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Article
Publication date: 1 March 1998

Robert Gaizauskas and Yorick Wilks

In this paper we give a synoptic view of the growth of the text processing technology of information extraction (IE) whose function is to extract information about a…

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Abstract

In this paper we give a synoptic view of the growth of the text processing technology of information extraction (IE) whose function is to extract information about a pre‐specified set of entities, relations or events from natural language texts and to record this information in structured representations called templates. Here we describe the nature of the IE task, review the history of the area from its origins in AI work in the 1960s and 70s till the present, discuss the techniques being used to carry out the task, describe application areas where IE systems are or are about to be at work, and conclude with a discussion of the challenges facing the area. What emerges is a picture of an exciting new text processing technology with a host of new applications, both on its own and in conjunction with other technologies, such as information retrieval, machine translation and data mining.

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Journal of Documentation, vol. 54 no. 1
Type: Research Article
ISSN: 0022-0418

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Article
Publication date: 1 January 1989

Accumulation of tolerances on components of sub‐assemblies has caused problems in automating assembly. Marposs has found a way round.

Abstract

Accumulation of tolerances on components of sub‐assemblies has caused problems in automating assembly. Marposs has found a way round.

Details

Assembly Automation, vol. 9 no. 1
Type: Research Article
ISSN: 0144-5154

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Article
Publication date: 28 September 2021

Stephen Esaku

In this paper, the authors examine how economic growth shapes the shadow economy in the long and short run.

Abstract

Purpose

In this paper, the authors examine how economic growth shapes the shadow economy in the long and short run.

Design/methodology/approach

Using annual time series data from Uganda, drawn from various data sources, covering the period from 1991 to 2017, the authors apply the ARDL modeling approach to cointegration.

Findings

This paper finds that an increase in economic growth significantly reduces the size of the shadow economy, in both the long and short run, all else equal. However, the long-run relationship between the shadow economy and growth is non-linear. The results suggest that the rise of the shadow economy could partially be attributed to the slow and sluggish rate of economic growth.

Practical implications

These findings imply that addressing informality requires addressing underlying factors of underdevelopment since improvements in economic growth also translate into a reduction in the size of the shadow economy in the short and long run.

Originality/value

These findings reveal that the low level of economic growth is an issue because it spurs informal sector activities in the short run. However, as the economy improves, it becomes an incentive for individuals to operate in the informal sector. Additionally, tackling shadow activities in the short run could help improve tax revenue collection.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

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Article
Publication date: 16 August 2021

Anam Javaid and Noman Arshed

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds…

Abstract

Purpose

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds. This study aims to identify the important sources of growing demand for money laundering in developing countries. Further, it identifies the factors that reduce the impact of sources of demand for money laundering.

Design/methodology/approach

This study used the panel approach of feasible generalized least square to investigate the growing demand for money laundering in 62 developing countries and provides a moderation-based solution for managing the demand factors.

Findings

The empirical results of this study indicate that there are two sources that increase the demand for money laundering in developing countries. This includes a high tax rate on profit linked with private firms and businesses and diversion of public funds related to government officials and politicians. The results indicate that profit tax and diversion of funds increase the demand for money laundering. The profit tax-based money laundering can be moderated by the quality of the education system and the diversion of public funds and money laundering can be moderated using bureaucracy quality.

Originality/value

This is one of the first studies to empirically estimate the impact of two important sources (i.e. diversion of public funds by government officials and politicians and a high tax rate) that create demand for money laundering in developing countries. The findings help developing countries’ governments formulate policies and curb the growing demand for money laundering.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

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Book part
Publication date: 13 May 2019

Amit Majumder, Megnath Routh and Dipayan Singha

One of the noteworthy developments in the world economy is the cryptocurrency in general and the bitcoin in particular. Although several types of cryptocurrency are in…

Abstract

One of the noteworthy developments in the world economy is the cryptocurrency in general and the bitcoin in particular. Although several types of cryptocurrency are in operation in the current digital economy, the most prevalent is the bitcoin, which was launched formally in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. The value of bitcoin has increased to such an extend that it reached 19.7 billion US dollars by January 2, 2018 (Statista, 2018). As the bitcoin price touches a new high day by day, various terrorist organizations are using this cryptocurrency to anonymously finance their grotesque terrorist activities around the world by bypassing the surveillance mechanism of the banking system of the respective countries. Against this backdrop, this chapter aims to understand the mechanism of cryptocurrencies in general and the bitcoin in particular. Finally, it also endeavors to identify the trend of the bitcoin economy and its impact on nefarious activities in general and terrorism financing in particular. It has been revealed from the study that cryptocurrency economy has become so popular across the world that it has created an alternative virtual economy devoid of regulations from a specific country or a group of countries. By using vector error correction model (VECM), it had been observed that there exists a statistically significant long-run association between terrorist incidences and bitcoin transaction/circulation in the panel of 12 countries for 2010–2016. However, there is a huge concern over its way of operation and its unholy nexus with terrorism financing.

