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.

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) [1], and Le and Suruga (2005) [2]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.

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.

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.

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.

The financial inclusion, including all the people with the finance, is very concerned issue all over the world where Bangladesh is also trying to include all the people with the finance. Bangladesh lies in such a group of countries where only 17.6% - 38.6% adults are presently under the reach of the formal financial services. This is because the present banks and other formal financial modes consider the outcome and profitability in a way that, the rural and non-developed areas are always out of the consideration. But these areas consist of the most population of Bangladesh. And only then financial inclusiveness will be successful in Bangladesh when people from these regions will be under formal financial consideration. The paper seeks for a solution to the issue and presents the Unit Banking System as a probable way towards financial inclusion. For implementing the system in Bangladesh, the system needs a slight modification to cope in Bangladeshi economic condition and address the specific needs without hampering the surroundings. Considering all these, the paper shows the status, problems and key points of financial scenario of inclusion in Bangladesh and shows policy for a Modified Unit banking System.

As of 26 March 2020, Pakistan had 1179 cases of COVID-19, with most 421 cases from Sindh, 394 cases, 131 cases, 123 cases, 84 cases, 25 cases and 01 cases from Punjab, Balochistan, Khyber Pakhtunkhwa, Gilgit-Baltistan, Islamabad Capital Territory, and Azad Jammu and Kashmir respectively. Travel-related cases were the main source of SARS-CoV-2 infection during the early phase of the pandemic in Pakistan. Nevertheless, cases of local virus transmission are increasing day by day. As of 26 March 2020, nine deaths have been reported from COVID-19. The case fatality rate is 0.8%, which is less compare to China, Italy, USA, and Iran. The SIR (Susceptible-Infected-Recovered) model of epidemiological analysis predicts that almost 90 million population will be infected in the coming days with 5% critical cases that need health care facilities. However, the Pakistan health care system cannot provide services to this much population. Hence, we need to act timely to reduce this number by restricting local transmission of the disease. This can be done by mass testing, quarantine, isolation and social distancing of the active coronavirus cases in Pakistan. Moreover, better communication between the authorities is very much required to control disease transmission.

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.

A techno-economic model was developed to investigate the influence of components on the system costs of redox flow batteries. Sensitivity analyses were carried out based on a example of a 10 kW/120 kWh vanadium redox flow battery system and the costs of the individual components were analyzed. Particular consideration was given to the influence of material costs and resistances of bipolar plates and energy storage media as well as voltages and electric currents. Based on the developed model it was possible to formulate statements about the targeted optimization of existing battery systems and general aspects for future developments of redox flow batteries.

The “Pay-as-you-throw” scheme, PAYT, is an economic instrument of waste management that implements the “polluter pays” principle by charging inhabitants of municipalities according to the amount of residual, organic and bulky waste they send for third-party waste management. When combined with well-developed infrastructure to collect the different waste fractions (residual waste, paper and cardboard, plastics, bio waste, green cuttings, many recyclables) as well as with a good level of citizen’s awareness, its performance has frequently been linked to high collection rates of recyclables. However, the establishment and operation of PAYT systems can require significant resource inputs from municipalities. In this paper, PAYT is analysed through a case study from the German County of Aschaffenburg, covering nearly 20 years of implementation across 173,000 inhabitants. Key performance indicators applied include temporal trends in the county’s recyclables collection rate, waste treatment fees for residents and municipal waste management costs, benchmarked against German municipalities not implementing PAYT.

The objective of this study is to determine the impact of COVID-19 on the performance of Pakistani Stock Market. This study uses the data of COVID-19 related positive cases, fatalities, recovers and the closing prices of PSX 100 index of the first half of 2020. The findings of the study suggest that only COVID-19 recoveries are influencing the performance of the index and the daily positive cases and fatalities are insignificantly related to the performance. Further studies can be performed by incorporating other variables such as economic growth, interest rate and inflation rate along with the COVID-19 related variables at a cross-country level.

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.

The technologies influencing alternative ways of transportation are augmenting in recent years as the need for transportation is increasing rapidly due to urbanization and motorization. In this paper, a solar powered electric auto-rickshaw (SPEA) is designed and developed for Indian conditions. The developed vehicle is comprehensively analyzed techno-economically for its viability in the Indian market. The performance analysis of SPEA results in an optimal charging rate of 2 kWh per day with an average solar irradiance of 325 W/m2. The discharging characteristics are studied based on different loading conditions. The vehicle achieved a maximum speed of 21.69 km/h with battery discharge rate of 296W at 90kg load and also reached a maximum discharge rate of 540W at 390kg loading with a maximum speed of 12.11 km/h. The environmental analysis of SPEA displayed yearly CO2 emissions of 1,777 kg, 1,987 kg and 1,938 kg using Compressed Natural Gas, Liquefied Petroleum Gas and gasoline engines respectively can be mitigated using SPEA. The results of financial analysis of SPEA were welcoming as the investor gets 24.44% lesser payback duration compared to gasoline run vehicle. Socio-Economic analysis of SPEA discussed its significant advantages and showed 18.73% and 3.9% increase in yearly income over gasoline driven and battery driven vehicles.

Kei-apple (Dovyalis caffra L) is an indigenous fruit tree of southern Africa. It is currently found in the dry, wooded grassland and forest edges of the arid and semi-arid regions of the world. Existing literature have mainly focused on the medicinal and nutritional as well as phytochemical characterization of Kei-apple. Thus, this review highlights beneficial economic prospects of Dovyalis caffra and its contribution to the economic prosperity. It is a drought tolerant plant with diverse uses such as income from the sale of the fruit, cultivated as a fence or to form an impenetrable hedge while the leaves are used for nutrient leaching prevention, fodder and compost making. The trunk of Dovyalis caffra serves as a good source of hard wood for fuel, house building and furniture making. It is also a good apicultural fruit tree and an excellent habitat and fertilizer derivation agent for farming activities. Considering the multidimensional effect of poverty and the food insecurity on many rural communities globally, there is a need to explore the potentials by encouraging the cultivation of Dovyalis caffra to assist with reducing unemployment, food insecurity and income-poverty problems in the arid and semi-arid areas of the world.

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.

This paper models the factors explaining households members economic well-being in Burkina Faso, with a focus on the relative influence of gender inequality in literacy status. It does so, using data from the 2014 survey on household living conditions and a semi-parametric bi-variate sample selection modeling approach. This approach compared to the classic Heckman two-step estimator is methodologically innovative because it deals simultaneously with non-random sample selection using conventional systems of two equations, non-linear covariates' effects using spline approach, and the non-normal bivariate distribution using copula functions. The graphical results from the Lorenz curves combined with the numerical Atkinson and Gini coefficients suggest that inequality in overall per-capita consumption spending among households headed by literates is higher than that of their illiterate counterparts in 2009 and 2014. However, independently of the head of household’s literacy status, the level of inequality in total economic well-being decreased from 2009 to 2014. Using the poverty indices of Watts, Sen, Foster ( alpha= 1)) we found that poverty among households headed by literates is lower than that of their illiterates counterparts for both years, although overall poverty decreased nationally between 2009 and 2014. The results also show that although the gender inequality in literacy status does not translate into inequalities in non-food wellness, it does however for food-wellness as female headed households have 38.9% less per-capita food consumption spending than their men counterparts. Combining both food and non-food consumption spending, total economic well-being also seems to exhibit gender inequality as female headed households now have relatively 26.7% less combined per-capita consumption spending.

Dwindling Economy is otherwise known as depression economy or economy depression interchangeably and/or recess economy. It is an occurrence wherein an economy is in a state of financial turmoil, often the result of a period of negative activity based on the country’s Gross Domestic Product (GDP) rate. However, this has become a global phenomenon; a good example of a necessitating factor is the global oil crash market and pandemics virus (Covid-19) ravaging the human race. That has conjointly led to the decline in the GDP growth per capital of a country; which forces degradation in the performances of economic sectors, retrenchment of staff and wrapping-up of industries. It is a lot worse than a recession, with GDP falling significantly, and lasts for periods of time. Pen ultimately, Nigeria has been in deteriorating financial state for years; her economy in the last few years has been going through some turbulence. A country that had recorded an average GDP growth of 6.5 per cent, one of the highest in the world less than a decade ago, is now projected to grow at about 2.3 per cent in 2016. It is no longer news that Nigeria's economy is experiencing total collapse and if nothing is done to put the peg in the right spot something worse than what we are witnessing may soon be on sight. Based on some of all these issues and other, Nigeria was said to be technically recess.In this paper, efforts were made to explore the state of the Nigeria economy in the last 36 years (1981-2017) and correlate it with the recent phenomena that conjointly constitute to its dwindling economy. Our comprehensive and elusive literary survey and extemporariness suggested way forwards to rescue the raveling situation of Nigeria dwindling economics, if not providing lasting solution but temporarys’ one that could stand test of time.

