Search results for: foreign currency debt

Authors: Azeb Degife

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Over the past few years, the volume of international investment in agricultural land has increased globally. In recent times, Ethiopian government uses agricultural investment as one of the most important and effective strategies for economic growth, food security and poverty reduction in rural areas. Since the mid-2000s, government has awarded millions of hectares of most fertile land to rich countries and some of the world's most wealthy people to export various kinds of crop, often in long-term leases and at bargain prices. This study focuses on the pros and cons of large-scale agriculture investment Gambella region, Ethiopia. The main results were generated both from primary and secondary data sources. Primary data are obtained through interview, direct observation and a focus group discussion (FGDs). The secondary data are obtained from published documents, reports from governmental and non-governmental institutions. The findings of the study demonstrated that agriculture investment has advantages on the socio-economic and disadvantages on socio-environmental aspects. The main benefits agriculture investments in the region are infrastructural development and generation employment for the local people. Further, the Ethiopian government also generates foreign currency from the agriculture investment opportunities. On the other hand, Gambella people are strongly tied to the land and the rivers that run through in the region. However, now large-scale agricultural investment by foreign and local investors on an industrial scale results deprives people livelihoods and natural resources of the region. Generally, the negative effects of agriculture investment include increasing food insecurity, and displacement of smallholder farmers and pastoralists. Moreover, agriculture investment has strong adverse environmental impacts on natural resources such as land, water, forests and biodiversity. Therefore, an Ethiopian government strategy needs to focus on integration approach and sustainable agricultural growth.

Keywords: agriculture investment, cons, displacement, Gambella, integration approach, pros, socio-economic, socio-environmental

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Authors: Nattapong Techarattanased

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This survey research aimed to study the influence of attitude in services, product, and marketing mix affected intention to revisit in boutique hotel of foreign travelers in Bangkok, Thailand. The total 400 sets of closed-ended questionnaires were utilized for conducting data from foreign tourists who come to boutique hotel and can communicate in English. The descriptive statistics and multiple regression analysis were used to analyze data. The research found that tourists’ attitude towards the service of check in and check out process, food and beverage, guest room and other facilities affected in opportunity of revisiting, recommending to others and possibility of revisiting in the future at 0.05 statistically significant levels. Tourists’ attitude towards service and marketing mix in term of people, physical evidence, price, process and channel of distribution could forecast intention to revisit in term of recommending to others and intention to revisit in the future at 0.05 statistically significant levels.

Keywords: boutique hotel, foreign tourists, intention to revisit, service marketing mix

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Authors: Saeed Anwar

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Foreign aid has long been a prominent tool in the pursuit of economic development in recipient countries. This research paper aims to analyze the impact of foreign aid on economic development and explore the effectiveness of aid in promoting sustainable growth, poverty reduction, and improvements in human development indicators. Drawing upon a comprehensive review of existing literature, both theoretical frameworks and empirical evidence are synthesized to provide insights into the complex relationship between foreign aid and economic development. The paper examines various channels through which foreign aid influences economic development, including infrastructure development, education and healthcare investments, technology transfer, and institutional capacity building. It explores the potential positive effects of aid in stimulating economic growth, reducing poverty, and enhancing human capital formation. Additionally, it investigates the potential challenges and limitations associated with aid, such as aid dependency, governance issues, and the potential crowding out of domestic resources. Furthermore, the study assesses the heterogeneity of aid effectiveness across different types of aid modalities, recipient country characteristics, and aid allocation mechanisms. It considers the role of aid conditionality, aid fragmentation, and aid targeting in influencing the effectiveness of aid in promoting economic development. The findings of this research contribute to the ongoing discourse on foreign aid and economic development by providing a comprehensive analysis of the existing literature. The study highlights the importance of context-specific factors, recipient country policies, and aid effectiveness frameworks in determining the impact of foreign aid on economic development outcomes. The insights derived from this research can inform policymakers, donor agencies, and practitioners in designing and implementing effective aid strategies to maximize the positive impact of foreign aid on economic development.

Keywords: foreign aid, economic development, sustainable growth, poverty reduction, human development indicators, infrastructure development, education, healthcare, technology transfer, institutional capacity building, aid effectiveness, aid dependency, governance, crowding out, aid conditionality, aid fragmentation, aid targeting, recipient country policies, aid strategies, donor agencies, policymaking

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Authors: Mansour Rezvani, Mohammad Mahdi Mortaheb

