Hasil untuk "Commercial geography. Economic geography"

BIRĂU RAMONA , FILIP ROBERT DORIN

The main aim of this research paper is to provide a literature survey on the islamic finance paradigm and its impact on the banking system. The financial infrastructure differs in the case of Islamic banking compared to conventional banking. The Islamic jurisprudence known as Shariah law represents the foundation on which the Islamic banking system is based. Islamic banking emerged in the mid-1970s and represents an alternative to conventional banking. Moreover, one of the most important aspects is that Islamic banking system has implemented a new banking style based on “interest free” approach.

MOCANU STELIANA, CÂMPEANU CĂTĂLIN , SBÎRCEA ROBERT ȘTEFAN

Environmental, social and governance (ESG) criteria have become fundamental benchmarks for assessing sustainable development and corporate responsibility around the world. This paper provides an overview of the latest ESG trends among countries that are members of the Organization for Economic Co-operation and Development (OECD) and among candidate countries. By analyzing different ESG performance on a selection of three indicators for each pillar, the study identifies the latest trends for these indicators, key patterns, challenges, and opportunities in the transition towards a more sustainable economy. The idea for the paper started from the small number of articles written on both topics, OECD and ESG. The paper is based on querying the web of science database to identify papers containing the terms “ESG” and “OECD” in the topic. Also, to obtain data on the indicators that define ESG criteria, the database provided by the World Bank was accessed. The study covers the following indicators: CO2 emissions, renewable electricity output, forest area, people using safely managed drinking water services, population ages 65 and above, unemployment, total, GDP growth, proportion of seats held by women in national parliaments and scientific and technical journal articles, at the level of the 38 OECD country members and the candidate countries for 1990 (were possible), 2005 and 2019/2020/2021 (depending of the last year available) The chosen indicators offer valuable insights into the sustainable performance of national economies, highlighting how national priorities align with global sustainable development goals.

Emily Priyadarshini, Massimo Bartoletti

Decentralized applications are often composed of multiple interconnected smart contracts. This is especially evident in DeFi, where protocols are heavily intertwined and rely on a variety of basic building blocks such as tokens, decentralized exchanges and lending protocols. A crucial security challenge in this setting arises when adversaries target individual components to cause systemic economic losses. Existing security notions focus on determining the existence of these attacks, but fail to quantify the effect of manipulating individual components on the overall economic security of the system. In this paper, we introduce a quantitative security notion that measures how an attack on a single component can amplify economic losses of the overall system. We study the fundamental properties of this notion and apply it to assess the security of key compositions. In particular, we analyse under-collateralized loan attacks in systems made of lending protocols and decentralized exchanges.

Mostafa Raeisi Sarkandiz

This article investigates the fundamental factors influencing the rate and manner of Electoral participation with an economic model-based approach. In this study, the structural parameters affecting people's decision making are divided into two categories. The first category includes general topics such as economic and livelihood status, cultural factors and, also, psychological variables. In this section, given that voters are analyzed within the context of consumer behavior theory, inflation and unemployment are considered as the most important economic factors. The second group of factors focuses more on the type of voting, with emphasis on government performance. Since the incumbent government and its supportive voters are in a game with two Nash equilibrium, and also because the voters in most cases are retrospect, the government seeks to keep its position by a deliberate change in economic factors, especially inflation and unemployment rates. Finally, to better understand the issue, a hypothetical example is presented and analyzed in a developing country in the form of a state-owned populist employment plan.

Xin Qin, Ioannis Lestas, Bolun Xu

Economic withholding in electricity markets refers to generators bidding higher than their true marginal fuel cost, and is a typical approach to exercising market power. However, existing market designs require storage to design bids strategically based on their own future price predictions, motivating storage to conduct economic withholding without assuming market power. As energy storage takes up more significant roles in wholesale electricity markets, understanding its motivations for economic withholding and the consequent effects on social welfare becomes increasingly vital. This paper derives a theoretical framework to study the economic capacity withholding behavior of storage participating in competitive electricity markets and validate our results in simulations based on the ISO New England system. We demonstrate that storage bids can reach unbounded high levels under conditions where future price predictions show bounded expectations but unbounded deviations. Conversely, in scenarios with peak price limitations, we show the upper bounds of storage bids are grounded in bounded price expectations. Most importantly, we show that storage capacity withholding can potentially lower the overall system cost when price models account for system uncertainties. Our paper reveals energy storage is not a market manipulator but an honest player contributing to the social welfare. It helps electricity market researchers and operators better understand the economic withholding behavior of storage and reform market policies to maximize storage contributing to a cost-efficient decolonization.