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.

In the past few decades, the tourism sector has emerged as a significant economic activity in island nations, particularly in tropical regions. However, most of the tropical islands face similar constraints. National and international tourists visit the SIDS including A & N Islands and contribute to the GDP to significant share. The Covid-19 outbreaks in SIDs including A & N islands shows that number of people infected were less as compared to metros or big cities. However, tourism activities completely stopped due to lockdown resulting in decreasing tourist’s arrival, declined GDP and per capita income of SIDs to greater extent. The information gathered from various sources, mass media and net analysed and interpreted in this chapter. Due to Covid-19 tourist’s arrival declined which has serious consequences on the livelihood of islander. Our analysis revealed A&N Islands deficit in energy available at from different sources by 18.26%. However, they are surplus in protein. The burden of high expenditure coupled with poor infrastructure makes them more vulnerable in the circumstance of pandemic outbreaks. This outbreak has created the question of survival due to loss of jobs, halted economic activates, psychological, health unrest and livelihood threats among the depending people of these Island nations. Therefore, government interventions and subsidized package is very much essential to revive the tourism industry.

The aim of this cross-country research is to examine how the profit and loss sharing mudarabah investment deposits are classified and disclosed in the financial statement of Islamic banks. The cross-country study examined the financial statements of fifty-one fully-fledged Islamic banks. The results of the data analysis show that Islamic banks disclose the mudarabah investment account in different ways. The absence of standardized disclosure for mudarabah investment deposit confuses the stakeholders. This research suggests to the regulators to fully or partially adopt the AAOIFI standards specifically for Islamic financial institutions.

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.

This study examines the effect of market risk on the financial performance of 31 non-financial companies listed on the Casablanca Stock Exchange (CSE) over the period 2000-2016. We utilize three alternative variables to assess financial performance, namely return on assets, return on equity and profit margin. Next, we use the degree of financial leverage, the book-to-market ratio, and the gearing ratio as market risk variables. Besides, we employ the pooled OLS model, the fixed effects model, the random-effects model, the difference GMM and the system GMM models. The results show that market risk indicators have a negative and significant influence on the companies' financial performance. The elasticities are greater following the book-to-market ratio compared to the degree of financial leverage and the gearing ratio, respectively. In most cases, the firm size, the tangibility ratio, and the cash holdings ratio have a positive effect on financial performance, whereas the firms' age, the debt-to-income ratio, stock turnover, and leverage hurt the performance of these non-financial companies. Therefore, decision-makers and managers should mitigate market risk through appropriate strategies of risk management, such as derivatives and insurance techniques.

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.

The COVID-19 crisis has emphasized the importance of digital transformation of SMEs and has served as an accelerator. Digital transformation empowers SMEs to rethink the way they make decisions and apply technology in meaningful and sustainable ways. The purpose of this study is to explore the role of digital transformation, fostered by COVID-19, and its potential contribution to the sustainability of SMEs. This paper examines a new conceptual framework designed on resource-based theory perspectives by using a survey data of 246 SMEs in Latvia and employing mediation analysis. The main findings of the study are that digital orientation and digital capability have direct positive effects on digital transformation; higher levels of digital orientation and capability, mediated by digital transformation, lead to higher revenue; as well as a more sophisticated business model in the case of digital orientation. Even if we cannot confirm that higher digital capability, mediated by digital transformation, leads to a more sophisticated business model, we found statistically significant direct effects from digital capability to digital transformation and from digital transformation to business model. These findings can be useful for policymakers, managers and practitioners to clarify how digital orientation, digital capability intermediated through digital transformation affect sustainability of SMEs.

There is an increasing concern on the quality of jobs and productivity witnessed in the flexible employment arrangements. The aim of this study is to examine the relationship between various employment arrangements and the workplace performance. Home-based working-teleworking, flexible timing and compressed hours are the main employment types examined using the Workplace Employee Relations Survey (WERS) in years 2004 and 2011. The workplace performance is measured by two outcomes- the financial performance and labour productivity. First, the determinants of those flexible employment types are explored. Second, the ordinary least squares (OLS) method is followed. Third, an instrumental variable (IV) approach is applied to account for plausible endogeneity and to estimate the causal effects. The findings reveal a significant and positive relationship between these types of flexible employment arrangements and the workplace performance. Education, age, wage, quality of relations between managers-employees, years of experience, the area of the market the workplace is operated and the competition are significant factors and are positively associated with the propensity of the flexible employment arrangements implementation. This can have various profound policy implications for employees, employers and the society overall, including family-work balance, coping with family demands, improving the firm performance, reducing traffic congestion and stress among others. It is the first study that explores the relationship between flexible employment types and workplace performance using an IV approach. This allows us to estimate the causal effects of flexible employment types and the possible associated social implications.

Hosting FIFA World Cup obviously produce immense socio-economic impacts to a nation. Proximal non-host city perception to mega event was frequently explored, while distal non-host city perception has less investigated. This study assessed the socio-economic impacts of FIFA World Cup Qatar 2022 in Chon Buri Sports City residents. Participants were 422 Chon Buri Sports City residents from eleven districts. Perception on socio-economic impacts of hosting FWC Qatar 2022 was measured from the translated Scale of Perceived Social Impacts. Extracted seven dimensions by confirmatory factor analysis is consistent with empirical data. Positive impact dimensions are Community Development, Community Pride, Economic Benefits. Negative impact dimensions are Traffic Problems, Security Risks, Economic Costs, and Environmental Concerns. Chon Buri Sports City residents perceived fewer negative impacts than other non-host city residents. Positive impacts of hosting FWC Qatar 2022 has more influenced on Chon Buri Sports City residents’ perception than negative impacts. These findings advantage for sport stakeholders to deeper understand the impacts of mega event hosting.

This paper highlights the impact of financial inclusion on individuals’ borrowing and saving decisions in the United States and the United Arab Emirates. It does so, using data from the 2014 Global Financial Inclusion database, and an empirical strategy consisting of first testing the significance of the joint bivariate model over its binary conterparts using the Lagrange multiplier test, followed by a contrast between the fully-parametric and semi-parametric specifications of the saving and borrowing equations. Based on model performance measures, the semi-parametric bivariate probit specification is identified as a better framework for describing the two processes of saving and borrowing, with a correlation coefficient of 12.3%. Although no significant difference exists between UAE and US residents in borrowing behavior, we find that US residents are 31.4% more likely to save than their UAE counterparts. In addition, and in line with the Permanent Income Hypothesis, the results reveal the absence of an income based saving or borrowing gradient in the two countries. Conversely, we found the prevalence of a gender based saving (12.4%) and borrowing (13.8%) inequality in favor of the male gender. Furthermore, access to a bank account and a debit card, companies policy of direct wage and salary transfer, and government transfer programs with direct deposit options are all financial inclusion strategies that are found to significantly raise the likelihood of saving and borrowing. As such, companies with payroll practices based on cash or physical paycheck issuing, especially in the US, should revise such policy to create more financial inclusion, and thereby more saving potential which in turn would contribute to further borrowing, investment and growth of the national economy.

This research aims to determine the influence of the independent commissioners, audit committee, institutional ownership, firm size and leverage against the integrity of the financial reporting information. This research is quantitative research with the causal approach. This study uses secondary data and panel data regression analysis method. The research results prove that audit committee, institutional ownership and leverage effect on the integrity of the financial reporting information. But it does not prove that the independent commissioner and firm size effect on the integrity of the financial reporting information.

The rapid development of China’s textile industry leads to consumption and pollution of large volumes of water. Therefore, the textile industry has been the focus of water conservation and waste reduction in China’s 13th Five-Year Plan (2016–2020). The premise of sustainable development is to achieve decoupling of economic growth from water consumption and wastewater discharge. In this work, changes in blue water (water consumption), grey water (water pollutants), and water footprints of the textile industry from 2001 to 2014 were calculated. The relationship between water footprint and economic growth was then examined using the Tapio decoupling model. Furthermore, factors influencing water footprint were determined through logarithmic mean Divisia index (LMDI) method. Results show that the water footprint of China’s textile industry has strongly decoupled for five years (2002, 2006, 2008, 2011, and 2013) and weakly decoupled for four years (2002, 2007, 2009, and 2010). A decoupling trend occurred during 2001–2014, but a steady stage of decoupling has not been achieved yet. Based on the decomposition analysis, the total water footprint is mainly increased by production scale and inhibited by the technology. In addition, the effect of industrial structure adjustment is relatively weak.

