Search results for: selective credit policy

Authors: Ming Luo

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In this real world, a manufacturer may produce more than one product. The products produced by the same manufacturer may share the same type of parts, similar design, and be produced in the same factory, i.e. some common causes. From the perspective of warranty management, the frequencies of those products’ warranty claims may have statistical dependence caused by the common causes. Warranty policy optimisation in the existing research, majorly, has not considered such dependence, which may increase bias in decision making. In the market, renewing warranty policies are provided to some unrepairable products and consumer electronic products. This paper optimises the renewing warranty policy collectively in a multi-product scenario with a consideration of the dependence among the warranty claims of the products produced by the same manufacturer. The existence of the optimal solution is proved. Numerical examples are used to validate the applicability of the proposed methods.

Keywords: mean-risk framework, modern portfolio theory, renewing warranty policy, warranty policy optimisation

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Authors: Dina Mohamed Ayman, Rafieu Akin

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In an attempt to increase the female total entrepreneurial activities (TEA) within Egypt and Nigeria, this paper aims to investigate the challenges facing female entrepreneurs operating in Egypt, in relative to Nigeria. In this regard, both researchers undertook a qualitative approach due to the scarcity of the literature reviewed on the topic; in those particular countries, and as an in-depth comparative mode. Therefore, ten Egyptian entrepreneurs in relative to ten Nigerian entrepreneurs were in-depth investigated. The research findings prove that female entrepreneurs face complex problems for being both gender and country-specific. Regarding the gender-specific obstacles, the work/life imbalance due to the scarcity of child-care nurseries and the prevalence of the gender-role division while performing the house chores rather than the concept of co-operation, acted as a main source of cultural challenge because women are considered mostly as 'housewives'. However, interestingly, this specific gender-discrimination challenge is proven to have no grounded effect in terms of the business-establishment and daily dealings neither in Egypt nor Nigeria, as one of the sample exclaimed 'as long as you pay, then no gender difference is set on the table'. Other country-specific challenges facing female entrepreneurs, lied in, the aggregate weak entrepreneurial framework governing both countries, also, women faced the difficulty of access to financial institutions with collateral requirements that are usually "hardly to be met", besides, the absence of the "micro-credit-Grameen-banks" concept. As well, the scarcity of incubators and business training centers providing network, consultancy and well-trained workforce to female entrepreneurs constitute a major hurdle for women entrepreneurs operating in both countries. Finally, this paper will conclude the research by offering a set of public-policy recommendations to pave the way for females to choose self-employment as a career path.

Keywords: entrepreneurship, female entrepreneurship, obstacles, framework conditions, culture, micro-credit

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Authors: S. K. Ashiquer Rahman

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The proper policy handling might not able to attain the target since some of recessions, e.g., pandemic-led crises, the variables shocks of the economics. At the level of this situation, the Central bank implements the monetary policy to choose increase the exogenous expenditure and level of money supply consecutively for booster level economic growth, whether the monetary policy is relatively more effective than fiscal policy in altering real output growth of a country or both stand for relatively effective in the direction of output growth of a country. The dispute with reference to the relationship between the monetary policy and fiscal policy is centered on the inflationary penalty of the shortfall financing by the fiscal authority. The latest variables socks of economics as well as the pandemic-led crises, central banks around the world predicted just about a general dilemma in relation to increase rates to face the or decrease rates to sustain the economic movement. Whether the prices hang about fundamentally unaffected, the aggregate demand has also been hold a significantly negative attitude by the outbreak COVID-19 pandemic. To empirically investigate the effects of economics shocks associated COVID-19 pandemic, the paper considers the effectiveness of the monetary policy and fiscal policy that linked to the adjustment mechanism of different economic variables. To examine the effects of economics shock associated COVID-19 pandemic towards the effectiveness of Monetary Policy and Fiscal Policy in the direction of output growth of a Country, this paper uses the Simultaneous equations model under the estimation of Two-Stage Least Squares (2SLS) and Ordinary Least Squares (OLS) Method.

Keywords: IS-LM framework, pandemic. Economics variables shocks, simultaneous equations model, output growth

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Authors: Temesgen Yaekob Ergano, Sure Pulla Rao

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The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively.

Keywords: financial development, economic growth, Sub-Saharan Africa, system GMM analysis, financial indicators.

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Authors: P. Krachodnok

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In this paper, the design of a multiple U-slotted microstrip patch antenna with frequency selective surface (FSS) as a superstrate for WLAN and WiMAX applications is presented. The proposed antenna is designed by using substrate FR4 having permittivity of 4.4 and air substrate. The characteristics of the antenna are designed and evaluated the performance of modelled antenna using CST Microwave studio. The proposed antenna dual resonant frequency has been achieved in the band of 2.37-2.55 GHz and 3.4-3.6 GHz. Because of the impact of FSS superstrate, it is found that the bandwidths have been improved from 6.12% to 7.35 % and 3.7% to 5.7% at resonant frequencies 2.45 GHz and 3.5 GHz, respectively. The maximum gain at the resonant frequency of 2.45 and 3.5 GHz are 9.3 and 11.33 dBi, respectively.

