Computational intelligence for measuring macro-knowledge competitiveness

The aim of this research is to investigate the utilisation of Computational Intelligence methods for constructing Synthetic Composite Indicators (SCI). In particular for delivering a Unified Macro-Knowledge Competitiveness Indicator (UKCI) to enable consistent and transparent assessments and forecasting of the progress and competitiveness of Knowledge Based Economy (KBE). SCI are assessment tools usually constructed to evaluate and contrast entities performance by aggregating intangible measures in many areas such as economy, education, technology and innovation. SCI key value is inhibited in its capacity to aggregate complex and multi-dimensional variables into a single meaningful value. As a result, SCIs have been considered as one of the most important tools for macro-level and strategic decision making. Considering the shortcomings of the existing SCI, this study is proposing an alternative approach to develop Intelligent Synthetic Composite Indicators (iSCI). The suggested approach utilizes Fuzzy Proximity Knowledge Mining technique to build the qualitative taxonomy initially, and Fuzzy c-mean is employed to form the new composite indicators

DEVELOPMENT OF COMPETITIVENESS INDICES FOR INDIGENOUS CONSTRUCTION FIRMS IN NIGERIA

Competitiveness of indigenous construction firms plays a vital role in the economic development of any nation. The significance of competitiveness to economic development lies in the fact that it increases the level of profits earned by indigenous construction firms, thereby contributing to a nation‟s Gross Domestic Product (GDP). However, foreign construction firms dominate the Nigerian construction market on account of managerial and technological capabilities in which foreign construction firms have a significant comparative advantage. This research, therefore, aimed at developing a set of indices which can be used as a benchmark for evaluating the competitiveness of indigenous construction firms in Nigeria. The study adopted a quantitative research design. Questionnaire was used to elicit information from indigenous construction firms registered with the Nigerian Institute of Building (NIOB). Data obtained from the survey were analyzed using bar charts, tables, ranking analysis and correlation. Competitiveness indices were developed by means of the „weighted summation‟ a statistical tool for evaluating multi-criteria concepts. Forty significant competitiveness indices were developed in this research. The five most significant competitiveness indices for indigenous construction firms in Nigeria were: effectiveness of cost controlling methods, effectiveness of site management, method of procurement, effectiveness of time controlling methods and client relationship. Finally, this study recommended that indigenous construction firms should allocate sufficient resources to the competitiveness indices developed in this study in order to increase their chances of winning more jobs and ultimately significantly bridge the gap between them and their foreign counterparts

A decision support methodology to enhance the competitiveness of the Turkish automotive industry

This is the post-print (final draft post-refereeing) version of the article. Copyright @ 2013 Elsevier B.V. All rights reserved.Three levels of competitiveness affect the success of business enterprises in a globally competitive environment: the competitiveness of the company, the competitiveness of the industry in which the company operates and the competitiveness of the country where the business is located. This study analyses the competitiveness of the automotive industry in association with the national competitiveness perspective using a methodology based on Bayesian Causal Networks. First, we structure the competitiveness problem of the automotive industry through a synthesis of expert knowledge in the light of the World Economic Forum’s competitiveness indicators. Second, we model the relationships among the variables identified in the problem structuring stage and analyse these relationships using a Bayesian Causal Network. Third, we develop policy suggestions under various scenarios to enhance the national competitive advantages of the automotive industry. We present an analysis of the Turkish automotive industry as a case study. It is possible to generalise the policy suggestions developed for the case of Turkish automotive industry to the automotive industries in other developing countries where country and industry competitiveness levels are similar to those of Turkey

Essays on international financial markets, firms’ capital structure and exporting decisions

