Search results for: trade finance

Authors: C. Tezara, H. Y. Lim, M. H. Yazdi, J. W. Lim, J. P. Siregar

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Natural fibre has become an element in human lives. A lot of researchers have conducted research about natural fibre reinforced polymer. Malaysian government has spent a lot of money on the research funding for researchers and academician especially research on kenaf fibre due to exclusion of tobacco from AFTA (Asean Free Trade Area) list. This work is to investigate the mechanical properties of kenaf fiber reinforced epoxy composite where short kenaf fibre was applied and the mechanical properties of 5%, 10% and 15% wt. of kenaf fibre were added into the mixture of epoxy resin. Hand lay-up process was selected in the fabrication of the specimen for testing. The tensile, flexural and impact test were conducted following ASTM D3039, ASTM D790 and ASTM D256 accordingly. From the experiment result, the effect of different fiber loading of the specimen on its mechanical properties would be analyzed and compared in the result and discussion.

Keywords: Kenaf fibre, epoxy, composite, fibre

Procedia PDF Downloads 268

Authors: Muhammad Sameer Ahmed, Piotr Remlein, Tansal Gucluoglu

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The technique called as Generalized frequency division multiplexing (GFDM) used in the free space optical channel can be a good option for implementation free space optical communication systems. This technique has several strengths e.g. good spectral efficiency, low peak-to-average power ratio (PAPR), adaptability and low co-channel interference. In this paper, the impact of weather conditions such as haze, rain and fog on GFDM over the gamma-gamma channel model is discussed. A Trade off between link distance and system performance under intense weather conditions is also analysed. The symbol error probability (SEP) of GFDM over the gamma-gamma turbulence channel is derived and verified with the computer simulations.

Keywords: free space optics, generalized frequency division multiplexing, weather conditions, gamma gamma distribution

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Authors: Fatima Faiza Ahmed, Syed Farrukh Hussain

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The last few decades have seen a large proportion of our population bending towards e-learning technologies, starting from learning tools used in primary and elementary schools to competency based e-learning systems specifically designed for applications like finance and marketing. The huge diversity in this crowd brings about a large number of challenges for the designers of these e-learning systems, one of which is the adaptability of such systems. This paper focuses on adaptability in the learning material in an e-learning course and how artificial intelligence and the semantic web can be used as an effective tool for this purpose. The study proved that the semantic web, still a hot topic in the area of computer science can prove to be a powerful tool in designing and implementing adaptable e-learning systems.

Keywords: adaptable e-learning, HTMLParser, information extraction, semantic web

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Authors: Malki Fatima Zahra Nadia, Kellal Chaimaa, Brahimi Houria

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The world has undergone a big dramatic transformations as a result of the liberalization of the economy. Which lead to intensity of competition between economic institutions under the slogan “ Survival of the fittest”.in the line with these changes, it is imperative for Organizations to adopt the philosophy of applying ICT in the era of globalization in order to survive and sustain in the local and international markets.and even the Algerian economic institutions are concerned in what witnessed by the international institutions,especially after Algeria adopted the policy of trade openness.And from this point, it was the start of the study, that aims at identifying the role of ICT in achieving competitive advantage in the economic institutions according to an analytical study of Mobilis Telecom in Algeria city, and then the analysis of the results by SPSS edition 24.To sum up, i have come to the conclusion that ICT has effectively contributed to the achievement of competitive advantage, and that the value of organizations today lies in the extent to which they use ICT’s which make it gain speed, efficiency, and the quality of its operations especially in the competitive competition.

Keywords: ICT, company, competitive advantage, competitive strategie

Procedia PDF Downloads 39

Authors: Renuka H. Deshmukh, Snehal Nifadkar, Anil P. Dongre

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The research study aims to analyze the financial performance of the companies associated with CDM projects implemented in India from 2001 to 2014 by calculating net profit with and without CDM revenue. Further the study also highlights the Year-wise and sector-wise lending to CDM projects in India as well as in the state of Maharashtra. The study further aims to examine the year-wise trend of Certified Emission Reductions (CER) issued by the CDM projects implemented in Maharashtra from 2001-2014. The study as well analyses the responses of selected corporate with respect to the challenges in implementing and obtaining finance from commercial banks.

