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The article is devoted to the role and importance of small business in the modern world and its contribution to the development of green economy. It is noted that serious attention in economically developed countries is paid to the development of small enterprises as one of the most important sectors of the economy, which plays an important role in the socio-economic development of the country. The economic advantages of small business are considered, which include: lower cost in creating jobs; high internal mobility in changing demand using local resources inefficient for large-scale production; high profitability of activities in “narrow” segments of the market, small capital in organizing business, etc. It is determined that for all countries the financial infrastructure of small business is the most important component of the economic system. The processes of revival and development of entrepreneurship in Russia with the beginning of market reforms of the late XX century have been studied. It is established that the sustainable development of business structures, including those belonging to small business, is impossible without taking into account the trends of “green” economy, since the satisfaction of consumers today should not infringe on the interests and needs of future generations. [ABSTRACT FROM AUTHOR]

This research paper explores the transformative impact of Artificial Intelligence (AI) and Machine Learning (ML) on financial markets and services. The rapid evolution of AI and ML technologies has reshaped how financial institutions operate, enabling enhanced decision-making processes, risk management, and customer engagement. The paper examines the application of AI and ML in various sectors of finance, including algorithmic trading, fraud detection, credit scoring, and personalized financial services. By analyzing recent advancements, the research highlights how AI-driven predictive analytics and automation streamline operations, reduce costs, and improve accuracy in financial forecasting. Furthermore, the paper discusses the implications of AI and ML on regulatory compliance and risk assessment, emphasizing the need for a robust framework to address ethical considerations and data privacy concerns. It also addresses the challenges faced by financial institutions in adopting these technologies, such as integration with legacy systems, the requirement for skilled personnel, and the evolving regulatory landscape. Ultimately, this paper provides a comprehensive overview of the dual role of AI and ML in enhancing operational efficiency while also posing challenges that require strategic management. The findings suggest that as financial markets continue to evolve, the integration of AI and ML will not only redefine service delivery but also establish new paradigms in financial practices, paving the way for future innovations. By fostering a deeper understanding of these technologies, stakeholders can better navigate the complexities of modern finance, driving growth and sustainability in an increasingly digital economy. [ABSTRACT FROM AUTHOR]

Neil Fligstein's Conceptions of control have multiple theoretical origins in the institutional, political, and cultural perspectives of the new economic sociology. However, conceptions of control as a key concept of market structure have not systematically been formulated in Fligstein's works, remaining insightfully but relatively fragmentally. This paper summarizes the normative, power, and cognitive dimensions of conceptions of control, respectively corresponding to market agreement, dominant relationship and common understanding. On this basis, this paper provides a clear definition of conceptions of control. Additionally, this paper summarizes the formation of the conceptions of control and its change, distinguishes the differences between conceptions of control and other related concepts, and presents the evolution of the concept that has taken place in subsequent studies, as well as the criticisms to which it has been subjected. This paper suggests that this concept needs to be expanded in terms of the connotation of market actors, the role of government, and the forms of existence. Conceptions of control provide a concise conceptual tool for analyzing market transformation. We believe that the market changes triggered by the new business formats in the digital economy era will be more frequent, and conception of control will have a broader application prospect. [ABSTRACT FROM AUTHOR]

Improving the efficiency of room air conditioners (RACs) could provide significant energy and associated emissions savings, particularly in emerging economies with hot climates where the cooling demand is expected to increase dramatically. To help accelerate efficiency improvements, this study identifies “best-in-class” high-efficiency RAC components and products. The findings show that manufacturers tend to minimize manufacturing costs by using RAC designs that are readily available or standardized to their production, and they share components across various models. High-efficiency RAC models use advanced compressor technologies optimized at a low frequency, large heat exchangers with thermodynamically effective materials and designs, highly efficient direct current fan motors, advanced metering devices, and smart sensors for temperature and humidity control. Recently RAC manufacturers have been improving seasonal efficiency – better reflecting part-load operation – especially via variable-speed (inverter) drives for compressor motors. Recent highest-efficiency RAC models use low global warming potential (GWP) refrigerants, having transitioned from conventional high-GWP refrigerants, in regions where RACs that use these low-GWP refrigerants are commercially available. Recently demonstrated innovative technologies show trends toward smart hybrid designs, evaporative cooling, and solid-state materials beyond the conventional vapor-compression technology. This information could help policymakers improve their RAC market-transformation programs to align with the most-efficient global technology.

