Economic Methodology Research Articles

Opportunities and Constraints Confronting transformation Towards a Green Economy in the Developing Countries

In the growing economy of developing countries, the environment is getting unsustainable. There is the requirement of goals that are standardized and complementary for the promotion of Green Economy Growth and developed the constraints confronting transformation and providing opportunities. Industrial civilization and inorganic products erode the healthy pathway. World global policies initiated the transformation of the planet as the result of the “Green go Economy”. This platform is an alternate vision for that developing countries' growth and development which are facing climate change, biodiversity losses, water scarcity, and negative externalities. This study aims to assess the effect of environmental factors quality of living standards, opportunities, and constraints confronting transformation towards a green economy in developing countries. The study measured the dimensions and principles of the “green economy” as a base for additional society development. The several challenges to initiating a green economy and achieving sustainable technological change need to be understood by professionals and policymakers to make adequate changes in the social setting. Effective influence on the level of echo of several important phenomena was implemented for the aspirational transformation of economic and environmental measurement. The recent developments are improving cheap, faster broader frameworks for measuring socio-economic environmental interactions. In the light of UNEP, OECD, and UN policies all the issues, challenges, and critics of the green economy that developing countries are facing are positively analyzed for promoting the green economy for sustainable development and maintaining a long-term relationship between environment and economic growth. The reviewer has many objectives for better improvement of measures in Green economy transformation. The study contributes towards the green economy development over a policy to decrease the environmental risks and progress economic growth. The study concludes that better investment in green product GDP, better interaction in the economy society environment, and ecosystem, and better economic transformation methodologies of the green economy will attain attention for a better future in developing countries.

Reflections on the Three Controversies in Economic Methodology by Virtue of the Philosophy of Science

Reflections on the Three Controversies in Economic Methodology by Virtue of the Philosophy of Science

The better toolbox: experimental methodology in economics and psychology

In experimental economics one can confront a “don’t!”, as in “do not deceive your participants!”, as well as a “do!”, as in “incentivize choice making!”. Neither exists in experimental psychology. Further controversies exist in data collection methods, e.g., play strategy (vector) method in game experiments, and how to guarantee external and internal validity by describing experimental scenarios by field-related vignettes or by abstract, often formal, rules as it is used in decision and game theory. We emphasize that differences between the experimental methodology of the two disciplines are minor rather than substantial and suggest that such differences should be resolved, as much as possible, through empirical research. Rather than focusing on familiar debates, we suggest to substitute the revealed-motive approach in experimental economics by designs whose data not only inform about choice, but also about the reasoning dynamics.

Otto Neurath’s Scientific Utopianism Revisited-A Refined Model for Utopias in Thought Experiments

Otto Neurath’s empiricist methodology of economics and his contributions to political economy have gained increasing attention in recent years. We connect this research with contemporary debates regarding the epistemological status of thought experiments by reconstructing Neurath’s utopias as linchpins of thought experiments. In our three reconstructed examples of different uses of utopias/dystopias in thought experiments we employ a reformulation of Häggqvist’s model for thought experiments and we argue that: (1) Our reformulation of Häggqvist’s model more adequately complies with many uses of thought experiments, especially with the open-ended discussions of utopias and dystopias in thought experiments. (2) As a strict logical empiricist, Neurath is committed to a strictly empiricist account of thought experiments. John Norton’s empiricist argument view can indeed account for the justifications of empirical beliefs and genuine discoveries targeted by scientific utopianism in three distinct (yet connected) ways, all of which Neurath already contemplated: (2.I) Dealing with utopias and thought experiments on a regular basis increases creativity and inventiveness. (2.II) Particular ways of presenting knowledge facilitate scientific discovery and social progress. (2.III) The use of utopias in thought experiments can prompt conceptual change and allow access to new phenomena. We conclude by highlighting that, even though thought experiments support a positive attitude for exploring new social possibilities, Neurath points out that active decisions are unavoidable. The exploration of alternatives and the awareness of a need for decisions in policy discussion avert a technocratic outlook in social science.

What influences slum residents' choices of healthcare providers for common illnesses? Findings of a Discrete Choice Experiment in Ibadan, Nigeria.

