Abstract: Conservation and urban investment are a prerequisite to improve the quality of life. Since the historic street is a part of the economic system, it should be able to play an important role in the city development by upgrading all services, public open spaces and reuse of historical buildings and sites. Furthermore, historical conservation enriches the political, economic, social, cultural and functional aspects of the site. Rosetta has been selected as an area of study because it has a unique character due to its possession of a variety of monuments and historical buildings. The aim of this research is to analyze the existing situation of an historic street named El Sheikh Kandil, to be able to identify the potentials and problems. The paper gives a proposal for the redesign and reinvestment of the street and the reuse for the historical buildings to serve the community, users and visitors. Then, it concludes with recommendations to improve quality of life through the rehabilitation of the historical buildings and strengthening of the cultural and historical identity of the street. Rosetta city can benefit from these development proposals by preserving and revitalizing its unique character which leads to tourism development and benefits from the new investments.
Abstract: Foreign direct investment is a driving force in the development of the interdependent national economies, and the study and analysis of investments is an urgent problem. It is particularly important for transitional economies, such as Georgia, and the study and analysis of investments is an urgent problem. Consequently, the goal of the research is the study and analysis of direct foreign investments in Georgia, and identification and forecasting of modern trends, and covers the period of 2006-2015. The study uses the methods of statistical observation, grouping and analysis, the methods of analytical indicators of time series, trend identification and the predicted values are calculated, as well as various literary and Internet sources relevant to the research. The findings showed that modern investment policy In Georgia is favorable for domestic as well as foreign investors. Georgia is still a net importer of investments. In 2015, the top 10 investing countries was led by Azerbaijan, United Kingdom and Netherlands, and the largest share of FDIs were allocated in the transport and communication sector; the financial sector was the second, followed by the health and social work sector, and the same trend will continue in the future.
Abstract: The purpose of this paper is to address the functions of sustainability dimensions in city information modelling and to present the required sustainability criteria that support establishing a sustainable planning framework for enhancing existing cities and developing future smart cities. The paper is divided into two sections. The first section is based on the examination of a wide and extensive array of cross-disciplinary literature in the last decade and a half to conceptualize the terms ‘sustainable’ and ‘smart city’, and map their associated criteria to city information modelling. The second section is based on analyzing two approaches relating to city information modelling, namely statistical and dynamic approaches, and their suitability in the development of cities’ action plans. The paper argues that the use of statistical approaches to embed sustainability dimensions in city information modelling have limited value. Despite the popularity of such approaches in addressing other dimensions like utility and service management in development and action plans of the world cities, these approaches are unable to address the dynamics across various city sectors with regards to economic, environmental and social criteria. The paper suggests an integrative dynamic and cross-disciplinary planning approach to embedding sustainability dimensions in city information modelling frameworks. Such an approach will pave the way towards optimal planning and implementation of priority actions of projects and investments. The approach can be used to achieve three main goals: (1) better development and action plans for world cities (2) serve the development of an integrative dynamic and cross-disciplinary framework that incorporates economic, environmental and social sustainability criteria and (3) address areas that require further attention in the development of future sustainable and smart cities. The paper presents an innovative approach for city information modelling and a well-argued, balanced hierarchy of sustainability criteria that can contribute to an area of research which is still in its infancy in terms of development and management.
Abstract: From the strategic point of view, not all Foreign Direct Investments (FDIs) are always positively benefiting the host economy, i.e. not all Multinational Enterprises (MNEs) are promoting local/host economies. FDI could have different impact on different sectors of the economy, based not only on annual investment amount, but MNE motivations and peculiarities of the host economy in particular. FDI analysis based only on its amount can lead to incorrect decisions, it is much more important to understand the essence of investment. Consequently, our research is oriented on MNE’s motivations, answering which sectors are most popular among international investors and why, what motivated them to invest into one or another business. Georgian economy for the last period of time is attracting more and more efficiency seeking investments, which could be translated as - concentrating production in a limited number of locations to supply various markets, while benefiting local economy with: new technologies, employment, exports diversification, increased income for the local economy and so on. Foreign investors and MNEs in particular are no longer and not so much interested in the resource seeking investments, which was the case for Georgia in the last decade of XX century. Despite the fact of huge progress for the Georgian economy, still there is a room for foreign investors to make a local market oriented investments. The local market is still rich in imported products, which should be replaced by local ones. And the last but not the least important issue is that approximately 30% of all FDIs in Georgia according to this research are “efficiency seeking” investments, which is an enormous progress and a hope for future Georgian success.
