Showing papers on "Economic problem published in 2018"

Consequences of Industry 4.0 in Business and Economics

Abstract: The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions.

Industrial policy in Morocco and its potential contribution to a new social contract

Abstract: Similar to other countries in North Africa, Morocco’s economic model finds itself at a crossroads. The uprisings and subsequent revolutions in many Arab countries in the wake of the 2011 “Arab Spring” have shown that the social contract prevailing in the Middle East and North Africa (MENA) has ultimately failed. Although to varying degrees, the states of the region find themselves in need of redefining their relationships with society and developing long-term strategies to better meet the demands of their constituents. We argue that industrial policy can provide a valuable contribution to establishing a new and better social contract by addressing economic problems, such as job creation and growth, as well as by paving new ways of collaboration between government, business and non-business actors, and thus higher inclusion. This, we argue, can be achieved if key criteria related to embedded autonomy, specifically extensive cooperation across stakeholders, as well as monitoring and evaluation of outcomes are fulfilled. Our findings suggest that the policy-making process in Morocco is becoming systemic in nature, values dialogue with the private sector, and places a stronger focus on industrialisation through dynamic competitive advantage, which might set it apart from other countries in the region. However, some hurdles still need to be appropriately addressed, most particularly to satisfy the second criteria of monitoring and evaluation, which still exhibits major shortcomings, but also concerning deeper inclusion and a more systematic implementation. Yet, although challenges remain, Morocco has taken a promising direction towards addressing the weaknesses of previous policies. If the identified weaknesses are addressed, industrial policy might well prove itself as valuable contribution to a new social contract within the country.

The economic problem of a community: ontological reflections inspired by the Socialist Calculation Debate

Abstract: Implicitly, the Socialist Calculation Debate is about the connection between neoclassical theory and reality. It involves several ontological presuppositions, with wide-ranging implications. Our purpose is to discuss one of these presuppositions. We want to scrutinise the conception, implicit in the ‘market socialist’ arguments, that things have economic roles or functions independently of the social environment in which they exist. Primary factors and techniques of production are taken to exist independently of social arrangements; jointly with consumer preferences, they are supposed to define the economic problem of a community. In criticising this conception, we borrow from F. A. Hayek, complementing his reflections with those of Donald Davidson, Tony Lawson and others. We also discuss a second problem, which follows directly from the first: if, in contrast with the market socialists’ conception, the economic roles of things depend holistically on complex social processes, how can we compare alternative forms of economic organisation?

Contextualising social enterprise in Fiji

Abstract: This study aims to examine the geographic, historical and institutional influences on social enterprise in a small Pacific island country.,Drawing on theoretical literature and factual materials published by reputable sources and based on local knowledge of the authors, the study considers how Fiji’s location; history; and social, economic, political and cultural institutions affect social enterprise.,Social enterprise is influenced by Fiji’s remote location and small economy, which reduces access to external information and suggests that the nation is slow to embrace new ideas. Fiji’s demographics, ethnic divisions and cultural arrangements create economic and political tensions that affect how support services and economic policies are delivered. Indians were brought to Fiji under the British colonial administration, and Fijians with Indian heritage now make up almost 40% of the population. Informal separation and growing tensions between these Fijian Indian citizens and indigenous Fijians have contributed to political instability. The resulting outmigration of skilled nonindigenous people has reduced levels of human capital and expertise. This limits Fiji’s capacity to innovate, including developing a robust social enterprise sector. Although social enterprise could be a very effective way to address social and economic problems in Fiji, it seems unlikely that the government will embrace the concept without support and encouragement from external sources, especially international aid and UN agencies.,Generalisability is not assumed with this study, as it examines only one Pacific island country; however, it is likely that the findings will apply in other small Pacific island countries having similar cultural arrangements.,This paper offers information that will assist practitioners, researchers and policymakers in understanding and negotiating complexities of the institutional environment in remote locations, especially in small Pacific island countries.,As one of the first studies of a small Pacific island country, this paper extends scholarship in this region and adds to the current understandings of social enterprise. In particular, the paper adds valuable, new knowledge of the effects of geographic location, political instability and cultural and ethnic divisions. This study is likely to be relevant for other small countries in isolated locations, especially those in the Pacific region with similar cultural environments.

