Search results for: credit utilisation

Authors: Obasi Igwe Oscar, Udokure Ubong James, Echebiri Raphael Ndubuisi

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The study examined the determinants of the welfare of itinerant palm oil marketers in Akwa Ibom State, Nigeria. Multistage sampling techniques were adopted to select 120 itinerant palm oil marketers for the study. Primary data were obtained using a structured questionnaire. Data were analyzed using the cost and returns formula and multiple regression model. Results showed that itinerant palm oil marketing was profitable and 57.39% efficient. The respondents' monthly expenditure of N111,787.90 on food and non-food items indicated that they live above the extreme poverty threshold of $2.15 per person per day, with a daily spending of over $2. Net income (P<0.05), age (P<0.01), educational level (P<0.01), household size (P<0.01), credit amount (P<0.01), market information (P<0.05), amount of tax paid (P<0.01) and the level of market participation (P<0.05) were the significant determinants of the welfare of itinerant traders in the study area. The study recommended that government and non-governmental organizations should make available marketing facilities and enhance transportation networks to reduce inefficiencies and lower transaction costs for itinerant palm oil traders in Akwa Ibom state.

Keywords: determinants, welfare, itinerant, palm oil, marketers

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Authors: Saman Naqvi

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Introduction: Telemedicine is the practise of providing remote healthcare to patients via the utilisation of communication technologies. Its application has become increasingly important since the Coronavirus Disease 2019 (COVID-19) pandemic. It is essential to determine the knowledge and attitudes of healthcare professionals concerning its use in order to maximise its application. Purpose: We aim to examine and evaluate the current understanding and perceptions of medical staff toward the use of telemedicine. Methods: In this cross-sectional study, we surveyed 1091 healthcare professionals worldwide. Following an extensive review of the literature, data were gathered using a questionnaire. To depict the participant profile, frequency, percentages, and cumulative percentages were determined. Results: The majority of respondents had either heard of (90.9%), seen (65.3%), or were familiar with (74.6%) how telemedicine is implemented in practice. 72.2% of people were familiar with the tools that could be applied to this technology. Those with a medical degree and experience of under five years were found to be more familiar with telemedicine. Additionally, opinions on providing healthcare remotely were largely favorable, with 80% of respondents stating that it reduced staff burden and 80.6% thinking that it eliminated unnecessary transportation costs. Furthermore, 83% expressed that it saves clinicians' time. However, 20% of participants believed telemedicine adds to staff workload and 40% of healthcare professionals felt it compromises patient privacy and information confidentiality. Conclusion: Despite being a new and developing practice in many countries, telemedicine appears to have a bright future. This is crucial during a pandemic as it provides effective healthcare while maintaining social isolation measures. Moreover, the majority of the participants in this study demonstrated a good understanding and a favorable attitude toward telemedicine.

Keywords: healthcare system, global survey, knowledge, attitude, covid 19, telemedicine

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Authors: P. K. Sarkar, Amit Kumar Jain

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The demand for Urban transportation is characterised by a large scale temporal and spatial variations which causes heavy congestion inside metro trains in peak hours near Centre Business District (CBD) of the city. The conventional approach to address peak hour congestion, metro trains has been to increase the supply by way of introduction of more trains, increasing the length of the trains, optimising the time table to increase the capacity of the system. However, there is a limitation of supply side measures determined by the design capacity of the systems beyond which any addition in the capacity requires huge capital investments. The demand side interventions are essentially required to actually spread the demand across the time and space. In this study, an attempt has been made to identify the potential Transport Demand Management tools applicable to Urban Rail Transportation systems with a special focus on differential pricing. A conceptual price elasticity model has been developed to analyse the effect of various combinations of peak and nonpeak hoursfares on demands. The elasticity values for peak hour, nonpeak hour and cross elasticity have been assumed from the relevant literature available in the field. The conceptual price elasticity model so developed is based on assumptions which need to be validated with actual values of elasticities for different segments of passengers. Once validated, the model can be used to determine the peak and nonpeak hour fares with an objective to increase overall ridership, revenue, demand levelling and optimal utilisation of assets.

Keywords: urban transport, differential fares, congestion, transport demand management, elasticity

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Authors: Takalani Tshitangano

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Background: In Limpopo province the rate of new tuberculosis (TB) cases increase daily. The Infection Control (IC) plan is one of the essential actions for TB IC. This study aimed to establish the availability of these plans at health care facilities. Objectives: The objectives were to explore and describe the awareness and knowledge of health care workers (HCWs) of the availability and content of TB IC plan; and to identity the role of infection control committees from the perspective of HCWs. Method: A qualitative approach using a cross-sectional descriptive design was adopted. The target population was all HCWs from the seven hospitals of Vhembe district. A purposive sampling approach was used to select 57 participants. The approval to conduct this study was obtained from the relevant authorities and participants. Data were collected through seven focus group discussions comprising five to 10 members. An unstructured discussion guide was used to collect data, and an open-coding method was used to analyse the data. Lincoln and Guba’s criteria ensured trustworthiness of the study findings. Results: Findings revealed that HCWs were not aware of the availability and the information contained in the TB IC plans. No person was designated as TB IC officer at hospital level. There was lack of a TB IC Committee and teams as well as ineffective utilisation of those that did exist. Conclusions: It was concluded that if the TB IC plans are not available at health care facilities, then the TB IC practices implemented by HCWs vary, resulting in TB nosocomial infection transmission. It was recommended that the World Health Organisation’s TB IC plans be adopted and implemented in Vhembe district.

