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The genus Rosa consists of more than 200 species. Among these Rosa damascena Mill belongs to the Damask group of roses which are known for their strong fragrance. R. damascena has been cultivated as garden rose in some west European collections but it is mainly grown for production of rose oil and rose water obtained after steam distillation of the rose flowers. It is considered that the oil rose originates from ancient Persia (today Iran) and has been later spread to Europe and Northern Africa. By the 14th century the Damask roses were already grown in West European rose collections as garden roses. Rose oil is mainly used in the perfumery and cosmetics industry as a base component of many of the modern perfumes but it also finds application in the food industry as a flavor additive. The main producers of rose oil are Bulgaria, Turkey, Iran and India. Smaller amounts of rose oil and mainly rose water are produced in the countries of Northern Africa. The price of the rose oil has been growing during the last years. The rose oil and rose flower extracts have been studied for a number of health-beneficial effects including antibacterial activity, antioxidant activity, anti-infective and anti-inflammatory properties, relaxant effects on tracheal chains and anti-HIV activity. [ABSTRACT FROM AUTHOR]

Most of the research in the macroeconomic theory points to the fact that the most important economic aggregates at the level of the economy are: the gross domestic product, the level (rate) of unemployment and the inflation rate. The gross domestic product represents the most synthetic indicator of the total economic activities of a country, i.e. of the reached level of its economic development. This paper presents the methods for calculating GDP: the production, income and expenditure method. Also, in the focus of analysis of this paper are the classical models of economic growth, Keynesian models of economic growth, neoclassical models of economic growth and new models of economic growth. [ABSTRACT FROM AUTHOR]

The history of the ora (with the symbol ɸ) as a trade instrument is inextricably linked to the history of Orania, a village on the southern bank of the Orange River in the Northern Cape Province of South Africa. The closest town to Orania is Hopetown (43 kilometres to the northwest). Or ania is about 160 kilometres south of Kimberley, the biggest city in the Northern Cape. Orania has a number of unique features. Firstly, all inhabitants are white and speak Afrikaans, with the implication that this is the language used for all activities (business, education, religion and social interaction). It is therefore viewed as a white Afrikaner cultural enclave. Secondly, the aim of Orania is self-determination as far as its future is concerned. In this context it has been described as a continuation of the Verwoerdian ideal of the 1960s. This aim is supported by “selfwerksaamheid” (loosely meaning “to work with our own for our own”), that is, a policy in terms of which preference is given to the employment of people from Orania. Thirdly, Orania has its own trade instrument, the ora, the symbol for which is ɸ. 2 The ora is described as a coupon used in settlement of cash transactions. Calling the ora currency would be a contravention of the South African Reserve Bank Act, 1989. The Orania Sakekamer [chamber of commerce] issues the ora. It is linked on a one-to-one basis to the South African rand, that is, at a rate of ɸ1,00 = R1,00. The inhabitants of Orania prefer to use ora when referring to amounts and this paper follows the same convention. Literature on Orania refers to the ora and its use in trade, but there is no research focusing on the development of the ora since it was first launched in 2004. This paper seeks to contribute to filling this gap in the existing literature. The ora serves the needs of the inhabitants of Orania. A population census undertaken in Orania in December 2021 and early in 2022 reported the town’s population as 2 377 people, of whom 1 635 were 20 years and older. The same census also showed that Orania comprised 649 households and 220 businesses. Based on the 2021/22 census, the total personal annual income of the residents of Orania in 2021 was estimated at ɸ295 672 222. Per capita personal annual income of the 2 377 inhabitants was therefore estimated at ɸ124 389. Based on the same census data, the annual household income in Orania was estimated at ɸ190 331 179. The difference in estimates cannot be explained in terms of the 2021/2022 census data and was previously highlighted as an area for further research. These estimates show some correlation with the survey data obtained from the 2021 business survey conducted in Orania. Business turnover in 2021 was estimated at Φ281 950 000. More research is necessary to ascertain whether the increase in the value of ora issued correlates at all with the growth rate of economic activity in Orania. If this correlation can be determined, ora in circulation will be a useful indicator of the growth of economic activities in Orania. The growth rate of ora coupons cannot be compared with growth in economic activity because the latter has not previously been calculated on a comparable basis. Recently research was published that will contribute to a basis for determining future economic growth. This research shows that the ora contributes to “community building” (a sense that the residents are building their own future) in Orania and limits cash risks in the town. However, the ora also has certain disadvantages for residents of Orania. Holders of ora coupons and dOra must exchange them for rand in Orania for cash transactions outside the town. Any discount that businesses grant on ora transactions reduces their turnover and gross profit. The fact that ora coupons are not machine-readable increases the administration costs of the coupons. The final conclusion is that the ora is inextricably linked to Orania. The town can exist without the ora, but the ora cannot exist without Orania. [ABSTRACT FROM AUTHOR]

The paper deals with the analysis of the existing legal framework of the status of sea kayaks in the Republic of Croatia, the definition and the position of a kayak as a vessel in the domestic navigation safety system, and its goal is to present the regulation and give a critical review thereof. The types of kayaks are presented with respect to their purpose and construction, the univocity of the term in domestic legislation is questioned, and the solutions of the French model, which individualises these vessels with regard to the mentioned features, will be presented comparatively. The paper also presents kayaking as a sport and economic activity, as well as the necessary education of kayakers for the needs of active and adventure tourism. The paper analyses the international and national legal framework of navigation safety. The results of a survey of legal regulation of sea kayaking in the Republic of Croatia are also presented. The authors conclude that sea kayaking in the Republic of Croatia has not been properly regulated and that the existing legislation needs to be changed. [ABSTRACT FROM AUTHOR]