An optimal withdrawal strategy beginning at age 65 provides a lifetime income from a portfolio, adjusted annually for inflation, while reducing the probability of living in financial ruin to an ac-ceptable level. This paper analyzes the probability of living in financial ruin, potentially for multiple years, rather than just the event of ruin. A stochastic Excel model was developed to simulate the effect of varying investment returns on a portfolio with two asset classes; large company stocks and long-term government bonds. A stochastic model is also applied to retiree mortality. The following variables were analyzed to determine their relative impact on withdrawal strategies: • Withdrawing a constant percentage of the portfolio, • Gender, • Initial asset allocation, • Asset allocation rebalancing methods, and • Low investment return environments. For both genders and most withdrawal rates, an approximately equal initial asset allocation of stocks and bonds, combined with a level rebalancing function, provided the lowest probability of living in financial ruin. Because each investment return followed its own probability distribution function, some retirees experienced financial ruin even in the most conservative simulations.

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.

In this paper, we focus on the impact of financial liberalization on stability of emerging stock market. We identify crises in a group of Latin American (Argentina, Brazil and Chile) and Asian countries (Philippines, Korea, Taiwan and Thailand) during 1975–2005. This paper aims to apply the methodology of CMAX method. Our results indicate that liberalization triggers more unstable stock market in the short run and generate several crises. Still, liberalization seems to generate more stable financial markets in the long run. Financial liberalization does not increase the frequency of crises in emerging countries and at long-term, crises are less several.

Talking about sustainable development refers mainly to the environmental sphere, but the concept is much broader and also takes into account the social and economic conditions. The concept of sustainability, in this sense, is linked to the compatibility between the development of economic activities, the related social phenomena, and the protection of the environment. Therefore, the ability to balance social, economic and environmental sustainability is the very meaning of the concept of sustainable development. Firms that choose to develop policies and strategies to enhance and pursue sustainable development in the medium to long term have the burden of having to quantitatively document the improvements in production processes with the aim of sustainable development. As a result, one of the biggest challenges for European industry is to introduce sustainability principles into business models leading to competitive advantage. This is particularly important in raw material and energy intensive manufacturing sectors such as the ceramic industry. The present state of knowledge lacks a comprehensive operational tool for industry to support decision-making processes geared towards sustainability. In the ceramic sector, the economic and social dimensions of the product and processes have not yet been given sufficient importance. Moreover, the traditional research on industrial districts lacks an analysis of the relations between firms and the territory with a view to sustainability. Finally, the attention of scholars in the field of economic and social sustainability, has not yet turned to the analysis of the Sassuolo district. Therefore, in this paper we introduce the Life Cycle Sustainability Assessment (LCSA), as a method that can be a suitable tool to fill this gap, because through a mathematical model it is possible to obtain the information useful for decision makers to integrate the principles of sustainability both at the microeconomic level in enterprises, and at the meso-economic level for the definition of economic policies and territorial governance. Environmental and socio-economic analysis was performed from the extraction of raw materials to the packaging of the product on different product categories manufactured by the Italian ceramic industries of the Sassuolo district (northern Italy). For the first time the LCSA model, usually applied to unitary processes, is extended to the economic and industrial activities of the entire district, extending the prospect of investigation from the enterprise and its value chain to the integrated network of district enterprises.

Economic globalization has increased interdependence, particularly among the developing economies. This has increased the potential of migration across the national borders. In a similar context, the Indian economy has witnessed a rapid growth in the number of migrants after the phase of globalization. The rise in the migrant stock has led to a massive increase in the income generated through international borders in the form of remittances. India has become one of the top recipients of remittances with 79$ billion inflows in 2018. The major factor driving the growth of migrant remittances has been the monetary incentives that raise the standard of living of the recipient’s households. The rise in the income level of these households also affects other economic parameters including consumption and investment. Apart from this, the pattern of migration has also changed since the past few years with skilled workers migrating to the developed economies and unskilled ones migrating to the Gulf economies. In this context, the present study examines the trend and pattern of remittance inflows in India for the period of 1975-2017. Additionally, the study explores how remittance inflows affect the level of household consumption and investments. This relationship was examined using a two-stage least squares method by framing a set of simultaneous equations. The findings of the two-stage least square estimates indicate that though personal remittances do not impact the gross domestic product of the economy directly. But, an increase in the inflow of personal remittances leads to a rise in consumption and investment which in turn plays an important role in determining the Gross Domestic Product of the economy.

Many countries have been facing the problem of bank insolvency across the globe. Asset deterioration is one of the main reasons for insolvency of banks. The objective of the paper is to ascertain the determinants of nonperforming loans (NPLs) in the banking sector of Pakistan for the period 2006-16. Other than the bank specific and macro variables proposed by the literature, the roles of weighted maturity and output gap are for the first time examined. We find significant impact of output gap on NPLs however weighted maturity has insignificant role in shaping the future NPLs. Bank specific drivers of NPLs include bank size and capital adequacy ratio.

This paper discusses the management of public expenditures in Indonesia in State Budget 2017. The data collected from fiscal policy documents, especially about government spending plans in 2017, and then be reviewed by policy analysis, the theory of public expenditures, and the theory of public goods, and compared with the theory of public expenditure in Islamic economics. Public expenditure management in Indonesia has implemented a distribution system that divided public expenditure for central government expenditures, transfers to the regions, and the village fund. In terms of fiscal policy, public expenditure priorities to support the achievement of sustainable economic growth, job creation, poverty reduction, and the reduction of gaps in the welfare of the whole community. In Islamic economics, public expenditure is used to meet the needs of the community based on the principles of general interest derived from the shari'a. Public expenditure on Indonesia's government as an effective tool to divert economic resources and increase the income of society as a whole, and focused on the embodiment of the people's welfare.

This study examines whether information about the winners of the Sustainability Reporting Award (SRA) contributes to the usefulness of the information in the financial statements. This study used a sample consisting of 110 winners of SRA (SRA firms) and 110 companies that did not receive SRA (non-SRA firms) from 2008 to 2016. The study found that earnings per share (EPS), book value per share (BVPS), and earnings per share change (EPSC) are value relevant information. Results of comparison between SRA firms and non-SRA fimrs, this study found that EPS positive association with stock price and with returns for SRA firms is higher than that for non-SRA firms. Findings of this study also show that, value relevance of BVPS for non-SRA firms is higher than that for SRA firms. When mesures of Price and BVPS are transformed into natural logarithm, the value relevance of BVPS for SRA firms is higher than that for non-SRA firms. Thus, the results are sensitive to measures of the variables. The findings of this study indicate that information about the winners of SRA contributes to the usefulness of financial statements.

An application of deep convolutional neural network and recurrence plot for financial market movement prediction is presented. Though it is challenging and subjective to interpret its information, the pattern formed by a recurrence plot provide a useful insight into the dy- namical system. We used a recurrence plot of seven financial time series to train a deep neural network for financial market movement predic- tion. Our approach is tested on our dataset and achieved an average of 53.25% classification accuracy. The result suggests that a well trained deep convolutional neural network can learn a recurrence plot and pre- dict a financial market direction.

The Directive 2014/95, in force in 2017, is the first European step that requires mandatory non-financial information to undertakings (all “public interest entities” with more than 500 employees). The regulation is concerning sustainability information as environmental, social and employee, human rights and anti-corruption and bribery matters and disclosure of diversity policy for board members. The study, in the strand of the regulation of accounting, part of the broader field of research into accounting regulation, contributes to the debate on the quality of regulation, in this specific case referred to sustainability disclosure. The regulation of sustainability matters is studied in literature broadly in a post-implementation phase and at national level. This research, instead, aims to analyse, through the causal chain of regulatory policy, in the ex-ante stage, the quality of the regulation and, at least, the usefulness of the normative pressure. The Oil & Gas sector is chosen as sample of the study, because it is one of the most advanced sectors in sustainability disclosure. The examination of the law, in terms of content requirements (what) and location of information (where), is the basis to apply the disclosure-scoring system, a partial form of content analysis, to the reports of the sample. The findings reveal a good level of completeness of non-financial information, however, there are some areas that have to be improved to reach the requests of the Directive. Results show also the presence of overlap between financial reports and sustainability ones. In conclusion, the regulation is useful to prompt undertakings to reflect on their reporting and so doing improve their sustainability approach.

An abundance of natural resources is both an opportunity and a challenge for developing countries. Several resource-rich, low-income countries receive amounts of foreign aid that are similar to or larger than their actual or potential revenues from natural resources. In such countries, the donors may have an opportunity to help a government to use its resource revenues productively and minimize the magnitude of risks created by resource rents. Development of aid instruments tailored for such purposes might be helped by model-based analysis of the effects of foreign aid on resource-rich, low-income economies and its interactions with the flows of natural resource revenues. This paper develops a growth model à la Barro in which the government receives windfalls (from natural resources and foreign aid) and rent-seeking agents contest for public funds. The key conclusion is that making aid countercyclical helps to achieve higher economic growth, and so does conditioning disbursements on enhancement of public capital. Introducing elements of insurance in the design of both aid products financing investments in infrastructure and social services and supporting policy and institutional reforms may help to achieve both of these objectives.

