Economic Sectors Research Articles

Assessment of exchange rate determination in a mono-resource economy: A case of Nigeria

<p style="text-align:justify"><span style="font-size:16px"><span style="font-family:Times New Roman,Times,serif"><span dir="ltr" lang="EN-US"><span style="color:black">This study examined the determinants of the exchange rate in a mono-resource economy, during the period of currency and oil price fall in Nigeria. The aim of the study is to ascertain the potentiality of economic diversification (non-oil export) in saving the falling value of the domestic currency, as well as, its stability. The study employed the use of monthly data from the Central Bank of Nigeria and Nigeria National Petroleum Corporation from January 2008 to December 2020 using the ARDL and NARDL models to achieve the stated objectives. In the literature, several empirical studies analyzed the relationship between exchange rates, oil price, and oil export and came to the logical conclusion that a rise in the price of oil would bring about a rise in the exchange rate, all things being equal while the reverse is the case. To add to the existing body of knowledge this study did not only look at the relationship between the variables but also examined the determinants of the exchange rate in a mono-resource economy and ascertained the potentiality of economic diversification in bringing succor to the falling exchange rate in the midst of falling oil price. The NARDL result corroborates the findings of previous studies on the relationship between exchange rate, oil price, and the performance of non-oil export. It maintains that positive changes in oil prices would lead to the appreciation of domestic currency while negative changes in oil prices would lead to the depreciation of the domestic currency. With this analysis, the study recommends the diversification of the economy and revitalization of the non-oil sector. Since import proves to have a negative impact on the exchange rate, the revitalization of the non-oil sector stimulates domestic consumption and thus reduces import bills which raise the demand for the dollar and weakens the naira.</span></span></span></span></p>

Investigation on implementing the swarm nano grid system for effective utilization of solar-powered agro-industries

The agro-industry is the backbone of the global economy, even in the twenty-first century. The agro-industry would not be what it is now without irrigation. The production and use of renewable energy in this sector of the agricultural economy have also expanded rapidly in recent years. Base-load power production and conversions dominate the literature. This research examines user concerns. The swarm nano grid system fixes this. The pulse width modulation (PWM) sinusoidal inverter converted stable DC power from the bidirectional DC-DC converter into sinusoidal AC voltage for the irrigation pump induction motor. Solar panels, batteries, and converters are costly, but they pay off. The nano grid distributes excess power generated during low demand to local loads. This technique works well when the load can be disconnected from the power grid. MATLAB is used to keep an eye on the reliability and efficiency of the induction motor. In the first simulation, solar power generation is modeled using the MATLAB Simulink software in two distinct modes. A PWM sinusoidal inverter that is driven by solar energy is what provides power to the 5.67 kW induction submersible motor. The simulation result provides a conceptual model of how induction motors powered by renewable energy sources function in practice.

Use of Metallic Mercury in Artisanal Gold Mining by Amalgamation: A Review of Temporal and Spatial Trends and Environmental Pollution

The introduction of mercury (Hg) into the environment by anthropogenic activities has resulted in negative implications for ecosystem functions and human health. Unlike the legacy of huge environmental pollution left by historic gold rushes in several developed countries, gold-rich nations in the developing world are currently witnessing what could qualify as a “new gold rush”, conducted primarily by small-scale mining operators and characterized by the use of metallic Hg (Hg0) in the amalgamation process to extract gold from crude ores. Once introduced into the environment, Hg0 can undergo biogeochemical transformations to produce Hg species such as methyl-Hg, with well-established adverse impacts on living organisms. This review summarizes published data on both historical and recent trends of the use of Hg0 in artisanal gold mining (AGM) on a global scale and emphasizes the impacts of AGM on the environment. To achieve this, we used citations from research conducted in North and South America, Europe, Asia, Africa, Australia, and New Zealand, obtained from several search engines and databases. Our findings show that, in addition to the well-known environmental and human health adverse effects of gold mining with Hg0, gold extraction by the Hg amalgamation technique is boosting the economy in parts of Africa, South America, and Asia. Unfortunately, this appealing aspect of AGM may not be easily halted, pending the creation of alternative employment. Therefore, there is a clear need for the development of safe and affordable gold extraction and purification technologies. Ultimately, the growth of this specific economic sector should be regulated to help protect both the environment and human health. Information compiled in this review should help to (i) improve the mapping of AGM-impacted soil and aquatic systems on a global scale and (ii) stimulate discussions and research on how to take down current barriers to the development and implementation of safe AGM methods.

