ARTICLE | doi:10.20944/preprints202104.0491.v1
Subject: Business, Economics And Management, Economics Keywords: Productive capacities; Economic growth; Economic growth volatility; Structural Economic Vulnerability.
Online: 19 April 2021 (13:30:15 CEST)
Recent years' global shocks (e.g., the 2008 financial crisis and the COVID-19 pandemic) and environmental shocks - such as natural disasters - have heightened the vulnerability of developing countries to future shocks, and can compromise their development prospects. International institutions and researchers have advocated that the strengthening of productive capacities in these countries would help them enhance the resilience of their economies to shocks, and promote sustainable development. The present paper has examined the effect of productive capacities on economic growth and economic growth volatility in developing countries, in particular when they face a high level of structural economic vulnerability. The analysis covers 117 developing countries over the period 2000-2018. It shows that productive capacities do not only promote economic growth, but also reduce economic growth volatility. On the other hand, structural economic vulnerability reduces economic growth, in particular when it exceeds a certain level, and induces greater volatility of economic growth. Interestingly, the findings suggest that productive capacities promote economic growth and reduce economic growth volatility in countries that face a high degree of structural economic vulnerability. These findings support the recommendation by international institutions and researchers that if they were to enhance the resilience of their economies to shocks, and promote sustainable economic growth, developing countries (in particular the poorest ones) should strengthen their productive capacities.
ARTICLE | doi:10.20944/preprints201810.0744.v1
Subject: Business, Economics And Management, Economics Keywords: Sustainable economic policy; sustainable economic growth; economic policies; technology.
Online: 31 October 2018 (09:12:00 CET)
The purpose of this paper is to explore the extent to which traditional economic policies can be oriented by sound practices. It is becoming widely accepted that sustainable economic growth (and not only economic growth) is the final target of economic policies; but most economic policies are applied just looking to the short-run without taking in account the long-run perspective. Our aim will be to show how a sustainable economic policy-making would be possible, making compatible the stabilization of the economy in the short-run with a sustainable economic growth in the long-run. We confront the design of economic policies with the 17 goals of the 2030 Agenda. We argue that all sustainable development goals can be attained by the design and implementation of sustainable economic policies. Finally, to illustrate this point we will conduct a simulation exercise to show under which combinations of demand policies technological shocks would promote a path of sustainable growth. Our results will provide a reference framework for a sustainable economic policy-making.
ARTICLE | doi:10.20944/preprints201703.0161.v1
Subject: Business, Economics And Management, Economics Keywords: Total factor productivity; growth accounting; economic growth; Zambia.
Online: 20 March 2017 (16:03:06 CET)
Most empirical work on sources of economic growth for different countries lack country-specific empirical evidence to guide policy choices in individual developing countries and previous studies of factor productivity tend to focus on the entire economy or a single sector. In this study, we use the recently developed growth accounting tools to explicitly determine the sources of economic growth at both national and sectoral levels in Zambia between 1970 and 2013. We use data from World Development Indicators and Zambia’s Central Statistical Office. On average, total factor productivity (TFP) contributes about 5.7% to economic growth. Sectoral analysis shows that agriculture contributes the least to GDP and that within each sector; factors that contribute to growth differ. Structural transformation has been slow and contributed to the observed inefficiency. We outline the implications of the observed growth and provide recommendations.
ARTICLE | doi:10.20944/preprints201706.0095.v1
Subject: Business, Economics And Management, Finance Keywords: China；economic growth；export market；economic policy； potential drivers
Online: 20 June 2017 (11:18:07 CEST)
The purpose of this paper is to apply China’s economy growth prospects and its potential drivers of future. China's fast rise and its growth model have accelerated important existing structural trends in the global economy and made them decisive characteristics of the world economy. China's role in the world economy over the coming decades, an exercise which would not be possible without an investigation of the prospects for China's continued economic rise. On the one hand, China is a large export market for the United States. A lot of U.S. firms use China as the final destination of assembly in their global supply chain networks. China’s huge holdings of U.S. Treasury securities support the federal government finance its budget failures. However, some analysts contend that China consolidates a number of distortive economic policies such as protectionist industrial policies and an undervalued currency that undermine U.S. economic interests. They warn that efforts by the Chinese government to promote indigenous innovation, often through the use of subsidies and other distortive measures, could negatively affect many leading U.S. industries
ARTICLE | doi:10.20944/preprints201607.0062.v1
Subject: Business, Economics And Management, Economics Keywords: Remittances; Economic Growth; Bangladesh; Remittances Utilisation
Online: 20 July 2016 (10:27:13 CEST)
The paper examines the impact of inward remittances flows on per capita GDP growth in Bangladesh during 1976-2012. We find that the growth effect of remittances is negative at first but becomes positive at a later stage, an evidence of a non-linear. Unproductive use of remittances was rampant in the beginning when they were received by migrant families but better social and economic investments led to more productive utilisation of remittances receipts at later periods. This was the possible mechanism behind the U-shaped relationship. Unlike what is suggested in the literature that the effect of remittances is more pronounced in a less financially developed economy, our evidence do not show that the effect of remittances on per capita GDP growth in Bangladesh is conditional on the level of financial development.
ARTICLE | doi:10.20944/preprints202211.0212.v1
Subject: Business, Economics And Management, Economics Keywords: Environmental Regulations; Economic Structure; Economic Growth; PVAR Model
Online: 11 November 2022 (03:25:10 CET)
The potential effect of implementing environmental regulations on economic growth is a controversial issue for a long time. As portrayed by Porter hypothesis, environmental regulations may impact on economic growth by reconstructing the economic structure. A number of previous literature proved the connections between the above three parties. With the intention of exploring the nature of this mechanism, it is important to understand the internal inter-relation of the three parties, requiring data from a large economy experiencing the transition in economic structure. By constructing a panel containing data from 30 Chinese provinces over 10 years (2008-2019), this paper investigate the dynamic inter-relation of the three parties by introducing PVAR model with Granger Test. Results reveal that environmental regulations give a “U” shaped impact to economic growth. In return, economic growth promotes the development of economy with a weakening strength. In addition, results also support the hypothesis that economic structure is the intermediate of economic growth and environmental regulations. There is a rooftop for the effect of economic structure to environmental regulations. The rooftop may signify the best optimization of primary structure.
ARTICLE | doi:10.20944/preprints201807.0087.v1
Subject: Business, Economics And Management, Economics Keywords: Nigeria; financial development; economic growth; threshold regression; time series
Online: 5 July 2018 (08:39:38 CEST)
The relationship between economic growth, growth volatility and financial sector development continues to attract attention in the theoretical and empirical literature. Over time, some studies hypothesize that finance has a causal linear relationship with growth. Recently several other authors contradict this claim and argue that the relationship that exists between finance and growth is nonlinear. We investigate these claims for Nigeria for the period between 1970 and 2015, using semi-parametric econometric methods, Hansen sample splitting techniques and threshold estimator. We observed no evidence of ‘Too much finance’ as claimed by many researchers in recent times. We show that the relationship between financial development and economic growth is U-shaped. This is equally true for the relationship between financial development and growth volatility. We also discuss policy implications of our findings and recommend financial innovations and decentralization of stock exchanges to boost access to financial services, in addition, improved regulation to enhance financial market efficiency.
ARTICLE | doi:10.20944/preprints201712.0028.v1
Subject: Business, Economics And Management, Economics Keywords: Oil revenue; External debt; Economic growth; ARDL
Online: 4 December 2017 (17:33:46 CET)
Oil revenues and external debt might have stimulated economic growth in the oil exporting countries via investment in capital projects. The paper estimated economic growth on oil revenues and external debt after controlling public investment and population growth over the period 1970-2015. Following the confirmation of the order of integration, our analysis is based on autoregressive distributed lag bound testing to cointegration approach. The key findings are that oil revenues and public investment contributes to Nigeria’s economic growth. However, our findings also indicate that external debt and population growth retards growth. The study suggests that minimizing fiscal deficits and unnecessarily foreign loans by creating tax avenues through the development of the non-oil sectors would reduce the dependency syndrome on a single commodity (oil) in Nigeria.
ARTICLE | doi:10.20944/preprints202009.0384.v1
Subject: Business, Economics And Management, Economics Keywords: health expenditure; economic growth; carbon emissions
Online: 17 September 2020 (07:50:55 CEST)
Researchers’ attention has been turned on Health expenditure, Carbon emissions, and economic growth as they play a focal role in the current debate on environmental protection and sustainable development. Our paper endeavors to investigate the impact of economic growth and CO2 emissions on Health expenditure for two main countries in Asia (China and India) using a dynamic panel data model estimated employing the Generalized Method of Moments (GMM) for the period 1960–2019. Our empirical results show that there is a significant relationship between health expenditure, CO2 emissions, and economic growth. The empirical evidence indicates a significant positive impact of CO2 emissions on health expenditure whiles economic growth has a negative impact on health expenditure for both countries for the period under study. The population growth rate has transposed effect on India's health spending; on the other hand, its impact on China’s health spending is significantly positive. The strong observable correlation between health expenditure and economic growth is crucial for economic development.
ARTICLE | doi:10.20944/preprints201608.0222.v2
Subject: Business, Economics And Management, Economics Keywords: inflation; economic growth; threshold effects
Online: 30 August 2016 (08:54:34 CEST)
Achieving high economic growth rate while maintaining low inflation rate, has become the main objective of monetary authorities all over the world. Indeed, empirical literature reflects that high inflation rates are detrimental to long run growth and entail welfare costs. To achieve this objective, central banks have availed different options from time to time which include inflation targeting. Monetary authorities in Tanzania have been targeting an inflation level of around 5 percent per annum for economic policy purposes. However, when high inflation is to be controlled, tight monetary policy is put in place which might in turn affect the economic activity. Also, the Tobin effect suggests that inflation causes individuals to substitute out of money and into interest earning assets, which leads to greater capital intensity which in turn promotes economic growth. Against these major points, this paper examines a non linear relationship between inflation and economic growth using both a quadratic and threshold endogenous models and attempts to identify the existence of threshold effects between these variables. The paper uses a data set spanning from 1967 to 2015. The most interesting finding of the estimations is that the estimated coefficient of the linear term of inflation is negative while the estimated coefficient of the square term of inflation is positive, suggesting a U-shaped effect as opposed to inverse or inverted U-shaped relationship found in other countries by previous studies. These results suggest that the Tobin effect may be valid for high inflation, in which people strongly realize the importance of substituting money for interest-bearing assets. This leads to an increase in capital investment, and in turn, an increase in economic growth even with high inflation rate. However, this U-shaped relationship between inflation and economic growth suggests that, the economy is better off at extremely low inflation episodes. The optimal inflation rate that ranges between 3.25 percent and 3.75 percent is obtained by minimizing the residual sum of squares and/or maximizing adjusted R-squared. These findings have some policy implications for the policymakers and development partners. The paper is consistent with policy suggestions by international agencies. Efforts to minimize inflation to a very low level are likely to have a positive effect on economic growth.
ARTICLE | doi:10.20944/preprints201802.0065.v3
Subject: Business, Economics And Management, Economics Keywords: Corruption; Economic growth; Panel Data
Online: 26 February 2018 (15:38:23 CET)
This study attempts to assess the impact of corruption on economic growth in the Mediterranean countries, during the period from 1998 to 2007. Econometric analysis using panel regression has been adopted to test this effect. Individual effects models such as random effects model and fixed effects model were applied to the study sample of 160 observations, and to choose the suitable model, we implemented several tests. For our analysis, we used a basic model that includes the dependent variable GDP per capita as a factor of economic growth and the corruption perception index as the independent variable concerned. Then we completed the model with several standardized macroeconomic control variables mentioned above and applied the individual effects models. The outcomes illustrate that corruption has a negative impact on the selected Mediterranean countries’ economic growth.
ARTICLE | doi:10.20944/preprints201901.0163.v1
Subject: Business, Economics And Management, Economics Keywords: ownership reform; capital allocation; economic growth; total factors production
Online: 16 January 2019 (10:06:07 CET)
This paper studies the mechanism of how China’s state-owned enterprise (SOEs) reform can influences economic growth, and distinguishes the capital efficiency between state-owned and private enterprises. The results show that: 1) the capital allocation efficiency among state-owned enterprises is lower than private enterprise due to an insufficiently released productivity of state-owned enterprises; 2) although with a higher capital allocation efficiency, the improvement of technology progress of private enterprises at a much slower pace compared to its rapidly increasing share in China’s economy. In case of poor allocation with private sector, blindly reforming ownership of state-owned enterprises cannot effectively alleviate the problem of efficiency losses. State-owned enterprise reform can boost economic growth by increasing capital marginal output, improving capital dynamic allocation efficiency, promoting TFP growth and exerting external spillovers on other firms. At present, China is exploring the endogenous power of economic growth, improving the market institutions and promoting the state-owned enterprises reform with positive and steady pace. By properly re-allocation SOEs into the private sector, which has significant influence on improving economic efficiency and promoting sustained economic growth.
ARTICLE | doi:10.20944/preprints202108.0314.v1
Subject: Business, Economics And Management, Economics Keywords: energy poverty; economic growth; energy governance; multidimensional poverty
Online: 16 August 2021 (09:00:19 CEST)
During the last two decades, energy poverty has captured a growing attention of researchers and policymakers due to its strong association with economic poverty and poor economic performance. This study uses a broad set of macro level indicators and makes the first attempt to measure energy poverty and its impact on economic growth of Pakistan over the period 1990 to 2017. In particular, our energy poverty indicator considers four main dimensions of energy poverty, namely, energy services, clean energy, energy governance and energy affordability. Our main results show that though the overall energy poverty has reduced in Pakistan during the selected sample period, the country shows an increasing dependence on polluted energy supply in order to meet its growing demand of energy. In second stage of the investigation, we test the neoclassical growth theory where we incorporate energy poverty along with human capital as source of economic growth. Our cointegration results reveal a strong relationship between energy poverty and economic growth that is also dynamically stable in short run. These strong negative linkages between energy poverty with economic growth for the sample economy complement the previous literature on the subject.
ARTICLE | doi:10.20944/preprints201808.0012.v1
Subject: Business, Economics And Management, Economics Keywords: economic growth; democracy; MENA; simultaneous equations
Online: 1 August 2018 (09:45:56 CEST)
This paper examines the indirect effect of democracy on economic growth using a dataset of 17 MENA countries from 1990 to 2015. Democracy is assumed to affect growth through a series of channels: education, health, physical capital accumulation per labor, government consumption, and trade openness. A system of six simultaneous equations, 3SLS, is used to estimate the effect of democracy on growth through these channels. For further analysis, the countries are classified into groups according to the democratic status on the one side, and the level of income on the other. The results indicate that democracy enhances growth through its positive effect on health in all classifications of countries within the MENA region. However, the effect of democracy on growth through education and physical capital/labor is non-monotonic. Democracy always hinders growth through government size and trade openness. Once all of these indirect effects are accounted for, the overall effect of democracy on growth is negative in less democratic countries and poor countries, but positive in more democratic countries and rich countries.