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

This study explores the impact of financial inclusions on financial resilience. In doing so, we utilize the World Bank’s data on global financial inclusions. Our study confirms that the respondents with financial accounts are more resilient than those without accounts. The chances of being financially resilient are around 1.4 times higher for the account holders than their counterparts. We find a significant relationship between gender and financial resilience; males are 1.4 times more resilient than females when other covariates are considered in the regression model.

1) Background: The environmental, financial and social questions in Africa remain unanswered up-to-date, with the rapid increase in human population and the demand for fuel energy, trigger the need to generate data on the socio-economic factors influencing the knowledge of use and adoption of family-sized bio-digesters. The increasing prices of fossil fuels and taxes on energy sources require finding the alternative, clean and economical sources of energy for households in developing countries. Moreover, in Africa, the consumption of firewood and charcoal continues to increase, with wood fuel consumption predicted to increase by 2030 to over 140%. The study objectives were 1) to determine the socio-economic characteristics of the people in Ngoma district, 2) to assess socio-economic factors influencing people to use and adopt family-sized bio-digesters. 2) Methods: Quantitative data collected with semi-structured questionnaires and interviews were analyzed using descriptive statistics. 3) Results: The results show that many households had not realized the potential benefits of biogas use and adoption in Rwanda. The study further found that a number of factors such as household income levels, socio-economic, technological, and institutional influence the household use and adoption of biogas energy. 4) Conclusions: At the end, the study suggests the need for all players such as Government, Non-Governmental Organizations (NGO's) and local communities to work together to provide incentives and favorable environment that can attract individual households to invest in biogas energy production and utilization.

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.

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.

All-polyamide composite coated fabric (APCCF) materials were developed and used as the material of construction of textile bioreactors as a replacement of traditional costly steel-/concreate-based bioreactors. Then, APCCF-bioreactor was used to cultivate filamentous fungus Neurospora intermedia to produce ethanol and fungal biomass. The results showed similar performance of the fungus cultivated in stain-less steel bioreactors. Techno-economical analysis for a 5000-m³ APCCF bioreactor for fermentation facility would lead to a reduction of the annual production cost of the facility by $128,000,000 compared to similar stainless-steel processes. The comparative analyses (including mechanical and morphological analyses, density measurements and techno-economical analysis) revealed that the APCCF is a better candidate for material of construction of the textile bioreactor. The APCCF is a 100% recyclable single polymer composite which was prepared from textile production line waste.

Considering the need to reduce greenhouse gas emissions, onshore wind energy is certain to play a major role in future energy systems. This topic has received significant attention from the research community, producing many estimations of Europe's onshore wind potential for capacity and generation. Despite this focus, previous estimates have relied on distribution assumptions and simulation schemes that summarily under predict both the amount of available future wind capacity as well as its performance. Foremost in this regard is the common use of contemporary, or at least near-future, turbine designs which are not fitting for a far-future context. To fulfill this role, an improved, transparent, and fully reproducible work flow is presented for determining European onshore wind potential. Within a scenario of turbine cost and design in 2050, 13.5 TWof capacity is found to be available, allowing for 34.4 PWh of generation. By sorting the explicitly-placed potential generation locations by their expected generation cost, national relations between turbine cost and performance versus a desired capacity are exposed. In this way, it is shown that all countries possess some potential for onshore wind energy generation below 4 €_ct kWh^-1. and, furthermore, that it is unlikely for these costs to exceed 6 €_ct kWh^-1.

The study aims to examine the effects of artificial intelligence (AI) on the consistency and analysis of financial statements in hotels in ASEZA, Jordan. This research is an exploratory, empirical study, which uses the methodology of data collection and interpretation to draw conclusions. The researchers used the arithmetic mean, standard deviation, T-test and ANOVA test to calculate the degree of significance of the study questions. The findings of a basic linear regression study of the impact of AI implemented in Jordanian hotels on the integration of accounting information systems and the association between AI and the integration of accounting information systems (R = 59.6%) also indicate that the fixed limit value amounted to (2.060) and the value of (Beta) for T-test

This paper aims to provoke fundamental thinking and action around the value and importance of socially-equitable development to the economic advancement, resilience, and prosperity of communities, as we contend with the 21^st Century grand challenge of the changing climate and disasters. As local communities and the global community have experienced an increased frequency, intensity and duration of natural and man-made disasters over the past several decades, opportunities have also grown to identify and reap the benefits of socially-equitable economic development. Reflecting on the COVID-19 pandemic, we discuss the critical importance of socially-equitable economic development to the resilience and sustainability of communities and the infrastructure that supports them. To this end, we: (1) examine what constitutes socially-equitable economic development at different spatial scales of community; (2) explore whether socially-equitable development can occur at different scales of community; (3) explicate the importance of formally considering the inputs, processes, outputs and outcomes for socially-equitable development; (4) explain why the pursuit of equal distribution of the benefits and burdens of development is a necessary but not sufficient endeavor for socially-equitable economic development; (5) analyze the relationships between socially-equitable development, and resilient and sustainable infrastructure and communities; (6) explain why socially-equitable development should be a key component of infrastructure and community resilience strategies in the 21^st Century; and, (7) explain why socially-equitable development can ultimately be viewed as a long-term strategy for prosperity.

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

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.

Modern day construction is widely influenced using concrete-steel composite columns. A lot of research on concrete-steel composite columns is being carried out around the world. The rapid growth in concrete-steel composite construction has widely decreased the use of conventional reinforced cement concrete construction (R.C.C), and the steel construction practices. The concrete-steel composite construction has obtained an extensive receiving around the globe. As Pakistan is a developing country, so, it is relatively a new concept for its construction industry when compared with the developed countries around the globe. Although, the R.C.C construction is suitable and economical for construction of framing systems of low-rise buildings, however, the increased dead load, span restrictions, less stiffness and risky formwork makes it uneconomical and unviable when it comes across the construction of intermediate to high-rise buildings. This research is an effort to learn the cost effectiveness, increased or decreased stiffness, and change on the functionality of the composite construction for intermediate to high-rise buildings constructed in Pakistan. A Base + Ground + 11 storey commercial building is selected for this study. A comparison is made between conventional R.C.C columns structure and concrete-encased composite columns structure. The equivalent static nonlinear analysis is performed using ETABS 2017 software. Although, for Base + Ground + 11 storey building, the construction cost of concrete-encased composite structure is 7.7% more than the conventional R.C.C columns structure, but the concrete-encased composite structure will have 13.013% more constructed floor area. This increased floor area helps to settle the cost difference between the two structures.

This economic evaluation aims to support policy-making on the combined use of pre-exposure prophylaxis (PrEP) with HIV vaccines by evaluating the potential cost-effectiveness of implementation that would support the design of clinical trials for assessment of combined product safety and efficacy. The target study population is a cohort of men who have sex with men (MSM) in the United States. Policy strategies considered include standard HIV prevention, daily oral PrEP, HIV vaccine, and their combination. We constructed a Markov model based on clinical trial data and published literature. We used a payer perspective, monthly cycle length, a lifetime horizon, and a 3% discount rate. We assumed a price of $500 per HIV vaccine series in the base case. HIV vaccines dominated standard care and PrEP. At current prices,PrEP was not cost-effective alone or in combination. A combination strategy had the greatest health benefit but was not cost-effective (ICER=$463,448/QALY) as compared to vaccination alone. Sensitivity analyses suggest a combination may be valuable for higher-risk men with good adherence. Vaccine durability and PrEP drug prices were key drivers of cost-effectiveness. Results suggest that boosting potential may be key to HIV vaccine value.

This study investigates the impact of Foreign Direct Investment (FDI) on economic growth and examines the causality between FDI and economic growth in Bangladesh during 1972-2013. Gross Domestic Product (GDP), export performance (EXP), Foreign Direct Investment (FDI), and Gross Fixed Capital Formation (GFCF) are considered to capture the objective of the study. The study methodology includes some systematic steps. As the data used in the study is time-series in nature, the author employs unit root tests, and in this case, Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) tests are used. Then Johansen’s cointegration test, Granger causality test, regression with Newey-West Standard Error and Vector Error Correction Model (VECM) are applied. By using the ADF and PP test the study reveals that the variables of four-time series are integrated of I (1) i.e. they are stationary at first difference. Regression analysis result demonstrates that FDI has a positive effect on economic growth. The Granger Causality test discloses that there is a unidirectional relationship between FDI and economic growth. But the VECM estimation finds that in the long run FDI negatively affects economic growth.

