Search results for: Comparative Cross-validation
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 765

Search results for: Comparative Cross-validation

555 The Role of the Dominant Party of the Republic of Kazakhstan and China's Ruling Party in a Country's Modernization: Similarities and Differences

Authors: Dinara B. Dauyen, Nurzhamal A. Aldabek

Abstract:

The purpose of this work is to identify the positive and negative aspects of parties- participation in the country-s modernization, which in turn, will help a country to determine the necessary steps to improve the social-economic development. The article considers a question of the role of the dominating party of Kazakhstan and ruling party of China in the country-s modernization. Using a comparative analysis reveals differences between the People's Democratic Party “Nur Otan" and the Communist Party of China. It is discussed the policy of carrying out of modernization, the main actions of political parties of both countries with a view of modernization implementation.

Keywords: China's modernization, dominant party, ruling party, modernization of Kazakhstan.

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554 Analysis of Time Delay Simulation in Networked Control System

Authors: Nyan Phyo Aung, Zaw Min Naing, Hla Myo Tun

Abstract:

The paper presents a PD controller for the Networked Control Systems (NCS) with delay. The major challenges in this networked control system (NCS) are the delay of the data transmission throughout the communication network. The comparative performance analysis is carried out for different delays network medium. In this paper, simulation is carried out on Ac servo motor control system using CAN Bus as communication network medium. The True Time toolbox of MATLAB is used for simulation to analyze the effect of different delays.

Keywords: NCS, Time delay, CAN Bus, True time, MATLAB.

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553 Application of Granular Computing Paradigm in Knowledge Induction

Authors: Iftikhar U. Sikder

Abstract:

This paper illustrates an application of granular computing approach, namely rough set theory in data mining. The paper outlines the formalism of granular computing and elucidates the mathematical underpinning of rough set theory, which has been widely used by the data mining and the machine learning community. A real-world application is illustrated, and the classification performance is compared with other contending machine learning algorithms. The predictive performance of the rough set rule induction model shows comparative success with respect to other contending algorithms.

Keywords: Concept approximation, granular computing, reducts, rough set theory, rule induction.

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552 Understanding and Predicting Foam in Anaerobic Digester

Authors: I. R. Kanu, T. J. Aspray, A. J. Adeloye

Abstract:

As a result of the ambiguity and complexity surrounding anaerobic digester foaming, efforts have been made by various researchers to understand the process of anaerobic digester foaming so as to proffer a solution that can be universally applied rather than site specific. All attempts ranging from experimental analysis to comparative review of other process has not fully explained the conditions and process of foaming in anaerobic digester. Studying the current available knowledge on foam formation and relating it to anaerobic digester process and operating condition, this piece of work presents a succinct and enhanced understanding of foaming in anaerobic digesters as well as introducing a simple method to identify the onset of anaerobic digester foaming based on analysis of historical data from a field scale system.

Keywords: Anaerobic digester, foam, biogas, surfactants, wastewater sludge.

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551 Thermodynamic Analysis of GT Cycle with Naphtha or Natural Gas as the Fuel: A Thermodynamic Comparison

Authors: S. Arpit, P. K. Das, S. K. Dash

Abstract:

In this paper, a comparative study is done between two fuels, naphtha and natural gas (NG), for a gas turbine (GT) plant of 32.5 MW with the same thermodynamic configuration. From the energy analysis, it is confirmed that the turbine inlet temperature (TIT) of the gas turbine in the case of natural gas is higher as compared to naphtha, and hence the isentropic efficiency of the turbine is better. The result from the exergy analysis also confirms that due to high turbine inlet temperature in the case of natural gas, exergy destruction in combustion chamber is less. But comparing two fuels for overall analysis, naphtha has higher energy and exergetic efficiency as compared to natural gas.

Keywords: Exergy, gas turbine, naphtha, natural gas.

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550 A Comparative Study of Web-pages Classification Methods using Fuzzy Operators Applied to Arabic Web-pages

Authors: Ahmad T. Al-Taani, Noor Aldeen K. Al-Awad

Abstract:

In this study, a fuzzy similarity approach for Arabic web pages classification is presented. The approach uses a fuzzy term-category relation by manipulating membership degree for the training data and the degree value for a test web page. Six measures are used and compared in this study. These measures include: Einstein, Algebraic, Hamacher, MinMax, Special case fuzzy and Bounded Difference approaches. These measures are applied and compared using 50 different Arabic web-pages. Einstein measure was gave best performance among the other measures. An analysis of these measures and concluding remarks are drawn in this study.

