Ethics, Constitution, and Sustainable Development: Foundations for Building a Rational Society | Chapter 8 | The Tapestry of Development: Weaving Ethics into a Sustainable Future

 

Sustainable development has become a cornerstone of global, regional, and national development agendas, particularly following the adoption of the United Nations Sustainable Development Goals (SDGs) in 2015. Ethics and constitutionalism emerge as critical frameworks for navigating the complexities of sustainable development. This study explores how ethics and governance can provide sustainable pathways to poverty eradication by balancing the three pillars of sustainable development: economic growth, social equity, and environmental protection. It emphasises the role of ethical reasoning, constitutional principles, and governance frameworks in navigating trade-offs and guiding inclusive decision-making. Despite the global adoption of the Sustainable Development Goals (SDGs), many countries, particularly in the Global South, struggle to harmonise economic, social, and environmental priorities. Development projects often prioritise short-term economic gains at the expense of ecological sustainability and social justice. Weak governance, policy incoherence, and the absence of ethical frameworks exacerbate these tensions, undermining poverty eradication efforts. The research adopts a qualitative, interpretive methodology that combines a systematic literature review, policy analysis, and case study examination. The study draws on scholarly works, international development reports, constitutional provisions, and real-world examples of sustainable development initiatives. The analysis focuses on identifying ethical and governance mechanisms that support integrated and sustainable poverty eradication strategies. The study contributes to sustainability scholarship by proposing an ethical-constitutional framework for decision-making in sustainable development. It integrates principles of justice, equity, and intergenerational responsibility with governance tools such as stakeholder engagement, life cycle assessments, and constitutional rights. Sustainable development faces persistent trade-offs that cannot be resolved without ethical and governance guidance. Ethical principles such as fairness, inclusivity, and intergenerational equity provide a normative basis for reconciling competing interests. Constitutional provisions, particularly environmental and socio-economic rights, can act as enforceable mechanisms for ensuring balanced development. Multi-stakeholder engagement and just transition strategies are critical to ensuring that poverty eradication does not worsen social or environmental vulnerabilities. Balancing economic prosperity, social justice, and environmental protection requires embedding ethics and governance into the core of sustainable development policies. By integrating constitutional mandates, ethical reasoning, and participatory governance, countries can create sustainable pathways to poverty eradication that are socially inclusive and environmentally responsible. The study highlights the importance of collaboration, policy coherence, and ethical accountability in building a just and sustainable future.

 

Author(s) Details

John Motsamai Modise
Tshwane University of Technology, South Africa.

 

Please see the book here :- https://doi.org/10.9734/bpi/mono/978-93-88417-39-6/CH8

Advancing Corporate Governance in the Banking Sector in Sri Lanka: Assessing Regulatory Frameworks and Supervisory Roles | Chapter 7 | Contemporary Research in Business, Management and Economics Vol. 6

 

In the aftermath of the civil war in Sri Lanka, the country has witnessed a significant increase in economic development, with the banking sector assuming a pivotal role in financing growth and fostering economic prosperity. This chapter investigates the importance of Corporate Governance (CG) within Sri Lanka's banking sector, recognizing its profound influence on public trust and confidence, essential for ensuring the stability of financial institutions. The chapter critically examines the state of CG development and its implications, focusing on the adequacy of regulatory frameworks provided by key legislative Acts such as the Companies Act, Banking Acts, and Securities Act and other pertinent regulations. It highlights the crucial role of a robust governance culture within the banking sector and emphasizes that banking institutions are crucial for maintaining a healthy economy. The banking industry stands as the cornerstone of Sri Lanka's economy and operates in a highly regulated environment. Banks play a critical role by taking public deposits and facilitating financial transactions for individuals and businesses, thereby contributing significantly to economic stability and growth. Given the country's past economic challenges, establishing solid governance practices within the banking sector is imperative for steering Sri Lanka towards a more resilient and prosperous future. The Central Bank of Sri Lanka (CBSL) emerges as a key player in this narrative, exhibiting continuous improvement in its supervisory capacity. Through the enforcement of stringent measures and the adoption of BASEL principles, the CBSL demonstrates a steadfast commitment to enhancing CG within the banking industry. Additionally, the CBSL has mandated a comprehensive code of CG, stressing the importance of full compliance from banks within a specified timeframe. However, despite these advancements, challenges persist in addressing CG issues within the banking landscape. This study sheds light on the scope, impact, and effectiveness of the supervisory and regulatory oversight of the CBSL, while also highlighting ongoing challenges. By critically evaluating regulatory frameworks and supervisory roles, this chapter aims to contribute to the ongoing discourse on advancing CG in the banking sector in Sri Lanka, ultimately fostering a more stable and resilient financial ecosystem.