Urban slum residents have access to a broad range of facilities of varying quality. The choices they make can significantly influence their health outcomes. Discrete Choice Experiments (DCEs) are a widely-used health economic methodology for understanding how individuals make trade-offs between attributes of goods or services when choosing between them. We carried out a DCE to understand these trade-offs for residents of an urban slum in Ibadan, Nigeria. We conducted 48 in-depth interviews with slum residents to identify key attributes influencing their decision to access health care. We also developed three symptom scenarios worded to be consistent with, but not pathegonian of, malaria, cholera, and depression. This led to the design of a DCE involving eight attributes with 2-4 levels for each. A D-efficient design was created, and data was collected from 557 residents between May 2021 and July 2021. Conditional-logit models were fitted to these data initially. Mixed logit and latent class models were also fitted to explore preference heterogeneity. Conditional logit results suggested a substantial Willingness-to-pay (WTP) for attributes associated with quality. WTP estimates across scenarios 1/2/3 were N5282 / N6080 / N3715 for the government over private ownership, N2599 / N5827 / N2020 for seeing a doctor rather than an informal provider and N2196 / N5421 /N4987 for full drug availability over none. Mixed logit and latent class models indicated considerable preference heterogeneity, with the latter suggesting a substantial minority valuing private over government facilities. Higher income and educational attainment were predictive of membership of this minority. Our study suggests that slum residents value and are willing to pay for high-quality care regarding staff qualifications and drug availability. It further suggests substantial variation in the perception of private providers. Therefore, improved access to government facilities and initiatives to improve the quality of private providers are complementary strategies for improving overall care received.

Ideas, symbols and narratives for the economic development of Russia

Objective : to consider the importance of studying the influence of ideas and ideology on economic development. Based on the concept of three fundamental conditions and two prerequisites necessary for the modern innovative development of the economy, the ideas are proposed that may be in demand for their implementation. Methods : the article uses historical and qualitative methods to analyze and hypothetically reconstruct the influence of ideas on economic development. The approaches of narrative economics are applied to the study of the economic policy justification. Results : it is shown that, under modern conditions, narratives widely spread in society are significant for promoting ideas regarding economic reform. Narratives are an evolutionarily established way of packaging ideas and broadcasting them in the society. To promote effective narratives, they must be consistent with historical experience, as well as associated with significant historical figures. The paper considers the seemingly paradoxical hypothesis that in modern conditions Lenin’s legacy can serve as a basis for the promotion of progressive ideas. Such ideas are primarily related to the modernization of the economy and social relations based on technological innovations, the development of entrepreneurship and market mechanisms, as well as the development of education and science. Scientific novelty : it consists in the application of the synthesis of institutional and narrative economics methodology to the study of the dissemination of ideas and related narratives and their impact on economic development. Practical significance : the provisions and conclusions of the article can be used for further analysis of the influence of ideas and ideology on the implementation of economic policy and institutional changes aimed at economy modernization.

Experimental and Numerical Study on the Fluid Dynamics and Exergetic Performance of the Heat Exchanger in an Industrial Corn Drying System

The heat exchanger is the key component of an industrial drying system. The present work introduced a novel tube heat exchanger into a corn drying system. To fully understand the heat exchange process and optimize the heat exchange performance of the heat exchanger, numerical simulation, exergy analysis and economic analysis methodologies were adopted to analyze the comprehensive performance of the heat exchanger. The fluid dynamics as well as the exergy performance of the heat exchanger under different flue gas velocities (3, 5 and 7m/s) and different ambient air relative humidities (80%, 85% and 90%) were investigated. The results showed that there are two strong turbulences causing the huge pressure drop at the last two stages of the flue gas duct, while there are two insufficient heat exchange areas on both sides of the heat exchanger; thus, the corresponding improvement recommendations were proposed in the present work. The values of the Re and Nu were found to vary in the range of 1256.275–2210.554 and 21.337–32.415, respectively. The average heat transfer coefficients were ascertained to be above 8.274 kW·m−2·K−1, while the pressure drop of the ambient air was ascertained to be under 16.138 Pa. Moreover, the exergy analysis revealed that the heat exchanger experiences sustainable development (SI < 2), and the exergy efficiency is above 11.461%. The main results may provide some references for further optimizing the heat transfer performance of the heat exchanger.