ARTICLE | doi:10.20944/preprints201811.0068.v2
Subject: Engineering, Energy And Fuel Technology Keywords: economic growth; electricity access, energy production, population growth; ARDL
Online: 8 November 2018 (10:32:08 CET)
The major aim of this study was to investigate and explores the linkage between economic growth, electricity access, energy use and population growth in Pakistan. To check the variables stationarity, Augmented Dickey-Fuller (ADF) and Phillips-Perron unit root test was applied and an Autoregressive Distributed Lag (ARDL) bounds testing approach to co-integration was applied to investigate the dynamic causality link among the study variables. These tests shed light on the long-run connection among the variables; further, the results revealed that electricity access to population, electricity access to urban population, energy usage, population growth, and urban population growth had a significant impact on economic growth, while the electricity access to rural population and rural population growth has a negative impact on the economic growth in Pakistan. According to these findings, study commends that government of Pakistan pay further attention to increase its electricity production from different sources including, hydroelectric, solar, oil and gas and nuclear in order to fulfill the country’s demands. By using ARDL bounds testing approach, this study filled the literature gap regarding economic growth, electricity access, energy use and population growth in Pakistan.
ARTICLE | doi:10.20944/preprints201608.0159.v2
Subject: Business, Economics And Management, Economics Keywords: public investment; domestic private investment; FDI; crowding out effect; economic growth
Online: 30 August 2016 (04:03:38 CEST)
This paper analyzes the causal effect between domestic private investment, public investment, foreign direct investment and economic growth in Tanzania during the 1970-2014 period. The modified neo-classical growth model is used to estimate the ieffect of investment on economic growth. Also, the economic growth models based on Phetsavong and Ichihashi (2012) , and Le and Suruga (2005) are used to estimate the crowding out effect of public investment on domestic private investment on one hand and foreign direct investment on the other hand. In the same way, the crowding out effect of foreign direct investment on domestic private investment is estimated. A correlation test is applied to check the correlation among independent variables, and the results show that there is very low correlation suggesting that multicollinearity is not a serious problem. Moreover, the diagnostic tests including RESET regression errors specification test, Breusch-Godfrey serial correlation LM test, Jacque-Bera-normality test and white heteroskedasticity test reveal that the model has no signs of misspecification and that, the residuals are serially uncorrelated, normally distributed and homoskedastic. Broadly, the empirical results show that the domestic private investment and foreign direct investment play an important role in economic growth in Tanzania. Besides, a revealed negative, albeit weak, association between public and private investment suggests that the positive effect of domestic private investment on economic growth becomes smaller when public investment-to-GDP ratio exceeds 8-10 percent. Similarly, foreign direct investment tends to marginally reduce the impact of domestic private investment on growth. These results suggest that public investment and foreign direct investment need to be considered carefully in order to avoid a reduced positive impact of domestic private investment on growth. Domestic saving may be promoted to encourage domestic investment for economic growth.
ARTICLE | doi:10.20944/preprints201903.0273.v1
Subject: Business, Economics And Management, Economics Keywords: foreign direct investment; economic growth; economies
Online: 29 March 2019 (08:01:17 CET)
This paper aims to research whether there is link between FDI inflows and Economic growth in the Republic of Seychelles Island. The ordinary least square results obtained shows that in the impact of FDI inflows on economic growth is low. Small Island Developing States attracts less FDI inflow because they are limited to few resources that attracts overseas firms which results in retarded development. The research lighted that impact of foreign direct investment on host countries does not only depend on the quality and quantity of the FDI inflows but some other variables such as the internal policies and the management skills, market structures, economic trends among others.
ARTICLE | doi:10.20944/preprints202105.0759.v2
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Okun's law; unemployment rate; Economic Growth; Liberia
Online: 23 June 2021 (13:11:14 CEST)
The purpose of this study is to examine the connection between economic growth and unemployment in Liberia between 2001 and 2019. The unit root test and the Augmented Dickey-Fuller (ADF) Co-integration test were used to examine the relationship between unemployment and GDP. The Auto Regressive Distribution Lag (ARDL) bounds test is used to determine if the variables are linked in the long run. According to the results of the ARDL model, there is no long-run relationship between unemployment and economic growth. This study' results have particularly important policy implications for Liberian economic authorities. In both the long and medium term, the observational results showed no meaningful relationship between unemployment and economic growth. The Liberian government should direct its spending toward activities that directly and indirectly promote the creation of employment and decent jobs, a conducive environment and flexible labor market policies or legislation that are not impediments to job creation, and finally, the government should prioritize labor intensive industries.
ARTICLE | doi:10.20944/preprints202308.1139.v2
Subject: Business, Economics And Management, Econometrics And Statistics Keywords: agricultural sector; agricultural credit; economic growth; Angola; ARDL model; econometric analysis
Online: 26 September 2023 (13:53:32 CEST)
The ultimate goal of this paper was to examine the degree of elasticity between two variables, namely, agricultural credit and agricultural growth, in Angola in the period 2003–2022. Time series data were fitted into the ARDL test using various econometric techniques such as the ADF stationarity test, Granger causality and the ordinary least squares method as well as a vector error correction model (VECM) to analyze the relationship between agricultural credit and agricultural economic growth, showing a causal relationship. Both the impacts through elasticities and the optimal point existing in this relationship were estimated. It was concluded that the impact of agricultural credit on agricultural GDP was 14.41%. Granger causality shows signs of a positive linkage between agricultural credit and agricultural GDP. However, there is a causal relationship between agricultural credit and agricultural GDP, in a unidirectional aspect. This result is consistent with most of the earlier studies reviewed in the literature, confirming that credit-oriented monetary policies can boost economic growth and, consequently, development in Angola. It is important for agricultural credit systems to be designed in a way that ensures equitable access, fair interest rates, and appropriate risk management mechanisms. Additionally, monitoring and evaluation mechanisms should be in place to assess the environmental and social impacts of credit programs on agricultural sustainability. It is worth noting that this is a first-of-a-kind study on the matter of the Angolan credit experience, specifically for the agricultural sector. Angola is still searching for a sustainable credit model that could be used as a catalyzer to boost growth and contribute to economic development.
ARTICLE | doi:10.20944/preprints202106.0711.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Quality of economic growth; environmental regulation; technological innovation
Online: 29 June 2021 (14:14:33 CEST)
Abstract：This paper uses the balanced panel data from 29 provinces (autonomous regions and municipalities) in China for a total of 17 years from 2000 to 2016 as a research sample, and establishes an empirical model to examine the impact of environmental regulations and technological innovation on the quality of economic growth. Then this paper test technological innovation as a threshold variable, in which play a regulatory role. Taking the provincial balanced panel data as a research sample, a fixed effect model, a system GMM model, and a panel threshold model were established for empirical testing and the robustness test. Based on the empirical results, this article draws the following conclusions: from a national perspective, environmental regulations and technological innovation can significantly promote the quality of economic growth; from a regional perspective, there are regional differences in impact effects. Under the constraints of environmental regulations, the promotion effect of technological innovation on the quality of economic growth will be reduced; the impact of environmental regulation on the quality of economic growth will have a "threshold effect", and environmental regulation can significantly promote the quality of economic growth only after crossing the threshold and the threshold of technological innovation.
ARTICLE | doi:10.20944/preprints201910.0316.v1
Subject: Business, Economics And Management, Economics Keywords: economic growth; energy consumption; KEC; MENA countries; TG emissions
Online: 28 October 2019 (05:28:14 CET)
The purpose of this paper is to test the Kuznets Environmental Curve (KEC) hypothesis for 10 MENA (Middle East and North Africa) countries during the period 1987-2017. To do this, the translogical functional form has been adopted to estimate the relationship between Toxic Gases (TG) emissions, energy consumption and GDP per capita. The results confirm the presence of KEC, GDP per capita and energy consumption have a positive influence on TG emissions, and the presence of a feedback relationship between GDP per capita and energy consumption. As a result, the environmental framework of the selected countries improves as their level of growth has become more advanced. In addition, to reduce TG emissions, MENA countries are expected to significantly increase the use of renewable energy and a more efficient energy policy.
ARTICLE | doi:10.20944/preprints202308.1877.v1
Subject: Business, Economics And Management, Economics Keywords: Economic growth; Foreign Direct Investment; Import and Export; Influence Analysis; Labor Force
Online: 29 August 2023 (03:04:57 CEST)
This study aims to explore predictors of the foreign investment from China coming into Rwanda. One of the components of Rwanda’s economy is the investment it receives from other countries. In order to achieve these objectives, the study gathers econometric secondary data from 2007 to 2020 quarterly which were availably provided by National Statistics of China, World Bank, UNCTAD, National Institute of Statistics of Rwanda, and the National bank of Rwanda. From literature and based on the availability of data, market size, trade openness, infrastructure, and human capital were measured as predictors of Chinese FDI. The data is analyzed using linear regression in Stata. The finding of the study showed that variables have a positive effect on FDI from China, and it found that though FDI had an effect on overall economy of Rwanda, the effect was not statistically significant. The study suggested that Rwanda’s policy on foreign investment should aim to attract and encourage Chinese investment to increase the economy of Rwanda. To encourage more FDI, the Rwandan government can offer Chinese investors greater ownership, locational, and internalization benefits. It also should continue to strengthen economic policy transparency since it lowers transaction costs and hence improves incentives for foreign investment.
ARTICLE | doi:10.20944/preprints201806.0194.v1
Subject: Business, Economics And Management, Economics Keywords: Economic growth, Principal Component analysis, Cointegration, Stock market development, financial market development
Online: 12 June 2018 (14:05:09 CEST)
Does the choice of proxy for stock market development matter? This paper suggests that the growth effect of stock market development is sensitive to the choice of proxy and using alternative financial development indicators have practically no influence on the results. We found that using either the stock market capitalization to GDP ratio or the stock market returns; have a positive and significant effect on growth. However, we cannot make same conclusion when one uses either the ratio of total value of trades on the major stock exchanges to GDP or stock market turnover ratio to proxy for stock market development as the coefficient on these variables were found to be statistically insignificant. The indexes extracted from principal component analysis confirm the sensitivity of the effect to the choice of proxy. This finding suggest that stock market development is a conceptual terms, thus, representing it with single indicators make it impossible to identify which stock market development indicators have a significant positive growth effects.
ARTICLE | doi:10.20944/preprints202012.0629.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: liquidity synchronization; liquidity risk; economic growth volatility; emerging Asian economies
Online: 24 December 2020 (14:01:35 CET)
This study investigates the country level determinants of liquidity synchronization and degrees of liquidity synchronization during economic growth volatility. As a non-diversifiable risk factor, liquidity co-movement shock spreads market wide and thus disrupts the overall functioning of the financial market. Firms in Asian markets operate in legal and regulatory environments distinct from those of firms analyzed in the previous literature. Comprehensive analyses of liquidity synchronicity in emerging markets are limited. A major knowledge gap pertaining to Asian emerging markets serves as the primary motivation for this study. Seven Asian emerging economies are selected from the MSCI emerging market index: Bangladesh, China, India, Indo-nesia, Malaysia, Pakistan and the Philippines for analysis from 2010 to 2019. The empirical findings show high levels of liquidity synchronicity in weaker economic and financial environments with low GDP growth, high inflation and interest rates and underdeveloped financial systems taking the form of low levels of private credit. Liquidity synchronicity is also affected by poor investor protection, political instability, weak rule of law and government ineffectiveness. Moreover, levels of liquidity synchronicity are higher in period of economic growth volatility.
ARTICLE | doi:10.20944/preprints201805.0121.v1
Subject: Business, Economics And Management, Economics Keywords: economic growth; public expenditure; panel cointegration; sub-Saharan Africa
Online: 8 May 2018 (05:20:33 CEST)
In this paper, the validity of the Wagner’s law is investigated in tenth selected Sub- Saharan African countries, namely Botswana, Equatorial Guinea, Mauritania, Nigeria, South Africa, Sierra Leone, Tanzania, Ethiopia, Madagascar, and DR Congo. Five variants of the Wagner’s law were tested for the period 2005-2014, using panel econometric approaches encompassing cointegration and causality. The study found a long run relationship between the public expenditure and the various explanatory variables used as proxies of income. The long-run causality tests indicate that there is bidirectional causality between expenditure and income in all models with the exemption of the Gupta model. It is concluded that for Sub-Saharan Africa, both the Wagner’s law the Keynesian hypothesis tend to be valid under the period of investigation. The explanation is that there has been the tendency for public expenditure to grow relative to national income (Wagner’s law) and that public expenditure is a policy instrument (an exogenous factor) for improving national income (Keynesian hypothesis) during the 10-year period.
ARTICLE | doi:10.20944/preprints202012.0301.v1
Subject: Business, Economics And Management, Economics Keywords: Food and non-food inflation; Threshold; TAR model; Economic Growth; Ethiopia
Online: 13 December 2020 (21:32:13 CET)
Economists have long been interested in examining inflation-growth nexus. Nevertheless, the nature of their relationship and the optimal level of inflation threshold for economic growth have still remained controversial in both theoretical and empirical works. Accordingly, this study investigates the existence of threshold effects of inflation on economic growth in Ethiopia over the period 1975-2018 using a Two-regime Threshold Auto-regressive (TAR) model. The study mainly departs from previous works since it estimates sector-specific inflation threshold level in food and non-food sectors. Our preliminary analyses clearly reveal that inflation in food sector has become more volatile, less-persistent and key contributor to the general inflation as compared to its non-food counterpart. Further, The TAR model results and robustness checks indicate the existence of inflation threshold in a range of 9-10%. In particular, the threshold level for food inflation is 10% and 8% for non-food inflation. In all cases, our results robustly confirm growth-detrimental effects of inflation after the threshold levels. After all, this study suggests the need for considering specific behaviors of food and non-food prices, and implementing appropriate fiscal and monetary policies to bring inflation down to a single-digit level.
