Abstract: After the Rose Revolution of 2003, Georgia has achieved an unparalleled socioeconomic success. However, economic growth since 2012 has been sluggish and certainly not enough to rapidly improve the county’s standard of living that still remains substantially low compared to that in developed nations. Recent poor economic performance has shown that some key challenges need to be addressed if Georgia is to achieve high future economic growth that will decrease the poverty rate and create a middle class in the country. This paper offers in detail analysis of the economic performance of Georgia since 2012 and identifies key challenges facing the country’s economy. The main challenge going forward will be transforming Georgia from a consumption-driven to a production-oriented economy. It is identified that mobilizing domestic investment through savings, attracting foreign investment in tradable sectors and expanding the country’s export base will be crucial in the facilitation of the above-mentioned structural transformation. As the outcome of the research, the paper suggests a strategy for accelerating Georgia’ future economic growth and offers recommendations based on the relevant conclusions.
Abstract: Many cities in China have been experiencing serious urban sprawl since the 1980s, which pose great challenges to a country with scare cultivated land and huge population. Because of different social and economic context and development stage, driving forces of urban sprawl in China are quite different from developed countries. Therefore, it is of great importance to probe into urban sprawl driving mechanism in Chinese context. By a comparison study of the background and features of urban sprawl between China and developed countries, this research establishes an analytical framework for sprawl dynamic mechanism in China. By literature review and analyzing data from national statistical yearbook, it then probes into the driving mechanism and the primary cause of urban sprawl. The results suggest that population increase, economic growth, traffic and information technology development lead to rapid expansion of urban space; defects of land institution and lack of effective guidance give rise to low efficiency of urban land use. Moreover, urban sprawl is ultimately attributed to imperfections of policy and institution. On this basis, this research puts forward several sprawl control strategies in Chinese context.
Abstract: Alexandria city is one of the greatest cities in the world. It confronted different civilizations throughout the ages due to its special geographical location and climate which left many archaeological areas of great heritage (Ptolemaic, Greek, Romanian, especially sunken monuments, Coptic, Islamic, and finally, the Modern). Also, Alexandria city contains areas with different patterns of urban planning, both Hellenistic and compacted planning which merited the diversity in planning. Despite the magnitude of this city, which contains all the elements of tourism, the city was not included in the tourism map of Egypt properly comparing with similar cities in Egypt. This paper discusses the importance of heritage areas in Alexandria and the relationship between heritage areas and modern buildings. It highlights the absence of a methodology to deal with heritage areas as touristic areas. Also, the paper aims to develop multiple touristic routes to visit archaeological areas and other sights of significance in Alexandria. The research methodology is divided into two main frameworks. The first framework is a historical study of the urban development of Alexandria and the most important remaining monuments throughout the ages, as well as an analytical study of sunken monuments and their importance in increasing the rate of tourism. Moreover, it covers a study of the importance of the Library of Alexandria and its effect on the international focus of the city. The second framework focuses on the proposal of some tourism routes to visit the heritage areas, archaeological monuments, sunken monuments and the sights of Alexandria. The study concludes with the proposal of three tourism routes. The first route, which is the longest one, passes by all the famous monuments of the city as well as its modern sights. The second route passes through the heritage areas, sunken monuments, and Library of Alexandria. The third route includes the sunken monuments and Library of Alexandria. These three tourism routes will ensures the touristic development of the city which leads to the economic growth of the city and the country.
Abstract: The importance of local food products and their promotion are drivers for economic growth. Entrepreneurship is one of the most important tools for development, which puts its most important effect on the way of increasing business in society. The purpose of this paper is to assess the breadth of food strategies in Italy toward to promoting local Italian foods in order to present useful food policies for developing countries. The methodology of this paper is based on qualitative analysis. In order to achieve such objectives, a literature review is carried out by employing documenting study. In this research, at first, we seek to present compliance’s concepts and definitions. Then, after examining the dimensions of the three strategies, we access to the indicators and compare their effects in order to present some useful policies and guidelines for developing countries. Despite of the limitations like inaccessibility, performance of companies in exporting local foods and lacking perception of awareness and experience of people, the study offers possible ways for future, as an example for Middle East countries to promote Italian local foods. The finding of this paper evaluates the three strategies in order to promote local food entrepreneurship in Italy and developing countries.
