Search results for: foreign real estate investment

Authors: Z. Noranai, M.Z. Md Yusof

Abstract:

Building Sector is the major electricity consumer and it is costly to building owners. Therefore the application of thermal energy storage (TES) has gained attractive to reduce energy cost. Many attractive tariff packages are being offered by the electricity provider to promote TES. The tariff packages offered higher cost of electricity during peak period and lower cost of electricity during off peak period. This paper presented the return of initial investment by implementing a centralized air-conditioning plant integrated with thermal energy storage with partially operation strategies. Building load profile will be calculated hourly according to building specification and building usage trend. TES operation conditions will be designed according to building load demand profile, storage capacity, tariff packages and peak/off peak period. The Payback Period analysis method was used to evaluate economic analysis. The investment is considered a good investment where by the initial cost is recovered less than ten than seven years.

Keywords: building load profile, energy consumption, payback period, thermal energy storage

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Authors: Xiangbin Zhu

Abstract:

Advances in computing applications in recent years have prompted the demand for more flexible scheduling models for QoS demand. Moreover, in practical applications, partly violated temporal constraints can be tolerated if the violation meets certain distribution. So we need extend the traditional Liu and Lanland model to adapt to these circumstances. There are two extensions, which are the (m, k)-firm model and Window-Constrained model. This paper researches on weakly hard real-time constraints and their combination to support QoS. The fact that a practical application can tolerate some violations of temporal constraint under certain distribution is employed to support adaptive QoS on the open real-time system. The experiment results show these approaches are effective compared to traditional scheduling algorithms.

Keywords: Weakly Hard Real-Time, Real-Time, Scheduling, Quality of Service.

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Authors: Se Ho Choi, Jong Pil Yun, Boyeul Seo, YoungSu Park, Sang Woo Kim

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This paper presents a real-time defect detection algorithm for high-speed steel bar in coil. Because the target speed is very high, proposed algorithm should process quickly the large volumes of image for real-time processing. Therefore, defect detection algorithm should satisfy two conflicting requirements of reducing the processing time and improving the efficiency of defect detection. To enhance performance of detection, edge preserving method is suggested for noise reduction of target image. Finally, experiment results show that the proposed algorithm guarantees the condition of the real-time processing and accuracy of detection.

Keywords: Defect detection, edge preserving filter, real-time image processing, surface inspection.

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Authors: Zhongzhen Luo, Saeid Habibi, Martin v. Mohrenschildt

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Self-driving vehicle require a high level of situational awareness in order to maneuver safely when driving in real world condition. This paper presents a LiDAR based real time perception system that is able to process sensor raw data for multiple target detection and tracking in dynamic environment. The proposed algorithm is nonparametric and deterministic that is no assumptions and priori knowledge are needed from the input data and no initializations are required. Additionally, the proposed method is working on the three-dimensional data directly generated by LiDAR while not scarifying the rich information contained in the domain of 3D. Moreover, a fast and efficient for real time clustering algorithm is applied based on a radially bounded nearest neighbor (RBNN). Hungarian algorithm procedure and adaptive Kalman filtering are used for data association and tracking algorithm. The proposed algorithm is able to run in real time with average run time of 70ms per frame.

Keywords: LiDAR, real-time system, clustering, tracking, data association.

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Authors: I. Rodionov, A. Semenov, E. Gosteva, O. Sokolova

Abstract:

The venture capital becomes more and more advanced and effective source of the innovation project financing, connected with a high-risk level. In the developed countries, it plays a key role in transforming innovation projects into successful businesses and creating the prosperity of the modern economy. In Russia, there are many necessary preconditions for creation of the effective venture investment system: the network of the public institutes for innovation financing operates; there is a significant number of the small and medium-sized enterprises, capable to sell production with good market potential. However, the current system does not confirm the necessary level of efficiency in practice that can be substantially explained by the absence of the accurate plan of action to form the national venture model and by the lack of experience of successful venture deals with profitable exits in Russian economy. This paper studies the influence of various factors on the venture industry development by the example of the IT-sector in Russia. The choice of the sector is based on the fact, that this segment is the main driver of the venture capital market growth in Russia, and the necessary set of data exists. The size of investment of the second round is used as the dependent variable. To analyse the influence of the previous round, such determinant as the volume of the previous (first) round investments is used. There is also used a dummy variable in regression to examine that the participation of an investor with high reputation and experience in the previous round can influence the size of the next investment round. The regression analysis of short-term interrelations between studied variables reveals prevailing influence of the volume of the first round investments on the venture investments volume of the second round. The most important determinant of the value of the second-round investment is the value of first–round investment, so it means that the most competitive on the Russian market are the start-up teams that can attract more money on the start, and the target market growth is not the factor of crucial importance. This supports the point of view that VC in Russia is driven by endogenous factors and not by exogenous ones that are based on global market growth.

