Search results for: electricity market reform

Authors: Nadia Sghaier

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In this paper, we examine the influence of the COVID-19 pandemic on the performance of the Tunisian stock market and 12 sectors over a recent period from 23 March 2020 to 18 August 2021, including several waves and the introduction of vaccination. The empirical study is conducted using cointegration techniques which allows for long and short-run relationships. The obtained results indicate that both daily growth in confirmed cases and deaths have a negative and significant effect on the stock market returns. In particular, this effect differs across sectors. It seems more pronounced in financial, consumer goods and industrials sectors. These findings have important implications for investors to predict the behavior of the stock market or sectors returns and to implement hedging strategies during the COVID-19 pandemic.

Keywords: Tunisian stock market, sectors, COVID-19 pandemic, cointegration techniques

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Authors: Saud Al Mahdi

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Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies.

Keywords: beta, alpha, active portfolio management, trading strategies

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Authors: Saeidreza Radpour, Md. Ahiduzzaman, Amit Kumar

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Alberta’s mining sector consumed 871.3 PJ in 2012, which is 67.1% of the energy consumed in the industry sector and about 40% of all the energy consumed in the province of Alberta. Natural gas, petroleum products, and electricity supplied 55.9%, 20.8%, and 7.7%, respectively, of the total energy use in this sector. Oil sands mining and upgrading to crude oil make up most of the mining energy sector activities in Alberta. Crude oil is produced from the oil sands either by in situ methods or by the mining and extraction of bitumen from oil sands ore. In this research, the factors affecting oil sands production have been assessed and a framework has been developed for market penetration of new efficient technologies in this sector. Oil sands production amount is a complex function of many different factors, broadly categorized into technical, economic, political, and global clusters. The results of developed and implemented statistical analysis in this research show that the importance of key factors affecting on oil sands production in Alberta is ranked as: Global energy consumption (94% consistency), Global crude oil price (86% consistency), and Crude oil export (80% consistency). A framework for modeling oil sands energy technologies’ market penetration (OSETMP) has been developed to cover related technical, economic and environmental factors in this sector. It has been assumed that the impact of political and social constraints is reflected in the model by changes of global oil price or crude oil price in Canada. The market share of novel in situ mining technologies with low energy and water use are assessed and calculated in the market penetration framework include: 1) Partial upgrading, 2) Liquid addition to steam to enhance recovery (LASER), 3) Solvent-assisted process (SAP), also called solvent-cyclic steam-assisted gravity drainage (SC-SAGD), 4) Cyclic solvent, 5) Heated solvent, 6) Wedge well, 7) Enhanced modified steam and Gas push (emsagp), 8) Electro-thermal dynamic stripping process (ET-DSP), 9) Harris electro-magnetic heating applications (EMHA), 10) Paraffin froth separation. The results of the study will show the penetration profile of these technologies over a long term planning horizon.

Keywords: appliances efficiency improvement, diffusion models, market penetration, residential sector

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Authors: Isabel L. Guidote

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Continued advancements and innovation in the technological arena may yield both beneficial and detrimental effects to market competition in the Philippines. This paper discusses recent developments in the digital sphere which have resulted in improved access to the Philippine market for both producers and consumers. Acknowledging that these developments are likely to disrupt or alter prevailing market conditions, this paper likewise tackles competition theories of harm that may arise as a result of such technological innovations, with reference to cases decided by foreign competition authorities and the European Commission. As the Philippine moves closer to the digital frontier, it is imperative that producers, consumers, and regulators alike be well-equipped to address the risks and challenges posed by these rapid advancements in technology.

Keywords: antitrust, competition law, market competition, technology

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Authors: E. Kharaishvili, M. Chavleishvili, M. Natsvaladze

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The article presents the trends in Georgian wine market development and evaluates the competitive advantages of Georgia to enter the wine market based on its customs, traditions and historical practices combined with modern technologies. In order to analyze the supply of wine, dynamics of vineyard land area and grape varieties are discussed, trends in wine production are presented, trends in export and import are evaluated, local wine market, its micro and macro environments are studied and analyzed based on the interviews with experts and analysis of initial recording materials. For strengthening its position on the international market, the level of competitiveness of Georgian wine is defined, which is evaluated by “ex-ante” and “ex-post” methods, as well as by four basic and two additional factors of the Porter’s diamond method; potential advantages and disadvantages of Georgian wine are revealed. Conclusions are made by identifying the factors that hinder the development of Georgian wine market. Based on the conclusions, relevant recommendations are developed.