Towards Social Europe? Obstacles and opportunities in the multi‐level governance of welfare states

AbstractSocial Europe, or the social dimension of the European Union (EU), has been receiving increasing attention in academic debates. This special issue introduction discusses Social Europe through the analytical framework of multi‐level governance while asking, perhaps controversially, whether Social Europe has the potential to become a fully‐fledged welfare state. This introduction also summarises the articles included in this special issue which focus on different governance levels, including EU institutions, member states, national parties, economic sectors, workers and the general public. On this basis, the introduction identifies sources of challenges and opportunities for Social Europe from various levels of governance. We conclude that the needs and demands become more diverse when we move from European institutions to the citizens. Notably, obstacles from one governance level often carry over to another governance level. Consequently, it becomes much more difficult to design welfare policies on the EU level that work for everyone. While a more evolved EU‐level welfare state may be possible in the future, substantial obstacles make it difficult to achieve in the short run. Hence, future research should examine the multi‐level structure of Social Europe in more detail to better grasp what Social Europe can and cannot deliver and why. Such research is not only relevant in the European Union but also in other multi‐level governance systems across the world.

5G- Analysis and Characteristics in Comparison with Previous Generations

This paper explores the architecture and remarkable advantages of 5G technology in the current industry of wireless communication. The paper covers details of the recently developed 5th generation of networks and how its benefits overpower its drawbacks, majorly being its impact on health and environment. This study helps understanding 5G and highlights how this recent advancement has better chances of helping with wide area network connectivity, latency, economic growth, enhanced security features etc. While advancements in the cellular network technology continue to be one of the most important developments in the economic, telecom and healthcare sector among many others, many common beliefs about 5G which can be listed as its “drawbacks” have been brought to people’s attention recently, and with proper facts and studies, it can be easily proved how 5G, till this date, has no significant harm to any area, and simply has a few complexities which are natural with any advancement in technology. The paper covers the characteristics of the 5G network, and addresses common misconceptions and concerns surrounding health, security, and infrastructure.

AI and the decision-making process: a literature review in healthcare, financial, and technology sectors

ABSTRACT Artificial intelligence is a key technology driving digital transformation across all economic sectors. The prospects and threats of AI in decision-making have been central to public and research debates recently. This paper explores AI’s impact on decision-making, identifying both opportunities and challenges in healthcare, financial, and technology sectors. Based on a systematic literature review of 118 papers from 2020–2023, the findings show that most scholars are optimistic about AI’s potential. They suggest that the challenges posed by AI can be addressed through technical, regulatory, and managerial approaches. While AI often serves as a cognitive assistant in data collection and evaluation, its role in decision-making is expected to grow as the technology becomes more institutionalized.

Risk-based dynamic inoperability input-output and non-linear optimisation models to analyse resilience in the construction industry

Pakistan has faced significant economic losses due to catastrophes, specifically floods. This study aims to assess the ripple effects of the 2022 floods, focusing on the Construction Industry, which has been gaining importance in the national economy, and on the resilience of economic sectors absorbing the negative shocks from floods. The study uses the Asian Development Bank's (ADB) Input-Output database for Pakistan using the Dynamic Inoperability Input-Output Model (DIIM) with the Fuzzy Full Consistency Method (F-FUCOM). The analysis revealed that the Construction Industry’s weak resilience resulted in a prolonged recovery period and that the lack of flood risk mitigation infrastructure was identified as the most critical. The results suggest that policymakers prioritise such infrastructures, like dams, early warning systems, and transportation infrastructure, to enhance the resilience of the overall economy.

