Economic Performance Indicators Research Articles

Methodology for the selection of manufacturing technology chains based on ecologic and economic performance indicators

When manufacturing products, it becomes increasingly important to consider ecological factors in addition to conventional key performance indicators such as manufacturing costs, time or quality. The greatest leverage for creating the most sustainable form of product manufacture is in the early stages of technology planning, because emissions can be avoided in the long term through the selection of sustainable technologies. However, there are methods that allow ecological factors to be taken into account during technology planning to supplement the usual key performance indicators, but the level of detail and the applicability are not yet sufficient. In order to support decision makers in the planning and evaluation of technology chains, this paper develops a methodology that supports technology chain selection. For this purpose, an economic-ecological key performance indicator was developed which combines manufacturing costs, material flow costs and environmental impacts determined through life cycle assessment to enable a holistic view.

PERFUMES MANUFACTURING AS PART OF THE CREATIVE INDUSTRIES: ITS GLOBAL AND LOCAL ECONOMIC IMPACT

The article approaches the production of perfumes as part of the creative industries and its evolution. We investigated the international economic stakes of perfume production, showing that global perfume exports have exhibited a sinusoidal evolution in recent years. We presented the evolution of perfume exports, as well as the Export Potential Indicator with reference to countries and export markets. The local economic stakes were exposed through the lens of supply and value chains, showing the direct, indirect and induced economic impact of the perfume industry. We addressed the ethical and economic concerns related to animal testing in the perfume production process. The case study on the Joint Stock Company “Viorica-Cosmetic” elucidated the local impact of the perfume industry in the Republic of Moldova. We analysed the evolution of the company's economic performance indicators.

A Road Map to Detect the Foremost 3E Potential Areas for Installation of PV Façade Technology Using Multi-Criteria Decision Making

A procedure to prioritize the cities to utilize a building integrated photovoltaic thermal (BIPV/T) system is proposed in which the technique for order of preference by similarity to ideal solution (TOPSIS) is employed as a systematic decision-making method. Electricity generation and heat recovery in a year from the energy side, levelized cost of electricity (LCOE), and payback period (PBP) from the economic viewpoint, as well as the carbon dioxide savings from the environmental perspective, are taken into account as the decision criteria. They are the key economic, environmental, and energy (3E) performance indicators of the system. The novelty of the proposed research approach is two items. The first item is systematic and could be employed for each and every case. Moreover, another item is that selection is made based on energy, economic, and environmental (3E) criteria all together, as the important aspects of an energy system. Having introduced the procedure, it is utilized to rank five cities in Iran for the installation of BIPV/T technologies. The cities are Tehran, Tabriz, Yazd, Rasht, and Bandar Abbas, where each one is a populated city from one of the climatic conditions of the country. According to the results, a high priority is seen for two cities: the first city is Yazd with the highest ambient temperature and relative humidity among the alternatives, and the other city is Tehran, with the highest natural gas and electricity tariffs, as well as the greatest price for operating and maintenance. The values of heat recovery, electricity generation, carbon dioxide savings, PBP, and LCOE for Yazd are 42.3 MWh, 23.4 MWh, 16.8 tons, 5.48 years, and 9.45 cents per kWh. The corresponding values for Tehran are 35.6 MWh, 21.6 MWh, 15.0 tons, 2.79 years, and 8.71 cents per kWh, respectively.

Climate change and economic activity: evidence from US states

Abstract We investigate the long-term macroeconomic effects of climate change across 48 US states over the period 1963–2016 using a novel econometric strategy that links deviations of temperature and precipitation (weather) from their long-term moving-average historical norms (climate) to various state-specific economic performance indicators at the aggregate and sectoral levels. We show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labour productivity and employment in the United States. Moreover, in contrast to most cross-country results, our within US estimates tend to be asymmetrical with respect to deviations of climate variables (including precipitation) from their historical norms.