The aim of this research work was to provide model for predicting stock volatility in Nigeria Stock market. To achieve this, monthly data for Nigerian stock exchange, Exchange rate, Share index and inflation rate was collected for a period of January 1990 to December 2016.The descriptive statistics revealed these variables to exhibit volatility as a characteristics of financial time –varying series. DCC Model was fitted, were the coefficients for all the parameters and that of the correlation-Targeting (rho_21) are both negative and positive and tend very close to 1 and -1, indicating that high persistence in the conditional variances. The Model DCC, satisfied the properties of a good model of conditional mean and variance of the confidential Interval (C.I) of 1 and -1, that is, the conditional variances are finites and their series are strictly stationary. This therefore implies that the Nigerian Stock Exchange, Exchange rate, share index and Inflation rate will experience a non-steady shock in the Stock market. However Each of these variables have different length of recovery (volatility half- life) ranging from 1.5month, 6.5months, 6months to 2,4months for stock exchange, exchange rate, share index and inflation rate respectively. By implication, the volatility of these variables had a long memory, persistence and mean-reverting.

Background-The outbreak of COVID-19 pandemic has affected the global economy from its starting. Indian economy is also affected by the pandemic and experienced a lot of economic damages. India has become the global hotspot of COVID-19 during the second wave of the pandemic and recorded the second-highest position in terms of positivity rate after China. The present study attempts to analyze the economic issues that emerged in the first and second waves of the pandemic in India. Method/Approach-There is no econometric tools or analytical models used in the present study. This study attempts to evaluate the two research questions which are formed on the basis of some previous studies by various organizations and researchers. The research questions are as follow, First, what are the sectors those are primarily affected at the time of the first COVID-19 outbreak? Second, which economic issues and impacts emerged in the second wave of the pandemic? Results/ Findings-From the study, it is found that the second wave of COVID-19 is not much affected by the Indian economy. At this time, no nationwide lockdown was announced by the Government. But so, it was much severe in the time of the first wave of COVID-19. Many sectors were affected by the pandemic like agriculture, MSMEs, Tourism, etc., and these resulted in substantial unemployment problems in the economy. The study is trying to analyze these problems and concluding it with a few policy recommendations for the economy of India.

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.

This paper explores how the sustainable investment impacts financial returns and economic development in of Asia Pacific and North America, utilizing real data empirically. In academia and industrial field, it is polemical that indeed, the sustainable behavior has economic returns. In order to clarify that, we tested hypotheses with an analysis of seven stock markets, accounting of rates such as ROI, ROIC, and ROA in eleven companies, and GDP/GNI per capita. The results indicate that both financial return and economic development are positively germane to the sustainable investment. Besides, the variance of sustainability to economic development exists, depending on GDP per capita between two regions. We conclude, concerning the sustainability, by corroborating micro perspective for corporate level and macro perspective of economic development in the private and public sector. This research consequence will be interested in both practitioners and researchers in the measurement of sustainability performance

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.

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.

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.

In this paper, an improved system to efficiently utilize the low-temperature waste heat (WHUS) from the flue gas of coal-fired power plants is proposed based on heat cascade. The essence of the proposed system is that the waste heat of exhausted flue gas is not only used to preheat air for assisting coal combustion as usual but also to heat up feedwater and the low-pressure steam extraction. Preheated by both the exhaust flue gas in the boiler island and the low-pressure steam extraction in the turbine island, thereby part of the flue gas heat in the air preheater can be saved and introduced to heat the feedwater and the high-temperature condensed water. Consequently, part of the high-pressure steam is saved for further expansion in the steam turbine, which obtains additional net power output. Based on the design data of a typical 1000 MW ultra-supercritical coal-fired power plant in China, in-depth analysis of the energy-saving characteristics of the optimized WHUS and the conventional WHUS is conducted. When the optimized WHUS is adopted in a typical 1000 MW unit, net power output increases by 19.51 MW, exergy efficiency improves to 45.46%, and net annual revenue reaches 4.741 million USD. In terms of the conventional WHUS, these aforementioned performance parameters are only 5.83 MW, 44.80% and 1.244 million USD, respectively. The research of this paper can provide a feasible energy-saving option for coal-fired power plants.

In light of the worldwide spreading requirements related to the disclosure of non-financial information, which are aligning to the Sustainable Development Goals (SDGs) developed by the United Nations (UN) in 2015, the study aims to analyse the influence of sustainability and other non-financial reporting on companies’ engagement in earnings management practices, through a pre-post adoption of European Directive 2014/95/EU comparative analysis for firms listed on the Bucharest Stock Exchange (BSE) in the period 2015-2019. To conduct the investigation, the research involves the assessment and analysis of three earnings management metrics resulted by running multiple linear regression models on a sample of 31 companies listed on BSE. Research findings emphasise a decrease in the use of income smoothing practices by sampled companies in the post-adoption period 2017-2019, compared to the period preceding the implementation of the EU directive related to mandatory disclosure of non-financial information, 2015-2016. Thus, firms characterised by a higher transparency in terms of sustainability reporting are less inclined to engage in earnings management practices. This research complements the literature in the field of sustainability reporting and earnings management, providing empirical evidence on the significance and impact of publishing non-financial information.

Online transactions are becoming more popular in present situation where the globe is facing an unknown disease COVID-19. Now authorities of Countries requested peoples to use cashless transaction as far as possible. Practically it is not always possible to use it in all transactions. Since number of such cashless transactions have been increasing during lockdown period due to COVID-19, fraudulent transactions are also increasing in a rapid way. Fraud can be analysed by viewing a series of customer transactions data that was done in his/her previous transactions. Normally banks or other transaction authorities warned their customers about the transaction If any deviation is noticed by them from available patterns. These authorities think that it is possibly of fraudulent transaction. For detection of fraud during COVID-19, banks and credit card companies are applying various methods such as data mining , decision tree, rule based mining, neural network, fuzzy clustering approach and machine learning methods. These approaches is try to find out normal usage pattern of customers based on their past activities. The objective of this paper is to find out such fraud transactions during such unmanageable situation.Digital payment schemes are often threatened by fraudulent activities. Detecting fraud transaction in during money transfer may save customers from financial loss. Mobile based money transactions are focused in this paper for fraud detection. A Deep Learning (DL) framework is suggested in this paper that monitors and detects fraudulent activities. Implementing and applying recurrent neural network on PaySim generated synthetic financial dataset, deceptive transactions are identified. The proposed method is capable to detect deceptive transactions with an accuracy of 99.87%, F1-Score of 0.99 and MSE of 0.01.

“Sustainable development” (SD) is a term that has gained prominence in the international dia-logue around development. Many, however, continue to misunderstand the concept, its principles, its development, and its operationalization. The wide variety of definitions and interpretations of SD lean toward institutional and social prerogatives rather than unifying the essence of the con-cept, which is rooted in conventional ideas and values. By delving deeper into the paradigm, its history, and its potential, this research sought to contribute to ongoing discussions about sus-tainable development. The literature was thoroughly analyzed using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020. This historical and conceptual analysis sought to update the body of knowledge on sustainability and sustainable development by examining the metaphorical and epistemological underpinnings of SD’s various definitions, evolutions, and principles. The research concludes and argues that intergenerational justice, based on the environment, economy, and society, is the central tenet of the entire sustainable develop-ment argument. The focus and consideration of interested parties are moving from the protection of the environment to social sustainability. The future of SD is likely to continue to focus much more on the social pillar and integrate digitalization in implementing the SD concept, especially in the fourth industrial revolution. To promote ethical human behavior and activities worldwide, at national and local levels, decision-makers must be continuously cognizant of the interdepend-encies, direct interactions, and balance between the three core constructs of SD.

The severity of the ongoing COVID-19 outbreak demand from countries to adopt extreme measurements of social isolation to stop the spread and flatten the curve of contamination. Although social isolation measures may have negative impacts on economy, historically it has been showed to be more effective in saving lives and less damaging to economy than not adopting these measurements during a viral pandemic. In Brazil, despite the positioning of the president against social isolation due to the consequent economic recession, the rapid spread of the virus has worried the governors of the Brazilian states, which are thus managing stringent social isolation measurements to avoid the advance of the virus. Since one of the main strategies to guarantee progress and economic growth in Brazil has been the exploitation of natural resources from the Amazonia biome, here we discuss the importance of this biome to Brazilian economy during the post-pandemic recession and highlights potential strategies to burst the economy without promoting Amazonia destruction. We show that, together with the REDD+ and the Amazon Fund, the Forest bonds represents good strategies to burst Brazilian economy in a sustainable way, showing that it is possible to improve the commodities without increasing Amazonia deforestation or the greenhouse gases emissions. Amazonia is a biome of global importance for the avoidance of another global crisis, which will occur if we reach the climatic tipping point of 1.5°C. Thus, governmental actions should go towards its preservation, not exploitation and depletion. The commitment of the government with environmental conservation is paramount so that these economic strategies have positive results, especially in a post-pandemic scenario, where the economy will be extremely weakened. The COVID-19 brings us a lesson regarding how our attitudes can impact the world, and what we can expect from a global crisis. Perhaps we can apply these lessons and focus on change our economy towards a sustainable direction to avoid another global crisis in the years to come.

