Search results for: New Development Bank

Authors: Ademoyegun Olusegun

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The advancement of industry in any given state involves a range of processes that entail entrepreneurship and innovative skill attainment, among others, for the development of an economy. This article studied the impact of innovative and entrepreneurship skill attainment as the panacea of the growth of industry for economic development in Nigeria. Content analysis was employed as an instrument on data obtained from secondary resources which include journals, magazines, Workshop Articles, the Internet, interviewing etc. this is preferred because of the absence of sequential data related to entrepreneurship and innovation on sustainable economic growth in Nigeria. The theory of innovative Entrepreneurship was used as a theoretical framework. Findings revealed that Entrepreneurship skill attainment will induce innovation that will accelerate the growth of Industry for the advancement of the Economy. The study recommended that the government should invest adequately in entrepreneurship skill attainment and create an enabling environment for innovation.

Keywords: entrepreneurship, innovation, skill attainment, panacea, sustainable development

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Authors: Rajinder Singh, Ram Valluru

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Chain Ladder (CL) method, Expected Loss Ratio (ELR) method and Bornhuetter-Ferguson (BF) method, in addition to more complex transition-rate modeling, are commonly used actuarial reserving methods in general insurance. There is limited published research about their relative performance in the context of Mortgage Insurance (MI). In our experience, these traditional techniques pose unique challenges and do not provide stable claim estimates for medium to longer term liabilities. The relative strengths and weaknesses among various alternative approaches revolve around: stability in the recent loss development pattern, sufficiency and reliability of loss development data, and agreement/disagreement between reported losses to date and ultimate loss estimate. CL method results in volatile reserve estimates, especially for accident periods with little development experience. The ELR method breaks down especially when ultimate loss ratios are not stable and predictable. While the BF method provides a good tradeoff between the loss development approach (CL) and ELR, the approach generates claim development and ultimate reserves that are disconnected from the ever-to-date (ETD) development experience for some accident years that have more development experience. Further, BF is based on subjective a priori assumption. The fundamental shortcoming of these methods is their inability to model exogenous factors, like the economy, which impact various cohorts at the same chronological time but at staggered points along their life-time development. This paper proposes an alternative approach of parametrizing the loss development curve and using logistic regression to generate the ultimate loss estimate for each homogeneous group (accident year or delinquency period). The methodology was tested on an actual MI claim development dataset where various cohorts followed a sigmoidal trend, but levels varied substantially depending upon the economic and operational conditions during the development period spanning over many years. The proposed approach provides the ability to indirectly incorporate such exogenous factors and produce more stable loss forecasts for reserving purposes as compared to the traditional CL and BF methods.

Keywords: actuarial loss reserving techniques, logistic regression, parametric function, volatility

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Authors: Haytham Yassine

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This article mainly aims to detect and understand how money laundering activities are executed by transport of cash, identifying the underlying factors and separating legitimate from illegitimate usage of cash and how it is being used. This research provides academics with additional literature and provides bank supervisors and practitioners with a better understanding of sources and uses of cash in criminal activities and how cash is used in the laundering mechanism. Data are gathered through survey in the Middle East and North Africa region and review of the available research. The results of the analysis will help distinguish the factors affecting preference for cash rather other payment instruments in the region, identify what causes the tendency to launder illegal proceeds through cash transportation and how illegal cash is being laundered and moved. On the other hand, this paper sheds the light on major cash generating criminal activities, its sources and main destinations.

