Abstract: The aim of this paper is to investigate the influence of
market share and diversification on the nonlife insurers- performance.
The underlying relationships have been investigated in different
industries and different disciplines (economics, management...), still,
no consistency exists either in the magnitude or statistical
significance of the relationship between market share (and
diversification as well) on one side and companies- performance on
the other side. Moreover, the direction of the relationship is also
somewhat questionable. While some authors find this relationship to
be positive, the others reveal its negative association. In order to test
the influence of market share and diversification on companies-
performance in Croatian nonlife insurance industry for the period
from 1999 to 2009, we designed an empirical model in which we
included the following independent variables: firms- profitability
from previous years, market share, diversification and control
variables (i.e. ownership, industrial concentration, GDP per capita,
inflation). Using the two-step generalized method of moments
(GMM) estimator we found evidence of a positive and statistically
significant influence of both, market share and diversification, on
insurers- profitability.
Abstract: The study investigates the causal link between trade
openness and economic growth for four South Asian countries for
period 1972-1985 and 1986-2007 to examine the scenario before and
after the implementation of SAARC. Panel cointegration and
FMOLS techniques are employed for short run and long run
estimates. In 1972-85 short run unidirectional causality from GDP to
openness is found whereas, in 1986-2007 there exists bi-directional
causality between GDP and openness. The long run elasticity
magnitude between GDP and openness contains negative sign in
1972-85 which shows that there exists long run negative relationship.
While in time period 1986-2007 the elasticity magnitude has positive
sign that indicates positive causation between GDP and openness. So
it can be concluded that after the implementation of SAARC overall
situation of selected countries got better. Also long run coefficient of
error term suggests that short term equilibrium adjustments are driven
by adjustment back to long run equilibrium.
Abstract: The objective of this study is to examine the validity of Wagner-s law and relationship between economic growth, population and export for Pakistan. The ARDL Bounds cointegration and ECM are utilized for long and short run equilibrium for the period of 1972-2007. Population has considerable role in an economy and exports are the main source to raise the GDP. With the increase in GDP, the government expenditures may or may not increase. The empirical results indicate that the Wagner-s Law does hold, as economic growth is significantly and positively correlated with government expenditures. However, population and exports have also significant and positive impact on government expenditures both in short and long run. The significant and negative coefficient of error correction term in ECM indicates that after a shock, the long rum equilibrium will again converge towards equilibrium about 70.82 percent within a year.
Abstract: This research examines possible effects of climatic
change focusing on global warming and its impacts on world
agricultural product markets, by using a world food model developed
to consider climate changes. GDP and population for each scenario
were constructed by IPCC and climate data for each scenario was
reported by the Hadley Center and are used in this research to consider
results in different contexts. Production and consumption of primary
agriculture crops of the world for each socio-economic scenario are
obtained and investigated by using the modified world food model.
Simulation results show that crop production in some countries or
regions will have different trends depending on the context. These
alternative contexts depend on the rate of GDP growth, population,
temperature, and rainfall. Results suggest that the development of
environment friendly technologies lead to more consumption of food
in many developing countries. Relationships among environmental
policy, clean energy development, and poverty elimination warrant
further investigation.
Abstract: Tourism and coastal lines are the business sectors
since centuries especially in the European Nations and Albania is one
such spots. However, in recent decades tourism is experienced as
vulnerability of the surrounding ecological conditions of air, soil,
water, land and the communities that are dependant and sharing the
ecosystem among flora and fauna. Experts opine that apart from the
maintenance of near-originality of ecological biodiversity the tourism
rather known as ecotourism an indigenous socio-cultural
maintenance of indigenous/traditional knowledge of the local people
must be well cared in order to sustain on sustainable grounds. As a
general tendency, growth of tourism has been affected by the deterioration in the economic conditions on one aspect and unsustainable ecological areas affected since human interventions
earlier to this has negative impact on futuristic tourist spots. However, tourism in Albania as of now is 11% of GDP and coastal regions accounting to 2-4%. An amicable Mediterranean
climate with 300 sunny days similar parameters of Greece and Spain
throws up sustainable ecotourism in future decades provided public services namely, transportation, road safety, lodging, food
availability, recreational regiments, banking accessibility are as per
the World Tourism Organizations- protocols. Thus as of Albanian
situation, classification of ecotourism activities to safe-guard the localities with its maintenance of ecological land, water and climate
has become a paramount importance with a wanting and satisfactory options through harnessing human energy for profit and fitness of
ecological flora and fauna. A check on anthropogenic wastes and
their safer utilizations inclusive of agricultural and industrial
operations in line with Lalzi Bay Coastal Line are of utmost importance for the reason that the Adriatic Sea Coast is the one long
stretch of Albanian Lifeline. The present work is based on the methodology of the sustainable management of the same issue.
