Search results for: procyclical policy.

Authors: Norazah Mohd Suki, T Ramayah

Abstract:

e-Government structures permits the government to operate in a more transparent and accountable manner of which it increases the power of the individual in relation to that of the government. This paper identifies the factors that determine customer-s attitude towards e-Government services using a theoretical model based on the Technology Acceptance Model. Data relating to the constructs were collected from 200 respondents. The research model was tested using Structural Equation Modeling (SEM) techniques via the Analysis of Moment Structure (AMOS 16) computer software. SEM is a comprehensive approach to testing hypotheses about relations among observed and latent variables. The proposed model fits the data well. The results demonstrated that e- Government services acceptance can be explained in terms of compatibility and attitude towards e-Government services. The setup of the e-Government services will be compatible with the way users work and are more likely to adopt e-Government services owing to their familiarity with the Internet for various official, personal, and recreational uses. In addition, managerial implications for government policy makers, government agencies, and system developers are also discussed.

Keywords: E-government, structural equation modelling, attitude, service.

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Authors: Vakhtang Charaia

Abstract:

The article focuses on the role of FDI in Georgia’s economic development for the last decade. To attract as much FDI as possible a proper investment climate should be on the place - institutional, policy and regulatory environment. Well developed investment climate is the chance and motivation for both, local economy and foreign companies, to generate maximum income, create new work places and improve the quality of life. FDI trend is one of the best indicators of country’s economic sustainability and its attractiveness. Especially for small and developing countries, the amount of FDI matters, therefore most of such countries are trying to compete with each other through improving their investment climate according to different world famous indexes. As a result of impressive reforms since 2003, Georgian economy was benefited with large invasion of FDI, however the level of per capita GDP is still law in comparison to Eastern European countries and it should be improved. The main idea of the paper is to show a real linkage between FDI and employment ration, on the case of Georgian economy.

Keywords: Foreign Direct Investment, Sustainable Development, Corruption, Employment/Unemployment.

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Authors: Elnura Assyltayeva, Zhanar Aldubasheva, Zhengisbek Tolen

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An attempt has been made several times to identify and discuss the U.S. experience on the formation of political nation in political science. The purpose of this research paper is to identify the main aspects of the formation of civic identity in the United States and Kazakhstan, through the identification of similarities and differences that can get practical application in making decisions of national policy issues in the context of globalization, as well as to answer the questions “What should unite the citizens of Kazakhstan to the nation?" and “What should be the dominant identity: civil or ethnic (national) one?" Can Kazakhstan being multiethnic country like America, adopt its experience in the formation of a civic nation? Since it is believed that the “multi-ethnic state of the population is a characteristic feature of most modern countries in the world," it states that “inter-ethnic integration is one of the most important aspects of the problem of forming a new social community (metaetnic - Kazakh people, Kazakh nation" [1].

Keywords: nation, civic identity, nation building, globalization, interethnic relations, patriotism

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Authors: M. Kaggwa

Abstract:

Technology or lack of it will play an important role in Africa-s effort to achieve inclusive development. Although a key determinant of competitiveness, new technology can exacerbate exclusion of the majority from the mainstream economic activities. To minimise potential technology exclusion while leveraging its critical role in African-s development, requires insight into technology diffusion process. Using system dynamics approach, a technology diffusion model is presented. The frequency of interaction of people exposed to and those not exposed to technology, and the technology adoption rate - the fraction of people who embrace new technologies once they are exposed, are identified as the broad factors critical to technology diffusion to wider society enabling more people to be part of the economic growth process. Based on simulation results, it is recommends that these two broad factors should form part of national policy aimed at achieving inclusive and sustainable development in Africa.

Keywords: Inclusive Development, System Dynamics, Technology, Technology diffusion.

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Authors: Tayebeh Saghapour, Sara Moridpour, Russell George Thompson

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One of the common aims of transport policy makers is to switch people’s travel to active transport. For this purpose, a variety of transport goals and investments should be programmed to increase the propensity towards active transport mode choice. This paper aims to investigate whether built environment features in neighbourhoods could enhance the odds of active transportation. The present study introduces an index measuring public transport accessibility (PTAI), and a walkability index along with socioeconomic variables to investigate mode choice behaviour. Using travel behaviour data, an ordered logit regression model is applied to examine the impacts of explanatory variables on walking trips. The findings indicated that high rates of active travel are consistently associated with higher levels of walking and public transport accessibility.

