Plenary Lecture

Sustainable Socioeconomic Development - Ecological Perspective

Professor Rossitsa Yalamova
Faculty of Management
University of Lethbridge

Abstract: The objective of this research is to develop a theoretical framework for polycentric governance of socio - economic systems to achieve sustainable economic development. The goal is to understand the structure and dynamics of the economic (sub)system in order to develop indicators of potential instabilities and intervention strategies to build resilience (avoid fragility). This research will examine self-similarity of the institutional structures and their interrelationships that self-organize in a complex adaptive system. North (1996) asserts that institutions are transformations of the belief structures into society and economy. Ostrom and Janssen (2004) and Ostrom (1989) question the efficacy of institutions based primarily on command and control and argue for multilevel governance in complex socio-ecological systems. The necessity of resilience building in this framework arises from the nature of the system. Complexity and non-linear dynamics defy control. Piecewise solutions to disconnected problems in single parts of the system will fail to provide expected results.

Brief Biography of the Speaker: ROSSITSA M. YALAMOVA is an associate professor of Finance at the University of Lethbridge in Alberta, Canada. She holds a Ph.D. in finance from Kent State University and MD from Saint Petersburg State Medical Academy, Russia. Her research has been published in The Journal of Behavioral Finance, Fractals, Investment Management and Financial Innovations, International Research Journal of Finance and Economics, and the Asian Academy of Management Journal of Accounting & Finance. She is interested in market crashes, non-linear dynamics, and dialectical approach to financial economics theory, complex networks and chaos. She was a visiting professor in the Facolta di Scienze Economiche, Universita della Svizzera Italiana, Lugano, Switzerland in 2009/10. Dr. Yalamova participated in 2011 Global Sustainability Summer School in Brunei and 2012 Adaptive Economic Dynamics Summer School in Trento, Italy. Dr. Yalamova extended her research agenda to global sustainability problems. She has also added her research expertise in natural sciences to establish collaborations among researchers in different areas of sustainability. My goal is to encourage system thinking and collaborative effort not only in finding solutions to the complex problems inflicted by the rapidly diminishing carrying capacity of the Earth, but also the implementation of policies and practices that will foster sustainability in all aspects of human activity.

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