Keywords: health care workers' awareness, health care workers' knowledge, availability of TB infection control plans, rural hospitals

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Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano

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This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.

Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage

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Authors: Iacopo Carnacina, Mohammad Keshtpoor, Richard Yablonsky

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Non-structural protection measures against flooding are becoming increasingly popular flood risk mitigation strategies. In particular, coastal flood insurance impacts not only private citizens but also insurance and reinsurance companies, who may require it to retain solvency and better understand the risks they face from a catastrophic coastal flood event. In this context, a framework is presented here to assess the risk for coastal flooding across the UK. The area has a long history of catastrophic flood events, including the Great Flood of 1953 and the 2013 Cyclone Xaver storm, both of which led to significant loss of life and property. The current framework will leverage a technology based on a hydrodynamic model (Delft3D Flexible Mesh). This flexible mesh technology, coupled with a calibration technique, allows for better utilisation of computational resources, leading to higher resolution and more detailed results. The generation of a stochastic set of extra tropical cyclone (ETC) events supports the evaluation of the financial losses for the whole area, also accounting for correlations between different locations in different scenarios. Finally, the solution shows a detailed analysis for the Thames River, leveraging the information available on flood barriers and levees. Two realistic disaster scenarios for the Greater London area are simulated: In the first scenario, the storm surge intensity is not high enough to fail London’s flood defences, but in the second scenario, London’s flood defences fail, highlighting the potential losses from a catastrophic coastal flood event.

Keywords: storm surge, stochastic model, levee failure, Thames River

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Authors: Adam Y. Sulaiman, Gerard I.Obasi, Roma Chang, Hussein Sayed Moghaieb, Ming J. Huang, Neil J. Hewitt

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Residential air-conditioning units are essential for quality indoor comfort in hot climate countries. Nevertheless, because of their non-renewable energy sources and the contribution of ecologically unfriendly working fluids, these units are a major source of CO2 emissions in these countries. The utilisation of sustainable technologies nowadays is essential to reduce the adverse effects of CO2 emissions by replacing conventional technologies. This paper investigates the feasibility of running an off-grid solar-powered air-conditioning bed unit using three low GWP refrigerants (R32, R290, and R600a) to supersede conventional refrigerants.A prototype air conditioning unit was built to supply cold air to a canopy that was connected to it. The assembled unit was designed to distribute cold air to a canopy connected to it. This system is powered by two 400 W photovoltaic panels, with battery storage supplying power to the unit at night-time. Engineering Equation Solver (EES) software is used to mathematically model the vapor compression cycle (VCC) and predict the unit's energetic and exergetic performance. The TRNSYS software was used to simulate the electricity storage performance of the batteries, whereas the IES-VE was used to determine the amount of solar energy required to power the unit. The article provides an analytical design guideline, as well as a comprehensible process system. Combining a renewable energy source to power an AC based-VCC provides an excellent solution to the real problems of high-energy consumption in warm-climate countries.

Keywords: air-conditioning, refrigerants, PV panel, energy storages, VCC, exergy

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Authors: Oladipo Joseph Ajayi, Yakubu Muhammed, Raufu Olusola Sanusi

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This study determined the perceived effect of livelihood diversification on welfare of rural household in Niger state, Nigeria. Multi-stage sampling technique was adopted for sampling the respondents. Data used for the study were obtained from primary source. Structured questionnaire with interview schedule was administered to 180 randomly selected rural farmers in the study area. Descriptive statistics analysis and z-test statistics were used to analyse the data collected. The study revealed the mean age of the household to be 43 years, mean years of schooling was 8.5, mean household size was 6 people, mean farming experience of 17.5 years and mean farm size of 1.8 hectares. The effect of livelihood diversification revealed that livelihood diversification had positive and significant effect on food security (65.6%) and income generation (66.8%) in the study area. The major constraints to diversification in the study area were poor infrastructure, unavailability of credit and climatic risk and uncertainty. The study, therefore, recommended that rural household should be sensitised to diversify their income source into non-farm activities.

