Role In Economy Research Articles

The Role of Islamic Economics in the Global Economy

This article explains the role of Islamic economics in the global economy consisting of an introduction, understanding sharia economics, principles of Islamic economics, globalization and the role of Islamic economics in the global economy. This journal is to find out the role of Islamic economics in the global economy in accordance with Islamic economic principles. Islamic economics is based on sharia principles which prohibit usury (interest), gharar (uncertainty), and encourage fair and transparent transactions. These principles support economic stability and social justice. This research concludes that Islamic Economics plays a very important role in the global economy by offering an ethical and sustainable alternative. With the continued development of Islamic finance and increased global awareness of sharia principles, Islamic economics has the potential to make a significant contribution to global economic stability and inclusiveness.

How does corporate hypocrisy undermine corporate reputation? The roles of corporate trust, affective commitment and CSR perception

PurposeCorporate hypocrisy occurs when a discrepancy exists between corporate talk and actions. As companies assume more extensive economic, societal and global roles, they are more likely to encounter situations in which their words and actions are inconsistent. Therefore, a company’s ability to cope with such situations is becoming increasingly important. This study aims to examine the negative effects of corporate hypocrisy on corporate reputation. First, it reveals the underlying mechanisms by presenting corporate trust and affective commitment as parallel mediators. Additionally, it explores how corporate social responsibility (CSR) perceptions mitigate the indirect effects of corporate hypocrisy.Design/methodology/approachData were collected through an online survey conducted at two time points in the context of Korean retail banking companies. A total of 313 respondents participated in a two-wave online survey using a multistage sampling technique to ensure a representative population sample. This study used the Mplus-based Hayes’ PROCESS Macro to test the research hypotheses.FindingsThe results show that corporate hypocrisy negatively affects corporate reputation by impeding customers’ corporate trust and affective commitment. These negative indirect effects are mitigated when customers’ perceptions of CSR are high.Originality/valueBy establishing a parallel moderated mediation model that captures the impact of corporate hypocrisy. To the best of the authors’ knowledge, this study presents important academic and managerial implications that have not been provided in the literature.

ARIMA-GARCH MODEL IN OVERCOMING HETEROSCHEDSDATICITY IN STOCK PRICE PREDICTION (CASE STUDY: PT INDOFOOD, TBK (INDF))

Ensuring access to future stock price information holds significant weight for investors in formulating investment strategies. The Indonesian capital market serves pivotal economic and financial roles within the economy, offering various instruments, such as stocks. Among these, blue-chip stocks are recognized for their minimal risk exposure. The impact of the COVID-19 pandemic is anticipated to influence stock price dynamics, including those of blue-chip stocks. Statistical methodologies, such as Autoregressive Integrated Moving Average (ARIMA), are commonly utilized for stock price prediction. However, the efficacy of ARIMA is contingent upon the fulfillment of homoscedasticity assumptions. Failure to meet this assumption due to fluctuating stock price developments poses a challenge. Consequently, an ARIMA-GARCH hybrid model has been developed to address heteroskedasticity concerns in stock price forecasting. This study focuses on INDF stock data, exemplifying a blue-chip stock with positive performance. Results indicate that combining ARIMA-GARCH models, particularly the ARIMA(0,1,3)-GARCH(1,3) model, yields optimal predictions for subsequent stock prices. The MAPE value of the ARIMA-GARCH model stands at 1.41%, indicating superior performance compared to standalone ARIMA modeling. These findings are expected to serve as a valuable resource for investors navigating investment decisions.

Site-specific climate sensitivity of tree-ring width and vessel anatomical features of Juglans regia L. in Bhutan Himalaya

