Enhancement Of Social Welfare Research Articles

Empowering the elderly: a cash waqf Takaful model for enhanced provision and protection in Malaysia

Purpose The primary objective of this research is to introduce a pioneering takaful model that provides both provision and protection to the aging population by combining the concept of cash waqf with takaful. This model is designed to align with Shariah principles, ensuring sustainability and enduring impact. Design/methodology/approach This research adopts a qualitative methodology, where a focus group discussion was conducted with six stakeholders. The participants consisted of takaful operators, legal experts and other industry players. The participants were presented with the proposed cash waqf takaful model and their feedback was recorded. Legal issues related to linking waqf with takaful were also identified and discussed. Findings The study highlights the need for innovative financial solutions to support Malaysia's aging population. It proposes a cash waqf takaful model, leveraging crowd funding for sustainability. Legal hurdles and recommendations for overcoming them are discussed, along with suggestions for future research on quantitative validation and regulatory frameworks. Ultimately, the study emphasizes the holistic approach of the proposed model in addressing the well-being of Malaysia's senior citizens. Practical implications The proposed takaful model presents opportunities for takaful operators to integrate Islamic social finance into their operations, enabling easier access to takaful for the elderly community. By eliminating financial barriers, it can transform the takaful landscape, ensuring inclusivity and financial security for aging populations. Moreover, policymakers see it as a blueprint for sustainable financial solutions and social welfare enhancement globally. Originality/value The study introduces a novel cash waqf takaful model to support Malaysia's aging population, leveraging crowdfunding for sustainability. It addresses legal challenges unique to Malaysia and proposes collaboration with State Islamic Religious Authorities. Furthermore, it emphasizes the need for further research to validate the model's effectiveness and explores its potential global policy implications.

Mitigating Climate Crisis: Integrating Climate Education into Educational System for Social Welfare Enhancement in Indonesia

Indonesia still faces two significant challenges: a climate education system and relatively low social welfare rates. To address these pressing concerns, this study examines the feasibility of utilizing climate education to enhance social welfare. The study proposes a comprehensive framework for climate education in Indonesia using quantitative and qualitative research methods designed to adapt to various contexts, including formal educational settings such as schools and universities, while still accessible to underprivileged communities. The findings highlight the significance of integrating climate and environmental education into the educational system to prepare future generations to address ecological challenges. The paper also discusses the impact of the climate crisis on social welfare conditions in Indonesia, particularly for vulnerable communities. It proposes strategies for implementing climate education to enhance social welfare. It emphasizes the need for interactive and action-oriented approaches to climate education, as well as the role of universities in promoting practical solutions and student leadership. The framework presented in the paper aims to equip future professionals with the necessary tools and knowledge to drive innovation in sustainable technologies, shape responsible policy decisions, and foster community resilience.

Carbon tax and low-carbon credit: Which policy is more beneficial to the capital-constrained manufacturer's remanufacturing activities?

Remanufacturing has attracted much attention for its enormous potential in resource recycling and low-carbon emission reduction. To investigate the effects of different government intervention policies on remanufacturing and carbon emissions, two profit maximization models of the capital-constrained manufacturer under carbon tax and low-carbon credit policies are constructed respectively. Then, through theoretical and numerical analyses, some significant findings are drawn: (1) Both carbon tax and low-carbon credit policies can encourage capital-constrained manufacturers to produce more remanufactured products, but which intervention policy is more advantageous also depends on the carbon emission cost of new products or financing cost of the remanufactured products. (2) Although carbon tax policy can effectively control carbon emissions, it is always at the expense of both capital-constrained manufacturers and consumers; while low-carbon credit policy can help capital-constrained manufacturers achieve the goal of win-win economic and environmental benefits when the remanufacturing carbon savings advantages are more apparent. (3) From the perspective of consumer benefits, carbon tax is more advantageous when the consumer willingness to pay for remanufactured products is higher; otherwise, low-carbon credit policy should be implemented. (4) The higher the environmental damage coefficient is, the more it can highlight the advantages of the two intervention policies in social welfare enhancement, especially the carbon tax policy; and when the environmental damage coefficient is given, the stronger the consumers’ willingness to pay for remanufactured products is, the more it is conducive to reducing the negative effects caused by the carbon tax or low-carbon credit policy in social welfare enhancement, or increasing the corresponding positive effects. Based on above findings, some managerial insights and policy implications are provided to capital-constrained manufacturers and policy-makers.