The International Energy Agency expects the global stock of room air conditioners (RACs) to triple between today and 2050, with critical implications for energy use and greenhouse gas emissions. Because China produces approximately 70% of the world's RACs, it is in a unique position to lead a global transition to higher-efficiency RACs with substantially lower environmental impact. To date, however, Chinese policies have targeted relatively modest RAC efficiency increases. We recommend that China target production of RACs that use low global warming potential (GWP) refrigerants and are at least as efficient as the most efficient RACs produced today in China or on the global market. Specifically, we recommend that China set minimum energy performance standards for RACs at China annual performance factor (APF) 5.4 in 2025 and China APF 6.9 in 2030. This leadership would provide a longer-term policy signal to RAC manufacturers in China, enabling them to meet the efficiency targets cost-effectively by providing adequate time for investment planning. We project that full implementation of our recommended policy could result in global electricity consumption savings of 74 petawatt-hours, CO2 reductions of 49 billion metric tons, and bill savings of 6 trillion U.S. dollars (cumulative benefits 2020–2050). The policy is viable in China because of its provision of long-term certainty for manufacturers and their demonstrated ability to produce low-GWP RACs with the required efficiencies. Exploiting the parallel transition away from high-GWP refrigerants under the Kigali Amendment to the Montreal Protocol would provide manufacturing efficiencies and substantial savings opportunities.

With increasing global uptake of variable-speed (inverter-driven) air conditioners (ACs), the globally uniform energy-efficiency ratio (EER) metric has given way to various region-specific part-load and seasonal performance AC metrics in many markets. As a result, policymakers around the world lack comparative data that might help them create more effective AC efficiency market-transformation programs. To help fill this gap, this paper explores relationships between the room AC efficiency performance metrics of different regions—including China, the European Union, India, Japan, South Korea, and the United States—using performance data for split room AC models. We use these interregional conversion relationships to estimate the performance of >6000 AC models, including reversible heat pumps, in efficiency metrics used in the six economies as well as the International Organization for Standardization (ISO) 16,358 metric. Our results suggest a way to identify the potential for improving AC efficiency policies in regional markets. The most efficient models sold in each region and worldwide typically are more efficient than the most efficient level recognized by regional energy standards and labeling programs. This information could help policymakers evaluate and improve their AC efficiency market-transformation programs to align with the globally best-available technology.

With increasing global uptake of variable-speed (inverter-driven) air conditioners (ACs), the globally uniform energy-efficiency ratio (EER) metric has given way to various region-specific part-load and seasonal performance AC metrics in many markets. As a result, policymakers around the world lack comparative data that might help them create more effective AC efficiency market-transformation programs. To help fill this gap, this paper explores relationships between the room AC efficiency performance metrics of different regions—including China, the European Union, India, Japan, South Korea, and the United States—using performance data for split room AC models. We use these interregional conversion relationships to estimate the performance of >6000 AC models, including reversible heat pumps, in efficiency metrics used in the six economies as well as the International Organization for Standardization (ISO) 16,358 metric. Our results suggest a way to identify the potential for improving AC efficiency policies in regional markets. The most efficient models sold in each region and worldwide typically are more efficient than the most efficient level recognized by regional energy standards and labeling programs. This information could help policymakers evaluate and improve their AC efficiency market-transformation programs to align with the globally best-available technology.

In recent years, solar energy has been increasing in usage throughout the world, especially in the United States. Market transformation (a concept based on collaborative efforts between industry advocates and policy-makers to increase adoption through economies of scale) plays a fundamental role in expanding the adoption of solar energy. However, there are currently limited resources to identify the optimal locations for increasing the likelihood of industry advocates interested in exploiting opportunities related to solar energy technologies. This study aims to showcase a visual mapping tool to assist with solar energy market transformation. By combining data from different sources, a unique process and output were created. The factors considered in this study include cost of electricity, net metering policies study, cost of solar energy systems, solar irradiance, annual sunshine rates, annual snowfall rates, and annual precipitation rates. All the factors were considered on both a residential and commercial level. The findings rank states from most viable to least viable with respect to the combined input factors. The results show that states with a high likelihood of market transformation at the residential level also have a high likelihood of market transformation at the commercial level.

