Trust within Brazilian New Economy Organizations: an Empirical Investigation of Gender Effects Benchmarked on Brazilian Old Economy Organizations

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Marco Tulio Zanini

2009-07-01

Full Text Available It has been suggested that one of the negative aspects of the New Economy has been growing organizational survival-risk both at the firm and the sector levels. This precarious positioning of the firm has profoundly changed the work environment resulting in the dissolution of job-definition-boundaries, thereby raising the intensity of work and finally affecting the level and nature of trust in the workplace. This is the starting point for our study. Using a questionnaire developed by Gillespie, we investigated gender profiles concerning trust in Supervisors, Peers, and Team in the New and the Old Economies for Brazilian managers. The results show that, for the New Economy, Brazilian women are more willing to give trust to Supervisors whereas Brazilian men expressed higher levels of trust when dealing with Team members. The Peer results are mixed. For the Old Economy, men uniformly express higher levels of trust compared to women over all three reference groups. Finally, for gender matched comparisons, those working in the Brazilian Old Economy firms express higher levels of trust compared to their counterparts in the New Economy independent of gender or time worked. We conclude by discussing the control implications of the above results.

An empirical study on the spatial distribution of the population, economy and water resources in Northeast China

Science.gov (United States)

Zhang, Conglin; Liu, Yu; Qiao, Haijuan

The relationship among the population, economy and water resources is complex, and the contradictions and conflicts will appear and aggravate with the rapid development of economy and society in Northeast China. Based on the statistical analysis of the available data, this paper depicted the static distribution characteristics of the population, economy and water resources of Northeast China in 2011. It was found that the spatial distribution of the population, economy and water resources was unbalanced in Northeast China. The water resources mismatched with the population and economy. The population and economy were relatively dense and developed in the southwestern part of Northeast China respectively, while the water resources was relatively scarce. However, the situations in the northern part of Northeast China were opposite to those in the southwestern part. The population-economy inconsistence indexes of the cities in northern part of Northeast China showed a significant trend of spatial aggregation and heterogeneity. The cities with lower (1) inconsistence indexes all faced the problem of water resources shortage. Applying geometric gravity center method and grey correlation model, the result indicated that there was relatively high spatial relevance and the relative deviation among the spatial dynamic distributions of the population, economy and water resources was large. The gravity centers of economy and per capita average annual total water resources moved westward, while the gravity center of population gravity center moved eastward in the period of 1997-2011 in Northeast China. It must be noted that, the migration trend of the economy gravity center was more significant than those of the population and water resources.

The challenges of Belgian prostitution markets as legal informal economies: an empirical look behind the scenes at the oldest profession in the world

OpenAIRE

Boels, Dominique

2015-01-01

An extensive body of literature exists on sex work and prostitution, covering a variety of topics. The relation between prostitution and the informal economy, however, has not been widely studied. This article aims to contribute to this under-researched domain. Furthermore, it empirically contributes to the current topical policy debate on prostitution by offering insights into the perceptions of prostitutes and other stakeholders in the prostitution business and policy towards it in Ghent, B...

Unraveling the Shift to the Entrepreneurial Economy

NARCIS (Netherlands)

D.B. Audretsch (David); A.R. Thurik (Roy)

2010-01-01

textabstractA recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence

Disruption in Banking in Emerging Market Economy: An Empirical Study of India

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Reena Agrawal

2017-12-01

Full Text Available The present study was taken up to capture the ongoing disruptions in banking in the Indian economy. The objective of this research was to: (1 study the initiatives taken by Reserve Bank of India to stimulate the payment market, (2 explore the disruptions in the Indian payment space, (3 examine the digitization at banks in India and (4 identify the challenges faced by traditional Indian banks and (5 propose measures to cope with threats posed by non-bank players. The study found that as technology companies and other non-bank players have successfully penetrated into large customer segments by offering basic banking services, to the customers at their doorsteps and at their convenience; it is obligatory for the traditional banks to expand market outreach and enrich service quality via digital podia, strategic alliances and disruptive innovations, in case they wish to avoid the risk of being relegated to back-office utilities.

Inter-firm Networks, Organizational Learning and Knowledge Updating: An Empirical Study

Science.gov (United States)

Zhang, Su-rong; Wang, Wen-ping

In the era of knowledge-based economy which information technology develops rapidly, the rate of knowledge updating has become a critical factor for enterprises to gaining competitive advantage .We build an interactional theoretical model among inter-firm networks, organizational learning and knowledge updating thereby and demonstrate it with empirical study at last. The result shows that inter-firm networks and organizational learning is the source of knowledge updating.

Estimating unbiased economies of scale of HIV prevention projects: a case study of Avahan.

Science.gov (United States)

Lépine, Aurélia; Vassall, Anna; Chandrashekar, Sudha; Blanc, Elodie; Le Nestour, Alexis

2015-04-01

Governments and donors are investing considerable resources on HIV prevention in order to scale up these services rapidly. Given the current economic climate, providers of HIV prevention services increasingly need to demonstrate that these investments offer good 'value for money'. One of the primary routes to achieve efficiency is to take advantage of economies of scale (a reduction in the average cost of a health service as provision scales-up), yet empirical evidence on economies of scale is scarce. Methodologically, the estimation of economies of scale is hampered by several statistical issues preventing causal inference and thus making the estimation of economies of scale complex. In order to estimate unbiased economies of scale when scaling up HIV prevention services, we apply our analysis to one of the few HIV prevention programmes globally delivered at a large scale: the Indian Avahan initiative. We costed the project by collecting data from the 138 Avahan NGOs and the supporting partners in the first four years of its scale-up, between 2004 and 2007. We develop a parsimonious empirical model and apply a system Generalized Method of Moments (GMM) and fixed-effects Instrumental Variable (IV) estimators to estimate unbiased economies of scale. At the programme level, we find that, after controlling for the endogeneity of scale, the scale-up of Avahan has generated high economies of scale. Our findings suggest that average cost reductions per person reached are achievable when scaling-up HIV prevention in low and middle income countries. Copyright © 2015 Elsevier Ltd. All rights reserved.

The Placenta Economy

DEFF Research Database (Denmark)

Kroløkke, Charlotte; Dickinson, Elizabeth; Foss, Karen A.

2018-01-01

This article examines the human placenta not only as a scientific, medical and biological entity but as a consumer bio-product. In the emergent placenta economy, the human placenta is exchanged and gains potentiality as food, medicine and cosmetics. Drawing on empirical research from the United......, in the emergent bio-economy, the dichotomy between the inner and the outer body is deconstructed, while the placenta gains clinical and industrial as well as affective value....

Social Economy: Challenges and Opportunities

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Ioan HOSU

2012-06-01

Full Text Available The present article addresses a topic of interest for both the public sector and the nonprofit sector, namely that of the innovative practices of social economy. Diverse practices and models of social economy are increasingly present in the Romanian community, this being the reason why it is important to study the major coordinates of social economy and social entrepreneurship identified by means of an empirical research done in Romania. Social economy is considered one of the most important innovative strategy approaches as this sector may contribute to some efforts done for the elimination of poverty and the re-launching of local economies. The integration of the identified elements in regional programs and public policies is the starting point of the strategic approaches regarding reform in public administration. Social economy can be an example of joint action for public and private organizations and institutions interested in carrying out community projects based on inclusive, participative and innovative forms of community development.

An empirical study to determine the critical success factors of export industry

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Masoud Babakhani

2011-01-01

Full Text Available Exporting goods and services play an important role on economy of developing countries. There are many countries in the world whose economy is solely based on exporting raw materials such as oil and gas. Many believe that countries cannot develop their economy as long as they rely on exporting one single group of raw materials. Therefore, there is a need to help other sectors of industries build good infrastructure for exporting diversified products. In this paper, we perform an empirical analysis to determine the critical success factors on exporting different goods. The results are analyzed using some statistical non-parametric methods and some useful guidelines are also suggested.

Real exchange rates and transition economies

NARCIS (Netherlands)

Boero, G.; Mavromatis, K.; Taylor, M.P.

2015-01-01

In a number of empirical studies, transition economies have been shown to be subject to the Harrod-Balassa-Samuelson effect. This implies that the currencies of these countries have experienced a prolonged appreciation in real terms as their convergence proceeded. In this paper we find that a

The knowledge-based economy modeled, measured, simulated

CERN Document Server

Leydesdorff, Loet

2006-01-01

"Challenging, theoretically rich yet anchored in detailed empirical analysis, Loet Leydesdorff's exploration of the dynamics of the knowledge-economy is a major contribution to the field. Drawing on his expertise in science and technology studies, systems theory, and his internationally respected work on the 'triple helix', the book provides a radically new modelling and simulation of knowledge systems, capturing the articulation of structure, communication, and agency therein. This work will be of immense interest to both theorists of the knowledge-economy and practitioners in science policy." Andrew Webster Science & Technology Studies, University of York, UK

Political Economy: Success or Failure?

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Bruno S. Frey

2012-09-01

Full Text Available The Political Economy and Public Choice approaches have promoted the study of interactions between the economy and the polity for over 60 years now. The present paper endeavours to provide a critical discussion of this literature and its achievements. In particular, it begins with the different approaches based on empirically tested or politometric models and it then proceeds to discuss different studies of the effects that particular rules of the game have on politico-economic outcomes. The third section of the paper will address studies that take institutions to be endogenous and aims to explain why particular institutions emerge. Finally, the question of whether Political Economy has been a success or a failure will be tackled. While the success in terms of the position it has gained in economic research and teaching is undeniable, a look at one of the most thriving recent areas of economics, happiness research, will reveal that some of its fundamental lessons are all too often disregarded.

Market study for direct utilization of geothermal resources by selected sectors of economy

Energy Technology Data Exchange (ETDEWEB)

1980-08-01

A comprehensive analysis is presented of industrial markets potential for direct use of geothermal energy by a total of six industry sectors: food and kindred products; tobacco manufactures; textile mill products; lumber and wood products (except furniture); chemicals and allied products; and leather and leather products. A brief statement is presented regarding sectors of the economy and major manufacturing processes which can readily utilize direct geothermal energy. Previous studies on plant location determinants are summarized and appropriate empirical data provided on plant locations. Location determinants and potential for direct use of geothermal resources are presented. The data was gathered through interviews with 30 senior executives in the six sectors of economy selected for study. Probable locations of plants in geothermal resource areas and recommendations for geothermal resource marketing are presented. Appendix A presents factors which impact on industry location decisions. Appendix B presents industry executives interviewed during the course of this study. (MHR)

eHRM adoption in emerging economies: The case of subsidiaries of multinational corporations in Indonesia.

NARCIS (Netherlands)

Bondarouk, Tatiana; Schilling, Dustin; Ruel, Hubertus Johannes Maria

2016-01-01

Electronic HRM (eHRM) is assumed to strengthen the position of HRM as a business partner by promising strategic benefits. Empirical support for this assumption, however, mostly comes from studies conducted in developed economies. Yet eHRM adoption in the emerging economy context remains poorly

The Political Economy of Energy Innovation

OpenAIRE

Dasgupta, Shouro; De Cian, Enrica; Verdolini, Elena

2017-01-01

This paper empirically investigates the effects of environmental policy, institutions, political orientation, and lobbying on energy innovation and finds that they significantly affect the incentives to innovate and create cleaner energy efficient technologies. We conclude that political economy factors may act as barriers even in the presence of stringent environmental policy, implying that, to move towards a greener economy, countries should combine environmental policy with a general stren...

Measuring the informal economy in South Africa

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S Saunders

2015-01-01

Full Text Available Measuring the size of the South African informal economy has received inadequate attention, making it difficult for policy-makers to assess the impact of policy measures to stimulate informal economic activity. This article aims to estimate the size of the informal economy by using the Currency Demand Approach.  The empirical results reveal that the informal economy as a percentage of GDP decreased from 1967 to 1993, before levelling off.  The growth in the informal econmy has also underperformed in comparison to formal economic growth. There appears to be a causal relationship running from the informal to the formal economy. Macro-economic policies aimed at the formal economy will not necessarily 'trickle down' to the informal, while these polcies aimed at the informal economy may have a profound effect on the formal economy.

Regulating the sharing economy

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Kristofer Erickson

2016-06-01

Full Text Available In this introductory essay, we explore definitions of the ‘sharing economy’, a concept indicating both social (relational, communitarian and economic (allocative, profit-seeking aspects which appear to be in tension. We suggest combining the social and economic logics of the sharing economy to focus on the central features of network enabled, aggregated membership in a pool of offers and demands (for goods, services, creative expressions. This definition of the sharing economy distinguishes it from other related peer-to-peer and collaborative forms of production. Understanding the social and economic motivations for and implications of participating in the sharing economy is important to its regulation. Each of the papers in this special issue contributes to knowledge by linking the social and economic aspects of sharing economy practices to regulatory norms and mechanisms. We conclude this essay by suggesting future research to further clarify and render intelligible the sharing economy, not as a contradiction in terms but as an empirically observable realm of socio-economic activity.

Economies of vertical integration in the Swiss electricity sector

Energy Technology Data Exchange (ETDEWEB)

Fetz, Aurelio; Filippini, Massimo [Department of Management, Technology and Economics, ETH Zurich (Switzerland); Department of Economics, University of Lugano (Switzerland)

2010-11-15

Over the last two decades, several European nations have introduced reforms to their electricity sector. Generally, these reforms require a legal and functional unbundling of vertically integrated companies. These unbundling processes may reduce the possibilities that exist to fruitfully exploit the advantages of vertical integration. The goal of this paper is to empirically analyze the presence of economies of scale and vertical integration in the Swiss electricity sector. Economies of vertical integration between electricity production and distribution result from reduced transaction costs, better coordination of highly specific and interdependent investments and less financial risk. Different econometric specifications for panel data, including a random effects and a random-coefficients model, have been used to estimate a quadratic multi-stage cost function for a sample of electricity companies. The empirical results reflect the presence of considerable economies of vertical integration and economies of scale for most of the companies considered in the analysis. Moreover, the results suggest a variation in economies of vertical integration across companies due to unobserved heterogeneity. (author)

Trade and Empire

DEFF Research Database (Denmark)

Bang, Peter Fibiger

2007-01-01

This articles seeks to establish a new set of organizing concepts for the analysis of the Roman imperial economy from Republic to late antiquity: tributary empire, port-folio capitalism and protection costs. Together these concepts explain better economic developments in the Roman world than the...

Effect of business regulation on investment in emerging market economies

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Birungi Korutaro

2013-01-01

Full Text Available This paper provides an empirical analysis of the business regulatory factors that influence investment in a selection of 29 emerging market economies. Both theoretical and empirical literature on the effect of the regulatory environment on investment is reviewed. A panel data analysis over the period 2003–2007 reveals that investment is influenced by secure property rights and the degree of business entry regulation. The results carry important policy implications for improving the investment climate of emerging market economies.

Economic reasons behind the decline of the Ottoman empire

OpenAIRE

Duranoglu, Erkut; Okutucu, Guzide

2009-01-01

This study addresses the economic reasons of the decline and fall of the Ottoman Empire. On the contrary to the previous researches, by undertaking both global and domestic developments, the paper examines the decline of the empire from an economical point of perspective. Although international developments such as industrialization in European countries, pressure on the Ottomans in terms of integrating with the world economy, global economic factors like depressions and war...

Techno-economy optimization of PV-diesel hybrid / stand-alone systems for remote area power supply based on empirical analysis for Indonesia

Energy Technology Data Exchange (ETDEWEB)

Budiono, Chayun [Komplek BPP Teknologi, Jl. Teknologi VII, Jakarta (Indonesia)

2007-07-01

The techno-economy assessment of photovoltaic (PV) system applications for remote area power supply (RAPS) in combination with operation of diesel generating set (DGS) in Indonesia based on an empirical model is formulated. This model has shown that it helps the project owner to easily optimise the sub-system size (i.e. PV array, auxiliary generator and battery sizes) based on the financial constraints needed for the investment and operation of the system. Two major markets of RAPS in Indonesia are currently for rural electrification and telecommunication systems (orig.)

Empiric Study about the Mix Fiscal Policy – Economic Development

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Alexandru Sergiu Ocnean

2006-11-01

Full Text Available Economic development is one of the primary objectives of any government. Fiscal policy represents one of the most effective tools that government authorities could use in order to influence the economy. Having this in mind, this paper focuses on the connection between economic development and fiscal policy and proposes an empirical study based on a sample of 21 European countries. Using a simple pool data model, we tried to distinguish the relations between the evolution of GDP per capita, as a proxy for economic development, and the evolution of three fiscal policy variables, namely the tax burden, the public expenditure to GDP ratio and the budget deficit to GDP ratio.

Empiric Study about the Mix Fiscal Policy – Economic Development

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Alexandru Sergiu Ocnean

2006-09-01

Full Text Available Economic development is one of the primary objectives of any government. Fiscal policy represents one of the most effective tools that government authorities could use in order to influence the economy. Having this in mind, this paper focuses on the connection between economic development and fiscal policy and proposes an empirical study based on a sample of 21 European countries. Using a simple pool data model, we tried to distinguish the relations between the evolution of GDP per capita, as a proxy for economic development, and the evolution of three fiscal policy variables, namely the tax burden, the public expenditure to GDP ratio and the budget deficit to GDP ratio.

Business cycles in oil economies

International Nuclear Information System (INIS)

Al-Mutairi, N.H.

1991-01-01

This study examines the impact of oil price shocks on output fluctuations of several oil-exporting economies. In most studies of business cycles, the role of oil price is ignored; the few studies that use oil price as one of the variables in the system focus on modeling oil-importing economies. The vector autoregression (VAR) technique is used to consider the cases of Norway, Nigeria, and Mexico. Both atheoretical and 'structural' VARs are estimated to determine the importance of oil price impulses on output variations. The study reports two types of results: variance decomposition and impulse response functions, with particular emphasis on the issues of stationarity and co-integration among the series. The empirical results suggest that shocks to oil price are important in explaining output variations. In most cases, shocks to oil price are shown to explain more than 20% of the forecast variance of output over a 40-quarter horizon

LABOUR RELATIONS IN POSTINDUSTRIAL ECONOMY

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Yuriy Rostislavovitch Chistyakov

2013-09-01

Full Text Available The article deals with inadequacy of present-day labour relations in economy. Out of date form of labour relations makes workforce dependable, causes social inequality, prevents economical development. The article gives results of theoretical and empiric research. The mechanism of guaranteed reproduction of labour to be realized as social partnership is offered.Purpose: the purpose is to give critical estimation of present-day labour relations in postindustrial economy.Method of studies: monographic, general theoretic economic analysis, correlation statistic analysisResults: a new modern adequate alternative form of labour relations guarantying the reproduction of labour is introducedField of application: industrial regulation both in economics in general and concrete businesses; motivation of workers.DOI: http://dx.doi.org/10.12731/2218-7405-2013-8-29

Government revenue-expenditure nexus: Evidence from several transitional economies

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Konukcu-Önal Debi

2008-01-01

Full Text Available Budget deficits and the debate on the sources of deficit finance have been on the agenda of public economics ever since the 1980s. However recently in the post-communist countries fiscal imbalances appear to be an important problem due to prolonged periods of growing poverty resulting from the transition process. Poverty alleviation policies considerably affect the revenue and expenditure decisions of governments, which are subject to hard budget constraints in an open transitional economy and do not have room for departing from sound fiscal policies. The public finance literature provides a vast number of studies analyzing the relationship between public revenues and expenditures. These studies are mostly characterized by efforts to reveal the attitude of the fiscal authority towards maintaining the budget balance. In this respect, budgetary dynamics in which past government revenues have predictive power on the current level of government expenditures are accepted as evidence of the so-called tax-and-spend hypothesis. On the other hand, the revenue-expenditure nexus running from expenditures to revenues is known in the literature as the spend-and-tax hypothesis. The objective of this study is to analyze empirically the relationship between government revenues and expenditures in four of the transitional economies, i.e. Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation. The empirical findings of this study, which are based on Granger causality tests, indicate evidence supporting the tax-and-spend hypothesis in Belarus and the Russian Federation and fiscal synchronization in Kazakhstan and the Kyrgyz Republic. The empirical support for the tax-and-spend hypothesis in these economies implies that increasing government revenues may not end up with lower budget deficits due to their stimulating effect on the demand for public goods and services.

Pushing Economies (and Students) outside the Factor Price Equalization Zone

Science.gov (United States)

Oslington, Paul; Towers, Isaac

2009-01-01

Despite overwhelming empirical evidence of the failure of factor price equalization, most teaching of international trade theory (even at the graduate level) assumes that economies are incompletely specialized and that factor price equalization holds. The behavior of trading economies in the absence of factor price equalization is not well…

Free Market Institutions and FDI Performance in Emerging Asian Economies

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Vogiatzoglou Klimis

2016-12-01

Full Text Available This paper examines long-term developments in the quality and efficiency of free market institutional systems across thirteen emerging economies from South, South-east, and East Asia over the 1995–2014 period. The paper also empirically assesses the impact of free market institutions on a country’s inward foreign direct investment (FDI performance. We find that the free market institutional framework in most economies is still relatively inefficient, restrictive, and underdeveloped but has, nevertheless, substantially improved during the last twenty-year period. Our empirical results also indicate that a free market institutional system in a host-country is a factor that attracts inward FDI to emerging Asian economies by multinational companies. Consequently, policy makers should focus on further improving the quality of free market institutions.

Is Economics an Empirical Science? If not, can it become one?

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Sergio Mario Focardi

2015-07-01

Full Text Available Today’s mainstream economics, embodied in Dynamic Stochastic General Equilibrium (DSGE models, cannot be considered an empirical science in the modern sense of the term: it is not based on empirical data, is not descriptive of the real-world economy, and has little forecasting power. In this paper, I begin with a review of the weaknesses of neoclassical economic theory and argue for a truly scientific theory based on data, the sine qua non of bringing economics into the realm of an empirical science. But I suggest that, before embarking on this endeavor, we first need to analyze the epistemological problems of economics to understand what research questions we can reasonably ask our theory to address.. I then discuss new approaches which hold the promise of bringing economics closer to being an empirical science. Among the approaches discussed are the study of economies as complex systems, econometrics and econophysics, artificial economics made up of multiple interacting agents as well as attempts being made inside present main stream theory to more closely align the theory with the real world

The phenomenology of the movement economy

DEFF Research Database (Denmark)

Liebst, Lasse Suonperä

2015-01-01

The theory of cities as movement economies constitutes a the¬oretical cornerstone of the space syntax paradigm, and the urban morphology literature offers considerable empirical evidence to support the theory’s key proposition that spatial accessibility correlates with economic land use values...

Entrepreneurship in Virtual Economy: the Case of Currency One SA

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Ewa Badzińska

2017-11-01

Full Text Available Purpose: The scientifc purpose of the study is an attempted synthesis of interpretation of “the virtual economy” and “the virtual environment” in the Polish and foreign literature on the subject. The cognitive purpose thereof is to offer an identifcation and a qualitative analysis of the factors that determine the development of e-entrepreneurship using an example of business practice. Methodology: The theoretical basis of the study is a scientifc research of leading scholars on the theory of entrepreneurship in the context of virtual economy. An exploratory, qualitative case study methodology has been applied for the purpose thereof. The research has been conducted using the example of Currency One SA, operating on the currency exchange market in virtual economy. The application of the empirical method of a case study has made it possible to characterize the essence of e-entrepreneurship and present the studied phenomenon in business practice. Findings: Research results reveal an existence of interdependencies between the intellectual potential of staff members and the market success of a company. Explanation of the critical success factors, showing the implementation of innovative ICT solutions and stages of company development, illustrates how the existing theory is experienced by practitioners in virtual economy. Furthermore, the paper confrms the positive impact of e-entrepreneurship on the effectiveness of the company subject to analysis, and presents virtual economy as a completely new sphere through which it is possible to offer new products and services. Research implications: The rationale for conducting research on case studies is the need to orient the practice towards a better understanding of modern economic reality. The study may provide a starting point for empirical quantitative research, as well as act as a contribution to the discussion on entrepreneurship in the rapidly changing virtual economy. Originality: This

Linear Economy Versus Circular Economy: A Comparative and Analyzer Study for Optimization of Economy for Sustainability

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Sariatli Furkan

2017-05-01

Full Text Available Upon visiting the existing literature on the subject of linear vs. circular economy, this paper finds that, the blueprint of the current economy is hardly sustainable by using the comparative benchmarking method that drained from literature. The intrinsic mechanics of the linear economy, by relying on the wasteful take - make - dispose flow, is detrimental to the environment, cannot supply the growing populace of our planet with essential services and it naturally leads to strained profitability. Elements of a plausible solution to the challenges have been around for decades, although they have only recently been compiled in to the conceptual framework of circular economy. The core ideas of Circular Economy are elimination of waste by design, respect for the social, economic and natural environment and resource-conscious business conduct. Built on the backbone of these principles, the circular economy has demonstrated to deliver tangible benefits and viability to address the economic, environmental and social challenges of our days.

Energy consumption and economic growth revisited: Does the size of unrecorded economy matter?

International Nuclear Information System (INIS)

Karanfil, Fatih

2008-01-01

We analyze the long-run relationship between energy consumption and real gross domestic product (GDP) in Turkey taking into account the size of unrecorded economy. Since in developing countries, mainly due to the unrecorded economic activities, the official GDP is not measured correctly, the investigation of the linkage between energy consumption and official GDP may not give reliable results. In this study, empirical results for the case of Turkey over the period 1970-2005 suggest that there is a long-run equilibrium relationship between the officially calculated GDP and energy consumption. Besides, using the error-correction modeling technique, we find out that unidirectional causality runs from official GDP to energy in both short and long runs. However, when we take into account unrecorded economy, we detect neither cointegration nor causality between energy consumption and true GDP. These empirical findings imply that: first, energy conservation policies can be implemented in order to reduce greenhouse gas emissions without any adverse effect on the recorded economic activities; second the production function in the unrecorded economy is not stable. Furthermore, economic policies to combat unrecorded economy may not serve as a complement to energy conservation policies

RE-EXAMINATION OF THE PURCHASING POWER PARITY IN CENTRAL AND EASTERN EUROPEAN ECONOMIES

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Ahmad Zubaidi Baharumshah

2011-02-01

Full Text Available The empirical record on PPP tests for transition economies is far from being so opulent as it is for the developed market economies. This paper attempts to fill this gap by scrutinizing the theory of PPP on a sample of Central and Eastern European economies. The paper has two main advances with respect to previous PPP studies. First, it employs a monthly data base on real exchange rates for a panel of 12 Central and Eastern European economies by testing the theory separately with respect to US dollar and with respect to Euro. Second, we utilise a panel unit root test that involves the estimation of the ADF regression in a SUR framework. Since our study found support for the validity of PPP in some reforming European economies, special attention should be devoted to individual country-specific factors that cause PPP deviations.

THE NEW ECONOMY AND THE ECONOMY OF TOURISM

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MIRELA MAZILU

2011-01-01

Full Text Available Together with the Internet, e-business and the new economy era, in general, fundamental transformation of the social and economic structure take place. In parallel, the assaults on the standard economic science amplify, in the sense of some conceptual reformulations and of some reinterpretations of the economic phenomena and laws. Besides the classical factors of production, work and capital, information is added, either as a distinct factor or as a detached one of the two mentioned. Also, the empiric findings regarding the so-called tertiarisation of the economy or the increase of the share of the services sector in the total of the national economy, as well as the so-called intangible investments in the total of the investment funds, have lead to numerous attempts of redefining what we call today a "modern economy". Other factors with major influence, regarding the adjustment of the economic science to the new trends from the real economy, refer to the following: the liberalisation of the international exchanges and the globalisation; the growth of the importance of the so-called free time (including here the household activities and the ones unfolded in the interest of the community, entertainment, but also the time destined to the development of the degree of culture and education on one's own and the fluidisation of the limits of differentiation between this and the work activity in the formal sector as well as the informal one; the more rapid dynamic of the financial and banking markets than the so-called classic productive sector of the economy; the extension of the use of computers and of the means and techniques of communication, in the activity of the companies as well as in the households, and the impact on the structure of the time and the financial budget of the population etc. All these have an impact on the tourism unfolding.

Review essay: empires, ancient and modern.

Science.gov (United States)

Hall, John A

2011-09-01

This essay drews attention to two books on empires by historians which deserve the attention of sociologists. Bang's model of the workings of the Roman economy powerfully demonstrates the tributary nature of per-industrial tributary empires. Darwin's analysis concentrates on modern overseas empires, wholly different in character as they involved the transportation of consumption items for the many rather than luxury goods for the few. Darwin is especially good at describing the conditions of existence of late nineteenth century empires, noting that their demise was caused most of all by the failure of balance of power politics in Europe. Concluding thoughts are offered about the USA. © London School of Economics and Political Science 2011.

YOUTH STUDIES – A SPECIFIC GENRE OF THE EMPIRICAL PARADIGM IN SOCIAL SCIENCES

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Agnė Dorelaitienė

2017-09-01

Full Text Available The article presents the situation of youth in contemporary society. Neoliberal economy, ageing society, rapid globalisation, technological changes, increase of social risk have prompted specific, historically unfamiliar, and fairly difficult to forecast social change. Social adaptation and construction of own identity are becoming challenging to youth as a specific social group in this period of great uncertainty, risk, and opportunities. Youth studies are referred to as one of the means to help understand the youth phenomenon and form the respective policy. Aim of the article is to reveal the role of youth studies as a specific interdisciplinary genre of the empirical-analytic paradigm in social sciences. Research objectives: (1 To identify the traditions of youth studies and differences between them; (2. To reveal the specific character of youth studies as an empirical paradigm in the contemporary context. Analysis of scientific sources and document analysis are used for achievement of the goal and objectives. Since the 20th century, youth studies have been developing as an independent research discipline and tradition. Perception of the notion of a young person has been changing along with development of the paradigmatic and methodological research traditions. Modernity has doubtlessly contributed to a young person finding his/her place in other age groups and putting an emphasis on the importance of youth as a specific social group. Recently, youth has been viewed as both the risk and the opportunity group. Although qualitative research, in particular, where youth emancipation is aspired, prevails in the contemporary research tradition, the empirical-analytic paradigm has not lost its relevance. The research has demonstrated that empirical-analytic paradigm is a specific genre of the youth studies characterised by quantitative approach and strong link to politics and practical situation of the phenomenon.

Economies of scale, technology, and intra-industry trade

OpenAIRE

Inagawa Nobuo

1989-01-01

The purpose of this paper is to test empirically economies of scale, defined by technologyin Intra-Industry Trade(IIT). B.Balassa found first the existence of IIT. Grubeland Lloyd, Linder, Dreze, and others treated IIT as consisting of final goods.But P.Raymentfound that IIT consists mostly of intermediate goods and he tried to explain IIT byeconomies of scale and specialization. However, to test the relationship between economiesof scale and IIT, I will use I.Ozaki's definition on economies ...

Renewable energy consumption and income in emerging economies

International Nuclear Information System (INIS)

Sadorsky, Perry

2009-01-01

Increased economic growth and demand for energy in emerging economies is creating an opportunity for these countries to increase their usage of renewable energy. This paper presents and estimates two empirical models of renewable energy consumption and income for a panel of emerging economies. Panel cointegration estimates show that increases in real per capita income have a positive and statistically significant impact on per capita renewable energy consumption. In the long term, a 1% increase in real income per capita increases the consumption of renewable energy per capita in emerging economies by approximately 3.5%. Long-term renewable energy per capita consumption price elasticity estimates are approximately equal to -0.70.

How do Institutions Affect Corruption and the Shadow Economy?

OpenAIRE

Axel Dreher; Christos Kotsogiannis; Steve McCorriston

2005-01-01

This paper analyzes a simple model that captures the relationship between institutional quality, the shadow economy and corruption. It shows that an improvement in institutional quality reduces the shadow economy and affects the corruption market. The exact relationship between corruption and institutional quality is, however, ambiguous and depends on the relative effectiveness of the institutional quality in the shadow and corruption markets. The predictions of the model are empirically test...

Business cycle development in Czech and Slovak economies

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Poměnková, J.

2010-12-01

Full Text Available This paper focuses on the business cycle development of Czech and Slovak economies. The main objective is to compare several methodological approaches to identify business cycles with the main theoretical sources of the economic activity movements in the analyzed periods. As both economies are of transition type, the growth business cycle concept will be considered. In this respect, deterministic as well as stochastic methods for obtaining cyclical fluctuations are applied. Czech and Slovak economies fall into the group of transition economies where the problems of insufficient number of observations and structural changes in empirical time series analysis occur. Even if there are many similarities in the institutions of both economies, the authors identified different regular periodicities of the waves. The used frequency analysis is a slightly unique approach of business cycle modeling. The analysis of business cycle movements has significant potential to improve economic policy efficiency.

Relationship between price and money stock in Iranian economy (1961-2008

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Mohammad Reza Babaei Semirumi

2009-12-01

Full Text Available The main purpose of this paper is to investigate the relationship between money and inflation in the Iranian economy with cagan(1956 money demand function . In doing so,I have first reviewed theoretical and empirical literature of causality throughout the world and then it be used Granger’s method for detecting causality between money and inflation in the Iranian economy. according to this working paper elasticity of demand for real balances in money market toward inflation for Iranian economy are approximately 0.9 and Money is exogenous reward to WPI,CPI and PPI in Iranian economy.

Impact of banking institutions on national economy an empirical study of time series analysis in Pakistan

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Nouman Badar

2015-09-01

Full Text Available This paper examines the long and short term relationship of financial sector development on economic growth of Pakistan where development of financial sector is detected by the variables truly depicts the efficiency of financial sector i.e. Money Supply, size of Advances, Private sector Credit growth and Bank’s equity with economic growth which is pronounced by Gross Domestic Product in this study. Data of almost 22 years ranges from 1992 to 2013 of overall banking industry is taken to obtain results by employing Johnson and Jusellious co integration technique to detect long run association while Granger Casualty test is used to determine cause and effect relationship and to measure short term dynamics Vector Error correction model is used. The result shows that both long and short run relationship exists between growth of financial sector and economy of Pakistan

Improving behavioral realism in hybrid energy-economy models using discrete choice studies of personal transportation decisions

International Nuclear Information System (INIS)

Horne, M.; Jaccard, M.; Tiedemann, K.

2005-01-01

Hybrid energy-economy models combine top-down and bottom-up approaches to explore behaviorally realistic responses to technology-focused policies. This research uses empirically derived discrete choice models to inform key behavioral parameters in CIMS, a hybrid model. The discrete choice models are estimated for vehicle and commuting decisions from a survey of 1150 Canadians. With the choice models integrated into CIMS, we simulate carbon taxes, gasoline vehicle disincentives, and single occupancy vehicle disincentives to show how different policy levers can motivate technological change. We also use the empirical basis for the choice models to portray uncertainty in technological change, costs, and emissions. (author)

Meta-analysis data for 104 Energy-Economy Nexus papers.

Science.gov (United States)

Hajko, Vladimír; Kociánová, Agáta; Buličková, Martina

2017-06-01

The data presented here are manually encoded characteristics of research papers in the area of Energy-Economy Nexus (empirical investigation of Granger causality between energy consumption and economic growth) that describe the methods, samples, and other details related to the individual estimations done in the examined empirical papers. Data cover papers indexed by Scopus, published in economic journals, written in English, after year 2000. In addition, papers were manually filtered to only those that deal with Energy-Economy Nexus investigation and have at least 10 citations at (at the time of query - November 2015). This data are to be used to conduct meta-analysis - associated dataset was used in Hajko [1]. Early version of the dataset was used for multinomial logit estimation in Master thesis by Kociánová [2].

Measuring the Economic Impact of Rural Tourism Membership on Local Economy: A Korean Case Study

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Hio-Jung Shin

2017-04-01

Full Text Available The implementation of rural tourism membership can aid in boosting economic growth in rural areas. This study examines households’ preferences for rural tourism experience in association with sales of local agricultural products. Using a choice experiment method developed by experimental designs, this paper examines households’ preferences to trade off purchasing costs of local agricultural products against various benefits provided by the rural tourism membership. The methods utilized in this paper represent an effective approach to evaluate the value of local tourism resources and the influence of these resources on the local economy. In empirical estimation we applied econometric approaches that allow for different preferences by incorporating income and residence effects into the models. Findings reveal that respondents place a premium on tourism attributes such as invitation seats and outdoor adventure tickets when choosing a tourism membership. We also find that the economic impacts associated with inducing higher-level tourism membership are substantial. This paper illustrates the potential for the development of a strategy associated with rural tourism management to enhance the local economy.

Management of Innovative Projects for Ensuring the Economic Safety in the Conditions of Integration of Economies into the World Economy

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T. K. Usmanova

2017-01-01

Full Text Available Purpose: the aim of the article is to reveal problems and prospects, formulate economic security within the framework of innovation projects management, plan technologies in the context of integrating economies into the world economy, identify opportunities for forming, organizing, financing, managing priority economic directions. The subject is the management of innovative projects to ensure the economic security of Russian regions. The relevance of the chosen topic is due to the study of the features of the current state and the problems of the formation of economic security, the development of innovative design solutions in the context of integrating economies into the world economy. Ensuring the economic security of the regions of Russia directly depends on the introduction of innovative technologies and project management in the sectors of the national economy of Russia. Methods: the methodology of the solution of objectives is based on usage of a method of dialectic research, methods of the economic analysis, forecasting, the situational and systemic analysis, expert evaluations and the analysis of empirical data. Hypothesis. Ensuring an economic safety requires formation of innovative solutions, change of the current legislation within the Strategy of social and economic development in the conditions of integration of economies into the world economy. Results: the practical significance of the work is to identify the interrelationship between the development processes of innovative projects that ensure the economic security of the regions of Russia within the framework of regulating the current legislation, forecasting effective economic activity within the framework of the New Industrialization Strategy, selecting optimal project planning models to ensure the country's economic security and competitiveness in the conditions of integration Economies into the world economy. Conclusions and Relevance: in the conditions of integration of

Real-world fuel economy and CO2 emissions of plug-in hybrid electric vehicles

International Nuclear Information System (INIS)

Ploetz, Patrick; Funke, Simon Arpad; Jochem, Patrick

2015-01-01

Plug-in hybrid electric vehicles (PHEV) combine electric propulsion with an internal combustion engine. Their potential to reduce transport related green-house gas emissions highly depends on their actual usage and electricity provision. Various studies underline their environmental and economic advantages, but are based on standardised driving cycles, simulations or small PHEV fleets. Here, we analyse real-world fuel economy of PHEV and the factors influencing it based on about 2,000 actual PHEV that have been observed over more than a year in the U.S. and Germany. We find that real-world fuel economy of PHEV differ widely among users. The main factors explaining this variation are the annual mileage, the regularity of daily driving, and the likelihood of long-distance trips. Current test cycle fuel economy ratings neglect these factors. Despite the broad range of PHEV fuel economies, the test cycle fuel economy ratings can be close to empiric PHEV fleet averages if the average annual mile-age is about 17,000 km. For the largest group of PHEV in our data, the Chevrolet Volt, we find the average fuel economy to be 1.45 litres/100 km at an average electric driving share of 78%. The resulting real-world tank-to-wheel CO 2 emissions of these PHEV are 42 gCO 2 /km and the annual CO 2 savings in the U.S. amount to about 50 Mt. In conclusion, the variance of empirical PHEV fuel economy is considerably higher than of conventional vehicles. This should be taken into account by future test cycles and high electric driving shares should be incentivised.

Political Economy, the Internet and FL/OSS Development

Science.gov (United States)

Mansell, Robin; Berdou, Evangelia

Despite the growing amount of research on Free/Libre/Open Source Software (FL/OSS) development, there is little insight into how structural factors associated with institutions influence the patterns of software developer activity in this area. This article examines some of the dynamics of the development of this type of software and the extent to which these dynamics are associated with features of the gift economy as is frequently suggested in the literature. Drawing on an empirical analysis of contributors to the GNOME FL/OSS project, we suggest that greater attention should be given to the emergence of a mixed economy in which features of the exchange economy come to the fore with implications for the power relationships among those contributing to FL/OSS.

Profitability, power, or proximity? Organized crime groups investing their money in legal economy

NARCIS (Netherlands)

Kruisbergen, E.W.; Kleemans, E.R.; Kouwenberg, R.F.

2015-01-01

This article uses empirical data from the Dutch Organized Crime Monitor to give empirical insight into the choices organized crime offenders make when they invest their money in legal economy. Using a dataset of 1196 individual investments, light is shed on what kind of assets offenders purchase and

METHODS TO QUANTIFY THE UNDERGROUND ECONOMY

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Oana Simona HUDEA

2017-12-01

Full Text Available The underground economy issue has raised in time miscellaneous discussions, it representing a large interest problem that affects the nations all over the world, without exception and, thereby, the well—being of stand—alone individuals. Although also treated in some previous works of the author, this topic in herein approached from a different perspective, namely the one related to distinct methods to be used in order to capture, by quantification, this undesirable economic form. Such methods, empirically tested or just imposed, based on arguments, by the researchers having launched the same, are rendered while considering their pluses and minuses in revealing, with a reasonable accuracy, the level of the above—mentioned informal economy.

An Empirical Investigation on Chinese High School Students' Choice of Pursuing Undergraduate Education Abroad

Science.gov (United States)

Chen, Jiankun

2014-01-01

Globalization has greatly promoted student mobility around the world. Being a developing economy, China witnessed significant growth of students studying internationally, especially with the number of students study at undergraduate programs. However, empirical research on high school students' choice and the decision-making process of pursuing…

Political Economies of Health: A Consideration for International Nursing Studies

Science.gov (United States)

Peters, Michael A.; Drummond, John S.

2008-01-01

This article introduces and explores the concept of political economy. In particular it focuses upon the political economy of health while also considering the implications for international nursing studies in the context of health care more generally. Political economy is not only about budgets, resources and policy. It is also about particular…

An Empirical Study on Environmental System Perception of Tourism Island Residents: A Case Study in Hainan Island

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Qiong Sun

2014-06-01

Full Text Available Today the development of island tourism has attracted more and more attention from domestic and international tourism researches. Tourism island has become the important scenic spot in coastal cities in China. Through the empirical research of local residents' awareness of environmental system, we can better hold people's perception of the touristic environment. Method can also be drawn to promote public participation more actively in the tourism development of the islands. This paper mainly shows the residents' attitude towards tourism through their feelings of the changes of economy, local social culture and the island environment brought by tourism. The results show that residents' positive perception of tourism is more intense than negative perception, and the perception of economy is stronger than that of culture and environment. On the overall perception, there exists no significant difference while in the tiny level there are still some differences remained.

Real-world fuel economy and CO{sub 2} emissions of plug-in hybrid electric vehicles

Energy Technology Data Exchange (ETDEWEB)

Ploetz, Patrick; Funke, Simon Arpad; Jochem, Patrick [Fraunhofer-Institut fuer System- und Innovationsforschung (ISI), Karlsruhe (Germany). Competence Center Energiepolitik und Energiesysteme

2015-07-01

Plug-in hybrid electric vehicles (PHEV) combine electric propulsion with an internal combustion engine. Their potential to reduce transport related green-house gas emissions highly depends on their actual usage and electricity provision. Various studies underline their environmental and economic advantages, but are based on standardised driving cycles, simulations or small PHEV fleets. Here, we analyse real-world fuel economy of PHEV and the factors influencing it based on about 2,000 actual PHEV that have been observed over more than a year in the U.S. and Germany. We find that real-world fuel economy of PHEV differ widely among users. The main factors explaining this variation are the annual mileage, the regularity of daily driving, and the likelihood of long-distance trips. Current test cycle fuel economy ratings neglect these factors. Despite the broad range of PHEV fuel economies, the test cycle fuel economy ratings can be close to empiric PHEV fleet averages if the average annual mile-age is about 17,000 km. For the largest group of PHEV in our data, the Chevrolet Volt, we find the average fuel economy to be 1.45 litres/100 km at an average electric driving share of 78%. The resulting real-world tank-to-wheel CO{sub 2} emissions of these PHEV are 42 gCO{sub 2}/km and the annual CO{sub 2} savings in the U.S. amount to about 50 Mt. In conclusion, the variance of empirical PHEV fuel economy is considerably higher than of conventional vehicles. This should be taken into account by future test cycles and high electric driving shares should be incentivised.

Exchange Rate Movement and Foreign Direct Investment in Asean Economies

OpenAIRE

Lily, Jaratin; Kogid, Mori; Mulok, Dullah; Thien Sang, Lim; Asid, Rozilee

2014-01-01

The inflows of foreign direct investment (FDI) are important for a country's economic development, but the world market for FDI has become more competitive. This paper empirically analyses the exchange rate movements and foreign direct investment (FDI) relationship using annual data on ASEAN economies, that is, Malaysia, the Philippines, Thailand, and Singapore. By employing ARDL bounds test approach, the empirical results show the existence of significant long-run cointegration between excha...

Traditional ecological knowledge trends in the transition to a market economy: empirical study in the Doñana natural areas.

