Economic Studies Research Articles

A Multi-dimensional Framework of Valued Output for Primary Care in England.

Improving efficiency and productivity are key aspects to ensure that general practices in England can meet the needs of a growing population with increasingly demanding and costly healthcare needs. However, current evidence on the efficiency and productivity of general practices is weak, partly due to suboptimal approaches to measure their 'valued' output. To overcome this limitation, this paper presents a multi-dimensional framework and indicators of valued output from the healthcare decision-maker's perspective. We identified existing primary care performance frameworks through a targeted literature review. We reviewed the frameworks and selected the dimensions relating to the impact on patients' health outcomes, corresponding with the definition of 'valued' output from the healthcare decision-maker perspective. For each dimension, we reviewed the National Institute for Health and Care Excellence (NICE) evidence base and guidance on best practice to develop indicators of valued output. Clinical experts and representatives of the main primary care stakeholders reviewed and validated the framework's comprehensiveness and development process. Based on a review of three existing frameworks, we synthesised a multi-dimensional output framework comprising 13 dimensions for significant primary care-related conditions and services and 51 indicators of valued output. Each indicator of valued output measures a healthcare episode and the resulting impact on patient's health. The multi-dimensional framework and indicators provide a theoretical tool to improve the measurement of primary care output in economic efficiency and productivity studies. Future research should explore the measurability of the indicators through available datasets and the implementation of the framework through analytical approaches for efficiency measurement.

Economic losses due to foot-and-mouth disease (FMD) in Ethiopian cattle

Ethiopia’s cattle population is among the largest in Africa and is burdened by frequent foot-and-mouth disease (FMD) outbreaks. FMD is caused by several distinct and highly contagious viral strains that can result in acute disease in cattle, causing losses in productivity and impeding international trade. This economic simulation study considered four main sources of losses due to FMD in cattle: reduced milk yield, draft power yield, fertility, and increased mortality. Economic losses were estimated per case across age-sex strata in 89 Ethiopian administrative zones for the years 2010–2021 using a wide range of data to estimate distributions for 30 input variables in a series of Monte Carlo simulations. It was estimated that an average case of FMD in Ethiopian cattle results in losses (mean values reported followed 95 % confidence intervals in brackets) of US dollars (USD) 11 (USD 7–USD 16) per case. Losses resulting from an average outbreak were estimated to be USD 2300 (USD 1400–USD 3300), while national annual losses were estimated to be USD 0.9 Mil. (USD 0.2 Mil.–USD 2.3 Mil.). Per cow-year, based on a national cow population of approximately 39 Mil. head, these estimated annual losses are equivalent to losses of only USD 0.02 (USD 0.01–USD 0.06). Nationally, these losses were significantly less than previously estimated in the literature, with currently estimated losses more accurately reflecting the economic burden of FMD in Ethiopian cattle over the past decade. The relatively small estimated losses suggest that control efforts based on widespread vaccination in countries with primarily extensive cattle production systems, such as Ethiopia, are unlikely to be economically sound. Sensitivity analyses suggested losses would be far greater in intensive systems, and that certainty surrounding incidence rates is paramount to the formulation of economically sound animal healthpolicy in regions with endemic FMD.

