Search results for: price policy

Authors: Ondrej Slach, Jan Machacek, Jan Zenka, Lucie Hyllova, Petr Rumpel

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The aim of the paper is to identify and asses different trajectories of two fashionable urban policies –creative and smart cities– in specific post-socialistic context. Drawing on the case of Czechia, we employ the concept of policy mobility research. More specifically, we employ a discourse analysis in order to identify the so-called 'infrastructure' of both policies (such as principal actors, journals, conferences, events), with the special focus on 'agents of transfer' in a multiscale perspective. The preliminary results indicate faster and more aggressive spatial penetration of smart cities policy compared to creative cities policy in Czechia. Further, it seems that existed translation and implementation of smart cities policy into the national and urban context resulted in deliberated fragmented policy of smart cities in Czechia (pure technocratic view), which might be a threat for the future development of social sustainability, especially in cities that are facing increasing social polarisation. Last but not least, due to the fast spatial penetration of the concept and policies of smart cities, it seems that creative cities policy has almost been crowded out of the Czech urban agenda.

Keywords: policy mobility, smart cities, creative cities, Czechia

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Authors: Layla Albdr

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Saudi Arabia instituted the policy of Sensitizing and Training Stakeholders for E-learning and witnessed wide adoption in many institutions. However, it is at the infancy stage and needs time to develop to mirror the US and UK. The majority of the higher education institutions in Saudi Arabia have adopted E-learning as an alternative to traditional methods to advance education. Conversely, effective implementation of the policy of sensitization and training of stakeholders for E-learning implementation has not been attained because of various challenges. The objectives included determining the challenges and opportunities of the E-learning policy of sensitization and training of stakeholders in Saudi Arabia's higher education and examining if sensitization and training of stakeholder's policy will help promote the implementation of E-learning in institutions. The study employed a descriptive research design based on qualitative analysis. The researcher recruited 295 students and 60 academic staff from four Saudi Arabian universities to participate in the study. An online questionnaire was used to collect the data. The data was then analyzed and reported both quantitatively and qualitatively. The analysis provided an in-depth understanding of the opportunities and challenges of E-learning policy in Saudi Arabian universities. The main challenges identified as internal challenges were the lack of educators’ interest in adopting the policy, and external challenges entailed lack of ICT infrastructure and Internet connectivity. The study recommends encouraging, sensitizing, and training all stakeholders to address these challenges and adopt the policy.

Keywords: e-learning, educational policy, Saudi Arabia, policy of sensitization and training

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Authors: Sungzoon Cho, Hye Jin Lee, Sungwhan Jeon, Dongyoung Min, Sungwon Lyu

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Major public corporations worldwide use conference calls to report their quarterly earnings. These 'earnings' conference calls allow for questions from stock analysts. We investigated if it is possible to identify sentiment from the call script and use it to predict stock price movement. We analyzed call scripts from six companies, two each from Korea, China and Indonesia during six years 2011Q1 – 2017Q2. Random forest with Frequency-based sentiment scores using Loughran MacDonald Dictionary did better than control model with only financial indicators. When the stock prices went up 20 days from earnings release, our model predicted correctly 77% of time. When the model predicted 'up,' actual stock prices went up 65% of time. This preliminary result encourages us to investigate advanced sentiment scoring methodologies such as topic modeling, auto-encoder, and word2vec variants.

Keywords: earnings call script, random forest, sentiment analysis, stock price prediction

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Authors: Tai-Yue Wang, Yi-Ho Chen

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In this study, we investigate a two-echelon supply chain with two suppliers and three retailers among which one retailer dominates other retailers. A price competition demand function is used to model this dominant retailer, which is leading market. The promotion strategies and negotiation schemes are integrated to form decision-making models under different scenarios. These models are then formulated into different mathematical programming models. The decision variables such as promotional costs, retailer prices, wholesale price, and order quantity are included in these models. At last, the distributions of promotion costs under different cost allocation strategies are discussed. Finally, an empirical example used to validate our models. The results from this empirical example show that the profit model will create the largest profit for the supply chain but with different profit-sharing results. At the same time, the more risk a member can take, the more profits are distributed to that member in the utility model.