Keywords: multi-slotted antenna, microstrip patch antenna, frequency selective surface, artificial magnetic conduction

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Authors: Mahalakshmi Vivekanandan S.

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As per the recent changes happening in the global policies, climate-related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate-related changes can often happen and lead to risk and a lot of uncertainty, but needs to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed so that the financial institutions can plan to mitigate it. Climate-related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and other risk types. And the models required to compute this has to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out the suggestion that the climate-related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, the author presents a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios and how the different transition risks affect the risk associated with the different parties. This research paper delves into the topic of the increase in the concentration of greenhouse gases that in turn cause global warming. It then considers the various scenarios of having the different risk drivers impacting the Credit and market risk of an institution by understanding the transmission channels and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: the automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II Capital calculations and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.

Keywords: capital calculation, climate risk, credit risk, pillar ii risk, scenario modeling

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Authors: Saeed Poormoaied, Zumbul Atan

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Emergency shipments provide a powerful mechanism to alleviate the risk of imminent stock-outs and can result in substantial benefits in an inventory system. Customer satisfaction and high service level are immediate consequences of utilizing emergency shipments. In this paper, we consider a single-echelon periodic review inventory system consisting of a single local warehouse, being replenished from a central warehouse with ample capacity in an infinite horizon setting. Since the structure of the optimal policy appears to be complicated, we analyze this problem under an order-up-to-S inventory control policy framework, the (S, T) policy, with the emergency shipment consideration. In each period of the periodic review policy, there is a single opportunity at any point of time for the emergency shipment so that in case of stock-outs, an emergency shipment is requested. The goal is to determine the timing and amount of the emergency shipment during a period (emergency shipment policy) as well as the base stock periodic review policy parameters (replenishment policy). We show that how taking advantage of having an emergency shipment during periods improves the performance of the classical (S, T) policy, especially when fixed and unit emergency shipment costs are small. Investigating the structure of the objective function, we develop an exact algorithm for finding the optimal solution. We also provide a heuristic and an approximation algorithm for the periodic review inventory system problem. The experimental analyses indicate that the heuristic algorithm is computationally more efficient than the approximation algorithm, but in terms of the solution efficiency, the approximation algorithm performs very well. We achieve up to 13% cost savings in the (S, T) policy if we apply the proposed emergency shipment policy. Moreover, our computational results reveal that the approximated solution is often within 0.21% of the globally optimal solution.

Keywords: emergency shipment, inventory, periodic review policy, approximation algorithm.

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Authors: Faisal A. Salih

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Verapamil hydrochloride (Ver) is a drug used in medicine for arrythmia, angina and hypertension as a calcium channel blocker. For the quantitative determination of Ver in dosage forms, the HPLC method is most often used. A convenient alternative to the chromatographic method is potentiometry using a Verselective electrode, which does not require expensive equipment, can be used without separation from the matrix components, which significantly reduces the analysis time, and does not use toxic organic solvents, being a "green", "environmentally friendly" technique. It has been established in this study that the rational choice of the membrane plasticizer and the preconditioning and measurement algorithms, which prevent nonexchangeable extraction of Ver into the membrane phase, makes it possible to achieve excellent analytical characteristics of Ver-selective electrodes based on commercially available components. In particular, an electrode with the following membrane composition: PVC (32.8 wt %), ortho-nitrophenyloctyl ether (66.6 wt %), and tetrakis-4-chlorophenylborate (0.6 wt % or 0.01 M) have the lower detection limit 4 × 10−8 M and potential reproducibility 0.15–0.22 mV. Both direct potentiometry (DP) and potentiometric titration (PT) methods can be used for the determination of Ver in tablets and injection solutions. Masses of Ver per average tablet weight determined by the methods of DP and PT for the same set of 10 tablets were (80.4±0.2 and80.7±0.2) mg, respectively. The masses of Ver in solutions for injection, determined by DP for two ampoules from one set, were (5.00±0.015 and 5.004±0.006) mg. In all cases, good reproducibility and excellent correspondence with the declared quantities were observed.

Keywords: verapamil, potentiometry, ion-selective electrode, pharmaceutical analysis

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Authors: Thanomsin Chakreeves, Atichat Preittigun, Ajchara Phu-ang

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This paper presents a stakeholder analysis of agricultural drone policies that meet the government's goal of building an agricultural drone ecosystem in Thailand. Firstly, case studies from other countries are reviewed. The stakeholder analysis method and qualitative data from the interviews are then presented including data from the Institute of Innovation and Management, the Office of National Higher Education Science Research and Innovation Policy Council, agricultural entrepreneurs and farmers. Study and interview data are then employed to describe the current ecosystem and to guide the implementation of agricultural drone policies that are suitable for the ecosystem of Thailand. Finally, policy recommendations are then made that the Thai government should adopt in the future.