Keywords: Active transport, public transport accessibility, walkability, ordered logit model.

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Authors: Ahmed Mohsen, Yoshinobu Kitamura, Katsuyuki Shimizu

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The improvement of irrigation systems in the Nile Delta is one of the most important attempts in Egypt to implement more effective irrigation technology by improving the existing irrigation networks. Demand delivery system in the existing irrigation network is using of mechanical gates structures to automatically divert water from one portion of an agricultural field to another in the desired amount and sequence. This paper discusses evaluating main irrigation networks system under the government managed before and after improvement systems in the Nile Delta. The overall results indicate that policy of using the demand delivery concept through irrigation networks is successful by improving water delivery performance among them than the rotation delivery concept that used before. It is provided fair share of water delivery among irrigation districts and available water in the end of irrigation network, although this system located in an end of irrigation networks in the Nile Delta.

Keywords: Automation system, Irrigation district, Rotation system, Water delivery performance

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Authors: Dai Zhimei, Hua Chen

Abstract:

The exploration of urban spatial evolution is an important part of urban development research. Therefore, the evolutionary modern Yangzhou urban spatial texture was taken as the research object, and Spatial Syntax was used as the main research tool, this paper explored Yangzhou spatial evolution law and its driving factors from the urban street network scale, district scale and street scale. The study has concluded that at the urban scale, Yangzhou urban spatial evolution is the result of a variety of causes, including physical and geographical condition, policy and planning factors, and traffic conditions, and the evolution of space also has an impact on social, economic, environmental and cultural factors. At the district and street scales, changes in space will have a profound influence on the history of the city and the activities of people. At the end of the article, the matters needing attention during the evolution of urban space were summarized.

Keywords: Space Syntax, spatial texture, urban space, Yangzhou.

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Authors: Palang Wongtanasuporn

Abstract:

Rural villagers in Thailand have unique skill for producing craft using local materials. However, the appearance and function of their products are not suited to the demand of international market. The Thai government policy on sustainable economy emphasises the necessity to incorporate a design strategy that will draw out the unique qualities and add value to the products, while raising the satisfaction of international consumer. As an industrial designer, the author sees opportunities that design can enhance sustainability of Thai local products through the potentials that available in village-based enterprises. This research attempts to address, how best use design to practically solve the problems in the development of Thais product in. The privilege solution is expressed through the design of design strategy that supports sustain economic development of microenterprise in Thailand in the way that aligns with product design development. This consideration integrates together with global business outlook in the development of products from rural communities.

Keywords: Community Development, Sufficiency Economy Philosophy, Product Design, Strategy Management.

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Authors: Chandra Sabnani, M. V. Latkar, Utpal Sharma

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A large section of the society in Urban India is unable to afford a basic dwelling unit. Housing shortage due to the rising unafforability makes it logical to consider alternative technologies more seriously for their application How far do these alternative technologies match up with the conventional techniques? How do these integrate with the present-day need for urban amenities and facilities? Are the owners of bamboo dwellings, for instance, a part of the mainstream housing sector, having the same rights and privileges as those enjoyed by other property owners? Will they have access to loans for building, improving, renovating or repairing their dwellings? Why do we still hesitate to build a bamboo house for ourselves? Is our policy framework and political resolve in place, to welcome such alternative technologies? It is time we found these answers, in order to explore the reasons for large-scale nonacceptance, of a technology proven for its worthiness.

Keywords: Affordable housing, Appropriateness, Bamboo technology, Urban Poor.

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Authors: Yongyoon Suh, Yongtae Park

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The interaction among information and communication technology (ICT) industries is a recently ubiquitous phenomenon through fixed-mobile integration. To monitor the impact of interaction, previous research has mainly focused on measuring spillover effect among ICT industries using various methods. Among others, inter-industry analysis is one of the useful methods for examining spillover effect between industries. However, more complex ICT industries become, more important the impact within an industry is. Inter-industry analysis is limited in mirroring intra-relationships within an industry. Thus, this study applies the analytic network process (ANP) to measure the spillover effect, capturing all of the intra and inter-relationships. Using ANP-based intra and inter-industry analysis, the spillover effect is effectively measured, mirroring the complex structure of ICT industries. A main ICT industry and its linkages are also explored to show the current structure of ICT industries. The proposed approach is expected to allow policy makers to understand interactions of ICT industries and their impact.