Keywords: supply chain, price promotion, mathematical models, dominant retailer

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Authors: Victor Oyewumi Ogunbiyi

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Food waste is a global sustainability issue that demands that multiple stakeholders participate in solving it. This article examines how different food system stakeholders are held responsible in the policy debate related to food waste reduction. The study adopts a qualitative approach, paying attention to the views of both public and private policymakers and constructing their views relating to opportunities and policy initiatives towards waste reduction. The data consists of a list of opportunities and food policy initiatives in the development process in Nigeria. The authors identify three emerging opportunities: sectoral growth, technological demands in food service, and sustainable collaborative behaviour. The findings also revealed key policy initiatives for development: law and regulations, multi-stakeholder collaboration, economic incentives, research, and new knowledge. The study extends the marketing literature on food sustainability by investigating several stakeholders’ roles beyond the practical management of the food services sector. Additionally, considering policy initiative development for food waste mitigation sheds light on how stakeholders’ policy initiatives can sustain the food service sector. Finally, the authors outline policy implications.

Keywords: multistakeholder engagement, food services, food waste, policy initiatives, Nigeria

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Authors: Adrian W. Chew

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This paper argues that education policy analysis tends to be steered towards empiricist oriented approaches, which place emphasis on objective and measurable data. However, this paper argues that empiricist oriented approaches are generally based on inductive and/or deductive reasoning, which are unable to generate new ideas/knowledge. This paper will outline the logical structure of induction, deduction, and abduction, and argues that only abduction provides possibilities for the creation of new ideas/knowledge. This paper proposes the neologism of ‘informed guessing’ as a reformulation of abduction, and also as an approach to education policy analysis. On one side, the signifier ‘informed’ encapsulates the idea that abductive policy analysis needs to be informed by descriptive conceptualization theory to be able to make relations and connections between, and within, observed phenomenon and unobservable general structures. On the other side, the signifier ‘guessing’ captures the cyclical and unsystematic process of abduction. This paper will end with a brief example of utilising ‘informed guessing’ for a policy analysis of school choice lotteries in the United States.

Keywords: abductive reasoning, empiricism, informed guessing, policy analysis

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Authors: Pierluigi Gallo, Francesco Randazzo, Ignazio Gallo

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In recent years, many new and interesting models of successful online business have been developed. Many of these are based on the competition between users, such as online auctions, where the product price is not fixed and tends to rise. Other models, including group-buying, are based on cooperation between users, characterized by a dynamic price of the product that tends to go down. There is not yet a business model in which both sellers and buyers are grouped in order to negotiate on a specific product or service. The present study investigates a new extension of the group-buying model, called fair, which allows aggregation of demand and supply for price optimization, in a cooperative manner. Additionally, our system also aggregates products and destinations for shipping optimization. We introduced the following new relevant input parameters in order to implement a double-side aggregation: (a) price-quantity curves provided by the seller; (b) waiting time, that is, the longer buyers wait, the greater discount they get; (c) payment time, which determines if the buyer pays before, during or after receiving the product; (d) the distance between the place where products are available and the place of shipment, provided in advance by the buyer or dynamically suggested by the system. To analyze the proposed model we implemented a system prototype and a simulator that allows studying effects of changing some input parameters. We analyzed the dynamic price model in fairs having one single seller and a combination of selected sellers. The results are very encouraging and motivate further investigation on this topic.

Keywords: auction, aggregation, fair, group buying, social buying

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Authors: Himayatullah Khan

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This study estimates supply response function of sugarcane in Pakistan from 1980-81 to 2012-13. The study uses co-integration approach and error correction mechanism. Sugarcane production, area and price series were tested for unit root using Augmented Dickey Fuller (ADF). The study found that these series were stationary at their first differenced level. Using the Augmented Engle-Granger test and Cointegrating Regression Durbin-Watson (CRDW) test, the study found that “production and price” and “area and price” were co-integrated suggesting that the two sets of time series had long-run or equilibrium relationship. The results of the error correction models for the two sets of series showed that there was disequilibrium in the short run there may be disequilibrium. The Engle-Granger residual may be thought of as the equilibrium error which can be used to tie the short-run behavior of the dependent variable to its long-run value. The Granger-Causality test results showed that log of price granger caused both the long of production and log of area whereas, the log of production and log of area Granger caused each other.

