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Topic Review
NHRE Deployment
Despite globally progressing energy transition, the deployment of non-hydropower renewable energy (NHRE) in developing countries varies by country and overall is moderate. This entry aims to explain why developing economies with significant challenges in the energy sector are not actively engaged in NHRE diffusion. In doing so, the entry reviews scholarly work on renewable energy (RE) deployment in developing countries and presents a two-stage analytical framework for assessing the NHRE development status. The procedure helps assess the current situation in the national energy sectors in connection to their economic growth and development, environmental sustainability and energy security. At the next stage, the framework lets analyse the preparedness of the national energy sectors for NHRE diffusion. The analysis spans six dimensions: structure of energy sector, RE regulation, institutions and governance, capital and investment, infrastructure and business environment, and human capital. The two-stage analytical framework assists in checking the hypothesis that more advanced economically and institutionally countries are more likely to commence NHRE development.
  • 1.2K
  • 27 Oct 2020
Topic Review
Trade competition
We discuss the concept of trade competition and review the fundamental measures recently introduced in the literature to capture this concept in empirical terms. To that end, a modified version of the Krugman index is taken as starting point.  
  • 1.2K
  • 29 Oct 2020
Topic Review
Journal JRFM
Journal of Risk and Financial Management (ISSN 1911-8074; ISSN 1911-8066 for printed edition) is an international, peer-reviewed, open access journal on risk and financial management. JRFM was formerly edited by Prof. Dr. Raymond A.K. Cox and published by Prof. Dr. Alan Wong online in one yearly volume from 2008 until end 2012. Since October 2013, it is published monthly and online by MDPI. International Engineering and Technology Institute (IETI), Institute of Data Science and Artificial Intelligence (IDSAI), International Research Institute for Economics and Management (IRIEM) are affiliated to Journal of Risk and Financial Management (JRFM) and their members receive a discount on the article processing charges. Manuscripts are peer-reviewed and a first decision provided to authors approximately 13.9 days after submission; acceptance to publication is undertaken in 2.9 days (median values for papers published in this journal in the second half of 2020).
  • 1.2K
  • 26 Sep 2021
Topic Review
Human-Centered Artificial Intelligence
Artificial intelligence (AI) is currently being developed by large corporations, and governments all over the world are yearning for it. AI isn’t a futuristic concept; it is already here, and it is being implemented in a range of industries. Finance, national security, health care, criminal justice, transportation, and smart cities are all examples of this. There are countless examples of AI having a substantial impact on the world and complementing human abilities.
  • 1.2K
  • 12 Jul 2022
Topic Review
Resource Curse and Economic Diversification
Economic diversification is an essential aspect of sustainable development as diversification enhances macroeconomic stability and promotes structural and long-term transformation not only in the economy but also in other pillars of development such as social institutions and dimensions. 
  • 1.1K
  • 07 Mar 2022
Topic Review
Hedonic Price Model-Based Real Estate Appraisal
Hedonic price model-based real estate appraisal is used for evaluating the value of real estate by using multiple regression function models based on the hedonic price theory.
  • 1.1K
  • 20 Apr 2022
Topic Review
The New Palgrave Dictionary of Economics
The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan. It runs to 7,680 pages and 5.8 million words. It includes 1,844 articles, of which 1057 are new articles and, from the earlier edition, 80 "classic" essays, 157 revised articles, and 550 edited articles. It is the product of 1,506 contributors, 25 of them Nobel Laureates in Economics. Articles are classified according to Journal of Economic Literature (JEL) classification codes. The New Palgrave is also available in a hyperlinked online version. Article information by abstract, outline, and keywords is available without subscription. These are accessed by "Go to" or "Quick" searches or alphabetical article links by first letter, see Articles A-Z. Refined search by using JEL classification code, article elements, Boolean operators, or wildcards is available, see Advanced search. Online content is added to the 2008 edition from quarterly updates links, see Online Updates. The first edition was titled The New Palgrave: A Dictionary of Economics (1987), edited by John Eatwell, Murray Milgate, and Peter Newman and published in four volumes. It is discussed in a section below. Access to full-text articles for both editions and post-2008 updates is available online by subscription, whether of an organization, a person, or a person through an organization.
