Economically Research Articles

Interpretation of Fairness Concept and Economic Impact Analysis of Carbon Quota Allocation between Industries in Indonesia

Abstract Quota allocation is critical in implementing supporting policies for carbon reduction efforts, such as the carbon cap and trade mechanism. Depending on the allocation rules, certain company types may benefit more economically. Inequality conditions can happen and reduce the willingness to participate in sustainability efforts. This study aims to propose fairness interpretations in the context of company-level carbon quota allocation. Four industries in Indonesia with inherently different emission and financial profiles were selected as case studies: energy, oil palm, basic materials, and finance. Fairness principles were analyzed to represent the interests of companies based on their financial and environmental performance. Indicators were selected to quantify the equality principles and aggregated into a Comprehensive Index (CI) for quota allocation, where the companies’ quota surplus/deficit is quantified into monetary value to estimate the economic impact with varying reduction targets. According to our analysis, the sectoral advantages/disadvantages would depend on the viewpoint of fairness principles, and the oil palm and financial sectors be less impacted than the basic materials and energy sectors with increased emission reduction targets. The sensitivity analysis suggests that the vertical, horizontal, polluter pays, and historical responsibility principles are more sensitive to weighting than the merit and basic needs principles.

Sustainable Green Irrigation: A Comparative Economic and Environment Analysis of Solar VS Micro-Hydroelectric Tube Wells

Sustainable Green Irrigation: A Comparative Economic and Environment Analysis of Solar VS Micro-Hydroelectric Tube Wells

ESG performance and cost of debt

We analyze China Securities Index Co., Ltd. (CSI) environmental, social and governance (ESG) scoring data, which incorporate Chinese characteristics, to assess the impact of ESG performance on corporate debt financing costs. Our findings indicate that better CSI ESG scores are correlated with lower debt financing costs. Additionally, improvements in local environmental execution enhance the effect of CSI ESG scores on debt financing costs. However, this effect diminishes with increased internal control quality and marketization. Governance has the greatest impact on reducing debt financing costs, followed by social and environmental factors. Superior CSI ESG scores reduce corporate debt financing costs by enhancing debt repayment capacity and reducing information asymmetry. Economic consequence analysis confirms that lower financing costs, driven by improved ESG performance, significantly enhance total factor productivity and firm value. CSI ESG scores also significantly impact bank loans but not corporate bond financing.

PLTBg investment analysis from agricultural organic waste to produce electrical energy: preliminary potential analysis study and investment in the Caringin Main Market, Bandung

Abstract Biogas is a product of the decomposition of organic matter by microbial decomposers under anaerobic conditions. Biogas consists of various gases, especially methane, carbon dioxide, hydrogen, H2S and other gases as impurities. Biogas can be converted into fuel or electrical energy. One of the potential biogas raw materials is agricultural organic waste. This article and study are based on a survey of the potential for agricultural organic waste produced by the Caringin Main Market. Bandung and the amount of organic waste production reached 84 tons/day, resulting from the trading process in the market. The waste produced by the market is suitable to be used as biogas with an organic content of more than 97.7%; the remaining 2.3% is inorganic waste. Based on the economic and financial analysis, the NPV value was 356,487,559,415.34 and the IRR was 23%, which means it was higher than the interest rate set by the bank, while the PBP value was 5.8 years, much lower set by investors for 10 years and Profitable Index of 4,2 so that this project is declared economically and financially feasible.