Keywords: illegitimate activities, cash, money laundering, terrorism financing

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Authors: Maxwell Ladogo Abilla

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As evidence from the 2007–2008 and 2010 global food and financial crises revealed that food systems were under stress, the idea of sustainable food systems rose to prominence in the discussion of food security. The idea suggests moving away from a conception of food security that emphasizes production in favor of one that is more socially and environmentally conscious and interested in tackling a wide range of issues that have rendered the food system dysfunctional. This study evaluates the efforts made by international development organizations to increase food security in the area, taking into account the persistence of poverty and food insecurity in northern Ghana, utilizing the idea of sustainable food systems as the evaluation criterion. The study used triangulation to address the research questions by combining qualitative interview data with documentary analysis. To better comprehend the concept of sustainability, a variety of discourses and concepts are used, which results in the development of eight doable objectives for attaining sustainable food systems. The study finds that the food system in northern Ghana is unsustainable because of three kinds of barriers, with the practical objectives of developing sustainable food systems serving as the assessment criteria (natural, cultural and economic, and institutional). According to an evaluation of the World Food Programme's development support in northern Ghana, regional challenges to attaining sustainable food systems continue to be unaddressed by global development initiatives. Due to institutional constraints, WFP's interventions fell short of their promise. By demonstrating the need for development partners to enhance institutional efficiency and coordination, enable marginalized communities to access their rights, and prioritize agricultural irrigation in the area, the study makes a contribution to development policy and practice in northern Ghana.

Keywords: sustainable, food security, development, institutional

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Authors: Saima Akbar

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The global financial crisis severely and adversely impacted the Pakistanis’ financial setups with far-reaching consequences for its victims. This study aimed to analyze the various determinants of the banks’ financial performance in Pakistan. The stepwise multiple regression analysis and pre-post analysis were carried out in this regard by using SPSS ver 22. The study found that the assets quality is the most influential determinant of return over assets followed by bank size and solvency. Advances, liquidity, investments, and size have positive while poor assets quality and deposits have a negative impact on the return over assets. The comparison of the pre-crisis and post-crisis coefficient values of the independent variables revealed that the global financial crisis had exerted a significant impact on the relative ability of the financial performance determinants to explain variations in return over assets.

Keywords: pre-crisis, post-crisis, coefficient values, determinants

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Authors: Lorena F. Axinte

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Territorial rescaling is a universal practice in the UK, following a logic of agglomeration and competition as the only chance for cities to thrive. Cardiff Capital Region is one of the latest examples, and its governance structures and developmental narratives are currently being shaped. Its evolution must be compatible with the Wellbeing of Future Generations Act, a Welsh legislation that requires public bodies to put sustainability at the core of all actions. Departing from this case study, the project follows the evolution of Cardiff Capital Region and assesses it based on a new a conceptual framework that connects the notions of regenerative development, collaborative governance, and progressive regionalism. The hypothetical synergies between these different theoretical perspectives are demonstrated, inferring that if regenerative development is aimed at, it must necessarily start with collaborative modes of governance. The objective is to explore (a) whether expanding the network of active stakeholders who get to intervene in the governance structure can contribute to a more progressive definition and development of the city region and (b) whether this can be considered a pathway towards regenerative development. The exploratory fieldwork conducted during the initial phase of the project used qualitative methods, which will be complemented next by different participatory research approaches, as well as a quantitative analysis. Despite being in its early days, the study is showing that a wider range of voices can indeed change priorities, reconcile and balance between the economic drivers and the wider social, economic, cultural and environmental aspects.

Keywords: Cardiff Capital Region, collaborative governance, progressive regionalism, regenerative development

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Authors: M. Taghavi Zavareh, H. Saremi

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Railway transportation is one of the types of transportation systems which, due to the advantages such as the ability to transport a large number of passengers, environmental protection, low energy consumption, and contribution to tourism, has importance. The existence of suitable and accessible stations is one of the requirements that leads to better performance and plays a significant role in the economic, social, political, and cultural development of urban areas. This paper aims to propose a framework for locating railway passenger stations. This research used descriptive-analytical methods and library tools to answer which definitions and theoretical approaches are suitable for the location of railway passenger stations. The results showed that theoretical approaches such as Transit-Oriented Development and Urban Regeneration are of the utmost importance theoretical bases in the field of research. Moreover, we studied three stations in Iran to find out about real trends and criteria in this research. This study also proposed four major criteria including accessibility, development, rail related and economics, and environmental harmony. Ultimately with an emphasis on the proposed criteria, the study concludes that the combination of Transit-Oriented Development and Urban Regeneration is the most suitable framework to locate railway passenger stations.