  • 1.1K
  • 29 Nov 2022
Topic Review
Cost-Benefit Analysis
Cost-benefit analysis (CBA) is a method that is used for making investment decisions in public and private sector, and comparing benefits and costs resulting from the investments. This method attempts to determine present value of potential benefits and costs of any intended investment, and selects the project with the most benefits by comparing various projects designed for the investment.
  • 1.1K
  • 29 Oct 2020
Topic Review
Conduit and Sink OFCs
Conduit OFC and sink OFC is an empirical quantitative method of classifying corporate tax havens, offshore financial centres (OFCs) and tax havens. Traditional methods for identifying tax havens analyse tax and legal structures for base erosion and profit shifting (BEPS) tools. However, this approach follows a purely quantitative approach, ignoring any taxation or legal concepts, to instead follow a big data analysis of the ownership chains of 98 million global companies. The technique gives both a method of classification and a method of understanding the relative scale – but not absolute scale – of havens/OFCs. The results were published by the University of Amsterdam's CORPNET Group in 2017, and identified two classifications: In 2017, the European Parliament adopted the CORPNET approach into their frameworks for addressing tax havens. In 2018, research by Gabriel Zucman showed that using Orbis database connections specifically underestimates the scale of Ireland, which the Zucman–Tørsløv–Wier 2018 list showed is the largest Conduit OFC in the world. This aside, CORPNET's Conduits and Sinks reconcile closely with the most noted academic top ten tax haven lists.
  • 1.1K
  • 15 Nov 2022
Topic Review
Demand Response Products
Demand response refers to planning, implementing and monitoring the use of electricity to generate changes in the consumers' demand profile to adapt to different needs. Thus, a Demand Response Product can be defined as the contractual framework which guarantees that the service provided by flexible consumers satifies the minimum requirements of the related service to the final user of such flexibility (network operator, energy trader, aggregator, etc.) Demand Response is a key element of future power systems due to its capacity to defer grid investments, improve demand participation in the market and absorb renewable energy source variations. In this regard, Demand Response can play an important role in delivering ancillary services to power systems.
  • 1.1K
  • 18 Mar 2021
Topic Review
Benefit Corporations and B Corps
Benefit Corporations and B Corps represent alternative models of enterprise, often referred to as hybrid companies that bridge the for-profit and not-for-profit models. In particular, such firms need to manage their dual mission, integrate social and environmental goals in their business model, and incorporate accountability mechanisms, all while scaling up and garnering the necessary resources to be economically competitive.
  • 1.1K
  • 13 Oct 2021
Topic Review
Renewable and Non-Renewable Energy Consumption for Economics
Balancing of different dimensions of development—economic, environmental, social, is an imperative of policies and strategies of sustainable growth, which are practiced today in the EU and globally. A 1% increase in the share of renewable (REC) and information and communication technology (ICT) in total exports leads to GDP p.c. growth in the long run by 0.151% and 0.168% in old EU countries, i.e., 0.067% and 0.039% in new EU countries, respectively. Contrary, an increase of non-renewable energy consumption (NREC) by 1% has a significant and negative impact on GDP p.c. in the long run, in both groups, leading to a decrease of economic growth by 0.512% in the old and 1.306% in the new EU group.
