Search results for: tobacco price policy

Authors: Herjuno Bagus Wicaksono, Emma Almira Fauni, Salma Amelia Dina

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The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient.

Keywords: efficient market hypothesis, Indonesia sharia stock index, random walk, weak form efficiency

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Authors: EMMANUEL DWAMENA SASU

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International climate policy actions require countries under Paris Agreement to design instruments, provide support (financial and technical), and strengthen institutional capacity with tendency to transcending policy formulation to implementation and sustainability. Changes associated with moisture depletion has been a growing phenomenon; especially in developing countries with projected global GDP drop from 7% to 2% between 2005 and 2050. These developments have potential to adversely affect food production in feeding the growing world population, with corresponding rise in global hunger. Incongruously, there is global absence of a harmonized policy direction; capable of providing the required indicators on climate policies for monitoring sustainability of international agricultural development projects. We conduct extensive review and synthesis on existing limitations on global climate policy governance, agricultural food security and sustainability of international agricultural development projects, and conjecture the role of non-state and sub-national climate stakeholder engagements, and monitoring and evaluation strategies for improved climate policy action for sustaining international agricultural development projects.

Keywords: climate policy, agriculture, development projects, sustainability

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Authors: Simon Tsipis

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In this study, we propose to analyze Russian foreign policy conduct by applying the theory of Political Realism and the qualitative comparative method of analysis. We find that the paradigm of Political Realism supplies us with significant insights into the sources of contemporary Russian foreign policy conduct since the power factor was and remains an integral element in Russian foreign policies, especially when we apply comparative analysis and compare it with the behavior of its Soviet predecessor. Through the lens of the Realist theory, a handful of Russian foreign policy-making becomes clearer and much more comprehensible.

Keywords: realism, Russia, cold war, Soviet Union, European security

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Authors: Chenhong Peng

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Beijing, the capital city of China, is running out of water. The water resource per capita in Beijing is only 106 cubic meter, accounts for 5% of the country’s average level and less than 2% of the world average level. The tension between water supply and demand is extremely serious. For one hand, the surface and ground water have been over-exploited during the last decades; for the other hand, water demand keep increasing as the result of population and economic growth. There is a massive gap between water supply and demand. This paper will focus on addressing the water shortage in Beijing city by increasing water use efficiency in domestic sector. First, we will emphasize on the changing structure of water supply and demand in Beijing under the economic development and restructure during the last decade. Second, by analyzing the water use efficiency in agriculture, industry and domestic sectors in Beijing, we identify that the key determinant for addressing the water crisis is to increase the water use efficiency in domestic sector. Third, this article will explore the two primary causes for the water use inefficiency in Beijing: The ineffective water pricing policy and the poor water education and communication policy. Finally, policy recommendation will offered to improve the water use efficiency in domestic sector by making and implementing an effective water pricing policy and people-engaged water education and communication policy.

Keywords: Beijing, water use efficiency, domestic sector, water pricing policy, water education policy

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Authors: Dylan Yanano Mangani, Theodore Nkadimeng Mahosi

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Soon after independence on 18th April 1980, Zimbabwe’s foreign policy was shaped by the realities on the ground, which saw the country managing a sound relationship with both the Capitalist West and the Communist Eastern blocs. The post-independence foreign policy was therefore premised on security concerns illuminated by the Cold War era. This was one the reasons President Robert Mugabe adopted a policy of reconciliation and this earned his government recognition on the international platform. However, in Southern Africa apartheid South Africa was still the vanguard of capitalism and oppression such that she posed a serious threat to the newly born Zimbabwean nation which necessitated that Zimbabwe position herself both in the region and the continent to counter potential internal stability from within. Irrespective of how the international community viewed the country’s foreign policy Zimbabwe has continued to influence regional, continental and world geo-politics, especially on behalf of the developing nations. This raises a question why as a result of its foreign policy the country is now regarded a pariah state, especially some Western countries which used to applaud its political economic policies immediately after independence. Therefore, this study argues that the political economy of Zimbabwe had a far-reaching bearing on its foreign policy. For this reason, the problem necessitates the investigation of Zimbabwe’s foreign policy perspectives in Southern Africa since the turn of the 1990s. Two main theories which are Realism, Afro-centrism inform the study as an attempt to understand Zimbabwe’s foreign policy paradigm shift and perhaps provide answers to the objectives raised. The research therefore employs a qualitative approach where the conceptual nature of the study into the foreign policy of Zimbabwe is largely desktop research. However, the nature of the study will also require that oral interviews are conducted to substantiate some of the arguments advanced.