PANI sensor for monitoring the oxidative degradation of wine using cyclic voltammetry

Redox species in wine are altered by pH and some wines are easily degraded due to oxidation and sulfur dioxide (SO2) reduction. There is a need for quick, easy, simple, and economical methodologies for pH and wine-oxidized products (acetaldehyde) analysis. This study aimed to measure pH and degradation of wines that were electrochemically analyzed using polyaniline (PANI) sensor. Gas chromatography (GC) and fourier transform infrared spectrometer (FT-IR) were also used. Electrochemical analysis showed that oxidation was accelerated and peak currents (Ip,a) and potentials (Ep,a) shifted to negative direction due to acetaldehyde formation. PANI sensor achieved a limit of detection (LOD) of 7 × 10−1 ppm and a sensitivity of 5.20 µA ppm−1 cm−2. Acetaldehyde formation was confirmed by GC (30%) and FT-IR spectra at 1647 cm−1 to the CO vibration of aldehyde. These results suggested that acetaldehyde degraded the taste of wine after remaining open.

The Origins and Dynamics of Inequality: Sex, Politics, and Ideology (By Jon D. Wisman, Department of Economics, The American University, Washington D.C.)

This is an original contribution, explained in informative content, and written in lucid language that can be accessed by an informed reader. The author is Professor Jon D. Wisman of the Department of Economics, The American University, Washington D.C. U.S.A. a prominent academic in the field of economic philosophical methodology, history of economic thought, and economic history.

Plasticity and brittleness of Fe-based amorphous alloy strips assessed via a single abrasive impact method

Fe-based soft magnetic amorphous alloys represent the next generation of magnetic core materials and are expected to replace silicon steel sheets in many applications. An economical and fast methodology for the study of the plasticity and brittleness of this material is however necessary to permit its widespread use. Abrasive water jetting is a cold processing technique that has great potential for use in the fabrication and inspection of Fe-based amorphous alloy parts. However, research on this technique is currently lacking. In order to assess the plasticity and brittleness of Fe-based amorphous alloys by considering abrasive impacts, this work investigates the effect of impact speed and impact angle on the removal process in Fe-based amorphous alloys and establishes the corresponding abrasive erosion mechanism. It is found that Fe-based amorphous alloys exhibit four primary responses: shear slip, viscous flow, shear crack formation, and brittle fracture; the plasticity and brittleness of Fe-based amorphous alloys are assessed by considering the impact morphology and mechanism.

EU MECI: A Network-Structured Indicator for a Union of Equality

How are the Member States performing in their challenge toward a fairer and more equal Europe? Based on the data measured by the EU Multidimensional Inequality Monitoring Framework (EU MIMF), we introduce the Multidimensional Equality Complexity Index, EU MECI, derived by structuring the EU MIMF data as a bipartite network of countries and indicators. EU MECI is defined upon the economic complexity methodology, exploiting the network’s centrality metrics to calculate aggregate scores of the capacity of Member States to ‘build a Union of equality’.

A Survey of Environmental Performance Enhancement Strategies and Building Data Capturing Techniques in the Nigerian Context

The need to improve the performance of Nigeria’s office buildings is due to, energy challenges, increasing population, changing user needs, and climate change. With the expansion of several Nigerian cities, existing buildings constitute a significant portion of the building stock, and improving their environmental performance could be more cost-effective than reconstruction. The use of simulation packages to assess alternative retrofitting enhancement scenarios is a straightforward approach. However, in Nigeria it is often challenging to get appropriate information to facilitate this type of evaluation; many buildings were not built to their original specifications, and when available, the records are often in a poor state due to deterioration. Studies that aimed at enhancing a building’s performance hardly stated the acquisition of the required building information. This paper investigates current practices and future possibilities of improvement measures and data capturing of existing buildings using a questionnaire survey of 133 building professionals in Benin City. The inter-relationship between energy efficiency, the environment, and building design with a high potential for meaningful retrofit to mitigate energy inefficiencies is known but not fully utilized. The collected thought on current practices signifies the need for developing a more economical and reliable methodology for data capturing and evaluation.

