Search results for: bilateral trade
960 Regime under Trade Related Intellectual Property Rights Agreement 1994 and Its Impacts on Health in Pakistan: A Case Study of Pharmaceutical Patents
Authors: Muhammad Danyal Khan
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The standards of patentability are drawing a great impact upon medicine industry of Pakistan which is indirectly troubling the right to health of ordinary citizen. Globalization of intellectual property laws is directly impacting access to medicine for population in Pakistan. Pakistan has enacted Patent Ordinance 2000 to develop the standards of Patent laws in consonance with international commitments. Moreover, Pakistan is signatory to UN Millennium Development Goals (2000-2015), and three of them directly put stress upon the health standards. This article will provide a critical brief about implications of TRIPS Agreement on standards of health in Pakistan and will also propose a futuristic approach for the pharmaceutical industry. This paper will define the paradox of globalization and national preparedness on pharmaceutical patents utilizing industry statistics and case laws from Pakistan. Moreover, this work will contribute towards debate on access to medicine at legislative and interpretative levels that will further help development of equilibrium between pharmaceutical patents and right to health.Keywords: TRIPS (Trade Related Intellectual Property Rights), patents, compulsory licensing, patent, lifesaving drugs, WTO, infringement
Procedia PDF Downloads 216959 Information Technology: Assessing Indian Realities Vis-à-Vis World Trade Organisation Disciplines
Authors: Saloni Khanderia
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The World Trade Organisation’s (WTO) Information Technology Agreement (ITA), was concluded at the Singapore Ministerial Conference in 1996. The ITA is considered to be one of the biggest tariff-cutting deals because it eliminates all customs-related duties on the exportation of specific categories of information technology products to the territory of any other signatory to the Agreement. Over time, innovations in the information and communication technology (ICT) sector mandated the consideration of expanding the list of products covered by the ITA, which took place in the form of ITA-II negotiations during the WTO’s Nairobi Ministerial Conference. India, which was an original Member of the ITA-I, however, decided to opt-out of the negotiations to expand the list of products covered by the agreement. Instead, it preferred to give priority to its national policy initiative, namely the ‘Make-in-India’ programme [the MiI programme], which embarks upon fostering the domestic production of, inter alia, the ICT sector. India claims to have abstained from the ITA-II negotiations by stating that the zero-tariff regime created by the ITA-I debilitated its electronics-manufacturing sectors and on the contrary resulted in an over-reliance on imported electronic inputs. The author undertakes doctrinal research to examine India’s decision to opt-out of ITA-II negotiations, against the backdrop of the MiI Programme, which endeavours to improve productivity across-the-board. This paper accordingly scrutinises the tariff-cutting strategies of India to weigh the better alternative for India. Apropos, it examines whether initiatives like the MiI programme could plausibly resuscitate the ailing domestic electronics-manufacturing sector. The author opines that the country’s present decision to opt-out of ITA-II negotiations should be perceived as a welcome step. Thus, market-oriented reforms such as the MiI Programme, which focuses on indigenous innovation to improve domestic manufacturing in the ICT sector, should instead, in the present circumstances gain priority. Consequently, the MiI Programme would aid in moulding the country’s current tariff policy in a manner that will concurrently assist the promotion and sustenance of domestic manufacturing in the IT sector.Keywords: electronics-manufacturing sector, information technology agreement, make in india programme, world trade organisation
Procedia PDF Downloads 230958 Analysis of Fuel Adulteration Consequences in Bangladesh
Authors: Mahadehe Hassan
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In most countries manufacturing, trading and distribution of gasoline and diesel fuels belongs to the most important sectors of national economy. For Bangladesh, a robust, well-functioning, secure and smartly managed national fuel distribution chain is an essential precondition for achieving Government top priorities in development and modernization of transportation infrastructure, protection of national environment and population health as well as, very importantly, securing due tax revenue for the State Budget. Bangladesh is a developing country with complex fuel supply network, high fuel taxes incidence and – till now - limited possibilities in application of modern, automated technologies for Government national fuel market control. Such environment allows dishonest physical and legal persons and organized criminals to build and profit from illegal fuel distribution schemes and fuel illicit trade. As a result, the market transparency and the country attractiveness for foreign investments, law-abiding economic operators, national consumers, State Budget and the Government ability to finance development projects, and the country at large suffer significantly. Research shows that over 50% of retail petrol stations in major agglomerations of Bangladesh sell adulterated fuels and/or cheat customers on the real volume of the fuel pumped into their vehicles. Other forms of detected fuel illicit trade practices include misdeclaration of fuel quantitative and qualitative parameters during internal transit and selling of non-declared and smuggled fuels. The aim of the study is to recommend the implementation of a National Fuel Distribution Integrity Program (FDIP) in Bangladesh to address and resolve fuel adulteration and illicit trade problems. The program should be customized according to the specific needs of the country and implemented in partnership with providers of advanced technologies. FDIP should enable and further enhance capacity of respective Bangladesh Government authorities in identification and elimination of all forms of fuel illicit trade swiftly and resolutely. FDIP high-technology, IT and automation systems and secure infrastructures should be aimed at the following areas (1) fuel adulteration, misdeclaration and non-declaration; (2) fuel quality and; (3) fuel volume manipulation at retail level. Furthermore, overall concept of FDIP delivery and its interaction with the reporting and management systems used by the Government shall be aligned with and support objectives of the Vision 2041 and Smart Bangladesh Government programs.Keywords: fuel adulteration, octane, kerosene, diesel, petrol, pollution, carbon emissions
Procedia PDF Downloads 78957 Effectiveness of Adrenal Venous Sampling in the Management of Primary Aldosteronism: Single Centered Cohort Study at a Tertiary Care Hospital in Sri Lanka
Authors: Balasooriya B. M. C. M., Sujeeva N., Thowfeek Z., Siddiqa Omo, Liyanagunawardana J. E., Jayawardana Saiu, Manathunga S. S., Katulanda G. W.