Economic and environmental analysis of EVs' in urban transportation using system dynamics

The higher initial cost of EVs compared to gasoline-powered vehicles can hinder their widespread adoption in various markets. This study aims to evaluate the factors influencing EV adoption or rejection in a developing nation by examining the economic and environmental implications of integrating EVs into Tehran's transportation system. Using a system dynamics approach, the research incorporated a range of elements, including private and public transport, fuel consumption, and environmental costs. Based on this model, causal loop and stock-flow diagrams were developed. Model simulation was conducted, and its validity was carefully controlled. Different scenarios were then generated for incorporating EVs into Tehran's transportation system. The simulations demonstrated that integrating EVs into the taxi fleet is economically advantageous as it offsets the annual purchase and charging station expenses. This scenario led to a 0.2 % decrease in urban costs. Conversely, introducing EVs for private transportation resulted in a 1.9 % increase in overall transportation system costs. Therefore, for cities like Tehran, prioritizing EV adoption in the taxi fleet is a more favorable strategy to balance economic and environmental benefits. This model provides valuable insights for developing countries considering EV adoption, highlighting the economic and environmental ramifications across various sectors.

Thermodynamic analysis of a modified two-stage transcritical CO2 refrigeration cycle with an ejector and a subcooler

In the application scope of large-scale supermarkets, the practicality of transcritical CO2 refrigeration device has been confirmed to be quite satisfying. A modified two-stage transcritical CO2 refrigeration cycle with an ejector and a subcooler (MTC) is proposed in this paper. In the modified cycle, the ejector recovers expansion works and reduces irreversible losses in the throttling process. The subcooler provides subcooling degree for the CO2 entering the low-temperature (LT) evaporator, thus increasing the refrigeration capacity and improving the COP of the modified cycle. Thermodynamic analysis has shown that the exergy efficiency (ηex) and COP of MTC under given operating condition has been enhanced by 13.7% and 14.2% compared to BTC. The discharge temperature at the outlet of high-pressure compressor in MTC is decreased by 8.3℃. Under typical operating condition, the optimal discharge pressure of MTC is 9.07 MPa, which is lower than that of BTC. The correlation to calculate optimal discharge pressure for single-stage CO2 refrigeration cycle is also suitable for MTC under given operating conditions. The MTC has also shown better performance under variable operating conditions. For MTC, when the temperature at the outlet of gas cooler increases from 35 to 45℃, the COP and ηex are enhanced by 14.1% - 16.1% and 12.8% - 14.2% compared to BTC, respectively. When gas cooler outlet pressure decreases from 11.0 to 7.5MPa, the COP and ηex are enhanced by 14.0% - 22.8% and 13.4% - 18.7%. As the evaporating temperature at the cold side of subcooler increases from -25 to -15℃, the COP and ηex increase from 1.82 to 1.98 and 27.4% to 29.7%. With the ratio of refrigeration capacity (Rec) between medium-temperature evaporator and low-temperature evaporator varies from 0.7 to 1.2, the COP and ηex are improved by 10.7% - 16.3% and 10.7% - 15.4% compared to BTC. There is the maximum exergy loss at gas cooler in the MTC, whereas that of BTC is located in the expansion valve before LT evaporator. The economic analysis shows the cost per unit of exergy of MTC is decreased by 11.5% under typical operation condition. According to simulation results, the modified cycle has better performance in severe working conditions such as high gas cooler outlet temperature and low gas cooler outlet pressure in the given range of working conditions compared to BTC.

Assessing PEM fuel cell performance in a geothermal Cogeneration system for peak-time energy storage

In this investigation, a novel geothermal power plant was designed, combining absorption chiller units, PEMFC, EPEM, and ORC. We conducted a comprehensive case study across four continents—Asia, Oceania, Europe, and America—leveraging weather data from various cities to evaluate the system's efficacy. Our modeling utilized EES (Engineering Equation Solver) software, optimizing the setup via the RSM with three key objective functions: exergy efficiency, hydrogen production, and cost rate. The primary focus was on delivering electricity to residential properties during peak demand periods. Exploring six scenarios for organic fluids in organic Rankine cycles, we gauged energy, exergy, and overall system performance. The TOPSIS method led us to select scenario 3, employing R123 and R134a refrigerants, as the optimal choice. The results of the optimization showcased impressive figures: an exergy efficiency of 81.816%, a hydrogen production rate of 25.119 kg/h, and a cost rate of 15.967 $/h for the system's most efficient configuration. Economic analysis highlighted the organic Rankine cycle units 1 and 2 as the components with the highest costs. Our evaluation extended to various cities—Aomori, Grosseto, Lhasa, Wellington, and San Diego—assessing the electricity, heating, and cooling needs of residential complexes based on the system's performance.