CURRENT STATUS AND EFFICIENCY OF ABANDONED LANDS RE-DEVELOPMENT IN RIVER BASINS OF SOUTH-WESTERN TRANSBAIKALIA

Complex ecological and economic studies of post-agrarian landscapes in the middle reaches of the Selenga, Chikoy and Temnik rivers were carried out within the boundaries of the Selenga administrative region of the Republic of Buryatia (RB). A map of abandoned agricultural lands has been compiled. A brief description of agroclimatic conditions of the study area is given; the structure of agricultural land, the yield of grain and forage crops, the dynamics of livestock and the load of livestock on pastures and hayfields are analyzed. The reasons for the arable land abandonment are formulated. It was revealed that pastures and hayfields are not excluded from the agricultural use. This is due to an increase in the livestock numbers in households, which are the main agricultural producers in the RB, as well as a shortage of natural forage lands. The species composition and the state of shelterbelt forests are described as an integral part of the ecotopes of post-agrarian landscapes. The main taxonomic indicators of trees are given. The study of shelterbelt forests is topical due to the need for their inventory, lack of maintenance, and the adoption of Federal Laws on protective afforestation and land reclamation. A brief agrochemical description of the state of soils in key areas is given. To assess the effectiveness of arable land reuse, a net operating income (NOI) or rental income was calculated for each grain and grainfodder crop grown in the region under study. It was revealed that oats and spring wheat are the most profitable. Recommendations were formulated for the redevelopment of post-agricultural landscapes, optimization of protective afforestation, and reconstruction of shelterbelt forests

Polypill versus medication monotherapy in the prevention of cardiovascular diseases in Iran: An economic evaluation study.

Cardiovascular diseases (CVDs) are one of the major diseases in developing and developed countries and have high prevalence and mortality rates. Pharmacological interventions, especially the use of combination medications, can have preventive effects in patients with CVDs. Recently, in the PolyIran trial, a combination of atorvastatin, hydrochlorothiazide, aspirin, and valsartan or enalapril (Polypill) was shown to be effective in providing survival benefits as a primary prevention strategy. In the present study, we examine the cost-effectiveness of the use of polypill compared to its individual components (named as medication monotherapy) in the prevention of CVDs in Iran. This was an economic evaluation study conducted to compare the cost-utility of polypill with that of medication monotherapy for 10,000 hypothetical cohorts of people over 35 years of age using the Markov model and with a lifetime horizon. The study perspective was patient perspective and direct medical costs, quality-adjusted life-years (QALYs), and incremental cost-effectiveness ratio were estimated. To deal with uncertaintysensitivity analyses were used. The results showed that polypill, with the lowest costs (871 USD) and highest QALYs (14.55), had the most cost-utility than medication monotherapy. Also, the results showed that the highest sensitivities were related to the utilities of angina and stroke states. At the 21,768 USD threshold, polypill had a 92% probability of being cost-effective versus other medications. Considering that polypill had the most cost-utility, it is suggested that health system policymakers pay special attention to polypill in designing clinical guidelines. Also, through covering this medication by health insurance organizations, it is possible to complete the country's medicine pharmacopeia in preventing CVDs.

Economic burden of chronic obstructive pulmonary disease and post-tuberculosis sequelae in low- and middle-income countries: a database compiled from a systematic review and meta-analysis

BackgroundChronic obstructive pulmonary disease (COPD) and tuberculosis (TB) impose a substantial economic burden globally. This systematic review summarised the evidence on the costs of COPD, including post-TB diseases in low-...

Implementation of pumped hydro/photovoltaic systems in mining-degraded areas: a case study in Quadrilátero Ferrífero, Minas Gerais, Brazil

This work presents a proposal for the transformation of mining-degraded areas into renewable energy installations, converting deactivated mine pits, in the Quadrilátero Ferrífero (QF) region in state of Minas Gerais (MG), Brazil, into reservoirs for Pumped Storage Hydropower (PSH). Additionally, it proposes the alteration of adjacent areas impacted by mining extraction process, through their conversion into Photovoltaic Power Plants (PV). This measure has the potential to turn mining liabilities into sources of energy with lower environmental impact and sustainability for society. This process allows energy to be stored in the form of hydraulic batteries, which can mitigate the effects of intermittency of photovoltaic generation in the electrical grid. The presented methodology involves mapping deactivated mines, calculating the energy potential of the coupled PSH and PV systems, and conducting an economic feasibility study for PSH implementation. The work includes a case study discussing potential local environmental impacts and the energy potentials of this solution. The case study resulted in identifying a suitable pair of mine pits for a PSH in the QF, capable of supplying the electrical grid with approximately 234.3 MW, with the generated energy cost ranging between U$112.26/MWh to U$167.22/MWh. It is concluded that utilizing inactive mines as PSH reservoirs and installing PV in adjacent mining-degraded areas are innovative and technologically feasible strategies. Economically, their implementation will depend on the market price of energy.