Keywords: cold war set up, foreign policy, look east policy, pan-africanism, post 2000 period, Southern Africa, Zimbabwe

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Authors: Jamil Ahmed

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Access control models aim to decide whether a user should be denied or granted access to the user‟s requested activity. Various access control models have been established and proposed. The most prominent of these models include role-based, attribute-based, policy based access control models as well as role-centric attribute based access control model. In this paper, a novel access control model is presented called “Role centric Attribute based Policy Driven Access Control (RAPDAC) model”. RAPDAC incorporates the concept of “policy” in the “role centric attribute based access control model”. It leverages the concept of "policy‟ by precisely combining the evaluation of conditions, attributes, permissions and roles in order to allow authorization access. This approach allows capturing the "access control policy‟ of a real time application in a well defined manner. RAPDAC model allows making access decision at much finer granularity as illustrated by the case study of a real time library information system.

Keywords: authorization, access control model, role based access control, attribute based access control

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Authors: Kishor P. Kadam

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Foreign direct investment policy (FDI) is defined as an investment involving a long term relationship and reflecting a long duration interest and control of a resident entity in the home country (foreign direct investor or parent firm) in the host country. India has been one of the most translucent and open-minded FDI regimes among the emerging and developing economies. There is clear cut mentioned about the sectoral caps for foreign investment. The policy problems that have been identified by time to time surveys as acting as additional hurdles for FDI are laws, regulatory systems and government monopolies that do not have contemporary relevance. Foreign investment policies in the post-reforms period have emphasized greater encouragement and mobilization of non-debt creating private inflows for plunging reliance on debt flows. This paper will focus on how foreign direct investment policy changed from 1990-91 up to now. A time series data of 25 years is used for analysing the policy changes. It is observed that India has more liberal policy. The growth in number of Greenfield investments in India has been more impressive than the number of M&A deals whereas equity capital for incorporated bodies FDI inflows has been increased continuously 2014-15. India has made major changes in FDI Policy, and it has positive impact on economic development.

Keywords: FDI, India, economic development, government

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Authors: Anil Giri, Kyle Lovercamp, Sankalp Sharma

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Farm level incomes fluctuate significantly due to extreme weather events such as drought. In the light of recent extreme weather events it is important to understand the implications of extreme weather events, flood and drought, on farm level incomes. This study examines the variation in farm level incomes for the United States in drought and no- drought years. Factoring heterogeneity in different enterprises (crop, livestock) and geography this paper analyzes the impact of drought in farm level incomes at state and national level. Livestock industry seems to be affected more by the lag in production of input feed for production, crops, as preliminary results show. Furthermore, preliminary results also show that while crop producers are not affected much due to drought, as price and quantity effect worked on opposite direction with same magnitude, that was not the case for livestock and horticulture enterprises. Results also showed that even when price effect was not as high the crop insurance component helped absorb much of shock for crop producers. Finally, the effect was heterogeneous for different states more on the coastal states compared Midwest region. This study should generate a lot of interest from policy makers across the world as some countries are actively seeking to increase subsidies in their agriculture sector. This study shows how subsidies absorb the shocks for one enterprise more than others. Finally, this paper should also be able to give an insight to economists to design/recommend policies such that it is optimal given the production level of different enterprises in different countries.

