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Trade-off in energy policy: Evidence from a best-worst discrete choice experiment
Full text linkThis study addresses the critical issue of climate change awareness in Pakistan by evaluating the Pakistani citizens’ willingness to adopt energy reforms to reduce CO2 emissions. Using best-worst scaling, we examined five key attributes important for reforming the Pakistan energy policy: CO2 emission reduction, energy independence, employment impact, transition time, and changes in energy price. The findings reveal a strong preference for reducing CO2 emissions, enhancing energy independence, increasing employment, and accelerating policy implementation. Meanwhile, Pakistan residents revealed concerns about potential increases in energy bills. The analysis showed that male, urban, educated, full-time employed, middle-aged (35-44), married individuals with children, high-income, and environmentally conscious respondents were more willing to trade-off for CO2 reduction. In contrast, apprehension about potential job losses and higher energy bills was prevalent across all subgroups. The study recommends diversifying energy sources, including nuclear and hydro-energy, as a strategic approach to balance environmental goals with economic stability in Pakistan. These insights into public energy policy preferences can inform policymakers and researchers in similar developing countries of sustainable energy strategies
Secular Stagnation and Income Redistribution Policy: A Long-Run Kaleckian Approach
Full text linkThis study investigates how the income redistribution policy affects economic growth, employment, income distribution, income inequality, and asset inequality in the context of "secular stagnation." The income redistribution policy is defined as one that imposes capital taxation on capitalists and redistributes it to workers. For this purpose, we construct a Kaleckian model in which, in addition to capitalists, workers own capital stock through savings. Depending on the relative size of workers' and capitalists' saving rates, we obtain the Pasinetti equilibrium, in which both classes coexist, and the dual equilibrium, in which only workers own capital stock, whereas capitalists do not. In the Pasinetti equilibrium, raising the tax rate for capitalists drives an increase in workers' assets and income shares. Simultaneously, economic growth and employment rates increase when the short-run equilibrium is wage-led growth whereas they decrease when the short-run equilibrium is profit-led growth. Hence, the income redistribution policy is effective in reducing inequality and promoting economic growth and employment when the short-run equilibrium is wage-led
Climate Transition, Decarbonization Framework and Energy Sustainability in Ecowas Region
Full text linkSpecifically, the opportunity to cap global warming at 1.5OC is rapidly escaping. Although West African countries and companies across various industries are increasingly addressing this challenge as well as adopting measures to calculate and reduce their carbon footprint; they still face fundamental barriers. These include high upfront costs, technological limitations, regulatory uncertainty, fragmented constraints, unskilled work force, insufficient infrastructure, limited financial access and resistance to change. Therefore, breaking the barriers to buy-in, business case, carbon calculation and mitigation across value chains and green business growth is critical for ECOWAS companies seeking to reach net zero objectives. However, as more efforts are required to reach net zero; public-private collaboration is pivotal in overcoming key barriers as well as providing the condition and signals for businesses to advance their climate actions in West African region. Again, as a technical adjustment, transitioning toward strengthened risk governance in the energy sector through risk informed approach will mark a shift in priorities and decision making in ECOWAS. Yet, with targeted efforts to overcome policy, financial and technical barriers; Nature – Based solutions (NBS) can be transformative in protecting regional natural resources, reducing disaster risk as well as building climate resilience in the region. Similarly, an operational West African Carbon Markets can be a pivotal development pillar that can unlock much needed climate finance across the sub-continent. Consequently, this paper recommended that nations can create a legacy of positive impact for generations to come as well as climate resilient economies. However, international support that is tailored to country-specific requirements must be reinforced to direct sufficient financing to West African countries (ECOWAS)
Cobalt Governance and Strategic Power: A Hamiltonian Intertemporal Analysis of Export Suspension in the DRC
Full text linkIn a context of sustained price decline and heightened volatility in the global cobalt market, the Democratic Republic of the Congo (DRC)—the world’s leading producer—suspended its cobalt exports in February 2025. This decision aimed to recalibrate international prices, reinforce mineral sovereignty, and initiate a structural transformation of the domestic value chain. Against this backdrop, the objective of this article is to assess the economic sustainability of such a strategy by employing a dynamic framework of intertemporal trade-offs between short-term losses and long-term gains. The adopted methodology relies on a rigorous analytical model grounded in the Hamiltonian formalism, allowing the modeling of economic flows weighted by the policymaker’s time preference factor. The findings suggest that while the suspension generates a negative welfare balance in the short term, a favorable reversal remains attainable in the medium term, provided that local transformation, institutional reforms, and bilateral cooperation are rapidly activated. Accordingly, it is recommended that the DRC adopt a strategy of patient statecraft, characterized by a low discount rate, accelerate the implementation of industrial reforms such as local refining and supply chain traceability, establish a contract-based governance framework through structured dialogue between the state and mining operators, and formalize a bilateral partnership with Indonesia to exert coordinated influence on global pricing. In this perspective, cobalt must no longer be viewed as a mere strategic commodity, but rather as a sovereignty lever to be governed intertemporally through coherent and forward-looking economic policy
Addressing current inflation levels through green energy technologies and techniques: recent developments
Full text linkThe US Inflation Reduction Act 2022, was signed into law in August 2022. It aims amongst other objectives, “to lower energy costs for families and small businesses, accelerate private investment in clean energy solutions in every sector of the economy – as well as nationally, strengthen supply chains, and create good paying jobs and new economic opportunities for workers.”
