Search results for: economic efficiency

Authors: Yanshuang Zhang, Byungho Jeong

Abstract:

In many cases, there are some time lag between the consumption of inputs and the production of outputs. This time lag effect should be considered in evaluating the performance of organizations. Recently, a couple of DEA models were developed for considering time lag effect in efficiency evaluation of research activities. Multi-periods input(MpI) and Multi-periods output(MpO) models are integrate models to calculate simple efficiency considering time lag effect. However, these models can’t discriminate efficient DMUs because of the nature of basic DEA model in which efficiency scores are limited to ‘1’. That is, efficient DMUs can’t be discriminated because their efficiency scores are same. Thus, this paper suggests a super-efficiency model for efficiency evaluation under the consideration of time lag effect based on the MpO model. A case example using a long term research project is given to compare the suggested model with the MpO model.

Keywords: DEA, Super-efficiency, Time Lag.

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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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Authors: Peter Yang

Abstract:

Green incentives are included in the “American Recovery and Reinvestment Act of 2009" (ARRA). It is, however, unclear how these government incentives can be carried out most effectively according to market-based principles and if they can serve as a catalyst for an accelerated green transformation and an ultimate solution to the current U.S. and global economic and financial crisis. The article will compare the existing U.S. green economic policies with those in Germany, identify problems, and suggest improvements to allow the green stimulus incentives to achieve the best results in the process of an accelerated green transformation. The author argues that the current U.S. green stimulus incentives can only be most successful if they are carried out as part of a visionary, comprehensive, long-term, and consistent strategy of the green economic transformation.

Keywords: Green incentives, financial crisis, green economy, renewable energy sources, energy efficiency.

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Authors: N. C. Shahi, Anupama Singh, A. E. Kate

Abstract:

There was a scenario present day that drying of fresh fruits and vegetables by indirect solar drying by using mechanical device; hence, an effort was made to develop a small scale solar tunnel dryer (STD). Drying of spinach is carried out to analyze the performance of the dryer and to study its drying characteristics. To evaluate the performance of dryer the independent variables were selected as air flow rate, loading density and shade net while collector efficiency, drying efficiency, overall efficiency and specific energy consumption were selected as responses during performing the experiments. The spinach was dried from initial moisture content 88.21-94.04% (w.b.) to final moisture content 3.50-5.13% (w.b.). The drying time considerably reduced as compared to open sun drying of spinach as sun drying took 15 h for drying. The average collector efficiency, drying efficiency and overall efficiency were in the range 28.73-61.15%, 11.63% to 22.13%, and 7.61-14.66%, respectively.

Keywords: Solar dryer, collector efficiency, drying efficiency, spinach.

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Authors: Barenten Suciu, Akio Miyamura

Abstract:

In this paper, following the study-case of an inclined plane gravitational machine, efficiency of a double-cone gravitational motor and generator is evaluated. Two types of efficiency ratios, called translational efficiency and rotational efficiency, are defined relative to the intended duty of the gravitational machine, which can be either the production of translational kinetic energy, or rotational kinetic energy. One proved that, for pure rolling movement of the double- cone, in the absence of rolling friction, the total mechanical energy is conserved. In such circumstances, as the motion of the double-cone progresses along rails, the translational efficiency decreases and the rotational efficiency increases, in such way that sum of the rotational and translational efficiencies remains unchanged and equal to 1. Results obtained allow a comparison of the gravitational machine with other types of motor-generators, in terms of the achievable efficiency.

Keywords: Truncated double-cone, friction, rolling and sliding, efficiency, gravitational motor and generator.

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Authors: Hsiao-Tien Pao, Yi-Ying Li, Hsin-Chia Fu

Abstract:

This paper addressed the impacts of energy consumption, economic growth, financial development, and population size on environmental degradation using grey relational analysis (GRA) for China, where foreign direct investment (FDI) inflows is the proxy variable for financial development. The more recent historical data during the period 2004–2011 are used, because the use of very old data for data analysis may not be suitable for rapidly developing countries. The results of the GRA indicate that the linkage effects of energy consumption–emissions and GDP–emissions are ranked first and second, respectively. These reveal that energy consumption and economic growth are strongly correlated with emissions. Higher economic growth requires more energy consumption and increasing environmental pollution. Likewise, more efficient energy use needs a higher level of economic development. Therefore, policies to improve energy efficiency and create a low-carbon economy can reduce emissions without hurting economic growth. The finding of FDI–emissions linkage is ranked third. This indicates that China do not apply weak environmental regulations to attract inward FDI. Furthermore, China’s government in attracting inward FDI should strengthen environmental policy. The finding of population–emissions linkage effect is ranked fourth, implying that population size does not directly affect CO₂ emissions, even though China has the world’s largest population, and Chinese people are very economical use of energy-related products. Overall, the energy conservation, improving efficiency, managing demand, and financial development, which aim at curtailing waste of energy, reducing both energy consumption and emissions, and without loss of the country’s competitiveness, can be adopted for developing economies. The GRA is one of the best way to use a lower data to build a dynamic analysis model.