Determination of soil organic carbon by conventional and spectral methods, including assessment of the use of biostimulants, N-fertilisers, and economic benefits

Soil organic carbon (SOC) is a very important indicator of soil quality, where even small changes can have large effects on the global carbon cycle, climate change, soil fertility and plant growth conditions. The aims of this study were to investigate changes in soil SOC using two types of biostimulants, to confirm the quality of different SOC determination methods, and to estimate fertiliser requirements and winter crop income and costs. Two methods were used to determine the concentration of SOC: the first was conventional sampling of two soil layers and laboratory analysis. The second method measured SOC using a mounted proximal soil sensor with an integrated visible and near-infrared (VIS-NIR) spectroscopic system. Experimental studies were carried out in three scenarios, of which SC1 used a biostimulant consisting of two components: one for soil (humus) and one for plants (leaf-special), SC2 used a biostimulant consisting of many bacterial species and SC3 was a control without biostimulant. The results of the 3-year experimental studies showed that the use of VIS-NIR spectroscopy in the field allows the prediction of soil SOC concentrations with sufficient accuracy. The coefficient of determination R2 ranged from 0.819 to 0.959 compared to the conventional laboratory SOC test. In the SC1 and SC2 scenarios with biostimulants, R2 was higher than in the SC3 control. The use of biostimulants significantly increased the yield of winter wheat and winter oilseed rape and reduced the need for nitrogen fertiliser per tonne of grain yield for both winter wheat (23.0–37.3%) and winter oilseed rape (6.3–32.1%). The economic analysis showed that the application of biostimulants increased the relative profit in all years from EUR 54 ha-1 (for winter oilseed rape) to EUR 143 ha-1 (for winter wheat) compared to the control scenario.

Political economy analysis of health: a scoping review protocol.

The objective of this scoping review is to identify and map the literature on concepts, definitions, frameworks, outcomes, and applications of political economic analysis of health. The political economy of health approach seeks to understand how political and economic domains interact and shape individual and population health outcomes. A political economic analysis can provide insights into health problems and inequalities; however, there needs to be more clarity on how the political economy framework is defined and the methods adopted for conducting political economy analysis concerning health. Studies focusing on the political economy analysis addressing specific health problems will be included. The study population is not limited to any sociodemographic characteristics, and there will be no restrictions on language or the source of evidence (primary studies or secondary data studies). Both qualitative and quantitative methodologies will included, but narrative and systematic reviews will be excluded, as will conference abstracts and editorials. Studies involving sector- or country-level analysis will be included. The review will follow the JBI methodology for scoping reviews. Databases to be searched include MEDLINE, Scopus, Web of Science, Cochrane CENTRAL, CINAHL, Embase, ProQuest, DynaMed, and gray literature via Google Scholar and OAIster. Two reviewers will perform study screening and data extraction using a customized data extraction form. The concepts, definitions, frameworks, outcomes, and applications of the political economy of health will be summarized and discussed. The health problems addressed using political economy analysis will be enumerated. Stakeholder engagement will guide all steps of the study. Results will be presented in tabular and graphical formats accompanied by a narrative summary. Open Science Framework https://osf.io/4qaxr/.