Keywords: railway passenger station, railway station, site selection, transit-oriented development, urban regeneration

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Authors: Pauliasi Tony Fakahau

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This paper provides an overview of the impact of the revenue reform programme on vulnerable communities in the Kingdom of Tonga. Economic turmoil and mismanagement during the late 1990s forced the government to seek technical and financial assistance from the Asian Development Bank to undertake a comprehensive Economic and Public Sector Reform (EPSR) programme. The EPSR is a Western model recommended by donor agencies as the solution to Tonga’s economic challenges. The EPSR programme included public sector reform, private sector growth, and revenue generation. Tax reform was the main tool for revenue generation, which set out to strengthen tax compliance and administration as well as implement a value-added consumption tax. The EPSR is based on Western values and ideology but failed to recognise that Tongan cultural values are important to the local community. Two participant groups were interviewed. Participant group one consisted of 51 people representing vulnerable communities. Participant group two consisted of six people from the government and business sector who were from the elite of Tongan society. The Kakala Research Methodology provided the framework for the research, and the Talanoa Research Method was used to conduct semi-structured interviews in the homes of the first group and in the workplaces of the second group. The research found a heavy burden of the consumption tax on the purchasing power of participant group one (vulnerable participants), having an impact on nearly every financial transaction they made. Participant group ones’ main financial priorities were kavenga fakalotu (obligations to the church), kavenga fakafāmili (obligations to the family) and kavenga fakafonua (obligations to cultural events for the village, nobility, and royalty). The findings identified inequalities of the revenue reform, especially from consumption tax, for vulnerable people and communities compared to the elite of society. The research concluded that government and donor agencies need ameliorating policies to reduce the burden of tax on vulnerable groups more susceptible to the impact of revenue reform.

Keywords: tax reform, tonga vulnerable community revenue, revenue reform, public sector reform

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Authors: Csilla Paksi-Petró

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The Hungarian national public administration training system providing continuous, lifelong further training to some ten thousand executives in public administration was launched in 2014, adding skills and competency development to the previous training solutions, which had a mainly legal and professional approach. The executive training system is being continuously developed since tackling the existing qualitative, and quantitative challenges calls for the introduction of novel, innovative solutions. With a gap-filling character, this study presents, in brief, the last eight years of system of executive training in public administration, supported by the outcomes of the author's empirical research, makes suggestions for the possible directions of its further development. Through this article, the reader may obtain an overview of the current Hungarian civil service further training system, its institution system, the method of its application, its target groups, its results, and its development prospects. By reading the article, the reader will get acquainted with the good practices of the Hungarian civil service further training system.

Keywords: coaching, e-learning, executive development, further-training

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Authors: Björn de Kruijf, Arjen Edzes, Sietske Waslander

