Search results for: European Economic Area
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4068

Search results for: European Economic Area

3918 The Context-s Influence on the Evolution of Cioran: The Options of an Engaged Philosopher

Authors: Mara Magda Maftei

Abstract:

The article emphasizes the ideological commitment of the philosopher Emil Cioran. It presents firstly Cioran's works on the theme announced by the title, then the European context that determined the political option of Cioran and a brief analysis of his relationship with History during his French period. The anti- Semitism of Cioran was favored by his attachment to a few philosophers, but also by the European extremist and anti-Semitic context. The article seeks to demonstrate that the philosopher Cioran, known more for his pessimism and nihilism, maintained in time an obsessive relationship with History. His political philosophy is as important as his subjective philosophy, better known than the former.

Keywords: Cioran, French writings, History, Iron Guard

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3917 Identifying Factors for Evaluating Livability Potential within a Metropolis: A Case of Kolkata

Authors: Arpan Paul, Joy Sen

Abstract:

Livability is a holistic concept whose factors include many complex characteristics and levels of interrelationships among them. It has been considered as people’s need for public amenities and is recognized as a major element to create social welfare. The concept and principles of livability are essential for recognizing the significance of community well-being. The attributes and dimensions of livability are also important aspects to measure the overall quality of environment. Livability potential is mainly considered as the capacity to develop into the overall well-being of an urban area in future. The intent of the present study is to identify the prime factors to evaluate livability potential within a metropolis. For ground level case study, the paper has selected Kolkata Metropolitan Area (KMA) as it has wide physical, social, and economic variations within it. The initial part of the study deals with detailed literature review on livability and its significance of evaluating its potential within a metropolis. The next segment is dedicated for identifying the primary factors which would evaluate livability potential within a metropolis. In pursuit of identifying primary factors, which have a direct impact on urban livability, this study delineates the metropolitan area into various clusters, having their distinct livability potential. As a final outcome of the study, variations of livability potential of those selected clusters are highlighted to explain the complexity of the metropolitan development.

Keywords: Livability potential, metropolis, Kolkata Metropolitan Area (KMA), well-being.

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3916 An Implementation of EURORADIO Protocol for ERTMS Systems

Authors: Gabriele Cecchetti, Anna Lina Ruscelli, Filippo Cugini, Piero Castoldi

Abstract:

European Rail Traffic Management System (ERTMS) is the European reference for interoperable and safer signaling systems to efficiently manage trains running. If implemented, it allows trains cross seamlessly intra-European national borders. ERTMS has defined a secure communication protocol, EURORADIO, based on open communication networks. Its RadioInfill function can improve the reaction of the signaling system to changes in line conditions, avoiding unnecessary braking: its advantages in terms of power saving and travel time has been analyzed. In this paper a software implementation of the EURORADIO protocol with RadioInfill for ERTMS Level 1 using GSM-R is illustrated as part of the SR-Secure Italian project. In this building-blocks architecture the EURORADIO layers communicates together through modular Application Programm Interfaces. Security coding rules and railway industry requirements specified by EN 50128 standard have been respected. The proposed implementation has successfully passed conformity tests and has been tested on a computer-based simulator.

Keywords: ERTMS, ETCS signalling, EURORADIO protocol, radio infill function.

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3915 The Threats of Deforestation, Forest Fire, and CO2 Emission toward Giam Siak Kecil Bukit Batu Biosphere Reserve in Riau, Indonesia

Authors: S. B. Rushayati, R. Meilani, R. Hermawan

Abstract:

