Search results for: European central bank

Authors: M. F. Amado, A. Amado, F. Poggi, J. Correia de Freitas

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Today it is widely understood that global energy consumption patterns are directly related to the ongoing urban expansion and development process. This expansion is based on the natural growth of human activities and has left most urban areas totally dependent on fossil fuel derived external energy inputs. This status-quo of production, transportation, storage and consumption of energy has become inefficient and is set to become even more so when the continuous increases in energy demand are factored in. The territorial management of land use and related activities is a central component in the search for more efficient models of energy use, models that can meet current and future regional, national and European goals. In this paper, a methodology is developed and discussed with the aim of improving energy efficiency at the municipal level. The development of this methodology is based on the monitoring of energy consumption and its use patterns resulting from the natural dynamism of human activities in the territory and can be utilized to assess sustainability at the local scale. A set of parameters and indicators are defined with the objective of constructing a systemic model based on the optimization, adaptation and innovation of the current energy framework and the associated energy consumption patterns. The use of the model will enable local governments to strike the necessary balance between human activities, economic development, and the local and global environment while safeguarding fairness in the energy sector.

Keywords: solar urban planning, solar smart city, urban development, energy efficiency

Procedia PDF Downloads 306

Authors: Roya Pournaghi

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Measuring the extent of daily use of the libraries study space is of utmost significance in order to develop, re-organize and maintain the efficiency of the study space. The current study aimed to employ GIS in analyzing the study halls space of the document center and central library of Tehran University and determine the extent of use of the study chairs and desks by the students-intended users. This combination of survey methods - descriptive design system. In order to collect the required data and a description of the method, To implement and entering data into ArcGIS software. It also analyzes the data and displays the results on the library floor map design method were used. And spatial database design and plan has been done at the Central Library of Tehran University through the amount of space used by members of the Library and Information halls plans. Results showed that Biruni's hall is allocated the highest occupancy rate to tables and chairs compared to other halls. In the Hall of Science and Technology, with an average occupancy rate of 0.39 in the tables represents the lowest users and Rashid al-Dins hall, and Science and Technology’s hall with an average occupancy rate (0.40) represents the lowest users of seats. In this study, the comparison of the space is occupied at different period as a study’s hall in the morning, evenings, afternoons, and several months was performed through GIS. This system analyzed the space relationship effectively and efficiently. The output of this study can be used by administrators and librarians to determine the exact amount of using the Equipment of study halls and librarians can use the output map to design more efficient space at the library.

Keywords: geospatial information system, spatial analysis, reading room, academic libraries, library’s user, central library of Tehran university

Procedia PDF Downloads 213

Authors: Yogesh Karunakar, Praveen Kandaswamy

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Mother’s milk provides the most superior source of nutrition to a child. There is no other substitute to the mother’s milk. Postpartum secretions like breast milk can be analyzed on the go for testing the presence of any harmful pathogen before a mother can feed the child or donate the milk for the milk bank. Since breast feeding is one of the main causes for transmission of diseases to the newborn, it is mandatory to test the secretions. In this paper, we describe the detection of pathogens like E-coli, Human Immunodeficiency Virus (HIV), Hepatitis B (HBV), Hepatitis C (HCV), Cytomegalovirus (CMV), Zika and Ebola virus through an innovative method, in which we are developing a unique chip for testing the mother’s milk sample. The chip will contain an antibody specific to the target pathogen that will show a color change if there are enough pathogens present in the fluid that will be considered dangerous. A smart-phone camera will then be acquiring the image of the strip and using various image processing techniques we will detect the color development due to antigen antibody interaction within 5 minutes, thereby not adding to any delay, before the newborn is fed or prior to the collection of the milk for the milk bank. If the target pathogen comes positive through this method, then the health care provider can provide adequate treatment to bring down the number of pathogens. This will reduce the postpartum related mortality and morbidity which arises due to feeding infectious breast milk to own child.

Keywords: postpartum, fluids, camera, HIV, HCV, CMV, Zika, Ebola, smart-phones, breast milk, pathogens, image processing techniques

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Authors: Marjone Van Der Bank, C. M. Van Der Bank

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This paper presents an overview of the foundation and evolution of environmental related problems in local governments with specific reference on air pollution in South Africa. Local government has a direct mandate in terms of the Constitution of the Republic of South Africa, 1996 (hereafter, the Constitution). This mandate to protect, fulfil, respect and promote the Bill of Rights by local governments in respect of the powers and functions creates confusion around the role of where a local government fits in, in addressing the problem of climate change in South Africa. A reflection of the evolving legislations, developments, and processes regarding climate change that shaped local government dispensation in South Africa is addressed by the notion of developmental local governments. This paper seeks to examine the advances for mitigation and adaptation regulation of air pollution and application in South Africa. This study involves a qualitative approach that will involve South African national legislation as well as an interpretation of international strategies. A literature review study was conducted to undertake the various aspects of law in order to support the argument undertaken of mitigation and adaptation strategies. The paper presents a detailed discussion of the current legislation and the position as it currently stands, as well as the relevant protections as outlined in the National Environmental Management Act and the National Environmental Management: Air Quality Act. It then proceeds to outline the responsibilities of local governments in South Africa to mitigate and adapt to air pollution strategies.

