Economic Investment Research Articles

Implementation of the power generation program by the Asian Infrastructure Investment Bank (AIIB) to improve the economy in Bangladesh

This article examines the effectiveness of programs carried out by the Asian Infrastructure Investment Bank (AIIB) in encouraging economic investment and infrastructure connectivity in Asia. Specifically, the author will analyze AIIB assistance in Bangladesh in the electrical energy sector. AIIB is a multinational development bank initiated by China to encourage infrastructure in Asia. In terms of long-term funding for infrastructure sub-projects such as sub-projects in the areas of power production, ICT, cross-regional transportation, etc., AIIB has emerged as one of the most important development partners for Bangladesh. This paper aims to answer how effective the implementation of the electricity sector program by AIIB is in improving the economy in Bangladesh. To examine this topic, the author refers to Development theory and the concept of Global Governance. The results of the author's analysis show that most of the assistance provided by AIIB in Bangladesh focuses on the electrical energy sector, this is a response to the electricity crisis which is hampering the Bangladesh economy. The results of implementing the program are considered quite effective because it succeeded in distributing electricity evenly in villages and encouraging development renewable and low-carbon electrical energy infrastructure. However, this program can also be considered less effective because it has not been able to encourage Bangladesh to maximize its own natural resources to guarantee its electricity supply due to the low share of the renewable energy market in Bangladesh's electricity.

Peer review of GPT-4 technical report and systems card.

The study provides a comprehensive review of OpenAI's Generative Pre-trained Transformer 4 (GPT-4) technical report, with an emphasis on applications in high-risk settings like healthcare. A diverse team, including experts in artificial intelligence (AI), natural language processing, public health, law, policy, social science, healthcare research, and bioethics, analyzed the report against established peer review guidelines. The GPT-4 report shows a significant commitment to transparent AI research, particularly in creating a systems card for risk assessment and mitigation. However, it reveals limitations such as restricted access to training data, inadequate confidence and uncertainty estimations, and concerns over privacy and intellectual property rights. Key strengths identified include the considerable time and economic investment in transparent AI research and the creation of a comprehensive systems card. On the other hand, the lack of clarity in training processes and data raises concerns about encoded biases and interests in GPT-4. The report also lacks confidence and uncertainty estimations, crucial in high-risk areas like healthcare, and fails to address potential privacy and intellectual property issues. Furthermore, this study emphasizes the need for diverse, global involvement in developing and evaluating large language models (LLMs) to ensure broad societal benefits and mitigate risks. The paper presents recommendations such as improving data transparency, developing accountability frameworks, establishing confidence standards for LLM outputs in high-risk settings, and enhancing industry research review processes. It concludes that while GPT-4's report is a step towards open discussions on LLMs, more extensive interdisciplinary reviews are essential for addressing bias, harm, and risk concerns, especially in high-risk domains. The review aims to expand the understanding of LLMs in general and highlights the need for new reflection forms on how LLMs are reviewed, the data required for effective evaluation, and addressing critical issues like bias and risk.

Unbundling of Transmission System Operators – The general European Union Policy and the Case in Georgia

Georgian Transmission System Operator has been certified and nominated as the sole transmission licensee in Georgia upon the specific conditions. Therefore, with the fulfillment of all criteria, the main objective of ownership unbundling (prevention of discrimination, optimization of the use of infrastructure, incentivizing economic investment) can be reached. However, in case of non-compliance with the unbundling ownership requirements and, thus, re-certification of Georgian TSO, the Government of Georgia shall consider the costs of such procedure for the country and, precisely, the state-owned company. Therefore, the responsible public entities shall work with the Regulatory Commission and the Transmission System Operator to ensure timely and proper planning and implementation of necessary activities to meet unbundling ownership requirements.

