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A report of Malawi’s innovation capital
Get PDFAbstract. Innovation capital is a key for national progress, especially for those categorized as developing countries. This paper reports multi-indicators and measures of innovation capital of Malawi and offer multiple year trend analysis. Collecting data from secondary, objective data bases, our results demonstrated that, public and large-scale surveys are needed for collecting information about business R&D investment, the industry-academic collaboration, as well as intellectual property management – these data are somewhat neglected. Positively, the results observe gradual growth in the aspects of research personnel and scientific publication, which enrich the country’s innovation capability. These results shed lights on the policy making and business practices.Keywords. Innovation capital, National wealth, Intangible assets, Economic growth.JEL. M10, M11, M14
Estimating Recreational Value of the Foy's Lake: An Application of Travel Cost Count Data Model for Truncated Zeros
Get PDFAbstract. To estimate the annual recreational value provided by the Foy’s Lake, using the most applicable model for on-site data, is the main objective of this study. To adhere to the objective of this study, individual travel cost method (ITCM) has been applied and zero truncated poisson regression model has been found plausible among other models to estimate the consumer surplus. Based on the estimate, the consumer surplus or recreational benefits per trip per visitor can be recommended as BDT 5,875 or US 40.2 million.Keywords: Individual Travel Cost Method, Zero Truncated Poisson Regression Model, Endogenous Stratification, Consumer Surplus.JEL. C24, Q26, Q51
Artificial Intelligence and Urbanization: The Rise of the Elysium City
Get PDFAbstract. From ancient times, Greek religion introduced Elysium as a heavenly place to which admission was exclusively reserved for mortals related to gods, heroes, and those blessed by gods. We argue that the rise of artificial intelligence technology will lead to the creation of Elysium cities. Elysium cities agents will be technologists, technocrats, intelligent machines, and wealthy capitalists. These cities will be the first embracers of the artificial intelligence technology and will do so by incorporating five capabilities: physical, intellectual, information, governance, and socio-economic. As early adopters, these cities will acquire tremendous political and economic power and will turn into self-governing city-states. During the early stages of the AI revolution, these Elysium cities will shed millions of unemployed via a process we call De-tech Migration. De-tech cities will be the recipients of the labor migration from the Elysium cities and will rapidly become and remain impoverished. This article presents key policy suggestions that can be adopted by companies and governments to avoid potential decline and find new pathways towards growth and prosperity in an artificial intelligence economy.Keywords. Artificial intelligence, Urbanization, Smart Cities.JEL. A14
Assessment of Climate Change on Sesame Cultivation in Makurdi Local Government Area of Benue State, Nigeria
Get PDFAbstract. The study was conducted to determine the assessment of climate change and ascertain the awareness among sesame farmers in Makurdi local government area of Benue state. A sample of 120 farmers participated in the study. Descriptive statistics and logit regression were used to analyse the data. The results shows that more male farmers (69.2%) within the age range of 21-40 years are involved in the production of sesame when compared to female farmers (30.8%). It was observed that most of the farmers are married (82.5%). The educational level is low among sesame farmers with most of them having only primary education (45%). The result also shows that most of the farmers have farming experience of less than 10years with a farm size of less than 4 hectares. Insect infestation, soil erosion is perceived as reasons for low yield. Sesame farmers have adapted to such changes through the use of improved seed varieties, use of chemicals and mixed cropping. Results also showed that extension agents, educated farmers and relatives were the major sources of information about climate change. It was also revealed that climate has little effect on sesame as the average yield of the crop is 57.5% compared to low yield of 13.3%, also socio-economic characteristics of the farmers do not have any significant effect on the awareness of climate change as only household size and age are statistically significant at 1% and 5% respectively. To improve farmers’ awareness on climate change, the study recommends that there should be improvement in newspaper and radio/television broadcast in other to sustain sesame production in the event of climate change.Keywords. Agriculture, climate change, perception, sesame, sandy loam, Nigeria.JEL. O12, O13, Q18
The Emerging Market Manufacturing Business Groups (EMBGs) and the Interplay between Innovation in Environmental Sustainability, Digitalization, Internationalization and Corporate Governance Structures: The Case of Turkish Holding Companies
Get PDFAbstract. The purpose of this research is to explore the Emerging Market Manufacturing Business Groups’ (EMBG’s) innovation processes through their internationalization activities and the interplay between innovation in environmental sustainability, digitalization, networks, and corporate governance structures. This study focuses on the business dynamics of manufacturing Turkish Business Groups, namely Turkish Holding Companies. It gives a clear illustration of how manufacturing can be innovative in environmental sustainability while internationalizing and exceling its competitive advantage through utilizing both foreign and domestic resources and digitalization. The paper also demonstrates how these companies share continuous knowledge across subsidiaries and other network systems with the support of their organizational forms and/or corporate governance structures. The study comprises Turkish manufacturing multinationals that operate in the continent of Europe. It examines 15 parent firms and 200 subsidiaries that conduct manufacturing operations in countries, such as United States, Germany, Spain, Italy, Netherlands, and United Kingdom.Keywords.Emerging market manufacturing business groups, Environmental sustainability, Innovation, Digitalization, Network systems.JEL.O31, O32, O35, G34, F23, D21
