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Article
Publication date: 3 January 2023

Pengcheng Xiang, Xin Xia and Xianya Pang

The purpose of this paper is to develop a novel integrated risk assessment method from the system perspective to evaluate the risk of the cross-regional mega construction…

Abstract

Purpose

The purpose of this paper is to develop a novel integrated risk assessment method from the system perspective to evaluate the risk of the cross-regional mega construction project (CMCP). Furthermore, this paper aims to confirm the core risk source factors and refine the risk management strategies of CMCPs through a case study.

Design/methodology/approach

Based on the analysis of the risk system of CMCPs, the concept model and risk assessment principles of integrated risk assessment were confirmed. The risk source factors and project objectives of the CMCP were identified from a literature review, export interview and case analysis. According to the vulnerability theory, the integrated risk assessment model was developed by involving vulnerabilities, threats, objectives and interaction of those factors synthetically. Then, ZW high-speed railway from China was analyzed to verify the feasibility and effectiveness of the proposed method.

Findings

As a result, 12 threat factors and 12 vulnerability factors were identified. Based on the case study, the main external threat comes from T13 (conflicts of interest between local governments) and T23 (harsh natural environment); the most easily exploited internal vulnerabilities were V11 (complexity of technology), V13 (lack of experience in technical application), V21 (inadequate experience) and V23 (lack of interest coordination mechanism). Moreover, the economic objective was most affected.

Practical implications

It is essential to develop an interest coordination mechanism for CMCPs. The harsh natural environment is a critical factor, but it also promotes technological innovation and iteration. Public opinions in different regions are critical for CMCPs, and more emphasis should be placed on public opinion surveys of CMCPs. Moreover, diverse and flexible environmental protection strategies should apply in CMCPs.

Originality/value

This research has the following three contributions. First, based on vulnerability theory, an integrated risk assessment approach of CMCPs is developed, which enriches the risk measurement method system and provides inspiration for future research on risk in the construction industry. Second, the risk sources of CMCPs are identified from the perspective of vulnerability and threat to provide clear guidance for the risk management of CMCPs. Third, the core risk source factors and management strategies confirmed by the case study will be beneficial for various governments in different regions and project managers to optimize the project management scheme, as they are transferable management experiences.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Book part
Publication date: 30 March 2022

Khanifa V. Tyrkba, Ravil R. Asmyatullin and Elizaveta I. Ruzina

This chapter examines the key features of online education development, its trends in the world market and, in particular, in the Chinese market, as a successful case of…

Abstract

This chapter examines the key features of online education development, its trends in the world market and, in particular, in the Chinese market, as a successful case of digitalization of education (the annual growth rate of the e-learning market in China on average is 20%). Based on the example of China, the authors identify several drivers of online education growth, including institutional (national education policy), technological (technological potential to introduce digital technologies into education) and financial (inflows of investment, including venture capital, in this industry).

Details

Current Problems of the World Economy and International Trade
Type: Book
ISBN: 978-1-80262-090-0

Keywords

Book part
Publication date: 16 September 2022

Elena G. Popkova and Anastasia A. Sozinova

This chapter’s goal is to determine the essence and causal connections of the emergence of conflicts at the level of economic systems (countries) due to technological…

Abstract

This chapter’s goal is to determine the essence and causal connections of the emergence of conflicts at the level of economic systems (countries) due to technological inequality and to find the perspectives of overcoming these conflicts. The chapter models the economic and political conflict of modern time under the conditions of high-tech development based on the methods of variation analysis and regression analysis. It is proven that the scale of technological inequality in the world economy is very large. It is the economic and political conflict of modern time, the essence of which is as follows: the differentiation of economic systems amid digital development predetermines the opportunities for their entering the world markets. This chapter contributes to the development of the theory of economic and political conflicts, proving the existence of technological inequality as a new form of differentiation of economic systems amid digital development and defining this inequality as a new economic and political conflict of modern time. The chapter also contributes to the development of the theory of international trade, disproving – for the first time – the action of the principle of freedom of international trade. The authors describe technological barriers of the world markets, which limit the presence of countries that are behind the leading countries by digital development. Three key factors that determine the level of technological development of the economy are given: knowledge-intensive employment, venture investments and financing of innovations in business. Due to the above, the chapter provides opportunities for technological conflict management.