Valuation of Multi-Dimensional Health States With a Bolt-On: Is There a Shortcut?

ObjectivesTo use the EQ-5D questionnaire with bolt-on dimensions in economic evaluation studies, new value sets are needed. In this study, we explored the feasibility of a new approach called the scaling factor model, which estimates bolt-on value sets using estimated EQ-5D dimensional weights. MethodsWe designed a 2-arm study, inviting university students to value health states with and without bolt-on items using the composite time trade-off method. We selected 25 health states from an orthogonal array and added the 5 mildest EQ-5D states in the design. In arm 1, EQ-5D without self-care and standard EQ-5D states were valued, and in arm 2, standard EQ-5D states and EQ-5D with vision were valued. By arm, we compared the mean observed values of health states with and without bolt-on item. Next, by arm, we estimated value sets for the EQ-5D with bolt-on states using both standard model and scaling factor model. Model performances were compared in terms of prediction accuracy and correlation with likelihood-based mean values. ResultsAdding a five-level bolt-on to EQ-5D resulted in statistically lower values. This effect was consistent across 2 arms and bolt-on items. The scaling factor models outperformed the standard models in all statistics. ConclusionsThe scaling factor model offers a methodologically viable and low-cost option for producing value sets for EQ-5D supplemented with bolt-on items. Future studies should further test this method using other bolt-on items and more relevant study populations.

Proposal and thermo-economic analysis of the solar-driven combined plant with CO2 power cycles for hydrogen generation

This research delves into an innovative solar energy integrated combined plant, a cutting-edge technology that produces a range of valuable outputs including power, freshwater, hydrogen, and hot water for heating. The developed scheme incorporates a solar collector, supercritical Brayton cycle, transcritical Rankine cycle, multi-effect desalination unit, and PEM electrolyzer. A comprehensive evaluation of the system’s thermodynamic and economic performance, including energy and exergy efficiency, exergy destruction rate, hydrogen generation cost, and total investment cost rates, is conducted. The analysis revealed a net power production load of 505.8 kW, hydrogen capacity of 0.0004139 kgs−1, and a freshwater production rate of 5.698 kgs−1.The research yielded promising results, with the total exergy destruction rate calculated at 5706 kW, and the solar collector identified as the most efficient component. The energetic and exergetic performance of the developed scheme is determined to be 33.92 % and 30.83 %, respectively, indicating a high level of efficiency. The economic cost studies further revealed that the entire investment cost rate of the proposed scheme is a mere 0.0019 $s−1, demonstrating the potential for cost-effective implementation.

Analysis of the Influence of Product Price and Quality on Consumer Purchasing Decisions (Case study: Economics Study Program Students, Faculty of Economics, Medan State University)

Competition in the industry is getting tougher, so companies must offer more value to attract consumer purchasing power. Consumer purchasing decisions are influenced by various factors, including price and product quality. This research aims to analyze the influence of price and product quality on consumer purchasing decisions. The research methods used include observation, literature study, and questionnaires. The research objects were 41 students of the Economics Study Program, Faculty of Economics, Medan State University who filled out a questionnaire. The research results showed that 53.7% of respondents stated that product price had a big influence on purchasing decisions. As many as 53.7% of respondents tend to choose cheaper products, and 56.1% consider discount promotions to be very important. In addition, 58.3% of respondents compared product prices with online shopping platforms to get the cheapest price. Meanwhile, 58.5% of respondents stated that product quality greatly influenced their purchasing decisions. As many as 63.4% of respondents were willing to pay more for quality products, and 87.8% of respondents preferred products with higher prices but better quality. Based on the results of this research, it can be concluded that product price and quality have a significant influence on consumer purchasing decisions.

