Economic Performance Indicators Research Articles

Economic Performance and Competitiveness Indicators: The Case of African Economies

This paper presents a statistical analysis of the relationship between economic performance and competitiveness indicators to address the question of the extent to which competitiveness indicators provideuseful information when assessing economic performance. The analysis was performed on various examples of African economies. The possible relationships between economic performance and competitiveness indicators were examined by extending a basic relationship between economic performance per capita and investment by competitiveness indicators. The models were estimated by means of an Arellano-Bond estimator. The authors detected many statistically significant relationships between economic performance and competitiveness indicators in the cases of both the whole sample and specifically middle-income economies. However, in the case of low-income economies there are no discernible relationships between economic performance and the information included in the competitiveness indicators. The paper contributes to the analysis of the economic performance of African economies, for which the empirical evaluation of possible links between economic performance and competitiveness indicators is altogether missing.

Time-efficiency and cost-analysis comparing three digital workflows for treatment with monolithic zirconia implant fixed dental prostheses: A double-blinded RCT

ObjectivesThis double-blinded randomized controlled trial investigated economic performance indicators (EPI) in terms of time-efficiency and production costs of 3-unit monolithic zirconium-dioxide (ZrO2) implant fixed dental prostheses (iFDP) in three different workflows. MethodsTwenty patients with two Straumann Tissue-Level-Implants received three iFDPs; two were fabricated in proprietary complete digital workflows with intraoral optical scanning and model-free fabrication with company-related CAD/CAM lab-software while one iFDP was manufactured on digitized casts from conventional impressions. The sequence of impression-taking for the three workflows (TRIOS 3/3Shape [Test-1]; Virtuo Vivo/Dental Wings [Test-2]; Impregum/3M Espe [Control]) was randomly allocated. Sixty iFDPs bonded to ti-base abutments were analyzed. Clinical and technical worksteps for Test-1/Test-2/Control were recorded and evaluated for time-efficiency including cost-analysis (CHF=Swiss Francs) using ANOVA-Tests (significance level α=0.05). ResultsMean total work time, as the sum of clinical plus technical steps, was 97.5 min (SD ± 23.6) for Test-1, 193.1 min (SD ± 25.2) for Test-2, and 172.6 min (SD ± 27.4) for Control. Times were significantly different between Test-1/Test-2 (p < 0.00001), Test-1/Control (p < 0.00001), and Test-2/Control (p < 0.03610). Technical costs were 566 CHF (SD ± 49.3) for Test-1, 711 CHF (SD ± 78.8) for Test-2, 812 CHF (SD ± 89.6) for Control, and were also significantly different for all comparisons (p < 0.00001). ConclusionsTest-1 demonstrated the best performance for time-efficiency, Test-2 revealed the worst result. This indicates that digital workflows are not the same and not necessarily superior to analog workflows of monolithic ZrO2 iFDPs. Complexity decreases by reducing the number of steps following complete digital workflows, resulting in lower production costs compared to the mixed analog-digital workflow with conventional impressions. Clinical significanceComplete digital workflows comprising intraoral optical scanning without physical models for treatment with monolithic ZrO2 iFDPs is an efficient alternative to mixed analog-digital workflows with conventional impressions and labside digitization of dental casts.

Effects of external financial flows on income inequality in selected Southern African Development Community member states

Background: The developmental goals of various emerging markets are quantitative targets set to reduce income inequality, alleviate poverty, reduce unemployment and achieve continuous inclusive economic growth amongst other key economic performance indicators. The interest is mainly on what can be done on economic performance to fight escalating inequality, increase economic growth and maintain low inflation amongst other economic indicators.Aim: The study investigates the effects of external financial flows on income inequality in the Southern African Development Community (SADC) region.Setting: The study shows the long-run stable relationship between the set of variables.Methods: The study have used the panel cointegration, autoregressive distributed lag and causality techniques.Results: The findings are that in the long run, remittances can strongly reduce income inequality, foreign direct investment (FDI) and cross border bank lending have an increasing effect and foreign aid can weakly reduce inequality. In the short run, FDI and cross border bank lending can strongly explain income inequality, and negative remittances and foreign aid are insignificantly explaining income inequality. Furthermore, the evidence from panel causality confirms the bidirectional causality amongst remittances, cross border bank lending and income inequality, and unidirectional causality in other sets of variables.Conclusion: It can be concluded that external financial flows can play a vital role to reduce persistent income inequality in the SADC region. It is recommended that the SADC governments need to formulate policies on remittances as they have positive returns on human capital, strengthen foreign aid institutions and create conducive environment to attract FDI.