Keywords: co-integration, error correction mechanism, Granger-causality, sugarcane, supply response

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Authors: Blen Telayneh Melese

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Rural development, the unending quest of a developing country, cannot be succeeded in deprived of human capital development. Human capital, the economic pillars of a country's development, appeals a policy-based supports while fulfilling what is expected. Ethiopia, one of the rural countries with untouched and forgotten land and human force, owes historical experiences of educational policy intending for mobilization of its citizen for the advancement of the overall economy. Rural Ethiopia as well has been the focus of those educational policies, considering the economic resources entrenched with in. In this literature review paper, Ethiopian educational policy and its contribution to human capital development, as well as its role in generating quality human labor force, is assessed concisely. The author argues that the foundation of rural development such as technology, knowledge, infrastructure, market chain, communication and etc., can only be achieved through enhanced education policy that conciliates the existing reality of rural communities. Ethiopia still needs an education policy that enables it to generate a human capital that is oriented with the rural areas economic opportunities and challenges.

Keywords: Ethiopia, rural development, human capital development, education policy

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Authors: Cristian Pauna

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Trading the financial markets is a widespread activity today. A large number of investors, companies, public of private funds are buying and selling every day in order to make profit. Algorithmic trading is the prevalent method to make the trade decisions after the electronic trading release. The orders are sent almost instantly by computers using mathematical models. This paper will present a price prediction methodology based on a multi-dimensional neural network. Using the Fisher transform, the neural network will be instructed for a low-latency auto-adaptive process in order to predict the price evolution for the next period of time. The model is designed especially for algorithmic trading and uses the real-time price series. It was found that the characteristics of the Fisher function applied at the nodes scale level can generate reliable trading signals using the neural network methodology. After real time tests it was found that this method can be applied in any timeframe to trade the financial markets. The paper will also include the steps to implement the presented methodology into an automated trading system. Real trading results will be displayed and analyzed in order to qualify the model. As conclusion, the compared results will reveal that the neural network methodology applied together with the Fisher transform at the nodes level can generate a good price prediction and can build reliable trading signals for algorithmic trading.

Keywords: algorithmic trading, automated trading systems, financial markets, high-frequency trading, neural network

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Authors: Edson Vengesai

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Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.

Keywords: derivatives use, hedging, volatility, stock price exposure

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Authors: Zhaojun Wang, Zongdi Sun, Yongjie Chen, Manman Chen, Linghui Wang

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This paper uses the analytic hierarchy process to study the execution effect of the minimum purchase price of grain in different regions and various grain crops. Firstly, for different regions, five indicators including grain yield, grain sown area, gross agricultural production, grain consumption price index, and disposable income of rural residents were selected to construct an evaluation index system. We collect data of six provinces including Hebei Province, Heilongjiang Province and Shandong Province from 2006 to 2017. Then, the judgment matrix is constructed, and the hierarchical single ordering and consistency test are carried out to determine the scoring standard for the minimum purchase price of grain. The ranking of the execution effect from high to low is: Heilongjiang Province, Shandong Province, Hebei Province, Guizhou Province, Shaanxi Province, and Guangdong Province. Secondly, taking Shandong Province as an example, we collect the relevant data of sown area and yield of cereals, beans, potatoes and other crops from 2006 to 2017. The weight of area and yield index is determined by expert scoring method. And the average sown area and yield of cereals, beans and potatoes in 2006-2017 were calculated, respectively. On this basis, according to the sum of products of weights and mean values, the execution effects of different grain crops are determined. It turns out that among the cereals, the minimum purchase price had the best execution effect on paddy, followed by wheat and finally maize. Moreover, among major categories of crops, cereals perform best, followed by beans and finally potatoes. Lastly, countermeasures are proposed for different regions, various categories of crops, and different crops of the same category.