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This study considers the employment of foreign workforce in Kish Free Trade and Industrial Zone and aims to investigate the productivity of foreign construction labours as compared to their local counterpart. Moreover, this study compares work skills and experience of foreign and local Iranian construction workers to optimize construction working conditions. The results and findings have been effectively applied to develop a training program to optimize and promote Iranian workforce productivity and effectiveness in construction industry in comparison with foreign workforce. It is hoped that the accumulated findings contribute to decrease demand for foreign workers and skills shortages in construction sectors. Therefore, job vacancies for local residents in Kish and other looking for job people in main lands will be increased. The method of collecting data has been conducted by distributing a questionnaire and interviewing most foreign construction workers, local Iranian construction works and the project managers of five mega projects in Kish Island including Mica mall, Basak, Persian, Damoon and Sarina mall. All data have been analyzed by SPSS and Excel software. A topic-related survey was conducted through a structured questionnaire including 54 employers, 20 contractors and 13 consultants. About 56 factors were identified. After implementing the context validity test, 52 factors were stated in 52 questions based on five major groups consist of: (1) economical, (2) social and cultural, (3) individual, (4) technical, (5) organizational, environmental and legal. Based on the quantified Relative Importance Index, the ten most important factors, ten less important factors, and three most important categories were identified. To date, there is not any comprehensive study that explores the important critical factors in mega construction projects on Kish Island to identify the major problems to decrease demand for foreign workers.

Keywords: cultural characteristics, foreign worker, local construction workers, productivity, technical training

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Authors: Md. Baki Billah, Suraiya Parveen, Shuvra Kanti Dey

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Bangladesh is earning a lot of foreign currency by exporting shrimp, but this industry is facing a tremendous problem due to the infection of white spot syndrome virus (WSSV). This study was undermined to develop rapid detection method of WSSV. A total of shrimp samples 240 collected from the 12 shrimp farms of different coastal regions (Satkhira, Khulna, and Bagerhat) were analyzed by conventional PCR using VP28 and VP664 gene-specific primers. In satkhira, Bagerhat and Khulna 39, 41 and 29 samples were found WSSV positive respectively. Real-time PCR using 71-bp amplicon for VP664 gene correlated well with conventional PCR data. The prevalence rates of WSSV among the collected 240 samples were Satkhira 38%, Khulna 47% and Bagerhat 50%. Molecular analysis of the VP28 gene sequences of WSSV revealed that Bangladeshi strains phylogenetically affiliated to the strains belong to India. This work concluded that WSSV infections are widely distributed in the coastal regions cultured shrimp in Bangladesh. Physico-chemical parameters were within the range of fish culture.

Keywords: coastal regions of Bangladesh, PCR, shrimp, white spot syndrome virus

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Authors: Fakieh Alrabai

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This paper presents an experimental study designed to explore some of the learner’s individual and interpersonal factors (e.g. persistence, interest, regulation, satisfaction, appreciation, etc.) that Saudi learners experience when learning English as a Foreign Language and how learners’ perceptions of these factors influence various aspects of their motivation to learn English language. As part of the study, a 27-item structured survey was administered to a randomly selected sample of 105 Saudi learners from public schools and universities. Data collected through the survey were subjected to some basic statistical analyses, such as "mean" and "standard deviation". Based on the results from the analysis, a number of generalizations and conclusions are made in relation to how these inherent factors affect Saudi learners’ motivation to learn English as a foreign language. In addition, some recommendations are offered to Saudi academics on how to effectively make use of such factors, which may enable Saudi teachers and learners of English as a foreign language to achieve better learning outcomes in an area widely associated by Saudis with lack of success.

Keywords: persistence, interest, appreciation, satisfaction, SL/FL motivation

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Authors: Nini Johana Marin Rodriguez

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This paper applies DCC, EWMA and OGARCH models to compare the dynamic correlations between exchange rates, oil prices, exchange rates and stock markets to examine the time-varying conditional correlations to the daily oil prices and index returns in relation to the US dollar/local currency for developed (Canada and Mexico) and emerging Latin American markets (Brazil, Chile, Colombia and Peru). Changes in correlation interactions are indicative of structural changes in market linkages with implications to contagion and interdependence. For each pair of stock price-exchange rate and oil price-US dollar/local currency, empirical evidence confirms of a strengthening negative correlation in the last decade. Methodologies suggest only two events have significatively impact in the countries analyzed: global financial crisis and Europe crisis, both events are associated with shifts of correlations to stronger negative level for most of the pairs analyzed. While, the first event has a shifting effect on mainly emerging members, the latter affects developed members. The identification of these relationships provides benefits in risk diversification and inflation targeting.