Keywords: income, livelihood diversification , rural household, welfare

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Authors: Thomas Yeboah

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In recent times, micro-finance programmes targeting women have become the central means of donor poverty alleviation strategies. In view of the renewed focus on post-Millennium Development Goals (MDGs) poverty reduction strategies, there is the likelihood that funding might increase in the next coming decades to support different initiatives by donor agencies. In this paper, we critically examine the role of microfinance in shaping gender relations and empowerment outcomes of women. It is widely argued that providing and reaching out to women with credit methodologies serves as a means of increasing women’s bargaining power and challenging existing gender subordination thereby releasing them from power structures which dominate their lives. This paper cautions this view and instead show that the mainstream argument surrounding microfinance and gender empowerment is much complex than what the popular rhetoric preaches. Drawing on empirical cases on microfinance literature, we argue that lack of systematic strategy to incorporate men and the wider socio-cultural dynamics within which women’s lives are embedded radically constraints the empowerment potential of microcredit programmes and in some context may lead to unintended consequences for women.

Keywords: microfinance, empowerment, women, men, gender relations

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Authors: Markus Stralla

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This study employs a GMM framework to examine the impact of potential regulatory intervention regarding the occupations of supervisory board members in cooperative banking. To achieve insights, the study proceeds in two different ways. First, it investigates the changes in board structure prior and following to the German Act to Strengthen Financial Market and Insurance Supervision (FinVAG). Second, the study estimates the influence of Ph.D.Share, professional concentration and supervisory power on bank-risk changes in consideration of the implementation of FinVAG. Therefore, the study is based on a sample of 246 German cooperative banks from 2006-2011 while applying four different measures of bank risk, namely credit-, equity-, liquidity-risk, and Z-Score, with the former three also being addressed in FinVAG. Results indicate that the implementation of FinVAG results in (most likely unintentional) structural changes, especially at the expense of farmers, and affects all risk measures and relations between risk measures and supervisory board characteristics in a risk-reducing and therefore intended way. To disentangle the complex relationship between board characteristics and risk measures, the study utilizes two-step system GMM estimator to account for unobserved heterogeneity and simultaneity in order to reduce endogeneity problems. The findings may be especially relevant for stakeholders, regulators, supervisors and managers.

Keywords: bank governance, bank risk-taking, board of directors, regulation

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Authors: Adegbenga Ashiru, Adebimpe L. Ashiru

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The construction industry is considered to work by diversifying personnel. Hence managing human resource is an issue considered to be a highly challenging task. Nonetheless, HR planning for the construction project is a very critical aspect of managing human resource within an expanding nature of construction industry, and there are rising concerns over the failure of construction planning to achieve its goals in spite of the substantial resources allocated to it and as a result of different planning strategies. To justify the above statement, this research was carried out to examine the sustainability of HR planning for construction project. Based on the researcher’s experience, a quantitative approach was adopted that provided a broader understanding of the research and was analysed using descriptive statistics and inferential statistics. The Statistical Package for the Social Sciences (SPSS) was used to obtain the descriptive and inferential statistical analysis. However, research findings showed that literature sources agreed with varying challenges of HR planning on construction projects which were justified by empirical findings. Also, the paper identified four major factors and the key consideration for Project HR Planning (Organisation’s structure with right individuals at right positions and evaluation current resources) will lead to the efficient utilisation implementation of new HR Planning technique and tools for a construction project. Essentially the main reoccurring theme identified was that management of the construction organisations needs to look into the essential factors needed to be considered at the strategic level. Furthermore, leaders leading a construction project team should consider those essential factors needed at the operational level to clarify the numerous functions of HRM in the construction organisations and avoid inconsistencies among several practices on construction projects. The Sustainability of HR planning for construction project policy was indicated and recommendations were made for further future research.

Keywords: construction industry, HRM planning in construction, SHRM in construction, HR planning in construction

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Authors: S. Hussain, N. Ahmad, S. Alam, M. Bezabhi, W. H. Hendriks, P. Yu, J. W. Cone

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The high content of lignin in cell walls is the major limiting factor in the digestion and utilisation of cereal crop residues by ruminants. The aim of this study was to evaluate the effectiveness of the white rot fungus, Pleurotus ostreatus (P. ostreatus), to degrade lignin and to enhance the rumen degradability of maize stover, rice straw, wheat straw and their mixture in equal proportion on a dry-matter (DM) basis. Four samples of each substrate were incubated aerobically in triplicate with P. ostreatus for 0 (Control), 21, 28 and 35 days under solid-state conditions (temperature, 24 ͦ C; humidity, 70± 5%). The changes in chemical composition, DM and nutrient losses, and rumen fermentation characteristics using in vitro DM digestibility (DMD) and the in vitro gas production (GP) technique were measured. The results showed that incubation with P. ostreatus decreased (P < 0.001) the contents of neutral detergent fibre and lignin with a concomitant increase (P < 0.001) in the contents of ash and crude protein. The losses of nutrients differed (P < 0.001) among the straw types, with rice straw and maize stover showing the largest (P < 0.05) lignin degradation compared to wheat and mixed straws. The DMD and 72-h cumulative GP increased (P < 0.001) consistently with increasing fungal incubation period and for all substrates the highest values of DMD and GP were measured after 35 days of incubation with P. ostreatus. The lignin degradation was strongly associated with hemicellulose degradation (r = 0.71) across the various straws. Results of the present study demonstrated that incubation of low-quality crop residues with P. ostreatus under solid-state conditions upgrades their feeding value by reducing the content of lignin and increasing the content of crude protein and ruminal degradation.