Keywords: farm level income, United States, crop, livestock

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Authors: Bahram Fathi, Karim Alizadeh, Azam Mohammadbagheri

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The aim of this paper is to investigate the role of oil price shocks in explaining business cycles in Iran using a dynamic stochastic general equilibrium approach. This model incorporates both productivity and oil revenue shocks. The results indicate that productivity shocks are relatively more important to business cycles than oil shocks. The model with two shocks produces different values for volatility, but these values have the same ranking as that of the actual data for most variables. In addition, the actual data are close to the ratio of standard deviations to the output obtained from the model with two shocks. The results indicate that productivity shocks are relatively more important to business cycles than the oil shocks. The model with only a productivity shock produces the most similar figures in term of volatility magnitude to that of the actual data. Next, we use the Impulse Response Functions (IRF) to evaluate the capability of the model. The IRF shows no effect of an oil shock on the capital stocks and on labor hours, which is a feature of the model. When the log-linearized system of equations is solved numerically, investment and labor hours were not found to be functions of the oil shock. This research recommends using different techniques to compare the model’s robustness. One method by which to do this is to have all decision variables as a function of the oil shock by inducing the stationary to the model differently. Another method is to impose a bond adjustment cost. This study intends to fill that gap. To achieve this objective, we derive a DSGE model that allows for the world oil price and productivity shocks. Second, we calibrate the model to the Iran economy. Next, we compare the moments from the theoretical model with both single and multiple shocks with that obtained from the actual data to see the extent to which business cycles in Iran can be explained by total oil revenue shock. Then, we use an impulse response function to evaluate the role of world oil price shocks. Finally, I present implications of the findings and interpretations in accordance with economic theory.

Keywords: oil price, shocks, dynamic stochastic general equilibrium, Iran

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Authors: O. E. Akinyemi, P. O. Alege, O. O. Ajayi, L. A. Amaghionyediwe, A. A. Ogundipe

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Nigeria as an oil-producing developing country in Africa is one of the many countries that had been subsidizing consumption of fossil fuel. Despite the numerous advantage of this policy ranging from increased energy access, fostering economic and industrial development, protecting the poor households from oil price shocks, political considerations, among others; they have been found to impose economic cost, wasteful, inefficient, create price distortions discourage investment in the energy sector and contribute to environmental pollution. These negative consequences coupled with the fact that the policy had not been very successful at achieving some of its stated objectives, led to a number of organisations and countries such as the Group of 7 (G7), World Bank, International Monetary Fund (IMF), International Energy Agency (IEA), Organisation for Economic Co-operation and Development (OECD), among others call for global effort towards reforming fossil fuel subsidies. This call became necessary in view of seeking ways to harmonise certain existing policies which may by design hamper current effort at tackling environmental concerns such as climate change. This is in addition to driving a green growth strategy and low carbon development in achieving sustainable development. The energy sector is identified to play a vital role. This study thus investigates the prospects of using fuel subsidy reform as a viable tool in driving an economy that de-emphasizes carbon growth in Nigeria. The method used is the Johansen and Engle-Granger two-step Co-integration procedure in order to investigate the existence or otherwise of a long-run equilibrium relationship for the period 1971 to 2011. Its theoretical framework is rooted in the Environmental Kuznet Curve (EKC) hypothesis. In developing three case scenarios (case of subsidy payment, no subsidy payment and effective subsidy), findings from the study supported evidence of a long run sustainable equilibrium model. Also, estimation results reflected that the first and the second scenario do not significantly influence the indicator of environmental quality. The implication of this is that in reforming fuel subsidy to drive environmental quality for an economy like Nigeria, strong and effective regulatory framework (measure that was interacted with fuel subsidy to yield effective subsidy) is essential.

Keywords: environmental quality, fuel subsidy, green growth, low carbon growth strategy

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Authors: Aleksandra Nocoń (Szunke)

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The study is a review of the literature concerning the consequences of non-standard monetary policy, which are used by central banks during unconventional periods, threatening instability of the banking sector. In particular, the attention was paid to the effects of non-standard monetary policy tools for financial markets. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. The main aim of the study is to survey the consequences of standard and non-standard monetary policy instruments, implemented during the global financial crisis in the United States, United Kingdom and Euroland, with particular attention to the results for the stabilization of global financial markets. The study analyses the consequences for short and long-term market interest rates, interbank interest rates and LIBOR-OIS spread. The study consists mainly of the empirical review, indicating the impact of the implementation of these tools for the financial markets. The following research methods were used in the study: literature studies, including domestic and foreign literature, cause and effect analysis and statistical analysis.

