Economically Research Articles

What Can Economics Contribute to the Study of Terrorism? – The Power and Limitation of Economics

ABSTRACT We assess the potential of economics to contribute to the understanding of terrorism. We argue that the economic approach portraying terrorists and law enforcement agents as rational actors yoked to other disciplines is a source of precise falsifiable causal hypotheses. Theoretical economics rooted in rational choice provides precisely falsifiable hypotheses. This falsifiability makes it easier to focus on identifying causal relationships, which is essential for sound policy advice. Economists have developed a multitude of rigorous tools for causal inference ranging from instrumental variables to machine learning, which are essential in typical situations of terrorism that are beset by endogeneity problems. However, neighboring disciplines are needed to provide a rich contextual analysis that allows the assessment of the external validity of the results rigorously derived by economic analyses. Ultimately, rigorous mathematical analysis is valid only if it can capture reality wholly and simply.

Application of Lignin as Partial Binder Replacement in Magnesium Phosphate Bonded Paper Sludge Composite Products; Board Properties and Economic Analysis

AbstractThe study investigated the feasibility for partial phosphate binder replacement with lignin in phosphate bonded paper sludge composites. A central composite experimental design (CCD) was used to optimise the board manufacturing process, wherein the effect of process temperature, as well as lignin content were investigated with respect to board properties based on the ASTM D1037 standard. Moduli of rupture and elasticity of up to 7.2 MPa and 2.8 GPa respectively in the boards with lignin content of 36–43 wt% and formulation temperatures of 118–133 °C were observed. The phosphate binder input, which bears a huge cost in the process was reduced by up to 49% with lignin incorporation. The effect of pine veneer lamination on the strength properties of the composite boards was investigated. Pine veneer lamination improved mechanical properties, with the moduli of rupture and elasticity increasing from 7.2 to 22.1 MPa (67% increase) and 2.8 to 3.6 GPa (22% increase) respectively. The economic viability of the boards produced was also assessed and the results showed that the required selling price for the composite boards is competitive in the local market for inexpensive construction materials, sold at wholesale prices for between R 158/m2 and R 295/m2, depending on product finishing. Graphical Abstract

Pragmatic investigation of the effect of green and low-carbon economies on food safety in Africa

This research examines the relationship between a green economy—defined as an economy that promotes sustainable development through low-carbon, resource-efficient, and socially inclusive practices—and food safety across 37 African countries from 2005 to 2020. Drawing on data from the Food and Agricultural Organization (FAO), the Country Policy and Institutional Assessment (CPIA), and World Development Indicators, this study employs the generalized method of moments (GMM) approach to address endogeneity issues inherent in economic analyses. The findings indicate that a shift toward a greener economy significantly enhances food safety, with each one-point improvement in green economic indicators associated with a 0.24% increase in food safety levels. This underscores that as African economies reduce carbon footprints and adopt sustainable agricultural practices, they experience fewer food safety challenges, largely due to improved environmental health and reduced biodiversity loss. The study concludes that prioritizing green economic growth is essential for environmental sustainability and the agricultural sector’s stability. These insights emphasize the need for policymakers and stakeholders to implement green economy strategies that enhance both ecological resilience and food security, ultimately improving health and livelihood outcomes in African communities.This study stands apart from existing literature by uniquely focusing on the relationship between the green economy and food safety within the African context, which remains underexplored despite the continent’s pressing environmental and food security challenges. Utilizing a dynamic panel Generalized Method of Moments (GMM) model, the research rigorously addresses endogeneity concerns to provide robust insights into how environmental management and other green economy policies influence food safety outcomes across 37 African nations. This methodological approach enables more accurate capture of temporal dynamics and causal relationships, offering policymakers context-specific, evidence-based recommendations tailored to Africa's socio-economic and ecological realities.