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In an ever-quickly changing society, lifelong development is seen as a solution to labor market problems by politicians and policymakers. In this paper, we investigate how policy instruments are used to increase participation in lifelong development and on which behavioral principles policy is based. Digitization, automation, and an aging population change society and the labor market accordingly. Skills that were once most sought after in the workforce can become abundantly present. For people to remain relevant in the working population, they need to continue adapting new skills useful in the current labor market. Many reports have been written that focus on the role of lifelong development in this changing society and how lifelong development can help keep people adapt and stay relevant. Inspired by these reports, governments have implemented a broad range of policies to support participation in lifelong development. The question we ask ourselves is how government policies promote participation in lifelong development. This stems from a complex interplay of policy instruments and learning. Regulation, economic and soft instruments can be combined to promote lifelong development, and different types of education further complex policies on lifelong development. Literature suggests that different stages in people’s lives might warrant different methods of learning. Governments could anticipate this in their policies. In order to influence people’s behavior, the government can tap into a broad range of sociological, psychological, and (behavioral) economic principles. The traditional economic assumption that behavior is rational is known to be only partially true, and the government can use many biases in human behavior to stimulate participation in lifelong development. In this paper, we also try to find which biases the government taps into to promote participation if they tap into any of these biases. The goal of this paper is to analyze government policies intended to promote participation in lifelong development. To do this, we develop a framework to analyze the policies on lifelong development. We specifically incorporate the role of learning and the behavioral principles underlying policy instruments in the framework. We apply this framework to the case of the Netherlands, where we examine a set of policy documents. We single out the policies the government has put in place and how they are vertically and horizontally related. Afterward, we apply the framework and classify the individual policies by policy instrument and by type of learning. We find that the Dutch government focuses on formal and non-formal learning in their policy instruments. However, the literature suggests that learning at a later age is mainly done in an informal manner through experiences.

Keywords: learning, lifelong development, policy analysis, policy instruments

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Authors: Ayanori Sugiyama, Takahisa Hanei, Yasuhide Higo

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Domestic demand for the construction of tunnels has been increasing in recent years in Japan. To meet this demand, various construction materials and construction methods have been developed to attain higher strength, reduction of negative impact on the environment and improvement for working conditions. In this report, we would like to introduce the newly developed shotcrete with superior hardening properties which were tested through the actual machine scale and its workability and strength development were evaluated. As a result, this new tunnel construction method was found to achieve higher workability and quicker strength development in only a couple of minutes.

Keywords: accelerator, shotcrete, tunnel, high-strength

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Authors: Hong Chen, Li Heping

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China's urbanization rate has exceeded 60%, and in the long term, China's urbanization development will enter a new stage of transformation and development focusing on quality improvement, and urban renewal has become an important part of China's urban development. In the past, many cities in the process of renewal in order to maximize the pursuit of economic interests, large-scale demolition of the old to build new, accelerating the disappearance of regional history and culture, aggravating the homogenization of the city. With the changes in the economic and social development environment, urban renewal requires a more comprehensive perspective of action. Starting from the perspective of the core of urban management theory, this paper is oriented to culture-enabled urban renewal and takes the urban renewal of Changbin Road Area in Yuzhong District of Chongqing as an example to expound the problems and renewal strategies in its urban renewal, so as to provide references for the urban renewal of other Chinese cities in the new period.

Keywords: Urban management, Urban culture, Urban renewal in mountainous areas, urban renewal

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Authors: Somayeh Zeinali

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A component is generally defined as a piece of executable software with a published interface. Component-based software engineering (CBSE) has become recognized as a new sub-discipline of software engineering. In the component-based software development, components cannot be completely secure and thus easily become vulnerable. Some researchers have investigated this issue and proposed approaches to detect component intrusions or protect distributed components. Software security also refers to the process of creating software that is considered secure.The terms “dependability”, “trustworthiness”, and “survivability” are used interchangeably to describe the properties of software security.

Keywords: component-based software development, component-based software engineering , software security attributes, dependability, component

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Authors: Aminu Hamza

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This study examines the factors that play vital role in the adoption of mobile payment system among consumers in Nigeria. Technology Acceptance Model (TAM) was used with two additional variables to form the conceptual model. The study was conducted in three Universities in Kano state, Nigeria. Convenience sampling method was used with a total valid 202 respondents which involved the students of Bayero University Kano (BUK), Northwest University, and Kano University of Science and Technology (KUST) Wudil, Kano, Nigeria. Results of the regression analysis revealed that Perceived ease of use (PEOU) and Perceived usefulness (PU) have significant and positive correlation with the behavioral intention to adopt mobile payment system. The findings of this study would be useful to the policy makers Central Bank of Nigeria (CBN), mobile network operators and providers of the services.