Keywords: Venture industry, venture investment, determinants of the venture sector development, IT-sector.

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Authors: Zhang Xiaodong, Tang Zixin, Liu Xin

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In order to avoid self-collision of space manipulators during operation process, a real-time detection method is proposed in this paper. The manipulator is fitted into a cylinder-enveloping surface, and then, a kind of detection algorithm of collision between cylinders is analyzed. The collision model of space manipulator self-links can be detected by using this algorithm in real-time detection during the operation process. To ensure security of the operation, a safety threshold is designed. The simulation and experiment results verify the effectiveness of the proposed algorithm for a 7-DOF space manipulator.

Keywords: Space manipulator, Collision detection, Self-collision, the real-time collision detection.

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Authors: Lucian J. Pitt

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The primary purpose of this study is to understand the differences in the relationship between working capital management efficiency, working capital investment decisions and working capital finance decisions and the profitability of firms within the context of two African developing economies, Kenya and Nigeria. The study finds that there is a significant difference in the relationship between the firm’s profitability and the working capital variables which suggests different challenges for working capital management in each of these countries.

Keywords: Working Capital Management, Working Capital Investment, Working Capital Finance, Profitability, Cash Conversion Cycle.

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Authors: Nobue T. Ellis

Abstract:

This preliminary study attempts to see if a learning environment influences instructor’s teaching strategies and learners’ in-class activities in a foreign language class at a university in Japan. The class under study was conducted in a computer room, while the majority of classes of the same course were offered in traditional classrooms without computers. The study also sees if the unplanned blended learning environment, enhanced, or worked against, in achieving course goals, by paying close attention to in-class artefacts, such as computers. In the macro-level analysis, the course syllabus and weekly itinerary of the course were looked at; and in the microlevel analysis, nonhuman actors in their environments were named and analyzed to see how they influenced the learners’ task processes. The result indicated that students were heavily influenced by the presence of computers, which lead them to disregard some aspects of intended learning objectives.

Keywords: Computer-assisted language learning, actor-network theory, English as a foreign language, task-based teaching.

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Authors: Heungsu Lee, Youngseok Kim, Jonghwa Yi, Chul Park

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A landing pier is subjected to safety assessment by visual inspection and design data, but it is difficult to check the damage in real-time. In this study, real - time damage detection and safety evaluation methods were studied. As a result of structural analysis of the arbitrary landing pier structure, the inflection point of deformation and moment occurred at 10%, 50%, and 90% of pile length. The critical value of Fiber Bragg Grating (FBG) sensor was set according to the safety factor, and the FBG sensor application method for real - time safety evaluation was derived.

Keywords: FBG sensor, harbor structure, maintenance, safety evaluation system.

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Authors: Zakaria Smahi, Khadidja Remaoun, Fatima Achouri

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Bir El Djir is an important coastal township in Oran department, located at 450 Km far away from Algiers on northwest of Algeria. In this coastal area, the urban sprawl is one of the main problems that reduce the limited highly fertile land. So, using the remote sensing and GIS technologies have shown their great capabilities to solve many earth resources issues. The aim of this study is to produce land use and cover map for the studied area at varied periods to monitor possible changes that may occurred, particularly in the urban areas and subsequently predict likely changes. For this, two spatial images SPOT and Landsat satellites from 1987 and 2014 respectively were used to assess the changes of urban expansion and encroachment during this period with photo-interpretation and GIS approach. The results revealed that the town of Bir El Djir has shown a highest growth rate in the period 1987-2014 which is 1201.5 hectares in terms of area. These expansions largely concern the new real estate constructions falling within the social and promotional housing programs launched by the government. The most urban expansion is characterized by the new construction in the form of spontaneous or peripheral precarious habitat, but also unstructured slums settled especially in the southeastern part of town.

Keywords: Urban expansion, Remote Sensing, Photointerpretation, Spatial dynamics.