Tekilu Tadesse Choramo, Jemal Abafita, Yerali Gandica et al.

Global and regional integration has grown significantly in recent decades, boosting intra-African trade and positively impacting national economies through trade diversification and sustainable development. However, existing measures of economic integration often fail to capture the complex interactions among trading partners. This study addresses this gap by using complex network analysis and dynamic panel regression techniques to identify factors driving economic integration in Africa, based on data from 2002 to 2019. The results show that economic development, institutional quality, regional trade agreements, human capital, FDI, and infrastructure positively influence a country's position in the African trade network. Conversely, trade costs, the global financial crisis, and regional overlapping memberships negatively affect network based integration. Our findings suggest that enhancing a country's connectivity in the African trade network involves identifying key economic and institutional factors of trade partners and strategically focusing on continent-wide agreements rather than just regional ones to boost economic growth.

Maximilian Degner, Raffaele Soloperto, Melanie N. Zeilinger et al.

We present a model predictive control (MPC) formulation to directly optimize economic criteria for linear constrained systems subject to disturbances and uncertain model parameters. The proposed formulation combines a certainty equivalent economic MPC with a simple least-squares parameter adaptation. For the resulting adaptive economic MPC scheme, we derive strong asymptotic and transient performance guarantees. We provide a numerical example involving building temperature control and demonstrate performance benefits of online parameter adaptation.

Katsiaryna Bahamazava

We present a theoretical framework assessing the economic implications of bias in AI-powered emergency response systems. Integrating health economics, welfare economics, and artificial intelligence, we analyze how algorithmic bias affects resource allocation, health outcomes, and social welfare. By incorporating a bias function into health production and social welfare models, we quantify its impact on demographic groups, showing that bias leads to suboptimal resource distribution, increased costs, and welfare losses. The framework highlights efficiency-equity trade-offs and provides economic interpretations. We propose mitigation strategies, including fairness-constrained optimization, algorithmic adjustments, and policy interventions. Our findings offer insights for policymakers, emergency service providers, and technology developers, emphasizing the need for AI systems that are efficient and equitable. By addressing the economic consequences of biased AI, this study contributes to policies and technologies promoting fairness, efficiency, and social welfare in emergency response services.

S M Toufiqul Huq Sowrov

International trade has been in the forefront of economic development and growth debates. Trade openness, its definition, scope, and impacts have also been studied numerously. Tariff has been dubbed as negative influencer of economic growth as per conventional wisdom and most empirical studies. This paper empirically examines relationships among trade openness as trade share to GDP, import tariff rate and economic growth. Panel dataset of 11 G-20 member countries were selected for the study. Results found a positively significant correlation between trade openness and economic growth. Tariff has negatively significant correlation with economic growth in lagged model. OLS and panel data fixed-effects regression were employed to carry out the regression analysis. To deal with endogeneity in trade openness variable, a 1-year lag regression technique was conducted. Results are robust and significant. Policy recommendation suggests country specific trade opening and tariff relaxation.

Nadia LOUZRI

This study aims at demonstrating the negative effects resulting from crypto currencies trade. These currencies differ from the traditional ones in terms of being intangible and decentralized, using these currencies increase through the internet, because of the increased value on the trade platforms, the rapidity, and the low cost. We’ve concluded that these currencies may be hacked through the digital piracy. They may be used in money-laundering, besides their value deterioration at anytime.  

Azzedine CHEDDAD, Mohammed MEKIDICHE

The aim of this study is to reassess the efficacy of inflation targeting in Algeria by utilizing the Autoregressive Distributed Lag Bound Test (ARDL) model to analyze the Taylor rules. Our findings reveal that the implementation of inflation targeting in Algeria's monetary policy does not yield a significant immediate impact on inflation. Nonetheless, there is evidence of a gradual adjustment towards attaining the targeted inflation rate over time.