Keywords: mobile payment system, Nigeria, technology adoption, technology acceptance model

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Authors: Lavrentiadou S. N., Angelou V., Chatzimisios K., Papazoglou L.

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The aim of this study was the isolation and culture of keratinocytes and fibroblasts from feline skin to ultimately create an artificial engineered skin (including dermis and epidermis) useful for the effective treatment of large cutaneous deficits in cats. Epidermal keratinocytes and dermal fibroblasts were freshly isolated from skin biopsies using an 8 mm biopsy punch obtained from 8 healthy cats that had undergone ovariohysterectomy. The owner’s consent was obtained. All cats had a complete blood count and a serum biochemical analysis and were screened for feline leukemia virus (FeLV) and feline immunodeficiency virus (FIV) preoperatively. The samples were cut into small pieces and incubated with collagenase (2 mg/ml) for 5-6 hours. Following digestion, cutaneous cells were filtered through a 100 μm cell strainer, washed with DMEM, and grown in DMEM supplemented with 10% FBS. The undigested epidermis was washed with DMEM and incubated with 0.05% Trypsin/0.02% EDTA (TE) solution. Keratinocytes recovered in the TE solution were filtered through a 100 μm and a 40 μm cell strainer and, following washing, were grown on a collagen type I matrix in DMEM: F12 (3:1) medium supplemented with 10% FΒS, 1 μm hydrocortisone, 1 μm isoproterenol and 0.1 μm insulin. Both fibroblasts and keratinocytes were grown in a humidified atmosphere with 5% CO2 at 37oC. The medium was changed twice a week and cells were cultured up to passage 4. Cells were grown to 70-85% confluency, at which point they were trypsinized and subcultured in a 1:4 dilution. The majority of the cells in each passage were transferred to a freezing medium and stored at -80oC. Fibroblasts were frozen in DMEM supplemented with 30% FBS and 10% DMSO, whereas keratinocytes were frozen in a complete keratinocyte growth medium supplemented with 10% DMSO. Both cell types were thawed and successfully grown as described above. Therefore, we can create a bank of fibroblasts and keratinocytes, from which we can recover cells for further culture and use for the generation of skin equivalent in vitro. In conclusion, cutaneous cell isolation and cell culture and expansion were successfully developed. To the authors’ best knowledge, this is the first study reporting isolation and culture of keratinocytes and fibroblasts from feline skin. However, these are preliminary results and thus, the development of autologous-engineered feline skin is still in process.

Keywords: cat, fibroblasts, keratinocytes, skin equivalent, wound

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Authors: Thendo Mafame

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There is a need for academic research to focus on solving or contributing to solving real-world societal problems. Transdisciplinary research (TDR) provides a way to produce functional and applicable research findings, which can be used to advance developmental causes. This TDR study explores ways in which South Africa’s spatial divide, entrenched through decades of discriminatory planning policies, can be restructured to bring about equitable access to places of employment, business, leisure, and service for previously marginalised South Africans. It does by exploring the potential of the transit-orientated development (TOD) model to restructure and revitalise urban spaces in a collaborative model. The study focuses, through a case study, on the Du Toit station precinct in the town of Stellenbosch, on the peri-urban edge of the city of Cape Town, South Africa. The TOD model is increasingly viewed as an effective strategy for creating sustainable urban redevelopment initiatives, and it has been deployed successfully in other parts of the world. The model, which emphasises development density, diversity of land-use and infrastructure and transformative design, is customisable to a variety of country contexts. This study made use of case study approach with mixed methods to collect and analyse data. Various research methods used include the above-mentioned focus group discussions and interviews, as well as observation, transect walks This research contributes to the professional development of TDR studies that are focused on urbanisation issues.