Keywords: Text classification, HTML, web pages, machine learning, fuzzy logic, Arabic web pages.

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549 Populism and the Democratic Crisis: Comparative Study of Four Countries

Authors: Hyein Ko

Abstract:

In 2017, many signs of populism occurred around the world. This paper suggests that populism is not a sudden phenomenon, but a manifestation of common people’s will. By analyzing previous research, this paper proposes three factors related to populism: Inequality, experience of economic crisis, and rapid cultural change. With these three elements, four cases will be investigated in this article; two countries experienced populism, and the other two countries did not experience it. Comparing four cases by using three elements will give a fruitful foundation for further analysis regarding populism. In sum, aforementioned three elements are highly related to the occurrence of populism. However, there is one hidden factor: dissatisfaction with established politics. Thus, populism is not a temporal phenomenon. It is a red alert for democratic crisis.

Keywords: Common people, democratic crisis, populism, Trump phenomenon.

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548 Chloride Transport in Ultra High Performance Concrete

Authors: R. Pernicová

Abstract:

Chloride resistance in Ultra High Performance Concrete (UHPC) is determined in this paper. This work deals with the one dimension chloride transport, which can be potentially dangerous particularly for the durability of concrete structures. Risk of reinforcement corrosion due to exposure to the concrete surface to direct the action of chloride ions (mainly in the form de-icing salts or groundwater) is dangerously increases. The measured data are investigated depending on the depth of penetration of chloride ions into the concrete structure. Comparative measurements with normal strength concrete are done as well. The experimental results showed that UHCP have improved resistance of chlorides penetration than NSC and also chloride diffusion depth is significantly lower in UHCP.

Keywords: Chloride, One dimensional diffusion, Transport, Salinity, UHPC.

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547 Biocompatible Ionic Liquids in Liquid – Liquid Extraction of Lactic Acid: A Comparative Study

Authors: Konstantza Tonova, Ivan Svinyarov, Milen G. Bogdanov

Abstract:

Ionic liquids consisting of a phosphonium cationic moiety and a saccharinate anion are synthesized and compared with their precursors, phosphonium chlorides, in reference to their extraction efficiency towards L-lactic acid. On the base of measurements of the acid and the water partitioning in the equilibrium biphasic systems, the molar ratios between acid, water and ionic liquid are estimated which allows to deduce the lactic acid extractive pathway. The effect of a salting-out addition that strengthens hydrophobicity in both phases is studied in view to reveal the best biphasic system with respect to IL low toxicity and high extraction efficiency.

Keywords: Biphasic system, Extraction, Ionic liquids, Lactic acid.

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546 Comparative Dielectric Properties of 1,2-Dichloroethane with n-Methylformamide and n,n-Dimethylformamide Using Time Domain Reflectometry Technique in Microwave Frequency

Authors: Shagufta Tabassum, V. P. Pawar, jr., G. N. Shinde

Abstract:

The study of dielectric relaxation properties of polar liquids in the binary mixture has been carried out at 10, 15, 20 and 25 ºC temperatures for 11 different concentrations using time domain reflectometry technique. The dielectric properties of a solute-solvent mixture of polar liquids in the frequency range of 10 MHz to 30 GHz gives the information regarding formation of monomers and multimers and also an interaction between the molecules of the liquid mixture under study. The dielectric parameters have been obtained by the least squares fit method using the Debye equation characterized by a single relaxation time without relaxation time distribution.

Keywords: Excess properties, relaxation time, static dielectric constant, time domain refelectometry technique.

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545 Metabolites of Polygonum L. Plants Having Antitumor Properties

Authors: Dmitriy Yu. Korulkin, Raissa A. Muzychkina

Abstract:

The article represents the results of research of antitumor activity of different structural types of plant flavonoids extracted by authors from Polygonum L. plants in commercial reserves at the territory of the Republic of Kazakhstan. For the first time ever the results comparative research of antitumor activity of plant flavonoids of different structural groups and their synthetic derivatives have been represented. The results of determination of toxicity of flavonoids in single parenteral infusion conditions have been represented. Experimental substantiation of possible mechanisms of antiproliferative and cytotoxic action of flavonoids has been suggested. The perspectives of usage of plant flavonoids as medications and creation of effective dosage forms of antitumor medicines on their basis have been substantiated.