ARTICLE | doi:10.20944/preprints202201.0142.v1
Subject: Business, Economics And Management, Economics Keywords: Tax Revenue; FDI; Inflation; Gross Savings; Economic Growth; ARDL Model
Online: 11 January 2022 (13:05:45 CET)
This study examined the link between tax revenue components and economic growth in South Africa, utilizing time series data for the period of 22 years. The stationarity of the variables was established using the Phillips-Perron (PP) unit root test, and the existence of long-run and short-run equilibrium conditions was tested using the Autoregressive Distributed Lag (ARDL) model. As a proxy for economic growth, the study used the real GDP growth rate as the dependent variable, with company income tax, personal income tax, taxes on international trade and transactions, taxes on income, profits, and capital gains tax, foreign direct investment, inflation, and gross savings as the independent variables. According to the PP findings, none of the variables are integrated at a higher order than one, i.e. (1). All variables are found to be cointegrated, and all explanatory variables have a long-run link with economic growth. According to the ARDL findings, company income tax, personal income tax, and taxes on international trade and transactions all have a positive long-run and short-run link with economic growth, whereas capital gain tax, foreign direct investment, and gross savings all have a negative long-run and short-run link with economic growth. The long-run coefficient is negatively related to RGDP, while the short-run coefficient revealed a positive link between inflation and economic growth, among other findings. Heteroskedasticity and autocorrelation are not present in our model, according to diagnostic tests. The CUSUM and CUSUMSQ values indicate that the model is structurally sound.
ARTICLE | doi:10.20944/preprints201908.0281.v1
Subject: Computer Science And Mathematics, Information Systems Keywords: Technology finance; Quality of economic development; Spatial econometric model
Online: 27 August 2019 (10:28:53 CEST)
(1) Background: Most of the existing studies focus on the evaluation of technology finance; the relationship between technology finance and technology innovation. But there are few studies on the development of technology finance and the quality of economic development in our country; (2) Methods: Based on the panel data of 30 provinces in China, this paper constructs an index system to measure the development of technology finance through the improved entropy method, and tests the spatial correlation of the development of technology finance in China by Moran'I index. According to the test results, this paper constructs a spatial econometric model to empirically analyze the promoting effect of scientific, technological and financial development on high-quality economic development, and analyzes its promoting effect in different regions and different time periods; (3) Results: The results show that the quality of China's economic growth is spatially dependent, and the development of science, technology and finance can significantly promote the quality economic development in China. And the promotion coefficient of the central region is the largest, as well as the coefficient of the eastern region is the smallest. The promotion coefficient was small and not significant before 2015, and was significantly positive after 2015; (4) Conclusions: this paper puts forward the corresponding policy recommendations according to the research results.
ARTICLE | doi:10.20944/preprints202210.0118.v1
Subject: Business, Economics And Management, Economics Keywords: Adult Population; Economic Growth; Financial Exclusion; Financial Inclusion; Financial Institutions; Financial Inclusion Strategy
Online: 10 October 2022 (10:07:47 CEST)
It has been observed that most adult citizens, globally, are not enjoying financial services. They are financially excluded, especially rural dwellers. Monetary authorities initiated financial inclusion, with the aim of including all adult population who are excluded from financial services into the financial system at an affordable cost to meet their basic needs. Studies have shown that it encourages household savings and affects growth positively. Central Bank of Nigeria initiated financial inclusion in 2012 and commenced implementation in 2014. Given the short period of its implementation, this study ascertained the effect on economic growth in Nigeria. The study used time series data ranging from 2004 to 2021. The study covered the pre-inclusion period, through its implementation period. Ordinary Least Square technique was adopted for data estimation. Preliminary and post-estimation tests were also conducted. Despite the short period of the implementation of financial inclusion strategy, the OLS result affirmed that it positively affects economic growth. It was concluded that financial inclusion is a growth driver. It was recommended that Central Bank of Nigeria, in collaboration with commercial banks and microfinance banks, continue to enforce inclusion exercise in all rural communities, ensuring that women, youths, farmers, traders in the informal sector, are captured by the financial system. Also, Central Bank Nigeria should set up financial inclusion compliance committee at the Local Government levels, with a State Monitoring unit to ensure compliance.
ARTICLE | doi:10.20944/preprints201807.0147.v1
Subject: Business, Economics And Management, Economics Keywords: economic development; convergence club identification; log t convergence; dynamic spatial ordered Probit model (DSOP); influencing factors
Online: 9 July 2018 (13:51:13 CEST)
Balanced and coordinated economic development across regions is a critical goal of regional economic development and new-type urbanization in China. However, few studies have examined economic growth convergence clubs at the county level. To extend the research on convergence clubs, this research applies a log t convergence test and a dynamic spatial ordered Probit model (DSOP) to endogenously identify economic growth convergence clubs in counties and to examine the influence of initial states and structures on club convergence probability. The study sample covers 2286 counties of China from 1992 to 2010. The results show significant convergence club patterns at the county levels, resulting in the gradual formation of six convergence clubs. The DSOP estimation results show that per capita fixed assets, population density and industrialization have promoted convergence club formation to varying degrees.
ARTICLE | doi:10.20944/preprints202306.0722.v1
Subject: Business, Economics And Management, Economics Keywords: economic growth, energy economics, independent energy variables, PLS-PM analysis, asymmetric effect
Online: 9 June 2023 (13:02:59 CEST)
The economic downturn caused by the financial crisis of 2008-2009 and the intensifying glob-al climate policy trends forced changes in the energy management of the European Union. The study examined how the most relevant energy economic variables affected the economic growth of the EU between 2010-2019. The study examined the relationship between GDP (dependent variable) and energy consumption, greenhouse gas emissions, the average energy price, and renewable energy use (independent variables) using the PSL-PM methodology. The results show an asymmetric picture because the independent variables influenced the eco-nomic growth of the EU in the examined period with different correlations and with different strengths. One of the significances of the study is that the presented and analyzed variables, as well as the results of the relationships between them, can contribute to the optimization of the EU's currently critical energy management and economic growth.
ARTICLE | doi:10.20944/preprints202309.1036.v1
Subject: Business, Economics And Management, Economics Keywords: Renewable energy, CO2 emission, Economic growth, FMOLS, DOLS, ARDL, Panel data
Online: 15 September 2023 (11:11:35 CEST)
The study presents empirical results investigating the relationships among renewable and non-renewable energy consumption, CO2 emissions, and GDP within the Visegrád Group (V4) countries. Using FMOLS/DOLS and ARDL approaches, along with causality tests based on the Toda-Yamamoto method, the study explores these relationships at a regional level. The findings indicate that renewable energy has a small positive impact on long-term economic growth, with non-renewable energy having a more significant effect. Moreover, CO2 emissions have a negative impact on economic growth, suggesting ongoing reliance on non-renewable energy sources and a burden on economic expansion. On an individual country level, the effects vary. Poland, Slovakia, and Hungary exhibit a negative relationship between CO2 emissions and economic growth. Energy sources also differ in impact: in Poland, the Czech Republic, and Slovakia, non-renewable energy significantly affects economic growth, while in Hungary, renewable energy plays a more substantial role. Causality tests reveal a causal relationship between CO2 emissions and economic growth in the Czech Republic and Poland, suggesting CO2 emissions significantly influence economic expansion. In terms of energy production, renewable energy is causally related to economic growth in the Czech Republic and Slovakia. All countries demonstrate significant causality between non-renewable energy and economic growth. Additionally, a relationship between renewable energy and CO2 emissions is confirmed in Poland.
Subject: Business, Economics And Management, Economics Keywords: economic growth; CO2 emissions; cancer incidence; the CIS region; panel data estimation
Online: 12 January 2020 (16:33:48 CET)
It is widely discussed that growth of GDP has a vague impact on environmental pollution due to the emissions of carbon dioxide from consumed fossil fuels in production, transportation and power generation, and creation of required instruments to control environmental pollution as well. Due to the fact that environmental pollution can be a reason of mortality increase in a society, the main purpose of this study is to investigate the relationship between economic growth, fossil fuel consumption, mortality (from cardiovascular disease, cancer, diabetes and chronic respiratory disease) and environmental pollution using Generalized Method of Moments (GMM) estimation technique in the case of CIS member states over the period of 1993-2018. The major results revealed CO2 emissions in in the region of CIS have a positive effect on increase of mortality from cardiovascular disease, cancer, diabetes and chronic respiratory disease. In regards to fossil fuel consumption, the estimation proved that this variable affects mortality from cardiovascular disease, cancer, diabetes and chronic respiratory disease positively. In addition, we found effect of economic growth, population growth and inflation rate positively, while any improvement in human development index (HDI) has a negative effect on increase of mortality from cardiovascular disease, cancer, diabetes and chronic respiratory disease in the CIS region. It is recommended that the CIS member states carry out different policies to improve energy transition indicating movement from fossil fuel energy sources to renewable ones. Moreover, we recommend the CIS member states to enhance various policies for easy access to the electricity from green sources and increase of renewable supply through improved technologies, sustainable economic growth, and increase of using green source in daily social life.
ARTICLE | doi:10.20944/preprints202201.0209.v1
Subject: Business, Economics And Management, Economics Keywords: Economic Growth; Gross Fixed Capital Formation; Government Expenditure; Government Deficit; Vector Auto-Regression and South Africa
Online: 14 January 2022 (11:36:07 CET)
The study uses annual time series data from the South Africa Reverse Bank (SARB) from 1980 to 2020 to examine the effectiveness of fiscal policy on economic growth in South Africa. The Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests, as well as the Johansen Co-integration test, Granger causality test, and Vector Auto-Regression (VAR) method, were used in the study. Real GDP per capita (RGDP) is used as proxy of economic growth and gross fixed capital formation (GFCF), government expenditure (GEXP) and government deficit (GOVD) as the proxies of fiscal policy. The ADF test results show that all variables are stationary at the first difference, with the exception of GFCF and GEXP, which are stationary at I(0), whereas the PP test results show that all variables are stationary at I(1), with the exception of GEXP, which is stationary at I(0). At Maximum Eigenvalue, the four variables are not cointegrated. The findings of the Granger causality test demonstrated a unidirectional causation from GOVD to RGDP, as well as a bidirectional causality from RGDP to GFCF and GEXP. Error Correction Model Estimated using VAR shows that GFCF, GEXP have positive effect on RGDP whereas GOVD has a negative effect on RGDP in the short run. The findings also presented that the VAR's residuals are homoscedastic, which means they are normally distributed and have no serial correlation.
ARTICLE | doi:10.20944/preprints202012.0418.v1
Subject: Social Sciences, Law Keywords: economic indicators; financial markets; business rights; law; responsibilities of business; legal stability; information security; factors
Online: 17 December 2020 (08:00:57 CET)
Global economy, financial markets and technology are on the verge of moving to a new stage of development – information society. Three major world countries the US, Russia and China will play a leading role in this process. However, the specific development path will depend on many factors, including the stability of legal systems, security of computer and financial technologies, the effectiveness of legislation. The focus of this article is to assess the current condition of the economy the major countries, to identify trends and methods of stabilization of legal systems on the basis of balance of rights and obligations of the business, suggest some methods of objective evaluation of the impact factors of the total taxes, fixed costs and the legal system dynamics on financial indicators.
ARTICLE | doi:10.20944/preprints202304.0740.v1
Subject: Social Sciences, Other Keywords: Poverty: Non-Cash Food Assistance; Stunting; Economic Growth; Public Private Partnership
Online: 23 April 2023 (03:27:09 CEST)
Poverty alleviation must be carried out in a planned and sustainable manner by the central government and regional governments, the private sector, and the entire community to achieve a prosperous society by getting special attention from the government. This study aims to analyze the impact of the non-cash food assistance program on poverty alleviation, stunting and economic problems using a public private partnership (PPP) approach that involves the role of the government, the private sector and the community. This study uses a qualitative-explorative research method to examine Indonesia's non-cash food assistance program as a national initiative to fight poverty in the form of food. Data were collected from interviews, field observations, and relevant literature, then Nvivo 12 Pro was used to analyze the results. The location of this research is in Indonesia, namely Takalar Regency. The results of the study show that the implementation of the non-cash basic food assistance program has been effective. The involvement of the government, the private sector, and the community shows this. The success factors for the basic food assistance program are alleviating poverty in Indonesia, reducing stunting rates, and increasing economic growth because people are given a place to be part of small businesses. From the results of this analysis it was concluded that the non-cash basic food assistance program is a special program that can overcome various social problems in society. So that poverty alleviation programs are expected to be sustainable and improved to provide benefits for people's welfare. The implementation of the food aid program also involved several cross-sectoral efforts to channel government assistance.
ARTICLE | doi:10.20944/preprints202205.0394.v1
Subject: Biology And Life Sciences, Animal Science, Veterinary Science And Zoology Keywords: animal growth performance; carcass traits; economic returns; Nguni cattle heifers; spineless cactus diets
Online: 30 May 2022 (11:17:32 CEST)
In an attempt to improve free-range beef cattle herds and explore the economic viability of utilizing Opuntia ficus-indica (spineless cactus) cladodes as supplementary feed, we investigated the impact of cactus diets on animal growth performance and carcass characteristics of Nguni cattle heifers. Four dietary treatments were randomly assigned to 32 heifers aged 24-months, weighing on average 172.2±27.1 kg, with each dietary treatment replicated to 8 individually penned heifers for 90 days. The dietary treatments were control diet (pasture-based energy + protein sources), 10% cactus diet, 20% cactus diet and commercial diet (crop-based energy and commercial protein source). The heifers fed commercial and control diets attained significantly (P < 0.05) higher dry matter intake, average daily gains, fat thickness, carcass conformation scores and lower feed conversion ratio than those fed cactus diets. However, the final body weight gains, slaughter and carcass weights, rib-eye muscle area and meat pH45 min and 24h were comparable (P > 0.05) between heifers fed cactus diets and those fed commercial and control diets. The 10 and 20% cactus diets had greater gross margins (P < 0.05) of R278.6 and R296.9, respectively than the other diets, due largely to reduced total variable costs. The comparability of carcass traits of heifers fed cactus diets and those fed non-cactus diets as well as higher economic returns from cactus inclusion warrants the use of cactus diets, particularly during drought when commercial feed prices rise.
ARTICLE | doi:10.20944/preprints201901.0102.v1
Subject: Social Sciences, Urban Studies And Planning Keywords: renewable energy; economic growth; public health expenditure; carbon emissions; FDI inflows; green logistics
Online: 11 January 2019 (04:39:42 CET)
We do this research to investigate the relationship between renewable energy, public health expenditure, logistics performance indices, and economic and environmental sustainability in the ASEAN member states, through the analysis of a panel data from 2007 to 2017. The study used secondary data, which is downloaded from the World Bank Website and employs SEM (Structural Equation Modelling) model for testing hypothesis. The results show that the usage of renewable energy in logistical operations would enhance the environmental and economic performance in terms of mitigating carbon emissions and greenhouse gas emissions. While, public health expenditure and environmental performance is negatively correlated, which confirms that greater environmental sustainability with lower carbon emissions and greenhouse gases will improve human health and economic growth. Moreover, greater public health expenditure and poor environmental performance has negative effect on economic growth, inefficiency and low productivity of labor slowdown to the economic activities. For another side, the usage of renewable energy and the adoption of green practices in international logistics will develop the environmental sustainability, establish better image of a country and attract foreign direct investment inflows, and also minimize carbon emissions and public health expenditure, spurring sustainable economic growth with better export opportunities in pro-environmental countries.