• The paper estimates the effect of changes in the wage share on the growth rate of the US economy for the period 1947–2019. • We use a time varying parameter model, which allows for continuous changes in the regime over time. This is the first paper that has attempted to do this. • We find that the US economy became more profit-led in the first postwar decades until the 1970s and has become less profit-led since. In the last fifteen years of our sample the effect of changes in distribution on economic activity is statistically insignificant. This paper estimates the distribution-led regime of the US economy for the period 1947–2019. We use a time varying parameter model, which allows for continuous changes in the regime over time. To the best of our knowledge this is the first paper that has attempted to do this. This innovation is important, because there is no reason to expect that the regime of the US economy (or any economy for that matter) will remain constant over time. On the contrary, there are significant reasons that point to changes in the regime. We find that the US economy became more profit-led in the first postwar decades until the 1970s and has become less profit-led since. In the last fifteen years of our sample the effect of changes in distribution on economic activity is statistically insignificant. [ABSTRACT FROM AUTHOR]

• Manufacturing share in India's GDP has increased by about 16 percentage points between 2003 and 2018. • Dominant contribution to increased manufacturing GDP share is made by petroleum refining. • There has been a tremendous increase in the real value-added share of ICT equipment industry. • For assessing properly the performance of manufacturing, double-deflation of GDP is essential. Contrary to a widely held impression that the share of manufacturing in India's GDP has long stagnated, the paper claims that it has increased significantly. Measured at the prices of different goods and services prevailing in 2004-05, and deflation applied separately with input prices as well as output prices to account for differential input price trends, the GDP share of manufacturing has increased during the post-reform period from about 17 per cent in 1993-94 to about 32 per cent in 2018-19. The paper notes that the concept of real share in GDP relates to the volume effect and represents the change in the share of the volume of manufacturing activity out of the volume of all economic activities in the Indian economy. Some explanation is provided for the apparent stagnancy of the share of manufacturing in India's GDP at current prices. [ABSTRACT FROM AUTHOR]

The fear of falling behind has been a driving force of European integration. Historically, Europe's response to the looming angst of declining competitiveness has been more market-creation, not market-direction. Recently, however, Europe has – in the name of safeguarding Europe's technological sovereignty – taken on a much more active role in directing economic activity towards sectors and technologies deemed geopolitically or geoeconomically important. In this paper, we attempt to explain this 'geo-dirigiste' turn. We reconstruct the evolution of EU industrial policy through the lens of Europe's fear of falling behind, drawing not only on primary (including archival) and secondary sources, but also on original interviews and deep transfer learning applied to an original dataset of 66.548 documents. Focusing on Europe's changing technological and geopolitical context, its coalitional underpinnings, and the role of ideational politics, we document and explain the historic shift away from market-creation and towards supranational market-direction in EU industrial policy. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to address basic dilemmas of the strategic interventions policy delivery within the framework of spatial governance and the recent financial and social conjuncture in Europe. The related research concerns the case of the former ‘Hellinikon’ airport area in Athens. Because of the unfavourable economic situation and the inability to form an effective spatial governance framework, the state retreated and the initiative was taken by the private sector, shaping the frame for a fragmented ‘spatial fix’ of global economic activity. [ABSTRACT FROM AUTHOR]

AbstractThis paper examines the influence of climate change vulnerability on the likelihood and severity of communal violence, with a particular emphasis on delineating large-scale regional patterns. Specifically, the analysis centres on Sub-Saharan Africa and South/South-East Asia – both regions being predominantly characterised by rain-fed agriculture and climate-sensitive economic activities – spanning the years 1995 to 2021. Relying on the ND-GAIN Vulnerability Index as a multidimensional measure for propensity of societies to be negatively impacted by climate change, we found robust evidence that greater vulnerability is conducive to a higher likelihood and severity of communal violence in Sub-Saharan Africa. On the other hand, in South/South-East Asia, results suggest that current climate variability, measured as rainfall deviations within the period, exerts a greater effect on communal violence outbreak than overall vulnerability to climate change. In both regions, greater access to productive means is significantly associated to the reduction of communal violence. [ABSTRACT FROM AUTHOR]

This paper analyzes the role of networks in the spatial diffusion of local economic shocks in Africa. We show that geographic connectivity, along with road and ethnic connectivity, are important for diffusing economic spillovers over longer distances. We then determine the key players, that is, which districts are key in propagating local economic shocks across Africa. Using these results, we conduct counterfactual policy exercises to evaluate the potential gains from policies that increase economic activity in specific districts or improve road connectivity between districts. [ABSTRACT FROM AUTHOR]

In Romania, one of the countries with the largest Roma community in Europe, the gap between the majority population and the Roma minority continues to be wide. The paper explores whether there is a sustainability of traditional Roma occupations and crafts or whether we are witnessing a continuous occupational dynamic. The objective of the research is to identify the patterns of traditional and non-traditional economic activities practised in Roma communities in two cities: Timişoara and Cluj-Napoca. The research hypothesis investigates whether there is a wide range of economic activities in analyzed Roma communities, where traditional activities tend to have a negligible share and dynamics compared to non-traditional ones. Also, we analyze whether traditional activities remain relevant in Roma communities and whether they represent a significant occupational resource in the case of external migration. The following statistical hypotheses are presented: there are significant differences between members of Roma communities in Timisoara and Cluj-Napoca. These are observed in the choice of practising non-traditional-traditional economic activities in the country. There are significant differences between members of Roma communities in Timisoara and Cluj-Napoca in the practice of traditional versus non-traditional occupations according to ethnic subgroup membership. [ABSTRACT FROM AUTHOR]

