Search results for: free trade

Authors: Chiung-Ju Huang

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This study utilizes a frequency domain approach over the period of 1996 to 2013 to examine the causal relationship between governance and economic growth in ten Asian countries, which have different levels of democracy; classified as “Free”, “Partly Free”, and “Not Free” countries. The empirical results show that there is no Granger causality running from governance to economic growth in “Not Free” countries and “Partly Free” countries with the exception of Singapore. As for “Free” countries such as South Korea and Taiwan, there is a one-way causality running from governance to economic growth. The findings of this study indicate that policy makers in South Korea, Taiwan, and Singapore could use governance index to improve their predictions of the future economic growth.

Keywords: economic growth, frequency domain, governance, granger causality

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Authors: Aklilu Zeleke

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A cross-sectional study was conducted in order to understand the effect of wet and dry seasons on the free residual chlorine and bacteriological contamination of the Addis Ababa (Ethiopia) water supply system. Water samples were taken at 30 selected distribution points and analyzed for Free Residual Chlorine and bacteriological analysis total coliforms and fecal coliform). It was found that some of the bacteriological data and Free Residual Chlorine levels are below the recommended values and beyond the maximum tolerable limits recommended by World Health Organization and Ethiopian National Standards. Water quality during the dry season is better than that of the wet season. There is a strong relationship between Free Residual Chlorine levels in drinking water and its bacteriological quality.

Keywords: addis ababa, wet season, dry season, free residual chlorine

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Authors: Suresh Palla, Kalpna Sharma, Gaurav Bhatnagar, S. K. Chaturvedi, B. N. Mohapatra

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Determining the content of free lime is especially important to judge reactivity of the raw materials and clinker quality. The free lime limit isn’t the same for all cements; it depends on several factors, especially the temperature reached during the cooking and the grain size distribution in cement after grinding. Estimation of free lime by conventional method is influenced by the presence of portlandite and misleads the actual free lime content in the clinker for quality check up conditions. To ensure the product quality according to the standard specifications in terms of within the quality limits or not, a reliable, precise, and very reproducible method to quantify the relative phase abundances in the Portland Cement clinker and Portland Cements is to use X-ray diffraction (XRD) in combination with the Rietveld method. In the present study, a methodology was proposed using XRD to validate the obtained results of free lime by conventional method. The XRD and TG/DTA results confirm the presence of portlandite in the clinker to take the decision on the obtained free lime results through conventional method.

Keywords: free lime, quantitative phase analysis, conventional method, x ray diffraction

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Authors: Mohamed El-Khateeb

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Encompassing inventory, warehousing, and transportation management, logistics is a crucial predictor of firm performance. This has been extensively proven by extant literature in business and operations management. Logistics is also a fundamental determinant of a country's ability to access international markets. Available studies in international and transport economics have shown that limited transport infrastructure and underperforming transport services can severely affect international competitiveness. However, the evidence lacks the overall impact of logistics performance-encompassing all inventory, warehousing, and transport components- on global trade. In order to fill this knowledge gap, the paper uses a gravitational trade model with 155 countries from all geographical regions between 2007 and 2018. Data on logistics performance is obtained from the World Bank's Logistics Performance Index (LPI). First, the relationship between logistics performance and a country’s total trade is estimated, followed by a breakdown by the economic sector. Then, the analysis is disaggregated according to the level of technological intensity of traded goods. Finally, after evaluating the intensive margin of trade, the relevance of logistics infrastructure and services for the extensive trade margin is assessed. Results suggest that: (i) improvements in both logistics infrastructure and services are associated with export growth; (ii) manufactured goods can significantly benefit from these improvements, especially when both exporting and importing countries increase their logistics performance; (iii) the quality of logistics infrastructure and services becomes more important as traded goods are technology-intensive; and (iv) improving the exporting country's logistics performance is essential in the intensive margin of trade while enhancing the importing country's logistics performance is more relevant in the extensive margin.