Keywords: Antitumor activity, cytotoxicity, flavonoids, Polygonum L., secondary metabolites.

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544 Fear-Of-Failure and Women Entrepreneurship: Comparative Analysis Austria versus USA

Authors: Magdalena Meusburger, Caroline Maria Hofer

Abstract:

The advancement of women entrepreneurship in the last decade has been a vital driver for social and economic development. Despite the positive evolution, women entrepreneurs are still underrepresented in entrepreneurial ecosystems. Fear-of-failure is a major factor inhibiting their entrepreneurial activity. This survey-based research focused on aspiring and established entrepreneurial women in Austria and in the USA. It explored and compared the extent to which entrepreneurial fear-of-failure influences their self-employment and their aspirations to become self-employed. The results demonstrate that entrepreneurial fear-of-failure is significantly higher for women with the wish for self-employment than it is for women who are already self-employed. In terms of the geographical and cultural setting no major differences were confirmed.

Keywords: Entrepreneurial ecosystems, fear-of-failure, female entrepreneurship, women entrepreneurship.

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543 Research on Static and Dynamic Behavior of New Combination of Aluminum Honeycomb Panel and Rod Single-layer Latticed Shell

Authors: Xu Chen, Zhao Caiqi

Abstract:

In addition to the advantages of light weight, resistant corrosion and ease of processing, aluminum is also applied to the long-span spatial structures. However, the elastic modulus of aluminum is lower than that of the steel. This paper combines the high performance aluminum honeycomb panel with the aluminum latticed shell, forming a new panel-and-rod composite shell structure. Through comparative analysis between the static and dynamic performance, the conclusion that the structure of composite shell is noticeably superior to the structure combined before.

Keywords: Combination of aluminum honeycomb panel and rod latticed shell, dynamic performance, response spectrum analysis, seismic properties.

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542 A Comparative Study of Electrical Transport Phenomena in Ultrathin vs. Nanoscale SOI MOSFETs Devices

Authors: A. Karsenty, A. Chelly

Abstract:

Ultrathin (UTD) and Nanoscale (NSD) SOI-MOSFET devices, sharing a similar W/L but with a channel thickness of 46nm and 1.6nm respectively, were fabricated using a selective “gate recessed” process on the same silicon wafer. The electrical transport characterization at room temperature has shown a large difference between the two kinds of devices and has been interpreted in terms of a huge unexpected series resistance. Electrical characteristics of the Nanoscale device, taken in the linear region, can be analytically derived from the ultrathin device ones. A comparison of the structure and composition of the layers, using advanced techniques such as Focused Ion Beam (FIB) and High Resolution TEM (HRTEM) coupled with Energy Dispersive X-ray Spectroscopy (EDS), contributes an explanation as to the difference of transport between the devices.

Keywords: Nanoscale Devices, SOI MOSFET, Analytical Model, Electron Transport.

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541 The Use of Methods and Techniques of Drama Education with Kindergarten Teachers

Authors: Vladimira Hornackova, Jana Kottasova, Zuzana Vanova, Anna Jungrova

Abstract:

Present study deals with drama education in preschool education. The research made in this field brings a qualitative comparative survey with the aim to find out the use of methods and techniques of drama education in preschool education at university or secondary school graduate preschool teachers. The research uses a content analysis and an unstandardized questionnaire for preschool teachers and obtained data are processed with the help of descriptive methods and correlations. The results allow a comparison of aspects applied through drama in preschool education. The research brings impulses for education improvement in kindergartens and inspiration for university study programs of drama education in the professional training of preschool teachers.

Keywords: Drama education, preschool education, preschool teacher, research.

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540 A Study of Color Transformation on Website Images for the Color Blind

Authors: Siew-Li Ching, Maziani Sabudin

Abstract:

In this paper, we study on color transformation method on website images for the color blind. The most common category of color blindness is red-green color blindness which is viewed as beige color. By transforming the colors of the images, the color blind can improve their color visibility. They can have a better view when browsing through the websites. To transform colors on the website images, we study on two algorithms which are the conversion techniques from RGB color space to HSV color space and self-organizing color transformation. The comparative study focuses on criteria based on the ease of use, quality, accuracy and efficiency. The outcome of the study leads to enhancement of website images to meet the color blinds- vision requirements in perceiving image detailed.