Keywords: asset purchase facility, consequences of monetary policy instruments, non-standard monetary policy, quantitative easing

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Authors: Hiroaki Sumi, Kiichiro Hayashi

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Now, the use of renewable energy power generation has been advanced. In this paper, we compared the expansion support policy of photovoltaic power generation which was researched using The internet and the amount of resource for photovoltaic power generation which was estimated using the NEDO formula in the municipality level in Hokkaido and Aichi Prefecture, Japan. This paper will contribute to grasp the current situation especially about the policy. As a result, there were municipalities which seemed to be no consideration of the amount of resources. We think it would need to consider the suitability between the policies and resources.

Keywords: photovoltaic power generation, dissemination and support policy, amount of resources, Japan

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Authors: Sun-Young Jang, Sung-Ah Kim, Dongyoun Shin

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Current real-estate value estimation, difficult for laymen, usually is performed by specialists. This paper presents an automated estimation process based on big data and machine-learning technology that calculates influences of building conditions on real-estate price measurement. The present study analyzed actual building sales sample data for Nonhyeon-dong, Gangnam-gu, Seoul, Korea, measuring the major influencing factors among the various building conditions. Further to that analysis, a prediction model was established and applied using RapidMiner Studio, a graphical user interface (GUI)-based tool for derivation of machine-learning prototypes. The prediction model is formulated by reference to previous examples. When new examples are applied, it analyses and predicts accordingly. The analysis process discerns the crucial factors effecting price increases by calculation of weighted values. The model was verified, and its accuracy determined, by comparing its predicted values with actual price increases.

Keywords: apartment complex, big data, life-cycle building value analysis, machine learning

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Authors: Nawaf Alyaseen

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This paper provides a comparative analysis of the Islamic and Western public policy and morality principles governing trademarks. The aim of this paper is to explore public policy and morality principles that affect trademark registration and protection under Shari'a by using Kuwaiti law as a case study. The findings provide a better understanding of trademark recognition from the perspective of Shari'a and the requirements demanded by Islamic Shari'a, especially of those who deal with strict Shari'a jurisdiction countries. In addition, this understanding is required for corporations or legislators that wish to take into consideration Muslim consumers. The conclusion suggests that trademarks in Western and Islamic systems are controlled by a number of public policy and morality rules that have a direct effect on the registration and protection of trademarks. Regardless of the fact that there are many commonalities between the two systems, there are still fundamental differences.

Keywords: trademark, public policy and morality, Islamic sharia, western legal systems

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Authors: Danuvasin Charoen

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This study investigates the development of the digital economy policy in Thailand. The researcher describes the importance of digital technologies for competitiveness development of the country. In addition, the researcher analyzes the components and roadmap of the digital economy policy in Thailand. Main problems and challenges of the policy were identified. The data were gathered and analyzed from secondary sources. The finding can be used to guide the implementation of the digital economy in Thailand and other developing economies.

Keywords: digital economy, ICT in developing countries, Thailand, ICT development

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Authors: Zohreh Bang Tavakoli, Shuktika Chatterjee

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This study investigates the fiscal policy impact on countries’ economic growth in developing countries with a different external debt level. The fiscal policy effectiveness has been re-emphasized in the global financial crisis of 2008 with the external debt as its new contemporary driver (Ruščáková and Semančíková, 2016). According to Bouakez, (2014 ) different theories have proposed the economic consequence of fiscal policy, specifically for developing countries. However, fiscal policy literature is lacking research regarding the fiscal policy’s effectiveness with the external debt’s contributions through comprehensive study (Canh, 2018). Also, according to scholars, high levels of external debt will influence economic growth. First, through foreign resources and channel of investment in which high level of debt decreases the amount of foreign investment in the developing countries. Second, through the deterioration of foreign investors and fiscal policies related to a high level of debt (Cordella, et.al., 2010). Therefore, this study proposed that only countries with a low external debt level and appropriate fiscal policies and good quality institutions can gain the proper quantity and quality of foreign investors, which will help the economic growth. For this, this research is examining the impact of fiscal policy on developing countries' economic growth in the situation of different external debt levels.