Keywords: crude oil, dynamic conditional correlation, exchange rates, interdependence, stock prices

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Authors: Bec Strating

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This paper examines the ways that domestic politics and pressure–generated through lobbying, public diplomacy campaigns and other tools of soft power-contributes to the formation of short-term and long-term national interests, priorities and strategies of states in their international relations. It primarily addresses the conceptual problems regarding the kinds of influence that lobby groups wield in foreign policy and how this influence might be assessed. Scholarly attention has been paid to influential foreign policy lobbies and interest groups, particularly in the areas of US foreign policy. Less attention has been paid to how lobby groups might influence the foreign policy of a middle power such as Australia. This paper examines some of the methodological complexities in developing and conducting a research project that can measure the nature and influence of lobbies on foreign affairs priorities and activities. This paper will use Australian foreign policy in the context of its historical bilateral relationship with Indonesia as a case study for considering the broader issues of domestic influences on foreign policy. Specifically, this paper will use the so-called ‘pro-Jakarta lobby’ as an example of an interest group. The term ‘pro-Jakarta lobby’ is used in media commentary and scholarship to describe an amorphous collection of individuals who have sought to influence Australian foreign policy in favour of Indonesia. The term was originally applied to a group of Indonesian experts at the Australian National University in the 1980s but expanded to include journalists, think tanks and key diplomats. The concept of the ‘pro-Jakarta lobby’ was developed largely through criticisms of Australia’s support for Indonesia’s sovereignty of East Timor and West Papua. Pro-Independence supporters were integral for creating the ‘lobby’ in their rhetoric and criticisms about the influence on Australian foreign policy. In these critical narratives, the ‘pro-Jakarta lobby’ supported a realist approach to relations with Indonesia during the years of President Suharto’s regime, which saw appeasement of Indonesia as paramount to values of democracy and human rights. The lobby was viewed as integral in embedding a form of ‘foreign policy exceptionalism’ towards Indonesia in Australian policy-making circles. However, little critical and scholarly attention has been paid to nature, aims, strategies and activities of the ‘pro-Jakarta lobby.' This paper engages with methodological issues of foreign policy analysis: what was the ‘pro-Jakarta lobby’? Why was it considered more successful than other activist groups in shaping policy? And how can its influence on Australia’s approach to Indonesia be tested in relation to other contingent factors shaping policy? In addressing these questions, this case study will assist in addressing a broader scholarly concern about the capacities of collectives or individuals in shaping and directing the foreign policies of states.

Keywords: foreign policy, interests groups, Australia, Indonesia

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Authors: Angel Mabudusha

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The impression created by the high volume of foreign nationals being deported by the South African Home Affairs and the police departments is that all undocumented foreign nationals insist on staying in South Africa and voluntary repatriation is open for every person. However, those foreign nationals whose request for deportation has been rejected are often not reported on especially their everyday survival as undocumented immigrant women and their encounter with the police on the street. As a result, this paper aims at exploring the everyday experiences of these women on the street and on why the number of undocumented immigrant women in this country will remain a challenge to the police department. The research was conducted in two cities in South Africa, namely: Johannesburg and Pretoria where the police, the undocumented immigrant women, the human rights lawyers and NGO officials were interviewed on this matter. Based on the idea that voluntary repatriation is open for every immigrant, this study has found that some women’ request for voluntary repatriation remain a dream that never came true. Furthermore, this article proposes more humanitarian ways of dealing with undocumented immigrant women.

Keywords: repatriation, refugee status, undocumented foreign nationals, humanitarian

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Authors: E. C. Mattos, V. S. M. G. Daros, R. Dal Col, A. L. Nascimento

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The aim of this study is to present the results of a retrospective survey on the foreign matter found in foods analyzed at the Adolfo Lutz Institute, from July 2001 to July 2015. All the analyses were conducted according to the official methods described on Association of Official Agricultural Chemists (AOAC) for the micro analytical procedures and Food and Drug Administration (FDA) for the macro analytical procedures. The results showed flours, cereals and derivatives such as baking and pasta products were the types of food where foreign matters were found more frequently followed by condiments and teas. Fragments of stored grains insects, its larvae, nets, excrement, dead mites and rodent excrement were the most foreign matter found in food. Besides, foreign matters that can cause a physical risk to the consumer’s health such as metal, stones, glass, wood were found but rarely. Miscellaneous (shell, sand, dirt and seeds) were also reported. There are a lot of extraneous materials that are considered unavoidable since are something inherent to the product itself, such as insect fragments in grains. In contrast, there are avoidable extraneous materials that are less tolerated because it is preventable with the Good Manufacturing Practice. The conclusion of this work is that although most extraneous materials found in food are considered unavoidable it is necessary to keep the Good Manufacturing Practice throughout the food processing as well as maintaining a constant surveillance of the production process in order to avoid accidents that may lead to occurrence of these extraneous materials in food.

