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Impact of Exchange Rate Volatility on Sectoral Output in Liberia

This paper investigates the effects of exchange rate volatility on sectoral output in Liberia, focusing on agriculture, mining, and manufacturing. Using monthly time series data ranging from 2010 to 2022 and estimating the volatility in exchange rate using the ARCH model, the study found a strong sector-specific impact along with an overall economic impact on output with a significant coefficient of (-2.868) at 10%, 5% and 1% level of significance .We found that the agriculture with a coefficient of (-0.2127) and manufacturing sectors (-0.5171) proxy by value-added as % of GDP are negatively affected by exchange rate fluctuations due to their heavy reliance on imported raw material, which increases production costs and reduces output. Conversely, the mining sector, particularly gold production as measured by key output volume, shows a positive relationship with exchange rate volatility with a coefficient of (3.9677) significant at 10% level of significance, as global demand for gold rises in response to currency instability. The findings underline that policy interventions are needed to stabilize the exchange rate, particularly for agriculture and manufacturing. In fact, given the dual currency system of the country and the high level of dollarization, the country needs targeted policies to enhance sectoral resilience in its way to attain economic growth.

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Neo-sustainable Growth Theory: Study of Extended HO Model to Productive Factors’ Virtual Movements

This paper aims to fill the critical gap in the existing literature, which often treats trade and sustainability as separate fields. By combining these two dimensions, it would open avenues for new policy recommendations and strategies for promoting sustainable development in an increasingly interconnected global -economy. In terms of theoretical foundations, I link economics, technology and environmental sciences, to enrich the academic discourse and provide a comprehensive framework for future studies. This provides a unique perspective between economic growth and volatility through the lens of intergenerational and international productive factors’ virtual movements. By extending the Heckscher-Ohlin theory to incorporate virtual trade and intergenerational dynamics, the findings offer a fresh theoretical framework and empirical evidence that enrich our understanding of globalization’s mechanisms. The study’s findings on the Production Possibilities Frontier (PPF) and its implications for achieving general equilibrium contribute to ongoing debates about sustainable development and economic interdependencies. The article’s innovative approach and its comprehensive analysis offer a unique foundation to addressing real-world economic challenges. More specifically, using panel data to test the positive and negative relationships between growth and volatility and the impact of productive factors’ virtual movements, I find, the Heckscher-Ohlin theory extended to the virtual movements of factors between countries and between generations is not only empirically verified but constitutes the real foundation of sustainability. Thus, a systematic practicing of the whole set of the extended Heckscher-Ohlin theory’s full set of hypotheses as a nation’s social laws and policies or strategies, is necessarily leading to sustainable development locally and globally.

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Purchasing Still Wines: The Influence of Extrinsic Attributes

Aims: Purchasing wine in shops implies that the consumer makes a choice based on the extrinsic attributes of the product (eg packaging, bottle shape and design, labels and written information) rather than extrinsic information such the flavor or the taste of the wine. Various studies were undertaken in different countries and published that provide information regarding the extrinsic attributes that influence this choice. Focusing on studies addressing still wine purchasing in shops, this study aims to summarize the main attributes that intervene in the choice-making of wine for the geographical areas with high levels of consumption. Study Design: The study was based on bibliographic research and its analysis. Place and Duration of Study: The bibliographic research and analysis were conducted at the Laboratory for Research in Science of Agronomy & Biology (France) in November 2024. Methodology: Bibliographic research was conducted using Googlescholar with keywords including influence, purchasing wine, bottle, packaging. Articles addressing sparkling wine, organic wine, online purchase, tourist consumers, and studies focusing on specific generations were excluded. Results: A total of 23 articles were selected, covering the period from 2006 to 2024. The increase in the number of articles over time illustrates growing interest in the topic. A significant correlation was found between the number of articles per country and the importance of the wine market (r=.94). Regardless of the country considered among those selected, the main criterion in consumer choice was the price followed by the label (design and content), and then the bottle shape. Attributes such as the wine’s origin, vintage, and the food pairing - appreciated on the label - also influence the consumer choice. Important features of label design were identified. Conclusion: Despite the undeniable effect of cultural differences across countries, which may influence consumer behavior differently when purchasing wine, a common set of extrinsic attributes was identified for selecting still wines in shops in the selected countries. The information that should be emphasized on the label, along with its design features, was determined. These findings may help wine producers, sellers and marketers reduce packaging costs by focusing on key extrinsic attributes during the design process and emphasizing features important to consumer choice.