 

 

Author(s) Details

W. Indira Nanayakkara

Faculty of Law, University of Colombo, Sri Lanka.

 

 

Please see the book here:- https://doi.org/10.9734/bpi/crbme/v6/8364E

Nutraceuticals and Vitamins: A Comprehensive Guide for Naturopaths and Allied Health Professionals | Chapter 3 | Disease and Health Research: New Insights Vol. 2

 

Life has become much faster due to rapid economic development and poor nutrition and food quality. As people choose junk food and processed foods, their diet becomes unbalanced and they suffer from lifestyle-related diseases that cause various health problems. The FDA defines medical food as a special type of compounded or processed food prepared for a patient, either partially or completely as the sole source of nutrition as part of the oral diet. These products are given through an enteral feeding tube to patients who are unable to absorb food orally. Their ingredients are tailored according to their nutritional benefits.  Patients are being encouraged to make positive lifestyle changes as an increasing number of diseases, such as metabolic syndrome, are preventable through lifestyle changes. One of them is to change your eating habits. Dietary supplements are aimed at preventing such diseases.

 

Author(s) Details

Sataz Rahmania
IIMT College and Hospital of Naturopathy and Yogic Sciences, India.

Sangeeth Somanadhapai
Faculty of Naturopathy & Yogic Sciences, SGT University, Gurugram, India.

 

Please see the book here:- https://doi.org/10.9734/bpi/dhrni/v2/1126

Empowering Rural Communities: Insights from North-East India | Chapter 7 | Business, Management and Economics: Research Progress Vol. 3

Rural development, as a whole, refers to the measures and initiatives done to raise the standard of living in rural areas, outlying towns, and isolated villages. These neighborhoods can be identified by their small population density relative to open space. Poverty, on the other hand, is a socioeconomic phenomenon in which a segment of society is unable to meet even its most basic needs. The bare necessities for humans include food, clothing, housing, education, and other necessities of life. The government (Central) has embraced the concept of cluster development to revitalize the existing small and rural enterprises. This will give the company a competitive advantage in three separate ways: through increased productivity, innovation, and the creation of new businesses. The Indian government provides total funding for NESIDS. The program provides funding for initiatives including the construction of physical infrastructure for the delivery of water, electricity, communication, and tourism. Additionally, it emphasizes social infrastructure important to health and education.

 

Author(s) Details

Poulami Ray

ICAR-National Dairy Research Institute, Karnal, Haryana, India.

 

Ajmer Singh

ICAR-National Dairy Research Institute, Karnal, Haryana, India.

 

Bhagirath Das

ICAR-Indian Agricultural Research Institute-Assam, Dirpai, Gogamukh, Assam, India.

 

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v3/1614

Educational Policy Reforms in Zimbabwe Since 1980: Foundations for a Transformative Higher Education Curriculum | Chapter 5 | Quality Assurance Practices for Transformative Higher Education in Southern Africa

This chapter examines how the conservative reforms of the transitional government (1978-1980), particularly the Education Act of 1979, reinforced colonial-era inequalities. In a move targeted at addressing this imbalance soon after independence, the government embarked on more radical reforms in education. For instance, the Education Act 1987 was targeted at intensifying the provision of education, including the removal of discriminatory practices that were put in place by the colonial government. In the 1990s, the Zimbabwean government reviewed its educational goals guided by the Education Act 1987 (as amended in 1996) to support efficient and quality education. This called for the adoption of programmes of continuing professional development premised on the drive to move education from an academic approach to a competency-based approach. Thus, the Education Act 1987 (as amended in 2006) implemented a 'two-path way’ education structure based on the belief that all students leave school with at least one subject from the skills area path. Based on the 1999 Presidential Commission of Inquiry in Education and Training, a framework for primary and secondary education (2015 - 2022; 2024 - 2030) was introduced with an emphasis outcome-based approach to learning. It is imperative to conclude that the colonial regulatory framework and statutory provisions created the glaring inequalities, which have been addressed upon the attainment of independence through various phases geared towards creating a foundation for a transformed higher education guided by the ethos of quality assurance.

