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To ensure development sustainability, the linear economic approach is being transformed into a cyclical model. For the pulp and paper industry (PPI), which occupies a significant place in the Russian economy, the shift of circular principles to the field of bioeconomics is becoming more important. This requires the development of basic biotechnological approaches implemented in closed cycles (biorefining). The aim of this study was to develop the biotechnological foundations of the circular economic system of the pulp and paper industry. To achieve the goal, the factors for the implementation of the circular mechanism in the pulp and paper industry were established. The composition of pulp and paper waste was systematized, taking into account the places of their occurrence; the directions and forms of the biorefining of pulp and paper secondary renewable resources were determined; and the principal possibility of obtaining bioethanol, based on the whole complex of sugars from cellulose production wastes, is shown. A wide range of general scientific methods was involved (analysis, synthesis, classification, modeling, etc.). Statistical methods were used to process experimental results in the field of pulp and paper waste bioconversion. The biotechnologies involved included methods of destruction, detoxification, and conversion of useful resources into secondary raw materials and final products. From the standpoint of the environmental approach, there are serious efficiency imbalances in the pulp and paper industry, which justify the implementation of circular mechanisms for organizing economic systems. The overall efficiency is ensured by the use of renewable resources and obtaining environmental effects. Algorithms and parameters of green biotechnological regulations for pulp and paper industry waste recycling provide the possibility of microbiological production of a complex of products: biocomposites, bioplastics, medical products, fertilizers, feed additives, vitamin supplements, and bioenergy resources. A strategy for the efficient biochemical processing of pulp and paper waste into green ethanol was determined. The possibility of increasing the efficiency of alcoholic fermentation using various biocatalysts was experimentally confirmed. The technological features of this method, associated with the need for microaerobic fermentation modes, were determined. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth literature. However, it reviews more material content of the published papers in the field, generally including the number of publications, authors, title, H-Index and authors' affiliation. Design/methodology/approach: The authors use biblioshiny by R in conducting bibliometric analysis. Based on the results of analysis, the authors only found 39 relevant documents to the topic with the help of keyword of "Islamic political economy". The authors analyse the data and visualize it into bibliometric images for the convenience of the readers. Findings: There are 39 documents on IPE in the annual scientific production. The year 1980 had the lowest productivity at 3% while the year 2007 showed an increase in scientific productivity by 13%. The most significant increase in production occurred between 2014 and 2015 by 8%, while the most significant decline occurred between 2007 and 2008 by 10%. The most significant contributors are Akan, T., Choudhury, M.A. and Asutay, M. According to the Corresponding Author's Country, the UK has eight articles on IPE. Humanomics is the most influential Journal, with six documents. Research limitations/implications: This research only examines documents sourced from Web of Science and Scopus under the title "Islamic political economy" and does not include articles from other sources. This research has implications for future researchers and suggests a shift in recent research on IPE towards exploring current realities and expanding beyond traditional economic and political aspects. The goal is to gain a comprehensive understanding of Islam's role in shaping economic and political systems, promoting inclusive sustainable development and social justice, and exploring its relationship with broader political and economic systems. Originality/value: IPE has become a trendy topic in the early days, the second half of the 20th century, during the revival of the Islamic mode of finance and development. However, with time, the discussion on this topic appeared less in scientific and academic publications; this issue needs an overview of how far this discipline has evolved. This work aims to identify future research trends in this area. Scholars should investigate articles by author, institution, country, databases, data sources with high-impact factors and objective metrics to get new perspectives. [ABSTRACT FROM AUTHOR]

In the context of integrated energy systems, the synergy between generalised energy storage systems and integrated energy systems has significant benefits in dealing with multi-energy coupling and improving the flexibility of energy market transactions, and the characteristics of the multi-principal game in the integrated energy market are becoming more and more obvious, but it is difficult to improve the flexibility of the transactions between "source-load-storage" in a one-way master–slave game structure, and the problem of how to establish an optimisation strategy for the coordination of integrated energy systems and energy storage systems is an urgent issue. How to establish a coordinated optimisation strategy of integrated energy system and energy storage system is an urgent problem. Therefore, this paper proposes a generalised shared energy storage and integrated energy system transaction optimisation method based on a two-stage game model, which improves the flexibility of the system transaction by constructing a two-stage game energy transaction model in which the subject acts as a leader and a gamer. Compared with the current one-way game model that does not consider the game on the energy storage side, the coordinated optimisation method proposed in this paper enables the energy storage side to participate more actively in the scheduling, which improves its revenue by 20.6%, the revenue on the energy-using side by 6.3%, and the overall revenue of the system by 5.4%, and at the same time, the load demand response regulation effect is more obvious, so the energy scheduling strategy proposed in this paper is able to weigh the interests of each subject and increase the overall economic benefits of the system. [ABSTRACT FROM AUTHOR]

