb Stock Exchanges). On the other hand, we find that indices with lower past than present volatility fail to adequately deal with future extremes (Mauritius and Kazakhstan). We also conclude that using EVT alone produces quite static VaR figures not reflecting the actual dynamics of the data.

Keywords: Extreme Value theory, Financial Crisis 2008, Frontier Markets, Value at Risk.

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Authors: Iveta Řepková

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The aim of this paper is to estimate the efficiency of the Slovak commercial banks employing the Data Envelopment Analysis (DEA) window analysis approach during the period 2003-2012. The research is based on unbalanced panel data of the Slovak commercial banks. Undesirable output was included into analysis of banking efficiency. It was found that most efficient banks were Postovabanka, UniCredit Bank and Istrobanka in CCR model and the most efficient banks were Slovenskasporitelna, Istrobanka and UniCredit Bank in BCC model. On contrary, the lowest efficient banks were found Privatbanka and CitiBank. We found that the largest banks in the Slovak banking market were lower efficient than medium-size and small banks. Results of the paper is that during the period 2003-2008 the average efficiency was increasing and then during the period 2010-2011 the average efficiency decreased as a result of financial crisis.

Keywords: Data Envelopment Analysis, efficiency, Slovak banking sector, window analysis.

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Authors: S. Baghdar Hosseini, K. Bashirnezhad, A. R. Moghiman, Y. Khazraii, N. Nikoofal

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The increasing industrialization and motorization of the world has led to a steep rise for the demand of petroleum-based fuels. Petroleum-based fuels are obtained from limited reserves. These finite reserves are highly concentrated in certain regions of the world. Therefore, those countries not having these resources are facing energy/foreign exchange crisis, mainly due to the import of crude petroleum. Hence, it is necessary to look for alternative fuels which can be produced from resources available locally within the country such as alcohol, biodiesel, vegetable oils etc. Biodiesel is a renewable, domestically produced fuel that has been shown to reduce particulate, hydrocarbon, and carbon monoxide emissions from combustion. In the present study an experimental investigation on emission characteristic of a liquid burner system operating on several percentage of biodiesel and gas oil is carried out. Samples of exhaust gas are analysed with Testo 350 Xl. The results show that biodiesel can lower some pollutant such as CO, CO2 and particulate matter emissions while NOx emission would increase in comparison with gas oil. The results indicate there may be benefits to using biodiesel in industrial processes.

Keywords: Biodiesel, combustion, gas oil, pollutant.

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Authors: Christos A. Ioannou, Panagiotis Panagiotopoulos, Lampros Stergioulas

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The new status generated by technological advancements and changes in the global economy raises important issues on how communities and organisations need to innovate upon their traditional processes in order to adapt to the challenges of the Knowledge Society. The DialogoS+ European project aims to study the role of and promote social dialogue in the banking sector, strengthen the link between old and new members and make social dialogue at the European level a force for innovation and change, also given the context of the international crisis emerging in 2008- 2009. Under the scope of DialogoS+, this paper describes how the community of Europe-s banking sector trade unions attempted to adapt to the challenges of the Knowledge Society by exploiting the benefits of new channels of communication, learning, knowledge generation and diffusion focusing on the concept of roadmapping. Important dimensions of social dialogue such as collective bargaining and working conditions are addressed.

Keywords: Banking sector, knowledge society, road mapping, social dialogue.

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Authors: Amro Issam Hamed Attia Ramadan, Marco Zappatore, Pasquale Balena, Antonella Longo

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Considering the energy crisis that is hitting Europe, it becomes increasingly necessary to change energy policies to depend less on fossil fuels and replace them with energy from renewable sources. This has triggered the urge to use clean energy, not only to satisfy energy needs and fulfill the required consumption, but also to decrease the danger of climatic changes due to harmful emissions. Many countries have already started creating energy communities based on renewable energy sources. The first step to understanding energy needs in any place is to perfectly know the consumption. In this work, we aim to estimate electricity consumption for a municipality that makes up part of a rural area located in southern Italy using forecast models that allow for the estimation of electricity consumption for the next 10 years, and we then apply the same model to the province where the municipality is located and estimate the future consumption for the same period to examine whether it is possible to start from the municipality level to reach the province level when creating energy communities.

Keywords: ARIMA, electricity consumption, forecasting models, time series.