Standard Economic Study for Analyzing the Production Costs of Wheat and Yellow Corn Crops in Iraq for the Period (2017-2021)

Standard Economic Study for Analyzing the Production Costs of Wheat and Yellow Corn Crops in Iraq for the Period (2017-2021)

An Economic Study of the Margins and Profits of Middlemen in the Marketing of Chicken Meat Marketing Channels in Baghdad Province for the Season 2023

An Economic Study of the Margins and Profits of Middlemen in the Marketing of Chicken Meat Marketing Channels in Baghdad Province for the Season 2023

An Economic Study of the Water Footprint of the Most Important Strategic Crops in Iraq

An Economic Study of the Water Footprint of the Most Important Strategic Crops in Iraq

A general sizing methodology of grid-connected PV systems to meet the zero-energy goal in buildings

This work expresses the most general definition of zero-energy building through a set of equations based on measured energy consumption and electricity generation predictions. This helps determining the optimal size of grid-connected photovoltaic systems for upgrading any highly efficient or conventional building into a zero-energy building. Opposed to previous works, which consider only electrical consumptions, this article includes consumption from fossil fuels and district heat and cooling networks. The study also covers environmental parameters and an economic study adaptable to any electricity market structure, contributing to deciding the best electricity tariff to hire.The methodology was applied to passive and conventional single-family houses in Spain. Results showed that the performance of a grid-connected photovoltaic system depends critically on the energy sources imported by the building. In particular, the performance improves in buildings where the electricity represents most of the imported energy. The required minimum size of the photovoltaic system in the conventional house (14 kWp) is far greater than in the passive house (9 kWp). After the recent global increase in electricity prices, annual economic savings of 70.12 % and 49.71 %, and payback periods of 6 and 13 years for the passive and conventional houses, respectively, make the investment profitable.

CHIEF EXECUTIVE OFFICER (CEO) CHARACTERISTICS AND COMPANY PERFORMANCE OF MALAYSIAN LISTED COMPANIES

The main objective this research is to examine the relationship between Chief Executive Officer (CEO) characteristics and company performance specifically based on Return on Asset (ROA). Using a sample of 241 Malaysian listed companiesis examined from 2013 to 2015 in various industry listed on Bursa Malaysia. Regression analysis produce significant results for CEO’s education and experience effect ROA. Economic study is important to know in potential economic growth of develop conceptual models of behavior to predict responses to changes in policy and market conditions. CEO experience inthis research prove consistent that longer CEO that stay for a company for a long time may not care about their job and this may lead to poor performance of the company. The result also shows all control variables such as company size, company age and company leverage have significant relationship with the ROA. This study can be expanded using other CEOs characteristics and other performance measure such as Economic Value Added (EVA), Return on Equity (ROE) and Excess in Value.

The Socio-Economic Role of Small Agribusiness in the Development of Modern Ukraine and Poland

Factors influencing the formation of the socio-economic role of small agribusiness, directions for establishing the institutional and organizational-economic structure of small-scale enterprises in the agricultural sector of Ukraine and Poland are singled out. An analysis of the activities of small agribusiness entities was carried out using statistical data from GUS (Central Statistical Office of Poland) and the State Statistics Service of Ukraine for the period from 2010 to 2020. The trends in running a craft business were disclosed. It has been demonstrated that the development of the agricultural sector is dominated by the direct freedom of decision-making and choice of producers. It was established that small agribusiness in Ukraine and Poland can meet the requirements of a competitive environment and function effectively under the conditions of coronavirus and war in Ukraine. The purpose of our research is to theoretically and methodologically justify scientific provisions and develop recommendations that will accumulate specific institutional and technological capabilities to produce necessary raw materials and create agri-food products in Ukraine and Poland. The methodological basis of the research includes fundamental principles of economic theory, management, and studies of scholars regarding the socio-economic role of small agribusiness in the conditions of war in Ukraine. Observation, sampling, and grouping methods were used for the theoretical justification in identifying problems in the development of small agricultural businesses; generalization and comparative analysis were employed to form the institutional and organizational-economic functionality of small-scale enterprises in the agricultural sector of Ukraine and rural areas, refine the conceptual framework, and draw conclusions and proposals on the selected topic.