Keywords: ANP, intra and inter-industry analysis, spillover effect

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Different transportation modes have key operational advantages and disadvantages, providing a variety of different transport options to users and passengers. This paper reviews key variables for the competition between air transport and other transport modes. The aim of this paper is to review the competition between air transport and other transport modes, providing results in terms of perceived cost for the users, for destinations high competitiveness for all transport modes. The competitor analysis variables include the cost and time outputs for each transport option, highlighting the level of competitiveness on high demanded Origin-Destination corridors. The case study presents the output of a such analysis for the OD corridor in Greece that connects the Capital city (Athens) with the second largest city (Thessaloniki) and the different transport modes have been considered (air, train, road). Conventional wisdom is to present an easy to handle tool for planners, managers and decision makers towards pricing policy effectiveness and demand attractiveness, appropriate to use for other similar cases.

Keywords: Competitor analysis, generalized cost, transport economics, quantitative modelling.

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Authors: Ghazwan Al-Haji

Abstract:

Most accidents occur in urban areas, and the most related casualties are vulnerable road users (pedestrians and cyclists). The traffic calming measures (TCMs) are widely used and considered to be successful in reducing speed and traffic volume. However, TCMs create unwanted effects include: noise, emissions, energy consumption, vehicle delays and emergency response time (ERT). Different vertical and horizontal TCMs have been already applied nationally (Sweden) and internationally with different impacts. It is a big challenge among traffic engineers, planners, and policy-makers to choose and priorities the best TCMs to be implemented. This study will assess the existing guidelines for TCMs in relation to safety and ERT with focus on data from Norrkoping city in Sweden. The expected results will save lives, time, and money on particularly Swedish Roads. The study will also review newly technologies and how they can improve safety and reduce ERT.

Keywords: Traffic safety, traffic calming measures, speeding, emergency response time.

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Authors: Ling Zheng, Yaping Wei, Kang Cao, Songpo Shi, Jinxing Wang

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It-s difficult for China-s current land transfer institutions limited to county-wide to solve the contradiction between urban-rural development and construction land shortage. On the basis of analyzing China-s construction land transfer system, and evaluation toward Transfer of development rights (TDR) practices in Anhui and Chongqing, the passage proposes: (1) we should establish a multi-level land indicators trade market under the guidance of regional spatial objectives, and allow land transfer paid across cities and counties within a specific area following the regulation of both government and market; (2) it would be better to combine organically the policy ntentions of land plan, regional plan, urban plan and economic plan, and link them with land indicators transfer to promote a wider range of urban-rural balance and regional coordination.

Keywords: China's land institutions, transfer of development rights, urban-rural balance, regional coordination.

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Authors: Robert M. Russo

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This paper analyzes the linkage between migration, economic globalization and terrorism concerns. On a broad level, I analyze Canadian economic and political considerations, searching for causal relationships between political and economic actors on the one hand, and Canadian immigration law on the other. Specifically, the paper argues that there are contradictory impulses affecting state sovereignty. These impulses are are currently being played out in the field of Canadian immigration law through several proposed changes to Canada-s Immigration and Refugee Protection Act (IRPA). These changes reflect an ideological conception of sovereignty that is intrinsically connected with decision-making capacity centered on an individual. This conception of sovereign decision-making views Parliamentary debate and bureaucratic inefficiencies as both equally responsible for delaying essential decisions relating to the protection of state sovereignty, economic benefits and immigration control This paper discusses these concepts in relation to Canadian immigration policy under Canadian governments over the past twenty five years.

Keywords: Globalization, immigration law, security, anti-terrorism.

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Authors: A. Lawanna, J. Daengdej

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Case-Based Reasoning (CBR) is one of machine learning algorithms for problem solving and learning that caught a lot of attention over the last few years. In general, CBR is composed of four main phases: retrieve the most similar case or cases, reuse the case to solve the problem, revise or adapt the proposed solution, and retain the learned cases before returning them to the case base for learning purpose. Unfortunately, in many cases, this retain process causes the uncontrolled case base growth. The problem affects competence and performance of CBR systems. This paper proposes competence-based maintenance method based on deletion policy strategy for CBR. There are three main steps in this method. Step 1, formulate problems. Step 2, determine coverage and reachability set based on coverage value. Step 3, reduce case base size. The results obtained show that this proposed method performs better than the existing methods currently discussed in literature.

