Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 9140

Search results for: Economic analysis

9140 How Do Crisis Affect Economic Policy?

Authors: Eva Kotlánová

Abstract:

After recession that began in 2007 in the United States and subsequently spilled over the Europe we could expect recovery of economic growth. According to the last estimation of economic progress of European countries, this recovery is not strong enough. Among others, it will depend on economic policy, where and in which way, the economic indicators will proceed. Economic theories postulate that the economic subjects prefer stably, continual economic policy without repeated and strong fluctuations. This policy is perceived as support of economic growth. Mostly in crises period, when the government must cope with consequences of recession, the economic policy becomes unpredictable for many subjects and economic policy uncertainty grows, which have negative influence on economic growth. The aim of this paper is to use panel regression to prove or disprove this hypothesis on the example of five largest European economies in the period 2008–2012.

Keywords: Economic Crises in Europe, Economic Policy, Uncertainty, Panel Analysis Regression.

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9139 Value Analysis of Islamic Banking and Conventional Banking to Measure Value Co-creation

Authors: Amna Javed, Hisashi Masuda, Youji Kohda

Abstract:

This study examines the value analysis in Islamic and conventional banking services in Pakistan. Many scholars have focused on co-creation of values in services but mainly economic values not non-economic. As Islamic banking is based on Islamic principles that are more concerned with non-economic values (well-being, partnership, fairness, trust worthy, and justice) than economic values as money in terms of interest.  This study is important to know the providers point of view about the co-created values, because, it may be more sustainable and appropriate for today’s unpredictable socio-economic environment. Data were collected from 4 banks (2 Islamic and 2 conventional banks). Text mining technique is applied for data analysis, and values with 100% occurrences in Islamic banking are chosen. The results reflect that Islamic banking is more centric towards non-economic values than economic values and it promotes team work and partnership concept by applying Islamic spirit and trust worthiness concept.

Keywords: Economic values, Islamic banking, Non-economic values, Value system.

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9138 The External Debt in the Context of Economic Growth: The Sample of Turkey

Authors: Ayşen Edirneligil, Mehmet Mucuk

Abstract:

In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: Economic growth, external debt, time series analysis, Turkish economy.

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9137 Economic Factorial Analysis of CO2 Emissions: The Divisia Index with Interconnected Factors Approach

Authors: Alexander Y. Vaninsky

Abstract:

This paper presents a method of economic factorial analysis of the CO2 emissions based on the extension of the Divisia index to interconnected factors. This approach, contrary to the Kaya identity, considers three main factors of the CO2 emissions: gross domestic product, energy consumption, and population - as equally important, and allows for accounting of all of them simultaneously. The three factors are included into analysis together with their carbon intensities that allows for obtaining a comprehensive picture of the change in the CO2 emissions. A computer program in R-language that is available for free download serves automation of the calculations. A case study of the U.S. carbon dioxide emissions is used as an example. 

Keywords: CO2 emissions, Economic analysis, Factorial analysis, Divisia index, Interconnected factors.

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9136 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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9135 State Economic Safety in the Conditions of Innovative Economy Formation

Authors: Zh.Mingaleva, K.Balkova

Abstract:

Innovations and innovative activity get the increasing value for successful financial and economic activity of the countries and regions. The level of innovative sphere development determines place of a country or a region in world economy and forms a basis of steady economic growth. This article is devoted to different aspects of organization of the national economic safety in the conditions of innovative development, its problems, risks and threats. Economy can be considered as aspiring for transition to innovative way only with finding of economic safety: financial independence, power stability and technological progress. There are statistical indicators, defining the level of economic security and factors, threatening economic safety of the state. The research is based on the analysis of factors and indicators in conditions of innovative development. The paper is illustrated by the examples of possible estimated system of the economic safety level.

Keywords: Economic safety, innovative activity, innovative development, innovative economy

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9134 Future of Electric Power Generation Technologies: Environmental and Economic Comparison

Authors: Abdulrahman A. Bahaddad, Mohammed Beshir

Abstract:

The objective of this paper is to demonstrate and describe eight different types of power generation technologies and to understand the history and future trends of each technology. In addition, a comparative analysis between these technologies will be presented with respect to their cost analysis and associated performance.

