Search results for: time history analysis

Authors: Marijana Ivanov, Roman Šubić

Abstract:

This study analyzes the critical gaps in the architecture of European stability and the expected role of the banking union as the new important step towards completing the Economic and Monetary Union that should enable the creation of safe and sound financial sector for the euro area market. The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim of replacing the former bail-out practice with the bail-in system through which possible future bank failures would be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. In this way, the vicious circle between banks and sovereigns would be broken. It would also reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the money market which, due to the fragmentation of the common financial market, has been significantly disabled in period of crisis. However, contrary to all the positive expectations related to the future functioning of the banking union, major findings of this study indicate that characteristics of the economic system in which the banking union will operate should not be ignored. The euro area is an integration of strong and weak entities with large differences in economic development, wealth, assets of banking systems, growth rates and accountability of fiscal policy. The analysis indicates that low and unbalanced economic growth remains a challenge for the maintenance of financial stability and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times and large banks are still a matter of concern, because of their systemic importance for individual countries and the euro zone as a whole. The creation of the Single Supervisory Mechanism and the Single Resolution Mechanism is a response to the European crisis, which has particularly affected peripheral countries and caused the associated loop between the banking crisis and the sovereign debt crisis, but has also influenced banks’ balance sheets in the core countries, as the result of crossborder capital flows. The creation of the SSM and the SRM should prevent the similar episodes to happen again and should also provide a new opportunity for strengthening of economic and financial systems of the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented towards large and significant banks (whereby one half of them operate in the core and most important euro area countries), and therefore it remains questionable to what extent will the common resolution funds will be used for rescue of less important institutions. Recent geopolitical developments will be the optimal indicator to show whether the previously established mechanisms are sufficient enough to maintain the adequate financial stability in the euro area market.

Keywords: Banking Union, financial integration, single supervisory mechanism (SSM).

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Authors: A. Sunkar, Y. Santosa, S. B. Rushayati

Abstract:

Indonesia has experienced annual forest fires that have rapidly destroyed and degraded its forests. Fires in the peat swamp forests of Riau Province, have set the stage for problems to worsen, this being the ecosystem most prone to fires (which are also the most difficult, to extinguish). Despite various efforts to curb deforestation, and forest degradation processes, severe forest fires are still occurring. To find an effective solution, the basic causes of the problems must be identified. It is therefore critical to have an indepth understanding of the underlying causal factors that have contributed to deforestation and forest degradation as a whole, in order to attain reductions in their rates. An assessment of the drivers of deforestation and forest degradation was carried out, in order to design and implement measures that could slow these destructive processes. Research was conducted in Giam Siak Kecil–Bukit Batu Biosphere Reserve (GSKBB BR), in the Riau Province of Sumatera, Indonesia. A biosphere reserve was selected as the study site because such reserves aim to reconcile conservation with sustainable development. A biosphere reserve should promote a range of local human activities, together with development values that are in line spatially and economically with the area conservation values, through use of a zoning system. Moreover, GSKBB BR is an area with vast peatlands, and is experiencing forest fires annually. Various factors were analysed to assess the drivers of deforestation and forest degradation in GSKBB BR; data were collected from focus group discussions with stakeholders, key informant interviews with key stakeholders, field observation and a literature review. Landsat satellite imagery was used to map forest-cover changes for various periods. Analysis of landsat images, taken during the period 2010-2014, revealed that within the non-protected area of core zone, there was a trend towards decreasing peat swamp forest areas, increasing land clearance, and increasing areas of community oilpalm and rubber plantations. Fire was used for land clearing and most of the forest fires occurred in the most populous area (the transition area). The study found a relationship between the deforested/ degraded areas, and certain distance variables, i.e. distance from roads, villages and the borders between the core area and the buffer zone. The further the distance from the core area of the reserve, the higher was the degree of deforestation and forest degradation. Research findings suggested that agricultural expansion may be the direct cause of deforestation and forest degradation in the reserve, whereas socio-economic factors were the underlying driver of forest cover changes; such factors consisting of a combination of sociocultural, infrastructural, technological, institutional (policy and governance), demographic (population pressure) and economic (market demand) considerations. These findings indicated that local factors/problems were the critical causes of deforestation and degradation in GSKBB BR. This research therefore concluded that reductions in deforestation and forest degradation in GSKBB BR could be achieved through ‘local actor’-tailored approaches such as community empowerment.

Keywords: Actor-led solution, community empowerment, drivers of deforestation and forest degradation, Giam Siak Kecil– Bukit Batu Biosphere Reserve.

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Authors: Natalia Podkhodova, Olga Sheremeteva, Mariia Soldaeva

Abstract:

Creating favourable conditions for students’ comprehension of mathematical content is one of the primary problems in teaching mathematics in secondary school. The fact of comprehension includes the ability to build a working situational model and thus becomes an important means of solving mathematical problems. This paper describes a holistic approach to teaching mathematics designed to address the primary challenges of such teaching; specifically, the challenge of students’ comprehension. Essentially, this approach consists of (1) establishing links between the attributes of the notion: the sense, the meaning, and the term; (2) taking into account the components of student’s subjective experience—value-based emotions, contextual, procedural and communicative—during the educational process; (3) linking together different ways to present mathematical information; (4) identifying and leveraging the relationships between real, perceptual and conceptual (scientific) mathematical spaces by applying real-life situational modelling. The article describes approaches to the practical use of these foundational concepts. Identifying how proposed methods and techniques influence understanding of material used in teaching mathematics was the primary goal. The study included an experiment in which 256 secondary school students took part: 142 in the study group and 114 in the control group. All students in these groups had similar levels of achievement in math and studied math under the same curriculum. In the course of the experiment, comprehension of two topics — “Derivative” and “Trigonometric functions”—was evaluated. Control group participants were taught using traditional methods. Students in the study group were taught using the holistic method: under teacher’s guidance, they carried out assignments designed to establish linkages between notion’s characteristics, to convert information from one mode of presentation to another, as well as assignments that required the ability to operate with all modes of presentation. Identification, accounting for and transformation of subjective experience were associated with methods of stimulating the emotional value component of the studied mathematical content (discussions of lesson titles, assignments aimed to create study dominants, performing theme-related physical exercise ...) The use of techniques that forms inter-subject notions based on linkages between, perceptual real and mathematical conceptual spaces proved to be of special interest to the students. Results of the experiment were analysed by presenting students in each of the groups with a final test in each of the studied topics. The test included assignments that required building real situational models. Statistical analysis was used to aggregate test results. Pierson criterion x2 was used to reveal statistics significance of results (pass-fail the modelling test). Significant difference of results was revealed (p < 0.001), which allowed to conclude that students in the study group showed better comprehension of mathematical information than those in the control group. The total number of completed assignments of each student was analysed as well, with average results calculated for each group. Statistical significance of result differences against the quantitative criterion (number of completed assignments) was determined using Student’s t-test, which showed that students in the study group completed significantly more assignments than those in the control group (p = 0.0001). Authors thus come to the conclusion that suggested increase in the level of comprehension of study material took place as a result of applying implemented methods and techniques.

Keywords: Comprehension of mathematical content, holistic approach to teaching mathematics in secondary school, subjective experience, technology of the formation of inter-subject notions.

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