Evaluation of green and blue hydrogen production potential in Saudi Arabia

The Kingdom of Saudi Arabia has rich renewable energy resources, specifically wind and solar in addition to geothermal beside massive natural gas reserves. This paper investigates the potential of both green and blue hydrogen production for five selected cities in Saudi Arabia. To accomplish the said objective, a techno-economic model is formulated. Four renewable energy scenarios are evaluated for a total of 1.9 GW installed capacity to reveal the best scenario of Green Hydrogen Production (GHP) in each city. Also, Blue Hydrogen Production (BHP) is investigated for three cases of Steam Methane Reforming (SMR) with different percentages of carbon capture. The economic analysis for both GHP and BHP is performed by calculating the Levelized Cost of Hydrogen (LCOH) and cash flow. The LCOH for GHP range for all cities ($3.27/kg–$12.17/kg)) with the lowest LCOH is found for NEOM city (50% PV and 50% wind) ($3.27/kg). LCOH for BHP are $0.534/kg, $0.647/kg, and $0.897/kg for SMR wo CCS/U, SMR 55% CCS/U, and SMR 90% CCS/U respectively.

Long‐term comparison of targeted soil test values and crop removal as a phosphorus fertilization strategy in corn

AbstractFinding effective phosphorus (P) recommendation strategies to optimize corn (Zea mays L.) yield under varying yield levels and environmental conditions is continuously sought after. A 16‐year study was conducted in Concord, NE, on Nora silt loam soil initially measuring 16 ± 3 mg kg−1 Bray‐1 P. The study evaluated the impact of different P fertilization strategies on corn yield across various growing conditions (dry, normal, and wet years). Treatments included no P or N (NPNN), no P (NP), P applied at crop removal phosphorus (CRP), and maintaining soil P at 15 (B15), 30 (B30), and 45 (B45) mg kg−1 Bray‐1 P, with similar nitrogen (N) rates except for NPNN. Results showed a 25% and 33% reduction in soil test phosphorus (STP) for NPNN and NP treatments, respectively. The total P required by B30 and B45 treatments was 1.8 times more than that for CRP and B15. Although B30 and B45 treatments increased corn grain P concentration by 6%–12% compared to B15 and CRP, they did not increase yields in normal and dry years. The NP led to yield reductions of 9% and 12% in normal and wet years, respectively. In contrast, CRP achieved an 8% higher yield than B15 during wet years. Economic analysis revealed that B45 yielded a 56% higher net return in normal years, while CRP offered the highest return on investment (ROI) at 4.9. This study highlights the complexity of managing soil P under varying environmental conditions, emphasizing that while maintaining higher STP levels (B30 and B45) can enhance grain P concentration, it does not significantly boost yield and ROI compared to CRP and B15.

Economic analysis of oilseed processing units in Nagpur district

Economic analysis of oilseed processing units in Nagpur district

Fitting spatial stochastic frontier models in Stata

In this article, we introduce a new command, xtsfsp, for fitting spatial stochastic frontier models in Stata. Over the last decades, stochastic frontier models have seen important theoretical progress via the incorporation of various types of spatial components. Models that can account for spatial dependence and spillovers have been developed for efficiency and productivity analysis, drawing extensive attention from industry and academia. Because of the unavailability of the statistical packages, the empirical applications of the new stochastic frontier models appear to be lagging. The xtsfsp command provides a procedure for fitting spatial stochastic frontier models in the style of Orea and Álvarez (2019, Journal of Econometrics 213: 556-577) and Galli (2023, Spatial Economic Analysis 18: 239-258), enabling users to handle different sources of spatial dependence. In this article, we introduce spatial stochastic frontier models, describing the syntax and options of the new command and providing several examples to illustrate its usage.