Abstract: An attempt was made to fill the gap in the macro analysis of corruption by suggesting a conceptual framework that differentiates four types of macro corruption: state capture, political, bureaucratic and financial/corporate. The economic consequences or forward linkages (growth, inclusiveness and sustainability of development) and macro institutional determinants constituting the backward linkages of each type were delineated. The research implications of the macro perspective and proposed framework were discussed. Implications of the findings for theory, research and reform policies addressing macro corruption issues were discussed.
Abstract: Science offers opportunities for revolutionizing human activities, enriched by input from scientific research and technology. Biotechnology is a major force for development in developing countries such as Nigeria. It is found to contribute to solving human problems like water and food insecurity that impede national development and threaten peace wherever it is applied. This review identified the problems of agricultural biotechnology in Nigeria. On the part of rural farmers, there is a lack of adequate knowledge or awareness of biotechnology despite the fact that they constitute the bulk of Nigerian farmers. On part of the government, the problems include: lack of adequate implementation of government policy on bio-safety and genetically modified products, inadequate funding of education as well as research and development of products related to biotechnology. Other problems include: inadequate infrastructures (including laboratory), poor funding and lack of national strategies needed for development and running of agricultural biotechnology. In spite of all the challenges associated with agricultural biotechnology, its prospects still remain great if Nigeria is to meet with the food needs of the country’s ever increasing population. The introduction of genetically engineered products will lead to the high productivity needed for commercialization and food security. Insect, virus and other related diseases resistant crops and livestock are another viable area of contribution of biotechnology to agricultural production. In conclusion, agricultural biotechnology will not only ensure food security, but, in addition, will ensure that the local farmers utilize appropriate technology needed for large production, leading to the prosperity of the farmers and national economic growth, provided government plays its role of adequate funding and good policy implementation.
Abstract: This study examined cointegration and causal relationships between economic growth and regular domestic and international passenger air transport in Brazil. Total passengers embarked and disembarked were used as a proxy for air transport activity and gross domestic product (GDP) as a proxy for economic development. The test spanned the period from 2000 to 2015 for domestic passenger traffic and from 1995 to 2015 for international traffic. The results confirm the hypothesis that there is cointegration between passenger traffic series and economic development, showing a bi-directional Granger causal relationship between domestic traffic and economic development and unidirectional influence by economic growth on international passenger air transport demand. Variance decomposition of the series showed that domestic air transport was far more important than international transport to promoting economic development in Brazil.
Abstract: Sustainable economic growth is nowadays driving firms to extend toward the adoption of many green supply chain management (GSCM) solutions. However, the evaluation and selection of these solutions is a matter of concern that needs very serious decisions, involving complexity owing to the presence of various associated factors. To resolve this problem, a comparative analysis approach based on multi-criteria decision-making methods is proposed for adequate evaluation of sustainable supply chain management solutions. In the present paper, we propose an integrated decision-making model based on FAHP (Fuzzy Analytic Hierarchy Process), TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) and PROMETHEE (Preference Ranking Organisation METHod for Enrichment Evaluations) to contribute to a better understanding and development of new sustainable strategies for industrial organizations. Due to the varied importance of the selected criteria, FAHP is used to identify the evaluation criteria and assign the importance weights for each criterion, while TOPSIS and PROMETHEE methods employ these weighted criteria as inputs to evaluate and rank the alternatives. The main objective is to provide a comparative analysis based on TOPSIS and PROMETHEE processes to help make sound and reasoned decisions related to the selection problem of GSCM solution.
Abstract: In recent years, the social economy is increasingly seen as a viable means to address social problems. Social enterprises, as well as public projects and initiatives targeted to meet social purposes, offer organizational models that assume heterogeneity, flexibility and adaptability to the ‘real world and real problems’. Despite the growing popularity of social initiatives, decision makers still face a paucity in what concerns the available models and tools to adequately assess its sustainability, and its impacts, notably the nature of its contribution to economic growth. This study was carried out at the local level, by analyzing the social impact initiatives and projects promoted by the Municipality of Albergaria-a-Velha (Câmara Municipal de Albergaria-a-Velha -CMA), a municipality of 25,000 inhabitants in the central region of Portugal. This work focuses on the challenges related to the qualifications and employability of citizens, which stands out as one of the key concerns in the Portuguese economy, particularly expressive in the context of small-scale cities and inland territories. The study offers a characterization of the Municipality, its socio-economic structure and challenges, followed by an exploratory analysis of multiple sourced data, collected from the CMA's documental sources as well as from privileged informants. The purpose is to conduct detailed analysis of the CMA's social projects, aimed at characterizing its potential impact for the model of qualifications and employability of the citizens of the Municipality. The study encompasses a discussion of the socio-economic profile of the municipality, notably its asymmetries, the analysis of the social projects and initiatives, as well as of data derived from inquiry actors involved in the implementation of the social projects and its beneficiaries. Finally, the results obtained with the Better Life Index will be included. This study makes it possible to ascertain if what is implicit in the literature goes to the encounter of what one experiences in reality.