 

Author (s) Details

Young Mudavanhu
Department of Curriculum & Educational Management Studies, Bindura University of Science Education, Zimbabwe.

Pinias Chikuvadze
Department of Curriculum & Educational Management Studies, Bindura University of Science Education, Zimbabwe.

 

Claretah Makuvire
Department of Curriculum & Educational Management Studies, Bindura University of Science Education, Zimbabwe.

 

Daimond Dziva
Department of Curriculum & Educational Management Studies, Bindura University of Science Education, Zimbabwe.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-49729-81-0/CH5

Factors Influencing Tax Evasion among Small and Medium Enterprises in Zimbabwe | Chapter 6 | New Advances in Business, Management and Economics Vol. 5

This paper aims to establish the major determinants of tax non-compliance among SMEs in the Zimbabwean economy. Small and medium-scale enterprises (SMEs) are recognized globally for being the backbone of the economy through economic advancement, innovation, wealth generation, and further growth. SMEs have a high tax non-compliance rate, which hinders the development brought to many economies.

 

The survey research design was used, and the SMEs operating in Bulawayo province were considered the sample of the study. The stratified random sampling technique was adopted for eliciting information, and questionnaires were administered to collect data from the respondents. 187 questionnaires were issued, and 153 were returned. Regression analysis was used to establish the relationship between tax non-compliance and the predictive variables using SPSS version 22. Three main models of tax compliance were reviewed in the literature, and strong evidence of tax compliance determinants was provided.

 

The study revealed poor follow-up strategy, lack of a tax audit, high tax rates, financial constraints, abuse of public funds by authorities, and tax education as the major determinants. SME operators should apply modern business survival strategies to counter financial limitations. ZIMRA should maintain a database for SMEs for tax audit purposes, intensify follow-up strategies, increase tax audits, and increase tax support services for SMEs. The government should consider reducing tax rates, which are perceived to be too high, as they promote tax evasion and failure among SMEs. Massive campaigns against evasion and avoidance of tax and intensive tax education should be embarked on

 

Author (s) Details

 

Banele Dlamini
Department of Accounting and Finance, Lupane State University, Zimbabwe.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v5/7805

Assessing the Growth and Performance of Crop Insurance Schemes in India: Trends, Challenges and Opportunities | Chapter 6 | Agricultural Sciences: Techniques and Innovations Vol. 1

This study assessed the growth and performance of key crop insurance schemes, including yield-based crop insurance schemes such as the National Agricultural Insurance Scheme (NAIS) and the Pradhan Mantri Fasal Bima Yojana (PMFBY), as well as weather-based crop insurance schemes like the Weather-Based Crop Insurance Scheme (WBCIS) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS). Secondary data was collected for the period from 1999-2000 to 2023-24, covering statistical indicators such as the number of farmers insured, total area covered, total premium collected, and total claims paid under NAIS, PMFBY, WBCIS, and RWBCIS. The analysis of yield-based crop insurance schemes revealed significant growth in farmer participation, insured area, premium collection, and claims disbursement. In contrast, weather-based crop insurance schemes exhibited fluctuating trends in participation and financial performance. Indicators such as insured area and total insured value showed positive growth but a decline in farmer participation remained a concern.

 

Author (s) Details

Mandepudi Mary SharonA
Department of Agricultural Economics, Agricultural College, Bapatla, Acharya N.G Ranga Agricultural University (ANGRAU), Government of Andhra Pradesh, India.

 

Mangalapuri Pavani
Department of Agricultural Economics, Agricultural College, Bapatla, Acharya N.G Ranga Agricultural University (ANGRAU), Government of Andhra Pradesh, India.