Research Issues of Structural Changes in Polish Industry in Geography of Industry

Abstract: The research themes of geography of industry are continually evolving. The dynamic development of this sector of the economy after 1945 in the conditions of the socialist economy, in which the processes of industrialisation of the country were treated as priorities, as well as the processes of economic transformation in Poland after 1989, influencing the changes in the previously developed socio-economic structures, including industry structures, influenced the shaping of the research problem of this sub-discipline of geography in Poland. These changes, leading to the adaptation of these structures to the changing management principles, take place under the influence of impulses from the international environment associated with building a knowledge-based economy and moving from the industrial and post-industrial phase to the informational phase of civilisation development. These essential issues of transformation of industrial structures in the period of economic transformation and the development of a knowledge-based economy have become the subject of interest of many researchers, including economic geographers. The article presents the evolution of the themes and the main directions of research on structural changes in Polish industry in the conditions of transition from the centrally planned economy to market economy. In conclusion, it is shown that Polish geography of industry has undertaken significant scientific and economic problems of structural changes in industry during the period of economic transformation, continually updating its research priorities. Researchers quickly reacted to changes in the legal and political conditions of the functioning of the national economy, despite numerous barriers, related to, among other things, limited access to data on industrial activities, resulting in the lower interest of geographers in industrial research. The paper ends with recommendations regarding future possible research directions and a comprehensive bibliography of the studies.

Episode or hysteresis? Some theoretical and policy lessons from the crisis of 2008

Abstract: The post-2008 crisis seems to have come to an end in most countries, but its long-term impacts are increasingly felt by most players of the world economy. Certain economic problems were aggravated,...

Developing a methodology to assess the environmental and economic performance index based on international research to resolve the economic and environmental problems of ukraine

Abstract: The urgency of the research. Developing a new approach to economic and environmental problems grounded on the need to form new awareness and responsibility makes it necessary to conduct an in-depth study of the causes and nature of such problems at the current stage of the national economic development. The problem of developing and substantiating indices in countries such as the United Kingdom, Canada, the United States, is decided by special institutes. At the international level, numerous agencies, organizations, and committees such as WHO, UN, UNESCO, OECD, the World Bank, the European Commission, the Committee on Environmental Modelling (ISEM) are addressing this issue. For a comprehensive assessment of the sustainability of development, take into account the socio-economic and environmental indicators, as well as separate a group of institutional indicators. But for Ukraine, it is impossible to identify the links that require more attention and material support for raising the level of development both nationally and globally. Consequently, the method of calculating the index of sustainable development, taking into account the peculiarities of the functioning of the national economy, needs to be reconsidered and improved. Target setting. Both the state and the enterprises ignored the issues of environmental pollution, which gradually led to a threatening situation for the economy and the environment. Meanwhile, in the current context, economic and environmental problems remain unresolved and are increasingly deepening. Uninvestigated parts of general matters defining. Analysis of the resource potential revealed the urgent need to develop a clear and functioning mechanism of economic and environmental development, shaping the ecological awareness of the nation as a whole, managers and policy-makers, improving and transforming the existing regulatory framework and environmental legislation, as well as the corporate environmental management systems, in particular, based on the environmental performance index. The research objective. The goal of this article is to study the nature of economic and environmental problems of the industrial enterprises and to develop a model of the regional environmental and economic performance index aimed at reducing the environmental costs of the economic growth, ensuring the environmental sustainability of the region, and mitigating the harms in terms of public health. The statement of basic materials. There is evidence proving that the economic problems are mainly caused by the lack of attention to environmental issues. It is proved that to resolve the abovementioned problems, first, there is a need to develop the national economic and environmental awareness based on the national context, using international standards and introducing the best practices of international organizations. Conclusions. Thus, the strategic approach to ensure the sustainable socio-economic development of the country from the standpoint of the economic and environmental model is a transition from the implementation of separate measures to the development and implementation of an economic and environmental concept of the comprehensive public production rationalization.

