Abstract: Comparisons of financial development across
countries are central to answering many of the questions on factors
leading to economic development. For this reason this study analyzes
the implications of financial system’s development on country’s
economic development. The aim of the article: to analyze the impact
of financial system’s development on economic development. The
following research methods were used: systemic, logical and
comparative analysis of scientific literature, analysis of statistical
data, time series model (Autoregressive Distributed Lag (ARDL)
Model). The empirical results suggest about positive short and long
term effect of stock market development on GDP per capita.
Abstract: Arising problems of countries’ public finances, social
and demographic changes motivate scientific and policy debates on
public spending size, structure and efficiency in order to meet the
changing needs of society and business. The concept of sustainable
development poses new challenges for scientists and policy-makers
in the field of public finance. This paper focuses on the investigation
of the relationship between government expenditure and country’s
economic development in the context of sustainable development.
Empirical analysis focuses on the data of the European Union (except
Croatia and Luxemburg) countries. The study covers 2003 – 2012
years, using annual cross-sectional data. Summarizing the research
results, it can be stated that governments should pay more attention to
the needs that ensure sustainable development in the long-run when
formulating public expenditure policy, particularly in the field of
environment protection.
Abstract: Nations are still finding it quite difficult to win mega
sport competitions despite the major contribution of sport to society
in terms of social and economic development, personal health, and in
education. Even though the world of sports has been transformed into
a huge global economy, it is important to note that the first step of
sport is usually its introduction to children at school through physical
education or PE. In other words, nations who do not win mega sport
competitions also suffer from a weak and neglected PE system. This
problem of the neglect of PE systems is the main motivation of this
research aimed at examining the factors affecting the perceived
awareness of physical education teachers on the ICTs that are
adoptable for the teaching and learning of physical education. Two
types of research objectives will materialize this aim: relevant
theories will be identified in relation to the analysis of the perceived
ICT awareness of PE teachers and subsequent models will be
compiled and designed from existing literature; the empirical testing
of such theories and models will also be achieved through the survey
of PE teachers from the Camperdown magisterial district of the
KwaZulu-Natal province of South Africa. The main hypothesis at the
heart of this study is the relationship between the demographics of PE
teachers, their behavior both as individuals and as social entities, and
their perceived awareness of the ICTs that are adoptable for PE, as
postulated by existing literature; except that this study categorizes
human behavior under performance expectancy, computer attitude,
and social influence. This hypothesis was partially confirmed by the
survey conducted by this research in the sense that performance
expectancy and teachers’ age, gender, computer usage, and class size
were found to be the only factors affecting their awareness of ICTs
for physical education.
Abstract: The current study explored the effect of economic
development, financial development and institutional quality on
environmental destruction in upper-middle income countries during
the time period of 1999-2011. The dependent variable is logarithm of
carbon dioxide emissions that can be considered as an index for
destruction or quality of the environment given to its effects on the
environment. Financial development and institutional development
variables as well as some control variables were considered. In order
to study cross-sectional correlation among the countries under study,
Pesaran and Friz test was used. Since the results of both tests show
cross-sectional correlation in the countries under study, seemingly
unrelated regression method was utilized for model estimation. The
results disclosed that Kuznets’ environmental curve hypothesis is
confirmed in upper-middle income countries and also, financial
development and institutional quality have a significant effect on
environmental quality. The results of this study can be considered by
policy makers in countries with different income groups to have
access to a growth accompanied by improved environmental quality.
Abstract: Business interpreting talents are in badly need for local
economic development, but currently there are problems of traditional
business interpreting training mode in China. In view of the good
opportunity for college business interpreters provided by international
trading center development in Qingdao China and with the aim of
being in line with market demand and enhancing business interpreters'
employment competitive advantage, this paper aims to explore how to
cultivate interdisciplinary business interpreting talents based on
market demand.