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Authors: Mohd K. Yunus, Murni M. Ahmad, Abrar Inayat, Suzana Yusup

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Due to the environmental and price issues of current energy crisis, scientists and technologists around the globe are intensively searching for new environmentally less-impact form of clean energy that will reduce the high dependency on fossil fuel. Particularly hydrogen can be produced from biomass via thermochemical processes including pyrolysis and gasification due to the economic advantage and can be further enhanced through in-situ carbon dioxide removal using calcium oxide. This work focuses on the synthesis and development of the flowsheet for the enhanced biomass gasification process in PETRONAS-s iCON process simulation software. This hydrogen prediction model is conducted at operating temperature between 600 to 1000oC at atmospheric pressure. Effects of temperature, steam-to-biomass ratio and adsorbent-to-biomass ratio were studied and 0.85 mol fraction of hydrogen is predicted in the product gas. Comparisons of the results are also made with experimental data from literature. The preliminary economic potential of developed system is RM 12.57 x 106 which equivalent to USD 3.77 x 106 annually shows economic viability of this process.

Keywords: Biomass, Gasification, Hydrogen, iCON.

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Authors: Vakhtang Geladze, Nana Bolashvili, Tamazi Karalashvili, Nino Machavariani, Ana Karalashvili, George Geladze, Nana Kvirkvelia

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Fresh water deficit is one of the most important global problems today. It must be taken into consideration that in the nearest future fresh water crisis will become even more acute owing to the global climate warming and fast desertification processes in the world. Georgia is rich in water resources, but there are disbalance between the eastern and western parts of the country. The goal of the study is to integrate the recent mechanisms compatible with European standards into Georgian water resources management system on the basis of GIS. Moreover, to draw up water economy balance for the purpose of proper determination of water consumption priorities that will be an exchange ratio of water resources and water consumption of the concrete territory. For study region was choose south-eastern part of country, Kvemo kartli Region. This is typical agrarian region, tends to the desertification. The water supply of the region was assessed on the basis of water economy balance, which was first time calculated for this region.

Keywords: GIS, water economy balance, water resources.

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Authors: M. Khakbazan, S. L. Scott, H. C. Block, C. D. Robins, W. P. McCaughey

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A ten-year grazing study was conducted at the Agriculture and Agri-Food Canada Brandon Research Centre in Manitoba to study the effect of alfalfa inclusion and fertilizer (N, P, K, and S) addition on economics and efficiency of non-renewable energy use in meadow brome grass-based pasture systems for beef production. Fertilizing grass-only or alfalfa-grass pastures to full soil test recommendations improved pasture productivity, but did not improve profitability compared to unfertilized pastures. Fertilizing grass-only pastures resulted in the highest net loss of any pasture management strategy in this study. Adding alfalfa at the time of seeding, with no added fertilizer, was economically the best pasture improvement strategy in this study. Because of moisture limitations, adding commercial fertilizer to full soil test recommendations is probably not economically justifiable in most years, especially with the rising cost of fertilizer. Improving grass-only pastures by adding fertilizer and/or alfalfa required additional non-renewable energy inputs; however, the additional energy required for unfertilized alfalfa-grass pastures was minimal compared to the fertilized pastures. Of the four pasture management strategies, adding alfalfa to grass pastures without adding fertilizer had the highest efficiency of energy use. Based on energy use and economic performance, the unfertilized alfalfa-grass pasture was the most efficient and sustainable pasture system.

Keywords: Alfalfa, grass, fertilizer, pasture systems, economics, energy.

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Authors: Darwina Arshad, Paul Hughes

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Recent environmental turbulence including financial crisis, intensified competitive forces, rapid technological change and high market turbulence have dramatically changed the current business climate. The managers firms have to plan and decide what the best approaches that best fit their firms in order to pursue superior performance. This research aims to examine the influence of strategic reasoning and top level managers- individual characteristics on the effectiveness of organizational improvisation and firm performance. Given the lack of studies on these relationships in the previous literature, there is significant contribution to the body of knowledge as well as for managerial practices. 128 responses from top management of technology-based companies in Malaysia were used as a sample. Three hypotheses were examined and the findings confirm that (a) there is no relationship between intuitive reasoning and organizational improvisation but there is a link between rational reasoning and organizational improvisation, (b) top level managers- individual characteristics as a whole affect organizational improvisation; and (c) organizational improvisation positively affects firm performance. The theoretical and managerial implications were discussed in the conclusions.