Keywords: case study, integrated urban development, land-use, stakeholder collaboration, transit-oriented development, transdisciplinary research

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Authors: Siriwan Saksiriruthai

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This paper reviews and analyzes impact of foreign migration on innovation for Thailand. With the analysis of decades of industrial and economic development, Thailand has attracted investment by providing cheap labor and low cost of production. Foreign migrant substantially contribute to the development by supplying lower wages with low-skilled workers. However, it is revealed that foreign low-skilled labor influx has a negative effect on innovation. Firms concentrate on benefits from low cost of production and are not motivated to invest for innovation. Therefore, with the emerging of new economies where lower wage laborers are offered, Thailand has to promote innovation to maintain economic development sustainability.

Keywords: migration, innovation, Thailand, foreign

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Authors: Manoela Cabo da Silva, Elton Fernandes, Ricardo Pacheco, Heloisa Pires

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This study examined cointegration and causal relationships between economic growth and regular domestic and international passenger air transport in Brazil. Total passengers embarked and disembarked were used as a proxy for air transport activity and gross domestic product (GDP) as a proxy for economic development. The test spanned the period from 2000 to 2015 for domestic passenger traffic and from 1995 to 2015 for international traffic. The results confirm the hypothesis that there is cointegration between passenger traffic series and economic development, showing a bi-directional Granger causal relationship between domestic traffic and economic development and unidirectional influence by economic growth on international passenger air transport demand. Variance decomposition of the series showed that domestic air transport was far more important than international transport to promoting economic development in Brazil.

Keywords: air passenger transport, cointegration, economic growth, GDP, Granger causality

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Authors: Igor Kontorovich, Rina Zazkis

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We present a framework of researcher knowledge ‎development in conducting a study in mathematics education. The key ‎components of the framework are: knowledge germane to conducting a ‎particular study, processes of knowledge accumulation, and catalyzing ‎filters that influence a researcher decision making. The components of ‎the framework originated from a confluence between constructs and ‎theories in Mathematics Education, Higher Education and Sociology. ‎Drawing on a self-reflective interview with a leading researcher in ‎mathematics education, professor Michèle Artigue, we illustrate how ‎the framework can be utilized in data analysis. Criteria for framework ‎evaluation are discussed. ‎

Keywords: community of practice, knowledge development, mathematics education research, researcher knowledge

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Authors: Swati Srivastava, Ashish Kumar Upadhyay

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Using longitudinal data from three waves of Young Lives Study and Ordinary Least Square methods, study has investigated the effect of birth order and arrival of younger siblings on child development in India. Study used child’s height for age z-score, weight for age z-score, BMI for age z-score, Peabody Picture Vocabulary Test (PPVT-Score)c, maths score, Early Grade Reading Assessment Test (ERGA) score, and memory score to measure the physical and cognitive development of child during wave-3. Findings suggest that having a high birth order is detrimental for child development and the gap between adjacent siblings is larger for children late in the birth sequences than early in the birth sequences. Study also reported that not only older siblings but arrival of younger siblings before assessment of test also reduces the development of a child. The effects become stronger in case of female children than male children.

Keywords: height for age z-score, weight for age z-score, BMI for z-score, PPVT score, math score, EGRA score, memory score, birth order, siblings, Young Lives Study, India

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Authors: Iman E. Bouthahab, Badea B. Geador

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Aim of this paper is to explore the prospect of a new approach of mobile phone banking in Libya. This study evaluates customer knowledge on commercial mobile banking in Libya. To examine the relationship between age, occupation and intention for using mobile banking for commercial purpose, a survey was conducted to gather information from one hundred Libyan bank clients. The results indicate that Libyan customers have accepted the new technology and they are ready to use it. There is no significant joint relationship between age and occupation found in intention to use mobile banking in Libya. On the other hand, the customers’ knowledge about mobile banking has a greater relationship with the intention. This study has implications for demographic researches and consumer behaviour disciplines. It also has profitable implications for banks and managers in Libya, as it will assist in better understanding of the Libyan consumers and their activities, when they develop their market strategies and new service.