Keywords: crop residues, lignin degradation, maize stovers, wheat straws, white rot fungi

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Authors: C. E. Ogbanje, S. A. N. D. Chidebelu, N. J. Nweze

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The study evaluated off-farm work and cost efficiency in staple food production among small-scale farmers in North Central Nigeria. Multistage sampling technique was used to select 360 respondents (participants and non-participants in off-farm work). Primary data obtained were analysed using stochastic cost frontier and test of means’ difference. Capital input was lower for participants (N2,596.58) than non-participants (N11,099.14). Gamma (γ) was statistically significant. Farm size significantly (p<0.01) increased cost outlay for participants and non-participants. Average input prices of enterprises one and two significantly (p<0.01) increased cost. Sex, household size, credit obtained, formal education, farming experience, and farm income significantly (p<0.05) reduced cost inefficiency for non-participants. Average cost efficiency was 11%. Farm capital was wasted. Participants’ substitution of capital for labour did not put them at a disadvantage. Extension agents should encourage farmers to obtain financial relief from off-farm work but not to the extent of endangering farm cost efficiency.

Keywords: cost efficiency, mean difference, North Central Nigeria, off-farm work, participants and non-participants, small-scale farmers

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Authors: M. Mulumpwa, W. W. L. Jere, M. Lazaro, A. H. N. Mtethiwa

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The study considered Seasonal Autoregressive Integrated Moving Average (SARIMA) processes to select an appropriate stochastic model to forecast the monthly data from the Lake Malawi water levels for the period 1986 through 2015. The appropriate model was chosen based on SARIMA (p, d, q) (P, D, Q)S. The Autocorrelation function (ACF), Partial autocorrelation (PACF), Akaike Information Criteria (AIC), Bayesian Information Criterion (BIC), Box–Ljung statistics, correlogram and distribution of residual errors were estimated. The SARIMA (1, 1, 0) (1, 1, 1)12 was selected to forecast the monthly data of the Lake Malawi water levels from August, 2015 to December, 2021. The plotted time series showed that the Lake Malawi water levels are decreasing since 2010 to date but not as much as was the case in 1995 through 1997. The future forecast of the Lake Malawi water levels until 2021 showed a mean of 474.47 m ranging from 473.93 to 475.02 meters with a confidence interval of 80% and 90% against registered mean of 473.398 m in 1997 and 475.475 m in 1989 which was the lowest and highest water levels in the lake respectively since 1986. The forecast also showed that the water levels of Lake Malawi will drop by 0.57 meters as compared to the mean water levels recorded in the previous years. These results suggest that the Lake Malawi water level may not likely go lower than that recorded in 1997. Therefore, utilisation and management of water-related activities and programs among others on the lake should provide room for such scenarios. The findings suggest a need to manage the Lake Malawi jointly and prudently with other stakeholders starting from the catchment area. This will reduce impacts of anthropogenic activities on the lake’s water quality, water level, aquatic and adjacent terrestrial ecosystems thereby ensuring its resilience to climate change impacts.

Keywords: forecasting, Lake Malawi, water levels, water level fluctuation, climate change, anthropogenic activities

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Authors: L. Totladze

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The role of financial sector in supporting economic growth and development is well acknowledged. The term spread (the difference between the yields on long-term and short-term Treasury securities) has been found useful for predicting economic variables as output growth, inflation, industrial production, consumption. The temp spread is one of the leading economic indicators according to NBER methodology. Leading economic indicators are widely used in forecasting of economic activity. Many empirical studies find that the term spread predicts future economic activity. The article shortly explains how the term spread might predict future economic activity. This paper analyses the dynamics of the spread between short and long-term interest rates in countries with transition economies. The research paper analyses term spread dynamics in Georgia and compare it with post-communist countries and transition economies spread dynamics. In Georgia, the banking sector plays an important and dominant role in the financial sector, especially with respect to the mobilization of savings and provision of credit and may impact on economic activity. For this purpose, we study the impact of the term spread on economic growth in Georgia.

Keywords: forecasting, leading economic indicators, term spread, transition economies

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Authors: Diana López-Soto, Soumaya Yacout, Francisco Ángel-Bello

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Although inventories are considered as stocks of money sitting on shelve, they are needed in order to secure a constant and continuous production. Therefore, companies need to have control over the amount of inventory in order to find the balance between excessive and shortage of inventory. The classification of items according to certain criteria such as the price, the usage rate and the lead time before arrival allows any company to concentrate its investment in inventory according to certain ranking or priority of items. This makes the decision making process for inventory management easier and more justifiable. The purpose of this paper is to present a new approach for the classification of new items based on the already existing criteria. This approach is called the Logical Analysis of Data (LAD). It is used in this paper to assist the process of ABC items classification based on multiple criteria. LAD is a data mining technique based on Boolean theory that is used for pattern recognition. This technique has been tested in medicine, industry, credit risk analysis, and engineering with remarkable results. An application on ABC inventory classification is presented for the first time, and the results are compared with those obtained when using the well-known AHP technique and the ANN technique. The results show that LAD presented very good classification accuracy.