Recent developments in US immigration policies have brought tired attention to the problems of immigration in the United States. Although there has been growing awareness of the need to manage immigration that address the economic causal factors underlying the motivation to cross borders, the recent changes in immigration policies fail to do so. This paper brings attention to the futility of border control laws and calls on urban planners to address immigration through strategic planning for a socially-responsible, sustainable economic development in sending countries. This paper concludes with recommendations for how to do this.

We present an updated design process for adapting and integrating existing cyber risk assessment approaches for impact assessment for the risk from IoT to the digital economy. The new design process includes a set of changes to the original standards (e.g. NIST) that are adapted for the IoT cyber risk in this paper. This paper also presents a new framework for impact assessment of IoT cyber risk, specific for the digital economy.

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.

A common motivation for increasing open access to research findings and data is the potential to create economic benefits – but evidence is patchy and diverse. This study systematically reviewed the evidence on what kinds of economic impacts (positive and negative) open science can have, how these comes about, and how benefits could be maximized. Use of open science outputs often leaves no obvious trace, so most evidence of impacts is based on interviews, surveys, inference based on existing costs, and modelling approaches. There is indicative evidence that open access to findings/data can lead to savings in access costs, labour costs and transaction costs. There are examples of open science enabling new products, services, companies, research and collaborations. Modelling studies suggest higher returns to R&D if open access permits greater accessibility and efficiency of use of findings. Barriers include lack of skills capacity in search, interpretation and text mining, and lack of clarity around where benefits accrue. There are also contextual considerations around who benefits most from open science (e.g. sectors, small vs larger companies, types of dataset). Recommendations captured in the review include more research, monitoring and evaluation (including developing metrics), promoting benefits, capacity building and making outputs more audience-friendly.

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.

Over the past decade, the credit quality of loan portfolios across most countries in the world remained relatively stable until the financial crises hit the global economy in 2007–2008. In this paper I discuss, the relationship between non-performing loans and economic landscape. Since 2008, nonperforming loans have been an increasingly hot topic in the international scene, due to their important and rising volume and their impact on the economy as a whole, on the banking system and on its credit supply. Since then, average bank asset quality deteriorated sharply due to the global economic recession. Yet the deterioration of loan performance was very uneven across countries. I am interested in explaining these differences in bank asset quality across countries and over time. In this paper, I therefore study the empirical determinants of non-performing loan (NPL) ratios using a data set for EU countries covering the past decade. The paper assumes that the spatial organization of banking systems and the geographical distribution of comercial banks branches, ATMs and GDP growth are major factors influencing the effectiveness in credit system. The aim of this paper is to construct a continuous and quantifiable model, which will demonstrate a role of economic condition, technology, competition, policy, business climate in Financial Stability. Main hypotheses suggests, that GDP growth, interest rate, new business, FDI, ATMs and geographical distribution of branches have an influences on NPL (non-performing loans).

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.

The main purpose of study is to identify the impact of COVID-19 pandemic on the green financing of banks and non-bank financial institutions (NBFIs) in an emerging economy such as Bangladesh. Also, this study shows the green banking activities of the banks and NBFIs during the pandemic. To analyze the impact of the pandemic on green financing, secondary data were obtained from the quarterly and annual reports of Bangladesh Bank (BB) on green financing as well as the annual reports and websites of 61 banks and 34 NBFIs in Bangladesh for the period 2021–2019. Subsequently, the study deployed dependent t-test statistics, growth rate (year-on-year), descriptive statistics, relative percentage changes, and varying tables and graphs to analyze the obtained secondary data. The empirical findings revealed that during the COVID-19 pandemic, there was an increase in green finance for all banks and NBFIs compared to before the epidemic, indicating that the pandemic had no negative impact on the total green finance growth of all banks and NBFIs. On the other hand, compared to the pre-pandemic period, bank-wise growth in green financing was higher for state-owned commercial banks (SOCBs), specialized banks (SDBs), and private commercial banks (PCBs) but lower for foreign-owned commercial banks (FCBs) during the COVID-19 epidemic. This suggests that the pandemic does not affect the expansion of green finance by SOCBs, SDBs and PCBs but significantly impacted the growth of green financing by FCBs. Furthermore, the research findings showed that the total outstanding and classified loans within the green finance investment decrease for both banks and NBFIs during the COVID-19 pandemic. The results indicated that the Bangladeshi banks’ level of automation towards green banking were satisfactory during the pandemic. Therefore, major policy implications for the green economic recovery by the government, BB, and managers of the banks and financial institutions in emerging economies like Bangladesh were discussed.

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.

Background and Objectives: Due to huge demand and availability of Banana, innovative cost effective method is necessary to promote and smoothen the banana production among farmers commercially mitigating the demand. Method and Materials: In this study, we feed cow dung mixture along with Urea, TSP, MoP, water to the distal part of rachis after cutting down male bud as soon as the female flowers matured into fruits (T1). The effect of this method was then compared with two control groups; one with the same strategy except fertilizer applied on root following ring method (C1, Positive control) and another was male flower untouched without applying fertilizer on rachis or root (C2, Negative control). Results and Conclusion: T1 showed more than double increase in length than controls. In the same way, in case of shape (diameter), T1 (0.46 cm) showed twice as better growth in the C1 (0.22 cm) and C2 (0.18 cm). Trend analysis showed the test group T1 curve is much steeper than the control groups suggesting faster growth rate than the other two. Finally, the cost of fertilizers for T1 per plant was estimated 0.091 USD while for positive control C1 it was 2.9 USD. This study shows an approach to be effective and economic comparing to traditional method of fertilizer application, which can be adapted as a new method of banana production.

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.

Indonesian crypto asset owners are expanding despite the government's ban. Crypto assets are too risky for Indonesian investors. This study uses the Theory of Planned Behavior and exogenous variables like financial literacy, trust, and government regulation to determine the causes of the intention to invest in crypto assets. Exogenous variables and behavioral intentions were moderated by gender. The study employs a quantitative approach, collecting data through a questionnaire survey of 149 adults over the age of 17 who have invested in non-crypto assets. SmartPLS was used to analyze research data. Financial literacy and trust, according to the study's findings, have an impact on the intention to invest in crypto assets. Gender can moderate the relationship between belief and behavioral intention. Women are more likely than men to invest in crypto assets due to the block chain system's security, transparency, and ease of use. This research is expected to help the government address the risks associated with investing in crypto assets by increasing transaction security with futures clearing and monitoring by using third parties as depositors. It also governs the laws governing crypto exchanges' liability to their investors.

This study aims to determine the cash sales accounting information system that is suitable for online store applications. Using qualitative methods with the object of research, namely the online stores. Sources of data obtained from several online stores. Data collection methods used are semi-structured interviews, observation, and document analysis. From the analysis and design of the buying and selling cycle information system in online business development, it was found that the development of information systems is a very important stage in the efficiency and effectiveness of the buying and selling cycle. By implementing a good and correct accounting information system design on an online store, it can facilitate the recording and minimize the occurrence of errors/loss of data. In addition, with a good information system design, the division of tasks between various sections becomes clear.

This study identifies the optimal management policy of a given energy storage system (ESS) installed in a grid-connected wind farm for maximizing the monetary benefits and provides guidelines for defining the economic value of the ESS under the optimal management policy and selecting the optimal size of the ESS based on the economic value. Considering stochastic models for wind power and electricity price, we develop a finite-horizon periodic-review Markov decision process (MDP) model to seek the optimal management policy. We also use a simple optimization model to find the optimal storage capacity and charging/discharging capacity of the ESS. By applying our analytic approach to a real-world grid-connected wind farm located in South Korea, we verify the usefulness of this study. Our numerical study shows that the economic value of the ESS is highly dependent on the management policy, wind electricity variability, and the electricity price variability. Thus, the optimal size of ESS should be carefully determined based on the locational characteristics and management policy even with limited investments. Furthermore, this study provides a meaningful policy implication on how much a subsidy the government should provide for installing ESS in a wind farm.

The emergence of the Covid-19 pandemic has created both negative and positive changes, including implementing the circular economy across the globe. This Systematic Review follows the PRISMA statement and employs the Text Mining (Voyant Tools) technique to visualize and analyze the impacts of the Covid-19 on three aspects of the circular economy: economic, social, and environmental. The research employs Latent Dirichlet Allocation (LDA) to identify five major topics: (1) Shortage of medical equipment but high medical waste during Covid-19 due to the high demand in healthcare; (2) The long term negative impacts of lockdown on economic and social activities because of Covid-19 pandemic; (3) The reports on impacts of Covid-19 pandemic on the manufacturing globally, and their coping strategies and new opportunities; (4) The impacts of international restriction on the tourism, trade, shipping, and aviation industry, causing billion-dollar losses; (5) The reduction of pollution with health environment improvements with example cases from China and EU. The research identifies current literature gaps in the circular economy and Covid- 19 topics and encourages the application of text mining tools into researching to stimulate the research process and assist in communicating with the public.