Keywords: drone public policy, drone ecosystem, policy development, agricultural drone

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Authors: Kien Xuan Ngo

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Cassiicolin (Cas), a toxin produced by Corynespora cassiicola, is responsible for corynespora leaf fall (CLF) disease in rubber trees. Currently, the molecular mechanism of the cytotoxicity of Cas isoforms (i.e., Cas1, Cas2) on rubber leaves and its host selectivity have not been fully elucidated. This study analyzed the binding of Cas1 and Cas2 to membranes consisting of different plant lipids and their membrane-disruption activities. Using high-speed atomic force microscopy and confocal microscopy, this study reveals that the binding and disruption activities of Cas1 and Cas2 on lipid membranes are strongly dependent on the specific plant lipids. The negative phospholipids, glycerolipids, and sterols are more susceptible to membrane damage caused by Cas1 and Cas2 than neutral phospholipids and betaine lipids. In summary, This study unveils that (i) Cas1 and Cas2 directly damage and cause necrosis in the leaves of specific rubber clones; (ii) Cas1 and Cas2 can form biofilm-like structures on specific lipid membranes (negative phospholipids, glycerolipids, and sterols). The biofilm-like formation of Cas toxin plays an important role in selective disruption on lipid membranes; (iii) Vulnerability of the specific cytoplasmic membranes to the selective Cas toxin is the most remarkable feature of cytotoxicity of Cas toxin on plant cells. Finally, researcher’s exploration is crucial to understand the basic molecular mechanism underlying the host-selective toxic interaction of Cas toxin with cytoplasmic membranes in plant cells.

Keywords: cassiicolin, corynespora leaf fall disease, high-speed AFM, giant liposome vesicles

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Authors: M. S. Hasni, J. Guan, K. Yakimchuk, M. Berglund, B. Sander, G. Enblad, R. M. Amini, S. Okret

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Lymphomas are generally not considered as endocrine-related cancers. However, most lymphoid malignancies show gender differences in incidence and show prognosis with males being more affected. Furthermore, some epidemiological data indicate a protective role of estrogens against Non-Hodgkin lymphomas. Recent studies have demonstrated estrogen receptor β (ERβ) to be the major ER expressed in normal and malignant cells of lymphoid origin. We have analyzed the effects of estradiol and selective ERα and ERβ agonists on lymphoma growth in culture and in vivo. Treating lymphoma cells with estradiol or ERα selective agonist had minor or no effect on cell growth while selective ERβ agonist treatment showed an antiproliferative effect. When grafting mice with murine T lymphoma cells, male mice developed larger tumors compared to female mice, a difference that was abolished following ovariectomy, demonstrating estrogen-dependent growth in vivo. When subcutaneously grafting lymphoma cells to mice, so far growth of all tested human B lymphoma tumors (Raji and Ramos Burkitt lymphoma, SU.DHL4 (GC) and U2932 (ABC) DLBCL, Granta-519, Maver1 and Z138 MCL cells), were reduced following treatment with ERβ selective agonist (ref. 2 and unpublished). Moreover, the number and size of liver foci of disseminating Raji cells was reduced. We have identified target genes and mechanism that could explain the above effects of ERβ agonists. This included effects on angio and lymphangiogenesis. Now we have further analyzed effects of ERβ agonists on Ibrutinib-sensitive and -insensitive MCL cells in xenograft experiments as well as ERβ expression in primary lymphoma material (DLBCL). Preliminary statistical analysis has been done correlating ERβ expression to other biomarkers and clinical data.

Keywords: lymphomas, estrogen receptors, cancer, liver foci

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Authors: Aikaterini Tsalampouni

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The European Union has long been the most developed model of economic and political integration that has brought a common market, a common currency and a standardization of national policies in certain areas in consistent with EU values and principles. To this direction, there is a parallel process of social integration that effect public policy decisions of member states. Even though social policy, i.e. social protection and moreover healthcare policy, still remains in state's responsibility to develop, EU applies different mechanisms in order to influence health policy systems, since from a more federalist point of view, EU ought to expand its regulatory and legislative roles in as many policy areas as possible. Recently, the pandemic has become a turning point for health care provision and at the same time has also highlighted the need to strengthen the EU’s role in coordinating health care. This paper analyses the EU health policy in general, as well as the response to COVID-19 pandemic with an attempt to identify indications of interaction between EU policies and the promotion of sustainable and resilient health systems. More analytically, the paper investigates the EU binding legal instruments, non-binding legal instruments, monitoring and assessment instruments and instruments for co-financing concerning health care provision in member states and records the evolution of health policies before and during the COVID-19 pandemic. The paper concludes by articulating some remarks regarding the improvement of health policy in EU. Since the ability to deal with a pandemic depends on continuous and increased investment in health systems, the involvement of the EU can lead to a policy convergence, necessary for the resilience of the systems, maintaining at the same time, a strong health policy framework in Europe.