Keywords: adaptation, climate change, disaster, local governments and mitigation

Procedia PDF Downloads 121

Authors: B. Gechbaia, K. Goletiani, G. Gabedava, N. Mikeltadze

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At this stage, Georgia is a country which is actively involved in the European integration process, for which the primary priority is effective integration in the European education system. The modern Georgian higher education system is the process of establishing a new sociocultural reality, whose main priorities are determined by the Quality System as a continuous cycle of planning, implementation, checking and acting. Obviously, in this situation, the issue of management of education institutions comes out in the foreground, since the proper planning and implementation of personnel management processes is one of the main determinants of the company's performance. At the same time, one of the most important factors is the psychological comfort of the personnel, ensuring their protection and efficiency of stress management policy. The purpose of this research is to determine how intensely the relationship is between the psychological comfort of the personnel and the efficiency of the quality system in the institution as the quality assurance mechanisms of educational institutions affect the stability of personnel, prevention and management of the stressful situation. The research was carried out within the framework of the Internal Grant Project «The Role of Organizational Culture in the Process of Settlement of Management of Stress and Conflict, Georgian Reality and European Experience » of the Batumi Navigation Teaching University, based on the analysis of the survey results of target groups. The small-scale research conducted by us has revealed that the introduction of quality assurance system and its active implementation increased the quality of management of Georgian educational institutions, increased the level of universal engagement in internal and external processes and as a result, it has improved the quality of education as well as social and psychological comfort indicators of the society.

Keywords: quality assurance, effective management, stability of personnel, psychological comfort, stress management

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Authors: Maria Jędrzejczak, Patryk Pieniążek

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The European legal reality is on the eve of significant change. In European Union law, there is talk of a “fourth industrial revolution”, which is driven by massive data resources linked to powerful algorithms and powerful computing capacity. The above is closely linked to technological developments in the area of artificial intelligence, which has prompted an analysis covering both the legal environment as well as the economic and social impact, also from an ethical perspective. The discussion on the regulation of artificial intelligence is one of the most serious yet widely held at both European Union and Member State level. The literature expects legal solutions to guarantee security for fundamental rights, including privacy, in artificial intelligence systems. There is no doubt that personal data have been increasingly processed in recent years. It would be impossible for artificial intelligence to function without processing large amounts of data (both personal and non-personal). The main driving force behind the current development of artificial intelligence is advances in computing, but also the increasing availability of data. High-quality data are crucial to the effectiveness of many artificial intelligence systems, particularly when using techniques involving model training. The use of computers and artificial intelligence technology allows for an increase in the speed and efficiency of the actions taken, but also creates security risks for the data processed of an unprecedented magnitude. The proposed regulation in the field of artificial intelligence requires analysis in terms of its impact on the regulation on personal data protection. It is necessary to determine what the mutual relationship between these regulations is and what areas are particularly important in the personal data protection regulation for processing personal data in artificial intelligence systems. The adopted axis of considerations is a preliminary assessment of two issues: 1) what principles of data protection should be applied in particular during processing personal data in artificial intelligence systems, 2) what regulation on liability for personal data breaches is in such systems. The need to change the regulations regarding the rights and obligations of data subjects and entities processing personal data cannot be excluded. It is possible that changes will be required in the provisions regarding the assignment of liability for a breach of personal data protection processed in artificial intelligence systems. The research process in this case concerns the identification of areas in the field of personal data protection that are particularly important (and may require re-regulation) due to the introduction of the proposed legal regulation regarding artificial intelligence. The main question that the authors want to answer is how the European Union regulation against data protection breaches in artificial intelligence systems is shaping up. The answer to this question will include examples to illustrate the practical implications of these legal regulations.

Keywords: data protection law, personal data, AI law, personal data breach

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Authors: Zheng Sun, Weiwei Cui, Xiaodong Ma, Hongxin Jin, Dongpao Hong, Jinsong Yang, Jingyi Sun

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With the improvement of the performance and complexity of modern equipment, automatic test system (ATS) becomes widely used for condition monitoring and fault diagnosis. However, the conventional ATS mainly works in a serial mode, and lacks the ability of testing several equipments at the same time. That leads to low test efficiency and ATS redundancy. Especially for a large majority of equipment under test, the conventional ATS cannot meet the requirement of efficient testing. To reduce the support resource and increase test efficiency, we propose a method of design for the parallel test based on the embedded system in this paper. Firstly, we put forward the general framework of the parallel test system, and the system contains a central management system (CMS) and several distributed test subsystems (DTS). Then we give a detailed design of the system. For the hardware of the system, we use embedded architecture to design DTS. For the software of the system, we use test program set to improve the test adaption. By deploying the parallel test system, the time to test five devices is now equal to the time to test one device in the past. Compared with the conventional test system, the proposed test system reduces the size and improves testing efficiency. This is of great significance for equipment to be put into operation swiftly. Finally, we take an industrial control system as an example to verify the effectiveness of the proposed method. The result shows that the method is reasonable, and the efficiency is improved up to 500%.