Keywords: low-cost, recycling, reuse, solid waste, wastewater treatment

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Authors: Ivana Yuniarti, Iwan Ridwansyah

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This paper delivers a review of various methodologies for habitat assessment and a proposed methodology to assess an endemic fish species habitat in Lake Maninjau, Indonesia as a part of a Ph.D. project. This application is mainly aimed to assess the trade-off between the economic value of aquaculture and the fisheries. The proposed methodology is a generalized linear model (GLM) combined with GIS to assess presence-absence data or habitat suitability index (HSI) combined with the analytical hierarchy process (AHP). Further, a cost of habitat replacement approach is planned to be used to calculate the habitat value as well as its trade-off with the economic value of aquaculture. The result of the study is expected to be a scientific consideration in local decision making and to provide a reference for other areas in the country.

Keywords: AHP, habitat, GLM, HSI, Maninjau

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Authors: Rishabh Garg

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Traditionally, business parties build trust with a centralized operating mechanism, such as payment by letter of credit. However, the increase in cyber-attacks and malicious hacking has jeopardized business operations and finance practices. Emerging markets, owing to their higher banking risks and bigger presence of digital financing, are looking forward to technology-driven solutions, financial inclusion and innovative working paradigms. Blockchain has the potential to enhance transaction transparency and supply chain traceability. It has captured a vast landscape with 200 million crypto users worldwide. Fintech and blockchain products are popping up across brokerage, digital wallets, exchanges, post-trade clearance, settlement, middleware, infrastructure, and base protocols.

Keywords: blockchain, distributed ledger technology, decentralized applications, ethereum, smart contracts, trade finance

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Authors: Pornpimol Chaiwuttisak

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The study aims to compare the performance of the logistics for Thailand’s wholesale and retail trade industries (except motor vehicles, motorcycle, and stalls) by using data (data envelopment analysis). Thailand Standard Industrial Classification in 2009 (TSIC - 2009) categories that industries into sub-group no. 45: wholesale and retail trade (except for the repair of motor vehicles and motorcycles), sub-group no. 46: wholesale trade (except motor vehicles and motorcycles), and sub-group no. 47: retail trade (except motor vehicles and motorcycles. Data used in the study is collected by the National Statistical Office, Thailand. The study consisted of four input factors include the number of companies, the number of personnel in logistics, the training cost in logistics, and outsourcing logistics management. Output factor includes the percentage of enterprises having inventory management. The results showed that the average relative efficiency of small-sized enterprises equals to 27.87 percent and 49.68 percent for the medium-sized enterprises.

Keywords: DEA, wholesales and retails, logistics, Thailand

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Authors: Sakapas Saengchai

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A Study on Strengthening the Security of the Thai-Myanmar Border Trade Area of the people in the Mae Sot customs checkpoint area, Tak province, was designed as a qualitative research study. Its objectives were to study the principles of strengthening border trade security and enhancing people's participation. To develop a border trade model that enhances the spatial economy and improves people's quality of life by collecting data using a participant observation method. In-depth interview group chats border checkpoint administrators, Mae Sot customs checkpoint, Tak province, private entrepreneurs, community leaders, and the opening of a community forum to exchange opinions with people in the area. The results of the study found that 1. Security development is to promote crime reduction. Reduce drug trafficking problems Smuggling and human trafficking have been reduced. Including planning and preparation to protect people from terrorism, epidemics, and communicable diseases, including cooperation with Burma on border rules for people and workers, 2. Wealth development is to promote investment. Transport links value chain logistics Cross-border goods and services on the Thai-Myanmar border Both amending regulations and laws to promote fair trade. Emphasis on convenient and fast service as well as promoting the Thai border area to be a tourist attraction that can create prosperity and income for the community in the area By using balanced natural resources, with production and consumption that are environmentally friendly, and emphasizes the participation of the public sector, the private sector, and people from all sectors in the sustainable development of the Thai border.