International finance studies the dynamics in the areas such as international portfolio diversification, foreign investments, global financial systems, exchange rates, etc. This thesis brings together a set of chapters that summarises and synthesises varied areas of international finance maintaining a balance between the micro- and macro-level studies. This thesis is composed of three main empirical chapters contributing to varied aspects of international finance, mainly the areas of international portfolio diversification and home bias puzzle; development of bond markets and access to external finance; exchange rate uncertainties, output volatility and exports. Chapter 1 provides an outline and introduction of the thesis. Chapter 2 provides an extensive literature review on home-bias puzzle, explains the evolution and existence of home-bias puzzle, and gives various institutional and behavioural-based explanations which are considered as the main reasons for the existence of this puzzle. It discusses the advantages of international portfolio diversification and also the disadvantages of under-diversification in international portfolios. It gives a detailed empirical literature on the home bias puzzle and the relation between education and portfolio diversification. Further, this chapter empirically analyses a panel of 38 countries over a period of 2001-2010 to study the impact of different levels of education on home bias and international portfolio diversification. The results highlight that education is crucial in reducing equity home bias. After dividing the countries on the basis of their stock market capitalisation the results show that less developed countries with more university graduates have lower equity home bias. Finally, the results show that the benefits of education are larger during the recent financial crisis for the less financially developed economies. Chapter 3 provides a detailed analysis of the trends in Asian financial markets since the 1990s. It provides the main objectives of the Asian bond market policy initiatives. It also gives a detailed empirical literature of external finance, bond market development across the world and external finance-investment spending nexus. This chapter empirically analyses the impact of policy initiatives co-ordinated by Asian national governments on firms' access to external finance by using a unique firm-level database of eight Asian countries- Hong Kong SAR, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand over the period of 1996-2012. Using difference-in-differences approach and controlling for firm-level and macroeconomic factors the results show a significant impact of policy on firms' access to external finance. After splitting firms into constrained and unconstrained, using several criteria, the results document that unconstrained firms benefited significantly in obtaining external finance as compared to their constrained counterparts. Finally, the results show that the increase in access to external finance, after the policy initiative, helped firms to raise their investment spending, especially for unconstrained firms. Chapter 4 focuses on how exporting decision of firms are affected by volatility at the macro and micro levels, using a rich dataset of UK manufacturing firms for the period of 1990-2009. The results show that both types of volatility have an adverse impact on firms’ real export sales. After taking into account firm-level heterogeneity, the results show that the negative impact of exchange rate and firm volatility on exports is higher for constrained firms as compared to unconstrained firms. Further, this chapter considers the European Exchange Rate Mechanism (ERM) crisis of early 1990s and the global financial crisis of 2008. The results indicate that during the ERM crisis constrained firms face a significant adverse impact of exchange rate volatility on exports, while the impact of firm-level volatility is mostly insignificant. On the contrary, during the global financial crisis, constrained firms face a significant negative impact of firm-level volatility on exports and an insignificant impact of exchange rate volatility on exports. Finally, Chapter 5 provides the conclusion of the thesis highlighting the contributions, implications and future research avenues of each empirical chapter