With the diversification of users' energy demands, accurate load forecasting is an important prerequisite for optimal scheduling and economic operation of the system, but a single‐load forecasting method cannot effectively predict multi‐energy loads accurately. Therefore, this paper proposes a multi‐energy load forecasting method based on bidirectional long short‐term memory (BiLSTM) and parallel feature extraction networks. Firstly, residual network and convolutional block attention module were used to extract the spatial coupling features of multi‐energy load data. Secondly, BiLSTM is used to capture the temporal features and long‐term dependencies in the load data, and the spatial coupling features are fused to obtain non‐linear prediction results. Finally, the non‐linear prediction results and the linear prediction results obtained by using multi‐energy linear regression were linearly superimposed to obtain the final prediction results. In this paper, IES load data of Tempe Campus of Arizona State University was used to verify and compared with several existing methods, and the results showed that Weighted Mean Absolute Percentage Error decreased by more than 20%. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate how embedding accounting techniques of cost and budgeting within the Australian National Disability Insurance Scheme (NDIS) potentially perpetuates colonial practices for Australian First Nations people living in remote areas. Further, the paper aims to explore how accounting might help to integrate the unique modes of accountability First Nations people have over disability care into the NDIS funding system. Ultimately, the aim is to discern whether accounting practices can be mobilised as a means to decolonising the NDIS framework. Design/methodology/approach: This study uses a qualitative methodology to analyse public hearings from the Australian Disability Royal Commission. Drawing on Bhabha's (1994) concept of the "third space", this study investigates how accounting techniques can be used to potentially decolonise the NDIS. This study also borrows Bhabha's (1994) concept of the third space to explore the potential for decolonising the NDIS through accounting techniques. Findings: Findings show that the accounting techniques pertaining to funding and costs embedded within the NDIS contribute to displacing and disconnecting First Nations people from their cultural practices and ways of life. Further, the analysis reveals that the NDIS funding system could help to decolonise the NDIS space if it were modified to incorporate First Nations' perspectives on accountability for disability care. Originality/value: The case of the NDIS exposes glimpses of colonisation in contemporary Australia, where Western institutional and economic systems dominate over the structure and authority of the practice. In this paper, this study demonstrates that the accounting system used by the NDIS plays a role in marginalising First Nations people. However, accounting, as a technology of negotiation, could also be mobilised to enhance accountability for disability care outcomes and pave the way for decolonising public policies. [ABSTRACT FROM AUTHOR]

Copyright of Transformations in Business & Economics is the property of Vilnius University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper develops an optimal replacement policy V* for a multi-state manufacturing system. The manufacturing system would be repaired imperfectly once its performance cannot meet the production demand, and would be replaced when the production demand is not met for the V*-th time. Due to imprecise state assignments and unpredictable external working conditions, the performance and transition intensity of the multi-state machine cannot be accurately identified and then inevitably lead to epistemic uncertainty. In addition, the economic dependence and resource dependence that prevailed in the manufacturing system should be considered. In this paper, economic dependence is described as the time and cost saved by simultaneously repairing multiple identical machines, and resource dependence is caused by finite capacity buffers. To take these into account, the fuzzy Markov model and fuzzy stochastic flow manufacturing network (FSFMN) are tailored to evaluate the fuzzy reliability of machines and manufacturing systems, respectively. To obtain the optimal replacement policy V*, we derive the expression of the long run fuzzy profit rate under epistemic uncertainty. The replacement policy is demonstrated on the ferrite phase shifting unit manufacturing system, and the results of the subsequent comparative study and sensitivity analysis show that this policy is more effective. [ABSTRACT FROM AUTHOR]

Studies of the Bronze Age in the ancient world traditionally have focused on mainstream populations, together with their social organization, and the economic subsistence strategies implemented by them. As a result, those people who lived on the edges of society, whether defined geographically, socially, demographically, or economically, have received correspondingly less attention. Yet, peoples on the margins of mainstream populations fulfilled roles integral to the primary economic and social systems in Bronze Age cultures in the ancient Near Eastern and North African world. This concept of marginal and/or liminal groups in the ancient world, the importance of examining them, and different methods of addressing them, are presented here, as the introduction to the collected papers on marginality and liminality in the Bronze Age world of the ancient Near East and North Africa in this special issue of the Journal of Ancient Near Eastern History. [ABSTRACT FROM AUTHOR]

This paper first describes the Bretton Woods system: its origin, what it was meant to achieve, and why it collapsed. We then describe the emergence of the global non-system in which inflation targeting has replaced full-employment Keynesianism and floating exchange rates have replaced the Bretton Woods set-up of fixed but adjustable exchange rates. We describe how the Bretton Woods system set about achieving the three objectives laid down for a well-functioning international economic system by John Maynard Keynes: full employment without inflation, sustainable current account balances between countries, and a sustainable flow of international financial capital—on the understanding that an open trading regime is also fostered. Because the global non-system is now very different from the Bretton Woods system, Keynes's objectives now need to be achieved in a very different manner. Looking forward, this non-system faces a number of longer-term challenges. Important adjustment issues will arise in relation to the global demographic transition; the potential long-term slowdown in productivity growth; and the rise in investment in renewable sources of energy which will be necessary to help ensure that the world is able to move towards zero emissions of carbon by 2050. We also discuss important policy issues in relation to the flows of international capital to emerging market economies, and the likely need for a sovereign debt reconstruction mechanism. We then go on to consider two significant structural changes to the world—the emergence of the European Monetary Union and the rise of China. A final section of the paper considers the importance of leadership in this global non-system. [ABSTRACT FROM AUTHOR]