Keywords: adaptation costs, internal rate of return, mitigation, vulnerability, CER

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Authors: Ogunrinde Roseline Bosede, Ogunrinde Rowland Rotimi

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Just as the development of ideas of early mathematics was essentially motivated by social needs, the invention of the computer was equally inspired by social needs. The early years of the twenty-first century have been remarkable in advances in mathematical and computer sciences. Mathematical and computer sciences work are fast becoming an increasingly integral and essential components of a growing catalogues of areas of interests in biology, business, military, medicine, social sciences, advanced design, advanced materials, climate, banking and finance, and many other fields of disciplines. This paper seeks to highlight the trend and impacts of the duo in the technological advancements being witnessed in our today's world.

Keywords: computer, impacts, mathematics, modern society

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Authors: Olfa Kaabia, Ilyes Abid, Khaled Guesmi

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This pioneer paper studies whether and how Bitcoin shocks are transmitted to the U.S economy. We employ a new methodology: TVP FAVAR model with stochastic volatility. We use a large dataset of 111 major U.S variables from 1959:m1 to 2016:m12. The results show that Bitcoin shocks significantly impact the U.S. economy. This significant impact is pronounced in a volatile and increasing U.S economy. The Bitcoin has a positive relationship on the U.S real activity, and a negative one on U.S prices and interest rates. Effects on the Monetary Policy exist via the inter-est rates and the Money, Credit and Finance transmission channels.

Keywords: bitcoin, US economy, FAVAR models, stochastic volatility

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Authors: Athirat Intajorn

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According to the ASEAN free trade areas (AFTA), Thailand has applied the AFTA agreement for reducing tariffs and reflecting changes in business processes. The reflection of changes in agribusiness processes, in particular, has accumulated as production costs for producers. Palm Oil industry has become an important industry to Thailand economic. Thailand currently ranks the 3rd in the world for Crude Palm Oil CPO. Therefore, the scope of this paper presents a research framework to investigate the supply chain management practices in Thailand palm oil industry. This research is limit to literature review. And the proposed framework identifies the criteria of supply chain management for Thailand palm oil industry in order for linkage among entities within logistics management involving plantation, mill, collection port, refinery and cookie from the data utilization. The Supply Chain Management Practices in Thailand Palm Oil Industry framework has a somewhat different view due to the high complexity of agribusiness logistics management.

Keywords: supply chain management, practice, palm oil industry, Thailand palm oil industry

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Authors: Hyun Ji Hyun, Hyo Sun Suh, Min Kook Kim, Yong Chan Kwon, Byung-Mu Lee

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Scope: This study is focused on the effect of myristic acid on LPS-induced inflammation in RAW 264.7 macrophage cells. Methods and results: For the experiment, RAW 264.7 mouse macrophage cell line was used. Results showed that treatment with myristic acid can attenuate LPS-induced inflammation. Moreover, myristic acid significantly suppressed expression of inflammatory mediators and down-regulating UVB-induced intracellular ROS generation. Furthermore, myristic acid reduced the expression of NF-κB by inhibiting degradation of IκB-α and ERK, JNK, and p38 pathways by inhibiting phosphorylation in RAW 264.7 macrophage cells. Conclusion: Overall, these data suggest that the myristic acid could reduce LPS-induced inflammation. Acknowledgment: This research was supported by the Ministry of Trade, Industry & Energy(MOTIE), Korea Institute for Advancement of Technology(KIAT) through the Encouragement Program for The Industries of Economic Cooperation Region

Keywords: anti-inflammation, myristic acid, ROS, ultraviolet light

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Authors: Saravanan R.

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The landscape of Kerala was paved way for the growth of maritime contacts with foreigners. Pepper was the important exported item from here because this region only having pepper production on the West Coast of India. The paper is attempting to analysis the available references of ancient port town in Kerala. It is merely preliminary investigation about Early Historic urban centres with the available literary evidences and excavations reports that would help us to understand the ancient port town in Kerala coast. There were number of ancient port towns mentioned in classical Greek and Sangam literatures. For instance, Naura, Tyndis, Nelcynda, Bacare and Muziris were the major sites of Kerala which represented only in the text but not able to locate these sites on the ground so far. There are lot of studies on site based as well as state based regarding the various aspects of ancient port towns. But, it is mainly focussed on factual narration and theoretical interpretation.