ARTICLE | doi:10.20944/preprints202304.0120.v1
Subject: Business, Economics And Management, Economics Keywords: innovation (IN); technology revolution (TR); foreign direct investment (FDI); economic growth (EG)
Online: 7 April 2023 (09:01:00 CEST)
Changing climate conditions and rapidly increasing carbon dioxide emissions have severely affected the global ecosystem and world economy. Governments around the world have paid attention to these resulting challenges and enacted many policies to reduce environmental pollution and carbon dioxide (CO2) emissions. This study aimed to determine and understand the relationship between innovation, foreign direct investment, economic growth, renewable consumption and CO2 emission in Vietnam. Information was collected annually based on the annual data of the General Statistics Office of Vietnam and World Bank from 2000 to 2022. Data processing was conducted using the STATA 17.0 software. The innovation affects Vietnam’s environmental pollution. Innovation positively affect environmental pollution in Vietnam; if Vietnam’s innovation were to increase by 1%, CO2 emissions would increase by 0.68%. The empirical research results of this study also show that renewable energy consumption has a negative effect on environmental pollution in Vietnam; if renewable energy were consumed at a 1% increase, CO2 emission would decrease by 0.51%. In addition, FDI inflows and economic growth have strongly positive affecting to environmental pollution; if Vietnam’s FDI inflows were to increase 1%, CO2 emissions would increase 1.39%; if Vietnam’s GDP increase 1% then CO2 emission would increase 1.26%. This paper also provides some recommendations that can assist Vietnam in developing a green and sustainable economy in the technology revolution 4.0 to achieve the United Nations Sustainable Development Goals (SDGs) over a long-term period.
ARTICLE | doi:10.20944/preprints202209.0249.v1
Subject: Business, Economics And Management, Economics Keywords: Green energy; Natural resource rents; Economic growth; SDGs; FGLS; PMG & MG
Online: 16 September 2022 (11:37:20 CEST)
The concept of green energy is now at the forefront of development discourse, with the United Nations Sustainable Development Goals (SDGs) 7, 11, and 12 all aimed at promoting green energy consumption to combat the three planetary crises: climate change, biodiversity loss, and pollution. Similarly, issues regarding Africa’s natural resource curse have caused a stir in the growth and development literature for some time now and there is no sign that it will die out. This study, the first of its kind, simultaneously assesses the impact of green energy consumption and Africa’s natural resources rents on economic growth by applying the Feasible Generalized Least Square (FGLS) estimator and the dynamic panel models of the Pooled Mean Group (PMG) and Mean Group (MG) estimators on data from 1990 to 2020 for 24 selected African countries. The results show that green energy consumption has a short-run growth-limiting effect and a long-run growth-enhancing effect in Africa. The study also found evidence of the natural resource curse phenomenon in Africa. The study, therefore, calls for the advancement and usage of green energy for both domestic and industrial production in Africa. The study further calls for a revamp in the global tax policy to curb illicit financial activities and strengthening institutional quality for transparency and accountability in the entire value chain of natural resource management in Africa.
ARTICLE | doi:10.20944/preprints202301.0243.v1
Subject: Social Sciences, Geography, Planning And Development Keywords: modernisation; economic sustainability; economic modernisation
Online: 13 January 2023 (08:24:42 CET)
The present paper investigates the determinants of the country’s modernisation through the lens of its citizens. A combination of the ‘hard’ determinants of country’s modernisation (effectiveness of digitisation, infrastructure, environment and interoperability of natural resources; behaviour in line with environmental trends of the EU) and ‘soft’ (interest in opportunities and benefits of renewable energy) was investigated. It was revealed that even for some developed countries, the ‘hard’ determinants have a greater impact on country’s modernisation compared to the ‘soft’ ones. A representative cross-sectional survey of 1015 respondents and a factor coupled with a network analysis served as the main research instruments. Lithuania served as a geographic setting for the research.
ARTICLE | doi:10.20944/preprints202101.0200.v1
Subject: Business, Economics And Management, Economics Keywords: COVID-19; economic model; economic cascade; economic impact coronavirus; California economy
Online: 11 January 2021 (13:25:15 CET)
Shelter-in-place policies and the closure of non-essential workplaces intended to disrupt transmission of the SARS-COV-2 virus are effective approaches to combating COVID-19. They have, however, caused record levels of unemployment in the United States, raising questions of whether mitigation is more societally damaging than the disease. Here we use a coupled epidemiological-economic model to estimate the impact on employment of an unmitigated, business-as-usual approach to the pandemic. We compared unemployment between March-August 2020 in ten Californian socio-economic systems (SESs) to unemployment forecast by a model of industrial sector inter-dependencies subjected to unmitigated outbreaks of COVID-19. We found that economic losses are unavoidable because disease-driven losses propagate economically through SESs, amplifying losses to the disease. While model forecasts are generally lower than actual unemployment, jobs savings would come at the cost of greatly increased worker mortality. The costs would also be disproportionately greater among smaller and inland SESs.
ARTICLE | doi:10.20944/preprints201812.0201.v1
Subject: Computer Science And Mathematics, Probability And Statistics Keywords: Bayesian Vector Autoregression (BVAR), Modeling, Forecasting, Gross Domestic Product (GDP), Economic Growth, Revenue, Oil sector, Non-oil Sector
Online: 17 December 2018 (15:56:09 CET)
The present reality about the Nigerian economy calls for investment and development in the non-oil sector. This becomes necessary as a result of fall in the oil price in the global market. This paper examined the Bayesian Vector Autoregression (BVAR) modeling and forecasting of the dynamic interrelationship between Economic growth and revenue from the oil and non-oil sectors in Nigeria. To achieve this, annual data on Gross Domestic Product (GDP), revenue from oil and non-oil sectors were collected from Central Bank of Nigeria (CBN) bulletin, the sample from 1981 to 2008 was used for analysis, while sample from 2009 to 2014 was used for model validation. Six (6) versions of Sims-Zha BVAR models were compared for out-of-sample forecast, the result revealed the superiority of the BVAR6 model over the other BVAR models. Lastly, evidence from the decomposition forecast errors revealed that revenue of oil sector contributed 7.69% to GDP while revenue from non-oil sector contributed 0.12% to GDP in Nigeria. This paper therefore recommended that the present government should encourage investment that is geared toward development in the non-oil sector, of which it has the capacity to improve the Economic growth of the Nigerian economy.
ARTICLE | doi:10.20944/preprints201903.0261.v1
Subject: Physical Sciences, Acoustics Keywords: thermodynamics-economics dictionary; economic Einstein 4D PDEs; economic Schwarzschild type metric; economic 3D black holes; economic entropy
Online: 28 March 2019 (09:43:56 CET)
The subject of this paper is to analyse the Math Principia of Economic 3D Black Holes in Roegenian economics. This idea is totally new in the related literature, excepting our papers. In details, we study two special problems: (i) math origin of economic 3D black holes, (ii) entropy and internal political stability depending on national income and the total investment, for economic RN 3D black hole. To solve these problems, it was necessary to jump from macroeconomic side to microeconomic side (a substantial approach so different), to complete the thermodynamics-economics dictionary with new entities, to introduce the flow between two macroeconomic systems, to study the Schwarzschild type metric properties on an economic 4D system, together with Rindler coordinates, Einstein 4D PDEs, and economic RN 3D black hole. In addition, we introduce some economic Ricci type flows or waves, for further research.
ARTICLE | doi:10.20944/preprints202101.0602.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Economic complexity; Poverty headcount; Economic Growth; Economic growth volatility; Income inequality; External shocks.
Online: 29 January 2021 (06:06:47 CET)
This paper has examined the effect of economic complexity on poverty in developing countries. The analysis has used a sample of 84 countries over the period 1980-2017. Results indicate that greater economic complexity results in lower poverty headcount rates. This is particularly the case for countries that enjoy higher economic growth rates, lower levels of income inequality and lower degrees of economic growth volatility, including due to lower sizes of export demand and financial flows shocks. These findings have important policy implications for developing countries that are exploring ways and means to recover from the current COVID-19 pandemic crisis, and prepare for future crises.
ARTICLE | doi:10.20944/preprints202310.1350.v1
Subject: Social Sciences, Urban Studies And Planning Keywords: economic sustainability; university city; socio-economic inequality; index assessment
Online: 20 October 2023 (12:32:52 CEST)
The study is devoted to analyzing the economic sustainability of the town of Amherst, MA. The city's top employer and core enterprise is the University of Massachusetts Amherst, with over 32,000 students and almost 2,000 staff members. Based on a literature review, a hypothesis was put forward that a university city should have a high level of economic sustainability. To assess economic sustainability, the USCESI Index was developed. It evaluates sustainability in three groups of parameters: society, economy, and ecology. The first group includes the level of racial diversity, the level of education of the population, and the access to medical services. The second group consists of the Gini coefficient by income level, the median cost of housing, and the unemployment rate. The environmental situation is assessed according to the Air Quality Index developed by the US Environmental Protection Agency. For comparison, the town of Braintree, MA, was taken. The USCESI was calculated for both locations. The analysis showed that both Amherst and Braintree have a high degree of economic sustainability. However, it was revealed that proximity to a significant economic center has a more powerful positive impact on economic sustainability than the location of a large university.
ARTICLE | doi:10.20944/preprints202307.1078.v1
Subject: Business, Economics And Management, Economics Keywords: Uzbekistan, health spending, economic impact, Wagner’s Law, economic geography.
Online: 17 July 2023 (16:19:50 CEST)
In this research, we investigate the healthcare expenditure patterns in Uzbekistan, analyze their economic implications, and provide policy recommendations. The study focuses on the time frame from 2000 to 2019, employing quantitative data analysis, theoretical frameworks such as Wagner’s Law, and an economic geography perspective. Our objective is to gain insights into the relationship between economic development and healthcare spending, identify spatial disparities, and forecast future trends. The findings reveal fluctuations in per capita healthcare spending, emphasizing the necessity for sustainable financing mechanisms and preventive measures. Ultimately, our study underscores the significance of aligning healthcare expenditure decisions with economic objectives while prioritizing the well-being of the population.
ARTICLE | doi:10.20944/preprints202303.0038.v1
Subject: Medicine And Pharmacology, Ophthalmology Keywords: keratoconus; lifetime expenditure; economic burden; Keratoconus Economic Burden Questionnaire
Online: 2 March 2023 (08:48:53 CET)
Aim: This study measures and evaluates the socioeconomic burden of people living with keratoconus in Saudi Arabia. Methods: The study employed a cross-sectional design, a Keratoconus Economic Burden Questionnaire, and a convenient sample of 89 keratoconus patients (58.4% male) drawn from multiple regions in Saudi Arabia. It was conducted using online surveys and the data was analysed using appropriate quantitative techniques. Results: The mean age and annual income of participants were 33.24 years and Saudi Riyal (SAR) 33,505.6180 (SD=62,215.29), respectively, with only 37% being employed for wages. Up to 94.4% needed glasses or contact lenses at least once a week and 73.0% received care from optometrists. The condition forced 45.9% of the respondents to change careers or leisure activities, with a further 51.3% having to take time off work. The mean annual out-of-pocket expenses for buying and maintaining glasses or contact lenses as well as traveling and accommodation for keratoconus-related treatment were SAR 8,673.19 (SD=11,307.73), with 48.32 incurring upwards of SAR 12,000 over the period. The treatment costs increased with disease duration, r(89) = .216, p < .05. Regression results show that the existence of comorbid eye disease, changing glasses at least once a year, and wearing either glasses or contact lenses at least once a week individually have statistically significant, negative effects on the total annual keratoconus treatment costs, while disease duration, utilisation of optometrists, and taking time off had a statistically significant increase on the total cost (p<.05). Conclusion: With a prevalence rate of 1 in 375, progressive debilitation, and the lifetime nature of the disease, keratoconus is a critical public health concern in Saudi Arabia. The resulting visual impairment and discomfort as well as both direct and indirect economic burdens have considerable impacts on the patient's quality of life.
Subject: Engineering, Automotive Engineering Keywords: economic evaluation; techno-economic sensibility; biorefinery; shrimp; chitin; chitosan; astaxanthin
Online: 27 September 2020 (04:41:00 CEST)
Huge amounts of wastes are generated during shrimp processing, representing approximately 65% of the initial shrimp weight, which can become an environmental problem when accumulated. Residues such as shrimp shells can be processed to obtain value-added products such as chitin, chitosan, astaxanthin, and a nitrogenous extract under the biorefinery concept. In this work, the economic evaluation and the techno-economic sensibility analysis for a mass integrated biorefinery based on shrimp were developed to determine the economic feasibility of the project and to identify the critical techno-economic variables that affect the profitability of the process. The results showed that a biorefinery for the annual processing of 4,113.09 tons of fresh shrimp in Colombia is profitable, with a return on investment percentage (%ROI) equal to 65.88% and a net present value (NPV) of 10.40 MM USD. The process supports decreases of up to 28% in capacity of production and increases of 12% and 11% in the cost of raw materials and variable operating costs without incurring losses, respectively. However, the decrease over 500 USD/t in the shrimp meat selling price is not supported, thus it is mainly recommended to increase the selling price of this product.
ARTICLE | doi:10.20944/preprints202011.0155.v1
Subject: Engineering, Energy And Fuel Technology Keywords: environmental efficiency; energy; economic; PV installation; modernization; economic analysis; ecological effect,
Online: 3 November 2020 (14:13:39 CET)
The paper addresses an analysis of the efficiency and profitability of the operation of a photovoltaic installation located in the geometric centre of Europe (near Białystok, Poland), where the intensity of solar irradiation is not too high compared to other European countries. It is calculated that in that place average solar irradiation being lower even by approx. 26 kWh than that for the whole Europe, which results in a 26% drop in the economic potential of the utilisation of solar energy for its conversion. A case study and an economic analysis show that without minimum funding amounting to 50% of the investment costs paid for the modernisation of a central heating system assisted by PV cells, the time of return of pecuniary expenditures exceeds 7 years. Apart from the Simple Pay-Back Time SPBT, discount indicators determined in the paper also include the net present value NPV and the internal rate of return IRR. Moreover, a direct ecological effect has been determined for such an investment.