Keywords: Conventional power generation, economic analysis, environmental impact, renewable energy power generation.

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9133 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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9132 The Sustainable Value Model: Comparative Analysis Romania and EU

Authors: Burja C., Burja V.

Abstract:

For Romania, the fulfilment of the obligations undertaken as a member state of the European Union in accordance with the Treaty of Accession requires the effective implementation of sustainable development principles and practices, this being the only reasonable development option, which adequately draws in on the economic, social and environment resources. Achieving this objective is based on a profound analysis of the realities in the Romanian economy, which will reflect the existent situation and the action directions for the future. The paper presents an analysis of the Romanian economic performances compared to the EU economy, based on the sustainable value (SV) model. The analysis highlighted the considerable gap between Romania and the EU regarding the sustainable capitalization of resources, the provided information being useful to justify strategic development decisions at a micro and macro levels.

Keywords: Sustainable value, sustainable development, opportunity cost, economic performance.

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9131 Transmission Expansion Planning with Economic Dispatch and N-1Constraints

Authors: A. Charlangsut, M. Boonthienthong, N. Rugthaicharoencheep

Abstract:

This paper proposes a mathematical model for transmission expansion employing optimization method with scenario analysis approach. Economic transmission planning, on the other hand, seeks investment opportunities so that network expansions can generate more economic benefits than the costs. This approach can be used as a decision model for building new transmission lines added to the existing transmission system minimizing costs of the entire system subject to various system’s constraints and consider of loss value of transmission system and N-1 checking. The results show that the proposed model is efficient to be applied for the larger scale of power system topology.

Keywords: Transmission Expansion Planning, Economic Dispatch, Scenario Analysis, Contingency.

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9130 CSR of top Portuguese Companies: Relation between Social Performance and Economic Performance

Authors: Afonso, S. C., Fernandes, P. O., Monte, A. P.

Abstract:

Modern times call organizations to have an active role in the social arena, through Corporate Social Responsibility (CSR). The objective of this research was to test the hypothesis that there is a positive relation between social performance and economic performance, and if there is a positive correlation between social performance and financial-economic performance. To test these theories a measure of social performance, based on the Green Book of Commission of the European Community, was used in a group of nineteen Portuguese top companies, listed on the PSI 20 index, through a period of five years, since 2005 to 2009. A clusters analysis was applied to group companies by their social performance and to compare and correlate their economic performance. Results indicate that companies that had a better social performance are not the ones who had a better economic performance, and suggest that the middle path might provide a good relation CSR-Economic performance, as a basis to a sustainable development.

Keywords: Corporate Social Responsibility, Economic Performance, Win-Win relationship

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9129 Eco-innovation and Economic Performance in Industrial Clusters: Evidence from Italy

Authors: Sara Tessitore, Tiberio Daddi, Fabio Iraldo

Abstract:

The article aims to investigate the presence of a correlation between eco-innovation and economic performance within industrial districts. The case analyzed in this article is based on a study concerning a sample of 54 Italian industrial clusters entitled "Eco-Districts" that has compiled a list of the most eco-efficient districts at the national level. After selecting two districts, this study assesses the economic performance of the last three years through the analysis of trends in four indicators. The results show that only in some cases there is a connection between eco innovation and economic performance.

Keywords: clusters, industrial districts, eco-innovation, economic performance.

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9128 Urban Regeneration of Historic Paths: A Case Study of Kom El Dekka Historic Path

Authors: Ahmed R. Ismail, Hatem A. El Tawil, Nevin G. Rezk

Abstract:

Historic paths in today's cities are facing the pressure of the urban development due to the rapid urban growth. Every new development is tearing the old urban fabric and the socio-economic character of the historic paths. Furthermore, in some cases historic paths suffer from negligence and decay. Kom El Dekka historic path was one of those deteriorated paths in the city of Alexandria, Egypt, in spite of its high heritage and socio-economic value. Therefore, there was a need to develop urban regeneration strategies as a part of a wider sustainable development vision, to handle the situation and revitalize the path as a livable space in the heart of the city. This study aims to develop a comprehensive assessment methodology to evaluate the different values of the path and to create community-oriented and economic-based analysis methodology for its socio-economic values. These analysis and assessments provide strategies for any regeneration action plan for Kom El Dekka historic path.