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Introduction and objectives: Adrenal venous sampling (AVS) is the gold standard to discriminate unilateral primary aldosteronism (UPA) from bilateral disease (BPA). AVS is technically demanding and only performed in a limited number of centers worldwide. To the best of our knowledge, Except for one study conducted in India, no other research studies on this area have been conducted in South Asia. This study aimed to evaluate the effectiveness of AVS in the management of primary aldosteronism. Methods: A total of 32 patients who underwent AVS at the National Hospital of Sri Lanka from April 2021 to April 2023 were enrolled. Demographic, clinical and laboratory data were obtained retrospectively. A procedure was considered successful when adequate cannulation of both adrenal veins was demonstrated. Cortisol gradient across the adrenal vein (AV) and the peripheral vein was used to establish the success of venous cannulation. Lateralization was determined by the aldosterone gradient between the two sides. Continuous and categorical variables were summarized with mean, SD, and proportions, respectively. The mean and standard deviation of the contralateral suppression index (CSI) were estimated with an intercept-only Bayesian inference model. Results: Of the 32 patients, the average age was 52.47 +26.14 and 19 (59.4%) were males. Both AVs were successfully cannulated in 12 (37.5%). Among them, lateralization was demonstrated in 11(91.7%), and one was diagnosed as a bilateral disease. There were no total failures. Right AV cannulation was unsuccessful in 18 (56.25%), of which lateralization was demonstrated in 9 (50%), and others were inconclusive. Left AV cannulation was unsuccessful only in 2 (6.25%); one was lateralized, and the other remained inconclusive. The estimated mean of the CSI was 0.33 (89% credible interval 0.11-0.86). Seven patients underwent unilateral adrenalectomy and demonstrated significant improvement in blood pressure during follow-up. Two patients await surgery. Others were treated medically. Conclusions: Despite failure due to procedural difficulties, AVS remained useful in the management of patients with PA. Moreover, the success of the procedure needs experienced hands and advanced equipment to achieve optimal outcomes in PA.Keywords: adrenal venous sampling, lateralization, contralateral suppression index, primary aldosteronism
Procedia PDF Downloads 66956 Extensive Cerebral Venous Thrombosis after Resection of Third Ventricle Colloid Cyst
Authors: Naim Izet Kajtazi
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Context: The third ventricle colloid cyst (CC) is a benign growth usually located in the third ventricle and can cause various neurological symptoms, including sudden death. Modern surgical interventions may still result in a wide range of complications and cerebral venous thrombosis (CVT) is among them. Process: A 38-year-old female with an existing diagnosis of diabetes mellitus (DM) and hypothyroidism and a six-month history of headaches, blurred vision, and vomiting presented to our clinic three days after the headaches became excessively severe. Neurological examination on admission revealed bilateral papilledema without any associated focal neurological deficits. Brain computed tomography (CT) and magnetic resonance imaging (MRI) confirmed the presence of a third ventricle colloid cyst and associated non-communicating hydrocephalus involving the lateral ventricles. As a result, the patient underwent emergency bilateral external ventricular drainage (EVD) insertion followed by a third ventricular CC excision under neuronavigation through a right frontal craniotomy. Twelve days post-operatively, the patient developed further headaches, followed by a generalized tonic-clonic seizure that led to no postictal neurological deficits. Nonetheless, computed tomography venography of the brain revealed extensive thrombosis of the superior sagittal sinus, inferior sagittal sinus, right sigmoid sinus, and right internal jugular vein. A newly diagnosed CVT was treated with intravenous heparin. The patient was discharged with warfarin, which was discontinued after 12 months. Ten years after her illness, she remained stable and free from any neurological deficits but still suffered from mild chronic headaches. Outcome: Ten years after her illness, she remained stable and free from any neurological deficits but still suffered from mild chronic headaches. Relevance: A preoperative venous study should be performed in all cases to gain a better understanding of the venous anatomy. We advocate meticulous microsurgical techniques to protect the venous system surrounding the foramen of Monro and reduce the amount of retraction during surgery.Keywords: CVT, seizures, third ventricle colloid cyst, MRI of brain
Procedia PDF Downloads 72955 Economic Isolation in the Globalised World Order: A Case Study of North Korea
Authors: Nizika Sorokhaibam
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With the collapse of the Soviet Union in 1989, that marked the end of the prolonged struggle of ideologies between capitalism of the United States of America and communism of the Soviet Union, the world entered a new era of free markets, trade and economic liberalization. Through analysis of various literatures on North Korea, this study focuses on the impact of Globalization on North Korea- its people, economy and the regime. The study also takes a glance at the Juche ideology, which was crafted by the Supreme Leader Kim Il Sung, for the people of DPRK and its role and influence in shaping the North Korean economy. The new buzz word being Globalization, as businesses started to expand on international scale, demanding the need for co-operation, connectivity and interdependence of countries around the world. States tilted their focus towards industrialization, production of raw materials, production of goods to meet the growing demands and grabbing markets for the manufactured products. This became the norm as many newly independent countries adopted democracy and aligned their views with globalization processes. Socialist and communist regimes either fell one after the other to join the globalization trend or reformed their economic system to meet the globalization trends. However, even after staying isolated for more than six decades, Democratic People’s Republic of Korea, the Hermit Kingdom, refuses to open up its economy to the globalised world. North Korean regime still controls all the sectors of the country and no trade and investment freedom is given to the people. North Korea vigorously makes efforts to emphasize on its Juche ideology of self-sustenance and self-reliance to keep away from actively engaging in global trade and process of globalization, which they refer to as “Americanization” of the world. Nevertheless, the reality is that North Korea’s economy is not self sustained and is collapsing from within, which led them to solicit foreign aid from the United States of America, South Korea (Republic of Korea) and People’s Republic of China. The regime needs to implement reforms and make adjustments for the economy to survive in the competing world.Keywords: economic globalization, economic isolation, Juche, North Korea
Procedia PDF Downloads 272954 Quality of Life in People with Hearing Loss: A Study of Patients Referred to an Audiological Service
Authors: Peder O. Laugen Heggdal, Oyvind Nordvik, Jonas Brannstrom, Flemming Vassbotn, Anne Kari Aarstad, Hans Jorgen Aarstad