Keywords: Georgian wine market, competitive advantage, bio wine, export-import, Porter's diamond model

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Authors: Hailu Getnet

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This study focus on reverse innovation on performance outcomes across developed and subsistence markets context. The subsistence market consists two third of the world population and the largest international market. To date, it has been neglected because of its issues of perceived challenges and seeming unattractiveness compared to the established markets in the west. However, subsistence markets are becoming source of reverse innovation; an innovation that is likely to be adopted first in developing world and successfully traded globally. In response, there is a growing interest on reverse innovation to power the future. Based on the theories of innovation and growing subsistence market literatures, the study propose drivers and outcomes of reverse innovation, a potential similarities and difference in benefiting and challenging firms and consumers in subsistence and developed markets.

Keywords: reverse innovation, subsistence market, developing world, developed market

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Authors: Tamar Lazariashvili

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The paper examines the market of bioproducts in the world and in Georgia. The experience of European countries in the field of production of bioproducts is shown, the level of interest of the population in these products is presented, and the tendency of the demand for them to grow is evaluated. Objectives. The purpose of the research is to identify modern challenges and develop recommendations for development opportunities based on the analysis of the European and local market of organic products. Methodologies. General and specific methods are used in the research process: comparative analysis, induction, deduction. A desk study has been conducted. Findings. It has been revealed that the production of organic products in Georgia is significantly behind the European requirements, in the market of organic products of Georgia there is a formation of a layer of consumers who are in favor of healthy food and are ready to pay a different price. Conclusions. Based on the analysis of the bioproducts market, appropriate recommendations are proposed, namely, the introduction of innovative technologies; financial and legal support by the state; provision of consulting services on the tax system; Elimination of asymmetric information in the market and others.

Keywords: bioproducts market, European experience, production of bioproducts, layer of consumers.

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Authors: Abhipsa Mohanty, Harit Jha

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The world's energy demands are continuing to rise, resulting in a worldwide energy crisis and environmental pollution. Because of finite, declining supply and environmental damage, reliance on fossil fuels is unsustainable. As a result, experts are concentrating on alternative, renewable, and carbon-free energy sources. Energy sources that are both environmentally and economically sustainable are required. Microbial fuel cells (MFCs) have recently received a lot of attention due to their low operating temperatures and ability to use a variety of biodegradable substrates as fuel. There are single-chamber MFCs as well as traditional MFCs with anode and cathode compartments. Bioelectricity is produced when microorganisms actively catabolize substrate. MFCs can be used as a power source in small devices like biosensors. Understanding of its components, microbiological processes, limiting variables, and construction designs in MFC systems must be simplified, and large-scale systems must be developed for them to be cost-effective as well as increase electricity production. The purpose of this research was to review current microbiology knowledge in the field of electricity. The manufacturing process, the materials, and procedures utilized to construct the technology, as well as the applications of MFC technology, are all covered.

Keywords: bio-electricity, exoelectrogenic bacteria, microbial fuel cells, soil microorganisms

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Authors: Safa’ Abdelkarim Hammad

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The electrical power system is one of the main parts of the nation's infrastructure, and the availability and cost of electricity are critical factors in industrial competitiveness and strategy. Restructuring of the electricity supply industries is a very complex exercise based on national energy strategies and policies, macroeconomic developments, and national conditions, and its application varies from country to country. Electricity regulation of natural monopolies is a challenging task. Regulators face the problem of providing appropriate incentives for improvement of efficiency. Incentive regulation is often considered as an efficient regulatory tool to handle the problem, and it is widely applied in several countries. However, the exact regulation methodologies differ from one country to another. Network quantitative reliability evaluation is an essential factor with regard to the quality of supply. The main factors used to judge the reliability of supply is measured by the number and duration of interruptions experienced by customers. Several indicators are used to evaluate reliability in distribution networks. This paper addresses the impact of incentive regulation and performance benchmarking in the field of electricity distribution in Jordan. The theory of efficiency measurement and the most common models; NCSQS and DEA models are presented.