Objectives: This paper examines the impact of local economic activity on criminal behavior. We build on existing research by relaxing the identification assumptions required for causal inference, and estimate the impact of local economic activity on recidivism. Methods: We use the fracking boom as a source of credibly exogenous variation in the economic conditions into which incarcerated people are released. We replicate and extend existing instrumental variables analyses of fracking on how many released offenders return to state prison seperately from aggregate crime and arrests. Results: Our instrumental variables estimates imply that a ten thousand dollar increase in the value of per capita production is associated with a 2.8% reduction in the 1-year recidivism of ex-offenders at the county level. Improved labor market conditions, specifically an increase in wages for young adults, may explain a non-negligible fraction of the reduction in recidivism associated with economic booms. In contrast, we replicate existing work finding that fracking increased aggregate measures of crime and arrests. Conclusion: Increased economic opportunity appears to have a different impact of overall crime than on recidivism. This suggests that the relationship between economic opportunity and offending may be conditioned by local social ties. Further research examining how social connections and labor markets affect individual criminal behavior is needed. [ABSTRACT FROM AUTHOR]

We build an endogenous growth model featuring a new mode of human capital accumulation in a data economy. Data are generated as the byproducts of economic activities and then used by consumers for human capital accumulation apart from education. Although we find similar growth patterns compared with those in the related literature, economic growth is further accelerated by the new use of data factor. Quantitative analyses suggest that although the accumulation of human capital is promoted by the increasing importance of data, this promotion is not unlimited since data may over-absorb resources and crowd out education. In the transition dynamics, we see that consumers suffer temporary welfare loss. However, as data become a key factor in human capital accumulation, welfare ultimately increases. Our paper provides a first view of the effect of the data factor in the process of human capital accumulation. • Digital economy promotes economic growth through human capital accumulation. • A model is built to incorporate data into human capital accumulation. • The promotion effect of data on human capital accumulation is not unlimited. • In transition dynamics, consumers may face temporary welfare loss. [ABSTRACT FROM AUTHOR]

Despite the evidence that women in Sub-Saharan Africa become entrepreneurs faster than any other group globally, more studies are needed to understand the motivation(s) for their decision to pursue entrepreneurship. This paper aims to contribute to research on what motivates Sub-Saharan African women to become entrepreneurs. A case study approach was utilized to understand the experiences of 20 women entrepreneurs from Sub-Saharan African countries of the Democratic Republic of the Congo (DR Congo), Ghana, Nigeria, Zambia, and Zimbabwe. All the study participants had tertiary-level education and left their corporate careers to pursue entrepreneurship. Pull and opportunity factors were the main factors that motivated the women interviewed to become entrepreneurs. Push and necessity factors accounted for a few cases. The level of education did not dictate the pull and opportunity factors of motivation. These findings are important because previous studies have stereotyped Sub-Sahara African women entrepreneurs with the generalization that they are motivated to become entrepreneurs by push and necessity factors and are often uneducated and on the fringe of economic activity. The paper makes specific policy recommendations for harnessing motivations and linking them to broader economic development goals. [ABSTRACT FROM AUTHOR]

Simple Summary: In this paper, we present the zooarchaeological and taphonomic study of a new Bronze Age site in the inland of the Iberian Peninsula. This study represents a significant contribution within the studied area, as it analyses the Pista de Motos faunal collection, one of the few representative samples from this period. This paper significantly contributes to completing the scarce information available for the Bronze Archaeology in the Middle Tagus Valley, located inland of the Iberian Peninsula. The Bronze Age zooarchaeological research for the interior and other regions of the Iberian Peninsula is currently limited. Despite several sites with known zooarchaeological profiles from the period, the main issue is that most of these derive from fragmentary and unrepresentative faunal records or are biased profiles from old excavations. New work has yielded novel zooarchaeological results in recent years that could help fill the existing zooarchaeological information gap in the Iberian inland, particularly in the Middle Tagus Valley. However, these projects are in the initial research stages and have not published much of their results. This paper presents the zooarchaeological profile of the Pista de Motos Bronze Age site to help fill this information gap. It analyses the taxonomic representation, skeletal profiles, and human activity patterns associated with faunal use. These observations suggest that animal exploitation at the site followed two primary purposes. One was linked to economic activities, mainly to obtain meat, milk, wool, or animal labour. The other was probably associated with symbolic-ritual practices suggested by the complete animal burials in some excavated units. We contextualise these interpretations with evidence from other Bronze Age sites in the Middle Tagus Valley. Finally, the paper assesses to what extent Pista de Motos is a relevant site for the zooarchaeology of the Bronze Age in the Iberian inland. [ABSTRACT FROM AUTHOR]