According to the theory of economic modernization, regional economies will ultimately be harmonized in a global free economy and that this global free market that will ensure the socioeconomic interests of all. Through an inquiry into the development of the free market in the mid-19th century of England, John Gray argues that it is not reasonable to expect that all regional economies will follow the same pattern due to their diverse social and political conditions. For Gray, the idea of homogeneity of regional economies is rooted in enlightenment theory that takes the idea of universal civilization for granted, and he develops a critique of this idea of economic modernization. This paper focuses on his critique and explores how human economic wellbeing through homogeneity of economies is utopic, explaining that fostering mutual cooperation to facilitate regional economic growth is necessary for human economic wellbeing on a global level. Mutual corporation is not possible without legitimate and moral ground, and this paper suggests that a broad-based human values system can serve as this moral ground for mutual cooperation. By constructing an economic system based on this ground, economic wellbeing can be achieved in the true sense. [ABSTRACT FROM AUTHOR]

Glenn Diaz's The Quiet Ones explores people's lives in the labor force created by a global market system. Work, public services, geography, identities, production, and consumption are generally shaped and directed by the flow of boundary-less foreign capital investments from developed countries. The novel presents characters as workers in the business process outsourcing industry in the Philippines, expatriates as highly skilled workers who migrated to the country to look for better economic and social capital opportunities, and the various relationships with people surrounding these workers. This paper charts the terrain, nature, and the systemic movements of capital through (1) capital-as-presence in the text, framing or creating work patterns, human relationships, consumption behavior, and (2) space-as-absence that mediates relationships between states, citizens, and the State (represented by the law and state authorities), between citizens as workers, between citizens as workers and their cities. The paper concludes that the neoliberal economic agenda in/of globalization created a language where capital is deeply embedded in a textual negotiation of/in meanings that legitimizes the power structure that perpetuates, supports, enables, and reinforces an oppressive elite, imperialist, and capitalist economic market system as the only alternative in rendering a concrete livable world. [ABSTRACT FROM AUTHOR]

This paper integrates two theoretical frameworks to explore optimal resource allocation and the dynamics of the money cycle in a hypothetical economy. It examined the theoretical background of the problems of choice. The first framework considers an economy governed by an omniscient authority responsible for production and distribution decisions, focusing on the logic of choice and efficient resource allocation. The second framework introduces the concept of the new economic system of Economocracy, emphasizing the role of the Money Cycle theory in economic management and governance. By combining these frameworks, the paper provides a comprehensive understanding of productive and distributive efficiency and examines the impact of the money cycle on economic stability and growth. A mathematical modeling of the money cycle is presented to highlight the relationship between money distribution, economic capacity, and overall economic health. The integrated approach offers valuable insights for optimizing resource allocation and enhancing economic resilience. [ABSTRACT FROM AUTHOR]

This paper seeks to explore whether bank credit (BC) contains useful information for mitigating economic policy uncertainty (EPU). The results of the bootstrap rolling-window test show that EPU is an effective channel for triggering BC. Additionally, it finds a feedback effect of BC on EPU, indicating that BC is a favorable tool for predicting EPU. Rising policy uncertainty leads banks to adopt aggressive or conservative credit strategies, which further increases policy adjustments. This circular relationship seems to be caught in a chicken or egg dilemma, demonstrating the importance of the government and the banking system in maintaining economic stability. [ABSTRACT FROM AUTHOR]

Purpose: This paper examines the impact of the COVID-19 pandemic on the government's role. The study aims to contribute to the discourse on government intervention and the provision of public goods in a supranational context characterised by diverse socio-economic landscapes and shared policy objectives. Design/methodology/approach: It investigates three dimensions: the temporal evolution of government interventions, the spatial dimensions of the pandemic's impact, and the structural implications for public policy and sustainability. This analysis is based on a comprehensive review of literature, policy documents, and case studies from EU member states. Findings: Findings highlight the significance of long-term strategic planning, international cooperation, and equitable economic systems in managing crises and fostering a sustainable environment. Originality/value: It comprehensively analyses how integrated policy frameworks can enhance crisis resilience, offering practical recommendations for policymakers and contributing to the broader discourse on sustainable development and public governance. [ABSTRACT FROM AUTHOR]

In the context of energy conservation and emission reduction, the integration and consumption of large-scale wind and solar resources is an inevitable trend in future energy development. However, with the increase of wind and solar grid-connected capacity, the power system also requires more flexible resources to ensure safe operation. To enhance the economic efficiency of the complementary operation of wind, solar, hydro, and thermal sources, considering the peak regulation characteristics of different types of power sources, the study of the joint dispatch model of complementary utilization of various generation methods like wind, solar, hydro, thermal, and storage is of great significance for the economic dispatch of the power system. Existing studies mainly focus on traditional thermal power units or hydropower units, with few studies investigating the impact of pumped-storage power stations on the absorption of renewable energy. Firstly, this paper introduces the composition and function of each unit under the research framework and establishes a joint dispatch model for wind, solar, hydro, and thermal power. Secondly, the paper elaborates on the objective function within the model, mainly covering the operating costs of thermal power units, hydropower units, pumped storage, wind and solar units, the cost of discarding new energy, and the cost of load shedding. Subsequently, the paper presents the constraints of the system model, mainly the feasible boundaries for the operation of each unit within the system. Finally, The results of the calculations show that the proposed model reduces the total operating cost by 12% and the power abandonment rate by 82% compared to the conventional model. It is shown that the proposed model can not only significantly improve the economic efficiency of the system operation but also reduce the level of energy waste and load shedding, effectively enhancing the degree of energy utilization within the system. [ABSTRACT FROM AUTHOR]