Science.gov (United States)

Gómez-Baggethun, Erik; Mingorría, Sara; Reyes-García, Victoria; Calvet, Laura; Montes, Carlos

2010-06-01

Researchers and conservation managers largely agree on the relevance of traditional ecological knowledge for natural resource management in indigenous communities, but its prevalence and role as societies modernize are contested. We analyzed the transmission of traditional knowledge among rural local people in communities linked to protected areas in Doñana, southwestern Spain. We studied changes in knowledge related to local practices in agriculture and livestock farming among 198 informants from three generations that cover the period in which the area transited from an economy strongly dependent on local ecosystem services to a market economy with intensified production systems. Our results suggest an abrupt loss of traditional agricultural knowledge related to rapid transformations and intensification of agricultural systems, but maintenance of knowledge of traditional livestock farming, an activity allowed in the protected areas that maintains strong links with local cultural identity. Our results demonstrate the potential of protected areas in protecting remaining bodies of traditional ecological knowledge in developed country settings. Nevertheless, we note that strict protection in cultural-landscape-dominated areas can disrupt transmission of traditional knowledge if local resource users and related practices are excluded from ecosystem management.

Empirical confirmation of creative destruction from world trade data.

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Peter Klimek

Full Text Available We show that world trade network datasets contain empirical evidence that the dynamics of innovation in the world economy indeed follows the concept of creative destruction, as proposed by J.A. Schumpeter more than half a century ago. National economies can be viewed as complex, evolving systems, driven by a stream of appearance and disappearance of goods and services. Products appear in bursts of creative cascades. We find that products systematically tend to co-appear, and that product appearances lead to massive disappearance events of existing products in the following years. The opposite-disappearances followed by periods of appearances-is not observed. This is an empirical validation of the dominance of cascading competitive replacement events on the scale of national economies, i.e., creative destruction. We find a tendency that more complex products drive out less complex ones, i.e., progress has a direction. Finally we show that the growth trajectory of a country's product output diversity can be understood by a recently proposed evolutionary model of Schumpeterian economic dynamics.

Empirical confirmation of creative destruction from world trade data.

Science.gov (United States)

Klimek, Peter; Hausmann, Ricardo; Thurner, Stefan

2012-01-01

We show that world trade network datasets contain empirical evidence that the dynamics of innovation in the world economy indeed follows the concept of creative destruction, as proposed by J.A. Schumpeter more than half a century ago. National economies can be viewed as complex, evolving systems, driven by a stream of appearance and disappearance of goods and services. Products appear in bursts of creative cascades. We find that products systematically tend to co-appear, and that product appearances lead to massive disappearance events of existing products in the following years. The opposite-disappearances followed by periods of appearances-is not observed. This is an empirical validation of the dominance of cascading competitive replacement events on the scale of national economies, i.e., creative destruction. We find a tendency that more complex products drive out less complex ones, i.e., progress has a direction. Finally we show that the growth trajectory of a country's product output diversity can be understood by a recently proposed evolutionary model of Schumpeterian economic dynamics.

Political pressures and exchange rate stability in emerging market economies

OpenAIRE

Ester Faia; Massimo Giuliodori; Michele Ruta

2008-01-01

This paper presents a political economy model of exchange rate policy. The theory is based on a common agency approach with rational expectations. Financial and exporter lobbies exert political pressures to influence the government’s choice of exchange rate policy, before shocks to the economy are realized. The model shows that political pressures affect exchange rate policy and create an over-commitment to exchange rate stability. This helps to rationalize the empirical evidence on fear of l...

Economy of education: National and global aspects

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Oksana Ishchenko-Padukova

2017-12-01

Full Text Available Our paper focuses on the national economy of education. We assume that under the current conditions of the globalized world, the economy of education reveals its two-fold nature: on the one hand, it represents an element of the national economic system, and on the other, it is also a structural component of the global education system. Therefore, national economy of education is shaped up by both internal and external factors represented by national and international influences. We analyze here the functional composition and the methods of legal regulation of the economy of education under the conditions and provisions of the global geopolitical transformations. In addition, we use the empirical model of returns to education for showing the factors that impact the employability of young graduates at the labor market. Our results confirm the importance of education for achieving higher levels of income, both nationally and internationally. Finally, we come to the conclusion that its target function consists of the global promotion of national education and consolidation of national competitive position within the world education space.

The Empirical Implications of the Zero Lower Bound on the Interest Rate: The Case of the Czech Economy

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Miroslav Hloušek

2016-01-01

Full Text Available This paper uses an estimated DSGE model of the Czech economy to study the macroeconomic implications of various shocks when the interest rate is constrained by the zero lower bound. The goal is to identify which shocks represent threats for the economy and how large the distortions are. The results show that four single shocks can take the economy to the zero lower bound, and that of the four, productivity shock in the tradable sector is the most dangerous. The consequences for the behaviour of macroeconomic variables are nontrivial and, quite naturally, increase with the size of the shock and the frequency of occurrence. If the economy is subject to all model specific shocks, there are distortions in terms of lower average values of output and consumption (by more than one percentage point and higher inflation volatility (by more than six percentage points. To reduce these costs, the central bank should give higher weight to inflation and lower weight to the output gap in monetary policy rule.

Economies of scale and optimal size of hospitals: Empirical results for Danish public hospitals

DEFF Research Database (Denmark)

Kristensen, Troels

number of beds per hospital is estimated to be 275 beds per site. Sensitivity analysis to partial changes in model parameters yields a joint 95% confidence interval in the range 130 - 585 beds per site. Conclusions: The results indicate that it may be appropriate to consolidate the production of small...... the current configuration of Danish hospitals is subject to scale economies that may justify such plans and to estimate an optimal hospital size. Methods: We estimate cost functions using panel data on total costs, DRG-weighted casemix, and number : We estimate cost functions using panel data on total costs......, DRG-weighted casemix, and number of beds for three years from 2004-2006. A short-run cost function is used to derive estimates of long-run scale economies by applying the envelope condition. Results: We identify moderate to significant long-run economies of scale when applying two alternative We...

Empirical studies on changes in oil governance

Science.gov (United States)

Kemal, Mohammad

Regulation of the oil and gas sector is consequential to the economies of oil-producing countries. In the literature, there are two types of regulation: indirect regulation through taxes and tariffs or direct regulation through the creation of a National Oil Company (NOC). In the 1970s, many oil-producing countries nationalized their oil and gas sectors by creating and giving ownership rights of oil and gas resources to NOCs. In light of the success of Norway in regulating its oil and gas resources, over the past two decades several countries have changed their oil governance by changing the rights given to NOC from ownership right to mere access rights like other oil companies. However, empirical literature on these changes in oil governance is quite thin. Thus, this dissertation will explore three research questions to investigate empirically these changes in oil governance. First, I investigate empirically the impact of the changes in oil governance on aggregate domestic income. By employing a difference-in-difference method, I will show that a country which changed its oil governance increases its GDP per-capita by 10%. However, the impact is different for different types of political institution. Second, by observing the changes in oil governance in Indonesia , I explore the impact of the changes on learning-by-doing and learning spillover effect in offshore exploration drilling. By employing an econometric model which includes interaction terms between various experience variables and changes in an oil governance dummy, I will show that the change in oil governance in Indonesia enhances learning-by-doing by the rigs and learning spillover in a basin. Lastly, the impact of the changes in oil governance on expropriation risk and extraction path will be explored. By employing a difference-in-difference method, this essay will show that the changes in oil governance reduce expropriation and the impact of it is different for different sizes of resource stock.

The Relevance of Political Stability on FDI: A VAR Analysis and ARDL Models for Selected Small, Developed, and Instability Threatened Economies

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Petar Kurecic

2017-06-01

Full Text Available This paper studies the relevance of political stability on foreign direct investment (FDI and the relevance of FDI on economic growth, in three panels. The first panel contains 11 very small economies; the second contains five well-developed and politically stable economies with highly positive FDI net inflows, while the third is a panel with economies that are prone to political violence or targeted by the terrorist attacks. We employ a Granger causality test and implement a vector autoregressive (VAR framework within the panel setting. In order to test the sensitivity of the results and avoid robust errors, we employ an ARDL model for each of the countries within every panel. Based upon our results, we conclude that there is a long-term relationship between political stability and FDI for the panel of small economies, while we find no empiric evidence of such a relationship for both panels of larger and more developed economies. Similarly to the original hypothesis of Lucas (1990, we find that FDI outflows tend to go towards politically less stable countries. On the other hand, the empiric methodology employed did not find such conclusive evidence in the panels of politically more developed countries or in the small economies that this paper observes.

Regional and international market integration of a small open economy

OpenAIRE

Sebastian Fossati; Fernando Lorenzo; Cesar M. Rodríguez

2007-01-01

This paper studies the relationship between a set of commodity prices in a small open economy like Uruguay and the corresponding international and regional prices. The empirical methodology used is the multivariate cointegration procedure based on maximum likelihood methods introduced by Johansen (1988) as well as estimations of half-life persistence indicators. In the case of cereals, the evidence suggests strong market integration between domestic and regional markets and, to some extent, a...

Unfolding Challenges of Business Model Innovation towards Circular Economy

DEFF Research Database (Denmark)

Hvass, Kerli Kant

2017-01-01

of customers where it is important to see them as suppliers and co-producers of post-consumer value of products and materials. Finally, integrating circular economy strategies into business models may bring along radical changes to how companies perceive its products and relationships with customers and other...... model. The paper is based on empirical findings from a 34 month long qualitative case study of a leading Scandinavian fashion brand and the study followed an engaged scholarship strategy (Van de Ven, 2007). The findings identify issues and challenges that impact the successful implementation...

An Empirical Analysis of Romania’s Comovement with the Euro Zone

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Nicolae Dardac

2009-11-01

Full Text Available In light of adopting the euro in the near future, it is important to asses to which extent the Romanian business cycle evolves in a similar fashion with that of the euro zone. The present study is an empirical investigation of the degree of business cycle synchronization between Romania and the euro area, based on macroeconomic series that capture the cyclical features of the two economies. The results indicate that the most recent period, characterized by major economic and financial turmoil, has lead to an increase of the degree of comovement between of the Romanian economy with that of the euro area.

Analysis of consumption behaviour concerning current income and lags consumption: Empirical evidence from Pakistan

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Abdul Qayyum Khan

2014-10-01

Full Text Available As in other economies, consumption expenditure is the largest component of the Gross Domestic Product (GDP of Pakistan economy. The figure has been estimated around 80 percent of the GDP and demonstrates that historically, Pakistan’s economic growth is characterized as consumption-led growth. The present paper aims to explore the relationship between income and consumption using annual time series data for the period: 1975 to 2012 in Pakistan. For empirical investigation the linear regression model and the method of Least Squares is used as analytical techniques. Empirical results support the existence of a significant positive relationship between income and consumption. The finding suggests that long term committed planning is indispensable to enhance the productive capacity of the economy, employment opportunities and reduce poverty levels more effectively.

What does equity sector orderflow tell us about the economy?

NARCIS (Netherlands)

Beber, A.; Brandt, M.W.; Kavajecz, K.A.

2008-01-01

Investors rebalance their portfolios as their views about expected returns and risk change. We use empirical measures of portfolio rebalancing to back out investors views, specifically views about the state of the economy. We show that aggregate portfolio rebalancing across equity sectors is

Learnings from Durkheim and beyond: the economy and suicide.

Science.gov (United States)

Lester, B Y

2001-01-01

This empirical study commemorates Durkheim's contribution to suicidology by reviewing his own and his followers' formulation of the relationship between the business cycle and suicide. Three distinctive sociological theories of suicide, including Durkheim's, were identified to link the suicide rate to the socio-economic environment of the society. A real-income hypothesis of suicide was developed to capture (a) the positive impact of the economy on suicide, (b) the curvilinear impact of the economy on suicide implied by Durkheim's proposition, and (3) the interplay of both economic and sociological variables on suicide. Another implication from the reformulation is that there may exist a positive natural rate of suicide for any society. These two hypotheses were tested using the 1990 census data for the continental states of the United States. Some conclusions and suggestions were drawn for future research.

Empirical Examination of Users’ Adoption of the Sharing Economy in China Using an Expanded Technology Acceptance Model

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Yupeng Liu

2018-04-01

Full Text Available With the popularity of sharing-based applications such as bicycle and car sharing, the sharing economy has attracted considerable global attention. The factors that affect users’ adoption of the sharing economy must be identified to facilitate the promotion of low-carbon lifestyles and help enterprises attract more active users. By employing the technology acceptance model (TAM and herd behavior, this study implemented an expanded TAM and identified several factors affecting behavioral intention (BI toward the sharing economy. A questionnaire was used to obtain the data, which were analyzed through structural equation modeling. The results revealed that perceived usefulness (PU and perceived ease of use (PEOU are the main factors affecting BI. Moreover, trust (TRU was identified as a mediator of subjective norm (SN and PEOU. Imitating others (IMI affects BI, and SN affects TRU, PU, and PEOU. Gender moderates SN and IMI. This paper indicates that to improve users’ BI, enterprises should enhance PU, PEOU, and TRU; cooperate with organizations to enhance SN; and guide potential users to imitate others.

Wage-productivity gap in OECD economies

OpenAIRE

Elgin, Ceyhun; Kuzubas, Tolga Umut

2013-01-01

The Walrasian theory of labor market equilibrium predicts that in the absence of any market frictions, workers earn a wage rate equal to their marginal productivity. However, this observation is not supported empirically for various economies. Based on the neoclassical tradition, the ratio of the marginal product of labor to real wages is generally defined as the Pigouvian exploitation rate. In this paper, the authors calculate this specific wage-productivity gap for the manufacturing sector ...

Social capital as a determinant of the shadow economy in the Republic of Serbia

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Natasa Golubovic

2015-08-01

Full Text Available The design and implementation of the measures aimed at incorporating informal economic activities into the existing formal regulatory framework assume the knowledge of the causes and structure of the informal activity. The influence of the institutional factors that encourage the development of the shadow economy (the tax burden, the degree of the regulation of the economy, the capacity of the state administration were the subject of extensive theoretical and empirical research. In contrast, the impact of social capital, i.e. the characteristics of social ties and relations, on the shadow economy has been investigated to a much lesser extent. Starting from the fact that the informal sector of the Serbian economy is so widespread that it represents a serious obstacle to the business activities of Serbian enterprises, the aim of this study is to investigate whether the characteristics of social ties and relations, or social capital in the Republic of Serbia (RS, represent a fertile ground for the growth of the shadow economy. In this context, the characteristics and frequency of social contacts, particularized trust and institutional trust will be separately analyzed as the determinants of the shadow economy in RS.

Cloud Computing (SaaS Adoption as a Strategic Technology: Results of an Empirical Study

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Pedro R. Palos-Sanchez

2017-01-01

Full Text Available The present study empirically analyzes the factors that determine the adoption of cloud computing (SaaS model in firms where this strategy is considered strategic for executing their activity. A research model has been developed to evaluate the factors that influence the intention of using cloud computing that combines the variables found in the technology acceptance model (TAM with other external variables such as top management support, training, communication, organization size, and technological complexity. Data compiled from 150 companies in Andalusia (Spain are used to test the formulated hypotheses. The results of this study reflect what critical factors should be considered and how they are interrelated. They also show the organizational demands that must be considered by those companies wishing to implement a real management model adopted to the digital economy, especially those related to cloud computing.

Fueling the Gig Economy: A Case Study Evaluation of Upwork.com

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Daryl D. Green

2018-02-01

Full Text Available With recent downsizing of talented professionals and the power of globalization to provide opportunities for more underdeveloped countries, the gig economy is a source of influence in today’s generation of professionals. Online outsourcing media have shown to be valuable resources for companies who need a specific set of skills for a limited period. This case study evaluates Upwork.com, one of the leading freelance websites in the gig economy; this article provides insights on how others should evaluate the power of this new economy in terms of opportunities for small businesses, entrepreneurs, and freelancers. Upwork has led the pack by providing a flexible platform for freelancers worldwide, including coders, writers, and web developers, putting businesses in touch with reasonably priced workers. The study begins by exploring the attributes of the gig economy. Data collection is achieved through qualitative analysis. The application of these conclusions could increase the survival rate of new freelancers on Upwork.com and in the gig economy. The study is significant because this research widens contemporary assumptions about strategic thinking for individuals engaged in e-commerce.

ROLE OF AGRO-INDUSTRY IN BANGLADESH ECONOMY: AN EMPIRICAL ANALYSIS OF LINKAGES AND MULTIPLIERS

OpenAIRE

Quddus, Md. Abdul

2009-01-01

The study was undertaken to evaluate the contribution of agro-industry in the Bangladesh economy. The latest two input-output tables of the year 1993-94 and 2001-2002 in Bangladesh were used to calculate inter-industry linkage indices and multiplier effects. Agroindustry contributes a significant portion of national income and the prospect of employment generation is increasing at the higher extent for the sectors food processing, tanning and leather finishing, leather industry, saw milling a...

Establishing a framework for studying the emerging cislunar economy

Science.gov (United States)

Entrena Utrilla, Carlos Manuel

2017-12-01

Recent developments from the New Space industry have seen the appearance of a number of new companies interested in the creation of a self-sustained economy in cislunar space. Industries such as asteroid mining, Moon mining, and on-orbit manufacturing require the existence of a developed economy in space for the business cases to close in the long term, without the need to have the government as a permanent anchor customer. However, most studies and business plans do not consider the global picture of the cislunar economy, and only work with Earth-based activities when evaluating possible customers and competition. This work aims to set the framework for the study of the cislunar economy as a whole by identifying the market verticals that will form the basis of the economic activities in cislunar space, focusing on activities that create value in space for space. The prospective cislunar market verticals are identified based on a comprehensive review of current space activities and of proposed future business cases. This framework can be expanded in the future with evaluations of market sizes and relationships between verticals to inform business plans and investment decisions. The study was performed during the first two months in the summer of 2016 as part of the author's internship at NASA's Space Portal Office to complete the International Space University Master of Space Studies.

Reappraising the role of energy in the economy

Energy Technology Data Exchange (ETDEWEB)

Gross, Christian

2013-01-29

This dissertation is another step towards a better understanding of the role of energy in the economy. Although renowned theorists such as Cleveland et al. and Ayres and Warr argue that energy and GDP are strongly coupled, the evidence from an empirical perspective is often ambiguous. We address this pressing question from different angles, namely by means of metaregression techniques, by introducing important findings from strands of literature other than the empirical energy-growth literature, and by augmenting Baumol's cost disease model with energy-related parameters. All in all, we find that the way how the relationship between energy and growth has been investigated often underrates the importance of energy for our economic system. In Chapter 2 we conclude that the relationship between energy and GDP should be reconsidered from an empirical point of view, because the empirical evidence has systematically moved away from what can be considered a true effect from a theoretical point of view, namely that energy and GDP are closely related. In Chapter 3 we analyze the Granger causality between energy and growth in the U.S. for the period from 1970 to 2007 on the macro level as well as for the industry sector, the commercial sector, and the transport sector. For our analysis we used the recently developed ARDL bounds testing approach as proposed by Pesaran and Shin and Pesaran et al. In Chapter 4 we highlight the role that energy plays in the context of the growth of the ''service economy''. We distinguish three sectors in our analysis: industry, transport, and commercial services. The ''service economy'' is characterized by a dominant role of the commercial service sector in terms of value added and employment. In order to understand the importance of energy, disaggregating to the sectoral level is essential. Empirical tests which investigate the causality from energy consumption to economic growth at an aggregate

The Dynamic Coordinated Development of a Regional Environment-Tourism-Economy System: A Case Study from Western Hunan Province, China

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Yaoqing Yuan

2014-08-01

Full Text Available Based on regional coordination theory and system theory, the authors constructed an evaluation index system for the coordinated development of a regional environment-tourism-economy system with a pressure-state-response (PSR model. With a coordinated development model, it further empirically analyzed the coordinated development state of an environment-tourism-economy system in western Hunan from 2001 to 2012. The results showed that, although this environment-tourism-economy system failed to achieve a high benefit index, inter-subsystem coupling extent, and coordinated development index, the three indices presented an increasing overall trend. This outcome suggested that the sub-systems in this system were developing towards their optimal proportions: the development of these sub-systems (environmental, tourism, and economic was unbalanced in western Hunan. The environment therein sees only slow development although provided with a favorable ecological foundation. Economic development, which has long been lagging, acted as the main factor restricting the coordinated development of a regional environment-tourism-economy system. To promote its coordinated development in western Hunan, the following recommendations were proposed: strengthen the prediction and warnings on the evolution of the whole system; optimize the industry’s structure; reinforce environmental management.

Urban and regional studies in the experience economy

DEFF Research Database (Denmark)

Lorentzen, Anne; Jeannerat, Hugues

2013-01-01

is to deconstruct economic value and innovation in regional studies and elaborate on the role of consumers and stages of consumption. Another is the actor perspective and the question of how localized networks of innovative actors evolve and engage in experiential staging. Finally the experience economy is seen...... as an integrated approach in policy and strategic planning on as well as across different scales. Future research should not only trace the evolution of experience offerings, stages and destinations and its possible dependence on specific economic phases and contexts. It should also develop further the potentials......The paper introduces a special issue on `the experience turn in development and planning’. It is argued that the notion of the experience economy is able to challenge established theories of the culture economy in three ways. First, by placing consumption and consumers as point of departure...

Political Economy of Piracy in Somalia: Basis for a Transformative Approach

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Gilberto Carvalho de Oliveira

2010-12-01

Full Text Available This article examines the current wave of piracy off the coast of Somalia in light of political economy framework proposed by Michael Pugh and Neil Cooper. According to these authors, three types of economies flourish in protracted conflicts - combat economy, shadow economy, and coping economy - whose aims are, respectively, to finance combat activities, generate personal profits and provide minimum resources to the subsistence of poor and marginalized people. Based on empirical evidences showing that piracy in Somalia performs these three functions, one argues that the current international intervention against piracy is not sustainable because it does not seek to transform the factors and dynamics that make piracy an economically attractive alternative for local populations. For this reason, one proposes a shift on the Somali piracy agenda by adopting a critical perspective where piracy is no longer treated exclusively as a mere disruption of order at sea. Instead, one suggests a transformative approach where piracy is understood in its political economy dimension taking into account not only the local aspects, but also their regional links.

Development of Specialization Scales for the MSPI: A Comparison of Empirical and Inductive Strategies

Science.gov (United States)

Porfeli, Erik J.; Richard, George V.; Savickas, Mark L.

2010-01-01

An empirical measurement model for interest inventory construction uses internal criteria whereas an inductive measurement model uses external criteria. The empirical and inductive measurement models are compared and contrasted and then two models are assessed through tests of the effectiveness and economy of scales for the Medical Specialty…

The political economy of management knowledge : management texts in English healthcare organizations

OpenAIRE

Ferlie, Ewan; Ledger, Jean; Dopson, Sue; Fischer, Michael D.; Fitzgerald, Louise; McGivern, Gerry; Bennett, Christopher P.

2016-01-01

Have generic management texts and associated knowledges now extensively diffused into public services organizations? If so, why? Our empirical study of English healthcare organizations detects an extensive presence of such texts. We argue that their ready diffusion relates to two macro-level forces: (i) the influence of the underlying political economy of public services reform and (ii) a strongly developed business school/management consulting knowledge nexus. This macro perspective theoreti...

The Macroeconomic Impact of Ebola Virus Disease (Evd: A Contribution to the Empirics of Growth

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Obukohwo Oba Efayena

2016-04-01

Full Text Available The paper addressed the formulation of a macro model to capture the macroeconomic impact of the Ebola Virus Disease (EVD. Previous studies has adopted various models such as the dynamic computable general equilibrium (CGE model, endogenous model and the LINKAGE model, but there is dire need to generate a step-by-step model which will comprehensively capture how the Ebola Virus Disease (EVD impacts on macroeconomic variables. Adopting the traditional neoclassical growth model, the model aggregated the various macroeconomic variables as well as captured the epidemic’s strain on each of these variables. The paper also empirically shows that the Ebola Virus Disease (EVD has direct, indirect and deferred indirect cost implications for the economy. Using case studies of countries in Africa, the study evaluated how the Ebola Virus Disease (EVD has affected the macroeconomic status of selected economies. The findings imply that there is dire need to control the spread of the deadly plague. The paper contribute immensely to empirical studies in the field of macroeconomics.

Tax Evasion and the Shadow Economy

OpenAIRE

Oliver Reimers

2015-01-01

Leading scholars examine recent evidence from theoretical and empirical research on tax compliance and tax evasion, and provide an in-depth analysis of underlying methods. Strategies to fight tax evasion are evaluated and the motivations behind it are explored, as are the impact and size of the shadow economy in Europe. As well as promoting a better understanding of the issues, this book intends to stimulate further debate and, in so doing, broaden the exchange of ideas and concepts.

EMPIRICAL EVIDENCE ON DYNAMICS OF CREDIT GROWTH AND FOREIGN RESERVE

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Satrugan Sinah

2017-09-01

Full Text Available The paper presents a model for looking into the nature of change in foreign reserve from movements in domestic credit. This model is relevant to foreign reserve targeting, small and open economies. The model denotes that measures undertaken by central banks to constraint domestic credit growth with the view of controlling capital outflows will also be detrimental to foreign reserves level. The empirical studies with application of Fourier Transformation technique have been used to build a model, which shows that growth in domestic credit is more biased towards positive swings in foreign reserves, rather than being unfavorable. The small and open economies, particularly, the Pacific Island nations, have the right set up for application of this model to safeguard foreign reserves level.

The Political Economy of Healthcare Litigation : Model and Empirical Application to Uruguay

OpenAIRE

Corduneanu-Huci, Cristina; Hamilton, Alexander; Masses-Ferrer, Issel

2011-01-01

The political economy of health care is complex, as stakeholders have conflicting preferences over efficiency and equity. This paper formally models the preferences of consumer and producer groups involved in priority setting and judicialization in public health care. It uses a unique dataset of stakeholder perceptions, from Uruguay, to test whether these hypotheses are consistent with emp...

Unmasking decoupling: Redefining the Resource Intensity of the Economy.

Science.gov (United States)

Bithas, Kostas; Kalimeris, Panos

2018-04-01

Interest in investigating the complex link between resources and developments has revived recently following studies which support striking "dematerialized" growth over the last hundred years or so. This so-called decoupling effect is defined as the declining quantity of resources required for producing one unit of GDP. Decoupling studies adopt aggregate GDP as the measure of the outcome of the economy. However, this outcome is contributed by the total population which differs over time and between countries. A valid comparison should use a comparable, standardized indicator that adjusts for population size. GDP per capita, the income index, defines in monetary terms the ultimate outcome of the economy and is adopted by international organizations as the standard index for comparing economies. The income index approximates, in monetary terms, the welfare produced by the economic system and enjoyed by individuals. Recently developed alternative indexes of welfare lack broad data coverage and have limited empirical application as yet. For this reason and for ensuring direct comparison with the standard decoupling estimates, our study remains within the monetary context. The present paper re-evaluates the resources-economy link from the perspective of "the resources required for the production of one unit of GDP per capita (Income)" and hence evaluates the efficiency of turning resources into the actual outcome of the economic system. Our estimates suggest that the dependence of global economic growth on natural resources has increased by over 60% in the last 110years (1900-2009), contrasting with the prevailing decoupling estimates which suggest a reduction by 63%. We find that the actual decoupling, which began in the mid-1970s in post-industrial economies, is counterbalanced by the intensified resource intensity of several developing economies. Accordingly, in the pursuit of sustainability, the dematerialization target needs to be more clearly incorporated into

Intuition in Decision Making –Theoretical and Empirical Aspects

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Kamila Malewska

2015-11-01

Full Text Available In an economy dominated by information and knowledge, analysis ceases to be the sole and sufficient source of knowledge. Managers seek alternative ways of obtaining and interpreting information and knowledge. Here, managerial intuitive potential begins to play an important role. The aim of this paper is to present the issue of intuition in decision making in both theoretical and empirical terms. The first part presents the essence of intuition and its role in management, especially in decision making. Then, the empirical part attempts to identify the intuitive potential of managers and the extent of its use in practical decision making. The case study method was used in order to achieve this goal. The analysis involved a Polish food company “Fawor” that employs more than 300 workers. These literature and empirical studies in the area of intuition were conducted within the research project „The impact of managerial intuitive potential on the effectiveness of decision making processes”, financed by the National Science Centre, Poland (funds allocated on the basis of decision No. DEC-2014/13/D/HS4/01750

An empirical study of desired versus actual compensation practices in determining intrapreneurial behaviour

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Ugochukwu O. Madu

2014-08-01

Full Text Available Orientation: Past research recognises that human resources management practices may influence innovative behaviour, particularly as compensation systems can be used as a tool to increase intrapreneurial activity. Research purpose: The aim of this study is to determine the relationship between actual versus desired compensation practices and elevated intrapreneurial behaviour. This is in line with research that focuses on how to promote business innovation, rather than merely research whether innovation is desirable for businesses or not. Motivation for the study: Recognising that entrepreneurial actions are the bedrock of intrapreneurial behaviour and that these behaviours may be critical to the long-term vitality of a firm and economy, it is important to facilitate the empirical study of them in an underresearched, emerging market environment. Moreover, compensation such as reward preferences and variable pay schemes remain controversial in terms of their costs versus contributions, and these constructs deserve more empirical research. Research approach, design and method: The study employed a quantitative research design, using a cross-sectional and empirical approach with primary data sources. A structured webbased instrument rendered a sample of 209 respondents from a diverse set of businesses. Canonical correlational analysis was carried out to test the hypotheses. Main findings: The results reveal that a gap exists between an employee’s perception of desired compensation practices and the actual compensation practices. The results further highlight that non-outcome-based measures like pay risk, job risk and expectations of success play a role in determining whether employees decide to be intrapreneurial or not. Practical/managerial implications: Due to the potential impact rewards have on intrapreneurial behaviour, it is necessary to design relevant compensation systems as part of organisational architecture in order to foster

The relationship between oil price shocks and China's macro-economy. An empirical analysis

International Nuclear Information System (INIS)

Du, Limin; Yanan, He; Wei; Chu

2010-01-01

This paper investigates the relationship between the world oil price and China's macro-economy based on a monthly time series from 1995:1 to 2008:12, using the method of multivariate vector autoregression (VAR). The results show that the world oil price affects the economic growth and inflation of China significantly, and the impact is non-linear. On the other hand, China's economic activity fails to affect the world oil price, which means that the world oil price is still exogenous with respect to China's macro-economy in time series sense, and China has not yet had an oil pricing power in the world oil markets. The structural stability tests demonstrate that there is a structural break in the VAR model because of the reforms of China's oil pricing mechanism, thus it is more appropriate to break the whole sample into different sub-samples for the estimation of the model. (author)

Economic Growth and the Environment. An empirical analysis

Energy Technology Data Exchange (ETDEWEB)

De Bruyn, S.M.

1999-12-21

A number of economists have claimed that economic growth benefits environmental quality as it raises political support and financial means for environmental policy measures. Since the early 1990s this view has increasingly been supported by empirical evidence that has challenged the traditional belief held by environmentalists that economic growth degrades the environment. This study investigates the relationship between economic growth and environmental quality and elaborates the question whether economic growth can be combined with a reduced demand for natural resources. Various hypotheses on this relationship are described and empirically tested for a number of indicators of environmental pressure. The outcome of the tests advocates the use of alternative models for estimation that alter conclusions about the relationship between economic growth and the environment and give insight into the driving forces of emission reduction in developed economies. refs.

An Empirical Study of the Impact of the Air Transportation Industry Energy Conservation and Emission Reduction Projects on the Local Economy in China

Science.gov (United States)

Chen, Yuxiu; Yu, Jian; Li, Li; Li, Linlin; Li, Long; Zhou, Jie; Chen, Quan

2018-01-01

Green development has been of particular interest to a range of industries worldwide, one of which being the air transportation industry (ATI). The energy conservation and emission reduction (ECER) projects of the ATI have a huge impact on the local economy. In this study, the input-output method was used to analyze the indirect economic impact of the implementation of the ECER projects of the ATI on the local economy of the Beijing-Tianjin-Hebei (BTH) region. We examined the direct benefits, backward spread effects, forward spread effects, and consumption multiplier effects. The final results showed that the comprehensive economic income from 2011–2013 in the BTH region reached RMB 4.74 billion. The results revealed that the ECER projects commissioned by the ATI were worth investing from both the economic and social benefits perspectives. To increase the green development effects and promote the sustainable development of the ATI, the special funds provided by the Civil Aviation Administration of China should be invested intensively in basic green technology research and setting green regulating and governance rules. PMID:29677160

An Empirical Study of the Impact of the Air Transportation Industry Energy Conservation and Emission Reduction Projects on the Local Economy in China.

Science.gov (United States)

Chen, Yuxiu; Yu, Jian; Li, Li; Li, Linlin; Li, Long; Zhou, Jie; Tsai, Sang-Bing; Chen, Quan

2018-04-20

Green development has been of particular interest to a range of industries worldwide, one of which being the air transportation industry (ATI). The energy conservation and emission reduction (ECER) projects of the ATI have a huge impact on the local economy. In this study, the input-output method was used to analyze the indirect economic impact of the implementation of the ECER projects of the ATI on the local economy of the Beijing-Tianjin-Hebei (BTH) region. We examined the direct benefits, backward spread effects, forward spread effects, and consumption multiplier effects. The final results showed that the comprehensive economic income from 2011⁻2013 in the BTH region reached RMB 4.74 billion. The results revealed that the ECER projects commissioned by the ATI were worth investing from both the economic and social benefits perspectives. To increase the green development effects and promote the sustainable development of the ATI, the special funds provided by the Civil Aviation Administration of China should be invested intensively in basic green technology research and setting green regulating and governance rules.

An Empirical Study of the Impact of the Air Transportation Industry Energy Conservation and Emission Reduction Projects on the Local Economy in China

Directory of Open Access Journals (Sweden)

Yuxiu Chen

2018-04-01

Full Text Available Green development has been of particular interest to a range of industries worldwide, one of which being the air transportation industry (ATI. The energy conservation and emission reduction (ECER projects of the ATI have a huge impact on the local economy. In this study, the input-output method was used to analyze the indirect economic impact of the implementation of the ECER projects of the ATI on the local economy of the Beijing-Tianjin-Hebei (BTH region. We examined the direct benefits, backward spread effects, forward spread effects, and consumption multiplier effects. The final results showed that the comprehensive economic income from 2011–2013 in the BTH region reached RMB 4.74 billion. The results revealed that the ECER projects commissioned by the ATI were worth investing from both the economic and social benefits perspectives. To increase the green development effects and promote the sustainable development of the ATI, the special funds provided by the Civil Aviation Administration of China should be invested intensively in basic green technology research and setting green regulating and governance rules.

Measuring the quality of e-banking portals: an empirical investigation

OpenAIRE

Bauer, Hans H.; Hammerschmidt, Maik; Falk, Tomas

2005-01-01

Purpose – In the internet economy, the business model of web portals has spread rapidly over the last few years. Despite this, there have been very few scholarly investigations into the services and characteristics that transform a web site into a portal as well as into the dimensions that determine the customer's evaluation of the portal's service quality. Design/ methodology/ approach – Based on an empirical study in the field of e-banking, the authors validate a measurement ...

Double-dividend analysis with SCREEN: an empirical study for Switzerland

International Nuclear Information System (INIS)

Frei, Christoph W.; Haldi, Pierre-Andre; Sarlos, Gerard

2005-01-01

This paper presents an empirical study that quantifies the effects of an ecological fiscal reform as recently rejected by the Swiss population. The measure aims to encourage employment and, at the same time, to dissuade from an excessive energy use and thereby decrease energy-induced external costs (CO 2 , etc.). The analysis is based on the model SCREEN, a general equilibrium model using the complementarity format for the hybrid description of economy-wide production possibilities where the electricity sector is represented by a bottom-up activity analysis and the other production sectors are characterised by top-down production functions. A dynamic formulation of the activity analysis of technologies allows for the reproduction of endogenous structural change (see Frei, C.W., Haldi, P.-A., Sarlos, G., 2003. Dynamic formulation of a top-down and bottom-up merging energy policy model. Energy Policy 31 (10), 1017-1031.). The labour market is formulated according to the microeconomically founded efficiency wages and calibrated for Switzerland. The study includes the development of a consistent set of top-down, bottom-up and labour data for Switzerland. The collection of bottom-up data on the electricity sector, just before liberalisation, was not easy. The electricity sector characterising data was prepared, based on original statistics about 140 Swiss electricity companies

Appraisal of the Impact of e-Banking and Cashless Society in the Nigerian Economy

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Umanhonlen O. Felix

2015-09-01

Full Text Available The article appraises the impact of e-banking and cashless society in the Nigerian economy. The study explores various aspects of e-banking and cashless economy using the banking sector of the Nigerian economy as a focal point. Specifically, the paper articulates empirical opinions that highlight the possible ways these policy measures have direct links to beneficiaries and the weighted outcomes when divergence is noticed and how to bring back the soundness, sustainable and rebranding policy that ensures economic growth. The paper holds that for a sustainable cashless society to emerge all hands must be on desk; banks should de-emphasize all odds and ensure that efficiencies of e-banking mechanisms are of utmost priority. It, therefore, recommends that adequate plans be in place to sensitize the general public about the effects and lay down procedures to check possible drawbacks. It, however, concludes by imploring all avenues and reports that relevant agency, service providers, operators, and those who have direct access to information to advocate as timely as when necessary about the implicit needs and benefits behind the cashless economy.

Waste Picker Organizations and Their Contribution to the Circular Economy: Two Case Studies from a Global South Perspective

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Jutta Gutberlet

2017-09-01

Full Text Available The discussion on the circular economy (CE has attracted a rising interest within global policy and business as a way of increasing the sustainability of production and consumption. Yet the literature mostly portrays a Global North perspective. There is a diverse spectrum of community-based organizations playing important roles in resource recovery and transformation, particularly, but not only, in Global South countries, providing innovative examples for grassroots involvement in waste management and in the CE. This article proposes to add a Southern lens, situated in the context of waste picker organizations, to the concept of CE. The discursive framework in this article couples ecological economy (EE with social/solidarity economy (SSE, focusing not only on environmental sustainability but also on social, economic, political and cultural dimensions involved in production, consumption and discard. We acknowledge that grassroots movements contribute to policy making and improve urban waste management systems. The paper outlines two empirical studies (Argentina, Brazil that illustrate how waste picker organizations perform selective waste collection services, engage with municipalities and industries, and practice the CE. The research reveals that social and political facets need to be added to the debate about the CE, linking environmental management and policy with community development and recognizing waste pickers as protagonists in the CE. Our findings emphasize a need for a change of persisting inequalities in public policy by recognizing the importance of popular waste management praxis and knowledge, ultimately redefining the CE.

TIME HORIZON AND UNCOVERED INTEREST PARITY IN EMERGING ECONOMIES

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Norlida Hanim Mohd Salleh

2011-07-01

Full Text Available The aim of this study is to re-examine the well-known empirical puzzle of uncovered interest parity (UIP for emerging market economies with different prediction time horizons. The empirical results obtained using dynamic panel and time series techniques for monthly data from January 1995 to December 2009 eventually show that the panel data estimates are more powerful than those obtained by applying individual time series estimations and the significant contribution of the exchange rate prediction horizons in determining the status of UIP. This finding reveals that at the longer time horizon, the model has better econometric specification and thus more predictive power for exchange rate movements compared to the shorter time period. The findings can also be a signalling of well-integrated currency markets and a reliable guide to international investors as well as for the orderly conduct of monetary authorities.

Windows on Empire: Perspectives from History, Culture and Political Economy (roundtable discussion

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Alex Colas

2010-01-01

Full Text Available At the start of the new century notions of Empire and imperialism had all but disappeared from the lexicon of western humanities. Washington’s ‘war on terror’ and the accompanying invasion ofAfghanistan and Iraq, coupled with the publishing sensation that was Hardt and Negri’s Empire suddenly reversed this neglect. Questions of political hierarchy, military competition and socioeconomicdomination which had apparently disappeared from the world stage with the end of the Cold War have returned with a vengeance. In recent years, the most innovative scholarship and trenchant political interventions in the humanities have arguably emerged from engagements with such questions, offering a fresh range of concepts, analyses and interpretations on the place of Empire and imperialism in our world today. Sanjay Seth is Professor in the department of politics at Goldsmiths, University of London. Leo Panitch is Distinguished Research Professor of Political Science at York University. Saskia Sassen is Professor of Sociology at Columbia University and the London School of Economics. She is also a member of the Committee on Global Thought. Christian Marazzi is Professor and Director of Socio-Economic Research at the Scuola Universitaria della Svizzera Italiana. The roundtable is chaired by Alex Colás, who is Senior Lecturer in International Relations at Birkbeck, University of London.

An Empirical Study on the Driving Path of Optimizing the Resources Allocation of Foreign Trade Enterprises from the Perspective of Energy Supply-side Reform

Science.gov (United States)

You, Yu-cong; Yi, Lu-xia

2017-11-01

From the perspective of energy supply-side reform, this paper, by conducting an empirical study on foreign trade enterprises, conducts a research on the cross-role effect of optimizing the resources allocation and enhancing the energy efficiency. Methodologically, this paper creatively introduces the HILE's probabilistic structured property into Granger causality test analysis, forming an HILE-Granger (H-G) model, so as to empirically estimate both the short-term and long-term causal relationship effects between the energy efficiency and resources allocation. Conclusion is drawn that optimization of resources allocation is positively proportional with the energy efficiency enhancement. This paper is to provide a decision-making reference for the supply side reform strategy of foreign trade enterprises under the background of green energy economy.

Exchange rate pass-through inflation and wage differentials in late-industrializing economies: the Mexican case

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Teresa S. López

2012-12-01

Full Text Available This paper investigates exchange rate pass-through inflation, and the wage bargaining process, in a developing economy in which firms' market power is largely dependent on technical progress embodied in imported intermediates and capital goods. It develops a heterodox model of income distribution, based on theoretical contributions from Latin American structuralists, labor market segmentationists and post-Keynesian writers, and it presents supportive empirical evidence from the Mexican economy.

LINS Curve in Romanian Economy

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Emilian Dobrescu

2016-02-01

Full Text Available The paper presents theoretical considerations and empirical evidence to test the validity of the Laffer in Narrower Sense (LINS curve as a parabola with a maximum. Attention is focused on the so-called legal-effective tax gap (letg. The econometric application is based on statistical data (1990-2013 for Romania as an emerging European economy. Three cointegrating regressions (fully modified least squares, canonical cointegrating regression and dynamic least squares and three algorithms, which are based on instrumental variables (two-stage least squares, generalized method of moments, and limited information maximum likelihood, are involved.

On the creative economy chain in Brazil: potential and challenges

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ANITA KON

2016-03-01

Full Text Available ABSTRACT The article presents an analysis of the Creative Economy in Brazil, showing its development potential for the generation of income and employment, in order to the country's development resumption. They are initially presented concepts and features of the Creative Economy for, in sequence, to analyze the economic development profile and potential of this industry in Brazil. The empirical part introduces some methodological aspects, in continuing with the analysis of the creative chain contribution to the generation of Value Added and employment in the country, and a vision of their foreign trade.potential. Finally, the challenges to the implementation of public policies are investigated.

Rentierism in the Algerian economy based on oil and natural gas

International Nuclear Information System (INIS)

Machin Alvarez, Alejandra

2010-01-01

This essay analyzes Algeria's degree of adaptation toward possessing the constituent features of an oil and gas rentier economy, and whether its current status could be threatened by changes to its energy policy. With this aim, the article first uses empirical evidence to analyze different rentier features of the Algerian economy (the importance of the hydrocarbon sector, Algerian NOC Sonatrach's role in energy policy and revenue distribution). Second, the circuit that perpetuates rentier logic is described, the main conclusion being that the Algerian economy does indeed offer the very conditions that guarantee the self-perpetuation of rentierism. However, this conclusion is jeopardized by uncertainties stemming from two potential changes in the national status of the hydrocarbons sector: a greater presence of foreign hydrocarbon companies in Algeria, and growing internationalization by Sonatrach.

Profit rates in the developed capitalist economies: a time series investigation

Directory of Open Access Journals (Sweden)

Ivan D. Trofimov

2017-06-01

Full Text Available This paper examines whether there is empirical evidence to support the hypothesis of a secular decline in the economy-wide profit rates, as predicted by classical economic theories. We specifically consider profit rates in the OECD economies based on the national accounts data contained in the Extended Penn World Table database. We use linear trend, Augmented Dickey-Fuller (ADF tests, and allow for structural breaks and instabilities in the series. Our results suggest that profit rates in OECD economies exhibited a variety of patterns, including stochastic and deterministic trends, random walk, reversals, as well as stability. The secular decline (fluctuation around a falling deterministic trend hypothesis is supported for Canada, Portugal and the USA, while secular rise is witnessed for Greece and Norway. JEL Classification: B5, C22, P17

CREATIVE ECONOMY: A NEW CADRE FOR MEDIA INDUSTRY

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Daniel Burtic

2014-07-01

Full Text Available We wonder why the creative economy concept causes so much passion, excitement and so high expectations. Because imagination, creativity, competence, fantasy, individual talent, ingenuity were and still are today catalysts that led to society development. How does creative economy, that seems to promise so much, distinguish from other economic stamps which imprinted the human community in the course of history? These are some of the questions we will try to answer in this paper work, having in mind as objective the study of communication processes and mass-media. Generally, the research over mass-media system considered that the content analysis may provide the means to understand the society we live in. In terms of methodology, starting from the observation of mass-media industry and economy actuality, we propose to make an analysis of content. We will raise issues regarding concept definition and delimitation, historical development and media industry analysis from an economical perspective, analyzing the opinions of some other researchers about these subjects. We will try to present the concepts we support having in light some reference paper works and to illustrate with realities from Romanian and international mass-media economy. We will go through literature and we will try to support with empirical data the subjects discussed in theory. To achieve these things, we will use relevant statistical and official data of other researchers. In the examination of mass-media economy we will study economical models, comparative analysis and analysis of international organizations positions. In the current situation, mass-media is part of a technological and economic transformation, like the whole society is. An economical approach of media industry is important today both from the scientific and practical point of view. Most of the decisions taken by the factors that lead the businesses in media sector are largely influenced by financial resources

Social Capital, Economic Growth and Transition Economies

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard

1998-01-01

transactions to take place without third-party enforcement. Theory and lessons from empirical evidence lead to three general recommendations for building social capital in the future: First, the state must withdraw and minimize its role in the economy so to leave room for voluntary organization and free......Summary: What does social capital mean and how can it be built? Social capital is considered as a new production factor which must be added to the conventional concepts of human and physical capital. Social capital is productive because it increases the level of trust in a society and allows more......-trade. Second, state withdrawal should be combined with efforts to increase economic growth and gain popular support for the implementation of reforms. Third, voluntary groups, beneficial to the economy, should not be institutionalized to prevent them from turning into harmful rent-seeking groups....

