scholarly journals Air traffic will take years to return to 2019 levels

Significance However, it remains uncertain how evolving measures to curb the spread of COVID-19 will affect their operations, how long it will take for consumer confidence to recover, and perhaps most importantly, whether the average of two months' cash reserves airlines had going into this crisis will see them through it. Impacts Aviation suppliers including airports and aircraft manufacturers are forecast to suffer heavy losses. The world recession will hit consumer and business confidence, and disposable incomes, slowing the passenger and cargo traffic recovery. The UNWTO sees world tourism sales falling by 73% this year, hitting the many nations that rely on tourism as a key engine of GDP growth.

Subject Germany’s trade surplus. Significance Germany runs a large trade surplus with other euro-area countries and the rest of the world. Critics have argued that wages in Germany have not increased enough in recent years and that the country should boost domestic demand. However, trade and wage developments with other euro-area countries show that such criticism is largely misguided. Impacts Germany’s offshoring of production processes helps boost GDP growth in countries such as Slovakia and the Czech Republic. Creating a more innovation-friendly environment and investing in R&D would lift the long-term growth potential of the euro-area. Completing the digital single market could contribute to more innovation across the EU.


2018 ◽  
Vol 1 (1) ◽  
pp. 74-95 ◽  
Author(s):  
Richard B. Freeman

PurposeThe purpose of this paper is to examine the likely impact of AI robotics technology on the labor market through the lens of comparative advantage.Design/methodology/approachThe first section reviews the recent success of AI in outperforming humans in cognitive intense activities such as Go, poker and other strategic games, which portends a shift in comparative advantage in human brain power work to machines. It notes the potential for a portfolio of specialized computer algorithms to compete with human general intelligence in work. The analysis contributes to the debate between economists dubious about claims that AI robotics will disrupt work and futurists who expect many jobs to be fully automated in coming years. It advances three “laws of robo-economics” to guide thinking about the new technologies and presents evidence that growing robot intensity has begun to impact the job market.FindingsThe paper finds that the case for AI robotics substantially changing the world of work and the distribution of income is more compelling than the case that it will have similar impacts on wages and employment as past technological changes. It advances an ownership solution to spread the benefits of AI robot-driven automation widely.Originality/valueTo the extent that who owns the robots rules the world, it argues for a concerted social effort to widen the “who” in ownership from the few to the many. It reviews policies to expand employee ownership of their own firm and of the stream of revenue via profit-sharing and gain-sharing bonuses. But the paper notes that ensuring that growth of AI robotics benefits all through ownership will require expansion of workers’ and citizens’ stake in business broadly, through collective investment via pension funds, individual investment in mutual funds and development of sovereign wealth funds.


2019 ◽  
Vol 8 (4) ◽  
pp. 7904-7909

There is vigorous growth of air traffic in India in the last decade. The passenger air traffic has increased by more than 10 per cent annually during this time. As per the report of Airbus Global Market Forecast (2016-35), domestic air traffic in India is supposed to increase by fivefold in coming decade. The air traffic movement is also increasing at rapid rate globally which is increasing at the rate of 5.7 % per annum in the last decade whereas the World GDP growth in the corresponding period was only 2.6%. The passenger transport in the last decade has increased by 1.47 billion at the global level. As per the report of International Civil Aviation Organization (ICAO), India has experienced a double digit growth rate of 15.7 per cent in passenger traffic and 9.0 per cent growth rate in freight traffic which is much higher than GDP growth rate of India. The heavy air traffic in India is evident from the India’s revenue passenger km which is 13th in the World with 140.4 billion. This entails creation of air traffic infrastructure for smooth movement of traffic in India. The constructions of modern airports and expansion of existing airports are important addition to air traffic infrastructure. The concept of airport cities or aero city imply development of innovative business ideas within the designated area whose cost-benefits if taken into considerations are more than the cost-benefits of its counterpart in the central business district. Major airports in India such as Delhi, Mumbai, Kolkata and Chennai, Hyderabad and Ahmedabad etc. are growth and employment drivers of Indian economy in aviation sector. There are direct, indirect and induced effects on income and output. However, the calculations are complex as it is related with backward calculation of and calculation of input-output analysis. Further all the airports do not generate the same output and employment. In some airport employment increases but output do not increase simultaneously. As a global practice, the increase in airport infrastructure requires a study of its feasibility in a cost-benefit format. This is carried out in terms of financial and economic viability study. In this study, we have carried out an economic and financial analysis of three major airports in India such as Chennai, Kolkata and Ahmedabad airports for twenty years’ time period. In the cost stream, we have considered capital expenditure and on the benefits side the increase in income, employment, outputs in terms of direct, indirect, induced and catalytic terms. An attempt has been made to measures all these benefits against the cost streams through an economic and financial analysis. The feasibility of investments in airport infrastructure has been calculated in a cost-benefit format to find out the internal rate of return. The robustness of the investment has been tested by carrying out a sensitivity analysis at an increasing cost and decreasing benefits conditions and vice-versa. The calculated IRR both economic and financial are well above the 12 per cent as per the guidelines of Asian Development Bank.


