Economic Methodology Research Articles

Systemic Evaluation of the Threats to the Strategy of Technological Development of Russia

The article is devoted to the study of factors that inhibit the creation of knowledge and technologies, as well as usage and diffusion in the Russian economy and that pose the threats to the technological development of the country. The study is based on the system economic theory methodology, which involve system analysis methods studying the economy and society as an integrated socio-economic system in its unity and mutual dependence of key subsystems. This approach is aimed to receive evaluation reflecting the real static and dynamic picture of all sectors that contribute to the creation of innovation: production, monetary systems, institutional environment, science, education and society. The risk zones are depicted in the diagram of the strategic planning and governance inherent Russian practice. From a systemic point of view, the conclusions are that the objective system evaluation should be in the basis of the strategy. Inadequate quality of planning, ignoring system linkages and interactions in decision-making, use of incorrect data as well as other defective governance actions pose a significant threat to the development of the Russian Federation. The directions for further research in order to reduce the risks of technological development strategy are proposed in the paper. The proposals concern improvement in both evaluation methods and the metrics of the socio-economic system characteristics, which can give the truth picture of the system, and the concept of strategizing changes in non-stationary economy.The author declare no conflict of interest.

Saudi Model of Development for the Islamic World: Peculiarities and Limits

The article is devoted to the analysis of the Saudi model of development for the Islamic world, which Riyadh started actively promoting after the “Arab Spring”. The popular protests in the Middle East and North Africa countries, which led to the changes in the ruling regimes, opened up prospects for the states of the region to transform their own models of statehood. In this regard large regional actors such as Saudi Arabia, Iran and Turkey proposed their own models as an example for possible changing political systems and foreign policy of countries affected by unrest. The relevance of the topic of this study is determined by the fact that the current struggle for leadership in the Middle East, unfolding between Saudi Arabia and Iran, has reached a level where the rivals could influence the choice of development path of other countries, such as Syria, Lebanon and Yemen. In this regard, it is extremely important to assess the models proposed by Riyadh and Tehran, to determine the prospects for their implementation. The purpose of the article is to identify the features of the development model for the Islamic world proposed by Saudi Arabia, as well as to assess the limitations of this model. The author used both general scientific methods (analysis, synthesis, generalization) and methods of historical science (concrete historical, comparative historical, historical genetic methods) and religion studies (causal analysis). In addition, the methodology of political science and economics was widely used. A special focus was done on the quantitative analysis of the amount of aid sent by Saudi Arabia to implement various projects in the countries of the Islamic world as part of international development assistance programs, with the aim of forming a ranking of recipient states from Riyadh. As a result of the study, the author came to the conclusion that Saudi Arabia pursues a pragmatic foreign policy strategy, in fact, not relying on Islamic principles. However, Riyadh is devoting significant financial resources to implementing programs to promote the development of the Islamic world and religious diplomacy, in which the promotion of its own “version” of Islam - Wahhabism, and more precisely Salafism, plays an important role. Among the main limitations of the Saudi model the author identified oil as the basis for modernization, since not all states have this resource and can develop their own economy on its basis; Wahhabism as a “small-town” doctrine, which can hardly be borrowed by the countries of the Islamic world, in which more moderate religious schools have traditionally dominated; absolute monarchy as a form of government, even with elements of democracy.

Analytical and economic methodology for storage of large heavyweight equipment in industrial processes

Numerous studies concerning warehouse-design methodologies have been performed focused on the storage of products on pallets or of intermediate size and/or moderate weight loads. These studies, however, do not provide with optimal results for industries that work with equipment or objects of uncommon sizes and shapes and with large weights, which are difficult to move and involve high costs and complex operational actions, affecting to the production processes and interfering with the logistic processes or the supply-chain of a company. This study proposes an analytical methodology using economic and technical qualitative criteria that can be applied specifically to large and heavy equipment warehouses. Both quantitative aspects, such as availability and cost of space, and also qualitative considerations, such as flexibility requirements, impact on manufacturing process and risks associated, are evaluated. To determine an optimum implementation solution, several decision-making methods, such as Electra I & II and Analytic Hierarchy Process are employed with due consideration of multiple criteria. The results obtained are modulated and reinforced using a SWOT (strengths-weaknesses, opportunities- threats) and a Risk analysis to verify this single ultimate solution. The said process led to the establishment of a decision-making methodology suitable for any organization possessing large-scale storage systems.

