Abstract: The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.
Abstract: The banking sector poses a lot of problems in Nigeria in general and the non-oil export sector in particular. The banks' lack effectiveness in handling small, medium or long-term credit risk (lack of training of loan officers, lack of information on borrowers and absence of a reliable credit registry) results in non-oil exporters being burdened with high requirements, such as up to three years of financial statements, enough collateral to cover both the loan principal and interest (including a cash deposit that may be up to 30% of the loans' net present value), and to provide every detail of the international trade transaction in question. The stated problems triggered this research. Consequently, information on bank financing of non-oil exports was collected from 100 respondents from the 20 Deposit Money Banks (DMBs) in Nigeria. The data was analysed by the use of descriptive statistics correlation and regression. It is found that, Nigerian banks are participants in the financing of non-oil exports. Despite their participation, the rate of interest for credit extended to non-oil export is usually high, ranging between 15-20%. Small and medium sized non-oil export businesses lack the credit history for banks to judge them as reputable. Banks also consider the non-oil export sector very risky for investment. The banks actually do grant less credit than the exporters may require and therefore are not properly funded by banks. Banks grant very low volume of foreign currency loan in addition to, unfavorable exchange rate at which Naira is exchanged to the Dollar and other currencies in the country. This makes importation of inputs costly and negatively impacted on the non-oil export performance in Nigeria.
Abstract: The purpose of this paper is to examine co-creation of non-economic values in Islamic banking services and their significance for service science by comparing Islamic and conventional banking services. Although many scholars have discussed co-creation of values in services, most of them have focused on only economic values.
Following Sharia (Islamic principles that are based on Qur’an and Sunnah) traditions, Islamic banking is more concerned with such non-economic values as well-being, partnership, fairness, trust, and justice, than such economic values as money in terms of interest. Therefore, it may be more sustainable and suitable for today’s unpredictable socio-economic environments.
We also argue that Islamic banking is essentially a value co-creation business model that fits better with the so-called Service-Dominant Logic (SDL) than conventional banking. This paper explores a new frontier of value co-creation in services, thereby contributing to further development of service science.
Abstract: Motion sensors have been commonly used as a valuable component in mechatronic systems, however, many mechatronic designs and applications that need motion sensors cost enormous amount of money, especially high-tech systems. Design of a software for communication protocol between data acquisition card and motion sensor is another issue that has to be solved. This study presents how to design a low cost motion data acquisition setup consisting of MPU 6050 motion sensor (gyro and accelerometer in 3 axes) and Arduino Mega2560 microcontroller. Design parameters are calibration of the sensor, identification and communication between sensor and data acquisition card, interpretation of data collected by the sensor.
Abstract: Anti-money laundering is commonly recognized as a
set of procedures, laws or regulations designed to reduce the practice
of generating income through illegal actions. In Malaysia, the
government and law enforcement agencies have stepped up their
capacities and efforts to curb money laundering since 2001. One of
these measures was the enactment of the Anti-Money Laundering
Act (AMLA) in 2001. The implementation costs on anti-money
laundering requirements (AMLR) can be burdensome to those who
are involved in enforcing them. The objective of this paper is to
explore the perceived effectiveness of AMLR from the enforcement
agencies- perspective. This is a preliminary study whose findings
will help to give direction for further AML research in Malaysia. In
addition, the results of this study provide empirical evidences on the
perceived effectiveness of AMLR prior to further investigations on
barriers and improvements of the implementation of the anti-money
laundering regime in Malaysia.
Abstract: Combined therapy using Interferon and Ribavirin is the standard treatment in patients with chronic hepatitis C. However, the number of responders to this treatment is low, whereas its cost and side effects are high. Therefore, there is a clear need to predict patient’s response to the treatment based on clinical information to protect the patients from the bad drawbacks, Intolerable side effects and waste of money. Different machine learning techniques have been developed to fulfill this purpose. From these techniques are Associative Classification (AC) and Decision Tree (DT). The aim of this research is to compare the performance of these two techniques in the prediction of virological response to the standard treatment of HCV from clinical information. 200 patients treated with Interferon and Ribavirin; were analyzed using AC and DT. 150 cases had been used to train the classifiers and 50 cases had been used to test the classifiers. The experiment results showed that the two techniques had given acceptable results however the best accuracy for the AC reached 92% whereas for DT reached 80%.