Keywords: Grey relational analysis, foreign direct investment, CO2 emissions, China.

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Authors: Lina Sinevičienė

Abstract:

Arising problems of countries’ public finances, social and demographic changes motivate scientific and policy debates on public spending size, structure and efficiency in order to meet the changing needs of society and business. The concept of sustainable development poses new challenges for scientists and policy-makers in the field of public finance. This paper focuses on the investigation of the relationship between government expenditure and country’s economic development in the context of sustainable development. Empirical analysis focuses on the data of the European Union (except Croatia and Luxemburg) countries. The study covers 2003 – 2012 years, using annual cross-sectional data. Summarizing the research results, it can be stated that governments should pay more attention to the needs that ensure sustainable development in the long-run when formulating public expenditure policy, particularly in the field of environment protection.

Keywords: Economic development, economic growth, government expenditure, sustainable development.

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Authors: R. M. R. Hussein

Abstract:

Climate change is one of the greatest environmental, economic, and social challenges of our time. Urban transportation has had a major negative impact on our environment—most of our air pollution comes from transport. This paper explores ways to move toward a more sustainable transport system by focusing on creating a more efficient and livable city and improving the environmental efficiency of transport activity. The analytical study covers some international examples of applying sustainable transportation and uses them to suggest a frame work to develop the transportation system in Egypt to be sustainable and more intelligent.

Keywords: Eco-efficiency, electric vehicle, liveable city, sustainable transportation.

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Authors: Ugur Karakaya, Hasan Bulent Kantarcı

Abstract:

In this study, firstly democratic thoughts which directly or indirectly affect economic development and/or the interaction between authoritarian regimes and the economic development and the direction and channels of this interaction were studied and then the study tried to determine how democracy affects economic development. It was concluded that the positive contributions of democracy to economic development were more determinant than the effects that were either negative or restrictive in terms of development. When compared to autocracy, since democracy is more successful in managing social conflicts, ensuring political stability and preventing social disasters such as famine, it contributes more to economic development. Democracy also facilitates delegation of authority, provides a stable investment environment and accelerates mobilization of resources in accordance with economic growth/development. Democracy leads to an increase in human capital accumulation and increases the growth rate through reducing income inequality. It can be said that democratic regimes are the most appropriate ones in terms of increasing economic performance and supporting economic development through their strong institutional structures and the assurance they will ensure in property rights.

Keywords: Autocratic Regime, Democracy, Economic Development, Economic Freedom.

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Authors: Ahmet Ay, Hakan Acet, Ceyhun Can Özcan

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Economic freedoms, most emphasized issue in the recent years, are considered to affect economic growth and performance via institutional structure. In this context, a model that includes Turkey and Middle East Countries, and where the effects of economic freedom on growth are examined, was formed. For the groups of countries determined, in the study carried out by using the dataset belonging the period of 2004 - 2009, between economic freedoms and growth, a negative relationship was observed as group. In the sense of individual effects, it was identified that there was a positive relationship in terms of some Middle East Countries and Turkey.

Keywords: Economic Freedoms, Economic Growth, Freedoms.

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Authors: Zh.Mingaleva, K.Balkova

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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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Authors: A. Y. Dutse, S. I. Ningi

Abstract:

The adoption and diffusion of Information Technology (IT) is one of the fastest growing trends in organizations operating within Nigeria’s economy. Public and private organizations make huge capital investments in an attempt acquire and adopt the state-of-the-art IT for improving operational efficiency. In this study the level of IT adoption is considered the primary driver of efficiency witnessed by organizations. The research gathered data on the intensity of IT usage, and resultant efficiency increase in the organizations’ operations. The data was analyzed using multiple regression analysis and reveals that high level of IT usage has enhance efficiency of private and public organizations in Northern part of Nigeria with organizations having strategic intent on IT adoption indicating higher efficiency gains.

Keywords: IT Adoption, Nigeria, Organizational efficiency.