This paper presents an attempt to examine the place of ICT and Globalization in the world economic activities but did not fail to note, list, and draw attention to the doom being perpetrated by this modern change. Apart from the discussion of some relevant and touchy topics in ICT and Globalization, the paper contains an examination of the concept of ICT, the role of ICT in the economies of the world and ending up in globalization of the entire human race. ICT and Globalization will lead to the risks that many of our valuable information will be lost, stolen, corrupted, or misused. Through the interconnected systems it has become so easy for people to penetrate into others privacy and such unpermitted access could cause harm and loss of computers and files. The gains and losses of ICT and globalization which ought to cancel each other out are in some cases insurmountable, putting nations at advantage over others. [ABSTRACT FROM AUTHOR]

Globally, cities have become hubs for economic activity, productivity, and important platforms for achieving sustainable development goals. The potential of urban agriculture (UA) in improving urban local economies and urban micro-climate has been acknowledged in the literature. The study looked at how the concepts of UA, local economic development (LED), and climate change can be treated in unison. Based on the review of credible published papers on the various concepts of UA, LED, climate change and nature-based solutions (NBS), a proposed conceptual framework was developed in this paper showing the linkages. The paper established that UA could boost LED, build resilient urban settlements, and promote social inclusiveness, but with social challenges. It is therefore recommended that policymakers make UA a crucial aspect of their agenda in the coming years to address the local economic and climate challenges now and in the future. [ABSTRACT FROM AUTHOR]

The impact of culture on non-kin cooperation has been singled out as critical for economic activity. However, causal evidence of culture's influence on cooperation remains scant. In this paper we provide such evidence, focusing on two key components of culture: preferences and beliefs. Adopting the view that culture is one aspect of an individual's multi-faceted self-concept (identity) we conduct a Prisoner's Dilemma experiment with first- and second-generation Chinese immigrants at a large US public university. In a two-by-two design, we exogenously vary: i) the salience of participants' American or Chinese cultural identities; and ii) the capacity for culture to affect beliefs by randomly providing previous-session cooperation-rate information. Comparing behavior across cultures and information conditions, our results suggest a prominent role for both preferences and beliefs. [ABSTRACT FROM AUTHOR]

This paper introduces an innovative method for segmented multifractal analysis, aimed at investigating the (in-) efficiency of major global economic sectors. The proposed approach, a modified version of the Multifractal Detrended Fluctuation Analysis (MF-DFA) technique, integrates change-point detection, followed by a segmentation of time series data, just before conducting multifractal measurements at various intervals. This novel method is applied to five indices representing the global financial and economic landscape, including the Standard and Poor 500 index, the Euro/USD exchange rate, Bitcoin’s price, crude oil prices, and the price of gold. The empirical findings reveal substantial structured multifractality, with particular prominence observed in the two commodity price indicators. These results prompt inquiries into the influence of significant events on the efficiency of economic and financial markets. The segmented multifractal analysis opens up new avenues for exploring the dynamics and resilience of these sectors, thereby enhancing our comprehension of their intricate behaviors and responses to diverse stimuli. [ABSTRACT FROM AUTHOR]

The transition required to remove coal from the global energy mix will have major implications across coal producing regions. There is limited work, however, that explores how this transition is being received by communities with multi-generational connections to the industry. This paper explores understandings and responses to transition in the Australian community of Singleton. Located 145 km north of Sydney in the Upper Hunter Valley, the local area has been a site of coal mining activity since the 1850s – helping foster a strong connection between industry and place. Using an emotional geographies framework, we uncover various local feelings associated with the prospect of a future without coal. While these emotional responses can stem from the anticipated material losses of mines and jobs, they have also been found to stem from the mutually imbricated threats posed by a 'hidden dimension of loss'. This dimension of loss positions mining as much more than an emotionless economic activity. Instead, it is uncovered as an activity – a tradition – that can define understandings of place. Whilst set in Australia, this study holds relevance for mining communities internationally faced with the disruption of existing ways of life, identities, and understandings of place as the energy transition unfolds. [ABSTRACT FROM AUTHOR]

Higher levels of economic activity are often accompanied by higher energy use and consumption of natural resources. As fossil fuels still account for 80% of the global energy mix, energy consumption remains closely linked to greenhouse gas (GHG) emissions and thus to climate change. Under the assumption of sufficiently elastic demand, this reality of global economic development based on permanent growth of economic activity, brings into play the Jevons Paradox, which hypothesises that increases in the efficiency of resource use leads to increases in resource consumption. Previous research on the rebound effects has limitations, including a lack of studies on the connection between reinforcement learning and environmental consequences. This paper develops a mathematical model and computer simulator to study the effects of micro-level exploration–exploitation strategies on efficiency, consumption and sustainability, considering different levels of direct and indirect rebound effects. Our model shows how optimal exploration–exploitation strategies for increasing efficiency can lead to unsustainable development patterns if they are not accompanied by demand reduction measures, which are essential for mitigating climate change. Moreover, our paper speaks to the broader issue of efficiency traps by highlighting how indirect rebound effects not only affect primary energy (PE) consumption and GHG emissions, but also resource consumption in other domains. By linking these issues together, our study sheds light on the complexities and interdependencies involved in achieving sustainable development goals. This article is part of the theme issue 'Climate change adaptation needs a science of culture'. [ABSTRACT FROM AUTHOR]