Geometallurgical Concepts Used in Industrial Mineral Production

AbstractGeometallurgy has developed since the 1970s, primarily on metallic ore operations. In parallel, industrial mineral operations have been optimized through detailed deposit knowledge and market development, without making specific reference to geometallurgical concepts. The Norwegian mining industry is dominated by industrial mineral and construction material operations, and, in this paper, key differences between the industrial mineral and the metallic ore sectors are investigated, along with their influence on the development and the use of economic block models and optimization methodologies. Further, the key levers and factors (mining method selection, processing route, scale, sequence, and cutoff policy) for value creation in industrial mineral operations are discussed, along with how and to what extent geometallurgy has been used. It is concluded that the five key levers cannot be used in industrial minerals operations as effectively as they are used in metallic ore operations. In industrial minerals, in situ strength variations are an important parameter in estimating key performance indicators such as recovery and product quality. When modeling the spatial variation in rock strength potential, additivity issues must be resolved by investigating the process the raw material is exposed to. The Norwegian industrial mineral sector has been using elements of geometallurgy but is facing unresolved issues related to strength variations and the use of measurement while drilling data.

Modelling industry interdependency dynamics in a network context

PurposeInterdependency among industries is vital for understanding economic structures and managing industrial portfolios. However, it is hard to precisely model the interconnecting structure among industries. One of the reasons is that the interdependencies show a different pattern in tail events. This paper aims to investigate industry interdependency with the tail events.Design/methodology/approachGeneral predictive model of Rapachet al.(2016) is extended to an interdependency model via least absolute shrinkage and selection operator quantile regression and network analysis. A dynamic network approach was applied on the Fama–French industry portfolios to study the time-varying interdependencies.FindingsA denser network with heterogeneous central industries is found in tail cases. Significant interdependency varieties across time are shown under dynamic network analysis. Market volatility is identified as an influential factor of industry connectedness as well as clustering tendency under both normal and tail cases. Moreover, combining dynamic network with prediction direction information into out-of-sample industry return forecasting, a lower tail case is obtained, which gives the most accurate prediction of one-month forward returns. Finally, the Sharpe ratio criterion prefers high-centrality portfolios when tail risks are considered.Originality/valueThis study examines the industry portfolio interactions under the framework of network analysis and also takes into consideration tail risks. The combination of economic interpretation and statistical methodology helps in having a clear investigation of industry interdependency. Moreover, a new trading strategy based on network centrality seems profitable in our data sample.

Sunlight Assisted Degradation of Methylene Blue as a Model Dye using Bismuth Oxychloride Nanoparticles: Ecofriendly and Industry Efficient Photocatalysis for Waste Chemical Treatment

In this study, an efficient sunlight triggered dye degradation was demonstrated using methylene blue as a model dye and bismuth oxychloride nanoparticles were used as photocatalyst. Two different types of nanoparticles, nanoflower and nanodisk, were prepared to understand the effect of morphology on the photocatalysis. Both the particles were prepared following a straightforward and easy methodology from readily available chemicals. The particles were characterized using scanning electron microscope, Fourier transformed infrared spectroscopy, powder X-ray diffraction. UV-visible spectroscopy and colorimeter were used to evaluate the photocatalytic activity of the catalyst. Both the nanoparticles were able to degrade the dye completely within 3-4 h under visible light. The photocatalytic rate constant analysis demonstrates that out of two morphology, nanoflower is found to be more effective than nanodisk towards dye degradation. The sunlight was also used to understand whether the photocatalyst can degrade the dye or not in presence of sunlight only. Both nanoparticles were able to degrade the dye 100 % in presence of sunlight within maximum 4 h. The photocatalytic dye degradation in presence of sunlight was conducted in between 10 a.m. to 4 p.m. when the maximum amount of sunlight is available with high intensity and energy. The catalysts were 100 % active after the first cycle and upto four cycles the dye degradation efficiency remain around 60-80%. The study demonstrates that sunlight can degrade the dye in presence of these photocatalyst which clearly indicates its energy saving approach thus making it more economic and green methodology for the industries.