A biosphere reserve is developed to create harmony amongst economic development, community development, and environmental protection, through partnership between human and nature. Giam Siak Kecil Bukit Batu Biosphere Reserve (GSKBB BR) in Riau Province, Indonesia, is unique in that it has peat soil dominating the area, many springs essential for human livelihood, high biodiversity. Furthermore, it is the only biosphere reserve covering privately managed production forest areas. In this research, we aimed at analyzing the threat of deforestation and forest fire, and the potential of CO2 emission at GSKBB BR. We used Landsat image, arcView software, and ERDAS IMAGINE 8.5 Software to conduct spatial analysis of land cover and land use changes, calculated CO2 emission based on emission potential from each land cover and land use type, and exercised simple linear regression to demonstrate the relation between CO2 emission potential and deforestation. The result showed that, beside in the buffer zone and transition area, deforestation also occurred in the core area. Spatial analysis of land cover and land use changes from years 2010, 2012, and 2014 revealed that there were changes of land cover and land use from natural forest and industrial plantation forest to other land use types, such as garden, mixed garden, settlement, paddy fields, burnt areas, and dry agricultural land. Deforestation in core area, particularly at the Giam Siak Kecil Wildlife Reserve and Bukit Batu Wildlife Reserve, occurred in the form of changes from natural forest in to garden, mixed garden, shrubs, swamp shrubs, dry agricultural land, open area, and burnt area. In the buffer zone and transition area, changes also happened, what once swamp forest changed into garden, mixed garden, open area, shrubs, swamp shrubs, and dry agricultural land. Spatial analysis on land cover and land use changes indicated that deforestation rate in the biosphere reserve from 2010 to 2014 had reached 16 119 ha/year. Beside deforestation, threat toward the biosphere reserve area also came from forest fire. The occurrence of forest fire in 2014 had burned 101 723 ha of the area, in which 9 355 ha of core area, and 92 368 ha of buffer zone and transition area. Deforestation and forest fire had increased CO2 emission as much as 24 903 855 ton/year.

Keywords: Biosphere reserve, CO2 emission, deforestation, forest fire.

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3914 Trade Policy and Economic Growth of Turkey in Global Economy: New Empirical Evidences

Authors: Pınar Yardımcı

Abstract:

This paper tries to answer to the questions whether or not trade openness causes economic growth and trade policy changes are good for Turkey as a developing country in global economy before and after 1980. We employ Johansen co-integration and Granger causality tests with error correction modeling 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, Co-integration, Turkey.

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3913 Protection of Human Rights in Europe: The Parliamentary Dimension

Authors: Aleksandra Chiniaeva

Abstract:

The following paper describes the activity of national and international parliamentary assemblies of the European region in protection and promotion of human rights. It may be said that parliamentarians have a “double mandate” — as members of the international assembly and of their respective national parliaments. In other words, parliamentarization at both international and national level provides a situation for parliamentarians, where they link people, national governments and international organizations. The paper is aimed towards demonstrating that the activity of the main international parliamentary assemblies of the European region have a real positive impact on the human rights situation in the European region. In addition, the paper describes the assemblies that include protection of human rights in their Agenda as one of the main subjects: the EP, the PACE, the OSCE PA and the IPA CIS. Co-operation activities such as joint election observation; participation in inter-parliamentary associations, such as the IPU; conclusion agreements allow assemblies to provide observation of human right situation in the states that are not members of the particular organization and as consequence make their impact broader.

Keywords: Human rights, International parliamentary assembly, IPU, EP, PACE, OSCE, IPA CIS, international election observation.

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3912 Intellectual Property Implications in the Context of Space Exploration with a Focus on European Space Agency Rules and Regulations

Authors: Linda Ana Maria Ungureanu

Abstract:

This article details the manner in which European law establishes the protection and ownership rights over works created in off-world environments or in relation to space exploration. In this sense, the analysis is focused on identifying the legal treatment applicable to creative works based on the provisions regulated under the International Space Treaties, on one side, and the International Intellectual Property (IP) Treaties and subsequent EU legislation, on the other side, with a special interest on European Space Agency (ESA) Rules and Regulations. Furthermore, the article analyses the manner in which ESA regulates the ownership regime applicable for creative works, taking into account the relationship existing between the inventor/creator and ESA and the environment in which the creative work was developed. Moreover, the article sets a series of de lege ferenda proposals for the regulation of IP matters in the context of space exploration, the main purpose being to identify legal measures and steps that need to be taken in order to ensure that creative activities are fostered and understood as a significant catalyst for encouraging space exploration.

Keywords: ESA guidelines, EU legislation, intellectual property law, international IP treaties.

