RADU NICOLAE BĂLUNĂ
Full Text Available Financing (funding is essentially the purchase of funds necessary for a business. This can be done from internal sources (company’s own funds or external (borrowed funds. The high value of goods traded in international trade makes revenues generated from internal resources not sufficient to settle the value of the goods. Thus, it is frequent to resort to borrowed funds. In International Business Transactions, external financing is done both by classical techniques of credit (credit supplier and buyer credit and modern techniques of financing (factoring, forfeiting, leasing all trade tailored. In terms of the length of financing, accounting funding is short-term (1-12 months and long-term financing (over a year. In principle, export and import operations prevailing short-term financing techniques, while international investment and industrial cooperation actions are specific long-term funding
A primer on financing international operations by Canadian corporations was provided. Factors affecting the availability to project finance (location, political risk), the various forms of financing (debt, equity, and combinations), the main sources of government backed financing to corporations (the International Finance Corporation) (IFC), the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Overseas Property Insurance Corporation (OPIC), government or agency guarantees, political risk coverage, the use of offshore financial centres, and the where, when and how these various organizations operate, were reviewed. Examples of all of the above, taken from the experiences of Canadian Occidental Petroleum of Calgary in the U.S., in South America, in the Middle and Far East, and in Kazakhstan, were used as illustrations. figs
Some of the innovative financing options being considered by developing countries and economies in transition as ways of mobilizing international energy financing are discussed. Build-Own-Operate (BOO) and Transfer (BOOT) is the most commonly adopted approach. This involves limited resource financing of a project on the basis of the associated cash flow and risks and not on the credit of the project owners. The World Bank has set up the Multilateral Investment Guarantee Agency to provide, on a fee basis, guarantees against certain non-commercial forms of risk in order to promote international capital flow to developing countries. In 1989, the World Bank introduced the Expanded Co-financing Operations (ECO) programme as an instrument to catalyze the flow of private finance into developing countries and to improve their access to international financial markets. Other financial instruments currently being established include: leasing of equipment or whole plants by foreign investors; private ownership or operation of generation and distribution facilities; exchange of specific export goods for energy imports; developing instruments to finance local costs; revenue bonds; tax-exempt bonds; sale of electricity futures to those seeking more stable, longer term electricity price contracts. (UK)
This work consists of two essays on law and finance in international trade. It addresses the means of raising funds for investment through receivables financing and project finance. The first essay discusses the role of receivables financing and in particular factoring in international trade. It examines the nature of factoring transactions and presents the efforts at regulation on an international level aimed at overcoming the difficulties in enforcement. The second essay discusses project f...
Full Text Available Following the terrorist attacks in the USA on September 11th, 2001, it was discovered that money laundering was a significant source of finance for terrorists. Although, the amount of money that involve is not as involve as in drug and gun trafficking, terrorist financing had been the most important substance to be monitor. Further, various legal measures have been taken internationally in order to combat terrorist financing. This research analyses the legal measures that have been taken internationally and at EU level to combat terrorist financing. Key words: Money Laundering, Terrorist Financing, International Legal measures, EU.
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)
Bond, Gary; Carter, Laurence
This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)
Cepparulo, Alessandra; Giuriato, Luisa
The paper compares different aggregates of aid financed global public goods and detects the presence, for the period 1995-2006, of the substitution effect between these aggregates and traditional aid that was found by former studies for earlier periods. A second focus of the paper is on the differences in the importance that donors attach to the various types of global public goods, trying to detect regular patterns in their choices of financing. Statistical regularities, representative of c...
C. Fritz Foley; Kalina Manova
An emerging new literature brings unique ideas from corporate finance to the study of international trade and investment. Insights about differences in the development of financial institutions across countries, the role of financial constraints, and the use of internal capital markets are proving central in understanding international economics. The ability to access financial capital to pay fixed and variable costs affects choices firms make regarding export entry and operations, and, as a ...
This thesis consists of three chapters, two in banking and one in international finance. The first two chapters examine how bank business models and foreign ownership structures affect bank-firm lending relationships. In particular, the first chapter reveals that foreign banks can overcome their
Full Text Available The paper substantiates the need for scientific studying the state of local infrastructure financing as well as efficient management of the existing infrastructure facilities. It is noted that under the influence of such factors as globalization, urbanization and information revolution the value of the city and role thereof in society are increasing. Based on analysis of the budget and demographic indices it has been proven that Kyiv, as the capital, occupies a unique place in the economic life of Ukraine, while being the country's financial and investment centre. It has been asserted that the critical level of the city's key infrastructure deterioration indicates lack of adequate municipal management in this field. The paper also asserts a high level of monopolization regarding housing and communal services, whereas also provides substantiation of the need for developing new competitive financing mechanisms to be applied. Existence of significant disparities between development of the city and construction of the essential transport infrastructure has been demonstrated with the said fact being due to incompliance of the borrowed finances with real investment needs. Given the international experience, the methods of upgrading the existing city infrastructure as well as sources of financial support for the new infrastructure projects have been suggested
Wu, Jing; Tang, Lichun; Mohamed, Rayman; Zhu, Qianting; Wang, Zheng
Climate financing is a key issue in current negotiations on climate protection. This study establishes a climate financing model based on a mechanism in which donor countries set up funds for climate financing and recipient countries use the funds exclusively for carbon emission reduction. The burden-sharing principles are based on GDP, historical emissions, and consumptionbased emissions. Using this model, we develop and analyze a series of scenario simulations, including a financing program negotiated at the Cancun Climate Change Conference (2010) and several subsequent programs. Results show that sustained climate financing can help to combat global climate change. However, the Cancun Agreements are projected to result in a reduction of only 0.01°C in global warming by 2100 compared to the scenario without climate financing. Longer-term climate financing programs should be established to achieve more significant benefits. Our model and simulations also show that climate financing has economic benefits for developing countries. Developed countries will suffer a slight GDP loss in the early stages of climate financing, but the longterm economic growth and the eventual benefits of climate mitigation will compensate for this slight loss. Different burden-sharing principles have very similar effects on global temperature change and economic growth of recipient countries, but they do result in differences in GDP changes for Japan and the FSU. The GDP-based principle results in a larger share of financial burden for Japan, while the historical emissions-based principle results in a larger share of financial burden for the FSU. A larger burden share leads to a greater GDP loss.