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Authors: Anouch Mkhitarian

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The article examines an opportunity of corruption restriction exercised by international business community in Russia. Integration of Russian economy into the international business does not reduce corruption inside the country. Foreign actors investing in Russia under the condition of obtaining their required rates of returns will be reluctant to harm their investments by involving into anticorruption activities. Furthermore, many Russian firms- competitive advantage could be directly related to their corruption connections. In this case, foreign investments would only accentuate corrupt companies- success by supporting them financially

Keywords: Corrution, FDI, Russian Federation

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Authors: M. Priscila Ramos, Omar O. Chisari, Juan Pablo Vila Martínez

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Current literature about trade liberalization of environmental goods and services (EGS) raises doubts about the extent of the triple win-win situation for trade, development and the environment. However, much of this literature does not consider the possibility that this agreement carries technological transmissions, either through trade or foreign direct investment. This paper presents a computable general equilibrium model calibrated for Argentina, where there are alternative technologies (one dirty and one clean according to carbon emissions) to produce the same goods. In this context, the trade liberalization of EGS allows to increase GDP, trade, reduce unemployment and improve the households welfare. However, the capital mobility appears as the key assumption to jointly reach the environmental target, when the positive scale effect generated by the increase in trade is offset by the change in the composition of production (composition and technical effects by the use of the clean alternative technology) and of consumption (composition effect by substitution of relatively lesspolluting imported goods).

Keywords: CGE modeling, CO2 emissions, composition effect, scale effect, technique effect, trade liberalization of EGS.

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Authors: Philippe Fauquet-Alekhine, Elena Fauquet-Alekhine-Pavlovskaia

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On the basis of questionnaires and interviews of two samples of subjects (French and Anglo-Saxon) for which two food products were presented (one of the subject’s country and one of the foreign country), we have shown how consumers could be sensitive to the label or brand written on the package of the food product. Furthermore, in the light of Intersubjectivity theory, we have shown the necessity for the consumer to find congruence between the direct and meta perspective towards the product for which the producer and especially the marketer is responsible. Taking into account these findings may help to avoid the commercial failure of a brand while exported abroad.

Keywords: Brand, failure, food industry.

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Authors: Amadi Ugwulo Chinyere, Lewis D. Gbarayorks, Emem N. H. Inamete

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In this paper, the mandatory contribution, additional voluntary contribution (AVC) and administrative charges are merged together to determine the optimal investment strategy (OIS) for a pension plan member (PPM) in a defined contribution (DC) pension scheme under the modified constant elasticity of variance (M-CEV) model. We assume that the voluntary contribution is a stochastic process and a portfolio consisting of one risk free asset and one risky asset modeled by the M-CEV model is considered. Also, a stochastic differential equation consisting of PPM’s monthly contributions, voluntary contributions and administrative charges is obtained. More so, an optimization problem in the form of Hamilton Jacobi Bellman equation which is a nonlinear partial differential equation is obtained. Using power transformation and change of variables method, an explicit solution of the OIS and the value function are obtained under constant absolute risk averse (CARA). Furthermore, numerical simulations on the impact of some sensitive parameters on OIS were discussed extensively. Finally, our result generalizes some existing result in the literature.

Keywords: DC pension fund, modified constant elasticity of variance, optimal investment strategies, voluntary contribution, administrative charges.

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Authors: Pisit Potjanajaruwit

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The objectives of the study were to determine the marketing mix factors that influencing tourist’s destination decision making for cultural tourism in the Chonburi province. Both quantitative and qualitative data were applied in this study. The samples of 400 cases for quantitative analysis were tourists (both Thai and foreign) who were interested in cultural tourism in the Chonburi province, and traveled to cultural sites in Chonburi and 14 representatives from provincial tourism committee of Chonburi and local tourism experts. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. The study found that Thai and foreign tourists are influenced by different important marketing mix factors. The important factors for Thai respondents were physical evidence, price, people, and place at high importance level. For foreign respondents, physical evidence, price, people, and process were high importance level, whereas, product, place and promotion were moderate importance level.

Keywords: Chonburi Province, Decision Making for cultural tourism, Marketing Mixed.

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Authors: Siqing S. Chen

Abstract:

Landscape connectivity combines a description of the physical structure of the landscape with special species- response to that structure, which forms the theoretical background of applying landscape connectivity principles in the practices of landscape planning and design. In this study, a residential development project in the southern United States was used to explore the meaning of landscape connectivity and its application in town planning. The vast rural landscape in the southern United States is conspicuously characterized by the hedgerow trees or groves. The patchwork landscape of fields surrounded by high hedgerows is a traditional and familiar feature of the American countryside. Hedgerows are in effect linear strips of trees, groves, or woodlands, which are often critical habitats for wildlife and important for the visual quality of the landscape. Based on geographic information system (GIS) and statistical analysis (FRAGSTAT), this study attempts to quantify the landscape connectivity characterized by hedgerows in south Alabama where substantial areas of authentic hedgerow landscape are being urbanized due to the ever expanding real estate industry and high demand for new residential development. The results of this study shed lights on how to balance the needs of new urban development and biodiversity conservation by maintaining a higher level of landscape connectivity, thus will inform the design intervention.