Various Applications of Dynamic Programming (D.P.) in the Iraqi Economy

The main objective of this research is to conduct some applications of dynamic programming in the Iraqi economy in order to determine the optimal solution, such as distributing investments among some economic sectors or finding the shortest distance between provinces using the Bellman-Ford algorithm. This includes providing some hypothetical examples of other dynamic programming methods such as the traveling salesman problem or the captain's ship model, as it is sometimes called. Dynamic programming revolves around cost reduction and maximizing returns, also known as optimality. Practical studies have been conducted on the shortest distance between provinces of Middle Euphrates in Iraq, in addition to applying the knapsack method to maximize returns in some economic sectors in Iraq for the year 2007.

Examining the Relationship between Economic Diversification and Sectoral Linkages: Insights from the Iraqi Economy

Economic diversification is considered one of the important factors in driving economic growth, sectoral growth, and creating economic linkages between the sectors of the national economy. In Iraq, the relative importance of the oil sector in the gross domestic product is higher compared to other sectors such as agriculture and industry, where economic diversification and sectoral linkages are absent, as Iraq is considered a rent-based, one-sided country that lacks diversification of the export and production structure. This research assesses the status of economic diversification in Iraq and the role of intersectoral linkages in facilitating or hindering this process. Overall, the research followed a structured, inductive approach, utilizing secondary data sources and a combination of descriptive and analytical techniques to address the research objectives. Results showed that the relative contribution of the agricultural sector to GDP in 2010 was 5%, and for the industrial sector it was 2.3%, while the direct forward linkages of the agricultural sector were 4%, for the industrial sector 14%, and the indirect linkages were 1.59% for the industrial sector and 1.74% for the transport and communications sector. The research proposes establishing a broad-based manufacturing industry in Iraq that is driven by intersectoral linkages and dependence on domestic economic resources.

Today’s Trends of Software Product Import-Substitution in Conditions of Economy Digitalization

Today software import-substitution in spheres and sectors of Russian economy is a priority trend in state programs being realized in the Russian Federation. The author analyzed governmental decisions concerning software import-substitution, studied software introduced in substituting foreign software at enterprises of Russian economy, showed its developers and prospects of its development. Apart from that, the article underlined that by 2025 according to state programs home-made software shall be used by organizations related to entities of critical information infrastructure such as banking sector, missile and space industry, military-industrial complex, nuclear and mining industry, public health service, science, iron-and-steel making and chemicals industry. At the same time import-substitution policy in general promotes upgrading of the payments balance structure, development of the academic sector and innovation technologies, growth in effective communication with developers of economic projects, where software is functioning, increase in the level and diversity of means and methods of information security, technological independence, population employment, cutting risks and raising competitiveness of industries and sectors of Russian economy. In line with numerous positive moments import-substitution policy demonstrates such drawback as closeness from some innovation of global economy. However, in conditions of sanctions the development of our own software, its efficient use in economic entities can provides cyber-security and technological independence.

Forecasting Limits of Feasible Organization Growth by Using Key Predictors of Organizational Transformation

The article studies methodological approach, advanced by the author, to using key predictors of organizational transformation necessary to forecast limits of feasible organization growth within the frames of the present production structure. The principle distinguishing feature of this methodological approach is the use of indicators defined by the author as key predictors of organizational transformation. This set of indicators was identified by the author through results of earlier statistical research of transformation laws of organization production structure in different sectors of economy. With the help of such indicators it is possible not only to describe the predominant type of organization production structure but also, on the basis of their quantitative values, to identify limits of corresponding level of its development. Methodological approach advanced by the author is based on statistical methods of research and gives an opportunity to forecast limits of feasible organization growth based on the earlier developed method of their production structure. Within the frames of the given methodological approach the method of statistical forecasting limits of feasible organization growth was elaborated. The use of this methodology could allow organization management to forecast in advance the moments of coming organizational transformation, which is connected with changes in production structure type and to make necessary managerial decisions.