Integrating Climate Education for Social Welfare Enhancement in Indonesia

Indonesia still faces two significant challenges: a climate education system and relatively low social welfare rates. To address these pressing concerns, this study examines the feasibility of utilizing climate education to enhance social welfare. The study proposes a comprehensive framework for climate education in Indonesia using quantitative and qualitative research methods designed to adapt to various contexts, including formal educational settings such as schools and universities, while still accessible to underprivileged communities. The findings highlight the significance of integrating climate and environmental education into the educational system to prepare future generations to address ecological challenges. The paper also discusses the impact of the climate crisis on social welfare conditions in Indonesia, particularly for vulnerable communities. It proposes strategies for implementing climate education to enhance social welfare. It emphasizes the need for interactive and action-oriented approaches to climate education, as well as the role of universities in promoting practical solutions and student leadership. The framework presented in the paper aims to equip future professionals with the necessary tools and knowledge to drive innovation in sustainable technologies, shape responsible policy decisions, and foster community resilience

Enhancing Economic Growth for the Achievement of Sustainable Development Goals through Digital Era Fundraising Schemes for Sustainable Community Development: A Policy Analysis from the Islamic Economic Perspective

This paper provides a policy analysis from the Islamic economic perspective on enhancing economic growth and achieving Sustainable Development Goals (SDGs) through digital era fundraising schemes for sustainable community development. It examines the role of zakat, sukuk, and waqf in contributing to specific SDGs in Indonesia. The study highlights the importance of inclusive and environmentally sustainable economic growth for sustainable development. It emphasizes the potential of digital era fundraising schemes in mobilizing resources and promoting sustainable development. The paper specifically explores the impact of zakat on poverty eradication and social welfare enhancement, sukuk in financing infrastructure projects and stimulating economic growth, and waqf in supporting education, healthcare, and community development. Using a qualitative research approach that includes literature review and policy analysis, the study evaluates existing policies and strategies related to digital era fundraising schemes in Indonesia. It assesses their effectiveness in achieving SDGs and identifies strengths and challenges in current policies. Based on this analysis, the paper presents policy recommendations to enhance the effectiveness of digital era fundraising schemes for sustainable community development. The recommendations advocate for comprehensive policy frameworks aligned with Islamic economic principles and the integration of digital technologies. They emphasize the importance of improving financial literacy and awareness to encourage active participation in fundraising efforts, fostering collaboration among stakeholders, and developing supportive regulatory frameworks. By implementing the proposed policy recommendations, Indonesia can harness the potential of digital era fundraising schemes to achieve specific SDGs. The paper concludes that a well-designed policy framework embracing Islamic economic principles, leveraging digital technologies, and promoting stakeholder collaboration will facilitate the effective utilization of zakat, sukuk, and waqf for enhancing economic growth and achieving sustainable development goals. Overall, this paper contributes to the understanding of how digital era fundraising schemes, guided by Islamic economic principles, can play a significant role in advancing economic growth and sustainable development. It provides policymakers, organizations, and practitioners with insights and recommendations to optimize the potential of these fundraising schemes in promoting sustainable community development and achieving SDGs in Indonesia.

Academic entrepreneurial engagement for frugal innovation in higher education institutions: a systematic literature review

Higher education institutions (HEI) are faced with increasing challenges related to shrinking resources, high operation costs, the COVID-19 pandemic, decreasing student enrolment rates, and pressure to contribute to regional development and economic growth. To overcome such challenges, academics must move beyond their traditional functions of research and teaching and engage in entrepreneurial activities. Through engagement in entrepreneurial activities, academics can contribute to frugal innovation (FI) in private HEI (PHEI). The literature in this context emphasizes that academic entrepreneurial engagement (AEE) will lead to innovation, the identification of opportunities for new business ventures, financial rewards for institutions and academics, an impact on the economy, and the enhancement of social welfare. This study presents a systematic review of the literature and adopts the Transfield five-phase strategy to review the literature on AEE from the past two decades (2000–2020). A total of 1,067 papers on FI are obtained, only five of which focus on AEE. Moreover, papers related to AEE for FI are few. The study presents the research gaps, challenges, and potential factors for further research in this context. We conclude that FI for AEE in PHEI can be a game-changer for future sustainability. Moreover, we believe that the outcome of this review warrants further research.