Keywords: security, border trade, customs, participation, people

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Authors: Napatsorn Suput-Anyaporn

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This paper aimed to investigate multilateral relationships across the factors which included labor shortage, trade union, turnover rate of employee, labor law and regulation, and effectiveness of foreign worker administration in the scope of foreign workers in the industrial manufacturing sector of Thailand. The research employed both quantitative and qualitative approaches, in which foreign workers from Myanmar, Laos and Cambodia in the industrial manufacturing sector in selected areas of Thailand were sampled for the quantitative data collection, and persons in the chief executive management and the supervisor levels, and persons in the academic area in relation with foreign workers were selected as the sample for the qualitative data collection method. Thus, a questionnaire, in-depth interview and focus group were utilized as tools in this research paper. The discussion placed an emphasis on the fact that Thailand should design more effective law and regulations for the foreign workers administration and management in response to preparing for the coming ASEAN Economic Community with the declaration of the free- flow labor movement policy.

Keywords: industrial manufacturing sector, labor law and regulation, labor shortage, migrant worker, trade union, turnover rate of employee

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Authors: Jang-Hwan Jo

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The supply management of ecosystem services of local forests is an essential issue as it is linked to the ecological welfare of local residents. This study aims to estimate the supply, trade-offs, and synergies of local forest regulating ecosystem services using a land cover classification map (LCCM) and a forest types map (FTM). Rigorous literature reviews and Expert Delphi analysis were conducted using the detailed variables of 1:5,000 LCCM and FTM. Land-use scoring method and Getis-Ord Gi* Analysis were utilized on detailed variables to propose a method for estimating supply, trade-offs, and synergies of the local forest regulating ecosystem services. The analysis revealed that the rank order (1st to 5th) of supply of regulating ecosystem services was Erosion prevention, Air quality regulation, Heat island mitigation, Water quality regulation, and Carbon storage. When analyzing the correlation between defined services of the entire city, almost all services showed a synergistic effect. However, when analyzing locally, trade-off effects (Heat island mitigation – Air quality regulation, Water quality regulation – Air quality regulation) appeared in the eastern and northwestern forest areas. This suggests the need to consider not only the synergy and trade-offs of the entire forest between specific ecosystem services but also the synergy and trade-offs of local areas in managing the regulating ecosystem services of local forests. The study result can provide primary data for the stakeholders to determine the initial conditions of the planning stage when discussing the establishment of policies related to the adjustment of the supply of regulating ecosystem services of the forests with limited access. Moreover, the study result can also help refine the estimation of the supply of the regulating ecosystem services with the availability of other forms of data.

Keywords: ecosystem service, getis ord gi* analysis, land use scoring method, regional forest, regulating service, synergies, trade-offs

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Authors: Emmanuel Dele Balogun

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This paper analyzes, using descriptive statistics and econometrics data which span the period 1981 to 2014 to gauge the effects of trade policy incentives on economic growth in Nigeria. It argues that the provided incentives penalize economic growth during pre-trade liberalization eras, but stimulated a rapid increase in total factor productivity during the post-liberalization period of 2000 to 2014. The trend analysis shows that Nigeria maintained high tariff walls in economic regulation eras which became low in post liberalization era. The protections were in favor of infant industries, which were mainly appendages of multinationals but against imports of competing food and finished consumer products. The trade openness index confirms the undue exposure of Nigeria’s economy to the vagaries of international market shocks; while banking sector recapitalization and new listing of telecommunications companies deepened the financial markets in post-liberalization era. The structure of economic incentives was biased in favor of construction, trade and services, but against the real sector despite protectionist policies. Total Factor Productivity (TFP) estimates show that the Nigerian economy suffered stagnation in pre-liberalization eras, but experienced rapid growth rates in post-liberalization eras. The regression results relating trade policy incentives to TFP growth rate yielded a significant but negative intercept suggesting that a non-interventionist policy could be detrimental to economic progress, while protective tariff which limits imports of competing products could spur productivity gains in domestic import substitutes beyond factor growth with market liberalization. The main constraint to the effectiveness of trade policy incentives is the failure of benefiting industries to leverage on the domestic factor endowments of the nation. This paper concludes that there is the need to review the current economic transformation strategies urgently with a view to provide policymakers with a better understanding of the most viable options that could make for rapid success.