Keywords: extraneous materials, food contamination, foreign matter, surveillance

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Authors: Apirada Chinprateep

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The ASEAN Economic Community (AEC) shall be the goal of regional economic integration by 2015. Tourism is an activity that is growing important, especially as a source of foreign currency, employment creation and distribution of income bringing to the region. The preparation of members of the countries group, given the complexity of the issues entail to the concept of sustainable tourism, this paper tries to assess tourism sustainability, based on a number of quantitative indicators for all the ten economies, first, Thailand, compared with other nine countries, Myanmar, Laos, Vietnam, Malaysia, Singapore, Indonesia, Philippines, Cambodia, and Brunei. The proposed methodological framework will provide a number of benchmarks of tourism activities in these countries assessed. They include identification of the dimensions, for example, economic, socio-ecologic, infrastructure and indicators, method of scaling, chart representation and evaluation on Asian countries. This specification shows us that a similar level of tourism activity might introduce different sort of implementation in the tourism activity and might have different consequences for the socio-ecological environment and sustainability. The heterogeneity of developing countries exposed briefly here would be useful to detect and prepare for coping with the main problem of each country in their tourism activities, as well as competitiveness and value creation of tourism for ASEAN economic community, and will compare with other parts of the world and the world benchmark.

Keywords: AEC, ASEAN, sustainable, tourism, competitiveness

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Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz

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Changes in the global risk appetite cause co-movement in emerging market risk premiums. However, the sensitivity of the changes in risk premium to the global risk appetite may vary across emerging markets. In this study, how the global risk appetite affects Credit Default Swap (CDS) premiums in emerging markets are analyzed using Principal Component Analysis (PCA) and rolling regressions. The PCA results indicate that the first common component derived by the PCA accounts for almost 76 percent of the common variation in CDS premiums. Additionally, the explanatory power of the first factor seems to be high over the sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are used to identify the macroeconomic factors driving the heterogeneity across emerging markets. The panel regression results point to the significance of government debt to GDP and international reserves to GDP in explaining sensitivity. Accordingly, countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.

Keywords: credit default swaps, emerging markets, principal components analysis, sovereign risk

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Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz

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Risk premium of emerging markets are moving altogether depending on the momentum and shifts in the global risk appetite. However, the magnitudes of these changes in the risk premium of emerging market economies might vary. In this paper, we focus on how global risk factor affects credit default swaps (CDS) premiums of emerging markets using principal component analysis (PCA) and rolling regressions. PCA results indicate that the first common component accounts for almost 76% of common variation in CDS premiums of emerging markets. Additionally, the explanatory power of the first factor seems to be high over sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are employed to identify the macroeconomic factors driving the heterogeneity across emerging markets. There are two main macroeconomic variables that affect the sensitivity; government debt to GDP and international reserves to GDP. The countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.

Keywords: emerging markets, principal component analysis, credit default swaps, sovereign risk

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Authors: Olivier Mesly

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This article examines the likelihood of deception on the part of borrowers wishing to obtain credit from institutional or private lenders. In our first study, we identify five explanatory variables that account for nearly forty percent of the propensity to act deceitfully: a poor credit history, debt, risky behavior, and to a much lesser degree, irrational behavior and disconnection from the bundle of needs, goals, and preferences. For the second study, we remodeled the initial questionnaire to adapt it to the needs of institutional bankers and borrowers, especially those that engage in money on-line peer-to-peer lending, a growing business fueled by the COVID pandemic. We find that the three key psychological variables that help to indirectly predict the likelihood of deceitful behaviors and possible default on loan reimbursement, i.e., risky behaviors, ir-rationality, and dis-connection, interact with each other to form a loop. This study presents two benefits: first, we provide evidence that it is to some degree possible to tighten control over lending practices. Second, we offer a pragmatic tool: a questionnaire, that lenders can use or adapt to gauge potential borrowers’ deceit, notably by combining their results with standard hard-data measures of risk.

Keywords: bundle of needs, default, debt, deception, risk, peer-to-peer lending

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Authors: Shilpi Tripathi

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India has adopted the policy of economic reforms (Globalization, Liberalization, and Privatization) in 1991 which has reduced the trade barriers and investment restrictions and further increased the economy’s international trade, foreign direct investment (FDI) inflows and Gross Domestic Product (GDP) growth. The paper empirically studies the relationship between India’s international trades, GDP, FDI and environment during 1978-2012. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO2). The second part focuses on the literature regarding the relationship among all the variables. The last part of paper, we examine the results of empirical analysis like co integration and Granger causality between foreign trade, FDI inflows, GDP and CO2 since 1978. The findings of the paper revealed that there is only one uni- directional causality exists between GDP and trade. The direction of causality reveals that international trade is one of the major contributors to the economic growth (GDP). While, there is no causality found between GDP and FDI, FDI, and CO2 and International trade and CO2. The paper concludes with the policy recommendations that will ensure environmental friendly trade, investment and growth in India for future.