Harnessing the Sun: revolutionizing the industrial sector with solar-powered roofs

ABSTRACT The industrial sector is one of the main energy consumers in the developed world, accounting in the case of Europe for over 20% of the total consumed energy. Especially in countries of high solar potential, like the case of southern Europe, industrial roofs offer an alternative for the production of green energy, with the use of photovoltaic (PV) technology, considered to be one of the most mature applications at this time point. This work examines the capacity of industrial roofs to meet part of the energy needs of the industrial sector with PV installations. Specifically, in the context of this work, GIS techniques were utilized to quantify the total solar potential of industrial roofs, as well as their capacity for energy production. Technical, environmental, and economic indicators related to the processing of the findings of the work, as well as the definition of a policy framework, are extracted and discussed. The object of the work was the energy system of a southern island state of the European Union, the Republic of Cyprus, where all the conditions for a favorable framework for the promotion of industrial solar roofs are met. The study reveals that photovoltaic (PV) installations on Cyprus’s industrial roofs have the potential to generate 443.2 GWh annually, meeting 19% of the industrial sector’s energy needs, and reducing CO2 emissions by over 250 k tons per year, highlighting a substantial opportunity for decarbonization and economic investment in renewable energy. This study aspires to provide food for thought, for future work that will be implemented in this context, enabling the establishment of industrial roofs as a potential contributor to policies for adapting to the energy requirements of the era. The novelty of this research lies in its utilization of GIS techniques to quantify the solar potential and energy production capacity of industrial roofs, specifically in the context of the Republic of Cyprus, thereby contributing to the development of a policy framework for leveraging industrial solar roofs in energy strategies.

Do high house prices promote the development of China's real economy? Empirical evidence based on the decomposition of real estate price.

Moderate rising of house prices are beneficial to the economic development. However, over high house prices worsen the economic distortions and thus hinder the development of the real economy. We use the stochastic frontier models to calculate the fundamental value in the housing in Chinese large and medium cities, and then obtain indexes which could measure the house prices' deviations from the fundamental value. With the macroeconomic data in the city-level, this paper empirically investigates the effects of the house prices' deviations on macro-economic variables like consumption, investment and output. The study reveals that the housing bubble exists in most Chinese cities, and first-tier cities fare the worst. House prices over the fundamental value, which could increase the scale of real estate investment, bring adverse impacts on GDP, as it causes declining civilian consumption and discourages real economy's investment and production. The encouragement and the discouragement on macroeconomy caused by house prices' deviation from its basic value take turns to play a key role in the process of China' eco-nomic growth. In the early stage of China's economic growth, the encouragement effect predominates. As urbanization and industrialization gradually upgrade to a higher level, the discouragement effect takes charge.

Corpus-Based Diachronic Analysis on the Representations of China’s Poverty Alleviation in People’s Daily

Abstract Poverty, as a global issue, challenges the sustainable development of the world. In the past 40 years, China has made great achievements in poverty alleviation which arouses the media interest across the world. This article examines how People’s Daily reported China’s poverty alleviation from the beginning of China’s reform and opening up in 1978–2020, particularly with regard to the interaction between discourse and social practice. Through corpus-based discourse analysis, it has found that, first, the number of the reports changed with the process of poverty alleviation and the national policies. Second, it has shown differences in lexical choices in different periods, with an overall shift from the agricultural reform and economic investment to education, culture and ecology poverty alleviation; third, China’s involvement in the world’s poverty alleviation causes changed from initially seeking help to gradually becoming a leading voice calling for cooperation and offering aid for other countries. The findings reveal that there is a strong correlation between the discourse and social change: the social context is echoed in the discourse features in different periods; meanwhile, news discourse also plays a positive role in publicizing the Chinese government’s achievements and promoting the process of poverty alleviation.