Keywords: EU health policy, EU response to COVID-19, European Health Union, health systems in Europe

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Authors: Yadav Shyamjeet Maniram

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Despite reports of more than seventy million population of India affected by rare diseases, it rarely figured on the agenda of the Indian scientist and policymakers. Hitherto ignored, a fresh initiative is being attempted to establish the first national registry for rare diseases. Though there are registries for rare diseases, established by the clinicians and patient advocacy groups, they are isolated, scattered and lacks information sharing mechanism. It is the first time that there is an effort from the government of India to make an initiative on the rare disease registries, which would be more formal and systemic in nature. Since there is lack of epidemiological evidence for the rare disease in India, it is interesting to note how rare disease policy is being attempted in the vacuum of evidence required for the policy process. The objective of this study is to analyse rare disease registry creation and implementation from the parameters of evolutionary policy perspective in the absence of evidence for the policy process. This study will be exploratory and qualitative in nature, primarily based on the interviews of stakeholders involved in the rare disease registry creation and implementation. Some secondary data will include various documents related to rare disease registry. The expected outcome of this study would be on the role of stakeholders in the generation of evidence for the rare disease registry creation and implementation. This study will also try to capture negotiations and deliberations on the ethical issues in terms of data collection, preservation, and protection.

Keywords: evolutionary policy perspective, evidence for policy, rare disease policy, rare disease in India

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Authors: Leila Jafari, Viliam Makis

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In this paper, the joint optimization of the economic manufacturing quantity (EMQ), safety stock level, and condition-based maintenance (CBM) is presented for a partially observable, deteriorating system subject to random failure. The demand is stochastic and it is described by a Poisson process. The stochastic model is developed and the optimization problem is formulated in the semi-Markov decision process framework. A modification of the policy iteration algorithm is developed to find the optimal policy. A numerical example is presented to compare the optimal policy with the policy considering zero safety stock.

Keywords: condition-based maintenance, economic manufacturing quantity, safety stock, stochastic demand

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Authors: Zhizhong Yuan, Lili Wang, Chenya Zheng, Wuqi Yang

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How to encourage and support peer-to-peer (P2P) network lending, and effectively monitor the risk of P2P network lending, has become the focus of the Chinese government departments, industrialists, experts and scholars in recent years. The reason is that this convenient online micro-credit service brings a series of credit risks and other issues. Avoiding the risks brought by the P2P network lending model, it can better play a benign role and help China's small and medium-sized private enterprises with vigorous development to solve the capital needs; otherwise, it will bring confusion to the normal financial order. As a form of financial services, P2P network lending has injected new blood into China's non-government finance in the past ten years, and has found a way out for idle funds and made up for the shortage of traditional financial services in China. However, it lacks feasible measures in credit evaluation and government supervision. This paper collects a large amount of data about P2P network lending of China. The data collection comes from the official media of the Chinese government, the public achievements of existing researchers and the analysis and collation of correlation data by the authors. The research content of this paper includes literature review; the current situation of China's P2P network lending development; the risk analysis of P2P network lending in China; the risk prevention strategy of P2P network lending in China. The focus of this paper is to try to find a specific program to strengthen supervision and avoid risks from the perspective of government regulators, operators of P2P network lending platform, investors and users of funds. These main measures include: China needs to develop self-discipline organization of P2P network lending industry and formulate self-discipline norms as soon as possible; establish a regular information disclosure system of P2P network lending platform; establish censorship of credit rating of borrowers; rectify the P2P network lending platform in compliance through the implementation of bank deposition. The results and solutions will benefit all the P2P network lending platforms, creditors, debtors, bankers, independent auditors and government agencies of China and other countries.