Keywords: economic growth, macroeconomic incentives, total factor productivity, trade policies

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Authors: Sanpetchuda Krutkrua, Suphawatchara Malanond

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Throughout the history of Antitrust regimes in Thailand, Thailand has been trying to prevent collusive practices in the market through the amendments of the Trade Competition Act, and Thailand just passed the current Trade Competition Act of B.E. 2560 in 2017 of which several aspects of the law were amended in order to enhance the prevention of collusive outcome through both vertical trade restraints and horizontal trade restraints. An agreement is vertical when it involves arrangements that are in a complementary relationship. In Section 55 of the Act, any agreements to reduce the price, quantity, or quality of the goods, agreements to assign a sole retailer for the goods, and the agreement to impose conditions on the retailers are not allowed. However, Section 56 provides exemptions for the vertical relationship between the business operators, the franchise agreement, and the licensing agreement as long as such agreements do not surpass the necessity to do so, create monopolization, or affect the consumers in terms of price, quality, quantity, or options. The paper aims to explore the extent of the exemption under Section 56 and sequential regulations in terms of the vertical trade restraints regarding intellectual property licensing, and, at the same time, compare with the exemptions under the European Union competition law, and Singapore competition law. Comparative legal analysis with leading jurisdiction will illustrate the application of the newly enacted Thai Competition Act in terms of its enforcement in the global impact of IP rights, which, by nature are de jure or de facto international protection.

Keywords: antitrust, competition law, vertical restraint, intellectual property, IP licensing

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Authors: Mohammed Isah Shehu

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This paper examined the context of globalization and Islam and accommodation or containment of one by the other. The paper is born out of the misconception and misunderstanding among many people that globalization is purely Western, anti-Islam and that Islam, globalization and Islam are diametrically opposed as such have no places for accommodating each other. The study used secondary sources to gather data. The study found that from its origin, Islam is in the whole context, a globalized religion and the contemporary globalization is already contained by Islam; that while contemporary globalization is centered on Western world, values and preferences (Western civilization, information and communication technology, free markets, trade and investments); some of the major foundation works that are aiding globalization were originally handiworks of past great Muslims (Islamic civilizations, Order of Algebra, tools of Navigation, Calligraphy, Medicine, Astronomy et cetera) whose major values are not Islamic; with globalization the Muslims have greater opportunities of spreading of Islam and practicing it in a most conducive atmosphere, easy and fast linkage with their fellow Muslim brothers wherever they may be; easier and freer world of trade and have the best opportunities to most things. The study however observed that Western contemporary globalization poses threats to religions such as those of globalization of immorality, injustice, trade with anti-Islamic terms and conditions, internationalized crime et cetera. Muslims would have to avoid or be cautious of many things for Islam is a complete religion that has what is forbidden and allowed (halaal and haramm) based on principles of (Shariah, justice to all, humanity and compassion, obedience to and seeking Allah’s pleasure); to Muslims, Contemporary globalization has to be in conformity with original provisions of Islam. The study recommended that Muslims must rise up in seeking knowledge on Islam and all other fields, further intellectual explorations of works by Muslim scholars/thinkers so that any advancement in globalization would be properly domesticated within Islam for the Muslims to make optimum use of any advancement to the benefit of Islam.

Keywords: accommodation, containment, Islam, globalization

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Authors: Arunas Burinskas, Manuela Tvaronavičienė

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Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms.

Keywords: market, structure, simulation, heterogenous firms

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Authors: Fernando Seabra, Giulia P. Flores, Karolina C. Gomes

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Trade liberalizations measures, as import tariff cuts, are not a sufficient trigger for trade growth. Given that price margins are narrow, traders and cargo operators tend to opt out of markets where the process of goods clearance is slow and costly. Excess paperwork and slow customs dispatch not only lead to institutional breakdowns and corruption but also to increasing transaction cost and trade constraints. The objective of this paper is, therefore, two-fold: First, to evaluate the relationship between institutional and infrastructural performance indexes and trade growth in container throughput; and, second, to investigate the causes for differences in container demurrage and detention fees in Latin American countries (using other emerging countries as benchmarking). The analysis is focused on manufactured goods, typically transported by containers. Institutional and infrastructure bottlenecks and, therefore, the country logistics efficiency – measured by the Logistics Performance Index (LPI, World Bank-WB) – are compared with other indexes, such as the Doing Business index (WB) and the Corruption Perception Index (Transparency International). The main results based on the comparison between Latin American countries and the others emerging countries point out in that the growth in containers trade is directly related to LPI performance. It has also been found that the main hypothesis is valid as aspects that more specifically identify trade facilitation and corruption are significant drivers of logistics performance. The exam of port efficiency (demurrage and detention fees) has demonstrated that not necessarily higher level of efficiency is related to lower charges; however, reductions in fees have been more significant within non-Latin American emerging countries.