Keywords: parallel test, embedded system, automatic test system, automatic test system (ATS), central management system, central management system (CMS), distributed test subsystems, distributed test subsystems (DTS)

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Authors: Dalia Kubiliūtė

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Lithuania is known as a trusted location for global business institutions, and it attracts investors with it’s competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities, including sustainability-related disclosures. Since European Union directed its policy towards transition to a climate-neutral, green, competitive, and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, etc. The financial sector is one of the key factors influencing the implementation of sustainability objectives in European Union policies and mitigating the negative effects of climate change –public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic, and critical analysis principles; hence the aim of this study is to reveal the problem of the implementation of the regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees, and time have to be dedicated in order for the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies, it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation.

Keywords: financial, legal, regulatory, sustainability

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Authors: Yen-An Tsai, Ching-Ling Lin, Jia-Woei Hou, Mei-Lien Chen

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Endocrine-disrupting chemicals (EDCs) adversely affect the endocrine system. Phthalates, also called phthalic acid esters (PAEs), are manmade chemicals that are used as stabilizing agents in personal care products such as perfumes, lotions, and cosmetics. The aim was to explore whether PAEs exposure was associated with central precocious puberty (CPP) or constitutional delays in growth (CDGP). This case-control study included 48 female with CPP, 37 male with constitutional delays in growth, and 127 normal children and was conducted from December 2011 to August 2014. All participants completed a structured questionnaire regarding socio-demographic characteristics, lifestyle, and secondary sexual characteristics. The analytical method was based on ultra performance liquid chromatography-tandem mass spectrometry (UPLC-MS/MS) with isotope dilution for the quantitative detection of several phthalate metabolites in human urine. The risk of CPP with mep, mnbp, LMW >50th percentile were higher than those with 50th percentile were higher than those with <50 percentile in model 2. In model 1, we only found higher CDGP risk in mep, mnbp, and ΣPAEs. It shows that high phthalate exposure may associate with CDGP. In this case-control study, we found PAEs exposure was associated with central precocious puberty (CPP) or constitutional delays in growth.

Keywords: phthalates, puberty, delays, growth

Procedia PDF Downloads 170

Authors: Cupian

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The expansion of Islamic banking industry seems to emphasize the banking competition in Indonesia where conventional and Islamic banks coexist. In addition, the 2007/2008 global financial crisis and deregulation have the effect on competitive conditions in Islamic banking market. In this context, this study aims at investigating competitive conditions and market power of Islamic banks in Indonesia using firm level data over the period 2006-2013. The study also attempts to identify the factors that represent the power of banking market to better study the degree of competition in this banking industry. Using samples of 27 Islamic commercial banks, the study uses a variety of structural and non-structural measures related to the traditional approach and the new empirical approach of the industrial organization (NEIO). The methodology is based on the set of measures of the competition and market power. The first measure is a set of concentration ratios (CR4) and Herfindahl-Hirschman index (HHI).The second measures are the Panzar and Ross H-statistic and the Lerner index based on econometric estimations with the aim of evaluating the market structure and measuring its power in terms of price setting. The results of the competition analysis suggest that the Islamic banking markets in Indonesia cannot be characterized by the bipolar cases of either perfect competition or monopoly over 2006-2013. That is, banks earned their revenues operating under conditions of monopolistic competition in that period. Overall, Islamic banks in Indonesia operate in a relatively less competitive environment or in high market power. It is also indicated that Islamic bank that hope to achieve higher returns should operate in the competitive environment.

Keywords: bank competition, islamic banks, market structure, profitability

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Authors: Olivia Meeschaert

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The Conference of the Parties (COP) refers to the countries that signed on to the United Nations Framework Convention on Climate Change. This annual conference provides a platform for countries to voice their major climate concerns, negotiate on a number of global issues, and come to agreements with the world’s largest emitters on how to make incremental changes that will achieve global climate goals. Historically, the outcome of COP includes major climate pledges and international agreements. COP27 will take place in Egypt at the beginning of November 2022. The 197 parties will come together to develop solutions to the dire consequences of climate change that many people around the world are already experiencing. The war in Ukraine will require a different tone from last year’s COP, particularly given that major impacts of the war are being felt throughout Europe and have had a detrimental effect on the region’s progress in achieving the benchmarks set in their climate pledges. Last year’s COP opened with many climate advocates feeling optimistic but the commitments made in Glasgow have so far remained empty promises, and the main contributors to climate change – China, the European Union, and the United States of America – have not moved fast enough.