The state of the planet calls for large-scale sustainability transitions involving systemic adoption of markedly better environmental and social practices. The objective of this symposium is to better understand the role of corporations in promoting such systemic change. We present four case studies—representing diverse industries and change mechanisms—-to investigate corporate leadership in sustainability transitions. The cases examine a wide range of mechanisms used by corporations to progress toward sustainability, such as political coalition building and information strategies through eco-labels, socially responsible investing, and the public statements of CEOs. In this introduction, we discuss the challenges associated with both achieving and studying systemic change, explain the rationale for a case study approach, describe the findings from the case studies, and draw some general conclusions on the mechanisms by which firms may be able to lead, or at least participate in, systemic change in the different phases of sustainability transitions.

The circular economy is a resource-efficient production model that is believed by many policymakers, business leaders, and academics to promote sustainability. Academic literature suggests that circularity is achievable across business scales and types, from multinational corporations to start-ups. One condition for circular transition is the presence of a thriving market and a policy context that supports development and uptake of circular innovations. This study is among the first to analyze the business models of circular-focused start-ups from a systems-based perspective on technological innovation. Examining the Dutch food and construction sectors, the study compares business activities that foster innovation ecosystems. Based on 53 interviews with start-up founders and actors, we examine how firms respond to financial, cultural, and market drivers based on their respective industries' market structures, cultural norms, and growth histories. The results also indicate variability in the practical impacts of circular strategies. While there is some evidence of strategic impact among food start-ups, impacts among construction start-ups are potentially undermined by power imbalances between start-ups and incumbents and by the sector's relatively conservative culture. This comparison is used to develop recommendations for start-ups and policymakers to accelerate circular transition through the development of innovation ecosystems. [ABSTRACT FROM AUTHOR]

Abstract—Analytical results of changing the concentration of the Russian market of secondary ferrous metals are presented. Fundamental possibility of dynamic transformation of the domestic market structure toward an increase in its concentration is revealed. The necessity of monitoring and control of the activities of the participants in this market using a federal digital platform of accounting of scrap turnover is substantiated. This finding would allow one to provide certain transparency and objectivity of information about the material and financial performances characterizing the production and commercial operations of the participants in the turnover of metallurgical resources in Russia, which is important for control and steady development, as well as harmonious operation of the metallurgical segment of national economy. [ABSTRACT FROM AUTHOR]

This article reports on how those working in post-secondary education and training in Singapore perceive the professional effects of a transition to online learning, teaching and assessment (LTA) as a consequence of the COVID-19 global pandemic. It draws on a survey sample of n = 1553 educators and trainers working in Singapore and their perspectives on how a migration to online LTA is producing long-term, if not permanent, changes to the organisation and delivery of post-secondary education and training. It reveals a largely positive view of digital resettlement of education and training in Singapore as a consequence of COVID-19. Yet despite the articulation by respondents of 'paradigm change' and 'education without limits', we find that an embrace of digitalisation is mobilised (and manipulated) not so much by pedagogical concerns but by economic ambitions and a utilitarian logic common to the neoliberal incantations of a global education policy community. [ABSTRACT FROM AUTHOR]

Improving the efficiency of room air conditioners (RACs) could provide significant energy and associated emissions savings, particularly in emerging economies with hot climates where the cooling demand is expected to increase dramatically. To help accelerate efficiency improvements, this study identifies “best-in-class” high-efficiency RAC components and products. The findings show that manufacturers tend to minimize manufacturing costs by using RAC designs that are readily available or standardized to their production, and they share components across various models. High-efficiency RAC models use advanced compressor technologies optimized at a low frequency, large heat exchangers with thermodynamically effective materials and designs, highly efficient direct current fan motors, advanced metering devices, and smart sensors for temperature and humidity control. Recently RAC manufacturers have been improving seasonal efficiency – better reflecting part-load operation – especially via variable-speed (inverter) drives for compressor motors. Recent highest-efficiency RAC models use low global warming potential (GWP) refrigerants, having transitioned from conventional high-GWP refrigerants, in regions where RACs that use these low-GWP refrigerants are commercially available. Recently demonstrated innovative technologies show trends toward smart hybrid designs, evaporative cooling, and solid-state materials beyond the conventional vapor-compression technology. This information could help policymakers improve their RAC market-transformation programs to align with the most-efficient global technology.

