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Article
Publication date: 3 November 2014

John H Drake, Matthew Hyde, Khaled Ibrahim and Ender Ozcan

Hyper-heuristics are a class of high-level search techniques which operate on a search space of heuristics rather than directly on a search space of solutions. The purpose…

Abstract

Purpose

Hyper-heuristics are a class of high-level search techniques which operate on a search space of heuristics rather than directly on a search space of solutions. The purpose of this paper is to investigate the suitability of using genetic programming as a hyper-heuristic methodology to generate constructive heuristics to solve the multidimensional 0-1 knapsack problem

Design/methodology/approach

Early hyper-heuristics focused on selecting and applying a low-level heuristic at each stage of a search. Recent trends in hyper-heuristic research have led to a number of approaches being developed to automatically generate new heuristics from a set of heuristic components. A population of heuristics to rank knapsack items are trained on a subset of test problems and then applied to unseen instances.

Findings

The results over a set of standard benchmarks show that genetic programming can be used to generate constructive heuristics which yield human-competitive results.

Originality/value

In this work the authors show that genetic programming is suitable as a method to generate reusable constructive heuristics for the multidimensional 0-1 knapsack problem. This is classified as a hyper-heuristic approach as it operates on a search space of heuristics rather than a search space of solutions. To our knowledge, this is the first time in the literature a GP hyper-heuristic has been used to solve the multidimensional 0-1 knapsack problem. The results suggest that using GP to evolve ranking mechanisms merits further future research effort.

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Article
Publication date: 14 November 2016

Emmanuel Carsamer

The concept of co-movement has witnessed a resurgence in the international finance literature in recent years after the black swan events. This might be due to a renewed…

Abstract

Purpose

The concept of co-movement has witnessed a resurgence in the international finance literature in recent years after the black swan events. This might be due to a renewed focus on globalization and financial market integration in the world over. The purpose of this paper is to examine the dynamic linkages in the foreign exchange market resulting from recent globalization and financial market integration in Africa.

Design/methodology/approach

A conceptual framework was adapted from the extant literature and was used as the basis of modeling foreign exchange market in Africa. This paper adopts a quantitative research approach and opted for dynamic panel data analysis to empirically unearth the determinants of foreign exchange market co-movement.

Findings

It is interesting to note that exchange rate co-movements were externally determined. Robust support was found for trade intensity, competition and world interest rate on foreign exchange rates co-movement, but regional interest rate differential decreased it. These findings clearly demonstrate the level of financial development and challenges that sometimes exist in exchange rate policy implementation by policy makers in Africa.

Research limitations/implications

Future research might incorporate bilateral investment into the model of exchange rate correlation.

Originality/value

Studies focussing on simultaneous consideration of intensity, trade competition and capital account openness to exchange rate correlations in the contexts of Africa are almost non-existent, and this study makes an important contribution in not only addressing this imbalance but also more importantly improving the relatively parsimonious literature on foreign exchange co-movement.

Details

Journal of Economic Studies, vol. 43 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

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Article
Publication date: 27 November 2020

Nasr Al-Hinai and Ahm Shamsuzzoha

This study aims to develop a practical methodology to identify possible areas of improvements as well as exploring how to improve the health-care staff flow within a…

Abstract

Purpose

This study aims to develop a practical methodology to identify possible areas of improvements as well as exploring how to improve the health-care staff flow within a selected department in a hospital.

Design/methodology/approach

It focuses on showing how to properly study and analyze the health-care services and processes practiced at a selected department within a hospital. For this, several techniques like non-value-adding activities, time motion study, spaghetti diagram, layout analysis, etc. are used.

Findings

To test the proposed methodology, a neonatal intensive care unit (NICU) of a hospital in Oman was considered as a case study. The study revealed that this unit has several potential improvements capabilities. Further, this study also discussed possible areas of improvements of this case unit and suggested how such improvements can be implemented.