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3911 A Shift in the Structure of Economy and Synergy of University: Developing Potential through Research and Development Center of SMEs in Jember

Authors: Muhamad Nugraha

Abstract:

Economic growth always correlate positively with the magnitude of the unemployment rate. This is caused by labor which one of important variable to keep growth in the real sector of the region. Meanwhile, the economic structure in districts of Jember showed an increase of economic activity began to shift towards the industrial sector and some other economic sectors, so they have an affects to considerations for policy makers to increase economic growth in Jember as an autonomous region in East Java Province. At the fact, SMEs is among the factors driving economic growth in the region. This is shown by the high amount of SMEs. However, employment in the sector grew slightly slowed. It is caused by a lack of productivity in SMEs. Through the analysis of the transformation of economic structure theory, and the theory of Triple Helix using descriptive analytical method Location Quotient and Shift - Share, found that the results of the economic structure in Jember slowly shifting from the agricultural sector to the industrial sector, because it is dominated by trade sector, hotel and restaurant sector. In addition, SMEs is the potential sector of economic growth in Jember. While to maximizing role and functions of the institution's Research and Development Center of SMEs, there are three points to be known, that are Business Landscape, Business Architecture and Value Added.

Keywords: Economic Growth, SMEs, Labor, Research and Development Center of SMEs.

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3910 Governance and Economic Growth: Evidence of Ten Asian Countries

Authors: Chiung-Ju Huang

Abstract:

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

Keywords: Economic growth, frequency domain, governance, Granger causality.

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3909 Impact of Regulation on Trading in Financial Derivatives in Europe

Authors: H. Florianová, J. Nešleha

Abstract:

Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: Capital markets, financial derivatives, investors' behavior, regulation.

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3908 How the Kinematic Swimming of European Eel Anguilla Anguilla Changes from Axial to Non-axial Velocity Flow

Authors: Younes Matar, Fabien Candelier, Camille Solliec

Abstract:

The aim of this study is to investigate the kinematics of undulatory elongated fish swimming against a velocity flow. We perform the experiments on European eel Anguilla Anguilla swimming in a hydrodynamic re-circulating tank with the velocity flow fixed at 0.2 m/s. We find that the undulating shape of overall eel body changes when it swims slantwise from the flow direction, by comparison to axial undulation shape. We examine this kinematics and we propose a general equation describing the lateral position of undulation body taking into account the direction of the eel-s swimming.

Keywords: Undulatory swimming, maneuver, eel Anguilla Anguilla, biomechanic.

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3907 Optimal Assessment of Faulted Area around an Industrial Customer for Critical Sag Magnitudes

Authors: Marios N. Moschakis

Abstract:

This paper deals with the assessment of faulted area around an industrial customer connected to a particular electric grid that will cause a certain sag magnitude on this customer. The faulted (critical or exposed) area’s length is calculated by adding all line lengths in the neighborhood of the critical node (customer). The applied method is the so-called Method of Critical Distances. By using advanced short-circuit analysis, the Critical Area can be accurately calculated for radial and meshed power networks due to all symmetrical and asymmetrical faults. For the demonstration of the effectiveness of the proposed methodology, a study case is used.

Keywords: Critical area, fault-induced voltage sags, industrial customers, power quality.

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3906 European Ecological Network Natura 2000 - Opportunities and Threats

Authors: Adam Niewiadomski

Abstract:

The research objective of the project and article “European Ecological Network Natura 2000 – opportunities and threats” Natura 2000 sites constitute a form of environmental protection, several legal problems are likely to result. Most controversially, certain sites will be subject to two regimes of protection: as national parks and as Natura 2000 sites. This dualism of the legal regulation makes it difficult to perform certain legal obligations related to the regimes envisaged under each form of environmental protection. Which regime and which obligations resulting from the particular form of environmental protection have priority and should prevail? What should be done if these obligations are contradictory? Furthermore, an institutional problem consists in that no public administration authority has the power to resolve legal conflicts concerning the application of a particular regime on a given site. There are also no criteria to decide priority and superiority of one form of environmental protection over the other. Which regulations are more important, those that pertain to national parks or to Natura 2000 sites? In the light of the current regulations, it is impossible to give a decisive answer to these questions. The internal hierarchy of forms of environmental protection has not been determined, and all such forms should be treated equally.

Keywords: Natura 2000, European Ecological Network.