Keywords: Community-oriented, economic-based, syntactical analysis, urban regeneration.

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9127 Impact of Health Sector Economic Reforms in Underdeveloped Countries

Authors: Haga Elimam

Abstract:

This paper investigates the connotation, and some of the realistic implications, of the economic reform of health sector in under developed countries. The paper investigates the issues that economic reforms have to address, and the policy targets they are considered to accomplish. The work argues that the development of economic reform is not connected only with understanding the priorities and refining them, furthermore with reformation and restructuring the organizations through which health policies are employed. Considering various organizational values, that are likely to be regular to all economic reform programs, a regulatory approach to institutional reform is unsuitable. The paper further investigates the selection of economic reform that may as well influence via technical suggestions and analysis, but the verdict to continue, and the consequent success of execution, eventually depends on the progressive political sustainability. The paper concludes by giving examples of institutional reforms from various underdeveloped countries and includes recommendation of the responsibility and control of donor organizations.

Keywords: Economic Reform, Health Sector, underdeveloped Countries.

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9126 Strategic Investment in Infrastructure Development to Facilitate Economic Growth in the United States

Authors: Arkaprabha Bhattacharyya, Makarand Hastak

Abstract:

The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: Economic growth, infrastructure development, infrastructure projects, strategic investment.

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9125 Economic Analysis of Endogenous Growth Model with ICT Capital

Authors: Shoji Katagiri, Hugang Han

Abstract:

This paper clarifies the role of ICT capital in economic growth. Albeit ICT remarkably contributes to economic growth, there are few studies on ICT capital in ICT sector from theoretical point of view. In this paper, production function of ICT which is used as input of intermediate good in final good and ICT sectors is incorporated into our model. In this setting, we analyze the role of ICT on balance growth path and show the possibility of general equilibrium solutions for this model. Through the simulation of the equilibrium solutions, we find that when ICT impacts on economy and economic growth increases, it is necessary that increases of efficiency at ICT sector and of accumulation of non-ICT and ICT capitals occur simultaneously.

Keywords: Endogenous economic growth, ICT, intensity, capital accumulation.

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9124 Multicriteria Decision Analysis for Development Ranking of Balkan Countries

Authors: C. Ardil

Abstract:

In this research, the Balkan peninsula countries' developmental integration into European Union represents the strategic economic development objectives of the countries in the region. In order to objectively analyze the level of economic development competition of Balkan Peninsula countries, the mathematical compromise programming technique of multicriteria evaluation is used in this ranking problem. The primary aim of this research is to explain the role and significance of the multicriteria method evaluation using a real example of compromise solutions. Using the mathematical compromise programming technique, twelve countries of the Balkan Peninsula are economically evaluated and mutually compared. The economic development evaluation of the countries is performed according to five evaluation criteria forming the basis for economic development evaluation. The multiattribute model is solved using the mathematical compromise programming technique for producing different Pareto solutions. The results obtained by the multicriteria evaluation gives the possibility of identification and evaluation of the most eminent economic development indicators for each country separately. Finally, in this way, the proposed method has proved to be a successful model for the evaluation of the Balkan peninsula countries' economic development competition.

Keywords: Balkan peninsula countries, standard deviation, multicriteria decision making, mathematical compromise programming, multicriteria decision making, multicriteria analysis, multicriteria decision analysis.

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9123 A Preliminary Analysis of Sustainable Development in the Belgrade Metropolitan Area

Authors: S. Zeković, M. Vujošević, T. Maričić

Abstract:

The paper provides a comprehensive analysis of the sustainable development in the Belgrade Metropolitan Region - BMA (level NUTS 2) preliminary evaluating the three chosen components: 1) economic growth and developmental changes; 2) competitiveness; and 3) territorial concentration and industrial specialization. First, we identified the main results of development changes and economic growth by applying Shift-share analysis on the metropolitan level. Second, the empirical evaluation of competitiveness in the BMA is based on the analysis of absolute and relative values of eight indicators by Spider method. Paper shows that the consideration of the national share, industrial mix and metropolitan/regional share in total Shift share of the BMA, as well as economic/functional specialization of the BMA indicate very strong process of deindustrialization. Allocative component of the BMA economic growth has positive value, reflecting the above-average sector productivity compared to the national average. Third, the important positive role of metropolitan/regional component in decomposition of the BMA economic growth is highlighted as one of the key results. Finally, comparative analysis of the industrial territorial concentration in the BMA in relation to Serbia is based on location quotient (LQ) or Balassa index as a valid measure. The results indicate absolute and relative differences in decrease of industry territorial concentration as well as inefficiency of utilizing territorial capital in the BMA. Results are important for the increase of regional competitiveness and territorial distribution in this area as well as for improvement of sustainable metropolitan and sector policies, planning and governance on this level.

Keywords: Belgrade Metropolitan Area (BMA), Comprehensive analysis/evaluation, economic growth and competitiveness, sustainable development.

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9122 Electricity Consumption and Economic Growth: The Case of Mexico

Authors: Mario Gómez, José Carlos Rodríguez

Abstract:

The causality between energy consumption and economic growth has been an important issue in the economic literature. This paper studies the causal relationship between electricity consumption and economic growth in Mexico for the period of 1971-2011. In so doing, unit root and causality tests are applied. The results show that energy consumption and economic growth series are stationary and there is also a causality relationship running from economic growth to electricity consumption. Therefore, any energy conservation policy would have little or no impact at all on economic growth in México.

Keywords: Causality, economic growth, electricity consumption, Mexico.

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9121 UEFA Super Cup: Economic Effects on Georgian Economy

Authors: Giorgi Bregadze

Abstract:

Tourism is the most viable and sustainable economic development option for Georgia and one of the main sources of foreign exchange earnings. Events are considered as one of the most effective ways to attract foreign visitors to the country, and, recently, the government of Georgia has begun investing in this sector very actively. This article stresses the necessity of research based economic policy in the tourism sector. In this regard, it is of paramount importance to measure the economic effects of the events which are subsidized by taxpayers’ money. The economic effect of events can be analyzed from two perspectives; financial perspective of the government and perspective of economic effects of the tourism administration. The article emphasizes more realistic and all-inclusive focus of the economic effect analysis of the tourism administration as it concentrates on the income of residents and local businesses, part of which generate tax revenues for the government. The public would like to know what the economic returns to investment are. In this article, the methodology used to describe the economic effects of UEFA Super Cup held in Tbilisi, will help to answer this question. Methodology is based on three main principles and covers three stages. Using the suggested methodology article estimates the direct economic effect of UEFA Super cup on Georgian economy. Although the attempt to make an economic effect analysis of the event was successful in Georgia, some obstacles and insufficiencies were identified during the survey. The article offers several recommendations that will help to refine methodology and improve the accuracy of the data. Furthermore, it is very important to receive the correct standard of measurement of events in Georgia. In this caseü non-ethical acts of measurement which are widely utilized by different research companies will not trigger others to show overestimated effects. It is worth mentioning that to author’s best knowledge, this is the first attempt to measure the economic effect of an event held in Georgia.

Keywords: Biased economic effect analysis, expenditure of local citizens, time switchers and casuals, UEFA super cup.

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9120 Analysis of the Evolution of Social and Economic Indicators of the Mercosur´s Members: 1980-2012

Authors: L. Aparecida Bastos, J. Leige Lopes, J. Crepaldi, R. Monteiro da Silva

Abstract:

The objective of this study is to analyze the evolution of some social and economic indicators of Mercosur´s economies from 1980 to 2012, based on the statistics of the Latin American Integration Association (LAIA). The objective is to observe if after the accession of these economies to Mercosur (the first accessions occurred in 1994) these indicators showed better performance, in order to demonstrate if economic integration contributed to improved trade, macroeconomic performance, and level of social and economic development of member countries. To this end, the methodologies used will be a literature review and descriptive statistics. The theoretical framework that guides the work are the theories of Integration: Classical Liberal, Marxist and structural-proactive. The results reveal that most social and economic indicators showed better performance in those economies that joined Mercosur after 1994. This work is the result of an investigation already completed.

Keywords: Economic integration, mercosur, social indicators, economic indicators.