In the context of globalization, rural tourism offers diversity in close connection with regional specificity. In this sense, there is an increase in the tourist offer oriented towards the traditional, towards the authentic. The entrepreneurial attempts to reflect the local authentic in the field of tourism are not well defined, often the specific traditional elements are not respected, creating an inappropriate mixture of architectural, gastronomic and cultural styles. Thus, the need to define the concept of authenticity in rural tourism based on vernacular culture is noted and this is the main aim of this paper. Also, theoretical items such as rural space, rural tourism, vernacular, and authenticity are defined and systematized, and essential parameters like elements, principles and methods for substantiating authentic rural tourism are synthesized. These ideas are critically analyzed, and discussed, based on representative documentation from Romanian and foreign literature to which the authors added their modest contribution. Authentic rural tourism offers interesting experiences precisely through originality, local specificity, diversity, in a cultural and geographical framework that completes the knowledge and offers the tourist a truly authentic experience. In this way, an increase in tourist interest is achieved and the foundations are laid for sustainable, representative economic activities at the rural level. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to test the impact of remittances receipt on agricultural productivity. The paper empirically assesses whether heterogeneity in economic activity of farming households affects the effects of remittances on productivity of tradable and nontradable crop farming households in Ghana. Design/methodology/approach: The authors employ propensity score matching (PSM) methods to address potential endogeneity issues that could arise from the estimation due to selection bias. This paper uses the seventh round of Ghana living standard survey dataset for Ghana. Findings: The authors find that, the involvement of farming households in other economic activities alters the impact of remittances on crop yield. This differential impact also varies according whether the crop is tradeable or not. Practical implications: Policy can reduce the cost of sending remittances and include financial literacy modules in the farmer training modules to increase farmers' knowledge on investment of remittance in agricultural production. Originality/value: The authors distinguish the paper from others by controlling for crop types (particularly tradeable or otherwise and gestation period), farming of a second or more crops and engagement of smallholder farmers in nonfarm economic activities. [ABSTRACT FROM AUTHOR]

The development of rural space is a basic concern of today's society dominated by the trend of modernization and the need to preserve identity. The current context highlights numerous elements favorable to the development of the rural space, but also elements that inhibit this process. Favorability for the development of the rural area is given by the availability of endogenous resources, and the elements that slow down the development process are generally related to the inability of the local responsibility factors to implement policies, programs and strategies adapted to the territorial specificity that lead to the development of agriculture as a basic activity but and to a diversification of economic activities and implicitly to the development of the rural economy. The paper briefly presents a model of strategic evaluation of the rural space that highlights the territorial specificity and allows the elaboration of sustainable development options adapted to it. From the secondary analysis of the statistical data and the relevant specialized literature and through the application of the PESTEL and SWOT strategic analysis models, sufficient specificity elements were identified that led to the development of relevant strategic options for sustainable rural development in Vâlcea county. [ABSTRACT FROM AUTHOR]

Informal waste reclaimers are a key part of South Africa's recycling economy, being responsible for around 51% of all paper and packaging waste collected in South Africa in 2017. Active in the waste and recycling landscape for more than three decades, their activity predates the earliest voluntary paper and packaging Extended Producer Responsibility schemes. However, these voluntary schemes have been instrumental in scaling South Africa's recycling economy. Investment by brand owners, retailers, converters and recyclers has helped develop local end-use markets, creating a demand for paper and packaging recyclables and a resultant increase in their collection. An analysis of tonnage and price data shows that the mean estimate of money paid by the private sector to the informal waste sector through the purchase of recyclables at intermediaries such as buy-back centres, was ZAR625 million in 2012, increasing to ZAR872 million in 2017. This private sector 'investment' in the local recycling economy has led to direct and indirect job creation and improved livelihoods, particularly for a large, well-established and effective informal waste sector, and has indirectly funded municipal waste diversion strategies, saving municipalities in both the collection and disposal of waste. Significance: * Informal waste reclaimers make a significant contribution to the diversion of paper and packaging recyclables from landfill to recycling in South Africa. * Limited information exists on the earnings of informal reclaimers. * This paper provides new insights on the annual financial payments made by the private sector to informal reclaimers tor the collection of recyclables. [ABSTRACT FROM AUTHOR]

The literature on urban vitality tends to focus on the built environment. This paper argues that some important processes in shaping vitality may be overlooked without examining the intensity and diversity of economic and human activities. Using newly developed spatial big data and adopting the methods of multi-indicator measurement and spatial analysis methods, we analyzed the pattern of urban vitality in Chongqing, a provincial city in western China and, on this basis, evaluated the creation and maintenance of urban vitality from the economic and human activities perspective. Our findings indicate that the impacts of economic and human activities are positive and significant. Among the three intensity and diversity indicators, economic intensity and population density show an effect on urban vitality stronger than that of economic diversity. However, economic diversity has the strongest superposition or interactive effect, and is thus an important foundation dynamic. The positive effect of population density on urban vitality is largely a result of Chongqing's jobs-housing balance. The case of Chongqing highlights the importance of topographic features, historical inheritance, large-scale migration, and cultural activities in shaping the distinctive vitality pattern of a city. This study contends that the creation and maintenance of urban vitality can not be fully explained without incorporating the impacts of economic and human activities. It contributes to a comprehensive measurement of urban vitality and enriches its connotations. [ABSTRACT FROM AUTHOR]