Economic analysis of Tendu patta collection in Nagpur district

Economic analysis of Tendu patta collection in Nagpur district

Scoping Review of Economic Analyses of Rare Kidney Diseases

IntroductionRare kidney diseases (RKD) place a substantial economic burden on patients and health systems, the extent of which is unknown and may be systematically underestimated by health economic techniques. We aimed to investigate the economic burden and cost-effectiveness evidence base for RKD. MethodsWe conducted a systematic scoping review to identify economic evaluations, health technology assessments and cost-of-illness studies relating to RKD published since 2012. Results161 published studies, including 66 cost of illness studies, 95 economic evaluations and 72 grey literature reports were included. Most published literature originated from high-income nations, particularly the USA (81 studies), and focused on a handful of diseases, notably renal cell carcinomas (70) and systemic lupus erythematosus (36). Limited evidence was identified from lower-income settings and there were few studies of genetic conditions, which make up most RKD. Some studies demonstrated the cost-effectiveness of existing treatments, however, there were limited considerations of broader economic impacts on patients that may be important to those with RKD. Included health technology assessments highlighted difficulties in obtaining high-quality clinical evidence for treatments in very small patient populations, and often considered equity issues and other patient impacts qualitatively alongside clinical and economic evidence in their recommendations. ConclusionsWe found large gaps in the economic evidence base for RKD and limited adaption of methods to account for the uniqueness of these diseases. There may be significant scope for innovation in building an investment case for RKD treatments, as well as in decision-making processes to inform investment decisions.

Techno economic analysis of PV pumping system for rural village in East Java

Renewable energy systems offer a sustainable alternative for addressing energy needs, especially in rural settings. This study investigates the optimization of a hybrid photovoltaic (PV) pumping system by minimizing the Cost of Energy (COE), maximizing the Renewable Fraction (RF), and reducing Carbon Dioxide Emissions (ECO₂). The optimization process was carried out using Python to implement the Queen Honeybee Migration (QHBM) algorithm, which evaluated three distinct scenarios to determine the most efficient system configuration. The optimal setup comprised 48 units of 600 Wp PV panels, 17 units of 250 Ah batteries, and 3 units of 8,000 W inverters. This configuration achieved a COE of $0.041 per kWh, an RF of 43.96 %, and an ECO₂ reduction of 118.49 kgCO₂e, with a cumulative objective value of -146.76. A comparative analysis with the Particle Swarm Optimization (PSO) algorithm indicated that QHBM excels in optimizing RF and ECO₂, whereas PSO demonstrates marginally superior performance in reducing COE. The economic evaluation reveals a Net Present Value (NPV) of $40,206.11 over a 35-year period, a Return on Investment (ROI) of 398 %, a Break-Even Point (BEP) of 6.45 years, and a Payback Period (PP) of 13.25 years. The system is projected to yield daily and annual cost savings of $6.33 and $2,310.90, respectively. These results underscore the efficacy of QHBM in achieving superior techno-economic and environmental performance in hybrid PV pumping systems.

Clinical decision-making process and distributive justice: The mediating role of economic analysis. Empirical evidence from Italy.

The COVID-19 pandemic has not only tested the resilience of public health systems but also underscored the criticality of allocative choices on health resources. These choices, however, are not confined to health emergencies but are integral to public health decisions, which inherently grapple with limited resources. In this context, physicians play a pivotal role as the architects of clinical actions in various scenarios. Therefore, doctors are called upon to make their decisions by considering not only the criteria of clinical appropriateness but also the ethical aspects linked, in particular, to the principle of justice. Indeed, the assessment of the effectiveness of a treatment for a particular patient must be balanced against criteria of equity and justice for the whole. To be fully applied, the principle of justice presupposes the use of economic evaluation techniques designed to drive the organisation decisions by effectiveness and efficiency. The present paper aims to empirically analyse whether and to what extent economic evaluation is known and used by doctors in healthcare decision-making and, therefore, what the most widespread approaches are used in such processes. In particular, this paper intends to present the results of an empirical study on a sample of doctors registered with the Order of Physicians in Lombardy (Italy), one of the areas most affected by the COVID-19 pandemic. The research reveals a particular awareness of the criticality of allocation issues accompanied by a lack of knowledge of the economic evaluation techniques or, more broadly, by an almost total disuse of financial criteria. The main reasons are doctors' need for more knowledge of these tools and insufficient availability of economic information at the country system level. In the conclusion, we propose some suggestions to facilitate the transition to more current decision-making models consistent with the characteristics of more advanced national healthcare contexts.