Book part
Publication date: 1 March 2021

Ermita Yusida, Vika Annisa Qurrata, Vidya Purnamasari and Wen-Chi Huang

Internet technology and social media especially from mobile social commerce are known to have lavish impacts on the economic development. The purpose of this study was to…

Abstract

Internet technology and social media especially from mobile social commerce are known to have lavish impacts on the economic development. The purpose of this study was to identify the impact of the online market on the level of social welfare of online market traders which is proxies by the level of income. Bulan Terang Utama (BTU) area was used as an object in this study due to the fact that it is a subsidized housing area with a level of middle-income community income. The method used in this study was a quantitative method using the analysis of three-stage least square (3SLS). The results of the 3SLS estimation indicate that there was a significant increase in online seller income with the presence of the BTU online market. This situation happened by the fact that many buyers switch to sellers after they join the BTU Online Market. They began as a buyer and then offered their merchandise through the online market and became a permanent seller in this group. When many residents in these areas are using online markets as their primary place for selling, there will be need for strong connectivity (internet network) in each region to develop current economic activities. Furthermore, the government rule in enhancing technology literacy is also very important especially for the middle to lower regions.

Details

Recent Developments in Asian Economics International Symposia in Economic Theory and Econometrics
Type: Book
ISBN: 978-1-83867-359-8

Keywords

Book part
Publication date: 8 June 2021

Mainak Bhattacharjee and Sanghita Ghosh

The ability to produce knowledge is the key currency in the current and future global economy. Today, technology is one of the important sources of economic growth. The…

Abstract

The ability to produce knowledge is the key currency in the current and future global economy. Today, technology is one of the important sources of economic growth. The impact of introduction of technology is observed in every field and one such field is knowledge economy. This paper explores the potential consequences of technological transition in the knowledge economy brought about by the introduction of virtual system backed by Internet and software innovations, so to speak in terms of skill augmentation, wage inequality, and so forth, to highlight the overall impact on welfare. In this framework, this paper develops a model on small open economy with three sectors (modern export sector, import competing sector, and skill-generating sector) and three factors of production namely, skilled labor (the output of S), unskilled labor, and capital. It is found that the impact of technological transition on each sector is ambiguous but the direction of welfare change is unambiguous. In this study, our objective is to find out the possible impacts of such disruptive technology on the higher education sector of India and also to locate the development dynamics of such an outcome along with a feasible roadmap for overcoming the trade-off between future economic growths of a sound knowledge economy with social justice.

Details

Comparative Advantage in the Knowledge Economy
Type: Book
ISBN: 978-1-80071-040-5

Keywords

Book part
Publication date: 16 September 2022

Pavel A. Kalinin, Alexey V. Tolmachev, Svetlana A. Tikhonovskova and Platon A. Lifanov

This chapter is aimed at reflecting technologies as the key resources of modern regions, identifying the essence and modelling the digital inequality of Russian regions…

Abstract

This chapter is aimed at reflecting technologies as the key resources of modern regions, identifying the essence and modelling the digital inequality of Russian regions, as well as forming the methodological foundation for the consistent resolution of conflicts in the regional economy of Russia. Through the example of the regional economy of modern Russia, the method of the variation analysis is used for the analysis of differences between regions that are individually investigated in relation to the level of digitalization, and their regression dependence on the level of technological development is determined. As a result, it has been found that Russian regions are characterized by a number of conflicts due to their multi-aspect inequality; these include innovation conflicts, investment conflicts and quality of life conflicts. The abovementioned conflicts are mainly caused by differences in the provision of technological resources to regions (in their digitalization). The novelty and fundamental significance of this chapter consist in the clarification of the cause of spatial inequality through differences in the provision of technological resources to regions. The unique character of this chapter consists in justification of the technology factor of the emergence of inequality and conflicts of regions. This chapter proves that technological inequality exacerbates other aspects of inequality and conflicts of regions. Originality and practical relevance of this chapter consist in the evaluation of the prospects and development of recommendations for conflict management in Russian regions through overcoming differences in their technological support and accelerating the pace of their digitalization.