Keywords: international trade, foreign direct investment, GDP, CO2, co-integration, granger causality test

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Authors: Maria João Mimoso, Bárbara Magalhães Bravo

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This study aims to analyse the phenomenon of arbitration as a paradigm in solving emerging controversies of foreign investment. We will present their benefits and demonstrate their contribution to greater legal certainty in economic relations. This article explores the legal relevant concepts under a strictly conceptual methodology, preparing future research to be developed under more developed comparative law methodologies. The review of national and international literature and jurisprudence will reveal the importance of arbitration in the field of international economic relations, presenting it as an alternative dispute resolution. Globalization imposes new forms of investment protection and appeals to other forms of dispute settlement, primarily to prevent, among other problems, the possible bias of the recipient country's investment tribunals. Characterization of foreign investment, its regulatory sources, their characteristics and the need for intervention of an entity capable of resolving disputes between the parties involved: State investor reception; Investor (of a nationality other than the latter); State of the investor's nationality, and sometimes a ‘subsidiary’ local foreign investor. The ICSID (International Settlement of Investment Disputes) arbitration as a means of resolving investment litigations covered by bilateral treaties (BIT) and investment contracts calls for a delimitation of these two figures in order to clarify the scope of the arbitration under the aegis of the World Bank and to make it more secure in the view of the sovereign power of the States.

Keywords: arbitration, contract, foreign, investment, disputes

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Authors: Abdul-Nasser El-Kassar, Walid Elgammal, Hisham Jawhar

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This paper studies the determinants of the dividends payout ratio. The factors affecting the dividends payout ratio are to be identified. The study focuses only on the cement and construction industry within the MENA region in an attempt to isolate any incoherent behavior. The factors under consideration are: sales growth, ROE, ROA, ROS, debt to equity ratio, firm size, and free cash flow. Data were collected from official stock exchange markets in addition to annual reports. The study considered all firms that paid dividend in each of the three consecutive years starting from 2010 till 2012. Out of the 123 listed firms that work in cement and construction industry in MENA region, only 19 paid dividends in the three consecutive years 2010-12. Our sample consists of the 19 firms (57 observations) which are selected according to purposive sampling. Moreover, the study uses the homogeneous subcategory within the purposive sampling since only similar firms in the construction industry had been examined. The outcome of the study provides a vital insight into the determinants of dividends payout ratio of companies in MENA region. The results showed that the dividend payout ratio has a strong and positive relationship with return on assets and strong but negative relationship with return on equity. On the other hand, the results detected weak relationships between dividend payout ratio and sale growth, debt to equity ratio, firm size, and free cash flow. The study suggests that board of directors tend to compensate shareholders and minimize the agency cost by distributing a high portion of profits in form of dividends whenever return on equity decreases. Also, when the performance of the firm improves, and hence return on assets increases, boards of directors are more generous in distributing profits.

Keywords: dividends payout ratio, profitability firm size, free cashflow, debt to equity ratio

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Authors: Esperanza C. Santos

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Japanese Language was traditionally considered as a means of imparting culture and training aesthetic experience in students and therefore as something beyond the practical aims of language teaching and learning. Due to the complexity of foreign languages, lots of language learners and teachers shared deep reservations about the potentials of foreign language in enhancing the communication skills of the students. In spite of the arguments against the use of Foreign Language (Nihon-go) in the classroom, the researcher strongly support the use of Nihon-go in teaching communication skills as the researcher believes that Nihon-go is a valuable resource to be exploited in the classroom in order to help the students explore the language in an interesting and challenging way. The focus of this research is to find out the relationship between the preferences, opinions, and perceptions with the communication skills. This study also identifies the significance of the relationship between preferences, opinions and perceptions and communications skills in the activities employed in Foreign language (Nihon-go) among the junior and senior students in Foreign Language 2 at the Imus Institute, Imus Cavite during the academic year 2013-2014. The results of the study are expected to encourage further studies that particularly focused on the communication skills as brought about by the identified factors namely: preferences, opinions, and perceptions on the benefits factor namely the language acquisition; access to Japanese culture and students' interpretative ability. Therefore, this research is in its quest for the issues and concerns on how to effectively teach different learning activities in a Nihon-go class.

Keywords: preferences, opinions, perceptions, language acquisition

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Authors: Brian Tung, Yam Wing Siu, Tsun Se Cheong

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Purpose: This research aims to explore how personal and environmental factors, especially the socio-economic changes and behavioral changes fostered by the COVID-19 outbreak pandemic, affect the financial vulnerability of a specific segment of people in financial distress. Innovative research methodology of machine learning will be applied to data collected from over 300 local individuals in Hong Kong seeking counseling or similar services in recent years. Results: First, machine learning has found that too much exposure to digital services and information on digitized services may lead to adverse effects on respondents’ financial vulnerability. Second, the improvement in financial literacy level provides benefits to the financially vulnerable group, especially those respondents who have started with a lower level. Third, serious addiction to digital technology can lead to worsened debt servicing ability. Machine learning also has found a strong correlation between debt servicing situations and income-seeking behavior as well as spending behavior. In addition, if the vulnerable groups are able to make appropriate investments, they can reduce the probability of incurring financial distress. Finally, being too active in borrowing and repayment can result in a higher likelihood of over-indebtedness. Conclusion: Findings can be employed in formulating a better counseling strategy for professionals. Debt counseling services can be more preventive in nature. For example, according to the findings, with a low level of financial literacy, the respondents are prone to overspending and unable to react properly to the e-marketing promotion messages pop-up from digital services or even falling into financial/investment scams. In addition, people with low levels of financial knowledge will benefit from financial education. Therefore, financial education programs could include tech-savvy matters as special features.