Social preference under twofold uncertainty

We investigate the conflict between the ex ante and ex post criteria of social welfare in a new framework of individual and social decisions, which distinguishes between two sources of uncertainty, here interpreted as being objective and subjective, respectively. This framework makes it possible to endow the individuals and society not only with ex ante and ex post preferences, as is usually done, but also with interim preferences of two kinds, and correspondingly, to introduce interim forms of the Pareto principle. After characterizing the two social welfare criteria, we present two compromises between them, one based on the ex ante criterion and absorbing as much as possible of the ex post criterion (Theorem 1), the other based on the ex post criterion and absorbing as much as possible of the ex ante criterion (Theorem 2). Both solutions translate the assumed Pareto conditions into weighted additive utility representations, as in Harsanyi’s Aggregation Theorem, and both attribute to the individuals common probability values on the objective source of uncertainty, and different probability values on the subjective source. We discuss these solutions in terms of the by now classic spurious unanimity argument and a novel informational argument labeled complementary ignorance. The paper complies with the standard economic methodology of basing probability and utility representations on preference axioms.

Development of novel economical methodologies for zymographic analysis of purified xylano–pectinolytic enzymes using agrowaste‐based substrates

In this study, zymographic analysis for xylanase and pectinase enzymes has been carried out using agrowaste residues, wheat bran and citrus peel as well as their extracts. Isozymic forms of xylanase as well as pectinase enzyme displayed comparable zymographic bands onto agar petriplates containing either commercial substrates (xylan and pectin), agrowaste-based substrates (wheat bran and citrus peel), or polysaccharides extracted from these agrowastes (crude xylan and pectin extracted from wheat bran and citrus peel, respectively), indicating the fact that agro residues and their extracts can be utilized as a substitute of cost-intensive commercial substrates, xylan and pectin for zymographic analysis. This is the first report revealing the zymographic analysis of xylano-pectinolytic enzymes using agro-based solid residues particles or polysaccharides extracted from agro-based residues.

The model (also) in the world: extending the sociological theory of fields to economic models

ABSTRACTThe goal of this paper is to provide a methodological perspective on economic models that accounts for some sociological dimensions of economics, in two senses. Firstly, we are interested in how modeling is an activity that is constrained by the (implicit and explicit) rules underlying the accumulation of academic prestige within economics and at the same time can be a means to change these rules. Secondly, we are interested in how, for a given model, this dynamic can be influenced by the use(s) of that model outside of economics. We first provide a restatement of Brisset’s [(2018). Models as speech acts: The telling case of financial models. Journal of Economic Methodology, 25(1), 21–41] original contribution. We then put this clarified methodological perspective to work on a new case study, i.e. on the dual models at the frontier between behavioral and standard economics.

Optimal dynamic control of predator\u2013prey models

This paper combines work to use a decision support tool for sustainable economic development, while acknowledging interdependent dynamics of population density, and interferences from outside. We get new insights derived from experimental approaches: analytical models (optimal dynamic control of predator–prey models) provide optimal dynamic strategies and interventions, depending on different objective functions. Our economic experiments are able to test the applicability of these strategies, and in how far decision-makers can learn to improve decision-making by repeated applications. We aim to analyse a sustainable environment with diametrical goals to harvest as much as possible while allowing optimal population growth. We find interesting insights from those who manage the dynamic system. With the methodology of experimental economics, the experiment at hand is developed to analyse the capability of individual persons to handle a complex system, and to find an economic, stable equilibrium in a neutral setting. We have developed a most interesting simulation model, where it will turn out that prices play a less important role than availability of the goods. This aspect could become a new important aspect in economics in general and in sustainable environments especially.

Direct Synthesis of Cycloalkanes from Diols and Secondary Alcohols or Ketones Using a Homogeneous Manganese Catalyst.