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Background: Hearing loss (HL) affect people of all ages and stages in life. To author's best knowledge, if patients with an HL have reduced Generic Quality of life (QoL), has yet not been answered. Aim: The aim of the present study was to investigate the relationship between HL and generic and disease-specific Health Related Quality of Life (HRQoL) in adult patients (aged 18–78 years) with an HL, seeking Hearing Aid (HA). Material and Methods: 158 adult (aged 18-78 years) patients with HL, referred for HA fitting at Haukeland University Hospital in western Norway, participated in the study. Both first-time users, as well as patients referred for HA renewals, were included. First-time users had been pre-examined by an Ear Nose and Throat specialist. The questionnaires were answered before the actual HA fitting procedure. The pure-tone average (PTA; frequencies 0.5, 1, 2 and 4 kHz) was determined for each ear. The generic European Organization for Research and Treatment of Cancer (EORTC) Quality of Life Questionnaire general part and a shortened version of the Abbreviated Profile of Hearing Aid Benefit (APHAB) were answered. In addition, EORTC HRQoL answers from a general population and patients with former head and neck cancer served as comparison. Results: In general, no lowered HRQoL scores were determined among HL patients compared to the general population. Patients with unilateral HL to some extent showed lower HRQoL than those with bilateral HL (social function and fatigue). The APHAB scores correlated significantly with the EORTC HRQoL scores. By stepwise linear regression analysis, the APHAB scores were scored secondary to PTA (best ear), cognitive and physical function. Conclusion: HRQoL scores in HL patients, in general, seems to be at the population level, but the unilateral HL patients scored to some extent lower than the bilateral HI patients. APHAB and generic QoL scores levels are associated. Both HRQoL and APHAB scores are generated more complexly than anticipated.Keywords: quality of life, hearing loss, hearing impairment, distress, depression, anxiety, hearing aid
Procedia PDF Downloads 293953 A Study Concerning Foreign Worker Migration in Thailand
Authors: Napatsorn Suput-Anyaporn
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This paper aimed to investigate multilateral relationships across the factors which included labor shortage, trade union, turnover rate of employee, labor law and regulation, and effectiveness of foreign worker administration in the scope of foreign workers in the industrial manufacturing sector of Thailand. The research employed both quantitative and qualitative approaches, in which foreign workers from Myanmar, Laos and Cambodia in the industrial manufacturing sector in selected areas of Thailand were sampled for the quantitative data collection, and persons in the chief executive management and the supervisor levels, and persons in the academic area in relation with foreign workers were selected as the sample for the qualitative data collection method. Thus, a questionnaire, in-depth interview and focus group were utilized as tools in this research paper. The discussion placed an emphasis on the fact that Thailand should design more effective law and regulations for the foreign workers administration and management in response to preparing for the coming ASEAN Economic Community with the declaration of the free- flow labor movement policy.Keywords: industrial manufacturing sector, labor law and regulation, labor shortage, migrant worker, trade union, turnover rate of employee
Procedia PDF Downloads 412952 Cauda Equina Syndrome: An Audit on Referral Adequacy and its Impact on Delay to Surgery
Authors: David Mafullul, Jiang Lei, Edward Goacher, Jibin Francis
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PURPOSE: Timely decompressive surgery for cauda equina syndrome (CES) is dependent on efficient referral pathways for patients presenting at local primary or secondary centres to tertiary spinal centres in the United Kingdom (UK). Identifying modifiable points of delay within this process is important as minimising time between presentation and surgery may improve patient outcomes. This study aims to analyse whether adequacy of referral impacts on time to surgery in CES. MATERIALS AND METHODS: Data from all cases of confirmed CES referred to a single tertiary UK hospital between August 2017 to December 2019, via a suspected CES e-referral pathway, were obtained retrospectively. Referral adequacy was defined by the inclusion of sufficient information to determine the presence or absence of several NICE ‘red flags’. Correlation between referral adequacy and delay from referral-to-surgery was then analysed. RESULTS: In total, 118 confirmed CES cases were included. Adequate documentation for saddle anaesthesia was associated with reduced delays of more than 48 hours from referral-to-surgery [X2(1, N=116)=7.12, p=.024], an effect partly attributable to these referrals being accepted sooner [U=16.5; n1=27, n2=4, p=.029, r=.39]. Other red flags had poor association with delay. Referral adequacy was better for somatic red flags [bilateral sciatica (97.5%); severe or progressive bilateral neurological deficit of the legs (95.8%); saddle anaesthesia (91.5%)] compared to autonomic red flags [loss of anal tone (80.5%); urinary retention (79.7%); faecal incontinence or lost sensation of rectal fullness (57.6%)]. Although referral adequacy for urinary retention was 79.7%, only 47.5% of referrals documented a post-void residual numerical value. CONCLUSIONS: Adequate documentation of saddle anaesthesia in e-referrals is associated with reduced delay-to-surgery for confirmed CES, partly attributable to these referrals being accepted sooner. Other red flags had poor association with delay to surgery. Referral adequacy for autonomic red flags, including documentation for post-void residuals, has significant room for improvement.Keywords: cauda equina, cauda equina syndrome, neurosurgery, spinal surgery, decompression, delay, referral, referral adequacy
Procedia PDF Downloads 43951 Approach to Freight Trip Attraction Areas Classification, in Developing Countries
Authors: Adrián Esteban Ortiz-Valera, Angélica Lozano
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In developing countries, informal trade is relevant, but it has been little studied in urban freight transport (UFT) context, although it is a challenge due to the non- contemplated demand it produces and the operational limitations it imposes. Hence, UFT operational improvements (initiatives) and freight attraction models must consider informal trade for developing countries. Afour phasesapproach for characterizing the commercial areas in developing countries (considering both formal and informal establishments) is proposed and applied to ten areas in Mexico City. This characterization is required to calculate real freight trip attraction and then select and/or adapt suitable initiatives. Phase 1 aims the delimitation of the study area. The following information is obtained for each establishment of a potential area: location or geographic coordinates, industrial sector, industrial subsector, and number of employees. Phase 2 characterizes the study area and proposes a set of indicators. This allows a broad view of the operations and constraints of UFT in the study area. Phase 3 classifies the study area according to seven indicators. Each indicator represents a level of conflict in the area due to the presence of formal (registered) and informal establishments on the sidewalks and streets, affecting urban freight transport (and other activities). Phase 4 determines preliminary initiatives which could be implemented in the study area to improve the operation of UFT. The indicators and initiatives relation allows a preliminary initiatives selection. This relation requires to know the following: a) the problems in the area (congested streets, lack of parking space for freight vehicles, etc.); b) the factors which limit initiatives due to informal establishments (reduced streets for freight vehicles; mobility and parking inability during a period, among others), c) the problems in the area due to its physical characteristics; and d) the factors which limit initiatives due to regulations of the area. Several differences in the study areas were observed. As the indicators increases, the areas tend to be less ordered, and the limitations for the initiatives become higher, causing a smaller number of susceptible initiatives. In ordered areas (similar to the commercial areas of developed countries), the current techniquesfor estimating freight trip attraction (FTA) can bedirectly applied, however, in the areas where the level of order is lower due to the presence of informal trade, this is not recommended because the real FTA would not be estimated. Therefore, a technique, which consider the characteristics of the areas in developing countries to obtain data and to estimate FTA, is required. This estimation can be the base for proposing feasible initiatives to such zones. The proposed approach provides a wide view of the needs of the commercial areas of developing countries. The knowledge of these needs would allow UFT´s operation to be improved and its negative impacts to be minimized.Keywords: freight initiatives, freight trip attraction, informal trade, urban freight transport