Keywords: Organizational improvisation, strategic reasoning, firm performance.

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Authors: Petr Teply

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The New Basel Capital Accord (Basel II) influences how financial institutions around the world, and especially European Union institutions, determine the amount of capital to reserve. However, as the recent global crisis has shown, the revision of Basel II is needed to reflect current trends, such as increased volatility and correlation, in the world financial markets. The overall objective of Basel II is to increase the safety and soundness of the international financial system. Basel II builds on three main pillars: Pillar I deals with the minimum capital requirements for credit, market and operational risk, Pillar II focuses on the supervisory review process and finally Pillar III promotes market discipline through enhanced disclosure requirements for banks. The aim of this paper is to provide the historical background, key features and impact of Basel II on financial markets. Moreover, we discuss new proposals for international bank regulation (sometimes referred to as Basel III) which include requirements for higher quality, constituency and transparency of banks' capital and risk management, regulation of OTC markets and introduction of new liquidity standards for internationally active banks.

Keywords: Basel II, Basel III, risk management, bank regulation

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Authors: Arniyati Ahmad, Christopher Johnson, Timothy Storer

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Cyber exercises used to assess the preparedness of a community against cyber crises, technology failures and Critical Information Infrastructure (CII) incidents. The cyber exercises also called cyber crisis exercise or cyber drill, involved partnerships or collaboration of public and private agencies from several sectors. This study investigates Organisation Cyber Resilience (OCR) of participation sectors in cyber exercise called X Maya in Malaysia. This study used a principal based cyber resilience survey called CSuite Executive checklist developed by World Economic Forum in 2012. To ensure suitability of the survey to investigate the OCR, the reliability test was conducted on C-Suite Executive checklist items. The research further investigates the differences of OCR in ten Critical National Infrastructure Information (CNII) sectors participated in the cyber exercise. The One Way ANOVA test result showed a statistically significant difference of OCR among ten CNII sectors participated in the cyber exercise.

Keywords: Critical Information Infrastructure, Cyber Resilience, Organisation Cyber Resilience, Reliability Test.

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Authors: Z. Nurzaireena, K. Azalea, T. Azirawaty, S. Jameela, G. Muralitharan

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The aim of this study is the review of the management practices of sickle cell disease patients during pregnancy, as well as the maternal and neonatal outcome at Ampang Hospital, Selangor. The study consisted of a review of pregnant patients with sickle cell disease under follow up at the Hematology Clinic, Ampang Hospital over the last seven years to assess their management and maternal-fetal outcome. The results of the review show that Ampang Hospital is considered the public hematology centre for sickle cell disease and had successfully managed three pregnancies throughout the last seven years. Patients’ presentations, managements and maternal-fetal outcome were compared and reviewed for academic improvements. All three patients were seen very early in their pregnancy and had been given a regime of folic acid, antibiotics and thrombo-prophylactic drugs. Close monitoring of maternal and fetal well being was done by the hematologists and obstetricians. Among the patients, there were multiple admissions during the pregnancy for either a painful sickle cell bone crisis, haemolysis following an infection and anemia requiring phenotype- matched blood and exchange transfusions. Broad spectrum antibiotics coverage during and infection, hydration, pain management and venous-thrombolism prophylaxis were mandatory. The pregnancies managed to reach near term in the third trimester but all required emergency caesarean section for obstetric indications. All pregnancies resulted in live births with good fetal outcome. During post partum all were nursed closely in the high dependency units for further complications and were discharged well. Post partum follow up and contraception counseling was comprehensively given for future pregnancies. Sickle cell disease is uncommonly seen in the East, especially in the South East Asian region, yet more cases are seen in the current decade due to improved medical expertise and advance medical laboratory technologies. Pregnancy itself is a risk factor for sickle cell patients as increased thrombosis event and risk of infections can lead to multiple crisis, haemolysis, anemia and vaso-occlusive complications including eclampsia, cerebrovasular accidents and acute bone pain. Patients mostly require multiple blood product transfusions thus phenotype-matched blood is required to reduce the risk of alloimmunozation. Emphasizing the risks and complications in preconception counseling and establishing an ultimate pregnancy plan would probably reduce the risk of morbidity and mortality to the mother and unborn child. Early management for risk of infection, thromboembolic events and adequate hydration is mandatory. A holistic approach involving multidisciplinary team care between the hematologist, obstetricians, anesthetist, neonatologist and close nursing care for both mother and baby would ensure the best outcome. In conclusion, sickle cell disease by itself is a high risk medical condition and pregnancy would further amplify the risk. Thus, close monitoring with combine multidisciplinary care, counseling and educating the patients are crucial in achieving the safe outcome.

