Economic Figures Research Articles

Формування умов для аналізу BEPS в Україні

The article reveals the problems related to the formation of conditions for analyzing the transfer of profits between countries according to the OECD indicators of Action 11 of the OECD Recommendations on preventing the Base Erosion and Profit Shifting (BEPS Action Plan) in Ukraine. It is established that the calculation of OECD indicators with data on Ukraine may be complicated due to the lack of relevant statistical information, as well as due to the establishment of the process of processing, aggregation and analysis of information from companies (including new reporting – Notification of participation in an international group of companies and transfer pricing reporting according to the “three-tier model”, which includes Сountry-by-country report). It is determined: 1) what information needed to calculate OECD indicators for BEPS analysis is already available in statistical sources and financial statements of companies; 2) what data for these purposes can be obtained by government agencies from new reporting for international groups of companies and their members in Ukraine, which will be submitted by them from 2021 and later; 3) what economic figures will not be available for BEPS analysis according to OECD indicators after the start of these new reporting forms. The necessity of forming organizational bases for collecting and processing domestic data at macroeconomic and microeconomic levels is substantiated in order to include them in global calculations of OECD indicators and use them in determining the effectiveness of BEPS countering measures in Ukraine.

The Precise Estimation of Development Project Cost and its Life Cycle

Development plays a significant role in working out national projects in the field of house-building aimed at providing high-quality and affordable housing for the population of Russia. The key indicator for the development project is its cost, which affects both affordability for the population and finance and economic figures of the developer. Therefore, the system of cost management in the development company shall be formalized on the basis of design parameters, characterizing the project cost at all stages of the life cycle. The article proposes to use four interconnected indicators, the precise estimation of the project cost is assumed to be the principle one in the research. The authors worked out the model of development project cost management with due regard to stages of its life cycle, showed key events and relevant control points to assess precision, investigated and described methods of cost estimation at certain stages of the project life cycle (PLC). On the basis of real development projects they analyzed precision of cost estimation by stages of life cycle and plotted the graph ‘precision funnel’. The general positive dynamics in precise cost estimation was discovered, however the range of indicator incoherence would not allow us to adopt universal recommendations on its appraisal. The analysis showed the necessity to improve precision of cost estimation at early stages of project life cycles, which impacts the efficiency of the development project.

Islamic Man: Deep Insights from Monzer Kahf

This paper aims to discuss how the contemporary economic figure Monzer Kahf thinks about Islamic economics. This paper provides an overview of how the discussion of Kahf's theory of an economic system that works based on Islamic teachings. The basic assumption of the theory built by Kahf is a critique of the economic man that applies to conventional economics, Kahf provides a form of thought as a substitute for this concept known as the concept of Islamic man. On that basis, Kahf developed the theory of consumption and production, the teachings of the commandment of zakat, the prohibition of usury and the idea of al-qirad as an alternative to the interest system.

Combining Legal and Economic Theory. An Interdisciplinary Approach to Dutch and Polish Family Provisions in Succession Law

Although testamentary freedom is an important principle in succession law, legislators and judges across the world have recognized the importance of certain family members by granting them mandatory claims in the inheritance of their deceased relative (in spite of wishes of the deceased). This article focuses on these rights. The goal is to introduce the Dutch framework of imperative succession law and to demonstrate the possibilities of combining the legal and economic discipline to deepen knowledge on these provisions. Whilst examples will focus upon succession law, the concepts will be described in a general manner. This might inspire researchers to apply a similar interdisciplinary approach in other fields of law. The imperative provisions that currently exist for family members in the Netherlands can be divided into two types of claims. The first is the legitime, a fixed claim for children of the deceased. The second type are the other statutory entitlements that cover a specified range of situations in which judges have freedom in deciding upon the requests of family members. However, this discretion raises many questions on the way judges should handle such claims. A combination of law and economics can aid in describing and interpreting the law, for example by defining the need for support that is often required for a successful claim. By relying on economic data and theory, judges can come to a more consistent and substantiated way of establishing the need for support. The interdisciplinary methodology can also improve comparative legal research. The functional approach that is common in comparative legal research, assumes that law fulfills certain functions. Economic figures provide an objective basis that demonstrates what functions a law fulfills and to what extent this is done efficiently. This information can be used to compare the functioning of laws in different countries.