Since the Global Financial Crisis, interest in financial cycles has risen significantly. While much of modern macroeconomics conceives financial crises as the results of exogenous shocks, Minsky's financial instability hypothesis posits that financial cycles are endogenous to the economic system. The main contribution of this paper is to use historical macroeconomic data for the United States (1889–2014) to econometrically test for endogenous Minsky cycles: the interaction of procyclical private debt-to-income ratios and a dampening effect of private debt on economic activity. We analyze corporate debt-gross domestic product (GDP) growth cycles, which feature in Minsky's original writings, and mortgage debt-GDP growth cycles as in some recent Minsky-inspired models. We find robust evidence of endogenous corporate debt-GDP cycles over the last 125 years. These results are driven by the pre-World War II (WWII), and post-1973 periods, which had a more liberal economic policy orientation. We find no evidence of mortgage debt-GDP cycles. [ABSTRACT FROM AUTHOR]

This paper explores the significance of teaching and learning digital copyright laws within a reformed Nigerian copyright regime. It further analyzes how an experiential and clinical teaching pedagogy, developed as part of a copyright law curriculum, will become an agency to protect, safeguard, and impel the development of Nigerian creative industries, particularly the film sector. Nigeria is Africa's largest economy and an emerging creative industrial power. The training and expertise of its legal professionals in the knowledge and creative economy have significant impact beyond Nigeria, across the length and breadth of the other African countries. The article sets out to provide a recipe for a functional approach to the development of a digital copyright curriculum in the law faculties of Nigerian universities as a pragmatic and industry-focused way of teaching while adding value to the creative industries. The paper further examines how the law faculties of Nigerian universities could redesign their copyright curriculum to teach not just theories but, more importantly, the wider policy framework. The paper also explores how to understand the practical, business and economic systems of the creative industries. The paper uses 'Nollywood', the contemporary Nigerian film industry, as a case study to continue the discussion on the sustainable development of the Nigerian creative industries. [ABSTRACT FROM AUTHOR]

Evaluation of urban environmental sustainability is an important prerequisite for scientific decision-making of urban sustainability. This paper proposed an evaluation method of urban environmental sustainability based on the integration of multi-improvement demands. Considering the interaction between the economic and social systems on the environmental system, this paper constructed an urban environmental sustainability evaluation indicator system from three dimensions: environmental foundation, environmental pollution, and environmental protection. Combined with the actual improvement demands of each city, a corresponding weighting method was constructed, and the weights of each city's individualized improvement demands were obtained through the analysis of indicator data. Further, in order to consider the fairness and guidance of the evaluation, the corresponding random simulation algorithm was matched for the individualized weights, and the evaluation value and the superiority probability in a stable state after multiple simulations were sought. Based on this, this paper conducted an empirical evaluation of urban environmental sustainability of the 14 cities in Liaoning Province, China. Through the demand-driven evaluation model, cities can obtain improvement suggestions that meet their demands while understanding their environmental sustainability level. It is convenient for top-down policy guidance and bottom-up practical exploration. [ABSTRACT FROM AUTHOR]

Copyright of Economy & Market Communication Review / Casopis za Ekonomiju i Trzisne Komunikacije is the property of Pan-European University Apeiron and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper presents a model of scientific approach to problem solving. The model is based on a gradual approach, preparation, resolution, verification and improvement of solutions. Each of the steps in the process of solving a problem or task requires thorough consideration and analysis after which the question "satisfied?". The affirmative answer points to the next, while the negative requires further analysis or a return to one of the previous steps. The presented approach can be successfully used to solve problems and tasks in economic systems and in scientific research in general. The presented model confirmed its simplicity and practicality in concrete scientific research. [ABSTRACT FROM AUTHOR]

The objective of the present paper is to put a milestone on the roadmap toward a global economic system of professional sport, at least as regards its financial dimension, i.e., its model of finance, its ownership, and some new trends in global sport finance. Professional sport went through a radical change during the 1990s when switching from gate receipts to TV rights revenues as its major source of finance and from local/domestic to internationalised/globalised sources of revenue. This change was more marked in European soccer (football) before spreading throughout other professional sport disciplines. In fact, the whole distribution of sport financing was restructured as shown in this paper. Starting from this evidence of the first stage of sport finance globalisation, it appears that new transformations have been at work in sport finance more recently. In particular, soccer moved from globalisation of flows (revenues, finance) to asset globalisation in terms of club ownership. At last, this paper discusses the emergence of new trends in global sport finance such as treating professional (soccer) players as financial assets and crypto-assets penetrating the sports business. [ABSTRACT FROM AUTHOR]

The paper is an attempt at applying Samir Amin's lens in the analysis of socio-economic development in Africa. Social and economic development in Africa has been substandard, largely because of the economic system followed and because effective structural transformation has not taken place – Samir Amin's works explained what needed to be done to transform Africa (and the broader global south). It is in this context that the paper posits that post-colonial Africa has had to contend with disruptive socio-economic and political realities instituted by European colonialism, slave trade and inappropriate integration of Africa to the so-called global economy. The fundamental explanation for the poor socio-economic development in Africa is global capitalism, and one of the possible solutions is in Samir Amin's delinking proposal as well as the restructuring of the African economies. [ABSTRACT FROM AUTHOR]