Qirui Mi, Siyu Xia, Yan Song et al.

Taxation and government spending are crucial tools for governments to promote economic growth and maintain social equity. However, the difficulty in accurately predicting the dynamic strategies of diverse self-interested households presents a challenge for governments to implement effective tax policies. Given its proficiency in modeling other agents in partially observable environments and adaptively learning to find optimal policies, Multi-Agent Reinforcement Learning (MARL) is highly suitable for solving dynamic games between the government and numerous households. Although MARL shows more potential than traditional methods such as the genetic algorithm and dynamic programming, there is a lack of large-scale multi-agent reinforcement learning economic simulators. Therefore, we propose a MARL environment, named \textbf{TaxAI}, for dynamic games involving $N$ households, government, firms, and financial intermediaries based on the Bewley-Aiyagari economic model. Our study benchmarks 2 traditional economic methods with 7 MARL methods on TaxAI, demonstrating the effectiveness and superiority of MARL algorithms. Moreover, TaxAI's scalability in simulating dynamic interactions between the government and 10,000 households, coupled with real-data calibration, grants it a substantial improvement in scale and reality over existing simulators. Therefore, TaxAI is the most realistic economic simulator for optimal tax policy, which aims to generate feasible recommendations for governments and individuals.

Alaa M. Sadeq

This study explores how the COVID-19 pandemic's economic impact has exacerbated nutritional health disparities among women. It sought to understand the effects of economic challenges on women's dietary choices and access to nutritious food across different socioeconomic groups. Using a mixed-methods approach, the research combined quantitative data from health and economic records with qualitative insights from interviews with diverse women. The study analyzed trends in nutritional health and economic factors before and after the pandemic and gathered personal accounts regarding nutrition and economic difficulties during this period. Findings showed a clear link between the economic downturn and deteriorating nutritional health, particularly in low-income and marginalized groups. These women reported decreased access to healthy foods and an increased dependence on less nutritious options due to budget constraints, leading to a decline in dietary quality. This trend was less evident in higher-income groups, highlighting stark disparities. The pandemic intensified pre-existing nutritional inequalities, with the most vulnerable groups facing greater adverse effects. However, community support and public health measures provided some relief. In summary, the pandemic's economic repercussions have indirectly impaired women's nutritional health, especially among the socioeconomically disadvantaged. This highlights the necessity for tailored nutritional interventions and economic policies focused on safeguarding women's health.

Ishmeet Matharoo

This research paper presents a thorough economic analysis of Bitcoin and its impact. We delve into fundamental principles, and technological evolution into a prominent decentralized digital currency. Analysing Bitcoin's economic dynamics, we explore aspects such as transaction volume, market capitalization, mining activities, and macro trends. Moreover, we investigate Bitcoin's role in economy ecosystem, considering its implications on traditional financial systems, monetary policies, and financial inclusivity. We utilize statistical and analytical tools to assess equilibrium , market behaviour, and economic . Insights from this analysis provide a comprehensive understanding of Bitcoin's economic significance and its transformative potential in shaping the future of global finance. This research contributes to informed decision-making for individuals, institutions, and policymakers navigating the evolving landscape of decentralized finance.

Muhammad Zubair Alam, Shazia Kousar, Muhammad Rizwan Ullah et al.

Abstract Schumpeter's idea of creative destruction (CD) explains innovation functions in organisations. This paper investigates the CD concept in engineering firms by explaining how technical opportunity (TO) transforms into corporate entrepreneurship (CE) actions once opportunities have a market orientation (MO). A survey was conducted using a structured questionnaire with 132 managers of engineering firms in Pakistan. Structural Equation Modelling (SEM) using Partial Least Square (PLS) approach has been used to analyse the data. Results reveal that MO and TO exerts a positive influence on CE. MO is the reason for the emergence of TO, which corporate entrepreneurs in engineering firms exploit. CD intensifies the impact of MO on TO significantly. Opportunity recognition in engineering firms is distinguished and bounded by MO and technical viability. Engineering firms need to identify gaps in the market through naturally occurring obsolescence of products and services (CD) to create TO with appropriate MO. This study has revived a classical debate over opportunity recognition by incorporating external factors to propose the CE model. The Schumpeterian opportunity recognition process and CD have been examined for engineering firms.

