Indebtedness Among Farmers in Haryana State, India

Subject and purpose of work: The study aims to assess the nature, extent and sources of debt and the measures of the burden of debt on farmers. Materials and methods: The study was based on primary data collected (by field survey) from a sample of 600 farmers selected from Haryana state in India. With regards to the selection of farmers/respondents, a proportionate sampling technique was employed. For the analysis of the collected data, average (or mean value) and percentage techniques were used. The data were collected in January, February and March, 2021. Results: The study revealed that the average amount of debt per sampled farmer is 563 960 rupees. This amount of debt is very high. Institutional sources played a major role in loan disbursement to farmers. Of the total amount owed, one third of all the debt was incurred from non-institutional sources at a higher rate of interest; 67.03% was incurred for productive purposes and the remaining 32.97% of debt was incurred for non-productive purposes. Non-productive debt adds nothing to agricultural production. 67% of all farmers in the state belong to marginal and small farm-size category. Thus, at small size of land holdings, at higher rate of interest charged by non-institutional sources and non-productive loans are the main cause of farmer indebtedness. Conclusions: Farmers have been trapped under the burden of debt and are not in a situation to pay their loans back within the prescribed period of time.

The Growth Performance of Selected Spice Crops in Haryana State

Subject and purpose of work: The study aims to evaluate the growth performance of spice crops in Haryana state of India. Materials and methods: The study is based on secondary data obtained over the period of 17 years i.e., from 2001-2002 to 2017-2018. Four spice crop – ginger, turmeric, garlic and fenugreek were selected from rabi and kharif season on the basis of the largest area sown. In order to analyze the data descriptive statistics (mean and C.V.) and CGR (compound growth rate) were employed. Results: T he s tudy r evealed a significant p ositive g rowth r ate o f 2.20%, 4.50% and 2.20% in the area, production and productivity of ginger in the district of Panchkula, respectively. In the district of Yamunanagar, a growth rate 13.80% and 10.20% was found in the area and production of turmeric. However, a negative productivity growth rate of -3.20% was also revealed. A positive growth rate 1.50%, 3.30% and 0.17% was found in the area, production and productivity of garlic in Karnal district. In the district of Yamunanagar, a growth rate for fenugreek of 7.30% and 7.60% and 13.90% in the area, production and productivity was found. The state of Haryana recorded a significant growth of 1.7%, 2.8% and 1.1% per annum in the area, production and productivity of spice crops respectively. Conclusions: T he s tudy r evealed a positive g rowth rate across all the selected spice crops, indicating improving prospects of spice crops in Haryana state.

Lease Price Differentiation and its Influence on the Attraction of Micro, Small and Medium Enterprises’ (MSMES) to Major Shopping Malls in Zambia

Subject and purpose of work: Based on community-wide charges that shopping malls discriminate against small business tenants, this paper seeks: firstly to identify the principal determinants of shopping mall rentals, and secondly to understand if there exists a statistically significant dispersion in rentals against MSMEs. Materials and methods: Relative Importance Index and SPSS (statistical tests) were used to analyze the survey-based data which was acquired from eleven shopping malls in Lusaka. Results: The MSME tenants pay on average $20.32/m2 more t han anchor tenants and $19.12/m2 more than chain stores, ironically on account of capital limitations. MSMEs also face an additional risk during sudden economic shocks due to untenable lease provisions and poor negotiating influence. Conclusions: The study concludes by acknowledging that the MSME sector is covertly vitiated by the imposition of high rental premiums. It recommends that shopping malls should have an affirmative simpler letting policy. Furthermore, a shopping mall association should-be commissioned to exclusively safeguard the interests of MSMEs.

Borderland Location as a Factor of the Development of the Terespol Commune

Subject and purpose of work: The aim of the study was to determine the significance of the borderland location as a factor in the development of the Terespol commune. The paper answers the questions how the borderland location is perceived by the inhabitants, whether it gives an opportunity for the development of the Terespol commune, and what is the significance of the borderland location compared to other factors in the commune’s development. Materials and methods: The study uses the method of a survey with a representative sample of 50 inhabitants of the Terespol commune. The literature on the subject related to the factor of the borderland location and its role in local development as well as planning documents concerning the development of the commune were investigated. The analyzes were supplemented with a review of official statistical databases describing economic activity in the commune. The time scope of the research covers the years 1990-2021. Results: In the light of the research, the borderland location is the leading factor in the development of the commune, and keeping it on the current development path and the growing significance of this factor may increase the chance of building a “New Silk Road”. Other development potential are rich natural and landscape values which favour the expansion of tourism and agriculture. The potential of the local community – residents, local entrepreneurs, and local government – is assessed as low. In the opinion of the inhabitants the potential of the location is also not fully used. Conclusions: The commune’s potential should be used in the development of additional production specialties, its multifunctionality and better adaptation to new socio-economic conditions resulting from the economic transformation and the challenges of increasing competitiveness. It is necessary to activate other functions and factors, whose significance has decreased over the years, including human capital activation. A fuller use of the commune’s potential should be based to a greater extent on the participation of the local community.

