Search results for: economic performance

Authors: Libena Cernohorska, Jan Cernohorsky

Abstract:

This article aims to evaluate the impact of loans provided within the Czech banking sector on the growth of the Czech economy. The article is based on research of current scientific findings in respect to bank loans and economic development. The paper is based on data taken from the Czech Statistical Office on the development of the gross domestic product and data from the Czech National Bank on the development of loans from the period 2004-2015. Links between selected variables are tested using Granger causality tests. The results calculated confirm the hypothesis of the impact of the loans on economic growth, with a six-month delay. The results thus correspond to the standard economic findings and results of most previous studies.

Keywords: Bank, business cycle, economic growth, loans.

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Authors: G. Erkomaishvili

Abstract:

This paper discusses small entrepreneurship development strategy in Georgia and the tools and regulations that will encourage development of small entrepreneurship. The current situation in the small entrepreneurship sector, as well as factors affecting growth and decline in the sector and the priorities of state support, are studied and analyzed. The objective of this research is to assess the current situation of the sector to highlight opportunities and reveal the gaps. State support of small entrepreneurship should become a key priority in the country’s economic policy, as development of the sector will ensure social, economic and political stability. Based on the research, a small entrepreneurship development strategy is presented; corresponding conclusions are made and recommendations are developed.

Keywords: Economic policy for small entrepreneurship development, small entrepreneurship, regulations, small entrepreneurship development strategy.

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Authors: Hideki Igawa, Yoshinori Kitsutaka, Takashi Yokomuro, Hideo Eguchi

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In this study, the crack self-healing performance of the heavyweight concrete used in the walls of containers and structures designed to shield radioactive materials was investigated. A steam curing temperature that preserves self-healing properties and demolding strength was identified. The presented simultaneously mixing method using the expanding material and the fly ash in the process of admixture can maximize the self-curing performance. Also adding synthetic fibers in the heavyweight concrete improved the self-healing performance.

Keywords: Expanding material, heavyweight concrete, self-healing performance, synthetic fiber.

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Authors: Hazlina Hamdan, Fatimah Yusof, Dasimah Omar, Faizul Abdullah, Naasah Nasrudin, Ishak Che Abullah

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In the globalization context and competitiveness, the role of a university is further enhanced. University is no longer confined to traditional roles. Universities need to interact with others in order to be relevant and progressive. Symbiosis relationships between the university and industry are very significant because the relationship between those two can foster economic development of a nation. In a world of fast changing technology and competition, it is necessary for the university to collaborate with industry to combine efforts fostering the diffusion of knowledge, increasing research and development, patenting innovation and commercializing products. It has become increasingly accepted that the necessity of close university-industry interactions as a mean of national economic prosperity. Therefore, this paper is aim to examine the level of linkages in university-industry interactions to which promotes the regional economic growth and development. This paper will explore the formation of linkages between the Higher Education Institution (University Technology MARA) and industries located in the Klang Valley region of Malaysia. It will present the university-industry linkages with emphasis on the type of linkages existed, the benefits of having such linkages to promote regional economic development and finally the constraints that might impede the linkages and potentials to enhance the linkages towards economic growth and development.

Keywords: Industry, Interaction, Linkages, Regional development, University

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Authors: Mohanad Hammad

Abstract:

Port institutions serve as a link connecting the land areas that receive the goods and the areas from where ships sail. These areas hold great significance for the conversion of goods into commodities of economic value, capable of meeting the needs of the society. Development of ports constitutes a fundamental component of the comprehensive economic development process. Recognizing this fact, developing countries have always resorted to this infrastructural element to resolve the numerous problems they face, taking into account its contribution to the reformation of their economic conditions. Iraqi ports have played a major role in boosting the commercial movement in Iraq, as they are the starting point of its oil exports and a key constituent in fulfilling the consumer and production needs of the various economic sectors of Iraq. With the Gulf wars and the economic blockade, Iraqi ports have continued to deteriorate and become unable to perform their functions as first-generation ports, prompting Iraq to use the ports of neighboring countries such as Jordan's Aqaba commercial port. Meanwhile, Iraqi ports face strong competition from the ports of neighboring countries, which have achieved progress and advancement as opposed to the declining performance and efficiency of Iraqi ports. The great developments in the economic conditions of Iraq lay a too great burden on the Iraqi maritime transport and ports, which require development in order to be able to meet the challenges arising from the fierce international and regional competition in the markets. Therefore, it is necessary to find appropriate solutions in support of the role that can be played by Iraqi ports in serving Iraq's foreign trade transported by sea and in keeping up with the development of foreign trade. Thus, this research aims at tackling the current situation of the Iraqi ports and their commercial activity and studying the problems and obstacles they face. The research also studies the future prospects of these ports, the potentials of maritime openness to Iraq under the fierce competition of neighboring ports, and the possibility of enhancing Iraqi ports’ competitiveness. Among the results produced by this research is the future scenario it proposes for Iraqi ports, mainly represented in the establishment of Al-Faw Port, which will contribute to a greater openness of maritime transport in Iraq, and the rehabilitation and expansion of existing ports. This research seeks to develop solutions to Iraq ports so that they can be repositioned as a vital means of promoting economic development.

Keywords: Transport, port, regional openness, development.

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Authors: N. Rugthaicharoencheep, S. Auchariyamet

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Distributed Generation (DG) in the form of renewable power generation systems is currently preferred for clean power generation. It has a significant impact on the distribution systems. This impact may be either positively or negatively depending on the distribution system, distributed generator and load characteristics. In this works, an overview of DG is briefly introduced. The technology of DG is also listed while the technical impacts and economic impacts are explained.

Keywords: Distributed Generation, Technical Impacts, Economic Impacts.

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Authors: Navid Javidtash, Abdolmohamad Davodi, Mojtaba Hakimzadeh, Abdolreza Roozbeh

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Economic dispatch (ED) is considered to be one of the key functions in electric power system operation. This paper presents a new hybrid approach based genetic algorithm (GA) to economic dispatch problems. GA is most commonly used optimizing algorithm predicated on principal of natural evolution. Utilization of chaotic queue with GA generates several neighborhoods of near optimal solutions to keep solution variation. It could avoid the search process from becoming pre-mature. For the objective of chaotic queue generation, utilization of tent equation as opposed to logistic equation results in improvement of iterative speed. The results of the proposed approach were compared in terms of fuel cost, with existing differential evolution and other methods in literature.

Keywords: Economic Dispatch(ED), Optimization, Fuel Cost, Genetic Algorithm (GA).

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Authors: Al Mutawa A. Amir, Liaqat Ali, Faisal Ali

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After the World War II, the world economy was disrupted and changed due to oil and its prices. The research in this paper presents the basic statistical features and economic characteristics of the Gulf economy. The main features of the Gulf economies and its heavy dependence on oil exports, its dualism between modern and traditional sectors and its rapidly increasing affluences are particularly emphasized.  In this context, the research in this paper discussed the problems of growth versus development and has attempted to draw the implications for the future economic development of this area.

Keywords: Oil prices, Gulf Cooperation Council, economic growth, Gulf oil.

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Authors: Siyanda S. Biyela, Willie A. Cronje

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This paper presents a desktop study of comparing two different wave energy to electricity technologies (WECs) using a techno-economic approach. This techno-economic approach forms basis of a framework for rapid comparison of current and future technologies. The approach also seeks to assist in investment and strategic decision making expediting future deployment of wave energy harvesting in South Africa.

Keywords: Cost of energy, tool, wave energy converter, WEC-Sim.