The Global Consumption of Truths and Big Lies in the Epoch of Digital Information Technologies: A Theoretical Analysis

This paper asserts that political leaders around the world and the emergence of digital information technologies have contributed remarkably to the amplifications and normalizations of telling big lies, thus the noticeable increase in the global consumption of big lies at varying degrees. To underscore this assertion, this paper uses the theoretical framework of utility maximization to show that human beings, in a world in which “we are all liars,” consume truths and big lies subject to their information constraints. Furthermore, we use the concept of welfare economics to underscore the assertion that truths generate positive externalities, which can lead to outcomes that are social welfare-enhancing while big lies generate negative externalities, which can result in outcomes that are social welfare-retarding. The United States provides an illustrative example of a country where the consumption of big lies may be outpacing the consumption of truths because big lies have become the political philosophy of one of the political parties whose objective is to use big lies as the weapons of democracy destruction.

Gender Disparity and the Association Between Socioeconomic Status, Mental Health, and the Need for Long-Term Services and Support Among the Older Koreans.

BackgroundPopulation aging—the inevitable increase in the percentage of older adults—is occurring all around the world as the fertility rate declines and life expectancy rises. This study examined the relationship between socioeconomic status (SES), mental health, and the need for long-term services and support (LTSS) among Korean older adults. It also aimed to provide evidence-based information for South Korea's long-term support services and programs.MethodsThis study used the data on older adults aged over 60 years from the 2018 Korean Longitudinal Study of Aging (KLoSA). Ultimately, 5,527 older adults were included in the database (42.6% men, 57.4% women). To clarify the association between SES, mental health, and the need for LTSS among older Korean men and women, chi-squared test, t-test, and structural equation modeling (SEM) were performed.ResultsThe SEM analysis showed that a significant, negative association was observed between SES and the need for LTSS among these older adults—the higher SES groups would generally have less need for LTSS. Mental health had a strong, negative impact on the need for LTSS—better mental health status of the older individuals would indicate a lower need for LTSS, and the effect was stronger among older men. Meanwhile, the positive relationship between SES and mental health was verified—the higher the SES of these older adults the better their mental health.ConclusionsGender- and social class-sensitive impacts of mental health on the need for LTSS were observed in this study. These findings could provide an evidence-based reference for interventions targeting different genders and social classes in Korea's long-term care system, such as the enhancement of social welfare and mental health status of the older adults.

Integrating ecosystem benefits for sustainable water allocation in hydroeconomic modeling.

The increasing concern about the degradation of water-dependent ecosystems calls for considering ecosystems benefits in water management decision-making. Sustainable water management requires adequate economic and biophysical information on water systems supporting both human activities and natural ecosystems. This information is essential for assessing the impact on social welfare of water allocation options. This paper evaluates various alternative water management policies by including the spatial and sectoral interrelationships between the economic and environmental uses of water. A hydroeconomic model is developed to analyze water management policies for adaptation to reduced water availability in the Ebro Basin of Spain. The originality in our contribution is the integration of environmental benefits across the basin, by using endemic biophysical information that relates stream flows and ecosystem status in the Ebro Basin. The results show the enhancement of social welfare that can be achieved by protecting environmental flows, and the tradeoffs between economic and environmental benefits under alternative adaptation strategies. The introduction of water markets is a policy that maximizes the private benefits of economic activities, but disregards environmental benefits. The results show that the current institutional policy where stakeholders cooperate inside the water authority, provides lower private benefits but higher environmental benefits compared to those obtained under water markets, especially under severe droughts. However, the water authority is not allocating enough environmental flows to optimize social welfare. This study informs strategies for protection of environmental flows in the Ebro Basin, which is a compelling decision under the imminent climate change impacts on water availability in coming decades.