Globalization: Misguided Views

Abstract: Today, the world is in an evident disarray; many things seem to have gone wrong at once. Various topics: terrorism, drug trafficking, money laundering, black accounts; financial crises, income distribution, global coordination; or the social angriness and growing anti-migration —nationalistic-protectionist— sentiments and policies, show that something has changed for the worse. As we will see, all these events have a common deep cause that we must first understand, in order to be able to cope with its consequences. We are living a technological revolution that, in many ways, surpasses the so-called Industrial Revolutions, particularly because of the speed at which it is bringing change. We defend that institutions have not yet adapted to the new world that this technological revolution has brought about. Today’s inadequate institutional arrangements are sustained by old concepts or economic theories and ideas that no longer work as they did before. This mismatch between the new technological world and the old institutions explains most of today’s world economic problems.

Economic Contributions Of Interest-Free Finance Models

Abstract: The current economic model carries as many problems as successes. For this reason, attempts have been made to develop alternative economic theories. Islamic economics is sustainable in this respect and suggests a strong model. In this study, the solutions Islamic economics proposes for the some economic problems like high inflation and interest-based disparities have been revealed through the model’s Islamic financial applications which are partially reflected in contemporary practice. The studies conducted in this field are insufficient. At the same time, by revealing the true spirit of the interest-free financial system, suggestions have also been included for solving problems arising from current interest-free financial practices. Through these aspects, the study fills the gap in the literature. Thus, improving practices and developing models is important both for theorists and professionals.

Development of living floor spaces on the basis of ecological economic and social programs

Abstract: The mankind the activity moves to an ecological disaster. The technocratic approach to the organization of activity breaking environment ecology forces to defend the Nature accidents. The mankind crossed line of technological development when the Planet became vulnerable. Will help to rescue mankind from an ecological disaster, ecological thinking and behavior of people, and their ecological responsibility, the moral relation to the nature; harmonization of vital system by waste-free industrial cycles of the combined productions; eco-world formation. The problem of global ecological stabilization can be solved by implementation of social and economic interdisciplinary programs, such as, first, the ecological program “Clean Air, Clear Water, Pure Food, Net Energy, Pure Cities and Villages, Pure Nature”, secondly, the program of development ecological and health the preserving with the filled economy resources, thirdly, the “Development Health of the Preserving Medicine and Health System” program, fourthly, the program of the ecological focused interdisciplinary education, fifthly, the program of peaceful, humane environmental policy, sixthly, the program of civil education of harmonious life for a sustainable development, seventhly, the program of formation of fair democracy as way of life of society. Social and economic programs for stabilization of ecology need to be realized under the competent direction and control of the institutionalized infrastructure of scientific and educational society and on the basis of ecological thinking and behavior of all segments ofthe population. World community will have to undertake decisive measures to stabilize the environmental ecological processes in order to keep modern and future generations supplied with a harmony between the meeting of their reasonable needs, social and economic problems decision, with the life on the Earth being preserved.

Production and Economic Relations on the Internet: Another Level of Development of Economic Science

Abstract: Limits of defining the notion “Internet economy” have been obscure for a long time, bereaving the interested people of the possibility to form a clear idea on its as of a specific direction of modern economic theory. A lot of studies of modern authors are devoted to the sense and specifics of Internet economy—their results are publishes in peer-reviewed international journals and books. Some authors define Internet economy as a completely new type of economic system that possesses unique (revolutionary) specific characteristics. Others think that Internet economy is a new stage of evolution of economic systems that follows post-industrial economy (or knowledge economy that is sometimes distinguished as a latter system). Other scholars state that Internet economy is just a concept and new possibility that appeared with emergence and distribution of Internet-technologies and that is not yet realized in any country of the world and will not be reflected in the real world anytime soon. Especially peculiar features of Internet economy that stimulate such metamorphoses include: intense use of the systems of electronic payments, low level of constant expenses, Internet economy’s founding on the law of increasing feedback, capability to provide opportunities for creative expression of a personality within personality’s functioning, etc. Internet environment, as a core of functioning of Internet economy, influences directly and indirectly the whole totality of landmarks of online business activities, among which the most important ones are commerce, marketing, stock markets, government, insurance, consulting, mass media, investing, banking, education, tourism, hosting, money, providing, freelance, logistics, etc.