Empirical Investigation into the Determinants of Compliance with IFRS 7 Disclosure Requirements

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Atanasko Atanasovski

2015-04-01

Full Text Available The purpose of this paper is to assess the quality of disclosures related to financial instruments provided in annual financial statements of Macedonian listed companies and empirically investigate factors that have the potential to influence the quality of these disclosures in accordance with IFRS 7 requirements. Based on the postulates and the results of the empirical investigations of prior IAS compliance studies I have constructed a disclosure index for each listed company and performed regression analysis with independent variables representing some characteristics of listed companies investigated, such as their size, industry, type of auditor engaged, ownership concentration, profitability and leverage. My regression analysis results supported the conclusion that the level of compliance with IFRS 7 requirements is related to the type of auditor engaged and ownership concentration in investigated companies. The results of my research will contribute the large body of empirical studies on IFRS disclosure and compliance, providing evidence from South- East European Transitional Economy that adopted IFRS as national financial reporting framework.

The social theories of classical political economy and modern economic policy

NARCIS (Netherlands)

Menger, C. (Carl); E. Dekker (Erwin); S. Kolev (Stefan)

2016-01-01

textabstractThis is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse. Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on

Economies of Scope in Distance Education: The Case of Chinese Research Universities

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Fengliang Li

2012-06-01

Full Text Available With the rapid development of information technologies, distance education has become “another form of product differentiation in the output mix produced by the multi-product university or college” (Cohn & Cooper, 2004, p. 607. This article aims at analyzing the economies of scope of distance education (as an educational output in Chinese research universities. The empirical results show that a product-specific economies of scope do exist in distance education programs offered by Chinese research universities; b there are economies of scale in distance education; and c there are weak cost complementarities between distance education and research output, meaning that distance education and academic research can promote each other to reduce the costs in Chinese research universities.

EMPIRICAL RESEARCH ON THE CHARACTERISTICS OF CLUSTERS IN ROMANIA AND THE IMPACT ON THE ENTREPRENEURIAL ENVIRONMENT

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Tudor NISTORESCU

2017-05-01

Full Text Available The present research focuses on the empirical study about the features of clusters in Romania and its impact on business environment. In the scientific approach we tested five research hypotheses which have been validated. Methodological framework included as main instruments: questionnaires, semi-structured interviews with persons who represent the clusters, studies reported in the specialized literature, studies conducted in other projects, examples of best practice from countries with advanced economies. Findings which emerged from our empirical research, as a result of processing of data collection from respondents, may be useful to persons who manage clusters and decision-making authorities at regional and even national level.

An Empirical Assessment of the Proximity-Concentration Tradeoff between Multinational Sales and Trade

OpenAIRE

S. Lael Brainard

1993-01-01

This paper empirically investigates the role of transport costs, trade and investment barriers, production scale economies, and firm- specific advantages in determining the use of overseas production relative to exports. The proximity-concentration hypothesis is robust in explaining the share of total sales accounted for by affiliate sales: this share is greater the higher are transport costs and trade barriers and the lower are plant scale economies and investment barriers. Although strictly...

Youth entrepreneurship and new economy

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Željko Pavić

2008-12-01

Full Text Available This paper starts with a theoretical analysis of changes, which are usually designated as the new economy. These changes are characterized by globalization, more intensive use of information technology and other important structural changes. Multidimensional character of the entrepreneurship phenomenon and its role in economic development and social integration are emphasized. The youth represent a social group, which is, due to its transitional attributes and developments in the labour market, in particularly vulnerable position in the new economy. This position could be improved through activation of the entrepreneurial potential of the youth. In order to estimate entrepreneurial potential and its determinants an empirical research is carried out on a cluster sample of 200 high-school students and 200 university students in Osijek. The results of the research show relatively high entrepreneurial aspiration of the youth, but they also show the negative impact of the lack of financial means and the unfavourable sociocultural conditions. The results also confirmed the importance of the entrepreneurial family background and sex as the significant determinants of entrepreneurial aspirations.

Comparative empirical analysis of temporal relationships between construction investment and economic growth in the United States

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Navid Ahmadi

2017-09-01

Full Text Available The majority of policymakers believe that investments in construction infrastructure would boost the economy of the United States (U.S.. They also assume that construction investment in infrastructure has similar impact on the economies of different U.S. states. In contrast, there have been studies showing the negative impact of construction activities on the economy. However, there has not been any research attempt to empirically test the temporal relationships between construction investment and economic growth in the U.S. states, to determine the longitudinal impact of construction investment on the economy of each state. The objective of this study is to investigate whether Construction Value Added (CVA is the leading (or lagging indicator of real Gross Domestic Product (real GDP for every individual state of the U.S. using empirical time series tests. The results of Granger causality tests showed that CVA is a leading indicator of state real GDP in 18 states and the District of Columbia; real GDP is a leading indicator of CVA in 10 states and the District of Columbia. There is a bidirectional relationship between CVA and real GDP in 5 states and the District of Columbia. In 8 states and the District of Columbia, not only do CVA and real GDP have leading/lagging relationships, but they are also cointegrated. These results highlight the important role of the construction industry in these states. The results also show that leading (or lagging lengths vary for different states. The results of the comparative empirical analysis reject the hypothesis that CVA is a leading indicator of real GDP in the states with the highest shares of construction in the real GDP. The findings of this research contribute to the state of knowledge by quantifying the temporal relationships between construction investment and economic growth in the U.S. states. It is expected that the results help policymakers better understand the impact of construction investment

Empirical Estimates in Stochastic Optimization via Distribution Tails

Czech Academy of Sciences Publication Activity Database

Kaňková, Vlasta

2010-01-01

Roč. 46, č. 3 (2010), s. 459-471 ISSN 0023-5954. [International Conference on Mathematical Methods in Economy and Industry. České Budějovice, 15.06.2009-18.06.2009] R&D Projects: GA ČR GA402/07/1113; GA ČR(CZ) GA402/08/0107; GA MŠk(CZ) LC06075 Institutional research plan: CEZ:AV0Z10750506 Keywords : Stochastic programming problems * Stability * Wasserstein metric * L_1 norm * Lipschitz property * Empirical estimates * Convergence rate * Exponential tails * Heavy tails * Pareto distribution * Risk functional * Empirical quantiles Subject RIV: BB - Applied Statistics, Operational Research Impact factor: 0.461, year: 2010

Intermediation by Banks and Economic Growth: A Review of Empirical Evidence

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Marijana Bađun

2009-06-01

Full Text Available This paper provides a review of empirical research on the link between financial intermediation by banks and economic growth. Special attention is paid to the issues of causality, non-linearity, time perspective, financial intermediation proxies, and interaction terms. The review shows that there are still quite a few unresolved issues in empirical research, which causes scepticism towards prioritizing financial sector policies in order to cause economic growth. Progress in the finance and growth literature is slow and researchers seem to go round in circles. A possibly fruitful direction for future empirical research is the relationship between government and banks, especially from the standpoint of political economy.

EMERGING CITIES ON THE ARABIAN PENINSULA: URBAN SPACE IN THE KNOWLEDGE ECONOMY CONTEXT

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Alain Thierstein

2008-07-01

Full Text Available Networks of the growing knowledge economy significantly influence spatial development on different scales. This paper proposes a framework for analyzing the impact of global knowledge economy networks on the rapidly developing urban space of emerging cities on the Arabian Peninsula, and vice versa. Two aspects of the described research are innovative: First, a global relational geography-perspective builds the basis for approaching the analysis of urban space development in emerging cities on the Arabian Peninsula. Second, the empirical methodology of the research project is a newly defined method triangulation, setting an example for systematic analysis of local urban development in a global context. The method triangulation combines three different research angles: A knowledge economy firm perspective, an on-site observation perspective and a planner perspective. The method triangulation defines the procedure for the research application in selected case study cities on the Arabian Peninsula. Initial results from applying the research methodology in the city of Dubai give a first indication, that emerging cities on the Arabian Peninsula play a significant role in the global and regional knowledge economy networks. Locally developed urban spaces reflect and influence the significance of cities in the global knowledge economy context. Especially the global visibility of urban spaces on a city district scale, which specifically address the needs of knowledge economy players, contributes significantly to the attractiveness of emerging cities on the Arabian Peninsula.

Institutional Aspects of integration of Russian Empire in XIX century

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Alexander N. Dubyanskiy

2017-09-01

Full Text Available The current situation in the world is characterized by the fact that there is another wave of changes to state borders, almost like after the second world war. Among the transforming States no classical empires, but the experience of building a large state formations can be used for understanding what needs to be done to preserve the integrity of States. This article addresses the question of institutional conditions of integration of economic space in the Russia of the XIX century. If we understand economy as "an institutionalized process" movement of material goods and transactions that link economic acts in the sphere of exchange makes this process stability and integrates it into the system companies. The authors considered promising idea Polanyi's three forms of integration or sharing that reproduce the economy as a whole, for the conducting institutional analysis of economy of the Russian Empire of the XIX century. We are talking about market exchange, redistribution (redistribution and of reciprocity (reciprocity, gift exchange. In this aspect, the Russian economy has not yet considered in the economic literature. The main method used institutional analysis and the historical method of research. The materials contained in the work, can be used to consider contemporary problems of integration of heterogeneous economic space. Found that to ensure the system coherence of the society and co-storage state, it is necessary to implement long-term goals in the form of Large projects. The authors consider such projects in the symbolic context of maintaining the legitimacy of power and, in purely economic aspect.

Open-Economy Macroeconomics, Developments in Theory and Policy

OpenAIRE

Maurice Obstfeld

1999-01-01

This paper surveys recent research in open-economy macroeconomics, using questions raised by European economic and monetary unification to guide the topics discussed. A striking empirical regularity is the tendency for changes in the nominal exchange rate regime systematically to affect the variability of nominal and real exchange rates alike. This regularity (which disappears in high-inflation conditions) can be explained by sticky-price theories or by models of asset-market liquidity effect...

Educating Future Energy Engineers for Sustainability: Case Study in Energy Economy

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Şiir Kilkiş

2015-03-01

Full Text Available This paper analyzes the case study of an interdisciplinary course in Energy Economy that was developed at the Energy Engineering Graduate Program at Başkent University. The course integrated several unique pedagogical features to satisfy the aim of developing a working knowledge in energy economy with an energy systems perspective. The novel aspects of the course thematically led to a capstone research project where 5 teams of 17 course participants analyzed their prioritized solutions towards improving the energy self-sufficiency of the campus based on the practice of energy economy. The results of the teams’ solutions towards a net-zero energy/exergy campus included electric buses for city-campus transport, poly-generation for the new Arts Center, LED/OLED lighting for campus lighting, dynamo driven/piezoelectric sports center, biofuels from the university-owned dairy products farm, and an energy efficient technology incubation center. This unique course with participatory learning is compared with others before concluding that the case study is a useful international example for energy economy.

Empirical Studies of Contemporaneous Banking Research

OpenAIRE

Reeg, Johannes

2017-01-01

Banks perform important functions for the economy. Besides financial intermediation, banks provide information, liquidity, maturity- and risk-transformation (Fama, 1985). Banks ensure the transfer of liquidity from depositors to the most profitable investment projects. In addition, they perform important screening and monitoring services over investments hence contributing steadily to the efficient allocation of resources across the economy (Pathan and Faff, 2013). Since banks provide financi...

Rentierism in the Algerian economy based on oil and natural gas

Energy Technology Data Exchange (ETDEWEB)

Machin Alvarez, Alejandra [Grupo de Investigacion sobre Economia Politica de la Mundializacion, Departamento de Economia Aplicada I, Facultad de Ciencias Economicas y Empresariales, Universidad Complutense de Madrid, Campus de Somosaguas, 28223 Madrid (Spain)

2010-10-15

This essay analyzes Algeria's degree of adaptation toward possessing the constituent features of an oil and gas rentier economy, and whether its current status could be threatened by changes to its energy policy. With this aim, the article first uses empirical evidence to analyze different rentier features of the Algerian economy (the importance of the hydrocarbon sector, Algerian NOC Sonatrach's role in energy policy and revenue distribution). Second, the circuit that perpetuates rentier logic is described, the main conclusion being that the Algerian economy does indeed offer the very conditions that guarantee the self-perpetuation of rentierism. However, this conclusion is jeopardized by uncertainties stemming from two potential changes in the national status of the hydrocarbons sector: a greater presence of foreign hydrocarbon companies in Algeria, and growing internationalization by Sonatrach. (author)

An empirical study to find important factors on building national brand: An Iranian tourism case study

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Abolghasem Hakimipour

2012-09-01

Full Text Available Building national brand plays an important role on today's economy to attract interested tourists in visiting various countries. There are different factors impacting national brand such as advertisement, natural attraction, etc. In this paper, we perform an empirical investigation to find the impact of ten most important factors on building brand. The study designs and distributes a questionnaire among 384 international tourists who visited Iran during the year of 2010 and it uses factor analysis to group important factors. The results extract four groups; the first factor includes three most important components including satellite advertisement programs, public awareness on economical power and public awareness on specialized symposium and conferences. The second factor includes three other important factors, which are public awareness on human right, advertisement programs through distribution brushers and internet advertisement. The third factor includes two variables, which are public awareness on education and access to educational services and introducing cultural heritage. Finally, the last factor includes introducing natural attraction and advertisement programs through distribution brushers.

Do Monetary, Fiscal and Financial Institutions Really Matter for Inflation Targeting in Emerging Market Economies?

OpenAIRE

Seedwell Hove; Albert Touna Mama; Fulbert Tchana Tchana

2011-01-01

Most emerging market economies (EMEs) which have implemented inflation targeting (IT) have continued to experience large, frequent and sometimes persistent inflation target misses. At the same time these countries had reformed their institutional structures when implementing IT. In this paper we empirically study the importance of central bank independence, fiscal discipline and financial sector development for the achievement of inflation targets in EMEs using the panel ordered logit model. ...

FROM CIRCULAR ECONOMY TO BLUE ECONOMY

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Iustin-Emanuel, ALEXANDRU

2014-11-01

Full Text Available Addressing the subject of this essay is based on the background ideas generated by a new branch of science - Biomimicry. According to European Commissioner for the Environment, "Nature is the perfect model of circular economy". Therefore, by imitating nature, we are witnessing a process of cycle redesign: production-consumption-recycling. The authors present some reflections on the European Commission's decision to adopt after July 1, 2014 new measures concerning the development of more circular economies. Starting from the principles of Ecolonomy, which is based on the whole living paradigm, this paper argues for the development within each economy of entrepreneurial policies related to the Blue economy. In its turn, Blue economy is based on scientific analyses that identify the best solutions in a business. Thus, formation of social capital will lead to healthier and cheaper products, which will stimulate entrepreneurship. Blue economy is another way of thinking economic practice and is a new model of business design. It is a healthy, sustainable business, designed for people. In fact, it is the core of the whole living paradigm through which, towards 2020, circular economy will grow more and more.

Happiness Function in an Islamic Economy: Triple Economic Growth, Fair Distribution and Human Happiness

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محمد أحمد حسن الأفندي

2017-12-01

Full Text Available This study investigated the characteristics of happiness function in an Islamic economy framework. It analyzed the nature and trend of the link between economic growth, equal distribution and level of human happiness. These interrelated concepts form the essence of this study problem. The study assumed four main possible tracks for the happiness function in an Islamic economy, which ultimately emphasized the wider concept of happiness that includes faith and moral values. It indicates that people’s happiness increases with the increase of material and non material resources. However, happiness increases even if material resources decline. That is a case which reflects impact of faith and moral values on people’s happiness. The study indicated the importance of conducting empirical and field studies to examine the effect of material and non- material potentials on happiness. Keywords: Happiness function, Material resources for Happiness, Nonmaterial resources for happiness, Economic growth, Equal distribution.

An Empirical Analysis of the Impact of Capital Market Activities on ...

African Journals Online (AJOL)

An Empirical Analysis of the Impact of Capital Market Activities on the Nigerian Economy. ... Others include the expansion of the stock market in terms of depth and breadth and the attraction of foreign direct investment and foreign portfolio investment into the Nigerian economic landscape. Keywords: Nigeria, Market ...

Collaborative Economy

DEFF Research Database (Denmark)

collaborative economy and tourism Dianne Dredge and Szilvia Gyimóthy PART I - Theoretical explorations 2.Definitions and mapping the landscape in the collaborative economy Szilvia Gyimóthy and Dianne Dredge 3.Business models of the collaborative economy Szilvia Gyimóthy 4.Responsibility and care...... in the collaborative economy Dianne Dredge 5.Networked cultures in the collaborative economy Szilvia Gyimóthy 6.Policy and regulatory perspectives in the collaborative economy Dianne Dredge PART II - Disruptions, innovations and transformations 7.Regulating innovation in the collaborative economy: An examination...... localities of tourism Greg Richards 11.Collaborative economy and destination marketing organizations: A systems approach Jonathan Day 12.Working within the Collaborative Tourist Economy: The complex crafting of work and meaning Jane Widtfeldt Meged and Mathilde Dissing Christensen PART - III Encounters...

Corruption, income, and rule of law: empirical evidence from developing and developed economies

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Helder Ferreira de Mendonça

2012-06-01

Full Text Available This article presents an empirical analysis based on cross-country data concerned with two points regarding corruption: (i its effects on income; and (ii how to mitigate corruption. The findings can be highlighted in two points. Firstly the idea that corruption is intrinsically connected with income is confirmed. Secondly, the traditional argument that an increase in rule of law represents a good strategy in the fight against corruption is valid for developing countries. Furthermore, this study reveals that the search for increasing the human development index represents a rule of thumb for high levels of income and to control corruption.

Evaluation of environmental damage due to atmospheric pollution caused by power economy

International Nuclear Information System (INIS)

Burneikis, J.; Shtreimikiene, D.

1996-01-01

Methods to evaluate the environmental damage due to atmospheric pollution caused by power economy are presented. The products of burning fossil fuel (CO 2 , SO 2 , NO x and ashes) make the bulk of the pollutants that are being discharged into the atmosphere. To evaluate the damage caused by these pollutants an empirical method is suggested. The direct and analytical methods are used as a basis in collecting data for the empirical evaluation. All the three methods are described and empirical formulas suggested for calculating environmental damage due to burning fossil fuel in thermal power stations. The authors prove the necessity to change the present system of environmental taxes in Lithuania, which are purely symbolic. (author). 8 refs., 9 tabs

Guidelines for using empirical studies in software engineering education

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Fabian Fagerholm

2017-09-01

Full Text Available Software engineering education is under constant pressure to provide students with industry-relevant knowledge and skills. Educators must address issues beyond exercises and theories that can be directly rehearsed in small settings. Industry training has similar requirements of relevance as companies seek to keep their workforce up to date with technological advances. Real-life software development often deals with large, software-intensive systems and is influenced by the complex effects of teamwork and distributed software development, which are hard to demonstrate in an educational environment. A way to experience such effects and to increase the relevance of software engineering education is to apply empirical studies in teaching. In this paper, we show how different types of empirical studies can be used for educational purposes in software engineering. We give examples illustrating how to utilize empirical studies, discuss challenges, and derive an initial guideline that supports teachers to include empirical studies in software engineering courses. Furthermore, we give examples that show how empirical studies contribute to high-quality learning outcomes, to student motivation, and to the awareness of the advantages of applying software engineering principles. Having awareness, experience, and understanding of the actions required, students are more likely to apply such principles under real-life constraints in their working life.

Measuring energy rebound effect in the Chinese economy: An economic accounting approach

International Nuclear Information System (INIS)

Lin, Boqiang; Du, Kerui

2015-01-01

Estimating the magnitude of China's economy-wide rebound effect has attracted much attention in recent years. Most existing studies measure the rebound effect through the additional energy consumption from technological progress. However, in general technological progress is not equivalent to energy efficiency improvement. Consequently, their estimation may be misleading. To overcome the limitation, this paper develops an alternative approach for estimating energy rebound effect. Based on the proposed approach, China's economy-wide energy rebound effect is revisited. The empirical result shows that during the period 1981–2011 the rebound effects in China are between 30% and 40%, with an average value of 34.3%. - Highlights: • This paper develops an alternative approach for estimating energy rebound effect. • The proposed approach is based on the multilevel–hierarchical (M–H) IDA model. • The energy rebound effects in China are estimated between 30% and 40%

The heterogeneous effects of urbanization and income inequality on CO2 emissions in BRICS economies: evidence from panel quantile regression.

Science.gov (United States)

Zhu, Huiming; Xia, Hang; Guo, Yawei; Peng, Cheng

2018-04-12

This paper empirically examines the effects of urbanization and income inequality on CO 2 emissions in the BRICS economies (i.e., Brazil, Russia, India, China, and South Africa) during the periods 1994-2013. The method we used is the panel quantile regression, which takes into account the unobserved individual heterogeneity and distributional heterogeneity. Our empirical results indicate that urbanization has a significant and negative impact on carbon emissions, except in the 80 th , 90 th , and 95 th quantiles. We also quantitatively investigate the direct and indirect effect of urbanization on carbon emissions, and the results show that we may underestimate urbanization's effect on carbon emissions if we ignore its indirect effect. In addition, in middle- and high-emission countries, income inequality has a significant and positive impact on carbon emissions. The results of our study indicate that in the BRICS economies, there is an inverted U-shaped environmental Kuznets curve (EKC) between the GDP per capita and carbon emissions. The conclusions of this study have important policy implications for policymakers. Policymakers should try to narrow the income gap between the rich and the poor to improve environmental quality; the BRICS economies can speed up urbanization to reduce carbon emissions, but they must improve energy efficiency and use clean energy to the greatest extent in the process.

A subtle economy of time: Social media and the transformation of Indonesia's Islamic preacher economy.

Science.gov (United States)

Slama, Martin

2017-01-01

The article is concerned with the latest developments in Indonesia's Islamic field. Its focus is on the role of social media in exchange relationships between Islamic preachers and their constituency. The article first discusses economic exchanges between preachers and their followers, and then it concentrates on social exchanges and how they are mediated today. Empirically, the article delivers insight into the concerns of mostly female Indonesian middle-class Muslims and shows how preachers have to adjust to the needs of their followers who are regularly online. Theoretically, the article offers a rereading of Pierre Bourdieu's classic work on forms of capital and their conversion. It emphasizes the temporal dimension of capital accumulation and conversion and explores the temporalities of online exchanges that have become constitutive of preacher-follower relationships. In doing so, it shows how Indonesia's Islamic preacher economy is currently transformed by these online exchanges, resulting in preacher-follower relationships that are characterized by dialogic constructions of Islamic authority. Being part of Indonesia's Islamic field, these changes in the Islamic preacher economy point to a broader trend in Indonesia's Islamic field toward greater sensitivity to the needs and worries of Indonesian middle-class Muslims.

THE IMPACT OF VAT ON THE ECONOMY IN RELATION TO OTHER TAXES IN SOUTH EAST EUROPE

Directory of Open Access Journals (Sweden)

Petre BREZEANU

2018-06-01

Full Text Available Through this article, we aim to create a multifactorial model of linear regression by which we discover the impact of the most important taxes in an economy in the economies of the countries of Southeastern Europe. We have selected South East Europe to include and Romania in the empirical analysis. So for building the model, we considered it opportune to choose the following independent variables: VAT, Excise, Income Tax. The economy as a whole was considered to be well defined by the Gross Domestic Product it produces, which is why GDP has been selected as a variable. The chosen period spans a sample of 20 years. In conclusion, this study will try to highlight how fiscal pillars, such as VAT, ACIs and income taxes, affect the GDP. In the light of the results obtained, we will try to interpret the coefficients obtained through a fiscal policy that is dominant or not at this level.

The problem analysis for empirical studies

NARCIS (Netherlands)

Groenland, E.A.G.

2014-01-01

This article proposes a systematic methodology for the development of a problem analysis for cross-sectional, empirical research. This methodology is referred to as the 'Annabel approach'. It is suitable both for academic studies and applied (business) studies. In addition it can be used for both

The Political Economy of International Emission Trading Scheme Choice: Empirical Evidence

DEFF Research Database (Denmark)

Boom, J.T.; Svendsen, Gert Tinggaard

2000-01-01

The Kyoto Protocol allows emissions trading. It does however not specify how this is to take place and the discussion on the design of an emissions trading scheme is ongoing. In this paper, we give some empirical evidence on the preference of industry and environmental organizations for internati...... for international emissions trading scheme. Since they may have an influence on decision makers, their opinion is important. Our conclusion is that both industry and environmental organizations prefer credit trading, although for widely different reasons....

Real economy versus virtual economy - New challenges for nowadays society

Directory of Open Access Journals (Sweden)

Associates Professon Dr. Veronica Adriana Popescu

2011-05-01

Full Text Available In the paper Real Economy versus Virtual Economy – New Challenges for Nowadays Society our goal is to present the importance of both real economy and virtual economy.At the begging of our research, we have presented the main views of some specialists concerning both virtual and real economy. After that we have compared the two types of economies and we have stressed the most important aspects connected to them. The main reason why we have decided to approach this complex subject is due to the increasing interest in the virtual economy matters and the relation that this particular type of economy develops with the real economy.

ECONOMETRIC MODELLING OD THE INFLUENCE OF LAKE WATER QUALITY CHANGES ON FISHING ECONOMY

Directory of Open Access Journals (Sweden)

Marek Antoni Ramczyk

2017-06-01

Full Text Available The econometric model can be a precise instrument for the analysis of the impact of the natural environment's degradation on fishing economy. This paper aims at analysing the influence of the water quality changes in lake Charzykowskie on the fishing economy. This dissertation present the results of a research on the lake water pollution's impact on fishing economy. The economic-ecological models have been constructed, explaining the changes of economic effects of the lake fishery in the conditions of an increasing water pollution in the epilimnion on the example of the catch of Rutilus rutilus, Abramis brama, Blicca bjoerkna, Coregonus albula, Coregonus lavaretus, Anguilla anguilla and Esox lucius in Lake Charzykowskie. Performed empirical research looked into the influence of the environmental factors on the size of fish catch. Calculations and analysis show clearly that though the habitat factors do influence the catch size of each studied fish species, they do it with different intensity and in various combinations. Both lake water quality and climate factors changes cause measurable effects on fishing industry of lake Charzykowskie. Among all the examined Rutilus rutilus, Abramis brama and Blicca bjoerkna the highest environmental requirements concerning water quality has Blicca bjoerkna. Whereas Abramis brama has slightly higher environmental requirements than Rutilus rutilus. Empirical calculations showed as well that Coregonus albula and Coregonus lavaretus have considerably higher water cleanness requirements than Rutilus rutilus, Abramis brama and Blicca bjoerkna. While when talking about Rutilus rutilus, Abramis brama and Blicca bjoerkna, most water characteristics still rather stimulated these species' development, when it comes to Coregonus albula and Coregonus lavaretus, in general they suppressed their development. The model has also proved quite high habitat requierements of Anquilla anquilla and correctness of the thesis that

Business models of sharing economy companies : exploring features responsible for sharing economy companies’ internationalization

OpenAIRE

Kosintceva, Aleksandra

2016-01-01

This paper is dedicated to the sharing economy business models and their features responsible for internationalization. The study proposes derived definitions for the concepts of “sharing economy” and “business model” and first generic sharing economy business models typology. The typology was created through the qualitative analysis of secondary data on twenty sharing economy companies from nine different industries. The outlined categories of sharing economy business models a...

Equity prices, productivity growth and 'The New Economy'

DEFF Research Database (Denmark)

Madsen, Jakob B.; Davis, E. Philip

2006-01-01

The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This article establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions......, productivity advances can only have temporary effects on the fundamentals of equity prices. Using historical data on productivity of R&D capital, patent capital and fixed capital for 11 OECD countries, empirical evidence gives strong support for the model by suggesting that technological innovations indeed...

THE EFFECT OF ILLICIT TRADE IN NARCOTICS ON GLOBAL ECONOMY

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ALASMARI Khaled

2013-07-01

Illicit markets especially those dealing with narcotics constitute grievous issues to the world’s economies, putting to test global safety, economic progress as well as security and many other aspects. Seemingly, illicit narcotics trade in the last decade – that is 2000 to 2011 underwent a significant boom, resulting from a wide spectrum of illegal drugs such as cocaine as well as heroin among many other hard drugs. In today’s global society, several concerns are emerging on the rise of illicit narcotics trade accompanied with organized crime, chiefly as major hindrances to consistent global economic progress. Apparently, some of the effects of illicit narcotics trade are that; this trade gradually turns upside down business rules, opening way for new unruly market players besides reconfiguring influence in global economics as well as politics. Surprisingly, the revenue from illegal drugs in 2011 alone was roughly 10% of the global GDP. Hence, exaggerating local economies’ incomes and triggering ceaseless conflicts among market players, while at the same time reducing legal business activities likewise disintegrating socioeconomic conditions. An empirical research method was adopted for this study, analyzing illicit trade in narcotics on the global arena as from 2000 to 2011 and its resultant effects. The research findings indicate that, illegal drugs trade particularly on the world economy besides growing at a high rate, it endangers the overall welfare of humans likewise the business environment. This is ostensibly because this trade has high chances of engrossing regional economies into illegal drugs business activities, causing them to neglect sustainable ethical businesses. Now, to effectively address negative economic issues related to illegal drugs trade, there is apparent need for integrated efforts from local as well as international authorities. Such efforts are chiefly to control not only the harmful effects resulting from the use of illicit

Flexible versus common technology to estimate economies of scale and scope in the water and sewerage industry: an application to England and Wales.

Science.gov (United States)

Molinos-Senante, María; Maziotis, Alexandros

2018-03-09

The water industry presents several structures in different countries and also within countries. Hence, several studies have been conducted to evaluate the presence of economies of scope and scale in the water industry leading to inconclusive results. The lack of a common methodology has been identified as an important factor contributing to divergent conclusions. This paper evaluates, for the first time, the presence of economies of scale and scope in the water industry using a flexible technology approach integrating operational and exogenous variables of the water companies in the cost functions. The empirical application carried out for the English and Welsh water industry evidenced that the inclusion of exogenous variables accounts for significant differences in economies of scale and scope. Moreover, completely different results were obtained when the economies of scale and scope were estimated using common and flexible technology methodological approaches. The findings of this study reveal the importance of using an appropriate methodology to support policy decision-making processes to promote sustainable urban water activities.

Fueling the Gig Economy: A Case Study Evaluation of Upwork.com

OpenAIRE

Daryl D. Green; Craig Walker; Abdulrahman Alabulththim; Daniel Smith; Michele Phillips

2018-01-01

With recent downsizing of talented professionals and the power of globalization to provide opportunities for more underdeveloped countries, the gig economy is a source of influence in today’s generation of professionals. Online outsourcing media have shown to be valuable resources for companies who need a specific set of skills for a limited period. This case study evaluates Upwork.com, one of the leading freelance websites in the gig economy; this article provides insights on how others shou...

An analysis of macroeconomic fluctuations for a small open oil-based economy: The case of Saudi Arabia

Science.gov (United States)

Al-Abdulkarim, Bander B.

The increasing fluctuations in the oil prices through the last decades have been transferred to the oil exporting countries. Thus, many oil exporting countries experienced significant changes in the economic activity due to changes in the oil markets. In light of this, oil exporting countries have attempted to implement a policy that would stabilize the fluctuations in the oil markets recognizing the adverse effects of such behavior on oil exporting countries, as well as oil importing countries. Saudi Arabia, as the largest oil-exporting country and a member of OPEC, takes the role of oil-markets stabilizer by behaving as the swing producer. This role has caused the global economic fluctuations to transfer into the domestic economy. In addition, Saudi Arabian government has adopted a fixed exchange rate currency regime. Although it has contributed to domestic price stabilizations, this policy has also exposed the country to global economic disturbances. The purpose of the study is to empirically investigate these aspects for Saudi Arabia. First, the effects of shocks originated in the international markets on the Saudi Arabian economy. Second, how the fixed exchange rate regimes influences the domestic macroeconomic variables. Third, to what extent the oil sector contributes to the non-oil domestic fluctuations. Finally, how the findings from the study can be explained by economic theory. In pursuing this, there are four economic theories that are considered to explain the causes of business cycles. These theories are Classical Theory, Keynesian Theory, Monetarist Theory, and the Real Business Cycles. In addition, a theoretical model is derived that is suitable for an oil-based economy. The model follows the set up of McCallum and Nelson (1999). Then, the empirical models of Structural Vector Autoregression (SVAR) and Error Correction Model (ECM) are implemented with three different specifications: Choleski Decomposition, Block Exogeneity and long-run Cointegration

Introduction to “the social theories of classical political economy and modern economic policy”

NARCIS (Netherlands)

Carl Menger; E. Dekker (Erwin); S. Kolev (Stefan)

2016-01-01

markdownabstractThis is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse. Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular,

Green Energy for Green Economy: The Case Study of Kurdistan Region of Iraq (KRI

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Ahmet Sekreter

2017-12-01

Full Text Available Green economy is an overarching purpose for sustainable growth and friendly environment. Renewable energy focuses on clean energy and sustainable development targets a continuous growth. Green economy includes both of them. Kurdistan Region of Iraq (KRI struggles serious problems in terms of economics after showing a remarkable economic growth until mid-2014. The increasing gap between demand and supply is seen another serious problem for KRI. Green energy is one of the essential stage towards to the green economy and it is one of the vital issue to succeed on the way of green economy. Solar energy is one of the fastest growing renewable energy source around the world and KRI has a great potential for solar energy. This study aims to stimulate KRI to invest green energy and encourage it to establish green economy to make its economy robust for the shocks and enable to show a sustainable development.

Empirically Based Psychosocial Therapies for Schizophrenia: The Disconnection between Science and Practice

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Glenn D. Shean

2013-01-01

Full Text Available Empirically validated psychosocial therapies for individuals diagnosed with schizophrenia were described in the report of the Schizophrenia Patient Outcomes Research Team (PORT, 2009. The PORT team identified eight psychosocial treatments: assertive community treatment, supported employment, cognitive behavioral therapy, family-based services, token economy, skills training, psychosocial interventions for alcohol and substance use disorders, and psychosocial interventions for weight management. PORT listings of empirically validated psychosocial therapies provide a useful template for the design of effective recovery-oriented mental health care systems. Unfortunately, surveys indicate that PORT listings have not been implemented in clinical settings. Obstacles to the implementation of PORT psychosocial therapy listings and suggestions for changes needed to foster implementation are discussed. Limitations of PORT therapy listings that are based on therapy outcome efficacy studies are discussed, and cross-cultural and course and outcome studies of correlates of recovery are summarized.

Migrant labor supply in a booming non-renewable resource economy: Cure and transmission mechanism for de-industrialization?

Science.gov (United States)

Nulle, Grant Mark

This paper challenges the determinism that booming resource economies suffer from de-industrialization, the "Dutch Disease". For several decades, economists have attempted to explain how a sudden surge in mineral and energy extraction affects an economy's output and employment from an aggregate and sectoral perspective. Economic theory shows that a "boom" in mineral and energy production is welfare enhancing to the economy experiencing it. However, the phenomenon also induces inter-sectoral adjustments among non-renewable resource (NRR), traditional traded, and non-traded industries that tend to crowd out traditional export sectors such as agriculture and manufacturing. In turn, this paper asks two fundamental questions: 1) Can the inter-sectoral adjustments wrought by a boom in NRR production be mitigated in the resource-abundant economy experiencing it; 2) Can the inter-sectoral adjustments be exported to a neighboring non-resource economy by movements in migrant labor supply? The theoretical model and empirical estimation approach presented in this paper introduces an endogenous migrant labor supply response to booms in NRR output to test the extent traditional tradable sectors shrink in the NRR-abundant economy during the boom and if such effects are exported to a neighboring jurisdiction. Using data at the U.S. county level, the empirical results show that booming economies experience positive and statistically significant rates of real income and traded sector job growth during the boom, attributable to the influx of migrant labor. By contrast, little evidence is found that non-booming counties adjacent to the booming counties experience declines in income or job growth because of labor supply outflows. Instead, the results suggest the larger the number of potential "donor" counties that can supply labor to the booming economies, the more likely the transmission of booming economy effects, namely evidence of de-industrialization, is diffused across all of the

Innovation systems in small catching-up economies new perspectives on practice and policy

CERN Document Server

Varblane, Urmas; Roolaht, Tõnu

2012-01-01

In several parts of the world, countries are undergoing economic, social, and political transitions, enhanced and accelerated by the forces of globalization. These transition economies can serve as laboratories for understanding the innovation process. This volume features original theoretical and empirical research. It offers the first comprehensive view of innovation system development in the context of small catching-up economies. Smallness, path dependency, and latecomer status of such economies create some inherent limitations for their innovation systems, but these special characteristics can offer advantages as well. For example, smallness is often related with increased flexibility and shorter reaction times, while latecomers can benefit from earlier experiences of their more advanced neighbors. Path-dependency highlights the fact that the innovation system development processes are considerably influenced by the past experience of a particular country or region. By incorporating these features into a...

ICT Innovation in Emerging Economies

DEFF Research Database (Denmark)

Xiao, Xiao; B. Califf, Christopher; Sarker, Saonee

2013-01-01

ICT innovation is known to significantly elevate a country’s growth and to enhance productivity. It is now well-acknowledged that emerging economies are beginning to innovate at a rapid rate despite some of the challenges they face. Given that these countries with such economies now comprise...... economies, what needs to be studied, and how they should be studied. We attempt to contribute in this area by: (1) providing a comprehensive framework of existing research on ICT innovation in emerging economies, (2) highlighting the gaps that have been left behind, and (3) providing specific guidelines...... to future researchers, including a research model summarizing the salient issues that need examination. We believe that our study makes an important contribution to research on ICT innovation in emerging economies, and can be a useful resource for future researchers interested in this topic....

Collaborative Economy

DEFF Research Database (Denmark)

that are emerging from them, and how governments are responding to these new challenges. In doing so, the book provides both theoretical and practical insights into the future of tourism in a world that is, paradoxically, becoming both increasingly collaborative and individualized. Table of Contents Preface 1.The...... collaborative economy and tourism Dianne Dredge and Szilvia Gyimóthy PART I - Theoretical explorations 2.Definitions and mapping the landscape in the collaborative economy Szilvia Gyimóthy and Dianne Dredge 3.Business models of the collaborative economy Szilvia Gyimóthy 4.Responsibility and care...... in the collaborative economy Dianne Dredge 5.Networked cultures in the collaborative economy Szilvia Gyimóthy 6.Policy and regulatory perspectives in the collaborative economy Dianne Dredge PART II - Disruptions, innovations and transformations 7.Regulating innovation in the collaborative economy: An examination...

Collaborative Economy

DEFF Research Database (Denmark)

collaborative economy and tourism Dianne Dredge and Szilvia Gyimóthy PART I - Theoretical explorations 2.Definitions and mapping the landscape in the collaborative economy Szilvia Gyimóthy and Dianne Dredge 3.Business models of the collaborative economy Szilvia Gyimóthy 4.Responsibility and care...... and similar phenomena are among these collective innovations in tourism that are shaking the very bedrock of an industrial system that has been traditionally sustained along commercial value chains. To date there has been very little investigation of these trends, which have been inspired by, amongst other...... in the collaborative economy Dianne Dredge 5.Networked cultures in the collaborative economy Szilvia Gyimóthy 6.Policy and regulatory perspectives in the collaborative economy Dianne Dredge PART II - Disruptions, innovations and transformations 7.Regulating innovation in the collaborative economy: An examination...

Exchange-rate regimes and economic growth: An empirical evaluation

OpenAIRE

Simón Sosvilla-Rivero; María del Carmen Ramos-Herrera

2014-01-01

Based on a dataset of 123 economies, this paper empirically investigates the relation between exchange-rate regimes and economic growth. We find that growth performance is best under intermediate exchange rate regimes, while the smallest growth rates are associated with flexible exchange rates. Nevertheless, this conclusion is tempered when we analyze the countries by income level: even though countries that adopt intermediate exchange-rate regimes are characterized by higher economic growth,...

Examining the ‘’Natural Resource Curse’’ and the Impact of Various Forms of Capital in Small Tourism and Natural Resource-Dependent Economies

Directory of Open Access Journals (Sweden)

Petar Kurecic

2017-02-01

Full Text Available The problem of the relevance of human and natural capital, as well as the potential adverse effect of natural capital on economic growth, has gained increased attention in development economics. The aim of this paper is to assess, theoretically and empirically, the relevance of several forms of capital on economic growth in certain small economies that are dependent upon tourism or natural resources. The empirical framework is based on Impulse Response Functions obtained from Vector Autoregressive models in which we focus on the model where economic growth is the dependent variable for ten small economies that are dependent upon either tourism or natural resources. We find that there is evidence of the “natural resource curse”, especially in the economies that have a strong dependence on resources that are easily substitutable and whose prices constantly fluctuate. We further find that in the majority of observed cases, the type of capital these small economies are most dependent on for their economic growth causes negative impulses in the majority of the observed periods. Therefore, the main policy recommendation should be to assure that even these small economies should strive towards further diversification and avoid dependence on only one segment of their economy.

The International Balance of Payments Role in the Economy of Indonesia

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Ismadiyanti P Astuti

2016-06-01

Full Text Available The balance of payments is an indicator of economic fundamentals. Balance of payment describes the ability of a country to gain foreign exchange and foreign payments. This study aimed to analyze the determinants of the balance of payments on the Indonesian economy . It used  Thirlwall and Hussain models and also Duasa empirical model. This study used secondary data years 1987-2014, namely foreign exchange reserves, exports, foreign investment, the exchange rate and the real gross national income. The results showed that the performance of the balance of payments in Indonesia can be explained by the models shown in accordance with the hypothesis, but on several variables did not show a significant correlation.

INTERNAL AND EXTERNAL DETERMINANTS OF COMMERCIAL BANKS PROFITABILITY: EMPIRICAL EVIDENCE FROM BULGARIA AND ROMANIA

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FIRTESCU BOGDAN

2015-07-01

Full Text Available Our study focuses on commercial banks which are operating in Bulgaria and Romania, two countries whose banking sectors have registered major structural changes in the transition to a market economy and which are showing some similarities. Similar to other EU countries, the financial system from Bulgaria and Romania is dominated by the banking sector, which holds the largest share of total assets. Thus, we can say that health, strength and performance of the banking sector are of major importance for the sustainable economic development of states, but also for efficient transmission of monetary policy decisions on the real economy. The paper aims to identify the key factors that affect bank profitability and to evaluate empirically their contribution to a sample of 29 commercial banks in Bulgaria and Romania, for the period 2003-2012. Our research is based on data from the Bureau Van Dijk database, the World Bank and the European Central Bank and uses panel data estimation techniques. The dependent variable used in our study is the bank profitability, which is measured by two representative indicators the Return on Average Assets (ROAA and Return on Average Equity (ROAE. Regarding the independent variables, our analysis includes capital adequacy, the loan loss reserve rate, cost to income ratio, the ratio of liquid assets to total assets, the interest expenses to deposits ratio, the non-interest income over total gross revenues, bank size, the GDP per capita growth, inflation rate, domestic bank credit to private sector and banking industry concentration. The results of our empirical study shows that among the variables considered, the loan loss reserve rate, the ratio of cost to income, GDP per capita growth and domestic bank credit to the private sector, have a significant impact on bank profitability, results in line with our expectations, but also with the results of other empirical studies.

Feebates, rebates and gas-guzzler taxes: a study of incentives for increased fuel economy

International Nuclear Information System (INIS)

Greene, D.L.; Patterson, P.D.; Singh, Margaret; Li Jia

2005-01-01

US fuel economy standards have not been changed significantly in 20 years. Feebates are a market-based alternative in which vehicles with fuel consumption rates above a 'pivot point' are charged fees while vehicles below receive rebates. By choice of pivot points, feebate systems can be made revenue neutral. Feebates have been analyzed before. This study re-examines feebates using recent data, assesses how the undervaluing of fuel economy by consumers might affect their efficacy, tests sensitivity to the cost of fuel economy technology and price elasticities of vehicle demand, and adds assessments of gas-guzzler taxes or rebates alone. A feebate rate of $500 per 0.01 gallon per mile (GPM) produces a 16 percent increase in fuel economy, while a $1000 per 0.01 GPM results in a 29 percent increase, even if consumers count only the first 3 years of fuel savings. Unit sales decline by about 0.5 percent but sales revenues increase because the added value of fuel economy technologies outweighs the decrease in sales. In all cases, the vast majority of fuel economy increase is due to adoption of fuel economy technologies rather than shifts in sales

Chances for a circular economy in the Netherlands; Kansen voor de circulaire economie in Nederland

Energy Technology Data Exchange (ETDEWEB)

Bastein, T.; Roelofs, E.; Rietveld, E.; Hoogendoorn, A.