 

B. Aparna
Department of Agricultural Economics, Agricultural College, Bapatla, Acharya N.G Ranga Agricultural University (ANGRAU), Government of Andhra Pradesh, India.

 

Please see the book here:- https://doi.org/10.9734/bpi/asti/v1/5125

Unveiling the Nexus of Industrialisation and Trade in Eastern and Southern Africa: A Comprehensive Analysis | Chapter 6 | Business, Management and Economics: Research Progress Vol. 9

 Abstract: This article scrutinises the intricate relationship between industrialisation efforts and trade performance in the Eastern African Community (EAC) and Southern African Development Community (SADC) regions. Leveraging secondary review methodology, it explores the impact of industrialisation initiatives on trade dynamics, as outlined in the EAC Industrialisation Policy 2012-2032 and SADC Industrialisation Strategy 2015-2063. It serves as a foundation for formulating and implementing policies that can effectively harness the benefits of industrialisation to drive trade performance and promote sustainable economic development in the Eastern and Southern African regions. The literature review findings and the analysis demonstrate the significant potential of industrialisation efforts, guided by the EAC Industrialization Policy 2012-2032 and SADC Industrialization Strategy 2015-2063, to promote trade performance in these regions. The analysis also reveals a disconnect between industrialisation endeavours and trade diversification.

Furthermore, the study has identified specific areas where policy interventions can further enhance the positive outcomes of industrialisation efforts on trade performance within the EAC and SADC regions. This includes recommendations for strengthening infrastructure, encouraging technology adoption and innovation, streamlining trade facilitation processes, investing in capacity building and skills development, fostering regional integration, and emphasising environmentally sustainable industrial practices.

 

 

Author (s) Details

 

Johansein Rutaihwa
Southern African Development Community (SADC) Secretariat, BP 0095 Gaborone, Botswana.

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v9/32

The Role of Modern Media in Preserving African Moral Values and Promoting Economic Development in Ghana | Chapter 8 | New Advances in Business, Management and Economics Vol. 3

In the modern era of globalisation, the media have become a powerful tool that surpasses physical borders, facilitating the flow of ideas, information, and cultural manifestations around the globe. This paper delved into the effects of modern media on the preservation of traditional African moral values and economic development in Ghana. The paper is purely qualitative and relies mainly on related literature. Content and thematic analyses were employed. It was revealed that radio and television, especially in African contexts, serve as mediums for passing down cultural norms, values, and practices. The impact of modern media on moral ideals and cultural practices in sub-Saharan Africa is subject to variation depending on socio-economic conditions, rates of urbanisation, and levels of technical accessibility. By showcasing traditional music, storytelling, and other cultural elements, media platforms contribute to maintaining a sense of continuity in cultural identity. The ability to convey perceptions, hopes and dreams unrestricted on these platforms enables Africans to actively participate in shaping their cultural narrative. It was revealed that increased media consumption correlates with a rise in support for Lesbian, Gay, Bisexual, Transgender, Queer, or Questioning, Intersex, Asexual and More (LGBTQIA+) rights in Africa. Also, media can be used as a tool for exacerbating hate speech and propaganda. Media literacy programmes and public awareness campaigns can educate citizens about media's influence and encourage critical thinking. Education systems should integrate cultural education highlighting traditional values, history, and practices into the academic curriculum. Academic institutions should invest in research to continuously monitor media's impact on cultural values and economic development. In conclusion, the findings have shown that the media and the showcase of foreign media content have had both positive and negative effects on the economic development and preservation of Ghanaian and African traditional moral values.

 

Author (s) Details

 

Thomas Azagsiba Agana
Simon Diedong Dombo University of Business and Integrated Development Studies, Ghana.

 

Michael Pervarah
Simon Diedong Dombo University of Business and Integrated Development Studies, Ghana.