Keywords: environment, law and policy, china, European union, united states, greenhouse gas, climate change

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Authors: Merlin Simo Tagne, Romain Rémond

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This study provides the sorption isotherm, its hysteresis and their mass transfer properties of four Central Africa Tropical woods largely used for building construction: frake, lotofa, sapelle and ayous. Characterization of these three species in particular and Central Africa tropical woods, in general, was necessary to develop conservation and treatment of wood after first transformation using the drying. Isotherms were performed using a dynamic vapor sorption apparatus (Surface Measurement Systems) at 20 and 40°C. The mass diffusivity was determined in steady state using a specific vapometer. Permeability was determined using a specialized device developed to measure over a wide range of permeability values. Permeability and mass transfer properties are determined in the tangential direction with a ‘false’ quartersawn cutting (sapelle and lotofa) and in the radial direction with a ‘false’ flatsawn cutting (ayous and frake). The sample of sapelle, ayous and frake are heartwood when lotofa contains as well as heartwood than sapwood. Results obtained showed that the temperature effect on sorption behavior was low than relative humidity effect. We also observed a low difference between the sorption behavior of our woods and hysteresis of sorption decreases when the temperature increases. Hailwood-Horrobin model’s predicts the isotherms of adsorption and desorption of ours woods and parameters of this model are proposed. Results on the characterization of mass transfer properties showed that, in the steady state, mass diffusivity decreases exponentially when basal density increases. In the phase of desorption, mass diffusivity is great than in the phase of adsorption. The permeability of ours woods are greater than Australian hardwoods but lower than temperate woods. It is difficult to define a relationship between permeability and mass diffusivity.

Keywords: tropical woods, sorption isotherm, diffusion coefficient, gas permeability, Central Africa

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Authors: Ahmed Saheel

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Enhanced oil recovery using carbon dioxide (CO₂-EOR) is a method that can increase oil production beyond what is typically achievable using conventional recovery methods by injecting, and hence storing, carbon dioxide (CO₂) in the oil reservoir. In Libya, plans are under way to source a proportion of this CO₂ from subsurface geology that is known from previous drilling to contain high volumes of CO₂. But first these subsurface volumes need to be more clearly defined and understood. Focusing on the Al-Harouj region of central Libya, ground gravity and airborne magnetic data from the LPI database and the African Magnetic Mapping Project respectively have been prepared and processed by Libyan Petroleum Institute (LPI) and Reid Geophysics Limited (RGL) to produce a range of grids and related products suitable for interpreting geological structure and to make recommendations for subsequent work that will assist CO₂ exploration for purposes of enhanced oil recovery (EOR).

Keywords: gravity, magnetic, deduced lineaments, upward continuation

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Authors: Racha Khairallah, Lamia Ben Hamida

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Our paper attempts to examine how Swiss manufacturing firms manage to learn from patent citations to improve their innovation performance. We argue that the assessment of these effects needs a detailed analysis of spillovers according to the source of knowledge with respect to formal and informal patent citations made in European and internal search, the horizontal and vertical mechanisms by which knowledge spillovers take place, and the technological characteristics of innovative firms that able them to absorb external knowledge and integrate it in their existing innovation process. We use OECD data and find evidence that knowledge spillovers occur only from horizontal and backward linkages. The importance of these effects depends on the type of citation, in which the references to non-patent literature (informal citations made in European and international searches) have a greater impact. In addition, only firms with high technological capacities benefit from knowledge spillovers from formal and informal citations. Low-technology firms fail to catch up and efficiently learn external knowledge from patent citations.

Keywords: innovation performance, patent citation, absorptive capacity, knowledge spillover mechanisms