A method for the synthesis of substituted cycloalkanes was developed using diols and secondary alcohols or ketones via a cascade hydrogen borrowing sequence. A non-noble and air-stable manganese catalyst (2 mol %) was used to perform this transformation. Various substituted 1,5-pentanediols (3-4 equiv) and substituted secondary alcohols (1 equiv) were investigated to prepare a collection of substituted cyclohexanes in a diastereoselective fashion. Similarly, cyclopentane, cyclohexane, and cycloheptane rings were constructed from substituted 1,4-butanediol, 1,5-pentanediol, and 1,6-hexanediol, and sterically hindered ketones following a (4 + 1), (5 + 1), and (6 + 1) strategy, respectively. This reaction provides an atom economic methodology to construct two C-C bonds at a single carbon center generating high-value cycloalkanes from readily available alcohols as feedstock using an earth-abundant metal catalyst.

Simple In-House Fabrication of Microwells for Generating Uniform Hepatic Multicellular Cancer Aggregates and Discovering Novel Therapeutics.

Three-dimensional (3D) cell culture models have become powerful tools because they better simulate the in vivo pathophysiological microenvironment than traditional two-dimensional (2D) monolayer cultures. Tumor cells cultured in a 3D system as multicellular cancer aggregates (MCAs) recapitulate several critical in vivo characteristics that enable the study of biological functions and drug discovery. The microwell, in particular, has emerged as a revolutionary technology in the generation of MCAs as it provides geometrically defined microstructures for culturing size-controlled MCAs amenable for various downstream functional assays. This paper presents a simple and economical microwell fabrication methodology that can be conveniently incorporated into a conventional laboratory setting and used for the discovery of therapeutic interventions for liver cancer. The microwells were 400–700 µm in diameter, and hepatic MCAs (Huh-7 cells) were cultured in them for up to 5 days, over which time they grew to 250–520 µm with good viability and shape. The integrability of the microwell fabrication with a high-throughput workflow was demonstrated using a standard 96-well plate for proof-of-concept drug screening. The IC50 of doxorubicin was determined to be 9.3 µM under 2D conditions and 42.8 µM under 3D conditions. The application of photothermal treatment was demonstrated by optimizing concanavalin A-FITC conjugated silica-carbon hollow spheres (SCHSs) at a concentration of 500:200 µg/mL after a 2 h incubation to best bind with MCAs. Based on this concentration, which was appropriate for further photothermal treatment, the relative cell viability was assessed through exposure to a 3 W/cm2 near-infrared laser for 20 min. The relative fluorescence intensity showed an eight-fold reduction in cell viability, confirming the feasibility of using photothermal treatment as a potential therapeutic intervention. The proposed microwell integration is envisioned to serve as a simple in-house technique for the generation of MCAs useful for discovering therapeutic modalities for liver cancer treatment.

Response to Henschen: causal pluralism in macroeconomics

ABSTRACTIn his recent paper in the Journal of Economic Methodology, Tobias Henschen puts forth a manipulationist definition of macroeconomic causality that strives for adequacy. As the notion of ‘adequacy’ remains underdeveloped in that paper, in this study we offer a discussion of what it means for a definition of causality to be adequate to macroeconomics. One of the meanings of adequacy is that the definition of causality describes the types of relations for which macroeconomic causal models stand for. On this understanding of adequacy, we take issue with Henschen’s claim. We argue that his manipulationist definition is only applicable to a sample of causal models used by macroeconomists. There are other sets of macroeconomic causal models to which probabilistic and mechanistic definitions seem more adequate. We show relevant examples to support this claim and conclude that a moderate causal pluralism is an adequate stance with respect to macroeconomic causal models.

Visible Light‐Initiated Catalyst‐Free One‐Pot, Multicomponent Construction of 5‐Substituted Indole Chromeno[2,3‐b]pyridines

AbstractA visible light‐initiated pseudo four‐component reaction of salicylaldehydes, indole and malononitrile in aqueous ethyl lactate is described. This pot, atomic and step economic (PASE) methodology provides a practical approach for the preparation of various 5‐substituted indole chromeno[2,3‐b]pyridines from readily available starting materials at ambient temperature without any catalyst. High yields and excellent functional groups tolerance are observed.magnified image

Review: “Philosophy and methodology of economics” edited by L. A. Tutov; “Concepts of modern economic knowledge” edited by L. A. Tutov

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Theoretical principles of formation the platform of systemic interactions of land resource and market cycles of development