What Counts—Why Growth Economics is Failing Us

A rapidly growing body of research suggests that modern economies find themselves at existential crossroads: both prosperity and survival are a function of consumption-fueled economic growth. Prosperity seemingly depends on it; survival is made increasingly impossible by it. Economists measure economic growth by what is generally recognized as a deeply flawed yet still hegemonic economic performance indicator—GDP. This paper suggests that growth based in increased consumption is in need of reconceptualization no matter what the measure, and invites the research community of the Journal of Consumer Culture to investigate what such a research agenda might look like. Economic logic itself, this essay argues, needs to be re-embedded in science, rather than operate as a self-referential logic outside of natural boundaries. Biophysical limits force us to question economic growth as a goal. A wide range of social pathologies, furthermore, from inequality to stress to loneliness, raise deep questions about the desirability of growth. The essay is a self-conscious provocation to the discipline of economics: there is an emerging need to move beyond a conceptualization of the economy as a self-contained system of monetary market exchanges defining the relations between production, distribution, and consumption.

Life-cycle cost analysis of an innovative marine dual-fuel engine under uncertainties

As innovative technologies are being deployed to accelerate shipping decarbonization in response to air emission regulations, there is considerable concern about the cost effectiveness of such technologies from a life-cycle perspective. This study conducts a life-cycle cost analysis (LCCA) on an innovative marine dual-fuel engine under uncertainties, comparing the total life-cycle cost performance of such an engine with that of a conventional diesel engine. By proposing several economic Key Performance Indicators (KPIs) such as the Net Present Cost (NPC), the Net Saving (NS) and the Saving-to-Investment Ratio (SIR), the findings indicate that the dual-fuel engine is more cost-effective than the diesel engine under a given fuel price scenario. The uncertainties are meticulously treated by using scenario sensitivity analyses and a Monte Carlo simulation. The scenario sensitivity analyses reveal that the cost effectiveness of the dual-fuel engine is sensitive to the high gas price scenarios. It is uncovered from the Monte Carlo simulation that there is an adequate degree of confidence when opting for the dual-fuel engine. Furthermore, fuel prices are found to be the most influential cost driver. Different foreseeable carbon pricing scenarios are also simulated to show that the dual-fuel engine is still the most favorable option. Regardless of fuel prices and carbon pricing scenarios, the dual-fuel engine provides a considerable environmental benefit with a CO2 emission reduction potential of 33%. The findings of this study are of interest within the field of shipping investment appraisals and relevant to decision-makers (i.e. ship-owners and investors).

A generalised optimal design methodology for distributed energy systems

The optimal combination of energy conversion and storage technologies with local energy demand is a key but in its result not obvious challenge of distributed energy. Although a variety of possible approaches to the optimal design of limited technology selections can be found in the literature, the previous design step, the actual technology selection, and the subsequent step, the selection of the optimal operating strategy, are often neglected. We develop and demonstrate a methodology, which can optimise energy systems with arbitrary technology selection and under multi-criteria optimality definitions. The energy system modelled in oemof.solph is optimised using a MOEA/D approach with regard to economic, ecological and technical key performance indicators. The aim is to find trends and tendencies with a methodology that is as generalised as possible in order to integrate it into the decision-making process in energy system planning. We demonstrate the method by means of a German district for which an integrated supply concept is being sought. Different evaluation and visualisation possibilities are presented and the chances and limitations of the developed methodology are identified. We show that not only the choice of technology, but especially its sizing and operational strategy have a decisive influence on the optimality.