Local institutional strategies and responses to climate change risks in the Indian Sundarbans: A political economic analysis

In this article, we use a political economic analysis in arguing that climate change risks and vulnerabilities are often produced and sustained through inappropriate, loosely designed and socially contested institutional mechanisms. Using ethnography, we contribute to the existing social science scholarship on climate vulnerability and risk by focusing on a political economic analysis of how risks are framed and responded at local institutional levels in the Indian Sundarbans. Our paper offers place-based nuances of climate politics to show how local institutions are characterised by power relations, economic incentives and political influences while facilitating and deploying climate risk management strategies. Empirical findings from our study highlight that neoliberal approaches to climate risk management facilitated by local institutions reveal predominant market mechanisms, patron–clientele relations and technologically engineered solutions to create local climate economies. From our findings, we conclude that political economy of climate change can explain why and how adaptation policies become ineffective in everyday experiences of precarious living.

An Economic Analysis of Metal-on-Metal Versus Ceramic-on-Ceramic Hip Resurfacing: Costs and Clinical Implications

Background: Ceramic may be an alternative bearing surface that could be used to deal with the negative sequalae associated with the use of metal-on-metal (MoM) hip resurfacing implants, keeping the benefits of hip resurfacing without the risks. The aim of this study is to evaluate the additional financial and logistical implications that MoM hip resurfacing has, in comparison to its ceramic-on-ceramic (CoC) counterpart. Methods: Two different follow up protocols were analysed, according to current practice guidance, on how to follow up with hip resurfacing procedures. Reference costs were identified using the latest national cost collection data and data from the local biochemistry department. The results incorporated the number of hip resurfacings performed nationally. Results: The non-MoM protocol yielded a per operation lifetime follow up cost of £802.50, whereas the MoM protocol yielded a cost of £2132.83 at 25 years. Nationally, according to the 2023 data, this amounted to £561,750 versus £1,492,981 per year, respectively. MoM hip resurfacing is 2.6 times more expensive to be followed up with when compared to the standard protocol. Conclusion: The cost of the follow up of MoM bearings far exceeds that of non-MoM bearings. If CoC hip resurfacing is as clinically effective as MoM hip resurfacing, then the economics favour CoC bearing for resurfacing.

An inter-regional input-output table series of China from 1987–2017 with integrated carbon emission data

Inter-regional input-output (IRIO) tables are essential for socioeconomic and environmental analysis. This paper compiled a continuous time series of Chinese IRIO tables with a detailed regional and sectoral classification, covering a longer period from 1987 to 2017 than existing Chinese IRIO tables. Additionally, we integrated the China provincial CO2 emission inventory data (1987–2017) to analyze trends and identify the main driving factors behind regional economic linkages and carbon emissions changes. Specifically, we adjusted the initial values of the international and interprovincial imports and exports using customs data. Subsequently, we employed the minimum cross-entropy model to balance the adjusted input-output tables (IOTs) from both row and column perspectives. Following this, we estimated the interprovincial trade flow for each sector using the gravity model. Then, we balanced these estimates with the minimum cross-entropy model to form the multi-regional input-output (MRIO) table. Finally, we constructed the IRIO table based on the proportion assumption. The compiled IRIO tables, integrated with carbon emission data, have significant applications in regional economic analysis, policy evaluation, and environmental studies.

Thermodynamic integration in combined fuel and power plants producing low carbon hydrogen and power with CCUS

Demand for low-carbon sources of hydrogen and power is expected to rise dramatically in the coming years. Individually, steam methane reformers (SMRs) and combined cycle gas power plants (CCGTs), when combined with carbon capture utilisation and storage (CCUS), can produce large quantities of on-demand decarbonised hydrogen and power respectively. The ongoing trend towards the development of CCUS clusters means that both processes may operate in close proximity, taking advantage of a common infrastructure for natural gas supply, electricity grid connection and the CO2 transport and storage network. This work improves on a previously described novel integration process, which utilizes flue gas sequential combustion to incorporate the SMR process into the CCGT cycle in a single “combined fuel and power” (CFP) plant, by increasing the level of thermodynamic integration through the merger of the steam cycles and a redesign of the heat recovery system. This increases the 2nd law thermal efficiency by 2.6% points over un-integrated processes and 1.9% points the previous integration design. Using a conventional 35% wt. monoethanolamine (MEA) CO2 capture process designed to achieve two distinct and previously unexplored CO2 capture fractions; 95% gross and, 100% fossil (CO2 generated is equal to the quantity of CO2 captured). The CFP configuration reduces the overall quantity of flue gas to be processed by 36%–37% and increases the average CO2 concentration of the flue gas to be treated from 9.9% to 14.4% (wet). This decreases the absorber packing volume requirements by 41%–56% and decreases the specific reboiler duty by 5.5% from 3.46–3.67 GJ/tCO2 to 3.27–3.46 GJ/tCO2, further increasing the 2nd law thermal efficiency gains to 3.8%–4.4% points over the un-integrated case. A first of a kind techno economic analysis concludes that the improvements present in a CO2 abated CFP plant results in a 15.1%–17.3% and 7.6%–8.0% decrease in capital and operational expenditure respectively for the CO2 capture cases. This translates to an increase in the internal rate of return over the base hurdle rate of 7.5%–7.8%, highlighting the potential for substantial cost reductions presented by the CFP configuration.

