• Title/Summary/Keyword: New economic model

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Functioning of Economic Systems in the Context of Their Potential Development in the Conditions of Circular Economy

  • Pohrebniak, Anna;Petrashko, Liudmyla;Dovgopol, Nina;Ovsiuchenko, Yurii;Berveno, Oksana
    • International Journal of Computer Science & Network Security
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    • v.21 no.12
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    • pp.309-315
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    • 2021
  • The purpose of the article is to analyze the functioning of economic systems in the context of the development of their potential in a circular economy. It is determined that the functioning of economic systems to ensure their sustainability should meet modern challenges and provide for the formation of competitive institutional architecture, the introduction of structural and regulatory innovations, the transition to an innovative model of development. The specific principles of functioning of economic systems include openness, nonlinearity, multivectority, dynamism, emergence, uncertainty about the development of economic processes. It is substantiated that the linear nature of development and equilibrium are not dominant in the functioning of economic systems, and increasing the level of economic efficiency should go hand in hand with minimizing the activities of enterprises, which necessitates the use of circular economy. The main prerequisites for the transition to a circular economy are analyzed. It is determined that the basic concept of the circular economy involves the development of a system of production and consumption, which is based on processing, reuse, repair, product sharing, change of consumption patterns and new business models and systems. The main elements of the circular economy include: a closed cycle, the use of renewable energy sources, systems thinking. The correlation of the principles of sustainable development and the peculiarities of the application of the circular economy is analyzed. It is determined that the circular economy contrasts with the traditional linear economic model, which is based on the model of "take-do-consume-throw away". The advantages and disadvantages due to the use of the principles of circular economy are given. Based on the study, steps are identified to accelerate the transition from a linear economy to a circular economy.

Korea-EU FTA and the Facing Theses of Regional Economy (한-EU FTA 추진에 따른 지역경제의 당면과제 - 강원경제의 대응을 위한 제언 -)

  • Yu, Won-Keun
    • International Commerce and Information Review
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    • v.10 no.3
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    • pp.407-436
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    • 2008
  • The purpose of this study is to verify the economic effects of the on going Korea-EU FTA negotiations upon the regional economy and to present some strategic economic countermeasures to deal with the forthcoming changes on the economic environments. In comparing with the industrial structure between Korea and EU, due to the different specific part of their industrial competitiveness both parts would have complementary cooperative transactions and trade as well. And also Korea and EU would have the similar understanding of the importance of the field of agriculture and service in accordance with the economic standpoint respectively. The level of degree and magnitude of the effect of Korea-EU FTA upon the regional economy would be decided in accordance with the industrial structure and the level of income of the regional economy. We are not to confirm and specify the economic influences of Korea-EU FTA negotiations on the economic conditions of Gangwon province but to prepare rational economic countermeasures fit to its structural character. One of the political strategies that might be feasible is the inflow of foreign direct investment from the developed European countries to the regional economy. This developing model would mean a new experiment to activate any regional economy and a new formation of the policy of economic growth.

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The Effect of Drug Vintage on Mortality : Economic Effect of New Drug (약의 허가시점분포가 사망률에 매치는 영향 : 신약의 거시경제적 효과)

  • Jung, Kee-Taig;Kim, Jeong-Yoon;Lichtenberg, Frank
    • Health Policy and Management
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    • v.16 no.4
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    • pp.147-168
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    • 2006
  • Technological innovation has been regarded as the core competence for the economic growth of individual, as well as organization and country. Pharmaceutical innovation, what we call new medicines, influence people's longevity and productivity by increasing output per hour worked. Therefore, using claims data on virtually all the drugs and diseases of over 550,000 people enrolled in National Health Insurance Program in Korea, we examined the impact of the vintage (original FDA and KFDA approval year) of drugs used to treat a patients from July 1st to December 31st in 2002 on the patient's mortality at the end of 2004, controlling for demographic characteristics(age and sex), utilization of medical services, and the nature and complexity of illness. We found that people using newer drugs are less likely to die at the end of 2004, conditional on covariates. The estimated mortality rates were declining with respect to drug vintage for 1970s, 1980s and 1990s and highly significant. In addition to estimating the model for the entire sample, we estimated the model separately for several disease categories classified by Korean Classification of Disease. Estimates of three drug vintage variables for subgroups of people with (1)neoplasms, (2)endocrine, nutritional and metabolic diseases, and (3)the diseases of circulatory system displayed similar patterns.

A Computerized Model Development for Plant Layout Planning and Economic Analysis (컴퓨터를 이용한 공장설계 및 경제성 분석 Model 개발연구)

  • 이상도;김정자;송서일;하정진;이상원;서순근;박구현;정중희
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.6 no.8
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    • pp.1-11
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    • 1983
  • This study is consists of two parts. First, we analyzed two construction algorithms; CORELAP( Computerized Relationship Layout Planning) and ALDEP (Automated Layout Design Program). And we made a New Relationship Layout Planning overcoming the defaults of CORELAP and ALDEP. Second, we described the only improvement algorithm CRAFT(Computerized Relative Allocation of Facilities Technique). And we modified the CRAFT, which is considering the economic evaluation.