Keywords: urban centre, amphora, Muziris, port town, Sangam text and trade

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Authors: L. Aparecida Bastos, J. Leige Lopes, J. Crepaldi, R. Monteiro da Silva

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The objective of this study is to analyze the evolution of some social and economic indicators of Mercosur´s economies from 1980 to 2012, based on the statistics of the Latin American Integration Association (LAIA). The objective is to observe if after the accession of these economies to Mercosur (the first accessions occurred in 1994) these indicators showed better performance, in order to demonstrate if economic integration contributed to improved trade, macroeconomic performance, and level of social and economic development of member countries. To this end, the methodologies used will be a literature review and descriptive statistics. The theoretical framework that guides the work are the theories of Integration: Classical Liberal, Marxist and structural-proactive. The results reveal that most social and economic indicators showed better performance in those economies that joined Mercosur after 1994. This work is the result of an investigation already completed.

Keywords: economic integration, Mercosur, social indicators, economic indicators

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Authors: Deepak Jugran

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The last century has witnessed rapid scientific growth, and social policies mainly targeted to increase the “life expectancy” of the people. As a result of these developments, the aging as well as ailing population, is increasing by every day. Despite an increase in “life expectancy”, we have not recorded compression in morbidity numbers as the age of onset of the majority of health issues has not increased substantially. In recent years, the prevalence of chronic diseases along with the improved treatment has also resulted in the increase of people living with chronic diseases. The last decade has also focused on social policies to increase the life expectancy in the population; however, in recent decades, social policies and biomedical research are gradually shifting on the potential of increasing healthy life or healthspan. In this article, we review the existing framework of lifespan and healthspan and wish to ignite a discussion among social scientists and public health experts to propose a wholistic framework to balance the trade-offs on social policies for “lifespan” and “healthspan”.

Keywords: lifespan, healthspan, chronic diseases, social policies

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Authors: Jinyoung Choi, Hyun-A Kim, Sunmook Lee

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The effects of environmental stress factors such as storage conditions on the deterioration phenomenon and the characteristic of the display glass were studied. In order to investigate the effect of chemical stress on the glass during the period of storage, the respective components of commercial glass were first identified by XRF (X-ray fluorescence). The glass was exposed in the acid, alkali, neutral environment for about one month. Thin film formed on the glass surface was analyzed by XRD (X-ray diffraction) and FT-IR (Fourier transform infrared). The degree of corrosion and the rate of deterioration of each sample were confirmed by measuring the concentrations of silicon, calcium and chromium with ICP-OES (Inductively coupled plasma-optical emission spectrometry). The optical properties of the glass surface were confirmed by SEM (Scanning electron microscope) before and after the treatment. Acknowledgement—The authors gratefully acknowledge the financial support from the Ministry of Trade, Industry and Energy (Grant Number: 10076817)

Keywords: corrosion, degradation test, display glass, environmental stress factor

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Authors: Waheed Oseni

Abstract:

This article reviews emergent global trends in intellectual property protection and identifies patenting as a strategic initiative. Recent developments in software and method of doing business patenting are fast transforming the e‐business landscape. The article discusses the emergent global regulatory framework concerning intellectual property rights and the strategic value of patenting. Important features of a corporate patenting portfolio are described. Superficially, the e‐commerce landscape appears to be dominated by dotcom start-ups or the “dotcomization” of existing brick and mortar companies. But, in reality, at its very bedrock is intellectual property (IP). In this connection, the recent avalanche of patenting of software and method‐of‐doing‐business (MDB) in the USA is a very significant development with regard to rules governing IP rights and, therefore, e‐commerce. Together with the World Trade Organization’s (WTO) IP rules, there is an emerging global regulatory framework for IP rights, an understanding of which is necessary for designing effective e‐commerce strategies.