Keywords: peer-to-peer(P2P), regulation, risk prevention, supervision

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Authors: Hui Liu, Xiaozan Wang, Jiarong Zhong, Ziming Shao

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Introduction: Related research shows that students don’t concentrate on teacher’s speaking in the classroom. The d2 attention test is a time-limited test about selective attention. The d2 attention test can be used to evaluate individual selective attention. Purpose: To use the d2 attention test tool to measure the difference between the attention level of the experimental class and the control class before and after Brain-Break and to explore the effect of Brain-Break in the classroom on students' selective attention. Methods: According to the principle of no difference in pre-test data, two classes in the fourth- grade of Shenzhen Longhua Central Primary School were selected. After 20 minutes of class in the third class in the morning and the third class in the afternoon, about 3-minute Brain-Break intervention was performed in the experimental class for 10 weeks. The normal class in the control class did not intervene. Before and after the experiment, the d2 attention test tool was used to test the attention level of the two-class students. The paired sample t-test and independent sample t-test in SPSS 23.0 was used to test the change in the attention level of the two-class classes around 10 weeks. This article only presents results with significant differences. Results: The independent sample t-test results showed that after ten-week of Brain-Break, the missed errors (E1 t = -2.165 p = 0.042), concentration performance (CP t = 1.866 p = 0.05), and the degree of omissions (Epercent t = -2.375 p = 0.029) in experimental class showed significant differences compared with control class. The students’ error level decreased and the concentration increased. Conclusions: Adding Brain-Break interventions in the classroom can effectively improve the attention level of fourth-grade primary school students to a certain extent, especially can improve the concentration of attention and decrease the error rate in the tasks. The new sport's learning model is worth promoting

Keywords: cultural class, micromotor, attention, D2 test

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Authors: Steven Wright

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This paper argues that there is an opportunity for PCH to further expand its relevance within the Canadian policy context by taking advantage of the growing international trend of using social indicators for public policy evaluation. Within the mandate and vision of PCH, there is an incomplete understanding of the value that the arts and culture provide for Canadians, specifically with regard to four social indicators: community development, civic engagement, life satisfaction, and work-life balance. As will be shown, culture and the arts have a unique role to play in such quality of life indicators, and there is an opportunity for PCH to aid in the development of a comprehensive national framework that includes these indicators. This paper lays out approach to understanding how social indicators may be included in the Canadian context by first illustrating recent trends in policy evaluation on a national and international scale. From there, a theoretical analysis of the connection between cultural policy and social indicators is provided. The second half of the paper is dedicated to explaining the shortcomings of Canadian cultural policy evaluation in terms of its tendency to justify expenditures related to arts and cultural activities in purely economic terms, and surveying how other governments worldwide are leading the charge in this regard.

Keywords: social indicators, evaluation, cultural policy, arts

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Authors: Temesgen Geremew

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The excessive emission of heavy metal ions from industrial processes poses a serious threat to both the environment and human health. This study presents a distinct approach utilizing (PTh-MnS/CoS NPs) for the highly selective and sensitive detection of Hg²⁺ ions in water. Such detection is crucial for safeguarding human health, protecting the environment, and accurately assessing toxicity. The fabrication method employs a simple and efficient chemical precipitation technique, harmoniously combining polythiophene, MnS, and CoS NPs to create highly active substrates for SERS. The MnS@Hg²⁺ exhibits a distinct Raman shift at 1666 cm⁻¹, enabling specific identification and demonstrating the highest responsiveness among the studied semiconductor substrates with a detection limit of only 1 nM. This investigation demonstrates reliable and practical SERS detection for Hg²⁺ ions. Relative standard deviation (RSD) ranged from 0.49% to 9.8%, and recovery rates varied from 96% to 102%, indicating selective adsorption of Hg²⁺ ions on the synthesized substrate. Furthermore, this research led to the development of a remarkable set of substrates, including (MnS, CoS, MnS/CoS, and PTh-MnS/CoS) nanoparticles were created right there on SiO₂/Si substrate, all exhibiting sensitive, robust, and selective SERS for Hg²⁺ ion detection. These platforms effectively monitor Hg²⁺ concentrations in real environmental samples.

Keywords: surface-enhanced raman spectroscopy (SERS), sensor, mercury ions, nanoparticles, and polythiophene.

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Authors: Ratri Werdiningtyas, Yongping Wei, Andrew Western

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The status quo of social-ecological systems is the results of not only natural processes but also the accumulated consequence of policies applied in the past. Often water management objectives are challenging and are only achieved to a limited degree on the ground. In choosing water management approaches, it is important to account for current conditions and important differences due to varied histories. Since the mid-nineteenth century, Victorian water management has evolved through a series of policy regime shifts. The main goal of this research to explore and identify the stages of the evolution of the water policy instruments as practiced in Victoria from 1890-2016. This comparative historical analysis has identified four stages in Victorian policy instrument development. In the first stage, the creation of policy instruments aimed to match the demand and supply of the resource (reserve condition). The second stage begins after natural system alone failed to balance supply and demand. The focus of the policy instrument shifted to an authority perspective in this stage. Later, the increasing number of actors interested in water led to another change in policy instrument. The third stage focused on the significant role of information from different relevant actors. The fourth and current stage is the most advanced, in that it involved the creation of a policy instrument for synergizing the previous three focal factors: reserve, authority, and information. When considering policy in other jurisdiction, these findings suggest that a key priority should be to reflect on the jurisdictions current position among these four evolutionary stages and try to make improve progressively rather than directly adopting approaches from elsewhere without understanding the current position.