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Authors: Debashis Nath

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Drawn from multiple reanalysis datasets, an increasing trend and westward shift in the number of Potential Vorticity (PV) intrusion events over the Pacific are evident. The increased frequency can be linked to a long-term trend in upper tropospheric (UT, 200 hPa) equatorial westerly wind and subtropical jets (STJ) during boreal winter to spring. These may be resulting from anomalous warming and cooling over the western Pacific warm pool and the tropical eastern Pacific, respectively. The intrusions brought dry and ozone rich air of stratospheric origin deep into the tropics. In the tropical UT, interannual ozone variability is mainly related to convection associated with El Niño/Southern Oscillation. Zonal mean stratospheric overturning circulation organizes the transport of ozone rich air poleward and downward to the high and midlatitudes leading there to higher ozone concentration. In addition to these well described mechanisms, we observe a long-term increasing trend in ozone flux over the northern hemispheric outer tropical (10–25°N) central Pacific that results from equatorward transport and downward mixing from the midlatitude UT and lower stratosphere (LS) during PV intrusions. This increase in tropospheric ozone flux over the Pacific Ocean may affect the radiative processes and changes the budget of atmospheric hydroxyl radicals. The results demonstrate a long-term increase in outer tropical Pacific PV intrusions linked with the strengthening of the upper tropospheric equatorial westerlies and weakening of the STJ. Zonal variation in SST, characterized by gradual warming in the western Pacific–warm pool and cooling in the central–eastern Pacific, is associated with the strengthening of the Pacific Walker circulation. In the Western Pacific enhanced convective activity leads to precipitation, and the latent heat released in the process strengthens the Pacific Walker circulation. However, it is linked with the trend in global mean temperature, which is related to the emerging anthropogenic greenhouse signal and negative phase of PDO. On the other hand, the central-eastern Pacific cooling trend is linked to the weakening of the central–eastern Pacific Hadley circulation. It suppresses the convective activity due to sinking air motion and imports less angular momentum to the STJ leading to a weakened STJ. While, more PV intrusions result from this weaker STJ on its equatorward side; significantly increase the stratosphere-troposphere exchange processes on the longer timescale. This plays an important role in determining the atmospheric composition, particularly of tropospheric ozone, in the northern outer tropical central Pacific. It may lead to more ozone of stratospheric origin in the LT and even in the marine boundary, which may act as harmful pollutants and affect the radiative processes by changing the global budgets of atmospheric hydroxyl radicals.

Keywords: PV intrusion, westerly duct, ozone, Central Pacific

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Authors: Annisa Siu, Ping Zou

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Background: Existent literature addressing Asian American children and adolescents reveals that this population is experiencing rates of depression comparable to those of European American and other ethnic minority youths. Within the last decade, increased attention has been given to Asian American adolescent mental health. Methods: 44 articles were extracted from Pubmed, PsycINFO, EMBASE, and Proquest CINAHL. Data were subject to thematic analyses and categorized into factors under individual, familial, and community levels. Results: Of all the individual factors, age and gender were the most supported in their relationship with depressive symptoms. Likewise, living situations, parent-child relations, peer relations, and broader environmental factors were strongly evidenced. The remaining psychosocial factors faced contrary evidence or were insubstantially addressed in the empirical literature. Discussion: The identified psychosocial factors within this study offer a starting point for future research to examine what factors should be included in formal or informal methods of screening/consultations. Clinicians should aim to understand the cultural influences specific to Asian American adolescents, particularly the central role that family relations may have on their depressive symptoms. Conclusion: Low awareness of culturally linked expressions of psychological distress can lead to misdiagnosis or under-diagnosis of depression in Asian American youth. Further evidence is needed to clarify the relationship of psychosocial factors linked to Asian American adolescent depressive symptoms.

Keywords: adolescent, Asian American, depression, psychosocial factors

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Authors: Pascal Mwenge, Jefrey Pilusa, Tumisang Seodigeng

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The current study investigated the effect of catalyst ratio and methanol to oil ratio on biodiesel production by using central composite design. Biodiesel was produced by transesterification using sodium hydroxide as a homogeneous catalyst, a laboratory scale reactor consisting of flat bottom flask mounts with a reflux condenser and a heating plate was used to produce biodiesel. Key parameters, including, time, temperature and mixing rate were kept constant at 60 minutes, 60 ^oC and 600 RPM, respectively. From the results obtained, it was observed that the biodiesel yield depends on catalyst ratio and methanol to oil ratio. The highest yield of 50.65% was obtained at catalyst ratio of 0.5 wt.% and methanol to oil mole ratio 10.5. The analysis of variances of biodiesel yield showed the R Squared value of 0.8387. A quadratic mathematical model was developed to predict the biodiesel yield in the specified parameters ranges.

Keywords: ANOVA, biodiesel, catalyst, CCD, transesterification

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Authors: Nur Aziza Luxfiati

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Clustering is partitioning data sets into sub-sets or groups in such a way that elements certain properties have shared property settings with a high level of similarity within one group and a low level of similarity between groups. . The K-Means algorithm is one of thealgorithmsclustering as a grouping tool that is most widely used in scientific and industrial applications because the basic idea of the kalgorithm is-means very simple. In this research, applying the technique of clustering using the k-means algorithm as a method of solving the problem of national development imbalances between regions in Central Java Province based on macroeconomic indicators. The data sample used is secondary data obtained from the Central Java Provincial Statistics Agency regarding macroeconomic indicator data which is part of the publication of the 2019 National Socio-Economic Survey (Susenas) data. score and determine the number of clusters (k) using the elbow method. After the clustering process is carried out, the validation is tested using themethodsBetween-Class Variation (BCV) and Within-Class Variation (WCV). The results showed that detection outlier using z-score normalization showed no outliers. In addition, the results of the clustering test obtained a ratio value that was not high, namely 0.011%. There are two district/city clusters in Central Java Province which have economic similarities based on the variables used, namely the first cluster with a high economic level consisting of 13 districts/cities and theclustersecondwith a low economic level consisting of 22 districts/cities. And in the cluster second, namely, between low economies, the authors grouped districts/cities based on similarities to macroeconomic indicators such as 20 districts of Gross Regional Domestic Product, with a Poverty Depth Index of 19 districts, with 5 districts in Human Development, and as many as Open Unemployment Rate. 10 districts.