Significance Strong GDP growth projections (8.5% in 2015, according to the World Bank) and positive sentiment towards President Alassane Ouattara's pro-business government will ensure strong demand, though this confidence may soon diminish. Impacts Ivory Coast's decision to close its borders during the Ebola crisis could undermine its regional leadership ambitions. This will be further complicated by its provision of refuge for ousted Burkina Faso leader Blaise Compaore who may face extradition. Abidjan's role as a coastal supply base for French troops in the region means Ivory Coast's strategic importance to France will persist.


Subject Remittances. Significance Remittances represent a crucial inflow of hard currency for many countries in Latin America. Mexico stands out as the fourth-largest recipient in the world, while in several Central American countries, remittances are even more important with respect to economic variables such as GDP or exports. With the vast majority of the region’s remittance inflows coming from the United States, the election of President Donald Trump in November has raised concerns for many countries whose economies rely heavily on the inflow of expatriate dollars. Impacts Amid low economic growth, remittances will represent an important element to alleviate poverty in Mexico. Any significant disruption to remittance flows would have a severe impact on consumption and GDP growth in Central America. As US unemployment falls, foreign-born workers will see wages go up in sectors with tight labour markets, boosting remittances


Author(s):  
Apurba Roy ◽  
Mohammed Ziaul Haider

Purpose The purpose of this study is to investigate the impact of climate change on economic development in Bangladesh. More specifically, the research aims to figure out the influence of climate change on gross domestic product (GDP) growth rate related to different sectors such as agriculture, forest, water, health and infrastructure. It also attempts to explore the effect of climate change on the coastal economy of Bangladesh. Design/methodology/approach A set of statistical and econometric techniques, including descriptive and correlation analysis and time series regression model, was applied to address the objective of the research. Sector-wise time series economic data were collected from the World Bank for the period between 1971 and 2013. Climate data were received from the Bangladesh Agricultural Research Council online database for the period between 1948 and 2013. Findings The results from the statistical analysis show that climate variables such as temperature and rainfall have changed between 1948 and 2013 in the context of Bangladesh. The econometric regression analysis demonstrates that an increase by 1°C of annual mean temperature leads to a decrease in the GDP growth rate by 0.44 per cent on average, which is statistically significant at the 5 per cent level. On the other hand, the estimated coefficients of agriculture, industry, services, urbanization and export are positively associated with GDP growth rate, and these are statistically significant at the 1 per cent level. Sector-wise correlation analysis provides statistical evidence that climate change is negatively associated with various sectors, such as agriculture, forest, human health and arable land. In contrast, it has a positive relation to water access and electricity consumption. Analysis of coastal regions shows that climate change negatively affects the local economic sectors of the coastal zone of the country. Originality/value Although this study has received significant insight from the world-renowned research publication “The Economics of Climate Change: The Stern Review”, there is a dearth of research on the economic impact of climate change in the context of Bangladesh. The findings of the paper provide deep insight into and comprehensive views of policy makers on the impact of climate change on economic growth and various sectors in Bangladesh.


Subject Central Europe’s car industry. Significance The uncertainty surrounding US foreign trade policy has created headwinds to growth for Central Europe (CE) and its automotive sector, even though CE auto exports are highly concentrated on the EU, and CE has only limited trade exposure to the United States. Business and consumer confidence is patchy among some of the fastest-growing economies in the region, such as Poland. Impacts CE auto production will be an important driver of economic growth in 2018-19; Slovakia has the highest per capita auto production globally. Robust GDP growth should help partly offset declines in business or investor confidence in the short term. However, the worsening price competitiveness of the car industry will be a concern.