Keywords: fiscal policy, external debt, gross domestic product, developing countries

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Authors: Shangjun Zou, Zhiyuan Wang, Songhui You

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Introduction In recent years, the Chinese government has issued several policies to promote the institutional reform and innovation of the development of campus football, but many problems have been exposed in the process of policy implementation. Therefore, this paper attempts to conduct an empirical analysis of the campus football policy texts to reveal the dynamic development of the microsystem in the process of policy evolution. Methods The selected policy contents are coded by constructing a two-dimensional analysis framework of campus football policy tool-policy objective. Specifically, the X dimension consists of three oriented policy tools: environment, supply and demand, while the Y dimension is divided into six aspects of policy objectives, including institution, competition, player teaching, coach training, resource guarantee and popularization. And the distribution differences of textual analysis units on X and Y dimensions are tested by using SPSS22.0 so as to evaluate the characteristics and development trend of campus football policy on respective subjects. Results 1) In the policy evolution process of campus football stepping into the 2.0 Era, there were no significant differences in the frequency distribution of policy tools(p=0.582) and policy objectives(p=0.603). The collaborative governance of multiple participants has become the primary trend, and the guiding role of Chinese Football Association has gradually become prominent. 2) There were significant differences in the distribution of policy tools before the evolution at a 95% confidence level(p=0.041). With environmental tools always maintaining the dominant position, the overall synergy of policy tools increased slightly. 3) There were significant differences in the distribution of policy objectives after the evolution at a 90% confidence level(p=0.069). The competition system of policy objective has not received enough attention while the construction of institution and resource guarantee system has been strengthened. Conclusion The upgraded version of campus football should adhere to the education concept of health first, promote the coordinated development of youth cultural learning and football skills, and strive to achieve more solid popularization, more scientific institution, more comprehensive resource guarantee and adequate integration. At the same time, it is necessary to strengthen the collaborative allocation of policy tools and reasonable planning of policy objectives so as to promote the high quality and sustainable development of campus football in the New Era. Endnote The policy texts selected in this paper are “Implementation Opinions on Accelerating the Development of Youth Campus Football” and “Action Plans for the Construction of Eight Systems of National Youth Campus Football”, which were promulgated on August 13, 2015 and September 25, 2020 respectively.

Keywords: campus football, content analysis, evolution characteristics, policy objective, policy tool

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Authors: Yibo Shao, Jiajie Liu

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This article uncovers the practice of pragmatism of Singaporean foreign policy by analyzing its foreign diplomatic behavior. It also points out the Singapore’s hedging strategy on the relations between China and American and how to balance these two greater powers in Southeast Asian. This paper used qualitative approach by reviewing literature and policy documents intensively to find out the responses to our research questions.

Keywords: hedging, pragmatism, Sino-Singapore relations, South China Sea

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Authors: Maria Kralova, Michal Palecek

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We have detected factors leading to recidivism (the Czech Republic data). The employment during imprisonment turned out to be the most significant predictor with a positive effect on reduction of a rate of recidivism. Accordingly, we mainly focus on this predictor and its economic consequences. Smart public policy can cut government costs dramatically as more than a half of prisoners in the Czech Republic are recidivists. The operating cost cut of the Czech prison service could be CZK 127,680,000 (USD 5,889,623) in 2013 if a public policy had been set smarter.

Keywords: cost-cut, effective, optimal, public policy, reducing recidivism

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Authors: Peter Ferguson

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In 2018, Japan’s Ministry of Education revised the public elementary school curriculum. As part of widespread reforms, the recent Course of Study established English as an academic subject in Grades 5 and 6 plus lowered the starting age of 'foreign language activities' to Grade 3. These changes were implemented in April 2020. This presentation will examine the process and effects that policy implementation had on schools and teachers. A critical analysis of the 2018 Course of Study policy documents revealed several discourses were expressed concerning not only English education and foreign language acquisition, but that larger political and socioeconomic ideological beliefs on globalization, language, nation, culture, and identity were also articulated. Using excerpts from document analysis, the presenter will demonstrate how competing discourses were expressed in policy texts. Data from interviews with national policymakers also exposed several challenges policymakers faced as they tried to balance competing discourses and articulate important pedagogical concepts while having their voices heard. Findings show that some stakeholders were marginalized during the processes of policy creation, transmission, and implementation. This presentation is part of a larger multiple case study that utilized ethnography of language policy and critical analysis of discourse to examine how English education language policy was implemented into the national elementary school curriculum in Japan, and how stakeholders at the various educational levels contended with the creation, interpretation, and appropriation of the language policy.