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Authors: G. L. C. Yap

Abstract:

Modelling realized volatility with high-frequency returns is popular as it is an unbiased and efficient estimator of return volatility. A computationally simple model is fitting the logarithms of the realized volatilities with a fractionally integrated long-memory Gaussian process. The Gaussianity assumption simplifies the parameter estimation using the Whittle approximation. Nonetheless, this assumption may not be met in the finite samples and there may be a need to normalize the financial series. Based on the empirical indices S&P500 and DAX, this paper examines the performance of the linear volatility model pre-treated with normalization compared to its existing counterpart. The empirical results show that by including normalization as a pre-treatment procedure, the forecast performance outperforms the existing model in terms of statistical and economic evaluations.

Keywords: Long-memory, Gaussian process, Whittle estimator, normalization, volatility, value-at-risk.

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Authors: Carlos Sanchís-Pedregosa, María del Mar González-Zamora, José A. D. Machuca

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Logistics outsourcing is a growing trend and measuring its performance, a challenge. It must be consistent with the objectives set for logistics outsourcing, but we have found no objective-based performance measurement system. We have conducted a comprehensive review of the specialist literature to cover this gap, which has led us to identify and define these objectives. The outcome is that we have obtained a list of the most relevant objectives and their descriptions. This will enable us to analyse in a future study whether the indicators used for measuring logistics outsourcing performance are consistent with the objectives pursued with the outsourcing. If this is not the case, a proposal will be made for a set of financial and operational indicators to measure performance in logistics outsourcing that take the goals being pursued into account.

Keywords: Outsourcing, Performance measurement, Logistics, Objectives, Indicators

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Authors: H. S. Huang, J. C. Jao, K. L. Yen, C. T. Tsai

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The purpose of this article applies the monthly final energy yield and failure data of 202 PV systems installed in Taiwan to analyze the PV operational performance and system availability. This data is collected by Industrial Technology Research Institute through manual records. Bad data detection and failure data estimation approaches are proposed to guarantee the quality of the received information. The performance ratio value and system availability are then calculated and compared with those of other countries. It is indicated that the average performance ratio of Taiwan-s PV systems is 0.74 and the availability is 95.7%. These results are similar with those of Germany, Switzerland, Italy and Japan.

Keywords: availability, performance ratio, PV system, Taiwan

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Authors: Aziza S. Zhuparova

Abstract:

The innovation performance of nations has been repeatedly measured in the literature. We argue that while the literature offers many suggestions, their theoretical foundation is often weak and the underlying assumptions are rarely discussed. In this paper, we systematize various mechanisms by which spatial units influence nation and firms' innovation activities. On the basis of this, common innovation performance measures and analyses are discussed and evaluated. It is concluded that there is no general best way of measuring the innovation performance of spatial units. In fact, the most interesting insights can be obtained using a multitude of different approaches at the same time.

Keywords: Innovation performance, firms effectiveness of innovation, national innovativeness, innovation effectiveness, national innovation activity's measurement

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Authors: Ching-Feng Chen, Shih-Kai Chen

Abstract:

The Floating Photovoltaic (FPV) system highlights economic benefits and energy performance to carbon dioxide (CO2) discharges. Due to land resource scarcity and many negligent water territories, such as reservoirs, dams, and lakes in Japan and Taiwan, both countries are actively developing FPV and responding to the pricing of the emissions trading systems (ETS). This paper performs a case study through a synthesis approach to compare the economic indicators between the FPVs of Taiwan’s Agongdian Reservoir and Japan’s Yamakura Dam. The research results show that the metrics of the system capacity, installation costs, bank interest rates, and ETS and Electricity Bills affect FPV operating gains. In the post-Feed-In-Tariff (FIT) phase, investing in FPV in Japan is more profitable than in Taiwan. The former’s positive net present value (NPV), eminent internal rate of return (IRR) (11.6%), and benefit-cost ratio (BCR) above 1 (2.0) at the discount rate of 10% indicate that investing the FPV in Japan is more favorable than in Taiwan. In addition, the breakeven point is modest (about 61.3%). The presented methodology in the study helps investors evaluate schemes’ pros and cons and determine whether a decision is beneficial while funding PV or FPV projects.