Keywords: corruption, logistics performance index, container throughput, Latin America

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Authors: Hemalatha Ganapathyswamy, Thirukkumar Subramani

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Celiac disease is an autoimmune response to dietary wheat gluten. Gluten is the main structure forming protein in bread and hence developing gluten-free bread is a technological challenge. The study aims at using nonwheat flours like barnyard millet and lentil flour to replace wheat in bread formulations. Other characteristics of these grains, such as high protein, soluble fiber, mineral content and bioactive components make them attractive alternatives to traditional gluten-free ingredients in the production of high protein, gluten-free bread. The composite flour formulations for the development of gluten-free bread were optimized using lentil flour (50 to 70 g), barnyard millet flour (0 to 30 g) and corn flour (0 to 30 g) by means of response surface methodology with various independent variables for physical, sensorial and nutritional characteristics. The optimized composite flour which had a desirability value of 0.517, included lentil flour –62.94 g, barnyard millet flour– 24.34 g and corn flour– 12.72 g with overall acceptability score 8.00/9.00. The optimized gluten-free bread formulation had high protein (14.99g/100g) and fiber (1.95g/100g) content. The glycemic index of the gluten-free bread was 54.58 rendering it as low glycemic which enhances the functional benefit of the gluten-free bread. Since the standardised gluten-free bread from barnyard millet and lentil flour are high protein, and gluten-free with low glycemic index, the product would serve as an ideal therapeutic food in the management of both celiac disease and diabetes mellitus with better nutritional value.

Keywords: gluten free bread, lentil, low glycemic index, response surface methodology

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Authors: Laila Ozola, Evita Straumite

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Celiac disease is a permanent enteropathy caused by the ingestion of gluten, a protein occurring in wheat, rye and barley. The only way of the effective daily treatment is a strict gluten-free diet. From the investigation of products available in the local market, it was found that Latvian producers do not offer gluten-free products. The aim of this research was to study and analyze changes of celiac patient’s attitude to gluten-free product quality and availability in the Latvian market and purchasing habits. The survey was designed using website www.visidati.lv, and a questionnaire was sent to people suffering from celiac disease. The first time the respondents were asked to fill in the questionnaire in 2011, but now repeatedly from the beginning of September 2013 till the end of January 2014. The questionnaire was performed with 75 celiac patients, respondents were from all Latvian regions and they answered 16 questions. One of the most important questions was aimed to find out consumers’ opinion about quality of gluten-free products, consumption patterns of gluten-free products, and, moreover, their interest in products made in Latvia. Respondents were asked to name gluten-free products they mainly buy and give specific purchase locations, evaluate the quality of products and necessity for products produced in Latvia. The results of questionnaire show that the consumers are satisfied with the quality of gluten-free flour, flour blends, sweets and pasta, but are not satisfied with the quality of bread and confectionery available in the Latvian markets.

Keywords: consumers, gluten-free products, quality, survey

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Authors: Amin Eslami, Jafar Bolouri Bazaz

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Excavation and retaining walls are of challenging issues in civil engineering. In this study, the behavior of one the important type of supporting systems called Contiguous Bored Pile (CBP) retaining wall is investigated using a physical model. Besides, a comparison is made between two modes of free end piles(soft bed) and fixed end piles (stiff bed). Also a back calculation of effective length (the real free length of pile) is done by measuring lateral deflection of piles in different stages of excavation in both a forementioned cases. Based on observed results, for the fixed end mode, the effective length to free length ratio (Leff/L0) is equal to unity in initial stages of excavation and less than 1 in its final stages in a decreasing manner. While this ratio for free end mode, remains constant during all stages of excavation and is always less than unity.