Keywords: Color blind, color transformation, HSV (Hue, Saturation, Value), RGB (Red, Green, Blue).

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539 Association Rules Mining and NOSQL Oriented Document in Big Data

Authors: Sarra Senhadji, Imene Benzeguimi, Zohra Yagoub

Abstract:

Big Data represents the recent technology of manipulating voluminous and unstructured data sets over multiple sources. Therefore, NOSQL appears to handle the problem of unstructured data. Association rules mining is one of the popular techniques of data mining to extract hidden relationship from transactional databases. The algorithm for finding association dependencies is well-solved with Map Reduce. The goal of our work is to reduce the time of generating of frequent itemsets by using Map Reduce and NOSQL database oriented document. A comparative study is given to evaluate the performances of our algorithm with the classical algorithm Apriori.

Keywords: Apriori, Association rules mining, Big Data, data mining, Hadoop, Map Reduce, MongoDB, NoSQL.

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538 Designing and Implementing an Innovative Course about World Wide Web, Based on the Conceptual Representations of Students

Authors: Andreanna K. Koufou, Dimitrios K. Tsolis, Marida I. Ergazaki, Vasilis I. Komis, Vasiliki P. Zogza

Abstract:

Internet is nowadays included to all National Curriculums of the elementary school. A comparative study of their goals leads to the conclusion that a complete curriculum should aim to student-s acquisition of the abilities to navigate and search for information and additionally to emphasize on the evaluation of the information provided by the World Wide Web. In a constructivistic knowledge framework the design of a course has to take under consideration the conceptual representations of students. The following paper presents the conceptual representation of students of eleven years old, attending the Sixth Grade of Greek Elementary School about World Wide Web and their use in the design and implementation of an innovative course.

Keywords: Conceptual representations, Constructivism, Internet Didactics, World Wide Web

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537 Comparative Study of Eva and Waste Polymer Modified Bitumen

Authors: Mohammed Sadeque, K. A. Patil

Abstract:

Polymer-modified bitumen is used to combat different pavement distresses and to increase the life span of pavement. Unmodified bitumen cannot perform better with the range extreme minimum and maximum pavement temperatures. The polymers commonly used to modify the bitumen are ethylene vinyl acetate (EVA) styrene butadiene styrene (SBS). The aim this study to compare the performance of EVA modified bitumen with the bitumen modified by waste low density polyethylene (LDPE), polypropylene (PP) obtained from waste carry bags and waste tyre rubber (CR) to encourage the use of waste polymer whose disposal is big problem today, in place of costly virgin polymer. From the experimental study, it was found that waste polymers are also effective in improving the properties bitumen as that of virgin polymer.

Keywords: Waste plastic, LDPE, PP, Modified bitumen, EVA.

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536 New Corneal Reflection Removal Method Used In Iris Recognition System

Authors: Walid Aydi, Nouri Masmoudi, Lotfi Kamoun

Abstract:

Images of human iris contain specular highlights due to the reflective properties of the cornea. This corneal reflection causes many errors not only in iris and pupil center estimation but also to locate iris and pupil boundaries especially for methods that use active contour. Each iris recognition system has four steps: Segmentation, Normalization, Encoding and Matching. In order to address the corneal reflection, a novel reflection removal method is proposed in this paper. Comparative experiments of two existing methods for reflection removal method are evaluated on CASIA iris image databases V3. The experimental results reveal that the proposed algorithm provides higher performance in reflection removal.

Keywords: iris, pupil, specular highlights, reflection removal

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535 Grape Seed Extract in Prevention and Treatment of Liver Toxic Cirrhosis in Rats

Authors: S. Buloyan, V. Mamikonyan, H. Hakobyan, H. Harutyunyan, H. Gasparyan

Abstract:

The liver is the strongest regenerating organ of the organism, and even with 2/3 surgically removed, it can regenerate completely. Hence liver cirrhosis may only develop when the regenerating system is off. We present the results of a comparative study of structural and functional characteristics of rat liver tissue under the conditions of toxic liver cirrhosis development, induced by carbon tetrachloride, and its prevention/treatment by natural compounds with antioxidant and immune stimulating action. Studies were made on Wister rats, weighing 120~140 g. Grape seeds extracts, separately and in combination with well-known anticirrhotic drug ursodeoxycholic acid (Urdoxa), have demonstrated effectiveness in prevention of liver cirrhosis development and its treatment.