CONCEPT PAPER | doi:10.20944/preprints202005.0245.v1
Subject: Business, Economics And Management, Economics Keywords: COVID19; economic paradigm shift; economic failures; post-COVID19 economy; 5G technology
Online: 15 May 2020 (03:35:16 CEST)
This conceptual article is aimed at evaluating the COVID19 impacts on the global economy and to postulating an ‘economic paradigm shift’. We argue that the existing economic, political, and trade principles have been challenged due to the global pandemic issue. We also compare the COVID19 impact on Western countries and Eastern countries with their control mechanisms. The emerging of new economies is due to the travel restrictions and disrupt of the global economies are discussed that pave a gateway to the economic paradigm shift. The article finally assesses the advent of 5G technology and its implications to face any future health threats that will lead to the next economic paradigm shift in the modern world.
ARTICLE | doi:10.20944/preprints202307.2056.v1
Subject: Business, Economics And Management, Economics Keywords: Entrepreneurship; Sustainability; Economic progress
Online: 31 July 2023 (12:12:43 CEST)
Sustainability means that the current use of resources does not compromise the well-being of future generations. Ever since Malthus (1798) forecast that population tends to grow faster than the growth of resources to support the population, people have claimed that current resource use is unsustainable, so future generations will be materially worse off than those in the present, yet for more than two centuries this has not been the case. The reason is that markets, and market prices, act to conserve scarce resources, and in market economies, entrepreneurs have an incentive to discover more efficient ways to use resources. The claim that twenty-first century market economies are not sustainable is not supported by the evidence. This paper explains why entrepreneurship in market economies produces sustainable economic progress.
CASE REPORT | doi:10.20944/preprints202309.0420.v1
Subject: Business, Economics And Management, Economics Keywords: economic multipliers; remote work; local economies; business impact; economic stimulus; catalytic impact
Online: 7 September 2023 (05:04:45 CEST)
The advent of remote work has ushered in a new era of economic transformation, redefining the dynamics of local economies, and unleashing the multiplier effect on a national scale. This abstract explores the profound implications of remote work on local economies, dissecting how the multiplier effect operates within a nation's economic landscape. The multiplier effect is a fundamental economic concept that highlights how changes in spending and investment can create a ripple effect, leading to a magnified impact on an economy. This concept gains new significance in the context of remote work, as it triggers a chain reaction of economic activities that radiate from remote workers to their local communities. The increased flexibility and reduced geographical constraints of remote work have reshaped the allocation of resources. The continued reliance on remote work may lead to a reduction in demand for commercial real estate in urban centers, necessitating adaptive urban planning strategies. In conclusion, the rise of remote work has initiated a transformative era for local economies, driven by the multiplier effect. By amplifying the impacts of spending and investment, remote work fosters job diversification, innovation, and infrastructure development within communities. As remote work continues to reshape the landscape of work and life, understanding and harnessing its multiplier effect remains paramount for policymakers, businesses, and local communities alike. The multiplier effect is a concept in economics that illustrates how changes in spending can lead to larger impacts on a nation's economy through a chain reaction of economic activities. It demonstrates that an initial injection of spending, whether from government expenditure, investment, or consumption, doesn't just have a one-time impact. Instead, it sets off a series of interconnected spending and income-generation processes that result in a larger overall increase in economic activity. t's important to note that the multiplier effect can work in reverse as well. If there's a decrease in spending, it can lead to a decrease in economic activity and income through the same chain reaction process. This concept highlights the interconnected nature of economic activities and emphasizes the significance of changes in spending patterns on a nation's overall economic health. The magnitude of the multiplier effect is influenced by factors such as the marginal propensity to consume (the proportion of additional income that households spend), leakages (savings and taxes that reduce the multiplier effect), and the extent to which additional spending creates additional production capacity within the economy. Understanding the multiplier effect is essential for policymakers, as it helps them gauge the potential impacts of changes in fiscal and monetary policies on the economy.
ARTICLE | doi:10.20944/preprints202307.0190.v1
Subject: Business, Economics And Management, Economics Keywords: Economic Geography; Free Economic Zone; Foreign Direct Investment; Industrial Location; Spatial Patterns
Online: 4 July 2023 (11:20:33 CEST)
Uzbekistan, as an emerging national economy, aims to attract foreign direct investment (FDI) to foster the development of its free economic zones (FEZs). While recent policy reforms have enhanced the country's appeal to investors and facilitated the inflow of international capital, challenges persist in attracting investment. This study employs an economic geographical approach to analyze and propose solutions to these obstacles. By examining the spatial patterns of FEZs and FDI through a comprehensive geographical lens, this research utilizes document analysis as an alternative to empirical analysis, considering the broader context rather than focusing on a specific FEZ. The findings reveal that the insufficiency of an innovation-driven environment, logistical systems, energy resource-related issues, among others, negatively impact the inflow of FDI into FEZs. Moreover, the study underscores the significance of economic geography in understanding these factors. Finally, relevant insights and recommendations are provided from an economic geographical perspective.
ARTICLE | doi:10.20944/preprints202111.0295.v1
Subject: Public Health And Healthcare, Other Keywords: Preexposure prophylaxis; transmission model; PrEP; economic evaluation; HIV; economic evaluation; health economics
Online: 16 November 2021 (14:36:41 CET)
Introduction: Pre-Exposure Prophylaxis (PrEP) for HIV prevention has been implemented in several countries. Previous literature has shown that its cost-effectiveness (and, under some specifications, cost-saving character) is dependent on the reduction in price due to generics, the time-horizon and its effectiveness. The intervention has never been studied in Catalonia, a territory with extensive implementation. Methods: Economic evaluation of the implementation of HIV pre-exposition prophylaxis using administrative data from Men who have Sex with Men (MSM) who receive the treatment (at the generic price). A deterministic compartmental model and a social perspective with a micro-costing approach over the time horizon 2022-2062 are used. A baseline 86% effectiveness of PrEP is assumed. Results: Daily oral PrEP is found to be cost-saving: discounted savings in costs are attained after 16 years, and after 40 years they reach 81 million euros. In terms of health indicators, 10,322 additional discounted QALYs are generated by the intervention. Results are sensitive to sexual behavioral patterns among MSM, the price of PrEP (reduced if offered on-demand), its effectiveness and the discount rate. Conclusions: The use and promotion of PrEP in Catalonia is predicted to result in substantial health and monetary benefits because of reductions in HIV infections. Short-term investments in the promotion of PrEP will result in important cost-savings in the long term.
ARTICLE | doi:10.20944/preprints202011.0207.v1
Subject: Business, Economics And Management, Finance Keywords: Green Initiatives; Economic Growth; Social Development; Green Economic Development Plan; Financial Performance
Online: 5 November 2020 (10:25:02 CET)
This study was conducted to propose the Green Economic Development Plan for Manufacturing S.M.E.s based on financial performance and operations thru Green Initiatives. The descriptive survey method used to gather data to determine the green initiative's implementation of small and medium (S.M.E.s) manufacturing enterprises. Green initiatives use as a basis for crafting a green economic development plan. Document analysis was also employed to obtain data from any available printed materials and records provided by the respondents. Such methods of gathering information used to validate data gathered from local and foreign-related literature. The observation also employed to survey the assets owned and validate any green initiatives practiced, including their implementation. The study's findings show that among the green initiatives implemented by SMMEs, which resulted in the reduction of total costs and expenses, were the proper disposal and segregation of waste materials, water management by recycling wastewater and using water-efficient equipment, natural resources, and raw materials management. SMMEs should encourage active participation and support of suppliers and customers in achieving G.E.D.'s objectives by developing incentive schemes.Furthermore, SMMEs should continue to benchmark with G.E.D. Practitioners are operating locally and abroad to adopt best greening strategies and regularly network with concerned government agencies for continuous updating on G.E.D. Initiatives that may benefit the firm. Further research may be conducted on green initiatives implemented by small and medium enterprises in other industry sectors.
ARTICLE | doi:10.20944/preprints202107.0095.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: economic growth; globalization; sustainability; ease of doing business; entrepreneurship; economic freedom; Nordic countries.
Online: 5 July 2021 (12:09:02 CEST)
The Nordic countries are practically always well positioned in the main international economic, social and sustainability indices and recommending the scientific literature that the variables that these indices intend to measure translate into sustainable economic growth, with this unprecedented empirical study we intend to verify through the ARDL methodology for space temporal 2004 -2018 if the maintenance of high scores in these indexes translates into effective economic growth. The ARDL methodology has the advantage of giving us short- and long-term coefficients. Using four of the main international indices, we conclude that for Nordic countries for economic growth, economic freedom is of no significance and business-friendly regulation is the most important variable. A fundamental discovery in our study (in which Granger's Causality complements the ARDL methodology) is that these countries have been able to adapt perfectly to the globalization process and that entrepreneurship has worked as an important contribution to the continued economic and social success of these countries, allowing them to continue to enjoy their “Nordic Welfare States” in these uncertain and troubled times. These variables have contributed to its economic and social sustainability.
ARTICLE | doi:10.20944/preprints201808.0361.v1
Subject: Environmental And Earth Sciences, Atmospheric Science And Meteorology Keywords: Agro-economic crop water productivity; Hydro-economic modeling; CSPSO-MODSIM; Economic benefits; Crop pattern planning; Crop water Irrigation depth; Climate change; Iran.
Online: 5 November 2018 (11:12:25 CET)
For water-stressed regions like Iran improving the effectiveness and productivity of agricultural water-use is of utmost importance due to climate change and unsustainable demands. Therefore, a hydro-economic model has been developed here for the Zarrine River Basin with the central concept of that demands are value-sensitive functions, where quantities of water-uses at different locations and times have a changeable economic benefits. To do this, the potential crop yields and the surface and groundwater resources, especially Boukan Dam inflow are simulated using the hydrologic model, SWAT, based on predicted climatic scenarios i.e. quantile mapping-downscaled projections. Then, to allocate the agricultural water based on the agro- economic crop water productivity (AEWP) of crops, a basin-wide water management tool, MODSIM, is customized. Next, a simulation- optimization model has been developed using a coupled CSPSO-MODSIM, to optimize the total AEWP, considering climatic impact and crop pattern scenarios, for 2020-2038, 2050-2068 and 2080-2098 periods. Finally, the optimum crop pattern and crop water irrigation depths are presented for different RCPs and periods. The results indicated that this approach will improve considerably the AEWPs and decrease the agricultural water-use up to 40%. Thus, this integrated model is able to support water authorities and other stakeholder in a water-scarce basin, as is the study area.
ARTICLE | doi:10.20944/preprints202311.0236.v1
Subject: Business, Economics And Management, Econometrics And Statistics Keywords: Inclusive growth; economic; environmental; and social indicators; asian cooperation dialogue; Driscoll Kraay’s standard errors regression; fishery and aquaculture production; tradeoffs between development and sustainability; renewable energy utilization
Online: 3 November 2023 (14:44:59 CET)
This study investigates how a range of economic, environmental, and social indicators have influenced the concept of inclusive growth in 19 member countries of the Asian Cooperation Dialogue over the period spanning from 1995 to 2021. To analyze these relationships, the research employs the Driscoll Kraay's Standard Errors regression technique, designed to account for factors such as cross-sectional dependence, hetero-scedasticity, and autocorrelation within the data. Furthermore, various preliminary tests were conducted to assess the data for cross-sectional dependence, slope heterogeneity, heteroscedasticity, and autocorrelation. Additionally, the Westerlund cointegration test was employed to evaluate the potential long-term equilibrium relationships among the variables. The findings reveal that the influence of independent variables on the dependent variable, which in this case is the level of inclusive growth (ING), differs significantly among three distinct income categories: lower-middle-income countries (LMYCs), upper-middle-income countries (UMYCs), and high-income countries (HYCs). Notably, the results underscore the overall statistical significance and robust fit of the regression model for all three income groups. One of the primary contribu-tions of this research is the provision of empirical evidence concerning the role played by fishery and aquaculture production in fostering inclu-sive growth in the Asian context. This research also highlights the trade-offs between economic development and environmental sustainability in terms of trade openness, agriculture, forestry and fishing, ecological footprint, and renewable energy utilization. Enhancing inclusive growth in Asia requires improving fishery and aquaculture management, diversifying economic activities, reducing ecological footprint, and increasing renewable energy utilization. The paper suggests some future work directions for extending the analysis to other regions and indicators, as well as incorporating dynamic panel data models and causality tests. The paper also suggests some policy implications for fostering inclusive growth in Asia through regional cooperation, capacity building, technology transfer and green financing.
ARTICLE | doi:10.20944/preprints202307.0830.v1
Subject: Computer Science And Mathematics, Other Keywords: economic migrants; capabilities approach; simulation
Online: 12 July 2023 (11:56:31 CEST)
This paper starts with hypothesis (and presents some evidence) that anxiety in migrants is sufficiently important to be modelled. It presents a small (and very incomplete) review of emotion modelling in literature. It asks the question of how to translate these into agent-based modelling, and whether this can be orthogonal to specific modelling of goals and capabilities of agents. This short paper is offered as a motivator for discussion, rather than a discussion of results.
Subject: Business, Economics And Management, Economics Keywords: Islamic development; economic development; waqf
Online: 7 March 2020 (02:38:25 CET)
Muslim countries witnessed outstanding intellectual and socio-economic prosperity up to the 18th century when they fell into a period of regression following the Ottoman’s global decline. Currently, economically Muslim societies lags behind the modern western world. Scholars hold different views, including the radical notion that Islam is inherently anti-development and thus resists progress. This study discusses the Islamic philosophy and principles of development in the context of institutional economics. The basic principles of Islamic economic development drawn from the Islamic sources and historical experiences will be explored for a better understanding of Muslims’ current condition. This study addresses questions including whether basic religious precepts caused Muslims’ economic underdevelopment, while examining the development process according to Muslim perspectives. The institutions, the organizations, rules, and applications will also be explored in addition to the impact of those institutions on development. The context of development will also be evaluated according to Western value perspective. A model of Islamic economic development will be discussed in addition to the discussions of institutions that contributed to the early development of the Islamic world.
ARTICLE | doi:10.20944/preprints201804.0179.v1
Subject: Business, Economics And Management, Economics Keywords: Diversity; resource curse; economic growth.
Online: 13 April 2018 (14:18:36 CEST)
This paper contributes to the debate on the impact of economic diversity and the resource curse on economic growth. We use dynamic panel data models on data on Canadian and US sub-national jurisdictions. We find evidence for a positive relationship between diversity and growth. Based on the Krugman Specialization Index, our analysis shows that the required threshold for not having the resource curse is 0.209. Above this threshold, the marginal contribution of natural resources to economic growth is lower for a more diversified regional economy than a less diversified one. We highlight the policy implications of these findings.