Economic freedom and effects on economic growth: A time series analysis for Turkey
Get PDFAbstract. Economic freedom represents personally free economic activity level. Thus such as Fraser Insitute or Heritage Foundation the level of economic freedom in Turkey for a compound period of before and after 1980 has been constituted originally. Freedom index referred to internationally measures of organization composed of different indicators. These indicators are derived from the point of view of market economy, liberal perspective. Level of economic freedom indicated by index values are to be analyzed econometrically with another economic indicators. Other variables are human capital, income per labor stemmed from MRW Model of economic growth, physical capital etc. Results of time series analysis with ARDL Model, Cointegration Methods found out significant relationship between economic freedom and growth. Findings are differently and specifically evaluated for Turkish economy and political economy.Keywords. Economic freedom, Economic growth, Turkish economic freedom index, ARDL bound test approach, Johansen cointegration analysis.JEL. F43, N10, O10
Principle-agent analysis of technology project (LINCOS) in Costa Rica
Get PDFAbstract. In this paper we analyze the institutional arrangement between various actors to understand how ICT project objectives flow among actors in a standard LINCOS project and how they would affect the sustainability and effectiveness of LINCOS in particular and an ICT project in general. Since there are many actors involved in different stages and processes of a single LINCOS project, the paper analyses the bilateral and multilateral relationships among these actors to understand the factors that might affect the efficiency of the ICT project. In other words the paper looks at the actors involved in a LINCOS project in an effort to capture those circumstances under which a LINCOS project is exposed to principal- agent problems.Keywords. Technology, Game theory, Project Evaluation.JEL. C70, N70, N75
Impact of cultural factors on enterprise resource planning
Get PDFAbstract. Organizational culture can also be evaluated as an application stage for the processes and fixations that occur with communication. The lack of cooperation at the desired level may lead to a decrease in effectiveness, especially at the points where teamwork is required, and to a slower implementation. This is one of the most important factors especially for the common purpose and goal setting and for the generations of the application schedules to be generic. The expected cultural change with the ERP system in the company is that the communication and monitoring needs between the units can be met depending on the integration between the processes. During the installation, inter-departmental communication is one of the processes that must be carried out in different dimensions. However, it may be possible to provide mutual optimization between the processes and share the inconveniences. Thus, problems and methods of solution is collected in a common pool will provide opportunity to access the desired point on the same technical jargon and also potential problems the same communication language means in the other unit able to resolve this quickly and both costs and expected benefits. We can summarize the purpose of the research under the heading below: Determine the positive or negative relationships of the cultural factors required for more effective and successful ERP establishment. It can help to ensure that found relationships are taken into consideration in project planning for establishing business and consulting entities. Identifying Cultural Factors for ERP implementations as a guide to management and setting out the performance measurement system for ERP. Keywords. Organizational culture, ERP system, Cultural factors.JEL. M11, M14, M15
The nexus between size and efficacy of government: evidence from OPEC
Get PDFAbstract. From classic to modern economic theories, the scope and size of government in economy have been always main topics for economists. The governments have played different roles in a historical context. Provision of public goods is a generally accepted task for all governments. The supply of public goods requires efficient allocation and management of scarce resources. Government efficacy stems from good governance and proper planning and policy-making. This paper aims to bridge from government size to government efficacy the Organization of the Petroleum Exporting Countries (OPEC). To this end, a panel data in the model is estimated during 2002-2015 by using some control variables. Findings indicate a negative relationship between government size and efficacy. In addition, oil rents affect government efficacy negatively. The trade openness result in efficient government. Finally, economic growth has positive effect on result in government effectiveness. According to findings, minimization of government size, injection of oil revenues into Sovereign National Funds (SNFs), adoption of open door policies, and targeting sustainable economic growth give rise to an efficient government.Keywords. Government size, Government effectiveness, Trade openness, Oil rents, OPEC.JEL. F41, F53, H11, P48
A Small Scale Macroeconomic Model for Morocco
Get PDFAbstract. In this research paper, we build a New Keynesian reduced-form macroeconomic model for Morocco. The model encompasses three main blocks: an aggregate demand equation (IS curve), a price-setting equation (Phillips curve) and a Taylor-type monetary policy rule. In our model, we consider a significant forward-looking component when explaining inflation dynamics, which enables us to include agent’s expectations. The downstream aim of this work is to provide the research community with new possibilities in terms of economic workhorse modelling, particularly for monetary policy analysis purposes.Keywords. Small scale model, Forward-looking expectations, Monetary policy, Fixed exchange regime.JEL. C32, E12, E17, E43, E47