A machine learning-based price state prediction model for agricultural commodities using external factors

In recent times of noticeable climate change the consideration of external factors, such as weather and economic key figures, becomes even more crucial for a proper valuation of derivatives written on agricultural commodities. The occurrence of remarkable price changes as a result of severe changes in these factors motivates the introduction of different price states, each describing different dynamics of the price process. In order to include external factors we propose a two-step hybrid model based on machine learning methods for clustering and classification. First, we assign price states to historical prices using K-means clustering. These price states are also assigned to the corresponding data of external factors. Second, predictions of future price states are then obtained from short-term predictions of the external factors by means of either K-nearest neighbors or random forest classification. We apply our model to real corn futures data and generate price scenarios via a Monte Carlo simulation, which we compare to Sørensen (J Futures Mark 22(5):393–426, 2002). Thereby we obtain a better approximation of the real futures prices by the simulated futures prices regarding the error measures MAE, RMSE and MAPE. From a practical point of view, these simulations can be used to support the assessment of price risks in risk management systems or as decision support regarding trading strategies under different price states.

Abstract 10153: Validation of the Cost Needed to Treat Measure

Introduction: Several innovative medications have recently demonstrated significant efficacy in preventing major adverse cardiovascular events. In many situations, payers need to understand promptly whether the novel interventions provide good value for their resources invested. Cost-effectiveness analysis (CEA) is the gold standard and cornerstone of pharmacoeconomic evaluation but requires significant resources, and is not always available at the period needed for reimbursement decisions. Therefore, we suggest using the "Cost Needed to Treat" (CNT) measure as a preliminary economic figure for comparing novel preventive therapies' value until valid CEA is available. CNT represents the extra cost of therapy needed to prevent one additional adverse event. The CNT is a product of the number needed to treat (NNT) and the cost of the therapy. A lower CNT indicates more value for money. To validate the usefulness of the CNT measure, we aimed to retrospectively compare outcomes of published CNT evaluations and the later published CEAs. Hypothesis: CNT measure and CEA result in comparable recommendations. Methods: We compared the conclusions of all published CNT evaluations with available published CEA results. Results: Seven published CNT figures, based on cardiovascular outcome trial results, were identified. Four CNTs had matched CEAs. The CNT evaluation and the CEA resulted in the same conclusions in all four cases (Figure 1). Conclusions: Outcomes of the published CNT evaluations seem to correlate with published CEA results. CNT seems to be a valuable, prompt tool for comparing novel preventive interventions' economic value.

India as a Global Power: The Strategic Culture Problems

The article reviews India’s contested role of a great power in global politics. Although showing tangible results across all the aspects pertaining to the great power status, in international relations India is still largely underestimated and even overlooked. Politicians and scholars generally mention three main reasons behind that phenomenon: weak social and economic figures, the country’s relatively narrow global impact and the absence of strategic culture. We argue that the latter is key, and that it is in the process of being remedied. In fact, India already has all the prerequisites for being recognised as a ‘great power’, since it has political, military, economic and cultural capabilities corresponding to the status. It is simply a matter of time and coordinated efforts of the government to formulate and implement a consistent foreign policy and economic strategy as well as a change in Indian elite’s strategic thinking which will enable untapping India’s existing potential and successfully meeting the objective of increasing its influence in global politics.