Keywords: incentive regulations, reliability, restructuring, Tarrif

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Authors: Cem Isik Dogru, Salih Tekin, Kursad Derinkuyu

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Electric vehicle (EV) carsharing is an alternative method to tackle urban transportation problems. This method can be applied by several options. One of the options is the one-way carsharing, which allow an EV to be taken at a designated location and leaving it on another specified location customer desires. Although it may increase users’ satisfaction, the issues, namely, demand dissatisfaction, relocation of EVs and charging schedules, must be dealt with. Also, excessive electricity has to be stored in batteries of EVs. To cope with aforementioned issues, two-step mixed integer programming (MIP) model is proposed. In first step, the integer programming model is used to determine amount of electricity to be sold to the grid in terms of time periods for extra profit. Determined amounts are provided from the batteries of EVs. Also, this step works in day-ahead electricity markets with forecast of periodical electricity prices. In second step, other MIP model optimizes daily operations of one-way carsharing: charging-discharging schedules, relocation of EVs to serve more demand and renting to maximize the profit of EV fleet owner. Due to complexity of the models, heuristic methods are introduced to attain a feasible solution and different price information scenarios are compared.

Keywords: electric vehicles, forecasting, mixed integer programming, one-way carsharing

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Authors: Enas R. Shouman

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Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

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Authors: Mustafa Engin Başoğlu, Bekir Çakir

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Since large part of electricity generation is provided by using fossil based resources, energy is an important agenda for countries. Depletion of fossil resources, increasing awareness of climate change and global warming concerns are the major reasons for turning to alternative energy resources. Solar, wind and hydropower energy are the main renewable energy sources. Among of them, wind energy is promising for Turkey whose installed power capacity increases approximately eight times between 2008 - seventh month of 2014. Signing of Kyoto Protocol can be accepted as a milestone for Turkey's energy policy. Turkish government has announced 2023 Vision (2023 targets) in 2010-2014 Strategic Plan prepared by Ministry of Energy and Natural Resources (MENR). 2023 Energy targets can be summarized as follows: Share of renewable energy sources in electricity generation is 30% of total electricity generation by 2023. Installed capacity of wind energy will be 20 GW by 2023. Other renewable energy sources such as solar, hydropower and geothermal are encouraged with new incentive mechanisms. Share of nuclear power plants in electricity generation will be 10% of total electricity generation by 2023. Dependence on foreign energy is reduced for sustainability and energy security. As of seventh month of 2014, total installed capacity of wind power plants is 3.42 GW and a lot of wind power plants are under construction with capacity 1.16 GW. Turkish government also encourages the locally manufactured equipments. MILRES is an important project aimed to promote the use of renewable sources in electricity generation. A 500 kW wind turbine will be produced in the first phase of project. Then 2.5 MW wind turbine will be manufactured domestically within this project

Keywords: wind energy, wind speed, 2023 vision, MILRES, wind energy potential in TURKEY

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Authors: Merieleen Engtipi

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India's total share of global population is nearly 18%; however, its per capita energy consumption is only one-third of global average. The demand and supply of electricity are uneven in the country; around 240 million of the population have no access to electricity. However, with India's trajectory for modernisation and economic growth, the demand for energy is only expected to increase. India is at a crossroad, on the one hand facing the increasing demand for energy and on the other hand meeting the Paris climate policy commitments, and further the struggle to provide efficient energy. This paper analyses the policies to meet India’s need for energy, as the per capita energy consumption is likely to be double in 6-7 years period. Simultaneously, India's Paris commitment requires curbing of carbon emission from fossil fuels. There is an increasing need for renewables to be cheaply and efficiently available in the market and for clean technology to extract fossil fuels to meet climate policy goals. Fossil fuels are the most significant generator of energy in India; with the Paris agreement, the demand for clean energy technology is increasing. Finally, the U.S. decided to withdraw from the Paris Agreement; however, the two countries plan to continue engaging bilaterally on energy issues. The U.S. energy cooperation under Trump administration is significantly vital for greater energy security, transfer of technology and efficiency in energy supply and demand.

Keywords: energy demand, energy cooperation, fossil fuels, technology transfer

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Authors: Tarah Bouaricha

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The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used.

