Search results

The purpose of this paper is to investigate the problem of fiscal sustainability for a panel of developing Asian economies.

In this study, cross-section dependence and heterogeneity are controlled while estimating the fiscal reaction function, which shows how governments react to the accumulation of public debt. The study employs the common correlated effects mean group estimator in Pesaran (2006) for a panel of 22 developing Asian economies for the period 1999‒2017.

It is found that the fiscal sustainability issue in the region is not so benign as in previous studies. Overall, fiscal policy is unsustainable, even for the nonlinear fiscal rule. Country-specific long-run coefficients are also examined in the study.

The findings show that many developing economies in the region could not satisfy the intertemporal budget constraint, which raises concerns about debt sustainability in the area, especially for the post-crisis period.

This study investigates whether governments can maintain the sustainability of public finances in the long-run, if the ratios of public debt over GDP and primary deficit over GDP continue their recent problematic trends. Another novelty is controlling for heterogeneous effects among the countries in the region to give a more precise picture of debt sustainability. The empirical evidence also supports that insolvency risk can occur at low levels of public debt.

Blockchain-based traceability technology (BTT) is an emerging digital technology that claims to have the potential to fulfil the demand for traceability to safeguard fruit safety. Drawing on the technological, organisational and environmental (TOE) framework, this study aims to investigate the perceived facilitators and barriers that influence the behavioural intentions of multiple stakeholders in the Vietnamese fruit supply chain (i.e., farmers, trading enterprises and consumers) to adopt BTT.

This study utilised a qualitative approach of semi-structured in-depth interviews with 60 stakeholders in the Vietnamese fruit supply chain to achieve the research objectives. NVivo 12 was employed to analyse the collected data using content and thematic analysis.

The findings identify several perceived facilitators that motivate BTT adoption. These include trust, transparency, business performance, the formation of alliances, consumer awareness of food safety and ethical agricultural practices, fruit branding and the pivotal role of farmers' cooperatives. Meanwhile, the perceived barriers to BTT adoption include a lack of digital literacy amongst the stakeholders, poor organisational culture, the high cost of traceability-enabled products and data privacy and security governance.

This study suggests that technology awareness and perceived facilitators and barriers should be incorporated into the design and deployment of blockchain-based traceability technology in the agri-food supply chain in developing countries.

To the best of the authors' knowledge, this study is the first qualitative paper that attempts to fill the research gap of understanding the perceived facilitators and barriers that influence the intentions of multiple stakeholders in the fruit supply chain to adopt BTT in the context of a developing economy.

The purpose of this paper is to examine the impacts of fiscal policy, namely, net tax and government expenditure on national saving and its nonlinearity. The author first investigates whether the impacts of fiscal policy on national saving have changed after the global financial crisis of 2008. Then, the author tests the nonlinearity of the relationship by taking account of the economic cycle, namely, economic expansion (boom) and economic recession (bust).

The empirical model bases on a reduced-form equation with national saving as a dependent variable, lagged value of national saving, output gap and fiscal policy as independent variables. The two-step system GMM approach was employed to estimate the empirical model, using a panel of 23 emerging Asian economies in the period of 1990-2015.

The empirical results show that tax policy and expenditure policy follow the predictions of the overlapping generation model with finite horizon and the Keynesian view. The nonlinearity of fiscal policy is twofold. The conduct of fiscal policy in the period after 2008 seems effective, while the effect is insignificant in the period before 2008. Likewise, fiscal policy tends to have more significant effects in bust cycle. The effect of tax policy is increased during recession, while the effect of government spending is more pronounced during economic downturn.

The contributions of this paper are twofold. First, it is shown that fiscal policies in the region had more impacts on national saving after the global financial crisis of 2008. Second, the research confirms nonlinear impact of fiscal policy on saving behavior during economic recession and economic boom.

Quality control of arc welding process is the key component in robotic welding system. The purpose of this paper is to address vision‐sensing technology and model‐free adaptive control (MFC) of weld pool size during automatic arc welding system.

The shape and size parameters for the weld pool are used to describe the weld pool geometry, which is specified by the backside weld width. The welding current and wire‐feeding speed are selected as the control variable, and the backside width of weld pool is selected as the controlled variable. To achieve the goal of full penetration and fine weld seam formation, a multiple input single output (MISO) MFC is designed for control of the backside pool width.

The research findings show that it is feasible to develop such a MISO MFC of weld pool size, which is independent on mathematic model of weld pool dynamics. And the control algorithm is simple to use and has a minimal computational burden.

This is a work in progress. The controlled process results are mainly influenced by the period of competing control algorithm and image processing, which could be improved by the hardware and enhancing computation speed. The closed‐loop control is a two inputs‐one output system. Thus, the means by which the multiple input multiple output (MIMO) control method is applied to weld pool dynamics is work for the future.

The control system is applicable to automatic gas tungsten arc welding (GTAW).

The MISO MFC has been set up for automatic GTAW to overcome the nonlinear and uncertainty of GTAW process, in which two welding parameters can be adjusted simultaneously. In addition, this controller is independent on welding pool dynamic model.