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Authors: Jan Ceselsky

Abstract:

Construction and reconstruction of settlements and individual municipalities, environmental management and the creation, deployment of the forces of production and building transport and technical equipment requires a large expenditure of material and human resources. That is why the economic aspects of the majority decision in these planes built in the foreground and are often decisive. Thereby but more serious is that the economic aspects of the settlement, the creation and function remain in their whole, unprocessed, and cannot speak of a set of individual techniques and methods traditional indicators and experiments with new approaches. This is true both at the level of the national economy, and in their own urban designs. Still a few remain identified specific economic shaping patterns of settlement and the less it is possible to speak of their control. Also practical assessing economics of specific solutions are often used non-apt indicators in addition to economics usually identifies with the lowest acquisition cost or high-intensity land use with little regard for functional efficiency and little studied much higher operating and maintenance costs".

Keywords: Investment, municipal engineering, value for money.

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Authors: Rosita Suhaimi, Firdaus Abdullah, Chong Fen Nee, Nurhani Aba Ibrahim

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This paper attempts to identify the significance of Information and Communications Technology (ICT) and competitiveness to the profit efficiency of commercial banks in Malaysia. The profit efficiency of commercial banks in Malaysia, the dependent variable, was estimated using the Stochastic Frontier Approach (SFA) on a sample of unbalanced panel data, covering 23 commercial banks, between 1995 to 2007. Based on the empirical results, ICT was not found to exert a significant impact on profit efficiency, whereas competitiveness, non ICT stock expenditure and ownership were significant contributors. On the other hand, the size of banks was found to have significantly reduced profit efficiency, opening up for various interpretations of the interrelated role of ICT and competition.

Keywords: Competitiveness, Profit Efficiency, Stochastic Frontier Analysis

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Authors: H. Fallah, Z. Naddaf Baghdadabadi

Abstract:

Planning of economic activities development has various dimensions one of which determines adequate capacity of economic activities in provinces regarding the government-s goals. Paralleling planning goals of economic activities development including subjects being focused on the view statement is effective to better realize the statement's goals. Current paper presents a native framework for economic activities development in provincial level. Triple steps within the framework are concordant with the view statement-s goals achievement. At first step of the proposed framework, economic activities are being prioritized in terms of employment indices, and secondly economic activities regarding to the province's relative advantages are being recognized. In the third step, desirable capacity of economic activities is determined with regards to the government's goals and effective constraints in economic activities development. Development of economic activities related to the provinces- relative advantages, contributes on regional balance and on equal development of economic activities. Furthermore, results of the framework enable more confident investment, affect employment development and remove unemployment concern as the main goals of the view statement.

Keywords: Development, economic activity, regional planning, view statement.

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

Abstract:

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

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

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Authors: Charles Mbohwa, Alexander Mudiwakure

Abstract:

This paper reviews designs of the built environment from a sustainability perspective, emphasizing their importance in achieving ecological and sustainable economic objectives. The built environment has traditionally resulted in loss of biodiversity, extinction of some species, climate change, excessive water use, land degradation, space depletion, waste accumulation, energy consumption and environmental pollution. Materials used like plastics, metals, bricks, concrete, cement, natural aggregates, glass and plaster have wreaked havoc on the earth´s resources, since they have high levels of embodied energy hence not sustainable. Additional resources are consumed during use and disposal phases. Proposed designs for sustainability solutions include: ecological sanitation and eco-efficiency systems that ensure social, economic, environmental and technical sustainability. Renewable materials and energy systems, passive cooling and heating systems and material and energy reduction, reuse and recycling can improve the sector. These ideas are intended to inform the field of ecological design of the built environment.

Keywords: Ecological and sustainability designs, environmental degradation, ecological sanitation, energy use efficiency.

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Authors: B. Zvirbule, I. Vilka

Abstract:

The Baltic States regained independence and started the pathway from command economy to market economy and entered European Union at the same time. Latter internationally recognized evaluations for the countries are diverse. The present diversity of the Baltic States -Economic Development is a subject of interest because of the similarities – all three are small, open economies, countries have similar geographic location and initially likewise historical and political backgrounds. This article explains relationship between social environment, business environment and economic growth. It argues that the elements of social environment underlie more successful economic development. It researches the causes, why Estonia has performed better in economic outcomes and development. The article analyses selection of socio-economic indicators of all three Baltic States – Latvia, Lithuania and Estonia for the time period of ten years to include the influence of economic cycles.

Keywords: Baltic States, economic development, economic growth, level of education, social environment.