Life cycle thinking-based energy retrofits evaluation framework for Canadian residences: A Pareto optimization approach

Building energy retrofits have been identified as key to realizing climate mitigation goals in Canada. However, retrofit solutions that only produce greenhouse gas emission savings can place economic burdens on residential building owners and hinder the community penetration of building energy retrofitting projects. Therefore, investigating trade-offs between environmental and economic impacts of retrofitting is essential to identify optimal retrofit strategies that can produce emissions savings while delivering economic benefits for the stakeholders. This paper proposes a community-level building energy retrofit evaluation framework for residential buildings. The proposed framework evaluates building energy retrofits using a multi-objective optimization approach that accounts for associated life cycle economic and environmental impacts. Life cycle CO2 emissions were selected as the indicator for environmental performance. The net present value of the cash flows involved in a given retrofit project throughout the project life cycle was selected as the economic performance indicator. Building energy simulation results were combined with economic and environmental impact data to quantify these performance indicators. The performance results were used to identify Pareto-optimal retrofit solutions. The results indicate that retrofitting existing residential buildings can produce considerable emission reductions (up to 245.1 tonCO2eq/residence) and cost savings (up to 12,900 $/residence). Moreover, retrofit packages should prioritize upgrading building envelope insulation and space heating systems. This study introduces a decision support tool for community-level retrofit planners that can account for life cycle environmental and life cycle economic performance of retrofitting while fulfilling capital investment constraints.

Million Plus Population Cities of India: An Analysis of Economic Performance and Quality of Life

This article seeks to explore the performance of the million plus population cities in India in the economic dimensions. Forty-five such cities governed by municipal corporations were studied the data provided by the Census of India for the years 2001 and 2011. Two indices are constructed to examine the economic performance and the quality of life, Index of Economic Performance (IEP) and Quality of Life Index (QoLI), respectively. The analysis highlights the significant role played by small and medium cities in India in the generation of wealth and employment, while several large cities continue to have higher values for the IEP. However, the ancillary cities close to them emerge as better performers. Further, regression results show QoLI explains 26% of the variation in the IEP.

Pandemi Covid-19: Inflasi dan Pengangguran Dalam Perspektif Ekonomi Islam

This study aims to analyze the tradeoff between inflation and unemployment based on an Islamic economic perspective. Inflation and unemployment are important indicators of economic performance and both are major problems that must be controlled immediately because they will have a wide impact on various things, especially during the Covid-19 pandemic conditions. Inflation and unemployment have a negative relationship, the lower the level of unemployment, the higher the inflation rate. One of the causes of inflation is the increased price of goods which results in an increase in production costs. Whereas in Islam the existence of costs is caused by the monopoly of goods or labor, but in an Islamic-based market it is not applied. Therefore Muslim entrepreneurs will not face high costs to meet excess wages because workers get wages that must match the earned productivity. Furthermore, the handling of unemployment affected by the Covid-19 pandemic can be done by maximizing the Islamic economic philanthropic scheme, namely zakat, infaq, shadaqah, and lending on a qardhul hasan basis.