Keywords: Carbon tetrachloride, GSE, liver cirrhosis, prevention, treatment.

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534 Comparative Quantitative Study on Learning Outcomes of Major Study Groups of an Information and Communication Technology Bachelor Educational Program

Authors: Kari Björn, Mikael Soini

Abstract:

Higher Education system reforms, especially Finnish system of Universities of Applied Sciences in 2014 are discussed. The new steering model is based on major legislative changes, output-oriented funding and open information. The governmental steering reform, especially the financial model and the resulting institutional level responses, such as a curriculum reforms are discussed, focusing especially in engineering programs. The paper is motivated by management need to establish objective steering-related performance indicators and to apply them consistently across all educational programs. The close relationship to governmental steering and funding model imply that internally derived indicators can be directly applied. Metropolia University of Applied Sciences (MUAS) as a case institution is briefly introduced, focusing on engineering education in Information and Communications Technology (ICT), and its related programs. The reform forced consolidation of previously separate smaller programs into fewer units of student application. New curriculum ICT students have a common first year before they apply for a Major. A framework of parallel and longitudinal comparisons is introduced and used across Majors in two campuses. The new externally introduced performance criteria are applied internally on ICT Majors using data ex-ante and ex-post of program merger.  A comparative performance of the Majors after completion of joint first year is established, focusing on previously omitted Majors for completeness of analysis. Some new research questions resulting from transfer of Majors between campuses and quota setting are discussed. Practical orientation identifies best practices to share or targets needing most attention for improvement. This level of analysis is directly applicable at student group and teaching team level, where corrective actions are possible, when identified. The analysis is quantitative and the nature of the corrective actions are not discussed. Causal relationships and factor analysis are omitted, because campuses, their staff and various pedagogical implementation details contain still too many undetermined factors for our limited data. Such qualitative analysis is left for further research. Further study must, however, be guided by the relevance of the observations.

Keywords: Engineering education, integrated curriculum, learning outcomes, performance measurement.

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533 Comparison of S-transform and Wavelet Transform in Power Quality Analysis

Authors: Mohammad Javad Dehghani

Abstract:

In the power quality analysis non-stationary nature of voltage distortions require some precise and powerful analytical techniques. The time-frequency representation (TFR) provides a powerful method for identification of the non-stationary of the signals. This paper investigates a comparative study on two techniques for analysis and visualization of voltage distortions with time-varying amplitudes. The techniques include the Discrete Wavelet Transform (DWT), and the S-Transform. Several power quality problems are analyzed using both the discrete wavelet transform and S–transform, showing clearly the advantage of the S– transform in detecting, localizing, and classifying the power quality problems.

Keywords: Power quality, S-Transform, Short Time FourierTransform , Wavelet Transform, instantaneous sag, swell.

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532 Comparative Study of Two New Configurations of Solar Photovoltaic Thermal Collectors

Authors: K. Touafek, A. Khelifa, E. H. Khettaf, A. Embarek

Abstract:

Hybrid photovoltaic thermal (PV/T) solar system comprises a solar collector which is disposed on photovoltaic solar cells. The disadvantage of a conventional photovoltaic cell is that its performance decreases as the temperature increases. Indeed, part of the solar radiation is converted into electricity and is dissipated as heat, increasing the temperature of the photovoltaic cell with respect to the ambient temperature. The objective of this work is to study experimentally and implement a hybrid prototype to evaluate electrical and thermal performance. In this paper, an experimental study of two new configurations of hybrid collectors is exposed. The results are given and interpreted. The two configurations of absorber studied are a new combination with tubes and galvanized tank, the other is a tubes and sheet.

Keywords: Experimental, Photovoltaic, Solar, Temperature.