Keywords: ethnography of language policy, elementary school EFL, language ideologies, discourse analysis

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Authors: Mehtab Alam

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Sustainable tourism practices require to improve the decreased performance levels in phases of change management for image branding. This paper addresses the innovative approach of using sustainable tourism for image branding as a contemporary tool of foreign policy. The sustainable tourism-based foreign policy promotes cultural values, green tourism, economy, and image management for the avoidance of rising global conflict. The mixed-method approach (quantitative 382 surveys, qualitative 11 interviews at saturation point) implied for the data analysis. The research finding provides the potential of using sustainable tourism by implying skills and knowledge, capacity, and personal factors of change management in improving tourism-based performance levels. It includes the valuable tourism performance role for the success of a foreign policy through sustainable tourism. Change management in tourism-based foreign policy provides the destination readiness for international engagement and curbing of climate issues through green tourism. The research recommends the impact of change management in improving the tourism-based performance levels of image branding for a coercive foreign policy. The paper’s future direction for the immediate implementation of tourism-based foreign policy is to overcome the contemporary issues of travel marketing management, green infrastructure, and cross-border regulation.

Keywords: decrease performance levels, change management, sustainable tourism, image branding, foreign policy

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Authors: Samir K. Safi

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The purpose of this study was to compare the performance of two types of models, namely MIDAS and MIDAS-GARCH, in predicting the volatility of crude oil returns based on gold price returns and the COVID-19 pandemic. The study aimed to identify which model would provide more accurate short-term and long-term predictions and which model would perform better in handling the increased volatility caused by the pandemic. The findings of the study revealed that the MIDAS model performed better in predicting short-term and long-term volatility before the pandemic, while the MIDAS-GARCH model performed significantly better in handling the increased volatility caused by the pandemic. The study highlights the importance of selecting appropriate models to handle the complexities of real-world data and shows that the choice of model can significantly impact the accuracy of predictions. The practical implications of model selection and exploring potential methodological adjustments for future research will be highlighted and discussed.

Keywords: GARCH-MIDAS, MIDAS, crude oil, gold, COVID-19, volatility

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Authors: Mohammed Kamal Alhassan

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The closeness of Turkey to Greece has often been a cause of many disagreements between the people of the two countries. This is against the backdrop of the fact that they have many things in common. In the past, the two countries have had unhealthy relations, which threatened to cut diplomatic ties between them. The 1996 Imia/ Kardak incident and the Öcalan crisis, for instance, nearly resulted in war between them. There were events that also brought the two countries together, for instance, the 1999 earthquake. This was because many lives were lost during the disaster. It is important to note that these events were duly covered by the media in the two countries. First of all, the study intends to look at the role of the media in the formulation of foreign policy in Turkey-Greece relations. It examines the role of the media in the formulation of foreign policy with particular emphasis on agenda-setting and positioning theories of the media as the theoretical framework. Also, the study will discuss the media landscapes in Turkey and Greece, the ownership pattern of the media sector and the relationship between media organizations and the government in the two countries. Moreover, the core foreign policy objectives of the countries will be delved into. Finally, the study employs a qualitative method to critically analyze the role of the media in the formulation of foreign policy in Turkey-Greece relations. It uses the invitation of the Former Prime Minister of Greece, George Andreas Papandreou, to the Ambassadors Conference in Turkey as a case study. In the end, the analysis will prove that, indeed, the media in Greece was effective in the formulation of foreign policy in its relations with Turkey.