The Linkage between Sustainable Development Goals 9 and 11: Examining the Association between Sustainable Urbanization and Intellectual Property Rights Protection

AbstractUnited Nations Sustainable Development Goals (SDGs) 9 and 11 advocate industrial innovation and sustainable cities, respectively, although how sustainable urban development ensures the protection of innovative achievements remains understudied. Employing the Spatial Durbin Model, this study examines how the protection of intellectual property rights (IPRs) has affected sustainable urbanization using the case of the Huaihai economic zone (HEZ), China. Adopting a theoretical and empirical approach, the study seeks to understand how sustainable urbanization affects the protection of IPRs, and explores the spatial spillover from the perspectives of economic growth structure, technological progress, economic agglomeration and social welfare enhancement, taking into account also the protection of IPRs at a sub‐national level. The results indicate that sustainable urbanization is positively related to the protection of IPRs (as can be understood from the four abovementioned aspects of sustainable urbanization), that the spatial spillover effects of sustainable urbanization on the protection of IPRs and distance from the central city are significant, and that foreign direct investment (FDI)—a significant driving force in China's urbanization—has a negative impact.

Academic entrepreneurial engagement for frugal innovation in higher education institutions: a systematic literature review

Higher education institutions (HEI) are faced with increasing challenges related to shrinking resources, high operation costs, the COVID-19 pandemic, decreasing student enrolment rates, and pressure to contribute to regional development and economic growth. To overcome such challenges, academics must move beyond their traditional functions of research and teaching and engage in entrepreneurial activities. Through engagement in entrepreneurial activities, academics can contribute to frugal innovation (FI) in private HEI (PHEI). The literature in this context emphasizes that academic entrepreneurial engagement (AEE) will lead to innovation, the identification of opportunities for new business ventures, financial rewards for institutions and academics, an impact on the economy, and the enhancement of social welfare. This study presents a systematic review of the literature and adopts the Transfield five-phase strategy to review the literature on AEE from the past two decades (2000–2020). A total of 1,067 papers on FI are obtained, only five of which focus on AEE. Moreover, papers related to AEE for FI are few. The study presents the research gaps, challenges, and potential factors for further research in this context. We conclude that FI for AEE in PHEI can be a game-changer for future sustainability. Moreover, we believe that the outcome of this review warrants further research.

A Cost-Efficient-Based Cooperative Allocation of Mining Devices and Renewable Resources Enhancing Blockchain Architecture

The impressive furtherance of communication technologies has exhorted industrial companies to link-up these developments with their own abilities with the target of efficiency enhancement through smart supervision and control. With this in mind, the blockchain platform is a prospective solution for merging communication technologies and industrial infrastructures, but there are several challenges. Such obstacles should be addressed to effectively adopt this technology. One of the most recent challenges relative to adopting blockchain technology is the energy consumption of miners. Thus, providing an accurate approach that addresses the underlying cause of the problem will carry weight in the future. This work addresses managing the energy consumption of miners by using the advantage of distributed generation resources (DGRs). Along the same vein, it appears that achieving the optimal solution requires executing the modified reconfirmation of DGRs and miners (indeed, mining pool systems) in the smart grid. In order to perform this task, this article utilizes the Intelligent Priority Selection (IPS) method since this method is up to snuff for corporative allocation. In order to find practical solutions for this problem, the uncertainty is also modeled as a credible index highly correlated with the load and generation. All in all, it can be said that the outcome of this research study can help researchers in the field of enhancement of social welfare by using the proposed technology.

Competitive and welfare effects of private label presence in differentiated food markets

ABSTRACT Private labels (PLs), originally introduced by food retailers as low-priced alternatives to national brands, have expanded in recent years in premium market segments. This article examines how the presence of different types of PLs affect prices, competition, and overall welfare. Using estimates from a random coefficients logit demand model and retail scanner data of yogurt sales from 17 regions in Italy, we simulate counterfactual scenarios where different types of PLs – namely 1) horizontally differentiated; 2) vertically differentiated; and 3) both types – are no longer in the market. The empirical results show that PLs are social-welfare enhancing, playing a pro-competitive role that benefits consumers. Also, in both a relative and an absolute sense, the welfare-increasing effect of PLs presence is more significant for horizontally differentiated PLs than for vertically differentiated ones.