Keywords: study event, natural disasters, insurance, reinsurance, stock market

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Authors: Lucky Farha, Martha L. Hall

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The current adaptive clothing brands are limited in numbers and specific categories. This study explores clothing challenges for children with Down syndrome and factors that influence their perception of adaptive clothing brands. Another aim of this study was to explore brands' challenges in the adaptive business and factors that influence their perceptions towards the adaptive market. In order to determine the market barriers affecting adaptive target market needs, the researcher applied Technology Acceptance Model. After interviewing and surveying parents/caregivers having children with Down syndrome and current adaptive brands, the results found education as the significant gap in the adaptive clothing market yet to be overcome. Based on the finding, several recommendations were suggested to improve the current barriers in the adaptive clothing market.

Keywords: adaptive fashion, disability, functional clothing, clothing needs assessment, down syndrome, clothing challenge

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Authors: Irfan Ullah Munir, Shen Yue, Muhammad Shahzad Ijaz, Saad Hussain, Syeda Yumna Zaidi

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Financial literacy is fundamental to every decision-making process and has received attention from researchers, regulatory bodies and policy makers in the recent past. This study is an attempt to evaluate financial literacy in an emerging economy, particularly Pakistan, and its influence on people's stock market participation. Data of this study was collected through a structured questionnaire from a sample of 300 respondents. EFA is used to check the convergent and discriminant validity. Data is analyzed using Hayes (2013) approach. A set of demographic control variables that have passed the mean difference test is used. We demonstrate that participants with financial literacy tend to invest more in the stock market. We also find that association among financial literacy and participation in stock market gets moderated by gender.

Keywords: Financial literacy, Stock market participation, Gender, PSX

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Authors: Dionne Coley B. A.

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The role of a lawyer as a mediator is to be impartial in assisting parties to arrive at a decision. This decision should be made in a voluntary and mutually acceptable manner where the mediator encourages the parties to communicate, identify their interests, assess risks and consider settlement options. One of the key components to mediation is impartiality where mediators are to have a duty to remain impartial throughout the course of mediation and uphold an “objective” demeanor with both parties. The question is whether a mediator should take on evaluative role while encouraging the parties to come to a decision. This means that the mediator would not only encourage dialogue and responses between the parties but also assess and provide an opinion on the matter. This paper submits the argument that the role of a mediator should not be one of evaluation as this does not encourage the dialogue, process or desired outcomes associated with mediation.

Keywords: evaluation, lawyer, mediation, reform

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Authors: Marina Kapsali, John S. Anagnostopoulos

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On the basis of comparative analysis of alternative “development scenarios” for electricity generation, the main objective of the present study is to investigate the techno-economic viability of high wind energy (WE) use at the local (island) level. An integrated theoretical model is developed based on first principles assuming two main possible scenarios for covering future electrification needs of a medium–sized Greek island, i.e. Lesbos. The first scenario (S1), assumes that the island will keep using oil products as the main source for electricity generation. The second scenario (S2) involves the interconnection of the island with the mainland grid to satisfy part of the electricity demand, while remarkable WE penetration is also achieved. The economic feasibility of the above solutions is investigated in terms of determining their Levelized Cost of Energy (LCOE) for the time-period 2020-2045, including also a sensitivity analysis on the worst/reference/best Cases. According to the results obtained, interconnection of Lesbos Island with the mainland grid (S2) presents considerable economic interest in comparison to autonomous development (S1) with WE having a prominent role to this effect.

Keywords: electricity generation cost, levelized cost of energy, mainland, wind energy surplus

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Authors: Okechukwu B. C. Nwankwo