BRIEF REPORT | doi:10.20944/preprints202309.0654.v1
Subject: Social Sciences, Geography, Planning And Development Keywords: PPP Loans, Economic Disparity, Gender Disparity
Online: 11 September 2023 (09:39:16 CEST)
It is well known that the size of initial loans approved by private lending agencies (banks, credit unions etc.) corresponds with the median income of the location of the individual, it also corresponds with gender. We wanted to show if it was the case with the PPP. We use standard machine learning techniques such as Lasso and found statistically significant association between gender of business owner and size of initial loan approvals for the State of Arkansas, and Least Squares Regression and Decision Tree regression to find a somewhat tenuous relationship between median income and initial loan approval amount and finally a strong association with the size of business. This has important applications for the equity of access to credit for marginalized peoples.
ARTICLE | doi:10.20944/preprints202203.0115.v1
Subject: Business, Economics And Management, Economics Keywords: tourism; islands; impact; economic development; sustainability
Online: 8 March 2022 (02:45:35 CET)
Tourism may not sustainably support territories with limited natural resource stock as islands. The volume in visitor arrivals and the industry investments can increase the pressure even beyond sustainable levels. There is an evident and unresolved tension between these two great polarities, sustainability and economic growth driven by tourism. The aim for policymakers is to find an acceptable equilibrium between these two dimensions. This paper investigates the tourism evolution between 2007 and 2019 in 15 Mediterranean islands, comparing the tourism pressures through statistical indicators. The analysis will compare tourism demand and supply trends in these contexts. The performances will be evaluated to identify the Islands positioning between sustainability needs and tourism development opportunities considering post-covid-19 challenges.
ARTICLE | doi:10.20944/preprints202105.0048.v1
Subject: Business, Economics And Management, Economics Keywords: Productive capacities; Economic resilience; Developing countries.
Online: 5 May 2021 (12:29:50 CEST)
The COVID-19 outbreak and its economic, social and financial fallouts have generated a renewed interest in finding adequate policies and means to strengthen economic resilience to future shocks, particularly in developing countries. The latter are usually disproportionately affected by adverse shocks (compared to developed countries) and lack the adequate resources to weather these shocks. Strengthening economic resilience is now at the heart of the policy discussion both at the national and international levels. The present paper aims to contribute to this debate by investigating the effect of productive capacities on economic resilience in a panel dataset of 118 developing countries over the period 2000-2018. It constructs a regression-based economic resilience indicator, and makes use of the indicator of productive capacities recently developed by the UNCTAD. Results are quite interesting, including from a policy perspective. The development of productive capacities is associated with greater economic resilience. This is particularly the case for countries with greater trade openness, greater capital account openness, and those that promote a stable macroeconomic environment. Interestingly, development aid appears to matter for the effect of productive capacities on economic resilience. On the one hand, the magnitude of the positive economic resilience effect of productive capacities increases as countries receive higher Aid for Trade (AfT) flows. On the other hand, NonAfT flows (i.e., other development aid flows that AfT flows) hinder the possible positive contribution of productive capacities to economic resilience. These findings have important policy implications that are discussed in the paper.
ARTICLE | doi:10.20944/preprints202104.0554.v1
Subject: Engineering, Automotive Engineering Keywords: residential complexes; social interactions; economic approach
Online: 20 April 2021 (17:45:42 CEST)
The quality of the environment affects human behavior, the micro-communities of human beings need creative thinking and ideas. Social environments have a significant impact on collective behaviors and social interactions. Nowadays achieving social indicators in housing with a sustainable approach is one of the goals that have been considered. The most important issue in the field of research is recognizing and examining the value of spaces in residential environments to achieve social life, in which it leads human to be social in public residential spaces. Paying attention to social relations with neighbors and people to create Social relationships are proportionate to the presence of individuals in their realm of life. The concept of neighborhood is being responsible for creating social relationships, influencing people living in the complex and community-based life. In this research, by satisfying the human need to communicate and interact with others, creating collective spaces in different scales such as commercial and recreational spaces in residential complexes, the presence of people in these spaces leads to the socialization of collective space and the factor in which the space achieves success. By explaining and identifying the components of socialization in the collective spaces of residential complexes, such spaces can be prepared for the presence of people in the space.
ARTICLE | doi:10.20944/preprints202004.0458.v1
Subject: Business, Economics And Management, Economics Keywords: COVID-19; socio-economic; impact; Bangladesh
Online: 25 April 2020 (10:31:39 CEST)
The COVID-19 has caused gigantic negative effects on populace wellbeing, society, education, and the economy in Bangladesh. The aim is to deliver a comprehensive overview of the observed and the possible impacts that could appear in the coming days. The study is based on secondary information. During the early period, due to a lack of accurate facts about the case affected and death tension up-and-down among the nations. The total number of confirmed cases is increasing following geometric patterns in Bangladesh. Dairy farmers, vegetable producers, pharmaceuticals, poultry farmers are in deep crisis due to lower prices. Also, the pandemic has seriously affected educational systems, banking, FDI, ready-made garments, remittances, etc Finally, it is not possible to mitigate the effects of pandemic individually but the integrated effort from the state authority as well as concern people of all sectors need to come forward.
REVIEW | doi:10.20944/preprints202003.0359.v1
Subject: Business, Economics And Management, Business And Management Keywords: contract farming; broiler producers; economic sustainability
Online: 24 March 2020 (11:58:03 CET)
This review has been realized within the agribusiness sector and experiments the Transaction Cost Theory a branch of the New Institutional Economy which explain market failure caused by many factors. Transaction costs are associated with carrying a transaction between buyers and sellers. This study has been conducted between 2014 and 2017; and has collected data from 11 broiler producers in Jezzine, Lebanon, about: Production costs, capital investment, revenues, land tenure, access to infrastructure, and information about the contract. The propensity score matching method is used to compare the effect of participating in contract farming and to solve the hypotheses, which say: There is a positive relationship between contract farming and the economic benefits of broiler producers and the development of the broiler sector in Jezzine District. Findings from farmer’s interviews indicated that sustainability, guaranteed price, risk reduction, credit facilities and technical aids are the main reasons for signing a contract. In contrast, Farmers have expressed problems concerning the contractors’ responsibilities such as delay in payment and delivery. Also, when prices are high, it was argued that farmers were selling the products in the open market.
ARTICLE | doi:10.20944/preprints202101.0279.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Three Seas Initiative; entrepreneurial potential; synthetic measure of economic anchor; economic lockdown; economy after COVID-19
Online: 14 January 2021 (16:17:12 CET)
This research is aimed at determining the characteristics of the current level of entrepreneurial potential of the Three Seas Initiative (3SI) countries, the ability to overcome the consequences of extraordinary events, such as COVID-19 and prospects for the return to an accelerated development once the destabiliser of the economic system, the coronavirus pandemic, has ceased. Eurostat, World Bank and the World Economic Forum data for 2015-2019 were used for the purpose of the research. The research was divided into three stages, i.e. assessment of economic development on the basis of a synthetic ratio of economic anchor development, for which a relative benchmark method based on spatial median (so-called L1 median or Weber point) was used, identification of conditions for the development of entrepreneurial capacity and statistical analysis showing the correlation between economic anchor measures and selected factors of the 3SI countries economic development. Our study found that the entrepreneurial capacity of the 3SI countries in 2015-2019 was determined by nine characteristics, belonging to six areas, i.e. local economy, demographic situation, social situation, trade exchange, innovation and tourism economy. The entrepreneurial potential of the 3SI countries was spatially diversified, and its development was determined, among others, by the entrepreneurial activity of residents (entrepreneurship index) and the conditions for running a business.
ARTICLE | doi:10.20944/preprints202309.1799.v1
Subject: Social Sciences, Behavior Sciences Keywords: Risk Perceptions; Driving; Economic Risks; Road Environment
Online: 27 September 2023 (05:35:45 CEST)
While studies that examined risk perceptions in various environments have been previously conducted, the relationship between risk perceptions measured in such environments had not been examined. Such a relationship, if found, may indicate that when one learns to identify risks in one environment, they may identify risks more easily and quickly in another.This study examined the relationship between measures of risk perception in several separate environments. The findings suggest that when learning to identify and assess risks in a particular environment, one may better identify and assess risks in a similar environment – for example, learning to identify and assess risks while driving makes it easier to identify and assess risks when crossing a road. Conversely, the findings also indicate that learning to identify and assess risks in one environment does not make it possible to better identify and assess risks in a disparate environment – for example, learning to identify and assess risks while driving does not make it easier to identify and assess risks in a workplace environment. This may also suggest that while disparate environments such as the road environment and the workplace environment are perceived as two separate environments, the road environment is experienced as one single environment by both drivers and pedestrians.
ARTICLE | doi:10.20944/preprints202309.0193.v1
Subject: Business, Economics And Management, Human Resources And Organizations Keywords: artificial intelligence; job market; automation; economic impact
Online: 5 September 2023 (03:37:39 CEST)
Artificial Intelligence (AI) stands as an emerging technology poised to reshape various facets of our daily lives, with a particularly noteworthy influence on the labor market. In Morocco, AI adoption has commenced in diverse sectors, including finance, insurance, and telecommunications, opening up fresh avenues for employment. Nevertheless, this technological shift also ushers in challenges for Moroccan workers, necessitating training and upskilling to effectively engage with AI-driven systems. Within this article, we delve into the burgeoning impact of AI on the Moroccan economy and job landscape, delving into both the opportunities and obstacles that accompany its proliferation. Furthermore, we explore strategies that authorities and businesses can employ to harness the benefits of AI while mitigating its potential adverse effects on Morocco's workforce.
COMMUNICATION | doi:10.20944/preprints202305.1381.v1
Subject: Public Health And Healthcare, Public Health And Health Services Keywords: chronic viral hepatitis; socio-economic status; children
Online: 19 May 2023 (05:07:14 CEST)
In the present research, chronic viral hepatitis in children is approached from a multidisciplinary point of view, considering social status, economic and medical aspects. We conducted a 4-year observational prospective study. A questionnaire regarding the socio-economic status of pediatric patients diagnosed with chronic viral hepatitis B or C was applied. In total, 159 patients were included, 52 % from urban areas, 2.5 % coming from centres for abandoned children. Among 119 school-aged children, 66% were attending classes. All patients are registered with a general practitioner. Regarding the monthly income per family, 49% had less than 1000 RON (5 RON = 1$), of which 17% had no income, 28% had an income ranging between 1000 and 2000 RON and in only 23% of cases the income exceeded 2000 RON (5% had more than 4000 RON). There were between 3 and 12 members per family. Concerning parents` educational level, the average years of study for mothers was 7.8, while for fathers, it was 8.2. For 17 % of children, at least one of the parents was illiterate, and for 5.6 %, both parents were illiterate. For a third of patients, both parents were unemployed. Regarding social living conditions, 38.4% did not have water facilities or sewerage, and 32 % used personal objects (scissors, nail clippers) in common. The socio-economic level can have a significant impact on disease epidemiology (infectiousness) and access to treatment, and it is tightly related to educational level and access to information, which are critical factors in disease prevention through general and specific measures and in disease management (treating infected patients and limiting the transmission).
REVIEW | doi:10.20944/preprints202205.0275.v1
Subject: Biology And Life Sciences, Ecology, Evolution, Behavior And Systematics Keywords: Circular economy; linear economic model; plastics; recycling
Online: 20 May 2022 (09:18:26 CEST)
The Circular Economy of plastics is a promising concept that has the potential to reduce pollution and close the loop on plastic waste. However, further research is needed to develop more efficient and environmentally friendly methods of recycling plastic. This review article discusses the Circular Economy of plastics, its potential benefits and drawbacks, and the challenges that need to be addressed to make it a reality. Some case studies are also examined to explore how the Circular Economy of plastics has been implemented across the globe.
ARTICLE | doi:10.20944/preprints202205.0109.v1
Subject: Biology And Life Sciences, Agricultural Science And Agronomy Keywords: economic valuation; potato; yield; profitability; climate change
Online: 9 May 2022 (08:18:11 CEST)
The objective was to estimate the monetary loss of potato producers up to the year 2100 as a result of temperature and precipitation impacts, taking into account the A2 and B2 scenarios of the IPCC (Intergovernmental Panel on Climate Change). The Pooled Production Panel Model was used, whose database was prepared taking into account climatic variables (temperature and precipitation) and agricultural variables (production, harvested area, farm-gate price) for the period 1996 - 2020, which form the independent variables of the study. The estimations used 60 observations and a total of 38 estimations were run in the econometric software EViews8, of which Equation 05 of the Production Pooled Panel Model was chosen as the best. The model obtained used temperature and precipitation forecasts from Brazil's INPE (National Institute for Space Research), validated for the study area. The results indicate a concave function between potato production (t/ha), temperature and precipitation. Finally, based on the A2 climate scenario, which is the most pessimistic and using the period 2021 - 2100, a loss for potato producers of approximately 8'927,521.48 million soles was estimated.
REVIEW | doi:10.20944/preprints202110.0200.v1
Subject: Biology And Life Sciences, Animal Science, Veterinary Science And Zoology Keywords: Newcastle disease; poultry; Pakistan; vaccine; economic affects
Online: 13 October 2021 (11:59:23 CEST)
The poultry industry is affected by many epidemics and Newcastle Disease (ND) is a constant threat, known as a devastating disease for poultry farmers around the world. According to the average death time of chicken embryos, virus strains can be classified as lentogenic, mesogenic, or velogenic. The current research will clarify the vulnerable host range as well as the epidemiology and geographic distribution of ND in Pakistan. The introduction of the virus into poultry can have serious economic consequences, including the loss of production of sick and dying poultry, the cost of control measures (such as population reduction and disinfection measures), and possible trade restrictions in the event of an outbreak. The virus is transmitted by direct contact with sick poultry or carriers. Infected birds can also spread the virus in their feces. It can also be spread through respiratory secretions, contaminated feed, equipment, water, or feces. We will also discuss vaccines that which vaccines are available for NDV in Pakistan and vaccines can fight against this disease or not? In this study, a qualitative risk analysis was carried out to assess Pakistan's vulnerability to the introduction of virulent NDV strains
ARTICLE | doi:10.20944/preprints202107.0504.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: humanitarian logistics; pandemic; economic reactivation; spatial modelling
Online: 21 July 2021 (18:27:42 CEST)
In this article we propose an application of humanitarian logistics theory to build a supportive framework for economic reactivation and pandemic management based on province vulnerability against COVID-19. The main research question is: which factors are related to COVID-19 mortality between Peruvian provinces? We conduct a spatial regression analysis to explore which factors determines the differences in COVID-19 cumulative mortality rates for 189 Peruvian provinces up to December 2020. The most vulnerable provinces are characterized by having low outcomes of long-run poverty and high population density. Low poverty means a high economic activity that leads to more deaths of COVID-19. There is a lack of supply of a set of relief goods defined as Pandemic Response and Recovery Supportive Goods and Services (PRRSGS). These goods must be delivered in order to mitigate the risk associated to COVID-19. A supportive framework for economic reactivation can be built based on regression results and a delivery strategy can be discussed according to the spatial patterns that we found for mortality rates.