Keywords: analytic hierarchy process, grain yield, grain sown area, minimum grain purchase price

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Authors: Umang Prajapati

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Elected prime minister of India Narendra Modi has very largely focused on improving ties with the neighbors since day one of his regime. This was the most significant initiative to focus on major Asian powers also emphasizing on the two decades old look east policy. The “neighborhood first policy” as termed by the media has been a corner stone in improving ties with the immediate neighbors of the country through several bilateral talks with the nations individually. However, the announcement of demonetisation policy in India, ceasing the usage of 500 and 1000 rupee notes has rattled countries like Nepal, Bangladesh, Bhutan, Sri Lanka and Myanmar who encourage Indian currency parallel to theirs. According to the ministry of commerce and industry (MCI), India’s total trade with neighboring countries stood at US$21.6 in the fiscal year 2015-16, India has good surplus trade surplus with its neighbors and has a strong interest in ensuring smooth trade flows. India might have this benefit, but yet this policy can create issues between India and neighboring countries. The demonetisation policy might benefit in the long run, but in the short run, this might create border issues. While there would be more countries affected by this policy, this paper will emphasize on the problems faced by the countries and the impact of demonetisation on all other neighboring countries.

Keywords: bilateral trades, demonetization, neighborhood policy, value of rupee

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Authors: Jeonghwan Jeon

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As the science and technology (S&T) has been rapidly advanced, the national government attempts to reflect changes in the S&T for promoting public R&D activities and economic development. Amongst others, due to the rapid advances and changes of S&T, it becomes important to analyze the trends of S&T policies for formulating the new policy and investigating promising S&T fields. Thus, this paper aims to trace the national S&T policies during this decade for analyzing the change of major S&T fields in the case of South Korea. As one of the organization for S&T policy in South Korea, the National Science and Technology Council (NSTC) has been established to coordinate inter-ministerial policies and programs and to determine all of the national and public S&T policy of South Korea. In this regard, the items on national S&T policy determined by the NSTC are useful for understanding the needs for major S&T fields and adapting to the rapid change of S&T. To this end, we first gathered the data on 512 items on the S&T agenda from 1999 to 2013. Based on these items, the trend of S&T policies is monitored and the major S&T fields are derived. Differences of policy purposes between S&T fields are identified to provide guideline for policy making such as budget allocation or investment promotion as well.

Keywords: national science and technology, policy, trends, S&T field

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Authors: Francesco Berald, Yunhui Zhao

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The COVID-19 pandemic further extended the multi-year housing boom in advanced economies and emerging markets alike against massive monetary easing during the pandemic. In this paper, we analyze the pricing-out phenomenon in the U.S. residential housing market due to higher house prices associated with monetary easing. We first set up a stylized general equilibrium model and show that although monetary easing decreases the mortgage payment burden, it would raise house prices and lower housing affordability for first-time homebuyers (through the initial housing wealth channel and the liquidity constraint channel that increases repeat buyers’ housing demand), and increase housing wealth inequality between first-time and repeat homebuyers. We then use the U.S. household-level data to quantify the effect of the house price change on housing affordability relative to that of the interest rate change. We find evidence of the pricing-out effect for all homebuyers; moreover, we find that the pricing-out effect is stronger for first-time homebuyers than for repeat homebuyers. The paper highlights the importance of accounting for general equilibrium effects and distributional implications of monetary policy while assessing housing affordability. It also calls for complementing monetary easing with well-targeted policy measures that can boost housing affordability, particularly for first-time and lower-income households. Such measures are also needed during aggressive monetary tightening, given that the fall in house prices may be insufficient or too slow to fully offset the immediate adverse impact of higher rates on housing affordability.