2013-06-15

The concept of circular economy is an economic and industrial system that focuses on the reusability of products and raw materials, reduces value destruction in the overall system and aims at value creation within each tier of the system. In this report the (economic) opportunities are quantified as much as possible, and impacts on employment and the environmental are addressed. The study focuses specifically on the Dutch economy. The analysis starts by means of two detailed case studies: the use of biomass wastes and the circular economy that may arise in the metal-electronics industry [Dutch] Het begrip 'circulaire economie' is een economisch en industrieel systeem dat zich richt op de herbruikbaarheid van producten en grondstoffen, waarde vernietiging in het totale systeem minimaliseert en waarde creatie in iedere schakel van het systeem nastreeft. In dit rapport worden de (economische) kansen zoveel mogelijk gekwantificeerd, waarbij effecten op werkgelegenheid en milieudruk aan bod komen. De studie richt zich nadrukkelijk op de gehele Nederlandse economie. De analyse start aan de hand van twee gedetailleerde case studies: de benutting van reststromen uit biomassa en de circulaire economie die kan ontstaan t.b.v. producten uit de metaalelektro-sector.

Comparative Analysis of the Relationship Between Poverty and Underground economy in the Highly developed, Transition and Developing Countries

OpenAIRE

Elijah, Obayelu Abiodun; Uffort, Larry

2007-01-01

Abstract This study was undertaken with the goal of analyzing the relationship between poverty rates and size of underground economy in the developed and developing countries and exploring whether there is a link between them. There are technical problems in linking them in that getting information from those who have undertaken underground activities are difficult. Secondary data were used to established hypothetical relationship and primary data for the empirical analysis. ...

Spillover Effects of the Russian Economy: Regional Specificity

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Elena Anatolyevna Fedorova

2016-03-01

Full Text Available The purpose of the study is to evaluate the strength and direction of the distribution of the foreign direct investments (FDI in regional economy. The subject matter of the research is FDI to the regions of Russia. The subject of the study is relevant as it makes possible to estimate the long-term consequences from the restrictions of the West countries (in connection with sanctions against the inflow of the foreign capital to the regions of the Russian Federation. The study is based on the following hypotheses: 1. Russian regional economy has horizontal (distribution of effects from FDI within an industry and vertical spillover effects (distribution according to a technological chain, from product suppliers to product consumers. Vertical effects are more important and have greater amplitude than horizontal effects. An industry competition is one of the causes of negative horizontal spillover effect, and the scale of the company is the reason of positive horizontal spillover effect. 2. FDI generates the positive regional spillover effects on the productivity of domestic firms in the Russian economy. 3. Regional industry specificity influences the sign and magnitude of spillovers from FDI. 4. Time sensitivity is revealed for horizontal spillovers, so the regional effects may change the direction. As an empirical basis of the study, the statements of 23567 Russian companies with FDI and 25354 Russian enterprises without FDI for the 5 years were used. The methodology of the research is the calculation of spillover effects, Cobb-Douglas production function and panel data regression. The study has found, that the direct vertical spillover effects are almost absent. That means that industrial consumers do not notice the effect of inward FDI. At the same time, the converse effect related to the product suppliers is positive, but as the direct effect, it is not more important in any group of regions then the horizontal effect. The Russian economy has a

The significance of renewable energy use for economic output and environmental protection: evidence from the Next 11 developing economies.

Science.gov (United States)

Paramati, Sudharshan Reddy; Sinha, Avik; Dogan, Eyup

2017-05-01

Increasing economic activities in developing economies raise demand for energy mainly sourced from conventional sources. The consumption of more conventional energy will have a significant negative impact on the environment. Therefore, attention of policy makers has recently shifted towards the promotion of renewable energy generation and uses across economic activities to ensure low carbon economy. Given the recent scenario, in this paper, we aim to examine the role of renewable energy consumption on the economic output and CO 2 emissions of the next fastest developing economies of the world. The study employs several robust panel econometric models by using annual data from 1990 to 2012. Empirical findings confirm the significant long-run association among the variables. Similarly, results show that renewable energy consumption positively contributes to economic output and has an adverse effect on CO 2 emissions. Given our findings, we suggest policy makers of those economies to initiate further effective policies to promote more renewable energy generation and uses across economic activities to ensure sustainable economic development.

Do political or economic factors drive healthcare financing privatisations? Empirical evidence from OECD countries

NARCIS (Netherlands)

Wiese, Rasmus

2013-01-01

This paper adds new empirical evidence to the political economy literature of economic reform. One of the main contributions of this paper is the development of a novel methodology to identify privatisations. The methodology is a combination of the Bai & Perron structural break filter, and

International Financial Integration and Economic Growth in India: An Empirical Investigation

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Nayia MAHAJAN

2015-11-01

Full Text Available This study endeavors to estimate relationship between international financial integration and economic growth in India during 1981-2011. Apart from direct impact of international financial integration on growth, indirect impact (via financial development has also been studied empirically. Models of co-integration and Vector Error Correction Model (VECM have been applied to examine the relationships. The study observes that international financial integration affects the growth of the economy positively; and change in economic growth due to it through financial development is approximately 8.63 percent. The study also suggests that the structural reforms that took place in India in early nineties did not affect the existing relationship of global financial integration and economic growth significantly.

The changing strategic roles for warehousing in an emerging economy: case study in Ukraine

NARCIS (Netherlands)

de Boer, S.J.; Voordijk, Johannes T.

2014-01-01

The increasing globalisation of the world economy is having a profound impact on logistics. Emerging economies are experiencing rapid developments that affect their warehousing facilities. The purpose of this study is to explore the strategic roles that warehousing plays and the changes therein.

Economic growth and emissions reconsidering the empirical basis of environmental Kuznets curves

International Nuclear Information System (INIS)

De Bruyn, S.M.; Van den Bergh, J.C.J.M.; Opschoor, J.B.

1998-01-01

Recent empirical research indicates that certain types of emissions follow an inverted-U or environmental Kuznets curve (EKC) as income grows. This regularity has been interpreted as a possible de-linking of economic growth and patterns of certain pollutants for developed economies. In this paper the empirical basis of this result is investigated, by considering some statistical particularities of the various EKC studies performed. It is argued that the inverted-U relationship between income and emissions estimated from panel data need not hold for specific individual countries over time. Based on insights from 'intensity-of-use' analysis in resource economics an alternative growth model is specified and estimated for three types of emissions (CO 2 , NO x and SO 2 ) in four countries (Netherlands, UK, USA and Western Germany). It is found that the time patterns of these emissions correlate positively with economic growth and that emission reductions may have been achieved as a result of structural and technological changes in the economy. 'Sustainable growth' is defined as the rate of economic growth that does not lead to growth in emissions. Its rate is calculated for each type of emission and country, based on estimated parameter values. The resulting indicators reflect a balance between the positive influence of growth and negative influence of structural change and technological progress on emission levels

Handbook on the Experience Economy

DEFF Research Database (Denmark)

This illuminating Handbook presents the state-of-the-art in the scientific field of experience economy studies. It offers a rich and varied collection of contributions that discuss different issues of crucial importance for our understanding of the experience economy. Each chapter reflects diverse...... an insight into how receivers react to experiential elements of experience economy studies. An innovative presentation of experience economics, this is a remarkable collection of new theory and analyses. This book will prove an invaluable resource to researchers and students in management, marketing...... scientific viewpoints from disciplines including management, mainstream economics and sociology to provide a comprehensive overview. The Handbook is divided into three subsections to explore progression in the scientific field of experience economy studies. The first section focuses on fundamental debates...

Oil price shocks and their short- and long-term effects on the Chinese economy

International Nuclear Information System (INIS)

Tang, Weiqi; Wu, Libo; Zhang, ZhongXiang

2010-01-01

A considerable body of economic literature shows the adverse economic impacts of oil-price shocks for the developed economies. However, there has been a lack of similar empirical study on China and other developing countries. This paper attempts to fill this gap by answering how and to what extent oil-price shocks impact China's economy, emphasizing on the price transmission mechanisms. To that end, we develop a structural vector auto-regressive model. Our results show that an oil-price increase negatively affects output and investment, but positively affects inflation rate and interest rate. However, with price control policies in China, the impact on real economy, represented by real output and real investment, lasts much longer than that to price/monetary variables. Our decomposition results also show that the short-term impact, namely output decrease induced by the cut in capacity-utilization rate, is greater in the first 6 periods (namely half a year), but the portion of the long-term impact, defined as the impact realized through an investment change, increases steadily and exceeds that of short-term impact in the 7th period. Afterwards, the long-term impact dominates, and maintains for quite some time. (author)

The effect of female labour force in economic growth and sustainability in transition economies - case study for SEE countries

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Majlinda Mazalliu

2015-07-01

Full Text Available In this research paper, the main theoretical arguments for discussions are as following: female labour force participation in transition countries, female employment in economic sectors and their main barriers, and the contributions of female labour force in economic growth. In methodology, the secondary data are used, and they are calculated through STATA program. The main analysis include: descriptive statistic, regression analysis and correlation matrix. Based on empirical results, the regression analysis has found that economic growth and government effectiveness has a negative impact on female labour force. Financial market development, enterprises reforms, and innovation have a positive impact on female labour force in SEE (South Eastern European countries. In T-statistic analysis all independent variables have shown a negative significance (T <2 on female labour force. In correlation, economic growth and financial development market have negative correlation on female labour force, but other variables have shown positive correlation. SEE countries should develop the female labour force in their economies, so their role may be crucial toward different economic problems and challenges in the modern economy.

Empirical Scientific Research and Legal Studies Research--A Missing Link

Science.gov (United States)

Landry, Robert J., III

2016-01-01

This article begins with an overview of what is meant by empirical scientific research in the context of legal studies. With that backdrop, the argument is presented that without engaging in normative, theoretical, and doctrinal research in tandem with empirical scientific research, the role of legal studies scholarship in making meaningful…

Comparison between response dynamics in transition economies and developed economies

Science.gov (United States)

Tenenbaum, Joel; Horvatić, Davor; Bajić, Slavica Cosović; Pehlivanović, Bećo; Podobnik, Boris; Stanley, H. Eugene

2010-10-01

In developed economies, the sign of the price increment influences the volatility in an asymmetric fashion—negative increments tend to result in larger volatility (increments with larger magnitudes), while positive increments result in smaller volatility. We explore whether this asymmetry extends from developed economies to European transition economies and, if so, how such asymmetry changes over time as these transition economies develop and mature. We analyze eleven European transition economies and compare the results with those obtained by analyzing U.S. market indices. Specifically, we calculate parameters that quantify both the volatility asymmetry and the strength of its dependence on prior increments. We find that, like their developed economy counterparts, almost all transition economy indices exhibit a significant volatility asymmetry, and the parameter γ characterizing asymmetry fluctuates more over time for transition economies. We also investigate how the association between volatility and volatility asymmetry varies by type of market. We test the hypothesis of a negative correlation between volatility and volatility asymmetry. We find that, for developed economies, γ experiences local minima during (i) “Black Monday” on October 19, 1987, (ii) the dot-com bubble crash in 2002, and (iii) the 2007-2009 global crisis while for transition economies, γ experiences local maxima during times of economic crisis.

Evaluating the Mechanism of Oil Price Shocks and Fiscal Policy Responses in the Malaysian Economy

International Nuclear Information System (INIS)

Bekhet, Hussain A; Yusoff, Nora Yusma Mohamed

2013-01-01

The paper aims to explore the symmetric impact of oil price shock on economy, to understand its mechanism channel and how fiscal policy response towards it. The Generalized Impulse Response Function and Variance Decomposition under the VAR methodology were employed. The empirical findings suggest that symmetric oil price shock has a positive and direct impact on oil revenue and government expenditure. However, the real GDP is vulnerable in a short-term but not in the long term period. These results would confirm that fiscal policy is the main mechanism channel that mitigates the adverse effects oil price shocks to the economy.

Evaluating the Mechanism of Oil Price Shocks and Fiscal Policy Responses in the Malaysian Economy

Science.gov (United States)

Bekhet, Hussain A.; Yusoff, Nora Yusma Mohamed

2013-06-01

The paper aims to explore the symmetric impact of oil price shock on economy, to understand its mechanism channel and how fiscal policy response towards it. The Generalized Impulse Response Function and Variance Decomposition under the VAR methodology were employed. The empirical findings suggest that symmetric oil price shock has a positive and direct impact on oil revenue and government expenditure. However, the real GDP is vulnerable in a short-term but not in the long term period. These results would confirm that fiscal policy is the main mechanism channel that mitigates the adverse effects oil price shocks to the economy.

New Geographies of Accumulation, Globalising Firm Networks and the Role of the Auckland Region in the Australasian Economy

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Richard Le Heron

2012-01-01

Full Text Available Surprisingly little theoretical or empirical research is available on Auckland’s actual functional and geographic connectivity, including developments relating to closer economic relations with Australia. This paper draws on the geography of accumulation literatures to argue that close attention must be given to developments in the three circuits of capital (trade, production and finance if the changing character and contributions of globalising firm networks are to be discerned and understood. The empirical investigations show that for Australian owned firms globalising rather than purely Australasian networks are the norm, network complexity is considerable and that it makes sense to think of Auckland’s economy in globalising terms. A globalising networks perspective means that estimates of the magnitude and assessments of the character of employment contributions of Australian owned firms to the Auckland economy reflects these interdependencies.

Non performing loans (NPLs) in a crisis economy: Long-run equilibrium analysis with a real time VEC model for Greece (2001-2015)

Science.gov (United States)

Konstantakis, Konstantinos N.; Michaelides, Panayotis G.; Vouldis, Angelos T.

2016-06-01

As a result of domestic and international factors, the Greek economy faced a severe crisis which is directly comparable only to the Great Recession. In this context, a prominent victim of this situation was the country's banking system. This paper attempts to shed light on the determining factors of non-performing loans in the Greek banking sector. The analysis presents empirical evidence from the Greek economy, using aggregate data on a quarterly basis, in the time period 2001-2015, fully capturing the recent recession. In this work, we use a relevant econometric framework based on a real time Vector Autoregressive (VAR)-Vector Error Correction (VEC) model, which captures the dynamic interdependencies among the variables used. Consistent with international evidence, the empirical findings show that both macroeconomic and financial factors have a significant impact on non-performing loans in the country. Meanwhile, the deteriorating credit quality feeds back into the economy leading to a self-reinforcing negative loop.

A REVIEW of WEBERIAN STUDIES ON THE OTTOMAN EMPIRE

OpenAIRE

MAZMAN, İbrahim

2018-01-01

This study examines the secondary literature on Max Weber’s (1864-1920) writings onIslam and the Ottoman Empire. It demarcates approaches prevalent in the secondaryliterature. Three basic themes are apparent:- Section a) concentrates on authors who applied Weber’s concepts of patrimonialism andbureaucracy to non-Ottoman countries, such as Maslovski (on the Soviet bureaucracy)and Eisenberg (on China).- Section b) focuses on authors who studied the Ottoman Empire utilizing non-Weberianaboveall ...

Against Amateur Economies: Spec Work Competitions and the Anti-spec Movement

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Helen Kennedy

2013-04-01

Full Text Available The rise and rise of the amateur cultural producer has been greeted with a spectacular amount of celebratory rhetoric, in both popular and academic writing . It has also been criticised, often for the inferior quality of amateur productions compared to the fruits of professional labour. But apart from that by a small number of journalism scholars, little empirical research has been carried out with professional creative labourers about the impact of amateur economies on their work, and their responses to amateur production practices. This article addresses that gap, and also counterbalances the dominant celebratory discourse by focusing on an initiative that is critical of amateur economies and that emerges from creative workers themselves: the anti-spec movement within design industries. Anti-spec activists campaign against speculative (or spec work, which is seen as one problematic materialisation of crowdsourced, amateur economies. Here, it is argued that responses to spec work can be understood in relation to designers’ ethics and values and the extent to which they feel that these are thrown into question by amateur activity.

Implementation of the knowledge economy paradigm in the strategy of national economy development

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Dmytro Lukianenko

2013-08-01

Full Text Available This paper studies the knowledge economy paradigm and the factors of its influence on the development of national economies in the context of transformation of the global competitive environment. It has been methodologically identified the basic categories and concepts concerning the determination of key factors and parameters of modern economic systems. It has been proved through the example of South Korea that implementation of the knowledge economy paradigm in long-term strategies initiated and supported by the state provides new opportunities of socio-economic progress. The basic problems of innovation-driven development of Ukraine’s economy through an assessment of its readiness to transition to the knowledge economy, compared with South Korea. The latter’s experience, despite the objective limitations, is regarded as an example of strategic success in formation of a creative innovation system.

Effects of a Peer-Administered Token Economy on Second Grade Physical Education Students' Overhand Throw Performance

Science.gov (United States)

Alstot, Andrew E.

2015-01-01

Token economies have been shown useful in a variety of settings to improve physical activity-related behaviors. However, few researchers in empirical research have examined the effects of token reinforcement targeting motor skill performance implemented specifically in physical education with typically developing children. Therefore, the purpose…

Open Economy, Institutional Quality, and Environmental Performance: A Macroeconomic Approach

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Amaryllis Mavragani

2016-06-01

Full Text Available As the subject of how economic development affects the quality of the natural environment has gained great momentum, this paper focuses on examining the extent to which the openness of a market economy and the quality of the institution affect environmental performance. The majority of the current studies focus on the Environmental Kuznets Curve and the level of economic growth. This paper addresses this question by relating environmental (“Environmental Performance Index” to macroeconomic (Gross Domestic Product per capita, “Open Markets Index” and governance indicators (“Worldwide Governance Indicators”. The sample consists of 75 countries, including all G20 and EU members, comprising “more than 90% of global trade and investment”. Findings show that the Environmental Performance Index is positively correlated to each of the (institutional indicators, so as to confirm that the selected indices are consistent with previous studies, suggesting that environmental performance increases in line with economic development and that good governance increases a country’s levels of environmental protection. By applying factor analysis, an empirical model of the Environmental Performance Index is estimated, suggesting that there is a significant positive correlation between a country’s economic growth, the openness of an economy, high levels of effective governance, and its environmental performance.

Political perspectives of relationship networks to internationalization of firms in an emerging economy

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Jefferson Marlon Monticelli

2017-08-01

Full Text Available The neo-institutional theory has been used to explain inter-organizational networks related phenomena from the economic and sociological perspectives. The political perspective has not been often used to study institutional contexts of networks. We aim to analyze the decision-making of the formal institutions in the internationalization process of firms in an emerging economy from a political bias. For the empirical field of study, we considered the Brazilian wine industry. Starting from a case study with twenty-three interviews with representatives of wineries and entities of this industry, our paper furthers the understanding of how institutions influence the internationalization of firms in an emerging economy. Based on the political perspective of the neo-institutional theory, our study describes how institutions, mainly the government, can influence an industry. Government cannot afford resources to benefit or protect all the industries, as well as cannot provide incentives to all firms, and those that are supported will lose competitiveness. For the firms, the choices are based on trying to achieve economic advantages through political influences. For the institutions, the choices are based on political influences considering institutional strategies.

Qualitative Case Study Research as Empirical Inquiry

Science.gov (United States)

Ellinger, Andrea D.; McWhorter, Rochell

2016-01-01

This article introduces the concept of qualitative case study research as empirical inquiry. It defines and distinguishes what a case study is, the purposes, intentions, and types of case studies. It then describes how to determine if a qualitative case study is the preferred approach for conducting research. It overviews the essential steps in…

How Can Multifunctional Agriculture Support a Transition to a Green Economy in Africa? Lessons from the COMACO Model in Zambia

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Orleans Mfune

2016-09-01

Full Text Available This paper examines the link between the green economy and multifunctional agriculture. In particular, the paper uses the case of the Community Markets for Conservation (COMACO initiative, an agro-based enterprise promoting a multifunctional agriculture model in Eastern Zambia, to examine how the potential of smallholder farmers can be harnessed to support a transition towards the green economy. The empirical data on which the paper is based were collected through questionnaire surveys and in-depth interviews conducted with farmers and other actors in the agricultural sector. The results of the study show that a number of elements underpinning the COMACO model including sustainable land management practices, conservation outreach, community markets, value addition, and conservation dividends have great potential to deliver benefits related to the green economy. However, to truly foster a transition towards a green economy, a number of constraints need to be overcome. These include lack of a supportive policy and institutional framework, technological backwardness, and lack of consumer awareness of environmental information instruments such as eco-labelling.

An Evaluation Model for Sustainable Development of China’s Textile Industry: An Empirical Study

Science.gov (United States)

Zhao, Hong; Lu, Xiaodong; Yu, Ting; Yin, Yanbin

2018-04-01

With economy’s continuous rapid growth, textile industry is required to search for new rules and adjust strategies in order to optimize industrial structure and rationalize social spending. The sustainable development of China’s textile industry is a comprehensive research subject. This study analyzed the status of China’s textile industry and constructed the evaluation model based on the economical, ecologic, and social benefits. Analytic Hierarchy Process (AHP) and Data Envelopment Analysis (DEA) were used for an empirical study of textile industry. The result of evaluation model suggested that the status of the textile industry has become the major problems in the sustainable development of China’s textile industry. It’s nearly impossible to integrate into the global economy if no measures are taken. The enterprises concerned with the textile industry status should be reformed in terms of product design, raw material selection, technological reform, technological progress, and management, in accordance with the ideas and requirements of sustainable development. The results of this study are benefit for 1) discover the main elements restricting the industry’s sustainable development; 2) seek for corresponding solutions for policy formulation and implementation of textile industry; 3) provide references for enterprises’ development transformation in strategic deployment, fund allocation, and personnel assignment.

The growth of business firms: theoretical framework and empirical evidence.

Science.gov (United States)

Fu, Dongfeng; Pammolli, Fabio; Buldyrev, S V; Riccaboni, Massimo; Matia, Kaushik; Yamasaki, Kazuko; Stanley, H Eugene

2005-12-27

We introduce a model of proportional growth to explain the distribution P(g)(g) of business-firm growth rates. The model predicts that P(g)(g) is exponential in the central part and depicts an asymptotic power-law behavior in the tails with an exponent zeta = 3. Because of data limitations, previous studies in this field have been focusing exclusively on the Laplace shape of the body of the distribution. In this article, we test the model at different levels of aggregation in the economy, from products to firms to countries, and we find that the predictions of the model agree with empirical growth distributions and size-variance relationships.

Comparative Analysis of the Relationship Between Poverty and Underground economy in the Highly developed, Transition and Developing Countries

OpenAIRE

Elijah, Obayelu Abiodun; Uffort, Larry

2007-01-01

Abstract This study was undertaken with the goal of analyzing the relationship between poverty rates and size of underground economy in the developed and developing countries and exploring whether there is a link between them. There are technical problems in linking them in that getting information from those who have undertaken underground activities are difficult. Secondary data were used to established hypothetical relationship and primary data for the empirical analysis. The results of th...

College Students' Attitudes & Responses toward the Current Economy and Its Implications for Marketing Managers

Science.gov (United States)

Gray, Lauren; Lamanette, Michelle; Silva, Alberto; Budden, Michael C.

2009-01-01

Since the early months of 2009, the undeniable woes of the economy are being felt by many. With a record number of corporate closings, rising unemployment and the crises in the financial markets, this may prove to be a difficult year for many. This paper uses empirical evidence collected from Southeastern Louisiana University students to learn how…

The Regularities of the Cyclical Development of the World Economy in the Current Phase

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Revyakin Georgy V.

2017-09-01

Full Text Available The article is aimed at identifying and describing the key tendencies in the cyclical development of the world economy. In order to allocate the cyclical component in the dynamics of the world-wide GDP growth, a time series decomposition was performed using the Hodrick-Prescott filter and the relationship of economic cycles to the dynamics of different indicators of economic conditions was analyzed. The persistent relationship between inflation, unemployment and the current phase of the economic cycle have been identified and described. The truth of the Phillips curve has been empirically demonstrated: existence of an inverse relationship between the rate of inflation and the level of unemployment. A new classification of branches of economy has been provided according to their susceptibility to the current phase of the economic cycle. According to this criterion, all branches of economy have been divided into the cyclical and the non-cyclical sectors. A hypothesis that there is a direct relationship between the average annual growth rate of GDP and the structure of the national economy has been suggested.

The relationship between intellectual capital quality and corporate performance: An empirical study of Russian and European companies

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Shakina Elena

2012-01-01

Full Text Available The purpose of this research is to develop cost-effectiveness tools for the analysis of company’s intellectual resources, in terms of resource-based and value-based approaches. Our study focuses on the evaluation of intellectual capital methods to discover the drivers of company growth. We suppose that the potential effectiveness of intellectual capital resources varies according to different institutional factors. Several statistical methods will be used for the empirical issues in this research, including common cross-sectional and panel data analysis, and the instrumental variables method. The database collected for this purpose will consist of financial and economic indicators underlying the intellectual capital evaluation, such as strategic performance indicators (EVA© and FGV©. The dataset includes companies from different countries and industries according to the Knowledge Economy Index of the World Bank. The industries presented in the dataset are selected according to the predominance of several intellectual capital elements. The database includes financial services, wholesale and retail trade, machinery and equipment manufacture, the chemical industry, and transport and communications. As a result of the empirical research, we expect to answer the following questions: • Is there a close relationship between intellectual capital quality and company performance? • What are the external and internal factors affecting this relationship? (country, industry, company size, market dynamics, etc.

Multilevel approaches and the firm-agglomeration ambiguity in economic growth studies

NARCIS (Netherlands)

Oort, F.G. van; Burger, M.J.; Knoben, J.; Raspe, O.

2012-01-01

Empirical studies in spatial economics have shown that agglomeration economies may be a source of the uneven distribution of economic activities and economic growth across cities and regions. Both localization and urbanization economies are hypothesized to foster agglomeration and growth, but

The level of the shadow economy, tax evasion and corruption: The empirical evidence for SEE countries

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Osmani Rufi

2015-12-01

Full Text Available Economic theory and practice of developed countries have shown that the good functioning of market economies requires the existence of stable institutions that are effective in the application of legal rules as a precondition for the proper functioning of the economic and fiscal system.

Relationships between ecological infrastructure and the economy: The case of a fishery

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Jacobus G. Crafford

2014-07-01

Full Text Available The Millennium Ecosystem Assessment identified the regulating services as amongst the least understood but potentially most valuable services offered by ecosystems. This lack of understanding of regulating services has been a major reason for the overexploitation and degradation of ecosystems. The value of regulating services is best determined through an economic production function approach, which derives the value of regulating services as intermediate inputs into other economic goods and services. We used existing scientific knowledge and data sourced from existing scientific databases and studies to develop and demonstrate empirical production functions that measure relationships between ecological infrastructure and the economy in fisheries in KwaZulu-Natal, along the east coast of South Africa. We applied econometric analyses a technique that allows for evidence-based analysis of observed data, based on existing scientific knowledge. Our work demonstrates that existing scientific databases may contain useful evidence of relationships between ecological infrastructure and the economy, and that decisions need not always wait for the results of controlled experiments.

Financial development and energy consumption in Central and Eastern European frontier economies

International Nuclear Information System (INIS)

Sadorsky, Perry

2011-01-01

This study examines the impact of financial development on energy consumption in a sample of 9 Central and Eastern European frontier economies. Several different measures of financial development are examined including bank related variables and stock market variables. The empirical results, obtained from dynamic panel demand models, show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using banking variables like deposit money bank assets to GDP, financial system deposits to GDP, or liquid liabilities to GDP. Of the three stock market variables investigated, only one, stock market turnover, has a positive and statistically significant impact on energy consumption. Both short-run and long-run elasticities are presented. The implications of these results for energy policy are discussed. - Research Highlights: → Financial development affects energy consumption in 9 Central and Eastern European frontier economies. → Bank variables have a larger impact on energy consumption than do stock market variables. → Long run bank elasticities range from 0.117 to 0.276. → These results have implications for energy demand forecasts and greenhouse gas emissions.

Study of a Russian University's Organisational Culture in Transition from Planned to Market Economy

Science.gov (United States)

Pushnykh, Victor; Chemeris, Valeriy

2006-01-01

The transition from a planned centralist economy to a market economy over the last decade of the 20th century has presented Russian universities with many profound challenges. These challenges require universities to review and consider their organisational culture and deserve careful study. This paper describes the changes that have taken place…

UNDERGROUND ECONOMY, INFLUENCES ON NATIONAL ECONOMIES

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CEAUȘESCU IONUT

2015-04-01

Full Text Available The purpose of research is to improve the understanding of nature underground economy by rational justification of the right to be enshrined a reality that, at least statistically, can no longer be neglected. So, we propose to find the answer to the question: has underground economy to stand-alone?

Growth and energy nexus in Europe revisited: Evidence from a fixed effects political economy model

International Nuclear Information System (INIS)

Menegaki, Angeliki N.; Ozturk, Ilhan

2013-01-01

This is an empirical study on the causal relationship between economic growth and energy for 26 European countries in a multivariate panel framework over the period 1975–2009 using a two-way fixed effects model and including greenhouse gas emissions, capital, fossil energy consumption, Herfindahl index (political competition) and number of years the government chief executive stays in office (political stability) as independent variables in the model. Empirical results confirm bidirectional causality between growth and political stability, capital and political stability, capital and fossil energy consumption. Whether political stability favors the implementation of growth or leads to corruption demands further research. - Highlights: • Economic growth and energy for 26 European countries is examined. • Two-way fixed effects model with political economy variables is employed. • Bidirectional causality is observed between growth and political stability

Impact of Worker Remittances on Economic Growth of Pakistan: Analysis of Pakistan’s Economy

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M. Mobeen Shafqat

2014-06-01

Full Text Available We make this study for the purpose of getting logical answer about avery famous matter regarding contribution of worker’s remittance in the growth of the economy of Pakistan. We also include different variables to evaluate the exact effect of foreign exchange earnings in economic growth of Pakistan by using time series data for the duration of 1991 to 2010. Here we applied OLS multiple regressions model and also check the assumptions of OLS by different diagnostic tests. The empirical and quantitative results describe that foreign remittance are the famous mean of economic growth and have significant positive relationship with each other. The productive use of this paper can help the economy of Pakistan to maintain and improve the economic growth by investing this money into different long term and short term projects. Pakistan’s Government should provide different incentives and lower down the cost of transactions to attract the overseas Pakistani emigrants that sent money through unofficial ways.

Multilevel approaches and the firm-agglomeration ambiguity in economic growth studies

NARCIS (Netherlands)

van Oort, F.G.|info:eu-repo/dai/nl/107712741; Burger, M.J.|info:eu-repo/dai/nl/371741092; Knoben, J.; Raspe, O.

2012-01-01

Empirical studies in spatial economics have shown that agglomeration economies may be a source of the uneven distribution of economic activities and economic growth across cities and regions. Both localization and urbanization economies are hypothesized to foster agglomeration and growth, but recent

Financialization at the international level: evidence from emerging market economies

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Raquel A. Ramos

Full Text Available Abstract The paper focuses on the manifestations of financialization in the international sphere, which it defines as the increasing magnitude of finance and its decoupling from earlier functions and logic as the speculative motive is strengthened. With financialization the motive of finance is no longer to finance trade and production but to accumulate wealth, which in emerging market economies (EMEs takes place through innovative products and practices that have in common the focus on exchange rate returns, resulting in a strengthened speculative motive. The article reviews the financialization literature highlighting how the different closed-economy aspects impact the international sphere. It conducts empirical analyses based on the financial integration of a country and on the characteristics of its currencies’ FX markets to assess the presence of financialization and its characteristics among EMEs, indicating certain countries where this process is more intense.

Mission Operations Planning with Preferences: An Empirical Study

Science.gov (United States)

Bresina, John L.; Khatib, Lina; McGann, Conor

2006-01-01

This paper presents an empirical study of some nonexhaustive approaches to optimizing preferences within the context of constraint-based, mixed-initiative planning for mission operations. This work is motivated by the experience of deploying and operating the MAPGEN (Mixed-initiative Activity Plan GENerator) system for the Mars Exploration Rover Mission. Responsiveness to the user is one of the important requirements for MAPGEN, hence, the additional computation time needed to optimize preferences must be kept within reasonabble bounds. This was the primary motivation for studying non-exhaustive optimization approaches. The specific goals of rhe empirical study are to assess the impact on solution quality of two greedy heuristics used in MAPGEN and to assess the improvement gained by applying a linear programming optimization technique to the final solution.

Studies and Investigation about the Attitude towards Sustainable Production, Consumption and Waste Generation in Line with Circular Economy in Romania

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Elena Simina Lakatos

2018-03-01

Full Text Available With a rapidly growing world population and the need to address the issue of consumption of global resource and its associated environmental impacts and other social and economic issues, the demand for a responsible consumption, production and prevention of waste generation become increasingly crucial. With this broad characterization of Sustainable Consumption and Production (SCP, businesses based on circular economy should become the norm. With this goal in mind, an online questionnaire survey was performed on a nationwide scale, to explore consumers’ behaviors and attitudes. It was distributed in all four of Romania’s macro-regions and reached 642 respondents. The purpose of the study has been to better understand consumers’ behavior regarding sustainable consumption and production and examine whether generations play a role in responsible consumer attitudes toward the products. Three generations (X, Y, and Z have been examined and compared. The results show that what extent those three generation agree with the environment and the benefits of reducing resource consumption, also waste generation, selective collection, recycling and reuse. However, most of them have not adopted and do not intend to adopt consumer patterns based on the circular economy. The findings provide empirical evidence and directions that could help marketers identify their consumer’s characteristics and market segments and develop consumer empowerment strategies on the Romanian market.

Baumol's disease and dematerialization of the economy

Energy Technology Data Exchange (ETDEWEB)

Kander, Astrid [Department of Economic History, Box 7083, 220 07 Lund (Sweden)

2005-10-05

This paper argues that there is reason to be skeptical about the idea that the transition to a service economy will bring about dematerialization of production and consequent environmental improvement. This is because the shift to a service economy is an illusion in terms of real production, but is instead generated by the fall in the price of manufacturing goods relative to services, which is in turn caused by more rapid productivity growth in manufacturing than in services. This argument relies on the insights Baumol provided on the nature of the service economy and uses Swedish long-term data on relative sectoral development as an empirical illustration. On the other hand, the paper argues that there is reason to be cautiously optimistic that structural change may bring about a greening of growth, namely the changes in growth patterns sometimes labeled the third industrial revolution, which is connected to the emergence of microelectronics. Swedish CO{sub 2} emissions show a decline after 1970, which is mainly explained by a politically driven change in the mix of energy carriers, but is also related to the stabilization of energy consumption. This energy stabilization was caused by slow growth of the economy in conjunction with substantial declines in energy intensity within industrial sectors and an absence of relative growth of the heavy sectors, a growth that had marked the economy between 1870 and 1970. Microelectronics have contributed to permanently transforming the Swedish industrial sector in a lighter direction, reducing energy losses in heavy industries and stabilizing household energy consumption. So it appears as if there may be some environmental gains from this development that was initiated in the 1970s, but not from relatively more production in the service sector.

Competitive intelligence in emerging economies: A comparative study between Brazil and South Africa

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N Sewdass

2015-07-01

Full Text Available Competitive intelligence (CI has long been recognised as a strategic management tool that could enhance competitiveness. CI is expected to play an essential developmental role in emerging economies. The need to enhance companies’ competitiveness has grown rapidly. CI is essential, and will increasingly be a challenge in the years to come, especially for emerging economies. This article will compare CI activities in South Africa with CI activities in Brazil. Companies in these two countries have faced increased environmental uncertainty and increasingly there is a need to compete. A questionnaire survey methodology was used where questionnaires were administered to CI experts in organisations in South Africa and Brazil. The findings of the study revealed that only a limited number of organisations in Brazil and South Africa recognise the importance of a CI unit. It was also interesting to note that the CI function is more mature in South Africa than in Brazil. As Brazil and South Africa become more integrated into the global economy, it stands to reason that the global economy will have more of an impact on the countries’ economies. To this end it has become more crucial to monitor global events and trends and it is very important for both countries to develop a CI culture.

Episodes of large exchange rate appreciations and reserves accumulations in selected Asian economies: Is fear of appreciations justified?

OpenAIRE

Victor Pontines; Reza Siregar

2012-01-01

The objective of our paper is to provide an empirical platform to the debate on the macroeconomic consequences of large currency appreciations. Observing the experiences of six major Asian economies (the ASEAN-5 (Indonesia, Malaysia, Philippines, Thailand and Singapore) and Korea) during the past two decades, the primary aim of this study is to ascertain the consequences of strong currencies, on the one hand, and reserves accumulation, on the other, for a set of vital macroeconomic indicators...

The Consequences of China's Impending Economic Crisis on Global Economy: A Predictive Scenario on Sub-Saharan Africa

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Mavhungu Abel Mafukata

2016-10-01

Full Text Available The main objective of this paper is to predict the consequences of China's impending economic crisis on global economy – with reference to Sub-Saharan Africa (SSA in particular. The specific objective of this paper is to investigate and explore the increasing dominance of economic practice of China in SSA. China is a critical principal player in the economy of SSA. China's influence and dominance of the SSA economy might have negative effect on SSA in case of any implosion of the Chinese economy. Data were collected from print and electronic sources extracted from the vast body of empirical scholarship of different disciplines on China in SSA.  The results of this paper revealed that China is indeed dominating the economy in SSA. Pointers are that China's economic implosion would have consequences for SSA in the same way as the 2008-2009 global economic recession had around the world. This  paper positively predicts that China's economic and financial implosion remains a possibility, and would impact on SSA.

The Globalization of the Business Sector in a Small Open Economy

DEFF Research Database (Denmark)

Thompson, Grahame; Kaspersen, Lars Bo

2012-01-01

The growth of multinational corporations (MNCs) is often taken as a quintessential indicator of ‘globalization’. But recent detailed empirical analysis has challenged the idea that most MNCs are global in terms of their business strategy and arena of operations. This article first clarifies...... the differences between globalization, internationalization and supranational-regionalization by examining the evidence on trade and investment patterns for Denmark. In particular, it presents a detailed analysis of the business strategies of the large corporate sector in Denmark. Denmark is an interesting case......, as it is a small open economy (SOE) that might be thought to be one uniquely vulnerable to the forces of globalization. Up until now examination of MNCs' internationalization strategies has concentrated upon large economies. We provide evidence for a SOE. In addition, we expand the range of dimensions used...

Treadmill training improves overground walking economy in Parkinson’s disease: A randomized, controlled pilot study

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Miguel eFERNANDEZ-DEL-OLMO

2014-09-01

Full Text Available Gait disturbances are one of the principal and most incapacitating symptoms of Parkinson’s disease (PD. In addition, walking economy is impaired in PD patients and could contribute to excess fatigue in this population. An important number of studies have shown that treadmill training can improve kinematic parameters in PD patients. However, the effects of treadmill and overground walking on the walking economy remain unknown. The goal of this study was to explore the walking economy changes in response to a treadmill and an overground training program, as well as the differences in the walking economy during treadmill and overground walking. 22 mild PD patients were randomly assigned to a treadmill or overground training group. The training program consisted of 5 weeks (3 sessions/week. We evaluated the energy expenditure of overground walking, before and after each of the training programs. The energy expenditure of treadmill walking (before the program was also evaluated. The treadmill, but not the overground training program, lead to an improvement in the walking economy (the rate of oxygen consumed per distance, during overground walking at a preferred speed in PD patients. In addition, walking on a treadmill required more energy expenditure compared with overground walking at the same speed. This study provides evidence that in mild PD patients, treadmill training is more beneficial compared with that of walking overground, leading to a greater improvement in the walking economy. This finding is of clinical importance for the therapeutic administration of exercise in Parkinson’s disease.

The Benefits and Dangers of Outsourcing Employees in an Emerging Economy

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Damaro Olusoji Arubayi

2012-12-01

Full Text Available This paper presents the findings of the benefits and dangers of outsourcing in an emerging economy using hr managers selected public and private sectors as case studies. The aim of the study was to determine the impact of outsourcing on the employees. The findings suggested that although it has positive outcomes in achievement of organizational goals, employees are weakened by the negative impact of outsourcing as it increases job insecurity, demotivation in the organization. The significance of the study was to highlight the impact of outsourcing on employees and its relation with management although there’s not much empirical evidence, this paper thus addresses this issue. It is hoped that this study would add to knowledge, create awareness, refine the existing practices in the organization and change the attitudes of employees for better performance and organizational success.

Developing Maqasid al-Shari’ah Index to Evaluate Social Performance of Islamic Banks: A Conceptual and Empirical Attempt

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Mehmet Asutay

2015-07-01

Full Text Available The rise of Islamic banking and finance is now a reality with Shari 'ah compliant financial operations existing in many different parts of the world. However, its development has recently been subjected to criticism in relation to the aspirational objectives of Islamic moral economy, which constitutes the moral foundations of Islamic finance. The aspirational objectives are general expressed with maqasid al-Shari'ah, which is defined as 'human well-being'.The aim of this research, hence, is to evaluate the social performance of Islamic banks according to maqasid al-Shari'ah upon the realization of Islamic Moral Economy aspirations. AbdelMajid Najjar's concept of maqasid al-Shari 'ah with eight orientations or articulations is adopted to construct an evaluation framework aligned with the objective of rendering a critical improvement of current empirical studies.In operationalizing the developed framework, this study conducts empirical investigations by taking 13 banks from 6 countries for 5-year period (2008-2012 as a sample. In doing so, the annual reports of the sampled banks for the period are subjected to content analysis to generate the necessary data in applying to the formulated framework.Empirical evidence indicates that there is lack of achievement in maqasid al-Shari 'ah performance of Islamic bank and finance. Nevertheless, the overall industry concentrates mainly on self, faith and rights and stakeholding rather than wealth orientation, despite the fewer contributions in social entity, intellect, posterity and ecology. Additionally, the empirical results find that there are different orientations across the banks and countries. Finally, the industry orientation is estimated in this research, which is located to be somewhere betweenfaith and rights and stakeholding.Keywords: Maqasid al-Shari 'ah, Islamic Banking and Finance, Evaluation, Performance

Statistical Study of Transformation Changes in the Ukrainian Economy

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O. V.

2017-12-01

Full Text Available The article deals with the economic diagnostics of some important macroeconomic indicators of Ukraine that will reveal the nature and speed of the economic transformation. During the period of 2003–2007, the Ukrainian economy grew at an impressive pace. However, at present, the country is undergoing a period of serious trials, it needs to address structural problems that endanger long-term economic growth. The way out of the current situation should be the realization of the potential for growth of advanced sectors and increase of productivity across the national economy. Special attention should be paid to the transition from extractive institutions to inclusive ones. Key factors in accelerating the Ukrainian economy are more vigorous fight against corruption and investment attraction. A set of institutional variables is proposed, which allows for a more thorough assessment of the nature of economic transformation in Ukraine and detection of such deviations – transformation of the national economy occurs at different speeds. Along with the traditional shifts in the structure of GDP (the dominating share of services, there’s still insignificant statistical effect of such important institutional categories as the level of political globalization, the control of corruption, the level of property rights protection, the rule of law, and the level of social globalization.

Determinants of the Shadow Economy in the Czech Regions: A Region-Level Study

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Buček Jakub

2017-09-01

Full Text Available This paper investigates the size and development of the shadow economy in the Czech Republic on the state-level base over the 2005-2014 period. The multiple indicators multiple causes (MIMIC model is used to assess the estimation of the shadow economy size. I investigate how labour market, number of people with at least one distraint, and the burden of taxation might contribute to the existence of the shadow economy. While the former two are important determinants of the shadow economy, I find no evidence to prove any significant impact of distraints on the shadow economy size. As for the country’s particular regions, I find that those surrounding big cities, especially Prague, have, on average, a smaller shadow economy size, whereas regions in the borderlands (former Sudetenland suffer from a larger shadow economy.

Institutional Change and Governance Indexes in Transition Economies: the case of Poland

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Pasquale Tridico

2006-12-01

Full Text Available In the former communist countries, institutional change, i.e. transition towards market economy, is affected not only by introduction of law and formal institutions (change "by design", but also by social norms, old values and habits (informal institutions. I present an empirical paper focusing on transition of the Polish Economy. I used a questionnaire which was administered to a sample of about 1000 Polish firms in order to verify the impact of economic institutions on the "residual productivity". Throughout the questionnaire I built six governance indexes. Then I tested the impact of the governance indexes on the productivity of firms. I observed that the economic performance of the eastern regions of Poland, where governance indexes are worse than western, are poorer than that of the western regions of Poland

Assessing Country’s Reliance on Renewable Energy through Energy Profile and Political Economy Aspects: A Cross Countries Study from 1990 to 2012

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Santi Hapsari Paramitha

2017-12-01

Full Text Available This study examines the relationship between country’s reliance on renewable energy, energy profile, and political economy aspects using dynamic panel data models for a global panel consisting of 43 countries. The time component of our dataset is 1990-2012 inclusive. To make the observation more specific, this study investigates the relationship of a number of sub-samples which are constructed based on the region where the countries belong. In this way, this study ends up with several region samples; namely Western, Asia, Middle East (ME, Africa, Commonwealth of Independent States (CIS, and Latin America. In the empirical part, this study performs a region-based analysis to capture any variations and logical explanation behind them. The results suggest that dependency on oil import, engagement on international environment agreement, economic development, and country size country’s reliance on renewable energy are among the factors that are statistically significant to influence country’s adoption of renewable energy.