Assessment of Possibilities of Using Local Renewable Resources in Road Infrastructure Facilities—A Case Study from Poland

The rising demand for water and energy is driving the overuse of natural resources and contributing to environmental degradation. To address these challenges, the focus has shifted to low- and zero-emission technologies that utilize alternative sources of water and energy. Although such systems are commonly applied in residential, commercial, and industrial buildings, facilities along transportation routes generally depend on grid connections. This study aimed to enhance operational independence and reduce environmental impacts by modernizing the Rest Area Stobierna (RAS) along Poland’s S19 expressway, part of the Via Carpatia road. A comprehensive technical, economic, and environmental analysis was conducted using HOMER Pro software (3.18.3 PRO Edition) and a simulation model based on YAS operating principles. The proposed Hybrid Renewable Energy System (HRES) incorporates photovoltaic panels, battery storage, and a rainwater harvesting system (RWHS). Two configurations of the HRES were evaluated, a prosumer-based setup and a hybrid-island mode. Optimization results showed that the hybrid-island configuration was most effective, achieving a 61.6% share of renewable energy in the annual balance, a 7.1-year return on investment, a EUR 0.77 million reduction in Net Present Cost (NPC), and a 75,002 kg decrease in CO2 emissions over the system’s 25-year lifecycle. This study highlights the potential of integrating renewable energy and water systems to improve sustainability, reduce operational costs, and enhance service quality in road infrastructure facilities, offering a replicable model for similar contexts.

Thermodynamic and Economic Analysis of Supercritical Water Gasification Low Carbon Emission Ammonia-Electricity Cogeneration System with Dual Chemical Looping Processes

Thermodynamic and Economic Analysis of Supercritical Water Gasification Low Carbon Emission Ammonia-Electricity Cogeneration System with Dual Chemical Looping Processes

Ecosystem style of thinking in economic analysis: principle of unity of the continuous and the discrete

Objective: to substantiate the unity of the discrete and the continuous in the socio-economic ecosystems theory development. Methods: system economic theory; the theory of the system structure influence on the changing homogeneity of the intraecosystem space-time; the systemic-integrational theory of an enterprise; the principle of complementarity. Results: the article substantiates the expediency of introducing the “ecosystem style of thinking” concept into scientific circulation. It is shown that the basic principle of the ecosystem style of thinking is the principle of complementarity, expressed as the unity of the continuous and the discrete. This principle is due to the inherent characteristic of the ecosystem – a combination of continuity and discreteness of its intra-ecosystem space-time (in particular, a combination of homogeneity and diversity of relationships between ecosystem participants). In order to form methods for determining the qualitative relationship between the ecosystem homogeneity and heterogeneity, the author proposes a typology of relationships between ecosystem participants, formed on the basis of the systemic-integrational theory of an enterprise. The paper substantiates the importance of a rational correlation of the homogeneity and diversity of the ecosystem space-time for the ecosystem functioning and for identifying the imbalances in the ecosystem spatiotemporal development. Scientific novelty: It was found that the main characteristic of the ecosystem style of thinking is the principle of unity of the continuous and the discrete in economic analysis. The author concludes that the ecosystem style of thinking is based on the post-non-classical style of thinking as interpreted by V. S. Stepin. The article proposes a typology of the economic analysis principles and substantiates the typology of relationships in the ecosystem based on the system integration theory of an enterprise. The author draws attention to the need for a rational balance between homogeneity and diversity in the ecosystem relationships for its functioning. Practical significance: the research expands the arsenal of objective methods for studying economic phenomena and processes by applying the ecosystem approach principles.