According to the section, “Investing in Clean Hydrogen”, as provided for in the Inflation Reduction Act Guidebook (2023: see page 74 of 184),
“Clean hydrogen constitutes a major component of President Biden’s plan to decarbonize the industrial sector. As well as providing 1 billion was also set aside for a “Clean Hydrogen Electrolysis program”, to reduce the cost of hydrogen produced from clean electricity.” Further, $500 million was committed towards “Clean Hydrogen Manufacturing and Recycling/Initiatives” aimed at supporting equipment manufacturing and strong domestic supply chains for clean hydrogen.
Having experienced inflationary levels at unprecedented record highs – globally, in recent months, as well as the possible impacts of President Trump’s April 2nd (2025) Liberation Day Announcement , this paper will aim to highlight why addressing current inflation levels – and particularly through green energy techniques and technologies – which incorporate and embrace the use of green hydrogen, constitute a much welcomed approach in addressing current inflationary levels
Resilience and Rebound: A Financial Analysis of Czech's Big Four Accounting Firms Post-COVID-19 Recovery
Full text linkIn this comprehensive empirical analysis spanning 2020 to 2022, our study rigorously examines the financial performance of Czech's prominent Big Four accounting firms—Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG—following the multifaceted challenges posed by the COVID-19 pandemic. Focusing on critical profitability ratios, including Net Profit Margin, Return on Assets, and Earnings After Tax Margin, this research is dedicated to identifying the accounting firm that staged the most remarkable comeback during this tumultuous period. The findings unequivocally position KPMG as the standout performer, exemplifying unparalleled financial resurgence. KPMG's capacity to adapt and thrive in the post-pandemic landscape is particularly noteworthy. PwC consistently exhibits financial strength, maintaining a resilient performance throughout the study period, while Deloitte and EY demonstrate stability in their financial metrics. This empirical analysis underscores the dynamic nature of the accounting industry, emphasizing the pivotal role of adaptability and resilience in the face of unprecedented challenges. The insights gleaned from this study provide valuable guidance for stakeholders in the accounting profession, shedding light on strategies and practices conducive to post-pandemic recovery and financial resilience. The exceptional performance of KPMG stands as a compelling case study in navigating the evolving economic landscape
Nexus among Ecological Footprint, Green Finance and Renewable Energy Consumption: A Global Perspective
Full text linkEnvironmental sustainability has become a pressing concern amid accelerating industrialization and economic growth, which have collectively intensified ecological degradation. This study investigates the interconnected roles of green finance and renewable energy consumption in influencing ecological footprints across developed and developing countries from 1995 to 2021. Drawing on ecological modernization theory and sustainable development theory, the analysis employs panel least squares and generalized method of moments methods to examine data from fifty-four countries, using ecological footprint as the dependent variable, while renewable energy consumption and green finance are key explanatory factors. Empirical findings indicate that non-renewable energy consumption significantly increases ecological footprints in all regions, whereas renewable energy reduces ecological impact most notably in developed countries. Green finance contributes to environmental improvement in advanced economies but exhibits a positive correlation with ecological footprint in developing countries, likely due to the transitional nature of green investments. Population density consistently shows a mitigating effect on ecological degradation. These results underscore the importance of tailored green finance policies, technology transfer, and renewable energy expansion, particularly in developing nations, to support global sustainability targets
The Energy Demand–Economic Growth Dynamics Theory (ED-EGD Theory): Insights from Ghana (1970 - 2011)
Full text linkThe paper proposes the Energy Demand–Economic Growth Dynamics Theory (ED-EGD Theory) based on empirical findings from Ghana over the period 1970 to 2011. The theory emphasises the dynamic and long-term interactions between energy demand determinants and economic growth in the context of a developing economy. By utilising a comprehensive dataset spanning four decades and applying robust econometric models (ARDL, Johansen cointegration, Gregory and Hansen structural break tests, and ARIMA forecasting), this study offers a historical foundation for understanding energy-growth linkages. The theoretical model derived from these insights remains relevant to contemporary debates on sustainable energy use and economic planning in emerging economies. While the data ends in 2011, the methodological approach and conceptual development presented in this paper provide a valuable framework for ongoing research and policy formulation
Integrating IoT, AI, and Data Analytics in Food Machinery Production: A Digital Innovation Model for SMEs
Full text linkThis case study features Tecnomulipast, an SME from Southern Italy that specializes in machinery production for the food processing industry. The study is in fact centered on the company's digital transformation process, facilitated by investments in advanced production systems and innovation-driven managerial practices both facilitated by regional co-financing initiatives, including from Regione Puglia. At the center of it all is the integration between a new Industry 4.0-compliant laser welding system in the company's ERP system. Through Internet of Things (IoT) technologies, the system is inherently equipped to collect and transmit batch-level as well as real-time data, instantiating a cyber-physical system for advanced manufacturing. Easy to connect by standard interface (i.e. OPC-UA), the system is tied to an analytics data framework capable of working on structured data (e.g., KPIs, sensors' metrics) as well as on unstructured data (e.g., images), allowing for real-time monitoring, early anomaly signaling, and optimization of processes. Designed for scalability, the related technology architecture is future-proof to include artificial intelligence (AI) integration for augmenting decision-making with predictive and prescriptive analytics. Beyond the technological enhancement, however, the transformation was facilitated by an excellence managerial model that focuses on flexibility, data-driven governance, as well as on constant learning. Tecnomulipast's case offers an replicable template for SMEs—especially in low digital maturity areas—showing that targeted investment, innovation-driven management, and system-level integration might finally eliminate the gap between tech potential and operational performance in Industry 4.0 transitions
New pension system and improvement of fertility in the overlapping generations model
Full text linkThis study examines a new pension system in which pension benefits increase in proportion
to the number of children. We demonstrate that transitioning to this new pension system can
be achieved as a Pareto improvement. Additionally, we show that under certain conditions,
the population may not decline within this system