 

Lawrence Naaikuur
Simon Diedong Dombo University of Business and Integrated Development Studies, Ghana.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v3/4207

Female Entrepreneurship: How Congolese Refugee Women Drive Economic Growth in KwaZulu-Natal, South Africa | Chapter 11 | Economics and Entrepreneurship: The Proceedings of the 10th International Conference on Business and Management Dynamics (ICBMD), Edition 1

The entrepreneurship of refugee women plays a crucial role in promoting economic development and alleviating poverty in both countries of origin and host countries. In South Africa, despite their significant contributions to socioeconomic advancement, these women face numerous challenges, including restricted access to appropriate identity documentation, financial resources, and essential services required to engage in the labor market. This study aims to explore the impact of the entrepreneurial skills of Congolese refugee women on economic development within the KwaZulu-Natal Province. Employing the PRISMA approach, a thorough search strategy was utilized to identify relevant studies published in English that examine the entrepreneurial skills of Congolese refugee women in KwaZulu-Natal. This was achieved through databases such as Scopus and Web of Science, focusing on peer-reviewed articles published between 2014 and 2024, utilizing keywords such as “Congolese refugee women” and "refugee women entrepreneurship," combined using Boolean Operators (AND, OR) for quality assessment, data extraction, and synthesis. The findings indicate that entrepreneurial activities empower refugee women, thereby alleviating poverty and contributing to economic development in their host countries. The economic contributions of Congolese female entrepreneurs in South Africa could be significant, particularly with the implementation of gender-responsive policies and the provision of valid identification documents. Such initiatives would not only enhance their well-being but also support the overall economic growth of the province. It is imperative to develop and implement government policies that are sensitive to gender, and aimed at offering the necessary support to refugee women for the economic development of their host country. Policymakers must establish a framework that promotes equitable access to economic opportunities for women entrepreneurs and migrants in South Africa.

 

Author (s) Details

 

Ka Muzombo Kandolo
Department of Entrepreneurial Studies and Management, Durban University of Technology, Durban, 4000, South Africa.

 

Musawenkosi Ngibe|
Department of Information and Corporate Management, Durban University of Technology, Durban, 4000, South Africa.

Please see the book here:-  https://doi.org/10.9734/bpi/mono/978-93-49238-53-4/CH11

Trend in Economic Performance and the Financial Flow into the Economic Sectors in Ethiopia during 2011-2020 | Chapter 6 | Contemporary Research in Business, Management and Economics Vol. 5

This chapter attempted to analyse the trend in economic performance and the financial flow into the economic sectors in the country. Over the past ten years, the Ethiopian government has prioritized economic development and the reduction of poverty. The nation is among the poorest in sub-Saharan Africa, yet throughout the same decade, the government has released conflicting reports about its rapidly expanding economy—double digit and incremental growth, respectively. Developing countries are mainly marked by agricultural economies, where food self-sufficiency is always an issue. Poverty is a common phenomenon in these countries and economic dependency on developed countries is inevitable to escape poverty. On the one hand, government reports have indicated that the country is economically one of the fastest growing in Africa, a position that has been seconded by international financial institutions and other bilateral donors. On the other hand, the country remains on the list of poorest countries in the world. A qualitative approach was applied in analysing the reported data on economic performance in the country from 2011-2020. The GDP measure in Ethiopia during the past decade decreased from 11.39 in 2011 to 6.06 in 2020. The trend in specific economic sectors was decreasing with little progress in specific poverty indexes in the economic sector. There were marked inequalities between urban and rural areas in the country. The performance in water supply, electricity power provision and road networking in the country showed sluggish progress. The projected shift from an economy driven by agriculture to one driven by industry and services did not materialize. The nation kept depending on foreign aid to help reduce poverty, and throughout the last ten years, there has been a shifting trend in the amount of aid received. The study's findings suggest that accurate reports on the nation's economic success that use particular poverty indexes should be published. In order to attain goals for economic development and poverty reduction, it is also imperative that attention be paid to internal capabilities rather than depending too much on outside assistance.

Author(s) Details:

Tagese Helore Lamore,
Development Studies, University of Gondar, Ethiopia.

Please see the link here: https://stm.bookpi.org/CRBME-V5/article/view/14185

Revolutionizing Urban Growth: Exploring Novel Theories and Models for Integrated Development of Industries and Cities (IDIC) | Book Publisher International

This book first provides an explanation of the connotation and concept of the development of industry-city integration. It then analyzes case studies of industry-city integration development in typical foreign cities outside of China. Following that, it compares China with other countries, analyzing the overall situation of industry-city integration development in China and comparing it with other countries. Finally, the book conducts specific analysis of case studies of industry-city integration development within China, and provides development needs and recommendations.