Purpose: The goal of the paper is to analyze the concept of environmental sustainability. Design/methodology/approach: Critical literature analysis. Analysis of international literature from main databases and polish literature and legal acts connecting with researched topic. Findings: Environmental sustainability is characterized by an interdisciplinary approach that considers the interconnectedness of environmental, social, and economic systems. It emphasizes long-term thinking, systems thinking, collaboration, policy and governance, education and awareness, economic considerations, and resilience and adaptation. Implementing sustainable business practices offers numerous benefits for organizations. These benefits include environmental conservation, cost savings, enhanced brand reputation, regulatory compliance, innovation and differentiation, employee engagement and retention, and long-term resilience. However, there are also potential disadvantages, such as initial costs, complex implementation, resistance to change, limited availability of sustainable technologies, complexity of measurement and reporting, supply chain challenges, and potential trade-offs. Despite the challenges, the advantages of implementing sustainable environmental business practices outweigh the drawbacks. The benefits include improved profitability, market competitiveness, customer loyalty, risk mitigation, and long-term business viability. By properly planning, managing change, and continuously improving, organizations can successfully navigate the challenges and reap the rewards of sustainable environmental practices. Originality/value: Detailed analysis of all subjects related to the problems connected with the environmental sustainability in business. [ABSTRACT FROM AUTHOR]

The COVID 19 pandemic has transformed the entire world's strategy. The governmental oversight, fundamental and significant views were renewed and prioritized according to the unpredictable pandemic process and force-majeure demand. The world's governments and private sectors have faced new socio-political and economic problems and challenges that require quick, effective and powerful solutions. The nation's economic viability during the pandemic and post-pandemic periods depended on these decisions and their effectiveness. Monetary, fiscal, and financial policies suffered significant difficulties in maintaining the economic system. Covid 19 has created difficulties in predicting economic sequences alongside social problems and the complete lack of economic precision in all segments has caused macroeconomic uncertainty. This paper deals with the microeconomic analysis of Georgia in the post-pandemic period, discussing both the main economic parameters of the country and its dynamics, as well as the analysis of its impact on the microeconomic situation. The paper analyzes the impact of the pandemic on the main sectors, as well as the decisions made by the state for economic stimulation and its effect. The work is mainly based on the official information of state structures and international organizations, as well as the works of Georgian and foreign scientists, and based on them, a coherent, multi-component analysis is presented. The theoretical framework of the article is based on fundamental, conceptual studies of Georgian and foreign authors in the field of our research. The paper presents conclusions and recommendations based on a complex study of macroeconomic factors, which are important for scientific circles, both the state and the private sector. [ABSTRACT FROM AUTHOR]

The present study identifies economic, political, and institutional variables that influence the distribution of personal incomes in the Eurozone countries facing severe fiscal imbalances, namely Greece, Italy, Portugal, and Spain. Crucially, this paper is the first to investigate the effect of the corrective arm of the Stability and Growth Pact, the so-called Excessive Deficit Procedure (EDP), on the income distribution of the aforementioned economies, where EDP was imposed over a long time period. The empirical results of this study show that (i) EDP impact depends on the specific mix of policy measures undertaken and that (ii) a high public debt does not reflect the existence of common factors shaping income distribution in the four Southern European economies. The share of labor income in total income, constitutes a significant determinant of income inequality. However, we find that the relationship between labor share and income inequality is also country-specific, depending on the intrinsic characteristics of each individual economic system. [ABSTRACT FROM AUTHOR]

Copyright of Raumforschung und Raumordnung is the property of Oekom Verlag GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Alternative institutions have played a significant role in the difficult and tenacious development process of private enterprises in recent decades. the paper applied 306 listed companies' data from January 2012 to December 2022 to investigate the relationship between institutional gap and enterprise behavior. Based on the identified, classified, and explained formal and alternative institutions, it proposed the concept of 'institutional gap' to infer the overlapped content of these two states. Concluding from the empirical results, Chinese private enterprises that introduced state-owned equity outperformance in management, financing and entering industries with high barriers. Moreover, the channel of state-owned equity introduction is compared with entrepreneurs' political participation. Although introducing state-owned equity is a crucial approach, the establishment and improvement of relevant legal systems is suggested, such as formal regulations and laws. The government should deepen the reform of the economic system to improve the business environment, so private enterprises consciously rely on market mechanisms to allocate resources efficiently and rationally, instead of actively seeking connections with the government to obtain benefits. The supervisory role of checks and balances shareholders should be exerted to the greatest extent to maintain and increase the value of state-owned assets, rather than allowing the controlling private shareholders to use them as resources acquired political capital. [ABSTRACT FROM AUTHOR]

Interest in system change is rising, driven largely by growing awareness that flawed economic and political systems are the root causes of climate change and other major challenges. This paper summarizes a whole-system framework (Global System Change - GSC) and practical implementation strategy (System Change Investing - SCI) that can guide and accelerate system change. It is based on the Global System Change books. Using whole-system thinking and extensive references, the books provide systemic solutions for all major areas of society. System change is a very large opportunity for business and society. Comparing human systems to nature shows that humanity has the potential to be nearly infinitely more sophisticated and prosperous than we are now. This paper discusses the higher-level thinking, nature-based frameworks, and practical system change strategies needed to reach our fullest potential, individually and collectively. [ABSTRACT FROM AUTHOR]