Keywords: personal finance, digitization of the economy, COVID-19 pandemic, addiction to digital technology, financial vulnerability

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Authors: Peter Mayeso Jiyajiya

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This paper discusses how the teaching of English as a foreign language in Malawi can enhance intercultural communication competence in a multicultural society. It argues that incorporation of intercultural communication in the teaching of English as a foreign language would improve cultural awareness in communication in the multicultural Malawi. The teaching of English in Malawi is geared towards producing students who would communicate in the global world. This entails the use of proper pedagogical approaches and instructional materials that prepare the students toward intercultural awareness. In view of this, the language teachers were interviewed in order to determine their instructional approaches to intercultural communication. Instructional materials were further evaluated to assess how interculturality is incorporated. The study found out that teachers face perceptual and technical challenges that hinder them from exercising creativity to incorporate interculturality in their lessons. This is also compounded by lack of clear direction in the teaching materials on cultural elements. The paper, therefore, suggests a holistic approach to the teaching of English language in Malawian school in which the diversity of culture in classrooms must be considered an opportunity for addressing students’ cultural needs that may be lacking in the instructional materials.

Keywords: cultural awareness, grammar, foreign language, intercultural communication, language teaching

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Authors: Soner Cubuk, Ozge Yilmaz, Ece Kok Yetimoglu, M. Vezir Kahraman

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In this work, a polymer based highly selective fluorescence sensor membrane was prepared by the photopolymerization technique for the determination Cd(II) ion. Sensor characteristics such as effects of pH, response time and foreign ions on the fluorescence intensity of the sensor were also studied. Under optimized conditions, the polymeric sensor shows a rapid, stable and linear response for 4.45x10-⁹ mol L-¹ - 4.45x10-⁸ mol L-¹ Cd(II) ion with the detection limit of 6.23x10-¹⁰ mol L-¹. In addition, sensor membrane was selective which is not affected by common foreign metal ions. The concentrations of the foreign ions such as Pb²+, Co²+, Ag+, Zn²+, Cu²+, Cr³+ are 1000-fold higher than Cd(II) ions. Moreover, the developed polymeric sensor was successfully applied to the determination of cadmium ions in food and water samples. This work was supported by Marmara University, Commission of Scientific Research Project.

Keywords: cadmium(II), fluorescence, photopolymerization, polymeric sensor

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Authors: Mahdi Karazmodeh, Pooyan Jafari

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One of the most interesting topics in finance is the relation between stock prices and exchange rates. During the past decades different stock markets in different countries have been the subject of study for researches. The volatilities of exchange rates and its effect on stock prices during the past 10 years have continued to be an attractive research topic. The subject of this study is one of the most important indices, FTSE 100. 20 firms with the highest market capitalization in 5 different industries are chosen. Firms are included in oil and gas, mining, pharmaceuticals, banking and food related industries. 5 different criteria have been introduced to evaluate the relationship between stock markets and exchange rates. Return of market portfolio, returns on broad index of Sterling are also introduced. The results state that not all firms are sensitive to changes in exchange rates. Furthermore, a Granger Causality test has been run to observe the route of changes between stock prices and foreign exchange rates. The results are consistent, to some level, with the previous studies. However, since the number of firms is not large, it is suggested that a larger number of firms being used to achieve the best results. However results showed that not all firms are affected by foreign exchange rates changes. After testing Granger Causality, this study found out that in some industries (oil and gas, pharmaceuticals), changes in foreign exchange rate will not cause any changes in stock prices (or vice versa), however, in banking sector the situation was different. This industry showed more reaction to these changes. The results are similar to the ones with Richards and Noel, where a variety of firms in different industries were evaluated.