Keywords: policy instrument, policy transformation, socio-ecolgical system, water management

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Authors: Hamid Boustanifar, Geraldo Cerqueiro, María Fabiana Penas

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We exploit state-level changes in the amount of personal wealth individuals can protect under Chapter 7 to analyze the causal effect of debtor protection on income inequality. We find that an increase in state exemptions significantly increases inequality by reducing income for low-income individuals and by increasing income for high-income individuals. The increase in inequality is four times larger among the self-employed than among wage earners, and it is due mainly to a growing income gap between skilled (i.e., individuals with a college degree) and unskilled entrepreneurs. We also find that the employment rate of skilled entrepreneurs significantly increases, while the employment rate of unskilled wage earners falls. Our results are consistent with a recent literature that shows that higher exemptions redistribute credit from low-wealth to high-wealth entrepreneurs, affecting the performance of their businesses.

Keywords: debtor protection, credit markets, income inequality, debtor protection laws

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Authors: Xue Wang, Liwei Fan

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Renewable energy technology innovation is an important way to realize the energy transformation. Our government has issued a series of policies to guide and support the development of renewable energy. The implementation of these policies will affect the further development, utilization and technological innovation of renewable energy. In this context, it is of great significance to systematically sort out and evaluate the renewable energy technology innovation policy for improving the existing policy system. Taking the 190 renewable energy technology innovation policies issued during 2005-2021 as a sample, from the perspectives of policy issuing departments and policy keywords, it uses text mining and content analysis methods to analyze the current situation of the policies and conduct a semantic network analysis to identify the core issuing departments and core policy topic words; A PMC (Policy Modeling Consistency) index model is built to quantitatively evaluate the selected policies, analyze the overall pros and cons of the policy through its PMC index, and reflect the PMC value of the model's secondary index The core departments publish policies and the performance of each dimension of the policies related to the core topic headings. The research results show that Renewable energy technology innovation policies focus on synergy between multiple departments, while the distribution of the issuers is uneven in terms of promulgation time; policies related to different topics have their own emphasis in terms of policy types, fields, functions, and support measures, but It still needs to be improved, such as the lack of policy forecasting and supervision functions, the lack of attention to product promotion, and the relatively single support measures. Finally, this research puts forward policy optimization suggestions in terms of promoting joint policy release, strengthening policy coherence and timeliness, enhancing the comprehensiveness of policy functions, and enriching incentive measures for renewable energy technology innovation.

Keywords: renewable energy technology innovation, content analysis, policy evaluation, PMC index model

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Authors: Theodrose Sisay, Kindie Tesfaye, Mengistu Ketema, Nigussie Dechassa, Mezegebu Getnet

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Agriculture is a sector that is very vulnerable to the effects of climate change and contributes to anthropogenic greenhouse gas (GHG) emissions in the atmosphere. By lowering emissions and adjusting to the change, it can also help to reduce climate change. Utilizing Climate-Smart Agriculture (CSA) technology that can sustainably boost productivity, improve resilience, and lower GHG emissions is crucial. This study sought to identify the CSA technologies used by farmers and assess adoption levels and factors that influence them. In order to gather information from 384 smallholder farmers in the Great Rift Valley (GRV) of Ethiopia, a cross-sectional survey was carried out. Data were analysed using percentage, chi-square test, t-test, and multivariate probit model. Results showed that crop diversification, agroforestry, and integrated soil fertility management were the most widely practiced technologies. The results of the Chi-square and t-tests showed that there are differences and significant and positive connections between adopters and non-adopters based on various attributes. The chi-square and t-test results confirmed that households who were older had higher incomes, greater credit access, knowledge of the climate, better training, better education, larger farms, higher incomes, and more frequent interactions with extension specialists had a positive and significant association with CSA technology adopters. The model result showed that age, sex, and education of the head, farmland size, livestock ownership, income, access to credit, climate information, training, and extension contact influenced the selection of CSA technologies. Therefore, effective action must be taken to remove barriers to the adoption of CSA technologies, and taking these adoption factors into account in policy and practice is anticipated to support smallholder farmers in adapting to climate change while lowering emissions.