Economic development problems and crisis in the european union, 2005-2015

Abstract: We analyze economic development of 42 European and Eurasian Countries for the period 2005-2015, and show the negative consequences of the EU austerity policies on the European Union as whole and in many countries. The study includes 25 European Union countries: 14, out of EU15 countries with accession before 1996, and 11 with accession afterwards, and it compares the annual increase of those country for the periods 1990-2005 and 2005-2015. The consequences of austerity policies where negative for 13 out of 14 EU15 countries (all but Germany), with increases lower in the second period, and in particular for 4 countries with decrease of real production per head in the period 2005-2015: France, Italy, Spain and Greece. The austerity policies of the European Union, have failed to solve the economic problems, because they did not have into account important measures to get sustainable development. The persistence of these policies is damaging the trust of many European citizens on the EU bureaucracies, as showed in the Euro-Barometer, and it is provoking a lot of social unrest and political instability in many countries. Here we present a review of the literature on this important question and an analysis of the main policies that should be developed by the European Union in order to favour sustainable development and social inclusion in all its member countries. The analysis has into account a wide macro-econometric view from demand and supply, having into account not only the role of investment and demand but also the role of industry and foreign trade

Hayek and market socialism

Abstract: Hayek’s understanding of the nature of the market process developed as a critique of the economic theory of market socialism. These market socialists believed that a centrally planned economy, organized around the rational economic order described by neoclassical economics, would outperform the anarchy of the free enterprise system. To Hayek, this position misunderstood both the nature of the knowledge that economists have about the economy and that economic agents possess. Hayek saw change as the ultimate cause of the economic problem of society. This led him to conclude that alternative economic systems must be compared and evaluated on their ability to utilize the local knowledge of individuals to adapt to unexpected change in economic circumstances.

The frame of reference for new economic thinking

Abstract: After the crisis of 2018-2010, which led to the complete discrediting of neoclassical theory, the demand for new scientific ideas and an alternative vision of the most fundamental economic problems has sharply increased in economic science At the same time, the discrediting of the neoclassical theory led to a critical attitude to the very idea of a general economic equilibrium, which is the central idea of neoclassical paradigm The emphasis is increasingly shifting to the creation of disequilibrium models of economy This book argues that this approach is incorrect The wrong is not the very idea of equilibrium, but its neoclassical understanding and its concepts and equilibrium models, which are caused by false methodologies of neoclassicists Without a preliminary dialectic analysis of economic categories and the operationally closed model of commodity-money flows of a market economy created on its basis, it is impossible to find out feedbacks that ensure the self-regulation of the economic system The “Symmetrical model” of general economic equilibrium, which shows how economic forces arise, where they are directed and how interact with each other, which provide the homeostasis of a decentralized economic system, is proposed This model shows the attractor of a real disequilibrium economy It is shown that the evolution of market economy, which due to the immanent logic of intrasystem processes generates extreme inequality in income distribution, leads to a disruption in the harmony and symmetry of counter flows of commodity and money, thus destroying the system of positive and negative feedbacks that provide the homeostasis of economic system This book is a collection of articles Since each of them is a complete whole, the reader can get acquainted with the articles in any sequence, but after reading all of the articles, he will get a new non-standard understanding of functioning of a market economy Although each article gives a complete analysis of a specific topic, nevertheless, all of them are arranged in such a sequence that they serve as different stages in the development of a single original concept, beginning with a methodology and ending with a mathematical model of a general economic equilibrium