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The surge of social protests sweeping through the globe is a contemporary phenomenon. Yet the phenomenon in itself is not new. Thus, various scholars have over the years developed conceptual frameworks for evaluating it. Adopting and adapting some of these frameworks this paper begins from a purely theoretical perspective exploring the concept and content of social protest within the specific context of Nigeria. It proceeds to build a typology of the phenomenon in terms of form, actors, origin, character, organisation, goal, dynamics, outcome and a whole lot of other variables that are context relevant for evaluating it in an operationally useful manner. The centrality of the context in which protest evolves is demonstrated. Adopting Easton’s systems theory, the paper builds on the assumption that protests emerge whenever and wherever political institutions and structures prove unable or unwilling to transform inputs in form of basic demands into outputs in form of responsive policies. It argues that protests in Nigeria are simply the crystallisation of opposition in the streets. Protests are thus extra-institutional politics. This is usually the case, as elsewhere, where there is no functional institutionalised opposition. Noting that protest, disruptive or otherwise, is an influence strategy, it argues that every single protest is a new opportunity for reform, for reorganisation of state capacities, for modifying rights and obligation of citizens and government to each other. Each reform outcome is, however, only a temporal antecedent. Its extensity gives signal for the next similar protest event. Through providing evidence on how protests in Nigeria create opportunity for reform, for more accountable, more effective governance, the paper shows the positive impact of protests and its importance even in the consolidation effort for the nation’s nascent democracy. Data on protest events will be based on media reports, especially print media.

Keywords: democracy, dialectics, social protest, reform

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Authors: Ramin Vafadary, Maryam Khanbaghi

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Forecasting electricity load is important for various purposes like planning, operation, and control. Forecasts can save operating and maintenance costs, increase the reliability of power supply and delivery systems, and correct decisions for future development. This paper compares various time series methods to forecast 24 hours ahead of electricity load. The methods considered are the Holt-Winters smoothing, SARIMA Modeling, LSTM Network, Fbprophet, and Tensorflow probability. The performance of each method is evaluated by using the forecasting accuracy criteria, namely, the mean absolute error and root mean square error. The National Renewable Energy Laboratory (NREL) residential energy consumption data is used to train the models. The results of this study show that the SARIMA model is superior to the others for 24 hours ahead forecasts. Furthermore, a Bagging technique is used to make the predictions more robust. The obtained results show that by Bagging multiple time-series forecasts, we can improve the robustness of the models for 24 hours ahead of electricity load forecasting.

Keywords: bagging, Fbprophet, Holt-Winters, LSTM, load forecast, SARIMA, TensorFlow probability, time series

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Authors: Algia Hammami, Abdelfatteh Bouri

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In this work, our objective is to study the transmission of volatility between oil and stock markets in developed (USA, Germany, Italy, France and Japan) and emerging countries (Tunisia, Thailand, Brazil, Argentina, and Jordan) for the period 1998-2015. Our methodology consists of analyzing the monthly data by the GARCH-BEKK model to capture the effect in terms of volatility in the variation of the oil price on the different stock market. The empirical results in the emerging countries indicate that the relationships are unidirectional from the stock market to the oil market. For the developed countries, we find that the transmission of volatility is unidirectional from the oil market to stock market. For the USA and Italy, we find no transmission between the two markets. The transmission is bi-directional only in Thailand. Following our estimates, we also noticed that the emerging countries influence almost the same extent as the developed countries, while at the transmission of volatility there a bid difference. The GARCH-BEKK model is more effective than the others versions to minimize the risk of an oil-stock portfolio.

Keywords: GARCH, oil prices, stock market, volatility transmission

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Authors: Jiachen Wang, Dongxu Ji

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Geothermal power generation is a mature technology with zero carbon emission and stable power output, which could play a vital role as an optimum substitution of base load technology in China’s future decarbonization society. However, the development of geothermal power plants in China is stagnated for a decade due to the underestimation of geothermal energy and insufficient favoring policy. Lack of understanding of the potential value of base-load technology and environmental benefits is the critical reason for disappointed policy support. This paper proposed a different energy-economic model to uncover the potential benefit of developing a geothermal power plant in Puer, including the value of base-load power generation, and environmental and economic benefits. Optimization of the Organic Rankine Cycle (ORC) for maximum power output and minimum Levelized cost of electricity was first conducted. This process aimed at finding the optimum working fluid, turbine inlet pressure, pinch point temperature difference and superheat degrees. Then the optimal ORC model was sent to the energy-economic model to simulate the potential economic and environmental benefits. Impact of geothermal power plants based on the scenarios of implementing carbon trade market, the direct subsidy per electricity generation and nothing was tested. In addition, a requirement of geothermal reservoirs, including geothermal temperature and mass flow rate for a competitive power generation technology with other renewables, was listed. The result indicated that the ORC power plant has a significant economic and environmental benefit over other renewable power generation technologies when implementing carbon trading market and subsidy support. At the same time, developers must locate the geothermal reservoirs with minimum temperature and mass flow rate of 130 degrees and 50 m/s to guarantee a profitable project under nothing scenarios.