This paper evaluates the finite sample performance of two methods for selecting the power transformation when applying seasonal adjustment with the X-13ARIMA-SEATS package: the automatic method, based on the Akaike Information Criterion (AIC) and Guerrero's method, that is based on the minimization of a coefficient of variation in order to choose a power transformation. For this purpose, we generate time series with different Data Generating Processes considering traditional Monte Carlo experiments as well as additive and multiplicative time series with linear and time-varying deterministic trends. We also illustrate the performance of both approaches with an empirical application, by seasonally adjusting the Mexican Global Economic Activity Indicator and its components. The results of different statistical tests indicate that Guerrero's method is more adequate than the automatic one. We conclude that using Guerrero's method generates better results when seasonally adjusting time series with the X-13ARIMA-SEATS program. [ABSTRACT FROM AUTHOR]

A global disaster, such as the recent Covid-19 pandemic, affects every aspect of our lives and there is a need to investigate these highly complex phenomena if one aims to diminish their impact in the health of the population, as well as their socio-economic stability. In this paper we present an attempt to understand the role of the governmental authorities and the response of the rest of the population facing such emergencies. We present a mathematical model that takes into account the epidemiological features of the pandemic and also the actions of people responding to it, focusing only on three aspects of the system, namely, the fear of catching this serious disease, the impact on the economic activities and the compliance of the people to the mitigating measures adopted by the authorities. We apply the model to the specific case of Spain, since there are accurate data available about these three features. We focused on tourism as an example of the economic activity, since this sector of economy is one of the most likely to be affected by the restrictions imposed by the authorities, and because it represents an important part of Spanish economy. The results of numerical calculations agree with the empirical data in such a way that we can acquire a better insight of the different processes at play in such a complex situation, and also in other different circumstances. [ABSTRACT FROM AUTHOR]

The current paper presents a method through which the economic efficiency of each activity within the recruitment and hiring process can be evaluated within the conducted procedure. In the event of unsat)isfactory results, the necessity for improving each specific activity within the recruitment and personnel assessment procedure in the organization can be determined. The core idea of the method is based on the possibility of utilizing a reengineering approach to determine the returns that the company receives from the investments made during the recruitment and selection process. The need for developing and the essence of the functioning of this approach are revealed. The article describes the algorithm, formulas, and methodology through which specific coefficients of economic efficiency of existing activities within the recruitment process can be calculated. The presented method provides another tool for the financial manager to assess and optimize the recruitment process in organizations with the aim of cost optimization and maintaining competitiveness. [ABSTRACT FROM AUTHOR]

Consumer psychology refers to how people think and act within an economic role in market exchange. However, we know little about how consumers actually perceive these roles, or how they understand markets and economic activity more broadly. That is, we lack an understanding of the economic reasoning of non‐expert consumers, how it departs from formal economic reasoning, and why. The current paper is intended to address this gap. We provide an integrative review of research on lay economic reasoning that consistently reveals how differently lay consumers and economists think about markets. We propose a unifying mental model to explain these divergences. Suggest why it is reinforced by what lay consumers observe (and do not observe) through firsthand marketplace experience, and note its potential evolutionary basis. We then highlight how understanding lay economic reasoning can not only help explain a wide array of marketplace phenomena, but also provide a novel lens to help advance, generate, and better integrate theory across many active literatures within consumer psychology. Without markets, there are no consumers and there is no marketing. We therefore call for consumer psychologists to take ownership of the study of lay economic reasoning and make markets more central to marketing scholarship. [ABSTRACT FROM AUTHOR]

This research is based on the current issue of the lack of inclusivity in the economy as a hindrance to sustainable development. Governments, organizations, and individuals are considering the issues of inclusive economy on a practical level in the form of programs, strategies, or regulatory documents. The study and consideration of socioeconomic processes were conducted through the analysis of scientific activity and its results, providing insights into current interests, problems, and needs of society in conditions of sustainable development. The methodological basis of the research includes general philosophical and general scientific methods. The purpose of this study is cognitive modeling of the concept of inclusive economy as a component of sustainable development. The authors argue and justify that inclusive economy is a crucial component of sustainable development. To achieve the goal of the study, the authors identified four key blocks on which the concept of inclusive economy is built in the context of sustainable development: terminological (defining key terms), fundamental (establishing underlying principles), substantive (identifying specific elements), and applied (practical applications). The concept of an inclusive economy is based on the principle of providing all members of society with free and equal access to resources and results of economic activity, which is essential for achieving sustainable development goals. The paper presents data from the index of inclusive development, which assesses the performance of developing countries in achieving inclusive growth and development. The index takes into account environmental and social issues, which underscores the need for developing an inclusive economy as a crucial component of sustainable development. The proposed concept of an inclusive economy as a component of sustainable development will ensure the appropriate level of inclusive economic growth and development by promoting equity, social inclusion, and environmental sustainability. [ABSTRACT FROM AUTHOR]

This paper describes an emerging literature in economics that aims to merge macro issues of structural change and growth with micro data and analysis. This literature focuses on a set of related patterns of change that accompany the processes of growth and development. Traditionally, the focus has been on industrialization – and more broadly the reallocation of employment and economic activity from agriculture to manufacturing and services. The new literature considers a broader set of transformations: from rural to urban, from home to market (and from market to home), from informal to formal, and from self-employment to wage work. Drawing on new data sources, including micro data and administrative records, the literature tries to understand the complex interactions of a broad set of market failures, policy distortions, and impediments to the growth process. In broadening the understanding of structural transformation – to encompass processes beyond industrialization – this literature opens the door to a richer understanding of the processes of growth and a wider set of potential levers for policy. [ABSTRACT FROM AUTHOR]