Climate change significantly impacts tree growth in the Himalayas, however, there is little information on how broadleaved tree species in Himalayan regions respond to climate change. Juglans regia L. (Common or Persian walnut) plays a vital economic and ecological role across the Himalayas, but little is known about how environmental changes influence the growth and wood anatomical traits of this species. In this study, we developed chronologies of tree-ring width (TRW) and six quantitative vessel anatomical features of Persian walnut trees from two sites in the Bhutan Himalayas. We evaluated how TRW and vessel anatomical features respond to climatic conditions and extreme climate events for the period 1960–2020. We found the climate sensitivity of tree growth differed at the two study sites, with the southwest-facing Dodeyna site (DOD) exhibiting higher moisture sensitivity than the north-facing Chimithangka site (CHI). The climate sensitivity of vessel traits was much stronger than that of tree-ring widths, particularly at the DOD. Hydraulic efficiency-related vessel traits (Mean vessel area, MVA; theoretical hydraulic conductivity, Kh; and hydraulic diameter, Dh) were positively sensitive to moisture availability, whereas the hydraulic safety-related vessel traits (vessel density, VD; and vessel grouping index, RVGI) were negatively sensitive to moisture availability at the DOD site. We further observed that MVA and Kh were significantly higher during extreme dry events at CHI site but displayed opposite directions at DOD site. Notably higher RVGI at the DOD site during dry years indicated an enhancement of hydraulic safety against drought. These findings highlight that the climate sensitivity of tree-ring width and vessel traits of walnuts were site-specific and mediated by aspects with the drier site (south-facing slope) being more sensitive. Whilst consideration of the aspects and site-specific climate sensitivity of tree species is crucial to developing robust forest conservation strategies at a larger spatial scale in the Himalayan region which is more vulnerable to climate change.

Changes in Population Densities and Species Richness of Pollinators in the Carpathian Basin during the Last 50 Years (Hymenoptera, Diptera, Lepidoptera)

Temporal changes in population densities and species richness of three main pollinator groups—moths and butterflies (Lepidoptera); bees, wasps and sawflies (Hymenoptera); and hoverflies, horseflies, tachinids and bee flies (Diptera)—were investigated in the Carpathian Basin. Maintaining pollinator diversity is a crucial factor for preserving our biodiversity and ecosystems; furthermore, several pollinator species have a strong economic role in maintaining crop and fruit cultures. Our conclusions are based on our three and four decades of faunistic surveys in various regions of the Carpathian Basin. Analyzing and comparing our data with the historical data of the last 50 years, we concluded that densities of some pollinators declined during the past decade and a half (Symphyta, hoverflies), although populations of several species of Mediterranean origin grew (Aculeata) and new species even migrated from the warmer regions. In numerous cases, this decrease was dramatic: more than 90% decline of certain butterfly species were detected. On the other hand, the composition of pollinator fauna significantly changed due to the disappearance of some mountainous or mesophile species. The main reason for the decrease in pollinator communities is due partly to climatic change and partly to anthropogenic factors. Different groups of pollinators react differently: some groups like Syrphidae, Tachinidae, most of the butterfly families and bumblebees suffered a strong decline in the last two decades; other warm-loving groups like most of Aculeata and horseflies and bee flies showed a significant increase in population densities. Our conclusion: in our region, the pollinator crisis is present but moderate; however, there is a clear sign of the gradual transition of our pollinator fauna towards the Mediterranean type.

Colombia's economic relations with China: The role of economics and politics in trade, investment, and economic agreements

AbstractOver the past two decades, many Latin America and Caribbean (LAC) countries have deepened their economic relationship with China by accepting large amounts of Chinese investments and signing up for China's Belt and Road Initiative (BRI). However, Colombia has not followed such a path. Using cross‐border data on trade, investment, and economic agreements, this article demonstrates that Colombia's under‐engagement with China is driven by Colombia's lower competitiveness in the commodities sectors, where Chinese demand for LAC products is highest. Colombia's limited competitiveness has led to lower exports to China and lower amounts of Chinese investment. The low level of bilateral economic activities has resulted in a lack of incentives for Colombia to sign economic agreements with China, as well as general public skepticism toward China and more favorable attitudes toward the United States even though this trend has been on the decline since 2016. Colombia can benefit from strengthening ties with China, without distancing itself from the United States, on issues pertaining to energy transition and the development of rural infrastructure, which will help reduce inequality and broaden export diversification in the medium to long term.

Shaping the Future of Endangered and Low-Resource Languages---Our Role in the Age of LLMs: A Keynote at ECIR 2024

Isidore of Seville is credited with the adage that it is language that gives birth to a people, and not the other way around , underlining the profound role played by language in the formation of cultural and social identity. Today, of the more than 7100 languages listed, a significant number are endangered. Since the 1970s, linguists, information seekers and enthusiasts have helped develop digital resources and automatic tools to support a wide range of languages, including endangered ones. The advent of Large Language Model (LLM) technologies holds both promise and peril. They offer unprecedented possibilities for the translation and generation of content and resources, key elements in the preservation and revitalisation of languages. They also present threat of homogenisation, cultural oversimplification and the further marginalisation of already vulnerable languages. The talk this paper is based on has proposed an initiatory journey, exploring the potential paths and partnerships between technology and tradition, with a particular focus on the Occitan language. Occitan is a language from Southern France, parts of Spain and Italy that played a major cultural and economic role, particularly in the Middle Ages. It is now endangered according to UNESCO. The talk critically has examined how human expertise and artificial intelligence can work together to offer hope for preserving the linguistic diversity that forms the foundation of our global and especially our European heritage while addressing some of the ethical and practical challenges that accompany the use of these powerful technologies. This paper is based on the keynote I gave at the 46th European Conference on Information Retrieval (ECIR 2024). As an alternative to reading this paper, a video talk is available online. 1 Date: 26 March 2024.