Keywords: media organizations, foreign policy, government, diplomacy

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Authors: Chaoren Lu

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Public policy is playing as one driving force that influencing service innovation implementation in public sector. However, public policy implications cannot be automatically derived from the analyses of innovation issues, and there lacks of researches about the influences of public policy onto innovation. Moreover, innovation in service system is hard to predictable and whether policy encourages or hidden innovation is still lack of study. Especially, by given the context that multiple actors are active involving within the service delivery process in public transport sector, the complex driving forces and challenges are emerged towards the service operation. This study is aim to analysis the service innovation practices within service operating organizations to understand the drivers and challenges of service operation based on policy requirements, and where the innovation idea generating from. The case studies of Changzhou Transit Group and Nanjing Jiangnan Public Transit Group will be launched. This paper reveals the ambidexterity between top-down and bottom-up demands within the public transport service operating organizations contribute to the innovation ideas. Meanwhile, it contributes to the understanding of fundamental elements of service innovation is the new relationship creation and new way of sharing knowledge. The policy contributes to the trigger of creation of such relationship. The research question is: what are the sources of service innovation practices in local public transport system in China in in facing the policy implementation?

Keywords: public value, service innovation, public transport service, China

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Authors: Md. Shafiullah, Ali T. Al-Awami

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This project proposes optimal scheduling of imported power of a load aggregator with the utilization of EVs to maximize its profit. As with the increase of renewable energy resources, electricity price in competitive market becomes more uncertain and, on the other hand, with the penetration of renewable distributed generators in the distribution network the predicted load of a load aggregator also becomes uncertain in real time. Though there is uncertainties in both load and price, the use of EVs storage capacity can make the operation of load aggregator flexible. LA submits its offer to day-ahead market based on predicted loads and optimized use of its EVs to maximize its profit, as well as in real time operation it uses its energy storage capacity in such a way that it can maximize its profit. In this project, load aggregators profit maximization algorithm is formulated and the optimization problem is solved with the help of CVX. As in real time operation the forecasted loads differ from actual load, the mismatches are settled in real time balancing market. Simulation results compare the profit of a load aggregator with a hypothetical group of 1000 EVs and without EVs.

Keywords: CVX, electricity market, load aggregator, load and price uncertainties, profit maximization, real time balancing operation

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Authors: Cecilia Velasco, Q.

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This study was undertaken to find out the perceived efficiency, appropriateness effectiveness, acceptability and relevance, if at all such exist, of the Mother Tongue Based Multilingual Education Policy under the K-12 Curriculum, as seen by the stakeholders who are directly affected by this policy. The researcher believed that it is right and fitting to get the views and opinions of the people directly involved and/or concerned about this education policy. The results of the study will hopefully guide lawmakers and/or policymakers to fine-tune educational policy or policies. The locale of the study was the DepEd schools in Laguna, (San Pablo City and other nearby cities). The subjects of the study were the teachers (first phase) from the public schools of Department of Education (San Pablo City), in particular and parents (second phase) from nearby cities who are the direct stakeholders of this Policy. To determine the perception of the teachers toward Mother Tongue Based Multilingual Education Policy; its acceptability, efficiency, appropriateness, effectiveness and relevance, factor analysis was used to refine the instrument (questionnaire). To find out the significant difference between the perceptions of the primary and intermediate group of teachers, including those who teach mother tongue and non-mother tongue subjects, t-test of difference between means was employed.

Keywords: DepEd, K12 curriculum, MTBMLE, stakeholders

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Authors: Wang Qian, Bian Cheng Xiang

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In recent years, with the improvement of China's urbanization level, the number of urban motor vehicles has grown rapidly. As residents' daily commuting necessities, cars cause a lot of exhaust emissions and urban traffic congestion. In the "Fourteenth Five Year Plan" of China, it is proposed to strive to reach the peak of carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. Urban transport accounts for a high proportion of carbon emission sources. It is an important driving force for the realization of China's carbon peak strategy. Some cities have introduced and implemented the policy of "car restriction" to solve related urban problems by reducing the use of cars. This paper analyzes the implementation of the "automobile restriction" policy, evaluates the relevant effects of the automobile restriction policy, and discusses how to better optimize the "automobile restriction" policy in the process of urban governance.