Investigation of a Cogeneration System Combining a Solid Oxide Fuel Cell and the Organic Rankine Cycle: Parametric Analysis and Multi-Objective Optimization

A novel solid oxide fuel cell (SOFC)-based cogeneration system is proposed here, integrating an organic Rankine cycle for waste heat recovery. Technical–economic and parametric analyses are conducted, and a multi-objective optimization is carried out. The results reveal that the net electrical efficiency, investment cost, and payback time are 56.6%, USD 2,408,256, and 3.27 years, respectively. The parametric analysis indicates that the current density should be limited between 0.3 A/cm2 and 0.9 A/cm2, and the stack temperature should be controlled between 675 °C and 875 °C. After the operational optimization of ηele-CostTCI, the investment cost and the net electrical efficiency are obtained as USD 2,164,742 and 62.1%. After the ηele-PBT optimization, the payback period and the net electrical efficiency are 3.22 years and 58.9%. The heat transfer network optimization achieves the highest efficiency and reduces the cold utilities by 43 kW, but three additional heat exchangers should be added to the system. This research provides practical reference and pragmatic guidance for the integration, analysis, operation, and heat transfer network optimization of SOFC-based cogeneration systems.

Predicting sustainability for slowtourism events

<p>The increasing demand for slow tourism in rural regions is leading many organizations to reorganize events by planning new strategies able to predict the impact of incoming visitors and new stakeholders. Typical economic benefit-cost analysis often cannot be used in such contexts in which it is hard to predict socio-economic impacts that are the most relevant. In this way, a methodology like the SROI Method, based on a wide set of indicators and a flexible analytical method, could give a prediction estimation useful to predict socio-economic impacts and tailored for a wide set of people. In this paper we consider three examples taken from small villages around Rome for which a set of events has been analyzed through a revised SROI Method in which we calculate the corresponding SROI value and compare it under a set of revised stages named as—SMARTOUR SROI focused on Slow Tourism Planning. The proposed evaluation methodology obtained by the application of the SROI Method to smart tourism stages is a first example of new sustainable analysis for slow tourism. The result shows that the methodology always gives a positive evaluation by highlighting the main issues related to the impact of slow tourism in such emerging scenarios. Moreover, in the discussion we can show that the case of the historical train example gives the best result due to the particular impact of such a typical scenario.</p>

Social, Cultural and Economic Analysis of Post-Pandemic Public Health (COVID-19) in the Case of Peru: an Evaluation of Approaches to Promote Health and Well-Being Within the Framework of the SDG

Objective: To examine the social, cultural, and economic consequences of the pandemic on public health in Peru, recognizing challenges and possibilities to strengthen the system, given that the pandemic aggravated existing inequalities, disproportionately impacting vulnerable groups, such as rural communities and individuals living in poverty, an evaluation of approaches to promote health and well-being within the framework of the SDG. Theoretical framework: This research analyzes the way in which the pandemic has impacted several aspects of public health in the country, in a post-COVID-19 pandemic scenario that showed and aggravated the already existing weaknesses in the Peruvian health system, marked by its fragmentation and restrictions in infrastructure and human resources. Method: A qualitative approach based on a documentary review and critical analysis was used for the development of the research. Research implications: Lack of access to high-quality health services and unfavorable living conditions contributed to an increase in COVID-19 incidence and mortality in these groups. In cultural terms, distrust of the official health system and inclination towards traditional medicines impacted the community reaction to the virus. In economic terms, the pandemic severely impacted the middle class, decreasing its magnitude from 43.6% in 2019 to 24% in 2020, canceling out a decade of economic progress. Results and discussion: The infodemic, or excess of information, including rumors and misinformation, made it difficult to implement effective public health strategies. In addition to job losses and reduced incomes, they restrict access to health services, intensifying pre-existing inequalities. Originality/Value: To enhance public health in Peru after the pandemic, it is crucial to address social inequalities.