The purpose of this study paper is to examine Jordan's mineral development and investment policies. Mining policies that attract foreign investment must handle both traditional investor concerns and some new challenges. The paper delves deeply into issues such as a country's geological, political, financial, regulatory, operational, fiscal, social, and environmental characteristics, as well as profit and marketing factors. After analyzing these criteria for Jordan, they were compared to the MENA region in order to provide insights into potential changes and improvements to both the MENA and Jordan mineral policies. International investors have not been drawn to Jordan's mineral resource sector for a number of reasons, including—but not limited to—a lack of digitally available and accessible geological data, lack of access to finance exploration projects, an unfavorable legal and fiscal environment, lack of many of the best practices for transparency standards, and lack of awareness and promotion of Jordan's mineral potential among international businesses. For Jordan to improve its standing in the world for investing in mining, it needs effective mining regulations, effective regulatory agencies, very lenient foreign investment laws, highly competitive tax system, enormous geologic potential, highly qualified personnel, exceptional local expertise and skills, modern infrastructure, and stable political and economic systems. [ABSTRACT FROM AUTHOR]

Purpose: In response to the pandemic, the Korean government introduced fiscal measures: including the Emergency Disaster Relief Funds which is the first-ever universal benefit in Korea. This paper identifies the effects of the measures on poverty, household income and household consumption expenditure under the disproportionate effect of the pandemic. Design/methodology/approach: This study analysed the Korea Household Income and Expenditure Survey (KHIES) with Changes-in-Changes at five percentiles (5, 25, 50, 75 and 95%) instead of Difference-in-Differences (DD) because the parallel trends assumption of DD cannot be investigated due to the recent KHIES redesign. In addition, it also exmined the effects on vulnerable groups (e.g. female, elderly and young households). Findings: COVID-19 has had prompt and disproportionate effects on the vulnerable, such as low-income, female and elderly households. However, the government measures had a limited effect. First, the measures could not mitigate the initial income reduction and only had temporary positive effects on income and consumption expenditure. Second, young households tended to save the relief instead of present consumption. Lastly, education disparity was observed at 25 and 50%. Therefore, this study suggests that response measures need to be sustainable and concentrated on the vulnerable. Originality/value: A large literature estimated effects on either household income or household consumption expenditure, and focused on macroeconomic indices (e.g. marginal propensity to consumption). This study analysed both income (poverty) and consumption expenditure and found policy implications for better welfare system in an economic downturn. [ABSTRACT FROM AUTHOR]

Copyright of New Economist / Novi Ekonomist is the property of University of East Sarajevo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

As an important part of a modern economic system, a modern industrial system is the key to promoting high-quality economic development. China's modern industrial system construction focuses on industrial restructuring. At present, in order to strengthen the support and leading role of transportation in the modern economic system, China is actively promoting the construction of a competitive transportation power. Therefore, it is necessary to study whether large-scale investment in transportation infrastructure can promote industrial structure transformation and upgrade. This paper takes China as the research background. Firstly, a RAM model was employed to evaluate the unified economic and environmental efficiency of transportation infrastructure that measures the level of transportation infrastructure investment. Secondly, a PVAR model was built to evaluate the dynamic effects of transportation infrastructure investment on industrial structure transformation and upgrade. Finally, from the perspective of rational flow and optimal allocation of resource factors, the paper points out that transportation infrastructure investment can indirectly promote industrial structure transformation and upgrade through three paths, namely expanding market demand, reducing resource misallocation and increasing technological innovation, and the first half of these paths are positively regulated by policies. Then, an empirical test was done with the moderated mediation model. Research findings suggest that: first, improvements in the unified economic and environmental efficiency of transportation infrastructure can only promote industrial structure supererogation in a short time, but have no significant effect on promoting industrial structure rationalization in the short or long term. Second, in actual situation, transportation infrastructure investment can promote industrial structure transformation and upgrade only by expanding market demand and technological innovation, but not by reducing resource misallocation. Third, the first half of these paths through which transportation infrastructure investment promotes industrial structure transformation and upgrade are positively regulated by policies. This paper provided some theoretical reference for promoting industrial structure transformation and upgrade by virtue of the sustainable development of transportation. [ABSTRACT FROM AUTHOR]

The Green New Deal (GND) has emerged as a crucial progressive agenda for sustainability transition, but there have been few attempts to develop it into a concrete programme for government. This paper considers one such attempt – the GND proposals put forth by the British Labour Party under Jeremy Corbyn – and how it tackled three key challenges faced by the broader GND agenda: its reliance on the state, its relationship with capital, and its Western centrism. The paper argues that these challenges gave rise to tensions within Labour’s proposals: treating the state both as an instrument and as an object of change, ambivalence towards capitalism as an economic system and struggling to reconcile the competing forces of nationalism and internationalism. By examining these challenges and Labour's efforts to overcome them, this study provides valuable insights into the messy politics of enacting Green New Deal visions. [ABSTRACT FROM AUTHOR]