Keywords: ABC multi-criteria inventory classification, inventory management, multi-class LAD model, multi-criteria classification

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Authors: Prandesha Govender, Chris Cloete

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Purpose: The objective of the paper is to develop a tool for the evaluation of the financial risk of a shopping center. Methodology: Important factors that indicate the success of a shopping center were identified from the available literature. Weights were allocated to these factors and a risk rating was calculated for 505 shopping centers in the largest province in South Africa by taking the factor scores, factor weights, and category weights into account. The ratings for ten randomly selected shopping centers were correlated with consumer feedback and standardized against the ECAI (External Credit Assessment Institutions) data for the same centers. The ratings were also mapped to corporates with the same risk rating to provide a better intuitive assessment of the meaning of the inherent risk of each center. Results: The proposed risk tool shows a strong linear correlation with consumer views and can be compared to expert opinions, such as that of fund managers and REITs. Interpretation of the tool was also illustrated by correlating the risk rating of selected shopping centers to the risk rating of reputable and established entities. Conclusions: The proposed Shopping Centre Risk Tool, used in conjunction with financial inputs from the relevant center, should prove useful to an investor when the desirability of investment in or expansion, renovation, or purchase of a shopping center is being considered.

Keywords: risk, shopping centres, risk modelling, investment, rating tool, rating scale

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Authors: Omolara Lade, David Oloke

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The approach to water management worldwide is currently in transition, with a shift from centralised infrastructures to greater consideration of decentralised technologies, such as rainwater harvesting (RWH). However, in Nigeria, implementation of sustainable water management, such as RWH systems, is inefficient and social, environmental and technical barriers, concerns and knowledge gaps exist, which currently restrict its widespread utilisation. This inefficiency contributes to water scarcity, water-borne diseases, and loss of lives and property due to flooding. Meanwhile, several RWH technologies have been developed to improve SWM through both demand and storm-water management. Such technologies involve the use of reinforced concrete cement (RCC) storage tanks, surface water reservoirs and ground-water recharge pits as storage systems. A framework was developed to assess the significance and extent of water management problems, match the problems with existing RWH-based solutions and develop a robust ready-to-use decision support tool that can quantify the costs and benefits of implementing several RWH-based storage systems. The methodology adopted was the mixed method approach, involving a detailed literature review, followed by a questionnaire survey of household respondents, Nigerian Architects and Civil Engineers and focus group discussion with stakeholders. 18 selection attributes have been defined and three alternatives have been identified in this research. The questionnaires were analysed using SPSS, excel and selected statistical methods to derive weightings of the attributes for the tool. Following this, three case studies were modelled using RainCycle software. From the results, the MDA model chose RCC tank as the most appropriate storage system for RWH.

Keywords: rainwater harvesting, modelling, hydraulic assessment, whole life cost, decision support system

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Authors: A. Van Staden, N. Purcell

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Spelling development is complex and multifaceted and relies on several cognitive-linguistic processes. This paper explored the spelling difficulties of English second language learners with auditory processing delays. This empirical study aims to address these issues by means of an intervention design. Specifically, the objectives are: (a) to develop and implement a multi-sensory spelling program for second language learners with auditory processing difficulties (APD) for a period of 6 months; (b) to assess the efficacy of the multi-sensory spelling program and whether this intervention could significantly improve experimental learners' spelling, phonological awareness, and processing (PA), rapid automatized naming (RAN), working memory (WM), word reading and reading comprehension; and (c) to determine the relationship (or interplay) between these cognitive and linguistic skills (mentioned above), and how they influence spelling development. Forty-four English, second language learners with APD were sampled from one primary school in the Free State province. The learners were randomly assigned to either an experimental (n=22) or control group (n=22). During the implementation of the spelling program, several visual, tactile and kinesthetic exercises, including the utilization of fingerspelling were introduced to support the experimental learners’ (N = 22) spelling development. Post-test results showed the efficacy of the multi-sensory spelling program, with the experimental group who were trained in utilising multi-sensory coding and fingerspelling outperforming learners from the control group on the cognitive-linguistic, spelling and reading measures. The results and efficacy of this multi-sensory spelling program and the utilisation of fingerspelling for hearing second language learners with APD open up innovative perspectives for the prevention and targeted remediation of spelling difficulties.