Procedia PDF Downloads 143950 Urbanization Effects on the Food-Water-Energy Nexus within Ecosystem Services: A Case Study of the Beijing-Tianjin-Hebei Urban Agglomeration in China
Authors: Ke Yang, QiHan, Bauke de Veirs
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This study addresses the need for coordinated management of natural resources in urban agglomeration. Using ecosystem services theory, The study explore the relationship between land use in the Beijing-Tianjin-Hebei (B-T-H) region and the Food-Water-Energy (F-W-E) nexus from 2000 to 2030. We assess ecosystem services using the InVEST: Habitat Quality (HQ), Water Yield (WY), Carbon Sequestration (CS), Soil Retention (SDR), and Food Production (FP). The study find an annual expansion of construction land alongside a significant decline in cultivated land. Additionally, HQ, CS, and per capita FP decline annually until 2020 and are expected to persist through 2030. In contrast, WY and SDR grow annually but may decline by 2030. Spearman coefficient analysis reveals synergies between HQ and CS, SDR and CS, and SDR and HQ, with trade-offs between CS and WY and HQ and WY. Utilizing the K-means clustering analysis method, we introduce county-based spatial planning for the F-W-E system, offering valuable insights and recommendations for sustainable resource management.Keywords: food-water-energy (F-W-E), ecosystem services, trade-offs and synergies, ecosystem service bundle, county-based
Procedia PDF Downloads 63949 Comparative Analysis between Thailand and the United States of a Wholesale Exemption for Vertical Restraint Regarding Intellectual Property Licensing
Authors: Sanpetchuda Krutkrua, Suphawatchara Malanond
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Competition law is not a new thing in Thailand. Thailand first passed the first competition law during the Second World War in order to stop business operator monopolizing food and basic living supplies. The competition law in Thailand has been amended several times during the past eighty years in order to make it suitable for the current economic and social condition. In 2017, Thailand enacted the current Trade Competition Act of B.E. 2560, which contain several changes to the regime in order to enhance a prevention of collusive practices and monopolization through both vertical restraints and horizontal restraints. Section 56 of the Act provides exemptions for the vertical relationship; i.e., the arrangement in form of complementary relationship, between business operators, franchising agreements between franchisor and franchisee, and licensing agreement between licensor and licensee. The key is that such agreements must not be excessive, create monopolization or attempt to monopolize, or cause any impacts the consumers regarding price, quality, quantity of the goods. The goal of the paper is to explore the extent of the exemption under Section 56 and its sequential regulations regarding vertical trade restraints in the case intellectual property licensing. The research will be conducted in form of a comparative analysis on exemptions for collusive practices under the United States Antitrust law and the Thai Competition Act of B.E. 2560. The United Antitrust law, fairly similar to the Thai Competition Act of B.E. 2561, views the intellectual property licensing to have pro-competitive benefits to the market as long as the intellectual property licensing agreement does not harm the competition amongst the business operators that could have or would have been competitors. The United States Antitrust law identifies the relationship between the parties of the agreement whether such agreement is horizontal or vertical or both. Even though the nature of licensing agreements is primarily vertical, the relationship between licensor and licensees can also be horizontal if they could have been potential competitors in the market as well. The United States Antitrust law frowns upon, if not prohibits, the horizontal restraints regarding the intellectual property licensing but does not impose the same restrictions on the vertical trade restraints regarding intellectual property licensing.Keywords: antitrust, competition law, vertical restraint, intellectual property, intellectual property licensing, comparative law
Procedia PDF Downloads 165948 Innovation in "Low-Tech" Industries: Portuguese Footwear Industry
Authors: Antonio Marques, Graça Guedes
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The Portuguese footwear industry had in the last five years a remarkable performance in the exportation values, the trade balance and others economic indicators. After a long period of difficulties and with a strong reduction of companies and employees since 1994 until 2009, the Portuguese footwear industry changed the strategy and is now a success case between the international players of footwear. Only the Italian industry sells footwear with a higher value than the Portuguese and the distance between them is decreasing year by year. This paper analyses how the Portuguese footwear companies innovate and make innovation, according the classification proposed by the Oslo Manual. Also analyses the strategy follow in the innovation process, as suggested by Freeman and Soete, and shows the linkage between the type of innovation and the strategy of innovation. The research methodology was qualitative and the strategy for data collection was the case study. The qualitative data will be analyzed with the MAXQDA software. The economic results of the footwear companies studied shows differences between all of them and these differences are related with the innovation strategy adopted. The companies focused in product and marketing innovation, oriented to their target market, have higher ratios “turnover per worker” than the companies focused in process innovation. However, all the footwear companies in this “low-tech” industry create value and contribute to a positive foreign trade of 1.310 million euros in 2013. The growth strategies implemented has the participation of the sectorial organizations in several innovative projects. And it’s obvious that cooperation between all of them is a critical element to the performance achieved by the companies and the innovation observed. Can conclude that the Portuguese footwear sector has in the last years an excellent performance (economic results, exportation values, trade balance, brands and international image) and his performance is strongly related with the strategy in innovation followed, the type of innovation and the networks in the cluster. A simplified model, called “Ace of Diamonds”, is proposed by the authors and explains the way how this performance was reached by the seven companies that participate in the study (two of them are the leaders in the setor), and if this model can be used in others traditional and “low-tech” industries.Keywords: footwear, innovation, “low-tech” industry, Oslo manual
Procedia PDF Downloads 381947 The Tourism in the Regional Development of South Caucasus
Authors: Giorgi Sulashvili, Vladimer Kekenadze, Olga Khutsishvili, Bela Khotenashvili, Tsiuri Phkhakadze, Besarion Tsikhelashvili