Keywords: intellectual property, patents, methods, computer software

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Authors: Tunjo Perić, Franjo Bratić

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In this paper the goal programming methodology for solving multiple objective problem of the technological variants and production plan optimization has been applied. The optimization criteria are determined and the multiple objective linear programming model for solving a problem of the technological variants and production plan optimization is formed and solved. Then the obtained results are analysed. The obtained results point out to the possibility of efficient application of the goal programming methodology in solving the problem of the technological variants and production plan optimization. The paper points out on the advantages of the application of the goal programming methodolohy compare to the Surrogat Worth Trade-off method in solving this problem.

Keywords: goal programming, multi objective programming, production plan, SWT method, technological variants

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Authors: H. M. Ross-McAlpine

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Much of what is written on diplomacy, globalization and the global economy addresses the changing nature of relationships between major powers. While the most dramatic and influential changes have resulted from these developing relationships the world is not, on deeper inspection, governed neatly by major powers. Due to advances in technology, the shifting balance of power and a changing geopolitical order, small states have the ability to exercise a greater influence than ever before. Increasingly interdependent and ever complex, our world is too delicate to be handled by a mighty few. The pressure of global change requires small states to adapt their diplomatic practices and diversify their strategic alliances and relationships. The nature and practice of diplomacy must be re-evaluated in light of the pressures resulting from globalization. This research examines: how small states can best secure their foreign policy objectives? Small state theory is used as a foundation for exploring the case study of New Zealand. The research draws on secondary sources to evaluate the existing theory in relation to modern practices of diplomacy. As New Zealand lacks the required economic and military power to play an active, influential role in international affairs what strategies are used to exert influence? Furthermore, New Zealand lies in a remote corner of the Pacific and is geographically isolated from its nearest neighbors how does this affect security and trade priorities? The findings note a significant shift since the 1970’s in New Zealand’s diplomatic relations. This shift is arguably a direct result of globalization, regionalism and a growing independence from the traditional bi-lateral relationships. The need to source predictable trade, investment and technology are an essential driving force for New Zealand’s diplomatic relations. A lack of hard power aligns New Zealand’s prosperity with a secure, rules-based international system that increases the likelihood of a stable and secure global order. New Zealand’s diplomacy and prosperity has been intrinsically reliant on its reputation. A vital component of New Zealand’s diplomacy is preserving a reputation for integrity and global responsibility. It is the use of this soft power that facilitates the influence that New Zealand enjoys on the world stage. To weave a comprehensive network of successful diplomatic relationships, New Zealand must maintain a reputation of international credibility. Globalization has substantially influenced the practice of diplomacy for New Zealand. The current world order places economic and military might in the hands of a few, subsequently requiring smaller states to use other means for securing their interests. There are clear strategies evident in New Zealand’s diplomacy practice that draw attention to how other smaller states might best secure their foreign policy objectives. While these findings are limited, as with all case study research, there is value in applying the findings to other small states struggling to secure their interests in the wake of rapid globalization.

Keywords: diplomacy, foreign policy, globalisation, small state

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Authors: Ivana Lolic, Petar Soric, Mirjana Cizmesija

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Based on Business and Consumer Survey (BCS) data, the European Commission (EC) regularly publishes the monthly Economic Sentiment Indicator (ESI) for each EU member state. ESI is conceptualized as a leading indicator, aimed ad tracking the overall economic activity. In calculating ESI, the EC employs arbitrarily chosen weights on 15 BCS response balances. This paper raises the predictive quality of ESI by applying nonlinear programming to find such weights that maximize the correlation coefficient of ESI and year-on-year GDP growth. The obtained results show that the highest weights are assigned to the response balances of industrial sector questions, followed by questions from the retail trade sector. This comes as no surprise since the existing literature shows that the industrial production is a plausible proxy for the overall Croatian economic activity and since Croatian GDP is largely influenced by the aggregate personal consumption.

Keywords: business and consumer survey, economic sentiment indicator, leading indicator, nonlinear optimization with constraints

Procedia PDF Downloads 445

Authors: Guilherme B. B. Vieira, Rafael M. da Silva, Eliana T. P. Senna, Luiz A. S. Senna, Francisco J. Kliemann Neto

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Due to the importance of ports to trade and economic development of the regions in which they are inserted, in recent decades the number of studies devoted to this subject has increased. Part of these studies consider the ports as business agglomerations and focuses on port governance. This is an important approach since the port performance is the result of activities performed by actors belonging to the port-logistics chain, which need to be properly coordinated. This coordination takes place through a port governance model. Given this context, this study aims to analyze the governance model of the port of Santos from the perspective of port customers. To do this, a closed-ended questionnaire based on a conceptual model that considers the key dimensions associated with port governance was applied to the international freight forwarders that operate in the port. The results show the applicability of the considered model and highlight improvement opportunities to be implemented at the port of Santos.