Keywords: contiguous bored pile wall, effective length, fixed end, free end, free length

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Authors: Angelo Vintaloro

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Recent discoveries in territory never studied have given a different reading of Sicilian prehistory with the acquisition of important data on the penetration of the Minoan and Mycenaean colonization and on trade in the center-west of Sicily. The large settlement of Montagna Vecchia, in the territory of Corleone, has typical components starting from the Neolithic and was located along the road from Palermo to Agrigento, which connected the southern coast to the northern one. It was already the most important trade route on the island, as it represented a portion of the long North African/South French trade route, from the Campaniform period, at the beginning of the second millennium BC, through the mediation of the islands of Sicily, Sardinia, and Corsica. Years ago, it seemed that this colonization had stopped in south-eastern Sicily, but these recent discoveries changed the situation and gave us the confirmation that many peoples contributed to giving a permanent presence to this territory. Some areas of probable sacred destination have also been identified, closely linked to the subsequent Hellenic colonization of Sicily.

Keywords: corleone, vecchia, preistoria, ellenismo

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Authors: Magid Maatallah

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The problem is, investment management in modern conditions boils down to risk management which is very underdeveloped in Islamic financial theory and practice. Add to this the fact that, in Islamic perception, this is one of the areas of conventional finance in need of drastic reforms. This need was recently underlined by the story of Long Term Capital Management (LTCM ), ( told by Roger Lowenstein in his book, When Genius Failed, Random House, 2000 ). So we face a double challenge, to develop Islamic techniques of risk management and to see that these new techniques are free from the ills with which conventional methods are suffering. This is different from the challenge faced in the middle of twentieth century, to develop a method of financial intermediation free of interest.Risk was always there, especially in business. But industrialization brought risks unknown in trade and agriculture. Industrial production often involves long periods of time .The longer the period of production the more the uncertainty. The scope of the market has expanded to cover the whole world, introducing new kinds of risk. More than a thousand years ago, when Islamic laws were being written, the nature and scope of risk and uncertainty was different. However, something can still be learnt which, in combination with the modern experience, should enable us to realize the Shariah objectives of justice, fairness and efficiency.

Keywords: financial markets, Islamic framework, risk management, investment

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Authors: Asyraf Abdul Halim, Mohd Edil Abd Sukor, Obiyathulla Ismath Bacha

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This paper attempts to investigate the capital structure behavior of Shariah compliant firms of various levels as well those firms who are consistently Shariah non-compliant in Malaysia. The paper utilizes a unique dataset of firms of the heterogeneous level of Shariah-compliancy status over a 20 year period from the year 1997 to 2016. The paper focuses on the effects of dynamic forces behind capital structure variation such as the optimal capital structure behavior based on the trade-off, pecking order, market timing and firmly fixed effect models of capital structure. This study documents significant evidence in support of the trade-off theory with a high speed of adjustment (SOA) as well as for the time-invariant firm fixed effects across all Shariah compliance group.

Keywords: capital structure, market timing, trade-off theory, equity risk premium, Shariah-compliant firms

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Authors: Abderahman Efhialelbum

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The period since the fall of the Berlin Wall on November 9, 1989, and the collapse of the former Soviet Union in December 1985 has seen a major change in the economies and labour markets of Eastern Europe. The events also had reverberating effects across Asia and South America and parts of Africa, including Libya. This article examines the typologies and the models of transition economies. Also, it sheds light on the Libyan transition in particular and the impact of Qadhafi’s regime on the transition process. Finally, it illustrates how the Libyan transition process followed the trajectory of other countries using economic indicators such as free trade, property rights, and inflation.