Global trends in the development of economic theory and methodology today demonstrate to the urgent need to formulate a new conceptual framework for economic relations, regulate them, conduct a new economic policy, and turn to the newest vision of economic practice, in particular in the field of nature using. The above factors also determine the choice of research direction for the systemic interaction of land resource and market cycles of development. The purpose of this article is to investigate the conceptual foundations of forming a platform for systemic interactions between the land-resource and market cycles of development to ensure social well-being and sustainable spatial development of the country. The achievement of this purpose necessitated the following tasks: to define the goals, the aim of the platform of systemic interactions of the land resource and market cycles of development and to determine the structure of the interconnected elements of the platform at the national level. As a result, the theoretical principles of formation a platform of systemic interactions of land resource and market cycles of development are investigated; in particular the identification of its system characteristics is made in the article. The structure of the interconnected elements of the system interaction platform at the national level is outlined. The goals and purpose of its functioning are determined and the aim of the first one to achieve the goal – to ensure public well-being and sustainable spatial development of the country is justified, as well as the functions of the platform of systemic interactions of land resource and market cycles of development at the national level. Key words: platform, land-resource and market cycles of development, public welfare, sustainable development.

Review of the Third Annual Conference of Journals Consortium at MSU Faculty of Economics

The article is devoted to a review of the Third Annual Conference of Journals consortium at MSU Faculty of Economics, which took place on October 23, 2019. The purpose of this conference was to discuss a wide range of issues relevant to economic science, including issues of state scientific policy, methodology of economics, digital and sectoral economics, macroeconomic modeling and sustainable development, demography and labor economics. The article provides brief information about the previous conferences, considers key ideas of the plenary session and gives an overview of thematic sections.

Algunas cuestiones metodológicas en el análisis económico

<span class="A0"><span>A partir de la crisis financiera de 2007/2008 la teoría eco­nómica predominante se encuentra en estado de crisis. La mayoría de sus economistas no sólo no previeron la pro­fundidad de la crisis sino que ni siquiera consideraban que algo así fuera posible. Este estado de cosas ha resucitado el interés por las cuestiones metodológicas del análisis económico. En este trabajo se revisan algunas cuestiones destacadas en materia de metodología económica. Ellas son: la diferencia entre la ciencia económica y las ciencias naturales; cómo opera la refutación en economía; las posibilidades de predecir en esta cien­cia; el uso de la matemática; la relación entre economía positiva y economía normativa y se explora la posibilidad de utilizar el enfoque de complejidad en economía</span></span>

Ciência econômica e economia da cultura

A proposta de uma economia da cultura recorre à lógica econômica, seus conceitos e metodologia para uma análise econômica da indústria cultural, compreendendo: efeitos externos, investimentos a longo prazo, especificidade de remuneração, importância do subsidio público ou privado, aliados a um forte componente de incerteza. Ao transpor o valor econômico à cultura, tanto fomenta discussões sobre orçamentos públicos como envolve o setor corporativo nas questões culturais, criando metodologias para avaliação do impacto econômico da cultura na geração de riqueza e empregos Essa avaliação inclui: valor do capital cultural, participação no mercado, direitos de propriedade intelectual, justificativas para a interferência estatal no mercado, estimativa dos impactos dos acordos multilaterais nas relações sociais e na preservação das expressões culturais de um povo. A economia da cultura se utiliza das técnicas oferecidas pelo conhecimento econômico para defender a importância da cultura como geradora de crescimento econômico e seu potencial para o desenvolvimento socioeconômico.

Economics and economic methodology in a core-periphery economic world

ABSTRACT This paper uses a core-periphery distinction to characterize contemporary economics, economic methodology, and also today’s world economy. First, it applies the distinction to the organization of contemporary economics through an examination of the problem of explaining economics’ relations to and boundaries with other disciplines. Second, it argues that economics’ core-periphery organization is replicated in a similar organization of the use and practice of contemporary economic methodology in economics. Third, it draws on the use of the core-periphery thinking in economics itself regarding the uneven development of the world economy to provide possible foundations for economics and economic methodology being organized in core-periphery terms. Fourth, the paper briefly discusses three potential countervailing forces operating on the development of contemporary economics that might work against its core-periphery organization.