  • 1.1K
  • 14 Oct 2022
Topic Review
Economic Policy of the Indira Gandhi Premiership
The economic policy of the Indira Gandhi premiership was characterized by moderate tax increases on higher income Indians, bank nationalisation, green revolution. Gandhi presided over three Five-Year Plans as Prime Minister, two of which succeeded in meeting the targeted growth. There is considerable debate regarding whether Gandhi was a socialist on principle or out of political expediency. Sunanda K. Datta-Ray described her as "a master of rhetoric...often more posture than policy", while The Times journalist, Peter Hazelhurst, famously quipped that Gandhi's socialism was "slightly left of self-interest." Critics have focused on the contradictions in the evolution of her stance towards communism; Gandhi being known for her anti-communist stance in the 1950s with Meghnad Desai even describing her as "the scourge of [India's] Communist Party." Yet, she later forged close relations with Indian communists even while using the army to break the Naxalites. In this context, Gandhi was accused of formulating populist policies to suit her political needs; being seemingly against the rich and big business while preserving the status quo in order to manipulate the support of the left at times of political insecurity, such as the late 1960s. Although Gandhi came to be viewed in time as the scourge of the right-wing and reactionary political elements of India, leftist opposition to her policies emerged. As early as 1969, critics had begun accusing her of insincerity and machiavellianism. The Indian Libertarian wrote that: "it would be difficult to find a more machiavellian leftist than Mrs Indira Gandhi...for here is Machiavelli at its best in the person of a suave, charming and astute politician." Rosser wrote that "some have even seen the declaration of emergency rule in 1975 as a move to suppress [leftist] dissent against Gandhi's policy shift to the right." In the 1980s, Gandhi was accused of "betraying socialism" after the beginning of Operation Forward, an attempt at economic reform. Nevertheless, others were more convinced of Gandhi's sincerity and devotion to socialism. Pankaj Vohra noted that "even the late prime minister's critics would concede that the maximum number of legislations of social significance was brought about during her tenure...[and that] she lives in the hearts of millions of Indians who shared her concern for the poor and weaker sections and who supported her politics." In summarizing the biographical works on Gandhi, Blema S. Steinberg concluded she was decidedly non-ideological. Only 7.4% (24) of the total 330 biographical extractions posit ideology as a reason for her policy choices. Steinberg noted Gandhi's association with socialism was superficial; only having a general and traditional commitment to the ideology, by way of her political and family ties. Gandhi personally had a fuzzy concept of socialism. In one of the early interviews she had given as Prime Minister, Gandhi had ruminated: "I suppose you could call me a socialist, but you have understand what we mean by that term...we used the word [socialism] because it came closest to what we wanted to do here – which is to eradicate poverty. You can call it socialism; but if by using that word we arouse controversy, I don't see why we should use it. I don't believe in words at all." Regardless of the debate over her ideology or lack of thereof, Gandhi remains a left-wing icon. She has been described by Hindustan Times columnist, Pankaj Vohra as "arguably the greatest mass leader of the last century." Her campaign slogan, Garibi Hatao ('Remove Poverty'), has become the iconic motto of the Indian National Congress. To the rural and urban poor, untouchables, minorities and women in India, Gandhi was "Indira Amma or Mother Indira."
  • 1.0K
  • 24 Nov 2022
Topic Review
Degrowth
Degrowth (French: décroissance) is a political, economic, and social movement based on ecological economics, anti-consumerist and anti-capitalist ideas. It is also considered an essential economic strategy responding to the limits-to-growth dilemma (see The Path to Degrowth in Overdeveloped Countries and post-growth). Degrowth thinkers and activists advocate for the downscaling of production and consumption—the contraction of economies—arguing that overconsumption lies at the root of long term environmental issues and social inequalities. Key to the concept of degrowth is that reducing consumption does not require individual martyring or a decrease in well-being. Rather, "degrowthers" aim to maximize happiness and well-being through non-consumptive means—sharing work, consuming less, while devoting more time to art, music, family, nature, culture and community.
  • 1.0K
  • 24 Nov 2022
Topic Review
Real Estate Bubble
A real estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and typically follow a land boom. A land boom is the rapid increase in the market price of real property such as housing until they reach unsustainable levels and then decline. This period, during the run up to the crash, is also known as froth. The questions of whether real estate bubbles can be identified and prevented, and whether they have broader macroeconomic significance, are answered differently by schools of economic thought, as detailed below. Bubbles in housing markets are more critical than stock market bubbles. Historically, equity price busts occur on average every 13 years, last for 2.5 years, and result in about 4 percent loss in GDP. Housing price busts are less frequent, but last nearly twice as long and lead to output losses that are twice as large (IMF World Economic Outlook, 2003). A recent laboratory experimental study also shows that, compared to financial markets, real estate markets involve longer boom and bust periods. Prices decline slower because the real estate market is less liquid. The financial crisis of 2007–2008 was related to the bursting of real estate bubbles that had begun in various countries during the 2000s.
  • 1.0K
  • 19 Oct 2022
Topic Review
Senior housing universal design
The senior housing universal design (SHUD) is relatively new, and uprising approach to primarily construct flats that would meet the needs of the elderly and/or disabled ones. These have been termed “barrier-free flats”. The necessary adaptations are implemented at the architectural design stage and involve modifications of bathroom, kitchen, household equipment, furniture, doors, as well as passageways. The primary SHUD of living spaces suitable for senior citizens (barrier-free flats) is more beneficial from the socio-economic perspective as compared to the adaptation of existing houses. 