Author(s) Details:

Libin Guo,
Chongqing University of Education, China.

Please see the link here: https://stm.bookpi.org/RUGENTMIDIC/article/view/12825

Geopolitics of Oil in the Middle East and Its Implications for U.S. National Security | Chapter 2 | Recent Trends in Arts and Social Studies Vol. 9

 This item examines the impact of lubricate imports on U.S. national security, particularly an increasing reliance on petroleum resources from the Middle East and North Africa (MENA), a domain whose socio-political countryside is characterized by authoritarian regimes, governmental instability, and periodic confusion. This paper critically analyzes the extent to which the United States debris reliant on lubricate imports from the Middle East.  Moreover, it delves into the complexities that arise from reliance, especially place the suppliers are governments that do not align accompanying democratic ideals and place the potential for supply disruption looms best due to political upheavals. The authors decide that the only way to lighten the risks posed by this reliance is to reduce lubricate imports and to attain strength independence through the adoption of alternative and energy from undepletable source strategies.

Author(s) Details:

Nasser Momayezi,
Department of Social Sciences, Clayton State University, Morrow, GA-30260, USA.

R. B. Rosenburg,
Department of Humanities, Clayton State University, Morrow, GA-30260, USA.

Please see the link here: https://stm.bookpi.org/RTASS-V9/article/view/12114

Corporate Finance Practices and Digitalization in the Gulf Cooperation Council Countries: Challenges, Opportunities, and Future Directions | Chapter 4 | Current Topics on Business, Economics and Finance Vol. 6

 This member provides an survey of corporate finance practices in the Gulf Cooperation Council (GCC) countries. The episode reviews recent drama on the topic and argues the importance of allied finance in the economic development of the domain. It also tries the challenges faced by firms in the GCC nations and the ways at which point they have adapted to the changing trade environment. Corporate finance and digitalization have enhance two inseparable ideas in today's trade landscape. As digital science continues to progress, it has become more clear that companies that receive digitalization in their finance functions can achieve greater adeptness, accuracy, and cost stockpiles. This chapter will more explore few of the ways digitalization is transforming allied finance. The chapter decides with a conversation of the future of corporate finance in the GCC nations and the need for continued research in the field.

Author(s) Details:

Mohammed Abdul Imran Khan,
Department of Finance and Economics, Dhofar University, Salalah, Sultanate of Oman.

Meer Mazhar Ali,
Maharashtra Institute of Technology, India.

Shahebaz Sarfaraz Khan,
Dr Babasaheb Ambedkar Marathwada University, India.

Please see the link here: https://stm.bookpi.org/CTBEF-V6/article/view/10638

Study about Project Leadership in Nigeria: Panacea for National Economic Development | Chapter 10 | New Innovations in Economics, Business and Management Vol.1

 To demonstrate the people who should be in charge of project execution and to investigate the role of project leadership in Nigeria's economic development. Nigeria has an abundance of natural and human resources. It's perplexing to hear that countries with a single source of resources or endowments have an advantage over those with a diverse set. It's a result of self-gratification, or individuals pursuing their own personal interests, and it's linked to poor leadership. This article looks at the link between project leadership and national economic development and productivity in Nigeria. The study explains how leadership and human management, with their unlimited power of wants and needs, play a key role in fund allocation, as well as how productivity and project execution. Why, with so many human and natural resources, do we still have infrastructural deficits, no developmental projects, a people's mindset that opposes national progress, rising unemployment and insecurity, power outages, and finally, a consuming nation? Project managers or a leader who possesses the traits or potentials of a project manager may be the people who can design a practical and suitable system. The study focuses on Nigeria's primary concerns and the role of excellent project leadership in overcoming these problems. The distinctions between a project manager and a project leader are the paper's key conclusions. The report states that if the project managers' system is implemented and handled, Nigeria will become the world's top economy, particularly in the area of developmental projects for productivity and effective management.