Details

The Impact of Global Terrorism on Economic and Political Development
Type: Book
ISBN: 978-1-78769-919-9

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Article
Publication date: 18 January 2021

Oluyemi Theophilus Adeosun, Ayodele Ibrahim Shittu and Stellamaris Ifunanya Aju

This paper aims to explore how women entrepreneurs in informal settings, especially in the fishing sub-sector in rural communities, relate to different dimensions of…

Abstract

Purpose

This paper aims to explore how women entrepreneurs in informal settings, especially in the fishing sub-sector in rural communities, relate to different dimensions of innovation. Specifically, this paper examines how women entrepreneurs engage in process, managerial and technological innovations. This paper also examines how they fund their business, develop their products across the value chain innovatively and how it influences their business output and welfare.

Design/methodology/approach

A face-to-face structured interview was administered among 100 women entrepreneurs in the fishing agriculture sub-sector in the Anam community, Anambra East LGA, in Anambra State. The study uses the multiple logistic regression model, descriptive analysis technique and it is quantitative in approach. The research is situated within the Local Innovation Systems and adopts diffusion innovation theory.

Findings

The study established the following: level of education and learning capabilities are significant predictors of process innovation capabilities among women-owned enterprise in informal settings; level of education, years of fishing experience and learning capabilities are significant predictors of technological innovation capabilities among women-owned enterprise in informal settings; and level of education is the only significant predictor of management innovation capabilities among women-owned enterprise in informal settings.

Originality/value

This paper focuses attention on the issue of innovation by women who operate in the informal sector of the fishing sub-sector in the agricultural value chain with attention for their productivity and welfare.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 15 no. 1
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 30 June 2020

Biswajit Mandal and Alaka Shree Prasad

This paper aims to strive to model virtual trade resulting from time zone differences in an otherwise Heckscher–Ohlin set up which is absent in the literature. So, the…

Abstract

Purpose

This paper aims to strive to model virtual trade resulting from time zone differences in an otherwise Heckscher–Ohlin set up which is absent in the literature. So, the paper adds some value to the existing literature on time zones (TZ) and trade.

Design/methodology/approach

A competitive general equilibrium model is developed first to capture the effect of TZ differences on virtual trade. Then the authors examine, in brief, if distance can be accommodated in such framework. Finally, the authors extend the model to incorporate informality.

Findings

It is seen that exploitation of time zone difference benefits skilled labor and hurts capital under reasonable assumption. In what follows, time zone difference exploiting sector expands, whereas the other sector contracts. Then, the model has been extended to examine how distance may also lead to similar outcomes. In addition, the model is further modified to explore the effect of virtual trade in an informality and associated extortion ridden economy. Interestingly, virtual trade turns out to be beneficial to unskilled workers as well, and leads to a fall in the number of extortionists, though informal production is augmented.

Research limitations/implications

This model is a competitive model that may not clearly reflect the realistic world. However, interestingly this may form the basis of looking into some other appealing dimensions of the real world.

Originality/value

TZ and related communication-cost-driven trade arguments are relatively less explored theoretically. Therefore, the work adds some value to the theoretical understanding of outsourcing in service trade that uses day-night differences across the globe.

Details

Indian Growth and Development Review, vol. 14 no. 1
Type: Research Article
ISSN: 1753-8254

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Article
Publication date: 22 January 2020

Martin Grandes and Ariel Coremberg

The purpose of this paper is to demonstrate empirically that corruption causes significant and sizeable macroeconomic costs to countries in terms of economic activity and…

Abstract

Purpose

The purpose of this paper is to demonstrate empirically that corruption causes significant and sizeable macroeconomic costs to countries in terms of economic activity and economic growth. The authors modeled corruption building on the endogenous growth literature and finally estimated the baseline (bribes paid to public officials) macroeconomic cost of corruption using Argentina 2004-2015 as a case study.