Book part
Publication date: 23 May 2019

Bruno S. Sergi, Elena G. Popkova, Aleksei V. Bogoviz and Yulia V. Ragulina

The purpose of the article is to study the recent tendencies of growth of Russia’s agro-industrial complex (AIC), determine the optimal scenario of its development, and…

Abstract

The purpose of the article is to study the recent tendencies of growth of Russia’s agro-industrial complex (AIC), determine the optimal scenario of its development, and develop recommendations in the sphere of state regulation for its practical implementation. While there are tendencies of growing production and increase in Russia’s export, against this background, there is a tendency of quicker increase of import of food – if it continues, positive balance of foreign trade of food products in 2018 will turn into negative balance in 2020–2024. Though efficiency of crop farming is peculiar for a tendency of quick growth, efficiency of animal breeding is stable, which does not allow overcoming the growing deficit of food in Russia, which grows under the influence of the tendency of wear of fixed funds and slow implementation of new fixed funds due to insufficient financing. Scenarios of mid-term (i.e., until 2024) growth of Russia’s AIC are compiled, of which the most optimal is scenario that requires technological advancements, due to which increase in the value of index of food security up to 85.00 points (27%) will be achieved and the set goals of growth and development of Russia’s AIC will be reached. For a successful optimal scenario of the growth of Russia’s AIC, we offer recommendations in the sphere of state regulation of its digital modernization: adoption of the national strategy of transition to AIC 4.0 within the program “Digital economy of the RF,” development of import substitution in the AIC with emphasis on B2B markets, preparation of the technological platform for transition to AIC 4.0, and sufficient financing for digital modernization of the AIC.

Details

Modeling Economic Growth in Contemporary Russia
Type: Book
ISBN: 978-1-78973-265-8

Keywords

Book part
Publication date: 15 September 2022

Rasmiyya Abdullayeva Sabir, Allahyar Muradov Niyaz and Aytan Guliyeva Bakhtiyar

Introduction: The rapid technological changes have significantly decentralised the economy and social life in the last 20 years. The transformation into the digital…

Abstract

Introduction: The rapid technological changes have significantly decentralised the economy and social life in the last 20 years. The transformation into the digital environment and its socio-economic consequences may experience numerous issues depending on the level of development of countries. The experience of developed countries shows that digitalisation delivers a positive impact on economic development (because of increased labour productivity, transparency and reduction of the shadow economy). In fact, on the other side, economic development represent the improvement of people’s well-being.

However, it is, furthermore, the fact that delays in the process of transformation into the digital environment will lead to economic decline and as a result, social problems. Many current studies focus on the social consequences and benefits of digitalisation. In many cases, the social consequences of digitalisation (unemployment and income inequality) are exaggerated. The authors believe that the economic and social benefits (measurable and non-measurable) of digitalisation are enormous. Examples could be introduced as the emergence of new intelligent professions and specialties, the comfort of jobs and life, the ability to get the products, information and knowledge from anywhere in the world.

The history of the development of society shows that people have always been interested in the ‘comfort’ of life. It is the acceleration of digitalisation in recent years that has stated a significant place in this process.

Objective: To adequately assess the relationship between digitalisation and the comfort of life, the improvement of welfare (income, secure life and satisfaction) and to indicate the social benefits of digitalisation on a scientific basis.

Method: To identify measurable and unmeasurable factors and benefits of technological change on human life, to assess the impact of digitalisation on economic growth, income, labour productivity, intellectual development, knowledge capital and health care.

Findings: Although digitalisation will endure a number of social consequences in the short and medium term, but the well-being of people will be improved and life will be turned on more delightful, and incomes increased in the long term.