Donald O. E. Amadasun, Ashley. T. Mutezo

Abstract This paper established some market-driven strategies that influence the competitive growth of small and medium-sized enterprises in Lesotho. The paper identified the following factors; market orientation, competitive intensity, and technological dynamics as variables that influence SMEs’ competitive growth. The investigation shows that these critical factors of market-driven strategies are significant market facets in the enterprise that could capacitate SME entrepreneurs and managers to attain competitive growth. The results indicated that the factors used to measure market-driven strategies influence SMEs competitive growth. More specifically, the independent variables of market orientation, competitive intensity and technological dynamics are seen as key tenets of market-driven strategies that influence small and medium-sized enterprises’ competitive growth. From the analyses, this paper recommended that market-driven strategic constructs of market orientation, competitive intensity and technological dynamics are inimitable and tangible significant resources if harnessed in the enterprises, could serve as critical operational factors that influence SMEs competitive growth in Lesotho.

Neenu Varghese, Roopak Sinha

Background: Testing IoT software is challenging due to large scale, volume of data and heterogeneity. Testing automation is a much-needed feature in the domain. Aims: The first goal of this research is to explore the requirements and challenges of IoT testing automation. The second goal is to integrate testing automation tools used in commercial software into the IoT context. Method: A systematic literature review is carried out to elicit requirements for testing automation in IoT. A design science approach is followed to build a testing automation tool for IoT applications written in the Node-Red platform, using the commercial testing automation tool Selenium. The resulting framework uses the Selenium Web Driver for browser-based testing automation for IoT applications. Results: The proposed framework has been functionally tested on multiple browsers with preliminary evaluation on maintainability, browser capability and comprehensiveness. Conclusions: The use of commercial tools for testing automation in IoT is feasible. However, major challenges like high data volumes and parallel transmission and processing of data need to be addressed comprehensively for complete integration.

Benjamin M. Bolker, Matheus R. Grasselli, Emma Holmes

We conduct a sensitivity analysis of a new type of integrated climate-economic model recently proposed in the literature, where the core economic component is based on the Goodwin-Keen dynamics instead of a neoclassical growth model. Because these models can exhibit much richer behaviour, including multiple equilibria, runaway trajectories and unbounded oscillations, it is crucial to determine how sensitive they are to changes in underlying parameters. We focus on four economic parameters (markup rate, speed of price adjustments, coefficient of money illusion, growth rate of productivity) and two climate parameters (size of upper ocean reservoir, equilibrium climate sensitivity) and show how their relative effects on the outcomes of the model can be quantified by methods that can be applied to an arbitrary number of parameters.

Anthony Enisan Akinlo, Segun Michael Ojo

This paper examines the economic consequences of the COVID-19 pandemic to sub-Saharan Africa (SSA) using the historical approach by analyzing the policy responses of the region to past crises and their economic consequences. The study employs the manufacturing-value-added share of GDP as a performance indicator. The analysis shows that wrong policy intervention to past crises, lead the African sub-region into the deplorable economic situation. The study observed that the region leapfrogged prematurely to import substitution, export promotion, and global value chains. Based on these past experiences, the region should adopt a gradual approach in responding to the COVID-19 economic consequences. The sub-region should first address relevant areas of sustainability, including proactive investment in research and development to develop home-grown technology, upgrade essential infrastructural facilities, develop security infrastructures, and strengthen the financial sector.

CARAIMAN ADRIAN-COSMIN

ct: In corporate governance, control consists of the elements of an organization, respectively the resources, systems, processes, culture, structure and tasks that collectively support individuals/employees to achieve its objectives, the organization's one. The CoCo control framework is a powerful mechanism that allows an organization to focus on the key structures, values and processes that together form the concept of control and in which people are part of the process. In these circumstances, the control criteria are, for the control teams and all staff, a way of dynamic understanding of the principles of control and therefore represent a more advanced control framework. In the conception of the CoCo pattern, internal control is represented by the organization's resources, processes, tools, tasks, culture, practically everything that can be undertaken to achieve the objectives of the entity, and one of the important prerogatives of control is to ensure reliability and to a certain extent the guarantee of the organization in achieving its objectives. In this article I will look at the conceptual framework on the CoCo pattern in corporate governance.