This first edition covers financing projects in the developing world, mergers and acquisitions; mitigating cross-border risk; basic risk in energy markets; real-time oil and gas pricing issues; oil and gas equity; risk management; project finance. The yearbook also features more regional specific topics such as: gas transportation in the Mercosur; 25 years of growth in the UAE; natural gas in Mexico; LNG in the Far East; legal issues surrounding the Russian oil and gas industry; LNG projects in the Middle East; the North Sea; and financing the oil and gas industry of Southern and South Africa. (UK)
Sep 27, 2013 ... As the fifth volume in a series of five books bringing together the results of intensive research on the national systems of innovation (NSI) in the BRICS countries – Brazil, Russia, India, China, and South Africa, this book analyzes the financing of science, technology, and innovation in the BRICS economies.
This paper explores the preference for and the features unique to project finance, one of the favoured vehicles for funding energy development. Our main focus is on the interests of project sponsors, commercial banks and host governments. Inclusion of the latter reflects the fact host governments are often leading participants in primary energy and energy-related projects; more recently, they have come to use limited recourse structures to finance local infrastructure development. Traditional analyses, whilst providing useful insights into the interests of leading project participants, are incapable of isolation a single motive or set of motives that can comprehensively account for all of the features common to this form of debt. Within an options-theoretic framework, most of these ambiguities are resolved. Risk management, long recognised as one of the primary reasons for choosing project finance over rival debt structures, is affirmed as a key explanatory factor. One the other hand, options pricing theory provides a radically different perspective on how to project finance contributes to the realisation of these objectives. (author)
Law, Elizabeth A.
Bare et al (2015 Environ. Res. Lett. 10 125010) ask an important question: is international conservation enough? Since the 1990’s international conservation donors have spent over 3.4 billion on biodiversity conservation related projects in sub-Saharan Africa. Both donors and recipients have a right to know if this is effective. Surprisingly, this question is rarely asked. It is a difficult question—involving many rival social, environmental, and economic explanations. Bare, Kauffman and Miller uncover some interesting associations, supporting existing hypotheses and proposing their own: that conservation aid alone is insufficient to mitigate drivers of deforestation (and in some cases may even exacerbate forest loss). This controversial result warrants further investigation—but what is needed now is nuance and robustness in further analyses, to have more confidence in the critique and it’s implications for international conservation aid.
Limaye, D.R.; Zhu, X.
requirements of these financing sources for the preparation of the proposals were defined. During the preparation of this guidebook, the authors also conducted a review of available information on private financing sources and public-private partnerships (PPPs) for financing mitigation programmes and projects. Multilateral financing sources include multilateral development banks (MDBs), such as the World Bank; agencies of the United Nations, such as UNDP and UNEP; and special international agencies created by these MDBs (such as the Global Environment Facility) in collaboration with various national governments. In this guidebook, these are referred to as multilateral financial institutions or MFIs. Bilateral financing institutions (BFIs) are created and directed by a national government for the purpose of giving aid or investing in targeted development projects and programmes in developing countries and emerging markets. BFIs carry out the mandates given to them by the national governments, which are based on the strategic objectives of the governments and their focus on specific geographic areas and technologies. The BFIs covered in this guidebook are national agencies that provide financing for mitigation activities. Export credit agencies (ECAs), which act as intermediaries between national governments and exporters to issue export financing, are not included in this report. Private financing sources, which are increasingly involved in financing climate change mitigation actions, include a wide range of local and international banks and financial institutions, venture capital and private equity funds, pension funds and some special funds created to address climate change mitigation. Private financing sources also include carbon finance companies. Many of the public (multilateral and bilateral) financing sources seek to leverage increased financing from private sources. To accomplish this, a number of public-private partnerships have been established. PPPs are designed to
Garrido, José; Jeanblanc, Monique
Developed from the Second International Congress on Actuarial Science and Quantitative Finance, this volume showcases the latest progress in all theoretical and empirical aspects of actuarial science and quantitative finance. Held at the Universidad de Cartagena in Cartegena, Colombia in June 2016, the conference emphasized relations between industry and academia and provided a platform for practitioners to discuss problems arising from the financial and insurance industries in the Andean and Caribbean regions. Based on invited lectures as well as carefully selected papers, these proceedings address topics such as statistical techniques in finance and actuarial science, portfolio management, risk theory, derivative valuation and economics of insurance.
The purpose of this research is to know about the role of internal auditor in PT Buana Finance Medan, to analize wheter the internal auditor has controlled an important role or not. The method of research is desriptive method. The data used is primary and secondary. In obtaining the required data, the writer uses data collection techniques such as interview and documentation study. The result of research shows that unit of internal control role as internal auditor has played an impo...
This presentation described the work of the Export Development Corporation (EDC), the only Canadian financial institution that is dedicated exclusively to finance and insurance services to support international trade. EDC supports Canadian exporters, foreign buyers and Canadian investors in international projects in North America as well as in Asia, South America, Europe, the Middle East and Africa. 5 figs
This presentation on financing of international, coalbed methane fueled Cogen projects is intended to provide the reader with some insight into the key steps and issues involved in financing an outside-the-USA project. No claim is made as to whether the strategy employed for the China projects will be suitable for other projects. The presentation is made from the perspective of an entrepreneur seeking a workable financial structure to address the concerns of risk, return, technology transfer to a third world country, and stage-wise development from prefeasibility assessment through complete resource development and gas utilization. The China projects referred to in this paper are not yet fully financed. Final project approvals for financing awaiting a request by the USA group for China to confirm that their 50% funding is available, and that initial funds have been transferred to the USA group's bank account
Full Text Available To prevent investment growth in 2013 to 2015 from decreasing, the Industrial Ministry provided fiscal incentives to stimulate investment-growth. Nevertheless, the investment growth of manufacturing firms still declined. This condition indicated that fiscal stimulus might be ineffective to prevent investment-growth from declining. The decline of investment might be influenced by the increase of firm financial constraints to access a source of long term debts. This study aimed to examine the influence of financial constraints in moderating the effect of financing decisions from internal financing sources on investment. The population of the study was all listed-manufacturing firms in Indonesia from 2013 to 2015. Samples were chosen based on the availability of firms’ financial report covering the period of the study. The study concluded that financial constraints significantly weaken the effect of internal funding decision on investment. Unconstrained firms had a higher beta than constrained firms. Although unconstrained firms had an opportunity to choose their source of funding, they preferred to finance their investment from cash flows because the cost of debts might be much higher than the cost of equity.Hence, to help firms to finance their feasible investment opportunity, the government should not only provide tax incentives but also provide a low-interest loan.
Garg, Ramesh C.