Keywords: pricing-out, U.S. housing market, housing affordability, distributional effects, monetary policy

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Authors: Jeonghwan Jeon

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As the science and technology(S&T) has been rapidly advanced, the national government attempts to reflect changes in the S&T for promoting public R&D activities and economic development. Amongst others, due to the rapid advances and changes of S&T, it becomes important to monitor the trends of S&T policies for formulating the new policy and investigating promising S&T fields. Thus, this paper aims to trace the national S&T policies during this decade for monitoring the change of major S&T fields in the case of South Korea. As one of the organization for S&T policy in South Korea, the National Science and Technology Council (NSTC) has been established to coordinate inter-ministerial policies and programs and to determine all of the national and public S&T policy of South Korea. In this regard, the items on national S&T policy determined by the NSTC are useful for understanding the needs for major S&T fields and adapting to the rapid change of S&T. To this end, we first gathered the data on 512 items on the S&T agenda from 1999 to 2013. Based on these items, the trend of S&T policies is monitored and the major S&T fields are derived. Differences of policy purposes between S&T fields are identified to provide guideline for policy making such as budget allocation or investment promotion as well.

Keywords: science and technology policy, trends, S&T field, monitoring

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Authors: Robert Gilliland

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In any organization, a potential issue can arise and become a problem when management deviates from the standard norms set in the system development process of an IT system and the policies that pertain to it. In these instances, cybersecurity is a big challenge that organizations have to face in safeguarding the data that they generate and use. When a new idea, task, or process begins, specific standards must be followed, along with the policies and procedures that ensure the safeguard of data in the information system within the company. A good IT Strategy and Policy should have individuals who are in charge of overseeing the design, development, implementation, and auditing of these policies. Auditors are people who check to make sure that the issue conforms with the plan that is in place. Management has the ability through the role of the manager to potentially abuse power is given and to direct specific ideas, events, projects, and outcomes that are contrary to the vision or goals of the company.

Keywords: strategic policy, policy management, new policy, strategic planning

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Authors: Mahmoud Hassan

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Understanding the impact of market- and non-market-based environmental policy instruments on renewable energy consumption (REC) is crucial for the design and choice of policy packages. This study aims to empirically investigate the effect of environmental policy stringency index (EPS) and its components on REC in 27 OECD countries over the period from 1990 to 2015, and then use the results to identify what the appropriate environmental policy mix should look like. By relying on the two-step system GMM estimator, we provide evidence that increasing environmental policy stringency as a whole promotes renewable energy consumption in these 27 developed economies. Moreover, policymakers are able, through the market- and non-market-based environmental policy instruments, to increase the use of renewable energy. However, not all of these instruments are effective for achieving this goal. The results indicate that R&D subsidies and trading schemes have a positive and significant impact on REC, while taxes, feed-in tariff and emission standards have not a significant effect. Furthermore, R&D subsidies are more effective than trading schemes for stimulating the use of clean energy. These findings proved to be robust across the three alternative panel techniques used.

Keywords: environmental policy stringency, renewable energy consumption, two-step system-GMM estimation, linear dynamic panel data model

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Authors: Aliyu Aminu Baba

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Ethnic entrepreneurship is defined as a set of connections and regular patterns of interaction among people sharing common national background or migration experience. The disadvantage faced by ethnic minority on paid labour induced them to become self-employed. Also, enclaves motivates trading, creativity, innovation are all to provide specific service or products to certain people. These ethnic minorities are African –Caribbean, Indians, Pakistanis, Banghaladashi and Chinese. For policy development ethnic diversity was among the problem of developing policy in United Kingdom. The study finds that there is a danger in treating all ethnic minority businesses as homogeneous rather than heterogeneous. The diversity is due to religious beliefs, culture and race. This indicates that there is a wide range have shortfall in addressing the peculiarities of ethnic minority businesses in policy formulation. Also, there are differences between ethnic minorities in accessing finance. It is recommended that diversity and peculiarities between ethnic minorities should be considered in policy formulation.