The future is fermented: Microbial biodiversity of fermented foods is a critical resource for food innovation and human health

BackgroundFermented foods and beverages have been a key component of the human diet for thousands of years, and play an important nutritional, cultural, and economic role in most human societies. Differences in ingredients, local practices, and environmental conditions can impact microbial communities in fermented foods resulting in distinct flavors, textures, and nutritional properties. Despite their ancient roots, omnipresence, potential health benefits, recent hype, and the plethora of tools to study microbial diversity, the microbial and functional diversity of most fermented foods currently remain unknown, while changing lifestyle practices threaten the loss of some fermented foods, with dire implications for gastrointestinal health. Scope and approachIn this commentary we discuss the nutritional, cultural, and economic values of fermented foods and (i) introduce FermDB, the largest interoperable database and map of fermented foods to date (https://bokulich-lab.github.io/FermDB/), intended as an extensible community resource for documenting and studying food fermentations; (ii) provide a consistent fermented food ontology for classification of these foods; and (iii) estimate global production values and biomass of some of the most common fermented foods to contextualize the social and economic importance of microorganisms for human food production. Key findings and conclusionsWe provide a new perspective on global diversity of fermented foods and associated microbial communities as a resource for sustainable food production. Additionally, the introduced database and ontology can act as a roadmap to the path toward conserving microbial biodiversity of traditional foods and studying their associated health benefits.

Understanding the extent of economic evidence usage for informing policy decisions in the context of India’s national health insurance scheme: Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana (PM-JAY)

IntroductionAyushman Bharat Pradhan Mantri Jan Aarogya Yojana (PM-JAY) is one of the world’s largest tax-funded insurance schemes. The present study was conducted to understand the decision-making process around the evolution...

Digital Technologies and Environmental Impact

Information and communication technologies (ICTs) are a collection of devices and services that acquire, transfer, and display data and information digitally. Information and communication technology (ICT) is developing rapidly and is playing an increasingly important role in society. The role of ICT in environment management gains more importance due to its extensive use in various arenas of environment like weather forecasting, systems in the climate change, forest Degradation, hurricanes and typhoons anticipations, smart waste management systems, energy supply efficiency and tourism industry. The impacts of ICT can be seen both positive as well as negative. Thus, ICT plays a crucial role in environmental economics. ICT needs to be use in most effective ways thereby reducing the operational challenges that are directly responsible for production of significant amount of electronic waste generated at the end of the useful lifecycle of an ICT gadget and Green House Gases (GHGs). The collaboration of ICT with environment must focus on reducing energy consumption and carbon emissions from the design, use and disposal of technology products.

The Impact of Female Entrepreneurship on Economic Growth in Developing and Developed Economies

Abstract Significance. The development of women’s entrepreneurship is still a largely untapped potential for growth and prosperity. The economic role of women is crucial for growth and a more equitable distribution of wealth. Economic opportunities are much more important for women today than for the previous generation, especially for developing countries. In this regard, the impact of women’s entrepreneurship on economic growth is an important area of research reflecting broader interests in gender equality, economic development and human resource optimization. Objectives. Analysis of the impact of women’s entrepreneurship on the economies of developed and developing countries and the development of some recommendations for the development of women’s entrepreneurship. Methods. For this study, the method of ordinary least squares (OLS) was used, which analyses the impact of women’s entrepreneurship on economic growth in developed and developing countries in the period 2012-2022. Results. The under-development of women’s entrepreneurship represents untapped potential for growth and prosperity in many countries. In this regard, there is an urgent need to create more favourable conditions for the development and strengthening of women’s entrepreneurship, more thoughtful policies and decisive measures aimed at empowering women are crucial. The results obtained in the course of this study are important for the development of theoretical and methodological foundations for the study of women’s entrepreneurship. The results of the study may be useful for women entrepreneurs, NGOs/NGOs, development institutions and government agencies.