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The Virtual International Exchange of Extreme Productive Factors and Sustainability: Case Study of an Efficient Educational Vector

In this paper we investigate if The Heckscher Ohlin Model (HOM) acts as an international hero, imposing an optimal import tax on countries or generations operating within the World Technology Frontier (WTF), and an optimal export tax on countries whose Production Possibilities Frontier (PPF) is above the WTF, in order to ensure an equivalent level of satisfaction for all. Using Agent based Modelling on cross-generation and cross-country panel data I find, when HOM imposes an optimal tax, formal sector (industrialized countries or generations) productivity is at its highest, resulting in a low cost of production, and the volume of the informal sector (under-industrialized countries or generations) is at its absolute minimum, with an equilibrium informal sector output at point A on the Graph 1. Economic agents (local authorities), being rational, formalize their activities to take advantage of the low cost of production in the formal sector(industrialized countries or generations). On the other hand, when the volume of the informal sector tends to increase, and their PPF threatens to fall below the WTF, the HOM imposes an optimal export tax (deprotection) to discourage sub-industrialization. This means, the behavior of local authorities tends to bring all companies in the formal sector whose marginal cost is higher than the market prices, close their doors to enter the informal sector (under-industrialized countries), resulting in an increase in informal sector. In other terms, human capital tends to transform multidimensional trade vertically and destructively, indicating that an accumulation of resources is favorable for current generations (developed countries). Intergenerational knowledge and technology barriers (or knowledge and technology barriers between developed and developing countries) harm long-run growth. Although the accumulation of different resources (physical capital, human capital, natural resource endowments, institutional capital, and wealth distribution), generates comparative intergenerational or international trading advantages and gains, it harms global welfare in the long term. This conclusion is a high-level generalization of the Lerner symmetry theorem, which states that a country limiting imports through barriers tends to discourage exports. We therefore recommend a systematic implementation of the HO model with its basic assumptions as the only economic policies for the nation.

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Evaluating Agricultural Production Efficiency in Jiangsu and Anhui Provinces: A Three-Stage DEA and Malmquist Index Approach

This study assesses the agricultural production efficiency of Jiangsu and Anhui Provinces from 2018 to 2022, with a focus on the impact of the Yangtze River Delta Regional Integration Development Plan. Utilizing a three-stage Data Envelopment Analysis (DEA) model and the Malmquist index, the research controls for environmental factors and analyzes efficiency changes dynamically. The results indicate that Jiangsu achieved a higher rate of technological progress, with an average annual growth rate of 1.0066, which drove its overall productivity gains. In contrast, Anhui demonstrated substantial potential in scale efficiency, reflecting opportunities for future productivity improvements through optimized resource allocation. The regional integration plan appears to have played a pivotal role in advancing agricultural productivity in Jiangsu by facilitating technology-driven improvements. Findings suggest that while Jiangsu should continue to enhance its technological capabilities, Anhui could focus on harnessing its scale efficiency potential to bridge the productivity gap between the two provinces. These insights underscore the significance of regional integration policies in fostering balanced agricultural development, promoting both technological progress and scale efficiency across different regional contexts.

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Open Access
Analysis of the Influence of Perceived Enjoyment and Perceived Usefulness on Impulse Buying in Live Streaming on Online Marketplaces

Impulsive buying behavior in the digital age is rapidly evolving with the emergence of live streaming technology on e-commerce platforms. This technology enables direct real-time interaction between sellers and buyers, often triggering spontaneous purchases. Live streaming features offer an engaging shopping experience by allowing consumers to view product demonstrations and interact directly, supporting impulsive buying behavior. This study analyzes the roles of perceived enjoyment and perceived usefulness influence variables between visual appeal and social presence in influencing impulsive purchases during live streaming sessions on Shopee. Using a quantitative method, data was collected from 241 respondents through a questionnaire and analyzed using Structural Equation Modeling (SEM). The results indicate that live streaming strengthens social interaction and visual appeal, enhancing perceived enjoyment and perceived usefulness, which in turn increases the tendency for impulsive buying. This research provides insights for marketers to design effective e-commerce strategies to capitalize on the phenomenon of impulsive buying through interactive and visually appealing live streaming technology, optimizing user experience and sales conversions.

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Open Access