Search results for " IMPACT"
showing 10 items of 1078 documents
The socioeconomic impacts of local energy programmes: a case study of Avrig, Romania
2014
Purpose – The purpose of this paper is to investigate the expected economic and social effects of the “Local Energy Plan” – a programme of the local administration that aims to transform the Romanian town Avrig until 2020 into an energy independent town relying exclusively on renewable energy resources. Design/methodology/approach – The study uses a mixed-method approach to investigate the effects of a small town's transition to renewable energy. This approach consists of a series of in-depth interviews with the local authorities, investors, other representatives of the business sector and citizens of Avrig and economic modelling to determine the direct effects generated by the implementat…
The Economic Impact of Visitors at Major Multi-sport Events
2005
Abstract This paper examines the economic impact of major multi-sport event on affected people. Their spending increases the economic benefit for the city and region staging the event. Therefore a theoretical differentiation of movements of persons affected by the event was done. A model was worked out to detect the regional primary economic impact through these people. This primary impact can be used in any model of economic impact analysis, such as input–output frameworks or multiplier theory. The complexities in considering the right persons and their spending are analysed and described in detail. A special focus is placed on the evaluation of opportunity costs on people that get crowded…
Percepciones de los residentes sobre el turismo deportivo: impactos, calidad de vida y apoyo al sector
2020
El sector del turismo deportivo recibe cada vez una mayor atención por parte de los distintos agentes sociales, teniendo un alto impacto en distintas esferas de la sociedad. El turismo no sólo afecta a las actitudes de los residentes hacia su desarrollo, sino también a su calidad de vida en general. Una vez que una comunidad o población se convierte en un destino turístico, la calidad de vida de los residentes locales se ve afectada por el desarrollo del mismo. Por consiguiente, es relevante conocer cuáles son las percepciones de los residentes respecto al impacto que causa el turismo deportivo. Por ello, el objetivo del presente estudio es analizar las percepciones de los residentes de Gra…
The Evaluation of the Cultural Industries Impacts on the Local Economies: The Teatro Massimo Foundation
2022
Thanks to its relevant positive effects, the cultural industry, including the Opera Houses, is becoming increasingly important for economic and social well-being. On the other hand, given their cultural relevance and the high costs, these activities require the support of public funds. This evidence generates the need to quantify the economic benefits deriving from its activities to evaluate the opportunity and the return of the public financial support. The study analyses the case of the Fondazione Teatro Massimo di Palermo offering an estimate of the economic, occupational, and fiscal impact on the municipal, provincial, regional, and national territories. The results show how the Opera H…
Residents' perceptions of the economic impact of sports tourism. Differences according to the geographical location of the town
2018
Sports tourism has become a major tourist draw in recent decades. People are increasingly in favour of hosting such activities, given the many benefits it can bring to the community. The economic impact of such events is known but not the perceptions that residents have about this type of impact. Researchers also highlight the differences that the populations may have according to the geographical area where they are located and their influence on sports tourism activities. Therefore, the aim of the study is to investigate residents' perceptions of the economic impact of sports tourism according to the population of residence, differentiating between rural, urban and coastal populations. A …
Impact of COVID-19 on the travel and tourism industry.
2021
Abstract Our paper is among the first to measure the potential effects of the COVID-19 pandemic on the tourism industry. Using panel structural vector auto-regression (PSVAR) (Pedroni, 2013) on data from 1995 to 2019 in 185 countries and system dynamic modeling (real-time data parameters connected to COVID-19), we estimate the impact of the pandemic crisis on the tourism industry worldwide. Past pandemic crises operated mostly through idiosyncratic shocks' channels, exposing domestic tourism sectors to large adverse shocks. Once domestic shocks perished (zero infection cases), inbound arrivals revived immediately. The COVID-19 pandemic, however, is different; and recovery of the tourism ind…
Travel and Tourism as a Driver of Economic Recovery
2013
Abstract Nowadays countries are trying to overcome the adverse effects of this crisis but have failed to recover their positions due to severe recession and worsening economic conditions. Tourism can be one of the pillars that should be supported by governments around the world as part of the solution to stimulate economic growth. The paper examines the economic impact of tourism industry worldwide and with a focus to Romania. It also advances some solutions for the design of a more effective and efficient policy framework in order to take a proactive stance in tailoring policies and development of the tourism sector.
Life cycle assessment of low temperature asphalt mixtures for road pavement surfaces: A comparative analysis
2018
The increasing fuel consumption demand, the accelerated pressure imposed by the depletion of 5 scarce raw materials and the urgent environmental protection requirements are forcing the change of 6 pavement industry and academia community’s research endeavors towards the development of low 7 emissions road paving technologies able to significantly reduce mixing and compaction temperature as 8 well as the consumption of virgin raw materials. One set of relatively recent technologies in the field of 9 pavement materials that aims at addressing those concerns are the warm mix asphalt (WMA). In fact, 10 they have the potential to allow the reduction of energy consumption and airborne emissions d…
Why is equity order flow so persistent?
2015
Abstract Order flow in equity markets is remarkably persistent in the sense that order signs (to buy or sell) are positively autocorrelated out to time lags of tens of thousands of orders, corresponding to many days. Two possible explanations are herding, corresponding to positive correlation in the behavior of different investors, or order splitting, corresponding to positive autocorrelation in the behavior of single investors. We investigate this using order flow data from the London Stock Exchange for which we have membership identifiers. By formulating models for herding and order splitting, as well as models for brokerage choice, we are able to overcome the distortion introduced by bro…
How does learning affect market liquidity? A simulation analysis of a double-auction financial market with portfolio traders
2007
We study the relationship between liquidity and prices in an artificial financial market where portfolio traders with limited resources interact through a continuous, electronic open book. We depart from the standard asset pricing framework in two ways. First, we assume that investors have incomplete information about the distribution of returns. Second, we model the portfolio choice problem using prospect-type preferences. We model the utility function in terms of deviations of the portfolio growth rate from a specified target growth rate, and we assume that investors are more sensitive to downside movements. We show that the parameters defining the learning process affect the price dynami…