Keywords: Case-Based Reasoning, Case Base Maintenance, Coverage, Reachability.

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Authors: Dejan Metodijeski, Elizabeta Mitreva, Nako Taskov, Oliver Filiposki

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Tourism development strategies are an important link in the tourism policy that is used to make its management better and easier. A public-public partnership (PUP) is a partnership between two or more public authorities or between a public authority and any non-profit organization with the goal of providing services and facilities or transferring technical skills. The paper presents this kind of partnership between two public authorities in Macedonia, the Municipality of Gazi Baba on one hand, and the University of Goce Delcev on the other. The main idea of this partnership is the development of a tourism strategy for the Municipality of Gazi Baba by the University on one side, and on the other, the construction of a mini park in the court of the University by the Municipality. This paper presents the causes and analyzes the procedures relating to this partnership and the methodology of the tourism development strategy. It contains a relevant literature review related to PUPs and tourism development strategy. The results and benefits of this partnership are presented with figures.

Keywords: Public-public partnership, tourism development strategy, municipality of Gazi Baba, Macedonia.

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Authors: Thaniya Kaosol

Abstract:

General as well as the MSW management in Thailand is reviewed in this paper. Topics include the MSW generation, sources, composition, and trends. The review, then, moves to sustainable solutions for MSW management, sustainable alternative approaches with an emphasis on an integrated MSW management. Information of waste in Thailand is also given at the beginning of this paper for better understanding of later contents. It is clear that no one single method of MSW disposal can deal with all materials in an environmentally sustainable way. As such, a suitable approach in MSW management should be an integrated approach that could deliver both environmental and economic sustainability. With increasing environmental concerns, the integrated MSW management system has a potential to maximize the useable waste materials as well as produce energy as a by-product. In Thailand, the compositions of waste (86%) are mainly organic waste, paper, plastic, glass, and metal. As a result, the waste in Thailand is suitable for an integrated MSW management. Currently, the Thai national waste management policy starts to encourage the local administrations to gather into clusters to establish central MSW disposal facilities with suitable technologies and reducing the disposal cost based on the amount of MSW generated.

Keywords: MSW, management, sustainable, Thailand

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Authors: M. Sarrab, H. Bourdoucen

Abstract:

Mobile applications are verified to check the correctness or evaluated to check the performance with respect to specific security properties such as Availability, Integrity and Confidentiality. Where they are made available to the end users of the mobile application is achievable only to a limited degree using software engineering static verification techniques. The more sensitive the information, such as credit card data, personal medical information or personal emails being processed by mobile application, the more important it is to ensure the confidentiality of this information. Monitoring untrusted mobile application during execution in an environment where sensitive information is present is difficult and unnerving. The paper addresses the issue of monitoring and controlling the flow of confidential information during untrusted mobile application execution. The approach concentrates on providing a dynamic and usable information security solution by interacting with the mobile users during the runtime of mobile application in response to information flow events.

Keywords: Mobile application, Run-time verification, Usable security, Direct information flow.

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Authors: Zhang Wenbo, Tian Ye, Sun Peigen, Xu Haifeng

Abstract:

According to the mobility of the satellite network nodes and the characteristic of management domain dynamic partition in the satellite network, the login and logout mechanism of the satellite network dynamic management domain partition was proposed in the paper. In the mechanism, a ground branch-station sends the packets of login broadcasting to satellites in view. After received the packets, the SNMP agents on the satellites adopt link-delay test to respond. According to the mechanism, the SNMP primitives were extended, and the new added primitives were as follows: broadcasting, login, login confirmation,delay_testing, test responses, and logout. The definition of primitives, which followed RFC1157 criterion, could be encoded by the BER coding. The policy of the dynamic management domain partition on the basis of the login and logout mechanism, which was supported by the SNMP protocol, was realized by the design of the extended primitives.