If North Korea's economic transformation has been largely informal and contested at the level of the state, to what extent is North Korea's economic transformation reflected in North Korean economic research? In this article, we analyze a dataset of North Korean domestic journal articles on economics from 2000 to 2019. We trace trends over time in the topics covered by economics research in North Korea, and compare them with formal changes in North Korean economic policy under Kim Jong-il and, particularly, Kim Jong-un. Research in potentially economic transformation-related topics tends to increase in response to formal economic policy changes. Kim Jong-un's rule has seen the development of an integrated economic research networks, and a shift to articles that have focused on the practicalities of implementing policies. We close with implications for unification and engagement.

Globally, terrestrial television (TV) broadcasting is in the midst of a complete transition to digital signals. The last analog terrestrial broadcast is expected to be switched off in the early 2020s. This transition presents huge energy savings opportunities that have thus far been ignored. Digital TV switchovers have likely increased energy consumption as countries have completed transitions by providing digital TV converters to analog TV users, which increase energy consumption and extend the life of energy-inefficient analog TVs. We find that if analog TVs were retired at the time of a digital switchover and replaced with super-efficient flat-panel TVs, such as light-emitting diode (LED) backlit liquid crystal display (LCD) TVs, there is a combined electricity savings potential of 32 terawatt hours [TWh] per year in countries that have not yet completed their digital TV transition. In view of these findings as well as the dramatic drops of super-efficient TV prices and the unique early-retirement opportunity resulting from cessation of terrestrial analog broadcasts, TV-exchange programs would easily and substantially advance energy efficiency.

The Canadian government created the EcoENEGY Retrofit for Homes programme (2007–12) to improve residential energy efficiency and reduce emissions produced through energy use. The uptake of retrofits varied both spatially and temporally. This research examines spatio-temporal patterns of retrofit adoption to understand the drivers behind participation in the grant programme and assess how future grant-based programmes might improve the uptake of efficiency measures. Temporal analysis demonstrated continued growth of programme participation over its original period of availability, and this accelerated once the programme was extended for an additional year after its original closure date. However, some spatial correlations weakened, which may be attributable to changes in programme design during the extension period. Seasonal variation was also observed, with spikes in retrofit activity occurring in winter. A regression analysis for conversion rates in Ontario and British Columbia displayed significant positive correlations for high shelter costs (>30% of household income) and households occupied by usual residents (regular occupants). Population density, median property value (only in Ontario) and units that were recently occupied demonstrated negative correlations. Spatial variation at both the city and neighbourhood levels suggests a greater degree of programme customisation is required to ensure uniform building stock improvement. 'Policy relevance' Domestic retrofit will be a crucial component of every developed nation’s net zero strategy. For example, in Canada and the UK, houses account for 13% and 20% of energy-related greenhouse gas emissions, respectively. This paper explores trends in the most recently completed national retrofit programme in Canada, demonstrating rates of adoption across the programme, the effects of programme design modification, and the value of an understood programme brand and format for uptake. Further, when faced with tighter deadlines, there is a weakening of the relationship between adoption and spatially linked attributes such as population density, and duration of occupancy. Conversely, a strengthening of the relationship with levels of education and household costs was observed in some jurisdictions. The evidence in this paper strengthens the case for long-term, actively managed retrofit programmes to enable the skills base and consumer interest towards market transformation.