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The article dealt with the South Caucasus is a complex economic policy, which consists of strands: The process of deepening economic integration in the South Caucasus region; deepening economic integration with the EU in the framework of "Neighbourhood policy with Europe" and in line with the Maastricht criteria; the development of bilateral trade and economic relations with many countries of the world community; the development of sufficient conditions for the integration of the South Caucasus region in the world to enter the market. According to the author, to determine the place of Georgia in the regional policy of the South Caucasus, it is necessary to consider two views about Georgia: The first is the view of Georgia, as a part of global economic and political processes and the second look at Georgia, as a country located in the geo-economic and geopolitical space of the South Caucasus. Such approaches reveal the place of Georgia in two dimensions; in the global and regional economies. In the countries of South Caucasus, the tourism has been developing fast and has a great social and economic importance. Tourism influences deeply on the social and economic growth of the regions of the country. Tourism development formulates thousand new jobs, fixes the positions of small and middle businesses, ensures the development of the education and culture of the population. In the countries of South Caucasus, the Tourist Industry can be specified as the intersectoral complex, which consists of travel transport and it’s technical service network, tourist enterprises which are specialized in various types, wide network services. Tourists have a chance to enjoy all of these services. At the transitional stage of shifting to the market economy, tourism is among the priorities in the development of the national economy of our country. It is true that the Georgian tourism faces a range of problems at present, but its recognition and the necessity for its development may be considered as a fact. Besides, we would underline that the revitalization of the Georgian tourism is not only the question of time. This area can bring a lot of benefits as to private firms, as to specific countries. It also has many negative effects were conducted fundamental research and studies to consider both, positive and negative impacts of tourism. In the future such decisions will be taken that will bring, the maximum benefit at minimum cost, in order for tourism to take its place in Georgia it is necessary to understand the role of the tourism sector in the economic structure.Keywords: transitional stage, national economy, Georgian tourism, positive and negative impacts
Procedia PDF Downloads 398946 Evolution of Economic Urban Spaces: Barcelona's Trafalgar Garment District, 1940-2017
Authors: Rafael Vicente Salar
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Cities are steadily transforming their productive systems based on value-adding strategies, with the aim of becoming more competitive in a globalized economy. This fact is reflected in inner urban spaces which are increasingly accommodating new economic activities related to knowledge, culture, creativity, and tourism, to the detriment of traditional activities. This is the case of the Trafalgar Garment District (TGD), located in Barcelona´s Eixample Dret neighborhood, an economic urban space historically devoted to the garment wholesale trade. This district is currently experiencing the transformation of its traditional economic specialization. In the last 50 years, external and internal factors have caused, firstly, the disintegration of the Catalonian garment regional cluster. This has resulted in the closure of the majority of metropolitan garment workshops. Secondly, this has also caused either the disappearance of wholesale firms or their relocation to more suitable spaces in the metropolitan area. Specifically, the TGD's economic restructuration is related to the attraction of firms related to the lodging industry and the new economy. In addition, some of the wholesale businesses are adopting new management strategies in order to remain in the TGD. These initiatives are thought to allow them, on one hand, to upgrade their products and, on the other, to reconfigure their internal organization in order to be more competitive.Keywords: Barcelona, garment district, new economy, tourism, garmen wholesale trade
Procedia PDF Downloads 212945 Cartagena Protocol and Beyond: Issues and Challenges in the Nigeria's Response to Biosafety
Authors: Dalhat Binta Dan - Ali
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The reality of the new world economic order and the ever increasing importance of biotechnology in the global economy have necessitated the ratification of the Cartagena Protocol on Biosafety and the recent promulgation of Biosafety Act in Nigeria 2015. The legal regimes are anchored on the need to create an enabling environment for the flourishing of bio-trade and also to ensure the safety of the environment and human health. This paper critically examines the legal framework on biosafety by taking a cursory look at its philosophical foundation, key issues and milestones. The paper argues that the extant laws, though a giant leap in the establishment of a legal framework on biosafety, it posits that the legal framework raises debate and controversy on the difficulties of risk assessment on biodiversity and human health, other challenges includes lack of sound institutional capacity and the regimes direction of a hybrid approach between environmental conservation and trade issues. The paper recommend the need for the country to do more in the area of stimulating awareness and establishment of a sound institutional capacity to enable the law ensure adequate level of protection in the field of safe transfer, handling, and use of genetically modified organisms (GMOs) in Nigeria.Keywords: Cartagena protocol, biosafety, issues, challenges, biotrade, genetically modified organism (GMOs), environment
Procedia PDF Downloads 327944 A Range of Steel Production in Japan towards 2050
Authors: Reina Kawase
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Japan set the goal of 80% reduction in GHG emissions by 2050. To consider countermeasures for reducing GHG emission, the production estimation of energy intensive materials, such as steel, is essential. About 50% of steel production is exported in Japan, so it is necessary to consider steel production including export. Steel productions from 2005-2050 in Japan were estimated under various global assumptions based on combination of scenarios such as goods trade scenarios and steel making process selection scenarios. Process selection scenarios decide volume of steel production by process (basic oxygen furnace and electric arc furnace) with considering steel consumption projection, supply-demand balance of steel, and scrap surplus. The range of steel production by process was analyzed. Maximum steel production was estimated under the scenario which consumes scrap in domestic steel production at maximum level. In 2035, steel production reaches 149 million ton because of increase in electric arc furnace steel. However, it decreases towards 2050 and amounts to 120 million ton, which is almost same as a current level. Minimum steel production is under the scenario which assumes technology progress in steel making and supply-demand balance consideration in each region. Steel production decreases from base year and is 44 million ton in 2050.Keywords: goods trade scenario, steel making process selection scenario, steel production, global warming
Procedia PDF Downloads 385943 The Ancient Port of Gaza 'Anthedon' and Relationship with Mediterranean Basin Ports
Authors: Ayman Hassouna
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Gaza was famous in the history of trade, because it lies at the end of overland trade route, then the goods transferred by Gazzian merchants to different places around the Mediterranean, so it is described as ‘Mediterranean port of Arabs’, but Gaza is not located directly at the sea shore, so it is fortified by two ports: the first is Anthedon, and second is Maiomas. It is possible to dig in Anthedon but it is too difficult to do that in Maiomas because the site is full of modern buildings. Archaeological excavations at Anthedon's port provided us much archaeological and historical information about cooperation between Anthedon's port and different places at the Mediterranean basin. This research speaks about the roots of Anthedon's name, and it is related with other names in Greek land, by use different dictionaries language, and produce historical introduction were covering the ages beginning from the Iron Age to Greek, Roman and Byzantine periods. Then the study reviewed the most important architectural discoveries in the site, and highlighted the relationship with the civilizations' ports of the Mediterranean basin by studying number of artefacts pottery were imported from different places as Cyprus, Greece, Italy, North Africa, Carthage and Tripoli workshops. On the other hand, the archaeologists discovered some of local pottery made in Gaza at different sites on the Mediterranean basin which confirms the relationship of Gaza merchants with those areas. At the end of this study, there are some conclusions and recommendations about the site.Keywords: ancient port of Gaza, pottery typology, Mediterranean basin ports, Palestine archaeology