Thermal Engineering Tests of Heating Boiler Houses when Working on Peat Fuel

Modern development of society and the economy is generally accompanied by abandonment of non-renewable fuels in the system of existing attitudes toward environmental issues and resource conservation. The paper presents the results of complex operational tests of КВм-2.0 water boilers with automatic stoker and КВр-0.4K at heat supply facilities of the Arkhangelsk region under the typical operating conditions on coal, fuel mixtures, and also peat briquettes and sod peat. Experimental work was carried out using modern methods and advanced technical means. Within the framework of the research on the conversion of boilers to peat fuel, balance experiments were carried out; technical, economic and environmental performance indicators were obtained; the selection and analysis of focal residues were carried out, fine solid and soot particles polluted into the environment were studied in detail. The paper presents graphs of changes in gross efficiency, heat loss with exhaust gas, heat loss with incomplete combustion, and concentrations of sulfur and nitrogen oxides during the cycle between loading peat briquettes into the КВр-0.4K boiler, as well as graphs of changes in the heat balance components and gross efficiency all boiler units under investigation. The conversion of heat generating plants to peat fuel combustion makes it possible to achieve a significant reduction in emissions of solid and soot particles without upgrading ash-collecting plants. Complex experimental studies conducted of existing hot water boilers with a nominal heating capacity of 0.4 and 2.0 MW have shown the possibility, as well as the energy-environmental efficiency of burning briquetted and sod peat in the combustion chambers of these heat generating plants.

FDI Led Growth Hypothesis and Export Led Growth Hypothesis in ASEAN

Economic growth is a macroeconomic variable that is always the government's attention. This is because economic growth is an indicator of a country's economic performance. If economic growth grows high, then economic development goes well, so that people are more prosperous. This study aims to examine and analyze the role of FDI and exports on economic growth in ASEAN. The research method used is a causality panel with a research period of 2010-2020. The causality panel used in this study detects how the relationship between FDI, exports, and economic growth in ASEAN is. The estimation results show a unidirectional relationship between FDI to economic growth, and exports to economic growth. Therefore, the hypothesis of FDI led growth and export-led growth is acceptable. The recommendation given to each country is that it is hoped that the governments of the ASEAN region will further facilitate foreign investment permits by means of deregulation that makes it difficult for foreign investors. Recommendations related to exports are that the governments of each ASEAN country need to map out potential and non-potential exports, if potential exports are increased, while non-potential ones need to be innovated.

When do public transport investments really matter? A CGE analysis for Türkiye

In this study, the economic impact of public transport investments which have been extensively used as an investment policy tool in Türkiye is analysed from different fiscal policy and financing perspectives by employing a dynamic computable general equilibrium (CGE) model. The impact of public transport investments on key economic performance indicators of real GDP growth and unemployment and macroeconomic vulnerability indicators were investigated in alternative scenarios involving such different financing mechanisms as tax revenues, external borrowing, and public–private partnerships. The results assert that public transport investments stimulate economic growth and employment. Nevertheless, the financing mechanism is an essential factor that determines the level of the impact, its sustainability and in some cases its direction.

Watershed Level Sustainable Development Index in Rondônia, Western Amazon

Objective: to build a sustainable development index for the river basins of Rondônia, using factor analysis as an analytical model. Method: factor analysis was used as a tool for building environmental, economic, social and institutional performance indices. The adapted FECAM classification scale was adopted to express the results achieved by each river basin. Results: The set of current sustainable performance indices for the Mamoré River watersheds (0.444) was considered a low index, although the best compared to other basins; the Madeira River (0.419, low index); the Guaporé River (0.378, low index); the Machado River (0.289, low index); the Jamari River (0.307, low index) and the Roosevelt River (0.227, low index). There has been a really insignificant improvement in the rates from 10 years ago. Conclusions: the factor analysis showed efficiency as a multivariate statistical method in the construction of sustainable development indices for the river basins of Rondônia. The management of watersheds is still very ineffective, despite being regulated by state law. It is highly recommended to institutionalize regional public policies in the form of a Master Plan for the Rondônia Watershed.