Keywords: English second language spellers, auditory processing delays, spelling difficulties, multi-sensory intervention program

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Authors: Haroon Mahmood, Christopher Gan, Cuong Nguyen

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Maturity transformation risk is highlighted as one of the major causes of recent global financial crisis. Basel III has proposed new liquidity regulations for transformation function of banks and hence to monitor this risk. Specifically, net stable funding ratio (NSFR) is introduced to enhance medium- and long-term resilience against liquidity shocks. Islamic banking is widely accepted in many parts of the world and contributes to a significant portion of the financial sector in many countries. Using a dataset of 68 fully fledged Islamic banks from 11 different countries, over a period from 2005 – 2014, this study has attempted to analyze various factors that may significantly affect the maturity transformation risk in these banks. We utilize 2-step system GMM estimation technique on unbalanced panel and find bank capital, credit risk, financing, size and market power are most significant among the bank specific factors. Also, gross domestic product and inflation are the significant macro-economic factors influencing this risk. However, bank profitability, asset efficiency, and income diversity are found insignificant in determining the maturity transformation risk in Islamic banking model.

Keywords: Basel III, Islamic banking, maturity transformation risk, net stable funding ratio

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Authors: Layal Mansour

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This paper breaks down Egypt’s financial crisis by constructing a customized financial stress index by including the vulnerable economic indicator “dollarization” as a vulnerable indicator in the credit and exchange sector. The Financial Stress Index for Egypt (FSIE) includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. It is calculated on a monthly basis from 2010 to December 2022, so to report the two recent world’s most devastating financial crises: Covid 19 crisis and Ukraine-Russia War, in addition to the local 2016 and 2022 financial crises. We proceed first by a graphical analysis then by empirical analysis in running under Vector Autoregression (VAR) Model, dynamic causality tests between foreign reserves, dollarization rate, and FSIE. The graphical analysis shows that unexpectedly, Egypt’s economy seems to be immune to internal economic/political instabilities, however it is highly exposed to the foreign and exchange market. Empirical analysis confirms the graphical observations and proves that dollarization, or more precisely debt in foreign currency seems to be the main trigger of Egypt’s current financial crisis.

Keywords: egypt, financial crisis, financial stress index, dollarization, VAR model, causality tests

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Authors: Meha Singla, Shankhadeep Chaudhuri, Yadunandan Batchu

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Rental Housing is a more cost effective and flexible housing solution for the low income families than home-ownership. While India is undergoing a new industrial metamorphosis with multiple government initiatives that emphasise on the growth of manufacturing sector through policy frameworks and corridor development proposals, there is going to be a huge influx of low-income working population to the upcoming urban centres. As per stats, about 70 per cent of the housing demand at these centres fall into the affordable segment. And in the midst of this rapid urbanisation and huge immigration of young population, there is a lack of proper rental housing framework in the country. A large number of immigrants will be unable to support home-ownership thereby leading to proliferation of slums in urban centres. As a result, there is a dire need for immediate articulation of a comprehensive rental housing policy and affordable housing initiatives. In this paper, CommonFloor attempts to analyse successful rental housing case studies of the world followed by establishing a correlation between the gap in urban rental housing stock and the per capita income statistics to devise rental housing affordability specific to major Indian cities (Delhi, Mumbai, Bangalore, Chennai). Further, with the corroboration of market price trends, it will try to locate feasible micro-markets for immediate rental housing action. Final research findings will provide key data points thereby helping to design the approach for efficient utilisation of unsold residential inventory in the country in order to compensate the rental housing deficiency. This data set is believed to express viable model(s) of the rental housing approach for the government and private participants.

Keywords: housing prices, migration of population, real estate, rental housing, rental markets, residential property market, urbanisation

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Authors: Samane Maroufi, Rasoul Khayyam Nekouei, Sajjad Mofarah

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Fabrication of the state-of-the-art portable pseudocapacitors with the desired transparency, mechanical flexibility, capacitance, and durability is challenging. In most cases, the fabrication of such devices requires critical elements which are either under the crisis of depletion or their extraction from virgin mineral ores have sever environmental impacts. This urges the use of secondary resources instead of virgin resources in fabrication of advanced devices. In this research, ultrathin films of defect-rich Mn1−x−y(CexLay)O2−δ with controllable thicknesses in the range between 5 nm to 627 nm and transmittance (≈29–100%) have been fabricated via an electrochemical chronoamperometric deposition technique using an aqueous precursor derived during the selective purification of rare earth oxide (REOs) isolated from end-of-life nickel-metal hydride (Ni-MH) batteries. Intercalation/de-intercalation of anionic O2− through the atomic tunnels of the stratified Mn1−x−y(CexLay)O2−δ crystallites was found to be responsible for outstanding areal capacitance of 3.4 mF cm−2 of films with 86% transmittance. The intervalence charge transfer among interstitial Ce/La cations and Mn oxidation states within the Mn1−x−y(CexLay)O2−δ structure resulted in excellent capacitance retention of ≈90% after 16 000 cycles. The synthesised transparent flexible Mn1−x−y(CexLay)O2−δ full-cell pseudocapacitor device possessed the energy and power densities of 0.088 μWh cm⁻² and 843 µW cm⁻², respectively. These values show insignificant changes under vigorous twisting and bending to 45–180° confirming these value-added materials are intriguing alternatives for size-sensitive energy storage devices. This research confirms the feasibility of utilisation of secondary waste resources for the fabrication of high-quality pseudocapacitors with engineered defects with the desired flexibility, transparency, and cycling stability suitable for size-sensitive portable electronic devices.