Keywords: Biodiversity, Connectivity, Landscape planning, GIS

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Authors: Yuki Kondo, Takanori Nagano, Yuki Takeda, Young-Bok Choi, Hiromi Okada

Abstract:

Optical burst switching(OBS) is considered as one of preferable network technologies for the next generation Internet. The Internet has two traffic classes, i.e. real-time bursts and reliable bursts. It is an important subject for OBS to achieve cooperated operation of real-time bursts and reliable bursts. In this paper, we proposes a new effective traffic control method named Separate TB+LB (Token Bucket + Leaky Bucket : TB+LB) method. The proposed method presents a new Token Bucket scheme for real-time bursts called as RBO-TB (Real-time Bursts Oriented Token Bucket). The method also applies the LB method to reliable bursts for obtaining better performance. This paper verifies the effectiveness of the Separate TB+LB method through the performance evaluation.

Keywords: leaky bucket, OBS, traffic control, token bucket.

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Authors: Liu Ning, Zhong Chongquan, Teng Hongfei

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EPA (Ethernet for Plant Automation) resolves the nondeterministic problem of standard Ethernet and accomplishes real-time communication by means of micro-segment topology and deterministic scheduling mechanism. This paper studies the real-time performance of EPA periodic data transmission from theoretical and experimental perspective. By analyzing information transmission characteristics and EPA deterministic scheduling mechanism, 5 indicators including delivery time, time synchronization accuracy, data-sending time offset accuracy, utilization percentage of configured timeslice and non-RTE bandwidth that can be used to specify the real-time performance of EPA periodic data transmission are presented and investigated. On this basis, the test principles and test methods of the indicators are respectively studied and some formulas for real-time performance of EPA system are derived. Furthermore, an experiment platform is developed to test the indicators of EPA periodic data transmission in a micro-segment. According to the analysis and the experiment, the methods to improve the real-time performance of EPA periodic data transmission including optimizing network structure, studying self-adaptive adjustment method of timeslice and providing data-sending time offset accuracy for configuration are proposed.

Keywords: EPA system, Industrial Ethernet, Periodic data, Real-time performance

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Authors: Stephan Printz, Kristina Lahl, René Vossen, Sabina Jeschke

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Strategic investment decisions are characterized by high innovation potential and long-term effects on the competitiveness of enterprises. Due to the uncertainty and risks involved in this complex decision making process, the need arises for well-structured support activities. A method that considers cost and the long-term added value is the cost-benefit effectiveness estimation. One of those methods is the “profitability estimation focused on benefits – PEFB”-method developed at the Institute of Management Cybernetics at RWTH Aachen University. The method copes with the challenges associated with strategic investment decisions by integrating long-term non-monetary aspects whilst also mapping the chronological sequence of an investment within the organization’s target system. Thus, this method is characterized as a holistic approach for the evaluation of costs and benefits of an investment. This participation-oriented method was applied to business environments in many workshops. The results of the workshops are a library of more than 96 cost aspects, as well as 122 benefit aspects. These aspects are preprocessed and comparatively analyzed with regards to their alignment to a series of risk levels. For the first time, an accumulation and a distribution of cost and benefit aspects regarding their impact and probability of occurrence are given. The results give evidence that the PEFB-method combines precise measures of financial accounting with the incorporation of benefits. Finally, the results constitute the basics for using information technology and data science for decision support when applying within the PEFB-method.

Keywords: Cost-benefit analysis, multi-criteria decision, profitability estimation focused on benefits, risk and uncertainty analysis.

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Authors: Paula Verdugo-Hernández, Patricio Cumsille

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We analyze a first-class on the convergence of real number sequences, named hereafter sequences, to foster exploration and discovery of concepts through graphical representations before engaging students in proving. The main goal was to differentiate between sequences and continuous functions-of-a-real-variable and better understand concepts at an initial stage. We applied the analytic frame of Mathematical Working Spaces, which we expect to contribute to extending to sequences since, as far as we know, it has only developed for other objects, and which is relevant to analyze how mathematical work is built systematically by connecting the epistemological and cognitive perspectives, and involving the semiotic, instrumental, and discursive dimensions.