Keywords: climate change, climate-smart agriculture, smallholder farmers, multivariate probit model

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Authors: Gong Zhilin, Jing Yang, Jian Yin

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The purpose of this paper is to develop a novel system for credit card fraud detection based on sequential modeling of data using hybrid deep learning models. The projected model encapsulates five major phases are pre-processing, imbalance-data handling, feature extraction, optimal feature selection, and fraud detection with an ensemble classifier. The collected raw data (input) is pre-processed to enhance the quality of the data through alleviation of the missing data, noisy data as well as null values. The pre-processed data are class imbalanced in nature, and therefore they are handled effectively with the K-means clustering-based SMOTE model. From the balanced class data, the most relevant features like improved Principal Component Analysis (PCA), statistical features (mean, median, standard deviation) and higher-order statistical features (skewness and kurtosis). Among the extracted features, the most optimal features are selected with the Self-improved Arithmetic Optimization Algorithm (SI-AOA). This SI-AOA model is the conceptual improvement of the standard Arithmetic Optimization Algorithm. The deep learning models like Long Short-Term Memory (LSTM), Convolutional Neural Network (CNN), and optimized Quantum Deep Neural Network (QDNN). The LSTM and CNN are trained with the extracted optimal features. The outcomes from LSTM and CNN will enter as input to optimized QDNN that provides the final detection outcome. Since the QDNN is the ultimate detector, its weight function is fine-tuned with the Self-improved Arithmetic Optimization Algorithm (SI-AOA).

Keywords: credit card, data mining, fraud detection, money transactions

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Authors: Mirzet SeHo, Alaa Alaabed, Mansur Masih

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In theory, risk-sharing-based financing (RSF) is considered a corner stone of Islamic finance. It is argued to render Islamic banks more resilient to shocks. In practice, however, this feature of Islamic financial products is almost negligible. Instead, debt-based instruments, with conventional like features, have overwhelmed the nascent industry. In addition, the framework of present-day economic, regulatory and financial reality inevitably exposes Islamic banks in dual banking systems to problems of conventional banks. This includes, but is not limited to, interest rate risk. Empirical evidence has, thus far, confirmed such exposures, despite Islamic banks’ interest-free operations. This study applies system GMM in modeling the determinants of RSF, and finds that RSF is insensitive to changes in interest rates. Hence, our results provide support to the “stability” view of risk-sharing-based financing. This suggests RSF as the way forward for risk management at Islamic banks, in the absence of widely acceptable Shariah compliant hedging instruments. Further support to the stability view is given by evidence of counter-cyclicality. Unlike debt-based lending that inflates artificial asset bubbles through credit expansion during the upswing of business cycles, RSF is negatively related to GDP growth. Our results also imply a significantly strong relationship between risk-sharing deposits and RSF. However, the pass-through of these deposits to RSF is economically low. Only about 40% of risk-sharing deposits are channeled to risk-sharing financing. This raises questions on the validity of the industry’s claim that depositors accustomed to conventional banking shun away from risk sharing and signals potential for better balance sheet management at Islamic banks. Overall, our findings suggest that, on the one hand, Islamic banks can gain ‘independence’ from conventional banks and interest rates through risk-sharing products, the potential for which is enormous. On the other hand, RSF could enable policy makers to improve systemic stability and restrain excessive credit expansion through its countercyclical features.

Keywords: Islamic banks, risk-sharing, financing, interest rate, dynamic system GMM

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Authors: Eithan Hourie, Miki Malul, Raphael Bar-El

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To investigate the relationship between various welfare policies and the value of job security, we conducted a study with 201 people regarding their assessments of the value of job security with respect to three elements: income stability, assurance of continuity of employment, and security in the job. The experiment simulated different welfare policy scenarios, such as the amount and duration of unemployment benefits, workfare, and basic income. The participants evaluated the value of job security in various situations. We found that the value of job security is approximately 22% of the starting salary, which is distributed as follows: 13% reflects income security, 8.7% reflects job security, and about 0.3% is for being able to keep their current employment in the future. To the best of our knowledge, this article is one of the pioneers in trying to quantify the value of job security in different market scenarios and at varying levels of welfare policy. Our conclusions may help decision-makers when deciding on a welfare policy.

Keywords: job security value, employment protection legislation, status quo bias, expanding welfare policy

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Authors: N. Kazantseva, P. Krakhmalev, I. Yadroitsev, A. Fefelov, N. Vinogradova, I. Ezhov, T. Kurennykh

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Martensitic texture-phase transition in Selective Laser Melting (SLM) Ti-6Al-4V (ELI) alloys was found. Electron Backscatter Diffraction (EBSD) analysis showed the initial cubic beta < 100 > (001) BCC texture. Such kind of texture is observed in BCC metals with flat rolling texture when axis is in the direction of rolling and the texture plane coincides with the plane of rolling. It was found that the texture of the parent BCC beta-phase determined the texture of low-temperature HCP alpha-phase limited the choice of its orientation variants. The {10-12} < -1011 > twinning system in titanium alloys after SLM was determined. Analysis of the oxygen contamination in SLM alloys was done. Comparison of the obtained results with the conventional titanium alloys is also provided.