Originality/value

Several possible improvements are suggested and are discussed with the hospital authority, which can be clarified as the re-layout of the NICU rooms, reorganization of the store to improve the staff flow, increase the work efficiency, introduction of Help Us Support Healing policy, etc., which can enhance the entire operational system at the studied NICU.

Details

International Journal of Quality & Reliability Management, vol. 38 no. 6
Type: Research Article
ISSN: 0265-671X

Keywords

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Article
Publication date: 7 December 2015

Olusegun Ayodele Akanbi

– The purpose of this paper is to examine the sustainability of fiscal policy in Nigeria by disaggregating the economy into oil and non-oil segments.

Abstract

Purpose

The purpose of this paper is to examine the sustainability of fiscal policy in Nigeria by disaggregating the economy into oil and non-oil segments.

Design/methodology/approach

Owing to the enormous influence of the oil revenue, the study distinguishes between the oil and non-oil fiscal balances. In addition, it abstracted from the endogenous macroeconomic environment, therefore, fiscal policy sustainability is investigated on the basis of the responses of the government primary balance to changes in deficits and debt levels. The models are estimated with time-series data from 1970 to 2011 using the Johansen estimation techniques.

Findings

The results from the estimations performed suggest that government responds more to deficit targets than debt targets. However, this differs in the non-oil segment, as the fiscal policy actions of government do not consistently respond to either deficit or debt targets. Given this, the overall economy and the oil segment have revealed a strong fiscal sustainability over the years while fiscal policy is unsustainable in the non-oil segment.

Research limitations/implications

The major limitation of this study is the unavailability of data on government expenditure resulting from oil revenue. Therefore, it would be imperative to reinvestigate the specifications adopted in this study in follow-up studies.

Practical implications

The study includes implications for policy makers, especially in Nigeria and other oil-producing countries, to detect the extent to which the economy should rely on the oil revenue stream as the main source of revenue to government. The proceeds from the oil endowment have not yet trickled down to the rest of the economy where real economic activity could be carried out which would eventually lead to more tax revenue for the government.

Originality/value

To assess the sustainability of fiscal policy in an oil-rich economy such as Nigeria, it is imperative to detect the influence of oil funds on both government revenue streams and expenditure decisions. This study has made this distinction.

Details

African Journal of Economic and Management Studies, vol. 6 no. 4
Type: Research Article
ISSN: 2040-0705

Keywords

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Article
Publication date: 15 May 2017

Gillian King, Kathryn Parker, Sean Peacocke, C.J. Curran, Amy C. McPherson, Tom Chau, Elaine Widgett, Darcy Fehlings and Golda Milo-Manson

The purpose of this paper is to describe how an Academic Health Science Centre, providing pediatric rehabilitation services, research, and education, developed a Centres…

Abstract

Purpose

The purpose of this paper is to describe how an Academic Health Science Centre, providing pediatric rehabilitation services, research, and education, developed a Centres for Leadership (CfL) initiative to integrate its academic functions and embrace the goal of being a learning organization.

Design/methodology/approach

Historical documents, tracked output information, and staff members’ insights were used to describe the ten-year evolution of the initiative, its benefits, and transformational learnings for the organization.

Findings

The evolutions concerned development of a series of CfLs, and changes over time in leadership and management structure, as well as in operations and targeted activities. Benefits included enhanced clinician engagement in research, practice-based research, and impacts on clinical practice. Transformational learnings concerned the importance of supporting stakeholder engagement, fostering a spirit of inquiry, and fostering leaderful practice. These learnings contributed to three related emergent outcomes reflecting “way stations” on the journey to enhanced evidence-informed decision making and clinical excellence: enhancements in authentic partnerships, greater innovation capacity, and greater understanding and actualization of leadership values.

Practical implications

Practical information is provided for other organizations interested in understanding how this initiative evolved, its tangible value, and its wider benefits for organizational collaboration, innovation, and leadership values. Challenges encountered and main messages for other organizations are also considered.

Originality/value

A strategy map is used to present the structures, processes, and outcomes arising from the initiative, with the goal of informing the operations of other organizations desiring to be learning organizations.