Details

The New Digital Era: Digitalisation, Emerging Risks and Opportunities
Type: Book
ISBN: 978-1-80382-980-7

Keywords

Book part
Publication date: 19 July 2022

Nitin Thapar, Suresh Kumar Kaswan and Jyotsna Sharma

Purpose: This paper aims to reveal the impact of the pandemic Covid-19 on the banking and financial sector. Covid-19 is a pandemic disease that’s impacting all nations…

Abstract

Purpose: This paper aims to reveal the impact of the pandemic Covid-19 on the banking and financial sector. Covid-19 is a pandemic disease that’s impacting all nations. However, its amount varies from one country to another depending on the country’s social and economic infrastructure progress. The whole world is passing through great improbability. Indian economy is also facing equivalent issues from contraction in growth to rising inflation, unemployment and low demand. Covid-19 has impacted all industries worldwide, and the financial service sector is not any exception. Covid-19, which began as a health crisis, has now been appropriated as a financial one.

Methodology: This study intends to showcase various new developments in the banking sector. In the present scenario, banks are focusing on utilising new technological innovations to reinforce their risk management competence. Since the aim is to analyse various latest developments in the banking sector and its impact during Covid-19, the focus is to collect the relevant and supporting material from every possible secondary source. To attain the main aim of this paper, the data are collected using secondary sources, i.e. data from the annual reports of the Reserve Bank of India (RBI), Security Exchange Board of India, Federation of Indian Chambers of Commerce & Industry, Organisation for Economic Co-operation and Development (OECD), the International Monetary Fund (IMF), and the World Bank and various others sources. This is taken care of on the primary basis that the reliable and authentic sources are incorporated in this study. Since the study scope is limited to analysing the new developments in the banking sector due to Covid-19, the maximum literature available to attain the paper’s objective is from 2020 to 2021.

Findings: The banking sector is among the most crucial sectors of the Indian economy, which is accountable for almost every financial activity possibly happening within the country. It acts as a holding hand to the industry involved in credit, transactions, collection, etc. With the disruption of supply chains across the globe, numerous physical business places are closed. Banks are the backbone of the economy. Their stability is critical to continue the system up and to run.

Practical implications: The banking sector aims to supply funding to anyone, say corporate or individuals. The decelerate pace can guide prospective job losses, ground stress in banks’ retail loan books. The banks should design a plan to shield employees and their customers from its spread. It has hit the scope to individuals, small- and medium-sized enterprises, and large corporate. The only obvious thing is that every group has faced an income crunch that threatens economic and financial market permanence.

Significance: The relevance of this study stands on the fact that Covid-19 has begun as a health crisis, quickly extended into a business crisis. This is often not only a health crisis but also depression. The outbreak of Covid-19 has created a huge impact on nations. The nationwide lockdowns have almost faded social and economic life. The global economy was hit hard by the continued coronavirus. The whole world is passing through great uncertainty. As a result, various services sectors, banking sectors, and financial services have suffered through various ups and downs, resulting in economic stress. The uncertain and risky environment has had a severe impact on banks’ asset quality. The coronavirus outburst influenced financial markets and consumer emotions as well.

Details

Big Data: A Game Changer for Insurance Industry
Type: Book
ISBN: 978-1-80262-606-3

Keywords

Book part
Publication date: 29 July 2019

Marina L. Alpidovskaya and Dmitry P. Sokolov

The postindustrial economy did not take the place of previous types of economy. More than that, by definition, it hasn't become “post”-industrial in point of fact…

Abstract

The postindustrial economy did not take the place of previous types of economy. More than that, by definition, it hasn't become “post”-industrial in point of fact: relations with regard to the production of tangible goods define the imperative of industrialism, yet with a modern science and technology stage of development. The present-day production becomes increasingly automated, leading to the absence of demand for psychophysiological properties of man and labor in general. At the same time, highly qualified personnel who are able to control complex information management systems come to the fore. New types of energy and manmade materials appear; socioeconomic human living environment becomes more complicated. These processes are an objective phenomenon. However, the technological revolution is manifested differently in the “central” and “peripheral” countries. In the Russian Federation, formation of the innovational takes place in the conditions of integration of the resource model and opposition of the institutes that fund it. The crisis stimulates the conceptual search and does not deny the scientifically based classics.

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