Keywords: carbon emission, traffic jams, vehicle restrictions, evaluate

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Authors: Sylvia Graczka

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Waste related environmental problems are not only exploding but are also spotlighted for capacity shortages in recycling, as China announced its ban on waste imports. According to the waste hierarchy, prevention is the primary solution for waste, and also the cheapest. Waste related environmental pollution as externality puts an ever-growing burden on communities bearing the social costs. Economic policies often claim to be pro-environment, this often appears only theoretically, or at the level of principles. There are few concrete occurrences of tools in economic policies, such as green taxes, that are truly effective in stimulating the shift towards waste reduction. The paper presents theoretical economic policy tools based on literature review, and case studies on applied economic policy tools by analyzing policy papers, strategies in force, in line with ‘polluter pays’ and ‘extended producer responsibility’ principles. The study also emphasizes the differences between the broader notion of waste reduction and that of waste minimization, parallel to the difference between resource efficiency and resource savings. It also puts the issue in the context of neoclassical environmental economics and ecological economics, to present alternatives in approach. The research concludes in identifying effective economic policy tools that support the reduction of material use, and the prevention of waste. Consumer and producer awareness of waste problems and consciousness related to their choices are inevitable to make economic policy tools work effectively.

Keywords: economic policy, producer responsibility, resource efficiency, waste prevention

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Authors: Kanhaiya Singh

Abstract:

Indian corporate sector has been raising resources through various international financial instruments important among them are Global depository receipts (GDRs) and American Depository Receipts (ADRs). The purpose of raising resources through such instruments is multifold such as lower cost of capital, increased visibility of the company, liberal tax environment, increased trading liquidity etc. One of the significant reason is also the value addition of the company in terms of market capitalization. Obviously, the stocks of such companies are cross listed, one in India and other at the International stock exchange. The sensitivity and movements of stock prices on one stock exchange as compared to other may have an impact on the price movement of the particular scrip. If there is any relationship exists is an issue of study. Having this in view this study is an attempt to identify the extent of impact of price movement of the scrip on one stock exchange on account of change in the prices on the counter stock exchange. Also there is an attempt to find out the difference between pre and post cross listed domestic firm. The study also analyses the impact of exchange rate movements on stock prices.

Keywords: ADR, GDR, cross listing, liquidity, exchange rate

Procedia PDF Downloads 362

Authors: Piyanee Khumpao

Abstract:

Under the Thai Penal Code and Customs Act, sex toys are criminalized and completely prohibited through the legal interpretation as obscene objects by law enforcement, despite there is no explicit legal sanction against them. The purpose of preventing people from accessing sex toys is to preserve public morals. However, sex toys are still available, exposed, and sold publicly in main cities throughout Thailand. They are easily observed by people of any age. This paper argues that sexuality is human nature and human right. Human deserves sexual pleasure as long as getting sexual pleasure does not inflict any harm on others. Using sex toys in private (individually and/or as a couple with mutual consent) does not constitute any harm nor degrade public moral. Therefore, the complete ban of sex toys shall be lifted and decriminalized. Nevertheless, the economic analysis illustrates that criminalization and prohibition of sex toys would lead to its black market – higher price and lower quantity. Although it is socially desirable to have fewer sex toys in the market, there will usually be high demand for them because sexual pleasure is natural and, hence, people have a lower price elasticity of demand for such things, including pornography. Thus, its deterrent effect is not very effective. Moreover, sex toys vendors still always exist because higher price incentivizes them to act illegally and may gain benefits from selling low-quality sex toys. Consequently, consumers do not have a choice to select high-quality sex toys at a reasonable price. Then, they are forced to purchase low quality sex toys at a higher price. They also may suffer from health issues as well as other harms from its dangerous/toxic substances since lower quality products are manufactured poorly to save costs. A law and economics approach supports the decriminalization of sex toys in Thailand. Other measures to control its availability shall be adopted to protect the vulnerable, such as children. Options are i) zoning or regulation on-premises selling sex toys as in Singapore, Japan, and China, ii) regulations of sex toys as medical apparatus like in the state of Alabama, and iii) the prevention of sex toys exposure in the real (physical) appearance (i.e., allowing virtual exposure of sex toys) like in India.

Keywords: human nature, law and economics approach, sex toys, sexual pleasure

Procedia PDF Downloads 105