Keywords: Carbon Border Adjustment Mechanism, Floating Photovoltaic, Emissions Trading Systems, Net Present Value, NPV, Internal Rate of Return, IRR, Benefit-Cost Ratio.

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Authors: Johannes T. Tsoku, Teboho J. Mosikari, Diteboho Xaba, Thatoyaone Modise

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This paper examines the relationship between manufacturing growth and economic growth in South Africa using quarterly data ranging from 2001 to 2014. The paper employed the Johansen cointegration to test the Kaldor’s hypothesis. The Johansen cointegration results revealed that there is a long run relationship between GDP, manufacturing, service and employment. The Granger causality results revealed that there is a unidirectional causality running from manufacturing growth to GDP growth. The overall findings of the study confirm that Kaldor’s first law of growth is applicable in South African economy. Therefore, investment strategies and policies should be alignment towards promoting growth in the manufacturing sector in order to boost the economic growth of South Africa.

Keywords: Cointegration, economic growth, Kaldor’s law, manufacturing growth.

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Authors: M. Si-Ahmed, A. Belakrouf, S. Kenai

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The use of additions in cement in manufacturing, mortar and concrete offers economic and ecological advantages. Cements with additions such as limestone, slag and natural pouzzolana are produced in cement factories in Algeria. Several studies analyzed the effect of these additions on the physical and mechanical properties as well as the durability of concrete. However, few studies were conducted on the effect of local metakaolin on mechanical properties and durability of concrete. The main purpose of this paper is to analyze the performance of mortar and concrete with local metakaolin. The preparation of the metakaolin was carried out by calcination of kaolin at a temperature of 850 °C for a period of 3 hours. The experimental results have shown that the rates of substitutions of 10 and 15% metakaolin increases the compressive strength and flexural strength at both early age and long term. The durability and the permeability were also improved by reducing the coefficient of sorptivity.

Keywords: Metakaolin, calcination, compressive strength, durability.

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Authors: A. Bobirca, A. Draghici

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The objective of this paper is to construct a creativity composite index designed to capture the growing role of creativity in driving economic and social development for the 27 European Union countries. The paper proposes a new approach for the measurement of EU-27 creative potential and for determining its capacity to attract and develop creative human capital. We apply a modified version of the 3T model developed by Richard Florida and Irene Tinagli for constructing a Euro-Creativity Index. The resulting indexes establish a quantitative base for policy makers, supporting their efforts to determine the contribution of creativity to economic development.

Keywords: European Creativity Index, talent, technology, tolerance

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

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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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Authors: Mikulas Patocka

Abstract:

This paper presents an architecture of current filesystem implementations as well as our new filesystem SpadFS and operating system Spad with rewritten VFS layer targeted at high performance I/O applications. The paper presents microbenchmarks and real-world benchmarks of different filesystems on the same kernel as well as benchmarks of the same filesystem on different kernels – enabling the reader to make conclusion how much is the performance of various tasks affected by operating system and how much by physical layout of data on disk. The paper describes our novel features–most notably continuous allocation of directories and cross-file readahead – and shows their impact on performance.

Keywords: Filesystem, operating system, VFS, performance, readahead

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Authors: Sachin Kumar, Michael Pecht

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A study was conducted to formally characterize notebook computer performance under various environmental and usage conditions. Software was developed to collect data from the operating system of the computer. An experiment was conducted to evaluate the performance parameters- variations, trends, and correlations, as well as the extreme value they can attain in various usage and environmental conditions. An automated software script was written to simulate user activity. The variability of each performance parameter was addressed by establishing the empirical relationship between performance parameters. These equations were presented as baseline estimates for performance parameters, which can be used to detect system deviations from normal operation and for prognostic assessment. The effect of environmental factors, including different power sources, ambient temperatures, humidity, and usage, on performance parameters of notebooks was studied.

Keywords: Health monitoring, Electronic prognostics, Reliability, Usage monitoring, Notebook computer.