Abstract: The objective of this study is to determine how entrepreneurs perceive the economic, social and physical impacts of tourism. The study was conducted in the city of Afyonkarahisar, Turkey, which is rich in thermal tourism resources and investments. A survey was used as the data collection method, and the questionnaire was applied to 472 entrepreneurs. A simple random sampling method was used to identify the sample. Independent sampling t-tests and ANOVA tests were used to analyse the data obtained. Additionally, some statistically significant differences (p
Abstract: The continued growth of tourism in the future relies on maintaining a clean environment by achieving sustainable development. The erosion and degradation of beaches, the deterioration of coastal water quality, visual pollution of coastlines by massive developments, all this has contributed heavily to the loss of the natural attractiveness for tourism. In light of this, promoting the concept of sustainable coastal development is becoming a central goal for governments and private sector. An ecolodge is a small hotel or guesthouse that incorporates local architectural, cultural and natural characteristics, promotes environmental conservation through minimizing the use of waste and energy and produces social and economic benefits for local communities. Egypt has some scattered attempts in some areas like Sinai in the field of ecolodging. This research tends to investigate the potentials of the North West Coast (NWC) in Alexandria as a new candidate for ecolodging investments. The area is full of primitive natural and man-made resources. These, if used in an environmental-friendly way could achieve cost reductions as a result of successful resource management for investors on the one hand, and coastal preservation on the other hand. In-depth interviews will be conducted with stakeholders in the tourism sector to examine their opinion about the potentials of the research area for ecolodging developments. The candidates will be also asked to rate the importance of the availability of certain environmental aspects in such establishments such as the uses of resources that originate from local communities, uses of natural power sources, uses of an environmental-friendly sewage disposal, forbidding the use of materials of endangered species and enhancing cultural heritage conservation. The results show that the area is full of potentials that could be effectively used for ecolodging investments. This if efficiently used could attract ecotourism as a supplementary type of tourism that could be promoted in Alexandria aside cultural, recreational and religious tourism.
Abstract: The demand for Urban transportation is characterised by a large scale temporal and spatial variations which causes heavy congestion inside metro trains in peak hours near Centre Business District (CBD) of the city. The conventional approach to address peak hour congestion, metro trains has been to increase the supply by way of introduction of more trains, increasing the length of the trains, optimising the time table to increase the capacity of the system. However, there is a limitation of supply side measures determined by the design capacity of the systems beyond which any addition in the capacity requires huge capital investments. The demand side interventions are essentially required to actually spread the demand across the time and space. In this study, an attempt has been made to identify the potential Transport Demand Management tools applicable to Urban Rail Transportation systems with a special focus on differential pricing. A conceptual price elasticity model has been developed to analyse the effect of various combinations of peak and nonpeak hoursfares on demands. The elasticity values for peak hour, nonpeak hour and cross elasticity have been assumed from the relevant literature available in the field. The conceptual price elasticity model so developed is based on assumptions which need to be validated with actual values of elasticities for different segments of passengers. Once validated, the model can be used to determine the peak and nonpeak hour fares with an objective to increase overall ridership, revenue, demand levelling and optimal utilisation of assets.
Abstract: People, throughout the history, have made estimates
and inferences about the future by using their past experiences.
Developing information technologies and the improvements in the
database management systems make it possible to extract useful
information from knowledge in hand for the strategic decisions.
Therefore, different methods have been developed. Data mining by
association rules learning is one of such methods. Apriori algorithm,
one of the well-known association rules learning algorithms, is not
commonly used in spatio-temporal data sets. However, it is possible
to embed time and space features into the data sets and make Apriori
algorithm a suitable data mining technique for learning spatiotemporal
association rules. Lake Van, the largest lake of Turkey, is a
closed basin. This feature causes the volume of the lake to increase or
decrease as a result of change in water amount it holds. In this study,
evaporation, humidity, lake altitude, amount of rainfall and
temperature parameters recorded in Lake Van region throughout the
years are used by the Apriori algorithm and a spatio-temporal data
mining application is developed to identify overflows and newlyformed
soil regions (underflows) occurring in the coastal parts of
Lake Van. Identifying possible reasons of overflows and underflows
may be used to alert the experts to take precautions and make the
necessary investments.