Abstract: Basel III (or the Third Basel Accord) is a global
regulatory standard on bank capital adequacy, stress testing and
market liquidity risk agreed upon by the members of the Basel
Committee on Banking Supervision in 2010-2011, and scheduled to
be introduced from 2013 until 2018. Basel III is a comprehensive set
of reform measures. These measures aim to; (1) improve the banking
sector-s ability to absorb shocks arising from financial and economic
stress, whatever the source, (2) improve risk management and
governance, (3) strengthen banks- transparency and disclosures.
Similarly the reform target; (1) bank level or micro-prudential,
regulation, which will help raise the resilience of individual banking
institutions to periods of stress. (2) Macro-prudential regulations,
system wide risk that can build up across the banking sector as well
as the pro-cyclical implication of these risks over time. These two
approaches to supervision are complementary as greater resilience at
the individual bank level reduces the risk system wide shocks.
Macroeconomic impact of Basel III; OECD estimates that the
medium-term impact of Basel III implementation on GDP growth is
in the range -0,05 percent to -0,15 percent per year. On the other hand
economic output is mainly affected by an increase in bank lending
spreads as banks pass a rise in banking funding costs, due to higher
capital requirements, to their customers. Consequently the estimated
effects on GDP growth assume no active response from monetary
policy. Basel III impact on economic output could be offset by a
reduction (or delayed increase) in monetary policy rates by about 30
to 80 basis points. The aim of this paper is to create a framework
based on the recent regulations in order to prevent financial crises.
Thus the need to overcome the global financial crisis will contribute
to financial crises that may occur in the future periods. In the first
part of the paper, the effects of the global crisis on the banking
system examine the concept of financial regulations. In the second
part; especially in the financial regulations and Basel III are analyzed.
The last section in this paper explored the possible consequences of
the macroeconomic impacts of Basel III.
Abstract: The service sector continues to grow and the percentage
of GDP accounted for by service industries keeps increasing. The
growth and importance of service to an economy is not just a
phenomenon of advanced economies, service is now a majority of the
world gross domestic products. However, the performance evaluation
process of new service development problems generally involves
uncertain and imprecise data. This paper presents a 2-tuple fuzzy
linguistic computing approach to dealing with heterogeneous
information and information loss problems while the processes of
subjective evaluation integration. The proposed method based on group
decision-making scenario to assist business managers in measuring
performance of new service development manipulates the
heterogeneity integration processes and avoids the information loss
effectively.
Abstract: The present research was focused to investigate the
role of investment in the course of economic growth with reference to
Pakistan. The study analyzed the role of the public and private
investment and impact of the political and macroeconomic
uncertainty on economic growth of Pakistan by using the vector
autoregressive approach (VAR). In long-run both public and private
investment showed a positive impact on economic growth but the
growth was largely driven by private investment as compared to
public investment. Government consumption expenditure, economic
uncertainty and political instability hampered the economic growth of
Pakistan. In short-run the private investment positively influences the
growth but there was negative and insignificant effect of the public
investment and government consumption expenditure on the growth.
There was a positive relationship found between economic
uncertainty (proxy for inflation) and GDP in short run.
Abstract: Agriculture is one of the single largest sectors of Bangladesh economy. Bangladesh is an agro based country and predominantly is an agrarian economy. It is the backbone of the economy of Bangladesh. Around 75% of the total population directly or indirectly depends on agriculture and near about 84% of the total population lives in rural areas almost depend on agriculture for livelihood. Agriculture includes the sub-sectors of crop, livestock, forestry and fisheries. The contribution of all sub sectors is around 22.83 percent to national GDP in 2003-2004. The crops sub sector alone contributes 12.94 percent of GDP.
Abstract: Environmental performance of the U.S. States is investigated for the period of 1990 – 2007 using Stochastic Frontier Analysis (SFA). The SFA accounts for both efficiency measure and stochastic noise affecting a frontier. The frontier is formed using indicators of GDP, energy consumption, population, and CO2 emissions. For comparability, all indicators are expressed as ratios to total. Statistical information of the Energy Information Agency of the United States is used. Obtained results reveal the bell - shaped dynamics of environmental efficiency scores. The average efficiency scores rise from 97.6% in 1990 to 99.6% in 1999, and then fall to 98.4% in 2007. The main factor is insufficient decrease in the rate of growth of CO2 emissions with regards to the growth of GDP, population and energy consumption. Data for 2008 following the research period allow for an assumption that the environmental performance of the U.S. States has improved in the last years.