Keywords: port governance, model, Port of Santos, customers’ perception

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Authors: Wanatchapong Kongkaew

Abstract:

This paper proposes an application of probabilistic technique, namely Gaussian process regression, for estimating an optimal sequence of the single machine with total weighted tardiness (SMTWT) scheduling problem. In this work, the Gaussian process regression (GPR) model is utilized to predict an optimal sequence of the SMTWT problem, and its solution is improved by using an iterated local search based on simulated annealing scheme, called GPRISA algorithm. The results show that the proposed GPRISA method achieves a very good performance and a reasonable trade-off between solution quality and time consumption. Moreover, in the comparison of deviation from the best-known solution, the proposed mechanism noticeably outperforms the recently existing approaches.

Keywords: Gaussian process regression, iterated local search, simulated annealing, single machine total weighted tardiness

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Authors: T. Godwin

Abstract:

The design of a supply chain always entails the trade-off between responsiveness and efficiency. The launch of e-commerce has not only changed the way of shopping but also altered the supply chain design while trading off efficiency with responsiveness. A concept called ‘virtual responsiveness’ is introduced in the context of e-commerce supply chain. A simulation model is developed to compare actual responsiveness and virtual responsiveness to the customer in an e-commerce supply chain. The simulation is restricted to the movement of goods from the e-tailer to the customer. Customer demand follows a statistical distribution and is generated using inverse transformation technique. The two responsiveness schemes of the supply chain are compared in terms of the minimum number of inventory required at the e-tailer to fulfill the orders. Computational results show the savings achieved through virtual responsiveness. The insights gained from this study could be used to redesign e-commerce supply chain by incorporating virtual responsiveness. A part of the achieved cost savings could be passed back to the customer, thereby making the supply chain both effective and competitive.

Keywords: e-commerce, simulation modeling, supply chain, virtual responsiveness

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Authors: Fahad Ahmed Qureshi

Abstract:

There were abundant renowned financial markets in Pre-Islamic Arabs. Most of those were patterned and settled during pre-particularized sunshine. Those markets were classified either as vernacular markets helping the neighboring clans, or habitual markets that people sojourned to from all articulations of the Arabian Peninsula, such as Okaz near Mecca. Some of those markets had leading significance due to their geographical positions, such as Prime market of Eden, because of their entanglement in international trade i.e. with the markets of Sub-Continent, Abyssinia, Persia and China. Other markets such as Market of Yamamah annex its gist from being situated on the caravan crossroads. Islamic worldview and Islamic epistemology base of Financial Market’s realistic theory, pragmatic model and operative approach is moderately constrained in terms of its growth. The existent situation only parasol the form of accommodative-modification and splendid-methodologies, which due to depleted and decorous endeavor in explaining Islamic financial market theoretically. This is the demand of time that particular studies should be conduct to magnify the devours in developing theoretical framework for Islamic Financial Market.

Keywords: Islam, financial market, history, research, product development

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Authors: Renuka Mahadevan, Sharon Chang

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This exploratory study is based on potential cruisers’ monetary valuation of cruise attributes. Using choice experiment, monetary trade-offs between four different cruise attributes are examined with Australians as a case study. We found 50% of the sample valued variety of onboard cruise activities the least while 30% were willing to pay A$87 for cruise-organised activities per day, and the remaining 20% regarded an ocean view to be most valuable at A$125. Latent class modelling was then applied and results revealed that potential cruisers’ valuation of the attributes can be used to segment the market into adventurers, budget conscious and comfort lovers. Evidence showed that socio demographics are not as insightful as lifestyle preferences in developing cruise packages and pricing that would appeal to potential cruisers. Marketing also needs to counter the mindset of potential cruisers’ belief that cruises are often costly and that cruising can be done later in life.