Keywords: ethnic entrepreneurship, finance, policy implication, diversity

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Authors: Babatunde Osabiya

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Cybersecurity has emerged as a pressing policy problem in recent years, affecting individuals, businesses, and governments worldwide. This research paper aims to critically review the literature on cybersecurity policy and apply policy theory to propose a policy approach that balances the freedom to access and use technology with the human rights risks and threats posed by cyber. Drawing on various credible sources, the paper examines the scale and seriousness of cyber threats, highlighting the growing threat posed by cybercriminals, hackers, and nation-states. The paper also identifies the key challenges facing policymakers, including the need for more significant investment in cybersecurity research and development and the importance of balancing the benefits of technological innovation with the risks to privacy, security, and human rights. To address these challenges, the paper proposes a policy approach emphasizing investing in cybersecurity research and development to maintain a technological edge over potential adversaries. This approach also highlights the need for greater collaboration between government, industry, and civil society to develop effective cybersecurity policies and practices that protect the rights and freedoms of people while mitigating the risks posed by cyber threats. This paper will contribute to the growing body of literature on cybersecurity policy and offers a policy framework for addressing this critical policy challenge.

Keywords: security risk, legal framework, cyber security and policy, national security

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Authors: Markéta Slováková

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The largest share of policy and money within the European Union goes to agriculture. The Union’s Common Agricultural Policy has undergone several transformations in the last five decades, with the main change taking place in the 1990's. This change influenced agriculture in the Czech Republic, inasmuch as the fledgling republic was preparing to join the European Union and adopt its policies. In the 1990s, Czech agriculture passed from a centrally planned economy to a market economy and subsequently adopted the terms of the Common Agricultural Policy. The Czech Republic is also characterized by a significant landscape sphere diversification. Agricultural entrepreneurs in the Czech Republic are still not used the possibility of grants from the European Union. They focus rather on national or regional subsidy titles. Only half of all agricultural entrepreneurs in the Czech Republic use European subsidies. This article focuses on the introduction of the Common Agricultural Policy to the Czech Republic and its subsequent influence on Czech agriculture. It is demonstrated on the implementation rate of the CAP in the EU Member States and the closer focus is on the Czech integration.

Keywords: common agricultural policy, agriculture, European Union, transformation

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Authors: Montserrat Guillen, Stephania Mosquera-Lopez, Jorge Uribe

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An empirical study of market risk transmission between electricity prices in the Nord Pool interconnected market is done. Crucially, it is differentiated between risk propagation in the two tails of the price variation distribution. Thus, the downside risk from upside risk spillovers is distinguished. The results found document an asymmetric nature of risk and risk propagation in the two tails of the electricity price log variations. Risk spillovers following price increments in the market are transmitted to a larger extent than those after price reductions. Also, asymmetries related to both, the size of the transaction area and related to whether a given area behaves as a net-exporter or net-importer of electricity, are documented. For instance, on the one hand, the bigger the area of the transaction, the smaller the size of the volatility shocks that it receives. On the other hand, exporters of electricity, alongside countries with a significant dependence on renewable sources, tend to be net-transmitters of volatility to the rest of the system. Additionally, insights on the predictive power of positive and negative semivariances for future market volatility are provided. It is shown that depending on the forecasting horizon, downside and upside shocks to the market are featured by a distinctive persistence, and that upside volatility impacts more on net-importers of electricity, while the opposite holds for net-exporters.

Keywords: electricity prices, realized volatility, semivariances, volatility spillovers

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Authors: Lillie Lum

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Focusing on the role of official language in immigrant integration, this paper will first report the results of a literature review and demonstrate that there is no doubt on the necessity of adequate language skills for newcomers to successfully settle, adapt, and integrate socially, culturally and economically in Canada. This paper attempts to synthesize the literature in order to shed light on the language policy terrain which is not easy to navigate. Then, by outlining what is currently available in the language policy environment, it will ask if the current state of language training in Canada is adequate to assist newcomers in their language acquisition process. At a deeper level, it aims to continue to raise questions in this policy area. Are current policy responses likely to improve linguistic capabilities in the future, particularly for immigrant workers with poor language proficiency? This paper is timely given the magnitude of the language issue and the value of immigrants for Canada’s economic, social, and political vitality.