Author(S) Details

I. J. Akpanebu
Department of Quantity Surveying, Akwaibom State Polytechnic, Ikot Osurua, Ikot Ekpene, Nigeria.

T. S. Olu-Gbo
Department of Project Management and Technology, Federal University of Technology, Owerri, Nigeria.

View Book:- https://stm.bookpi.org/NIEBM-V1/article/view/4388

Study on the Role of Environmental Impact Assessment (EIA) in National Economic Development in Nigeria | Chapter 9 | New Innovations in Economics, Business and Management Vol.1

 The Enron scandal caused a Wall Street fraud crisis that shook the market to its core in 2001, immediately after the Asian crises of 1997-1998, the DotcomBubble, and 9/11. Since then, scandals such as those involving Lehman Brothers and WorldCom in 2007-2008, as well as the Great Recession, have surpassed it, however Enron remains one of the most major accounting fraud cases. Despite the fact that the financial sector had been highly regulated by the early 2000s, energy deregulation allowed corporations to speculate on future prices. At the height of the dotcom bubble, Enron was heralded as a star invention, but as the bubble broke, Enron's plan to build high-speed internet failed, and investors began to lose money. Furthermore, the financial losses of the activities were concealed by using market to market accounting rather than book value, as well as special purpose organisations to conceal debt. The root of the problem was shown to be a corporation with a poisonous corporate culture that prioritised officer salary over social responsibility, resulting in poor leadership. Is it feasible, then, that when money rises in a 'irrationally exuberant' era, ethical accounting methods, social responsibility, and ethics all become poorer goods? This study also speculates on the potential that ethics, social responsibility, and ethical accounting are inferior commodities, citing evidence from business cycles and financial crises.

Author(S) Details

I. J. Akpanebu
Department of Quantity Surveying, Akwaibom State polytechnic, Ikot Osurua, Ikot Ekpene, Nigeria.

T. S. Olu-gbo
Department of Project Management and Technology, Federal University of Technology, Owerri, Nigeria.

View Book:- https://stm.bookpi.org/NIEBM-V1/article/view/4386

The Impact of Agricultural Output on Economic Development in Nigeria (1986-2014): An Empirical Examination | Chapter 20 | Current Approaches in Science and Technology Research Vol. 10

 Using annual time series data from 1986 to 2014, this research empirically assessed the impact of agricultural output on economic development in Nigeria. Agricultural output (AOUT) and public agricultural expenditure explained economic progress as measured by per capita income (PCI) (PXA). Agriculture's contributions to economic growth can be studied by looking at the sector's functions in the economy. The Augmented Dickey-Fuller Unit Root test and the Vector Autoregressive model were used in the research. The multivariate VAR model revealed that the majority of the variables' lags are not significant. The high level of R2 and F value in the VAR regression estimations for PCI, on the other hand, provided persuasive evidence that all the lagged variables are statistically significant, showing that agriculture plays a key role in Nigeria's economic development. A variance decomposition study found that, aside from feedback shocks, shocks to agriculture contributed the most to economic development shocks. The impulse response function results in support of the variance decomposition analysis showed that per capita income responded positively to shocks in agricultural output over a ten-year period, whereas the response of PCI to shocks in PXA was negative for the first two years but became positive over the last eight. As a result, we came to the conclusion that agriculture is helpful and plays an important role in the Nigerian economy's development. As a result, the government should continually raise spending in the sector and ensure that the Nigerian economy is diversified; in other words, crude oil should not be the primary source of revenue. In addition, the Nigerian government should encourage financial institutions to allocate a set percentage of their overall loan facilities to the agricultural sector in order to improve food security, job creation, and poverty reduction, among other things.

Author (s) Details

Abula Matthew
Department of Economics, Faculty of Social Sciences, Kogi State University, Nigeria.

D. Ben Mordecai
Department of Economics, Faculty of Social Sciences, Kogi State University, Nigeria.

View Book :- https://stm.bookpi.org/CASTR-V10/article/view/2350

Economic Development and Small Businesses in Japan | Chapter 11 | Insights into Economics and Management Vol. 12

 Because of World War II, Japan's economy lost the majority of its industrial production force. Japan, on the other hand, saw fast economic expansion from 1955 onwards, eventually joining the group of the world's most developed countries in the early 1970s. From 1955 through the early 1970s, the United States experienced a period of rapid economic growth. There are differing viewpoints on the mechanisms that enabled Japan to achieve such high economic growth, dubbed the "Economic Miracle." It is possible to say that Japan's postwar economic progress was founded on technological innovation and financial assistance from the United States. which established Japan's place in the global economy, bank loans, and the entrance of foreign technology It goes without saying that the "The high expansion of postwar Japanese capitalism was not achieved solely by large corporations. On the contrary, it would have been difficult to accomplish such tremendous development without small firms, particularly in their positions as subcontractors, which has attracted international attention." (Nomura, 126; 1981) The goal of this essay is to clarify the function of small enterprises in the economic development process.