Traditional high pressure mechanical compressors account for over half of the car station’s cost, have insufficient reliability and are not feasible for a large-scale fuel cell market. An alternative technology, employing a two-stage, hybrid system based on electrochemical and metal hydride compression technologies, represents an excellent alternative to conventional compressors. The high-pressure stage, operating at 100-875 bar, is based on a metal hydride thermal system. A techno-economic analysis of the metal hydride system is presented and discussed. A model of the metal hydride system was developed, integrating a lumped parameter mass and energy balance model with an economic model. A novel metal hydride heat exchanger configuration is also presented, based on mini-channel heat transfer systems, allowing for effective high-pressure compression. Several metal hydrides were analyzed and screened, demonstrating that one selected material, namely (Ti_0.97Zr_0.03)_1.1Cr_1.6Mn_0.4, is likely the best candidate material to be employed for high-pressure compressors under the specific conditions. System efficiency and costs were assessed based on the properties of currently available materials at industrial levels. Results show that the system can reach pressures on the order of 875 bar with thermal power provided at approximately 150 °C. The system cost is comparable with the current mechanical compressors and can be reduced in several ways as discussed in the paper.

This study compared the performance of five Family Generalized Auto-Regressive Conditional Heteroscedastic (fGARCH) models (sGARCH, gjrGARCH, iGARCH, TGARCH and NGARCH) in the presence of high positive autocorrelation. To achieve this, financial time series was simulated with autocorrelated coefficients as ρ = (0.8, 0.85, 0.9, 0.95, 0.99), at different time series lengths (as 250, 500, 750, 1000, 1250, 1500) and each trial was repeated 1000 times carried out in R environment using rugarch package. And the performance of the preferred model was judged using Root Mean Squared Error (RMSE) and Mean Absolute Error (MAE). Results from the simulation revealed that these GARCH models performances varies with the different autocorrelation values and at different time series lengths. But in the overall, NGARCH model dominates with 62.5% and 59.3% using RMSE and MAE respectively. We therefore recommended that investors, financial analysts and researchers interested in stock prices and asset return should adapt NGARCH model when there is high positive autocorrelation in the financial time series data.

This theoretical article reviews the model describing processes in social systems based on the analysis of their resource base. Application of the system theory can help to explain why some systems are aimed at prevention of type I errors, while other seek to decrease quantity of type II errors. Such differences are manifested in investment of resources either into deep interaction or into wide coverage. Some examples of such strategies in economic, market and production systems are provided in the article. The article introduces some provisions of the system theory in the context of the resource flows. The main indicators that are considered in this article are the characteristics of the sources of the exchanging flows of resources. Their relative frequency and quality are investigated, on the basis of which the most effective strategy of the system is derived, as a mechanism for redistributing resources. The rigor of the system's strategy depends on the magnitude of the difference in characteristics. It is explained how exactly it influences the exchange processes, that in reality systems do not interact simultaneously, and one of the opposite resource flows is always delayed. It is shown how the system strategy depends on the risks linked with interactions. Also, there are grounds for the need to accumulate resources, including in the situation of their surplus. The model helps also explain shift of economic centers throughout history. Additionally, there is an analogy between systems strategies and the competitive strategies described by M. Porter, and outsourcing versus integration.

The influence and importance of research and development (R&D) for business sustainability have gained increasing interests, especially in the high-tech sector. However, the efforts of R&D might cause complex and mixed impacts on the financial results considering the associated expenses. Thus, this study aims to examine how R&D efforts may influence business to improve its financial performance considering the dual objectives: the gross and the net profitability. This research integrated a rough-set-based soft computing technique and multiple criteria decision-making (MCDM) methods to explore this complex and yet valuable issue. A group of public listed companies from Taiwan, all in the semiconductor sector, was analyzed as a case study. Initially, more than 30 variables were considered, and the adopted soft computing technique retrieved 14 core attributes—for the dual profitability objectives—to form the evaluation model. The importance of R&D for pursuing superior financial prospects is confirmed, and the empirical case demonstrates how to guide an individual company to plan for improvements to achieve its long-term sustainability by this hybrid approach.

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.

In rural Zimbabwe, selling of cattle has for a long time been one of the most dependable sources of income that has sustained livelihoods for decades. Informal cattle marketing which involves door to door or gate sales has been the most predominant system for the last three decades. However, the outbreak of the global COVID-19 pandemic followed by the imposition of lockdowns has exposed the vulnerability of rural communities that are regressing into poverty due to a lack of alternative sources of income. The aim of this paper is, therefore, to delineate how formal cattle markets could be used as a sustainable source of income for rural communities’ livelihoods during and post the COVID-19 pandemic era. This qualitative research study relied on secondary data from published journal articles, online publications, and reports to understand the COVID-19 pandemic and also understand how it has impacted the livelihoods of people in rural Zimbabwe. The findings show that the current informal cattle marketing system is no longer suitable for rural communities as it exposes them to infections due to the challenges in ensuring compliance with the World Health Organisation (WHO) precautionary measures. It is recommended that formal (public) cattle markets be reintroduced in all rural areas as there is the certainty that WHO health guidelines will be enforced since they are organised by local and central government institutions. Since formal cattle markets offer competitive market-related prices this will then guarantee the flow of regular income thereby reducing the vulnerability of rural communities to poverty and inequalities.

It is well known that that there is an intrinsic link between the financial and energy sectors, which can be analyzed through their spillover effects, which are measures of how the shocks to returns in different assets affect each other’s subsequent volatility in both spot and futures markets. Financial derivatives, which are not only highly representative of the underlying indices, but can also be traded on both the spot and futures markets, include Exchange Traded Funds (ETFs), a tradable spot index whose aim is to replicate the return of an underlying benchmark index. When ETF futures are not available to examine spillover effects, “generated regressors” are useful for constructing both Financial ETF futures and Energy ETF futures. The purpose of the paper is to investigate the co-volatility spillovers within and across the US energy and financial sectors in both spot and futures markets, by using “generated regressors” and a multivariate conditional volatility model, namely Diagonal BEKK. The daily data used are from 1998/12/23 to 2016/4/22. The data set is analyzed in its entirety, and are also subdivided into three distinct subsets. The empirical results show there is a significant relationship between the Financial ETF and Energy ETF in the spot and futures markets. Therefore, financial and energy ETFs are suitable for constructing a financial portfolio from an optimal risk management perspective, and also for dynamic hedging purposes.

The growth of regularly generated data from many financial activities has significant implications for every corner of financial modeling. This study has investigated the utilization of these continuous growing data by a means of an automated process. The automated process can be developed by using Machine learning based techniques that analyze the data and gain experience from the underlying data. Different important domains of financial fields such as Credit card fraud detection, bankruptcy detection, loan default prediction, investment prediction, marketing and many other financial models can be modeled by implementing machine learning models. Among several machine learning based techniques, the use of parametric and non-parametric based methods are approached by this research. Two parametric models namely Logistic Regression, Gaussian Naive Bayes models and two non-parametric methods such as Random Forest, Decision Tree are implemented in this paper. All the mentioned models are developed and implemented in the field of Credit card fraud detection, bankruptcy detection, loan default prediction. In each of the aforementioned cases, the comparative study among the classification techniques is drawn and the best model is identified. The performance of each classifier on each considered domain is evaluated by various performance metrics such as accuracy, recall, precision, F1-score and mean squared error. In the credit card fraud detection model the decision tree classifier performs the best with an accuracy of 99.1% and, in the loan default prediction and bankruptcy detection model, the random forest classifier gives the best accuracy of 97% and 96.84% respectively.

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.

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.

This study employs traditional OLS (ordinary least squares) regression analysis to investigate the influence of various external factors on Bitcoin price fluctuations from January 2014 to March 2023 using a multidimensional approach. We use factors from the traditional financial market, such as economic policy uncertainty (EPU), oil prices, the NASDAQ index, and gold prices, to identify factors contributing to Bitcoin volatility. Considering the unique situation in the Bitcoin market, that is, 24-hour trading and the short duration of its existence, we incorporate the broadest possible data range to achieve alignment between Bitcoin data and other datasets. The findings of the statistical analysis indicate that EPU and the NASDAQ index promote positive fluctuations in Bitcoin volatility, whereas gold prices act as a dampener. However, we find no empirical support for the influence of energy prices on Bitcoin volatility. These results suggest that Bitcoin should not be underestimated; all stakeholders should treat the issue of Bitcoin volatility seriously, including governments, who should actively regulate the Bitcoin market, and investors, who should recognize the dangers of this volatility, making rational decisions based on individual circumstances and employing flexible trading strategies.