How Zakat Responds to the Global Recession? An Implementation From Indonesia’s National Zakat Regency (BAZNAS)

The global recession is an economic phenomenon that can have a significant negative impact on various sectors of life, especially for more vulnerable people. In this context, this study aims to examine the role of Zakat in overcoming the impact of the global recession. Research Methods: This study uses a literature review approach by analyzing related documents. The data obtained is analyzed thematically to identify various mechanisms and strategies that can be used by Zakat in overcoming the impact of the global recession. Finding/Results: The results of the study show that zakat has great potential in making a significant contribution to overcoming the impact of the global recession. The role of zakat can be seen from several aspects, including Redistribution of Wealth, Economic Empowerment, and Improved Social Welfare. Conclusion: The findings of this study indicate that zakat can play a role in minimizing the impact of the global recession. This study is limited to the portrait of zakat management by the government, which is reflected in innovative zakat utilization programs but has not looked specifically at the direct benefits of zakat in improving the standard of living of the economy, one of which is through saving activities. In line with this, further research is needed on the integration of zakat in increasing economic activity and investment.

Growth, fiscal and welfare implications of trade liberalization in Africa: A macro‐micro modeling assessment of the Senegalese economy

AbstractThe African Continental Free Trade Area (AfCFTA) has been hailed as a key pillar and catalyst for economic growth, industrialization, and sustainable development in Africa. One of the anticipated benefits is the promise to increase intra‐African trade through the elimination of import duties and other tariffs among countries. However, due to the heterogeneity between the African countries, questions remain as to whether each country will benefit from tariff elimination. This paper aims to evaluate the macroeconomic, fiscal, and welfare consequences of import tax removal in Senegal with the rest of Africa. We link an extended version of the partnership for economic policy (PEP) static computable general equilibrium (CGE) model with a non‐parametric microsimulation approach. We calibrate the model with Senegal's most recent Social Accounting Matrix. The microeconomic model is calibrated using the latest Senegalese household consumption survey. The findings indicate that tariff removal from the rest of Africa has favorable economic, fiscal, and welfare impacts for Senegal. The paper suggests that it will lead to an increase in economic growth and investment. The removal of tariffs is expected to favor urban households over rural ones and leads to a modest decrease in income inequality, accompanied by a 3.36% reduction in the number of poor.

KONSEP TABUNGAN DAN INVESTASI

This research aims to investigate the relationship between savings and investment theory in the concept of economic growth. Savings and investment theory are two main elements in macroeconomi analysis that play an important role in determining the level of economic growth of a country. This research explores the impact of the interaction between savings and investment levels on economie growth. In both conventional and Islamic economic contexts, savings and investments are importan inancial instruments in managing personal finances, supporting economic growth, and achieving the inancial goals of individuals and society as a whole. However, in Islamic economics, both must comply with Sharia principles to create economic justice and religious obedience. reserves of funds that can be used for future consumption or investment. Meanwhile, in Islamic economics, sharia-based savings must comply with sharia principles which prohibit usury and transactions involving haram elements. The goals of savings in Islam include sharia compliance, financial security, and distribution of wealth to the needy.

A novel data-driven triangular-type staircase layout design in personnel safety evacuation in high-rise buildings

When an accident or crisis occurs in a high-rise building, evacuation by stairs is the most recognized safe evacuation method, where the design of stair layouts greatly impacts the economy and safety of high-rise buildings. Therefore, an economical and reasonable staircase layout design is especially important. Most previous studies tend to reduce the number of evacuation routes due to economic considerations alone, which is an unreasonable unilateral consideration. In this sense, a reasonable staircase layout should consider economic and evacuation efficiency. To address this issue, this study proposes a new evacuation time calculation model, which is then combined with an economic model to develop a bi-objective optimization model. After that, a set of solutions that achieve different trade-offs between economy and safety are obtained, allowing for a staircase arrangement that meets safety requirements while minimizing economic investment. Finally, the feasibility of the proposed model is verified by a real case study, where the Pareto front surface is obtained to facilitate decision-making for stakeholders with different risk preferences. The numerical results also allow decision-makers to make informed decisions considering both economics and safety in stairway settings.