Keywords: stock prices, foreign exchange rate, exchange rate exposure, Granger Causality

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Authors: Bárbara Magalhães Bravo, Cláudia Figueiras

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The economical globalization through the liberalization of the markets and capitals boosted the economical development of the nations and the needs for sorting out the disputes arising from the foreign investment. The arbitration, for all the inherent advantages, such as swiftness, arbitrators’ specialise skills and impartiality sets a pacifier tool for the interest in account. Safeguarded the public interest, we face the problem of the confidentiality in the arbitration. The urgent development of impelling mechanisms concerning transparency, guaranty and protection of the interest in account, reveals itself urgent. Through a bibliography review, we will dense the state of art, by going through the several solutions concerning, and pointing out the most suitable. Through the jurisprudential analysis we will point out the solution for the conflict confidentiality/public interest. The transparency, inextricable from the public interest, imposes the arbitration process can be open to all citizens. Transparency rules have been considered at the UNCITRAL in attempting to conciliate the necessity of publicity and the public interest, however still insufficient. The arbitration of foreign investment carries consequences to the citizens of the State. Articulating mechanisms between the arbitral procedures secrecy and the public interest should be adopted. The arbitration of foreign investment, being a tertius genius between the international arbitration and the administrative arbitration would claim its own regulation in each and every States where the confidentiality rules and its exceptions could be identified. One should enquiry where the limit of the citizens’ individual rights protection and the public interest should give way to the principle of transparency

Keywords: arbitration, foreign investment, transparency, confidenciality, International Centre for Settlement of Investment Disputes UNCITRAL

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Authors: Prajwal Raj Gyawali, Aastha Dahal

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The tension between human rights and loans provided by international development banks with hidden conditions in the pretext of development is a complex issue with significant implications for the rights of citizens in borrowing countries. It is important for all parties involved, including international banks, borrowing countries, and affected communities, to consider and respect human rights in the negotiation and implementation of development projects. Yet, it is rare for human rights actors or communities to have a seat at the negotiation table when loans are finalized. In our research, we conducted negotiation simulations in law schools to examine how international loan negotiations would play out if human rights actors and communities had seats at the table. We ran the negotiation simulations in Bangladesh, Nepal and India. We found that the presence of community groups and human rights actors makes a difference in loan outcomes. While the international development loan was accepted as opposed to rejected by negotiators in three countries, the cultural values of the respective countries played a significant part in terms of the final agreement. We present the findings and their implications for the design of human rights courses in law schools as well as larger policy implications for expanding the participation of actors in international development loan negotiations.

Keywords: law, development, debt, human rights

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Authors: Ying Zhu

Abstract:

Recent years have witnessed a boom of foreign investments in the field of artificial intelligence (AI). Foreign investments provide critical capital for AI development but also trigger national security concerns of host states. A notable example is an increasing number of cases in which the Committee on Foreign Investment in the United States (CFIUS) has denied Chinese acquisitions of US technology companies on national security grounds. On July 19, 2018, the Congress has reached a deal on the final draft of a new provision to strengthen CFIUS’s authority to review overseas transactions involving sensitive US technology. The question is: how to reconcile the emerging tension between, on the one hand, foreign AI investors’ expectations of a predictable investment environment, and on the other hand, host states’ regulatory power on national security? This paper provides a methodology to reconcile this tension under international investment law. Based on an examination, the national security exception clauses in international investment treaties and the application of national security justification in investor-state arbitration jurisprudence, the paper argues that a traditional interpretation of the national security exception, based on the necessity concept in customary international law, fails to take into account new risks faced by countries, including security concerns over strategic industries such as AI. To overcome this shortage, the paper proposes to incorporate an integrated national security clause in international investment treaties, which includes a two-tier test: a ‘self-judging’ test in the pre-establishment period and a ‘proportionality’ test in the post-establishment period. At the end, the paper drafts a model national security clause for future treaty-drafting practice.

Keywords: foreign investment, artificial intelligence, international investment law, national security exception

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Authors: Elizabeth Mahenge

Abstract:

Unemployment is a problem that face many graduates all over the world. Every year universities in many parts of the world produce graduates who are looking for an employment. Swahili, a Bantu language originated in East African coast, can be used as an avenue for youth’s employment in South Africa. This paper helps youth to know about job opportunities available through teaching Swahili language. The objective of this paper is capacity building to youths to be teachers of Swahili and be ready to compete in the marketplace. The methodology was through two weeks online training on how to teach Swahili as a foreign language. The communicative approach and task-based approach were used.  Participants to this training were collected through a WhatsApp group advertisement about “short training for Swahili teachers for foreigners”. A total number of 30 participants registered but only 11 attended the training. Training was online via zoom. The contribution of this paper is that by being fluent in Swahili one would benefit with teaching job opportunities anywhere in the world. Hence the problem of unemployment among the youths would be reduced as they can employ themselves or being employed in academic institutions anywhere in the world. The paper calls for youths in South Africa to opt for Swahili language courses to be trained and become experts in the teaching Swahili as a foreign language.