Information Model For Improving Accounting And Analytical Support For Economic Potential Management

The relevance of the study is conditioned by the need to strengthen the management function of an agricultural enterprise that focuses on the principles of sustainable development and aims to modernise accounting and analytical support for managing economic potential. The purpose of the study is to form a strategy for the desired improvement of accounting and analytical support of the enterprise with an emphasis on: reporting on sustainable development; expansion of the analytical complex of indicators of economic potential, capacity and performance of an agricultural enterprise; improvement of accounting and analytical support of enterprises using this information model through updating the documentation of control and audit. The theoretical and methodological basis was formed by scientific methods based on the dialectic of knowledge and objective laws of the development of the economy, nature, and society. Economic and mathematical modelling, systematisation and synthesis helped to develop a strategy to improve accounting and analytical support for managing the economic potential of agricultural enterprises, taking into account the principles of sustainable development. This type of modelling can help to effectively modernise accounting and analytical support for managing the economic potential for agricultural enterprises. The developed information model of selective adaptation helps managers of various levels to monitor the implementation of business processes for improving accounting and analytical support for economic potential management, assess the degree of achievement of priority goals and compliance with the principles of sustainable development. One of the steps of long-term modernisation of accounting and analytical support for agricultural enterprises through the introduction of sustainable development reporting is proposed, which should include indicators and documents on managing the economic potential, economic capacity, and performance of agricultural enterprises. The advantage of this information model is the ability to calculate the complexity index of transformation of accounting and analytical support for economic potential management using the principles of sustainable development, which shows the level of complexity of future modernisation of these aspects

How energy insecurity leads to energy poverty? Do environmental consideration and climate change concerns matters.

The aim of the study is to estimate the nexus between energy insecurity and energy poverty with the role of climate change and other environmental concerns. We used DEA like WP methods and properties of MCDA, a most common form of data envelopment analysis (DEA) to estimate the nexus between constructs.This paper presents a measurement and analysis of G7 countries' energy, economic, social, and environmental performance associated with energy poverty indexes. The study used the multiple, comprehensive, and relevant set of indicators, including energy economics and environmental consideration of energy poverty. The net energy consumption of al G7 economies is equal to 34 percent of the entire world along with the net estimate GDP score of around 50 percent. Using DEA modelling and estimation technique, our research presented valuable insights for readers, theorists and policy makers on energy, environment, energy poverty and climate change mitigation. For this reasons, all theseindicators combined in a mathematical composite indicator to measure energy, economic, social, and environmental performance index (EPI). Results show that Canada has the highest EPII score, which shows that Canada's capacity to deal with energy self-sufficiency, economic development, and environmental performance is greater than the other G7 countries. France and Italy rank second and third. Japan comes next with 0.50 EPI scores, while the USA has the lowest average EPI score environment vulnerable even though have higher economic development among the G7 group countries. We suggest a policy framework to strengthen the subject matter of the study.

Sustainability Reporting in Cooperatives

The aim of the present study is to examine the sustainability reports of cooperatives, which may play an important role in achieving the sustainable development goals and help to identify which economic, environmental, and social sustainability indicators cooperatives are currently reporting. For this purpose, a total of 168 sustainability reports were examined for cooperatives that use the Global Reporting Initiative (GRI) G4 reporting, and that are included in the Sustainability Disclosure Database (SDD-GRI). As a result of this study, it was determined that the economic performance indicator disclosure levels of cooperatives that are active in the financial services sector are higher compared with those of cooperatives that are active in other sectors. In addition, it was also observed that the labor practices and decent work sub-category indicator disclosure levels of cooperatives active in the agriculture sector are lower compared to those of cooperatives that are active in the healthcare services and financial services sectors. Another outcome of this study was the finding that the social performance indicator disclosure levels for large-scale cooperatives are greater than those of small- and medium-sized (SME) cooperatives.

Outperformed by a Computer? - Comparing Human Decisions to Reinforcement Learning Agents, Assigning Lot Sizes in a Learning Factory

Given the fact that some products in the production system require larger cycle times and a setup process during production, the application of different lot sizes might be beneficial regarding economic and logistic key performance indicators. Maximizing the profit considering the according work in process, inventory, set up and penalty costs is a complex challenge. In this contribution, we present the complete workflow from collecting data, deriving a simulation model, as well as training and deploying a machine learning model for assigning lot sizing in a dynamic production system. Furthermore, we compare the results of human participants and the reinforcement learning agent in a real-world learning factory workshop. The comparison of the results shows, that the reinforcement learning-agent is able to achieve the same level of results as the human experts.