САНКЦИИ КАК ДВИЖУЩАЯ СИЛА РАЗВИТИЯ ЭКОНОМИКИ РОССИИ

The article examines the role of sanctions as a driving force in the development of the Russian economy. The study is based on an analysis of the impact of sanctions on various sectors of the Russian economy and their impact on the country's development trends. Both positive and negative aspects of the impact of sanctions on the economy are considered, and their role in stimulating internal changes and modernization of the economy is assessed. The article also analyzes the strategies adopted by the Russian government in response to sanctions and their effectiveness in achieving economic goals. Based on existing data and economic trends, the author draws conclusions about how sanctions shape Russia's economic dynamics and affect its development in the long term.

Sustainable Financing for Renewable Energy: Examining the Impact of Sectoral Economy on Renewable Energy Consumption

Sustainable Financing for Renewable Energy: Examining the Impact of Sectoral Economy on Renewable Energy Consumption

Impacts of Weather Variability on the International Tourism Receipts—Evidence from Ethiopia (1995–2019)

Every economic sector is susceptible to the direct or indirect effects of weather variability, and the tourism sector is no exception. In fact, the tourism industry is considered to be more vulnerable to the effects of weather variability than the general economy, with changes in weather patterns, extreme events, and environmental degradation offering substantial obstacles. Ethiopia’s tourism industry, like many others, faces challenges from weather variability. This study investigates the short- and long-term effects of weather variability on Ethiopia’s international tourism receipts. Utilizing data from 1995 to 2019, the research employs a vector error correction model to analyze the relationships between weather variables (temperature, rainfall), economic factors (GDP growth, inflation), political stability, and tourist arrivals. The findings reveal that in the long run, higher temperatures, rainfall, and inflation have negative impacts on tourism receipts, while political stability and past tourist arrivals have positive effects. Short-term trends mirror these, with the addition of GDP growth not showing a significant impact. To ensure the sustainability of tourism in Ethiopia, the study emphasizes the importance of understanding weather’s influence, developing adaptation strategies, and promoting sustainable tourism practices.

DIGITAL NOMADS: THE WHOLE WORLD AS A GLOBAL OFFICE

New technologies and high-speed Internet have enabled great flexibility in work. A digital nomad is simultaneously independent and lives and works in several places! A digital nomad is an entrepreneur or employee who almost exclusively uses digital technologies for his business activity. Croatia has caught up with the global trend of regulating the status of digital nomads and ranks highly in the rankings of destinations desirable for digital nomads. Since January 2021, when the visa program for digital nomads was introduced, a total of 2,560 applications have been received and a total of 1,038 have been approved. Croatia is one of the first EU members to regulate one-year residence and strategically develop the offer of the interesting economic and tourism sector. Digital nomads are excellent potential tourism ambassadors since they often migrate and have rich experience of staying in other countries. In a survey, the majority of respondents confirmed that Croatia is the preferred destination for digital nomads. The aim of this paper is to confirm the potential of digital nomads. The scientific contribution is manifested in the detection of the benefits of the further development of digital nomads as a profession of the future.

Capacity Building for Ubi Cilembu Roasted Sweet Potato Small and Medium Enterprises (SMEs) Community at Warung Salapan, Bandung, Through Accounting Information System 'SI APIK' and 'Green Accounting' to Support Sustainable Business