Keywords: foreign language, linguistic market, Swahili, employment

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Authors: Concepcion Gonzalez-Concepcion, Maria Candelaria Gil-Fariña, Celina Pestano-Gabino

Abstract:

We analyze six relevant economic and financial variables for the period 2000M1-2015M3 in the context of the Spanish economy: a financial index (IBEX35), a commodity (Crude Oil Price in euros), a foreign exchange index (EUR/USD), a bond (Spanish 10-Year Bond), the Spanish National Debt and the Consumer Price Index. The goal of this paper is to analyze the main relations between them by computing the Wavelet Power Spectrum and the Cross Wavelet Coherency associated with Morlet wavelets. By using a special toolbox in MATLAB, we focus our interest on the period variable. We decompose the time-frequency effects and improve the interpretation of the results by non-expert users in the theory of wavelets. The empirical evidence shows certain instability periods and reveals various changes and breaks in the causality relationships for sample data. These variables were individually analyzed with Daubechies Wavelets to visualize high-frequency variance, seasonality, and trend. The results are included in Proceeding 20th International Academic Conference, 2015, International Institute of Social and Economic Sciences (IISES), Madrid.

Keywords: economic and financial variables, Spain, time-frequency domain, wavelet coherency

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Authors: Paramet Damchoo

Abstract:

The purpose of this study is to study the factors that influence the decision making of foreign volunteer tourists in Thailand. A sample size was 400 drawn from 10 provinces of Thailand using cluster sampling method. The factor analysis was used to analysis the data. The findings indicate that volunteer tourism which was based in Thailand contained a total of 45 activities which could be divided into 4 categories. The most of these tourists were from Europe including UK and Scandinavia which was 54.50 percent. Moreover, the tourists were male rather than female and 63.50 Percent of them ware younger than 20 years old. It is also found that there are 67.00 percent of the tourists used website to find where the volunteer tourism was based. Finally, the factors that influence the decision making of foreign volunteer tourists in Thailand consist of a wide variety of activities together with a flexibility in their activities and also low prices.

Keywords: decision making, volunteer tourism, special interest tourism, GAP year

Procedia PDF Downloads 315

Authors: Shilpi Tripathi

Abstract:

After independence, Bangladesh had to learn to survive on its own without any economic crutches (aid). Foreign direct investment (FDI) became a crucial economic tool for the country to become economically independent. The government started removing restrictions to encourage foreign investment, economic growth, international trade, and the environment. FDI is considered as a way to bridge the saving-investment gap, reduce poverty, balance trade, create jobs for its vast labour force, increase foreign exchange earnings and acquire new modern technology and management skills in the country. At the same time, spillovers of foreign investments in Bangladesh, such as low wages (compared to laborers of developed countries), poor working conditions and unbridled exploitation of the domestic resources, environmental externalities, etc., cannot be ignored. The most important adverse implications of FDI inflows noticed are the environmental problems, which are further impacting the health and society of the country. This paper empirically studies the relationship between FDI, economic growth, international trade (exports and Imports), and the environment since 1996. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO₂). The second part focuses on the literature review on the relationship between all the variables. The last part of the paper examines the results of empirical analysis like co-integration and Granger causality. The findings of the paper reveal that a uni-directional relationship exists between FDI, CO₂, and international trade (exports and imports). The direction of the causality reveals that FDI inflow is one of the major contributors to high-volume international trade. At the same time, FDI and international trade both are contributing to carbon emissions in Bangladesh. The paper concludes with the policy recommendations that will ensure environmentally friendly trade, investment, and growth in Bangladesh for the future.

Keywords: foreign direct investment, GDP, international trade, CO₂, Granger causality, environment

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Authors: Sabitha Rahim

Abstract:

In the context of teaching vocabulary of English as Foreign Language (EFL), the confluence of memory and retention is one of the most significant factors in students' language acquisition. The progress of students engaged in foreign language acquisition is often stymied by vocabulary attrition, which leads to learners' lack of confidence and motivation. However, among other factors, little research has investigated the importance of neuroplasticity in Foreign Language acquisition and how underused neural pathways lead to the loss of plasticity, thereby affecting the learners’ vocabulary retention and motivation. This research explored the effect of enhancing vocabulary acquisition of EFL students in the Foundation Year at King Abdulaziz University through various methods and neuroplasticity exercises that reinforced their attention, motivation, and engagement. It analyzed the results to determine if stimulating the brain of EFL learners by various physical and mental activities led to the improvement in short and long term memory in vocabulary retention. The main data collection methods were student surveys, assessment records of teachers, student achievement test results, and students' follow-up interviews. A key implication of this research is for the institutions to consider having multiple varieties of student activities promoting brain plasticity within the classrooms as an effective tool for foreign language acquisition. Building awareness among the faculty and adapting the curriculum to include activities that promote brain plasticity ensures an enhanced learning environment and effective language acquisition in EFL classrooms.

Keywords: language acquisition, neural paths, neuroplasticity, vocabulary attrition

Procedia PDF Downloads 137