• Little previous literature includes a systemic analysis of cause-and-effect (causal) loops that trigger collective market behavior facing sustainability issues. • Based on logical argumentation, the article proposes a framework that integrates market-related concepts like competitive advantage or first movers in transition theories. • Next to the government, this article conceptualizes how companies, financial institutions, knowledge institutions and NGOs can take leadership for market transformation processes. • The framework allows market actors to know and fulfill their individual responsibilities in the proposed four phases of a sustainable market transformation. This article proposes a refined conceptual framework to understand and act upon sustainable market transformation processes. Currently, there is a knowledge gap between government-oriented approaches to transition management and market formation that is addressed in evolutionary economics. Consequently, this article builds upon literature in the field of evolutionary economics, systems theory and transition management, to conceptualize the causal loops which trigger collective behavior facing sustainability issues. Furthermore, it proposes how these causal loops can be altered by interventions of actors in four sequential transition phases and illustrates what kind of interventions are most effective to accelerate a sustainable market transformation process. Promising avenues for future empirical studies based on the suggested conceptual framework, are the investigation of how the concepts of sustainable market transformation are applied in different market contexts and the evaluation of whether the applied interventions actually alter the underlying causal loops. [ABSTRACT FROM AUTHOR]

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An important condition for the provision of the country's food security is the production of sufficient quantities of food ensuring its proper quality. The current state of development of the livestock industry, as the main supplier of the population with meat, milk and other products both in Ukraine and at the regional level does not meet its potential capabilities. The purpose of the study was to investigate the trends and patterns of the current state of the livestock industry at the regional level and to find the main ways of its development. The study used general scientific and economic-statistical methods, namely: series of dynamics, analysis and synthesis, comparison. Analysis of the current trends in the livestock industry at the regional level as well as some of its indicators in general for Ukraine was carried out. Changes and dynamics of the average annual available number of livestock and poultry by groups of animals are revealed. It was found that the positive changes in the number of animals led to an increase in meat production, including lamb and goat, and poultry. However, this did not increase the production of beef, pork, milk and honey. The structure of meat production does not fully correspond to the natural and economic area of the animal husbandry. The influence of changes in the dynamics of the level of productivity of farm animals on the gross output of products, especially in the branches of pig breeding, sheep breeding, beekeeping, is estimated. According to the results of the research, the level of production of the main types of livestock products per capita has increased, but does not yet fully meet the physiological norms of consumption of these products. Feed evaluation in animal husbandry allowed measuring the efficiency of their use in terms of nutrients per 1 conventional head and unit of production by its types. An assessment of the economic efficiency of the industry is carried out according to the main indicators that summarise it. In the structure of production costs, the largest part is occupied by direct material costs. It was found that only the production of milk and chicken eggs was profitable. The study suggests the main approaches to the development of the livestock industry in the future

The study substantiates the fact that the need to consolidate various approaches to the establishment and development of the rural economy in different countries is increasing, which is explained by the growing degree of transparency of national economies, intensified cooperation between them and the creation of interstate economic entities. In this context, there is a direct correlation between the globalization of the economy and the convergence of rural development policy, which is based on the mechanism of inclusive rural transformation. The purpose of the study is to substantiate the special features of the development of the rural economy as an objective process of market transformation and outline the benefits of the European experience for transition economies. It was substantiated that radical structural and institutional transformations in socioeconomic systems (both sectoral and territorial) were the impetus for the development of the rural economy as a modern phenomenon in the field of scientific knowledge around the world. First of all, this refers to the countries where the agricultural sector predominates in the development of GDP, and there is also a significant share of the rural population in relation to the urban population. It was proved that rural areas require a separate policy and mechanisms to manage their development, develop an appropriate institutional platform for the functioning of the rural economy and rural business, ensure proper living conditions for rural residents, preserve the environment, rural flair as well as cultural and historical heritage. The specific features of inclusive rural transformation in different groups of countries (with transition, agricultural, and urban economies) are highlighted, which reflects the process of increasing rural productivity, expanding employment opportunities, improving access to services and infrastructure, enabling policy influence, etc. It was theoretically proved that the effectiveness of market levers determines intersectoral cooperation and the level of economic development of the country (including the territorial division – urban and rural areas). It was established that the implementation of a successful economic policy on the transition to market principles in some countries, particularly EU member states, and their recognition as leaders of economic growth is accompanied by targeted government support and active innovation-oriented government policy with prudent use of various institutional regulators. The necessity and advantages of using the European experience of rural economy development for the countries with transition economies are proved.