Keywords: mobile banking, intention, customer knowledge, banks in Libya

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Authors: Eman AbuKhousa, Marwan Z. Bataineh

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The 21^st century higher education and globalization challenge new faculty members to build effective professional networks and partnership with industry in order to accelerate their growth and success. This creates the need for community of practice (CoP)-oriented development approaches that focus on cognitive apprenticeship while considering individual predisposition and future career needs. This work adopts data mining, clustering analysis, and social networking technologies to present the CoP-Network as a virtual space that connects together similar career-aspiration individuals who are socially influenced to join and engage in a process for domain-related knowledge and practice acquisitions. The CoP-Network model can be integrated into higher education to extend traditional graduate and professional development programs.

Keywords: clustering analysis, community of practice, data mining, higher education, new faculty challenges, social network, social influence, professional development

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Authors: Andre Kadandji, Mouhamadou Fall, Francois Koum Ekalle

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This paper aims to analyze the sound banking through the effects of the damage of the loan portfolio in the Cameroonian banking sector through the Z-score. The approach is to test the effect of other CAMEL indicators and macroeconomics indicators on the relationship between the non-performing loan and the soundness of Cameroonian banks. We use a dynamic panel data, made by 13 banks for the period 2010-2013. The analysis provides a model equations embedded in panel data. For the estimation, we use the generalized method of moments to understand the effects of macroeconomic and CAMEL type variables on the ability of Cameroonian banks to face a shock. We find that the management quality and macroeconomic variables neutralize the effects of the non-performing loan on the banks soundness.

Keywords: loan portfolio, sound banking, Z-score, dynamic panel

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Authors: Raghav Srivastava, Namrata Ramachandran

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Strong sustainability has been, by consensus, imagined as comprising economic and extra-economic variables and cannot be viewed merely in terms of a trade-off between the economic needs of today and the potential left for tomorrow. Specifically, the cultural as well the ecological impacts of development projects on the affected communities should be evaluated, in addition to the economic. In developing and densely populated economies such as India, energy intensive development is seen as a sine qua non – a necessary trade off with ecological conservation. Although social impact assessment has been included as an inalienable part of the Environmental Impact Assessment required to be conducted under Indian law, it seems that the same is unable to meet the ends it seeks to achieve. The dissociation between those bearing the costs of development, and those reaping its benefits, lies at the heart of this failure. This paper attempts to study the various cost–benefit relationships for these minority stakeholders using the proposed Nyamjang Chhu hydroelectric power plant in Tawang District of Arunachal Pradesh (in North-east India) as the chief object of study, and discusses whether the current model of sustainable development is truly sustainable, given the level of social dissociation and disintegration that occurs between affected communities and their environment. The economic allure of hydroelectric projects in the hilly regions of India very rarely results in a proper assessment of their ecological and social externalities. Examining the various issues that have been agitated in the course of litigation over the Nyamjang Chhu hydroelectric project, the authors argue that there is a pressing need to re-evaluate the current Indian model of sustainable development going forward.

Keywords: hydroelectric power, socio-cultural dissociation, sustainable development, trade offs

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Authors: Mario Spremić, Natalija Kokolek, Božidar Jaković, Jurica Šimurina

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This paper deals with various questions related to functionality and providing banking services in the European union on the Internet. Due to the fact that we live in the information technologies era, the Internet become a new space for doing economic and business activities in all areas, and especially important in banking. Accepting the busy tempo of life, in the past several years electronic banking has become necessity and a must for most users of banking services. On a sample of 300 web sites of the banks operating in European union (EU) we conduct the research on the functionality of e-banking services offered through banks web sites with the key objective to reveal to what extent the information technologies are used in their business operations. Characteristics of EU banks websites will be examined and compared to the basic groups of business activities on the web. Also some recommendations for the successful bank web sites will be provided.