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3905 An Improved Design of Area Efficient Two Bit Comparator

Authors: Shashank Gautam, Pramod Sharma

Abstract:

In present era, development of digital circuits, signal processors and other integrated circuits, magnitude comparators are challenged by large area and more power consumption. Comparator is most basic circuit that performs comparison. This paper presents a technique to design a two bit comparator which consumes less area and power. DSCH and MICROWIND version 3 are used to design the schematic and design the layout of the schematic, observe the performance parameters at different nanometer technologies respectively.

Keywords: Chip design, consumed power, layout area, two bit comparator.

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3904 A Review of the Theoretical Context of the Role of Innovation in Economic Development

Authors: Maria E. Eggink

Abstract:

It is the aim of this paper to place the role of innovation in economic development in its theoretical context through a literature review. The review compares classical economic theory and the neoclassical theories of “equilibrium in the markets” and “perfectly competitive markets” with the Schumpeterian theory. It was found that Schumpeter’s role in contributing towards economic development theories, and by creating awareness of the role of innovation in these theories is of immeasurable importance. His contribution led to a change in economic thinking, although this was only realized much later than when his theories were first published. The neo-Schumpeterian thinking expanded on the Schumpeterian theory by studying innovation within a system of interaction among different role players. Studies on innovation should be founded in the neo-Schumpeterian school of thought in order to accommodate the complexity of the innovation system concept.

Keywords: Economic development, evolutionary economics, innovation, Schumpeter.

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3903 Economic Effects of Maritime Environmental Legislation in the North and Baltic Sea Area: An Exploratory Sequential Mixed Methods Approach

Authors: Thea Freese

Abstract:

Environmental legislation to protect North and Baltic Sea areas from harmful vessel-source emissions has received increased political attention in recent years. Legislative measures are expected to show positive effects on the health of the marine environment and society. At the same time, compliance might increase the costs to industry and have effects on freight rates and volumes shipped with potential negative repercussions on the environment. Building on an exploratory sequential mixed methods approach, this research project will study the economic effects of maritime environmental legislation in two phases. In Phase I, exploratory in-depth interviews were conducted with 12 experts from various stakeholder groups aiming at identifying variables influencing the relationship between environmental legislation, freight rates and volumes shipped. Influencing factors like compliance, enforcement and modal shift were identified and studied. Phase II will comprise of a quantitative study conducted with the aim of verifying the theory build in Phase I and quantifying economic effects of rules on shipping pollution. Research in this field might inform policy-makers about determinants of behaviour of ship operators in the face of the law and might further the development of a comprehensive legal system for marine environmental protection. At the present stage of research, first tentative results from the qualitative phase may be examined and open research questions to be addressed in the quantitative phase as well as possible research designs for phase II may be discussed. Input from other researchers will be highly valuable at this point.

Keywords: Clean shipping operations, compliance, maritime environmental legislation, maritime law and economics, mixed methods research, North and Baltic Sea area.

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3902 Financial Sources and Instruments for Public Grants and Financial Facilities of Smes in EU

Authors: Simeon Karafolas, Maciej Woźniak

Abstract:

Mostly of public financing programs at national and regional level are funded from European Union sources. EU can participate directly to a national and regional program (example LEADER initiative, URBAN…) or indirectly by funding regional or national funds.Funds from European Union are provided from EU multiannual financial framework form which the annual budget is programmed. The adjusted program 2007-2013 of the EU considered commitments of almost 1 trillion Euros for the EU-28 countries. Provisions of the new program 2014-2020 consider commitments of more than 1 trillion Euros. Sustainable growth, divided to Cohesion and Competitiveness for Growth an Employment, is one of the two principal categories; the other is the preservation and management of natural resources.Through this financing process SMEs benefited of EU and public sources by receiving grants for their investments. Most of the financial instruments are available indirectly through the national financial intermediaries. Part of them is managed by the European Investment Fund.The paper focuses on the public financing to SMEs by examining case studies on divers forms of public help. It tries to distinguish the efficiency of the examined good practices and therefore try to have some conclusions on the possibility of application to other regions.

Keywords: DIFASS, financing, grants, SMEs.