Significance The NBP’s March Inflation Report lowers its forecast for average CPI significantly to 1.7%, from 3.2% in its November forecast; GDP is to grow by 4.0% (November: 3.6%). Outside Poland, a CPI spike will further dampen consumer confidence in Central Europe (CE). Impacts GDP performance in 2019 will be patchier in some countries, but CE will remain one of the EU’s fastest-growing regions. While CE’s growth model will remain tilted towards the demand side, the construction boom will support expansion, especially in Hungary. CE-EU tensions, as Article 7 proceedings continue against Poland and Hungary, could dampen business confidence. Fiscally expansive policies in Poland and Hungary will lead to fiscal deterioration, but deficits will stay under the EU’s 3% of GDP limit.


2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Haider Muthnna Almoatasm

Purpose This paper aims to scrutinize some determinants that affect the functions and roles of contemporary parliaments. In particular, such parliaments attempt to involve in new areas that were not represented in parliamentary study and to play new roles in the areas of development, diplomacy, the establishment of post-conflict peace rules and achieving the objectives of the sustainable development. The study found that the most important determinants affecting the new roles of contemporary parliaments are the constitutional and legal frameworks. Design/methodology/approach This paper adopts three basic methodologies so as to reach some applicable scientific findings that can be generalized. The researcher has used the descriptive methodology, to shed light on the parliament’s various activities and new roles and to take note of the many surrounding factors and available dimensions that enable parliaments to perform such roles. The researcher has also used the comparative methodology, to study parliaments with a view to identifying their roles in a way that includes their similarities and dissimilarities and the possibility of generalizing the outputs. Findings The paper has reached many findings, the most important of which are: first, the need to present appropriate amendments to the constitutions to give space to parliaments to play more effective and influential roles. Second, the internal regulations of parliaments must be in line with the attitudes and aspirations of the parliament and its members, giving appropriate cover for playing new roles in various areas. Research limitations/implications This study has found that contemporary parliaments can play new roles in various fields, whether internal or external and in different sectors as well, as a result of the great developments and complexities introduced around the world. Such developments and complexities have cast a shadow on governments and affected their abilities in dealing with the issues immediately because of the enormous challenges in addition to the ongoing developments occurring to the legislative systems in the world, at the technical level of the departments and secretariats of contemporary parliaments or for members of Parliament and the institution as a whole. Practical implications The new roles of contemporary parliaments have been affected by the determinants of the research, which are the constitutional framework, the legislative framework, the relationship between Parliament and civil society and the relationship between Parliament and the government. These factors cast a shadow over the expansion or contraction of the attempts of modern parliaments to play new roles. Social implications This study has found that contemporary parliaments can play social roles in various fields of a social nature, which is find solutions to the problems experienced by societies emerging from civil wars, which need national reconciliation, for example, the reconciliation of the ethnic tribes carried out by the Iraqi council of representatives between the local tribes to resolve the internal problems, in addition the role of Borondian council by it is trying end the conflict between the tribes of Hotsi and Tutsi. Originality/value The importance of the study stems from the fact that it focuses on the most important determinants of the new roles of contemporary parliaments that may be conducted outside the traditional framework of the parliament's study of legislation and supervision. Such contemporary parliaments have played new roles that take the form of political, economic, social, humanitarian, diplomatic and environmental works and other works concerned with the climate and their attempts to end internal and external conflicts and disputes.


Author(s):  
Richard Bloss

Purpose – This paper aims to review the dramatic entry of robotics into the field of agriculture. Design/methodology/approach – Research of efforts around the world to apply robots to agricultural needs and participation in webcasts of the latest in agricultural robotic development projects. Findings – Robots are enabling many new and innovative methodologies for performing traditional agricultural tasks of all types. Providing saving in labor, improved performance and faster field coverage. Practical implications – Readers may be very surprised at the many tasks that robots are already addressing in the agricultural field around the world and the way just applications can have major benefits to farming. Originality/value – A review of the wide range of the innovative application of robots to agricultural tasks worldwide.


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