Abstract: With growth of PV market in tropical region, it is necessary to investigate the performance of different types of PV technology under the tropical weather conditions. Singapore Polytechnic was funded by Economic Development Board (EDB) to set up a solar PV test-bed for the research on performance of different types of PV modules in the country. The PV test-bed installed the nine different types of PV systems that are integrated to power utility grid for monitoring and analyzing their operating performances. This paper presents the 12 months operational data of nine different PV systems and analyses on performances of installed PV systems using energy yield and performance ratio. The nine types of PV systems under test have shown their energy yields ranging from 2.67 to 3.36 kWh/kWp and their performance ratios (PRs) ranging from 70% to 88%.
Abstract: Since women obtained the right to vote in 1893 for the first time in New Zealand, they have tried to participate actively into politics but still the world has a few women in political leadership. The article asks which factors might influence the appearance of women leadership in politics. The article investigates two factors such as political context, personal factors. Countries where economic development is stable and political democracy is consolidated have a tendency of appearance of women political leadership but in less developed and politically unstable countries, women politicians can be in power with their own reasons. For the personal factor, their feminist propensity is studied but there is no relationship between the appearance of women leaders and their feminist propensity.
Abstract: Many problems are occurred in watershed due to human activity and economic development. The purpose is to determine the effects of the land use change on surface runoff using land use map on 1980, 2001 and 2008 and daily weather data during January 1, 1979 to September 30, 2010 applied to SWAT. The results can be presented that the polynomial equation is suitable to display that relationship. These equations for land use in 1980, 2001 and 2008 are consisted of y = -0.0076x5 + 0.1914x4–1.6386x3 + 6.6324x2–8.736x + 7.8023(R2 = 0.9255), y = -0.0298x5 + 0.8794x4 - 9.8056x3 + 51.99x2 - 117.04x + 96.797; (R2 = 0.9186) and y = -0.0277x5 + 0.8132x4 - 8.9598x3 + 46.498x2–101.83x +81.108 (R2 = 0.9006), respectively. Moreover, if the agricultural area is the largest area, it is a sensitive parameter to concern surface runoff.
Abstract: Economic development and globalization of international markets have created a favourable atmosphere for the emergence of new forms of crime such as money laundering or financing of terrorism, which may contribute to destabilized and damage economic systems. In particular, money laundering have acquired great importance since the 11S attacks, what has caused on the one hand, the establishment and development of preventive measures and, on the other hand, a progressive hardening of penal measures. Since then, the regulations imposed to fight against money laundering have been viewed as key components also in the fight against terrorist financing. Terrorism, at the beginning, was a “national” crime connected with internal problems of the State (for instance the RAF in Germany or ETA in Spain) but in the last 20 years has started to be an international problem that is connected with the defence and security of the States. Therefore, the new strategic concept for the defense and security of NATO has a comprehensive list of security threats to the Alliance, such as terrorism, international instability, money laundering or attacks on cyberspace, among others. With this new concept, money laundering and terrorism has become a priority in the national defense.
In this work we will analyze the methods to combat these new threats to the national security. We will study the preventive legislations to combat money laundering and financing of terrorism, the UIF that exchange information between States, and the hawala-Banking.
Abstract: ICT services are a key element of communications and important for socio-economic development. In recognition of the importance of this, the Tanzanian Government started to implement a National ICT Broadband Infrastructure Fibre Optic Backbone (NICTBB) in 2009; this development was planned to be implemented in four phases using an optical dense wavelength division multiplexing (DWDM) network technology in collaboration with the Chinese Government through the Chinese International Telecommunications Construction Corporation (CITCC) under a bilateral agreement. This paper briefly explores the NICTBB network technologies implementation, operations and Internet bandwidth costs. It also provides an in depth assessment of the delivery of ICT services such as e-services and m-services in both urban and rural areas following commissioning of the NICTBB system. Following quantitative and qualitative approaches, the study shows that there have been significant improvements in utilization efficiency, effectiveness and the reliability of the ICT service such as e-services and m-services the NICTCBB was commissioned.