Income over service life cost – Estimation of individual profitability of dairy cows at time of death reveals farm-specific economic trade-offs

Managing a dairy farm requires a farm- and cow-specific assessment of the required resources and the revenues obtained from the production process. Due to scientific and practical reasons, the various types of data from a farm, e.g., economic and biologic data, commonly lack connectivity and compatibility at animal level. This means that the economic impacts associated with differences in rearing, productivity and culling as well as the economic values of cow-individual service lives often remain hidden under average figures. This work is based on a two-fold hypothesis: (1) large differences in cow profitability exist between farms but also between individual cows within one farm, and (2) knowledge about the farm-specific economic impact of service life characteristics provides new options for action. In this article, a farm-specific full-cost calculation that links routine herd management data and key economic figures gained from business sheets of the farm's dairy branch is introduced. The new methodology for the calculation of individual income over service life cost was exemplarily tested on a sample of 4,962 culled cows from 32 German dairy farms. Median income over service life cost of culled cows was negative for 19 farms (59%) and varied largely between farms (-€3,502 to €3,323). Within a given economic situation, i.e., cows of the same farm, the number of lactations was identified as the major lever to cow profitability for most farms, followed by the individual milk yield level and the number of days in milk at culling during last lactation. This indicates that the economic sustainability of the farm is inherently linked to the ability of cows to cope with their environment. The vastly different monetary value associated with, e.g., productivity and longevity parameters and the heterogeneity in the ranking of their effect sizes between farms also show that the economic impacts of herd characteristics are highly farm-specific. Evaluation of the overall lifetime profitability of culled cows along with identification of economically poor farm-specific herd characteristics can help to pinpoint problems, optimize herd management, and prioritize investment necessities.

Narrative accounting for mining in Ghana: An old defence against a new threat?

This article is concerned with aspects of how accounting and accountants figure in economics and policy issues related to mineral and fossil fuel extraction, production and use. Starting by appraising whether narrative accounting by a transnational mining corporation is attuned to the people working or living in an area affected by the mining operations, it goes on to considering how data, calculations and communications pertaining to sustainability are applied. This includes what connections the people involved perceive between accounting and sustainability. Data were obtained through qualitative fieldwork in and around the Damang Mine in Ghana, comprising interviews with employees and in the community, and analysis of documents. Corporation executives use narrative accounting to back claims that they invest hugely in sustainability, so having, in their words, a social licence to operate from host community stakeholders. This reflects accounting figuring in resource allocation choices, including in terms of how shareholder capital is managed to generate greater societal value and to operate sustainably. However, although many local people see themselves as deriving some benefit from the socio-economic activities of the mining corporation, they see accounting as not their business, being more economic than environmental or social. The inference is that accounting continues to serve purposes of management control of production, distributing value-added in favour of capital providers and managing image reflected in the notion of having a social licence to operate. Despite their belief that accounting and accountants having roles to play in sustainability, they generally cannot identify these roles. These findings imply that, if account providers are serious about being corporately responsible towards affected people, they must do more to ensure that environmental and social aspects receive enough attention to convince those people that they are truly being engaged with on equal terms, in addition to convincing a wider audience that the reports they produce are reliable and relevant to sustainability in practice.

Economic figures of agricultural enterprises expenses on berry growing

In the article the perspectives of berry growing in Ukraine are described. The most common berry crops, which provide the fastest payback from investment in them, are compared. The figures of production cost grown berry crops in regions together with the rate of profitability and production expenses on 1 hundredweight have been estimated. The economicstatistical analysis of The State Statistics Service has been extendedly done. In Ukraine as a whole, total costs are growing annually within 6%, that is, production costs have constantly increased. Direct material costs (seeds and planting materials, mineral fertilizers, fuel and lubricants, etc. costs) were the lowest in 2018, compared to 2017 — by 8% and since 2019 — by 12%. Labor costs at enterprises specializing in the cultivation of berry crops increased by 2–11% annually. Other direct expenses and general production expenses (deductions for social events, depreciation, payment for third– party services, other direct and general production expenses) increased by 3–16% annually, respectively. The highest production cost is in Vinnytsia region enterprises, while the lowest is in Poltava region. Expenses of agricultural enterprises on 1 hundredweight of berry crops were the highest in Rivne region and the lowest in Volyn and Sumy regions in 2019. The rate of profitability of berry growing was the highest in all agricultural enterprises in Mykolaiv and Ivano-Frankivsk regions, whereas the lowest, thus, unprofitable in Kirovograd, Odesa and Poltava regions in 2019; as for farming enterprises it was the highest in Odesa and Zhytomyr regions and the lowest in Sumy and Kyiv regions. The cost of berry crops is conversely linked to the rate of profitability.