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

Abstract:

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: Chao Yuan, Bao Guang Tian

Abstract:

A relative efficiency is defined as Ridge Estimate in the general linear model. The relative efficiency is based on the Mean square error. In this paper, we put forward a parameter of Ridge Estimate and discussions are made on the relative efficiency between the ridge estimation and the General Ridge Estimate. Eventually, this paper proves that the estimation is better than the general ridge estimate, which is based on the MSE.

Keywords: Ridge estimate, generalized ridge estimate, MSE, relative efficiency.

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Authors: S. H. Iranmanesh, L. Aliabadi, A. Mollajan

Abstract:

Integrated resilience engineering (IRE) is capable of returning banking systems to the normal state in extensive economic circumstances. In this study, information system of a large bank (with several branches) is assessed and optimized under severe economic conditions. Data envelopment analysis (DEA) models are employed to achieve the objective of this study. Nine IRE factors are considered to be the outputs, and a dummy variable is defined as the input of the DEA models. A standard questionnaire is designed and distributed among executive managers to be considered as the decision-making units (DMUs). Reliability and validity of the questionnaire is examined based on Cronbach's alpha and t-test. The most appropriate DEA model is determined based on average efficiency and normality test. It is shown that the proposed integrated design provides higher efficiency than the conventional RE design. Results of sensitivity and perturbation analysis indicate that self-organization, fault tolerance, and reporting culture respectively compose about 50 percent of total weight.

Keywords: Banking system, data envelopment analysis, DEA, integrated resilience engineering, IRE, performance evaluation, perturbation analysis.

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Authors: Esther T. Akinlabi, Rasheedat M. Mahamood, Mukul Shukla, Sisa. Pityana

Abstract:

The study of effect of laser scanning speed on material efficiency in Ti6Al4V application is very important because unspent powder is not reusable because of high temperature oxygen pick-up and contamination. This study carried out an extensive study on the effect of scanning speed on material efficiency by varying the speed between 0.01 to 0.1m/sec. The samples are wire brushed and cleaned with acetone after each deposition to remove un-melted particles from the surface of the deposit. The substrate is weighed before and after deposition. A formula was developed to calculate the material efficiency and the scanning speed was compared with the powder efficiency obtained. The results are presented and discussed. The study revealed that the optimum scanning speed exists for this study at 0.01m/sec, above and below which the powder efficiency will drop

Keywords: Additive Manufacturing, Laser Metal Deposition Process, Material efficiency, Processing Parameter, Titanium alloy.

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Authors: Nan Chen, Baoguang Tian

Abstract:

In this paper, some relative efficiency have been discussed, including the LSE estimate with respect to BLUE in curve model. Four new kinds of relative efficiency have defined, and their upper bounds have been discussed.

Keywords: Relative efficiency, LSE estimate, BLUE estimate, Upper bound, Curve model.

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Authors: Ming-Tang Tsai, Chih-Wei Yen

Abstract:

In this paper, an Interactive Compromise Approach with Particle Swarm Optimization(ICA-PSO) is presented to solve the Economic Emission Dispatch(EED) problem. The cost function and emission function are modeled as the nonsmooth functions, respectively. The bi-objective including both the minimization of cost and emission is formulated in this paper. ICA-PSO is proposed to solve EED problem for finding a better compromise solution. The solution methodology can offer a global or near-global solution for decision-making requirements. The effectiveness and efficiency of ICA-PSO are demonstrated by a sample test system. Test results can be shown that the proposed method provide a practical and flexible framework for power dispatch.

Keywords: Interactive Compromise Approach, Emission Control, Economic Dispatch, Particle Swarm Optimization.

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Authors: Eman. K. Ramadan, Abdelgawad. S. El-Tahawy