Keywords: Anemia, haemoglobinopathies, pregnancy, sickle cell disease.

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Authors: Abubakar Dikko

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The research investigates the causes of unemployment in Namibia, Nigeria and South Africa and the role of Capital Accumulation in reducing the unemployment profile of these economies as proposed by the post-Keynesian economics. This is conducted through extensive review of literature on the NAIRU models and focused on the post-Keynesian view of unemployment within the NAIRU framework. The NAIRU (non-accelerating inflation rate of unemployment) model has become a dominant framework used in macroeconomic analysis of unemployment. The study views the post-Keynesian economics arguments that capital accumulation is a major determinant of unemployment. Unemployment remains the fundamental socio-economic challenge facing African economies. It has been a burden to citizens of those economies. Namibia, Nigeria, and South Africa are great African nations battling with high unemployment rates. The high unemployment rate in the country led the citizens to chase away foreigners in the country claiming that they have taken away their jobs. The study proposes there is a strong relationship between capital accumulation and unemployment in Namibia, Nigeria, and South Africa, and capital accumulation is responsible for high unemployment rates in these countries. For the economies to achieve steady state level of employment and satisfactory level of economic growth and development, there is need for capital accumulation to take place. The countries in the study have been selected after a critical research and investigations. They are selected based on the following criteria; African economies with high unemployment rates above 15% and have about 40% of their workforce unemployed. This level of unemployment is the critical level of unemployment in Africa as expressed by International Labour Organization (ILO). And finally, the African countries experience a slow growth in their Gross fixed capital formation. Adequate statistical measures have been employed using a time-series analysis in the study and the results revealed that capital accumulation is the main driver of unemployment performance in the chosen African countries. An increase in the accumulation of capital causes unemployment to reduce significantly. The results of the research work will be useful and relevant to federal governments and ministries, departments and agencies (MDAs) of Namibia, Nigeria and South Africa to resolve the issue of high and persistent unemployment rates in their economies which are great burden that slows growth and development of developing economies. Also, the result can be useful to World Bank, African Development Bank and International Labour Organization (ILO) in their further research and studies on how to tackle unemployment in developing and emerging economies.

Keywords: Capital accumulation, NAIRU, post-Keynesian economics, unemployment.

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Authors: Inas S. Khayal, Weiping Zhou, Jonathan Skinner

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Healthcare delivery systems around the world are in crisis. The need to improve health outcomes while decreasing healthcare costs have led to an imminent call to action to transform the healthcare delivery system. While Bioinformatics and Biomedical Engineering have primarily focused on biological level data and biomedical technology, there is clear evidence of the importance of the delivery of care on patient outcomes. Classic singular decomposition approaches from reductionist science are not capable of explaining complex systems. Approaches and methods from systems science and systems engineering are utilized to structure healthcare delivery system data. Specifically, systems architecture is used to develop a multi-scale and multi-dimensional characterization of the healthcare delivery system, defined here as the Healthcare Delivery System Knowledge Base. This paper is the first to contribute a new method of structuring and visualizing a multi-dimensional and multi-scale healthcare delivery system using systems architecture in order to better understand healthcare delivery.

Keywords: Health informatics, systems thinking, systems architecture, healthcare delivery system, data analytics.

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Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu

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After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.

Keywords: financial education, corporate governance, board

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Authors: Dimitra Alexiou

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During the last 10 years, in spite of the economic crisis, the number of tourists arriving in Greece has increased, particularly during the tourist season from April to October. In this paper, the number of annual tourist arrivals is studied to explore their preferences with regard to the month of travel, the selected destinations, as well the amount of money spent. The collected data are processed with statistical methods, yielding numerical and graphical results. From the computation of statistical parameters and the forecasting with exponential smoothing, useful conclusions are arrived at that can be used by the Greek tourism authorities, as well as by tourist organizations, for planning purposes for the coming years. The results of this paper and the computed forecast can also be used for decision making by private tourist enterprises that are investing in Greece. With regard to the statistical methods, the method of Simple Exponential Smoothing of time series of data is employed. The search for a best forecast for 2017 and 2018 provides the value of the smoothing coefficient. For all statistical computations and graphics Microsoft Excel is used.