Keywords: official language education, immigrant integration into Canada, economic factors, policy implications

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Authors: Narimen Rdhaounia Mohamed Kouni

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Our aim in this paper is to identify the origins of inflation in Tunisia on the period from 1988 to 2018. In order to estimate the model, an ARDL methodology is used. We studied also the effect of informal economy on inflation. Indeed, we estimated the size of the informal economy in Tunisia based on Gutmann method. The results showed that there are three main origins of inflation. In fact, the first origin is the fiscal policy adopted by Tunisia, particularly after revolution. The second origin is the increase of monetary variables. Finally, informal economy played an important role in inflation.

Keywords: inflation, consumer price index, informal, gutmann method, ARDL model

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Authors: Lubna Naz, Munir Ahmad, G. M. Arif

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This study analyzes static and dynamic welfare impacts of food price changes for various landholding groups in Pakistan. The study uses three classifications of land ownership, landless, small landowners and large landowners, for analysis. The study uses Panel Survey, Pakistan Rural Household Survey (PRHS) of Pakistan Institute of Development Economics Islamabad, of rural households from two largest provinces (Sindh and Punjab) of Pakistan. The study uses all three waves (2001, 2004 and 2010) of PRHS. This research work makes three important contributions in literature. First, this study uses Quadratic Almost Ideal Demand System (QUAIDS) to estimate demand functions for eight food groups-cereals, meat, milk and milk products, vegetables, cooking oil, pulses and other food. The study estimates food demand functions with Nonlinear Seemingly Unrelated (NLSUR), and employs Lagrange Multiplier and test on the coefficient of squared expenditure term to determine inclusion of squared expenditure term. Test results support the inclusion of squared expenditure term in the food demand model for each of landholding groups (landless, small landowners and large landowners). This study tests for endogeneity and uses control function for its correction. The problem of observed zero expenditure is dealt with a two-step procedure. Second, it creates low price and high price periods, based on literature review. It uses elasticity coefficients from QUAIDS to analyze static and dynamic welfare effects (first and second order Tylor approximation of expenditure function is used) of food price changes across periods. The study estimates compensation variation (CV), money metric loss from food price changes, for landless, small and large landowners. Third, this study compares the findings on welfare implications of food price changes based on QUAIDS with the earlier research in Pakistan, which used other specification of the demand system. The findings indicate that dynamic welfare impacts of food price changes are lower as compared to static welfare impacts for all landholding groups. The static and dynamic welfare impacts of food price changes are highest for landless. The study suggests that government should extend social security nets to landless poor and categorically to vulnerable landless (without livestock) to redress the short-term impact of food price increase. In addition, the government should stabilize food prices and particularly cereal prices in the long- run.

Keywords: QUAIDS, Lagrange multiplier, NLSUR, and Tylor approximation

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Authors: Abdelkader Guendouz, Fatima Zohra Adel

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Since about two decades, the Algerian government created a new instrument in the field of its fiscal policy, which is the FRR (Fonds de Régulation des Recettes). The FRR is a sovereign fund, which the initial role was saving the surplus generated by the fixation of a referential oil price to establish the state budget in the aim equilibrium between budgetary incomes and public expenditures. After a while, the government turns to use this instrument in boosting the public investment more than keeping for funding a deficit budget in periods of crisis. This lead to ask some justified questions about the efficiency of this sovereign fund and its real role.

Keywords: FRR sovereign fund, public expenditures, public investment, efficiency

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Authors: Si Chen, Le Zhang, Xian He

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The research explored the influences of public open space system on housing price through hedonic models, in order to support better open space plans and economic policies. We have three initial hypotheses: 1) public open space system has an overall positive influence on surrounding housing prices. 2) Different public open space types have different levels of influence on motivating surrounding housing prices. 3) Walking and driving accessibilities from property to public open spaces have different statistical relation with housing prices. Cook County, Illinois, was chosen to be a study area since data availability, sufficient open space types, and long-term open space preservation strategies. We considered the housing attributes, driving and walking accessibility scores from houses to nearby public open spaces, and driving accessibility scores to hospitals as influential features and used real housing sales price in 2010 as a dependent variable in the built hedonic model. Through ordinary least squares (OLS) regression analysis, General Moran’s I analysis and geographically weighted regression analysis, we observed the statistical relations between public open spaces and housing sale prices in the three built hedonic models and confirmed all three hypotheses.