Abstract: The article focuses on the role of FDI in Georgia’s economic development for the last decade. To attract as much FDI as possible a proper investment climate should be on the place - institutional, policy and regulatory environment. Well developed investment climate is the chance and motivation for both, local economy and foreign companies, to generate maximum income, create new work places and improve the quality of life. FDI trend is one of the best indicators of country’s economic sustainability and its attractiveness. Especially for small and developing countries, the amount of FDI matters, therefore most of such countries are trying to compete with each other through improving their investment climate according to different world famous indexes. As a result of impressive reforms since 2003, Georgian economy was benefited with large invasion of FDI, however the level of per capita GDP is still law in comparison to Eastern European countries and it should be improved. The main idea of the paper is to show a real linkage between FDI and employment ration, on the case of Georgian economy.
Abstract: Kumasi is Ghana’s second largest and fastest growing city with an annual population growth rate of 5.4 percent. A major result of this phenomenon is a growing sprawl at the fringes of the city. This paper assesses the nature, extent and impact of sprawl on Kumasi and examines urban planning efforts at addressing this phenomenon. Both secondary and empirical data were collected from decentralized government departments of the Kumasi Metropolitan Assembly and residents of some sprawling communities. The study reveals that sprawl in the metropolis is rapidly consuming fringe rural communities. This situation has weakened effective management of the metropolis causing problems such as congestion and conversion of peri-urban land into residential use without ancillary infrastructure and social services. The paper recommends effective and timely planning and provision of services as well as an overall economic development and spatial integration through regional planning as a way of achieving a long term solution to sprawl.
Abstract: Utmost care of human related issues are essentially required for sustainable growth of micro, small and medium enterprises (MSMEs) of India, as these MSMEs are contributing enormously to socio-economic development of country. In this research, aspects related to human factors and functioning of MSMEs of India were studied. The investigation, based on a survey of 84 MSMEs of India cited that the enterprises are mostly employing unskilled labor whose wages are less with poor training. In spite of reported minor accidents, attention towards safety is poorly paid. To meet-out the production target, MSMEs generally employ over-time and payment towards this overtime is sometimes missing. Hence, honest and humanitarian attention for better human resources is needed to improve the performance and competitiveness of MSMEs of India.
Abstract: Today is widely understood that global energy consumption patterns are directly related to the urban expansion and development process. This expansion is based on the natural growth of human activities and has left most urban areas totally dependent on fossil fuel derived external energy inputs. This status-quo of production, transportation, storage and consumption of energy has become inefficient and is set to become even more so when the continuous increases in energy demand are factored in. The territorial management of land use and related activities is a central component in the search for more efficient models of energy use, models that can meet current and future regional, national and European goals.
In this paper a methodology is developed and discussed with the aim of improving energy efficiency at the municipal level. The development of this methodology is based on the monitoring of energy consumption and its use patterns resulting from the natural dynamism of human activities in the territory and can be utilized to assess sustainability at the local scale. A set of parameters and indicators are defined with the objective of constructing a systemic model based on the optimization, adaptation and innovation of the current energy framework and the associated energy consumption patterns. The use of the model will enable local governments to strike the necessary balance between human activities and economic development and the local and global environment while safeguarding fairness in the energy sector.
Abstract: The United Nations has defined the inclusive community as “…promoting growth with equity, a place where everyone, regardless of their economic means, gender, race, ethnicity or religion, is enabled and empowered to fully participate in the social, economic and political opportunities that cities have to offer”. In this paper, the concept of walkability is viewed as an important tool towards the planning and future development of more inclusive communities. Walking is the cheapest and cleanest mode of travel available to all providing large benefits to both health and local economic development. To demonstrate the validity of this strategy a set of parameters, selected from existing research, were measure, compared and discussed in the existing and proposed scenarios of a Portuguese small town using GIS software.