Keywords: Satellites Network, network management, communication primitive, SNMP

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Authors: M. Haghighi, M. Zowghi, B. Zohouri

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Quality Function Deployment (QFD) is an expounded, multi-step planning method for delivering commodity, services, and processes to customers, both external and internal to an organization. It is a way to convert between the diverse customer languages expressing demands (Voice of the Customer), and the organization-s languages expressing results that sate those demands. The policy is to establish one or more matrices that inter-relate producer and consumer reciprocal expectations. Due to its visual presence is called the “House of Quality" (HOQ). In this paper, we assumed HOQ in multi attribute decision making (MADM) pattern and through a proposed MADM method, rank technical specifications. Thereafter compute satisfaction degree of customer requirements and for it, we apply vagueness and uncertainty conditions in decision making by fuzzy set theory. This approach would propound supervised neural network (perceptron) for MADM problem solving.

Keywords: MADM, fuzzy set, QFD, supervised neural network (perceptron).

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Authors: Sandija Zeverte-Rivza, Irina Pilvere, Baiba Rivza

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The use of renewable energy sources incl. biogas has become topical in accordance with the increasing demand for energy, decrease of fossil energy resources and the efforts to reduce greenhouse gas emissions as well as to increase energy independence from the territories where fossil energy resources are available.

As the technologies of biogas production from agricultural biomass develop, risk assessment and risk management become necessary for farms producing such a renewable energy. The need for risk assessments has become particularly topical when discussions on changing the biogas policy in the EU take place, which may influence the development of the sector in the future, as well as the operation of existing biogas facilities and their income level.

The current article describes results of the risk assessment for farms producing biomass from agriculture biomass in Latvia, the risk assessment system included 24 risks, that affect the whole biogas production process and the obtained results showed the high significance of political and production risks.

Keywords: Biogas production, risks, risk assessment.

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Authors: Samaila Balarabe

Abstract:

Information and Communication Technology (ICT) has opened up new and robust ways of sending and receiving information at global level. Any type of information including voice and video is sent to the diverse publics, who equally have variety of choices. Thus, the development of any nation is tied to efficient information dissemination. In Nigeria, television broadcasting started in 1959 with the establishment of the Western Nigeria Television (WNTV) by the opposition leader, Chief Obafemi Awolowo. Later on, the government took over the station and fully controlled it. Subsequently, regional stations were opened to propagate government policies and programs. The television industry in Nigeria continued to grow in terms of viewership and number with over fifty national television stations and twenty five private ones. Thus, existing documents on digitization of television broadcasting industry and related literature were used as the main source of information. Therefore, this paper analyses the efforts being made by the Nigerian government through its ICT policy towards digitization of its television broadcasting in order to cope with the global trend. Recommendations are proffered with a view to achieving the target goal.

Keywords: Broadcasting, Digitization, Information, Television.

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Authors: L. McAllister, A. Dudau

Abstract:

This paper explores gender related barriers to interagency collaboration in statutory children safeguard partnerships against a theoretical framework that considers individuals, professions and organisations interacting as part of a complex adaptive system. We argue that gender-framed obstacles to effective communication between culturally discrepant agencies can ultimately impact on the effectiveness of policy delivery,. We focused our research on three partnership structures in Sefton Metropolitan Borough in order to observe how interactions occur, whether the agencies involved perceive their occupational environment as being gender affected and whether they believe this can hinder effective collaboration with other biased organisations. Our principal empirical findings indicate that there is a general awareness amongst professionals of the role that gender plays in each of the agencies reviewed, that gender may well constitute a barrier to effective communication, but there is a sense in which there is little scope for change in the short term. We aim to signal here, however, the need to change against the risk of service failure.

Keywords: Children's safeguard, gender, gendered professions, inter-agency collaboration, partnerships.

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Authors: Utpal Chattopadhyay

Abstract:

Indian telecom services industry has been witnessing a stupendous growth since 1990s. Over the years, subscriber base has grown steadily and it crossed 950 million marks in March 2012. India with second largest subscriber base also offers one of the lowest call tariffs in the world. But in the euphoria of high growth in services, the equipment manufacturing received least priority. India mainly depends on imported components from China. Of late, it is realized that lack of domestic manufacturing may pose a serious challenge to India-s continued success in the telecom sector. Therefore, the National Telecom Policy 2012 aims at developing a strong equipment manufacturing base within India. This paper realistically assesses India-s true potential in equipment manufacturing and seeks to identify the emerging issues and challenges before the Indian telecom equipment manufacturing sector while it tries to make a transition from an import-dependent industry to a global manufacturing hub.