Keywords: transition, economy, typology, model, Libya

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Authors: Chanunya Fahwan, Supat Chaiyakul

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A lactose-free diet is imperative for those with lactose intolerance and experiencing milk intolerance. This entails eliminating milk-based products, which may result in dietary and nutritional challenges and the main problems of Lactose hydrolyzed milk powder during production were the adhesion in the drying chamber and low-yield and low-quality powder. The use of lactose-free milk to produce lactose-free milk powder was studied here. Development of two milk powder formulas from cow's milk and lactose-free cow's milk by using a substitute for maltodextrin, Polydextrose (PDX), Resistant Starch (RS), Cellobiose (CB), and Resistant Maltodextrin (RMD) to improve quality and reduce the glycemic index from maltodextrin, which are carriers that were used in industry at three experimental levels 10%, 15% and 20% the properties of milk powder were studied such as color, moisture content, percentage yield (%yield) and solubility index. The experiment revealed that prebiotic carriers could replace maltodextrin and improve quality, such as solubility and percentage yield, and enriched nutrients, such as dietary fiber. CB, RMD, and PDX are three possible carriers, which are applied to both regular cow's milk formula and lactose-free cow milk.

Keywords: lactose-free milk powder, prebiotic carrier, co-particle, glycemic index

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Authors: Xiaohong Li

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Redox flow batteries (RFBs) are seen as a promising energy storage technology for grid-scale applications since RFBs possess flexibility, fast response, and safe operation but are not dependent on geographical factors and do not involve enormous capital investment. RFB systems featuring different redox couples have been studied, tested, and demonstrated at varied scales around the world within the last three decades. However, cost-effectiveness has remained a challenge to RFBs in practice. Membrane-free RFB systems utilize a single electrolyte and, therefore, no need for membranes, which enables systems to simplify the design significantly, reduce cost, and ease maintenance. A number of membrane-free RFB systems have been proposed and reported since 2004. This presentation provides an overview of membrane-free RFB technology and chooses three examples, namely soluble lead-acid, zinc nickel, and hydrogen bromine systems, to demonstrate key features, chemistry, progress and technical challenges in the membrane-free RFB systems.

Keywords: energy storage, redox flow battery, membrane-free redox flow battery, fuel cells

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Authors: V. S. S. Kumar, B. Vikram, G. C. S. Reddy

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Time and cost are the two critical objectives of construction project management and are not independent but intricately related. Trade-off between project duration and cost are extensively discussed during project scheduling because of practical relevance. Generally when the project duration is compressed, the project calls for an increase in labor and more productive equipments, which increases the cost. Thus, the construction time-cost optimization is defined as a process to identify suitable construction activities for speeding up to attain the best possible savings in both time and cost. As there is hidden tradeoff relationship between project time and cost, it might be difficult to predict whether the total cost would increase or decrease as a result of compressing the schedule. Different combinations of duration and cost for the activities associated with the project determine the best set in the time-cost optimization. Therefore, the contractors need to select the best combination of time and cost to perform each activity, all of which will ultimately determine the project duration and cost. In this paper, the fuzzy set theory is used to model the uncertainties in the project environment for time-cost trade off analysis.

Keywords: fuzzy sets, uncertainty, qualitative factors, decision making

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Authors: Nizika Sorokhaibam

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With the collapse of the Soviet Union in 1989, that marked the end of the prolonged struggle of ideologies between capitalism of the United States of America and communism of the Soviet Union, the world entered a new era of free markets, trade and economic liberalization. Through analysis of various literatures on North Korea, this study focuses on the impact of Globalization on North Korea- its people, economy and the regime. The study also takes a glance at the Juche ideology, which was crafted by the Supreme Leader Kim Il Sung, for the people of DPRK and its role and influence in shaping the North Korean economy. The new buzz word being Globalization, as businesses started to expand on international scale, demanding the need for co-operation, connectivity and interdependence of countries around the world. States tilted their focus towards industrialization, production of raw materials, production of goods to meet the growing demands and grabbing markets for the manufactured products. This became the norm as many newly independent countries adopted democracy and aligned their views with globalization processes. Socialist and communist regimes either fell one after the other to join the globalization trend or reformed their economic system to meet the globalization trends. However, even after staying isolated for more than six decades, Democratic People’s Republic of Korea, the Hermit Kingdom, refuses to open up its economy to the globalised world. North Korean regime still controls all the sectors of the country and no trade and investment freedom is given to the people. North Korea vigorously makes efforts to emphasize on its Juche ideology of self-sustenance and self-reliance to keep away from actively engaging in global trade and process of globalization, which they refer to as “Americanization” of the world. Nevertheless, the reality is that North Korea’s economy is not self sustained and is collapsing from within, which led them to solicit foreign aid from the United States of America, South Korea (Republic of Korea) and People’s Republic of China. The regime needs to implement reforms and make adjustments for the economy to survive in the competing world.