ARTICLE | doi:10.20944/preprints202107.0263.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Regional Economic; Innovation-driven; Development; Spatial Characteristics
Online: 12 July 2021 (13:42:16 CEST)
This paper uses the spatial analysis software GeoDa as a tool, takes GRP (Gross regional product) of Sichuan Province in 2012 and 2018 as the dependent variable, and takes the city (autonomous prefecture) factor-driven, investment-driven and innovation-driven indicators as the dependent variable to explore the impact of innovation activities on regional economic development and the spatial distribution characteristics of regional economy. Through the comparison of the global correlation and local correlation, this paper explores the crux of the regional economic polarization and unbalanced development, and puts forward some measures to solve the existing economic development problems, such as cultivating and improving the regional industrial dependence, accelerating the regional transportation accessibility and convenience, and constructing the regional collaborative innovation system, So as to achieve the strategic goal of the construction of innovative Province in Sichuan Province.
ARTICLE | doi:10.20944/preprints202102.0013.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: anti-globalization; economic globalization; US-dominated globalization
Online: 1 February 2021 (11:28:16 CET)
Since the financial crisis in 2008, the U.S. economy has weakened, and the world economy has slowly developed. As the world's leading country, the United States has used many methods to restore the economy. But it does work efficiently. However, there are many issues in developed countries such as domestic social, economic, immigration in the United States/United Kingdom; those are not optimistic. Developed countries have entered a dilemma. The neoliberalism financial system has been unable to move forward. Populists have pointed out that those problems have been causing by globalization. Under the leadership of the Brexit Referendum, President Trump has caused a wave of anti-globalization. Under a series of systems such as the China-US trade war and the US-Mexico border wall repairs, the anti-globalization trend is getting stronger. This article mainly analyzes the in-depth reasons and mechanism research of globalization and anti-globalization alternately—the data obtained from an international method performance study. The results show that anti-globalization is temporary, along with globalization. There are three main factors affecting globalization: the situation of the dominant country, natural disasters, and wars. After so much literature review, I believe that the United States' globalization is gradually weakening, and globalization may return to regionalization under the United States' opposition.
ARTICLE | doi:10.20944/preprints202011.0473.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Poverty; Education; Economic Policy; Social Welfare; Investment
Online: 18 November 2020 (12:04:00 CET)
Underpinned by the research works on private returns on education in developing nations that have found a positive correlation between earning and subsequent level of schooling, this paper presents a concept of an investment policy which will help the impoverished children in becoming economically successful through systematic funding of their educational needs with an obligation of interest adjusted returns.
Subject: Social Sciences, Tourism, Leisure, Sport And Hospitality Keywords: COVID-19; Economic; Environment; Development; Social; Tourism
Online: 19 August 2020 (17:22:04 CEST)
The Corona Virus (COVID-19) pandemic situation has posed significant effect on tourism industry. Tourism destinations have embraced emergency health care measures and restrictions imposed on human movement around the world. Beaches and resorts are empty, peoples’ movements are stopped and travelling between territories is strictly controlled. The COVID-19 lockdown around the world has imposed negative impact on the livelihood of people and world economy as well. The present study attempts to find out the scopes for sustainable tourism development in near future from the consequences of social, economic, and environment in COVID-19 pandemic situation.
Subject: Business, Economics And Management, Economics Keywords: NPL Ratio; non-performing loans; economic recovery
Online: 12 August 2020 (10:12:13 CEST)
The goal of this paper is to explore the relationship between the specific non-performing loan ratio (NPL ratio) and the corresponding impact on the bank’s profitability and lending behavior. It also seeks to investigate the macroeconomic impacts of economies with excessively high NPL ratios as well as the efficacy and impact of alleviation measures used by banks and governments around the world to help facilitate a decrease in high NPL ratios. The possible implications and effects of the COVID-19 pandemic on NPL ratios is also addressed in this paper. It is found that when excessively high NPL ratios go unaddressed, the economy tends to suffer. On the other hand, this study shows that when measures are taken to reduce or eliminate the high NPL ratios, economic performance improves, and the reduction has a clear positive impact on the economy.
ARTICLE | doi:10.20944/preprints202003.0003.v1
Subject: Business, Economics And Management, Econometrics And Statistics Keywords: trade; conversion factors; price rate; economic growth
Online: 1 March 2020 (02:57:28 CET)
The impact of monetary policies and their implementation by exchange rate covered the economic condition of Ghana. The social inclusion and conversion factors change the implemented policies of nations, where the real price, trade, technology, a price rate and price level of ratio take an important part of growth. The reform of the financial sector favors the free floating of the exchange rate and global trade by under the premise of flexible exchange rates. The tragedy of country growth and exchange rate toward a trajectory of growth with the growth-enhancing effect through social inclusion, conversion factors, price level ratio, exchange rate, merchant rate, export and trade services. The research study is based on secondary study and social inclusion equity indicators with public resources, building human resources and social protection for economic development has determined. The monetary policies are classified by the different evidence and trade indicators. The significant influence of growth and internal policies has affected trade and exchange rates with growth and reserve policies. The results have computed by linear regression and it proved that social inclusion and alternative conversion factors impact on the global trade and create short term binary relationship.
ARTICLE | doi:10.20944/preprints201807.0511.v2
Subject: Business, Economics And Management, Economics Keywords: economic complexity; non-linear map; Bipartite networks
Online: 18 September 2018 (06:13:25 CEST)
We present a new method of estimating fitness of countries and complexity of products by exploiting a non-linear non-homogeneous map applied to the publicly available information on the goods exported by a country. The non homogeneous terms guarantee both convergence and stability. After a suitable rescaling of the relevant quantities, the non homogeneous terms are eventually set to zero so that this new method is parameter free. This new map reproduces the findings of the method proposed by Tacchella et al. , and allows for an approximate analytic solution in case of actual binarized matrices based on the Revealed Comparative Advantage (RCA) indicator. This solution is connected with a new quantity describing the neighborhood of nodes in bipartite graphs, representing in this work the relations between countries and exported products. Moreover, we define the new indicator of country net-efficiency quantifying how a country efficiently invests in capabilities able to generate innovative complex high quality products. Eventually, we demonstrate analytically the local convergence of the algorithm.
ARTICLE | doi:10.20944/preprints201804.0042.v1
Subject: Environmental And Earth Sciences, Geography Keywords: geospatial economic supply; biomass; risk assessment; vulnerability
Online: 4 April 2018 (04:17:33 CEST)
Assessing the economic supply of biomass in a geospatial context while accounting for risk from natural disasters was studied. Risk levels were estimated from a component of factors which included: population density, road density, federal ownership, U.S. Environmental Protection Agency ecoregions, and Presidential Disaster Declarations. The Presidential Disaster Declarations included risks due to: coastal storm, drought, fire, flood, freezing, hurricane, mud land slide, severe ices, severe storms, snow, tornado, and tropical storm. Presidential Disaster Declarations included summaries based on a short-term time period from 2000-2011, and on a long-term time period from 1964-2011. Risk categories were developed as a function of the number of disaster declarations, agricultural-to-forest land ratio, average road density, and average population density. A significant contribution of the research was the allocation of spatially explicit data using GIS technology at the 5-digit zip code tabulation area. The average area for 5-digit ZCTAs in the Eastern U.S. study region was approximately 169 kilometers2. Long-term risk (1964-2011) from disaster declarations had a greater impact on the economic availability of biomass supply relative to short-term declarations (2000-2011). The greatest risk to biomass supply came from population density relative to the other risk factors studies. Of the 25,044 total ZCTAs, 12,256 ZCTAs were in locations that did not include population density ≥ 150/km2, road density ≥ 14 km/km2, federal ownership, and US Environmental Protection Agency Level III ecoregions. Of the remaining 12,256 ZCTAs, 26.8% were considered to be moderate-to-high risk based on short-term declarations (2000-2011) and 29.4% were considered to be moderate-to-high risk based on long-term declarations (1964-2011). Lower risk locations for procuring biomass supply for both short-term and long-term declarations, across all risk factors, were in southern Georgia, South Carolina, and Texas.
ARTICLE | doi:10.20944/preprints201703.0143.v1
Subject: Social Sciences, Law Keywords: entrepreneur, individual entrepreneur, sole proprietor, economic subject
Online: 17 March 2017 (21:53:12 CET)
An entrepreneur is a business-able physical person who performs activities to gain the profit and who is registered according to law. Starting from the national and theoretical and legal solutions and court practice from comparative law, the authors analyze the concept and the legal position of an individual entrepreneur noticing the problems and inconsistencies in legal regulations. The authors of the work make a few conclusions and suggestions: 1) terminology is not coordinated with legal terminology from comparative law. In our law, the legal term is “entrepreneur”, which is a too wide and unspecified term because in economic profession this term represents the genus term for individual and collective entrepreneurship; 2) analyze all forbidden activities for entrepreneurs, judge the reasons pro et contra and work on eliminating prohibitions and favouring legal entities; 3) set by law the bankruptcy of an individual entrepreneur i.e. the individual bankruptcy of a physical person; 4) work on passing a separate legislation in the field of the individual entrepreneurship, especially on passing and changing the laws which would regulate handicrafts (including old crafts and jobs of home industry), free professions as well as agricultural activity.
ARTICLE | doi:10.20944/preprints202112.0466.v1
Subject: Environmental And Earth Sciences, Environmental Science Keywords: farm animal; pig; livestock production; global warming; climate change; economic risk assessment; economic impact; resilience; livestock farming; adaptation
Online: 29 December 2021 (12:23:22 CET)
Economic risks for livestock production are caused by volatile commodities and market conditions, but also by environmental drivers like increasing uncertainties due to weather anomalies and global warming. These risks impact the gross margin of farmers and can stimulated investment decisions. For confined pig and poultry production, farmers can reduce the environmental impact by implementing specific adaptation measures to reduce heat stress. A simulation model driven by meteorological data was used to calculate heat stress impact as a projection for 2030. For a business-as-usual livestock building, the indoor climate for several adaptation measures was calculated. The weather-related value-at risk quantified the economic risks caused by global warming and the stochastic component of the weather. The results show that only energy-saving adaptation measures to reduce the inlet air temperature are appropriate to reduce the economic risk to the level of the year 1980. The efficiency of other adaptation measures to reduce heat stress is distinctly lower. The results in this study can support the decision making of farmers concerning adaptation management and investments. It can inform agricultural policy design as well as technological development.
ARTICLE | doi:10.20944/preprints202309.0256.v1
Subject: Social Sciences, Geography, Planning And Development Keywords: Sustainable development; Energy management; Environmental protection; Economic management
Online: 5 September 2023 (08:11:19 CEST)
This investigation delves into an examination of the growth dynamics observed in Central Taiwan Science Park (CTSP) and Silicon Glen in Scotland, with a specific focus on their energy, environmental, and economic management. The aim is to predict and evaluate the latest advancements and applications of technology. In terms of energy, CTSP focuses on Taiwan's supply security and green transformation challenges, while Silicon Glen emphasizes Scotland's wind energy generation technologies. Both regions are committed to the development of renewable energy and smart grids. Regarding environmental aspects, CTSP and Silicon Glen prioritize environmental protection and sustainable development by implementing measures for environmental monitoring. In terms of economic management, CTSP, and Silicon Glen serve as key technology industry hubs This investigation delves into an examination of the growth dynamics observed in Central Tai-wan Science Park (CTSP) and Silicon Glen in Scotland, with a specific focus on their energy, environmental, and economic management. The aim is to predict and evaluate the latest advancements and applications of technology. In terms of energy, CTSP focuses on Taiwan's supply security and green transformation challenges, while Silicon Glen emphasizes Scotland's wind energy generation technologies. Both regions are committed to the development of renewable energy and smart grids. Regarding environmental aspects, CTSP and Silicon Glen prioritize environmental protection and sustainable development by implementing measures for environmental monitoring. In terms of economic management, CTSP, and Silicon Glen serve as key technology industry hubs in Taiwan and Scotland, respectively, attracting numerous high-tech and startup enterprises. Various means facilitate the growth of industries and foster innovations in different industrial spheres. Important factors contributing to this growth include policy support, availability of research materials, and provision of infrastructure. This research paper compares the successful case studies of two industrial parks, along with their environmental and economic management strategies. It explores the management principles that ensure the sustainable development and economic growth of industrial parks, aiming to assist decision-makers and relevant stakeholders in evaluating the sustainable development planning of industrial parks.
ARTICLE | doi:10.20944/preprints202308.0503.v1
Subject: Business, Economics And Management, Business And Management Keywords: economic growth; environment; municipal waste; waste management; Bulgaria
Online: 7 August 2023 (10:47:59 CEST)
This paper examines the relationship between GDP per capita and waste generated in European Union countries, highlighting the importance of this relationship for understanding the environmental consequences of economic growth and formulating waste management policies. The analysis findings demonstrate that, in most cases, higher GDP is associated with higher amounts of waste, although there are exceptions to this trend. A smaller number of countries are also found where no such relationship exists. These are primarily high-income countries in the lower part of the EKC or countries in transition. Cluster analysis reveals regional differences in the relationship between GDP and waste that the economic factors and the level of development in the regions concerned can explain. Bulgaria is among the European countries with the lowest economic growth associated with a large amount of waste. The analysis, therefore, focuses on Bulgaria. The impact of GDP per capita, Human Development Index and Population Density on municipal waste in Bulgaria is studied. The aim is to identify significant relationships and dependencies between these factors and the amount of waste. Based on the results of multiple regression analysis and the findings from municipal waste management data in Bulgaria, specific actions are proposed for municipal waste management in the country. Recommendations are made for developing sustainable waste management policies and sharing best practices between regions.
ARTICLE | doi:10.20944/preprints202307.2107.v1
Subject: Engineering, Civil Engineering Keywords: roof; insulation; granary; carbon emission; economic analysis model
Online: 31 July 2023 (10:53:15 CEST)
The optimization design of buildings is very important the energy consumption, carbon emissions ,and sustainable development of buildings. The low-temperature granary has low grain storage temperature and high energy consumption indexes. The design scheme of roof insulation for low-temperature granary should be determined in actual building design processes by considering economy, carbon emissions, and outdoor climate, comprehensively. In this paper, the low-temperature granary roof insulation for different ecological grain storage zones in China are optimized by using a new low-carbon optimization design method. The low-carbon optimization design method can response to the economical issue, emission reduction issue, and outdoor climate issue, simultaneously. The application results of the optimization design method in ecological grain storage zones in China indicate that outdoor climate has significant impacts on the economic performance and carbon reduction effect of roof insulation. The considering of carbon emission cost can apparently increase economic efficiency of roof insulation. The optimal economic thickness of expanded polystyrene (EPS) in Urumqi, Harbin, Zhengzhou, Changsha, Guiyang and Haikou cities is 0.025 m, 0.037 m, 0.085 m, 0.097 m, 0.072 m and 0.148 m, respectively. The different outdoor climates of seven ecological grain storage areas in China have important influences on the comprehensive economic performances of low-temperature granary roof insulation. The design of low-temperature granary roof insulation in Haikou city has the best economic performances among the seven ecological grain storage zones in China.