Energy and Economic Comparative Study of Dry and Wet Cooling in Solar Tower Power Plants

Energy and Economic Comparative Study of Dry and Wet Cooling in Solar Tower Power Plants

Comparative Study of an Industrial Building Made of Cold formed steel versus Hot Rolled Steel Elements

Industrial buildings based on Cold Formed Steel (CFS) members have gained an extent of construction all over the world. It becomes an alternative process of construction to the Hot Rolled Steel (HRS) elements, allowing it to respond to the requirements in a short time. The aim of this work is to present a technical and economic comparative study of an industrial building case, made of CFS versus HRS elements, and designed according to the European and American codes. Relying on numerical modeling, the design according to Eurocode 3 demonstrates that the industrial building made of CFS is more economical compared to the HRS members building by 43% in terms of weight and 28% in terms of cost. In addition, based on the Average Capacity Design (ACD) ratio of the elements of a CFS, the design according to Eurocode 3 part 1-3 is less conservative than the same building designed according to American Iron and Steel Institute (AISI) code. Moreover, the American code privileges the safety aspect of the designed CFS building with the ASD method over the LRFD and LSD methods. Otherwise, a CFS building designed according to Eurocode 3 part 1-3 with truss columns and beams reveals a weight saving of 25% and 14%, respectively, compared to a building with a full web of beams and columns, and a building with a full web of columns and steel trusses.

Financial and Economic Feasibility Study for the Development of West Java International Airport Road Access

Financial and Economic Feasibility Study for the Development of West Java International Airport Road Access

국외 항만 물류 연구동향 분석

Purpose: This study collected and analyzed trends in port logistics research conducted abroad. The trend analysis results were compared with the trends in domestic port and port logistics research to examine the similarities and differences. Research design, data, and methodology: The analysis methods used are SLNA and NLP in parallel. The analysis period covered the literature on port logistics conducted abroad from 2000 to 2019. The literature was limited to peer-reviewed articles, conference papers, and review articles. One thousand and nineteen international documents were collected and finally classified. NLP analysis was conducted using the abstract data from these 1,019 documents. Results: The analysis revealed the top keywords: Container, Model, Development, Cost, Transport, Efficiency, and Maritime. The keywords related to economic studies, such as container terminals, models, and costs, were among the top keywords. The key research topics were analyzed through LDA analysis. The core research topics in international port logistics studies were identified as ‘port performance,’ ‘port issue,’ ‘port operation,’ ‘cargo transportation,’ ‘regional economy,’ and ‘port and shipping strategies.’ A comparison of domestic and international studies found that many foreign studies were conducted from an econometric perspective. Conclusions: Keywords, such as port performance and port operations, were actively studied in domestic and international port research.

Strategic Synergies: Unveiling the Interplay of Game Theory and Cultural Dynamics in a Globalized World

This literature review focuses on cultural-related studies and game theory. First of all, it analyzes how social dynamics and strategic interactions can be shaped by different cultural environments. Secondly, it examines how cultural norms can affect strategic decision making and how game theory could predict cooperations and conflicts. Overall, this study aims to highlight the applicability of game theory in the modeling of cultural transformation and its interaction with behavioral economics. Moreover, this study also attempts to underscore the significance of game theory and cultural diversity in communication methods, plus the process of policy formulation. In addition to the above topics, the robustness of cross-cultural social norms, the economic study of different cultural heritage, and the cultural effects of tourism under game theory are also focal points of this study. Finally, this review delves into how game theory can represent social interactions, emphasizing the need to incorporate extensive cultural knowledge in order to enhance the efficacy of game-theoretic model’s applications.