Procedia PDF Downloads 361942 Assessing the Impact of Renewable Energy on Regional Sustainability: A Comparative Study of Suwon and Seoul
Authors: Jongsoo Jurng
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The drive to expand renewable energies is often in direct conflict with sustainable development goals. Thus, it is important that energy policies account for potential trade-offs. We assess the interlinkages between energy, food, water, and land, for two case studies, Suwon and Seoul. We apply a range of assessment methods and study their usefulness as tools to identify trade-offs and to compare the sustainability performance. We calculate cross-sectoral footprints, self-sufficiency ratios and perform a simplified Energy-Water-Food nexus analysis. We use the latter for assessing scenarios to increase energy and food self-sufficiency in Suwon, while we use ecosystem service (ESS) accounting for Seoul. For Suwon, we find that constraints on the energy, food and water sectors urgently call for integrated approaches to energy policy; for Seoul, the further expansion of renewables comes at the expense of cultural and supporting ESS, which could outweigh gains from increased energy exports. We recommend a general upgrade to indicators and visualization methods that look beyond averages and a fostering of infrastructure for data on sustainable development based on harmonized international protocols. We warn against rankings of countries or regions based on benchmarks that are neither theory-driven nor location-specific.Keywords: ESS, renewable energy, energy-water-food nexus, assessment
Procedia PDF Downloads 137941 Potential of the Bri and the Indo-Pacific in South Asia: A Comparative Case Study
Authors: Nahian Salsabeel, Faria Leera
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—“Whoever controls the Indian Ocean, dominates Asia. This ocean is the key to the seven seas. In the 21st century, the destiny of the world will be decided on its waters” -Alfred Mahan South Asia is increasingly becoming a hub for international politics. Numerous ventures are taking place in the strategic region. Of them, the most prominent is the Belt and Road Initiative (BRI). Originating from the concept of ancient Silk Route, the Chinese Xi Jin Ping regime looks to reestablish the vast connectivity project to connect the world through infrastructure and trade. On the other hand, the US, teamed up with India, Australia and Japan, thereby forming the Quad, have launched their own foreign policy, the Indo-Pacific Strategy. The ambitious 21st century initiative for the development of maritime trade, security and governance focuses critical importance to the Indo-Pacific region, especially to South Asia. Against the backdrop of contemporary political scenario, both the Quad and China airs to establish their own footprint across the region through respective mega projects, the Indo-Pacific Strategy and the BRI. This research employs a comparative case study research method, using a secondary research design. The paper looks at the variety of opportunities and challenges posed by the BRI and the Indo Pacific, and gives the comparative study on both ends.Keywords: BRI, Foreign Policy, Indo-Pacific, South Asia
Procedia PDF Downloads 155940 Determinant Factor Analysis of Foreign Direct Investment in Asean-6 Countries Period 2004-2012
Authors: Eleonora Sofilda, Ria Amalia, Muhammad Zilal Hamzah
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Foreign direct investment is one of the sources of financing or capital that important for a country, especially for developing countries. This investment also provides a great contribution to development through the transfer of assets, management improving, and transfer of technology in enhancing the economy of a country. In the other side currently in ASEAN countries emerge the interesting phenomenon where some big producers are re-locate their basic production among those countries. This research is aimed to analyze the factors that affect capital inflows of foreign direct investment into the 6 ASEAN countries (Indonesia, Malaysia, Singapore, Thailand, Philippines, and Vietnam) in period 2004-2012. This study uses panel data analysis to determine the factors that affect of foreign direct investment in 6 ASEAN. The factors that affect of foreign direct investment (FDI) are the gross domestic product (GDP), global competitiveness (GCI), interest rate, exchange rate and trade openness (TO). Result of panel data analysis show that three independent variables (GCI, GDP, and TO) have a significant effect to the FDI in 6 ASEAN Countries.Keywords: foreign direct investment, the gross domestic product, global competitiveness, interest rate, exchange rate, trade openness, panel data analysis
Procedia PDF Downloads 473939 An Evaluation of the Effects of Special Safeguards in Meat upon International Trade and the Brazilian Economy
Authors: Cinthia C. Costa, Heloisa L. Burnquist, Joaquim J. M. Guilhoto
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This study identified the impact of special agricultural safeguards (SSG) for the global market of meat and for the Brazilian economy. The tariff lines subject to SSG were selected and the period of analysis was 1995 (when the rules about the SSGs were established) to 2015 (more recent period for which there are notifications). The value of additional tariff was calculated for each of the most important tariff lines. The import volume and the price elasticities for imports were used to estimate the impacts of each additional tariff estimated on imports. Finally, the effect of Brazilian exports of meat without SSG taxes was calculated as well as its impact in the country’s economy by using an input-output matrix. The most important markets that applied SSGs were the U.S. for beef and European Union for poultry. However, the additional tariffs could be estimated in only two of the sixteen years that the U.S. applied SSGs on beef imports, suggesting that its use has been enforced when the average annual price has been higher than the trigger price level. The results indicated that the value of the bovine and poultry meat that could not be exported by Brazil due to SSGs to both markets (EU and the U.S.) was equivalent to BRL 804 million. The impact of this loss in trade was about: BRL 3.7 billion of the economy’s production value (at 2015 prices) and almost BRL 2 billion of the Brazilian Gross Domestic Product (GDP).Keywords: beef, poultry meat, SSG tariff, input-output matrix, Brazil
Procedia PDF Downloads 122938 Red Dawn in the Desert: A World-Systems Analysis of the Maritime Silk Road Initiative
Authors: Toufic Sarieddine