Keywords: pseudocapacitors, energy storage devices, flexible and transparent, sustainability

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Authors: Akanimo Emene, Robert Edyvean

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In developing countries, a low cost method of wastewater treatment is highly recommended. Adsorption is an efficient and economically viable treatment process for wastewater. The utilisation of this process is based on the understanding of the relationship between the growth environment and the metal capacity of the biomaterial. Luffa cylindrica (LC), a plant material, was used as an adsorbent in adsorption design system of heavy metals. The chemically modified LC was used to adsorb heavy metals ions, lead and cadmium, from aqueous environmental solution at varying experimental conditions. Experimental factors, adsorption time, initial metal ion concentration, ionic strength and pH of solution were studied. The chemical nature and surface area of the tissues adsorbing heavy metals in LC biosorption systems were characterised by using electron microscopy and infra-red spectroscopy. It showed an increase in the surface area and improved adhesion capacity after chemical treatment. Metal speciation of the metal ions showed the binary interaction between the ions and the LC surface as the pH increases. Maximum adsorption was shown between pH 5 and pH 6. The ionic strength of the metal ion solution has an effect on the adsorption capacity based on the surface charge and the availability of the adsorption sites on the LC. The nature of the metal-surface complexes formed as a result of the experimental data were analysed with kinetic and isotherm models. The pseudo second order kinetic model and the two-site Langmuir isotherm model showed the best fit. Through the understanding of this process, there will be an opportunity to provide an alternative method for water purification. This will be provide an option, for when expensive water treatment technologies are not viable in developing countries.

Keywords: adsorption, luffa cylindrica, metal-surface complexes, pH

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Authors: Kwanele Shishane

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Numerous countries are faced with challenges such as disease, poverty and other social ills and inadequate government support to meet the needs of the entire population. In developing countries, the concept of child-headed households has become a ubiquitous phenomenon and lived experience. As such, migration of children is common in these countries. This study aims to explore the lived experiences of unaccompanied adolescent migrant, with regards to the utilization of health care in South Africa. The objectives of the study are to examine the lived experiences of health care utilization by unaccompanied adolescent migrants; examine the predisposing, enabling and need factors influencing utilization of health care among unaccompanied adolescent migrants; examine the social and cultural influences on health care utilization among unaccompanied adolescent migrants; and identify the health system barriers to utilization of health care by unaccompanied adolescent migrants. Andersen and Newman’s Model of Health Care Utilization (1995) which explains factors determining the utilization of healthcare will provide the theoretical framework for the empirical investigation of this study. The target population for this study is unaccompanied adolescent migrants, seeking to access services from migrant service organizations in four provinces in South Africa (Limpopo, KwaZulu-Natal, Free State, and Gauteng). Participants will be selected using a purposive sampling procedure. A qualitative research approach utilizing a descriptive phenomenological epistemology will be utilized in this study. Data will be collected through conducting in-depth interviews and focus group discussions with unaccompanied migrant adolescents, to explore their lived experiences related to access and utilization of health care, as an unaccompanied migrant in SA. The qualitative data will be analysed using Tech’s (1990) thematic analytical approach.

Keywords: health care utilisation, unaccompanied migrant youth, South Africa, lived experiences

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Authors: Vithul Kalki

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The mainstream political economy failed to explain the nature and causes of systemic failures and thus to compare and comprehend how contemporary capitalist systems work. An alternative research framework of Critical Macro-Finance (CMF) is an attempt to collaborate political theory with post-Keynesian economics with an objective to find answers to unresolved questions that emerged since the international financial crisis and repeated failures of capital systems. This unorthodox approach brings out four main propositions, namely : (a) that the adoption of American financial practices has anchored financial globalization in market-based finance; (b) that global finance is a set of interconnected, hierarchical balance sheets, increasingly subject to time-critical liquidity; (c) that credit creation in market-based finance involves new forms of money; and (d) that market-based finance structurally requires a de-risking state capable both of protecting systemic liabilities and creating new investment opportunities. The ongoing discussion of CMF literature is yet to be tested or even fully framed. This qualitative paper will critically examine the CMF framework and will engage in discussions aiming to connect the CMF with theories of capitalism in a wider context to bring a holistic approach for analyzing contemporary financial capitalism.