Sustainable management in high-tech enterprises is a key aspect of successfully operating modern companies, especially under conditions of risk and uncertainty. This study reviews the field of sustainable management and interval analysis and identifies the main trends and challenges facing high-tech enterprises in the modern world. This study emphasizes the importance of applying interval analysis in making strategic decisions and developing sustainable business models that can adapt to variable environments. This paper presents empirical data, illustrating the practical application of interval analysis tools in the management in high-tech enterprises. It analyzes the effectiveness and potential of this approach to increase the levels of sustainability and competitiveness of organizations in constantly changing business environments. In general, this article is a valuable contribution to the development of sustainable management theory and practice for high-tech enterprises, enriching the existing knowledge in this area and offering new perspectives for research and practical application. Our research has been validated and is presented in the results section. The purpose of this study is to present current developments in methodologies and tools for risk measurement within the probabilistic paradigm of uncertainty, which are supposed to be used in relation to the economic evaluation of real investment projects. The methodological directions or approaches to risk measurement formed in this context are (1) based on quantile measures, within which the quantitative aspect of risk is modeled using quantile quantiles of the distribution of a random variable describing the possible (predicted) results of economic activity; (2) the Monte Carlo method, which is a tool for evaluating the indicators of economic efficiency and risk in justifying real investments, taking into account different distribution laws and mutual relations for the financial and economic parameters of the investment project, as well as its computational and instrumental elaboration. [ABSTRACT FROM AUTHOR]

• Addressing Pasinetti's "institutional problem" requires theorising actions. • The paper theorises actions within institutions and changing economic structures. • The paper theorizes collective and particular objectives within economic structures. • How social groups represent structures is crucial to explain structural change. The paper builds on Pasinetti's separation between a dynamic path that provides a normative framework (the "natural economic system") and the need to devise concrete institutions to approximate that path (the "institutional problem"). The paper argues that addressing the "institutional problem" requires theorising the role of actions within economic structures. By doing so, it proposes an approach to institutional analysis that shows how an economy growing with structural change offers opportunities for, and imposes constraints on, the pursuit of collective objectives as well as particular objectives by social groups variously defined. It also makes it possible to address the interplay between collective and particular objectives. A key argument is that how social groups themselves represent structures and their position therein is a non-reducible factor to explain which dynamic path an economy follows out of those which a given structure makes possible. [ABSTRACT FROM AUTHOR]

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Based on economic feasibility, renewable generators can use pumped hydro storage (PHS) to improve their profitability by performing energy arbitrage under real-time pricing (RTP) schemes. In this paper, we present a new method to optimise the size of and manage utility-scale wind–PV systems using PHS with energy arbitrage under RTP. PHS is used to supply load consumption and/or energy arbitrage. Further, both load-supply and power-generating systems are considered, and a genetic algorithm metaheuristic technique is used to perform the optimisation efficiently. Irradiance, wind speed, temperature, hourly electricity price, component characteristics, and financial data are used as data, and the system is simulated in 15 min time steps during the system lifetime for each combination of components and control variables. Uncertainty is considered for the meteorological data and electricity prices. The pump and turbine efficiencies and available head and penstock losses are considered as variables (not fixed values) to obtain accurate simulations. A sample application in Spain is demonstrated by performing a sensitivity analysis of different locations, electricity prices, and costs. PHS is not worth considering with the present cost of components. In load-supply systems in Zaragoza (Spain), we found that PHS would be worth considering if its cost was lower than 850 EUR/kW (considering all PHS components except reservoirs) +20 EUR/m3 for reservoirs (equivalent to 105 EUR/kWh with a 70 m head), whereas in Gran Canaria Island (with a considerably higher irradiation and wind speed), the required PHS cost is considerably lower (~350 EUR/kW + 10 EUR/m3). For power-generating systems, PHS required costs ranging from 400–700 EUR/kW + 15–20 EUR/m3 for obtaining the optimal PV–wind–PHS system with economic results similar to those of the optimal power-generating system without PHS. Thus, the renewable–PHS system with energy arbitrage under RTP could be profitable for many locations globally given the wide range of the PHS cost; however, each case is different and must be evaluated individually. The presented model can be used for optimising the renewable–PHS system in any location with any costs and RTP schemes. [ABSTRACT FROM AUTHOR]

The Institutional Role Model (IRM) is a versatile tool used as an economic system architecture in various projects, such as the Gaia-X 4 Future Mobility lighthouse project family. This paper examines the effects of digitalization and geo-economic changes on cooperative instruments and demonstrates how the IRM can be optimized to meet these new requirements. The proposed optimizations include implementing the roles of Chief Innovation Officer, Sustainability Manager, AI Manager, and Remote Work Manager. Furthermore, a new prioritization according to Very Important Roles, Essential Roles, and Supporting Roles was integrated into the model. Furthermore, artificial intelligence was anchored in the dimensions as a complementary perspective and role-taking institution. The result is an updated matrix, offering an up-to-date and adaptable tool for managing complex environments. Based on these changes, the institutional role model can continue to create a cooperative environment in complex digital projects in the future and thus realize the added value of cooperation as a steering instrument. [ABSTRACT FROM AUTHOR]