Toward a Unifying Perspective on Economic Complexity: The Contribution of Chinese Econophysics Community

Abstract: Recent years have witnessed a series of economic problems and financial crises, the recent subprime debacle being one of the worst. All these events called traditional economics into question and new perspectives have been developed to take into account the complexity of economic systems. This essay aims at contributing to a better understanding of a new trend labeled econophysics through two points: 1) a discussion on the conceptual links between statistical econophysics and agent-based econophysics; and 2) an overview of works dealing with these links that interestingly, emphasize the importance of econophysics in China.

Is Boko Haram a “child” of economic circumstances?

Abstract: Purpose The purpose of this paper is to empirically investigate the question: “Is Boko Haram (BH) a ‘child’ of economic circumstances”? In other words, do economic problems of poverty, unemployment, illiteracy and population growth lie at the root of BH insurgency in Nigeria? Finding (an) objective answer(s) to this question informs the purpose for this paper. Design/methodology/approach The author uses both ordinary least squares (OLS) regressions and descriptive statistics to provide answer(s) to the question(s) asked. Findings The OLS regressions result show that terrorism incidence and intensity (TII) and unemployment levels are positively related and statistically significant over the range of the sample. Gross domestic product and population growth of the country on the other hand have been found to be statistically insignificant with TII. The results from the descriptive statistics show a high and above average Northern Nigeria’s economic indexes of poverty, unemployment, population growth and illiteracy rates. Thus, the author deduces that economic factors of poverty, unemployment, illiteracy and unchecked population growth could not be ruled out as possible causes of BH terrorism. Research limitations/implications The findings of this research may be peculiar, limited and applicable only to the region of research – Northern Nigeria. The author is, therefore, constrained to generalise the findings across countries or other terrorist organisations. Also, while terrorists often quote religious texts to justify their actions, researchers often find it difficult to establish the veracity of such claims because: religious texts are, more often than not, subjects of different, contextual, sectarian and scholarly interpretations and If we take the terrorists’ claim for religious inspiration at their face value, the contradiction of why terrorists represent a minority fringe in particular religions or, why the vast majority of those who share same religion with terrorists do not partake in terrorism, crops up. For these reasons, this research is constrained from exploring terrorists’ religious motivations. Practical implications An implication of the findings of this research is that it avails the Nigerian Government with fact that, to fight BH successfully, it needs to also address the issues of poverty, unemployment, illiteracy and uncontrolled population growth. Thus, in essence, the anti-BH campaign should not only be limited to the “sticks” but the “carrots” of poverty alleviation, unemployment reduction, raising literacy rates and awareness about controlling birthrate. Social implications Social welfare programs are likely to be devised to tackle the issues raised. Originality/value To the best of the author’s knowledge, no research explored the possibility of whether or not economic factors of poverty, unemployment and illiteracy could have been the causes or contributory factors for the emergence of BH terrorist organisation in Nigeria. Research on BH mostly focusses on social and political dimensions leaving the economic aspect either superficially explained or completely unexplored. The originality of this paper derives from this.

Towards the Solution of the Economic Problem? – On the Non-Revolutionary Relationship between Working Time and Productivity

Abstract: The increase of productivity we faced in the last hundred years was the basis for fundamental predictions on how a rising standard of living would reduce working time in the long run. Keynes predicted in 1930 that the economic problem would be solved and “mankind will be deprived of its traditional purpose” (Keynes 1931[1930]: 366). It is quite obvious that Keynes prediction is wrong when it comes to working time. This article takes a closer look at the developments of working time and productivity in Austria, Germany and Switzerland. Since the beginning of the 1970s, in all three countries under investigation, working time reduction ended. By discussing reasons for the abrupt ending of working time reduction this article proposes a theoretical model on the development of working time, wages, and produc-