REVIEW | doi:10.20944/preprints202307.1964.v1
Subject: Medicine And Pharmacology, Pharmacy Keywords: economic evaluation; cost-effectiveness; glucosamine; osteoarthritis; systematic review
Online: 28 July 2023 (11:25:01 CEST)
The osteoarthritis (OA), the main cause of disability, is a chronic condition that most frequently affects older adults. As the population ages, the cost of treatment is placing pressure on the healthcare budget. As a result, it is imperative to evaluate the medicines' cost-effectiveness and the influence they have on health resource allocation. Hence, our study aims to summarize the cost and outcome of utilizing glucosamine in OA treatment. Authentic databases like Medline, Cochrane, and Scopus were adopted for the identification process up until July 2023. Our primary inclusion criteria centered on the economic evaluation of Glucosamine in OA treatments with provided the incremental cost-effectiveness ratio (ICER) at least. The Quality of Health Economic Studies (QHES) instrument was applied to grade the quality of the studies. A total of 7 qualified studies were selected and discussed the cost-effectiveness of glucosamine with or without other formulations. All of them demonstrated that glucosamine was cost-effective. There was an in-creasement of QALY when incorporating Glucosamine into conventional care. Moreover, Crystalline Glucosamine Sulfate (pCGS) was more cost-effective than the Other Formulations of Glucosamine (OFG). In overall, utilizing pCGS was more beneficial than OFG in terms both of cost and quality of life.
REVIEW | doi:10.20944/preprints202305.1748.v1
Subject: Business, Economics And Management, Business And Management Keywords: Entrepreneurial enterprises; SME; economy; economic growth; job creation
Online: 25 May 2023 (07:10:40 CEST)
This article explores the Role and Contributions of Small and Medium Enterprises (SMEs) in a globalized and innovative economy, looking specifically at the challenges and opportunities. The establishment and expansion of new firms provides a sizable amount of net new jobs. While high-expectation entrepreneurial enterprises and gazelles are usually found among innovative and technology-based new organizations, it is also essential that there be a sizable supply for them to play a significant part in economic growth. In other words, encouraging all forms of en-trepreneurship is likely to increase the number of innovative, fast-growing enterprises as well as entrepreneurship. In many European countries, entrepreneurship needs to be encouraged. Findings show the crucial role the SME sector plays in the South African economy in tackling sustainable development. About 90% of all official firms in South Africa are thought to be small, medium, or micro-enterprises. The study concluded that one of the major contributions to the South African economy is the SME sector. The SME is not just viewed as a source of new jobs, but also as a sector that absorbs laid-off workers from both the private and public sectors.
ARTICLE | doi:10.20944/preprints202305.0988.v1
Subject: Business, Economics And Management, Economics Keywords: COVID-19; Vaccine hesitancy; Implication; Consequences; Economic recovery
Online: 15 May 2023 (07:37:36 CEST)
The phenomenon of vaccine hesitancy is a growing threat to public health with far-reaching implications. The widening gap between the vaccinated and the proportion needed for herd immunity raises two critical research questions that are of interest to practitioners, researchers, and policymakers: (1) What determines one’s decision to be vaccinated? and (2) What is the implication of COVID-19 vaccine hesitancy on economic recovery? In this study, we use empirical data in the context of South Africa to investigate factors affecting COVID-19 vaccine hesitancy and their implications for economic recovery. Findings reveal key socio-demographic and institutional drivers of COVD-9 vaccine hesitancy, which include age (the youth are more hesitant), inadequate information on the vaccine (those who perceive they have adequate information are vaccinated), trust issues in government institutions, conspiracy beliefs, vaccine-related factors, and perceived side effects associated with the vaccine. Additionally, an individual’s decision to remain hesitant about COVID-19 vaccination has implications for businesses and the economy by limiting movement and trade, increasing unemployment, and causing a resurgence of new variants. Based on the findings, action plans such as information dissemination, convenience vaccination centers, consistency communications, and targeted campaign strategies are recommended for improving vaccine intakes and a positive economic recovery.
ARTICLE | doi:10.20944/preprints202209.0408.v1
Subject: Engineering, Automotive Engineering Keywords: Public transportation; Automated vehicles; economic viability; business model
Online: 27 September 2022 (03:37:23 CEST)
During the past few years many projects and initiatives were undertaken deploying and testing automated vehicles for public transportation and logistics. However in spite of their ambition, all of these deployments stayed on the level of elaborated experimentation deploying no more than 4 maximum 5 AVs in rather small sites (few Kms of roads) and never really reached the level of large scale “commercial” deployment of transport services. The reasons for this are many, but the most important being the lack of economically viability and commercially realistic models, the lack of scalability of the business and operating models, and the lack of inclusive citizen/user centric services required for the large end-user acceptation and adoption of the solutions. In this paper, based on the experience gained in the H2020 AVENUE project, we present the missing pieces of the puzzle, ad which will be addressed in the Horizon Europe project ULTIMO.
ARTICLE | doi:10.20944/preprints202209.0093.v1
Subject: Medicine And Pharmacology, Cardiac And Cardiovascular Systems Keywords: Polypharmacy management, COVID -19, Gender medicine, economic perspective
Online: 7 September 2022 (02:29:58 CEST)
Background: Covid-19 patients with any pre-existing cardio-vascular disease (CVD) are at highest risk for viral infection and for developing of severe disease. Pathophysiological mechanism is characterized by the viral link to Angioten-sin-Converting Enzyme 2 (ACE2) and the involvement of the endothelial system with the release of cytokines and direct damage on myocardium, micro throm-bosis, and alterations of oxygen diffusion. Aim of the study is to analyze clinical course, treatment and outcome in patients (gender stratified) with pre-existing CVD. Methods: Out of the 1299 (700 M/599 F) patients admitted to Internal Medicine COVID Unit of “Castelli Hospital”, Lazio, Italy, from 01/01/2021 to 31/12/2021, 278 patients (167 M/111 F), mean age 76 (76 M/ 75 F) had previous CVD. Demographic characteristics, length of the stay (LOS) and oxygen therapy were evaluated. Results: Most common CVD pathologies were Hearth Failure (HF): 131 (72 M/59 F), Atrial Fibrillation (AF): 45 (25 M/20 F), Myocardial Infarction (MI): 26 (19 M/7 F) and associations among them. 100% of CVD COVID patients under-went Non-Invasive Ventilation (NIV) and were treated with more than 5 drugs. HF was linked with increased LOS (23 days) compared to AF (21 days), MI (18 days) and no CVD (16 days). Overall mean LOS was 16,5 days. 21,4% of total pa-tients had CVD. Conclusions: Timely identification and evaluation of patients with pre-existing CVD are fundamental for adequate treatment based on gender, severity and state of illness and for risk reduction. Keywords: polypharmacy, gender medicine; COVID 19; Sars CoV 2; cardiovas-cular disease.
REVIEW | doi:10.20944/preprints202206.0386.v1
Subject: Social Sciences, Behavior Sciences Keywords: Emerging economies; Economic development; Renewable and sustainable energy
Online: 28 June 2022 (10:43:23 CEST)
The last few years have witnessed an explosion of research on Sustainable development. Most of this research is concentrated on the developed countries related to the issues not compatible with developing countries. This paper fills the gap and reviews the literature related to developing and emerging economies and their environmental and social constraints under Renewable energy and sustainable development (RESD). It also investigates how RESD can be implemented in the presence of serious issues pertaining to population increase, shortage of energy supply, lack of transportation, shortage of clean water, less food production and bad environmental systems and these are coupled with war, and hunger and political instability. The main contribution of this paper is to present extensive discussion in the context of hypotheses of economic growth and its association with energy consumption, and renewable energy options for sustainable development.
ARTICLE | doi:10.20944/preprints202111.0061.v1
Subject: Business, Economics And Management, Economics Keywords: Economic well-being; Poverty alleviation; Quantitative data analysis
Online: 3 November 2021 (08:17:17 CET)
The goal is to reduce poverty, the method used is a literature study to see the effect of using Financial Technology (Fintech) on financial inclusion, method to see the effect of financial inclusion on poverty. From the results of the tests, the use of Fintech can increase financial inclusion, thereby encouraging poverty alleviation. It can be seen that the Financial Inclusion variable has a significant and negative effect on the poverty variable. This shows that countries that have high levels of financial inclusion are generally estimated to have low poverty rates. Increasing a country's financial inclusion can reduce poverty.
ARTICLE | doi:10.20944/preprints202109.0029.v1
Subject: Business, Economics And Management, Economics Keywords: Sawn wood; Socio-economic; Timber marketing; Forest enterprise
Online: 1 September 2021 (16:16:19 CEST)
Forest enterprise has been identified as a means of generating income among people; plays a vital role in enhancing the quality of life of forest-dependent people. Despite the opportunities timber marketing offers the people, the disparities in the income generation of the marketers in the Bodija sawn wood Market and the effect of socio-economic factors on income generation of the marketers is not well understood. This study was conducted to assess the socio-economic determinants of contributions of timber marketing to the income of timber merchants in Bodija sawn-wood Market. One hundred structured questionnaires were administered randomly in five zones of the sawn wood Market to obtain information on the socio-economic background of the sawn wood marketers and the contribution of timber trade to their incomes. The result indicated that 99.0% of the respondents were male while females constituted 1.00%. Seventy-five percent of the marketers had post-primary education and 25% had primary education. Two percent of the marketers had below 10 years of marketing experience, twenty-six percent had between 11 and 20 years, 57.00% had between 21 and 30 years, and 15.00% had more than 30years experience. Fifty-eight percent of the respondents earned between ₦10000-₦60000 (1US$ = 360.00) from timber marketing, thirty-one percent earned between ₦60001 and ₦110000, 7% earned between ₦110001 and ₦160000, while 4% earned above ₦160000 per month. Chi-square analysis of the socio-economic characteristics of the respondents and income generation at α level of 0.05 indicated that ethnicity (0.001) and years of experience (0.009) significantly influenced income while the level of education (0.101), age (0.122), and religion (0.745) had no significant influence on the incomes of marketers. Experience is an important factor in sawn wood marketing and a major determinant of the contribution of timber marketing to the income of timber marketers in Bodija sawn wood Market.
Subject: Engineering, Automotive Engineering Keywords: Pyrolysis; Life cycle assessment; Techno-economic assessment; sludge
Online: 26 July 2021 (10:06:50 CEST)
The increasing amount of municipal sludge in China requires safe and effective management to protect human health and ensure environmental sustainability. Pyrolysis is a thermochemical process that that decompose organic matter at elevated temperature and under anaerobic conditions, and it has attracted an increasing attention in sludge treatment in the recent years. However, comprehensive environmental and economic assessment of sludge pyrolysis in China's context is rare, due to the small quantities of full-scale sludge pyrolysis plant. In this paper, we applied our design and operation parameters of full-scale sludge pyrolysis plants to generate the material and energy consumptions of the pyrolysis system under various of conditions, including sludge organic content and moisture content, system size, system energy distribution, and whether or not heat substitution is applied. Life cycle assessment and techno-economic assessment were then applied to investigate the environmental and economic performance of the system Our results demonstrate the significant environmental and economic impacts associated with sludge properties and system size. Generally, sludge with higher organic content and lower moisture content requires less natural gas consumption, which leads to a simultaneous improvement of the system environmental and economic performance. The system economic performance is more sensitive to the system size, and centralized sludge handling using a larger pyrolysis is more economic favorable. In the most ideal case, the average global warming potential and minimum sludge handling price of sludge pyrolysis could be as low as -32.5 kg CO2-Eq/t DS and 188.8 $/t DS, respectively. Based on these results, we discussed the pathways that could be taken to further optimize the environmental and economic performances of the pyrolysis system.
ARTICLE | doi:10.20944/preprints202105.0469.v1
Subject: Environmental And Earth Sciences, Environmental Science Keywords: Environmental Entrepreneurship; Poverty alleviation; Green Entrepreneurship; Economic growth
Online: 20 May 2021 (09:55:06 CEST)
World Economy today depends on business investments that are propelled by Green technology, innovations and entrepreneurial activities. In recent years, developing economies in Asia, Africa and Latin America have embarked on easy capital access to Small Medium Enterprises (SMEs) to facilitate their economic growth. Kenya is among the Middle Level Income Countries that have gained global recognition through entrepreneurial innovations. In this study we assess the role of entrepreneurship towards poverty alleviation in Kenya. The objectives of the study were: to evaluate the role of entrepreneurship in poverty alleviation in Kenya; to identify entrepreneurship innovations and their economic contribution in Kenya and to determine the significance of entrepreneurship to Kenyan economy. Methodology of study took a parametric approach through pure desktop studies on entrepreneurship cases in Kenya. Success case studies of entrepreneurial innovations like M-pesa, M-soko and Uwezo Fund initiatives were assessed. The paper notes that activities undertaken in each of these case studies have made great contributions to poverty alleviation and economic development in both urban and rural areas of Kenya.
ARTICLE | doi:10.20944/preprints202103.0469.v1
Subject: Business, Economics And Management, Accounting And Taxation Keywords: Economic impact; uncertainty; COVID-19, productive system, Spain
Online: 18 March 2021 (10:50:16 CET)
Background: The COVID-19 pandemic has hit the Spanish economy hard. The result is an unprecedented economic and social crisis due to uncertainty about the remedy, and due to the socio-economic effects on people’s lives. Methods: We performed a retrospective analysis of the macro-economic impact of COVID-19 in 2020, using the principal indicators of the Spanish economic and productive model. National statistics were examined in the search for impacts or anomalies occurring since the beginning of the pandemic. To estimate the strength of the impact on each of the indicators analysed, we used Bayesian structural time series. Results: In 2020, the cumulative impact on the Gross Domestic Product was of -11.41% [95% credible interval: -13.46; -9.29]. The indicator for Business Turnover fell by -9.37% [-12.71; -6.07]. The reduction in business activity was related to the sharp fall in demand. The Spanish employment market was strongly affected; our estimates showed a cumulative increase of 11.9% [4.27; 19.45] in the rate of unemployment during 2020. The autonomous communities which are economically the most heavily dependent on the services sector were those which recorded the worst indicators. Conclusions: Our estimates portray a dramatic situation in our country, and show all too clearly the fragility of a productive system which has to make the behavioural changes that are necessary to confront the COVID-19 pandemic.