A guide to designing a course in international finance and multinational corporations is presented. It offers a rationale for such a course, discusses its primary goals, suggests two possible course orientations (professional or theoretical) and desirable or necessary prerequisites, and recommends specific course content areas and subareas. Types…
Over the past years, international financing agencies particularly the Breton Woods institutions such as World Bank, IMF and the regional financial institutions like the Asian development bank, have been criticized for their failure to solve the world's financial crisis and guarantee global prosperity and well being. While China ...
Garrido, José; Hernández-Hernández, Daniel; ICASQF
Featuring contributions from industry and academia, this volume includes chapters covering a diverse range of theoretical and empirical aspects of actuarial science and quantitative finance, including portfolio management, derivative valuation, risk theory and the economics of insurance. Developed from the First International Congress on Actuarial Science and Quantitative Finance, held at the Universidad Nacional de Colombia in Bogotá in June 2014, this volume highlights different approaches to issues arising from industries in the Andean and Carribean regions. Contributions address topics such as Reverse mortgage schemes and urban dynamics, modeling spot price dynamics in the electricity market, and optimizing calibration and pricing with SABR models.
Schäferhoff, Marco; Fewer, Sara; Kraus, Jessica; Richter, Emil; Summers, Lawrence H; Sundewall, Jesper; Yamey, Gavin; Jamison, Dean T
The slow global response to the Ebola crisis in west Africa suggests that important gaps exist in donor financing for key global functions, such as support for health research and development for diseases of poverty and strengthening of outbreak preparedness. In this Health Policy, we use the International Development Statistics databases to quantify donor support for such functions. We classify donor funding for health into aid for global functions (provision of global public goods, management of cross-border externalities, and fostering of leadership and stewardship) versus country-specific aid. We use a new measure of donor funding that combines official development assistance (ODA) for health with additional donor spending on research and development (R&D) for diseases of poverty. Much R&D spending falls outside ODA--ie, the assistance that is conventionally reported through ODA databases of the Organisation for Economic Co-operation and Development. This expanded definition, which we term health ODA plus, provides a more comprehensive picture of donor support for health that could reshape how policy makers will approach their support for global health. Copyright © 2015 Elsevier Ltd. All rights reserved.
Tapas Mishra; Bazoumana Ouattara; Mamata Parhi
This paper investigates the factors explaining aid allocation by bilateral and multilateral donors. We use data for 146 aid recipient countries over the period 1990-2007 and employ Bayesian Averaging of Classical Estimates Approach (BACE) approach and find that both the recipient need and donor interest motives are `significant' determinants of bilateral and multilateral aid allocation process. Our results also indicate that the measures for recipient need and donor interests vary from bilate...
The latest and most ambitious Free Financial Zone in the United Emirates is theDubai International Finance Centre (DIFC). The DIFC was set up in 2004. It has its own courts andjudicial system. It also has its own arbitration law. The DIFC arbitration law is in a process ofreview. A Model Law instrument is expected late in 2008. It is intended to explain some of theprovisions of the current DIFC arbitration law and to assist those using it.
Sierra, Katherine; Roberts, Timmons; de Nevers, Michele; Langley, Claire; Smith, Cory
Are climate finance contributor countries, multilateral aid agencies and specialized funds using widely accepted best practices in foreign assistance? How is it possible to measure and compare international climate finance contributions when there are as yet no established metrics or agreed definitions of the quality of climate finance? As a subjective metric, quality can mean different things to different stakeholders, while of donor countries, recipients and institutional actors may place quality across a broad spectrum of objectives. This subjectivity makes the assessment of the quality of climate finance contributions a useful and necessary exercise, but one that has many challenges. This work seeks to enhance the development of common definitions and metrics of the quality of climate finance, to understand what we can about those areas where climate finance information is available and shine a light on the areas where there is a severe dearth of data. Allowing for comparisons of the use of best practices across funding institutions in the climate sector could begin a process of benchmarking performance, fostering learning across institutions and driving improvements when incorporated in internal evaluation protocols of those institutions. In the medium term, this kind of benchmarking and transparency could support fundraising in contributor countries and help build trust with recipient countries. As a feasibility study, this paper attempts to outline the importance of assessing international climate finance contributions while describing the difficulties in arriving at universally agreed measurements and indicators for assessment. In many cases, data are neither readily available nor complete, and there is no consensus on what should be included. A number of indicators are proposed in this study as a starting point with which to analyze voluntary contributions, but in some cases their methodologies are not complete, and further research is required for a
Crocker-Buque, Tim; Mounier-Jack, Sandra
To evaluate stakeholders' understanding and opinions of the International Finance Facility for Immunisation (IFFIm); to identify factors affecting funding levels; and to explore the future use of IFFIm. Between July and September 2015, we interviewed 33 individuals from 25 organizations identified as stakeholders in IFFIm. In total 22.5 hours of semi-structured interviews were recorded, transcribed and analysed using a framework method. Stakeholders' understanding of IFFIm's financing mechanism and its outcomes varied and many stakeholders wanted more information. Participants highlighted that the change in the macro-economic environment following the 2008 financial crisis affected national policy in donor countries and subsequently the number of new commitments IFFIm received. Since Gavi is now seen as a successful and mature organization, participants stated that donors prefer to donate directly to Gavi. The pharmaceutical industry valued IFFIm for providing funding stability and flexibility. Other stakeholders valued IFFIm's ability to access funds early and enable Gavi to increase vaccine coverage. Overall, stakeholders thought IFFIm was successful, but they had divergent views about IFFIm's on-going role. Participants listed two issues where bond financing mechanisms may be suitable: emergency preparedness and outcome-based time-limited interventions. The benefit of pledging funds through IFFIm needs to be re-evaluated. There are potential uses for bond financing to raise funds for other global health issues, but these must be carefully considered against criteria to establish effectiveness, with quantifiable pre-defined outcome indicators to evaluate performance.
Full Text Available Permanently unsolved world food insecurity problem makes the international community search for solutions. One of the used methods is international food aid directed to developing countries. Long term analyses of the food aid flows allow to identify some tendencies that show: increase of emergency food aid and decrease of direct transfer. These tendencies also apply to the two biggest food donors i.e. the USA and the EU. The noticeable directions of changes are based on the international community initiatives, on which the national regulation are formed later.