Abstract: The exchange rate is a pivotal pricing instrument that simultaneously impacts various components of the economy. Depreciation of nominal exchange rate is export promoting, which might be a desired export-led growth policy, and particularly critical to closing-down the widening current account imbalance. However, negative effects resulting from high dollarization and high share of imported intermediate inputs can outweigh positive effect. The aim of this research is to quantify impact of change in nominal exchange rate and test contractionary depreciation hypothesis on Georgian economy using structural and Bayesian vector autoregression. According to the acquired results, appreciation of nominal exchange rate is expected to decrease inflation, monetary policy rate, interest rate on domestic currency loans and economic growth in the medium run; however, impact on economic growth in the short run is statistically not significant.
Abstract: The economic growth of any nation is steered and dependent on innovation in technology. It can be preferably argued that technology has enhanced the quality of life. Technology is linked both with an economic and a social structure. But there are some parts of the world or communities which are yet to reap the benefits of technological innovation. Business and organizations are now well equipped with cutting-edge innovations that improve the firm performance and provide them with a competitive edge, but rarely does it have a positive impact on any community which is weak and marginalized. In recent times, it is observed that communities are actively handling social or ecological issues with the help of indigenous technologies. Thus, "Appropriate Technology" comes into the discussion, which is quite prevalent in the rural third world. Appropriate technology grew as a movement in the mid-1970s during the energy crisis, but it lost its stance in the following years when people started it to describe it as an inferior technology or dead technology. Basically, there is no such technology which is inferior or sophisticated for a particular region. The relevance of appropriate technology lies in penetrating technology into a larger and weaker section of community where the “Bottom of the pyramid” can pay for technology if they find the price is affordable. This is a theoretical paper which primarily revolves around how appropriate technology has faded and again evolved in both developed and developing countries. The paper will try to focus on the various concepts, history and challenges faced by the appropriate technology over the years. Appropriate technology follows a documented approach but lags in overall design and diffusion. Diffusion of technology into the poorer sections of community remains unanswered until the present time. Appropriate technology is multi-disciplinary in nature; therefore, this openness allows having a varied working model for different problems. Appropriate technology is a friendly technology that seeks to improve the lives of people in a constraint environment by providing an affordable and sustainable solution. Appropriate technology needs to be defined in the era of modern technological advancement for sustainability.
Abstract: It is widely recognised that the assets portfolio development is helping to enhance economic growth, productivity and competitiveness. While numerous studies and reports certify the positive effect of investments in large infrastructure investments on the local economy, still, the methodology to estimate the contribution in economic development is a challenging issue for researchers and economists. The key question is how to estimate those economic impacts in each economic system. This paper provides a compact and applicable methodological framework providing quantitative results in terms of the overall jobs and income generated into the project life cycle. According to a deterministic mathematical approach, the key variables and the modelling framework are presented. The numerical case study highlights key results for a new motorway project in Greece, which is experienced economic stress for many years, providing the opportunity for comparisons with similar cases.
Abstract: Patent data have an increasingly important role in economic growth, innovation, technical advantages and business strategies and even in countries competitions. Analyzing of patent data is crucial since patents cover large part of all technological information of the world. In this paper, we have used the linguistic summarization technique to prove the validity of the hypotheses related to patent data stated in the literature.