Cilembu Sweet Potato Roastery at Warung Salapan Bandung. Small and medium-sized enterprises (SMEs) operating in the culinary sector often encounter challenges in financial management due to the continued use of manual methods for financial record-keeping. Furthermore, environmental considerations are of paramount importance in this business, given that Cilembu Sweet Potato is the primary ingredient in the culinary products produced, and effective waste management is crucial for sustaining this business. The objective of this Community Service Activity (PKM) is to enhance financial management capabilities through the use of an Accounting Information System. Additionally, providing insights into green accounting can contribute to raising environmental awareness and responsibility among SME stakeholders, thus aiding in the reduction of the environmental impact resulting from business activities while promoting sustainable SMEs. This Community Service Activity offers various methods and approaches to address these issues. These include training sessions, which equip SME stakeholders with knowledge of green accounting and enhance their proficiency in the 'SI APIK' Accounting Information System. The outcomes of this activity reflect its positive contribution to supporting sustainable SME growth and promoting environmental awareness in Warung Salapan Bandung. It also empowers SME owners to manage their businesses more effectively. Additionally, it leads to increased empowerment of partners, higher revenues for partners engaged in the economic sector, and improved understanding and skills within the community.

Diagnosis of The Training of Business Administrators of The National School of Sports and Its Incidence on The Generation of Soft Skills Year 2023

Objective: The research carries out a diagnosis of the training of business administrators and its impact on the generation of soft skills of the students of the program, at the National Sports School University Institution for the year 2023. Method: A theoretical-empirical investigation was carried out, whose approach is descriptive, keeping in mind the objective to be achieved. Reflecting whether the training activities in which the student is involved really contribute to the development of soft skills. Starting from the idea of ​​the constant change that is evident today in the capture of human capital by organizations, turning the above into a fundamental and necessary point for the evaluation of human capital. Research Findings and Discussions: The labor field was identified as a generating source of soft skills in the majority of the research participants, being of utmost importance the incursion into the program of activities that generate the previous ones, starting from the confrontation of the academic field with the economic sector, in simulated environments. Implications of the research: The research involved determining the scope and limitations of business administrator training around soft skills, a fundamental aspect regarding the student's employment relationship. Value originality: This research helps higher education entities identify adjustments or changes that they must make regarding the training of business administrators in favor of a successful connection to the labor field.

Analisis Struktur Kinerja dan Konsep Keunggulan Komparatif Industri

Industry is a crucial sector in a country's economy because it contributes significantly to economic growth, job creation and social welfare. This article aims to analyze the structure of industrial performance and the concept of comparative advantage in Indonesia. The industry performance structure is evaluated based on allocative efficiency, technical efficiency, inflation effects, equality, technological progress, product quality, employment opportunities and profits. The concept of comparative advantage explains that a country gains advantages by specializing in the production and export of goods or services that have relatively lower production costs compared to other countries. This analysis focuses on various factors that influence industry performance, such as the number and size of companies, level of product differentiation, market entry and exit barriers, government policies, macroeconomic conditions, technological developments, and globalization. By implementing comparative advantage strategies, such as production efficiency, developing workforce skills, and improving infrastructure, it is hoped that it can increase the competitiveness of Indonesian industry in the global market. This article provides strategic recommendations to improve the performance and competitiveness of Indonesian industry, including the importance of specialization, increased market access, and industrial collaboration.

Traumatic Discourse in Scholastique Mukasonga’s Cockroaches and Illuminée Nganemariya’s Miracle in Kigali

This study examines the traumatic journeys of Scholastique Mukasonga in Cockroaches and Illuminée Nganemariya in Miracle in Kigali. The thematic focus of these literary tests explicates the challenges faced by these authors and how they have affected their sociological and psychological wellbeing. 1994 in Rwanda, a genocide presumed to be one of the deadliest attacks on the human race occurred, its effects spanning every sphere: political, religious, economic and educational sectors since its occurrence. The resulting violence and its lingering traumatic effects have spanned over three decades of literary discussions. Some Rwandans documented their experiences before, during and after the Genocide. This study adopts trauma theory as a theoretical framework for the interpretive analysis of the prose narratives. These literary narrations exposed the extent of the violence and its lasting traumatic effects on the people. This study foregrounds that literary works are used as post-conflict peace-building materials; they are information materials to the public and a means of offloading burdens to the writers.

Convergent Technological and Hyperconvergent Forms of Productivity Improvement in the Extractive Sector of Economy

Convergent Technological and Hyperconvergent Forms of Productivity Improvement in the Extractive Sector of Economy