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The current debate on the hegemonic impact of China’s Belt and Road Initiative (BRI) is of two opposing strands: Resilient and absolute US hegemony on the one hand and various models of multipolar hegemony such as bifurcation on the other. Bifurcation theories illustrate an unprecedented division of hegemonic functions between China and the US, whereby Beijing becomes the world’s economic hegemon, leaving Washington the world’s military hegemon and security guarantor. While consensus points to China being the main driver of unipolarity’s rupturing, the debate among bifurcationists is on the location of the first rupture. In this regard, the Middle East and North Africa (MENA) region has seen increasing Chinese foreign direct investment in recent years while that to other regions has declined, ranking it second in 2018 as part of the financing for the Maritime Silk Road Initiative (MSRI). China has also become the top trade partner of 11 states in the MENA region, as well as its top source of machine imports, surpassing the US and achieving an overall trade surplus almost double that of Washington’s. These are among other features outlined in world-systems analysis (WSA) literature which correspond with the emergence of a new hegemon. WSA is further utilized to gauge other facets of China’s increasing involvement in MENA and assess whether bifurcation is unfolding therein. These features of hegemony include the adoption of China’s modi operandi, economic dominance in production, trade, and finance, military capacity, cultural hegemony in ideology, education, and language, and the promotion of a general interest around which to rally potential peripheries (MENA states in this case). China’s modi operandi has seen some adoption with regards to support against the United Nations Convention on the Law of the Sea, oil bonds denominated in the yuan, and financial institutions such as the Shanghai Gold Exchange enjoying increasing Arab patronage. However, recent elections in Qatar, as well as liberal reforms in Saudi Arabia, demonstrate Washington’s stronger normative influence. Meanwhile, Washington’s economic dominance is challenged by China’s sizable machine exports, increasing overall imports, and widening trade surplus, but retains some clout via dominant arms and transport exports, as well as free-trade deals across the region. Militarily, Washington bests Beijing’s arms exports, has a dominant and well-established presence in the region, and successfully blocked Beijing’s attempt to penetrate through the UAE. Culturally, Beijing enjoys higher favorability in Arab public opinion, and its broadcast networks have found some resonance with Arab audiences. In education, the West remains MENA students’ preferred destination. Further, while Mandarin has become increasingly available in schools across MENA, its usage and availability still lag far behind English. Finally, Beijing’s general interest in infrastructure provision and prioritizing economic development over social justice and democracy provides an avenue for increased incorporation between Beijing and the MENA region. The overall analysis shows solid progress towards bifurcation in MENA.Keywords: belt and road initiative, hegemony, Middle East and North Africa, world-systems analysis
Procedia PDF Downloads 109937 Addressing Food Grain Losses in India: Energy Trade-Offs and Nutrition Synergies
Authors: Matthew F. Gibson, Narasimha D. Rao, Raphael B. Slade, Joana Portugal Pereira, Joeri Rogelj
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Globally, India’s population is among the most severely impacted by nutrient deficiency, yet millions of tonnes of food are lost before reaching consumers. Across food groups, grains represent the largest share of daily calories and overall losses by mass in India. If current losses remain unresolved and follow projected population rates, we estimate, by 2030, losses from grains for human consumption could increase by 1.3-1.8 million tonnes (Mt) per year against current levels of ~10 Mt per year. This study quantifies energy input to minimise storage losses across India, responsible for a quarter of grain supply chain losses. In doing so, we identify and explore a Sustainable Development Goal (SDG) triplet between SDG₂, SDG₇, and SDG₁₂ and provide insight for development of joined up agriculture and health policy in the country. Analyzing rice, wheat, maize, bajra, and sorghum, we quantify one route to reduce losses in supply chains, by modelling the energy input to maintain favorable climatic conditions in modern silo storage. We quantify key nutrients (calories, protein, zinc, iron, vitamin A) contained within these losses and calculate roughly how much deficiency in these dietary components could be reduced if grain losses were eliminated. Our modelling indicates, with appropriate uncertainty, maize has the highest energy input intensity for storage, at 110 kWh per tonne of grain (kWh/t), and wheat the lowest (72 kWh/t). This energy trade-off represents 8%-16% of the energy input required in grain production. We estimate if grain losses across the supply chain were saved and targeted to India’s nutritionally deficient population, average protein deficiency could reduce by 46%, calorie by 27%, zinc by 26%, and iron by 11%. This study offers insight for development of Indian agriculture, food, and health policy by first quantifying and then presenting benefits and trade-offs of tackling food grain losses.Keywords: energy, food loss, grain storage, hunger, India, sustainable development goal, SDG
Procedia PDF Downloads 129936 Services Sector: A Growth Catalyst for Indian Economy since Economic Reform
Authors: Richa Rai
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The purpose of this study is to analyze the role of the services sector in economic development of Indian economy, especially in the post reform period. Due to adoption of liberalization policy in developing economy like India, international transaction in services has been increased at a rapid pace which compensated to the current account of Balance of Payment which was in a pitiable condition. But this increased share of services in GDP is not commensurate with share in employment, which is a matter of great concern for Indian economy. Although the increased share of service in GDP indicates the advanced stage of growth of the economy, but this theory is not applicable in context of Indian economy completely. In the preliminary stage, this study finds a positive correlation between growth of services and export earnings and gross domestic product and this growth of services is not equal in terms of all aspects on Indian economy, and also all components of services has not been increased at an equal rate. This paper seeks to examine the impact of liberalization in post reform era on the growth of services in India. The analysis is done for the period of 1991 to 2013. Data has been collected from the secondary sources, especially from the website of Reserve Bank of India, World Trade Organization, and United Nation Conference on Trade and Development. The data has been analyzed with the help of appropriate statistical tools (Causality Relation and Group t-test).Keywords: export earnings, GDP, gross domestic product, liberalization, services
Procedia PDF Downloads 137935 Effect of Cap and Trade Policies for Carbon Emission Reduction on Delhi Households
Authors: Vikram Singh
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This paper aims to take into account carbon tax or cap-and-trade legislation to manage Delhi carbon emissions after a post-Kyoto treaty. This report estimated the influence of the carbon taxes or rebate/compensation cost at the household level. Here, the three possible scenarios will help to comprehend the difference between a straightforward compensation/rebate, and two clearly denoting progressive formula. The straightforward compensation is basically minimizing the regressive applications that will bears on cost. On the other hand, both the progressive formula will generate extra revenue, which will help for feasibility of more efficient, vehicles, appliances and buildings in the low-income household. For the hypothetical case of carbon price $40/tonne, low-income household for both urban and rural region could experience price burden up to 5% and 9% on their income as compared to 3% and 7% for high-income household respectively. The survey report also shown that carbon emission due low-income household are primarily by the substantive requirement like housing and transportation whereas almost 40% emission due to high-income household are by luxurious and non-essential items. The equal distribution of revenue cum incentives will not completely overcome high-income household’s investment in inessential items. However, it will merely help in investing their income in energy efficient and less carbon intensive items. Therefore, the rebate distribution on per capita basis instead on per households will benefit more especially large families at low-income group.Keywords: household emission, carbon credit, carbon intensity, green house gas emission, carbon generation based insentives
Procedia PDF Downloads 435934 Trafficking, Forced Prostitution, and Minors in the Sex Trade in Post-Legalisation New Zealand
Authors: Natalie Thorburn