Optimal Synergy between Photovoltaic Panels and Hydrogen Fuel Cells for Green Power Supply of a Green Building—A Case Study

Alternative energy resources have a significant function in the performance and decarbonization of power engendering schemes in the building application domain. Additionally, “green buildings” play a special role in reducing energy consumption and minimizing CO2 emissions in the building sector. This research article analyzes the performance of alternative primary energy sources (sun and hydrogen) integrated into a hybrid photovoltaic panel/fuel cell system, and their optimal synergy to provide green energy for a green building. The study addresses the future hydrogen-based economy, which involves the supply of hydrogen as the fuel needed to provide fuel cell energy through a power distribution infrastructure. The objective of this research is to use fuel cells in this field and to investigate their use as a green building energy supply through a hybrid electricity generation system, which also uses photovoltaic panels to convert solar energy. The fuel cell hydrogen is supplied through a distribution network in which hydrogen production is outsourced and independent of the power generation system. The case study creates virtual operating conditions for this type of hybrid energy system and simulates its operation over a one-year period. The goal is to demonstrate the role and utility of fuel cells in virtual conditions by analyzing energy and economic performance indicators, as well as carbon dioxide emissions. The case study analyzes the optimal synergy between photovoltaic panels and fuel cells for the power supply of a green building. In the simulation, an optimally configured hybrid system supplies 100% of the energy to the green building while generating carbon dioxide emissions equal to 11.72% of the average value calculated for a conventional energy system providing similar energy to a standard residential building. Photovoltaic panels account for 32% of the required annual electricity production, and the fuel cells generate 68% of the total annual energy output of the system.

Measuring Key Performance Indicators in Retail Trade

IThe tendency of business entities to cope with the challenges of the environment in which they operate is determined by the state and development of a complex system of evaluation indicators describing the condition and performance of the company and their time dynamics. They serve to objectively measure the extent to which the individual economic operator meets the conditions by which to be assigned to the group of successful business agents. In traditional retail trade, the most significant indicators for business evaluation are: gross (profit) margin, operating margin, turnover of inventories, gross return on investment in inventories, gross profit per employee, etc. The paper examines the key economic performance indicators of the three leading retail chains in the retail sales of fast moving consumer goods (FMCG) in Bulgaria.

Dependence of the Possible and Allowable Projection Error on the Projection Time Frame

This study addresses the issues of assessing and factoring in the effect of uncertainty growth on the possible performance of projections and their allowable errors. Relying on projects of nuclear power plants and combined cycle power plants as a case study, we assess the dependence of their economic performance indicators on possible changes in the conditions of their future operation in a given year. To assess the effect of the range and nature of input data uncertainty on the projections of the development of regional energy supply systems, we proposed a methodological toolkit that combines optimization with the Monte Carlo simulation. Its application to one of the options for commissioning new power plants in European Russia enabled us to estimate the possible response of the average and marginal cost of electricity in this aggregated region to the broadening of the uncertainty range of the gas price. We note that the assessment and comparison of the possible error of projected indicators with the requirements for their accuracy in making priority investment and other decisions facilitate the justification of the acceptable complexity of employed models and projection methods.

Sustainability of Investment Projects with Energy Efficiency and Non-Energy Efficiency Costs: Case Examples of Public Buildings

According to the European Commission Energy Union strategy from 2015, some of the main objectives are to improve energy efficiency, reduce dependence on energy imports, cut emissions, and drive jobs and growth. Achieving the objectives of the Energy Union requires significant financing, particularly for investments in energy efficiency. Serbia and Croatia included the objectives of the Energy Union in their national strategies and have implemented various investment projects in this area. This paper focuses on the sustainability of energy efficiency projects for public buildings which include not only energy efficiency investment cost but also non-energy efficiency investments. By applying the European Commission methodology for cost-benefit analysis, we assessed the sustainability of several projects in Serbia and Croatia. The sustainability assessment is done by quantifying energy savings, greenhouse gas emission reductions and the social and economic benefits that are related to non-energy efficiency project components. The values of economic performance indicators imply that society would be better off with projects that would contribute to achieving not only the targets set in national energy strategies but also to creating broader social benefits.