Keywords: latent class modelling, choice experiment, potential cruisers, market segmentation, willingness to pay

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Authors: Prasansha Kumari

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Financial Literacy is the possession of knowledge and understanding of financial matters. Financial Literacy often entails the knowledge of properly making decisions pertaining to certain personal financial areas like real estate, insurance investing, and savings. This paper intends to identify and analyze the financial knowledge among university undergraduates by using 200 undergraduates in four faculties of University of Kelaniya, Sri Lanka. Collected data will be analyzed by descriptive research method using SPSS package. Expected outcomes are considerable percentage of undergraduates have basic knowledge on financial matters while it has a law percentage for advanced financial literacy among undergraduates. Students from faculty of Commerce and Management and Science have good understanding about financial matters than undergraduates in other two faculties

Keywords: advanced finance, undergraduates, financial literacy, savings

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Authors: S. Tartaya, R. Bagtache, A. M. Djaballah, M. Trari

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Due to the increase in the trade of colored products and their applications in various fields such as cosmetic, food, textile, pharmaceutical industries, etc. Dyes constitute a large part of the contaminants in wastewater and cause serious damage in the environment and the aquatic system. Photocatalytic systems are highly efficient processes for treating wastewater in the presence of semiconductor photocatalysts. In this field, we report our contribution by synthesizing a potassium vanadium fluorophosphate compound KVPO4F (which is abbreviated KVPOF) by a simplified hydrothermal method at 180°C for 5 days. The as synthesized product has been characterized physically and photoelectrochemically. The indirect optical transition of 1.88 eV, determined from the diffuse reflectance, was assigned to the charge transfer. Moreover, the curve (C-2–E) of the KVPOF displayed n-type character of the semiconductor. Even more, interestingly, the photocatalytic performance was evaluated through the photo-degradation of cationic dye Methyl Violet (MV). An abatement of 61% was obtained after 6 h of irradiation under visible light.

Keywords: KVPO4F, photocatalysis, semiconductor, wastewater, environment

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Authors: Andréanne Gagné, Jo Anni Joncas, Éric Tendon

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Teaching in vocational training requires an excellent mastery of the trade being taught, but also solid professional skills in pedagogy. Teachers are typically recruited on the basis of their trade expertise, and they do not necessarily have training or experience in pedagogy. In order to counter this lack, the Ministry of Education (Québec, Canada) requires them to complete a 120-credit university program to obtain their teaching certificate. They must complete this training in addition to their teaching duties. This training was rarely planned in the teacher’s life course, and each teacher approaches it differently: some are enthusiastic, but many feel reluctant discouragement and even frustration at the idea of committing to a training program lasting an average of 10 years to completion. However, Quebec is experiencing an unprecedented shortage of teachers, and the perseverance of vocational teachers in their careers requires special attention because of the conditions of their specific integration conditions. Our research examines the perceptions that vocational teachers in training have of their academic experience in pre-service teaching. It differs from previous research in that it focuses on the influence of the academic experience on the teaching employment experience. The goal is that by better understanding the university experience of teachers in vocational education, we can identify support strategies to support their school experience and their teaching. To do this, the research is based on the theoretical framework of the sociology of experience, which allows us to study the way in which these “teachers-students” give meaning to their university program in articulation with their jobs according to three logics of action. The logic of integration is based on the process of socialization, where the action is preceded by the internalization of values, norms, and cultural models associated with the training context. The logic of strategy refers to the usefulness of this experience where the individual constructs a form of rationality according to his objectives, resources, social position, and situational constraints. The logic of subjectivation refers to reflexivity activities aimed at solving problems and making choices. These logics served as a framework for the development of an online questionnaire. Three hundred respondents, newly enrolled in an undergraduate teaching program (bachelor's degree in vocational education), expressed themselves about their academic experience. This paper relates qualitative data (open-ended questions) subjected to an interpretive repertory analysis approach to descriptive data (closed-ended questions) that emerged. The results shed light on how the respondents perceive themselves as teachers and students, their perceptions of university training and the support offered, and the place that training occupies in their professional path. Indeed, their professional and academic paths are inextricably linked, and it seems essential to take them into account simultaneously to better meet their needs and foster the development of their expertise in pedagogy. The discussion focuses on the strengths and limitations of university training from the perspective of the logic of action. The results also suggest support strategies that can be implemented to better support the integration and retention of student teachers in professional education.