Abstract: This paper explores the features of political economy in the dynamics of representative politics in India. Politics is seen as enhancing economic benefits through acquiring and maintenance of power in the realm of democratic set up. The system of representation is riddled with competitive populism. Emerging leaders and parties are forced to accommodate their ideologies in coping with competitive politics. Electoral politics and voting behaviour reflect series of influences mooted by the politicians. Voters are accustomed to expect benefits outs of state exchequer. The electoral competitors show a changing phase of investment and return policy. Every elector has to spend and realize his costs in his tenure. In the case of defeated electors, even the cost recovery is not possible directly; there are indirect means to recover their costs. The series of case studies show the method of party funding, campaign financing, electoral expenditure, and cost recovery. Regulations could not restrict the level of spending. Several cases of disproportionate accumulation of wealth by the politicians reveal that money played a major part in electoral process. The political economy of representative politics hitherto ignores how a politician spends and recovers his cost and multiples his wealth. To be sure, the acquiring and maintenance of power is to enhance the wealth of the electors.
Abstract: The history of money is described in relationship to the history of computing. With the transformation and acceptance of money as information, major challenges to the security of money have involved engineering, computer science, and management. Research opportunities and challenges are described as money continues its transformation into information.
Abstract: The quality improvements of the environmental
elements could increase the recreational opportunities in a certain
area (destination). The technique of the need for recreation focuses
on choosing certain destinations for recreational purposes. The basic
exchange taken into consideration is the one between the satisfaction
gained after staying in that area and the value expressed in money
and time allocated. The number of tourists in the respective area, the
duration of staying and the money spent including transportation
provide information on how individuals rank the place or certain
aspects of the area (such as the quality of the environmental
elements).
For the statistical analysis of the environmental benefits offered by
an area through the need of recreation technique, the following stages
are suggested:
- characterization of the reference area based on the
statistical variables considered;
- estimation of the environmental benefit through
comparing the reference area with other similar areas
(having the same environmental characteristics), from
the perspective of the statistical variables considered.
The model compared in recreation technique faced with a series of
difficulties which refers to the reference area and correct
transformation of time in money.
Abstract: In the past 20 years the economy of the Czech
Republic has experienced substantial changes. In the 1990s the
development was affected by the transformation which sought to
establish the right conditions for privatization and creation of
elementary market relations. In the last decade the characteristic
elements such as private ownership and corresponding institutional
framework have been strengthened. This development was marked by
the accession of the Czech Republic to the EU. The Czech Republic
is striving to reduce the difference between its level of economic
development and the quality of institutional framework in
comparison with other developed countries. The process of finding
the adequate solutions has been hampered by the negative impact of
the world financial crisis on the Czech Republic and the standard of
living of its inhabitants. This contribution seeks to address the
question of whether and to which extent the economic development
of the transitive Czech economy is affected by the change in
behaviour of households and their tendency to consumption, i.e. in
the sense of reduction or increase in demand for goods and services.
It aims to verify whether the increasing trend of household
indebtedness and decreasing trend of saving pose a significant risk in
the Czech Republic. At a general level the analysis aims to contribute
to finding an answer to the question of whether the debt increase of
Czech households is connected to the risk of "eating through" the
borrowed money and whether Czech households risk falling into a
debt trap. In addition to household indebtedness risks in the Czech
Republic the analysis will focus on identification of specifics of the
transformation phase of the Czech economy in comparison with the
EU countries, or selected OECD countries.
Abstract: Today, money laundering (ML) poses a serious threat
not only to financial institutions but also to the nation. This criminal
activity is becoming more and more sophisticated and seems to have
moved from the cliché of drug trafficking to financing terrorism and
surely not forgetting personal gain. Most international financial
institutions have been implementing anti-money laundering solutions
(AML) to fight investment fraud. However, traditional investigative
techniques consume numerous man-hours. Recently, data mining
approaches have been developed and are considered as well-suited
techniques for detecting ML activities. Within the scope of a
collaboration project for the purpose of developing a new solution for
the AML Units in an international investment bank, we proposed a
data mining-based solution for AML. In this paper, we present a
heuristics approach to improve the performance for this solution. We
also show some preliminary results associated with this method on
analysing transaction datasets.