Imperial Policy and the Integration of Gaul into the Roman Empire

Science.gov (United States)

2015-06-12

ECONOMIC BENEFITS OF EMPIRE From as early as the second century BC Gaul had a taste for the material outputs of the Roman economy. Wine in particular...Rome tolerated the establishment of local Gallic production. This meant the growth in Gaul’s wine consumption benefited Gallic producers and not...exporter of sought after wines . Wine production was not the only industry that benefited from the Roman conquest. Complementing Gallic viticulture

Theory and empiricism of shadow economy - an economic analysis example for Austria

International Nuclear Information System (INIS)

Kuntzer, H.-P.

2000-09-01

considered to be insufficient. Seen as the most suitable method is the currency demand approach that SCHNEIDER among others applies to his empirical surveys about the shadow economy in Austria. This treatise is therefore based on these as well as on other secondary data and differently complemented by own calculations. The result shows an increase in the importance of shadow economy in Austria whereas within the search for reasons not all of the theoretical formulations could be proved. It rather shows that the importance of state regulations has increased through the growing shadow economic part of total economic activities. Moreover it can be proved that a lowering in direct taxes leads to a declining shadow economy whereas the effects of lower indirect taxes and social security contributions do not automatically correspond with the expected theoretical formulations. Before it is dealt with the total economic effects, the shadow economic effects are illustrated through some sectors, which are typical for shadow economic activities. Besides the 40 billions shillings loss of taxes in 1997, the labor market is effected in particular. The listed empirical results however are of hypothetical nature because they are projections based on theoretical preliminary considerations. It cannot be surprising that theory and empiricism do not correspond. On account of a missing reference situation a real empirical examination is not possible. Due to the listed results it is not surprising that the punitive measures have come out as relatively ineffective. On the one hand they only attack single problems with only single punctual effects, e.g. the intensive control of special sectors and on the other hand they seem to be impracticable because they miss their actual aim - to reduce the shadow economy. This treatise concludes with the statement that it is not the missing interest of policy, economy and population that hinders an effective decline in shadow economy. Out of political

Engineering and technology talent for innovation and knowledge-based economies competencies, leadership, and a roadmap for implementation

CERN Document Server

Abdulwahed, Mahmoud

2017-01-01

This book introduces and analyzes the models for engineering leadership and competency skills, as well as frameworks for industry-academia collaboration and is appropriate for students, researchers, and professionals interested in continuous professional development. The authors look at the organizational structures of engineering education in knowledge-based economies and examine the role of innovation and how it is encouraged in schools. It also provides a methodological framework and toolkit for investigating the needs of engineering and technology skills in national contexts. A detailed empirical case study is included that examines the leadership competencies that are needed in knowledge-based economies and how one university encourages these in their program. The book concludes with conceptual modeling and proposals of specific organizational structures for implementation in engineering schools, in order to enable the development of necessary skills for future engineering graduates.

Characterizing Student Expectations: A Small Empirical Study

Science.gov (United States)

Warwick, Jonathan

2016-01-01

This paper describes the results of a small empirical study (n = 130), in which undergraduate students in the Business Faculty of a UK university were asked to express views and expectations relating to the study of a mathematics. Factor analysis is used to identify latent variables emerging from clusters of the measured variables and these are…

Exploring the connections between green economy and informal economy in South Africa

Directory of Open Access Journals (Sweden)

Suzanne Smit

2015-11-01

Full Text Available The notion of an inclusive green economy in the context of sustainable development and poverty eradication requires an approach that engages with the informal economy. However, the informal economy is generally ignored or undervalued in discussions on the green economy. This paper set out to bolster this argument by identifying the ways in which the green economy and the informal economy may be connected by establishing the extent to which policies and plans relating to green economy connect with the informal economy, and recognising several informal green activities. The barriers and opportunities for connecting the two spheres were also explored as well as possible ways in which such activities may be supported at different levels of organisation. In the case of South Africa, many informal green activities that contribute to sustainable livelihoods are recognised. However, issues pertaining to procedure, process and participation hinder the transition to a truly inclusive green economy.

Financing the Transition to a Green Economy - An empirical investigation of how Norwegian firms can achieve business models for sustainability

OpenAIRE

Pedersen, Synne Mari; Slette, Sunniva Bratt

2016-01-01

The objective of this Master s thesis is to explore the interaction between the state of the current financial system and sustainable value creation of companies. This is done by examining how the financial community and business actors can address tensions that currently provide barriers for sustainability investments. The thesis is structured as an exploratory case study within the context of Norwegian industry development in the transition to a green economy. More specifically, the study i...

MARKETING IMPLICATION IN WINE ECONOMY

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Ştefan MATEI

2014-11-01

Full Text Available The wine, a very complex product in viticulture, has proved its tremendous importance not only to the individual but rational nutrition and increasing national income of a country cultivators (evidenced by the upward trend of the share of crop production horticulture and viticulture in the global economy agricultural. More interesting is, given the continued growth in the number of scientific publications and their quality (at least since the 1980s - where "wine" is the centerpiece of these studies - we can not but be witnessing a growing interest more to this "potion" and found that the growing popularity of wine in the science reveals the emergence of a new academic field, ie "wine economy" (or wine-economy. This study aims to make a foray into "wine economy" and to outline some of the implications of marketing in this area.

Revisiting the Political Economy of Communication

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Nicholas Garnham

2014-02-01

The task of the paper and the seminar was to revisit some of Nicholas Garnham’s ideas, writings and contributions to the study of the Political Economy of Communication and to reflect on the concepts, history, current status and perspectives of this field and the broader study of political economy today. The topics covered include Raymond Williams’ cultural materialism, Pierre Bourdieu’s sociology of culture, the debate between Political Economy and Cultural Studies, information society theory, Karl Marx’s theory and the critique of capitalism.

Determinants of Foreign Direct Investments in Transition Economies: Case of Commonwealth of Independent Countries

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Sobir Shukurov

2016-01-01

Full Text Available While there has been voluminous research on the determinants of FDI for developed and developing countries, little has been done on this issue for transition economies, especially, for the Commonwealth of Independent States (CIS countries. the present paper examines the determinants of inward Foreign Direct Investment (FDI flows in the CIS during 1995–2010. the results of empirical analysis using panel data models, conducted with the purpose of identifying the factors that determine the motivation and decision of multinational companies (MNC to invest in CIS economies, show that regardless of the presence of high investment risk in transition economies, the choice of FDI location always depends on a preliminary analysis of countries’ advantages (FDI stock, market size, abundance in natural resources and disadvantages at macro level (fiscal imbalance and inflation. These pre‑existing conditions can always roughly predict the type of FDI (resource-seeking, market‑seeking, efficiency-seeking.

The search for co-integration between money, prices and income: Low frequency evidence from the Turkish economy

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Saatçioğlu Cem

2009-01-01

Full Text Available In this paper, we aim to test the empirical validity of the QTM relationship for the Turkish economy. Using some contemporaneous time series estimation techniques, our estimation results reveal that stationarity characteristics of the velocities of currency in circulation and the broad money aggregate in the economy cannot be rejected through a quantity theoretical co-integrating long-term variable space. We find that there exists an about one-to-one proportionality between money and prices and money and real income, and that exogeneity of money cannot be rejected for the currency in circulation in the economy. But, the exception here comes from the broad monetary aggregate used in the QTM equation such that money seems to be endogenous as for the long-term variable space.

The economy and absenteeism: a macro-level study.

Science.gov (United States)

Shoss, Mindy K; Penney, Lisa M

2012-07-01

Despite much speculation, little is known about the net effects of the economy on the employed workforce. To fill this gap, we used state-level data collected by the Bureau of Labor Statistics to examine the effects of the condition of the economy, as indicated by the unemployment rate, on incidence rates of absence reportedly due to symptoms of illness and violent acts in the workplace for 43 states from 1992 to 2009. Our results suggest that the unemployment rate is positively associated with these indicators of absenteeism, and that these effects are delayed in time. (PsycINFO Database Record (c) 2012 APA, all rights reserved).

Green economy. From theory to practice; 'Green Economy'. Von der Theorie zur Praxis

Energy Technology Data Exchange (ETDEWEB)

Wackerbauer, Johann [ifo Institut, Muenchen (Germany)

2013-04-15

The topic of ''green economy'' took centre stage at last year's UN conference on sustainable development in Rio de Janeiro. The term ''green economy'' has many interpretations to it, ranging from an emphasis on energy and resource efficiency in an otherwise ordinary economy to positions that are critical of growth as such. What can be considered as the essence of the concept of green economy, and what challenges need to be mastered on the way there? The present study shows that there is more to the term than most companies and consumers are aware of.

Human economy and natural economy

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Masullo Andrea

2014-03-01

Full Text Available The decline of economy is due to its dependency from a virtual value, the currency, the coin, that in the recent phase of consumerism is so far from real value: human capital and natural capital. If human economy wants to continue to produce wellbeing, it must accept to be a subset of natural economy, intercept flux of matter produced by its circular mechanisms, put constraints in it, i.e. machines and structures, to direct it temporarily for our advantage, and finally release it to the same original flux, in an still usable state. In this way it will assume a function no more parasitic but symbiotic. It will be connected to natural cycles without destroying it, recovering the co-evolutionary link between nature and culture, building an economic web suited to the ecological web; thus we will have a mosaic characterised by biodiversity, technological diversity, and cultural diversity, able to produce a durable prosperity.

Study on Chinese model of low carbon economy-energy-electricity-environment

Energy Technology Data Exchange (ETDEWEB)

Hu, Zhaoguang

2010-09-15

With the successful experience on energy efficiency in the past 30 years in China, it can be summarized as Energy Usage Management(EUM) and Integrated Resource Strategic Planning(IRSP). They will play essential role in Low Carbon Economy. The model of Low Carbon Economy-Energy-Electricity-Environment and an outlook of Chinese economic growth, energy-electricity demand, and renewable energy generation have been studied in this paper. It has been shown that China would save energy 4.38 billion toe and reduce CO2 emission 16.55 billion ton by EUM, and would save energy 1.5 billion toe and reduce CO2 emission 5.7 Btons by IRSP during 2010-2030.

The symbolic economy of drugs.

Science.gov (United States)

Lentacker, Antoine

2016-02-01

This essay reviews four recent studies representing a new direction in the history of pharmaceuticals and pharmaceutical science. To this end, it introduces the notion of a symbolic economy of drugs, defined as the production, circulation, and reception of signs that convey information about drugs and establish trust in them. Each of the studies under review focuses on one key signifier in this symbolic economy, namely the brand, the patent, the clinical trial, and the drug itself. Drawing on Pierre Bourdieu's theory of the economy of symbolic goods, I conceptualize these signifiers as symbolic assets, that is, as instruments of communication and credit, delivering knowledge, carrying value, and producing authority. The notion of a symbolic economy is offered with a threefold intention. First, I introduce it in order to highlight the implications of historical and anthropological work for a broader theory of the economy of drugs, thus suggesting a language for interdisciplinary conversations in the study of pharmaceuticals. Second, I deploy it in an attempt to emphasize the contributions of the recent scholarship on drugs to a critical understanding of our own contemporary ways of organizing access to drugs and information about drugs. Finally, I suggest ways in which it might be of use to scholars of other commodities and technologies.

Organisational Learning and Performance--An Empirical Study

Science.gov (United States)

Jyothibabu, C.; Pradhan, Bibhuti Bhusan; Farooq, Ayesha

2011-01-01

This paper explores the important question "how the learning entities--individual, group or organisation--are affecting organisational performance". The answer is important for promoting learning and improving performance. This empirical study in the leading power utility in India found that there is a positive relation between…

Teaching empirical finance courses: A project on portfolio management

OpenAIRE

Morley, Bruce

2016-01-01

The aim of this article was to assess the use of a group-based project for an empirical finance type of course. It examines the outline of the project, the methodology the students are encouraged to follow and how the course is assessed. This approach enables the students to apply many of the techniques learnt on this course and other courses such as econometrics, to determine an optimal portfolio of assets given their view on the risks in the economy. The emphasis is on risk management throu...

Economy of scale for nuclear power plants operating in hydroelectric systems - Brazilian case study

International Nuclear Information System (INIS)

Andrade, Gilberto

1996-01-01

Economy of scale is considered to enhance competitiveness of nuclear energy for electricity generation but only when high capacity factors are considered. This study shows that for the brazilian electricity generation system low capacity factors are expected and economy of scale has to be considered against the size of the Nuclear program. Units of 600 MW are competitive both for small and large Programs. (author)

Research on Consumers’ Use Willingness and Opinions of Electric Vehicle Sharing: An Empirical Study in Shanghai

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Ning Wang

2015-12-01

Full Text Available An empirical study in Shanghai was performed to explore consumers’ use willingness and opinions on electric vehicle sharing (EVS to help operators effectively operate and expand the new business model. Through the multinomial logistic regression developed for different groups, the results show that the factors of the main trip mode in daily use, monthly transportation expenditure, driving range of electric vehicles, gender, age, marital status and occupation have significant influences on consumers’ use willingness. In short, the population characteristics of people choosing to use EVS are male, aged between 18 and 30 and usually taking the subway and bus as the daily transportation modes. Otherwise, the factors of the acceptable highest price of EVS, occupation and personal monthly income have significant impacts on the use willingness of people who keep a neutral stance. These people pay more attention to convenience and the economy of EVS. These results reveal that a reasonable price, accurate positioning of target groups, convenient site layout and usage are required for operators to successfully launch a new transportation mode of EVS.

Population density and efficiency in energy consumption: An empirical analysis of service establishments

International Nuclear Information System (INIS)

Morikawa, Masayuki

2012-01-01

This study, using novel establishment-level microdata from the Energy Consumption Statistics, empirically analyzes the effect of urban density on energy intensity in the service sector. According to the analysis, the efficiency of energy consumption in service establishments is higher for densely populated cities. Quantitatively, after controlling for differences among industries, energy efficiency increases by approximately 12% when the density in a municipality population doubles. This result suggests that, given a structural transformation toward the service economy, deregulation of excessive restrictions hindering urban agglomeration, and investment in infrastructure in city centers would contribute to environmentally friendly economic growth.

EMNCS – Lessons On The Way To An Innovationbased Development. Empirical Findings

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Herciu Mihaela

2015-08-01

Full Text Available The main focus of (the two parts of this article is on the emerging countries and their development paths. Particularly, it emphasizes on the role and contribution of innovation (of all kinds, in all its forms for multinational companies from emerging economies (EMNC; the entire research endeavor is placed under the auspices of the knowledge-based society - the one that makes knowledge the ultimate source of power, enabling entities to use and potentially multiply it at the same time at global scale. Analyzing the situation of some emerging economies (starting from their best ranked multinationals, the article draws some empirical and theoretical conclusions on the ways knowledge and innovation could become determinants of progress beyond national boundaries.

Environmental ethics and wilderness management: an empirical study

Science.gov (United States)

William A. Valliere; Robert E. Manning

1995-01-01

The underlying hypothesis of this study is that environmental ethics influence public attitudes toward wilderness management. To study this hypothesis, environmental ethics were defined, categorized, and measured empirically. Additionally, attitudes toward selected wilderness management issues were measured. Associations were found between beliefs in selected...

Why the New Economy is a Learning Economy

DEFF Research Database (Denmark)

Lundvall, Bengt-Åke

In this paper it is shown that the intense focus on the new economy reflected real change as well as 'hype?. The basic reason why new economy-growth could not be seen as sustainable is that introducing advanced technologies can only take place successfully when it is accompanied by organizational...... change and competence-building among employees. Any strategy that gives technology an independent role as problem-solver is doomed to fail. Danish data of a unique character are used to demonstrate that the key to economic performance is to promote learning at different levels of the economy....... In the conclusion it is argued that there is a need for a new type of knowledge and learning oriented Keynesianism in order to get close to the kind of growth rates characterizing the high days of the new economy adventure in the US....

The Sharing Economy

DEFF Research Database (Denmark)

Avital, Michel; Carroll, John M.; Hjalmarsson, Anders

2015-01-01

The sharing economy is spreading rapidly worldwide in a number of industries and markets. The disruptive nature of this phenomenon has drawn mixed responses ranging from active conflict to adoption and assimilation. Yet, in spite of the growing attention to the sharing economy, we still do not know...... much about it. With the abundant enthusiasm about the benefits that the sharing economy can unleash and the weekly reminders about its dark side, further examination is required to determine the potential of the sharing economy while mitigating its undesirable side effects. The panel will join...... the ongoing debate about the sharing economy and contribute to the discourse with insights about how digital technologies are critical in shaping this turbulent ecosystem. Furthermore, we will define an agenda for future research on the sharing economy as it becomes part of the mainstream society as well...

The impact of financial development on energy consumption in emerging economies

International Nuclear Information System (INIS)

Sadorsky, Perry

2010-01-01

Financial development is often cited as a very important driver of economic growth in emerging economies and it is thus likely that financial development affects energy demand. This study uses generalized method of moments estimation techniques to examine the impact of financial development on energy consumption in a sample of emerging countries. Several different measures of financial development are examined. Using a panel data set on 22 emerging countries covering the period 1990-2006, the empirical results show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using stock market variables like stock market capitalization to GDP, stock market value traded to GDP, and stock market turnover. The implications of these results for energy policy are discussed.

Lessons from empirical studies in product and service variety management.

OpenAIRE

Lyons, Andrew C.L.

2013-01-01

[EN] For many years, a trend for businesses has been to increase market segmentation and extend product and service-variety offerings in order to provid more choice for customers and gain a competitive advantags. However, there have been relatively few variety-related, empirical studies that have been undertaken. In this research, two empirical studies are presented that address the impact of product and service variety on business and business function performance. In the first (service-vari...

A Field Study of Scale Economies in Software Maintenance

OpenAIRE

Rajiv D. Banker; Sandra A. Slaughter

1997-01-01

Software maintenance is a major concern for organizations. Productivity gains in software maintenance can enable redeployment of Information Systems resources to other activities. Thus, it is important to understand how software maintenance productivity can be improved. In this study, we investigate the relationship between project size and software maintenance productivity. We explore scale economies in software maintenance by examining a number of software enhancement projects at a large fi...

[Thought Experiments of Economic Surplus: Science and Economy in Ernst Mach's Epistemology].

Science.gov (United States)

Wulz, Monika

2015-03-01

Thought Experiments of Economic Surplus: Science and Economy in Ernst Mach's Epistemology. Thought experiments are an important element in Ernst Mach's epistemology: They facilitate amplifying our knowledge by experimenting with thoughts; they thus exceed the empirical experience and suspend the quest for immediate utility. In an economical perspective, Mach suggested that thought experiments depended on the production of an economic surplus based on the division of labor relieving the struggle for survival of the individual. Thus, as frequently emphasized, in Mach's epistemology, not only the 'economy of thought' is an important feature; instead, also the socioeconomic conditions of science play a decisive role. The paper discusses the mental and social economic aspects of experimental thinking in Mach's epistemology and examines those within the contemporary evolutionary, physiological, and economic contexts. © 2015 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

Economies of scale in the Korean district heating system: A variable cost function approach

International Nuclear Information System (INIS)

Park, Sun-Young; Lee, Kyoung-Sil; Yoo, Seung-Hoon

2016-01-01

This paper aims to investigate the cost efficiency of South Korea’s district heating (DH) system by using a variable cost function and cost-share equation. We employ a seemingly unrelated regression model, with quarterly time-series data from the Korea District Heating Corporation (KDHC)—a public utility that covers about 59% of the DH system market in South Korea—over the 1987–2011 period. The explanatory variables are price of labor, price of material, capital cost, and production level. The results indicate that economies of scale are present and statistically significant. Thus, expansion of its DH business would allow KDHC to obtain substantial economies of scale. According to our forecasts vis-à-vis scale economies, the KDHC will enjoy cost efficiency for some time yet. To ensure a socially efficient supply of DH, it is recommended that the KDHC expand its business proactively. With regard to informing policy or regulations, our empirical results could play a significant role in decision-making processes. - Highlights: • We examine economies of scale in the South Korean district heating sector. • We focus on Korea District Heating Corporation (KDHC), a public utility. • We estimate a translog cost function, using a variable cost function. • We found economies of scale to be present and statistically significant. • KDHC will enjoy cost efficiency and expanding its supply is socially efficient.

Knowledge management and innovation : An empirical study of Dutch SMEs

NARCIS (Netherlands)

Uhlaner, L.M.; Tan, S.; Zhou, H.

2007-01-01

Western economies are increasingly viewed as knowledge-driven (Audretch and Thurik, 2001, 2004). Knowledge plays a crucial role in determining firm innovation capability and in enhancing working life quality of knowledge workers (Corso, Martini, Pelligrini, and Paolucci, 2001). Previous studies show

Empirical pseudo-potential studies on electronic structure

Indian Academy of Sciences (India)

Theoretical investigations of electronic structure of quantum dots is of current interest in nanophase materials. Empirical theories such as effective mass approximation, tight binding methods and empirical pseudo-potential method are capable of explaining the experimentally observed optical properties. We employ the ...

On Integrating Student Empirical Software Engineering Studies with Research and Teaching Goals

NARCIS (Netherlands)

Galster, Matthias; Tofan, Dan; Avgeriou, Paris

2012-01-01

Background: Many empirical software engineering studies use students as subjects and are conducted as part of university courses. Aim: We aim at reporting our experiences with using guidelines for integrating empirical studies with our research and teaching goals. Method: We document our experience

Study on China's low carbon development in an Economy-Energy-Electricity-Environment framework

International Nuclear Information System (INIS)

Hu Zhaoguang; Yuan Jiahai; Hu Zheng

2011-01-01

Emissions mitigation is a major challenge for China's sustainable development. We summarize China's successful experiences on energy efficiency in past 30 years as the contributions of Energy Usage Management and Integrated Resource Strategic Planning, which are essential for low-carbon economy. In an Economy-Energy-Electricity-Environment (E4) framework, the paper studies the low-carbon development of China and gives an outlook of China's economy growth, energy-electricity demand, renewable power generation and energy conservation and emissions mitigation until 2030. A business-as-usual scenario is projected as baseline for comparison while low carbon energy and electricity development path is studied. It is defined as low carbon energy/electricity when an economy body manages to realize its potential economic growth fueled by less energy/electricity consumption, which can be characterized by indexes of energy/electricity intensity and emissions per-unit of energy consumption (electricity generation). Results show that, with EUM, China, could save energy by 4.38 billion ton oil equivalences (toes) and reduce CO 2 emission by 16.55 billion tons; with IRSP, China, could save energy by 1.5 Btoes and reduce CO 2 emission by 5.7 Btons, during 2010-2030. To realize the massive potential, China has to reshape its economic structure and rely much on technology innovation in the future. - Research highlights: → In an E4 framework China's low-carbon development is compared with BAU scenario. → Low carbon energy/electricity and their related measuring indexes are discussed. → China's successful experiences on energy efficiency are summarized as EUM and IRSP. → With them China could save energy by 5.8 Btoe and reduce CO 2 by 22.2 Bton until 2030. → China must restructure its economy and rely on technology innovation for them.

Structural change of the physical economy. Decomposition analysis of physical and hybrid-unit input-output tables

International Nuclear Information System (INIS)

Hoekstra, R.

2003-01-01

Economic processes generate a variety of material flows, which cause resource problems through the depletion of natural resources and environmental issues due to the emission of pollutants. This thesis presents an analytical method to study the relationship between the monetary economy and the 'physical economy'. In particular, this method can assess the impact of structural change in the economy on physical throughput. The starting point for the approach is the development of an elaborate version of the physical input-output table (PIOT), which acts as an economic-environmental accounting framework for the physical economy. In the empirical application, hybrid-unit input-output (I/O) tables, which combine physical and monetary information, are constructed for iron and steel, and plastic products for the Netherlands for the years 1990 and 1997. The impact of structural change on material flows is analyzed using Structural Decomposition Analysis (SDA), whic specifies effects such as sectoral shifts, technological change, and alterations in consumer spending and international trade patterns. The study thoroughly reviews the application of SDA to environmental issues, compares the method with other decomposition methods, and develops new mathematical specifications. An SDA is performed using the hybrid-unit input-output tables for the Netherlands. The results are subsequently used in novel forecasting and backcasting scenario analyses for the period 1997-2030. The results show that dematerialization of iron and steel, and plastics, has generally not occurred in the recent past (1990-1997), and will not occur, under a wide variety of scenario assumptions, in the future (1997-2030)

Structural change of the physical economy. Decomposition analysis of physical and hybrid-unit input-output tables

Energy Technology Data Exchange (ETDEWEB)

Hoekstra, R.

2003-10-01

Economic processes generate a variety of material flows, which cause resource problems through the depletion of natural resources and environmental issues due to the emission of pollutants. This thesis presents an analytical method to study the relationship between the monetary economy and the 'physical economy'. In particular, this method can assess the impact of structural change in the economy on physical throughput. The starting point for the approach is the development of an elaborate version of the physical input-output table (PIOT), which acts as an economic-environmental accounting framework for the physical economy. In the empirical application, hybrid-unit input-output (I/O) tables, which combine physical and monetary information, are constructed for iron and steel, and plastic products for the Netherlands for the years 1990 and 1997. The impact of structural change on material flows is analyzed using Structural Decomposition Analysis (SDA), whic specifies effects such as sectoral shifts, technological change, and alterations in consumer spending and international trade patterns. The study thoroughly reviews the application of SDA to environmental issues, compares the method with other decomposition methods, and develops new mathematical specifications. An SDA is performed using the hybrid-unit input-output tables for the Netherlands. The results are subsequently used in novel forecasting and backcasting scenario analyses for the period 1997-2030. The results show that dematerialization of iron and steel, and plastics, has generally not occurred in the recent past (1990-1997), and will not occur, under a wide variety of scenario assumptions, in the future (1997-2030)

INSTITUTIONAL DETERMINANTS OF INVESTMENT INFLOWS INTO TRANSITION ECONOMIES

Directory of Open Access Journals (Sweden)

Donu Victoria

2015-12-01

Full Text Available This article investigates the relationship between institutional quality and the level of investment inflows into post-communist countries. We attempt to empirically verify the argument that institutional determinants are essential in explaining the variation in investment inflows into transition economies after the demise of socialism in the early 1990s. The role of institutions is assessed using Economic Freedom indices provided by the Heritage Foundation. Consequently, to investigate the progress of institutional quality in transition economies, we further employ indicators developed by the European Bank for Reconstruction and Development. Using a panel data set for 11 transition countries from 1993 to 2013, we conclude that the impact of institutional quality on investment inflows is not negligible, yet much weaker than suggested by the existing theoretical literature. Using a  fixed-effects model framework in both regression benchmarks with metrics from the Heritage Foundation and the European Bank for Reconstruction and Development, respectively, we observe that the impact of institutional variables on the level of investment was less significant than expected. Moreover, macroeconomic fundamentals appear to always play a more substantial role than institutional factors.

The Czech labour market after the crisis of a real economy: negative development or return to steady-state?

Directory of Open Access Journals (Sweden)

Pavel Tuleja

2011-01-01

Full Text Available This paper studies the Czech economy before, during and after the economic crisis. Consequences on the labour market, respectively on unemployment are also discussed in the paper. According to most economists the cause of the economic crisis was the financial crisis which was triggered by a liquidity shortfall in the United States banking system. It has resulted in the collapse of large financial institutions, the “bail out” of banks by national governments and downturns in stock markets around the world. Real gross domestic product decreased in almost all EU countries including the Czech economy. Massive drop of gross domestic product led to increase in the unemployment rate. The purpose of this paper is to contribute to discussion about consequences of this crisis. The paper provides also an analysis of gross domestic product and its components. The empirical analysis also tried to answer the question if it is more a return to steady–state than the deterioration of economic performance in the case of the Czech economy. In other words, it means that economic performance of the Czech economy was above the level of potential output. Research in this study is based on basic macroeconomic quarterly data between the years 2000 and 2010 which were published by the Czech Statistical Office and Eurostat. We found out that the Czech labour market had to cope with the consequences of the economic crisis and now it is going to reach a long-term equilibrium.

ENTREPRENEURSHIP EDUCATION AND THE ECONOMY VICIOUS CIRCLES

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MEDAR LUCIAN ION

2015-06-01

Full Text Available Education for sustainable development, involves training honest, active, social and creative persons for ensuring the link between environment, society, economy and politics. Trained entrepreneurs in sustainable development, are the engine system which can bring an economic prosperity. Lack of entrepreneurial education in the last 25 years has led accentuated conditions to avoiding economic development in all reference fields where added value can be achieved. Running away from excessive taxation led to the establishment of vicious circles in the economy. Vicious circles of the economy can be found in saving, tax policy, productive investment and the informal economy. Through this study will present the importance of entrepreneurship education in the real economy and some specifications to exit entrepreneurs from vicious circles of the economy.

The Relationship between the Generation of Electricity from Renewable Resources and Unemployment: An Empirical Study on the Egyptian Economy

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Aliaa Nabil Khodeir

2016-06-01

Full Text Available Currently, there is a global trend towards the use of renewable energy resources. This is due to their benefits in terms of economic diversification, job creation, and sustainable development. Given the suffering of the Egyptian economy from the chronic unemployment problem, this paper has adopted the effect of electricity generation from renewable resources on unemployment. It tests the hypothesis which implies an inverse relationship between renewable electricity generation and unemployment rate in Egypt. By using Autoregressive Distributed Lag (ARDL approach to identify the effects in the short and long run during the period (1989-2013, it has been found that the hypothesis was achieved in the long run only. This is due to the fact that renewable energy projects in their establishment stages focus on capital intensity more than labour intensity, but with time both direct and indirect employment effects start to emerge. The econometric results agree in the presence of a significant negative impact of both economic growth and investments on the unemployment rate.

My 2030s. Citizens about the Biobased Economy; My 2030s. Burgers over de Biobased Economy

Energy Technology Data Exchange (ETDEWEB)

Van den Berg, N.; Hulshof, M.; Van der Veen, M.

2013-02-15

My 2030s is the first qualitative study of the needs and concerns of citizens about the Biobased Economy, an economy in which fossil fuels are largely substituted by vegetable alternatives. This final report describes the reason and purpose of My 2030s, the course of the public debates and the results of research into ideas of citizens on the Biobased Economy The report concludes with recommendations on how the stakeholders can actively involve citizens in one of the major transitions of the next century [Dutch] My 2030s is het eerste kwalitatieve onderzoek naar de wensen en zorgen van burgers over de Biobased Economy, een economie waarin fossiele grondstoffen grotendeels zijn vervangen door plantaardige alternatieven. Dit eindrapport beschrijft de aanleiding en opzet van My 2030s, het verloop van de publieksdebatten en de resultaten van het onderzoek naar denkbeelden van burgers over de Biobased Economy. Het rapport eindigt met aanbevelingen over hoe de stakeholders burgers actief kunnen betrekken bij een van de belangrijkste transities van de komende eeuw.

Moneyless Economy

OpenAIRE

Das, Subhendu

2012-01-01

Moneyless economy (MLE) does not have any money in the economy. All products and services are free for all people. This means everybody must work, work for free, and get everything they want for free also. Any work that a society needs is considered legitimate. MLE is not socialism. MLE has the ability to provide a lifestyle that anyone wants. We show that it is possible to run the exact same economy that we have now, in the exact same way, and without money. Any government of any country can...

Carbon dioxide abatement in an empirical model of the Indian economy: an integration of micro and macro analysis

International Nuclear Information System (INIS)

Gupta, S.

1995-01-01

Global warming and associated climate change are the likely results of an enhanced greenhouse effect due to excessive emission of greenhouse gases. Carbon dioxide (CO 2 ) is the largest contributor to the greenhouse effect. The costs of stabilising or reducing CO 2 emissions are estimated by two types of models. Macro models based on aggregate macroeconomic relationships, study the macroeconomic impacts of and responses to different policies. These overestimate costs as technological responses are not adequately modelled. Micro models contain the necessary technical information to assess the abatement potential, but exclude indirect costs. In this study, a methodology for integrating the two approaches for developing countries is proposed and illustrated for India. The problems associated with modelling developing economies are recognized in the integrated model proposed. (Author)

Exercise economy in skiing and running

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Thomas eLosnegard

2014-01-01

Full Text Available Substantial inter-individual variations in exercise economy exist even in highly trained endurance athletes. The variation is believed to be determined partly by intrinsic factors. Therefore, in the present study, we compared exercise economy in V2-skating, double poling and uphill running. Ten highly trained male cross-country skiers (23 ± 3 years, 180 ± 6 cm, 75 ± 8 kg, VO2peak running: 76.3 ± 5.6 mL•kg-1•min-1 participated in the study. Exercise economy and VO2peak during treadmill running, ski skating (V2 technique and double poling were compared based on correlation analysis with subsequent criteria for interpreting the magnitude of correlation (r. There was a very large correlation in exercise economy between V2-skating and double poling (r = 0.81 and a large correlation between V2-skating and running (r = 0.53 and double poling and running (r = 0.58. There were trivial to moderate correlations between exercise economy and VO2peak (r = 0.00-0.23, cycle rate (r = 0.03-0.46, body mass (r = -0.09-0.46 and body height (r = 0.11-0.36. In conclusion, the inter-individual variation in exercise economy could only moderately be explained by differences in VO2peak, body mass and body height and therefore we suggest that other intrinsic factors contribute to the variation in exercise economy between highly trained subjects.

Labour flexibility in China's companies: An Empirical Study

NARCIS (Netherlands)

Y. Chen (Yongping)

2001-01-01

textabstractLabour flexibility in China???s Companies: An Empirical Study explores labour flexibility at the workplace in ten manufacturing companies in China. It addresses how HRM contributes and facilitates management in coping with increasing market competition. Flexible labour practices are

The empirical study of norms of justice - an overview

OpenAIRE

Jacquemain, Marc

2003-01-01

The paper discusses what is empirical study of justice feeling, drawing the line between this and normative study, but defending nevertheless that there are important linkis between both stances. It gives an overview of main theories whitin normative study of justice feelings

78 FR 46799 - Use of Market Economy Input Prices in Nonmarket Economy Proceedings

Science.gov (United States)

2013-08-02

...The Department of Commerce (``Department'') is modifying its regulation which states that the Department normally will use the price that a nonmarket economy (``NME'') producer pays to a market economy supplier when a factor of production is purchased from a market economy supplier and paid for in market economy currency, in the calculation of normal value (``NV'') in antidumping proceedings involving NME countries. The rule establishes a requirement that the input at issue be produced in one or more market economy countries, and a revised threshold requiring that ``substantially all'' (i.e., 85 percent) of an input be purchased from one or more market economy suppliers before the Department uses the purchase price paid to value the entire factor of production. The Department is making this change because it finds that a market economy input price is not the best available information for valuing all purchases of that input when market economy purchases of an input do not account for substantially all purchases of the input.

The Study on University Financial Management under Knowledge Economy

Science.gov (United States)

Yongfan, Xu

The coming of knowledge economy creates unprecedented situation of economy development. The trend of education's globalization as well as communication means frequently updated severely hit the system of financial management. Along with the deep going of education industrialization, and development of logistics management socialization, system and content of university financial management are increasingly expending and getting more and more complex that result in new challenge and problems to financial management. In order to step up with university development of internationalization and the logistics development of socialization, the financial management has to reform in response to this new challenge and trend.

The Sharing Economy

OpenAIRE

Reinhold, Stephan; Dolnicar, Sara

2017-01-01

Peer-to-peer accommodation networks in general, and Airbnb in specific, are frequently referred to as part of the sharing economy. This chapter provides an overview of key characteristics of the sharing economy, discusses how these characteristics relate to peer-to-peer accommodation, and positions peer-to-peer accommodation networks within the sharing economy.

Dynamic International Competitiveness of Transition Economies: The Case of Poland

DEFF Research Database (Denmark)

Nielsen, Jørgen Ulff-Møller

2003-01-01

This paper shows that the reform on the structures of the Polish economy has had an impressively fast effect on the numbers of different products this country exports to Western countries. The time path may well be described by a logistic curve. The change in the exports of this country may...... therefore be characterised by a widening, instead of a deepening in specialisation. The paper introduces a new empirical methodology to evaluate the dynamic changes in export activities of a country. The result of this new methodology is that quality competition is becoming increasingly important for Poland...

Estimating the Size and Impact of the Ecological Restoration Economy.

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Todd BenDor

Full Text Available Domestic public debate continues over the economic impacts of environmental regulations that require environmental restoration. This debate has occurred in the absence of broad-scale empirical research on economic output and employment resulting from environmental restoration, restoration-related conservation, and mitigation actions - the activities that are part of what we term the "restoration economy." In this article, we provide a high-level accounting of the size and scope of the restoration economy in terms of employment, value added, and overall economic output on a national scale. We conducted a national survey of businesses that participate in restoration work in order to estimate the total sales and number of jobs directly associated with the restoration economy, and to provide a profile of this nascent sector in terms of type of restoration work, industrial classification, workforce needs, and growth potential. We use survey results as inputs into a national input-output model (IMPLAN 3.1 in order to estimate the indirect and induced economic impacts of restoration activities. Based on this analysis we conclude that the domestic ecological restoration sector directly employs ~ 126,000 workers and generates ~ $9.5 billion in economic output (sales annually. This activity supports an additional 95,000 jobs and $15 billion in economic output through indirect (business-to-business linkages and increased household spending.

Green Economy Performance and Green Productivity Growth in China’s Cities: Measures and Policy Implication

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Jianglong Li

2016-09-01

Full Text Available Resource depletion and environmental degradation have become serious challenges for China’s sustainable development. This paper constructs indicators to assess China’s green economy performance and green productivity growth, in which economic expansion, resource conservation and environmental protection need to be incorporated simultaneously. For this purpose, we combine non-radial directional distance function and meta-frontier Malmquist productivity to develop the indicators. The methodology also allows for the decomposition of driving forces of China’s green economy. Moreover, the dataset employed in this paper allows for the evaluation of 275 cities in China during the period 2003–2012. The main findings are as follows. First, most of China’s cities did not perform efficiently in terms of the green economy, with an average score of only 0.233. Second, the growth rate of green productivity is slower than real GDP, and the green productivity growth in China is only moderate. Third, innovation is the main driving force of China’s green productivity growth, but the central region lags behind when it comes to green innovation. Fourth, artificial local protectionism and transport limitations impede the progress of cities that perform ineffectively in the green economy. Based on our empirical findings, we provide policy implications and suggestions for enhancing China’s green economy performance and productivity growth.

Financial development and energy consumption in Central and Eastern European frontier economies

Energy Technology Data Exchange (ETDEWEB)

Sadorsky, Perry [Schulich School of Business, York University, 4700 Keele Street, Toronto, Ontario (Canada)

2011-02-15

This study examines the impact of financial development on energy consumption in a sample of 9 Central and Eastern European frontier economies. Several different measures of financial development are examined including bank related variables and stock market variables. The empirical results, obtained from dynamic panel demand models, show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using banking variables like deposit money bank assets to GDP, financial system deposits to GDP, or liquid liabilities to GDP. Of the three stock market variables investigated, only one, stock market turnover, has a positive and statistically significant impact on energy consumption. Both short-run and long-run elasticities are presented. The implications of these results for energy policy are discussed. (author)

Shadow Economy and Poverty

OpenAIRE

Nikopour, Hesam; Shah Habibullah, Muzafar

2010-01-01

This study attempts to investigate the relationship between shadow economy and poverty by explaining the mechanism through which shadow economy affects poverty via its impact on government size and economic growth, and using the human poverty index (HPI) for developing and developed countries. In order to achieve this objective, the three-way interaction model is utilized using data of 139 developing and 23 developed countries separately during 1999-2007. For developing countries the dynamic ...

Perspectives on Eco Economics. Circular Economy and Smart Economy

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Cristina Balaceanu

2017-12-01

Full Text Available The implementation of sustainable development principles in contemporary economic thinking has generated the conceptual remodeling that expresses the new mechanisms of the economy. Thus, the concept of circular economy meet the theoretical representation of an economic system oriented towards the re-use of waste as raw materials and limiting the production of waste that cannot come back into the economic circuit. Circular economy is one that involves even its concept of operation, recovery and regeneration, as much as possible of resources, aiming to preserve, at the highest level, the value and usefulness of products, components and raw materials, distinguishing between technical and biological cycles. In this way, we can find solutions for two major issues affecting today's economy: the limited nature of resources and the pollution generated by the waste resulting from economic activities.

Economy and Grace

DEFF Research Database (Denmark)

Pedersen, Else Marie Wiberg

2015-01-01

Luther develops his idea the grace of God in tandem with his idea of economy, and a society characterized by ethical and social values such as love of neighbour and caring for the poor. Hence, the reformer's search for a gracious God is developed along with his criticism of the current indulgence...... doctrine and the emerging 'oeconomia moderna'. Thus, building on a simul gratia et oeconomia, grace and economy simultaneously, Luther's reformation theology can be perceived as te intersection of an economy of grace and a horizontal social economy (works of love) in quotidian life that together constitute...

It's the rents, stupid! The political economy of the resource curse

International Nuclear Information System (INIS)

Kolstad, Ivar; Wiig, Arne

2009-01-01

A number of studies suggest that natural resources can have a negative impact on the developing prospects of countries. Empirical results suggest that political economy models of patronage and rent-seeking are central to understanding why such a resource curse arises. In other words, the resource curse is created by certain resource rents leading to dysfunctional behaviour. This article introduces the term impartiality enhancing institutions to structure policy debates by distinguishing conditions under which negative effects of resources can be mitigated. Moreover, it is argued that viewing institutions as an equilibrium outcome has implications for the analysis of institutional change. Policy initiatives that do not promote the impartiality of institutions, nor attend to the underlying interests and incentives keeping a bad institutional equilibrium in place, will not help lift the resource curse.

Empirical study of supervised gene screening

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Ma Shuangge

2006-12-01

Full Text Available Abstract Background Microarray studies provide a way of linking variations of phenotypes with their genetic causations. Constructing predictive models using high dimensional microarray measurements usually consists of three steps: (1 unsupervised gene screening; (2 supervised gene screening; and (3 statistical model building. Supervised gene screening based on marginal gene ranking is commonly used to reduce the number of genes in the model building. Various simple statistics, such as t-statistic or signal to noise ratio, have been used to rank genes in the supervised screening. Despite of its extensive usage, statistical study of supervised gene screening remains scarce. Our study is partly motivated by the differences in gene discovery results caused by using different supervised gene screening methods. Results We investigate concordance and reproducibility of supervised gene screening based on eight commonly used marginal statistics. Concordance is assessed by the relative fractions of overlaps between top ranked genes screened using different marginal statistics. We propose a Bootstrap Reproducibility Index, which measures reproducibility of individual genes under the supervised screening. Empirical studies are based on four public microarray data. We consider the cases where the top 20%, 40% and 60% genes are screened. Conclusion From a gene discovery point of view, the effect of supervised gene screening based on different marginal statistics cannot be ignored. Empirical studies show that (1 genes passed different supervised screenings may be considerably different; (2 concordance may vary, depending on the underlying data structure and percentage of selected genes; (3 evaluated with the Bootstrap Reproducibility Index, genes passed supervised screenings are only moderately reproducible; and (4 concordance cannot be improved by supervised screening based on reproducibility.

Bio economy and entrepreneurial ecosystem patterns Case study for Romania - USH ProBusiness

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Costin Lianu

2017-03-01

Full Text Available This paper is investigating various patterns of entrepreneurial relations and engagements  that may help the shift to bio economy  and the ways they can facilitate entrepreneurial understanding and access to markets and business opportunities in this field. It also investigate the role of universities and cluster in transfer of knowledge towards bio economy and possibilities of interaction making a case study on USH ProBusiness in Romania. Main conclusion of the paper is that participation of  entrepreneurs, especially SME but also large companies in active  Entrepreneurial Ecosystems (EE   plays an essential role in transposing bio economy  from strategy to action but some regions may be well advanced  and other lagging behind. High trust and large EE in terms of networking are better fit to accelerate the knowledge and innovation process and universities may play a major role in this direction, as important catalyst.

Modeling of similar economies

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Sergey B. Kuznetsov

2017-06-01

Full Text Available Objective to obtain dimensionless criteria ndash economic indices characterizing the national economy and not depending on its size. Methods mathematical modeling theory of dimensions processing statistical data. Results basing on differential equations describing the national economy with the account of economical environment resistance two dimensionless criteria are obtained which allow to compare economies regardless of their sizes. With the theory of dimensions we show that the obtained indices are not accidental. We demonstrate the implementation of the obtained dimensionless criteria for the analysis of behavior of certain countriesrsquo economies. Scientific novelty the dimensionless criteria are obtained ndash economic indices which allow to compare economies regardless of their sizes and to analyze the dynamic changes in the economies with time. nbsp Practical significance the obtained results can be used for dynamic and comparative analysis of different countriesrsquo economies regardless of their sizes.