Collaborative optimization of thermal and economic performances of a tower solar aided coal-fired power generation system

• New operation strategy of solar aided coal-fired power generation unit is proposed. • The system annual performances in different solar irradiation levels are studied. • Collaborative optimization of the proposed system configurations is carried out. • Multi-time scale thermal performance analyses of the proposed system are conducted. • The sensitivity analyses of the economic parameters of solar field are explored. This paper studies a novel tower solar aided coal-fired power generation (TSACPG) system with thermal energy storage (TES) system to realize the high-grade solar energy cascade utilization and puts forward an improved annual operation strategy of the system. The variations of annual electricity output from solar, annual solar to electricity efficiency and solar field levelized cost of electricity (LCOE) of the proposed TSACPG system under different solar multiples and thermal energy storage hours are explored in different level direct normal irradiation (DNI) sites. Collaborative optimizations of the TSACPG system configurations are performed by the non-dominated sorting genetic algorithm-II. The results demonstrate that the annual electricity output from solar is positively correlated with yearly DNI level and ascends with the increases of both TES hour and solar multiple. The annual solar to electricity efficiency descends with an increasing solar multiple and ascends with an increasing TES hour. The solar field LCOE will initially descend with the increase of solar multiple to the minimum and then ascend, and it will also ascend with an increasing TES hour. The improved operation strategy proposed is superior to the simple operation strategy in terms of both thermodynamic and economic performances. The pareto fronts in different level DNI sites are obtained with the simultaneous optimization of the annual electricity output from solar and the solar field LCOE. The best compromise solutions are obtained. The optimal TES hours and solar multiple values in high, medium and low level DNI sites are 14.14 h/2.64, 14.22 h/2.61 and 12.15 h/2.52, respectively. The multi-time scale analyses of the TSACPG system in different level DNI sites are conducted. The results suggest that the electricity output from solar is relatively high and the solar to electricity efficiency is comparatively low in high level DNI sites. The daily performance result implies that the system has a better performance in high level DNI site, which provides an important reference for the actual design of the system. Economic analysis reveals that the tower solar system investment payback time shows the superiority in high level DNI site and the investment payback time exhibits a trend towards shortening with an increasing coal price. Meanwhile, the sensitivity results of economic performance indexes show that the TSACPG system economic performance is closely related to the price of system components, which exhibits the impact of market changes on economic benefits for decision makers.

Multi-objective optimization of gas turbine combined cycle system considering environmental damage cost of pollution emissions

Currently, most of the performance analysis and optimization design of the gas turbine combined cycle (GTCC) units ignore the economic loss to the environment caused by the pollutant emissions. In this paper, based on the structure theory of thermoeconomics, an environmental thermoeconomic cost model is established. And then an annual total cost model is established, which can reflect the real economic performance. Based on the comprehensive analysis of the energy, economy and environment, with the objectives of the higher exergy efficiency, less annual total cost and lower specific CO2 emission rate, a multi-objective optimization study of the GTCC unit is conducted using the genetic algorithm (GA) in this paper. Pareto frontiers for the multi-objective optimization has been obtained with GA, and in turn a design plan can be selected from the Pareto frontier according to the preference. The multi-objective optimization results show that the optimized system can greatly increase the system environmental thermoeconomic performance. Moreover, the effects of main variables on the economic performance index of the optimized system are investigated. The results show that the natural gas price has the greater impact on the economic performance index compared with the pollutants environmental damage cost and the non-energy cost.

Improving the Sustainability and Profitability of Oat and Garlic Crops in a Mediterranean Agro-Ecosystem under Water-Scarce Conditions