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9119 The Basic Problems for the Realization of the Concept of Economic Policy

Authors: R. Gvelesiani, I. Gogorishvili

Abstract:

The concept of economic policy and the practical economic policy diverge from each other at a certain stage of development. This is related to the concept of realization of the underlying problems. It comes with all the problems emerged in the market oriented economic order due to the political processes based on social welfare policy. The realization of the concept of economic policy is impeded by economic and political obstacles. If you want to fill the appeared between the concept and reality, it is necessary to identify and avoid these obstacles. It requires the following: increase of the level of the knowledge of prevention technology in understanding of economic relations, as well as political aspects of the formation of ideas; perfection of economic policy toolkit, and political methods. It is necessary to realize what is the main precondition of implementation and further development of the concept of economic policy, as well as the formation of opinions about economic and public safety. This is a broad consensus on the basic values of the content and the scale of action, which the general public wants to be realized.

Keywords: Economic Policy, Basic Problems, Social Welfare Policy.

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9118 The Impact of Revenue Gap on Economic Growth: A Case Study of Pakistan

Authors: M. Ilyas, M. W. Siddiqi

Abstract:

This study employs auto-regressive distributed lag (ARDL) bounds approach to cointegration for long run and errorcorrection modeling (ECM) for short run analysis to examine the relationship between revenue gap and economic growth for Pakistan using annual time series data over the period 1980 to 2008. The short and long run results indicate that revenue gap is statistical significant and negatively effect economic growth. The significant and negative coefficient of error correction term in ECM indicates that after a shock, the long rum equilibrium will again converge towards equilibrium about 10.406 percent within a year.

Keywords: ARDL cointegration, Economic Growth, RevenueGap, Pakistan.

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9117 The Evaluation of Event Sport Tourism on Regional Economic Development

Authors: Huei-Wen Lin, Huei-Fu Lu

Abstract:

Event sport tourism (EST) has become an especially important economic sector around the world. As the magnitude continues to grow, attracting more tourists, media, and investment for the host community, and many local areas/regions and states have identified the expenditures by visitors as a potential source of economic or employment growth. The main purposes of this study are to investigate stakeholders’ insights into the feature of hosting EST and using them as a regional development strategy. Continuing the focus of previous literature on the regional development and economic benefits by hosting EST, a total of fıve semi-structured interview questions are designed and a thematic analysis is employed to conduct with eight key sport and tourism decision makers in Atlanta during July to August 2016. Through the depth interviews, the study will contribute to a better understanding of stakeholders’ decision-making, identifying benefits and constraints as well as leveraging the impacts of hosting EST. These findings have provided stakeholders’ perspectives of hosting EST and using them as a reference of regional development in emerging sport tourism markets in the US. Additionally, this study examines key considerations and issues that affect and are critical to reliable understanding of the economic impacts of hosting EST on the regional development, and it will be able to benefit future management authorities (i.e. governments and communities) in their sport tourism development endeavors in defining and hosting successful EST. Furthermore, the insights gained from the qualitative analysis could help other cities/regions analyzing the economic impacts of hosting EST and using it as an instrument of city development strategy.

Keywords: Event sport tourism, regional economic development, thematic analysis, stakeholder.

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9116 Optimizing the Project Delivery Time with Time Cost Trade-offs

Authors: Wei Lo, Ming-En Kuo

Abstract:

While to minimize the overall project cost is always one of the objectives of construction managers, to obtain the maximum economic return is definitely one the ultimate goals of the project investors. As there is a trade-off relationship between the project time and cost, and the project delivery time directly affects the timing of economic recovery of an investment project, to provide a method that can quantify the relationship between the project delivery time and cost, and identify the optimal delivery time to maximize economic return has always been the focus of researchers and industrial practitioners. Using genetic algorithms, this study introduces an optimization model that can quantify the relationship between the project delivery time and cost and furthermore, determine the optimal delivery time to maximize the economic return of the project. The results provide objective quantification for accurately evaluating the project delivery time and cost, and facilitate the analysis of the economic return of a project.

Keywords: Time-Cost Trade-Off, Genetic Algorithms, Resource Integration, Economic return.