Abstract: It is the aim of this paper to place the role of innovation in economic development in its theoretical context through a literature review. The review compares classical economic theory and the neoclassical theories of “equilibrium in the markets” and “perfectly competitive markets” with the Schumpeterian theory. It was found that Schumpeter’s role in contributing towards economic development theories, and by creating awareness of the role of innovation in these theories is of immeasurable importance. His contribution led to a change in economic thinking, although this was only realized much later than when his theories were first published. The neo-Schumpeterian thinking expanded on the Schumpeterian theory by studying innovation within a system of interaction among different role players. Studies on innovation should be founded in the neo-Schumpeterian school of thought in order to accommodate the complexity of the innovation system concept.
Abstract: Free access for Georgian goods to the EU markets is one of the important factors for Georgia’s economic development, attraction of investments and raising the standard of living. The European Union is the most important trade partner for Georgia. Great experience has been accumulated with respect to removing trade barriers between Georgia and the European Union. Despite it, certain problems still persist.
In the present article, we have reviewed the systems of preferences with the European Union, the EU’s Generalized System of Preferences (GSP) and the essence of ongoing reform; we have assessed weak and strong sides of relations established between the European Union and Georgia in this regard; analyzed Georgia’s export and import over the past years; also reviewed the prospect of a unified database; established existing and anticipated positive and negative factors. Based on the analysis, we have provided the relevant recommendations.
Abstract: Post-disaster reconstruction projects offer
opportunities to facilitate physical, social and economic development
and to reduce future hazard vulnerability long after the disasters.
Sustainability of post-disaster reconstruction project conducted in the
villages of Dinar following the 1995 earthquake was investigated in
this paper. Officials of the Government who were involved in the
project were interviewed. Besides, two field surveys were done in 12
villages of Dinar in winter months of 2008. Beneficiaries were
interviewed and physical, socio-cultural and economic impacts of the
reconstruction were examined. The research revealed that the postdisaster
reconstruction project has negative aspects from the point
view of sustainability. The physical, socio-cultural and economic
factors were not considered during decision making process of the
project.
Abstract: Entrepreneurs are important for national labour markets and economies in that they contribute significantly to economic growth as well as provide the majority of jobs and create new ones. According to the Global Entrepreneurship Monitor’s “Report on Women and Entrepreneurship”, investment in women’s entrepreneurship is an important way to exponentially increase the impact of new venture creation finding ways to empower women’s participation and success in entrepreneurship are critical for more sustainable and successful economic development. Our results confirm that they are still differences between men and women entrepreneurs The reasons seems to be the lack of specific business skills, the less extensive social network, and the lack of identification patterns among women. Those differences can be explained by the fact that women still have fewer opportunities to make a career. If this is correct, we can predict an increasing proportion of women among entrepreneurs in the next years. Concerning the development of a favorable environment for developing and enhancing women entrepreneurship activities, our results show the insertion in a network and the role of a model doubtless represent elements determining in the choice to launch an entrepreneurship activity, as well as a precious resource for the success of her company.
Abstract: A feasibility study for the design and construction of a
pilot plant for the extraction of castor oil in South Africa was
conducted. The study emphasized the four critical aspects of project
feasibility analysis, namely technical, financial, market and
managerial aspects. The technical aspect involved research on
existing oil extraction technologies, namely: mechanical pressing and
solvent extraction, as well as assessment of the proposed production
site for both short and long term viability of the project. The site is
on the outskirts of Nkomazi village in the Mpumalanga province,
where connections for water and electricity are currently underway,
potential raw material supply proves to be reliable since the province
is known for its commercial farming. The managerial aspect was
evaluated based on the fact that the current producer of castor oil will
be fully involved in the project while receiving training and technical
assistance from Sasol Technology, the TSC and SEDA. Market and
financial aspects were evaluated and the project was considered
financially viable with a Net Present Value (NPV) of R2 731 687 and
an Internal Rate of Return (IRR) of 18% at an annual interest rate of
10.5%. The payback time is 6years for analysis over the first 10
years with a net income of R1 971 000 in the first year. The project
was thus found to be feasible with high chance of success while
contributing to socio-economic development. It was recommended
for lab tests to be conducted to establish process kinetics that would
be used in the initial design of the plant.