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The Fishbone diagram to identify, systematize and analyze the sources of general purpose technologies
Get PDFAbstract. This study suggests the fishbone diagram for technological analysis. Fishbone diagram (also called Ishikawa diagrams or cause-and-effect diagrams) is a graphical technique to show the several causes of a specific event or phenomenon. In particular, a fishbone diagram (the shape is similar to a fish skeleton) is a common tool used for a cause and effect analysis to identify a complex interplay of causes for a specific problem or event. The fishbone diagram can be a comprehensive theoretical framework to represent and analyze the sources of innovation. Fishbone diagram is applied here as a novel graphical representation to identify, explore and analyse whenever possible, the potential root causes of the source and evolution of General Purpose Technologies (GPTs). Overall, then, fishbone diagram seems to be an appropriate and general technique of graphical representation to explore and categorize, clearly and simply, the potential root causes of the evolution of technological innovations for an appropriate management of technology.Keywords. Fishbone diagram, General purpose technology, Source of technical change, Management of technology, Technology evolution, Evolution of technology.JEL. B40, O31, O33
A report of Mongolia’s renewal capital
Get PDFAbstract. In a dynamically changing world, a major part of a nation’s competitiveness comes from its capacity of renewing itself to fit the global environment. Those resources that constitute the foundation of such capacity is called renewal capital of a nation. Multiple indicators and measures of renewal capital of Mongolia were analyzed and reported here in this present paper. We found that: first, Mongolia needs more regular, large-scale data collection in regard to its national renewal capital, in order to know the directions of improvement and investment; second, while R&D spending and patent usage of businesses need to be stimulated more, scientific publication has potential to grow and contribute to renewal. These results shed lights on the policy making and business practices. Keywords. Renewal capital, National wealth, Intangible assets, Mongolia.JEL. M10, M11, M14
Socio-economic and Ecological Sustainability of Smallholder Agricultural Holdings in Bulgaria
Get PDFAbstract. The issue of adequate assessment of socio-economic and ecological sustainability of divers agricultural holdingsis among most topical academic and practical problems. It is particularly important for smallholder farms accounting for the majority of all farms in the globe. In Bulgaria unregistered farms of Natural Personsaccount for almost 98% of all farms in the country, cultivate a third of all farmlands, graze 85% of cows, 90% of sheep, and around a third of pigs, and employ almost 93% of workforce in the sectors. This article applies a holistic framework and assesses sustainability of farms of Natural Persons in Bulgaria during current stage of EU CAP implementation. Initially a new governance aspect of farm sustainability is justified and method outlined. After that assessment is made of integral, governance, economic, social, environmental sustainability of farms of Natural Persons of different size, specialization, and location, and comparative sustainability to other type of farms. Finally, directions for further research and amelioration of sustainability assessment practices are suggested. Overall sustainability of Natural Persons in the country is at a good level, with superior levels for environmental and social sustainability, close to the low level governance sustainability, and inferior economic sustainability. Comparative sustainability of holdings is lower than other juridical type. There are great variations in sustainability levels of farms of different kind and location. Share of Natural Persons with good and high sustainability is smaller than other categories of farms and majority of Natural Persons have no comparative advantages in terms of sustainability, and in a middle term will cease to exist.Keywords: Smallholders sustainability, Governance, Economic social environmental aspects, Bulgaria.JEL. Q10, Q56, R33
European Congress on Economic Issues-ECOEI 2017
Get PDFAbstract. The European Congress on Economic Issues: Unregistered “Youth” Employment: Impacts, Policies, Remedies and Local Practices- ECOEI 2017 was held from 30 March to 01 April 2017 in Izmit, Kocaeli, Turkey. This international congress was organized as part of the European Union Project-“Do not Remain Indifferent to Unregistered Youth Employment (Genç İstihdama Kayıt(dışı)sız Kalma). The project is being implemented jointly by many institutions such as European Union, The Ministry of Labor and Social Security of Turkish Republic and Kocaeli University. “Question of Unregistered Employment, Especially Narrowed Down to Unregistered Youth Employment” was the main theme of ECOEI 2017 and this congress was the first of the international congress series which will be planned to organize annually on a selected topic. Many paper topics such as unemployment, labor market, taxation, shadow economy, mode of production, refugee employment, internal and international migration, welfare economics, income inequality, legislation regulations and social security, labor migration and urbanization, sustainable development, poverty and human development, disadvantaged groups (women, handicapped people) and child employment were discussed from different economic perspectives with the participation of academics, specialists, practitioners etc. With this motivation more than 100 papers were presented during the congress with parallel sessions.Keywords. ECOEI 2017, Unregistered employment, Youth unemployment, Turkey.JEL. A10, E20, E24
Interpretations of Hyperbolic Growth