Ecological and Economic Assessment of the Reuse of Steel Halls in Terms of LCA

In engineering practice, investment activities related to the construction of a building are still limited to the idea of a linear cradle to grave (C2G) economy. The aim of the study is to determine the ecological and economic benefits inherent in the reuse of structural elements of a hall building using the idea of a Cradle to Cradle (C2C) looped circular economy and Life Cycle Assessment (LCA). As a rule, a multiple circulation of materials from which model buildings are made was assumed through successive life cycles: creation, use, demolition and then further use of the elements. This approach is distinguished by minimizing negative impacts as a result of optimizing the mass of the structure—striving to relieve the environment, thus improving economic efficiency and leaving a positive ecological footprint. The assessment of cumulative ecological, economic and technical parameters (EET) methodology of generalized ecological indicator (WE) for quick and practical assessment of the ecological effect of multi-use steel halls, based on LCA, was proposed. The authors of the work attempted to assess the usefulness of such a structure with the example of four types of halls commonly used in the construction industry. The linear stream of C2G (cradle to grave) and then C2C (cradle to cradle) flows was calculated by introducing ecological parameters for comparative assessment. Finally, a methodology for calculating the ecological amortization of buildings (EAB) was proposed. The authors hope that the proposed integrated assessment of technical, economic and ecological parameters, which are components of the design process, will contribute to a new approach, the so-called fast-track pro-environmental project.

Cationic Polymer Functionalized Copper Nanocluster-Based Fluorescent Probe for the Selective and Sensitive Detection of S2– Ions

The sensitive and selective detection of sulfide (S2–) ions in water is of major interest due to its toxicity and physiological effects on organisms. Herein, we have designed a fluorescent probe, poly(allylamine) hydrochloride (PAH) functionalized copper nanocluster (Cu NC@PAH), for the detection of S2– ions. The synthesis of the probe is based on the electrostatic interaction between negatively charged Cu NCs and the positively charged polymer, PAH. The drastic enhancement of the photoluminescence (PL) intensity of Cu NCs and the quantum yield (QY) enhancement from 0.3 to 6% are evident after functionalizing with a cationic polymer matrix of PAH. The steady-state and time-resolved fluorescence studies support the aggregation-induced emission (AIE) phenomenon for PL QY enhancement. In addition, the Cu NCs@PAH exhibit excellent selectivity toward aqueous S2– ions. The probe displays a reasonable quenching response for S2– ions over a concentration range of 0–20 μM with a detection limit of 2.39 μM. We believe that this facile and economical synthesis methodology of Cu NCs@PAH with interesting AIE properties will extend the scope of previously available techniques for the detection of the S2– ion.

Facilitators and barriers to the use of economic evaluations in nutrition and public health

Aims: Interventions targeting diets have the potential to reduce a consistent fraction of the chronic disease burden. Economic evaluations of such interventions can be an important tool in guiding public health practitioners and decision makers at various levels, yet there are still not many economic evaluations in this area. This qualitative study explored facilitators and barriers in conducting and using economic analyses to inform decision makers in the field of public health nutrition. Methods: Data were collected through written, open-ended questionnaires administered to twenty-three participants (13 from academia and 10 from government) using purposive sampling and analysed through a conventional content analysis. Results: The analysis revealed two broad categories of barriers, which included: i) “Methodological challenges”, and; ii) “Barriers related to application of economic evaluations.” Two main categories of facilitators were also identified: i) “Facilitators to improving the methodology of economic evaluations”, with subcategories further detailing frameworks and methods to be applied, and; ii) “Facilitators to broaden the use of economic evaluations”, with most subcategories addressing science-into-policy translations. These barriers and facilitators to the use of economic evaluations in public health are perceived differently by researchers and policymakers, the former more focused on implementation aspects, the latter more concerned by methodological gaps. Conclusion: Public health nutrition policies seldom take into account data from formal economic evaluations. Economic evaluation methodologies can be improved to ensure their broader application to decision making.