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531 Comparative Kinetic Study on Alkylation of p-cresol with Tert-butyl Alcohol using Different SO3-H Functionalized Ionic Liquid Catalysts

Authors: Pandian Elavarasan, Kishore Kondamudi, Sreedevi Upadhyayula

Abstract:

Ionic liquids are well known as green solvents, reaction media and catalysis. Here, three different sulfonic acid functional ionic liquids prepared in the laboratory are used as catalysts in alkylation of p-cresol with tert-butyl alcohol. The kinetics on each of the catalysts was compared and a kinetic model was developed based on the product distribution over these catalysts. The kinetic parameters were estimated using Marquadt's algorithm to minimize the error function. The Arrhenius plots show a curvature which is best interpreted by the extended Arrhenius equation.

Keywords: Alkylation, p-cresol, tert-butyl alcohol, kinetics, activation parameter, extended Arrhenius equation.

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530 Parametric Cost Estimating Relationships for Design Effort Estimation

Authors: Adil Salam, Nadia Bhuiyan, Gerard J. Gouw

Abstract:

The Canadian aerospace industry faces many challenges. One of them is the difficulty in estimating costs. In particular, the design effort required in a project impacts resource requirements and lead-time, and consequently the final cost. This paper presents the findings of a case study conducted for recognized global leader in the design and manufacturing of aircraft engines. The study models parametric cost estimation relationships to estimate the design effort of integrated blade-rotor low-pressure compressor fans. Several effort drivers are selected to model the relationship. Comparative analyses of three types of models are conducted. The model with the best accuracy and significance in design estimation is retained.

Keywords: Effort estimation, design, aerospace.

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529 Comparative Analysis between Corn and Ramon (Brosimum alicastrum) Starches to Be Used as Sustainable Bio-Based Plastics

Authors: C. R. Ríos-Soberanis, V. M. Moo-Huchin, R. J. Estrada-Leon, E. Perez-Pacheco

Abstract:

Polymers from renewable resources have attracted an increasing amount of attention over the last two decades, predominantly due to two major reasons: firstly environmental concerns, and secondly the realization that our petroleum resources are finite. Finding new uses for agricultural commodities is also an important area of research. Therefore, it is crucial to get new sources of natural materials that can be used in different applications. Ramon tree (Brosimum alicastrum) is a tropical plant that grows freely in Yucatan countryside. This paper focuses on the seeds recollection, processing and starch extraction and characterization in order to find out about its suitability as biomaterial. Results demonstrated that it has a high content of qualities to be used not only as comestible but also as an important component in polymeric blends.

Keywords: Biomaterials, biopolymer, starch, characterization techniques.

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528 Biometric Methods and Implementation of Algorithms

Authors: Parvinder S. Sandhu, Iqbaldeep Kaur, Amit Verma, Samriti Jindal, Shailendra Singh

Abstract:

Biometric measures of one kind or another have been used to identify people since ancient times, with handwritten signatures, facial features, and fingerprints being the traditional methods. Of late, Systems have been built that automate the task of recognition, using these methods and newer ones, such as hand geometry, voiceprints and iris patterns. These systems have different strengths and weaknesses. This work is a two-section composition. In the starting section, we present an analytical and comparative study of common biometric techniques. The performance of each of them has been viewed and then tabularized as a result. The latter section involves the actual implementation of the techniques under consideration that has been done using a state of the art tool called, MATLAB. This tool aids to effectively portray the corresponding results and effects.

Keywords: Matlab, Recognition, Facial Vectors, Functions.

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527 Analysis of Some Solutions to Protect the Tombolo of GIENS

Authors: Yves Lacroix, Van Van Than, Didier Leandri, Pierre Liardet

Abstract:

The tombolo of Giens is located in the town of Hyères (France). We recall the history of coastal erosion, and prominent factors affecting the evolution of the western tombolo. We then discuss the possibility of stabilizing the western tombolo. Our argumentation relies on a coupled model integrating swells, currents, water levels and sediment transport. We present the conclusions of the simulations of various scenarios, including pre-existing propositions from coastal engineering offices. We conclude that beach replenishment seems to be necessary but not sufficient for the stabilization of the beach. Breakwaters reveal effective particularly in the most exposed northern area. Some solutions fulfill conditions so as to be elected as satisfactory. We give a comparative analysis of the efficiency of 14 alternatives for the protection of the tombolo.

Keywords: Breakwaters, coupled models, replenishment, silting.

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526 Impact of Financial System’s Development on Economic Development: An Empirical Investigation

Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.

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