Study on modeling of Energy-Economy-Environment system

Energy Technology Data Exchange (ETDEWEB)

Kang, Seung Jin [Korea Energy Economics Institute, Euiwang (Korea)

1999-07-01

This study analyzed the effect of carbon dioxide reduction policy generated by energy use by developing a new operation general equilibrium model. This model is a multi sector successive dynamic model, designed to be able to forecast economic variables as well as GDP, energy consumption, and carbon dioxide emission amount until 2030 for every 5 years. Using this model, it analyzed three greenhouse gas reduction policy scenarios, the introduction of world single carbon tax, the setting up limit of greenhouse gas discharge, and the introduction of international discharge permit trading system. It analyzes that it gives a heavy burden to Korean economy when Korean government implements the greenhouse gas reduction policy with only domestic policy instrument. Therefore it is considered that it is required to reduce greenhouse gas cost-effectively by using Kyoto Protocol actively, such as international permit trading, co-implementation, and clean development system, when greenhouse gas reduction gives a heavy burden. Moreover, a policy that is dependent only on price mechanism, such as carbon tax or permit trading, to reduce greenhouse gas requires a very high cost and has a limitation. Therefore, to relieve some burden on economy requires to implement non-price mechanism simultaneously such as energy technology development and restructuring on industry and transportation system. (author). 70 refs., 11 figs., 34 tabs.

A generalized preferential attachment model for business firms growth rates. I. Empirical evidence

Science.gov (United States)

Pammolli, F.; Fu, D.; Buldyrev, S. V.; Riccaboni, M.; Matia, K.; Yamasaki, K.; Stanley, H. E.

2007-05-01

We introduce a model of proportional growth to explain the distribution P(g) of business firm growth rates. The model predicts that P(g) is Laplace in the central part and depicts an asymptotic power-law behavior in the tails with an exponent ζ = 3. Because of data limitations, previous studies in this field have been focusing exclusively on the Laplace shape of the body of the distribution. We test the model at different levels of aggregation in the economy, from products, to firms, to countries, and we find that the predictions are in good agreement with empirical evidence on both growth distributions and size-variance relationships.

An empirical and model study on automobile market in Taiwan

Science.gov (United States)

Tang, Ji-Ying; Qiu, Rong; Zhou, Yueping; He, Da-Ren

2006-03-01

We have done an empirical investigation on automobile market in Taiwan including the development of the possession rate of the companies in the market from 1979 to 2003, the development of the largest possession rate, and so on. A dynamic model for describing the competition between the companies is suggested based on the empirical study. In the model each company is given a long-term competition factor (such as technology, capital and scale) and a short-term competition factor (such as management, service and advertisement). Then the companies play games in order to obtain more possession rate in the market under certain rules. Numerical simulation based on the model display a competition developing process, which qualitatively and quantitatively agree with our empirical investigation results.

www.FuelEconomy.gov

Data.gov (United States)

U.S. Environmental Protection Agency — FuelEconomy.gov provides comprehensive information about vehicles' fuel economy. The official U.S. government site for fuel economy information, it is operated by...

Economic impact on the Florida economy of energy price spikes

International Nuclear Information System (INIS)

Mory, J.F.

1992-01-01

A substantial disturbance in oil supplies is likely to generate a large price upsurge and a downturn in the level of economic activity. Each of these two effects diminishes demand by a certain amount. The specific price surge required to reduce demand to the lower level of supply can be calculated with an oil demand function and with empirical estimations of the association between price spikes and declines in economic activity. The first section presents an energy demand model for Florida, which provides the price and income elasticities needed. The second section includes theoretical explanations and empirical estimations of the relationship between price spikes and recessions. Based on historical evidence, it seems that Florida's and the nation's economic systems are very sensitive to oil price surges. As price spikes appear damaging to the economy, it could be expected that reductions in the price of oil are beneficial to the system. That is likely to be the case in the long run, but no empirical evidence of favorable short-term effects of oil price decreases was found. Several possible explanations and theoretical reasons are offered to explain this lack of association. The final section presents estimates of the effect of oil disruptions upon specific industries in Florida and the nation

Effect of Body Composition on Walking Economy

Directory of Open Access Journals (Sweden)

Maciejczyk Marcin

2016-12-01

Full Text Available Purpose. The aim of the study was to evaluate walking economy and physiological responses at two walking speeds in males with similar absolute body mass but different body composition. Methods. The study involved 22 young men with similar absolute body mass, BMI, aerobic performance, calf and thigh circumference. The participants differed in body composition: body fat (HBF group and lean body mass (HLBM group. In the graded test, maximal oxygen uptake (VO2max and maximal heart rate were measured. Walking economy was evaluated during two walks performed at two different speeds (4.8 and 6.0 km ‧ h-1. Results. The VO2max was similar in both groups, as were the physiological responses during slow walking. The absolute oxygen uptake or oxygen uptake relative to body mass did not significantly differentiate the studied groups. The only indicator significantly differentiating the two groups was oxygen uptake relative to LBM. Conclusions. Body composition does not significantly affect walking economy at low speed, while during brisk walking, the economy is better in the HLBM vs. HBF group, provided that walking economy is presented as oxygen uptake relative to LBM. For this reason, we recommend this manner of oxygen uptake normalization in the evaluation of walking economy.

Natural Gas Consumption of Emerging Economies in the Industrialization Process

Directory of Open Access Journals (Sweden)

Jian Chai

2016-10-01

Full Text Available Natural gas has become more and more important in the world energy market with the change of energy consumption structure and consumption subjects. This paper applies the panel smooth transition regression (PSTR model to study the nonlinear relationship between natural gas consumption and economic variables of emerging economies, and the empirical results show that: (1 There is a non-linear relationship among natural gas consumption, GDP per capita, industrialization and urbanization rate; (2 The optimal PSTR model is a two-regime model by using the lagged industrialization as a transition variable, and the impact of GDP per capita and of industrialization on natural gas consumption shows incomplete symmetry in low and high regime, respectively; (3 The result of time-varying elasticity analysis indicates that natural gas consumption is inelastic to GDP per capita, but elastic to both industrialization and urbanization. The elasticity of GDP per capita generally decrease with fluctuation, the elasticity of industrialization tends to rise, and the elasticity of urbanization is linear at high level; (4 Regional difference shows that there are 10 emerging economies are in first regime (below industrialization of 43.2%, and the remaining 6 are in second regime. This provides reference for countries in different transformation periods to make economic policies adapting to energy saving, energy structure optimization and other sustainable development strategies.

Teaching empirical finance courses: A project on portfolio management

Directory of Open Access Journals (Sweden)

Bruce Morley

2016-12-01

Full Text Available The aim of this article was to assess the use of a group-based project for an empirical finance type of course. It examines the outline of the project, the methodology the students are encouraged to follow and how the course is assessed. This approach enables the students to apply many of the techniques learnt on this course and other courses such as econometrics, to determine an optimal portfolio of assets given their view on the risks in the economy. The emphasis is on risk management through portfolio diversification and the use of a simple hedge strategy. The overall aim was to introduce the students to the basics of portfolio management, as many work in this industry for their industrial placements and when they graduate. The main contribution to the literature is through the analysis of an empirically based portfolio management project. The feedback from the students suggests they felt that they had learnt useful concepts and information, in an enjoyable exercise.

A critical revision of the empirical literature on Chinese outward investment: A new proposal

Directory of Open Access Journals (Sweden)

Rodríguez Carlos

2011-01-01

Full Text Available Research on China’s role in the globalization of economic activity focuses mainly on its involvement in trade and on its competitiveness as a manufacturing location for foreign investors. However, since the mid-1990s China’s outward foreign direct investment (OFDI has become an important part of its integration into the global economy. This dimension is poorly understood, and few empirical studies about the drivers behind Chinese OFDI have been published thus far. After reviewing critically the empirical literature, which provides ambiguous results about the explanatory power of some of the large list of determinants put forward, we aim to provide a more accurate description of the motives behind Chinese OFDI. Using a panel data approach for the period 1995 to 2009 and for a large host country sample, we identify some key drivers. We find that host market size, natural resources and FDI openness are of paramount relevance. However, the asset seeking hypothesis is not confirmed.

Impact of Foreign Direct Investments on Unemployment in Emerging Market Economies: A Co-integration Analysis

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Yilmaz Bayar

2017-09-01

Full Text Available Purpose: The goal of the paper is to investigate the long run effect of both foreign direct investments and domestic investments on the unemployment in 21 emerging economies over the period 1994-2014. Design/methodology/approach: The effect of domestic and foreign direct investments on unemployment was investigated via panel data analysis. First tests of cross-section dependence and homogeneity were conducted, and then the stationarity of the series was analyzed with Pesaran's (2007 CIPS unit root test. The long run relationship among the series was examined with Westerlund-Durbin-Hausman's (2008 co -integration test. Finally, we estimated the long run coefficients with the Augmented Mean Group (AMG estimator. Findings: The empirical findings revealed a co-integrating relationship among domestic investments, foreign direct investments, and unemployment. Furthermore, foreign direct investment inflows affected the unemployment positively in the long term, but domestic investments affected the unemployment negatively. Originality/value: This study can be considered as one of the early studies researching the long run interaction between domestic investments, foreign direct investments and unemployment for the sample of emerging market economies. Furthermore, the findings are very meaningful for policymakers in the design the economic policies for decreasing unemployment.

Inefficient equilibria in transition economy

Directory of Open Access Journals (Sweden)

Sergei Guriev

1999-01-01

Full Text Available The paper studies a general equilibrium in an economy where all market participants face a bid-ask spread. The spread may be caused by indirect business taxes, middlemen rent-seeking, delays in payments or liquidity constraints or price uncertainty. Wherever it comes from the spread causes inefficiency of the market equilibrium. We discuss some institutions that can decrease the inefficiency. One is second currency (barter exchange in the inter-firm transactions. It is shown that the general equilibrium in an economy with second currency is effective though is still different from Arrow–Debreu equilibrium. Another solution can be introduction of mutual trade credit. In the economy with trade credit there are multiple equilibria that are more efficient than original bid-ask spread but still not as efficient as Arrow–Debreu one, too. The implications for firms' integration and applicability to Russian economy are discussed.

Political economies and environmental futures for the sharing economy

NARCIS (Netherlands)

Frenken, Koen|info:eu-repo/dai/nl/207145253

2017-01-01

The sudden rise of the sharing economy has sparked an intense public debate about its definition, its effects and its future regulation. Here, I attempt to provide analytical guidance by defining the sharing economy as the practice that consumers grant each other temporary access to their

Collateral fluctuations in a monetary economy

NARCIS (Netherlands)

Ferraris, L.; Watanabe, M.

2011-01-01

This paper studies economy-wide fluctuations that occur endogenously in the presence of monetary and real assets. Using a standard monetary search model, we consider an economy in which agents can increase consumption, over and above what their liquid monetary asset holdings would allow, pledging

CONTRIBUTIONS OF “KNOWLEDGE” IN WORLD ECONOMY

Directory of Open Access Journals (Sweden)

Gabriela-Liliana CIOBAN

2016-09-01

Full Text Available The effect of knowledge globally is reflected in the growth / development of national economies and improvement of living standards of the population. Arguments underlying this statement are reflected in the values ​​held by certain indicators (Knowledge Economy Index, Gross Domestic Product, Index of Innovation, Knowledge Intensive Services etc. and their effects on national economies. Factors contributing to the development of these indicators are the "key" to success in each economy and also part of their basic foundation. The explanation so far obliges us to analyze current global economic situation and its prospects. As a first step we will try to answer the question "What is the generator factor of growth / prosperity in different countries?" and to identify its evolution over time. A second stage of the study will represent an analysis in the architecture centers of power due to the competitive advantage held by certain countries / companies in creating wealth. The study is based upon emergence and strengthening of competitiveness in the businesses and the national economy. Knowledge-intensive services’ presence in the world's economies is a vital source of economic growth.

Introduction Of Techno-Economy

International Nuclear Information System (INIS)

Park, Woo Hui

2001-08-01

This book gives descriptions of science, technology and techno-economy, invention and science and technology in the Twenty-First century, theory and model of technological innovation, technology and economy technology and industry, technology and business, spread and transfer of technique, technology and international economy, science, technique and culture, science, technology and government, development of technology in Korea and developing countries, and conclusion on the past and the future of techno-economy.

PRECONDITIONS AND DETERMINING CAUSES OF THE SHADOW ECONOMY IN UKRAINE

Directory of Open Access Journals (Sweden)

Z. Varnalii

2014-03-01

Full Text Available The article analyzes the main processes that led to the high level of the economy shadowing. The historical aspects of the formation of the shadow economy in Ukraine are highlighted. The socio-economic aspects of the shadow economy of Ukraine causality are discussed. The theoretical contribution of foreign and domestic researchers on the preconditions of formation of the shadow economy in transition economies is studied. Theoretical perspective on the factors of the shadowing processes in the economy of Ukraine from the standpoint of modern scientific researches is analyzed. The paper also provides scientific vectors for further development of researches aimed at studying the causes and preconditions of the shadow economy.

Economy of scale still holds true

International Nuclear Information System (INIS)

Anon.

1985-01-01

The economic merits of larger generating units have been questioned and have become subject to doubt and controversy. A 1980 study by Sargent and Lundy concluded that economy of scale still held. But some of the basic factors and major assumptions used in that study have changed. An update of those results, which also looks at whether reduced load growth rates affect the study's conclusions, finds economy of scale still applies

Product Innovations in Emerging Economies

DEFF Research Database (Denmark)

Xiao, Xiao; Sarker, Saonee; Rai, Sudhanshu

2011-01-01

, such as countries that are not considered “developed.” This study aims at examining how firms innovate in emerging economies. Specifically, we focus on the role of collaborative capacity in product innovations. Primary data collected from an ICT project in India has been used to test the relevant hypotheses......Studies on enterprise innovations have established the relationships between a number of determinants and enterprise innovativeness. However, such studies in general have been conducted in developed economies. Recent literature has called for broadening innovation-related research to other contexts...

The role of coal in the economy of the Czech Republic

Energy Technology Data Exchange (ETDEWEB)

Doruska, J. [Ministry of Industry and Trade of the Czech, Republic, Prague (Czechoslovakia)

1995-12-01

The Czech Republic ranks among the countries with high total reserves of hard coal and lignite. Therefore coal always had and still has a significant role in covering the power demand of the Czech Republic. Transition of the national economy, based on the principles of the market economy and private ownership, affects among others also behavior of the mining companies. A strong emphasis is also aimed at the environmental aspects concerning both the process of coal mining and the process of its utilization. Within these intentions the power policy of the Czech Republic is formulated. The Czech Republic, which has 10 mil. inhabitants, ranks among the countries with a high share of industry in the process of creating the gross national product. This state has its historical roots as on the present territory of the Czech Republic there had been concentrated a majority of industrial and mining capacities of the Hapsburg Empire. The First World War resulted among others in the decline of the Hapsburg Empire. Within this process Czechoslovak Republic was established (apart from other things the center of democracy in the Central Europe). In that republic the industry had an important position. The industrial potential had been expanded even during the occupation of Czechoslovakia by Nazi Germany in the years 1939 - 1945. After the Second World War when Europe was divided into two political spheres Czechoslovakia became a significant industrial base of so called East Bloc. Such a development and the needs of the Eastern Bloc resulted in the intensive development of the heavy industry on the territory of Czechoslovakia.

RECIPROCITY IN THE ECONOMY OF THE AGE OF SILICON ECONOMY SYSTEMS TO EARLY EXPERIENCES CURRENT SOLIDARITY ECONOMY

Directory of Open Access Journals (Sweden)

Horacio, Simes

2012-01-01

Full Text Available Reciprocity is an integrating principle of supportive economy activities. In non-capitalist societies, it has been realized through the participation of certain institutional arrangements that favored the stability of exchange relations. Progress towards capitalist societies and deepening them, dissolved many of these institutional supports, while economy relations separated from other social relations in which it was first inserted. In addition, the selfish individual was become an active participant in the economy life of society. With the construction of market economies and state regulation, reciprocal relationships were being reduced to a lower field activities. Under these circumstances, they should investigate how reciprocity is manifested today, the institutional arrangements that are suitable to give stability and unity to cooperative behavior and the dynamics of their relationship to the context of the market and the state.

The NNP and Sustainability in Open Economy: Highlights on Recent World Economy and on Open Economy of Bangladesh

OpenAIRE

Mohajan, Haradhan

2011-01-01

This paper discusses the theory of the net national product and, emphasizes on social welfare and sustainable accounting in open economy. It is observed that the world economy following an egalitarian path, the aggregate capital gains being positive is equivalent to the interest rate tending to decrease. This is important for the concept of net national product in open economies. Martin Weitzman gives a foundation for net national product as the stationary equivalent of a wealth maximizing pa...

The industrial dynamics of the new digital economy

DEFF Research Database (Denmark)

Frøslev Christensen, Jens; Maskell, Peter

This work investigates the implications of digital technologies on the industrial and business dynamics of modern economies. In-depth studies analyse how deep-rooted work practices of the Old Economy have been dramatically challenged when confronted with the entrepreneurial wave of the New Economy...... channels of interaction with old partners must be reconfigured and familiar divisions of labour rethought. This book presents novel and detailed data showing how vast and still dominant industries of the Old Economy have responded to the new challenges and exploited the emerging opportunities...... those interested in technology, innovation and the New Economy....

Can agricultural groundwater economies collapse? An inquiry into the pathways of four groundwater economies under threat

Science.gov (United States)

Petit, Olivier; Kuper, Marcel; López-Gunn, Elena; Rinaudo, Jean-Daniel; Daoudi, Ali; Lejars, Caroline

2017-09-01

The aim of this paper is to investigate the notion of collapse of agricultural groundwater economies using the adaptive-cycle analytical framework. This framework was applied to four case studies in southern Europe and North Africa to question and discuss the dynamics of agricultural groundwater economies. In two case studies (Saiss in Morocco and Clain basin in France), the imminent physical or socio-economic collapse was a major concern for stakeholders and the early signs of collapse led to re-organization of the groundwater economy. In the other two cases (Biskra in Algeria and Almeria in Spain), collapse was either not yet a concern or had been temporarily resolved through increased efficiency and access to additional water resources. This comparative analysis shows the importance of taking the early signs of collapse into account. These signs can be either related to resource depletion or to environmental and socio-economic impacts. Beyond these four case studies, the large number of groundwater economies under threat in (semi-)arid areas should present a warning regarding their possible collapse. Collapse can have severe and irreversible consequences in some cases, but it can also mean new opportunities and changes.

Bike Sharing and the Economy, the Environment, and Health-Related Externalities

Directory of Open Access Journals (Sweden)

Lu-Yi Qiu

2018-04-01

Full Text Available In recent years, bike-sharing has experienced rapid development; however, controversies about the externalities of bike-sharing programs have arisen as well. While bike-sharing programs have impacts on traffic, the environment, and public health, the social impacts, the management, and sustainable development of bike-sharing has also been of interest. The debate regards whether there are externalities, as well as whether and how such externalities can be determined. Based on the rapidly diffused bike-sharing in China, this paper quantitatively explores bike-sharing externalities. Specifically, this paper estimates the impacts of bike-sharing on the economy, energy use, the environment, and public health. The empirical results show that bike-sharing programs have significant positive externalities. The bike-sharing systems can provide urban residents with a convenient and time-saving travel mode. We find that the bike-sharing dramatically decreases traffic, reduces energy consumption, decreasing harmful gas emissions, improves public health generally, and promotes economic growth. This study contributes to a better comprehension of the externalities of bike-sharing and provides empirical evidence of the impacts of bike-sharing. Findings suggest that bike-sharing can play a critical role in the process of urban transportation development and provide information useful for urban transportation policies.

Localization in random bipartite graphs: Numerical and empirical study

Science.gov (United States)

Slanina, František

2017-05-01

We investigate adjacency matrices of bipartite graphs with a power-law degree distribution. Motivation for this study is twofold: first, vibrational states in granular matter and jammed sphere packings; second, graphs encoding social interaction, especially electronic commerce. We establish the position of the mobility edge and show that it strongly depends on the power in the degree distribution and on the ratio of the sizes of the two parts of the bipartite graph. At the jamming threshold, where the two parts have the same size, localization vanishes. We found that the multifractal spectrum is nontrivial in the delocalized phase, but still near the mobility edge. We also study an empirical bipartite graph, namely, the Amazon reviewer-item network. We found that in this specific graph the mobility edge disappears, and we draw a conclusion from this fact regarding earlier empirical studies of the Amazon network.

The Hare and the Tortoise. How Older Generations Are Replaced By Young One on the Labour Market: Signals and Insights from the Relationship between Shadow Economy and Active Ageing

Directory of Open Access Journals (Sweden)

Adriana AnaMaria DAVIDESCU

2015-06-01

Full Text Available The paper aims to analyze the relationship between the size of Romanian shadow economy expressed as % of official GDP and active ageing in order to see if the shadow economy represents a social buffer for active ageing phenomena using Granger causality analysis. The size of Romanian shadow economy is estimated previously using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL approach to cointegration analysis. Using Granger causality tests, we examine the relationship between employment rate for older people and the size of Romanian shadow economy covering the period between 2000 and 2010. The empirical results revealed the existence of a long-run unidirectional causality that runs shadow economy to employment rate for elderly and do not support the existence of any short-run relationship between employment rate for older people and shadow economy.

A fair green economy? Studies of agriculture, energy and waste initiatives in Malaysia

OpenAIRE

Hezri, Adnan; Ghazali, Rospidah

2011-01-01

This paper proposes that a green economy needs also to be a fair economy. Following broader global trends, in 2009 the Malaysian government established the basic architecture for green economy by incorporating a green technology portfolio into the newly established Ministry of Energy, Green Technology and Water. This was followed by a suite of interventionist policy instruments. However, Malaysia's approach raises the question whether the full range of social, economic and environmental goals...

Knowledge Based Economy Assessment

OpenAIRE

Madalina Cristina Tocan

2012-01-01

The importance of knowledge-based economy (KBE) in the XXI century is evident. In the article the reflection of knowledge on economy is analyzed. The main point is targeted to the analysis of characteristics of knowledge expression in economy and to the construction of structure of KBE expression. This allows understanding the mechanism of functioning of knowledge economy. The authors highlight the possibility to assess the penetration level of KBE which could manifest itself trough the exist...

Growing a market economy

Energy Technology Data Exchange (ETDEWEB)

Basu, N.; Pryor, R.J.

1997-09-01

This report presents a microsimulation model of a transition economy. Transition is defined as the process of moving from a state-enterprise economy to a market economy. The emphasis is on growing a market economy starting from basic microprinciples. The model described in this report extends and modifies the capabilities of Aspen, a new agent-based model that is being developed at Sandia National Laboratories on a massively parallel Paragon computer. Aspen is significantly different from traditional models of the economy. Aspen`s emphasis on disequilibrium growth paths, its analysis based on evolution and emergent behavior rather than on a mechanistic view of society, and its use of learning algorithms to simulate the behavior of some agents rather than an assumption of perfect rationality make this model well-suited for analyzing economic variables of interest from transition economies. Preliminary results from several runs of the model are included.

From war economies to peace economies in Africa | Broodryk ...

African Journals Online (AJOL)

One reason for the persistence and protracted nature of conflict on the. African continent is the phenomenon of war economies. These have transformed the nature of war itself where the object is not at neutralizing an enemy but to institutionalize violence at a profitable level of intensity. Transforming war economies into ...

Resource Complementarity and IT Economies of Scale

DEFF Research Database (Denmark)

Woudstra, Ulco; Berghout, Egon; Tan, Chee-Wee

2017-01-01

In this study, we explore economies of scale for IT infrastructure and application services. An in-depth appreciation of economies of scale is imperative for an adequate understanding of the impact of IT investments. Our findings indicate that even low IT spending organizations can make...... a difference by devoting at least 60% of their total IT budget on IT infrastructure in order to foster economies of scale and extract strategic benefits....

The Collaborative Economy

DEFF Research Database (Denmark)

Avital, Michel; Andersson, Magnus; Nickerson, Jeffrey

2014-01-01

An economy based on the exchange of capital, assets and services between individuals has grown significantly, spurred by proliferation of internet-based platforms that allow people to share underutilized resources and trade with reasonably low transaction costs. The movement toward this economy...... of “sharing” translates into market efficiencies that bear new products, reframe established services, have positive environmental effects, and may generate overall economic growth. This emerging paradigm, entitled the collaborative economy, is disruptive to the conventional company-driven economic paradigm...... as evidenced by the large number of peer-to-peer based services that have captured impressive market shares sectors ranging from transportation and hospitality to banking and risk capital. The panel explores economic, social, and technological implications of the collaborative economy, how digital technologies...

Atatürk'ün Ekonomik Reformları ve Türkiye Ekonomisine Etkileri (1923-2002 = Economic Reforms of Ataturk and Their Effects on Turkish Economy (1923-2002

Directory of Open Access Journals (Sweden)

Esat ÇELEBİ

2002-01-01

Full Text Available At the end of I. World War, the economy of the Ottoman Empire was at the point of bankruptcy, just as were her educational and social institutes From the very first day of new Turkish Republic, Mustafa Kemal Atatürk, founder of the Turkish Republic launched new economical reforms, along with reshaping the social and educational institutes. The present study focuses in detail on the cited reforms. Moreover, Atatürk's new economical models, and strategies were also presented. Some important economical figures for the years from 1923 to 1938 along with their impact on the Turkish economy for the years 1938-2002, are also given. To comprehand and appreciate the meaning and importance of economical reforms to the country and people, todays, general economical picture, supported with some important data, are presented, emphasising the most recent bottlenecks of the Turkish economy.

Connecting theoretical and empirical studies of trait-mediated interactions

Czech Academy of Sciences Publication Activity Database

Bolker, B.; Holyoak, M.; Křivan, Vlastimil; Rowe, L.; Schmitz, O.

2003-01-01

Roč. 84, č. 5 (2003), s. 1101-1114 ISSN 0012-9658 Institutional research plan: CEZ:AV0Z5007907 Keywords : community models * competition * empirical study Subject RIV: EH - Ecology, Behaviour Impact factor: 3.701, year: 2003

Political economies and environmental futures for the sharing economy

Science.gov (United States)

Frenken, Koen

2017-05-01

The sudden rise of the sharing economy has sparked an intense public debate about its definition, its effects and its future regulation. Here, I attempt to provide analytical guidance by defining the sharing economy as the practice that consumers grant each other temporary access to their under-utilized physical assets. Using this definition, the rise of the sharing economy can be understood as occurring at the intersection of three salient economic trends: peer-to-peer exchange, access over ownership and circular business models. I shortly discuss some of the environmental impacts of online sharing platforms and then articulate three possible futures of the sharing economy: a capitalist future cumulating in monopolistic super-platforms allowing for seamless services, a state-led future that shifts taxation from labour to capital and redistributes the gains of sharing from winners to losers, and a citizen-led future based on cooperatively owned platforms under democratic control. The nature and size of the social and environmental impacts are expected to differ greatly in each of the three scenarios. This article is part of the themed issue 'Material demand reduction'.

An overview of the circular economy among SMEs in the Basque country: A multiple case study

Energy Technology Data Exchange (ETDEWEB)

Ormazabal, M.; Prieto-Sandoval, V.; Jaca, C.; Santos, J.

2016-07-01

Purpose: This research analyzes the maturity of environmental management as well as the degree of to which the Circular Economy has been implemented in Basque SMEs. Design/methodology/approach: A total of 17 case studies were carried out in industrial SMEs companies in the Basque Country. Findings: The main results show that companies are limited to complying with the law and in many cases are worried about the image of the company, although they are not committed to environmental issues. There is still a lot to do in SMEs, as they are the companies that face the biggest challenges due to a lack of resources. Originality/value: Circular Economy aims to change a linear economy into promoting sustainability of the economy while also engaging in sustainable environmental protection. This research has focused on small and medium enterprises as they represent a 99% of companies in Europe and they are the ones that have the most difficulty reaching a stage of environmental excellence due to their limited resources.

An overview of the circular economy among SMEs in the Basque country: A multiple case study

International Nuclear Information System (INIS)

Ormazabal, M.; Prieto-Sandoval, V.; Jaca, C.; Santos, J.

2016-01-01

Purpose: This research analyzes the maturity of environmental management as well as the degree of to which the Circular Economy has been implemented in Basque SMEs. Design/methodology/approach: A total of 17 case studies were carried out in industrial SMEs companies in the Basque Country. Findings: The main results show that companies are limited to complying with the law and in many cases are worried about the image of the company, although they are not committed to environmental issues. There is still a lot to do in SMEs, as they are the companies that face the biggest challenges due to a lack of resources. Originality/value: Circular Economy aims to change a linear economy into promoting sustainability of the economy while also engaging in sustainable environmental protection. This research has focused on small and medium enterprises as they represent a 99% of companies in Europe and they are the ones that have the most difficulty reaching a stage of environmental excellence due to their limited resources.

Empirical Studies on Legitimation Strategies: A Case for International Business Research Extension

DEFF Research Database (Denmark)

Turcan, Romeo V.; Marinova, Svetla Trifonova; Rana, Mohammad Bakhtiar

2012-01-01

The paper focuses on legitimation and legitimation strategies applied by companies. Following the process of systematic review, we analyze empirical studies exploring legitimation and legitimation strategies from different theoretical perspectives. Using the key findings by reconnoitering and com...... and comparing the theoretical background, approaches, methodologies, and findings of these empirical studies, we outline potential directions for research in the legitimation strategies of firms engaged in international business operations....

THE STUDY ON BALI TOURISM VILLAGE MANAGEMENT TOWARDS FOUR DIMENSIONS OF EXPERIENCE ECONOMY

Directory of Open Access Journals (Sweden)

Widi Hardini

2016-03-01

Full Text Available Tourism as one of the largest industries in the world economy is now entering a new era, the experience economy. The concept adopted by Pine and Gilmore in 1998, where there was a shift in the company’s economic orientation. This concept emphasizes the customer value and suitable in services industry, especially in Tourism industry. In the new economic era, customer satisfaction is no longer the main things, but delivering comprehensive services to create a memorable experience. Bali tourism industry focuses on cultural development and preservations. There is a linkage between the experience economy concept and tourism village concept, which is at the participation level of all components in the development (management, tourists and the society. Therefore, the concept of experience economy is suitable to be applied in the development of tourism villages. This research conducted to elaborate and analyze the classification of tourism village product and the levels of tourist participation towards four dimensions of experience economy concept. Through qualitative research methods will generate a depth understanding of managing tourism village by creating tourist memorable experience.

Theoretical Semi-Empirical AM1 studies of Schiff Bases

International Nuclear Information System (INIS)

Arora, K.; Burman, K.

2005-01-01

The present communication reports the theoretical semi-empirical studies of schiff bases of 2-amino pyridine along with their comparison with their parent compounds. Theoretical studies reveal that it is the azomethine group, in the schiff bases under study, that acts as site for coordination to metals as it is reported by many coordination chemists. (author)

Visual Design Principles: An Empirical Study of Design Lore

Science.gov (United States)

Kimball, Miles A.

2013-01-01

Many books, designers, and design educators talk about visual design principles such as balance, contrast, and alignment, but with little consistency. This study uses empirical methods to explore the lore surrounding design principles. The study took the form of two stages: a quantitative literature review to determine what design principles are…

The collaborative Economy and Tourism

DEFF Research Database (Denmark)

Dredge, Dianne; Gyimóthy, Szilvia

2015-01-01

House swapping, ridesharing, voluntourism, couchsurfing, dinner hosting and similar innovations epitomize the collaborative economy. The rise of the collaborative economy, also known as collaborative consumption, the sharing economy and peer-to-peer consumption, has been fuelled by a range of soc...... for a balanced assessment of such claims. Highlighting these claims allows us to pursue a more reflective research agenda and leads to a more informed, evidence-based assessment of the collaborative economy and tourism.......House swapping, ridesharing, voluntourism, couchsurfing, dinner hosting and similar innovations epitomize the collaborative economy. The rise of the collaborative economy, also known as collaborative consumption, the sharing economy and peer-to-peer consumption, has been fuelled by a range...... experiences; and higher levels of consumer risk-taking balanced against mechanisms such as peer-to-peer feedback designed to engender trust between producers and consumers. This paper explores and critically assesses the collaborative economy and its implications for tourism industrial systems. It achieves...

Risk Aversion and Engagement in the Sharing Economy

Directory of Open Access Journals (Sweden)

Jessica Santana

2015-10-01

Full Text Available The sharing economy is a new online community that has important implications for offline behavior. This study evaluates whether engagement in the sharing economy is associated with an actor’s aversion to risk. Using a web-based survey and a field experiment, we apply an adaptation of Holt and Laury’s (2002 risk lottery game to a representative sample of sharing economy participants. We find that frequency of activity in the sharing economy predicts risk aversion, but only in interaction with satisfaction. While greater satisfaction with sharing economy websites is associated with a decrease in risk aversion, greater frequency of usage is associated with greater risk aversion. This analysis shows the limitations of a static perspective on how risk attitudes relate to participation in the sharing economy.

The Political Economy of International Treaties

NARCIS (Netherlands)

Merkouris, Panagiotis; Fabbricotti, Alberta

2016-01-01

The book, which the present Chapter is a part of, is a ‘call to arms’ for a more systematic and systemic PE- (political economy) and IPE-oriented (international political economy) study of PIL (public international law). The present Chapter tackles the task of demonstrating the need for a PE and IPE

From the Cover: The growth of business firms: Theoretical framework and empirical evidence

Science.gov (United States)

Fu, Dongfeng; Pammolli, Fabio; Buldyrev, S. V.; Riccaboni, Massimo; Matia, Kaushik; Yamasaki, Kazuko; Stanley, H. Eugene

2005-12-01

We introduce a model of proportional growth to explain the distribution Pg(g) of business-firm growth rates. The model predicts that Pg(g) is exponential in the central part and depicts an asymptotic power-law behavior in the tails with an exponent = 3. Because of data limitations, previous studies in this field have been focusing exclusively on the Laplace shape of the body of the distribution. In this article, we test the model at different levels of aggregation in the economy, from products to firms to countries, and we find that the predictions of the model agree with empirical growth distributions and size-variance relationships. proportional growth | preferential attachment | Laplace distribution

Equifinality in empirical studies of cultural transmission.

Science.gov (United States)

Barrett, Brendan J

2018-01-31

Cultural systems exhibit equifinal behavior - a single final state may be arrived at via different mechanisms and/or from different initial states. Potential for equifinality exists in all empirical studies of cultural transmission including controlled experiments, observational field research, and computational simulations. Acknowledging and anticipating the existence of equifinality is important in empirical studies of social learning and cultural evolution; it helps us understand the limitations of analytical approaches and can improve our ability to predict the dynamics of cultural transmission. Here, I illustrate and discuss examples of equifinality in studies of social learning, and how certain experimental designs might be prone to it. I then review examples of equifinality discussed in the social learning literature, namely the use of s-shaped diffusion curves to discern individual from social learning and operational definitions and analytical approaches used in studies of conformist transmission. While equifinality exists to some extent in all studies of social learning, I make suggestions for how to address instances of it, with an emphasis on using data simulation and methodological verification alongside modern statistical approaches that emphasize prediction and model comparison. In cases where evaluated learning mechanisms are equifinal due to non-methodological factors, I suggest that this is not always a problem if it helps us predict cultural change. In some cases, equifinal learning mechanisms might offer insight into how both individual learning, social learning strategies and other endogenous social factors might by important in structuring cultural dynamics and within- and between-group heterogeneity. Copyright © 2018 Elsevier B.V. All rights reserved.

The Role of Ethnographic Studies in Empirical Software Engineering

DEFF Research Database (Denmark)

Sharp, Helen; Dittrich, Yvonne; Souza, Cleidson R. B. de

2016-01-01

Ethnography is a qualitative research method used to study people and cultures. It is largely adopted in disciplines outside software engineering, including different areas of computer science. Ethnography can provide an in-depth understanding of the socio-technological realities surrounding ever...... as a useful and usable approach to empirical software engineering research. Throughout the paper, relevant examples of ethnographic studies of software practice are used to illustrate the points being made.......Ethnography is a qualitative research method used to study people and cultures. It is largely adopted in disciplines outside software engineering, including different areas of computer science. Ethnography can provide an in-depth understanding of the socio-technological realities surrounding...... everyday software development practice, i.e., it can help to uncover not only what practitioners do, but also why they do it. Despite its potential, ethnography has not been widely adopted by empirical software engineering researchers, and receives little attention in the related literature. The main goal...

System analysis of energy utilization from waste - evaluation of energy, environment and economy. Case study - Stockholm

International Nuclear Information System (INIS)

Sundqvist, Jan-Olov; Granath, Jessica; Frostell, Bjoern; Bjoerklund, Anna; Eriksson, Ola; Carlsson, Marcus

1999-12-01

Energy, environmental, and economic consequences of different management systems for municipal solid waste have been studied in a systems analysis. In the systems analysis, different combinations of incineration, materials recycling of separated plastic and cardboard containers, and biological treatment (anaerobic digestion) of easily degradable organic waste, were studied and also compared to landfilling. In the study a computer model (ORWARE) based on LCA methodology was used. The following parameters were used for evaluating the different waste management options: consumption of energy resources, global warming potential, acidification, eutrophication, photo oxidant formation, heavy metal flows, financial economy and welfare economy, where welfare economy is the sum of financial economy and environmental economy. The study shows that reduced landfilling to the benefit of an increased use of energy and material from the waste is positive, from an environmental and energy as well as economic aspect. This is mainly due to the fact that the choice of waste management method affects processes outside the waste management system, such as production of district heating, electricity, vehicle fuel, plastic, cardboard, and fertiliser. This means that landfilling of energy-rich waste should be avoided as far as possible, both because of the the environmental impact, and because of the low recovery of resources. Incineration should constitute a basis in the waste management system of Stockholm. Once the waste is collected, longer regional transports are of little significance, as long as the transports are carried out in an efficient manner. Comparing materials recycling and incineration, and biological treatment and incineration, no unambiguous conclusions can be drawn. There are benefits and drawbacks associated with all these waste management options. Materials recycling of plastic containers is comparable to incineration from a welfare economic aspect, but gives less

49 CFR 537.9 - Determination of fuel economy values and average fuel economy.

Science.gov (United States)

2010-10-01

... 49 Transportation 6 2010-10-01 2010-10-01 false Determination of fuel economy values and average fuel economy. 537.9 Section 537.9 Transportation Other Regulations Relating to Transportation (Continued) NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION AUTOMOTIVE FUEL ECONOMY REPORTS § 537.9 Determination of fuel...

Choice of Foreign Market Entry Mode - Cognitions from Empirical and Theoretical Studies

OpenAIRE

Zhao, Xuemin; Decker, Reinhold

2004-01-01

This paper analyzes critically five basic theories on market entry mode decision with respect to existing strengths and weaknesses and the results of corresponding empirical studies. Starting from conflictions both in theories and empirical studies dealing with the entry mode choice problem we motivate a significant need of further research in this important area of international marketing. Furthermore we provide implications for managers in practice and outline emerging trends in market entr...

CUSTOMER INTERACTION ON DIGITAL ECONOMY: A CASE STUDY

Directory of Open Access Journals (Sweden)

Mateus Tavares da Silva Cozer

2007-10-01

Full Text Available On a digital economy context, customer interaction is fundamental to any company to provide competitive advantage. This research intends to give concrete answers for the sea of information complexity which is the Internet. The main case is to build a model of digital customer interaction. Customization extends beyond targeted media to include the design and delivery of the product itself. Venkatraman (1998 defines dynamic customization based on three principles: modularity, intelligence and organization. The research is based on Interaction Model and its variables are: Products, Modularity, Artificial Intelligence, Market driven organization, and virtual communities. Two organizations were studied, one with physical product and another with virtual product, and the results were shown from a qualitative research.

Empirical data and moral theory. A plea for integrated empirical ethics.

Science.gov (United States)

Molewijk, Bert; Stiggelbout, Anne M; Otten, Wilma; Dupuis, Heleen M; Kievit, Job

2004-01-01

Ethicists differ considerably in their reasons for using empirical data. This paper presents a brief overview of four traditional approaches to the use of empirical data: "the prescriptive applied ethicists," "the theorists," "the critical applied ethicists," and "the particularists." The main aim of this paper is to introduce a fifth approach of more recent date (i.e. "integrated empirical ethics") and to offer some methodological directives for research in integrated empirical ethics. All five approaches are presented in a table for heuristic purposes. The table consists of eight columns: "view on distinction descriptive-prescriptive sciences," "location of moral authority," "central goal(s)," "types of normativity," "use of empirical data," "method," "interaction empirical data and moral theory," and "cooperation with descriptive sciences." Ethicists can use the table in order to identify their own approach. Reflection on these issues prior to starting research in empirical ethics should lead to harmonization of the different scientific disciplines and effective planning of the final research design. Integrated empirical ethics (IEE) refers to studies in which ethicists and descriptive scientists cooperate together continuously and intensively. Both disciplines try to integrate moral theory and empirical data in order to reach a normative conclusion with respect to a specific social practice. IEE is not wholly prescriptive or wholly descriptive since IEE assumes an interdepence between facts and values and between the empirical and the normative. The paper ends with three suggestions for consideration on some of the future challenges of integrated empirical ethics.

Strategic Management Tools and Techniques: A Comparative Analysis of Empirical Studies

Directory of Open Access Journals (Sweden)

Albana Berisha Qehaja

2017-01-01

Full Text Available There is no doubt that strategic management tools and techniques are important parts of the strategic management process. Their use in organizations should be observed in a practice-based context. This paper analyzes the empirical studies on the usage of strategic management tools and techniques. Hence, the main aim of this study is to investigate and analyze which enterprises, according to their country development level, use more strategic management tools and techniques and which of these are used the most. Also, this paper investigates which strategic management tools and techniques are used globally according to the results of empirical studies. The study presents a summary of empirical studies for the period 1990–2015. The research results indicate that more strategic tools and techniques are used in developed countries, followed by developing countries and fewest in countries in transition. This study is likely to contribute to the field of strategic management because it summarizes the most used strategic tools and techniques at the global level according to varying stages of countries’ economic development. Also, the findings from this study may be utilized to maximize the full potential of enterprises and reduce the cases of entrepreneurship failures, through creating awareness of the importance of using strategic management tools and techniques.

On the Political Economy of Youth:a comment

OpenAIRE

Zucaria, Mayssoun; Tannock, Stuart

2016-01-01

This article is written as a brief comment on a recent discussion that has taken place in the pages of the Journal of Youth Studies on the question of youth, youth studies and political economy, in a series of articles by Côté [2014. “Towards a New Political Economy of Youth.” Journal of Youth Studies 17 (4): 527–543; Côté, J. 2016. “A New Political Economy of Youth Reprised: Rejoinder to France and Threadgold.” Journal of Youth Studies. doi:10.1080/13676261.2015.1136058] and France and Threa...

Energy-economy relationship and environmental regulation in the presence of unrecorded economy

International Nuclear Information System (INIS)

Karanfil, F.

2008-12-01

This PhD thesis including five manuscripts and a brief international comparison analysis proposes a multi-field study on the economic and environmental effects of energy consumption. It first investigates the causal relationship between economic growth and energy consumption in Turkey and then offers a new methodology for the estimation of unrecorded economy based on environmental data. The thesis develops also asymmetric information models, where the regulator does not know the true emission level of each firm that it wishes to regulate, so as to examine to what extend different enforcement mechanisms affect incentives for the firms to reduce polluting emissions and to invest in clean energy technologies. In order to provide a complete insight on the effects of both fiscal and environmental enforcement policies, some similar analysis are conducted taking into account the existence of unrecorded economy. The results in this thesis essentially show that: first, energy conservation policies can be implemented in order to reduce greenhouse gas emissions without any adverse effect on the recorded economic activities; second, different audit mechanisms should be used depending on the environmental objective of the enforcement agency; third, in some cases, environmental regulations may increase the size of unrecorded economy; fourth, economic policies to combat unrecorded economy may not serve as a complement to energy conservation policies. (author)

The Baltics on Their Way towards a Circular Economy

Directory of Open Access Journals (Sweden)

Grigoryan A. A.

2017-10-01

Full Text Available Circular economy has been studied extensively both in Europe and worldwide. It is largely viewed as a potential strategy for societal development, aimed to increase prosperity while reducing dependence on raw materials and energy. Many businesses regard circular economy as a way to enhance economic growth and increase profits. Governments across the world actively engage in the discussion about the benefits of a transition to a circular economy and about its impact on employment, economic growth, and the environment. This paper aims to study the major issues of circular economy, to identify its advantages, and to offer an insight into the transition stage the Baltic States are undergoing today on their way to circular economy. It is stressed that the Baltic countries are not fully using the opportunities offered by a circular economy. For example, Latvia’s, Lithuania’s, and Estonia’s recycling rates are significantly below those of other European countries. The Baltics depend heavily on EU financial support. An increase in funding will contribute to the implementation of circular economy technologies.

An Empirical Study on the Migration Among Young Skilled and Creative People

Directory of Open Access Journals (Sweden)

Marta-Christina Suciu

2017-08-01

Full Text Available In the context of a knowledge and innovative-based society and economy, smart and creative cities are attracting an increasing number of young people, most of them being gifted, very talented students and high-skilled workforce, with multiple competences. These young people are pro-active and they involve themselves on enhancing the progress of the community in which they are living. Many cities are facing a higher rate of brain drain, as a consequence of the quality of life and the low level of wages considering also a reduce level of acceptance and implementation of innovative solutions. In the last decades migration phenomenon had been amplified and there is an increased young people migration from emergent countries to the innovation driven countries, witch assure more financial stability and favourable conditions to contribute to both personal and professional development for its residents. Through an empiric research, we have identified the most important factors which contribute to the amplified migration among youths. We have also highlighted the motivational elements for returning to homeland, when the socio-economic situation is favourable. The paper includes also a set of recommendations that could create a proper framework to attract talented, skilled and creative youth, regardless their origin country.