Keywords: clustering, K-Means algorithm, macroeconomic indicators, inequality, national development

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Gianvito Colucci, Valeria Di Cosmo, Matteo Nicoli, Orsola Maria Robasto, Laura Savoldi

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The hydrogen value chain deployment is likely to be boosted in the near term by the energy security measures planned by European countries to face the recent energy crisis. In this context, some countries are recognized to have a crucial role in the geopolitics of hydrogen as importers, consumers and exporters. According to the European Hydrogen Backbone Initiative, Italy would be part of one of the 5 corridors that will shape the European hydrogen market. However, the set targets are very ambitious and require large investments to rapidly develop effective hydrogen policies: in this regard, scenario analysis is becoming increasingly important to support energy planning, and energy system optimization models appear to be suitable tools to quantitively carry on that kind of analysis. The work aims to assess the competitiveness of hydrogen in contributing to the Italian energy security in the coming years, under different price and import conditions, using the energy system model TEMOA-Italy. A wide spectrum of hydrogen technologies is included in the analysis, covering the production, storage, delivery, and end-uses stages. National production from fossil fuels with and without CCS, as well as electrolysis and import of low-carbon hydrogen from North Africa, are the supply solutions that would compete with other ones, such as natural gas, biomethane and electricity value chains, to satisfy sectoral energy needs (transport, industry, buildings, agriculture). Scenario analysis is then used to study the competition under different price and import conditions. The use of TEMOA-Italy allows the work to catch the interaction between the economy and technological detail, which is much needed in the energy policies assessment, while the transparency of the analysis and of the results is ensured by the full accessibility of the TEMOA open-source modeling framework.

Keywords: energy security, energy system optimization models, hydrogen, natural gas, open-source modeling, scenario analysis, TEMOA

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Authors: Jojo Y. C. Mo

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Memories are good. They remind us of people, places and experiences that we cherish. But memories cannot be changed and there may well be memories that we do not want to remember. This is particularly true in relation to information which causes us embarrassment and humiliation or simply because it is private – we all want to erase or delete such information. This desire to delete is recently recognised by the Court of Justice of the European Union in the 2014 case of Google Spain SL, Google Inc. v Agencia Española de Protección de Datos, Mario Costeja González in which the court ordered Google to remove links to some information about the complainant which he wished to be removed. This so-called ‘right to be forgotten’ received serious attention and significantly, the European Council and the European Parliament enacted the General Data Protection Regulation (GDPR) to provide a more structured and normative framework for implementation of right to be forgotten across the EU. This development in data protection laws will, undoubtedly, have significant impact on companies and co-operations not just within the EU but outside as well. Hong Kong, being one of the world’s leading financial and commercial center as well as one of the first jurisdictions in Asia to implement a comprehensive piece of data protection legislation, is therefore a jurisdiction that is worth looking into. This article/project aims to investigate the following: a) whether there is a right to be forgotten under the existing Hong Kong data protection legislation b) if not, whether such a provision is necessary and why. This article utilises a comparative methodology based on a study of primary and secondary resources, including scholarly articles, government and law commission reports and working papers and relevant international treaties, constitutional documents, case law and legislation. The author will primarily engage literature and case-law review as well as comparative and doctrinal analyses. The completion of this article will provide privacy researchers with more concrete principles and data to conduct further research on privacy and data protection in Hong Kong and internationally and will provide a basis for policy makers in assessing the rationale and need for a right to be forgotten in Hong Kong.

Keywords: privacy, right to be forgotten, data protection, Hong Kong

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Authors: Olivia Meeschaert

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The Conference of the Parties (COP) refers to the countries that signed on to the United Nations Framework Convention on Climate Change. This annual conference provides a platform for countries to voice their major climate concerns, negotiate on a number of global issues, and come to agreements with the world’s largest emitters on how to make incremental changes that will achieve global climate goals. Historically, the outcome of COP includes major climate pledges and international agreements. COP27 will take place in Egypt at the beginning of November 2022. The 197 parties will come together to develop solutions to the dire consequences of climate change that many people around the world are already experiencing. The war in Ukraine will require a different tone from last year’s COP, particularly given that major impacts of the war are being felt throughout Europe and have had a detrimental effect on the region’s progress in achieving the benchmarks set in their climate pledges. Last year’s COP opened with many climate advocates feeling optimistic but the commitments made in Glasgow have so far remained empty promises, and the main contributors to climate change – China, the European Union, and the United States of America – have not moved fast enough.