Abstract: This paper seeks to assess the implications of bank
consolidation on the performance of small and medium scale
enterprises in the Nigerian economy. Multiple linear regression
technique and correlation matrix test were employed to measure the
extent to which small and medium scale enterprises asset size,
survival and access to credit were influenced. The result showed that
bank deposit (BD) and bank credit (L or BC) impacted on asset size
and survival of small and medium scale enterprises. None of the
variables had significant impact on SMEs access to credit. There is a
shift of focus by commercial banks away from small and medium
scale enterprises (small customers), which is evidenced by the
significant negative influence of bank credit to both the survival and
asset size of small and medium enterprises. While micro finance
banks work hard at providing funds to small and medium scale
entrepreneurs, their capacity to meet the needs of these entrepreneurs
is constrained. CBN should make policies that will boost micro
finance bank’s capital and also monitor closely the management of
the banks to ensure prudent financing of small and medium scale
investments.
Abstract: In developing countries, one of the most important
restrictions about the economic growth is the lack of national savings
which are supposed to finance the investments. In order to overcome
this restriction and achieve the higher rate of economic growth by
increasing the level of output, countries choose the external
borrowing. However, there is a dispute in the literature over the
correlation between external debt and economic growth. The aim of
this study is to examine the effects of external debt on Turkish
economic growth by using VAR analysis with the quarterly data over
the period of 2002:01-2014:04. In this respect, Johansen
Cointegration Test, Impulse- Response Function and Variance
Decomposition Tests will be used for analyses. Empirical findings
show that there is no cointegration in the long run.
Abstract: The main objective of this article is to examine the
impact of interest rates on investments in Poland in the context of
financial crisis. The paper also investigates the dependence of bank
loans to enterprises on interbank market rates. The article studies the
impact of interbank market rate on the level of investments in Poland.
Besides, this article focuses on the research of the correlation
between the level of corporate loans and the amount of investments
in Poland in order to determine the indirect impact of central bank
interest rates through the transmission mechanism of monetary policy
on the real economy. To achieve the objective we have used
econometric and statistical research methods like: econometric model
and Pearson correlation coefficient.
This analysis suggests that the central bank reference rate
inversely proportionally affects the level of investments in Poland
and this dependence is moderate. This is also important issue because
it is related to preparing of Poland to accession to euro area. The
research is important from both theoretical and empirical points of
view. The formulated conclusions and recommendations determine
the practical significance of the paper which may be used in the
decision making process of monetary and economic authorities of the
country.
Abstract: The paper discusses mineral water consumer market
and development policy in Georgia, the tools and measures, which
will contribute to production of mineral waters and increase its
export.
The paper studies and analyses current situation in mineral water
production sector as well as the factors affecting increase and
reduction of its export. It’s noted that in order to gain and maintain
competitive advantage, it’s necessary to provide continuous supply of
high quality goods with modern design, open new distribution
channels to enter new markets, carry out broad promotional activities,
organize e-commerce. Economic policy plays an important role in
protecting markets from counterfeit goods. The state also plays an
important role in attracting foreign direct investments. Stable
business environment and export oriented strategy is the basis for the
country’s economic growth.
Based on the research, the paper suggests the strategy for
improving competitiveness of Georgian mineral waters; relevant
conclusions and recommendations are provided.
Abstract: Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds.Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources.Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund.The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.
Abstract: The decision-making processes in Corporate Social Responsibility (CSR) among firms in the airlines industry borders on the benefits that accrue to firms through those investments. The crux of the matter is how firms can quantify the benefits derived from such investments. This paper analyses the cost benefit adjustment strategies for firms in the airline industry in their CSR strategy adoption and implementation. The paper discusses the CBA model in order to understand the ways airlines can reduce costs and increase returns on CSR, or balance the cost and benefits. The analysis indicates that, economic concepts especially the CBA are useful, though they are not without challenges. This paper concludes that the CBA model gives a basic understanding of the motivations for investing in intangible assets like CSR. It sets the tone for formulating relevant hypothesis in empirical studies in investment in CSR and other intangible assets in business operations.