Economic analysis of custom hiring centres in Vijayapur district: Viability & impact

Economic analysis of custom hiring centres in Vijayapur district: Viability & impact

An investigation of the mechanical strength, environmental impact and economic analysis of nano alkali-activated composite

The current study explores both the mechanical strength and life cycle assessments of fly ash (FA)-based alkali-activated concrete (AAC) with/without colloidal nano-silica (NS) addition at high and low molar concentrations of sodium hydroxide in the activator fluid (12 M and 3 M). The cradle-to-gate approach is used to establish the system boundaries for life cycle assessments (LCA). The environmental impact of AAC (with/without NS) and conventional cement concrete (CC) mixtures was determined using the ReCiPe midpoint and endpoint approaches across various impact categories. The AAC mixes with and without NS addition reduce greenhouse gas (GHG) emissions by 30 % and 25 % with respect to CC mix, respectively. Within the majority of impact categories, sodium silicate and sodium hydroxide production are the primary contributors, accounting for up to 91 %. However, in water depletion, global warming potential, and fuel depletion, the overall contribution is as high as 65 %. Also, the AAC mix with and without NS addition consumes 34 % and 14 % less electricity during its production with respect to the CC mixture. The CC mixes have almost 70 % more ecological damage and approximately 30 % more health risk than AAC with and without NS. However, the NS-modified AAC shows 20 % lower ecological and health risks than AAC without NS. The effect of resource scarcity on NS modified AAC is 50 % less than that of other mixes, including both AAC mix without NS and CC mix. In comparison to AAC without NS, the NS modified AAC demonstrates an 18 % reduced impact on resource scarcity. Finally, cost analysis demonstrates that AAC with NS is 16 % less expensive than CC, while AAC without NS is 26 % cheaper than CC. AAC containing 6 % NS inclusions exhibits environmental and economic benefits in addition to its enhanced mechanical performance, indicating its potential for widespread practical usage.

A cost-effectiveness analysis of intraosseous basivertebral nerve ablation for the treatment of chronic low back pain

BACKGROUND CONTEXT: Randomized trials have demonstrated the superiority of intraosseous basivertebral nerve ablation (BVNA) compared with sham and standard care in terms of improvements in pain, disability, and health-related quality of life in patients with vertebrogenic chronic low back pain (cLBP). PURPOSE: To assess the cost effectiveness of BVNA in patients with vertebrogenic cLBP compared to standard care alone. STUDY DESIGN/SETTINGA model-based economic analysis. PATIENT SAMPLEBase case analysis used INTRACEPT, a randomized trial comparing BVNA with standard care in 140 patients with vertebrogenic cLBP, recruited from 23 sites across the United States, with a follow-up, up to 5 years. Scenario analyses compared data from the Surgical Multi-center Assessment of Radiofrequency Ablation for the Treatment of Vertebrogenic Back Pain (SMART) randomized trial against a sham control, and a single-arm study. OUTCOME MEASURESCosts and quality-adjusted life years (QALYs) were calculated to determine the incremental cost-effectiveness ratio (ICER). METHODS: A cost-effectiveness model was built in Microsoft Excel® to evaluate the costs and health outcomes of patients undergoing BVNA using the Intracept Procedure (Relievant Medsystems) to treat vertebrogenic cLBP from a US payor perspective. Alternative scenario sensitivity analyses and probabilistic sensitivity analyses were conducted to assess the robustness of the model results. QALYs were discounted at 3.0% per year. RESULTS: Base case analysis showed that BVNA relative to standard care alone was a cost-effective strategy for the management of patients with vertebrogenic cLBP, with an ICER of US$11,376 per QALY at a 5-year time horizon from introduction of the procedure. Modeling demonstrated a >99% probability that this was cost effective in the US, based on a willingness-to-pay threshold of US$100,000 to US$150,000. Various sensitivity and scenario analyses produced ICERs that all remained below this threshold. CONCLUSIONS: BVNA with the Intracept Procedure offers patients with vertebrogenic cLBP, clinicians, and healthcare systems a cost-effective treatment compared to standard care alone.