Keywords: Convergence, graphical representations, Mathematical Working Spaces, paradigms of real analysis, real number sequences.

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Authors: M. Y. Lee, D. H. Shin, S. H. Park, W.C. Ham, S.K. Ko, C. G. Song

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Photoacoustic Tomography (PAT) is a promising medical imaging modality that combines optical imaging contrast with the spatial resolution of ultrasound imaging. It can also distinguish the changes in biological features. But, real-time PAT system should be confirmed due to photoacoustic effect for tissue. Thus, we have developed a real-time PAT system using a custom-developed data acquisition board and ultrasound linear probe. To evaluate performance of our system, phantom test was performed. As a result of those experiments, the system showed satisfactory performance and its usefulness has been confirmed. We monitored the degradation of inflammation which induced on the rat’s kidney using real-time PAT.

Keywords: Photoacoustic tomography, inflammation detection, rat, kidney, contrast agent, ultrasound.

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Authors: Sahar Sohrabi

Abstract:

The emergence of Cloud data centers has revolutionized the IT industry. Private Clouds in specific provide Cloud services for certain group of customers/businesses. In a real-time private Cloud each task that is given to the system has a deadline that desirably should not be violated. Scheduling tasks in a real-time private CLoud determine the way available resources in the system are shared among incoming tasks. The aim of the scheduling policy is to optimize the system outcome which for a real-time private Cloud can include: energy consumption, deadline violation, execution time and the number of host switches. Different scheduling policies can be used for scheduling. Each lead to a sub-optimal outcome in a certain settings of the system. A Bayesian Scheduling strategy is proposed for scheduling to further improve the system outcome. The Bayesian strategy showed to outperform all selected policies. It also has the flexibility in dealing with complex pattern of incoming task and has the ability to adapt.

Keywords: Bayesian, cloud computing, real-time private cloud, scheduling.

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Authors: Ali Nadi, Ali Edrissi

Abstract:

Relief demand and transportation links availability is the essential information that is needed for every natural disaster operation. This information is not in hand once a disaster strikes. Relief demand and network condition has been evaluated based on prediction method in related works. Nevertheless, prediction seems to be over or under estimated due to uncertainties and may lead to a failure operation. Therefore, in this paper a stochastic programming model is proposed to evaluate real-time relief demand and network condition at the onset of a natural disaster. To address the time sensitivity of the emergency response, the proposed model uses reinforcement learning for optimization of the total relief assessment time. The proposed model is tested on a real size network problem. The simulation results indicate that the proposed model performs well in the case of collecting real-time information.

Keywords: Disaster management, real-time demand, reinforcement learning, relief demand.

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Authors: Hala Abdel hameed, Hazem M. El-Bakry, Torky Sultan

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There are many issues that affect modeling and designing real-time databases. One of those issues is maintaining consistency between the actual state of the real-time object of the external environment and its images as reflected by all its replicas distributed over multiple nodes. The need to improve the scalability is another important issue. In this paper, we present a general framework to design a replicated real-time database for small to medium scale systems and maintain all timing constrains. In order to extend the idea for modeling a large scale database, we present a general outline that consider improving the scalability by using an existing static segmentation algorithm applied on the whole database, with the intent to lower the degree of replication, enables segments to have individual degrees of replication with the purpose of avoiding excessive resource usage, which all together contribute in solving the scalability problem for DRTDBS.

Keywords: Database modeling, Distributed database, Real time databases, Replication

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Authors: Hussain Syed Asad, Richard Kwok Kit Yuen, Gongsheng Huang

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Real-time optimization has been considered an effective approach for improving energy efficient operation of heating, ventilation, and air-conditioning (HVAC) systems. In model-based real-time optimization, model mismatches cannot be avoided. When model mismatches are significant, the performance of the real-time optimization will be impaired and hence the expected energy saving will be reduced. In this paper, the model mismatches for chiller plant on real-time optimization are considered. In the real-time optimization of the chiller plant, simplified semi-physical or grey box model of chiller is always used, which should be identified using available operation data. To overcome the model mismatches associated with the chiller model, hybrid Genetic Algorithms (HGAs) method is used for online real-time training of the chiller model. HGAs combines Genetic Algorithms (GAs) method (for global search) and traditional optimization method (i.e. faster and more efficient for local search) to avoid conventional hit and trial process of GAs. The identification of model parameters is synthesized as an optimization problem; and the objective function is the Least Square Error between the output from the model and the actual output from the chiller plant. A case study is used to illustrate the implementation of the proposed method. It has been shown that the proposed approach is able to provide reliability in decision making, enhance the robustness of the real-time optimization strategy and improve on energy performance.