Abstract: Malaysia has successfully applied economic planning
to guide the development of the country from an economy of
agriculture and mining to a largely industrialised one. Now, with its
sights set on attaining the economic level of a fully developed nation
by 2020, the planning system must be made even more efficient and
focused.
It must ensure that every investment made in the country, contribute
towards creating the desirable objective of a strong, modern,
internationally competitive, technologically advanced, post-industrial
economy. Cities in Malaysia must also be fully aware of the enormous
competition it faces in a region with rapidly expanding and
modernising economies, all contending for the same pool of potential
international investments.
Efficiency of urban governance is also fundamental issue in
development characterized by sustainability, subsidiarity, equity,
transparency and accountability, civic engagement and citizenship, and
security. As described above, city competitiveness is harnessed
through 'city marketing and city management'.
High technology and high skilled industries, together with finance,
transportation, tourism, business, information and professional
services shopping and other commercial activities, are the principal
components of the nation-s economy, which must be developed to a
level well beyond where it is now. In this respect, Kuala Lumpur being
the premier city must play the leading role.
Abstract: We present the induced generalized hybrid
averaging (IGHA) operator. It is a new aggregation operator
that generalizes the hybrid averaging (HA) by using
generalized means and order inducing variables. With this
formulation, we get a wide range of mean operators such as
the induced HA (IHA), the induced hybrid quadratic
averaging (IHQA), the HA, etc. The ordered weighted
averaging (OWA) operator and the weighted average (WA)
are included as special cases of the HA operator. Therefore,
with this generalization we can obtain a wide range of
aggregation operators such as the induced generalized OWA
(IGOWA), the generalized OWA (GOWA), etc. We further
generalize the IGHA operator by using quasi-arithmetic
means. Then, we get the Quasi-IHA operator. Finally, we also
develop an illustrative example of the new approach in a
financial decision making problem. The main advantage of the
IGHA is that it gives a more complete view of the decision
problem to the decision maker because it considers a wide
range of situations depending on the operator used.
Abstract: In accordance with environmental impacts contended in Kyoto Protocol, the study aims to explore the different administrative and non-administrative measurements that industrial countries, such as America, German, Japan, Korea, Holland and British take to face with the increasing Global Warming phenomena. By large, these measurements consist of versatile dimensions, including of education and advocating, economical instruments, research developments and instances, restricted instruments, voluntary contacts, exchangeable permit for carbon-release and public investments. The results of discussion for the study are as follows: both economical impacts as well as reformations for nations that are affected via Kyoto Protocol, and human testifying for variables of global surroundings in the age of Kyoto Protocol.
Abstract: Environmental investments, including ecological
projects, relating to the protection of atmosphere are today a need.
However, investing in the environment should be based on rational
management rules. This comes across a problem of selecting a
method to assess substances reduced during projects. Therefore, a
method allowing for the assessment of decision rationality has to be
found.
The purpose of this article is to present and systematise pollution
reduction assessment methods and illustrate theoretical analyses with
empirical data.
Empirical results confirm theoretical considerations, which proved
that the only method for judging pollution reduction, free of apparent
disadvantages, is the Eco 99-ratio method. To make decisions on
environmental projects, financing institutions should take into
account a rationality rule. Therefore the Eco 99-ratio method could
be applied to make decisions relating to environmental investments in
the area of air protection.
Abstract: Wireless Mesh Networks (WMNs) are an emerging
technology for last-mile broadband access. In WMNs, similar to ad
hoc networks, each user node operates not only as a host but also as a
router. User packets are forwarded to and from an Internet-connected
gateway in multi-hop fashion. The WMNs can be integrated with
other networking technologies i.e. ad hoc networks, to implement a
smooth network extension. The meshed topology provides good
reliability and scalability, as well as low upfront investments. Despite
the recent start-up surge in WMNs, much research remains to be
done in standardizing the functional parameters of WMNs to fully
exploit their full potential. An edifice of the security concerns of
these networks is authentication of a new client joining an integrated
ad hoc network and such a scenario will require execution of a multihop
authentication technique. Our endeavor in this paper is to
introduce a secure authentication technique, with light over-heads
that can be conveniently implemented for the ad-hoc nodes forming
clients of an integrated WMN, thus facilitating their inter-operability.