Keywords: Tourism, statistical methods, exponential smoothing, land spatial planning, economy, Microsoft Excel.

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Authors: Ornst J., Voracek J., Allouache A., Allouache D.

Abstract:

Lack of resources for road infrastructure financing is a problem that currently affects not only eastern European economies but also many other countries especially in relation to the impact of global financial crisis. In this context, we are talking about the socalled short-investment problem as a result of long-term lack of investment resources. Based on an analysis of road infrastructure financing in the Czech Republic this article points out at weaknesses of current system and proposes a long-term planning methodology supported by system approach. Within this methodology and using created system dynamic model the article predicts the development of short-investment problem in the Country and in reaction on the downward trend of certain sources the article presents various scenarios resulting from the change of the structure of financial sources. In the discussion the article focuses more closely on the possibility of introduction of tax on vehicles instead of taxes with declining revenue streams and estimates its approximate price in relation to reaching various solutions of short-investment in time.

Keywords: Road financing, road infrastructure development, system dynamics

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Authors: Zenab Naseem, Sadia Imran

Abstract:

One of the key solutions to the climate change crisis is to develop renewable energy resources, such as solar and wind power and biogas. This paper explores the socioeconomic and environmental viability of solar energy, based on a case study of the Soan Valley Development Program. Under this project, local farmers were provided solar water pumps at subsidized rates. These have been functional for the last seven years and have gained popularity among the local communities. The study measures the economic viability of using solar energy in agriculture, based on data from 36 households, of which 12 households each use diesel, electric and solar water pumps. Our findings are based on the net present value of each technology type. We also carry out a qualitative assessment of the social impact of solar water pumps relative to diesel and electric pumps. Finally, we conduct an environmental impact assessment, using the lifecycle assessment approach. All three analyses indicate that solar energy is a viable alternative to diesel and electricity.

Keywords: Alternative energy sources, pollution control adoption and costs, solar energy pumps, sustainable development.

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Authors: Manuela Nayantara Jeyaraj

Abstract:

'Digital Divide' is a concept that has existed in this paradigm ever since the discovery of the first-generation technologies. Before the turn of the century, it was basically used to describe the gap between those with telephone communication access and those without it. At present, it is plainly descriptive in itself to illustrate the cavity among those with Internet access and those without. Though the concept of digital divide has been merely lying in sight for as long as time itself, the friction it caused has not yet been fully realized to solve major crisis situations. Unlike well-developed countries, Sri Lanka is still in the verge of moving farther away from a developing country in the race towards reaching a developed state. Access to technological resources varies from region to region, even within the island itself, with one region having a considerable percentage of its community exposed to the Internet and its related technologies, and the other unaware of such. Thus, this paper intends to analyze the roots for the still-extant gap instigated based on the concept of ‘Digital Divide’ and explores the plausible potentials that could be brought about by narrowing this prevailing percentage among the population, specifically entrenching the advantages reaped towards an economic augmentation and culture or lifestyle revolution on the path towards development.

Keywords: Communication, digital divide, society, Sri Lanka.

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Authors: Sabry A. El Azazy

Abstract:

Tourism plays an essential role in supporting the National Economy. Egypt was ranked as one of the most attractive touristic destinations worldwide. Tourism as a service sector affects political events and unstable conditions. Within the revolution of January 25th, 2011, tourism became below standards, and the archeological heritage sites were subject to threat. Because of the political tension and social instability, Egypt's tourism sector has drastically dropped. Currently, Egypt is working on overcoming the crisis caused by political unrest. However, it is expected to take a long time to get back to where it was, especially in terms of regaining the confidence of travelers in the country's ability to guarantee and maintain security and stability. Recently, many great projects have been done, such as; New Administrative Cairo Capital, New Suez Canal logistic project, New City of Al Alamin, New Grand Egyptian Museum, as well as other great projects that reflect positively on the tourism industry and archaeological heritage development in Egypt.

Keywords: Archaeology, archaeological heritage, attractions, national economy, political events, touristic destinations, tourism industry.

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