Keywords: teacher, vocational training, pre-service training, academic experience

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Authors: Ayşen Edirneligil, Mehmet Mucuk

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In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: external debt, economic growth, Turkish economy, time series analysis

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Authors: Temesgen Yaekob Ergano, Sure Pulla Rao

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The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively.

Keywords: financial development, economic growth, Sub-Saharan Africa, system GMM analysis, financial indicators.

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Authors: B. Siva Kumar Reddy, B. Lakshmi

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WiMAX has adopted an Adaptive Modulation and Coding (AMC) in OFDM to endure higher data rates and error free transmission. AMC schemes employ the Channel State Information (CSI) to efficiently utilize the channel and maximize the throughput and for better spectral efficiency. This CSI has given to the transmitter by the channel estimators. In this paper, LSE (Least Square Error) and MMSE (Minimum Mean square Error) estimators are suggested and BER (Bit Error Rate) performance has been analyzed. Channel equalization is also integrated with with AMC-OFDM system and presented with Constant Modulus Algorithm (CMA) and Least Mean Square (LMS) algorithms with convergence rates analysis. Simulation results proved that increment in modulation scheme size causes to improvement in throughput along with BER value. There is a trade-off among modulation size, throughput, BER value and spectral efficiency. Results also reported the requirement of channel estimation and equalization in high data rate systems.

Keywords: AMC, CSI, CMA, OFDM, OFDMA, WiMAX

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Authors: Yaara Shilo

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Early childhood education and care (ECEC)in Israel has undergone extensive reform and now requires daycare centers to meet internationally recognized professional standards. Since 1948, one of the aims of childcare facilities was to enable women’s participation in the workforce.A 1965 law grouped daycare centers for young children with facilities for the elderly and for disabled persons under the same authority. In the 1970’s, ECEC leaders sought to change childcare from proprietary to educational facilities. From 1976 deliberations in the Knesset regarding appropriate attribution of ECEC frameworks resulted in their being moved to various authorities that supported women’s employment: Ministries of Finance, Industry, and Commerce, as well as the Welfare Department. Prior to 2018, 75% of infants and toddlers in institutional care were in unlicensed and unsupervised settings. Legislative processes accompanied the conceptual change to an eventual appropriate attribution of ECEC frameworks. Position papers over the past two decades resulted in recommendations for standards conforming to OECD regulations. Simultaneous incidents of child abuse, some resulting in death, riveted public attention to the need for adequate government supervision, accelerating the legislative process. Appropriate care for very young children must center on quality interactions with caregivers, thus requiring adequate staff training. Finally, in 2018 a law was passed stipulating standards for staff training, proper facilities, child-adult ratios, and safety measures. The Ariav commission expanded training to caregivers for ages 0-3. Transfer of the ECEC to the Ministry of Education ensured establishment of basic training. Groundwork created by new legislation initiated professional development of EC educators for ages 0-3. This process should raise salaries and bolster the system’s ability to attract quality employees. In 2022 responsibility for ECEC ages 0-3 was transferred from the Ministry of Finance to the Ministry of Education, shifting emphasis from proprietary care to professional considerations focusing on wellbeing and early childhood education. The recent revolutionary changes in ECEC point to a new age in the care and education of Israel’s youngest citizens. Implementation of international standards, adequate training, and professionalization of the workforce focus on the child’s needs.

Keywords: policy, early childhood, care and education, daycare, development

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Authors: Manas Shah

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Black Scholes option pricing model is one of the most important concepts in modern world of computational finance. However, its practical use can be challenging as one of the input parameters must be estimated; implied volatility of the underlying security. The more precisely these values are estimated, the more accurate their corresponding estimates of theoretical option prices would be. Here, we present a novel model based on Cuckoo Search Optimization (CS) which finds more precise estimates of implied volatility than Particle Swarm Optimization (PSO) and Genetic Algorithm (GA).

Keywords: black scholes model, cuckoo search optimization, particle swarm optimization, genetic algorithm

Procedia PDF Downloads 436