Beyond behavioral economics: who is the economic man

Abstract: There are two reasons to go beyond Behavioral Economics. The first reason is that humans, as presented by this school, do not explain many critical economic problems. Behavioral Economics is not an alternative paradigm to traditional economics. It is only one of the New Schools of thought, that has risen due to the failure of the contemporary Neoclassical School to show that markets have a unique maximum welfare full employment equilibrium. Therefore, in order to delimit Behavioral Economics contributions we need to look at the whole paradigm in economics, which today includes: the contemporary neoclassical paradigm plus all the New Schools of thought. The second reason is that humans, as described by Behavioral Economics, are not a good representation of mans evolutionary characteristics. For Behavioral Economics, humans are emotional beings which often do not know what is best for them, and need the help of the government to make the choices which are truly convenient; and they display altruistic and social cooperative behavior, even in monetary transactions. But evolutionarily we are neither design to be emotional or rational, nor to be selfish or altruistic and socially cooperative. We are design to be flexible for survival purposes, and to display a wide range of behaviors.

Economic development as a way to fight against poverty in a coastal society

Abstract: This research is based on the phenomenon of low construction in coastal village areas, primarily in relation to the economic development sector. This study was conducted in order to determine the low economic level of coastal rural communities and its abundant natural resources (SDA) . The government has already issued a public policy related to economic empowerment and coastal zone management. However, the coastal village community’s economy remains very low. The qualitative and phenomenological approach was used to obtain the findings about why society in coastal villages is economically low level. The main cause of the economic problem was the lack of ability of the public to capture the business opportunities that existed. In addition, the constant hereditary lifestyle of the coastal people is one of the triggers of their low economic power. There is a lack of distinct empowerment by the government in order to improve their economy. SDA has not been optimally empowering coastal areas by way of the village communities of the coast and there is a lack of village infrastructure. The concrete participation of the local government is expected in relation to the handling of economic empowerment. One solution that can be undertaken is the revamping of public policy related to the development of coastal villages. The completion of the installation program for paving and street lighting is also a priority. The development and empowerment of the economy should be done immediately. Another thing that can be done by the government is the optimisation of the religious and beach tourism there.

Global Determinants of the International Movement of Production Factors: Economic-legal and Institutional Context

Abstract: Scientific research is devoted to current problems of the influence of globalization on changes in the international movement of production factors in the 21st century. Considerable attention is focused on the economic, legal and institutional aspects of the transformation of the international movement of capital and labor in modern conditions, taking into account the need to apply an integrated interdisciplinary approach to identify new phenomena and processes that occur in the global economic environment The state and trends of development in the organization of global production, investment and marketing in the context of destabilizing phenomena in the global economy, the strengthening of non-protectionist appeals in the world avant-garde countries to return production to the national territory and the exacerbation of social and economic problems caused by international migration are revealed. The authors are looking for answers to difficult questions about the opportunities for small open economies to be attracted to global value chains through the format of investment and contractual relations, to increase the level of localization of international and national production through import substitution, to optimize the taxation of entrepreneurial activities in a liberalized international capital transfer, transform the national regulatory policy as a mechanism that ensures the possibility of taking into account the imperatives of globalization and contributes to the protection of national economic interests, ensure the development of fair competition as a prerequisite for the country’s integration into world economic processes.

Strategy community development based on local resources

Abstract: The problem of progressing regions is not far from economic problems and is often caused by the inability of the regions in response to changes in economic conditions that occur, so the need for community development programs implemented to solve various problems. Improved community effort required with the real conditions and needs of each region. Community development based on local resources process is very important, because it is an increase in human resource capability in the optimal utilization of local resource potential. In this case a strategy is needed in community development based on local resources. The community development strategy are as follows:(1) "Eight Line Equalization Plus" which explains the urgency of rural industrialization, (2) the construction of the village will be more successful when combining strategies are tailored to regional conditions, (3) the escort are positioning themselves as the Planner, supervisor, information giver, motivator, facilitator, connecting at once evaluators.