Sraffa Goes to Space: Spatial Elements of Political Economy

ABSTRACT The Sraffian tradition has mostly overlooked the role of space, treating it as a static and abstract concept. This work introduces a fresh perspective, with a reappraisal of its significance in economic modeling and the examination of the locational distribution of economic agents. Our research bridges the gap in economic theories between the Surplus approach and the Critical Quantitative Geography literature. This study has multiple objectives. First, the reappraisal of the linkages between these two theories occurred from the publication of Sraffa's seminal contribution. Second, novel concepts such as space capacity, the physical location of workers, and its simple graphical representation are introduced. Third, a demand-side closure of the model in line with the Sraffian Supermultiplier tradition. In conclusion, our research introduces a novel possibility to incorporate space into economic analysis, shedding light on how the spatial distribution of economic agents affects prices, distribution, and growth. Space as much as institutions, should play a central role in economic analysis. The direction taken in this work promises to facilitate the exchange of ideas between Critical Geography and the Surplus Approach literature, offering valuable insights for policy-making and a better understanding of regional economic dynamics.

El Sector Metalmecánico En El Noroeste Del Gba. Una Mirada Al Desarrollo Local Con Eje En Las Pymes

This article offers a characterization of the metal-mechanical sector in the northwest of Greater Buenos Aires, particularly in the districts of José C. Paz, San Miguel and Malvinas Argentinas. Based on approaches to local development, we focus on the geographical dimension of the economic framework and SME entrepreneurship. The research includes georeferenced surveys of economic units, cataloging and analysis from a territorial dimension; and also visits to establishments and interviews with their top managers. With this, we seek to advance in the construction of knowledge about the organization of work in metalworking SMEs in the region, their potential for articulation in value chains and weighing the non-economic dimensions of local development.

MODELS OF MARKETING ACTIVITY IN AN INDUSTRIAL ENTERPRISE

The article presents the results of a study of theoretical, methodological and practical aspects of marketing activities at industrial enterprises, systematized in the form of three functional models of marketing activities implemented at industrial enterprises, taking into account the specific features of changes in marketing activities depending on the functional marketing model implemented at the enterprise. The research uses traditional methods of scientific analysis, including technical, economic and logical analysis, systematization and ranking. The analysis takes into account that the dynamic nature of the external environment of enterprises implies constant changes in the criteria of competitiveness and efficiency, leading to the emergence of new business goals, new tools and methods of work, changes in the ownership structure, relationships, the development of new functions and directions, diversification and integration. The obtained results can be used at an industrial enterprise when changing the model of marketing activities, as in the conditions of the formation of technological independence of the Russian Federation the most important task is to ensure the market orientation of the production capabilities of domestic enterprises.

Intrahousehold Decision Making and Fertility Choices in Rural Senegal and Uganda

Feminist economic approaches have transformed mainstream economic analysis to better account for intrahousehold decision making. To quantify decision making, studies resort to self-reported survey-based measures, derived from questions directed to household members, or proxy-variable methods. This study uses a choice experiment, a stated preference method, implemented in rural Senegal and Uganda and specifically distinguishes between individual and household choices to analyze spouses’ preferences on fertility and child raising and calculate a decision-making coefficient. Findings show individual fertility preferences of men and women cannot substitute for household-level choices, and intrahousehold decision making concerning fertility and child raising is region specific. While in Uganda household fertility choices reflect a balance between the spouses’ fertility preferences, in Senegal these choices seem more dominated by the husband’s preference. This study demonstrates the importance of considering the adequate decision-making unit when designing family planning and child-centered programs and of using a region-specific approach. HIGHLIGHTS Analyzing spousal fertility and child-raising choices provides an alternative to traditional proxies for intrahousehold decision making. Choice experimental data and methods enables the calculation of a decision-making coefficient. Individual fertility preferences cannot substitute for household-level choices. Considering the adequate gender and decision-making unit is crucial in designing family planning programs.