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Authors: Farhad Namdari, Reza Sedaghati

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Economic dispatch (ED) has been considered to be one of the key functions in electric power system operation which can help to build up effective generating management plans. The practical ED problem has non-smooth cost function with nonlinear constraints which make it difficult to be effectively solved. This paper presents a novel heuristic and efficient optimization approach based on the new Bat algorithm (BA) to solve the practical non-smooth economic dispatch problem. The proposed algorithm easily takes care of different constraints. In addition, two newly introduced modifications method is developed to improve the variety of the bat population when increasing the convergence speed simultaneously. The simulation results obtained by the proposed algorithms are compared with the results obtained using other recently develop methods available in the literature.

Keywords: Non-smooth, economic dispatch, bat-inspired, nonlinear practical constraints, modified bat algorithm.

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Authors: Ali Hajiesmaeili, Mehdi Rahimi, Ehsan Jaberi, Amir Abbas Hosseini

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The purpose of this study is investigating the influences of logistics performance on organizational performance including both marketing & financial aspects, and showing the financial impacts of selecting the right marketing and logistics priorities in line with their supply chain type, and also giving the practitioners an advance identification of their priorities and participation types of supply chain, and the best combination of their strategies and resources in this regard. We made use of the original model’s questionnaire to gather all expert’s data and also SPSS and AMOS Ver.22 to analyze the gathered data. CFA method was also used to test whether a relationship between observed variables and their underlying latent constructs exists. Supply chain strategy implementation leads to logistics performance improvement, and marketing performance will be affected as well. Logistics service providers should focus on enhancement of supply chain performance, since logistics performance has been considered as a basis of evaluation of supply chain management strategy. Consequently, performance of the organization will be enhanced. This case is the first research made in Iran that analyzes the relationship between Logistics & Organizational performance in Home Appliances and Home Entertainment companies.

Keywords: Logistics, organizational performance, supply chain, supply chain strategy.

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Authors: Revaz Gvelesiani

Abstract:

The intrinsic contradictions of entrepreneurship development and self-development strategies complicate the task of reaching compliance between the state economic policy and the company entrepreneurship policy: on the one hand, there is a contradiction between the social and the competitive order within economic order policy and on the other hand, the contradiction exists between entrepreneurship strategy and entrepreneurship culture within entrepreneurship policy.

Keywords: Economic Order Policy, Entrepreneurship, Development Contradictions, Self-Development Contradictions.

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Authors: Shaira Ismail

Abstract:

The empirical studies on High Performance Work Systems (HPWSs) and their impacts on firm performance have remarkably little in the developing countries. This paper reviews literatures on the HPWSs practices in different work settings, Western and Asian countries. A review on the empirical research leads to a conclusion that, country differences influence the Human Resource Management (HRM) practices. It is anticipated that there are similarities and differences in the extent of implementation of HPWSs practices by the Malaysian manufacturing firms due to the organizational contextual factors and, the HPWSs have a significant impact on firms- better performance amongst MNCs and local firms.

Keywords: Firm Performance, High Performance Work Systems (HPWSs), Human Resource Management (HRM), Multinational Corporations (MNCs).

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Authors: Cruz Pascual, Enrique Regidor, Paloma Ortega, David Martínez, Paloma Astasio

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This paper evaluates the association between economic environment in the districts of Madrid (Spain) and physical inactivity, using income per capita as indicator of economic environment. The analysis included 6,601 individuals aged 16 to 74 years. The measure of association estimated was the prevalence odds ratio for physical inactivity by income per capita. After adjusting for sex, age, and individual socioeconomic characteristics, people living in the districts with the lowest per capita income had an odds ratio for physical inactivity 1.58 times higher (95% confidence interval 1.35 to 1.85) than those living in districts with the highest per capita income. Additional adjustment for the availability of sports facilities in each district did not decrease the magnitude of the association. These findings show that the widely believed assumption that the availability of sports and recreational facilities, as a possible explanation for the relation between economic environment and physical inactivity, cannot be considered a universal observation.