Entry and mergers in oligopoly with firm-specific network effects

This paper investigates the effects of exogenous entry on market performance, and the profitability and welfare effects of horizontal mergers in symmetric Cournot oligopolies with firm-specific network effects. With strategic substitutes in the Cournot part of the model, per-firm output is declining in the number of firms, but industry output, price, per-firm profit, consumer surplus and social welfare may go either way in response to entry. We identify respective sufficient conditions for each possibility. The counter-intuitive conclusions tend to require strong network effects. We study the scope for profitability of mergers and the associated welfare effects. In a general analysis, we provide a sufficient condition on inverse demand for a merger to be profitable, which amounts to requiring strong network effects. Under the condition that leads to higher industry output with entry, mergers are always social welfare-enhancing.

Social Welfare Consequences of the Radius of Employment Decency

The private sector in Cameroon employs close to 90% of the labour force, and about 80% of those employed in this sector are in a situation of precarious employment. This paper investigated the private sector social welfare shares and impacts of employment decency among other regressed-income sources in Cameroon. Specifically, it (1) investigated the role of decent employment in shaping private sector inequality; (2) evaluated the share of decent employment in total social welfare of private sector households; and (3) examined the effect of growth in the mean value of decent employment on private sector social welfare. It employed the Cameroon Household Consumption Survey (CHCS III) conducted in 2007 by the Government’s Institute of Statistics. Findings indicated that decent employments, human capital, and financial capital endowments have inequality-reducing effects. Our analysis further noted that good working conditions (decent employment), education and training facilities (human capital) as well as access to micro-credit (financial capital) accrue relatively more to the rich or privileged households than the poor or underprivileged households in the private sector. We found that a decision-maker who is absolutely equity seeking may lay more emphasis on micro-credit access, education and training programmes, and better working conditions, in that order, to obtain commendable social welfare outcomes. In addition, results indicated that if the decision-maker mediates 50:50 between efficiency and equity, then human capital endowments are ranked first followed by decent employment endowments in terms of social welfare enhancement. This order was maintained for more efficiency seeking policymakers. These findings indicated that policy measures focused on driving private sector working conditions, education and training facilities as well as improve micro-credit access should consider their relative disparities between the rich and the poor private sector households in order to better tap their inequality-reducing effects. (JEL D60, E24, D63)

Stochastic Electricity Social Welfare Enhancement Based on Consensus Neighbor Virtualization

This paper tries to develop a multiagent consensus-based algorithm to handle the energy management problem (EMP) in the smart grids in the presence of dispatchable loads and distributed generators. To this end, the neighbor virtualization concept is employed to improve the system performance by introducing a novel communication structure for distributed algorithms. Accuracy, quickness, and scalability are the most important benefits of this algorithm that make it applicable in real power systems. The increasing penetration of wind turbines and the stochastic nature of load demand can inject much uncertainty in our problem. In order to deal with this issue, unscented transform as a powerful tool is used to model the problem uncertainties. The proposed problem is formulated in the form of a single-objective stochastic optimization framework maximizing the generators and consumers welfare. The feasibility and high performance of the proposed framework are examined on two test systems, including the IEEE 39-bus test system and a large grid with 1305 agents in MATLAB simulation. The simulation results advocate the high capability and effectiveness of the proposed framework for EMP of smart grids.

Benefits and Concerns of the Sharing Economy: Economic Analysis and Policy Implications

This paper economically analyzes the benefits and concerns of the sharing economy and derives policy implications that could help to achieve the expected benefits and respond appropriately to any concerns. Primary benefits anticipated from the sharing economy are the creation of new transactions and promotional and market testing opportunities, and the main concerns include the crowding out of existing transactions as well as transaction and social risks. How these benefits and concerns are being realized in Korea is empirically examined by conducting a survey on participation experiences with the sharing economy. The sharing economy is expected to contribute to the enhancement of social welfare with its wide range of benefits if risk factors can be properly controlled. Accordingly, an institutional framework is needed to support the stable growth of the sharing economy, and the unique characteristics of non-professional, peer-to-peer transactions should be reflected in tandem with regulatory equity between existing and sharing economy suppliers. To do this, transaction-volume-based regulations are recommended. Furthermore, to secure regulatory effectiveness and to alleviate transaction risks, the pertinent obligations must be imposed on sharing platforms.