Keywords: critical macro-finance, capitalism, financial system, comparative political economy

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Authors: Chittana Phompila

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The current increased population pushes increasing demands for natural resources and living space. In Laos, urban areas have been expanding rapidly in recent years. The rapid urbanization can have negative impacts on landscapes, including forest and agriculture lands. The primary objective of this research were to map current urban areas in a large city in Savannakhet province, in Laos, 2) to compare changes in urbanization between 1990 and 2018, and 3) to estimate forest and agriculture areas lost due to expansions of urban areas during the last over twenty years within study area. Landsat 8 data was used and existing GIS data was collected including spatial data on rivers, lakes, roads, vegetated areas and other land use/land covers). GIS data was obtained from the government sectors. Object based classification (OBC) approach was applied in ECognition for image processing and analysis of urban area using. Historical data from other Landsat instruments (Landsat 5 and 7) were used to allow us comparing changes in urbanization in 1990, 2000, 2010 and 2018 in this study area. Only three main land cover classes were focused and classified, namely forest, agriculture and urban areas. Change detection approach was applied to illustrate changes in built-up areas in these periods. Our study shows that the overall accuracy of map was 95% assessed, kappa~ 0.8. It is found that that there is an ineffective control over forest and land-use conversions from forests and agriculture to urban areas in many main cities across the province. A large area of agriculture and forest has been decreased due to this conversion. Uncontrolled urban expansion and inappropriate land use planning can lead to creating a pressure in our resource utilisation. As consequence, it can lead to food insecurity and national economic downturn in a long term.

Keywords: urbanisation, forest cover, agriculture areas, Landsat 8 imagery

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Authors: Marwen Ghouil, Jamel Eddine Mkadmi

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Banking performance is the pillar and goal of all banking activity and its impact on economic policy. First, researchers defined the principles for assessing and modeling bank performance, and then theories and models explaining bank performance were developed. The importance of credit as a means of financing businesses in most developing countries has led to questions about the effects of financial liberalisation on increased banking competition. In Tunisia, as in many other countries, the liberalization of financial services in general and of banks' activities has not ceased to evolve. The objective of this paper is to examine the determinants of banking performance for 8 Tunisian banks and their impact on economic policy during the Arab Spring. We used cointegration analysis and the ARDL Panel model, explaining using total assets, bank credits, guarantees, and bank size as performance drivers. The correlation analysis shows that there is a positive correlation relationship between total assets, bank credits, guarantees, and bank size and bank performance. Long-term empirical results show that bank loans, guarantees, bank size, and total assets have a positive and significant impact on bank performance. This means that bank credits, guarantees, bank size, and total assets are very important determinants of bank performance in Tunisia.

Keywords: bank performance, economic policy, finance, economic

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Authors: Frankie Burgos, Emely Munar, Conrado Basa

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This paper aimed at developing an artificial neural network (ANN) model specifically for the Philippine Stock Exchange index closing value. The inputs to the ANN are US Dollar and Philippine Peso(USD-PHP) exchange rate, GDP growth of the country, quarterly inflation rate, 10-year bond yield, credit rating of the country, previous open, high, low, close values and volume of trade of the Philippine Stock Exchange Index (PSEi), gold price of the previous day, National Association of Securities Dealers Automated Quotations (NASDAQ), Standard and Poor’s 500 (S & P 500) and the iShares MSCI Philippines ETF (EPHE) previous closing value. The target is composed of the closing value of the PSEi during the 627 trading days from November 3, 2011, to May 30, 2014. MATLAB’s Neural Network toolbox was employed to create, train and simulate the network using multi-layer feed forward neural network with back-propagation algorithm. The results satisfactorily show that the neural network developed has the ability to model the PSEi, which is affected by both internal and external economic factors. It was found out that the inputs used are the main factors that influence the movement of the PSEi closing value.

Keywords: artificial neural networks, artificial intelligence, philippine stocks exchange index, stocks trading

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Authors: Ayeshmanthe Rathnayake, Siew Goh, Carmel Fenton, Ashutosh Hardikar

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Post-Operative Atrial Fibrillation (POAF) is the most frequent complication of cardiac surgery and is associated with reduced survival, increased rates of cognitive changes and cerebrovascular accident, heart failure, renal dysfunction, infection and length of stay, and hospital costs. Cardiac tamponade, although less common, carries high morbidity and mortality. Shed mediastinal blood in the pericardial space is a major source of intrapericardial oxidative stress and inflammation that triggers POAF. The utilisation of a left posterior pericardiotomy aims to shunt blood from the pericardium into the pleural space and have a role in the prevention of POAF as well as cardiac tamponade. 2118 patients had undergone isolated Coronary Artery Bypass Graft (CABG) at Royal Hobart Hospital from 2008-2021. They were divided into pericardiotomy vs control group. Patient baseline demographics, intraoperative data, and post-operative outcomes were reviewed retrospectively. Total incidence of new POAF and cardiac tamponade was 26.1% and 0.75%, respectively. Primary outcome of both the incidence of POAF(22.9% vs27.8%OR 0.77 p<0.05) and Cardiac Tamponade (0% vs 1.1% OR 0.85 p<0.05) were less in the pericardiotomy group.Increasing age, BMI, poor left ventricular function (EF <30%), and return to theatre were independent predictors of developing POAF. There were similar rates of return to theatre for bleeding however, no cases of tamponade in the pericardiotomy group. There were no complications attributable to left posterior pericardiotomy and the time added to the duration of surgery was minimal. Left posterior pericardiotomy is associated with a significant reduction in the incidence of POAFand cardiac tamponade and issafe and efficient.

Keywords: cardiac surgery, pericardiotomy, post-operative atrial fibrillation, cardiac tamponade

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