Empathy at the confluence of neuroscience and empirical literary studies

NARCIS (Netherlands)

Burke, M.; Mangen, Anne; Kuzmicova, Anezka; Schilhab, Theresa

2016-01-01

The objective of this article is to review extant empirical studies of empathy in narrative reading in light of (a) contemporary literary theory, and (b) neuroscientific studies of empathy, and to discuss how a closer interplay between neuroscience and literary studies may enhance our understanding

The political economy of diagnosis-related groups.

Science.gov (United States)

Bertoli, Paola; Grembi, Veronica

2017-10-01

A well-established political economic literature has shown as multi-level governance affects the inefficiency of public expenditures. Yet, this expectation has not been empirically tested on health expenditures. We provide a political economy interpretation of the variation in the prices of 6 obstetric DRGs using Italy as a case study. Italy offers a unique institutional setting since its 21 regional governments can decide whether to adopt the national DRG system or to adjust/waive it. We investigate whether the composition and characteristics of regional governments do matter for the average DRG level and, if so, why. To address both questions, we first use a panel fixed effects model exploiting the results of 66 elections between 2000 and 2013 (i.e., 294 obs) to estimate the link between DRGs and the composition and characteristics of regional governments. Second, we investigate these results exploiting the implementation of a budget constraint policy through a difference-in-differences framework. The incidence of physicians in the regional government explains the variation of DRGs with low technological intensity, such as normal newborn, but not of those with high technological intensity, as severely premature newborn. We also observe a decrease in the average levels of DRGs after the budget constraint implementation, but the magnitude of this decrease depends primarily on the presence of physicians among politicians and the political alignment between the regional and the national government. To understand which kind of role the relevance of the political components plays (i.e., waste vs. better defined DRGs), we check whether any of the considered political economy variables have a positive impact on the quality of regional obstetric systems finding no effect. These results are a first evidence that a system of standardized prices, such as the DRGs, is not immune to political pressures. Copyright © 2017 Elsevier Ltd. All rights reserved.

Spatial Agglomeration, Technology and Outsourcing of Knowledge Intensive Business Services Empirical Insights from Italy

OpenAIRE

Antonietti, Roberto; Cainelli, Giulio

2007-01-01

Aim of this paper is to explore the main drivers of outsourcing of knowledge intensive business services by Italian manufacturing firms. While anecdotal and empirical evidence has emphasized labour cost and scale economies as behind firms’ choices to outsource production or service activities, here we focus on spatial agglomeration and technology as important factors. Using microeconomic data on a repeated cross-section of Italian manufacturing firms for the period 1998-2003, we develop a two...

Signs of political economy

Directory of Open Access Journals (Sweden)

Bernard Lamizet

2015-12-01

Full Text Available Like any political system, economy is a system of signs and representations. The Semiotics of economy elaborates its analytical methods to interpret such signs, which give meaning to the economy by representing its performances in public debate and in the media. Four major features distinguish the Semiotics of political economy from other semiotic forms or other systems of information and political representation. First of all, the relationship between the signification of the economy and the real or the imaginary phenomena to which they refer always pertains to the order of values. The second characteristic of economic signs is the significance of the state of lack they express. The third characteristic of signs of the economy is the form of sign production, which can be designated by the concept of emission of signs and their diffusion. Finally, as all signs, the economic sign is arbitrary. In the field of Economics, such arbitrariness does not imply that the Subject is free to superimpose whatever value to the signs themselves, but refers to the rupture between the world and its possible transformation. The very meaning of the word economy is here at stake. Oikos, in Greek (the term from which the word economy is derived refers to a known, familiar space. Economy transforms the real, natural world into a symbolic social world, into a world of relations with others whom we recognise and whose actions are relatively predictable. It might be useful to consider the contemporary issue of debt, its implications and its multiple meanings, which includes both the ethical and moral dimension of the condemnation of debt as well as the imaginary political dimension based on the expression of an idea of independence.

Financial Economy and Financial System: Basis of Structural Interconnection

Directory of Open Access Journals (Sweden)

Khorosheva Olena I.

2014-02-01

Full Text Available The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an aggregate of financial economies and financial market. The article justifies a necessity of expansion of boundaries of perception of the state financial economy, which is offered to include public financial economy of the state level and the set of financial economies of the state as a subject of economic activity. Such an approach forms a base for justification of the synthesis of participation of the state in financial relations as the owner and as the basic macro-economic regulator. Prospects of further study in this direction are: development of classification of financial economies; revelation of specific features of impact of shadow finance on development of the national financial economy; and assessment of possibilities of inclusion of structured financial products into the system of values of financial economies in Ukraine.

Mobile Systems Development: An Empirical Study

DEFF Research Database (Denmark)

Hosbond, J. H.

As part of an ongoing study on mobile systems development (MSD), this paper presents preliminary findings of research-in-progress. The debate on mobility in research has so far been dominated by mobile HCI, technological innovations, and socio-technical issues related to new and emerging mobile...... work patterns. This paper is about the development of mobile systems.Based on an on-going empirical study I present four case studies of companies each with different products or services to offer and diverging ways of establishing and sustaining a successful business in the mobile industry. From...... the case studies I propose a five-layered framework for understanding the structure and segmentation of the industry. This leads to an analysis of the different modes of operation within the mobile industry, exemplified by the four case studies.The contribution of this paper is therefore two-fold: (1) I...

Hydrogen economy

Energy Technology Data Exchange (ETDEWEB)

Pahwa, P.K.; Pahwa, Gulshan Kumar

2013-10-01

In the future, our energy systems will need to be renewable and sustainable, efficient and cost-effective, convenient and safe. Hydrogen has been proposed as the perfect fuel for this future energy system. The availability of a reliable and cost-effective supply, safe and efficient storage, and convenient end use of hydrogen will be essential for a transition to a hydrogen economy. Research is being conducted throughout the world for the development of safe, cost-effective hydrogen production, storage, and end-use technologies that support and foster this transition. This book discusses hydrogen economy vis-a-vis sustainable development. It examines the link between development and energy, prospects of sustainable development, significance of hydrogen energy economy, and provides an authoritative and up-to-date scientific account of hydrogen generation, storage, transportation, and safety.

Salt intrusion study in Cochin estuary - Using empirical models

Digital Repository Service at National Institute of Oceanography (India)

Jacob, B.; Revichandran, C.; NaveenKumar, K.R.

been applied to the Cochin estuary in the present study to identify the most suitable model for predicting the salt intrusion length. Comparison of the obtained results indicate that the model of Van der Burgh (1972) is the most suitable empirical model...

Political economies and environmental futures for the sharing economy.

Science.gov (United States)

Frenken, Koen

2017-06-13

The sudden rise of the sharing economy has sparked an intense public debate about its definition, its effects and its future regulation. Here, I attempt to provide analytical guidance by defining the sharing economy as the practice that consumers grant each other temporary access to their under-utilized physical assets. Using this definition, the rise of the sharing economy can be understood as occurring at the intersection of three salient economic trends: peer-to-peer exchange, access over ownership and circular business models. I shortly discuss some of the environmental impacts of online sharing platforms and then articulate three possible futures of the sharing economy: a capitalist future cumulating in monopolistic super-platforms allowing for seamless services, a state-led future that shifts taxation from labour to capital and redistributes the gains of sharing from winners to losers, and a citizen-led future based on cooperatively owned platforms under democratic control. The nature and size of the social and environmental impacts are expected to differ greatly in each of the three scenarios.This article is part of the themed issue 'Material demand reduction'. © 2017 The Authors.

Political economies and environmental futures for the sharing economy

Science.gov (United States)

2017-01-01

The sudden rise of the sharing economy has sparked an intense public debate about its definition, its effects and its future regulation. Here, I attempt to provide analytical guidance by defining the sharing economy as the practice that consumers grant each other temporary access to their under-utilized physical assets. Using this definition, the rise of the sharing economy can be understood as occurring at the intersection of three salient economic trends: peer-to-peer exchange, access over ownership and circular business models. I shortly discuss some of the environmental impacts of online sharing platforms and then articulate three possible futures of the sharing economy: a capitalist future cumulating in monopolistic super-platforms allowing for seamless services, a state-led future that shifts taxation from labour to capital and redistributes the gains of sharing from winners to losers, and a citizen-led future based on cooperatively owned platforms under democratic control. The nature and size of the social and environmental impacts are expected to differ greatly in each of the three scenarios. This article is part of the themed issue ‘Material demand reduction’. PMID:28461431

Overjustification effects in token economies.

Science.gov (United States)

Fisher, E B

1979-01-01

This study tested the relevance to clinical token economies of the overjustification hypothesis that tangible reward interferes with intrinsic interest in target behaviors and causes such behaviors to be less probable following a period of reinforcement than preceding such a period. The study was carried out in an ongoing token economy for chronic psychiatric patients. Alternated over an 8-week period were weeks of token and no-token reward for one of the program's target behaviors, toothbrushing. Two different amounts of token reward were employed in order to examine whether reward magnitude might influence the presence or extent of overjustification effects. Little evidence was found for the presence of overjustification effects in token economies. However, maintenance of toothbrushing was greater in no-token weeks following weeks of low amounts of token reward than in no-token weeks following weeks of higher amounts of reward. The importance of such complex functional relationships is discussed. PMID:511808

Economies of scale in ICT: how to balance infrastructure and applications for economies of scale in ICT and business

NARCIS (Netherlands)

Woudstra, U.; Dedene, G.; Maes, R.

2011-01-01

This study offers new insight into the economies of scale of ICT departments. Drawing from data on Housing Corporations, Municipalities and Hospitals, evidence was found that particularly infrastructure-related investments leverage a more efficient use of ICT resources. The measured economies

Economies of scale in ICT: how to balance infrastructure and applications for economies of scale in ICT and business

NARCIS (Netherlands)

Woudstra, U.A.

2010-01-01

This study offers new insight into the economies of scale of ICT departments. Drawing from data on Housing Corporations, Municipalities and Hospitals, evidence was found that particularly infrastructure-related investments leverage a more efficient use of ICT resources. The measured economies

The bright side of social economy sector’s projectification: a study of successful social enterprises

Directory of Open Access Journals (Sweden)

Beata Jalocha

2016-11-01

-funded projects, which aimed at increasing the level of development and improving the condition of social economy, were implemented. Some of these projects have resulted in the creation of durable, dynamically operating social enterprises, and some of them did not produce any long-term results. In case of successful projects, we can observe an unusual effect of projectification process: the creation of permanent structures, sustainable social economy organizations through the implementation of projects. Although we can identify examples of interesting research on impact of project work on NGOs (Brière, Proulx, Navaro, & Laporte, 2015; Golini, Kalchschmidt, Landoni, 2015 or critical success factors of non-governmental projects (Khang & Moe, 2008, there is a research gap which we would like to address in this paper: lack of research on project management best practices in social enterprises. Thus, the main research question we would like to investigate in the paper is: What are the factors that lead to creation of durable, permanent social economy enterprises from projects? This paper draws on set of qualitative data from broader research on social economy sector conducted in Poland in years 2011-2013 by researchers from the Institute of Public Affairs (IPA. For the purpose of this paper we have conducted multiple case study analysis and analysed 36 case studies of existing social enterprises. One of our research goals was to find out, which factors are critical in the process of creation durable social enterprises from projects. Also, we wanted to understand how projectification, influenced strongly by the EU policies, changes the landscape of social enterprises in Poland and helps them achieve success.

Empirical research in medical ethics: How conceptual accounts on normative-empirical collaboration may improve research practice

Science.gov (United States)

2012-01-01

Background The methodology of medical ethics during the last few decades has shifted from a predominant use of normative-philosophical analyses to an increasing involvement of empirical methods. The articles which have been published in the course of this so-called 'empirical turn' can be divided into conceptual accounts of empirical-normative collaboration and studies which use socio-empirical methods to investigate ethically relevant issues in concrete social contexts. Discussion A considered reference to normative research questions can be expected from good quality empirical research in medical ethics. However, a significant proportion of empirical studies currently published in medical ethics lacks such linkage between the empirical research and the normative analysis. In the first part of this paper, we will outline two typical shortcomings of empirical studies in medical ethics with regard to a link between normative questions and empirical data: (1) The complete lack of normative analysis, and (2) cryptonormativity and a missing account with regard to the relationship between 'is' and 'ought' statements. Subsequently, two selected concepts of empirical-normative collaboration will be presented and how these concepts may contribute to improve the linkage between normative and empirical aspects of empirical research in medical ethics will be demonstrated. Based on our analysis, as well as our own practical experience with empirical research in medical ethics, we conclude with a sketch of concrete suggestions for the conduct of empirical research in medical ethics. Summary High quality empirical research in medical ethics is in need of a considered reference to normative analysis. In this paper, we demonstrate how conceptual approaches of empirical-normative collaboration can enhance empirical research in medical ethics with regard to the link between empirical research and normative analysis. PMID:22500496

An update on the "empirical turn" in bioethics: analysis of empirical research in nine bioethics journals.

Science.gov (United States)

Wangmo, Tenzin; Hauri, Sirin; Gennet, Eloise; Anane-Sarpong, Evelyn; Provoost, Veerle; Elger, Bernice S

2018-02-07

A review of literature published a decade ago noted a significant increase in empirical papers across nine bioethics journals. This study provides an update on the presence of empirical papers in the same nine journals. It first evaluates whether the empirical trend is continuing as noted in the previous study, and second, how it is changing, that is, what are the characteristics of the empirical works published in these nine bioethics journals. A review of the same nine journals (Bioethics; Journal of Medical Ethics; Journal of Clinical Ethics; Nursing Ethics; Cambridge Quarterly of Healthcare Ethics; Hastings Center Report; Theoretical Medicine and Bioethics; Christian Bioethics; and Kennedy Institute of Ethics Journal) was conducted for a 12-year period from 2004 to 2015. Data obtained was analysed descriptively and using a non-parametric Chi-square test. Of the total number of original papers (N = 5567) published in the nine bioethics journals, 18.1% (n = 1007) collected and analysed empirical data. Journal of Medical Ethics and Nursing Ethics led the empirical publications, accounting for 89.4% of all empirical papers. The former published significantly more quantitative papers than qualitative, whereas the latter published more qualitative papers. Our analysis reveals no significant difference (χ2 = 2.857; p = 0.091) between the proportion of empirical papers published in 2004-2009 and 2010-2015. However, the increasing empirical trend has continued in these journals with the proportion of empirical papers increasing from 14.9% in 2004 to 17.8% in 2015. This study presents the current state of affairs regarding empirical research published nine bioethics journals. In the quarter century of data that is available about the nine bioethics journals studied in two reviews, the proportion of empirical publications continues to increase, signifying a trend towards empirical research in bioethics. The growing volume is mainly attributable to two

The role of entrepreneurship in transforming efficiency economies into innovation-based economies

Directory of Open Access Journals (Sweden)

Jurie van Vuuren

2018-04-01

Full Text Available Background: Entrepreneurship is believed to be a major driver of economic development. While it is right to consider entrepreneurship as a development tool, it is also crucial to identify the kind of entrepreneurship that contributes meaningfully towards economic development. Extant research revealed a U-shaped relationship between entrepreneurship and economic development and claimed that entrepreneurship in efficiency economies is dwarfed in terms of its contribution to economic development.   Aim: To identify and explain factors that would assist efficiency-based countries to transform their economies using entrepreneurship as a major policy tool.   Setting: We compared two structurally separate groups of countries. Each group consists of three countries and 9 years of data were extracted from Global Entrepreneurship Monitoring (GEM and United Nation (UN datasets.   Methods: We examined the relationship between entrepreneurship and economic development using comparative research design. Bivariate correlation analysis was used to detect associations and various descriptive statistical tools were applied to examine and compare the entrepreneurial tendencies of countries included in our study.   Results: The results indicated that entrepreneurship in efficiency economies is unfairly undervalued by academic commentators and that our findings pose a serious question as to the U-shaped relationship argument. The analysis revealed that the relationship between entrepreneurship and economic development is positive in both contexts, albeit the strength of the correlation is much more pronounced for innovation-driven economies compared to efficiency-driven countries. Furthermore, the analysis revealed that the rate of total early-stage entrepreneurial activity (TEA is strongly correlated with perceived opportunity and entrepreneurial intention scores in both contexts.   Conclusion: It is concluded that countries seeking to transform their

Economics of the energy economy; Oekonomie der Energiewirtschaft

Energy Technology Data Exchange (ETDEWEB)

Henrichs, Birgit

2008-11-15

The series designed by the Federal Association of Energy and Water Economy (BDEW) presents the topic energy by means of an interdisciplinary way in seven magazines. Each magazine is dedicated to important sub-topics. The series does not only address teachers of subjects in the field of natural sciences like physics, biology and chemistry but also teachers of the subjects social studies, geography, work studies and technology of the forms 5 - 10. The present seventh magazine of the study sequence is dedicated to the subject economics of the energy economy. The following aspects are described: the history of energy supply by pipelines, from a monopoly to competition, the electric power and gas market and its mechanism, basic elements of the energy policy, the role of the energy economy in the overall economy as well as perspectives of the world energy supply. (orig./RHN)

Sustainable degrowth through more amateur economy

DEFF Research Database (Denmark)

Nørgaard, Jørgen

2010-01-01

(back) from the prof. economy to the amateur economy will be less productive than the prof. economy in terms of output per man hour, but often more 'productive' in generating satisfaction and happiness in the process. Such a shift can create more ultimate benefit (happiness), but less product output......By a simple descriptive model is illustrated how the role of labor input tothe economy will have to revised in a degrowth economy. A destinction is made btween the Professional (GDP) economy, driven by money, and the Amateur economy (voluntary) driven by love. Shifting some economic activities...

An overview of the circular economy among SMEs in the Basque country: A multiple case study

Directory of Open Access Journals (Sweden)

Marta Ormazabal

2016-12-01

Full Text Available Purpose: This research analyzes the maturity of environmental management as well as the degree of to which the Circular Economy has been implemented in Basque SMEs. Design/methodology/approach: A total of 17 case studies were carried out in industrial SMEs companies in the Basque Country. Findings: The main results show that companies are limited to complying with the law and in many cases are worried about the image of the company, although they are not committed to environmental issues. There is still a lot to do in SMEs, as they are the companies that face the biggest challenges due to a lack of resources. Originality/value: Circular Economy aims to change a linear economy into promoting sustainability of the economy while also engaging in sustainable environmental protection. This research has focused on small and medium enterprises as they represent a 99% of companies in Europe and they are the ones that have the most difficulty reaching a stage of environmental excellence due to their limited resources.

It's the rents, stupid. The political economy of the resource curse

Energy Technology Data Exchange (ETDEWEB)

Kolstad, Ivar; Wiig, Arne [Chr. Michelsen Institute, P.O. Box 6033 Postterminalen, N-5892 Bergen (Norway)

2009-12-15

A number of studies suggest that natural resources can have a negative impact on the developing prospects of countries. Empirical results suggest that political economy models of patronage and rent-seeking are central to understanding why such a resource curse arises. In other words, the resource curse is created by certain resource rents leading to dysfunctional behaviour. This article introduces the term impartiality enhancing institutions to structure policy debates by distinguishing conditions under which negative effects of resources can be mitigated. Moreover, it is argued that viewing institutions as an equilibrium outcome has implications for the analysis of institutional change. Policy initiatives that do not promote the impartiality of institutions, nor attend to the underlying interests and incentives keeping a bad institutional equilibrium in place, will not help lift the resource curse. (author)

The Economy Governing During Globalization Era

Directory of Open Access Journals (Sweden)

Ion Bucur

2006-09-01

Full Text Available World and national economie governing is an essential premise of the political stability and democratic evolution. In this study are approached theoretical and practical aspects of the economie governing. Theoretical acquisitions in this field highlit multiple perspectives of approaching and difficulties to characterize this complex and multisized fenomenon. A possible theory of governing the economy needs to use some concepts and mechanisms particular to more scientific fields (political science, economy, cibernetics, the theory of systems and others. The dinamic character and the instability of the present system of governing imposed the analysis of the factors and conditions which have generated the crises of the national and world economic governing. In this context, there are indentified the forms of manifesting the instability (lack of legitimacy, transpa¬rence and democratic responsability, and also the direction of necessary action to implement an efficient and responsable economic governing.

The Economy Governing During Globalization Era

Directory of Open Access Journals (Sweden)

Ion Bucur

2006-07-01

Full Text Available World and national economie governing is an essential premise of the political stability and democratic evolution. In this study are approached theoretical and practical aspects of the economie governing. Theoretical acquisitions in this field highlit multiple perspectives of approaching and difficulties to characterize this complex and multisized fenomenon. A possible theory of governing the economy needs to use some concepts and mechanisms particular to more scientific fields (political science, economy, cibernetics, the theory of systems and others. The dinamic character and the instability of the present system of governing imposed the analysis of the factors and conditions which have generated the crises of the national and world economic governing. In this context, there are indentified the forms of manifesting the instability (lack of legitimacy, transpa¬rence and democratic responsability, and also the direction of necessary action to implement an efficient and responsable economic governing.

Knowledge for a sustainable economy. Knowledge questions around the Dutch Memorandum on Environment and Economy ('Nota Milieu en Economie'); Kennis voor een duurzame economie. Kennisvragen rond de Nota Milieu en Economie

Energy Technology Data Exchange (ETDEWEB)

Dieleman, J.P.C.; Hafkamp, W.A. [Erasmus Studiecentrum voor Milieukunde, Erasmus Universiteit Rotterdam, Rotterdam (Netherlands)

1999-05-19

June 18, 1997, the Dutch government presented the Memorandum Environment and Economy with the aim to contribute to integration of environment and economy and to stimulation the realization of a sustainable economy. Next to a vast overview of actions, ideas, perspectives, staring points, challenges and dilemmas to take into account when forming a sustainable economy, it is indicated in that Memorandum that there is a need for research and knowledge to compile relevant data and insight to support decision making processes. The aim of this report is to develop a framework in which knowledge questions can be generated. The questions that fall outside the framework of the Memorandum concern needs, values and images and are formulated in four groups: (1) what is the role of materialism and stress in processes of conventional economic growth?; (2) What is the importance of reduction of consumption ('consuminderen') and slowing down ('onthaasting' or dehasting) to realize a process of sustainable economic development; (3) which images form the basis of the present process of economic development, where do they come from and how do they change over time; and (4) which images of progression give direction to a sustainable economic development and how do they exist? The questions that follow the Memorandum concern decoupling (of environment and economy), sustainable consumption, knowledge economy, institutions and a process of change. Central in the framework of knowledge questions are questions, related to perspectives and actions, as formulated in the Memorandum for different sectors in the Dutch society: industry and services; agriculture and rural areas; and traffic, transport and infrastructure.

Economy

OpenAIRE

Haring, Ben

2009-01-01

The economy of ancient Egypt is a difficult area of study due to the lack of preservation of much data (especially quantitative data); it is also a controversial subject on which widely divergent views have been expressed. It is certain, however, that the principal production and revenues of Egyptian society as a whole and of its individual members was agrarian, and as such, dependent on the yearly rising and receding of the Nile. Most agricultural producers were probably self-sufficient tena...

Free variable economy

NARCIS (Netherlands)

Roelofsen, F.

2009-01-01

Several authors have recently argued that semantic interpretation is subject to economy constraints. In particular, Fox (1999) argued that the interpretation of pronouns is subject to BINDING ECONOMY, which favors local binding over non-local binding. The present paper points out a problem for

Comparison of district heating expansion potential based on consumer-economy or socio-economy

DEFF Research Database (Denmark)

Grundahl, Lars; Nielsen, Steffen; Lund, Henrik

2016-01-01

Recent studies show that a high share of district heating is an important part of a future sustainable energy system or smart energy system with a high renewable energy penetration. These studies also show socio-economic benefits of expanding the district heating coverage. However, in order...... to implement such an expansion, district heating needs to be economically feasible for the heat consumers. This aspect is often not investigated and hence it is unknown if calculations based on consumer-economy, where tax payment is included, will yield the same potential of expansion. This study identifies...... the differences in the expansion potential of district heating calculated with a socio-economic and a consumer-economic approach, respectively, in a case study of Denmark. By also investigating the consumer-economy of expanding district heating, a deeper insight is obtained of possible locations for expanding...

The Influence of Legitimacy on a Proactive Green Orientation and Green Performance: A Study Based on Transitional Economy Scenarios in China

Directory of Open Access Journals (Sweden)

Baoshan Ge

2016-12-01

Full Text Available With environmental pollution, climate change and resource scarcity being serious global issues, green entrepreneurship is increasingly seen as an approach to simultaneously address economic performance, environmental impact and social responsibility. As green entrepreneurship needs to consider both venture performance and social responsibility, it will be subject to legitimacy constraints at the system level. Whether these legitimacy constraints are favorable to green enterprise is not yet clear from current research. Especially for transition economies, the problem of whether proactive green enterprises facing legitimacy constraints under institutional uncertainty can achieve green performance requires further study. Thus, a theoretical model to determine the relationship between green proactiveness orientation (GPO, green performance, legitimacy, and transitional economics was proposed. Based on the data from 235 new Chinese green firms, the empirical results suggest that green startups launch with a green proactiveness orientation, which enables them to acquire a green performance advantage over their competitors. Improvements in green performance is also shown to be driven by the pressure from institutional legitimacy. Better green performance can be easily achieved if green startups have a higher level of legitimacy. However, against the background of transitional economies, the increase in institutional uncertainty will damage the promotion of political legitimacy and make the enterprises that are subject to political legitimacy constraints lose their green performance. Currently, political legitimacy is no longer an impetus. However, the increase in institutional uncertainty will strengthen the promotion of commercial legitimacy and cause green-oriented startups to pursue more commercial interests. Thus, to a certain extent, it will lead to market uncertainty. The conclusion of this study not only provides guidance for startups in

Financial Crisis, openness of the economy and the financial performance of Jordanian listed banks: analytical study

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Ali Mustafa Abdullah Al Qudah, Dr.

2014-06-01

Full Text Available This study examined the impact of the world financial crisis and openness of the economy on the financial performance of Jordanian listed banks through the period 2005-2008. Panel data analysis is employed to examine study hypotheses. The results showed that the world financial crisis has a negative and significant impact on the financial performance measured by return on assets, return on equity, earning per share, market share prices, and market value while it has a positive but not significant impact on dividend yields. The study also found that openness of the economy has a positive and significant impact on the financial performance of Jordanian listed banks.

CASE STUDY: Tanzania — Competition policy spurs economy-wide ...

International Development Research Centre (IDRC) Digital Library (Canada)

2010-12-16

Dec 16, 2010 ... People often fear for their futures when free-market policies are introduced. ... No matter how well an economy is doing, politicians like to say that for each ... holdings that interfere with legitimate and successful competition.

CURRENT TRENDS IN THE KNOWLEDGE ECONOMY

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Ciprian Ionel HRETCANU

2015-07-01

Full Text Available In this paper we discuss various aspects of the current economy known as the knowledge economy. Also we will review two indicators of this new economy, because these indicators presents a general plan on access, use and degree of diffusion of knowledge. Then, based on these indicators and taking into account other aspects, we outline the structure relations between "new economy" and "digital economy". Finally we present the main types of business existing in the digital economy.

An Automated Defect Prediction Framework using Genetic Algorithms: A Validation of Empirical Studies

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Juan Murillo-Morera

2016-05-01

Full Text Available Today, it is common for software projects to collect measurement data through development processes. With these data, defect prediction software can try to estimate the defect proneness of a software module, with the objective of assisting and guiding software practitioners. With timely and accurate defect predictions, practitioners can focus their limited testing resources on higher risk areas. This paper reports the results of three empirical studies that uses an automated genetic defect prediction framework. This framework generates and compares different learning schemes (preprocessing + attribute selection + learning algorithms and selects the best one using a genetic algorithm, with the objective to estimate the defect proneness of a software module. The first empirical study is a performance comparison of our framework with the most important framework of the literature. The second empirical study is a performance and runtime comparison between our framework and an exhaustive framework. The third empirical study is a sensitivity analysis. The last empirical study, is our main contribution in this paper. Performance of the software development defect prediction models (using AUC, Area Under the Curve was validated using NASA-MDP and PROMISE data sets. Seventeen data sets from NASA-MDP (13 and PROMISE (4 projects were analyzed running a NxM-fold cross-validation. A genetic algorithm was used to select the components of the learning schemes automatically, and to assess and report the results. Our results reported similar performance between frameworks. Our framework reported better runtime than exhaustive framework. Finally, we reported the best configuration according to sensitivity analysis.

MEREDUKSI PROKRASTINASI AKADEMIK MAHASISWA MELALUI TEKNIK TOKEN ECONOMY

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Mujiyati Mujiyati

2015-10-01

Full Text Available Abstract The research is motivated by the indiscipline of students in attendance in class, working and collecting duties. That is the behavior of student academic procrastination. Therefore, efforts were made to solve the problem, one of them using a technique token economy. The purpose of this study was to determine the effect of the use of techniques token economy in reducing students' academic procrastination. The research methodusing aquasi-experimentalanddata analysis techniquesusing the t test.The results showed that the use of techniques token economy proved to effectively reduce students' academic procrastination. Keywords: Academic Procrastination, Reinforcement, Token Economy

The lending channel and budget balance: empirical evidences from Central and Eastern European economies

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Bogdan-Gabriel MOINESCU

2013-03-01

Full Text Available The study aims to deepen the analysis on the indirect dependence of government budget balance on private sector credit flow in the countries of Central and Eastern Europe. The added value of this approach consists of two elements. First, the analysis suggests developing the traditional analytical framework of assessing risks to public finance stability by including second round effects of negative fiscal impulses on credit to private sector during recession periods. Second, the study provides empirical evidence on the importance of economic growth transmission channel for the impact of credit accelerator effects on primary deficit. At the same time, nonperforming loans channel proved to be insignificant, especially in relation to the persistency of last year’s budget deficit and the effects of budget allocations pro-cyclicality. However, loan portfolio quality seems to be more relevant in the case of public debt service, through its influence on the evolution of the yield on long-term government securities that is closely related to sovereign risk premium. Nevertheless, strengthening the financial safety net by the introduction of resolution funds will most probably break the link investors saw between credit portfolio quality and the impending increase in budget spending. This expected development across not only CEE countries, but at the EU level also, will facilitate the isolation of sovereign risk premium from non-performing loans’ dynamics.

Do political or economic factors drive healthcare financing privatisations? Empirical evidence from OECD countries

OpenAIRE

Wiese, Rasmus

2013-01-01

This paper adds new empirical evidence to the political economy literature of economic reform. One of the main contributions of this paper is the development of a novel methodology to identify privatisations. The methodology is a combination of the Bai & Perron structural break filter, and validation of the breaks identified by this filter using de jure evidence of reforms. 21 de facto healthcare financing privatisations are identified in a sample of 23 OECD countries. It is analysed which fa...

ECONOMY AND SOCIAL ENVIRONMENT

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Oleg BOGOMOLOV

2008-12-01

Full Text Available Market reforms in the post-socialist countries have brought into sharp focus the problem of interconnection and interaction between the economy and the social environment. The economy is inseparable from politics and the operation of the political system, from the state of the social consciousness, the moral and cultural level of the population and from many other aspects of human life and behavior, in short, from everything that can be described by the concept of social environment. Society in every country is a single organism with closely interconnected and interacting parts and systems. Their conjugation and mutual influence are not always apparent and are often overlooked. It is quite easy to see how changes in policy affect the economy and then trace the feedback effect of the economy on policy. It is more difficult to discern the direct and feedback relationship of the economy with administrative relations, with the state of culture, science, morals and public opinion. Meanwhile, an underestimation of these mutual influences is a frequent cause of failures in socio-economic transformation. It is to be regretted that the reforms in Russia were accompanied by a dangerous disruption not only of the economy, but also of the entire system of social relations. What was primary here and what was secondary? In order to answer this question the paper takes a theoretical look at the problem of interaction between the economy and the social environment.

The Role of Light and Music in Gambling Behaviour: An Empirical Pilot Study

Science.gov (United States)

Spenwyn, Jenny; Barrett, Doug J. K.; Griffiths, Mark D.

2010-01-01

Empirical research examining the situational characteristics of gambling and their effect on gambling behaviour is limited but growing. This experimental pilot investigation reports the first ever empirical study into the combined effects of both music and light on gambling behaviour. While playing an online version of roulette, 56 participants…

System analysis of energy utilization from waste - evaluation of energy, environment and economy. Case study - Aelvdalen

International Nuclear Information System (INIS)

Sundqvist, Jan-Olov; Granath, Jessica; Frostell, Bjoern; Bjoerklund, Anna; Eriksson, Ola; Carlsson, Marcus

1999-12-01

Energy, environmental, and economic consequences of different management systems for municipal solid waste have been studied in a systems analysis. In the systems analysis, different combinations of incineration, materials recycling of separated plastic and cardboard containers, and biological treatment (anaerobic digestion and composting) of easily degradable organic waste, were studied and also compared to landfilling. In the study a computer model (ORWARE) based on LCA methodology was used. The following parameters were used for evaluating the different waste management options: consumption of energy resources, global warming potential, acidification, eutrophication, photo oxidant formation, heavy metal flows, financial economy and welfare economy, where welfare economy is the sum of financial economy and environmental economy. The study shows that reduced landfilling to the benefit of an increased use of energy and material from waste is positive from an environmental and energy as well as economic aspect. This is mainly due to the fact that the choice of waste management method affects processes outside the waste management system, such as production of district heating, vehicle fuel, plastic, cardboard, and fertiliser. This means that landfilling of energy-rich waste should be avoided as far as possible, both because of the the environmental impact, and because of the low recovery of resources. Incineration should constitute a basis in the waste management system of Aelvdalen, even if the waste has to be transported to a regional facility. Once the waste is collected, longer regional transports are of little significance, as long as the transports are carried out in an efficient manner. Comparing materials recycling and incineration, and biological treatment and incineration, no unambiguous conclusions can be drawn. There are benefits and drawbacks associated with all these waste management options. Materials recycling of plastic containers is comparable to

System analysis of energy utilization from waste - evaluation of energy, environment and economy. Case study - Uppsala

International Nuclear Information System (INIS)

Sundqvist, Jan-Olov; Granath, Jessica; Frostell, Bjoern; Bjoerklund, Anna; Eriksson, Ola; Carlsson, Marcus

1999-12-01

Energy, environmental, and economic consequences of different management systems for municipal solid waste have been studied in a systems analysis. In the systems analysis, different combinations of incineration, materials recycling of separated plastic and cardboard containers, and biological treatment (anaerobic digestion and composting) of easily degradable organic waste, were studied and also compared to landfilling. In the study a computer model (ORWARE) based on LCA methodology was used. The following parameters were used for evaluating the different waste management options: consumption of energy resources, global warming potential, acidification, eutrophication, photo oxidant formation, heavy metal flows, financial economy and welfare economy, where welfare economy is the sum of financial economy and environmental economy. The study shows that reduced landfilling to the benefit of an increased use of energy and material from waste is positive from an environmental and energy as well as economic aspect. This is mainly due to the fact that the choice of waste management method affects processes outside the waste management system, such as production of district heating, electricity, vehicle fuel, plastic, cardboard, and fertiliser. This means that landfilling of energy-rich waste should be avoided as far as possible, both because of the the environmental impact, and because of the low recovery of resources. Incineration should constitute a basis in the waste management system of Uppsala. Once the waste is collected, longer regional transports are of little significance, as long as the transports are carried out in an efficient manner. Comparing materials recycling and incineration, and biological treatment and incineration, no unambiguous conclusions can be drawn. There are benefits and drawbacks associated with all these waste management options. Materials recycling of plastic containers is comparable to incineration from a welfare economic aspect, but gives

Historical Improvement in Speed Skating Economy.

Science.gov (United States)

Noordhof, Dionne A; van Tok, Elmy; Joosten, Florentine S J G M; Hettinga, Florentina J; Hoozemans, Marco J M; Foster, Carl; de Koning, Jos J

2017-02-01

Half the improvement in 1500-m speed-skating world records can be explained by technological innovations and the other half by athletic improvement. It is hypothesized that improved skating economy is accountable for much of the athletic improvement. To determine skating economy in contemporary athletes and to evaluate the change in economy over the years. Contemporary skaters of the Dutch national junior team (n = 8) skated 3 bouts of 6 laps at submaximal velocity, from which skating economy was calculated (in mL O 2 ・ kg -1 ・ km -1 ). A literature search provided historic data on skating velocity and submaximal V̇O 2 (in mL ・ kg -1 ・ min -1 ), from which skating economy was determined. The association between year and skating economy was determined using linear-regression analysis. Correcting the change in economy for technological innovations resulted in an estimate of the association between year and economy due to athletic improvement. A mean (± SD) skating economy of 73.4 ± 6.4 mL O 2 ・ kg -1 ・ km -1 was found in contemporary athletes. Skating economy improved significantly over the historical time frame (-0.57 mL O 2 ・ kg -1 ・ km -1 ・ y -1 , 95% confidence interval [-0.84, -0.31]). In the final regression model for the klapskate era, with altitude as confounder, skating economy improved with a nonsignificant -0.58 mL O 2 ・ kg -1 ・ km -1 ・ y -1 ([-1.19, 0.035]). Skating economy was 73.4 ± 6.4 mL O 2 ・ kg -1 ・ km -1 in contemporary athletes and improved over the past ~50 y. The association between year and skating economy due to athletic improvement, for the klapskate era, approached significance, suggesting a possible improvement in economy over these years.

Overview of Low-carbon Economy Research

OpenAIRE

Fu, Hui

2010-01-01

The paper has a detailed literature review in low-carbon economy research of academy circle in our country from three aspects that are conception and connotation of low-carbon economy, necessity and urgency of developing low-carbon economy and path choice of realizing low-carbon economy in our country. Low-carbon economy is the “green economy†that obtains the maximum output by discharging minimum greenhouse gases with the main characteristics of “three low and three high†that are low ...

Fiji 2012: Revitalizing the Fiji Economy

OpenAIRE

Asian Development Bank (ADB)

2012-01-01

This report provides a longitudinal study of the Fiji economy covering more than 2 decades of growth and development. It presents an economic update and outlook for the Fiji economy and assesses the key drivers of performance across key economic sectors. The report identifies potential reform strategies that can guide future policy action, assist in accelerating growth, and strengthen pro-poor policy development in Fiji.

an empirical study of poverty in calabar and its environs.

African Journals Online (AJOL)

DJFLEX

2009-06-17

Jun 17, 2009 ... AN EMPIRICAL STUDY OF POVERTY IN CALABAR AND ITS. ENVIRONS. ... one of the poorest nations in the world (CBN, 2001). Specifically, these .... rural development in poor regions, inadequate access to education ...

Construction of an evaluation index system of water resources bearing capacity: An empirical study in Xi’an, China

Science.gov (United States)

Qu, X. E.; Zhang, L. L.

2017-08-01

In this paper, a comprehensive evaluation of the water resources bearing capacity of Xi’an is performed. By constructing a comprehensive evaluation index system of the water resources bearing capacity that included water resources, economy, society, and ecological environment, we empirically studied the dynamic change and regional differences of the water resources bearing capacities of Xi’an districts through the TOPSIS method (Technique for Order Preference by Similarity to an Ideal Solution). Results show that the water resources bearing capacity of Xi’an significantly increased over time, and the contributions of the subsystems from high to low are as follows: water resources subsystem, social subsystem, ecological subsystem, and economic subsystem. Furthermore, there are large differences between the water resources bearing capacities of the different districts in Xi’an. The water resources bearing capacities from high to low are urban areas, Huxian, Zhouzhi, Gaoling, and Lantian. Overall, the water resources bearing capacity of Xi’an is still at a the lower level, which is highly related to the scarcity of water resources, population pressure, insufficient water saving consciousness, irrational industrial structure, low water-use efficiency, and so on.

Economies of scale in the Italian waste collection sector; Analisi dei rendimenti di scala per il servizio di igiene urbana in Italia

Energy Technology Data Exchange (ETDEWEB)

Antonioli, B. [Ferrara Univ., Ferrara (Italy). Facolta' di Economia; Universita' della Svizzera Italiana, Facolta' di Economia, Lugano (Switzerland); Fazioli, R. [Ferrara Univ., Ferrara (Italy). Facolta' di Economia; Filippini, M. [Universita' della Svizzera Italiana, Facolta' di Economia, Lugano (Switzerland); Politecnico Federale, Zurich(Switzerland)

2000-06-01

The purpose of this study is to analyse the cost structure of a sample of Italian waste collection firms in order to assess economies of scale and density so to estimate economic rationality of competition in the waste collection sector. A trans log cost function was estimated using panel data for a sample of 30 firms of waste collection and disposal operating at provincial level over the period 1991-1995. The results indicate the existence of economies of density and scale for most output levels. The empirical evidence suggests that franchised monopolies, rather than side-by-side competition, is the most efficient form of production organisation in the waste collection sector. [Italian] L'obiettivo del presente studio e' l'analisi della struttura dei costi di un campione di imprese pubbliche italiane operanti nel settore dell'igiene urbana, allo scopo di valutare la presenza di economie di scala e di densita' e, conseguentemente, l'opportunita' di introdurre concorrenza nel settore. A tal fine, e' stata stimata una funzione di costo translogaritmica per un campione di 30 imprese pubbliche di raccolta e smaltimento dei rifiuti, operanti a livello provinciale, per il periodo 1991-1995. I risultati indicano la presenza di economie di scala e di monopolies, piuttosto che la side-by-side competition, costituiscono la forma gestionale maggiormente efficiente per il settore.

Consumer Rights in Digital Economy. Case Study of Romanian e-commerce Usage

OpenAIRE

Lorena BĂTĂGAN; Andreea MĂRĂŞESCU; Adrian POCOVNICU

2010-01-01

Current economy or digital economy is driven by modern information and new technologies, which offer to organizations or to the public access to almost any type of information, regardless of its form of existence, storage type or geographical location. These tools encourage the development of new activities, services and products. All developed countries have issued and implemented government policies supporting: the evolution and the adoption of new technology, the natio...

A Survey on Agricultural Trade Policies in Bangladesh: theoretical Insights and empirical Evidence

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Dayal Talukder

2014-01-01

Full Text Available The purpose of this paper is to review the theoretical insights and empirical evidence on agricultural trade policies and their impacts on the Bangladesh‟s economy, with a view to presenting both, the positive and negative effects of trade liberalization. Theoretically, while advocates of trade liberalization argue that free trade is an engine of growth and protection leads to wasteful use of resources, critics argue that openness has its costs and sometimes it could be detrimental to the economic development. The empirical evidence in Bangladesh was consistent with the ongoing debate on the effects of trade liberalization on economic development. The evidence remained mixed and loaded with criticisms on the grounds of choice of liberalization determinants, model specifications and methodology, as well as other measurement shortcomings. The review suggests that the literature is inconclusive and outcomes are largely case-specific.

A Survey on Agricultural Trade Policies in Bangladesh: theoretical Insights and empirical Evidence

Directory of Open Access Journals (Sweden)

D. Talukder

2014-06-01

Full Text Available The purpose of this paper is to review the theoretical insights and empirical evidence on agricultural trade policies and their impacts on the Bangladesh’s economy, with a view to presenting both, the positive and negative effects of trade liberalization. Theoretically, while advocates of trade liberalization argue that free trade is an engine of growth and protection leads to wasteful use of resources, critics argue that openness has its costs and sometimes it could be detrimental to the economic development. The empirical evidence in Bangladesh was consistent with the ongoing debate on the effects of trade liberalization on economic development. The evidence remained mixed and loaded with criticisms on the grounds of choice of liberalization determinants, model specifications and methodology, as well as other measurement shortcomings. The review suggests that the literature is inconclusive and outcomes are largely case-specific

The Theoretical Foundations of Structural Changes in Economy

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Khaustova Viktoriia Ye.

2017-12-01

Full Text Available The article is aimed at defining the theoretical foundations of structural changes in economy. It has been proved that structural policy of the State is one of the main directions influencing the structure of economy, balancing its proportions, and ensuring progressive development. The components of structural policy have been defined. Genesis of scientific directions of researching the structure of economy was considered. The interpretation of the concept of «structure of economy» in the works of scientists was studied. The classification of particular structures of the national industrial complex was considered. It has been proved that the main role in the analysis of structural changes should be given to the structure of economy (of industrial complex, according to the types of economic activity. The interpretations of the concepts of «structural transformations», «structural shifts», «structural changes», «structural crisis» in the economy have been clarified. The functions of structural crises have been considered. The dynamics of changes in structural shifts were researched. The classification of structural shifts in the economy was considered. An interpretation of progressive structural changes has been suggested.

Privatization Framework: Political Economy Perspective

OpenAIRE

Bastian, Indra

2009-01-01

Privatization has been recognized as a worldwide phenomenon. In this pa-per, a political economy approach is developed to analyze privatization. The ap-proach assumes that political economy and privatization overlap in people’s need. So, the framework of political economy in privatization is based on the ‘need’ phi-losophy. Government and private sectors are contrasted in this respect, leading to a conclusion on privatization as a method to manage the economy. Keywords: privatization, politic...

Does age impact self-actualization needs?—an empirical study ...

African Journals Online (AJOL)

Thus, although this study supports the existence of needs, the chronology of their dominance may not be as per Maslow's hierarchy pyramid. This empirical study establishes that there may not be progressive increase in self-actualization need as age progresses. Keywords: Maslow, need priorities, age, self-actualization ...