Values of food leftover sharing platforms in the sharing economy

For many food products, such as fresh vegetable and fruit, proper handling of product leftovers is critical. In recent years, food leftover sharing (FLS) platforms that can provide a means to collect the unsold food products from individual retailers and create values from them have emerged. Motivated by this real world observation, we build a single supplier multi-retailer analytical supply chain model to explore the value of this kind of FLS platform. In the decentralized supply chain setting, we prove that the presence of FLS platform is beneficial to the retailers, the supplier, the consumers and the environment. Whether it benefits the supply chain economically depends on the logistics costs (incurred from the food product leftover collection by the FLS platform). We extend the analysis to the case with a centralized supply chain and show that the FLS platform is guaranteed to help improve the environment, but the consumers and the supply chain are only benefited when the logistics costs are sufficiently small. Sensitivity analyses are conducted which show that for both centralized and decentralized supply chain settings, the FLS platform is especially helpful in enhancing social welfare when the unit food product leftover cost is higher, the unit benefit derived from reusing the food product leftovers is higher, or the unit logistics cost is lower. We further consider the case when the logistics cost with the use of platform is high, propose the use of government sponsors to help and provide the conditions under which this sponsor is well-justified with respect to social welfare enhancement.

Social independence of adult congenital heart disease patients in Japan.

As treatment outcomes for congenital heart disease (CHD) have improved, the social independence of adult CHD patients has become a key goal. The aims of this study were therefore to (i) determine the relationship between social independence and psychological profile, and (ii) identify patient anxieties, difficulties, and demands related to life in society. A total of 143 patients aged ≥15years with physical disability certificates were selected using a questionnaire distributed by a patients' association. Each participant was asked about employment status, income, and receipt of disability pension as a social independence index, and about financial and psychological distress as a psychological status index. Furthermore, each participant was asked to freely describe his or her difficulties, anxieties, and needs pertaining to life in society. The subjects were 15-73years old. Seventy-one (50%) were female, and 94 (66%) had a grade 1 physical disability certificate. Fifty-nine subjects (41%) were employed, 37 (26%) were unemployed, and 45 (31%) were students. Of those employed, 34 subjects (58%) reported annual individual income ≤2 million yen. Frequent hospital visits, low total household income, low individual annual income, work dissatisfaction, and receipt of a disability pension were associated with poorer psychological profile. In an open description section, subjects expressed desires for better pension systems, support for medical fees, and employment support. Because financial issues can adversely affect the psychological profiles of adult CHD patients, enhancement of social welfare and employment support may improve their social independence.

MANAGING CORPORATE WAQF IN MALAYSIA: PERSPECTIVES OF SELECTED SEDCs AND SIRCs

Waqf is described as an act of dedicating a corpus of property or financial assets in perpetuity for the cause of Allah SWT. The ownership of the property or assets is transferred to Allah SWT, but the benefits are dedicated to the poor, sick, marginalized segments of society, or any other virtuous causes. Waqf institutions are among several instruments instituted in Islam to combat poverty and enhance societal welfare. Waqf provides the material infrastructure and creates a source of revenue for use in, among other things, social welfare enhancing activities, both at the family, community, and state levels. Corporate waqf is defined as a type of waqf where the mawqūf (waqf assets) are in the form of shares issued and managed by a corporate entity. Corporate waqf utilizes the application of waqf principles in a corporate setting.6 Corporate waqf is more than a charitable and philanthropic act by a business entity, but is an initiative to combine the concept of waqf and apply it to achieve business and corporate objectives. Consequently, it intends to redefine the role and function of business organizations in today’s society by ‘giving back’ and reaching out to the community. This study tries to gauge the level of awareness and willingness of State Economic Development Corporations (SEDCs) and State Islamic Religious Councils (SIRCs) to be involved in corporate waqf initiatives. The study found that, in general, the SEDCs are receptive of the idea of corporate waqf entities managing and enhancing the values of waqf assets and waqf properties; however, this must be done within the current legal framework. The study also found a lack of coordination between the SEDCs and SIRCs in making decisions on waqf related matters. It is suggested that the state government, through its departments/agencies, play a facilitative role in ensuring the efficient development of waqf assets or properties.