Keywords: economic globalization, economic isolation, Juche, North Korea

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Authors: Jasmine H. Gagnon

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The present study examined how grandiose narcissists make adaptive trade-offs between mating investment, parenting investment, and somatic investment relative to individuals without narcissistic personalities. A sample of 509 males and females between the ages of 24 and 35 years old (49.31% female) completed a personality inventory assessing Honesty-Humility, Emotionality, Extraversion, Agreeableness, Conscientiousness, and Openness to Experience. In a Latent Profile Analysis (LPA), personality inventory scores were used to classify participants into latent groups. The model of best fit identified one grandiose narcissist group and three groups with non-narcissistic personalities. Covariate analyses revealed that individuals with narcissistic traits made significantly more significant somatic investments in comparison to two of the three non-narcissistic latent groups. No other significant differences between the narcissistic and non-pathological groups were found. Thus, grandiose narcissists trade off parenting and mating investments to make more significant somatic investments. That is, they expend a larger portion of their energetic resources on maintaining their physical health and careers and similar quantities of energetic resources on maintaining relationships with their offspring and potential romantic partners as individuals without narcissistic personalities.

Keywords: narcissism, grandiose narcissism, HEXACO, trade-offs, mating, parenting, somatic, dark triad

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Authors: Thinh Huu Nguyen, Shahab Sharfaei, Jindřich Soukup

Abstract:

In the pursuit of reducing production costs, offshoring has been a major trend throughout global value chains for many decades. However, with the rise of advanced technologies, new opportunities to automate their production are changing the motivation of multinational firms to go offshore. Instead, many firms are working to relocate their offshored activities from developing economies back to their home countries. This phenomenon, known as reshoring, has recently garnered much attention as it becomes clear that automation in advanced countries might have major implications not only on their own economies but also through international trade on the economy of low-income countries, including their labor market outcomes and their comparative advantages. Thus, while using robots to substitute human labor may lower the relative costs of producing at home, it has the potential to decrease employment and demand for exports from developing economies through reshoring. In this paper, we investigate the recent literature to provide a further understanding of the relationships between robotization and the reshoring of production. Moreover, we analyze the impact of robot adoption on international trade in both developed and emerging markets. Finally, we identify the research gaps and provide avenues for future research in international economics. This study is a part of the project funded by the Internal Grant Agency (IGA) of the Faculty of Business Administration, Prague University of Economics and Business.

Keywords: automation, robotization, reshoring, international trade

Procedia PDF Downloads 74

Authors: Tran Van Long

Abstract:

Beyond trade facilitation, transparency in the WTO legal context is, implicitly and explicitly, aimed at addressing problems in domestic administrative law. Through the lens of global governance, this paper attempts to shed more light on the power of transparency norms enshrined in multilateral trading agreements under the aegis of the WTO. In this global ruled-base system, transparency has become sufficiently powerful to be a multifunctional instrument for promoting rule of law, good governance, and democracy.

Keywords: WTO, transparency, good governance, rule of law, global administrative law.

Procedia PDF Downloads 245

Authors: Peter M. Maurer Maurer

Abstract:

DGL is a context free grammar-based tool for generating random data. Many types of simulator input data require some computation to be placed in the proper format. For example, it might be necessary to generate ordered triples in which the third element is the sum of the first two elements, or it might be necessary to generate random numbers in some sorted order. Although DGL is universal in computational power, generating these types of data is extremely difficult. To overcome this problem, we have enhanced DGL to include features that permit direct computation within the structure of a context free grammar. The features have been implemented as special types of productions, preserving the context free flavor of DGL specifications.

Keywords: DGL, Enhanced Context Free Grammars, Programming Constructs, Random Data Generation

Procedia PDF Downloads 118