COVID-19 Pandemic: Economy Transformation in Conditions of Restrictions and Uncertainty

COVID-19 pandemic drastically changed life of people all over the world. The economic situation has become unique in new history. When restrictive measures were introduced economy in the majority of countries functioned according to the temporary economic model. The article studies key economic figures characterizing the economic situation during the first wave of the pandemic, as well as changes in customer behavior of people connected with restrictive measures. The author supports the opinion of some researchers that leaders of many states should pay serious attention to the development of economy of disasters, as COVID-19 pandemic is a real disaster. In this connection the most important aspects of state policy should include: provision of the overall country security and safe life in the critical situation, the development of international public health services and information systems based on network on-line platforms, industry 4.0 and artificial intellect. Proposals were put forward aimed at designing the complex concept of economy of disasters, which shall be developed on the basis of advanced achievements in the fields linked with providing safe life of people. According to the author this concept should be ratified by heads of leading states of the world. Conclusions concerning prospects of developing global economy after COVID-19 pandemic were drawn.

The regional economy of Central Macedonia: an application of the social accounting matrix

PurposeThe economic and social problems, including high unemployment, facing the Greek economy in recent years are substantial. The role of the agri-food sector and agriculture in dealing with unemployment is a concern. To support the agricultural economy, a Common Agricultural Policy (CAP) 2007–2014 was adopted and implemented in the EU Member States. However, boosting employment, in the industry itself and indirectly in the economy, has almost never been a key goal of any policy. The purpose of this paper is to examine the role of the CAP 2014–2020 in maintaining and enhancing employment and income distribution in the region of Central Macedonia.Design/methodology/approachThe authors used the regional social accounting matrix (SAM), which examines the depiction of the interconnections between the sectors of economic activity and local economy (households, businesses, public) but also interconnections and transactions with the rest of the world. The SAM presents a more complete picture of the economic figures of the region, evaluating the interconnections of cross-sectoral relations and the implemented policies, both in the production sectors and in the regional society.FindingsFor the Central Macedonia region, the agricultural sector is a key player, holding a regulatory role for regional economic viability, and shows marked connections with the other industry branches of the region.Originality/valueThe new CAP 2014–2020 through Pillar 2–Rural Development may reinforce the new role of the industry in terms of the environment, integrated rural development and social structure of rural areas, ensuring coherence.

Techno-economic assessment of common reed and sewage sludge co-fermentation improved by vapothermal pre-treatment

This study examines whether vapothermal pre-treatment is technically feasible and brings economic advantages for a subsequent anaerobic co-fermentation of reeds together with sewage sludge. This is illustrated by the example of remote sites located close to constructed wetlands in the Persian Gulf states. Thus, eight different biogas plant configurations with an installed electric power between 75 and 450 kW, each with and without vapothermal pre-treatment, are investigated in detail related to technical and economic figures. Within the technical assessment, suitable plant components are chosen and overall plant layouts are designed and dimensioned. Furthermore, the requirements on the substrate by means of quantity, pre-treatment and storage capacities are investigated. Based on this, an economic evaluation following the annuity method is performed in order to calculate the respective electricity production costs. The results show that the thermal energy required for vapothermal pre-treatment can be obtained completely from the residual heat of the combined heat and power unit used in each case. Additionally, the specific electricity production costs can be reduced by a vapothermal pre-treatment up to 7 % related to the systems without pre-treatment. Furthermore, a comparison shows that vapothermal pre-treatment can compete with other pre-treatment methods such as steam explosion and hydrothermal pre-treatment for plants with higher installed electric capacity. In addition, it is shown that the considered cases can compete with the production of electricity using diesel as a fuel at a fuel equivalent price of 1.00 €Graphic abstract