Tackling sustainable development challenges: A fuzzy set examination of textile industry 4.0 and green supply chain barriers

AbstractCircular supply chains transform linear manufacturing into closed‐loop systems that promote Industry 4.0 and sustainable development. However, the barriers to China's textile sector have not been thoroughly investigated. Therefore, this study analyzes the contextual links between identified barriers and their prioritization for effective circular economy and green product development. This study enlisted 75 specialists to evaluate various obstacles utilizing the q‐ROFS approach for comprehensive quantitative analysis. The results revealed the interdependence of barriers and identified major devising from the market, financial, and organizational sides. The significant impact of market barriers on other challenges is shown by high similarity (90%), showing market problems' profound effects. Financial constraints significantly impact organizational and market barriers, stressing the role of economic factors in adoption challenges. Sociological, financial, and market issues are interconnected with organizational barriers, emphasizing the need for an integrated strategy. Finally, the assessments rank market‐related constraints, followed by economic and organizational barriers. Then there are society, the environment, and technological, supply chain, and government barriers faced by the Chinese textile industry. These results emphasize the need for comprehensive policies to overcome market, financial, and organizational barriers and the role of economics and market dynamics in adoption.

Authoritarian populist turn and market capture in Turkey: The political economy of public procurement

The state’s economic role has become more visible, beyond regulatory features, since the 2008 global financial crisis. In several cases, the new interventionist turn goes parallel to the authoritarian populist turn in international politics. Although the two processes have their own dynamics, they are still interrelated. Rather than abolishing the façade of the market economy, right-wing authoritarian populist leaders are more likely to capture the market through politically loyal economic actors. To this end, public procurement is one of the fundamental mechanisms to allocate resources. In this paper, we tested this argument in the case of Turkey by examining all public procurement deals (867,260 in total) between 2010 and 2019. We found that over a relatively short period of 10 years, the level of competitiveness, measured by the effective number of companies that receive public procurement, has decreased substantively. We also showed that the decrease in competitiveness was not limited only to the highest level of procurement deals. Across all deciles of procurement deals, competition has decreased, especially after 2013 – and this trend has continued since then.

Social Justice and Economic Sustainability: The Mitigation Role of Islamic Economics Against Natural Disasters

This article discusses the role of Islamic economic mitigation in achieving social justice and economic sustainability in the context of natural disasters. The main focus of this research is how the principles and instruments of Islamic economics, such as zakat, infaq, alms, waqf, andIslamic microfinance institutionscan be used to reduce the social and economic impact of natural disasters. Islamic economics, based on the principles of social justice and redistribution of wealth, offers a holistic and sustainable approach to dealing with disasters. These instruments are capable of providing immediate and effective assistance, as well as supporting long-term rehabilitation and development programs. This research uses a descriptive analysis method with a library research approach. The research results show that Islamic economics not only functions as an economic system, but also as a mechanism for achieving social justice and economic sustainability, which can significantly increase society's resilience to future disasters. This paper emphasizes that the application of Islamic economic principles can be an effective and sustainable solution in dealing with the macroeconomic impacts of natural disasters.

Assyrian conquest and ruralization: unveiling territorial dynamics in the provinces of Magiddû and Samerina

Between 732 and 720 BCE, the Assyrian conquest of the Kingdom of Israel marked a pivotal moment in the political history of the southern Levant, culminating in the establishment of the provinces of Magiddû and Samerina. The imprint of Assyrian dominance on these regions is evident through various archaeological remnants, reflecting the profound impact of the empire on local communities. This paper intends to delve into the transformation of settlement patterns within these provinces, elucidating their political and economic role within the empire and the extent of imperial territorial exploitation within the dynamic political landscape of the southern Levant. Central to this investigation is the assertion that the Assyrian administration favoured a process of ruralization within the newly formed provinces, characterized by the emergence of distinct ‘islands of control’. These are clusters of sites formed by a few administrative centres surrounded by a constellation of farm sites, interconnected by a network of roads. This recurring phenomenon emerges as a consistent motif throughout the Assyrian Empire, underscoring a strategy of territorial organization geared towards efficiently managing agricultural resources.

A systematic literature review on home-based businesses: two decades of research

PurposeThe research identifies literature on Home-Based Businesses (HBBs) from 2000 to August 2023, focuses on their economic roles, challenges for entrepreneurs and success strategies, reflecting societal and technological changes. This guides future studies and highlights knowledge gaps.Design/methodology/approachA systematic literature review of published, peer-reviewed research between the years 2000 and 2023 is performed to examine how research on HBBs has changed over time, areas needing more study and how research has been done.FindingsA total of 58 articles were analyzed and categorized into five distinct themes. Key insights into the evolution, significance and multifaceted aspects of HBBs are presented, revealing the impact and role of these businesses in a modern economic context.Originality/valueThe synthesis of existing literature enhances our understanding of recent studies on HBBs, focusing on challenges, and identifies promising directions for future research.