Bucci, G A; Tenorio, R
"We introduce a government budget constraint into an illegal immigration model, and show that the effect of increasing internal enforcement of immigration laws on the host country's disposable national income depends on the mix of employer fines and income taxation used to finance the added enforcement. These issues are addressed under alternative assumptions about (a) the ability of host country employers to discern between legal and illegal workers, and (b) host country labor market conditions. Empirical evidence for the United States indicates that the employer sanctions program may have had a negative impact on disposable national income." excerpt
MacPhail-Wilcox, Bettye; Anthony, Pat
One Supreme Court decision, seven federal appellate decisions, and two district court decisions were published in the area of school finance in 1990. The Supreme Court reviewed a case concerning allegations of school district segregation, along with an ensuing tax assessment issue. Federal appellate courts handed down decisions involving alleged…
Eberhartinger, Eva; Pummerer, Erich; Göritzer, Andreas
In intra-group finance hybrid instruments allow for tailor-made form of finance. Hence hybrid finance is often used for international tax planning in multinational groups. Due to a lack of international tax harmonization or tax coordination qualification conflict can arise. A specific hybrid instrument is classified as debt in one country, and as equity in the other country. This may lead to double taxation. In the reverse case, double non-taxation can arise. Against this legal background one...
There are many aesthetics and structural design requirements to modern hearing aids and their size has been reduced considerably during the last decades. This has led to designs where the receiver (loudspeaker) and microphones are placed closely together. As a consequence, problems with vibroacou......There are many aesthetics and structural design requirements to modern hearing aids and their size has been reduced considerably during the last decades. This has led to designs where the receiver (loudspeaker) and microphones are placed closely together. As a consequence, problems...... with vibroacoustic transmission from the receiver to the microphones often occur during the use of hearing aids. This transmission causes feedback at certain critical gain levels where it produces a loud uncomfortable squealing. Consequently feedback often constitutes the limiting factor for the maximum obtainable...... gain in the hearing aid and it therefore represents a critical design problem. Feedback in hearing aids is usually divided into external and internal feedback. External feedback is caused by the leakage of sound from the ear canal whereas internal feedback is due to transmission of sound and vibrations...
Full Text Available Public preschool educational institutions in Slovenia are mostly financed by public money, it means bay state and municipalities. They are also financed by parents. So, it is important that preschool institutions are using public money transparent and responsible, for this reason public preschool institution should have internal controls in financing. The internal auditor as independent professional should verify if internal controls works. The purpose of this paper is to investigate how internal controls in financing public educational institution works it means which internal controls are important in financing the preschool institution - on the selected institution to show and check how internal controls work. For this reason we divide internal controls in the financing in two phases: (1 internal controls in the preparation of the annual financial plan and financial planning of financial resources for institution’s programs and activities, (2 internal controls in obtaining financial resources. We used methods of internal auditing and research approaches as sampling, unstructured interviews and analysis of documents. The results showed that selected preschool institution should work on rules of recovery and monitoring of claims. The findings provide useful academic insight to setting internal controls as well as practical guidance for preschool institutions.
A presentation at the second Conference on AIDS and Ethics discussed the status of the AIDS pandemic, the success of the international response, and the need for continued commitment by the European Community (EC) and the Group of Seven to the worldwide AIDS prevention and control effort. As of mid 1992, the World Health Organization (WHO) estimated that about 10-12 million adults and 1 million children had been infected with HIV. Africa had over 7 million infected adults with 6.5 million of these located in Sub-Saharan Africa. However, in south and southeast Asia the pandemic is spreading as fast as it did a decade ago in Sub-Saharan Africa. Well over a million adults have been infected so far, most of them in Thailand, India, and Myanmar. WHO projections show that in the mid- to late 1990s more Asians will be newly infected each year than Africans. Starting in 1987 WHO was designated as the leader of the global response to AIDS and urged national leaders to commit themselves to taking decisive HIV preventive action. Preventing HIV infection calls for promoting safer sex and providing condoms, as well as encouraging people to seek care for other sexually transmitted diseases (STDs). The results of 5 prevention projects in Zaire, Zimbabwe, Rwanda, and Thailand have been highly effective. In Zaire a social marketing project widely promoted condoms in the mass media and sold them through every available retail outlet. Condom sales had increased from fewer than 0.5 million in 1987 to over 18 million in 1991. In Thailand a policy of 100% condom use was implemented simultaneously in all the sex entertainment establishments in a few pilot areas. Given the magnitude of the HIV/AIDS pandemic, the international response of the EC and the Group of Seven needs political commitment, respect for human rights, and resources.
Both domestically and globally, protecting human health and the environment is essential to sustainable economic growth and development. EPA works in trade, environment and finance to protect these goals.
Bendandi, Barbara; Pauw, W.P.
Climate finance is a key issue at the UN climate negotiations, but explicit international funding possibilities for adaptation in developing countries remain limited. According to the recent Paris Agreement, climate finance will come from a ‘wide variety of sources, instruments and channels’. To the
... the Division of International Finance. 265.8 Section 265.8 Banks and Banking FEDERAL RESERVE SYSTEM... Functions delegated to the Staff Director of the Division of International Finance. The Board's Staff Director of the Division of International Finance (or the Director's delegee) is authorized: (a...
Full Text Available The world financial crisis initiated in 2008 may have affected the international financing mix of firms in Brazil and their determinants, given its aftereffects. Financial crisis are recurrent events with varying degrees of severity. Many public Brazilian firms use international financing in their capital structure mix and it is relevant to understand their behavior during international crises. Thus, our goal was to investigate the foreign financing mixes of Brazilian listed companies before (2004 and during the 2008 world financial crisis by means of descriptive and probit regression analyses of their components and determinants at the end of these years. Brazilian companies usage of Eurobonds fluctuates with the value of the real (R$ and is still small considering the size of Brazil’s economy. Short-term financing and bank loans, domestic and foreign, decreased in 2008 and were replaced by domestic and international bonds and American Depository Receipts (ADRs. Firms with foreign shareholders more often resorted to foreign capital markets and their presence became a more important determinant in 2008, while the other determinants did not change. Firms that employ international debt tend to use all other sources of financing more often. International bank loans may be the first step to reduce international financing constraints.
Full Text Available Economic development is the supreme goal of modern civilization. This phenomenon is seen not just in terms of growth, but rather as an overall improvement in living standards. Economic development is a national goal, but also an objective of international economic bodies. Talks about development are held in the context of the opposition between developed countries and developing countries.In this article, we discuss whether development aid that originates from industrialized states supports sustainable economic rise of the countries lagging behind and whether it is preferable to let market operate freely, through the liberalization of international trade. Our conclusion is that economic development through the promotion of free trade would be achieved faster and more efficiently, based on net gains from trade and the pride of the peoples who would have won by themselves their daily bread and a place in the global market.