Keywords: Equipment manufacturing, global hub, Indian telecom industry, issues and challenges.

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Authors: Gaysu R. Arvind

Abstract:

In policy discourse of 1990s, more inclusive spaces have been constructed for realizing full and meaningful participation of common people in education. These participatory spaces provide an alternative possibility for universalizing elementary education against the backdrop of a history of entrenched forms of social and economical exclusion; inequitable education provisions; and shrinking role of the state in today-s neo-liberal times. Drawing on case-studies of bottom-up approaches to school governance, the study examines an array of innovative ways through which poor people gained a sense of identity and agency by evolving indigenous solutions to issues regarding schooling of their children. In the process, state-s institutions and practices became more accountable and responsive to educational concerns of the marginalized people. The deliberative participation emerged as an active way of experiencing deeper forms of empowerment and democracy than its passive realization as mere bearers of citizen rights.

Keywords: Deliberative Forum, Inclusive Spaces, Participatory Governance, People's Agency

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Authors: Madhukar Nagare, Pankaj Dutta, Amey Kambli

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Perishable goods constitute a large portion of retailer inventory and lose value with time due to deterioration and/or obsolescence. Retailers dealing with such goods required considering the factors of short shelf life and the dependency of sales on inventory displayed in determining optimal procurement policy. Many retailers follow the practice of using two bins - primary bin sales fresh items at a list price and secondary bin sales unsold items at a discount price transferred from primary bin on attaining certain age. In this paper, mathematical models are developed for primary bin and for secondary bin that maximizes profit with decision variables of order quantities, optimal review period and optimal selling price at secondary bin. The demand rates in two bins are assumed to be deterministic and dependent on displayed inventory level, price and age but independent of each other. The validity of the model is shown by solving an example and the sensitivity analysis of the model is also reported.

Keywords: Retail Inventory, Perishable Products, Two Bin, Profitable Sales.

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Authors: Kusumaphorn Sompong, Helen Lawton Smith, Barbara Igel

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This paper provides a key driver-based conceptual framework that can be used to improve a firm-s success in commercializing technology and in new product innovation resulting from collaboration with other organizations through strategic alliances. Based on a qualitative study using an interview approach, strategic alliances of entrepreneurs in the food processing industry in Thailand are explored. This paper describes factors affecting decisions to collaborate through alliances. It identifies four issues: maintaining the efficiency of the value chain for production capability, adapting to present and future competition, careful assessment of value of outcomes, and management of innovation. We consider five driving factors: resource orientation, assessment of risk, business opportunity, sharing of benefits and confidence in alliance partners. These factors will be of interest to entrepreneurs and policy makers with regard to further understanding of the direction of business strategies.

Keywords: Managing collaboration, strategic alliance, technology commercialization, innovation.

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Authors: Sibel Ecemis Kiliç, Neslihan Karatas

Abstract:

The concept of urban transformation came about through interventions aimed at bringing socially and economically problematic areas of cities into use. The issue of urban transformation arose frequently during the post-2000 period in particular, and legal regulations on this matter were also developed in Turkey. Urban transformation project would be a focal point for the formation of the city in the near future. Izmir, which is third largest city of Turkey, is an important trade and port city. But, assessment of the current situation shows that, the majority of existing residential areas was formed with squatters and unplanned settlements in Izmir city center. Therefore an important part of these areas have significant problems in terms of the quality of life, safety and environmental quality. In this study, the central policies in Turkey and local policies in Đzmir about urban transformation will be considered. In addition, urban renewal projects that are being implemented in Izmir were discussed and suggestions will be developed in accordance with this policy.

Keywords: urban transformation, urban renewal projects, Izmir, urban planning.

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Authors: Chen-Yin Kuo

Abstract:

This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.

Keywords: Current account, stock price, foreign exchange rate, country characteristics, bivariate cointegration, bi-directional causal relationships.

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

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The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50- 60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: Population aging in the Czech Republic, Segment 50-60 years, Financial services marketing, Marketing research, Marketing approach.

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