Energy is a crucial component of industrial development and the provision of essential services, as well as an essential element of economic development. Therefore, improving the integration of environmental and energy-efficiency concerns into environmental, economic, and social policies is an essential task for all nations. During the last decades, the trends in energy consumption are determined by economic activities, demographics, lifestyle changes, and weather. In these contexts, the objective of the current research will be to analyse and evaluate the correlations between energy efficiency, energy productivity, energy use and economic development using the linear regression method. Based on the results and the validated/invalidated hypothesis, the paper will propose, also, ways and means for a positive correlation and influence among the studies variables. [ABSTRACT FROM AUTHOR]

• Economic freedom indices (EFI) reflect a neoclassical paradigm that neglects institutional diversity. • Thick description and careful institutional analyses unveil capitalist varieties. • Singapore is a unique capitalist variety lauded by scholars of both the market liberal and the developmental and entrepreneurial state traditions. • Singapore's political economy, renowned for its economic freedom, rests on strategic control of factor markets. • Control over strategic nodes enable even 'small governments' intrusive and hegemonic influence in political economy. This paper provides a critique of economic freedom indices through a case study of Singapore's unique political economy. We argue that these metrics reflect an ahistorical approach to development, obscuring real-world institutional diversity. By instantiating a single ideal of laissez-faire and proceeding to measure the magnitude of economic freedom in nations, these indices implicitly treat capitalist varieties as mere defects of laissez-faire rather than as distinct alternatives. Consequently, owing to the discursive power neoliberal metrics enjoy in country-benchmarking, the varied roles that states play are overlooked in development discourse. Singapore's unique political economy and approach to development is one such institutional innovation being neglected. Through its strategic and calibrated control over factor markets, the Singapore state is ranked as a small government by economic freedom indices while simultaneously enjoying significant influence over economic activity. The wider implication is that nations' unique historical constraints push them onto diverse development trajectories. [ABSTRACT FROM AUTHOR]

Modern cluster theory provides reasons for positive external effects that accrue from the interaction of spatially proximate firms operating in common and related fields of economic activity. In this paper, we examine the impact of R&D‐intensive clusters as a key factor of regional competitiveness on productivity growth. In relying on a hybrid approach of cluster identification, we examine effects of cluster specialization and diversity for a panel of German NUTS‐3 regions in 2003–2019. After controlling for regional characteristics and unobserved heterogeneity, a robust cluster strength effect (i.e., specialization) on productivity growth is found within the context of conditional convergence across German regions. With regard to the underlying mechanisms, we find that the presence of multiple R&D‐intensive clusters in specific technological fields is most strongly linked to higher levels of regional productivity growth. We also find that advantages from cluster specialization are strongest in key industrial sector such as automobile production, machinery, chemical and pharmaceutical products. Overall, our estimates particularly highlight the working of Marshallian externalities in productivity dynamics, while Jacobs‐type spillovers tend to be partially realized. These findings indicate that some but not all cluster‐based regional development strategies are promising policy tools to foster regional growth processes. [ABSTRACT FROM AUTHOR]

Limited research has been conducted on companies' use of share-based payments in a South African context. Where research has been performed, the focus has been predominantly on shared-based payments as part of executive remuneration packages. This paper extends this research by investigating all uses of share-based payments by the Johannesburg Stock Exchange's (JSE) Top 100 companies. A content analysis was used to capture the details of each scheme disclosed by the JSE Top 100 companies. This included at whom the scheme was aimed, the purpose of the scheme, the settlement type, the vesting period and conditions, and whether there had been any modifications or cancellations. Descriptive and inferential statistics were used to analyse the data. Results reflected that 93 of the 100 companies investigated made use of share-based payments. Seventy-four per cent of all instruments were equity-settled. The few cash-settled schemes found were primarily used by the Basic Materials and Financials sectors. The average vesting period for all instruments was approximately 4 years, with Black Economic Empowerment-aimed schemes having the longest vesting period at 10 years. Non-market performance conditions were most prevalent at 87% while only 27% included market conditions. Overall, the findings are in line with Agency Theory and prior papers. In addition, this paper found a significant number of modifications and cancellations of instruments. This may be because of poor economic conditions, where reduced economic activity and lower share prices result in share-based payments becoming unfavourable to holders. [ABSTRACT FROM AUTHOR]

Despite its immense natural resources, Angola struggles to significantly improve its economy to reduce poverty. Carbon emissions have been increasing over the years, even though the country plans to reduce them by 35% by 2030. This paper attempts to assess the carbon emissions of several sectors (industries, transport, services, and residences) on economic growth, intending to find a balance between environmental protection that requires carbon emissions reduction and economic development that may add to environmental degradation. The study employed time series data on GDP, CO2, CH4, and N2O covering 1971 to 2021 and ARDL and ECM models. This is the first study at the state level in Angola on the relationship between economic development and environmental sustainability considering methane and nitrous oxide emissions. Additionally, the paper assesses the responses of GDP to deviation shock of GDP, CO2, CH4, and N2O by 2032. Phillip Perron and Augmented Dickey-Fuller tests showed that all the data are stationary at the first difference, favoring the application of the ARDL model to explore the short and long-run relationships. The result reveals that methane from agricultural activities and carbon emissions from the building sector and public services contribute to economic growth, whereas carbon emissions from industrial heat systems, non-renewable electricity production, and manufacturing industries harm economic growth. However, no relationship exists between nitrous oxide emissions and economic development. In addition, impulse response function estimates show that appropriate investments can sustain economic development over the years. Therefore, the country should diversify its economy and avoid polluting fuel sources, such as coal. Raising renewable energy's proportion in the total energy mix can support growth while considering the environmental quality. Investments in skills training, academic projects in renewable energy technologies development, agriculture mechanization, and sustainable job creation are recommended. Additionally, investing in quality seeds adapted to climate realities might help lessen climate change's adverse effects and promote growth. Manure manufacturing processes must be improved to reduce agriculture and livestock's methane and nitrous oxide emissions. The country's leaders are encouraged to promote raw material processing industries while insisting on reducing carbon emissions. [ABSTRACT FROM AUTHOR]