Law and Economic Development in the United States: Toward a New Paradigm

Abstract: Economic development is the term that has been associated with less developed countries in the Third World (“developing countries”), not the economically advanced countries (“developed countries”), such as the United States. However, the changing economic conditions in recent decades, such as the widening income gaps among individual citizens and regions within developed countries, stagnant economic growth deepening economic polarization, and an institutional incapacity to deal with these issues, render the concept of economic development relevant to the assessment of the economic problems in developed countries. In the United States, these economic problems caused a significant political consequence such as the unexpected outcome of the presidential election in 2016. This article examines the applicability of the legal and institutional approaches, which were originally adopted to stimulate economic development in successful developing countries, to the economic problems in the United States. The article also examines the relevance of the right to development (RTD) and discusses how the RTD could be recognized and applied in the United States context to facilitate the suggested legal and institutional approaches.

The Novel Paradigm Of “economic Driven Smart City” To The Sustainability

Abstract: A Smart city (SmC) is a model to improve the urban and quality of life in city with the understanding that a SmC is filled with state-of-the-art technology, whether IOTs or ICT (Technology Driven). Whereas the opposite said, a SmC should be aiming to support people (Human Driven). But in an effort of the 2 concepts, got an important neglected, "what are the people real needs?" Many cities are still facing with the problem as unemployment, poverty and social disparity, that mainly caused by Economic problem. A current SmC model unable to solve this problem. This research purpose the Economic Driven and Economic Factor of a SmC model, to solve and improve this issue, The Economic Factor Analysis by GDP/GPP is developed to analyze the Localization of Economic and modeling the new SmC with the fully integrated dimension, and the direction of government policy, to ensure the SmC to a successful and sustainable.

Оценка рисков экономической безопасности на примере Кировской области

Abstract: The relevance of the regional management of the economic sphere due to the existing economic problems in the country, when the regions are responsible for the significant part of the socio- economic obligations to the population. Therefore, proper management of the economy of the region depends on the well-being of the population, development of regional infrastructure, the possibility of further economic growth and development, social stability in society. Sustainable development of regional socio-economic systems is impossible without an adequate level of economic security of the region. The level of economic security of the region is primarily assessment of the socio-economic processes that reflect the essence of economic security, consisting of a set of interrelated indicators. According to most economists, analyzing the economic security issues, forming the basis of this set of indicators acts as a close relationship with the concept of security risk category and category of threat.

Currency union and comments on macroeconomic indicators of european economies after euro crisis

Abstract: With the introduction of the euro as the common currency, macroeconomic developments have led to the rapid expansion of the economic problems among the economies of the European country. The high level of integration and the increase in the level of influence resulted in a problem that would arise in a European country, and in a short time, also in other countries. Starting from the first half of 2010, especially the economic problems in Greece, extended to the other European countries in a short period. Countries such as Ireland, Portugal, Spain, Italy and Belgium faced serious economic problems after the debt crisis of Greece economy. The crisis is largely taken as a problem connected to the common currency. Therefore, the fact that countries with different economic conditions use the same currency creates an important discussions in the literature. In our study, we focus on monetary union and the process that bring the Eurozone area to the debt and economic crisis. In addition to discussions on the 2010 crisis in the European Union, the economies of the countries of EU will be grouped in the framework of Euro area-non Euro area criteria and will be subjected to a statistical analysis based on some macroeconomic indicators.