Auboin, Marc; Smythe, Harry; Teh, Robert
The unbundling of trade across regions offers unique opportunities for SMEs to integrate into global trade notably through their involvement into supply-chains. With supply-chains shifting and expanding into new regions of the world, the challenge for SMEs to accessing financing remains an important one; in many developing and emerging market economies, the capacity of the local financial sector to support new traders is limited. Moreover, after the financial crisis, several global banks have...
Full Text Available As long as there are taxes, the incentive for evasion will exist as well. Studies for tax evasion are of interest in different fields like that of economics, public finance, personal finance, business administration, business finance, financial accounting, in the banking system etc. However, there are only a few studies about the internal causes and financial incentives that oblige decision-makers of small firms towards tax evasion. When we refer to business tax evasion, always brings to mind sensational cases of large businesses that evade taxes, but business tax evasion is a widespread phenomenon even to small firms. To be more competitive, small business must have a consistently entrepreneurial orientation, but limited financing prevents this, therefore the business savings from tax evasion is believed to be an internally funding path. The restrictions on small firms financing often make them orientate more toward internal generation of funds, which also has few alternatives. As a way to internal saving, firms often find tax evasion, which is not only a deviant and unethical behavior, but also puts firms into many difficulties in the long run. Consequently, the study aims to discuss the phenomenon of tax evasion in the managerial practice of small business in an Albanian region, as well as its financial cause as is perceived by the small business. The study findings report that the deviant behavior of businesses from taxes considers the need for internal financing as an important reason. The study concluded that savings from tax evasion is an alternative of internal financing primarily for small and early-staged firms, and that if entrepreneurs are capable of a good business model and competitive strategy, they will not need to make evasion.
Using data provided by the Council of International Schools and a literature review to contextualize the subject, this article examines the topic of international school finance. It is suggested that postgraduate programmes are not doing enough to supply financial training for teachers turned administrators, and that a lack of understanding of…
There is a particular need for evidence on how economic globalization and growth impact vulnerability to HIV/AIDS and, conversely, how HIV/AIDS may affect efforts ... The Honourable Chrystia Freeland, Minister of International Trade, announced a new project to be funded by Canada's International Development Research ...
Bourguinat, Elisabeth; Missaoui, Rafik; Gromard, Christian de; Dognin, Hubert; Breton-Moyet, Laurence; Barbier, Jean-Pierre; Ayadi, Benaissa; Osman, Nejib; Amaimia, Neji; Bahri, Mounir; Marrouki, Sami; Henry, Alain; Dudziak, Rossana; ); Rassaa, Abdel Aziz; Kanoun, Faouzia; Pariente-David, Silvia; Baguenier, Henri; Gaudin, Thomas; Draeck, Mark; Lamande, Faycal; Quefelec, Stephane; Bosse, Philippe; Perthuis, Christian de; Amous, Samir; Lopez, Jose; Saidi, Ferid; Gueschir, Maxime; Allaire, Julien; Mezghani, Mohamed; Rejeb, Sarra; Soukah, Elyes; Laajimi, Brahim; Begon, Christophe; El Khoury, Pierre; Missaoui, Rafik; Sanz de Burgoa, Patricia; Ouchikh, Nadia; Joffre, Andre; Touhami, Myriem; ); Lihidheb, Kawther; Laponche, Bernard; Boujnah, Nejib
After opening speeches, this publication proposes the contributions to a conference. These contributions addressed the following themes: investments in energy management and their financing (peculiarity, tools used by the AFD, tools of bilateral aid of the French economic mission in Tunisia, financing tools of the World Bank, needs and financing tools for investments in energy management in the eleventh plan in Tunisia), tools and examples of energy management financing (experience of the NovEnergia investment fund, financial and economic instruments in France, the British experience in energy saving certificates, funding the solar-gas plant project of Hassi R'Mel in Algeria, perspectives for the Blue Plan, example of the FFEM in financial partnership and energy management, financing carbon and energy management). The conference also comprised four sector-based workshops which addressed issues related to energy consumption, management and saving in the following sectors: industry, transports, housing, and office building. Contributions presented within these workshops notably give examples in Tunisia, France, Vietnam, or Lebanon
Goergen, M.; Renneboog, L.D.R.
This paper investigates whether investment spending of firms is sensitive to the availability of internal funds.Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are not independent.The relation between corporate investment
Full Text Available In this paper, we describe how Shenzhen A-share listed companies used funds raised in over-financed IPOs during the 2006–2010 period. In exploring the relationship between internal corporate governance and the use of funds raised in over-financed IPOs, we find that the use of such funds to engage in severe over-investment behavior is prevalent among listed companies. Reasonable internal corporate governance mechanisms can effectively alleviate over-investment problems listed companies encounter in using funds raised in over-financed IPOs. However, the same individual serving as both chairman and CEO leads to funds raised in over-financed IPOs being over-invested. Moreover, executives driven by high levels of monetary compensation are more likely to use funds raised in such IPOs to engage in over-investment. We find that improving the balance of power between shareholders will help alleviate the over-investment of excess IPO funds. In addition, the over-investment problem is less severe in state-controlled listed companies than in their non-state-controlled listed counterparts. This study provides policy recommendations for Chinese securities regulators to ensure listed companies use funds raised in over-financed IPOs both rationally and effectively.
Buehler, J.E. Jr.
Fundamental changes are occurring in the capital and project development markets both domestically and internationally. In the United States, the capital market has undergone dramatic changes recently, characterized by clubbed debt structures, uncertain pricing spreads, and declining leverage ratios. In response, project sponsors and their investment bankers have created innovative debt and equity structures to attract investors while at the same time minimizing project risk and preserving the flexibility for the project to operate optimally. The structure of a project financing, either U.S. or international, will vary depending on (1) the differing project management/control concerns, financial goals and risk profiles of the developer, equipment and fuel suppliers, bank lenders and equity sources, (2) regulatory issues, such as compliance with the Public Utility Holding Company Act (PUHCA) in the U.S. and similar national utility legislation in the host foreign country, and (3) the tax implications of a given structure to the project owner, lender, and equity supplier. In response to these investor-specific goals and/or constraints, various forms of project structures have been developed. The focus of this paper is on legal and business issues which arise in international project finance, using U.S.project finance as a model that expresses the risk profile that U.S. financial institutions are accustomed to and overlaying the unique risks that are added to project financing which are international in nature
Faber, J. [CE Delft, Delft (Netherlands); Pahuja, N.; Garg, A. [The Energy and Resources Institute TERI, New Delhi (India)
Market based instruments (MBIs) for maritime transport have the potential to reduce emissions while at the same time raising funds for climate policies in developing countries. GHG emissions from international aviation and maritime transport accounted for approximately 5% of global anthropogenic emissions in 2005 and are rising rapidly. There is a clear need to address these emissions in order not to undermine policies for mitigating land based emissions. Developing countries need financial support to carry out climate policies, both adaptation and mitigation. The UN Framework Convention on Climate Change (UNFCCC) makes policies by developing countries conditional on climate finance. In the current economic and financial circumstances, there is a need for new sources of finance. The governance of such MBIs should ensure that they are neither an international tax nor require hypothecation of fiscal revenues, while they should provide new and additional finance. MBIs which are in fact an international tax would not be politically feasible, and likewise hypothecation would be opposed by many states. This report finds that an emissions trading scheme (ETS) can satisfy these criteria, provided that: (1) it transfers a share of allowances directly to developing countries in order to ensure there is no net incidence on them; developing countries could auction these allowances in order to raise revenue; (2) it transfers allowances to the Green Climate Fund to support climate policies; auctioning these allowances would provide revenues for the Fund; (3) it transfers allowances to IMO or another organisation in order to finance fuel-efficiency improvements in international transport.