Keywords: environment, law and policy, climate change, greenhouse gas, conference of the parties, China, United States, European Union

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Authors: Tom Turner

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The recent financial crisis in 2008 and the growing inequality in developed industrial societies would appear to present significant challenges to capitalism and the free market. Yet there have been few substantial mainstream political or economic challenges to the dominant capitalist and market paradigm to-date. There is no dearth of critical and theoretical (academic) analyses regarding the prevailing systems failures. Yet despite the growing inequality in the developed industrial societies and the financial crisis in 2008 few commentators have advocated the comprehensive socialization or state ownership of the means of production to our knowledge – a core principle of radical Marxism in the 19th and early part of the 20th century. Undoubtedly the experience in the Soviet Union and satellite countries in the 20th century has cast a dark shadow over the notion of centrally controlled economies and state ownership of the means of production. In this paper, we explore the history of a doctrine advocating the socialization or state ownership of the means of production that was central to Marxism and socialism generally. Indeed this doctrine provoked an intense and often acrimonious debate especially for left-wing parties throughout the 20th century. The debate within the political economy tradition has historically tended to divide into a radical and a revisionist approach to changing or reforming capitalism. The radical perspective views the conflict of interest between capital and labor as a persistent and insoluble feature of a capitalist society and advocates the public or state ownership of the means of production. Alternatively, the revisionist perspective focuses on issues of distribution rather than production and emphasizes the possibility of compromise between capital and labor in capitalist societies. Over the 20th century, the radical perspective has faded and even the social democratic revisionist tradition has declined in recent years. We conclude with the major challenges that confront both the radical and revisionist perspectives in the development of viable policy agendas in mature developed democratic societies. Additionally, we consider whether state ownership of the means of production still has relevance in the 21st century and to what extent state ownership is off the agenda as a political issue in the political mainstream in developed industrial societies. A central argument in the paper is that state ownership of the means of production is unlikely to feature as either a practical or theoretical solution to the problems of capitalism post the financial crisis among mainstream political parties of the left. Although the focus here is solely on the shifting views of the radical and revisionist socialist perspectives in the western European tradition the analysis has relevance for the wider socialist movement.

Keywords: sate ownership, ownership means of production, radicals, revisionists

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Authors: Jordan Georgiev Deliversky

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Fight against migrant smuggling has been put as a priority issues at the European Union policy agenda for more than a decade. The trafficked person, who has been targeted as the object of criminal exploitation, is specifically unique for human trafficking. Generally, the beginning of human trafficking activities is related to profit from the victim’s exploitation. The objective of this paper is to present measures that could result in the limitation of corruption mainly through analyzing the existing legislation framework against corruption in Europe. The analysis is focused on exploring the multiple origins of factors influencing migration processes in Europe, as corruption could be characterized as one of the most significant reasons for refugees to flee their countries. The main results show that law enforcement must turn the focus on the financing of the organized crime groups that are involved in migrant smuggling activities. Corruption has a significant role in managing smuggling operations and in particular when criminal organizations and networks are involved. Illegal migrants and refugees usually represent significant sources of additional income for officials involved in the process of boarding protection and immigration control within the European Union borders.

Keywords: corruption, influence, human smuggling, legislation, migration

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Authors: Jerry John T. M., Sylas V. P., Shijo Joy

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Hydrogen is the most essential gas that can be used for many purposes. During the production of hydrogen using raw materials like Soil and leftover cooked rice water (kanjivellam), the major by-product formed is water. Soil is collected from three different places in kottayam district: Kallara, Meenachilar, and Athirampuzha. Collected samples are mixed with rice water and tested for traces of hydrogen using a biohydrogen sensor after 72 hours. The result was the presence of hydrogen in all the 3 samples. After streaking, PCR and gel electrophoresis detected the bacteria which produced the hydrogen. RGCB Thiruvananthapuram conducted the sequencing of the PCR resultant. And identified the bacterial strains. Five variants of Bacillus bacteria ( (1) Bacillus cereus strain JTM GenBank: OP278839.1 (2) Bacillus toyonensis strain JTM2 GenBank: OP278841.1 (3) Bacillus anthracis strain JTM_SR2989-3-R_H08 GenBank: OP278960.1 (4) Bacillus thuringiensis strain JRY1 GenBank: OP278976.1 (5) Bacillus anthracis strain JTM_SR2989-3-F_H07 GenBank: OP278959.1 ) are identified and successfully registered in NCBI Gen bank. These Bacillus bacteria are major types of Rhizobacteria that can form spores and can survive in the soil for a long time period under harsh environmental conditions. Also, plant growth is enhanced by PGPR (Plant growth promoting rhizobacteria) through the induction of systemic resistance, antibiosis, and competitive omission. The molecular sequencing was submitted to the NCBI Gen Bank, and the accession numbers were allotted for the bacterial cultures.