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New Zealand legalised and regulated prostitution 13 years ago with the hope of eradicating unsafe or exploitative practices in the sex trade, but the extent to which this has been successful has been hotly contested, with the New Zealand Government denying any existence of sex trafficking and evidence generally indicating the success of the 2004 reform. The aim of the research was therefore to establish the circumstances in which sex trafficking may be occurring without using any previously instrumental gatekeepers of the New Zealand sex industry. 14 survivors of gang, family, or intimate partner trafficking (all of whom had first been trafficked prior to the age of 16) were interviewed, as well as several key informants. It was found that there was a perceived lack of commitment by Police to investigate instances of trafficking, and this was considered to be linked to the legal status of prostitution. The lack of recognition at both community and political levels of the existence and prevalence of trafficking also meant that medical and social service practitioners were unaware trafficking was occurring, and would not know who to refer to if it was disclosed. Participants commonly normalised coercion into sex, seeing this as a continuation of prior sexually abusive experiences that were prevalent in their childhood and early adolescent environments. Their experiences with the helping services were typically either negative or non-existent, and they expressed frustration regarding the absence of justice, the lack of awareness, and health and outcomes they suffered in relation to their experiences of having been trafficked. Barriers to engagement and strategies to facilitate meaningful and sustainable engagement with this population group are therefore presented.Keywords: legalisation, regulation, service access, socio-political context
Procedia PDF Downloads 216933 Social Construction of Merantau in Minangkabau Society in Capital City of Indonesia, Jakarta
Authors: Arfan Fadli, Marini Kristina Situmeang, Mukhammad Fatkhullah, Siti Hazar Sitorus
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Merantau is one of the traditions that has been done by the Minangkabau tribe since the 15th century where it is based on socio-economic factors. In fact, that is not only limited to economic factors alone but more how to develop themselves through the experience to get the skills or education. The lack of jobs opportunity in the hometown causes the community, especially for young men to seek livelihoods in other areas. Unemployment impacts on the economy of the community that led to change in the pattern of employment from farmers to traders or new businesses in areas outside of their homeland. This is also worsened because many young people are not interested in becoming a farmer and working on the land in their village. In this context, merantau is considered to be an alternative to fulfilling livelihoods, and therefore this study examines how the merantau tradition constructed by the Minangkabau community, West Sumatera Province. The research method is done by literature review by collecting information related to the social construction of merantau tradition from various scientific publications. The results show how merantau becomes a solution of economic problems for Minangkabau society. Merantau which has now become an institutionalized tradition for the Minangkabau community where the culture of merantau occurred like a chain that can raise the people from the condition of poverty. When there are people who have successfully in merantau, they tend to bring other relatives who have not found a job to be able to trade with them. In the place of merantau, they will be disciplined to learn how to trade. Eventually, they will have new skills to trade and even make their own business. The tradition of bringing relatives to the rantau to be empowered is a unique side of merantau because it is influenced by the Matrilinear kinship system. The matrilineal kinship system in Minangkabau is the largest in the world where helping relatives are considered to be of the highest value. This system also places men as high positions where men should be encouraged to go abroad for financial success and to help their relatives in their hometown. The success of this tradition (to uplift and resolve the poverty and manpower issues) is demonstrated by the tradition of Minangkabau communities that have been successful in the area of Rantau that send money to their relatives in their homes (remittance). Merantau tradition can also be an alternative in reducing unemployment especially for young people where it is demonstrated by the culture of helping relatives to get work outside of their homeland.Keywords: matrilineal kinship system, merantau, minangkabau community, reducing unemployment
Procedia PDF Downloads 208932 Evaluation of the Cities Specific Characteristics in the Formation of the Safavid Period Mints
Authors: Mahmood Seyyed, Akram Salehi Heykoei, Hamidreza Safakish Kashani
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Among the remaining resource of the past, coins considered as an authentic documents among the most important documentary sources. The coins were minted in a place that called mint. The number and position of the mints in each period reflects the amount of economic power, political security and business growth, which was always fluctuated its position with changing the political and economic condition. Considering that, trade has more growth during the Safavid period than previous ones, the mint also has been in greater importance. It seems the one hand, the growth of economic in Safavid period has a direct link with the number and places of the mints at that time and in the other hand, the mints have been formed in some places because of the specific characteristic of cities and regions. Increasing the number of mints in the north of the country due to the growth of silk trade and in the west and northwest due to the political and commercial relation with Ottoman Empire, also the characteristics such as existence of mines, located in the Silk Road and communication ways, all are the results of this investigation. Accordingly, in this article researcher tries to examine the characteristics that give priority to a city for having mint. With considering that in the various historical periods, the mints were based in the most important cities in terms of political and social, at that time, this article examines the cities specific characteristics in the formation of the mints in Safavid period.Keywords: documentary sources, coins, mint, city, Safavid
Procedia PDF Downloads 268931 The Impact of Natural Resources on Financial Development: The Global Perspective
Authors: Remy Jonkam Oben
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Using a time series approach, this study investigates how natural resources impact financial development from a global perspective over the 1980-2019 period. Some important determinants of financial development (economic growth, trade openness, population growth, and investment) have been added to the model as control variables. Unit root tests have revealed that all the variables are integrated into order one. Johansen's cointegration test has shown that the variables are in a long-run equilibrium relationship. The vector error correction model (VECM) has estimated the coefficient of the error correction term (ECT), which suggests that the short-run values of natural resources, economic growth, trade openness, population growth, and investment contribute to financial development converging to its long-run equilibrium level by a 23.63% annual speed of adjustment. The estimated coefficients suggest that global natural resource rent has a statistically-significant negative impact on global financial development in the long-run (thereby validating the financial resource curse) but not in the short-run. Causality test results imply that neither global natural resource rent nor global financial development Granger-causes each other.Keywords: financial development, natural resources, resource curse hypothesis, time series analysis, Granger causality, global perspective
Procedia PDF Downloads 171