Zachary Paul Levine
Full Text Available This article discusses the emergence of the semi-clandestine efforts of a network of international Jewish philanthropies and the Israeli government to send material and financial aid to Jews in early-communist Hungary. Post Second World War Hungary was a special focus for Jewish aid organizations in the west and the Israeli government. They poured resources into Hungary, both to feed, cloth and provide medical care to hundreds of thousands of Jews, and to assist thousands of Jews migrating west through Hungary. The American Jewish Joint Distribution Committee, the dominant Jewish aid organization in the world at the time, ran its largest and most expensive program in Hungary. Working with Israeli and Hungarian authorities, it financed a network of welfare services, often through the importation of scarce consumer goods and raw materials. As the Communist Party reshaped the economy, and pushed out “undesirable elements” from Hungarian life, this aid program served a growing population of impoverished, sick, and religious Jews, some exiled in Hungary’s countryside. This program increasingly took advantage of black market networks to distribute aid. Yet, after conditions deteriorated so much that this program ceased officially, Jewish aid providers in the US and Israel adapted their earlier practices and networks to take advantage of the impoverished consumer economy in program to distribute aid clandestinely to Hungarian Jews, with the cooperation of Hungary’s communist authorities.
Baker, Brook K
Expansion of funding for HIV/AIDS, especially treatment, is under attack over concerns about cost effectiveness and financial constraints. The International Monetary Fund is deeply implicated in the history of the AIDS pandemic, the underlying weakness of health systems, and the ideology of constrained resources that underlies most attacks on AIDS funding. The IMF imposed structural violence on developing countries in the 1980s and 1990s through neoliberal and macroeconomic reforms that intensified individual and communal vulnerability to infection and dismantled already weak health systems. This same macroeconomic fundamentalism has recently been repackaged and renamed. IMF fundamentalist policies continue to prioritize low inflation, constricted government spending, robust foreign currency reserves, and prompt repayment of debt at the expense of investments in health and more expansionary, pro-growth and job-creation policies. Several recent surveys have concluded that the IMF reluctantly relaxed overly restrictive policy prescriptions in response to the global economic crisis, but this relaxation was temporary at best and only extended to countries previously acceding to IMF orthodoxy. AIDS activists are campaigning for billions of dollars to fulfill the promise of universal access. If IMF pressures persist, developing countries will continue to undermine the additionality of donor health financing by substituting donor for domestic financing, refusing to invest in recurrent costs for medicines and health workers, and neglecting needed investments in health infrastructure and health system strengthening.
Kotlyarevskyy Yaroslav V.
Full Text Available The article considers the current state and prospects for the development of financial and investment mechanisms in the planning and implementation of environmental global international projects and programs. In particular, the main provisions for the formation of the concept of sustainable development in the context of investigating green investment as a form of international financing for sustainable development projects are outlined, and relevant international experience are presented as well. A theoretical and methodological, and retrospective analysis of forming the conceptual and categorical apparatus of the green economy and green investments is carried out. The applied financial and economic aspects of the formation of mechanisms for international financing to fulfill the obligations under the Kyoto Protocol are studied, specifics of the institutionalization of the organizational and financial mechanisms of the Global Environment Facility (GEF are determined, as well as the prospects of their influence on the national economy are examined.
Full Text Available Abstract This study aimed to analyze the implementation of the internal control system covering quality employees in accordance with their responsibilities. The separation of responsibilities properly and periodically comparison to Amanah Finance receivables management in Gorontalo branch. This type of approach of this research is descriptive research type. This study found that the internal implementation of internal control processes are already running with less good, because the management has done a separation of responsibility on each employee based on the competence of each employee and has done secarah full delegation of authority. Each recording transactions authorized by the accounts receivable function of cash receipts and disbursements. Then, at the end of each period selau made adjusting entries, and financially prepared financial statements on a regular basis. The management of Finance to evaluate periodically based on financial statements prepared in each period. Keywords: Internal Control System, Receivables Management.
Investors and creditors of international mining projects bear specific risks which may be reduced by means of forming investor and financing consortia. Risk is defined for each actor separately. Project risk and investor risk respectively credit risk are useful categories in order to analyze risk reduction. In each case formation of consortia has a positive influence on the economic viability of the project, and thus reduces the project risk. Furthermore, formation of consortia leads to better compliance of the host country of the mining project with the project and financing agreements. Thus, investor and credit risk may be reduced. (orig.) [de
Full Text Available This paper aims at explaining the volatility of two main macroeconomic variables (interest rate and exchange rate that impact the cost of international capital and, consequently, the international financing decision. Firstly, the main economic theories are called to illustrate the relevant determinants of these variables from the perspective of demand and supply of capital sides. The state intervention through monetary policy is introduced to emphasize the alteration of these prices (the price of capital, the price of foreign currencies. The paper is presenting the role of these prices in international financing decision (based on the theoretical model used to estimate cost of international capital, their impact on the foreign direct investment decision and on the international portfolio investment decision. Finally, the paper describe the economic consequences of the monetary public intervention on the financing and investment decision in direct connection with the business cycle theory. The paper associates the monetary policy to the business cycles. The paper comments the unsound solutions proposed against the economic crises and that continued to harm negatively these prices generating the seeds for next international economic recession. The paper is a theoretical one, containing some very interesting research hypothesis and opening the paths for presumable further empirical researches.