An Empirical Study on Green Innovation Efficiency in the Green Institutional Environment

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Yang Gao

2018-03-01

Full Text Available Previous studies have found that reverse technology spillover effects can promote industrial technology modernization in developing countries. However, it is still unknown whether reverse technology spillover effects can improve green innovation efficiency in developing countries. In particular, institutional uncertainties characteristic of transition economies have a significant impact on industrial modernization. Therefore, researching the impact of the institutional environment on the relationship between reverse technology spillover effects and green innovation efficiency is of great significance. In this paper, we use data from G20 countries as well as China’s foreign direct investment (FDI data to measure the effects of reverse technology spillovers and adopt the threshold effect model to explore the relationship between reverse technology spillover effects and green innovation efficiency as well as the influence of the institutional environment on this relationship, based on China’s provincial panel data from 2003 to 2015. The empirical results show that the reverse technology spillover effects can effectively improve green innovation efficiency. There is a threshold for the influence of the institutional environment on the relationship between reverse technology spillover effects and green innovation efficiency. When the institutional development level surpasses the threshold value, an acceleration effect is generated. In addition, we find that the legal system is the key bottleneck in terms of improving green innovation efficiency. How to improve and perfect the path of institutional construction in China and how to enable institutions to gain threshold speed-up effects have become the major problems the Chinese government faces in institutional construction. The research results of this paper offer a reference to developing countries in regard to improving their institutions and enhancing their green innovation efficiency.

Economies of Scale on the Municipal Level: Fact or Fiction in the Czech Republic?

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Matějová Lenka

2017-06-01

Full Text Available Many countries have carried out extensive amalgamation-related territorial reforms at the level of local self-government and created relatively large municipalities. The Czech Republic is one of the few remaining European countries with a fragmented territorial structure. There is a lot of discussion in the country about the need for amalgamation, but this discussion is mainly based on political arguments rather than on empirical evidence about the feasibility of amalgamation and its potential to improve local government performance. This paper analyses economies of scale on the local level as a factor that should be reflected in debates about the pros and cons of amalgamation in the Czech Republic. To add to the existing knowledge about the reality of economies of scale on the municipal level in the Czech Republic, we processed the municipal costs of three selected areas on a representative sample of municipalities in the South Moravian Region. The analysis showed that economies of scale can be identified for collecting local fees and for pre-school and elementary education, but not for local administration. Our results suggest that the existence of too small municipalities in the Czech Republic results in inefficiencies and should be addressed.

Convergence and Distributions of Income in Large European Economies

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Michał Kruszka

2010-12-01

Full Text Available The aim of this paper is an empirical analysis of the convergence process in the years 1993–2008 and the impact of economic growth on income distribution in selected European Union countries. Considering this fact one can state that research was conducted from the perspective of EU citizens. The crucial hypothesis of this paper is statement that convergence is differently perceived in terms of entire economies, and gives a different picture from the perspective of the single citizen of the selected country. The analysis was carried out in several stages. Initially, the authors referred to the classical convergence hypotheses (unconditional β and σ convergence within the EU-27, then the same assumptions were examined taking into account population – weighted indicators. However, the main aim of research undertaken in this study was to investigate the individual within – country distribution of income for the initial and final period, which allowed to answer the question whether faster growth of the ‘new EU’ was accompanied by reduction of inequalities within analyzed economic systems.

Information communication technology and electricity consumption in emerging economies

International Nuclear Information System (INIS)

Sadorsky, Perry

2012-01-01

This study examines the impact of information communication technology (ICT) on electricity consumption in emerging economies. The empirical results, obtained from dynamic panel demand models, show a positive and statistically significant relationship between ICT and electricity consumption when ICT is measured using internet connections, mobile phones or the number of PCs. Long-run ICT elasticities are smaller than income elasticities but because ICT growth rates are so much higher than income growth rates, the impact of ICT on electricity demand is greater than the impact of income on electricity demand. One implication of these results is that policies designed to close the “digital divide” between developed and developing economics by increasing the adoption of ICT in developing countries are put at odds with energy policies to reduce GHG emissions. - Highlights: ► ICT usage is growing rapidly in developing countries. ► ICT usage affects electricity consumption. ► Three different measures of ICT are examined. ► Short-run and long-run ICT elasticities are calculated. ► Implications for energy policy are discussed.

Social Economy and Responsibility

Directory of Open Access Journals (Sweden)

Eva Abramuszkinová Pavlíková

2012-01-01

Full Text Available Given the importance of entrepreneurial activities as an engine of economic growth and poverty alleviation, the issue of business development and entrepreneurial activities, has received increasing attention from a number of interested parties worldwide and also in the Czech Republic. The focus of this paper is on a social economy, a social responsibility and social enterprises. The development of the social economy framework will be introduced in the European context and specifically in the Czech Republic. A case study of a Czech social entrepreneur will be introduced based on qualitative research, namely the biographical narrative method.Social enterprises can support activities of various target groups, such as economic activities of mentally and physically handicapped people, which often operate in economically and socially marginalized situations, including stereotyped images. They give them a chance to become active members of society. In this way they can help to reduce the poverty on a local level. The aim of this paper is to introduce a social entrepreneurship as important part of social economy development in the Czech Republic.

The Economy of a Regional Metropolis. Case-Study: Iasi, Romania

Directory of Open Access Journals (Sweden)

Claudia POPESCU

2011-06-01

Full Text Available The city of Iaşi with a population of over 300,000 people is the biggest European Union city at the border with the former-Soviet space. The article, part of an extended study on territorial development of Iaşi and its peri-urban area, focuses on the role of the city to trigger regional growth and to enhance cross border cooperation. Recent processes at work generating economic cohesion and integration are explored drawing on the catalytic factors of development and the specialization of local economies. The paper discusses also the externalities of urban growth such as the urban sprawl that causes land use conflicts at the rural-urban fringe. It argues that human capital and higher birth rates than the national average are the strengths, and low connectivity and accessibility are the weaknesses for regional growth. The regional polarization of the city is based on the supply of high level services over the entire North-East Region and opportunities to cross border cooperation through the expansion of an agro-alimentary supply-chain are highlighted. Building on the main capabilities and assets of the agglomeration economies of Iaşi, the paper finally identifies some of the mechanisms and structures that foster urban and regional growth.

Alternative Monetary Policy Rules in a Small Open Economy with Financial Frictions: The Case of Korea

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Yongseung Jung

2011-09-01

Full Text Available This paper first shows an empirical result of VAR that Korean economy has experienced a severe economic contraction to an exogenous country spread shock. To analyze the effect of alternative monetary policy on the economy, the paper sets up a multi-sector small open economy new Keynesian (NK hereafter model with financial frictions due to asymmetric information between firms and financial intermediaries along the line of Bernanke et al. (1999. It shows that the small economy with financial frictions is more vulnerable to the exogenous shocks such as the foreign exchange rate shock under the fixed exchange rate regime than under the flexible exchange regime. It also shows that the interest rate rule that responds to financial market conditions is better than any other interest rate rules only if it does not react to the exchange rate fluctuations. Moreover, an interest rate rule that responds to the exchange rate fluctuations, i.e. the monetary policy under the managed floating exchange rate regime is inferior to the monetary policy rules that do not respond to the exchange rate fluctuations. Finally, it shows that the monetary authority needs to stabilize a narrow price index such as domestic price index rather than a general price index such as consumer price index under the financial friction circumstances.

Digital Economy for Sustainable Economic Growth

Directory of Open Access Journals (Sweden)

Shuyong Guo

2017-12-01

Full Text Available Recent decades have seen a rapid digital transformation resulting in important and sometimes even crucial changes in business, society and the global economy. After the global crisis of 2008–2009, digital industries have been among the most dynamic and promising in the global economy. Nevertheless, the world lacks equilibrium between benefits and risks in the digital economy, which explains the need for global governance in this sphere. This article analyzes the role and characteristics of the G20 in the introduction of global governance in the digital economy. The authors review what’s meant by the digital economy and define the key characteristics of this sector, as well as highlight the challenges to international cooperation, analyze the digital strategies of G20 countries, study the G20’s participation in the global governance of the digital economy, analyze the potential for the leaders of China and Russia, and make recommendations concerning the participation of the G20 in the global governance of the digital economy. The authors arrive at the following conclusions. First, society has to govern the digital economy properly in order to eliminate disparities between developed and developing countries, as well as address cyber security and other threats, and promote a higher quality of life for all. Second, the G20 has very limited experience in the governing of the digital economy, but as a leader in terms of soft power, and as an organization with limited membership that includes both countries with a developed digital sector and countries that lag behind, it may play a great role in the digital economy’s global governance. Third, the US has historically been a leader in the IT sector and the digital economy. In recent years, China has sufficiently improved its positions, which allows it to aspire to a higher role in global governance. Russia may also play a greater (though not a leading role, taking into account its experience and

Market structure and competition in the healthcare industry : Results from a transition economy.

Science.gov (United States)

Lábaj, Martin; Silanič, Peter; Weiss, Christoph; Yontcheva, Biliana

2018-02-14

The present paper provides first empirical evidence on the relationship between market size and the number of firms in the healthcare industry for a transition economy. We estimate market-size thresholds required to support different numbers of suppliers (firms) for three occupations in the healthcare industry in a large number of distinct geographic markets in Slovakia, taking into account the spatial interaction between local markets. The empirical analysis is carried out for three time periods (1995, 2001 and 2010) which characterise different stages of the transition process. Our results suggest that the relationship between market size and the number of firms differs both across industries and across periods. In particular, we find that pharmacies, as the only completely liberalised market in our dataset, experience the largest change in competitive behaviour during the transition process. Furthermore, we find evidence for correlation in entry decisions across administrative borders, suggesting that future market analysis should aim to capture these regional effects.

Is bigger better? An empirical analysis of waste management in New South Wales

International Nuclear Information System (INIS)

Carvalho, Pedro; Marques, Rui Cunha; Dollery, Brian

2015-01-01

Highlights: • We search for the most efficient cost structure for NSW household waste services. • We found that larger services are no longer efficient. • We found an optimal size for the range 12,000–20,000 inhabitants. • We found significant economies of output density for household waste collection. • We found economies of scope in joint provision of unsorted and recycling services. - Abstract: Across the world, rising demand for municipal solid waste services has seen an ongoing increase in the costs of providing these services. Moreover, municipal waste services have typically been provided through natural or legal monopolies, where few incentives exist to reduce costs. It is thus vital to examine empirically the cost structure of these services in order to develop effective public policies which can make these services more cost efficient. Accordingly, this paper considers economies of size and economies of output density in the municipal waste collection sector in the New South Wales (NSW) local government system in an effort to identify the optimal size of utilities from the perspective of cost efficiency. Our results show that – as presently constituted – NSW municipal waste services are not efficient in terms of costs, thereby demonstrating that ‘bigger is not better.’ The optimal size of waste utilities is estimated to fall in the range 12,000–20,000 inhabitants. However, significant economies of output density for unsorted (residual) municipal waste collection and recycling waste collection were found, which means it is advantageous to increase the amount of waste collected, but maintaining constant the number of customers and the intervention area

Is bigger better? An empirical analysis of waste management in New South Wales

Energy Technology Data Exchange (ETDEWEB)

Carvalho, Pedro, E-mail: pedrotcc@gmail.com [LAMEMO Laboratory, Department of Civil Engineering, Federal University of Rio de Janeiro, COPPE/UFRJ, Av. Pedro Calmon – Ilha do Fundão, 21941-596 Rio de Janeiro (Brazil); CESUR – Center for Urban and Regional Systems, Instituto Superior Técnico, University of Lisboa, Av. Rovisco Pais, 1049-001 Lisbon (Portugal); Marques, Rui Cunha, E-mail: rui.marques@tecnico.ulisboa.pt [CESUR – Center for Urban and Regional Systems, Instituto Superior Técnico, University of Lisboa, Av. Rovisco Pais, 1049-001 Lisbon (Portugal); Dollery, Brian, E-mail: bdollery@une.edu.au [CLG – Centre for Local Government, University of New England, Armidale, NSW (Australia); Faculty of Economics, Yokohama National University (Japan)

2015-05-15

Highlights: • We search for the most efficient cost structure for NSW household waste services. • We found that larger services are no longer efficient. • We found an optimal size for the range 12,000–20,000 inhabitants. • We found significant economies of output density for household waste collection. • We found economies of scope in joint provision of unsorted and recycling services. - Abstract: Across the world, rising demand for municipal solid waste services has seen an ongoing increase in the costs of providing these services. Moreover, municipal waste services have typically been provided through natural or legal monopolies, where few incentives exist to reduce costs. It is thus vital to examine empirically the cost structure of these services in order to develop effective public policies which can make these services more cost efficient. Accordingly, this paper considers economies of size and economies of output density in the municipal waste collection sector in the New South Wales (NSW) local government system in an effort to identify the optimal size of utilities from the perspective of cost efficiency. Our results show that – as presently constituted – NSW municipal waste services are not efficient in terms of costs, thereby demonstrating that ‘bigger is not better.’ The optimal size of waste utilities is estimated to fall in the range 12,000–20,000 inhabitants. However, significant economies of output density for unsorted (residual) municipal waste collection and recycling waste collection were found, which means it is advantageous to increase the amount of waste collected, but maintaining constant the number of customers and the intervention area.

Youth and the New Economy=Les jeunes et la nouvelle economie.

Science.gov (United States)

Community Perspectives Series, 2002

2002-01-01

This Community Perspective Series document includes statements about young people in the new economy of Toronto made by three participants in the October 2000 annual general meeting of the Toronto Training Board. "A Hitchhiker's Guide to the New Economy" (Olivia Chow) suggests that training programs available to young people are…

Are transition economy workers underpaid?

OpenAIRE

Adamchik, Vera A.; Brada, Josef C.; King, Arthur E.

2009-01-01

We examine the extent to which workers in transition and developed market economies are able to obtain wages that fully reflect their skills and labor force characteristics. We find that workers in two transition economies, the Czech Republic and Poland, are able to better attain the maximum wage available than are workers in a sample of developed market economies. This greater wage-setting efficiency in the transition economies ap-pears to be more the result of social and demographic charact...

Child Care and the New Economy: Part I--Three Pillars of the New Economy

Science.gov (United States)

Neugebauer, Roger

2009-01-01

Late in 2008, when it was becoming apparent that the economic downturn was not a simple blip but a serious recession, Warren Buffet confidently predicted that the American economy would bounce back and be as strong as ever. However, he observed, "the economy that emerges will not be the same economy that entered the downturn." Since then, one…

Institutional Distance and International Business Strategies in Emerging Economies

DEFF Research Database (Denmark)

Ionascu, Delia Simona; Meyer, Klaus E.; Estrin, Saul

2004-01-01

The concept of `distance' has been used by international business scholars to explain variations in international business strategies and operations across countries. The more distant a host country is from the organizational centre of a multinational enterprise (MNE), the more it has to manage...... for the investing MNE. Using a unique dataset of foreign direct investment in emerging economies that incorporates multi-host as well as multi-home countries, we find empirical support for our propositions, and provide an explanation for apparently inconsistent results in the previous literature....... on Hofstede's work on culture. However, these measures capture only very partially the dimensions of distance of concern to international business. In this paper, we show how the broader theoretical concept of institutional distance, which incorporates normative, regulatory and cognitive aspects, affects...

Running for exercise mitigates age-related deterioration of walking economy.

Directory of Open Access Journals (Sweden)

Justus D Ortega

Full Text Available Impaired walking performance is a key predictor of morbidity among older adults. A distinctive characteristic of impaired walking performance among older adults is a greater metabolic cost (worse economy compared to young adults. However, older adults who consistently run have been shown to retain a similar running economy as young runners. Unfortunately, those running studies did not measure the metabolic cost of walking. Thus, it is unclear if running exercise can prevent the deterioration of walking economy.To determine if and how regular walking vs. running exercise affects the economy of locomotion in older adults.15 older adults (69 ± 3 years who walk ≥ 30 min, 3x/week for exercise, "walkers" and 15 older adults (69 ± 5 years who run ≥ 30 min, 3x/week, "runners" walked on a force-instrumented treadmill at three speeds (0.75, 1.25, and 1.75 m/s. We determined walking economy using expired gas analysis and walking mechanics via ground reaction forces during the last 2 minutes of each 5 minute trial. We compared walking economy between the two groups and to non-aerobically trained young and older adults from a prior study.Older runners had a 7-10% better walking economy than older walkers over the range of speeds tested (p = .016 and had walking economy similar to young sedentary adults over a similar range of speeds (p =  .237. We found no substantial biomechanical differences between older walkers and runners. In contrast to older runners, older walkers had similar walking economy as older sedentary adults (p =  .461 and ∼ 26% worse walking economy than young adults (p<.0001.Running mitigates the age-related deterioration of walking economy whereas walking for exercise appears to have minimal effect on the age-related deterioration in walking economy.

Macroeconomics in an open economy.

Science.gov (United States)

Cooper, R N

1986-09-12

The customary treatment of national economies as closed and self-contained must be substantially modified to allow for those economies that typically trade goods, services, and securities with other countries in increasing volume. Open economy macroeconomics is essential to understanding the major events of the U.S. economy over the past half dozen years. Both the sharp rise in the dollar and the unprecedentedly large U.S. trade deficit are linked to the U.S. budget deficit, as is the drop in the rate of inflation.

Measuring flood footprint of a regional economy - A case study for the UK flooding

Science.gov (United States)

Guan, D.

2013-12-01

Analysis of the urban economy and society is central to understanding the broad impacts of flooding and to identify cost-effective adaptation and mitigation measures. Assessments of the flooding impacts on cities have traditionally focused on the initial impact on people and assets. These initial estimates (so-called ';direct damage') are useful both in understanding the immediate implications of damage, and in marshalling the pools of capital and supplies required for re-building after an event. Since different economies as well as societies are coupled, especially under the current economic crisis, any small-scale damage may be multiplied and cascaded throughout wider economic systems and social networks. The direct and indirect damage is currently not evaluated well and could be captured by quantification of what we call the flood footprint. Flooding in one location can impact the whole UK economy. Neglecting these knock-on costs (i.e. the true footprint of the flood) means we might be ignoring the economic benefits and beneficiaries of flood risk management interventions. In 2007, for example, floods cost the economy about £3.2 bn directly, but the wider effect might actually add another 50% to 250% to that. Flood footprint is a measure of the exclusive total socioeconomic impact that is directly and indirectly caused by a flood event to the flooding region and wider economic systems and social networks. We adopt the UK 2012 flooding. An input-output basic dynamic inequalities (BDI) model is used to assess the impact of the floodings on the level of a Yorkshire economy, accounting for interactions between industries through demand and supply of intermediate consumption goods with a circular flow. After the disaster the economy will be unbalanced. The recovery process finishes when the economy is completely balance, i.e., when labour production capacity equals demands and production and all the variables reach pre-disaster levels. The analysis is carried out

The Political Economy of Interlibrary Organizations: Two Case Studies.

Science.gov (United States)

Townley, Charles T.

J. Kenneth Benson's political economy model for interlibrary cooperation identifies linkages and describes interactions between the environment, the interlibrary organization, and member libraries. A tentative general model for interlibrary organizations based on the Benson model was developed, and the fit of this adjusted model to the realities…

EMERGING ECONOMIES: COMPARATIVE ANALYSIS OF MIST AND IBSA COUNTRIES

Directory of Open Access Journals (Sweden)

Gonca Oguz Gok

2016-04-01

Full Text Available Post Second World War liberal economic order and its institutions have been challenged with the rapidly growing powerful economies of some Asian and Latin American countries in the last decade. Yet, there is ambiguity in international political economy field with regard to conceptualizing and categorizing these emerging economies. This study mainly aims to ravel out this obstacle by offering a new quantitative benchmarking framework. In other words, this study proposes a new evaluation criteria set for assessing emerging economies with combining testable domestic and systematic factors. Accordingly, this study presents the cross-country comparison by using quantitative benchmarking analysis between IBSA -India, Brazil and South Africa- and MIST -Mexico, Indonesia, South Korea and Turkey- countries over the period 2008- 2012. We compare these countries based on the criteria of economic growth, human development index, foreign direct investment, and official development assistance. This study also aims to evaluate the group performance of these newly emerging economies- namely the rise of IBSA and MIST countries-in a comparative perspective. In conclusion, the performance of these countries -from both group-of-country and individual-country perspectives- are discussed in light of the results

A Carrier Bag Story of (waste) food, hens and the sharing economy

DEFF Research Database (Denmark)

Fjalland, Emmy Laura Perez

2018-01-01

futures by showing the collaborative, compassionate, responsible qualities of the sharing economy of the exchange of waste food. With the help from The Carrier Bag Theory – an alternative, feminist narrative – and the mobilities paradigm, this article shows the transformative gestures of ethical......, ecologies and different waste, recycling and/or upcycling systems. Within these disposal systems, valuable resources are being lost. Based on empirical work from a Danish project called Sharing City and a local small-scale organic farm (named Hegnsholt), this article elaborates upon how particular waste......, this article ought to inspire us to rethink how to share this planet with earth-others....

Complex decision-making: initial results of an empirical study

OpenAIRE

Pier Luigi Baldi

2011-01-01

A brief survey of key literature on emotions and decision-making introduces an empirical study of a group of university students exploring the effects of decision-making complexity on error risk. The results clearly show that decision-making under stress in the experimental group produces significantly more errors than in the stress-free control group.

Green economy and related concepts

NARCIS (Netherlands)

Loiseau, Eleonore; Saikku, Laura; Antikainen, Riina; Droste, Nils; Hansjürgens, Bernd; Pitkänen, Kati; Leskinen, Pekka; Kuikman, Peter; Thomsen, Marianne

2016-01-01

For the last ten years, the notion of a green economy has become increasingly attractive to policy makers. However, green economy covers a lot of diverse concepts and its links with sustainability are not always clear. In this article, we focus on definitions of green economy and related concepts

Knowledge Economy and Research Innovation

Science.gov (United States)

Bastalich, Wendy

2010-01-01

The "knowledge economy" has been received with considerable scepticism by scholars within the fields of political economy, social and political philosophy, and higher education. Key arguments within this literature are reviewed in this article to suggest that, despite policy claims, "knowledge economy" does not describe a "new" mode of economic…

Interface between marketing, policy and development in emerging economies. An exploratory study and evaluation

Directory of Open Access Journals (Sweden)

Rodney Oudan

2017-11-01

Full Text Available This paper explores the role of marketing, policy, and development for emerging economies moving toward a market-driven economic environment. A historical review provides a foundation, then deductive analyses from theoretical reviews and transcripts reveal that such marketing is still in the developmental stages and has become necessary for the future direction of these economies. Following the findings, the paper provides managerial marketing implications and highlights how a market orientation and market-driven approach is necessary for the greater social good in a global economy.

The Competitive Potential of the Belorussian Economy

OpenAIRE

Migranyan, A.

2014-01-01

The article is an attempt to study the factors of the competitive capacity of Belorussian economy. There are two groups of factors of competitive potential and competitive advantages' formation: internal (changes in resource allocation) and external factors (adaptation to external shocks). The study found that the main source of the increase of competitive capacity of the Belorussian economy were foreign. The competitive potential of Belarus was formed on the basis of the increased exports. H...

A hydrogen economy: opportunities and challenges

International Nuclear Information System (INIS)

Tseng, P.; Lee, J.; Friley, P.

2005-01-01

A hydrogen economy, the long-term goal of many nations, can potentially confer energy security, along with environmental and economic benefits. However, the transition from a conventional petroleum-based energy system to a hydrogen economy involves many uncertainties, such as the development of efficient fuel-cell technologies, problems in hydrogen production and its distribution infrastructure, and the response of petroleum markets. This study uses the US MARKAL model to simulate the impacts of hydrogen technologies on the US energy system and to identify potential impediments to a successful transition. Preliminary findings highlight possible market barriers facing the hydrogen economy, as well as opportunities in new R and D and product markets for bioproducts. Quantitative analysis also offers insights on policy options for promoting hydrogen technologies. (author)

Collaborative Economy and Tourism

DEFF Research Database (Denmark)

Dredge, Dianne; Gyimóthy, Szilvia

2017-01-01

The digital collaborative economy is one of the most fascinating developments to have claimed our attention in the last decade. Not only does it defy clear definition, but its historical links back to non-monetised sharing and gift economies and its contemporary foundations in monetising idling...... or spare capacity make it difficult to theorise. In this chapter, we lay the foundation for a social science approach to the exploration of the collaborative economy and its relationship with tourism. We argue that “collaborative” and “economy” should be conceptualised in a broad and inclusive manner...... in order to avoid narrow theorisations and blinkered accounts that focus only on digitally-mediated, monetised transactions. A balance between individual and collective dimensions of the collaborative economy is also necessary if we are to understand its societal implications....

Analysis of economy characteristics and improvement ways for China nuclear power

International Nuclear Information System (INIS)

Li Yong

2010-01-01

For the nuclear power industry, due to characteristics of its own, its economy is quite different from that of the traditional fossil-fuel power. This paper studied the basic characteristics of the nuclear power economy and the status of economy of domestic nuclear power, and analyzed the main ways to improve the nuclear power economy. (authors)

Pattern of Foreign Direct Investment in Developing Economies

DEFF Research Database (Denmark)

Patibandla, Murali

2004-01-01

Qualitative information and data show significant differences in the magnitude and type of foreigndirect investment inflows among developing economies. Explanation of the differences requiresanalysis of market institutional factors as well as the supply and demand side conditions. This paperadopts...... the approach that different configurations of supply, demand and market institutional factorsexplain the type of investment flows into developing economies. The argument is illustrated througha comparative study of China and India.Key Words: Developing Economies; Foreign Direct Investment; China, and India...

An Empirical Study about China: Gender Equity in Science Education.

Science.gov (United States)

Wang, Jianjun; Staver, John R.

A data base representing a random sample of more than 10,000 grade 9 students in an SISS (Second IEA Science Study) Extended Study (SES), a key project supported by the China State Commission of Education in the late 1980s, was employed in this study to investigate gender equity in student science achievement in China. This empirical data analysis…

Empirical evidence of design-related bias in studies of diagnostic tests

NARCIS (Netherlands)

Lijmer, J. G.; Mol, B. W.; Heisterkamp, S.; Bonsel, G. J.; Prins, M. H.; van der Meulen, J. H.; Bossuyt, P. M.

1999-01-01

CONTEXT: The literature contains a large number of potential biases in the evaluation of diagnostic tests. Strict application of appropriate methodological criteria would invalidate the clinical application of most study results. OBJECTIVE: To empirically determine the quantitative effect of study

Creative Economy as Applied to Information Technology (IT Companies

Directory of Open Access Journals (Sweden)

Leonardo Fabris Lugoboni

2014-06-01

Full Text Available This research addresses creative economy, wherein creative industries are deemed amongst the economy's most dynamic sectors and are characterized as being those that highly prize intellectual capital, invest in technology and innovation. Collectively, these in turn offer individuals, businesses and cities opportunities to generate economic growth and development. The study herein presented sought to examine the application of creative economy at information technology companies. To this effect, IT professionals and others who work at large technology companies were interviewed so as to identify creative economy characteristics at companies comprised by this specific economic sector. Findings enabled the conclusion that creative economy is effectively present in IT companies´ day-to-day routines since the former is reportedly a sector that features a high degree of both dynamism and constant change, whereby creative economy characteristics help companies innovate whilst simultaneously hallmarks as being extremely demanding.

The underground economy in Romania

Directory of Open Access Journals (Sweden)

Adriana Veronica LITRA

2016-07-01

Full Text Available The paper aims at covering issues related to the underground economy, activities that compound this phenomenon, its magnitude in Romania and reported to the European average. Underground economy in Romania consists of undeclared work (2/3 from the total and unreported income; it decreased from 33.6% of GDP in 2003 to 28% in 2014, but remained over EU-28 average with about 10 p.p. Among EU-28 countries, only Bulgaria exceeds the size of the underground economy of Romania. The underground economy is a challenge for the leadership of the state which must act simultaneously to stop illegal activities, and to discourage non-declaration of the legal activities. Corruption favours maintaining the underground economy, delays economic development, obstructs democratic processes and affects justice and the law state.

Complex decision-making: initial results of an empirical study

Directory of Open Access Journals (Sweden)

Pier Luigi Baldi

2011-09-01

Full Text Available A brief survey of key literature on emotions and decision-making introduces an empirical study of a group of university students exploring the effects of decision-making complexity on error risk. The results clearly show that decision-making under stress in the experimental group produces significantly more errors than in the stress-free control group.

Popular Education in Solidarity Economy

Science.gov (United States)

de Melo Neto, José Francisco; da Costa, Francisco Xavier Pereira

2015-01-01

This article seeks to show the relation between popular education and solidarity economy in experiences of solidarity economy enterprises in Brazil. It is based on diverse experiences which have occurred in various sectors of this economy, highlighting those experiences which took place in João Pessoa with the creation of a Cooperative of Workers…

Decoupling among CSR policies, programs, and impacts : An empirical study

NARCIS (Netherlands)

Graafland, Johan; Smid, Hugo

2016-01-01

There are relatively few empirical studies on the impacts of corporate social responsibility (CSR) policies and programs. This article addresses the research gap by analyzing the incidence of, and the conditions that affect, decoupling (defined as divergence) among CSR policies, implementation of

Running for exercise mitigates age-related deterioration of walking economy.

Science.gov (United States)

Ortega, Justus D; Beck, Owen N; Roby, Jaclyn M; Turney, Aria L; Kram, Rodger

2014-01-01

Impaired walking performance is a key predictor of morbidity among older adults. A distinctive characteristic of impaired walking performance among older adults is a greater metabolic cost (worse economy) compared to young adults. However, older adults who consistently run have been shown to retain a similar running economy as young runners. Unfortunately, those running studies did not measure the metabolic cost of walking. Thus, it is unclear if running exercise can prevent the deterioration of walking economy. To determine if and how regular walking vs. running exercise affects the economy of locomotion in older adults. 15 older adults (69 ± 3 years) who walk ≥ 30 min, 3x/week for exercise, "walkers" and 15 older adults (69 ± 5 years) who run ≥ 30 min, 3x/week, "runners" walked on a force-instrumented treadmill at three speeds (0.75, 1.25, and 1.75 m/s). We determined walking economy using expired gas analysis and walking mechanics via ground reaction forces during the last 2 minutes of each 5 minute trial. We compared walking economy between the two groups and to non-aerobically trained young and older adults from a prior study. Older runners had a 7-10% better walking economy than older walkers over the range of speeds tested (p = .016) and had walking economy similar to young sedentary adults over a similar range of speeds (p =  .237). We found no substantial biomechanical differences between older walkers and runners. In contrast to older runners, older walkers had similar walking economy as older sedentary adults (p =  .461) and ∼ 26% worse walking economy than young adults (peconomy whereas walking for exercise appears to have minimal effect on the age-related deterioration in walking economy.

Human trafficking: fighting the illicit economy with the legitimate economy

OpenAIRE

Shelley, Louise; Bain, Christina

2015-01-01

Since the beginning of research on human trafficking, there has been attention paid to the challenges surrounding the illicit economy. In creating new strategies and initiatives on combatting human trafficking, there needs to be more discussion surrounding the legitimate economy and how the business sector can make an impact in the fight against trafficking. Currently, there is a growing movement of businesses that are looking to address human trafficking through training, education, and lead...

Competitiveness of chinese socialist market economy

Directory of Open Access Journals (Sweden)

Henry Ernesto Turner Barragán

2015-08-01

Full Text Available The article analyzes the dynamics held by the Chinese economy becomes, since it happened to be a communist to a capitalist economy and social market economy. Being in the latter, in which the country achieved high rates of economic growth, and improve their competitiveness pillars, generating higher growth prospects in the economy and the income of the society.

Doing Business Economy Profile 2017 : Australia

OpenAIRE

World Bank Group

2016-01-01

This economy profile presents the Doing Business indicators for Australia. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. Doing Business 2017 is the 14th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing...

Doing Business Economy Profile 2017 : Uruguay

OpenAIRE

World Bank Group

2016-01-01

This economy profile presents the Doing Business indicators for Uruguay. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. Doing Business 2017 is the 14th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing b...

Exploring the Sharing Economy

DEFF Research Database (Denmark)

Netter, Sarah

Despite the growing interest on the part of proponents and opponents - ranging from business, civil society, media, to policy-makers alike - there is still limited knowledge about the working mechanisms of the sharing economy. The thesis is dedicated to explore this understudied phenomenon...... and to provide a more nuanced understanding of the micro- and macro-level tensions that characterize the sharing economy. This thesis consists of four research papers, each using different literature, methodology, and data sets. The first paper investigates how the sharing economy is diffused and is ‘talked......-level tensions experience by sharing platforms by looking at the case of mobile fashion reselling and swapping markets. The final paper combines the perspectives of different sharing economy stakeholders and outlines some of the micro and macro tensions arising in and influencing the organization of these multi...

Investigating the Failure of State Owned Enterprises (SOEs of an Emerging Economy: A Comparative Case Study

Directory of Open Access Journals (Sweden)

Rajib Salah Uddin

2016-08-01

Full Text Available This study investigates the failure and aftermath of state owned enterprises (SOEs of an emerging economy, Bangladesh. Failure of SOEs of emerging economy has been investigated by many researchers during the last few decades. This study is an extension of previous research. Through the comparative case study, this study tries to explore the scenario of failure of SOEs, the causal factors of failure, remedial actions and aftermath in SOEs. The findings indicate that different authorities from the policy maker to the operating level employees cannot avoid the responsibilities for failure. Even proper restructuring within the ownership of government can drive the firm positively. It is expected that the comparative case study will help to make the decision for the concerned authorities of Bangladesh as well as the authorities of other countries of the world who are in the same position.

Changing role of non-timber forest products (NTFP) in rural household economy: the case of Sinharaja World Heritage site in Sri Lanka.

Science.gov (United States)

Senaratne, Athula; Abeygunawardena, Piyasena; Jayatilake, Wijaya

2003-11-01

This paper examines the modified patterns of utilizing non-timber forest products (NTFP) and associated behavioral changes around tropical forest areas in the context of conservation-related objectives and other commercially driven objectives. Our study introduces a conceptual framework based on the household production theory and tests empirically the hypotheses drawn at Sinharaja World Heritage in Sri Lanka. The results show that conditions introduced by forest conservation programs and the spread of small-scale commercial tea cultivation are transforming the economy around Sinharaja. The process is an economically rational one where resident communities decide upon their actions based on the opportunity cost of time involved with NTFP in the absence of observable prices. Although the process, overall, has led to a decline in the role of NTFP in the household economy, its impact over different NTFP are not uniform, leaving sustained demand for certain NTFP. This situation calls for a multifaceted approach in forest management programs to address the various household needs fulfilled by NTFP-based activities.

Factors of economic growth in Palestine: an empirical Analysis during the period of (1994-2013

Directory of Open Access Journals (Sweden)

Omar Mahmoud Abu-Eideh

2014-07-01

Full Text Available This study aimed to analyze the impact of the size of domestic working labour force, real gross domestic capital formation, real domestic exports and imports of goods and services, and political instability on real gross domestic product( RGDP in Palestine during the period of 1994 -2013. To examine the empirical relationship between these explanatory variables and real (GDP growth the study adopted a standardized Cobb- Douglas production function by using the annual official data of the Palestinian Central Bureau of Statistics (PCBS, and applying the Ordinary least Square method (OLS and Second Order Auto Correlation Techniques. The empirical results of the model applied indicated that there is a positive relationship between the size of domestic working labour force, real gross domestic capital formation, real domestic exports and real gross domestic product( RGDP, and a negative relationship between real domestic imports of goods and services, and political instability and the real growth of (GDP. The study suggested several recommendations that can boost the level of growth, among them the most important one, is the urgent need for more investment in the economy as it leads to more formation of domestic capital which can count more in terms of economic growth in many ways.

Understanding the New Economy.

Science.gov (United States)

Morrell, Louis R.

2001-01-01

Asserts that while the Nasdaq bubble did burst, the new economy is real and that failure to understand the rules of the digital economy can lead to substandard investment portfolio performance. Offers guidelines for higher education institutional investors. (EV)

Corporate social responsibility and firm value: an empirical study of an emerging economy

Directory of Open Access Journals (Sweden)

Hassan M. Hafez

2016-12-01

Full Text Available A lot of researches have been done recently on Corporate Social Responsibliity ("CSR". A lot of studies have been conducted to test how CSR affects firm value and financial perfromance. Results varies from one study to another. Some proved that the realtionship is to be positve, or negative and others proved it to be neutral. The purpose of this research is to evaluate the effect of CSR on firm value and financial performance in Egypt through the application on 33 companies that were listed in the EGX30 in the year 2001, with a timeline of 8 years from 2007 till 2014. Data used in this study is secondary data obtained from the financial statements and annual reports of the egyptian companies and offical online websites. We proved that CSR has a insignifcant negative effect on firm value and a signifcant positive effect on firm’ financial perfromance in Egypt measured by Return on Assets (ROA and Return on equity (ROE. This research paper is divided into five sections. Section one is the introduction followed by section two the literature review of CSR and its impact on firm value and financial performance. Section three covers the research methodology; section four presents data analysis and finally section five report findings and conclusions of the study.

Impact of Unbalanced Development of Economy on Financial Sector Stability

Directory of Open Access Journals (Sweden)

Kozlov Vladislav I.

2013-11-01

Full Text Available The article is devoted to the study of c connection between the stability of development of the financial sector and its share in the aggregate volume of production. The article conducts a comparative study of the countries that suffered the large-scale financial and economic crisis in 2007 (USA and Great Britain and countries economies of which turned out to be more stable (Czech Republic, Poland and Finland. In the course of the study the article marks out indicators that allow characterisation of the degree of balancing of economic development. The developed approach is applied for analysis of the Ukrainian economy in the pre-crisis period. Results of the study allow assertion that excessive growth of the financial sector increases the risk of realisation of financial and economic crises independent on the level of economic development of a country. The article develops an approach to assessment of the role of the financial sector in economy. It underlines important aspects of its application for analysing economies of developing countries. The article leaves a vast expanse for further studies and focuses on importance of monitoring of the state and development of the financial sector with consideration of the direction and rates of development of other sectors of economy. The obtained results justify the necessity of use of indicators that characterise structure of the national economy by financial sector control bodies.

A REVIEW OF STUDIES OF ECONOMIES IN SCHOOLHOUSE CONSTRUCTION.

Science.gov (United States)

DOHERTY, LEO D.; WHEATLEY, ARTRELLE

ECONOMIES IN PLANNING AND DESIGNING BEGIN WITH THE WISE CHOICE OF AN ARCHITECT. COMPLETE INFORMATION ON BUILDING NEEDS, ENROLLMENT PROJECTIONS, AND PROGRAM MUST BE AVAILABLE. INCLUSION OF MULTIPLE-USE ROOMS, MINIMAL PERIMETER WALLS, LOWERED CEILINGS, MINIMAL WASTE SPACE, MINIMAL USE OF GLASS, AND USE OF STOCK PLANS ARE CONCEPTS WHICH CAN EFFECT…

Empirical Philosophy of Science

DEFF Research Database (Denmark)

Mansnerus, Erika; Wagenknecht, Susann

2015-01-01

knowledge takes place through the integration of the empirical or historical research into the philosophical studies, as Chang, Nersessian, Thagard and Schickore argue in their work. Building upon their contributions we will develop a blueprint for an Empirical Philosophy of Science that draws upon...... qualitative methods from the social sciences in order to advance our philosophical understanding of science in practice. We will regard the relationship between philosophical conceptualization and empirical data as an iterative dialogue between theory and data, which is guided by a particular ‘feeling with......Empirical insights are proven fruitful for the advancement of Philosophy of Science, but the integration of philosophical concepts and empirical data poses considerable methodological challenges. Debates in Integrated History and Philosophy of Science suggest that the advancement of philosophical...

The Political Economy of Extraterritoriality

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Paul B. Stephan

2013-06-01

Full Text Available Near the end of the 2009 Term the Supreme Court decided Morrison v. Australia National Bank, Ltd., the strongest anti-extraterritoriality opinion it has produced in modern times. Not only is Congress presumed generally to prefer only territorial regulation, but lower courts that had carved out exceptions from this principle over a long period of time must now revisit their positions. Again this year in Kiobel v. Royal Dutch Shell Co. the Court relied on an aggressive use of the presumption against extraterritoriality to cut back on an important field of private litigation. The Court appears to have embraced two related stances: The imposition of barriers to extraterritorial regulation generally advances welfare, and the lower courts cannot be trusted to determine those instances where an exception to this rule might be justified. Implicit in the Court's position are intuitions about the political economy of both legislation and litigation. I want to use the occasion of the Morrison and Kiobel decisions to consider the political economy of extraterritorial regulation by the United States. International lawyers for the most part have analyzed state decisions to exercise prescriptive jurisdiction over extraterritorial transactions in terms of a welfare calculus that determines the likely costs and benefits to the state as a whole. Fewer studies have considered the political economy of the decision whether to regulate foreign transactions. No work of which I am aware has considered the political economy of deciding the extraterritorial question through litigation. This paper seeks to fill these gaps by sketching out what political economy suggests both about extraterritoriality and the role of courts as arbiters of extraterritoriality.

Introducing Opportunity-based Entrepreneurship in a Transition Economy

DEFF Research Database (Denmark)

Perunovic, Zoran

2005-01-01

This paper confronts necessity-based and opportunity-based entrepreneurial concepts in the transition of developing economies. The author constructs a research model and conducts field research (using Serbia as a case study) to explore how different personal and regional characteristics can favour......-up strategy for transition and developing economies....

Tackling the Urban Informal Economy: Some Lessons from a Study of Europe’s Urban Population

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Colin C. WILLIAMS

2017-06-01

Full Text Available The aim of this paper is to evaluate themost effective way of tackling the urban informaleconomy. It has been recently argued that theconventional rational economic actor approach(which increases the costs of participating in theurban informal economy so that they outweighthe benefi ts should be replaced or complementedby a social actor approach which focusesupon improving tax morale. To evaluate the effectivenessof these supposedly alternative approachesto tackling the participation of urbanpopulations in the informal economy, we reportthe results of face-to-face interviews conductedin 2013 with 17,886 urban dwellers across the 28Member States of the EU. Multilevel logistic regressionanalysis reveals that both approachesare effective in signifi cantly reducing the urbanpopulation’s participation in the informal economy.When tax morale is high, however, the rationaleconomic actor approach of increasing thecosts has little impact on reducing the probabilityof engagement in the informal economy. The paperconcludes by calling for greater emphasis onimproving the tax morale of the urban populationso as to tackle the informal economy in the urbanareas of Europe and beyond.

The Twin Deficits Hypothesis: An Empirical Analysis for Tanzania

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Manamba Epaphra

2017-09-01

Full Text Available This paper examines the relationship between current account and government budget deficits in Tanzania. The paper tests the validity of the twin deficits hypothesis, using annual time series data for the 1966-2015 period. The paper is thought to be significant because the concept of the twin deficit hypothesis is fraught with controversy. Some researches support the hypothesis that there is a positive relationship between current account deficits and fiscal deficits in the economy while others do not. In this paper, the empirical tests fail to reject the twin deficits hypothesis, indicating that rising budget deficits put more strain on the current account deficits in Tanzania. Specifically, the Vector Error Correction Model results support the conventional theory of a positive relationship between fiscal and external balances, with a relatively high speed of adjustment toward the equilibrium position. This evidence is consistent with a small open economy. To address the problem that may result from this kind of relationship, appropriate policy variables for reducing budget deficits such as reduction in non-development expenditure, enhancement of domestic revenue collection and actively fight corruption and tax evasion should be adopted. The government should also target export oriented firms and encourage an import substitution industry by creating favorable business environments.

An Empirical Study of Audit Expectation Gap in Hungary

OpenAIRE

Judit Füredi-Fülöp

2015-01-01

The audit expectation gap has preoccupied the finance and accounting profession for a long time. Considerable research has been conducted into this issue and attempts have been made to provide an accurate definition of the audit expectation gap, model this concept and assess the possibilities of its narrowing. Also, a number of studies investigate whether there is an audit expectation gap in several researched regions. The objectives of empirical studies on the structure and nature of the aud...

SUSTAINABLE GROWTH: RECENT TRENDS ACROSS CENTRAL AND EASTERN EUROPEAN ECONOMIES

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Mihut Ioana

2014-07-01

Full Text Available What is economic growth? Although the answer to this question may seems of real simplicity, developing an accurate definition of this concept may constitute a real challenge both from a theoretical but also empirical point of view. This constant debate upon the concept of economic growth as well as indentifying the optimum set of instruments for quantifying it, constituted the starting point of the current article. The concept of economic growth is used nowadays complementary to terms like economic development, economic welfare or economic progress with reference to this complex process that implies macro-scale structures. Moreover indentifying the main factors that generate a significant impact upon the dynamics of the economic growth process, constitute a useful approach taking into consideration the high degree of heterogeneity that characterize the architecture of the economies around the world. If we develop this analysis across the European Union member states this debate became even more challenging due to the high degree of diversity that characterize these economies. Moreover, the Central and Eastern European countries and especially the ones that joined EU in 2004 and 2007 embody a set of particularities that make them extremely different from the rest of the European Union member states, features related to the historical background, economic policies and common efforts to intensify the convergence process with the more developed EU members. This paper studies the impact of two main factors upon the economic growth process namely an endogenous-exogenous factor like the degree of openness and an endogenous factor like the human capital using a complex dynamic panel method. The arguments that were in favour of choosing this two factors are on one hand the multitude of theoretical studies that argued the importance of them in modelling the economic growth process and on the other hand the small number of studies that use panel methods in

Climate change, income and happiness: An empirical study for Barcelona