Abstract: Nowadays, computer worms, viruses and Trojan horse
become popular, and they are collectively called malware. Those
malware just spoiled computers by deleting or rewriting important
files a decade ago. However, recent malware seems to be born to earn
money. Some of malware work for collecting personal information so
that malicious people can find secret information such as password for
online banking, evidence for a scandal or contact address which relates
with the target. Moreover, relation between money and malware
becomes more complex. Many kinds of malware bear bots to get
springboards. Meanwhile, for ordinary internet users,
countermeasures against malware come up against a blank wall.
Pattern matching becomes too much waste of computer resources,
since matching tools have to deal with a lot of patterns derived from
subspecies. Virus making tools can automatically bear subspecies of
malware. Moreover, metamorphic and polymorphic malware are no
longer special. Recently there appears malware checking sites that
check contents in place of users' PC. However, there appears a new
type of malicious sites that avoids check by malware checking sites. In
this paper, existing protocols and methods related with the web are
reconsidered in terms of protection from current attacks, and new
protocol and method are indicated for the purpose of security of the
web.
Abstract: Project managers are the ultimate responsible for the
overall characteristics of a project, i.e. they should deliver the project
on time with minimum cost and with maximum quality. It is vital for
any manager to decide a trade-off between these conflicting
objectives and they will be benefited of any scientific decision
support tool. Our work will try to determine optimal solutions (rather
than a single optimal solution) from which the project manager will
select his desirable choice to run the project. In this paper, the
problem in project scheduling notated as
(1,T|cpm,disc,mu|curve:quality,time,cost) will be studied. The
problem is multi-objective and the purpose is finding the Pareto
optimal front of time, cost and quality of a project
(curve:quality,time,cost), whose activities belong to a start to finish
activity relationship network (cpm) and they can be done in different
possible modes (mu) which are non-continuous or discrete (disc), and
each mode has a different cost, time and quality . The project is
constrained to a non-renewable resource i.e. money (1,T). Because
the problem is NP-Hard, to solve the problem, a meta-heuristic is
developed based on a version of genetic algorithm specially adapted
to solve multi-objective problems namely FastPGA. A sample project
with 30 activities is generated and then solved by the proposed
method.
Abstract: In this paper real money demand function is analyzed
within multivariate time-series framework. Cointegration approach is
used (Johansen procedure) assuming interdependence between
money demand determinants, which are nonstationary variables. This
will help us to understand the behavior of money demand in Croatia,
revealing the significant influence between endogenous variables in
vector autoregrression system (VAR), i.e. vector error correction
model (VECM). Exogeneity of the explanatory variables is tested.
Long-run money demand function is estimated indicating slow speed
of adjustment of removing the disequilibrium. Empirical results
provide the evidence that real industrial production and exchange
rate explains the most variations of money demand in the long-run,
while interest rate is significant only in short-run.
Abstract: The main purpose of this paper is to research on the
methodologies of BYD to implement the opportune innovation. BYD
is a Chinese company which has the IT component manufacture, the
rechargeable battery and the automobile businesses. The paper deals
with the innovation methodology as the same as the IPR management
BYD implements in order to obtain the rapid growth of technology
development with the reasonable cost of money and time.
Abstract: One challenging direction of mobile commerce (mcommerce)
that is getting a great deal of attention globally is mobile
financing. The smart-phone and PDA users all around the world are
facing difficulties to become accustomed and trust in m-commerce.
The main rationale can be the slow variation and lack of trust in
mobile payment systems. Mobile payment systems that are in use
need to be more effective and efficient. This paper proposes: the
interface design is not the only factor affecting the m-commerce
adoption and lack of trust; in fact it is the combined effect of
interface usability and trustworthy mobile payment systems, because
it-s the money that the user has to spend at the end of the day, which
the user requires to get transferred securely. The purpose of this
research is to identify the problems regarding the trust and adaption
of m-commerce applications by mobile users and to provide the best
possible solution with respect to human computer interaction (HCI)
principles.