Abstract: Global Competitiveness Index (GCI) prepared by World Economic Forum has become a benchmark in studying the competitiveness of countries and for understanding the factors that enable competitiveness. Innovation is a key pillar in competitiveness and has the unique property of enabling exponential economic growth. This paper attempts to analyze how the pillars comprising the Global Competitiveness Index affect innovation and whether GDP growth can directly affect innovation outcomes for a country. The key objective of the study is to identify areas on which governments of developing countries can focus policies and programs to improve their country’s innovativeness. We have compiled a panel data set for top innovating countries and large emerging economies called BRICS from 2007-08 to 2014-15 in order to find the significant factors that affect innovation. The results of the regression analysis suggest that government should make policies to improve labor market efficiency, establish sophisticated business networks, provide basic health and primary education to its people and strengthen the quality of higher education and training services in the economy. The achievements of smaller economies on innovation suggest that concerted efforts by governments can counter any size related disadvantage, and in fact can provide greater flexibility and speed in encouraging innovation.
Abstract: Within the last 30 years, entrepreneurship education (EE) has continued to gain massive interest both in the field of research and among policy makers. This surge in interest can be attributed to the perceived importance EE plays in the equipping of potential entrepreneurs and as a 21st century strategy to foster economic growth and development. This paper sets out to ascertain the correlation between EE and economic growth and development. A desk research approach was adopted where a multiplicity of literatures in the field were studied intensely. The findings reveal that indeed EE has a positive effect on entrepreneurship engagement thereby fostering economic growth and development. However, some research studies reported the contrary. That although EE may be able to equip potential entrepreneurs with requisite entrepreneurial skills and competencies, it will only be successful in producing entrepreneurs if they are internally driven to become entrepreneurs, because we cannot make people what they are not. The findings also reveal that countries that adopted EE early have more innovations inspired by entrepreneurs and are more developed than those that only recently adopted EE as a viable tool for entrepreneurship and economic development.
Abstract: The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.
Abstract: Transformation under the reconfiguration of urban-rural relation in Liuzhou city has never been as radical and visible as it has been since the tremendous turn of the last century in China. Huanjiang village is located in Linhuashan Scenic Area in the middle east of Liuzhou city, with spectacular landscape and traditional features. Nowadays Huanjiang village has become a so-called "village in city", which is considered full of great potential for development because of the economic value of regional advantages during the urban sprawl. Communities of village found it difficult to acclimatize with the dramatic changes, which later led to numerous problems including ecological damage, unemployment of landless farmers and loss of traditional culture. Government has started up a series of renewal planings to resolve the problems, which are based on advanced technology and conform to sustainable and integrated strategies of city planning considering the original context and historical culture, superseding the traditional arrangements based on the guide of extensive economic growth. This paper aims to elaborate the context of Liuzhou city and Huanjiang village offered to both the traditional and sustainable planning approaches, in order to understand challenges and solutions of the rebuilding process. Through the analysis of the place relevant to architecture, society and culture, it will establish the corresponding systematic strategies. Considering the local features, it concludes with a comprehensive perspective on organic renewal in the case of Huanjiang village.
Abstract: The concepts of entrepreneurship education together with graduate entrepreneurship have taken centre stage in many countries as a 21st century strategy for economic growth and development. Entrepreneurship education has been viewed as a pre-requisite tool for a more effective and successful business operation. This paper seeks to verify if entrepreneurship education is pre-requisite to graduate entrepreneurship, and to ascertain if such other factors as the need for achievement, competence and experience etc. also play a foundational role in the choice of a graduate becoming an entrepreneur. The scope of the research study is entrepreneurs within Yenagoa metropolis in Bayelsa state, Nigeria. The sample target is graduates engaged in entrepreneurship activities (graduates who own and run businesses). Stratified sampling technique was used and 101 responses were obtained from a total of 300 questionnaires issued. Bar chart, tables and percentages were used to analyze the collected data. The findings revealed that personality traits, situational circumstance, need for achievement and experience/competence were the foundational factors stimulating graduate entrepreneurs to engage in entrepreneurial pursuits. Of all, personality trait showed the highest score with 73 (73%) out of 101 entrepreneurs agreeing. Experience/Competence and situational circumstances followed behind with 66 (65%) and 63 (62.4%), respectively. Entrepreneurship education revealed the least score with 33 (32.3%) out of 101 participating entrepreneurs. All hope, however, is not lost, as this shows that something can be done to increase the impact of entrepreneurship education on graduate entrepreneurship.
Abstract: Because of its flexibility, CES attracts much interest in economic growth and programming models, and the macroeconomics or micro-macro models. This paper focuses on the development, estimating methods of CES production function considering energy as an input. We leave for future research work of relaxing the assumption of constant returns to scale, the introduction of potential input factors, and the generalization method of the optimal nested form of multi-factor production functions.
Abstract: Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.