Details

Journal of Health Organization and Management, vol. 31 no. 3
Type: Research Article
ISSN: 1477-7266

Keywords

Content available
Article
Publication date: 2 July 2020

Kofi Kamasa, Isaac Mochiah, Andrews Kingsley Doku and Priscilla Forson

This paper aims to empirically investigate the impact that financial sector reforms have on foreign direct investment (FDI) in Ghana.

Abstract

Purpose

This paper aims to empirically investigate the impact that financial sector reforms have on foreign direct investment (FDI) in Ghana.

Design/methodology/approach

Composite financial sector reform index was constructed, which was made up of various forms of reform policies that were implemented from 1987 to 2016. The auto regressive distributed lag bounds test was used to establish cointegration between variables. Having controlled for other covariates that affect FDI such as trade openness, exchange rate, gross domestic product per capita, inflation and by using the fully modified ordinary least squares method, the estimations are robust as it uses a semi-parametric correction to avoid for any possible issues of endogeneity and serial correlation.

Findings

Results from the paper reveal that financial sector reform deepening boost FDI with a 2.167% increase in FDI following from a unit percentage improvement of the financial sector reforms. Considering the various categories of reforms, the results reveal that competitive reforms have the highest impact on FDI followed by privatization reforms with positive and significant elasticity coefficients of 2.174% and 0.726%, respectively. Behavioral reforms revealed a positive effect on FDI, albeit insignificant.

Originality/value

The paper contributes to policy by providing empirical evidence on the effect of financial sector reform on FDI inflows in Ghana. As far as the review of literature is concerned, this paper provides the foremost empirical evidence on the subject with sole emphasis on Ghana. Thus, this paper suggests the deepening of the financial sector reforms, improving competition and maintaining macroeconomic stability.

Details

Journal of Humanities and Applied Social Sciences, vol. 2 no. 4
Type: Research Article
ISSN:

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Article
Publication date: 1 March 2019

Olugbenga Onafowora and Oluwole Owoye

The purpose of this paper is to examine the dynamic and long-run relationships among public debt, FDI and output growth in five individual Caribbean countries over the…

Abstract

Purpose

The purpose of this paper is to examine the dynamic and long-run relationships among public debt, FDI and output growth in five individual Caribbean countries over the period 1975–2015.

Design/methodology/approach

Zivot and Andrews (1992) unit root test with structural break is used to examine the stationarity of the variables and then the autoregressive distributed lag bounds testing procedure is used to ascertain existence of cointegration among them. Finally, order-invariant generalized forecast error variance decomposition (GFEVD) is used to establish the strength of the causal relationship between the examined variables.

Findings

The results confirm that the examined variables are cointegrated. FDI, domestic investment, trade openness, human capital (HC) and institutional quality were found to have significantly positive effects on economic growth, while higher public debt and inflation rates hampered growth. GFEVD revealed unidirectional Granger causality running from FDI to economic growth in two countries; unidirectional causality from growth to FDI in two other countries; and bidirectional causality between growth and FDI in one other country. The results also indicate one-way causality from output growth to public debt in three countries and bidirectional causality between these two variables in two other countries.

Practical implications

The implication is that the Caribbean Governments may need to adopt effective debt management as a major policy and intensify efforts at utilizing loans obtained judiciously for human and capital projects that have direct positive net present value but, to secure strong and inclusive growth, these strategies must be linked to policies that enhance macroeconomic stability and the quality of their institutions, encourage capital inflows and domestic investments vis-à-vis domestic savings, and increase HC and trade earnings.

Originality/value

In contrast to extant studies of the public debt–FDI–output growth nexus, this study controls for the possibility of structural breaks in unit root tests along with performing bounds test for cointegration, variance decomposition analysis, Granger causality tests, and CUSUM and CUSUMSQ tests for the stability of the dynamic output growth model. This is a unique contribution to the existing literature, and highlights the originality value of this paper.

Details

International Journal of Emerging Markets, vol. 14 no. 5
Type: Research Article
ISSN: 1746-8809

Keywords

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