Keywords: geothermal power generation, optimization, energy model, thermodynamics

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Authors: A. Edwards

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The civil service was created to reform the hiring process for public officials, changing the patronage system to a merit-based system. Though exam reforms continued throughout the 20th century, there have been few during the 21st century, particularly in New York state. In the case of police departments, the civil service exam has acted as a hindrance to its ‘21st Century Policing’ goals and new exam reform efforts have left out officers voices and concerns. Through in-depth interviews of current and retired police officers and local and state civil service administrators in Albany County in New York, this study seeks to understand police influence and insight regarding the civil service exam, placing some of the voice and input for civil service reform on police departments, instead of local and state bureaucrats. The study also looks at the relationship between civil service administrators and police departments. Using practice theory, the study seeks to understand the ways in which the civil service exam was defined in the 20th century and how it is out of step with current thinking while examining possible changes to the civil service exam that would lead to a more equitable hiring process and successful police departments.

Keywords: civil service, hiring, merit, policing

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Authors: Filiz Ersoz, Taner Ersoz, Tugrul Bayraktar

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Renewable energy is referred to as "clean energy" and common popular support for the use of renewable energy (RE) is to provide electricity with zero carbon dioxide emissions. This study provides useful insight into the European Union (EU) RE, especially, into electricity generation obtained from renewables, and their targets. The objective of this study is to identify groups of European countries, using multivariate statistical analysis and selected indicators. The hierarchical clustering method is used to decide the number of clusters for EU countries. The conducted statistical hierarchical cluster analysis is based on the Ward’s clustering method and squared Euclidean distances. Hierarchical cluster analysis identified eight distinct clusters of European countries. Then, non-hierarchical clustering (k-means) method was applied. Discriminant analysis was used to determine the validity of the results with data normalized by Z score transformation. To explore the relationship between the selected indicators, correlation coefficients were computed. The results of the study reveal the current situation of RE in European Union Member States.

Keywords: share of electricity generation, k-means clustering, discriminant, CO2 emission

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Authors: Fahad Ahmed Qureshi

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

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

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Authors: Lin Tang, Xiaoxia Guo, Lingling Zhang

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Recent vaccine scandals overshadowed China’s accomplishment of public health, triggering discussions on the causes of vaccine incidents. Through legal interpretation of selected vaccine incidents and analysis of systemic vulnerabilities in vaccine circulation and lot release, a panoramic review of legislative progresses in the vaccine administration sheds the light on this debate. In essence, it is the combination of the lagging legal system and the absence of information technology infrastructure in the process of vaccine administration reform that has led to the recurrence of vaccine incidents. These findings have significant implications for further improvement of vaccine administration and China’s participation in global healthcare.

Keywords: legislation, lot release, public health, reform, vaccine administration, vaccine circulation

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Authors: Jagoda Przybysz

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The main objective of this paper is to provide a comprehensive description of the immigrants in Poland, especially situation at the labour market. The paper will provide descriptive information on the composition of immigrants in Poland, and how this has changed over time, their socio-economic characteristics, their industry allocation and their labour market outcomes. Then we will investigate various labour market performance indicators (labour force participation, employment, wages and self-employment) for immigrants of different origins based on reached statistics. Individual interviews with immigrants will indicate areas of problems of living in Poland, mostly on labour market. The article shows that immigrants from some ethnic minority groups are more active in selected sectors of labour market. The empirical basis for the work related to the situation on the labor market of foreigners who came to the Poland and live in Lodz. The studies assumed that foreigners work in Poland and operate in different ways being integrated / excluded in varying degrees. Theoretical framework for analysis are: concepts of inclusion and exclusion, the concept of a dual labour market and the concept of social anchors. Completed in the 2014-2016, a pilot study (The forms of individual interviews) with 32 foreigners arrived in the last decade to Lodz. Preliminary studies have enabled the formulation of research issues and have set the future direction of research revealing to the personal experiences of respondents, a group of factors hindering integration and exclusion areas.