The Canadian government created the EcoENEGY Retrofit for Homes programme (2007-12) to improve residential energy efficiency and reduce emissions produced through energy use. The uptake of retrofits varied both spatially and temporally. This research examines spatio-temporal patterns of retrofit adoption to understand the drivers behind participation in the grant programme and assess how future grant-based programmes might improve the uptake of efficiency measures. Temporal analysis demonstrated continued growth of programme participation over its original period of availability, and this accelerated once the programme was extended for an additional year after its original closure date. However, some spatial correlations weakened, which may be attributable to changes in programme design during the extension period. Seasonal variation was also observed, with spikes in retrofit activity occurring in winter. A regression analysis for conversion rates in Ontario and British Columbia displayed significant positive correlations for high shelter costs (>30% of household income) and households occupied by usual residents (regular occupants). Population density, median property value (only in Ontario) and units that were recently occupied demonstrated negative correlations. Spatial variation at both the city and neighbourhood levels suggests a greater degree of programme customisation is required to ensure uniform building stock improvement. [ABSTRACT FROM AUTHOR]

Since the global collapse of the socialist command economy, a significant differentiation in social and economic development within the former socialist world has been observed. Economists have pointed out a number of factors which could explain this disparity. One of the most important is market reform of the economy freeing Smith’s “invisible hand” that with the support of inclusive political and economical institutions makes it possible for the national economy to thrive and thus achieve higher welfare for the nation. In this article, the influence of various factors on social well-being in the post-socialist countries of Central and Eastern Europe is analyzed. Our analysis has revealed that such factors as the level of economic freedom, intensity of economic reform, fostering of human capital, and level of national economy output play a significant role in creating a positive social welfare dynamics in transitional nations. It appears that the importance of these factors may vary within the cross-section of selected countries; thus, different policy patterns with regard to social welfare could be applied depending on factor combinations existing in some specific countries.

Besides the sanitary crisis, the COVID-19 pandemic has caused socio-economic downturn globally. Among the affected economic sectors, the agriculture and food sectors were no exception. In the context of on-going market transformations in Romania, the national demand of agri-food products rushed the links involved in the agri-food value chains to adapt to sudden consumption behavioral changes. The objective of this research was to explore food consumption and expenditure changes in Romania in relation with the pandemic and tap into the economic implications. Data used in this research were taken over from the Romanian National Institute of Statistics and were processed in a manner that allowed the average dynamics index to be in the spotlight of this research. Results show market pressure, especially at the beginning of the second quarter of 2020 and a peak of the food expenditure increase in the first quarter of 2021. [ABSTRACT FROM AUTHOR]

Digital well-being has become a popular theme within a public discourse that increasingly attracts consumers, businesses, government institutions and technology providers who all face challenges in their technology-driven existence. However, there have been no attempts to create a comprehensive framework for a general understanding of digital well-being and the new roles and responsibilities that emerge from it in the tourism domain. Thus, this paper looks at understanding digital well-being in general and its concomitant applications in the tourism domain. After mapping characteristic digital well-being approaches and examples, we foresee the need for establishing a digital well-being continuum between everyday life and tourism that rests on three new sets of roles and responsibilities for the tourism domain, grouped around the need for adopting digital well-being philosophy in tourism, setting up new policies, and designing novel services and experiences. [ABSTRACT FROM AUTHOR]

This paper presents work currently being carried out in California on evaluating market effects. We first outline an approach for conducting market effect studies that includes the six key steps that were developed in study plans: (1) a scoping study that characterizes a particular market, reviews relevant market effects studies, develops integrated market and program theories, and identifies market indicators; (2) analysis of market evolution, using existing data sources; (3) analysis of market effects, based on sales data and interviews with key market actors; (4) analysis of attribution; (5) estimation of energy savings; and (6) assessment of sustainability (i.e., the extent to which any observed market effects are likely to persist in the absence or reduction of public intervention, and thus has helped to transform the market).We describe the challenges in conducting this type of analysis (1) selecting a comparison state(s) to California for a baseline, (2) availability and quality of data (limiting analyses), (3) inconsistent patterns of results, and (4) conducting market effects evaluations at one point in time, without the benefit of years of accumulated research findings, and then provide some suggestions for future research on the evaluation of market effects. With the promulgation of market transformation programs, the evaluation of market effects will be critical. We envision that these market effects studies will help lay the foundation for the refinement of techniques for measuring the impacts of programs that seek to transform markets for energy efficiency products and practices.