Keywords: hedonic model, public open space, housing sale price, regression analysis, accessibility score

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Authors: Widhi Hanantyo Suryadinata

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Efforts undertaken by Indonesia and China to shift the strategies and security of renewable energy on a global stage involve approaches through policy construction related to rare minerals processing or value-adding in Indonesia and manufacturing policies through the New Energy Vehicles (NEVs) policy in China. Both policies encompass several practical regulations and policies that can be utilized for the implementation of Indonesia and China's grand efforts and ideas. Policy development in Indonesia and China can be analyzed using a comparative analysis method, as well as employing a pyramid illustration to identify policy construction phases based on the real conditions of the domestic market and implemented policies. This approach also helps to identify the potential integration of policies needed to enhance the policy development phase of a country within the pyramid. It also emphasizes the significance of integration policy to redefine renewable energy strategy and security on the global stage.

Keywords: global renewable energy security, global energy security, policy development, comparative analysis, shifting of global energy security, Indonesia, China

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Authors: Philipp Galkin

Abstract:

Government policy is a critical factor in the understanding of energy markets. Regardless, it is rarely approached systematically from a research perspective. Gaining a precise understanding of what policies exist, their intended outcomes, geographical extent, duration, evolution, etc. would enable the research community to answer a variety of questions that, for now, are either oversimplified or ignored. Policy, on its surface, also seems a rather unstructured and qualitative undertaking. There may be quantitative components, but incorporating the concept of policy analysis into quantitative analysis remains a challenge. The KAPSARC Energy Policy Database (KEPD) is intended to address these two energy policy research limitations. Our approach is to represent policies within a quantitative library of the specific policy measures contained within a set of legal documents. Each of these measures is recorded into the database as a single entry characterized by a set of qualitative and quantitative attributes. Initially, we have focused on the major laws at the national level that regulate coal in China. However, KAPSARC is engaged in various efforts to apply this methodology to other energy policy domains. To ensure scalability and sustainability of our project, we are exploring semantic processing using automated computer algorithms. Automated coding can provide a more convenient input data for human coders and serve as a quality control option. Our initial findings suggest that the methodology utilized in KEPD could be applied to any set of energy policies. It also provides a convenient tool to facilitate understanding in the energy policy realm enabling the researcher to quickly identify, summarize, and digest policy documents and specific policy measures. The KEPD captures a wide range of information about each individual policy contained within a single policy document. This enables a variety of analyses, such as structural comparison of policy documents, tracing policy evolution, stakeholder analysis, and exploring interdependencies of policies and their attributes with exogenous datasets using statistical tools. The usability and broad range of research implications suggest a need for the continued expansion of the KEPD to encompass a larger scope of policy documents across geographies and energy sectors.

Keywords: China, energy policy, policy analysis, policy database

Procedia PDF Downloads 301

Authors: Marlin Killen

Abstract:

The American Association of University Professors (AAUP) describes academic freedom as essential to the purposes of research and teaching. The importance of academic freedom as a bedrock foundation that supports the work of the professoriate cannot be overstated, and there have been innumerable challenges that have attempted to curtail it. These challenges come from a variety of sources that span legal, ethical, cultural, institutional, and professional perspective and are amplified by social media, traditional media, and political action efforts. Because of these challenges, the development of a comprehensive institutional policy on academic freedom that addresses the principles, practices, and appropriate responses to modern challenges can be a daunting task. This presentation will focus on a case study of a university’s effort to develop an updated, evolving policy on academic freedom that provides a framework and remedies for contemporary challenges to this critical function in higher education.

Keywords: academic freedom, academic freedom policy, higher education policy

Procedia PDF Downloads 170