Keywords: Energy performance, hybrid adaptive modeling, hybrid genetic algorithms, real-time optimization, heating, ventilation, and air-conditioning.

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Authors: Ilhan Keskin, Hasan Bulent Kantarcı

Abstract:

In this study, one of the tools of Islamic financing known as “Sukuk” a non-interest bearing investment which has started to be implemented in Turkey and the world as a whole is discussed. In order to increase the vitality and efficiency of the economy, by taking lessons from the recent economic crisis new developments in the banking and investment sector are being expanded. The purpose of all investors is to obtain more revenue through the use of capital. The inability of traditional investment tools to meet the expectations of investors and the interest based financial system where one investor benefits at the expense of another there has been the need for a different, reliable and noninterest bearing financial market that is consistent with the Islamic rule. As a result an alternative and more reliable interest free financing tool “Sukuk” rental certificates covering people who are sensitive to Islamic rules, appeal to all segments, hidden remaining capital that contributes to the economy, reduce disparities in income distribution, common risk sharing system of profit and loss sharing has emerged. Today, for the structural countries by examining the state of the world market economy the applicability, enactment and future issues associated with this attractive kind of Islamic finance namely the “Sukuk” market has been explained.

Keywords: Islamic finance, Islamic markets, non-interest bearing, rental certificates.

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Authors: Chiung-ying Lee, Chia-hua Chang

Abstract:

In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.

Keywords: Financial reference database, Financial early warning model, Logistic Regression.

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Authors: Laurenţiu Militeanu, Cristina Gena Dascâlu, D. Cristea

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The human head representations usually are based on the morphological – structural components of a real model. Over the time became more and more necessary to achieve full virtual models that comply very rigorous with the specifications of the human anatomy. Still, making and using a model perfectly fitted with the real anatomy is a difficult task, because it requires large hardware resources and significant times for processing. That is why it is necessary to choose the best compromise solution, which keeps the right balance between the details perfection and the resources consumption, in order to obtain facial animations with real-time rendering. We will present here the way in which we achieved such a 3D system that we intend to use as a base point in order to create facial animations with real-time rendering, used in medicine to find and to identify different types of pathologies.

Keywords: 3D models, virtual reality.

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Authors: J. Arneric, E. Jurun, L. Kordic

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This paper deals with econometric analysis of real retail trade turnover. It is a part of an extensive scientific research about modern trends in Croatian national economy. At the end of the period of transition economy, Croatia confronts with challenges and problems of high consumption society. In such environment as crucial economic variables: real retail trade turnover, average monthly real wages and household loans are chosen for consequence analysis. For the purpose of complete procedure of multiple econometric analysis data base adjustment has been provided. Namely, it has been necessary to deflate original national statistics data of retail trade turnover using consumer price indices, as well as provide process of seasonally adjustment of its contemporary behavior. In model establishment it has been necessary to involve the overcoming procedure for the autocorrelation and colinearity problems. Moreover, for case of time-series shift a specific appropriate econometric instrument has been applied. It would be emphasize that the whole methodology procedure is based on the real Croatian national economy time-series.

Keywords: Consumption society, multiple econometric model, real retail trade turnover, second order autocorrelation.

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Authors: Jorge A. Schiavon

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This article analyzes the international relations of sub-State governments (IRSSG) in Mexico. It aims to answer five questions: 1) What explains the recent and dramatic increase in their international activities? 2) What is the impact of federalism on the foreign affairs of the federal units? 3) What are the levels or degrees of IRSSG and how have they changed over the last years? 4) How do Mexican federal units institutionalize their international activities? 5) What are the perceptions and capacities of the federal units in their internationalization process? The first section argues that the growth in the IRSSG is generated by growing interdependence and globalization in the international system, and democratization, decentralization and structural reform in the national arena. The second section sustains that the renewed Mexican federalism has generated the incentives for SSG to participate more intensively in international affairs. The third section defends that there is a wide variation in their degree of international participation, which is measured in three moments in time (2004 2009 and 2014), and explains how this activity has changed in the last decade. The fourth section studies the institutionalization of the IRSSG in Mexico through the analysis of Inter-Institutional Agreements (IIA). Finally, the last section concentrates in explaining the perceptions and capacities of Mexican sub-State governments to conduct international relations.

Keywords: Federalism, foreign policy, international relations of sub-state governments, paradiplomacy, Mexico.

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