Experimental research into the ignition and combustion characteristics of slurry fuels based on dry and wet coal processing waste

The paper presents the results of comparing the integral characteristics of ignition and combustion of coal and composite fuels, prepared from coal processing waste in a dry and wet state, in a model combustion chamber. We calculated the relative fuel performance coefficients, taking into account the established ignition delay times, fuel burnout duration, concentrations of gaseous anthropogenic emissions, as well as temperature changes (reduction at the initial stage and growth during rapid combustion) in the model combustion chamber. It was shown that the ignition delay times of coal processing waste in a dry state are 30–70% lower than in the initial wet state. However, burning wet coal processing waste provides the lowest concentrations of NOx and SO2 (5–44% lower than in a dry state and 35–70% lower than they are for coal). Considering the main environmental, economic and energy performance indicators, optimal conditions were established for the combustion of abundant coal processing waste as part of water-containing slurry fuels. It was established that the relative performance coefficient of slurry fuels ranges from 2.05 to 58.87 when varying the moisture content and component composition. This coefficient is maximum for wet filter cake without oil. This allowed us to conclude that wet coal processing waste is highly promising.

DIAGNOSTIC ASSESSMENT OF ECONOMIC PERFORMANCE OF ORGANIZATION LOGISTIC ACTIVITIES

In the article the expediency of using a performance approach to the management of organizations and enterprises was substantiated based on the results of analyzing the peculiarities of modern business conditions. To ensure success management, the methodological approach to diagnosing the economic performance of logistics activities on the ground of using the dynamic standard method was improved. The proposed methodological approach, in contrast to the existing ones, allows during the integrated assessment of economic performance to characterize the level of fulfillment of the condition for the efficient use of the resources during the logistics activities implementation. For the practical implementation of the proposed methodological approach, firstly, an algorithm was developed for integrated assessment by the method of dynamic standards based on the adaptation of the methodology of its implementation to the essence and content of a complex and multifaceted phenomenon of economic efficiency; secondly, the list of the main indicators of economic performance of logistics activity was made on the basis of the system approach which has allowed to form the list of indicators which reflect results, expenses and resources of logistics activity in their interrelation; thirdly, the dynamic standard of economic performance of logistics activity was substantiated on the basis of results of the research made by the method of the hierarchies analysis. The proposed dynamic standard is a reference model for the efficient use of the resources of the organization for logistics activities. To obtain the results, the following research methods were used: historical, generalization, abstraction, comparison, analogy, modeling, formalization, analysis, synthesis, deduction, induction, systems approach, expert evaluations, pairwise comparison, hierarchy analysis and dynamic standard. The proposed research results can be used by managers who are interested in organizing logistics activities in accordance with the requirements to successful development in modern business environment.

Comparative Analysis of Agricultural Incomes from Organic and Conventional Farming Systems in North Benin: Case of the Municipality of Tanguieta

It is likely that Goals 2, 14, and 15 of the Sustainable Development Goals (SDGs) will never be achieved if organic farming remains economically less profitable than conventional farming. This study was aimed at making a comparative analysis of the economic performance of organic and conventional farming systems. The data were collected from 36 organic and 39 conventional farmers, by individual interviews using semi-structured questionnaires. Descriptive, economic performance indicators and ordinary least square (OLS) regression analysis were used. The results show that the cotton farming activity remains economically more profitable in organic systems, despite the technical constraints of farming. In combination with cotton, corn and soybeans are more profitable in organic systems than conventional. Moreover, level of prosperity, distance from home to cotton farms are positively related to conventional farming system income at 1% and 5% level of significance. Agricultural assets, contact with extension agents, experience in organic farming, secondary activity is positively related to organic system income at 1%, 5%, and 5% level of significance; whilst the household size and the cotton acreage are negatively related to organic system income at 1% and 5% level of significance. It would then be necessary to continue and intensify the programs of diffusion of the best organic cultivation practices to the farmers whatever their experience in organic and to be more interested in corn and soy crops.