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The Impact of Microfinance on Households' Socioeconomic Performance: A Proposed Mediation Model

  • ABDULLAH, W Muhammad Zainuddin B Wan;ZAINUDIN, Wan Nur Rahini Aznie Bt;ISMAIL, Sarina Binti;HAAT, Mohd Hassan Che;ZIA-UL-HAQ, Hafiz Muhammad
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.3
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    • pp.821-832
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    • 2021
  • Economic deprivation of households remains a significant economic issue in the world. Researchers have shown great concern in identifying crucial factors to enhance poor households' socio-economic performance. Therefore, this paper aims to develop a new conceptual framework to investigate the influence of different microfinance services on households' socioeconomic performance using moderated mediation analysis of various crucial factors. Focus-group interviews with managements of the microfinance institution, i.e. Amanah Ikhtiar Malaysia (AIM), and a systematic literature review were conducted for this purpose, and a new framework for the future study has been developed. The result from focus-group interviews and systematic literature review propose microfinance financial services, training programs, and business coaching as independent factors, whereas household socioeconomic performance as a dependent factor in the proposed model. Specifically, this study provides the direction to scholars to empirically test the direct relationship between financial services and household socioeconomic performance and the indirect relationship between training programs, business coaching, and household socioeconomic performance. Further, microfinance institutions' service efficiency is also included as a moderator that can strengthen microfinance services' effectiveness. The study also provides useful implications for policymakers, financial institutions, households, micro-enterprises, and researchers to better understand microfinance interventions and household economic mechanisms.

Economic Self-Sufficiency Criteria for New Town Planning by Network Characteristics (도시네트워크 특성에 따른 신도시 경제적 자족성 기준 연구)

  • Song, Young-Il;Rhim, Joo-Ho
    • Land and Housing Review
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    • v.7 no.4
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    • pp.251-259
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    • 2016
  • As the spatial structure of a region is evolving into a decentralized multi-nucli model, networked connection among cities in a region is emerging as an important issue to strengthen regional competitiveness. This paper focused on the limitation of current new town planning criteria which just suggest a uniform standard for economic self-sufficiency by new-town size, without representing the network characteristics of new town. If a new town is planned as a economic strongpoint within a region, it needs to secure appropriate industrial functions. This study classified the characteristics of new towns by network analysis and reviewed the economic self-sufficiency criteria by new town types. Using various network connectedness indices, the 1st and 2nd round new towns in the capital region were analyzed, and land-use distribution of new-towns in other countries were also examined comparatively. The network characteristics of new towns are classified as three types: mono-nucleus, distributed center, and dependent. Based on this classification, planning criteria for self-sufficiency were compared among 6 new towns. This study provides implications for the amendment of "the sustainable new town planning criteria" or the revision of development plans.

Technology Selection Method for Optimal Energy Storage (기술 특성치 스크리닝을 통한 최적 에너지저장 기술 선정 방법)

  • Seong Jegarl;Ji Hyun Lee;Hyunshil Kim;Jeseok Shin;Jihun Lim
    • New & Renewable Energy
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    • v.19 no.1
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    • pp.31-40
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    • 2023
  • The expanding significance of energy storage (ES) technology is increasing the acceptability of power systems by augmenting renewable energy supply. To deploy such ES technologies, we must select the optimal technology that meets the requirements of the system and confirm the technical and economic feasibility of the business model based on it. Herein, we propose a method and tool for selecting the optimal ES technology suitable for meeting the requirements of the system, based on its performance characteristics. The method described in this study can be used to discover and apply various ES technologies and develop business models with excellent economic feasibility.

The Impact of Financial Integration on Economic Growth in Southeast Asia

  • Bong, Angkeara;Premaratne, Gamini
    • The Journal of Asian Finance, Economics and Business
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    • v.6 no.1
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    • pp.107-119
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    • 2019
  • This paper examines the impact of financial integration on economic growth in Southeast Asia over the period 1993-2013. This paper further investigates whether the relationship depends on the level of financial and economic development, government corruption, and macroeconomic policy. These questions raise important issues both from a theoretical and a policy perspective. We employ the generalized methods of moment (GMM) in the dynamic panel estimation framework to analyse several factors, including initial income, initial schooling, financial development, inflation, trade openness, corruption, and financial crisis. The study further analyzes the data using the EGLS model to examine the consistency of the GMM model. We found that financial integration has a significant positive effect on economic growth in Southeast Asia. Our findings suggest that increasing financial integration could improve the productive capacity of the economy, including more investments and efficient allocation of capital, and thus enhancing economic growth in this region. More specifically, the results suggest that the government should work towards eliminating corruption and stabilizing macroeconomics in order to enhance financial integration and economic growth. This paper sheds new insights on a better evaluation of the past and present theorizing on the subject of financial integration and economic growth; especially, in Southeast Asia.

Importance of Clusters in Industry Development: A Case of Singapore's Petrochemical Industry

  • Pillai Jayarethanam
    • Journal of Technology Innovation
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    • v.14 no.2
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    • pp.1-27
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    • 2006
  • This paper rejuvenates the existing discussion on the importance of cluster approach to industry development strategies. Current evidences suggest that the shape of economic policy and practice is changing significantly around the world. Governments continually search for new tools and policy formulas to improve economic performance and create economic prosperity for all citizens. In this context a more proactive and strategic role for government in support of the cluster-based economic development model has emerged. This paper uses Singapore's petrochemical industry as an example to study the cluster approach to industry development. In doing so, there is much optimism to the importance of state and its institutions to play a significant role on industry development. Nevertheless, the study also raises doubts on whether the cluster-based strategy is due to the concept itself or due to other important factors.

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A Study on the Construction of National Cultural Information Network Model through Feasibility Analysis (국가 문화정보망 구축 당위성 분석을 통한 모형 설정에 관한 연구)

  • Jeong, Dong-Youl
    • Journal of the Korean Society for information Management
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    • v.22 no.3 s.57
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    • pp.13-36
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    • 2005
  • As the importance of cultural information becomes greater than before, there are some needs for a new national economic paradigm in the knowledge based society. The purpose of this paper is to suggest guidelines for building up a national cultural information network model that enable to promote government's recognition and cultural policy. This research includes feasibility analysis of cultural policy perspective, current situations, and economic effect of cultural industry.