Design/methodology/approach

The authors laid the foundations of a new methodology to account corruption losses using data from the national accounts and judiciary investigations within the framework of the Organisation for Economic Cooperation and Development (OECD) non-observed economy (NOE) instead of subjective indicators as in the earlier literature. They also suggested a new method to compute public expenditures overruns, including but not limited to public works.

Findings

The authors found the costs stand at a minimum accumulated rate of 8 per cent of gross domestic product (GDP) or 0.8 per cent yearly. These findings provided a corruption cost floor and were consistent with earlier research on world corruption losses estimated at 5 per cent by the World Economic Forum and with the losses estimated at between a yearly rate of 1.3 and 4 per cent and 2 per cent of GDP by Brazil and Peru’s corruption, respectively.

Research limitations/implications

The authors would need to extend the application of their new suggested methodology to further countries. They are working on this. They would need to develop the methodology in full to compute the public works overruns input to future econometric work.

Originality/value

In this paper, the authors make a threefold contribution to the literature on corruption and growth: first, they laid the foundations toward a new methodology to make an accounting of the corruption costs in terms of GDP consistent with the national accounts and executed budgets; on the one hand, and the OECD NOE framework, on the other. The authors named those corruption costs as percentage of GDP the “corruption wedge.” Second, they developed an example taking corruption events and a component of their total costs, namely, the bribes paid to public officials, taking Argentina 2004-2015 as a case study. Finally, they plugged the estimated wedge back into an endogenous growth model and calibrated the growth–corruption path simulating two economies where the total factor productivity was different, at different levels of the corruption wedge.

Details

Journal of Financial Crime, vol. 27 no. 1
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 28 July 2020

Roberto Dell'Anno and Omobola Adu

This paper contributes to the literature concerning the Nigerian informal economy (IE) by estimating its size from 1991 to 2017 and identifying the major causes.

Abstract

Purpose

This paper contributes to the literature concerning the Nigerian informal economy (IE) by estimating its size from 1991 to 2017 and identifying the major causes.

Design/methodology/approach

A structural equation approach in the form of the multiple indicators multiple causes (MIMIC) method is used to estimate the size of the Nigerian IE.

Findings

The results indicate that vulnerable employment and urban population as a percentage of the total population are the main drivers of the IE in Nigeria. The IE in Nigeria ranges from 38.83% to 57.55% of gross domestic product (GDP).

Research limitations/implications

As a result of the empirical challenges in the estimation of the IE, the estimates of Nigeria's IE are considered to be rough estimates.

Originality/value

The authors calibrated the MIMIC model with the official estimate of the informal sector published by the Nigerian National Bureau of Statistics (NBS). This was an attempt to combine the national accounting approach, to estimate the size of IE, with the MIMIC approach, and to estimate the trend of informality.

Details

International Journal of Social Economics, vol. 47 no. 8
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 7 October 2019

Debasish Roy

Over one and half years have passed since the demonetization of Indian economy had occurred on November 8, 2016. The drastic step was initiated by the Prime Minister…

Abstract

Purpose

Over one and half years have passed since the demonetization of Indian economy had occurred on November 8, 2016. The drastic step was initiated by the Prime Minister Narendra Modi with an intention to curb the “huge” circulation of illicit or “black” money of Indian economy by means of withdrawal of high value denominations of Rupees 500 and Rupees 1,000 from the supply of broad money (M3). This step helped to demonetize around 86 per cent value of total money supply leading to an unprecedented chaos in the economy and public life. The long delays in issuing fresh currency notes at the banks and ATMs further deteriorated the sudden economic crisis.

Design/methodology/approach

This research paper is aimed at exploring the proclaimed “efficacy” of demonetization policy as proposed by Reserve Bank of India by means of a mathematical approach and critically examines the effects of demonetization on the illicit money supply of Indian economy on the basis of macroeconomic theory.

Findings

From the mathematical model and related estimates, it may be easily deduced that the Indian policymakers deliberately hurled the masses in one of the gravest economic crises with a clear-cut intention of creating a political gimmick, when in reality, the proportion of illegitimate money supply was not even 1 per cent of total legitimate supply of money.

Originality/value

The analyses and findings related to this paper are based on mathematical modeling and logical interpretations. This paper is free of plagiarism as all the necessary sources and references are properly cited.

1 – 10 of 96