Botanic Gardens and Taxonomy - their Economic Role

An account is given of how the development of botanic gardens and of taxonomy have been linked throughout much of their history. After the period of physic gardens in which botany and medicine were intimately associated, there came a phase of exploration and commercial and agricultural development of colonial territories by European powers in which botanic gardens and taxonomists played a vital role. In the twentieth century with the creation of separate agricultural institutions and research stations, botanic gardens lost their link with agriculture, and went througn a phase of uncertainty and decline. With the rise of experimental botany, the role of taxonomy declined and efforts were concentrated on evolutionary or biosystematic, largely non-classificatory aspects, to the neglect of the information-processing role of the subject. In recent years, taxonomy is again seen to have a major practical role, in the conservation and resources crisis, a responsibility which taxonomists should willingly accept.

Publicly Traded Debt Restructuring Methods, Corporate Investment, and Debt Contracting

I use an important ruling, Marblegate Asset Management v. Education Management Corporation (EMC), to study the economic role of two publicly traded debt restructuring methods: coercive bond exchange offers and Chapter 11. This ruling restricted firms from employing coercive bond exchange offers to facilitate out-of-court restructurings, thereby increasing the likelihood of restructuring publicly traded debt under Chapter 11. Following the ruling, investment in affected distressed firms decreased substantially, but investment efficiency improved. The changes in covenant, maturity, and offering yield of newly issued bonds suggested that existing bondholders with covenants gained more bargaining power than shareholders and new bondholders. The paper provides causal evidence from a large sample analysis, demonstrating the divergent effects of these two publicly traded debt restructuring methods on investment policies. This paper was accepted by Victoria Ivashina, finance. Funding: Funding for this research was provided by University of Pittsburgh (Doctoral Fellowship) and Vanderbilt University (standard research funds). Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2022.01831 .

Digital economy and regional innovation: unveiling the spatial dynamics and human capital influence in China

PurposeThe paper aims to examine the digital economy's influence on China's regional innovation and development. It focuses on direct effects and spatial spillover across regions, and the mediating role of human capital. This analysis is vital for policy and strategic planning in the digital era.Design/methodology/approachThis study uses panel data from 30 Chinese provinces (2004–2019) and uses the entropy method to quantify the digital economy's development. It investigates its impact on regional innovation using a dynamic spatial Durbin model (SDM) and mediation effect model, assessing direct effects, spatial spillover and human capital's mediating role. Various control variables are included for comprehensive analysis.FindingsFindings show the digital economy significantly boosts regional innovation, acting as a growth driver. However, impacts vary regionally, with the central region gaining more than the eastern and western areas. Spatial spillover effects are mixed, showing negative short-term and positive long-term impacts under different weight matrices. Human capital is crucial for fostering innovation through the digital economy.Originality/valueThe paper offers unique insights into the spatial dynamics of the digital economy's impact on regional innovation in China. It advances understanding of the digital economy's role in regional development using innovative methods like the entropy method and dynamic SDM. Highlighting human capital as a key mediating factor enriches discussions on digital economy strategies for regional innovation.

Important but ignored: Research progress on crab foraging behaviour and its implications for aquaculture

AbstractCrab fisheries play a crucial role in global fishery economics, but they heavily rely on wild catches. With the decline and exploratory limits of wild populations, expanding the scale and production of aquaculture becomes vital for the sustainability of crab fisheries. The development of crab aquaculture encounters significant dietary challenges, stemming from suboptimal formulated feeds and inefficient feeding management. Leveraging insights from crab foraging behaviours offers a promising solution to these issues; however, progress is hindered by a lack of comprehensive behavioural data and the underappreciation of these insights in aquaculture. To bridge this gap, we systematically examine the progress in studies of crab foraging behaviour, analysing the influences of predators, prey, and environmental characteristics, and discuss possibilities for future research and development in the field by combining these findings with the demands of aquaculture. This review identifies a discrepancy in research focus, with inadequate emphasis on the major cultured species and their behavioural responses to factors limiting aquaculture productivity, aiming to enhance our comprehension of crab foraging behaviour and facilitate growth in the crab industry.