Keywords: foreigners, immigrants, labour market, migration, Poland

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Authors: Hadis Pouyafar, D. Matin Alaghmandan

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Gallium arsenide (GaAs) solar cells are widely used in applications like spacecraft and satellites because they have a high absorption coefficient and efficiency and can withstand high-energy particles such as electrons and protons. With the energy crisis, there's a growing need for efficiency and cost-effective solar cells. GaAs cells, with their 46% efficiency compared to silicon cells 23% can be utilized in buildings to achieve nearly zero emissions. This way, we can use irradiation and convert more solar energy into electricity. III V semiconductors used in these cells offer performance compared to other technologies available. However, despite these advantages, Si cells dominate the market due to their prices. In our study, we took an approach by using software from the start to gather all information. By doing so, we aimed to design the optimal building that harnesses the full potential of solar energy. Our modeling results reveal a future; for GaAs cells, we utilized the Grasshopper plugin for modeling and optimization purposes. To assess radiation, weather data, solar energy levels and other factors, we relied on the Ladybug and Honeybee plugins. We have shown that silicon solar cells may not always be the choice for meeting electricity demands, particularly when higher power output is required. Therefore, when it comes to power consumption and the available surface area for photovoltaic (PV) installation, it may be necessary to consider efficient solar cell options, like GaAs solar cells. By considering the building requirements and utilizing GaAs technology, we were able to optimize the PV surface area.

Keywords: gallium arsenide (GaAs), optimization, sustainable building, GaAs solar cells

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Authors: Muhammad Ilham Agus Salim, Muhammad Ikbal

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The ASEAN Economic Community (AEC) was set up in 2003 with the objectives of creating a single market and production base, enhancing equitable economic development as well as facilitating the integration into the global economy. The AEC involves liberalization and facilitation of trade in goods, skilled labour, services, and investment, as well as protection and promotion of investment. The thesis outlines the AEC Blueprint actions in scope of globalization of investment and capital market. Free flows of investment and freer flows of capital market urge countries in South East Asia to coordinate and to collaborate in securing the interest of public, and this leads to the importance of financial services authorities in ASEAN to prepare the mechanism of guarding the flows of investment. There is no exception, especially for Indonesian Financial Services Authority (OJK) as one of the authorized body in capital market supervision, to enforce its authorities as supervisory body.

Keywords: AEC blueprint, OJK, capital market, integration

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Authors: Balazs Kulcsar

Abstract:

Professional energy organizations perform analyses mainly on the global and national levels about the expected development of the share of renewables in electric power generation, heating, and cooling, as well as the transport sectors. There are just a few publications, research institutions, non-profit organizations, and national initiatives with a focus on studies in the individual towns, settlements. Issues concerning the self-supply of energy on the settlement level have not become too wide-spread. The goal of our energy geographic studies is to determine the share of local renewable energy sources in the settlement-based electricity supply across Hungary. The Hungarian energy supply system defines four categories based on the installed capacities of electric power generating units. From these categories, the theoretical annual electricity production of small-sized household power plants (SSHPP) featuring installed capacities under 50 kW and small power plants with under 0.5 MW capacities have been taken into consideration. In the above-mentioned power plant categories, the Hungarian Electricity Act has allowed the establishment of power plants primarily for the utilization of renewable energy sources since 2008. Though with certain restrictions, these small power plants utilizing renewable energies have the closest links to individual settlements and can be regarded as the achievements of the host settlements in the shift of energy use. Based on the 2017 data, we have ranked settlements to reflect the level of self-sufficiency in electricity production from renewable energy sources. The results show that the supply of all the energy demanded by settlements from local renewables is within reach now in small settlements, e.g., in the form of the small power plant categories discussed in the study, and is not at all impossible even in small towns and cities. In Hungary, 30 settlements produce more renewable electricity than their own annual electricity consumption. If these overproductive settlements export their excess electricity towards neighboring settlements, then full electricity supply can be realized on further 29 settlements from renewable sources by local small power plants. These results provide an opportunity for governmental planning of the realization of energy shift (legislative background, support system, environmental education), as well as framing developmental forecasts and scenarios until 2030.

Keywords: energy geography, Hungary, local small power plants, renewable energy sources, self-sufficiency settlements

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