TECHNOLOGY, DEVELOPMENT AND HAPPINESS IN A SPATIAL-ISLAND ECONOMY

When the title of this book, Technology, Development, and Happiness in a Spatial Island Economy, is exposed, the writer would like to analyze the correlation among the three key words in dealing with the development of islands countries, or it can be said in archipelago countries. It is understandable that in archipelago contries, there are some barriers in developing economy in every island. One of the visible barriers is demographic factors. Among islands must have straits, sea depths, natural disasters, people habbits and characters, weathers, and many more. Indonesia, for example, has about 17,000 islands from the west to the east, and from the north to the south. It is one of the islands countries in the world that has demographic factor which influence its economic growth. These demographic factors may make different development among them, one island may have better economy condition than the others. These different conditions may absolutely reflect to the condition of the islands country, in particular in its economy development of the country. Why economy? This has been agreed that a good economy condition of a country may reflect a good condition of a country. To look into the topic, this book describes about the importance of technology, development, and happiness of the economy condition in a spatial island economy. The writer organized the discussion into three parts, Spatial Island Economy, Technology and Economic Development, and Islamicity, Development and Happiness. Spatial Island Economy in Part I, discusses about Input-Output (IO) model for spatial economy analysis, a new hybrid procedure for spatial island economy, the essence of industrial sectors in Java Island in Indonesian economy, spatial dimension of economic multipliers in Sumatera, Java, Kalimantan, Nusa Tenggara islands, and eastern part of indonesia. Input-Output (IO) model for special economy analysis is said to be a model that does not only describe kinds, the agents, and the venues of economic activities, but it can also give analysis about direct impact, indirect impact, and induced impact. The IO is also can be used for analizing the sectoral interdependency and spatial interdependency that are common in spatial economy or islands countries. The writer tried to expose the GIRIOT ( Generation of Inter-Regional Input Output Tables) as a hybrid procedure of Island Economy. GIRIOT is dirived from GRIT III, a method developed by University of Queensland (West et.al 1989) and a technique developed by Boomsma & Oostenhaven 1992 called DEBRIOT (Double Entry Bi-Regional Input-Output Tables). Although the DEBRIOT is good only for economic deals with a two regions model, the writer tried to find out the possibility for the use in Indonesia with thousands islands. The other important breakdowns in this Part I are on the concentration of Industries in Java island and a look on the spatial dimension of economic multilpliers in many island areas in Indonesia. In Part II, the book talked on the relation of technology and economic development in spatial island economy that includes technology efficiency and return to scale. It also ranges from spatial, sectoral, and national perspectives, economic growth, poverty reduction, the role of technology, the existance of Philip Curve. Despite of the use of technology in economic development, the issues on the human development and the global human competitiveness are also important. The writer quoted a view from Streeten (1994) that development concerns expanding the choices people have, to lead lives that they value, and improving the human condition so that people have the chance to lead full lives. All of the factors the writer mentioned are very important to pursue economic welfare for people particularly people’s economy in spatial island country like Indonesia. Part III is giving us about the Islamicity that may create development and happiness for people in a spatial island economy. It is interesting that religion like Islam may also have a power to influence the economic development and happiness. The Islamic live is regarded to have a strong influence to the economic growth, human development and human happiness, and economic global competitiveness in spatial island country like Indonesia. The writer mentioned interesting issue that he tried to analyze the direct and indirect impact of Islam in global economic competitiveness. He quoted the world index of human being from 123 countries that the result showed the Islamicity has direct and positive impact to the economic global comepetitiveness. Overall, this book describes and conveys some issues on the technology, development and happiness in a spatial island economy. There are many spatial island countries in the world including Indonesia, Japan, the Phillipines, Srilangka, Singapore, and many more. In particular, this book focuses on the economic condition in Indonesia. There must be differences in economy development in spatial island countries and the ones in land countries like China, India, USA, Australia, and some more. This book is very important and it is worth to learn by academicians in Indonesia and in other countries as well

Perspetivas multinível da competitividade: uma abordagem global, nacional e regional