Leyva-Flores, René; Castillo, José Gabriel; Serván-Mori, Edson; Ballesteros, Maria Luisa Gontes; Rodríguez, Juan Francisco Molina
This study analyzed the financial contribution by the Global Fund to Fight HIV/AIDS, Tuberculosis, and Malaria and its relationship to eligibility criteria for funding in Latin America and the Caribbean in 2002-2010. Descriptive analysis (linear regression) was conducted for the Global Fund financial contributions according to eligibility criteria (income level, burden of disease, governmental co-investment). Financial contributions totaled US$ 705 million. Lower-income countries received higher shares; there was no relationship between Global Fund contributions and burden of disease. The Global Fund's international financing complements governmental expenditure, with equity policies for financial allocation.
pocket payments, and donor aid — to finance their health systems. In these fragmented systems, benefits and risks are unevenly shared. The poorest have less access to medical care and face a higher risk of cata- strophic expenditure.
Dec 16, 2010 ... There is growing recognition of the effect food policy can have on HIV/AIDS, and vice versa. The Regional Network on HIV/AIDS, Rural Livelihoods and Food Security (RENEWAL) was launched in 2001 as a joint project between the International Service for National Agricultural Research and the ...
Menashy, Francine; Shields, Robin
Following the 2005 Paris Declaration on Aid Effectiveness, international development policy discourses have focused on partnership as an overarching principle. With a focus on participation and non-hierarchical relationships, new partnerships aim to reconstitute the aid relationship in a way that obviates power inequality and hegemony. However,…
Jan 26, 2011 ... How can you get AIDS treatment to those who urgently need it where medical expertise is scarce, patient information is fragmented, and the public is wary of testing? IDRC-supported research teams are working with public health authorities in South Africa's Free State province to design a rollout of ...
US Agency for International Development — AidData is a research and innovation lab making information on development finance more accessible and actionable. Tracking more than $6 trillion dollars from 90+...
Sridhar, Devi; Gómez, Eduardo J
In this paper we examine whether Brazil, Russia and India have similar financing patterns to those observed globally. We assess how national health allocations compare with epidemiological estimates for burden of disease. We identify the major causes of burden of disease in each country, as well as the contribution HIV/AIDS, tuberculosis and malaria make to the total burden of disease estimates. We then use budgetary allocation information to assess the alignment of funding with burden of disease data. We focus on central government allocations through the Ministry of Health or its equivalent. We found that of the three cases examined, Brazil and India showed the most bias when it came to financing HIV/AIDS over other diseases. And this occurred despite evidence indicating that HIV/AIDS (among all three countries) was not the highest burden of disease when measured in terms of age-standardized DALY rates. We put forth several factors building on Reich's (2002) framework on 'reshaping the state from above, from within and from below' to help explain this bias in favour of HIV/AIDS in Brazil and India, but not in Russia: 'above' influences include the availability of external funding, the impact of the media coupled with recognition and attention from philanthropic institutions, the government's close relationship with UNAIDS (UN Joint Programme on HIV/AIDS), WHO (World Health Organization) and other UN bodies; 'within' influences include political and bureaucratic incentives to devote resources to certain issues and relationships between ministries; and 'below' influences include civil society activism and relationships with government. Two additional factors explaining our findings cross-cutting all three levels are the strength of the private sector in health, specifically the pharmaceutical industry, and the influence of transnational advocacy movements emanating from the USA and Western Europe for particular diseases.
Cmiljanić Bajo M.
Full Text Available Terrorist acts are sometimes carried out in order to obtain funds for financing terrorist organizations and terrorist actions. Therefore, due attention in considering the forms of combat against terrorism has been paid to the connection between money and violence. The issue of prohibition of financing of terrorism is the subject of many international legal documents. Republic of Serbia has devoted many normative documents to this problem, that are harmonized with the international obligations accepted upon the signing of international treaties. The task of this paper is to show the basic norms of international law and the laws of the Republic of Serbia regarding the prohibition of financing of terrorism.
De Los Ríos, Rebecca; Arósquipa, Carlos; Vigil-Oliver, William
The purpose of this study is (a) to examine the ways in which Latin America and the Caribbean (LAC) have benefited from increases in international development assistance for health (DAH) at the global level and whether the trend observed after the Millennium Summit has also applied to the Region; (b) to determine whether there are differences in the distribution of this assistance, based on the gross per capita income of each country; (c) to identify the possible effects of the 2008 international financial crisis on official bilateral assistance; and (d) to compare trends in public health expenditure in relation to DAH before and after the Millennium Summit. The study has found that DAH in LAC follows a very different pattern than in other regions of the world. The period from 1997 to 2008 was one of fluctuating stagnation, with average annual disbursements of US$ 1 200 million. Multilateral financial institutions accounted for 79% of the average disbursements in the upper-middle income countries between 2002 and 2008, while official bilateral assistance held the greatest share (61%) in the low- and lower-middle income countries. Bilateral assistance grew at an annual rate of 13% during this period, but in the year after the crisis, disbursements fell to US$ 20 million. Sixty-four percent of bilateral assistance came from the United States, Spain, and Canada, with 29% of it being directed to HIV/AIDS and sexually transmitted diseases. After the Millennium Summit DAH channeled to governments decreased 30% in the period 2001-2006, and its share of public health expenditure in the region was 0.3% for the same period, with an equally marginal proportion in relation to total health expenditure for 2008 (0.37%; US$ 2 per capita). The study concludes that after the Millennium Summit, DAH in LAC did not grow nor did it equal the trends prior to 2000, and public health expenditure followed its historical growth trend, without further increases in relation to the regional
Full Text Available We conduct the first cross-national study to consider the impact of the World Banks International Finance Corporation loans on forests. In doing so, we analyze data for a sample of sixty-one low and middle income nations for the period of 1990 to 2005. We find substantial support for dependency theory that low and middle income nations that receive an International Finance Corporation loan tend to have higher rates of deforestation than low and middle income nations that do not receive such a loan. We also find that other aspects of World Bank lending affect forest loss including structural adjustment and investment lending. We conclude with a discussion of the findings, theoretical implications, methodological implications, policy implications, and possible directions for future research.
Andrei Razvan Crisan; Melinda Timea Fulop
Considering the modern market requirements and the government in the last decade that require two information systems: accounting and statistic. In accordance with these requirements, we believe it is very important to analyze the harmonizing of the two systems between Government Finance Statistics (GFS), used in support of macroeconomic analysis and General Purpose Financial Reports (GPFR) according with International Public Sector Accounting Standards, used for making decisions and accounta...