Author (S) Details

Katsuhiko Hirasawa
Nihon University, Japan.

Pei Xiong
Nihon University, Japan.

Yutaka Takakubo
Nihon University, Japan.

Jin Yu
Hohai University, China.

View Book :- https://stm.bookpi.org/IEAM-V12/article/view/2077

A Methodological Exploration for Estimating Economic Effectiveness of Economic Infrastructure | Chapter 11 | Modern Perspectives in Economics, Business and Management Vol. 1

 Economic development necessitates the construction of economic infrastructure. To this purpose, the theoretical underpinning for measuring the efficacy of economic infrastructure must be revealed, as well as the methodology for estimating the effectiveness must be established. There have been a number of qualitative and quantitative research that look into the economic impact of infrastructure up until now. However, it's hard to conclude that a methodology for assessing such effectiveness has been agreed upon. The purpose of this essay is to address methodological issues that arise when measuring infrastructure effectiveness in terms of economic, physical-value, and spatio-temporal factors. The paper's first section looks at theoretical issues with estimating the effectiveness of economic infrastructure. The authors do this by analysing previous studies on economic infrastructure as an economic notion and then systematising its specific features and roles in a novel method. The major metrics and technique for measuring the efficacy of economic infrastructure are presented in the second section. In this part, the authors provide a methodology for measuring the space-time effectiveness of economic infrastructure by using several indicators linked to physical and value aspects. The findings show that economic infrastructure's contribution to the economy is linked to its economic effectiveness; however, the economic contents of these concepts are not the same, so it's more reasonable to estimate economic effectiveness using a benefit-to-cost approach rather than a functional approach. This research could help governments and investors make better decisions about infrastructure spending.

Author (S) Details

Gwang-Nam Rim
Statistics Department, Faculty of Economics, Kim Il Sung University, Democratic People’s Republic of Korea.

Chol-Ju An
Foreign Trade Department, Faculty of Economics, Kim Il Sung University, Democratic People’s Republic of Korea.

View Book :- https://stm.bookpi.org/MPEBM-V1/article/view/2026

Tourism and Development in the Senian Context in Aruba: Does It Help or Hurt SIDS? | Chapter 9 | Modern Perspectives in Economics, Business and Management Vol. 1

 Since the closure of its oil refinery in 1986 and the recognition of Aruba's status within the Dutch Kingdom, tourism development has been a vital role in the island's economic growth. Many tiny island independent states and those classified as small non-independent jurisdictions (SNIJs), such as Aruba, rely heavily on tourism. The purpose of this article is to investigate whether and how tourism aids or hinders island development. The economic repercussions of tourism have been researched around the globe; however, we chose to focus on one destination, Aruba, and contextualise our findings by comparing them to other Caribbean islands. This is because tourism is more essential to the Caribbean in terms of economic dependency and tourism intensity. Aruba is an attractive case study because of its high tourism density and mono-economical development paradigm. 1 Our method is based on an ontological investigation of the relationship between tourism and economic development, which uses a contextualised understanding of development in line with Amartya Sen's philosophical perspective. In that setting, prosperity was measured not just in terms of GDP growth, but also in terms of better social welfare for its population and distance from Senian unfreedom. For the sake of this article, unfreedom is defined as the inability to shift paradigms despite the fact that the current paradigm promotes vulnerability, fragility, and limits options for its population. As a result, despite its economic impact in terms of foreign cash, investments, and jobs, tourism has considerable and widespread externalities that should be included when considering the total impact of tourism on economic and social development.

Author (S) Details

Don Taylor
University of Aruba, Oranjestad, Aruba.

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