Taksonomijos reglamento įtaka aplinkosauginiams mokesčiams Lietuvoje

From being an object of scientific discussions climate change has found its way to our everyday lives. It has become an inevitable driver for political decisions. On December 11, 2019 the European Union presented its Green Deal, an action plan to attain sustainable development goals as adopted by the UN General Assembly on September 25, 2015, and in the Paris climate agreement. The EU seeks to become climate-neutral by 2050. A core element of the Green Deal is a system for sustainable finance for climate-friendly economic activities. A common vocabulary is needed in order to eveluate the scope of such economic activities, to balance the input of private and public bodies, and to ensure a fair competition for the investments. Such a vocabulary, also known as Taxonomy, is presented by the Regulation (EU) 2020/852 of the European Parliament and of the Council. It introduces labels and criteria that allow to identify and compare economic activities in the light of sustainability. Eventhough the Taxonomy regulation is a legal act of direct application, it manages to introduce norms into the laws passed by the Lithuanian Parliament. The duty to disclose information on the environmental sustainability of economic activities and investment products comes into force in 2023. Seeking to transform the markets, tax cuts are introduced for economic activities that are in line with the environmental goals. This article unfolds the concept of Taxonomy as well as its impact on investment and tax legislation in Lithuania.

A Qualitative Analysis of Barriers to Accessing HIV Prevention Services During an HIV Outbreak among Persons who Inject Drugs in West Virginia.

In response to an increase in HIV diagnoses among persons who inject drugs (PWID) in Kanawha County, West Virginia, West Virginia Bureau for Public Health and CDC conducted a qualitative assessment in Kanawha County to inform HIV outbreak response activities. Interviews with 26 PWID and 45 community partners were completed. Transcribed interviews were analyzed to identify barriers to accessing HIV prevention services among PWID using the risk environment framework. Participants identified numerous political, physical, social, and economic community-level barriers that influenced access to HIV prevention services among PWID. Political factors included low community support for syringe services programs (SSPs); physical factors included low SSP coverage, low coverage of HIV testing outreach events, low HIV preexposure prophylaxis availability, and homelessness; social factors included stigma and discrimination; economic factors included community beliefs that SSPs negatively affect economic investments and limited resources for HIV screening in clinical settings. Individual-level barriers included co-occurring acute medical conditions and mental illness. Community-level interventions, such as low-barrier one-stop shop models, are needed to increase access to sterile syringes through comprehensive harm reduction services.

Развитие экономических отношений Великобритании и ЮАС(Р) в конце 40-х – начале 60-х годов XX века

Introduction. The article analyzes a retrospective of the economic relations between Great Britain the Union of South Africa (since 1961 the Republic of South Africa) taking into account their socio-economic and politic development. The historical preconditions for the formation of political and socio-demographic conditions affecting the nature and direction of economic relations between the countries were investigated. The article shows the strength of the position of Britain in the South African Union. It was largely determined by the presence of large British-born white settler communities, which had a significant impact on economic, investment and financial policies of the country. The author comes to the conclusion about the status of the South Africa as one of the largest «global storage» of mineral and strategic raw materials. The presence and specificity of elements of the resource potential of the Union of South Africa, that are most significant for investments of British capital, have been revealed. The mutual interest of the United Kingdom (strengthening the position of the British capital) and South Africa (growth of the volumes and concentration of investments primarily in the mining and gold mining industry) in the development of economic relationshas been substantiated. Materials and Methods. The main sources of the article were materials from economic reviews, statistical reference books and analytical information about activities of British companies investing in the economy of the South Africa. The article uses general scientific methods – analysis, comparison, and special methods – problem-chronological and historical-comparative. Analysis. The article assesses the main directions, absolute volumes and profitability of British investments in the South African economy using the example of large corporations. The downward trend in the positions of the United Kingdom was tracked as the penetration of US capital into the economy of the Union of South Africa intensified. Result. In the 1950s and 1960s, despite the penetration of American capital into South Africa, the British economic orientation of the Union of South Africa dominated.