Why has Japan’s economy been staggering? A competitiveness perspective

Abstract: Once one of the most prominent economies in the world, Japan is currently suffering from economic stagnancy. To revitalize the economy effectively, the core problems of Japan and its economy need to be first identified. This paper aims to understand accurately what the fundamental reasons are for Japan’s current economic stagnancy.,The generalized double diamond model, which is an extension of Porter’s original diamond model is used to incorporate internationalization which is very important for Asian countries, notably Japan. Furthermore, its competitiveness is compared with neighboring countries that are in competition in the global market.,Japan’s current economic problems and its slow recovery are because of a lack of globalization vis-a-vis its counterparts in the region, rather than specific macro-economic factors. Hence, further globalization is crucial toward ensuring a further take-off for the economy.,Macro-economic policies may be important but cannot directly improve a nation’s competitiveness. This paper highlights the importance of globalization and concludes that multinational activities are crucial to enhance a nation’s competitiveness in both domestic and international scope.,This paper adopts the concept of national competitiveness to examine the fundamental economic problems of Japan’s slow recovery and stagnancy more comprehensively. In particular, it compares the competitiveness of Japan with its neighbors which are its economic competitors.

The Failure of the Washington Consensus, the Need for a New Reform and the Rise of the Beijing Consensus

Abstract: Global economic policy dominated by the influence of the Washington Consensus during the past few decades has led to many upheavals in the global economic order. The term Washington Consensus is associated with three major institutions located in Washington, the World Bank, the International Monetary Fund (IMF), and the US Treasury Department, and it has become a neoliberal economic agenda also called as the western economic agenda. The debates are increasing significantly regarding the effectiveness of policies that are sourced from the World Bank, IMF and the US Treasury Department in encouraging development. Where in reality, those countries that adopt the recommendations derived from the Washington Consensus, mostly bring them to experience economic problems. The last example is believed to be the 2008 global financial crisis. In this journal, the author will explain and analyse the definition and the recommendations offered by the Washington Consensus in order to promote global development. It will also present various criticisms that have emerged from the various parties to the Washington Consensus. Various analysis will also be given to understand that the Washington Consensus is already less suitable and appropriate for use to encourage the global development today. Then this journal confirms the need for a new reform of the global economic order, namely with the policy recommendations for the new global economy through a new consensus. The rapid development of globalization has changed characteristic of many countries, especially developing countries, so that many developing countries begin to look for new formulas to boost their economies. Because the Washington Consensus is seen only benefit developed countries, while developing countries and least developed countries are experiencing a lot of problems of development. Thus, due to the demand and push for a reformation of the global economic order, China and the countries of the region have established the Asian Infrastructure Investment Bank (AIIB), based in Beijing, and it is now often called as the Beijing Consensus. Then, it now becomes a real sign of resistance to the Washington Consensus.

The Russian North: Economic and Geographic Aspects of Development

Abstract: From the standpoint of socioeconomic geography, investigations into the challenges of the Russian North involve matching the structural and functional characteristics of its territorial economic systems formed in severe and extreme climatic conditions to their functionality The territorial economic systems are presented as organizational forms of productive forces to address the main national economic problems whose solution is primarily associated with the modernization of production, social and infrastructure facilities established in the North

Основные направления повышения эффективности хозяйственной деятельности в Арктической зоне Российской Федерации

Abstract: Organization of efficient economic activity in the Arctic zone requires development of human potential, transport infrastructure, exploitation of natural resources under the conditions of greatest possible environmental safety. In order to choose preferable trends of economic development and to provide efficiency of operations in the Arctic zone it is crucial to perform research in the areas of industrial efficiency upgrading and rational use of fuel, energy, mineral, chemical and biological resources of the Ocean and littoral areas of Russian Arctic. The paper analyzes major trends in the research on increasing economic efficiency of operations aimed at territory development in the Arctic zone. The authors justify the need to examine economic problems of rational resource use in the Arctic zone of Russia based on the proposed system of resource-estimation indicators and their application in establishing a mechanism of rational resource use with a due regard to protection of the marine environment. The paper also focuses on methodological problems of the target programme approach to complex development of the Arctic zone, creation of target programmes, industrial development and rational use of natural resources. The authors give rationale for the key task in this area – development of methodological principles of forming federal and regional target programmes, aimed at exploration, exploitation and rational use of natural resources in the Arctic zone of Russian Federation. An analysis is provided that focuses on the problems of creating a scientifically justified hierarchical system of programmes and regional regulations, creation of a scientific information data bank and other methodological issues.