The rapid development of e-commerce international trade has driven the rapid growth of the economic system of international trade enterprises. This also means that industry competition is gradually intensifying, which also makes performance evaluation the key to cross-border e-commerce international trade. At present, my country's research on the performance evaluation of cross-border e-commerce international trade is in a blank state. Therefore, this paper takes the international trade performance evaluation of cross-border e-commerce as the research object and, based on the deep neural network model, develops a cross-border international trade performance evaluation model, changes trade strategies, and improves trade performance. This paper first analyzes various neural network models, such as artificial neural network, "BP" neuron model, and LSTM neural network. This paper summarizes a deep neural network model that is conducive to the development of cross-border e-commerce and points out the problems in the current performance evaluation of cross-border e-commerce international trade: the e-commerce market supervision system is not perfect; the second is the inconsistent evaluation indicators; the third is the evaluation system. There are some differences with the actual. Finally, this paper puts forward relevant suggestions for the performance evaluation of cross-border e-commerce international trade and points out the advantages and disadvantages of various neural networks, as well as their roles in cross-border e-commerce performance evaluation, and compares these neural networks through experiments. Experiments show that among these neural network models, the deep neural network model is the best and has the highest accuracy and stability in e-commerce trade performance evaluation. In the later stage, we will improve the global logistics system, strengthen the application of big data technology, and improve the overall performance of global operations. First, a set of indicators is designed to evaluate the performance of e-commerce systems, using the enterprise key factor model concept. In addition, this evaluation method is different from the commonly used expert evaluation method and physical evaluation method in evaluating the construction quality, cost, education and growth ability, and performance level of the international business system of cross-border e-commerce. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the authors discuss the journal's special forum about innovative theories concerning market-based economic systems.

It is important to explore the intrinsic mechanism of green finance's role in widening the green development space for China, in order to optimize the structure of green financial development and accelerate the construction of a modernized economic system. Taking ecological environment improvement as a new research perspective, this paper presents the impacts and mechanisms of green finance on the green development space of the economy and society through the fixed-effect model and moderating-effect model, based on panel data from 30 provinces and municipalities in China from 2011 to 2020. The findings show that green finance development in China significantly expands the green development space of the economy and society, and this conclusion did not change after robustness tests such as replacing the main variables, adjusting the study interval, and considering endogeneity. In terms of its mechanism of action, ecological environment improvement plays an important mediating and regulating role in the process of green finance, essentially magnifying the green development space of the economy and society. In terms of a heterogeneity analysis, the effect of green finance on the expansion of the green development space is the largest in the eastern region, followed by the northeastern region, and the smallest in the central and western regions. In addition, the positive effect of green finance is relatively larger in regions with a higher urbanization level, government fiscal expenditure level, foreign investment level, and advanced industrial structure. The main contribution of this paper is to the field of green development, revealing the important role of the ecological benefits of green finance, which can help to achieve high-quality sustainable development in the economy and society. [ABSTRACT FROM AUTHOR]

Copyright of New Economist / Novi Ekonomist is the property of University of East Sarajevo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The world's economic and legal systems are facing a huge challenge to overcome the negative consequences imposed by recent social distortions. In 2020, what started as a health crisis quickly turned into an economicsocial problem where an express response was required to ensure the functioning of social actors. This economic-social crisis was followed in a short period by new security crises with additional consequences on national systems. The response to the newly created conditions requires a multidisciplinary approach that will include measures of a health, economic, social, and security nature, adopted on the principles of legislation and expediency within the national legal systems. These measures have their own direct or indirect tax component. The purpose of this paper is to perform a legal analysis of the tax measures taken in the national systems. The scope of the research covers the member states and candidate countries for membership in the European Union. The focus is on the more recent crisis period, with particular emphasis on the COVID-19 period. The analysis primarily focuses on the legal element of the tax measures, the procedure of their implementation, and their legal nature. Also analyzed are the challenges that they have on the taxpayers and the administrative authority for their performance. The method of comparison in the paper is used to compare the similarities and differences between the tax measures in the different national systems and to detect the legal challenges imposed by the established crisis conditions. At the end, conclusions are given about the current situation and recommendations on how the establishment of tax systems should be in the future in crisis conditions. [ABSTRACT FROM AUTHOR]

This paper highlights the key features of the Christian and Islamic Economic systems and encourages Christians and Muslims to work together to develop not only a system of Christian Economics, but also a pan-Abrahamic system of economics called Holy Book Finance. The paper outlines various methods of inter-faith collaboration to make this vision a reality. [ABSTRACT FROM AUTHOR]

This paper examines the effects of Islamic economic and social systems within a democratic environment on the causal relationships among uncertainty, informal economy, corruption, and economic growth. For this purpose, we considered a set of Middle East/North Africa MENA countries considered to be in economic difficulty and undergoing the democratic transition process (Tunisia, Algeria, Egypt, Libya, Yemen, and Iraq) for the period of 2000–2018. Our contribution is to use the social index that measures the degree of Islamicity in each country in terms of economic and political matters. We examine the effects of Islamicity and democracy on uncertainty, informal economy, corruption, and economic growth using a vector autoregression (VAR) model. Our empirical findings show that, if a theoretical Islamic system is applied in practice, it must be accompanied by a democratic regime to effectively mitigate uncertainty, informal economy, and corruption and contribute to economic growth. Democracy is a necessary component for achieving an optimal level of Islamicity. [ABSTRACT FROM AUTHOR]