АНАЛІЗ ДЕРЖАВНИХ СТИМУЛІВ ДЛЯ ЗАЛУЧЕННЯ ІНВЕСТИЦІЙ У ЦИФРОВУ ЕКОНОМІКУ

The article is devoted to the substantiation of the theoretical foundations and the development of practical recommendations regarding the study of the influence of state incentives on the attraction of investments in the digital economy. It was revealed that digital transformation requires a combination of infrastructure and investments. Given the definition of the concept of “incentive” as a reason or inducement that encourages parties to certain behavior or certain actions, currently in the legal context incentives are created through laws, regulations, financial subsidies or tax levers. It is noted that state incentives are used as tools to encourage desired behavior and achieve state policy goals. Systematized state incentives for attracting investments in the digital economy: state digitalization programs; withdrawal of digitalization investments from the tax base of companies; preferential tax rates and “tax holidays” (VAT, PnPP, personal income tax, EUV); preferential loans and grants; accelerated depreciation of fixed assets; exemption from payment of fees for infrastructure, real estate and land rent; innovative export insurance; public procurement of digital innovations. The analysis of state incentives for attracting investments in the digital economy of countries such as the USA, Great Britain, Luxembourg and Germany was carried out. For example, in the US – federal grant funding to support digital inclusion programs in states and territories. The UK encourages venture capital investment through schemes such as enterprise investment (EIS), investment in start-up enterprises (SEIS). Tax incentives for investments are widespread in Luxembourg. In Germany, the most common incentive is State programs aimed at influencing the investment behavior of businesses for the purpose of economic development. It has been determined that national digital competitiveness is the result of investment in education and the provision of the skills required by the labor market. According to the annual Aggregate Digital Economy and Society Index (DESI) for EU member states, Finland, Denmark, the Netherlands and Sweden are the most digitized, and the Top 10 in the IMD World Digital Competitiveness Ranking are occupied by such countries as: the USA, the Netherlands, Singapore, Denmark, Switzerland, Republic of Korea, Sweden, Finland, Taiwan (Chinese Taipei), Hong Kong SAR. Tools for stimulating investment activity and measures for the implementation of appropriate incentives for the digitalization of the economy in Ukraine are disclosed.

INTERACTIONS OF ECONOMIC GROWTH, PRODUCTIVITY, INVESTMENT AND EMPLOYMENT IN THE CONTEXT OF LONG-TERM MACROECONOMIC DEVELOPMENTS

The aim of this article is to discuss the relationship between economic growth, productivity, investment and employment in the economy of the Republic of Armenia by using econometric and mathematical toolkits. The study examined long-term quantitative and qualitative changes in the structure of the RA economy and their impact on economic growth, productivity, investment and employment dynamics. The study showed that during the period under review, although a stable trend of economic growth was maintained in the RA economy, the trend of labor productivity, which determines the quality of this growth, was negative, which is associated with the ongoing deterioration of the structure of the economy, in particular, declining share of industries with a high share of value added and high productivity and reducing the influence and of these type of industries. In parallel, the relationship and interaction of real economic growth, productivity, investment and employment were studied using quantitative assessment toolkit.

Terraforming Yemen: Geoeconomic imperialism, the UAE and the southern secessionists

This article argues that the intervention in Yemen (2015–present) of the United Arab Emirates (UAE) exemplified a new phenomenon, of postmodern small-state imperialism enabled by globalized, extra-European capital flows. The particular tactic deployed for these imperial purposes was terraforming, which had a tangible effect on the country’s geopolitical map. It involved a complex web of ground troops, support for surrogates and mercenaries, economic investments, and strategic concentration on securing the entire Arabian Sea and Gulf of Aden littoral. This effort had the positive goal of securing westward oil exports by the UAE and of creating a marine security environment conducive to Emirati administration of the port of Aden. Especially post-2019, it is argued, the UAE did not merely opportunistically pursue its STC policy under the wings of Saudi Arabia but rather confronted its larger partner, bombing Saudi proxies at key moments and acting more like a rival than a bandwagoning ally. This Emirati enterprise was shaped by the interests of Abu Dhabi and its local proxies rather than by US or European imperialism, though it sufficiently accorded with US policy to receive no pushback from Washington.