  • 1.0K
  • 27 Oct 2020
Topic Review
Food System and Circular Economy
       Circular economy can play an active role in solving the unsustainability of the food production system, contributing to the creation of shorter and more resilient supply chains. Some solutions include policy regulations driving consumption towards more sustainable choices and the reduction of food waste: “best before” labels might be scrapped, food sharing initiatives incentivized and organic waste regarded as a high-value raw-material. Bio-refineries can be the catalyst of a green transition, where food waste can generate biofuels, bio-chemicals, plastics, textiles, medicines and much more. Circular practices seem to hold the potential for a win–win solution, simultaneously enhancing sustainability throughout the entire value chain (from production to consumption and post-consumption) and improving its resilience through the introduction of localized supply chains, making the food system less dependent on international trade. The European Union is working towards this direction (as its policy and social media agenda exposes) and will hopefully accelerate the transition to meet its Green New Deal expectations.
  • 1.0K
  • 22 Oct 2020
Topic Review
European Single Market
The European Single Market, Internal Market or Common Market is a single market comprising the 27 member states of the European Union (EU) as well as – with certain exceptions – Iceland, Liechtenstein, and Norway through the Agreement on the European Economic Area, and Switzerland through bilateral treaties. The single market seeks to guarantee the free movement of goods, capital, services, and people, known collectively as the "four freedoms". A number of potential EU accession candidates have Stabilisation and Association Agreements with the EU, which allow for limited participation in selected sectors of the Single Market, including Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. In addition, through three individual agreements on a Deep and Comprehensive Free Trade Area (DCFTA) with the EU, the post-Soviet countries of Georgia, Moldova, and Ukraine have also been granted limited access to the Single Market in selected sectors. Turkey has access to the free movement of some goods via its membership in the European Union–Turkey Customs Union. The United Kingdom left the European Single Market on 31 December 2020. An agreement was reached between the UK Government and European Commission to align Northern Ireland on rules for goods with the European Single Market, to maintain an open border on the island of Ireland. The market is intended to increase competition, labour specialisation, and economies of scale, allowing goods and factors of production to move to the area where they are most valued, thus improving the efficiency of the allocation of resources. It is also intended to drive economic integration whereby the once separate economies of the member states become integrated within a single EU-wide economy. The creation of the internal market as a seamless, single market is an ongoing process, with the integration of the service industry still containing gaps. According to a 2019 estimate, because of the single market the GDP of member countries is on average 9 percent higher than it would be if tariff and non-tariff restrictions were in place.
  • 1.0K
  • 21 Oct 2022
Topic Review
Least Developed Countries
The Least Developed Countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. A country is classified among the Least Developed Countries if it meets three criteria: (1) Poverty – adjustable criterion based on GNI per capita averaged over three years. (As of 2018) a country must have GNI per capita less than United States dollar 1,025 to be included on the list, and over $1,230 to graduate from it. (2) Human resource weakness (based on indicators of nutrition, health, education and adult literacy). (3) Economic vulnerability (based on instability of agricultural production, instability of exports of goods and services, economic importance of non-traditional activities, merchandise export concentration, handicap of economic smallness, and the percentage of population displaced by natural disasters). As of 2018, 47 countries are classified as LDC, while five have been upgraded between 1994 and 2017. The WTO recognizes the UN list of LDCs in toto. 
  • 1.0K
  • 17 Oct 2022
Topic Review
Greenhouse Gas Footprint
The Greenhouse gas footprint, or GHG footprint, refers to the amount of greenhouse gases that are emitted during the creation of products or services. Human activities are one of the main causes of greenhouse gas. These increase the earth's temperature and are emitted from fossil fuel usage in electricity and other byproducts of manufacturing. The major effects mainly consist of climate changes, such as extreme precipitation and acidification and warming of oceans. Climate change has been occurring since the start of the Industrial Revolution in the 1820s. Due to humans' heavy reliance on fossil fuels, energy usage, and constant deforestation, the amount of greenhouse gas in the atmosphere is increasing, which makes reducing a greenhouse gas footprint harder to achieve. However, there are several ways to reduce one's greenhouse gas footprint, such as using more energy efficient household appliances, increase usage of fuel efficient cars, and saving electricity.
  • 1.0K
  • 04 Nov 2022
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