EFFECT OF DIFFERENT SKIP FEEDING PROGRAMS ON BROILER CHICKS’ PERFORMANCE

This study was aimed to find out how the performance of feed at different age periods affect the productive of birds . A total of 240-day-old broiler chicks have been used (Ross 308), were applied. The chick’s groups were assigned to four treatments with every replicates four times and were distributed randomly into 16 groups of 15 chicks of average body weight in each pen. The research was conducted out on chicks two weeks old. T0 (control): (Feed is provided continuously and permanently for birds), T1: Skip every 1 day: (Provide the feed for one day and cut it the next day and so on until the age of 42 days), T2: Skip every 2 days: (Providing the feed for two consecutive days, cutting it the next day, and so on until the age of 42 days), and T3: Skip every 3 days: (Feed is available for three days in front of the chicks, chicks were remained without feeding the next day, and so on until the end of the study so on until the age of 42 days). No significant variations (P ≤ 0,05) were noticed between the various treatments, during the overall period (15-42) days of age in all characteristics of productive performance, while significant differences were found between the factors in the Production Index and Economic Figure. The differences between treatments are limited to the age periods (15-21), (22-28), and (29-42) days in most characteristics of productive performance.

Design Enhancement of Forced Circulation Solar Water Heater for Residential Buildings in Saudi Arabia

This study presents a proposed configuration of an innovative residential Solar Water Heater (SWH) system that will meet the hot water requirement and achieve a lower payback period in Saudi Arabia. Different SWH configurations were evaluated in terms of collector type, circulation method, heat exchanging mechanism and hot water storage. Also; the effect of SWH variable parameters on its thermal performance were determined. The variable parameters included collector tilt and orientation angles, albedo ratio, circulation flow rate, tank size, heat exchanger effectiveness and customer hot water supply temperature. The study covered five different cities, which represent different climate conditions. Proper optimization of SWH system configuration resulted in 30% reduction in the system payback period, which is about 4.3 years. Better economic figures can be expected for the installation of SWH systems in commercial and industrial sectors. Keywords: Solar water heating, System Advisor Model, SAM, Saudi Arab DOI: 10.7176/JETP/11-4-02 Publication date: July 31 st 2021

Styles of Revaluation: The Case of the Levelized Cost of Electricity

Making new nuclear investments is a challenging task. Their “value” is neither given nor stable: It is constantly being reformulated through processes of evaluation and, therefore, of valuation. The paper follows the specific uses of a standard method, the levelized cost of electricity, by different centers of calculations during a period marked by the intense scrutiny of nuclear energy policy and of the adoption of alternative nuclear fuel cycle technologies: from the George W. Bush administration through the beginning of the Barack Obama administration. Rather than concentrating on the finality of those calculations and their subsequent effects on the reordering of spent nuclear fuel as “waste” or “value,” the author develops the notion of “style of revaluation” and shows how concerned actors enacted different logics of valuation and embedded different audiences in their uses of the same calculative device. The paper characterizes two styles of revaluation related with this period. In the first style, referred to here as the “monetary figures of dissent,” a multitude of disagreements over political and moral values associated with alternative fuel cycle technologies are translated into into the language of economic expertise and monetary figures, while policy makers are designated as the audience for the calculations. In the second style, which the author refers to as the “return-on-investment,” financial investor at large is considered as the audience for the calculations, and investment is to be guided by the morality of the return-on-investment. Such assessments are critical for science and democracy. It is crucial that their designers and users, whether those are academics, practitioners, or policy makers, acknowledge and articulate moral and political values they inscribe in them.

Economic impact of banana production in Ecuador in the period 2008- 2016

The production of the agricultural sector in Ecuador has increased considerably in recent years, in this work we will learn about how the banana sector in Ecuador has directly and indirectly impacted the economy of the country in the period 2008 - 2016. This research work is carried out in order to know how important banana production is for the country and how it favored or affected the Ecuadorian Gross Domestic Product (GDP). For this, the investigation will be carried out based on economic figures based on official sites that contribute to the investigative topic on the banana production carried out in Ecuador. In this case, it will be observed how banana production influenced Ecuador and how it showed that this was positive for the country, since through new agricultural practices on this type of production they improved economic stability and increased their way of producing and marketing this product. The new agricultural practices directly benefited the country's GDP, which strengthened the types of commercialization that the market demands today for this type of product, generating better trade opportunities for the country to generate a better economic entry.