TOWARDS A “TEXT AS DATA” APPROACH IN THE HISTORY OF ECONOMICS: AN APPLICATION TO ADAM SMITH’S CLASSICS

Quantitative techniques have received increasing attention in the history and methodology of economics. Nonetheless, a “text as data” approach has mostly been overlooked and its applicability to the history of economics remains to be examined. To understand what we gain from such quantitative techniques in relation to existing historical analyses, we apply some “text as data” techniques to Adam Smith’s The Theory of Moral Sentiments and The Wealth of Nations. We explore the books’ topics, styles, and sentiments. We show how word frequency analysis can be used to examine the differences between the books, shed light on conceptual discussions, and reveal an important stylistic aspect, specifically Smith’s use of personal pronouns. Style analysis shows the similarities and differences in terms of lexical richness and readability between the two books. We also show the limitations of a third technique, sentiment analysis, when applied to historical economic texts.

Economic Recovery: A Bibliometric Study

Abstract: Purpose: This study aims to determine the characteristics of previous studies on economic recovery Research Methodology: This research is a bibliometric study using the charting the field method developed by Hesford et al., (2006). Results: 46 articles from 2021-2022 were obtained from the Sinta accredited journal with the keyword economic recovery. The majority articles are from 2021, Sinta 5, economic journal, used qualitative research, secondary data sources. Last, three strategies most discussed were empowerment of MSMEs, the provision of social assistance, and the use of Islamic financial instruments. Limitations: This study uses only two of the three classifications developed by Hesford et al (2006). Contribution: The novelty in this research is to propose a new classification based on the focus and scope of journals, Sinta's accreditation rating, types of research, types of data sources, data collection methods, and economic recovery strategies discussed. Keywords: 1. Econometric Recovery 2. Covid-19 3. Bibliometrics

К ВОПРОСУ О КОНСТИТУЦИОННОЙ ПОЛИТИЧЕСКОЙ ЭКОНОМИИ В РАМКАХ ИНСТИТУЦИОНАЛЬНОЙ ПОЛИТИЧЕСКОЙ ЭКОНОМИИ

The article presents a brief summary of the development of political economy. The fundamental differences between the methodology of political economy and the methodology of economics are briefly described. It is shown that modern political economy is not reduced to either Marxism or the "new political economy" of J. Buchanan. The relevance of research within the framework of institutional political economy, which is capable of developing the achievements of classical political economy, traditional institutionalism and institutional evolutionary theory, is substantiated. It is proposed to develop constitutional political economy within the framework of this particular area of political and economic research.

The Formalization of Marx’s Economics

Whether Marx’s economics and Marxist political economy can be formalized using mathematics is a controversial and divisive issue. From studying the text of Capital and its manuscripts, it emerges that Marx’s research on the capitalist mode of production involves the application of mathematical methods. Marx creates a set of symbols related to the social production of capitalism, and on that basis constructs an economic model corresponding to his theoretical analysis. Obviously, the mathematical method is an integral part of Marx’s economic methodology. In a certain sense, using mathematical methods to study and formalize Marx’s economics is in line with Marx’s approach to economic topics. However, the formalization of Marx’s economics must strictly observe the relevant principles; otherwise, it will lead to serious problems.

ФАКТОРНЫЙ АНАЛИЗ ИННОВАЦИОННОГО РАЗВИТИЯ РЕГИОНА: ОЦЕНКА МУЛЬТИПЛИКАТИВНОГО ВОЗДЕЙСТВИЯ ДРАЙВЕРОВ РОСТА

This article is devoted to the development of the methodology of regional and sectoral economics and contains the results of research in the field of assessing the multiplicative impact of growth drivers on the regional economy. Indicates the need to create a unified theoretical framework, including a conceptual apparatus and classification models of economic growth in the area of interest. Factor impulses are identified that contribute to the long-term and sustainable development of the region, indicators that will contribute to the target multiplicative impact on the development of the region under study. An assessment of the multiplicative impact of the following drivers of growth in innovative development of the region was carried out: structural drivers, intersectoral drivers, resource drivers. These studies confirmed the hypothesis about the presence of specially identified growth drivers and their grouping into structural, intersectoral, and resource ones, and their multiplicative impact can be considered to assess the innovative development of the region during factor analysis.