Abstract: Quality costs are the costs associated with preventing,
finding, and correcting defective work. Since the main language of
corporate management is money, quality-related costs act as means of
communication between the staff of quality engineering departments
and the company managers. The objective of quality engineering is to
minimize the total quality cost across the life of product. Quality
costs provide a benchmark against which improvement can be
measured over time. It provides a rupee-based report on quality
improvement efforts. It is an effective tool to identify, prioritize and
select quality improvement projects. After reviewing through the
literature it was noticed that a simplified methodology for data
collection of quality cost in a manufacturing industry was required.
The quantified standard methodology is proposed for collecting data
of various elements of quality cost categories for manufacturing
industry. Also in the light of research carried out so far, it is felt
necessary to standardise cost elements in each of the prevention,
appraisal, internal failure and external failure costs. . Here an attempt
is made to standardise the various cost elements applicable to
manufacturing industry and data is collected by using the proposed
quantified methodology. This paper discusses the case study carried
in luggage manufacturing industry.
Abstract: The quantum mechanics simulation was applied for
calculating the interaction force between 2 molecules based on atomic level. For the simple extractive distillation system, it is ternary
components consisting of 2 closed boiling point components (A,lower boiling point and B, higher boiling point) and solvent (S). The
quantum mechanics simulation was used to calculate the intermolecular force (interaction force) between the closed boiling
point components and solvents consisting of intermolecular between
A-S and B-S.
The requirement of the promising solvent for extractive distillation
is that solvent (S) has to form stronger intermolecular force with only
one component than the other component (A or B). In this study, the
systems of aromatic-aromatic, aromatic-cycloparaffin, and paraffindiolefin
systems were selected as the demonstration for solvent
selection. This study defined new term using for screening the solvents called relative interaction force which is calculated from the
quantum mechanics simulation. The results showed that relative
interaction force gave the good agreement with the literature data
(relative volatilities from the experiment). The reasons are discussed. Finally, this study suggests that quantum mechanics results can improve the relative volatility estimation for screening the solvents leading to reduce time and money consuming
Abstract: Abai Kunanbayev is famous for being enlightener,
composer, interpreter, social agent, philosopher, reformer, who
wanted to enrich Kazakh literature by emergence with Russian and
European culture, and also as a founder of Kazakh written literary
language. Abai Kunanbayev was born in 1845 in East Kazakhstan
area and passed away in 1904 in his hometown. His oeuvre absorbed
and reflected all changes in the life of Kazakh society of the second
half of XIX century. Because ХІХ century, especially its second half,
was an important transition period for Kazakhstan, which radically
changed traditional way of Kazakh society and predetermined further
development in consequence of activation of Russian colonial policy
and approval of commodity-money relations in Steppe Land.Abai
Kunanbayev, besides Arabic and Persian common words and
loanwords from Quran in his words of edification, had used a lot of
words of Arabic, Persian, Latin, Russian, Nogai, Shaghatai, Polish,
Greek, Turkish, which are used in the Kazakh language.
Abstract: Chronic hepatitis B can evolve to cirrhosis and liver
cancer. Interferon is the only effective treatment, for carefully selected
patients, but it is very expensive. Some of the selection criteria are
based on liver biopsy, an invasive, costly and painful medical procedure.
Therefore, developing efficient non-invasive selection systems,
could be in the patients benefit and also save money. We investigated
the possibility to create intelligent systems to assist the Interferon
therapeutical decision, mainly by predicting with acceptable accuracy
the results of the biopsy. We used a knowledge discovery in integrated
medical data - imaging, clinical, and laboratory data. The resulted
intelligent systems, tested on 500 patients with chronic hepatitis
B, based on C5.0 decision trees and boosting, predict with 100%
accuracy the results of the liver biopsy. Also, by integrating the other
patients selection criteria, they offer a non-invasive support for the
correct Interferon therapeutic decision. To our best knowledge, these
decision systems outperformed all similar systems published in the
literature, and offer a realistic opportunity to replace liver biopsy in
this medical context.