Keywords: additive technology, texture, twins, Ti-6Al-4V, oxygen content

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Authors: Elizabeth Loza-Valerdi, Victor Pardiñas-Rios, Arnulfo Pluma-Pluma, Andres Breton-Toral, Julio Cercado-Jaramillo

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The purification processes for mixtures of isomeric monosaccharides using industrial chromatographic methods poses a serious technical challenge. Mixtures of 2 or 3 monosaccharides are difficult to separate by strictly physical or chemical techniques. Differential fermentation by microbial cultures is an increasingly interesting way of selective enrichment in a particular kind of monosaccharides when a mixture of them is present in the solution, and only one has economical value. Osmotolerant yeast cultures provide an interesting source of biocatalysts for the selective catabolism of monosaccharides in media containing high concentrations of total soluble sugars. A collection of 398 yeast strains has been obtained using endemic and unique sources of fruit juices, industrial syrups, honey, and other high sugar content substrates, either natural or man made, products and by-products from Mexico. The osmotolerance of the strains was assessed by plate assay both in glucose (20-40-60%w/w). Strains were classified according to their osmotolerance in low, medium or highly tolerant to high glucose concentrations. The purified cultures were tested by their ability to growth in a solid plate media or liquid media of Yeas Nitrogen Base (YNB), added with specific monosaccharides as sole carbon source (glucose, galactose, lactose and fructose). Selected strains were subsequently tested in fermentation experiments with mixtures of two monosaccharides (galactose/glucose and glucose/fructose). Their ability to grow and selectively catabolize one monosaccharide was evaluated. Growth, fermentation activity and products of metabolism were determined by plate counts, CO2 production, turbidity and chromatographic analysis by HPLC. Selective catabolism of one monosaccharide in liquid media containing two monosaccharides was confirmed for 8 strains. Ion Exchange chromatographic processes were used in production of high fructose or galactose syrup. Laboratory scale processes for the production of fructose or galactose enriched syrups is now feasible, with important applications in food (like high fructose syrup as edulcorant) and fermentation technology (for GOS production).

Keywords: osmotolerant yeasts, selective metabolism, fructose syrup, GOS

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Authors: Inese Tenberga

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Undoubtedly, the focus of the present capitalist system of finance has shifted from the concept of productivity of money to the ‘cult of money’, which is characterized by such notions as speculative activity, squander, self-profit, vested interest, etc. The author is certain that a civilized society cannot follow this economic path any longer and therefore suggests that one solution would be to integrate the Islamic financial model in the banking sector of the EU to overcome its economic vulnerability and structurally transform its economies or build resilience against shocks and crisis. The researcher analyses the Islamic financial model, which is providing the basis for the concept of non-productivity of money, and proposes to consider it as a new paradigm of economic thinking. The author argues that it seeks to establish a broad-based economic well-being with an optimum rate of economic growth, socio-economic justice, equitable distribution of income and wealth. Furthermore, the author analyses and proposes to use the experience of member states of the Islamic Development Bank for the formation of a new EU interest free banking. It is offered to create within the EU banking system a credit sector and investment sector respectively. As a part of the latter, it is recommended to separate investment banks specializing in speculative investments and non­speculative investment banks. Meanwhile, understanding of the idea of Islamic banking exclusively from the perspective of the manner of yielding profit that differs from credit banking, without considering the legal, social, ethical guidelines of Islam impedes to value objectively the advantages of this type of financial activities at the non-Islamic jurisdictions. However, the author comes to the conclusion the imperative of justice and virtue, which is inherent to all of us, exists regardless of religion. The author concludes that the global community should adopt the experience of the Muslim countries and focus on the Islamic banking model.

Keywords: credit sector, EU banking system, investment sector, Islamic banking

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Authors: Pınar Yardımcı

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This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.

Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey

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Authors: Yafa Haron, Hanna Adami

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Background: World Health Organization emphasizes the contribution of nurses in planning and implementing health policies and reforms. Aim: To evaluate nursing students’ attitudes towards nurses’ involvement in health policy issues. Methods: Mixed-methods; qualitative and quantitative – a descriptive study. Participants - nursing students who were enrolled in their last year in the undergraduate program (BSN). Qualitative data included two open-ended questions: What is health policy and what is the importance of studying health policy, and 18 statements on the Likert Scale range 1-5. Results: Qualitativeanalysisrevealed that the majority of students defined health policy as a set of rules and regulations that defined procedures, borders, and proper conduct. 73% of students responded that nurses should be active in policymaking, but only 22% thought that nurses were currently involved in political issues. 28% thought that nurses do not have the knowledge and the time needed (60%) for political activity. 77% thought that the work environment did not encourage nurses to be politically active. Nursing students are aware of the importance towards nurses’ involvement in health policy issues, however, they do not have role models based on their low evaluation regarding nurses’ involvement in the health policy decision making process at the local or national level. Conclusions: Results emphasize the importance and the need of implementation the recommendation to include “advance policy changes” as core competency in nursing education and practice.

Keywords: health policy, nursing education, health systems, student perceptions

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