Abstract: An integrated Artificial Neural Network- Particle Swarm Optimization (PSO) is presented for analyzing global electricity consumption. To aim this purpose, following steps are done: STEP 1: in the first step, PSO is applied in order to determine world-s oil, natural gas, coal and primary energy demand equations based on socio-economic indicators. World-s population, Gross domestic product (GDP), oil trade movement and natural gas trade movement are used as socio-economic indicators in this study. For each socio-economic indicator, a feed-forward back propagation artificial neural network is trained and projected for future time domain. STEP 2: in the second step, global electricity consumption is projected based on the oil, natural gas, coal and primary energy consumption using PSO. global electricity consumption is forecasted up to year 2040.
Abstract: The effects of global warming on India vary from the
submergence of low-lying islands and coastal lands to the melting of
glaciers in the Indian Himalayas, threatening the volumetric flow rate
of many of the most important rivers of India and South Asia. In
India, such effects are projected to impact millions of lives. As a
result of ongoing climate change, the climate of India has become
increasingly volatile over the past several decades; this trend is
expected to continue.
Climate change is one of the most important global environmental
challenges, with implications for food production, water supply,
health, energy, etc. Addressing climate change requires a good
scientific understanding as well as coordinated action at national and
global level. The climate change issue is part of the larger challenge
of sustainable development. As a result, climate policies can be more
effective when consistently embedded within broader strategies
designed to make national and regional development paths more
sustainable. The impact of climate variability and change, climate
policy responses, and associated socio-economic development will
affect the ability of countries to achieve sustainable development
goals.
A very well calibrated Soil and Water Assessment Tool (R2 =
0.9968, NSE = 0.91) was exercised over the Khatra sub basin of the
Kangsabati River watershed in Bankura district of West Bengal,
India, in order to evaluate projected parameters for agricultural
activities. Evapotranspiration, Transmission Losses, Potential
Evapotranspiration and Lateral Flow to reach are evaluated from the
years 2041-2050 in order to generate a picture for sustainable
development of the river basin and its inhabitants.
India has a significant stake in scientific advancement as well as
an international understanding to promote mitigation and adaptation.
This requires improved scientific understanding, capacity building,
networking and broad consultation processes. This paper is a
commitment towards the planning, management and development of
the water resources of the Kangsabati River by presenting detailed
future scenarios of the Kangsabati river basin, Khatra sub basin, over
the mentioned time period.
India-s economy and societal infrastructures are finely tuned to the
remarkable stability of the Indian monsoon, with the consequence
that vulnerability to small changes in monsoon rainfall is very high.
In 2002 the monsoon rains failed during July, causing profound loss
of agricultural production with a drop of over 3% in India-s GDP.
Neither the prolonged break in the monsoon nor the seasonal rainfall
deficit was predicted. While the general features of monsoon
variability and change are fairly well-documented, the causal
mechanisms and the role of regional ecosystems in modulating the
changes are still not clear. Current climate models are very poor at
modelling the Asian monsoon: this is a challenging and critical
region where the ocean, atmosphere, land surface and mountains all
interact. The impact of climate change on regional ecosystems is
likewise unknown. The potential for the monsoon to become more
volatile has major implications for India itself and for economies
worldwide. Knowledge of future variability of the monsoon system,
particularly in the context of global climate change, is of great
concern for regional water and food security.
The major findings of this paper were that of all the chosen
projected parameters, transmission losses, soil water content,
potential evapotranspiration, evapotranspiration and lateral flow to
reach, display an increasing trend over the time period of years 2041-
2050.
Abstract: Despite the fact that B2c eCommerce has become
important in numerous economies, its adoption varies from country to
country. This paper aims to identify the factors affecting (enabling or
inhibiting) B2c eCommerce and to determine their quantitative
impact on the diffusion of online sales across countries. A dynamic
panel model analyzing the relationship between 13 factors
(Macroeconomic, Demographic, Socio-Cultural, Infrastructural and
Offer related) stemming from a complete literature analysis and the
B2c eCommerce value in 45 countries over 9 years has been
developed. Having a positive correlation coefficient, GDP, mobile
penetration, Internet user penetration and credit card penetration
resulted as enabling drivers of the B2c eCommerce value across
countries, whereas, having a negative correlation coefficient,equal
distribution of income and the development of traditional retailing
network act as inhibiting factors.