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3901 External Effects on Dynamic Competitive Model of Domestic Airline and High Speed Rail

Authors: Shih-Ching Lo, Yu-Ping Liao

Abstract:

Social-economic variables influence transportation demand largely. Analyses of discrete choice model consider social-economic variables to study traveler-s mode choice and demand. However, to calibrate the discrete choice model needs to have plenty of questionnaire survey. Also, an aggregative model is proposed. The historical data of passenger volumes for high speed rail and domestic civil aviation are employed to calibrate and validate the model. In this study, models with different social-economic variables, which are oil price, GDP per capita, CPI and economic growth rate, are compared. From the results, the model with the oil price is better than models with the other social-economic variables.

Keywords: forecasting, passenger volume, dynamic competitive model, social-economic variables, oil price.

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3900 Impact of Financial System’s Development on Economic Development: An Empirical Investigation

Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.

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3899 Effect of Greywater Irrigation on Air-Water Interfacial area in Porous Medium

Authors: A. H. M. Faisal Anwar

Abstract:

In this study, the effect of greywater irrigation on airwater interfacial area is investigated. Several soil column experiments were conducted for different greywater irrigation to develop the pressure-saturation curves. Surface tension was measured for different greywater concentration and fitted for Gibbs adsorption equation. Pressure-saturation curves show that the reduction of capillary rise stops when it reaches its critical micelle concentration (CMC). A simple theory is derived from pressure-saturation curves for calculating air-water interfacial area in porous medium during greywater irrigation by introducing a term 'hydraulic radius' for the pores. This term diminishes any effect of pore shapes on the air-water interfacial area. The air-water interfacial area was calculated using the pressure-saturation curves and found that it decreases with increasing moisture content. But no significant effect was observed on air-water interfacial area for different greywater irrigation. A maximum of 10% variation in interfacial area was observed at the residual saturation zone.

Keywords: Greywater, Irrigation, Interfacial area, Surface tension, Porous medium.

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3898 The Recreation Technique Model from the Perspective of Environmental Quality Elements

Authors: G. Gradinaru, S. Olteanu

Abstract:

The quality improvements of the environmental elements could increase the recreational opportunities in a certain area (destination). The technique of the need for recreation focuses on choosing certain destinations for recreational purposes. The basic exchange taken into consideration is the one between the satisfaction gained after staying in that area and the value expressed in money and time allocated. The number of tourists in the respective area, the duration of staying and the money spent including transportation provide information on how individuals rank the place or certain aspects of the area (such as the quality of the environmental elements). For the statistical analysis of the environmental benefits offered by an area through the need of recreation technique, the following stages are suggested: - characterization of the reference area based on the statistical variables considered; - estimation of the environmental benefit through comparing the reference area with other similar areas (having the same environmental characteristics), from the perspective of the statistical variables considered. The model compared in recreation technique faced with a series of difficulties which refers to the reference area and correct transformation of time in money.

Keywords: Comparison in recreation technique, the quality of the environmental elements, statistical analysis model.

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3897 An Overview of Georgia’s Economic Growth Since 2012: Current Status, Challenges, and Opportunities for Future Development

Authors: V. Benidze

Abstract:

After the Rose Revolution of 2003, Georgia has achieved an unparalleled socioeconomic success. However, economic growth since 2012 has been sluggish and certainly not enough to rapidly improve the county’s standard of living that still remains substantially low compared to that in developed nations. Recent poor economic performance has shown that some key challenges need to be addressed if Georgia is to achieve high future economic growth that will decrease the poverty rate and create a middle class in the country. This paper offers in detail analysis of the economic performance of Georgia since 2012 and identifies key challenges facing the country’s economy. The main challenge going forward will be transforming Georgia from a consumption-driven to a production-oriented economy. It is identified that mobilizing domestic investment through savings, attracting foreign investment in tradable sectors and expanding the country’s export base will be crucial in the facilitation of the above-mentioned structural transformation. As the outcome of the research, the paper suggests a strategy for accelerating Georgia’ future economic growth and offers recommendations based on the relevant conclusions.

Keywords: Challenges, development, economic growth, economic policy, Georgia.