Profitability of insect farms

Despite growing interest from entrepreneurs, knowledge on the profitability of commercial-scale insect production is scarce. Insight into the economic figures of insect production is needed by farmers aiming to start insect farms, by banks seeking to provide financing, and by governments planning policy interventions. This review provides an overview of the profitability and underlying economic figures relating to the production of Hermetia illucens, Alphitobius diaperinus, Tenebrio molitor and Acheta domesticus. To enhance data interpretation, we also provide a brief overview of the global insect sector, with specific attention to farm-level operational practices. Sales prices refer to fresh larvae, dried larvae or larvae meal, whereas operational costs include costs for feed, labour, electricity, water and gas. Operational cost components differ per insect species, and therefore the relevant margins are specified for three insect species. The energy, feed, and labour margin for production of H. illucens ranges from € -798 to 15,576 per tonne of dried larvae. The feed and labour margin for production of T. molitor ranges from € 7,620 to 13,770 per tonne of fresh larvae. For production of A. domesticus the feed margin ranges from € 12,268 to 78,676 per tonne of larvae meal. The margin range for A. diaperinus cannot be estimated, due to a lack of data in the literature. The ranges mainly reflect the differences in sales prices, which are found to heavily depend on the geographical market location, type of market (feed or food) and quantity sold. Major operational costs include feed and labour, with feed costs varying substantially within and between insect species. The economic figures and margins presented in this article provide a foundation for the further development of the insect production sector.

Development of a membrane-less microfluidic thermally regenerative ammonia battery

Thermally regenerative ammonia battery is a promising approach to make use of waste heat and generate electrical energy. However, according to literature, the price of the energy obtained by this device is much higher than alternative renewable technologies (such as wind, solar, geothermal, etc.). To make the process more viable for applicative purposes, it would be necessary to reduce dramatically the cost of the membrane or to avoid it. Hence, the aim of the present work is to increase the economic figures of thermally regenerative ammonia battery avoiding the use of membranes. It was concluded that this result can be obtained by developing the process in a microfluidic flow cell with laminar flow conditions. In particular, it has been demonstrated for the first time that it is possible to obtain quite high power densities in the absence of a membrane in a micro cell. By operating the process at proper flow rates and inter-electrode distances, the membrane-less microfluidic thermally regenerative ammonia battery allowed to achieve even higher power densities than conventional TRAB operated under batch mode and similar operating conditions. In addition, it was shown that the process can be improved using copper deposited on carbon electrodes and moderate temperatures. In fact, at 50 °C a power density of 73.4 W m−2 was obtained.

Comparative technical and economic study of Hybrid Solar-Geothermal Power Plant in Ethiopia

This paper presents a techno-economic assessment of a hybrid solar-geothermal power plant that is modelled taking into account the available geothermal and solar energy resources at the Tendaho-1 (Dubti) geothermal field in Ethiopia. The hybrid power plant combines a single-flash geothermal power plant with a parabolic trough solar thermal plant to increase the energy level of geothermal steam. The geothermal fluid from one of the production wells at the geothermal site and the direct normal solar irradiance prevailing in the area offer the primary sources of energy used in the modelling. A thermodynamic analysis based on the principles of mass and energy conservation and a figure of merit analysis that allows evaluating the energy and economic performance of the hybrid power plant were performed. The technical and economic efficiency assessment was performed by comparing the performances of the hybrid power plant with a power system consisting of stand-alone geothermal and solar power plants. Results of the techno-economic assessment showed that for the same amount of energy inputs, depending on the available thermal energy storage capacity, a hybrid power plant generates up to 10.4% more electricity than a power system of two stand-alone power plants while generating a higher net present value at a lower cost of generation. In addition, the hybrid power plants with and without thermal storage system exhibit an economic figure of merit values of 2.62 and 3.42, i.e. the cost of solar resource per kWh of electricity in the hybrid energy system is reduced by 70.5% and 61.5%, respectively.