Over time, the agricultural sector's contribution to the nation's Gross Domestic Product and revenue is declining exponentially; the decline may be attributed to varying problems affecting the agricultural value chain resulting in low productivity. The agricultural value chain comprises a series of activities and value addition processes required to transform raw materials into useable products to maximize the final consumers' utility.¹ The agricultural value chain's marketing activities have been skewed with challenges, thus affecting agricultural productivity and agricultural sector contribution to the economy. The paper critically examines and discuss the impact of agricultural marketing to economic development, a historical review of agricultural marketing in Nigeria, challenges undermining the impact of agricultural marketing, measures to reposition agricultural marketing potential to build back better, policy recommendations to reposition the future of Nigeria's agricultural productivity. The paper aims to promote concerted efforts through knowledge dissemination to build back better through market research and facilitation and boost economic prosperity.

Although floods, as well as other natural disasters, can be considered relevant causes of intra-generational inequalities, the frequent catastrophes and the resulting damages to territory reflect the generalized indifference about inter-generational justice. Societal concerns, such as land protection, typically involve the administrative system performing proactive policies in the perspective of inter-generational solidarity, but subsidiarity has made more and more independent the local communities. As a consequence, the attention toward the long run effects – typically concerning the territorial system, as a whole, at the geographical scale – has been dispersed, and the proactive policies coming from the central government has became more ineffective. Regarding the case of the flood happened in 2009 in the Fiumedinisi-Capo Peloro hydraulic basin, in the northeastern part of Sicily, Italy, we propose an economic valuation – carried out by performing the method of the imputed preferences – in order to compare the expenses incurred by the public authorities responsible for protecting the territory to the costs of the rehabilitation of the damaged areas. Some considerations about the economic significance of the proactive policies for the arrangement of territory are addressed according to the role played by the social discount rate in the inter-temporal economic calculation.

This study investigates the impact of global financial crisis and the present COVID-19 pandemic on daily and weekly Crude oil futures using four variants of ARMA-GARCH models: ARMA-sGARCH, ARMA-eGARCH, ARMA-TGARCH and ARMA- aPARCH with dummy variables We also investigated the persistence, half-life and backtesting of the models. This study therefore seeks to contribute to the body of literature on the impact of global financial crisis and the present COVID-19 pandemic on crude oil futures market. This investigation of the impact of global financial crisis and the COVID-19 on crude oil futures has not been much studied at present. We obtained and analyzed the daily and weekly crude oil futures from secondary sources. Daily crude oil futures used in this study covers the period from the 4th January 2000 to 27th April 2020 while the weekly crude oil futures covered from 2ndJanuary 2000 to 26th April 2020 . The global financial crisis period covered from 2nd July 2007 to 31st March 2009 and the current COVID-19 pandemic covered from 1st January 2020 to 27th April, 2020. The study used both student t and skewed student t innovations with AIC, goodness-of-test fit and backtesting to select the best model. Most of the estimated ARMA-GARCH models are supported by skewed student t distribution while most of the ARMA-GARCH models exhibited high persistence values in the presence of global financial crisis and the COVID-19 pandemic. In the overall, the estimated ARMA(1,0)-eGARCH(2,1) and ARMA(1,0)-eGARCH(2,2) model for daily crude oil futures and weekly crude oil futures respectively have been significantly impacted by the global financial crisis and the Present COVID-19 pandemic while the preferred estimated models also passed the goodness-of-test fit and backtesting.This study recommends shareholders and investors should think outside the box as crude oil futures tend to be affected by global financial crisis and COVID-19 pandemic while countries also that depend mostly on crude oil are encouraged to diversify their economy in other to survive and be sustained during financial and health crisis.

This research presents a solution to the problem of planning the optimum area for economic crops by developed mathematical models and developed an algorithm to solve the problem of planning the optimum area by considered economic value for the maximize profit of farmers. The data were collected from farmers in 8 provinces in the northeastern region of Thailand. The 3 economic crops studied were rice, cassava and sugarcane. The solving problem methods were 1) Created mathematical models and solved the problems with Lingo V.11. 2) Improved Differential Evolution algorithms (I-DE) to solve the problems, which had 3 local search methods included (Swap, Cyclic Move and K-variable moves). The results of this study showed that in the small and medium problems instances, Lingo V.11 and DE provided equal profit outcome but DE was faster but in the large size of test instances DE generated better solution than that of Lingo v.11 when Lingo simulation time is set to 250 hours and DE simulation time has set to maximum 21.82 minutes. 2) Comparing DE and I-DE , I-DE outperforms DE in finding the better solution for all size of test instances (small, medium and large).

In the context of the economic and political uncertainty associated with the 2019-nCoV pandemic, it is necessary to determine the socio-psychological factors involved in the transformation of the behavior of insurance consumers under the influence of a biogenic threat. This study measures financial anxiety and its impact on the insurance behavior of Russian citizens. The correlation, comparative, and regression analyses of the financial anxiety of Russian citizens cover three stages of observation: before the start of the 2019 nCoV pandemic (“FA up to 19 nCoV; N = 766), during the period of quarantine measures announced in Russia in March 2020 (“FA 19-nCoV-1”; N = 856), and after the relaxation of quarantine measures at the end of April 2020 (“FA 19-nCoV-2”; N = 963).Psychological analysis data were obtained from the online survey “Financial anxiety (in the context of insurance)”. The questionnaire is psychometrically reliable and easy to use. It includes five measurement scales: MR1—Physical manifestations of financial incentive anxiety, MR2—With money shortages and financial uncertainty, MR3—The value of insurance coverage, MP4—Financial Confidence, and MR5—Perception of insurance and investment risks. It was found that Russian citizens consider it important to have insurance coverage for a “rainy day”, and they showed confidence in the insurance market during the biogenic crisis. However, unfortunately, during the 19-nCoV-1 and 19-nCoV-2 periods, Russian citizens did not feel financially secure, unlike in the period before 19-nCoV. Women showed high scores for physical manifestations of financial anxiety and low financial confidence in the future, in contrast to men, regardless of the observation period.

Banking sector is generally taken out of sample while the sustainability performance, and the financial performance are compared with each other. The core aim of this study is to analyze the effect of the declarations made in the cope of sustainability reports on the financial performance in the banking sector. Seven banks were included in the study which were placed at least one time in BIST Sustainability Index in between 2010-2017 years. Environment, human resources, product liability and community involvement were determined as sustainability criteria and return on assets, return on equity and net interest margin were determined as financial performance criteria. Non-Parametric Statistic Tests and Panel Data Analysis were used for analysis and types, and the sizes of banks were selected as dummy variables. As a result, it is found that the declarations of sustainability reports have a significant effect only on return on assets and have no significant effect on return on equity and net interest margin. And also, when we analyzed the relationship of sustainability criteria and return on assets, we found that the declarations about environment and human resources have negative effects on return on assets.

A more sustainable society and economy also implies a more sustainable behavior in the consumption of financial products. A possible change in focus can come from the demand side, so that more sustainable consumption of financial products have to go hand to hand with financial literacy. However, financial literacy, potential favoring of this sustainable behavior, is far from reaching an international consensus about its definition, object and scope. Two objectives are analyzed; the different interpretations of financial literacy in the academic literature, as well as its evolution and how, in what context and with what other concepts the term is used in social networks. Scientometric techniques and content analysis have been used to carry out a systematic review of literature and also NLP to analyze the comments on Social Networks. Critical moments are identified in the definition of financial literacy. Also ten sentiments are analyzed in social networks in wich positivity, trust, and anticipation predominate. Greater attention to this issue is necessary both from the private initiative and from public policies, so that financial literacy is an effective tool for a more sustainable behavior by consumers. Finally, a new definition is proposed based on our findings.

Considering the impact of religiosity on the perceptions regarding life quality, in this paper we focus on the effects of the appurtenance to a religion on the standard of living in several economically developing countries (Turkey, Ukraine, Senegal and Morocco). The data have been collected using a survey carried out in 2012 and the empirical analysis was based on non-parametric tests and multinomial logistic regression. The results indicate there are differences between religious persons and atheists regarding gender, marital status, perceptions of daily life and standards of living. Females and officially married people or single people tend to be more religious. A person claiming to belong to a religion has 2-4-fold more chances to achieve a considerable improvement in the standards of living as compared to an atheist. Moreover, religious people from the analyzed countries are more optimistic about their life overall. Taking into account the sample’s characteristics and the countries chosen, we can claim that the results obtained are truly cross-cultural in nature. Moreover, most of the conclusions reached would be to some extent relevant to other developing economies of Eastern Europe, North Africa and Middle East.