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3896 An Analysis of Economic Capital Allocation of Global Banks

Authors: Petr Teply, Ondrej Vejdovec

Abstract:

There are three main ways of categorizing capital in banking operations: accounting, regulatory and economic capital. However, the 2008-2009 global crisis has shown that none of these categories adequately reflects the real risks of bank operations, especially in light of the failures Bear Stearns, Lehman Brothers or Northern Rock. This paper deals with the economic capital allocation of global banks. In theory, economic capital should reflect the real risks of a bank and should be publicly available. Yet, as discovered during the global financial crisis, even when economic capital information was publicly disclosed, the underlying assumptions rendered the information useless. Specifically, some global banks that reported relatively high levels of economic capital before the crisis went bankrupt or had to be bailed-out by their government. And, only 15 out of 50 global banks reported their economic capital during the 2007-2010 period. In this paper, we analyze the changes in reported bank economic capital disclosure during this period. We conclude that relative shares of credit and business risks increased in 2010 compared to 2007, while both operational and market risks decreased their shares on the total economic capital of top-rated global banks. Generally speaking, higher levels of disclosure and transparency of bank operations are required to obtain more confidence from stakeholders. Moreover, additional risks such as liquidity risks should be included in these disclosures.

Keywords: global crisis, economic capital, risk management, risk allocation, bank

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3895 Optimizing the Project Delivery Time with Time Cost Trade-offs

Authors: Wei Lo, Ming-En Kuo

Abstract:

While to minimize the overall project cost is always one of the objectives of construction managers, to obtain the maximum economic return is definitely one the ultimate goals of the project investors. As there is a trade-off relationship between the project time and cost, and the project delivery time directly affects the timing of economic recovery of an investment project, to provide a method that can quantify the relationship between the project delivery time and cost, and identify the optimal delivery time to maximize economic return has always been the focus of researchers and industrial practitioners. Using genetic algorithms, this study introduces an optimization model that can quantify the relationship between the project delivery time and cost and furthermore, determine the optimal delivery time to maximize the economic return of the project. The results provide objective quantification for accurately evaluating the project delivery time and cost, and facilitate the analysis of the economic return of a project.

Keywords: Time-Cost Trade-Off, Genetic Algorithms, Resource Integration, Economic return.

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3894 Is China Replacing US in the International Monetary System?

Authors: Shahzadah Fahad Qureshi, Jianqing Zhang

Abstract:

The wisest economic decision of United States in the 20th century was establishing the favorable international monetary system, and capturing the leadership position in it. This decision gave economic hegemony to the US for the next more than 7 decades. The continuation of this hegemony till the next decade seems difficult as the US economy is under continuous streams of recessions since 2007. On the other hand, Chinese economy is progressing with a very fast speed and is estimated to pass the US economy till 2025, in various aspects. Will the US be able to continue its leadership in the IMS? Will China replace US in the international monetary system? The answers to these questions have been explored by comparing the economic competitiveness of US and China, with respect to each other. The paper concludes that the change in global economic environment will compel US to share the leadership of international monetary system with China. This sharing will solve most problems of the current IMS, but will also birth some new problems.

Keywords: Economic competitiveness, Global economic environment (GEE), International monetary fund (IMF), International monetary system (IMS)

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3893 The Application of Regulatory Impact Assessment (RIA) on the Czech Financial Market

Authors: Jana Chvalkovska, Petr Jansky, Petr Teply

Abstract:

The impact assessment in its various forms has recently become a very important part of policy-making and legislation in many different countries. Regulatory impact assessment (RIA) is yet another set of analytical methods deployed in the legislation of the European Union, of many developed countries as well as in many developing ones such as Mexico, Malaysia and Philippines. The aim of this paper is to provide a theoretical background for economic models in regulatory impact assessment and an overview of their application especially on the financial market in the Czech Republic. We found out an inadequate application of these models, what makes room for further research in this field.