A grande mobilidade do capital a nível internacional e o aumento do grau de abertura dos mercados nacionais são os principais motivos para que o tema da competitividade tenha sido alvo de uma extensa e intensiva discussão científica nas últimas décadas, potencialmente influenciadora das decisões empresariais e governamentais. A comunidade científica tem estabelecido diversas abordagens conceptuais e terminológicas para estudar o comportamento da competitividade, pelo que até o próprio conceito de competitividade é alvo de aceso debate. Esta Tese tem como objetivos analisar a competitividade a dois níveis, nomeadamente ao nível regional e ao nível nacional. Os objetivos gerais desta Tese são: (1) Realizar um mapeamento das publicações científicas, estrutura intelectual e tendências de investigação relacionadas com a competitividade das nações e regiões; (2) Analisar os fatores determinantes da competitividade de um país e analisar a competitividade da economia portuguesa comparativamente aos países da União Europeia, aos países com programas de ajustamento (Grécia e Irlanda) e em termos globais; (3) Analisar as relações entre os fatores da competitividade nacional para todos os países incluídos no Global Competitiveness Index e para os países da União Europeia, bem como a determinação dos fatores que têm uma maior preponderância na competitividade de um país; (4) Determinar um índice de competitividade das regiões portuguesas (NUTS III), calcular índices para os fatores que compõem essa competitividade regional e efetuar uma caraterização da taxonomia da mesma. Os resultados revelam que existem essencialmente três abordagens na literatura de competitividade: (2) Clusters e Regiões; (2) Empresas; (3) Nações e Global. Alguns dos estudos de Porter são marcantes e fulcrais nesta temática. Os fatores mais importantes para a competitividade global são a competitividade microeconómica de um país, bem como as suas infraestruturas sociais e instituições políticas, a educação, a tecnologia disponível e a inovação. Em relação aos fatores que influenciam a competitividade das nações, observou-se efeitos causais entre os mesmos que potenciarão a competitividade por efeitos diretos e indiretos. Em termos de competitividade da economia portuguesa, observaram-se bastantes limitações face aos países da Zona Euro e da União Europeia. Ao nível nacional a Área Metropolitana de Lisboa é a mais competitiva, e pelo contrário as menos competitivas são as NUTS Viseu Dão-Lafões e Serra da Estrela - Beira Interior.The high mobility of capital internationally and the increasing openness of national markets are the main reasons for the competitiveness of the issue has been the subject of an extensive and intensive scientific discussion in recent decades, potentially influential of business and government decisions. The scientific community has established a number of conceptual approaches and terms to study the behavior of competitiveness, so even the very concept of competitiveness is the subject of heated debate. This thesis aims to analyze the competitiveness at two levels, namely at regional and national level. The general objectives of this Thesis are: (1) Conduct a mapping of scientific publications, intellectual framework and research trends related to the competitiveness of nations and regions; (2) analyze the determinants of competitiveness of a country and analyze the competitiveness of the Portuguese economy compared to European Union countries, countries with adjustment programs (Greece and Ireland) and overall; (3) To assess the relationship between the factors of national competitiveness for all countries included in the Global Competitiveness Index and the countries of the European Union as well as the determination of the factors that have a greater influence on the competitiveness of a country; (4) determine a competitiveness index of the Portuguese regions (NUTS III), calculate indices for the factors that make up this regional competitiveness and make an taxonomy of characterization of it. The results reveal that there are essentially three approaches in the competitiveness literature: (2) Clusters and Regions; (2) businesses; (3) Nations and Global. Some d0s Porter studies are outstanding and this central theme. The most important factors for global competitiveness are the microeconomic competitiveness of a country and its social infrastructure and political institutions, education, available technology and innovation. Regarding the factors influencing the competitiveness of nations, there was a causal effect between them that will promote competitiveness through direct and indirect effects. In terms of competitiveness of the Portuguese economy, there were many limitations compared to Eurozone countries and the European Union. At the national level the Lisbon Metropolitan Area is the most on the contrary the least competitive are the NUTS Viseu Dão-Lafões and Serra da Estrela and Beira Interior

Smart specialisation for regional economic transformation

The aim of this paper is to provide a quick yet comprehensive understanding of the nature and logic of smart specialisation as a place-based strategy for economic transformation and development. The origin and characteristics of the smart specialisation approach in the European Union are presented together with the main challenges for a successful implementation. Smart specialisation is about identifying and pursuing sub-sectoral and inter-sectoral activities, which can be explored by existing but also new entrant firms, where technology can facilitate either radical innovation, or the incremental utilisation of existing skills/strengths in new niches, fostering regional and national technology-savvy economic transformation. Stakeholder involvement through an entrepreneurial discovery process is a defining feature of this approach.JRC.J.2-Knowledge for Growt