Towards biofuel generation III+: A sustainable industrial symbiosis design of co-producing algal and cellulosic biofuels

The emergence of environmental and sustainability regulations as well as the limited availability of fossil fuels have brought the notion of gradually substituting petroleum products with biofuels into the limelight. The commercialization and large-scale adoption of cellulosic biofuel (second-generation biofuel) and microalgae biofuel (third-generation biofuel) have been hampered by their poor economic performance. Although the production wastes of biofuel can be utilized as input materials to enhance resource utilization efficiency, environmental sustainability and economic viability in each generation, rarely existing research has been conducted on the integration between these two generations. To fill this research gap, a novel industrial symbiosis (IS) design for the co-production of second- and third-generation biofuels is proposed in this paper. The material flow, energy flow, cost performance, and environmental impact models are established considering the interactions of stakeholders in the IS system. Four scenarios, consisting of the baseline case without IS and three IS cases with different microalgae species, are comprehensively compared in terms of various economic and sustainability performance indicators. Compared to the baseline case, the results reveal that the synergies in the bioenergy IS system render an annual manufacturing cost reduction of >10% in all IS scenarios. It is also discovered that the symbiotic design can lead to a 36% reduction in greenhouse gas (GHG) emissions, a 9.4% decrease in eutrophication potential (EP), and a 7.5% reduction in acidification potential (AP) when adopting the same species of microalgae. The synergies among the bioenergy IS system stakeholders are proved to be viable and beneficial to enhance the economic viability and environmental sustainability.

A robótica educativa na disciplina de história: desenvolvimento tecnológico, respostas sociais e econômicas em diferentes períodos / Educational robotics in the history discipline: technological development, social and economic responses in different periods

The objective of this work is to describe and analyze actions and facts in the area of technology throughout history and the integrative process with the activities of Educational Robotics which has been widely disseminated within the teaching spaces. Based on the assumption that History promotes society's reflection on its current and future perspectives from the critical point of view of the facts, its potential as an integrator of actions related to Educational Robotics is evidenced, which is strongly integrated with the great changes observed in society contemporary. An analysis and description of the main technological and economic facts is carried out throughout history and the robotics paradigm for the modern education system, using a literature search on the subject. Based on this important integration, it is observed that the technological development processes are strongly linked to the means of production, this consideration is a strong indicator of efficiency and economic performance. Based on the evidence raised from the literature that substantiates this work, a work is presented for the curricular integration of the teaching practice of History to other curricular components through themes related to Educational Robotics and, consequently, to bring the reflection of teachers and students on technologies in the social context.

A comprehensive techno-economic analysis and multi-criteria optimization of a compressed air energy storage (CAES) hybridized with solar and desalination units

In this paper, a novel dual-purpose green energy storage system with the aim of power and potable water production is proposed and investigated from the thermodynamic and economic points of view. The proposed system is based on an innovative combination of compressed air energy storage with solar heliostat and multi-effect thermal vapor compression desalination units that provides power and clean water without any emissions. This system not only stores low price electricity as compressed air during off-peak times for peak shaving at high demand periods, but it also produces freshwater by recovering the waste heat that is a byproduct of the system at both charging and discharging periods. Exploiting solar energy for increasing the air turbine inlet temperature instead of using the conventional combustion chambers makes the system entirely environmentally friendly. Performing energy, exergy, and exergoeconomic analyses, an artificial neural network algorithm is developed to predict round trip efficiency and total cost rate as the leading indicators for energy and economic performance of the proposed system. Then, the obtained relations are introduced to the genetic algorithm for multi-objective optimization that considers both technical and economic aspects. The round trip efficiency and total cost rate are calculated to be 48.7% and 3056 $/h under the optimal design condition, respectively. Finally, utilizing the proposed system in the case study of San Francisco, United States of America, a total potable water production of 226,782 m3 and power generation of 27,551 MWh in a year with a payback period of 2.65 years were achieved.