In areas with scarce water resources, population growth and climate change scenarios will mean that there is increasingly less water available for agricultural activity. Thus, optimizing crop irrigation water management is an absolute necessity. To address this situation, the SUPROMED project (sustainable production in water-limited environments of Mediterranean agro-ecosystems), available in an online platform, brings together a series of models and methodologies designed to promote more efficient management of water, energy and fertilizers. A two-year trial (2020–2021) was implemented in the Castilla-La Mancha region (Spain), with the aim of showing the effectiveness of SUPROMED as a farm management support tool. The trial was conducted on two of the region’s most important crops (oats and garlic). A series of productive, economic, and environmental key performance indicators (KPIs) were analyzed to measure the impact of transferring MOPECO (model for the economic optimization of irrigation water use at farm level), the irrigation scheduling model integrated in the SUPROMED platform, to farmers. In 2020, the management plan proposed by SUPROMED achieved a higher yield for oat than that generated by traditional management, using 40% less water. In the case of garlic, the same yield was obtained, using 30% less water. Gross margin and gross economic irrigation water productivity were improved for both crops. In 2021, one of the selected farmers was trained to use the SUPROMED platform to work with garlic crop. This management improved most of the KPIs analyzed compared to previous management without the SUPROMED platform, obtaining similar results to those obtained by SUPROMED in 2020. The results demonstrate that the tools and models included in SUPROMED have been properly adapted and can be easily used by farmers, improving the economic and environmental sustainability of Mediterranean agroecosystems.

Performance Measurement Model for Sustainability Assessment of the Swine Supply Chain

In this paper, a model and a set of indicators for evaluating the sustainability in swine supply chains are presented and discussed. Using the Delphi method, environmental, social and economic indicators were identified (namely environmental performance indicators to evaluate soil, water, air, energy and environmental practices; social performance indicators related to human capital and social interaction; and economic performance indicators that address labor remuneration and return on investment). Subsequently, the proposed sustainability assessment model was applied for validation purposes in three different companies belonging to the swine supply chain in the southern region of Brazil. This study differs from previous ones by focusing on the sustainability assessment of the upstream and downstream of the supply chain, which are responsible for significant impacts. The performance of the studied companies from the three triple bottom-line (TBL) dimensions is significantly different. Both negative and positive impacts were found to be related to most of the specific metrics. The economic dimension presented a better performance than the environmental and social ones. Furthermore, there was a predominance of negative impacts in the environmental dimension, in relation to the soil, water, air, and energy indicators. Thus, specific actions, strategies, and policies must be designed for the different companies towards an effective and comprehensive sustainability throughout the swine supply chain. The proposed model can be extended to other companies in the same supply chain, replicated in other livestock and agribusiness industries and supply chains (such as cattle and poultry), and it can be used in different locations and including additional indicators and metrics.

How green finance reduces CO2 emissions for green economic recovery: empirical evidence from E7 economies.

The present study examines the effects of green finance on green economic performance index in the presence of income per capita, corporate social responsibilities, green energy, and technical innovations in emerging seven (E7) countries from 2005 to 2018. This study employed second-generation panel cointegration methodologies. The result of the cross-sectional dependency and slope heterogeneity test confirms that the panels are correlated and there exists slope heterogeneity. The results for the short- and long-run confirm the relationship between green economic performance index, green finance, GDPC, technological innovation, CSR, and green energy. In both the short- and long-run, green finance, technological innovation, and CSR decrease the carbon emissions and increase green economic growth, whereas income per capita and GDPC significantly increase the carbon emissions. The robustness check findings obtained D-H panel causality test validate the results. Reducing energy usage by adopting efficient technologies should be encouraged through green financing reforms implemented by policymakers.

Energy efficiency optimization of Simpson planetary gearset based dual-motor powertrains for electric vehicles

The improvement of powertrain energy efficiency is of great significance to improve the driving range of electric vehicles. This paper proposes four configurations of Simpson planetary gearset-based dual-motor powertrain (SPGDMP) and optimizes their parameters. The powertrain energy efficiency is obtained through the scalable motor model and the gear ratio-dependent transmission efficiency model. The influence of powertrain parameters is then analyzed to determine the design variables. An improved economic performance indicator with less computational cost is proposed, which can reduce the computational time by 98.82% compared with the conventional economic indicator calculated by the dynamic programming (DP) algorithm. Considering the trade-off between dynamic and economic performance, the multi-objective optimization model is proposed, which gains the discrete Pareto front by the NSGA-Ⅱ and makes the discrete Pareto front continuous by neural network fitting (NNF). The optimization results show that compared with a widely studied torque coupled dual-motor powertrain (TCDMP), SPGDMPs can reduce the energy consumption and motors power by at least 5.02% and 14.56%, respectively. The energy efficiency of SPGDMPs has a little improvement when the powertrain equips with more brakes.