The internationalization of Chinese social sciences research: publication, collaboration, and citation patterns in economics, education, and political science

ABSTRACT Despite recent Chinese government policies aiming to balance international and national publishing patterns, the enduring impact on China's global engagements, publications, and collaborations remains uncertain. Analyzing 8,962 publications from Scopus between 2016 and 2020, the paper assesses publication, collaboration, and citation patterns among the top 500 productive China-affiliated scholars within Economics, Education, and Political Science. Results indicate that publications are primarily in Western journals, with Political Science often focusing on China-specific issues, suggesting potential ‘silos’. Co-authorship patterns show Western dominance, with diverse international collaborations in Education and Economics, but more national-focused in Political Science. The paper concludes with discussions on practical implications and study limitations.

Economic Analysis of Renewable Energy Generation from a Multi-Energy Installation in a Single-Family House

The promotion of Renewable Energy Sources RES installations in single-family houses is an element of the broadly understood decarbonisation strategy. Investments in photovoltaic installations and pellet boilers have a direct effect on decreasing CO2 emissions, thereby contributing to the improvement in air quality and mitigation of climate change, but the question remains of whether they are economically viable. High energy consumption by households results in a significant burden on their budgets. The purpose of this study was to conduct an economic analysis of the renewable electricity (photovoltaic microinstallation—PV) and heat (a pellet boiler) produced in three consecutive years by a single family situated in North-Eastern Poland. The economic analysis was based on the determination of the electricity and heat production costs for renewable energy sources and selected fossil fuels. Profitability metrics such as net present value, internal rate of return and discounted payback period were used for the assessment. For the comparison of electricity costs, the costs of electricity from the power grid were confronted with the costs of electricity generation from a PV microinstallation. For the comparison of heat production costs, the following scenarios were analysed: (i) eco-pea coal vs. pellet, (ii) natural gas vs. pellet and (iii) heating oil vs. pellet. Next, comparisons were made and analysed for multi-energy systems. When comparing the PV microinstallation investment with the variant of using electricity from the power grid, a positive NPV equal to EUR 5959 was obtained for the former, which proved it was profitable. Among the heat generation variants, the lowest total costs were related to eco-pea coal (EUR 29,527), followed by pellet (EUR 33,151) and then natural gas (EUR 39,802), while the highest costs of heat generation were attributed to burning heating oil (EUR 63,445), being nearly twice as high as the cost of burning pellets. This analysis of multi-energy systems showed that the RES system composed of a PV microinstallation for electricity production and a pellet-fired boiler for heat generation was most advantageous because it yielded the lowest total costs (EUR 41,265) among all the analysed variants. A properly selected PV microinstallation and an automatic pellet-fired boiler can make a single-family house economical and provide it with sufficient amounts of renewable electric and heat power throughout the year.

Potential for Cattle Business Development in the Buffer Zone of Mount Leuser National Park, Bahorok District, Indonesia

Local communities in Bahorok District are highly dependent on the agricultural and livestock sectors as their main livelihoods. The environment and abundant natural resources cause a profitable for the community to raise livestock.This study aims to to examine potential development of cattle farming (financial and economic aspects) in the buffer zone of Gunung Leuser National Park, Bahorok District.The type of data used in this study is primary data obtained through observation and interviews and secondary data through literature and the North Sumatra Central Statistics Agency. Determination of the sample by Purposive Sampling with 100 cattle breeders. Data analysis was carried out by calculating income, financial analysis of Net Present Value (NPV), Net Benefit-Cost (B/C), Payback Period (PP), and economic analysis. The results of this study indicate that the average income of cattle breeders in the Buffer Zone of Gunung Leuser National Park, Bahorok District is IDR 24,551,421 for semi-intensive and IDR 8,235,155 for extensive per year. The income of breeders can cover production costs so that income is positive or profitable. The cattle farming business shows that by using an interest rate of 8%, the NPV is obtained >0 or has a positive value, the Gross B/C value is obtained 1.97 and the Net B/C value is 1.25, meaning BCR>1 means a positive value, the PP value is 3.1 and 4.2 years, and the economic analysis shows that the cattle farming business has an important role in the economy in Bahorok District