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The objective of this study was to evaluate the effects of calving season on the production and economic efficiency of dairy farms in Egypt. Our study was performed at dairy production farms in the Alexandria, Behera, and Kafr El-Sheikh provinces of Egypt from summer 2010 to winter 2013. The randomly selected dairy farms had herds consisting of Baladi, Holstein-Friesian, or cross-bred (Baladi × Holstein-Friesian) cows. The data were collected from production records and responses to a structured questionnaire. The average total return differed significantly (P < 0.05) between the different cattle breeds and calving seasons. The average total return was highest for the Holstein- Friesian cows that calved in the winter (29106.42 EGP/cow/year), and it was lowest for Baladi cows that calved in the summer (12489.79 EGP/cow/year). Differences in total returns between the cows that calved in the winter or summer or between the foreign and native breeds, as well as variations in calf prices, might have contributed to the differences in milk yield. The average net profit per cow differed significantly (P < 0.05) between the cattle breeds and calving seasons. The average net profit values for the Baladi cows that calved in the winter or summer were 2413 and 2994.96 EGP/cow/year, respectively, and those for the Holstein- Friesian cows were 10744.17 and 7860.56 EGP/cow/year, respectively, whereas those for the cross-bred cows were 10174.86 and 7571.33 EGP/cow/year, respectively. The variations in net profit might have resulted from variation in the availability or price of feed materials, milk prices, or sales volumes. Our results show that the breed and calving season of dairy cows significantly affected the economic efficiency of dairy farms in Egypt. The cows that calved in the winter produced more milk than those that calved in the summer, which may have been the result of seasonal influences, such as temperature, humidity, management practices, and the type of feed or green fodder available.

Keywords:

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Authors: Amna Javed, Hisashi Masuda, Youji Kohda

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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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Authors: A. Soikkeli, L. Sorri

Abstract:

Finnish national research project, User- and Business-oriented Suburb Renovation Concept (KLIKK), was started in January 2012 and will end in June 2014. The perspective of energy efficiency is emphasised in the project, but also it addresses what improving the energy efficiency of suburban apartment buildings means from the standpoint of architecturally valuable buildings representing different periods. The project will also test the impacts of stricter energy efficiency requirements on renovation projects.

The primary goal of the project is to develop a user-oriented, industrial, economic renovation concept for suburban apartment building renovation, extension and construction of additional storeys. The concept will make it possible to change from performance- and cost-based operation to novel service- and user-oriented, site-specifically tailored renovation methods utilizing integrated order and delivery chains.

The present project is collaborating with Ministry of the Environment and participating cities in developing a new type of lighter town planning model for suburban renovations and in-fill construction. To support this, the project will simultaneously develop practices for environmental impact assessment tools in renovation and suburban supplementary and in-fill construction.

 

Keywords: Energy efficiency, Prefabrication, Renovation concept, Suburbs, Sustainability, User-Orientated.

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Authors: Hussain Ali Bekhet, Nor Salwati Othman

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Malaysia has achieved remarkable economic growth since 1957, moving toward modernization from a predominantly agriculture base to manufacturing and—now—modern services. The development policies (i.e., New Economic Policy [1970–1990], the National Development Policy [1990–2000], and Vision 2020) have been recognized as the most important drivers of this transformation. The transformation of the economic structure has moved along with rapid gross domestic product (GDP) growth, urbanization growth, and greater demand for energy from mainly fossil fuel resources, which in turn, increase CO2 emissions. Malaysia faced a great challenge to bring down the CO2 emissions without compromising economic development. Solid policies and a strategy to reduce dependencies on fossil fuel resources and reduce CO2 emissions are needed in order to achieve sustainable development. This study provides an overview of the Malaysian economic, energy, and environmental situation, and explores the existing policies and strategies related to energy and the environment. The significance is to grasp a clear picture on what types of policies and strategies Malaysia has in hand. In the future, this examination should be extended by drawing a comparison with other developed countries and highlighting several options for sustainable development.

Keywords: Energy policies, energy efficiency, renewable energy, green building, Malaysia, sustainable development.

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Authors: Chiung-Ju Huang

Abstract:

This study utilizes the panel vector error correction model (PVECM) to examine the relationship among corruption, economic growth, and income inequality experienced within ten Asian countries over the 1995 to 2010 period. According to the empirical results, we do not support the common perception that corruption decreases economic growth. On the contrary, we found that corruption increases economic growth. Meanwhile, an increase in economic growth will cause an increase in income inequality, although the effect is insignificant. Similarly, an increase in income inequality will cause an increase in economic growth but a decrease in corruption, although the effect is also insignificant.

Keywords: Corruption, economic growth, income inequality, panel vector error correction model

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Authors: Andra Costache, Gica Pehoiu

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As in other countries from Central and Eastern Europe, the economic restructuring occurred in the last decade of the twentieth century affected the mining industry in Romania, an oversize and heavily subsidized sector before 1989. After more than a decade since the beginning of mining restructuring, an evaluation of current social implications of the process it is required, together with an efficiency analysis of the adaptation mechanisms developed at governmental level. This article aims to provide an insight into these issues through case studies conducted in the most important coal basin of Romania, Petroşani Depression.

Keywords: case studies, government programs, miningrestructuring, social effects.

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