Sustainability indicators in public healthcare: A factor analysis approach

Motivated by the increasing demand for integrated, value-based healthcare, this study proposes a valid measurement scale for sustainability in the healthcare sector. The model focuses on implementation strategies to foster social, environmental and broader economic value-based sustainability in healthcare. This unique holistic approach aligns with the UN SDGs agenda, focussing on environmental considerations and societal health and wellbeing through a multidimensional mix of leading economic, social and environmental performance indicators. Exploratory factor analysis revealed seven dimensions of the measurement scale for sustainability measured by 39 items. Confirmatory factor analysis has been used to confirm the factor structure of the study and the results indicate that the proposed measurement is valid. This measurement scale serves as the basis of a comprehensive benchmark, developed to assess sustainability-related performance in the healthcare industry. The study also explains the theoretical and practical implications of the findings, followed by the limitations and agenda for future research.

Measuring sustainable technology R&D innovation in China: A unified approach using DEA-SBM and projection analysis

Measuring Green Technology R&D Efficiency (GTR&DE) and identifying improvement potentials are of paramount importance for governmental policymaking on sustainable technology R&D investment. However, comprehensive evaluation of GTR&DE and integration with projection analysis are largely lacking. To support government policymaking, we propose a new DEA-SBM-PA approach integrating Data Envelopment Analysis – Slack Based Measurement (DEA-SBM) and projection analysis (PA) to identify how well sustainable R&D innovations are performing and how much improvements are needed. Based on the theory of decoupling, this study constructs a systemic framework of GTR&DE including economic, energy, and environmental performance indicators. Subsequently, the GTR&DE scores at provincial, regional, and national levels are measured by DEA-SBM model based on panel data from China’s 30 provinces during 2011–2017, and the potential GTR&DE improvements for the provinces deemed inefficient are assessed by projection analysis. Our findings reveal that implementation of green technology R&D innovation has positive impact in achieving comprehensive benefits covering economy, energy, and environment. Furthermore, the major contribution of this research is to develop a unifying framework to provide insights for policymakers, including assessment of GTR&DE at provincial, regional, and national levels, analysis of both spatial and temporal differences of GTR&DE scores at different levels, identification of efficient and inefficient provinces, and finally projecting GTR&DE improvement potentials for the provinces deemed inefficient. The findings have significant policy implications, particularly because they demonstrate the impact of an important government policy adjustment in 2015 by analyzing both before and after effects. Finally, it is discussed how government initiatives for sustainable technology R&D innovation may be supported with additional analysis in future.

Nexus between Government spending’s and Green Economic performance: Role of green finance and structure effect

In response to the dual problems of global climate change and the economic crisis, the concept of the green economy has spread beyond environmental economics and into mainstream politics and business. The green Belt and Road Initiative (BRI) is a critical component of achieving a green transition in the regional economy, as well as a key component of the United Nations 2030 Agenda for Sustainable Development. We used data envelopment analysis and system GMM techniques to measure the association between Government expenditure and the green economic performance. This method uses panel data from 2008 to 2018 in selected BRI countries. The results show that the fluctuations in the green economic performance index of BRI countries are caused by the lack of serious government policies. Moreover, the econometric findings shows that government expenditure have positive significant effect on green economic performance. Furthermore, the analysis demonstrates that public expenditure on human capital and renewable energy leads to a productive green economy through labor, and technically advance developmental practices, with varying consequences in distinctive countries. This research also includes policy recommendations for BRI countries. • Role of technological innovation for promoting the green economic performance. • Sustainable green economic development with emission reduction. • Assessment of government spending’s on green economic performance.