Keywords: bio hydrogen production, bacterial bio hydrogen production, plant related to bacillus bacteria., bacillus bacteria study

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Authors: Sina Mahdavi

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Multiple sclerosis (MS) is a progressive inflammatory autoimmune disease of the CNS that affects the myelination process in the central nervous system (CNS). Complex interactions of various "environmental or infectious" factors may act as triggers in autoimmunity and disease progression. The association between viral infections, especially human immunodeficiency virus (HIV) and MS is one potential cause that is not well understood. This study aims to summarize the available data on human HIV infection in MS disease progression. In this study, the keywords "Multiple sclerosis", "Human immunodeficiency virus ", and "Central nervous system" in the databases PubMed, and Google Scholar between 2017 and 2022 were searched and 15 articles were chosen, studied, and analyzed. Revealed histologic signs of "MS-like illness" in the setting of HIV, which comprised widespread demyelination with reactive astrocytes, foamy macrophages, and perivascular infiltration with inflammatory cells, all of which are compatible with MS lesions. Human immunodeficiency virus causes dysfunction of the immune system, especially characterized by hypergammaglobulinemia and chronic activation of B cells. Activation of B cells leads to increased synthesis of immunoglobulin and finally to an excess of free light chains. Free light chains may be involved in autoimmune responses against neurons. There is a high expression of HIV during the course of MS, which indicates the relationship between HIV and MS, that this virus can play a role in the development of MS by creating an inflammatory state. Therefore, measures to modulate the expression of HIV may be effective in reducing inflammatory processes in demyelinated areas of MS patients.

Keywords: multiple sclerosis, human immunodeficiency virus, central nervous system, autoimmunity

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Authors: Sarah A. Tobin

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Social justice outcomes, derived from customer satisfaction, serve as a main pathway and conduit for achieving Sustainable Development Goals (SDGs) because they prompt democratizing and socially-inclusive effects that are consistent with Islamic economic values. This paper argues that achieving higher levels of social justice and the SGDs is possible only through the realization of Islamic banking and finance customer satisfaction that aligns with Islamic values in the tradition of the Shari`a (or Islamic law). Through this key manifestation of Shari`a in the banks, social justice aims of achieving SDGs become possible. This paper utilizes a case study of a large-scale survey (N=127) comparing customer satisfaction between a conventional and an Islamic bank in Amman, Jordan. Based on a series of linear regressions, the statistically-significant findings suggest that when overall customer satisfaction is high, customers are more likely to become empowered citizens demanding inclusive, quality services and corruption-free management, as well as attribute their experiences to the Islamic nature of the financial endeavors. Social justice interests and expectations increase (and SDGs are more likely met) when a customer has high levels of satisfaction. The paper concludes with policy recommendations for Islamic financial institutions that enhance customer service experiences for better achieving the social justice aims of the Islamic economy and SDGs, including transparency in transactions, exemplary customer service and follow up, and attending to Islamic values in the aesthetics of bank.

Keywords: customer satisfaction, Islamic economy, social justice, sustainable development goals

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Authors: Wafa Ghonaim

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Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Punit Kumar, Niraj Kumar

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The influence of transverse surface roughness on EHL characteristics has been investigated numerically using an extensive set of full EHL line contact simulations for shear-thinning lubricants under pure sliding condition. The shear-thinning behavior of lubricant is modeled using Carreau viscosity equation along with Doolittle-Tait equation for lubricant compressibility. The surface roughness is assumed to be sinusoidal and it is present on the stationary surface. It is found that surface roughness causes sharp pressure peaks along with reduction in central and minimum film thickness. With increasing amplitude of surface roughness, the minimum film thickness decreases much more rapidly as compared to the central film thickness.

Keywords: EHL, Carreau, shear-thinning, surface roughness, amplitude, wavelength

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Authors: Chrysanthos Maraveas, Argiris Plesias, Garyfalia G. Triantafyllou, Konstantinos Petronikolos

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The current paper presents a structural assessment and proposals for retrofit of the National Youth Foundation Building, an existing reinforced concrete (RC) building in the city of Igoumenitsa, Greece. The building is scheduled to be renovated in order to create a Municipal Cultural Center. The bearing capacity and structural integrity have been investigated in relation to the provisions and requirements of the Greek Retrofitting Code (KAN.EPE.) and European Standards (Eurocodes). The capacity of the existing concrete structure that makes up the two central buildings in the complex (buildings II and IV) has been evaluated both in its present form and after including several proposed architectural interventions. The structural system consists of spatial frames of columns and beams that have been simulated using beam elements. Some RC elements of the buildings have been strengthened in the past by means of concrete jacketing and have had cracks sealed with epoxy injections. Static-nonlinear analysis (Pushover) has been used to assess the seismic performance of the two structures with regard to performance level B1 from KAN.EPE. Retrofitting scenarios are proposed for the two buildings, including type Λ steel bracings and placement of concrete shear walls in the transverse direction in order to achieve the design-specification deformation in each applicable situation, improve the seismic performance, and reduce the number of interventions required.

Keywords: earthquake resistance, pushover analysis, reinforced concrete, retrofit, strengthening

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