Axiomatic Formulation of the Optimal Transaction Cost Theory in the Legal Process Through Cobb-Douglas Optimization

Subject and purpose of work: This paper uses Cobb-Douglas optimization to formulate an optimal transaction cost algorithm within the constraint of a generalized legal framework. Materials and methods: The author has adopted a Lagrangian approach to formulate the social utility function, then, from a set of legally allowed strategies established the Karush-Kuhn-Tucker conditions for the legal game so as to find the optimal parameters within the social utility function. Finally, the optimal transaction cost algorithm was developed. Results: The Bordered Hessian Matrix from the partial differentials of the social utility function showed that there is a particular parameter within the social utility function which describes the optimal transaction cost. An adjustment of this parameter is essential in mechanism design for legal games. Conclusions: The author has shown how transaction costs influence the set of strategies played by players in a legal game, and has described the essence of a social utility function and how it can be optimized.

Risk of Investment in Cryptocurrencies

Subject and purpose of work: Cryptocurrencies are a phenomenon that has been strengthening its place in the world of finance for over ten years and which is becoming a frequent investment tool. The aim of this study is to compare the level of risk measures of investments in the cryptocurrency market with investments in global capital markets in 2011-2020. Materials and methods: The study used the quotations of the analysed instruments. The level of risk was estimated using standard deviation and semi-standard deviation of daily logarithmic rates of return. Results: Investment in cryptocurrencies is more risky than in shares of the largest international companies. The level of risk decreases with the duration of the cryptocurrency presence on the market. Conclusions: Achieving extraordinary rates of return generates an increased demand and volatility of cryptocurrencies’ quotations. The level of risk of investing in cryptocurrencies is much higher than in the indexes of global capital exchanges.

Poland in the European Union Single Market

Subject and purpose of work: This paper studies the process of integration of Poland in the EU Single Market. It makes use of official statistics from a wide range of institutions (IMF, OECD, Eurostat, and Statistics Poland) in order to define structural patterns, shedding light on the overall integration of the country with the rest of the world. Materials and methods: The results show the structural evolution of the Polish economy, mainly in terms of its integration process within the EU Single Market. Results: The Single Market has indeed provided an urge for Poland’s integration. Conclusions: Poland can so far be considered a success story in the process of integration in the EU Single Market.

Current State of the Sector of Modern Business Services in Lublin and Prospects for Development

Subject and purpose of work: The aim of the article is to define the current state of modern business services sector in Lublin and prospects for development against the background of the largest centers in the country. Materials and methods: Pursuing the main goal, the authors based their study on the literature on the subject, research reports on the market of modern business services and content from industry websites. The analysis covered several modern business service centers operating on the market, the structure of business processes, the level of employment and the level of local specialization of selected cities. Results: The sector of modern business services is developing intensively throughout Poland. Dynamic development is also taking place in Lublin. The city has the largest number of BPO, SSC, IT and R&D centers in eastern Poland. The workplaces in the sector is constantly growing. IT services currently have a particularly large share in the sales structure of Lublin centers. Conclusions: The development of modern business services sector in Lublin is an opportunity for a dynamic economic development of the city and the region.

Social Capital and Social Networks in the Life Sciences Industry Clusters. An Analysis of Selected Case Studies

Subject and purpose of work: The study aims to explore the role of social capital in the new concept of “effective” cluster, by exploiting not only its human and financial assets but also the social networks with the cluster. Materials and methods: The study presents the case-study findings of the five life-sciences clusters which were conducted in 2018-2019. Additionally, the article discusses the role of social capital and the collaborative efforts within the life sciences clusters during the Covid-19 pandemic. Results: All the analyzed cluster environments have their own social dynamics. Considering the scale and scope of social ties, the Cambridge and Medicon Valley clusters conform with the concept of the “functional clusters”, while the Bay Area and Seattle clusters can be classified as “effective clusters”. Conclusions: All the cluster ecosystems have evolved from different origins and they follow different evolutionary paths. Yet, clusters with richer social capital achieve higher collaborative synergy, leading to an increase in knowledge spillovers and innovations. Public policies should focus on the active promotion of social networks and market-oriented intermediaries connecting main cluster partners.

Land Tenure Security Perceptions Amongst Nigerian Rural Communities: A Case Of Atiba Local Government Area (Lga), Oyo State

Subject and purpose of work: Security of tenure is observed as an underlying tool for measuring the development among communities of developing countries. Despite this, the issues related to peoples’ thinking or feelings as well as to what drives security of land tenure are poorly understood and inconclusive. This study examines the residents’ perception of security of land tenure in rural Nigeria. Materials and methods: A multistage sampling procedure was used to select 125 respondents from the study area by administering a questionnaire while key informants were subjected to an in-depth interview. Results: The data for the study were collected and analysed using content analysis, descriptive and inferential statistics. The study revealed that the perception of security of land tenure varies in the area studied and across the settlement categories. Further results showed that four factors such as income, length of stay, culture, and education were identified as major factors influencing the residents’ perception of the security of land tenure. Conclusions: The study concluded that socio-economic and cultural factors influence the residents’ perception of security of land tenure in the area researched.