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9115 A Shift in the Structure of Economy and Synergy of University: Developing Potential through Research and Development Center of SMEs in Jember

Authors: Muhamad Nugraha

Abstract:

Economic growth always correlate positively with the magnitude of the unemployment rate. This is caused by labor which one of important variable to keep growth in the real sector of the region. Meanwhile, the economic structure in districts of Jember showed an increase of economic activity began to shift towards the industrial sector and some other economic sectors, so they have an affects to considerations for policy makers to increase economic growth in Jember as an autonomous region in East Java Province. At the fact, SMEs is among the factors driving economic growth in the region. This is shown by the high amount of SMEs. However, employment in the sector grew slightly slowed. It is caused by a lack of productivity in SMEs. Through the analysis of the transformation of economic structure theory, and the theory of Triple Helix using descriptive analytical method Location Quotient and Shift - Share, found that the results of the economic structure in Jember slowly shifting from the agricultural sector to the industrial sector, because it is dominated by trade sector, hotel and restaurant sector. In addition, SMEs is the potential sector of economic growth in Jember. While to maximizing role and functions of the institution's Research and Development Center of SMEs, there are three points to be known, that are Business Landscape, Business Architecture and Value Added.

Keywords: Economic Growth, SMEs, Labor, Research and Development Center of SMEs.

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9114 Critical Terrain Slope Calculation for Locating Small Hydropower Plants

Authors: C. Vrekos, C. Evagelides, N. Samarinas, G. Arampatzis

Abstract:

As known, the water energy is a renewable and clean source of energy. Energy production from hydropower has been the first, and still is today a renewable source used to generate electricity. The optimal location and sizing of a small hydropower plant is a very important issue in engineering design which encourages investigation. The aim of this paper is to present a formula that can be utilized for locating the position of a small hydropower plant although there is a high dependence on economic, environmental, and social parameters. In this paper, the economic and technical side of the problem is considered. More specifically, there is a critical terrain slope that determines if the plant should be located at the end of the slope or not. Of course, this formula can be used for a first estimate and does not include detailed economic analysis. At the end, a case study is presented for the location of a small hydropower plant in order to demonstrate the validity of the proposed formula.

Keywords: Critical terrain slope, economic analysis, hydropower plant locating, renewable energy.

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9113 Performance and Economic Evaluation of a Hybrid Photovoltaic/Thermal Solar System in Northern China

Authors: E. Sok, Y. Zhuo, S. Wang

Abstract:

A hybrid Photovoltaic/Thermal (PV/T) solar system integrates photovoltaic and solar thermal technologies into one single solar energy device, with dual generation of electricity and heat energy. The aim of the present study is to evaluate the potential for introduction of the PV/T technology into Northern China. For this purpose, outdoor experiments were conducted on a prototype of a PV/T water-heating system. The annual thermal and electrical performances were investigated under the climatic conditions of Beijing. An economic analysis of the system was then carried out, followed by a sensitivity study. The analysis revealed that the hybrid system is not economically attractive with the current market and energy prices. However, considering the continuous commitment of the Chinese government towards policy development in the renewable energy sector, and technological improvements like the increasing cost-effectiveness of PV cells, PV/Thermal technology may become economically viable in the near future.

Keywords: Hybrid Photovoltaic/Thermal (PV/T), Solar energy, Economic analysis

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9112 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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9111 Techno-Economic Analysis of Motor-Generator Pair System and Virtual Synchronous Generator for Providing Inertia of Power System

Authors: Zhou Yingkun, Xu Guorui, Wei Siming, Huang Yongzhang

Abstract:

With the increasing of the penetration of renewable energy in power system, the whole inertia of the power system is declining, which will endanger the frequency stability of the power system. In order to enhance the inertia, virtual synchronous generator (VSG) has been proposed. In addition, the motor-generator pair (MGP) system is proposed to enhance grid inertia. Both of them need additional equipment to provide instantaneous energy, so the economic problem should be considered. In this paper, the basic working principle of MGP system and VSG are introduced firstly. Then, the technical characteristics and economic investment of MGP/VSG are compared by calculation and simulation. The results show that the MGP system can provide same inertia with less cost than VSG.

Keywords: High renewable energy penetration, inertia of power system, virtual synchronous generator, motor-generator pair system, techno-economic analysis.

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