Our paper critically analyses the well-known and old partnership between religious actors and social policy agencies undertaking interventions in the public sphere aimed at influencing redistributive measures (social welfare, distributive justice) and development. Starting from a typology of religious welfare and classic welfare regime the paper underlines the necessity of rising up further the "social mission of religion" in a globalized world increasingly exposed to social, economic and political turbulence, as a link between state and community. [ABSTRACT FROM AUTHOR]

The Islamic financial industry has witnessed remarkable developments at the global level, which indicates its important and effective role in economic activity. But does the Islamic financial industry need to develop concepts and tools like traditional finance or not? This paper attempts to shed light on the reality of the Islamic financial industry, while addressing the most prominent basic Islamic financing tools such as Mudaraba, Murabaha and other. The paper concludes that the financial innovation of Islamic financial products is necessary, not merely to emulate traditional financial products. [ABSTRACT FROM AUTHOR]

The paper's primary goal is to analyze the effects of politics and administrative capacity on countries' innovative performance. The inquiry comparatively examines possible correlations between democracy, political competition, income inequality, bureaucratic capacity, and corruption/transparency with countries' innovation results. The dependent variables are three performance indicators of the Global Innovation Indexes (GII). After presenting the theory and the descriptive data analysis on the research variables, the paper runs multivariate regression models to test the hypotheses. The empirical analysis reinforced that political and administrative dimensions are relevant to understanding the national innovation systems' achievements. However, democracy, bureaucracy quality and corruption/transparency are not influential factors in countries' innovative results as the normative assumptions would suppose. On the contrary, political competition and inequality considerably impact how economies innovate. In conclusion, the paper brought original and intriguing findings that put in perspective the claim that there is a unique path or rule of thumb for innovation growth. Consequently, the inferences provide insights to scholars and stakeholders, public and private, to improve the debates and decisions regarding the priorities for government actions in times of evidence-based policymaking. [ABSTRACT FROM AUTHOR]

In this paper, we review the theories of business cycles in the 20th century after the work of John Maynard Keynes. Fluctuations in economic activity have been observed with considerable regularity since the beginning of the last century, motivating empirical efforts to, identify, measure, and understand business cycles, contributing to the identification of stylized facts on business cycles, facts the business cycle theories should try to explain. Theories however have been very distinct through the years. Despite the different explanations for the sources of cycles, in mainstream economics, there was the underlying hypothesis of stability and equilibrium as a main characteristic of the economic system. The heterodox view on business cycles, in contrast, starts with Keynes pre-dynamic theory, considering the intrinsic instability of the system and extends through several other authors and theories. In this paper, we use the concepts of equilibrium and instability as a demarcating guide to separate theories in two groups: the mainstream view and the heterodox view. We notice however that, even though different authors and theories might share similar views on the self-equilibrating property of the economic system, there is no coherent integration between similar theories. We conclude the paper with some methodological insights that might lead to a coherent and integrated approach to explain business cycles in the heterodox view, requiring new and complex methods and tools. • Equilibrium and instability as demarcating guide to Business Cycles theories. • Empirical stylized facts on Cycles are to be explained by theories. • In mainstream, cycles are external shocks damped by internal response mechanisms. • The heterodox view instead assumes endogenous instability. • Despite common assumptions, cycle theories have been very distinct. • We propose an integrated heterodox approach under some guiding principles. [ABSTRACT FROM AUTHOR]

Mining and quarrying were important economic activities in Europe in past centuries, but during the 20th century, raw materials became vital to societal development. Mining has been subject to fluctuations related to wars, economic crises, and advances in environmental rights. A series of events led some European countries, such as Spain, to assume a leading position in the market for certain raw materials, such as tungsten. However, most of Europe's mines have been abandoned. This paper considers several postindustrial heritage sites that can used to illustrate how metal and stone were extracted in past centuries. Such sites have become a tourist attraction in the context of heritage in some countries. This area in western Spain, which contains ancestral quarries that helped build the architectural heritage of UNESCO World Heritage Cities and artisanal mines that contributed to building the economy of an extremely poor population, has a story to tell. All these mines and quarries can be used to explain the cultural heritage of the area as part of a postindustrial heritage landscape. [ABSTRACT FROM AUTHOR]

In this paper I argue that the political and economic domains are analogous for distributive purposes. The upshot of this conclusion is that because we normally think that an unequal distribution of votes is objectionable even if these inequalities are strictly necessary to improve the lives of less informed voters, so we should conclude that an unequal distribution of resources might be similarly objectionable even if strictly necessary to make the worse off better off. Leveling down economic resources is therefore sometimes morally permissible. I consider and reject three types of objections to this view. [ABSTRACT FROM AUTHOR]