Get PDFAbstractHyperbolic growth describes the historical economic growth and historical growth of population, but their mechanism remains unexplained. Presented here is a brief survey of attempts to understand hyperbolic growth. Mathematical formulations are in general complicated and there is no clear advantage in using them because they do not give better description of data than the simple, two-parameter hyperbolic formula. They also do not explain the mechanism of growth. The well-known simple formula suggests a simple explanation. Two examples show how two independent investigations were on a brink of making an important and breakthrough discovery and how their potential discovery was thwarted by the established knowledge in demography and in economic research. Researchers who could have used their expertise to suggests new research directions and to advance science were constrained by doctrines, which are widely accepted by faith. Key words: Hyperbolic growth, Mechanism of growth, Population growth, Economic growth, Growth models, Growth theory, Malthusian stagnationJEL: A10, A12, C02, C12, C20, C50, Y80
Metropolitan Business Cycle Analysis for Lubbock
Get PDFAbstract. This study develops a business cycle index (BCI) for Lubbock Metropolitan Statistical Area (MSA). The Stock & Watson (1989; 1991; 1993) methodology is used to develop the BCI and assumes that the co-movements of key economic indicators have a single underlying, unobservable factor. This factor is extracted from the indicators and used to calculate an index that represents economic conditions through an econometric approach. The model uses the Kalman filter smoothing approach which smooths across variables and over time. This results in an index that is smoother with less pronounced expansions and recessions. Indicator series used for the study are: establishment employment, unemployment, real retail sales and real wages that begin in 1990 and include complete data through the end of 2015. Results indicate that the Lubbock business cycle has peaks and troughs that occur later than those for the national economy.Keywords. Regional Economics; Business Cycles; Economic Indicators.JEL. R15, E32
New directions in measurement of economic growth, development and under development
Get PDFAbstract. This paper presents a simple model to measure the relative economic growth of economic systems. The model considers S-Shaped patterns of economic growth that, represented with a linear model, measure how an economic system grows in comparison with another one. In particular, this model introduces an approach which indicates if the economic system has a process of economic growth, development or underdevelopment. The application of the model is provided for regions and macro regions of the Italian economic system.Keywords. Economic growth, Convergence, Economic development, Relative growth, S-shaped pattern.JEL. C02, F43, O40, O47
V. International Anadolu Conference in Economics (Econanadolu 2017)
Get PDFAbstract. V. International Anatolian Conference in Economics (Econanadolu 2017) organized by the Department of Economics, Faculty of Economics and Administrative Sciences of Eskişehir Anadolu University between 11-13 May 2017. The main aim of this congress was bring to academicians from all over the world together to discuss new outcomes within theoretical and applied economics research, exchange ideas and create a research network for future joint collaborations. Econanadolu 2017 included many economic fields such as microeconomics, macroeconomics, international trade, health economics, political economy, industrialization, sustainable development. There were many national and international important academicians and researchers in the both scientific committee and the regulatory committee of the conference. This congress had been an important source of experience for young researchers and academicians. This congress had been a successful congress both scientific and cultural.Keywords. Econanadolu 2017, Macroeconomics, Sustainable development.JEL. A10, B22, Q01
An Econometric Analysis of Demand for Money and its Stability in Tanzania
Get PDFAbstract. This paper examines the determinants of demand for money and its stability in Tanzania using annual time series data spanning from 1966 to 2015. Economic analysis of the money demand function is facilitated by the Johansen cointegration, vector autoregressive-vector error correction model (VAR-VECM) and variance decomposition with the main objective of analyzing the factors which, in both short run and long run, influence its movements. The study is thought to be significant because the demand for real money balances serves as the core link between the monetary policy and the real sector of the economy. Based on the annual data under the period of study, cointegration results reveal that there is a long-run relationship between real money balances and the explanatory variables namely, real GDP, deposit interest rate, real exchange rate and inflation rate. Consistent with money demand theory, the VECM results show that the demand for real money balances is positively related with scale variable (real GDP) but it responds inversely to opportunity cost of holding money (deposit interest rate and inflation rate). Moreover, results provide evidence that the demand for real money balances and real exchange rate are positively associated. Furthermore, after incorporating the stability tests, the empirical results show that real money demand function is stable over the 1966-2015 period, suggesting that it is possible to use the narrow money aggregate as target of monetary policy in Tanzania.Keywords. Money demand, VAR-VECM model, Stability.JEL. C32, E41, E52
Moving beyond rhetoric: Can Islamic banking become mainstream in Pakistan
Get PDFAbstract. Challenging economic theory that is developed at micro level is a common practice among macro-economic behaviors of conventional economic system. In this context the paper analyses Islamic banking that tries to bring an interest free financial system. The paper explains the circumstances that may lead to a universal application of Islamic banking in Pakistan. This is done after presenting a detailed discussion on the rational for conventional banking. Keywords. Islamic banking, Capitalism, Islamic economics, Interest rates.JEL. E50, E52, E60