Keywords: Economic environment, physical inactivity, sports facilities, districts, Madrid, Spain

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Authors: Ibrahim Cil, Onur Kurtcu, H. Ibrahim Demir, Furkan Yener, Yusuf. S. Turkan, Muharrem Unver, Ramazan Evren

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Fuzzy AHP (Analytic Hierarchy Process) method is decision-making way at the end of integrating the current AHP method with fuzzy structure. In this study, the processes of production planning, inventory management and purchasing department of a system were analysed and were requested to decide the performance criteria of each area. At this point, the current work processes were analysed by various decision-makers and comparing each criteria by giving points according to 1-9 scale were completed. The criteria were listed in order to their weights by using Fuzzy AHP approach and top three performance criteria of each department were determined. After that, the performance criteria of supply chain consisting of three departments were asked to determine. The processes of each department were compared by decision-makers at the point of building the supply chain performance system and getting the performance criteria. According to the results, the criteria of performance system of supply chain by using Fuzzy AHP were determined for which will be used in the supply chain performance system in the future.

Keywords: AHP, fuzzy, performance evaluation, supply chain.

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Authors: Mostafa A. Elshahed, Magdy M. Elmarsfawy, Hussain M. Zain Eldain

Abstract:

In this paper, a Dynamic Economic Dispatch (DED) model is developed for the system consisting of both thermal generators and wind turbines. The inclusion of a significant amount of wind energy into power systems has resulted in additional constraints on DED to accommodate the intermittent nature of the output. The probability of stochastic wind power based on the Weibull probability density function is included in the model as a constraint; A Here-and-Now Approach. The Environmental Protection Agency-s hourly emission target, which gives the maximum emission during the day, is used as a constraint to reduce the atmospheric pollution. A 69-bus test system with non-smooth cost function is used to illustrate the effectiveness of the proposed model compared with static economic dispatch model with including the wind power.

Keywords: Dynamic Economic Dispatch, StochasticOptimization, Weibull Distribution, Wind Power

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Authors: V. Vassiliou, M. Charalambides, M. Menicou

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Fish-feed is a major cost component of operating expenses for any aquaculture farm. Due to soaring prices of fish-feed ingredients, the need for better feeding schedule management has become imperative. On such factor that influences the utilization rate of fish-feed are sea currents. Up to now, practical monitoring of fishfeed loss due to sea currents is not exercised. This paper gives a description of an economic methodology that aims at quantifying the amount of fish-feed lost due to sea currents and draws on data from a Mediterranean aquaculture farm to formulate the associated model.

Keywords: Aquaculture, economic model, fish-feed loss, sea currents.

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Authors: Lisa J. Piergallini

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This project uses panel regression analyses to investigate the relationships between geography, institutions, and economic development, as guided by the theories of the 18^th century French philosopher Montesquieu. Contemporary scholars of political economy perpetually misinterpret Montesquieu’s theories on climate, and in doing so they miss what could be the key to resolving the geography vs. institutions debate. There is a conspicuous gap in this literature, in that it does not consider whether geography and institutors might have an interactive, dynamic effect on economic development. This project seeks to bridge that gap. Data are used for all available countries over the years 1980-2013. Two interaction terms between geographic and institutional variables are employed within the empirical analyses, and these offer a unique contribution to the ongoing geography vs. institutions debate within the political economy literature. This study finds that there is indeed an interactive effect between geography and institutions, and that this interaction has a statistically significant effect on economic development. Democracy (as measured by Polity score) and rule of law and property rights (as measured by the Fraser index) have positive effects on economic development (as measured by GDP per capita), yet the magnitude of these effects are stronger in contexts where a low percent of the national population lives in the geographical tropics. This has implications for promoting economic development, and it highlights the importance of understanding geographical context.

Keywords: Montesquieu, geography, institutions, economic development, political philosophy, political economy.

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