Tax Policy and Investment in a Global Economy

Tax Policy and Investment in a Global Economy

ІНВЕСТИЦІЙНА НЕВИЗНАЧЕНІСТЬ: ВИКЛИКИ ТА МОЖЛИВОСТІ ДЛЯ УКРАЇНИ

The article highlights the problems of attracting foreign direct investment in the conditions of war and the postwar period, which should be defined for the country as a period of investment uncertainty. It was emphasized that for Ukraine, which actively attracts investments from abroad, such a situation leads to the loss of opportunities for economic development and deterioration of competitiveness and can also affect the general decrease in the rate of economic growth. The volume of investment in the national economy before the war had unstable dynamics, but with the beginning of the war, the fall in investment became critical. It was noted that political instability, economic turbulence, changes in government policy, geopolitical conflicts, technological changes, or natural disasters are among the causes of investment uncertainty. It was pointed out that the result of investment uncertainty may be the delay or rejection of the implementation of investment projects. It was determined that to overcome uncertainty in the investment sphere, it is necessary to develop effective strategies for attracting investments, which is currently the most difficult task. Most of the countries that are large exporters of foreign direct investments, such as the USA, Germany, Great Britain, Japan, and others, have already aided Ukraine since the beginning of the war, so further attracting investments and their involvement in the restoration of the national economy in the post-war period will be problematic. It was emphasized that when building investment strategies, the principal things are: understanding modern investment trends (for Ukraine, in this context, it is possible to attract investments per the implementation of the Sustainable Development Goals); ensuring effective management of investment risks (insurance of direct foreign investment during wartime is especially relevant); transparency of government policy and regulatory measures, as well as the creation of a favorable business environment that will form the basis of investment stability and reliability

ФАКТОРИ ІНВЕСТИЦІЙНОЇ ПРИВАБЛИВОСТІ УКРАЇНИ

The article examines factors of Ukraine's investment attractiveness and ways of its activation. The modern legislative regulation of the activation of investment activities and the statistical dynamics of investments in the domestic economy are considered. It was noted about the effective legislative incentives of the laws of Ukraine "Regarding risk insurance of investments in Ukraine against war risks" and "On state support of investment projects with significant investments in Ukraine". The main tasks of the legislative decisions of the government during the full-scale military invasion of the occupiers are the activation and support of the innovative environment in Ukraine, the attraction of strategic investors to the domestic economy, and the provision of state support for large investment projects. This especially applies to such branches of the national economy as processing industry, extraction and beneficiation of minerals, transport, logistics, health care, etc. But this support will refer to large investment projects, namely, investment amounts must be equivalent to 12 million euros and the term of implementation of such projects should not exceed 5 years. The most active international companies are noted. Guarantees offered by the domestic government to foreign investors are given. Actual and planned reinvestments since the beginning of the military invasion of Ukraine are given. The international rankings of Ukraine are given. According to the rating compiled on the basis of research by Aswat Damodaran from the Stern School of Business at New York University, Ukraine is among the 20 countries in the world with a high investment risk. The rating was formed with the factors of political risk, economic structure, economic growth prospects, fiscal flexibility, debt burden of the public administration sector, stability of the financial sector, flexibility of monetary policy and gross and net external debt. The areas of activation of investment attractiveness in Ukraine are recommended - in the state and banking systems, and in the sphere of regulation of the market environment.

ВЛИЯНИЕ ИНВЕСТИЦИЙ НА РОСТ ЭКОНОМИКИ

This article analyzes the dynamics of investments in the national economy, examines their structure, which made it possible to determine the importance of investments in fixed assets in their composition. In relation to this type of investment, an analysis of the dynamics was also carried out and the role of each of these types of investments on the economy of the Russian Federation and its impact on the development of the national economy were determined.