Keywords: electronic banking, electronic business, European union banks, internet

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Authors: Nina V. Zaitseva, Pavel Z. Shur, Nina G. Atiskova

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Nowadays harmonization of sanitary and hygienic standards of environmental quality with international standards is crucial part of integration of Russia into the international community. Harmonization of Russian and international ambient air quality standards may be realized by risk-based standards development. In this paper approaches to risk-based standards development and examples of these approaches implementation are presented.

Keywords: harmonization, health risk assessment, evolutionary modelling, benchmark level, nickel, manganese

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Authors: Sultan S. Alsajjan

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Understanding the public governance in Middle East's countries is one of the challenging matters for any researcher. The Middle East, for the last century, has been in fluctuated situations. Understating the public governance in Saudi Arabia is an extra challenge because Saudi Arabia has its unique culture and political system. The World Bank had launched 1996 Worldwide Governance Indicators. These indicators assist any country to rank its position in public governance how it is performing in this field. Saudi Arabia had ranked in some worldwide governance indicators at the bottom of indicators' list. For instance, according to the Worldwide Governance indicator (2018), Saudi Arabia had ranked in 192 out of 204 countries in 'Voice and Accountability Indicator'. In this paper, the reader will find in-depth analysis and evaluation of Saudi Arabia's positions in Worldwide Governance Indicators. Saudi Arabia had never considered the concept of public governance and worldwide governance indicators because of its economic situation, political characteristics, and social nature.

Keywords: pubic governance, Middle East, Saudi Arabia, and worldwide governance indicators

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Authors: Akor Omachile Opaluwah

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Entrepreneurs are heralded as a very vital force in the growth of economies. This is because they create businesses, employ people, have direct access to the local consumer, and primarily utilize local sources of raw materials, have an understanding of the immediate need of consumers, and they have the capacity to keep in motion the economy. The rise of social enterprises takes these advantages further beyond the business and economic benefits. These Social enterprises help address developmental issues in the society while maintaining a profit for their investors and shareholders. These combined roles create a unique synergy between the civil society and the market, therefore placing the social enterprise in a position where they can access directly, the benefits of the market while meeting the needs of the citizens and their environment. With such a unique position, social enterprises hold a place in the development discourse that has previously been left unexplored. This hybridisation of the functions of civil societies and the market can provide to development, practices, and benefits that have previously been only available in trace amounts. It, therefore, is imperative to understand the efficacy of social enterprises. With the discourse of social enterprises still in its early stages. This paper looks at selected social enterprise cases in Nigeria and analyses their approach and contribution to development.

Keywords: business, civil society, development, entrepreneurs, innovation, market, Nigeria, social enterprise

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Authors: Tatyana Kolmykova, Elvira Sitnikova

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Globalization is one of the key processes that are shaping the modern world. There are different often quite opposite attitudes toward globalization. However, it is impossible to avoid the effects of international integration, and they should be addressed in the process of formation and development of the national industrial sector.

Keywords: integrated structures, industrial sector, globalization, national

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Authors: Lidia Sanchis-Marco, Antonio Rubia

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In this paper we analyze the state-dependent risk-spillover in different economic areas. To this end, we apply the quantile regression-based methodology developed in Adams, Füss and Gropp approach to examine the spillover in conditional tails of daily returns of indices of the banking industry in the US, BRICs, Peripheral EMU, Core EMU, Scandinavia, the UK and Emerging Markets. This methodology allow us to characterize size, direction and strength of financial contagion in a network of bilateral exposures to address cross-border vulnerabilities under different states of the economy. The general evidence shows as the spillover effects are higher and more significant in volatile periods than in tranquil ones. There is evidence of tail spillovers of which much is attributable to a spillover from the US on the rest of the analyzed regions, specially on European countries. In sharp contrast, the US banking system show more financial resilience against foreign shocks.

Keywords: spillover effects, Bank Contagion, SDSVaR, expected shortfall, VaR, expectiles

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