Keywords: regulatory impact assessment, RIA, impact evaluation, building societies, Czech Republic

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3892 Maternal Health Outcome and Economic Growth in Sub-Saharan Africa: A Dynamic Panel Analysis

Authors: Okwan Frank

Abstract:

Maternal health outcome is one of the major population development challenges in Sub-Saharan Africa. The region has the highest maternal mortality ratio, despite the progressive economic growth in the region during the global economic crisis. It has been hypothesized that increase in economic growth will reduce the level of maternal mortality. The purpose of this study is to investigate the existence of the negative relationship between health outcome proxy by maternal mortality ratio and economic growth in Sub-Saharan Africa. The study used the Pooled Mean Group estimator of ARDL Autoregressive Distributed Lag (ARDL) and the Kao test for cointegration to examine the short-run and long-run relationship between maternal mortality and economic growth. The results of the cointegration test showed the existence of a long-run relationship between the variables considered for the study. The long-run result of the Pooled Mean group estimates confirmed the hypothesis of an inverse relationship between maternal health outcome proxy by maternal mortality ratio and economic growth proxy by Gross Domestic Product (GDP) per capita. Thus increasing economic growth by investing in the health care systems to reduce pregnancy and childbirth complications will help reduce maternal mortality in the sub-region.

Keywords: Economic growth, maternal mortality, pool mean group, Sub-Saharan Africa.

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3891 Towards the Use of Renewable Energy Sources in the Home

Authors: Adriana Alexandru, Elena Jitaru, Rayner Mayer

Abstract:

The paper presents the results of the European EIE project “Realising the potential for small scale renewable energy sources in the home – Kyotointhehome". The project's global aim is to inform and educate teachers, students and their families so that they can realise the need and can assess the potential for energy efficiency (EE) measures and renewable energy sources (RES) in their homes. The project resources were translated and trialled by 16 partners in 10 European countries. A web-based methodology which will enable families to assess how RES can be incorporated into energy efficient homes was accomplished. The web application “KYOTOINHOME" will help the citizens to identify what they can do to help their community meet the Kyoto target for greenhouse gas reductions and prevent global warming. This application provides useful information on how the citizens can use renewable energy sources in their home to provide space heating and cooling, hot water and electricity. A methodology for assessing heat loss in a dwelling and application of heat pump system was elaborated and will be implemented this year. For schools, we developed a set of practical activities concerned with preventing climate change through using renewable energy sources. Complementary resources will also developed in the Romanian research project “Romania Contribution to the European Targets Regarding the Development of Renewable Energy Sources" - PROMES.

Keywords: Education, energy policy, Internet, renewable energy sources.

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3890 Cost Analysis of Hybrid Wind Energy Generating System Considering CO2 Emissions

Authors: M. A. Badr, M.N. El Kordy, A. N. Mohib, M. M. Ibrahim

Abstract:

The basic objective of the research is to study the effect of hybrid wind energy on the cost of generated electricity considering the cost of reduction CO2 emissions. The system consists of small wind turbine(s), storage battery bank and a diesel generator (W/D/B). Using an optimization software package, different system configurations are investigated to reach optimum configuration based on the net present cost (NPC) and cost of energy (COE) as economic optimization criteria. The cost of avoided CO2 is taken into consideration. The system is intended to supply the electrical load of a small community (gathering six families) in a remote Egyptian area. The investigated system is not connected to the electricity grid and may replace an existing conventional diesel powered electric supply system to reduce fuel consumption and CO2 emissions. The simulation results showed that W/D energy system is more economic than diesel alone. The estimated COE is 0.308$/kWh and extracting the cost of avoided CO2, the COE reached 0.226 $/kWh which is an external benefit of wind turbine, as there are no pollutant emissions through operational phase.

Keywords: Hybrid wind turbine systems, remote areas electrification, simulation of hybrid energy systems, techno-economic study.

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3889 The Economic Lot Scheduling Problem in Flow Lines with Sequence-Dependent Setups

Authors: M. Heydari, S. A. Torabi

Abstract:

The problem of lot sizing, sequencing and scheduling multiple products in flow line production systems has been studied by several authors. Almost all of the researches in this area assumed that setup times and costs are sequence –independent even though sequence dependent setups are common in practice. In this paper we present a new mixed integer non linear program (MINLP) and a heuristic method to solve the problem in sequence dependent case. Furthermore, a genetic algorithm has been developed which applies this constructive heuristic to generate initial population. These two proposed solution methods are compared on randomly generated problems. Computational results show a clear superiority of our proposed GA for majority of the test problems.

Keywords: Economic lot scheduling problem, finite horizon, genetic algorithm, mixed zero-one nonlinear programming, sequence-dependent.

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