Information on financing higher education in Japan is presented in the hopes that knowledge of the experiences in various countries and their analysis could benefit the efforts for finding future directions around the world. Financing of higher education is attracting international attention and is caused by demographic trends in many developed…
Jan 14, 2011 ... Seventeen years later, he continues to emphasize this connection as a senior research fellow with the International Food Policy Research Institute (IFPRI) and cofounder of the Regional Network on HIV/AIDS, Rural Livelihoods and Food Security (RENEWAL), partly funded by Canada's International ...
Mueller, Michael; Morgan, David
International comparisons of health spending and financing are most frequently carried out using datasets of international organisations based on the System of Health Accounts (SHA). This accounting framework has recently been updated and 2016 saw the first international data collection under the new SHA 2011 guidelines. In addition to reaching better comparability of health spending figures and greater country coverage, the updated framework has seen changes in the dimension of health financing leading to important consequences when analysing health financing data. This article presents the first results of health spending and financing data collected under this new framework and highlights the areas where SHA 2011 has become a more useful tool for policy analysis, by complementing data on expenditure of health financing schemes with information about their revenue streams. It describes the major conceptual changes in the scope of health financing and highlights why comprehensive analyses based on SHA 2011 can provide for a more complete description and comparison of health financing across countries, facilitate a more meaningful discussion of fiscal sustainability of health spending by also analysing the revenues of compulsory public schemes and help to clarify the role of governments in financing health care - which is generally much bigger than previously documented. Copyright © 2017 Elsevier B.V. All rights reserved.
Full Text Available The malfunctioning of internal control system of European Social Fund (ESF financed interventions may prejudice the sound financial management principle. Incorporating COSO principles in the beneficiaryâ€™s internal control systems may provide some warranties about compliance to the above mentioned principle as described in the EC Regulation 1605-2002. This study aims to explore some facts in actual internal control environment, as a base for future improvements of Romanian ESF beneficiaryâ€™s internal control systems ESF financed interventions covers a large range of costs for implementing labor market related services. But supporting costs according to the sound financial management principle calls for best value for money in real and legal operations. Without some specifics from the donor or a mutual accepted best practice model, most of the ESF beneficiaries are reporting their efforts to actual researches and specialized literature regarding internal control system implementation in services. This study was realized in April 2012 by applying an investigation instrument, an on-line questionnaire collecting both opinions and factual data as well to a number of 962 members of a practice community for ESF interventions implementation. This technique was used to test hypotheses regarding the premises existence for a future improvement of the existing internal control system model. 100 members of this community: managers, accountants, auditors financial responsible and other team members answered anonymously, revealing a real concern for internal control, providing as well a different side image for this. Analyzing all stakeholder answers, we may consider that our hypothesis is correct and there is a real need for internal control environment improvements. This study is a part of a larger research â€œNew models of the accounting and internal control systems of ESF financed interventions in Romaniaâ€, addressing a qualitative
Sociocultural context and the success of international aid on National Agricultural Advisory Services program in eastern Uganda. ... Preliminary analysis of this data has identified interacting economic, political, geographic, and sociocultural factors at work in the implementation of this program. Determining 'what did and did ...
Kligerman, Maxwell; Barry, Michele; Walmer, David; Bendavid, Eran
The reconstruction of healthcare systems in developing countries after natural disasters is poorly understood. Using data collected before and after the 2010 Haiti earthquake, we detail the response of aid agencies and their interaction with local healthcare providers in Leogane, the city closest to the epicenter. We find that the period after the earthquake was associated with an increase in the total number of healthcare facilities, inpatient beds, and surgical facilities and that international aid has been a driving force behind this recovery. Aid has funded 12 of 13 new healthcare facilities that have opened since the earthquake as well as the reconstruction of 7 of 8 healthcare facilities that have been rebuilt. Despite increases in free, aid-financed healthcare, private Haitian healthcare facilities have remained at a constant number. The planned phase-out of several aid-financed facilities, however, will leave Leogane with fewer inpatient beds and healthcare services compared with the pre-earthquake period. © The American Society of Tropical Medicine and Hygiene.
Olbrecht, Alexandre M.; Romano, Christopher; Teigen, Jeremy
In this paper, we leverage detailed, individual-level student data to understand the relationships between family finances, merit-based aid, and first-year student retention. With three cohorts of student data that comprise family financial status, institutional merit scholarships, and many of the other known correlates of student retention, we…
Every year approximately 18 million people die prematurely from treatable medical conditions including infectious diseases and nutritional deficiencies. The deaths occur primarily amongst the poorest citizens of poor developing nations. Various groups and individuals have advanced plans for major international medical aid to avert many of these unnecessary deaths. For example, the World Health Organization's Commission on Macroeconomics and Health estimated that eight million premature deaths could be prevented annually by interventions costing roughly US$57 bn per year. This essay advances an argument that human rights require high-income nations to provide such aid. The essay briefly examines John Rawls' obligations of justice and the reasons that their applicability to cases of international medical aid remains controversial. Regardless, the essay argues that purely humanitarian obligations bind the governments and citizens of high-income liberal democracies at a minimum to provide major medical aid to avert premature deaths in poor nations. In refusing to undertake such medical relief efforts, developed nations fail to adequately protect a fundamental human right to life.
This article reports noteworthy HIV/AIDS clinical trials presented at the XVth International AIDS Conference, Bangkok, July 2004, and also outlines goals of comprehensive prevention, care, treatment, and monitoring plans. The Bangkok conference theme was "Access for All." Outlined are goals of comprehensive prevention, care, and treatment programs: increased education and prevention efforts, greater involvement of national health authorities, reduction of new HIV infections, increased use of voluntary counseling and testing, increased acceptance and use of condoms, acceptance of an individual's right to be protected against HIV infection during sexual activity, increased support of NGOs, reduction of sexual partners, increased sexual fidelity, availability of antiretroviral medication, prevention of mother-to-child transmission, reduction of AIDS deaths, improved surveillance of sexually transmitted infections, improved blood supply security, increased coordination with tuberculosis and malaria treatment, equity for urban and rural persons, increased orphan services, reduction of orphan rate, greater involvement of local leaders, increased media involvement, reducing HIV/AIDS discussion taboo, reduced injecting drug user needle sharing, and continuing education for health care professionals. Monitoring parameters include incidence and prevalence of HIV infections, use of voluntary counseling and testing, condom use and attitudes to right of protection, AIDS deaths, orphan rate, public advertisements, leadership participation, antiretroviral use and availability, public awareness of services, blood supply security, and professional education.
Irrek, Wolfgang; Thomas, Stefan; Attali, Sophie; Benke, Georg; Borg, Nils; Figorski, Arkadiusz; Filipowicz, Mariusz; Labanca, Nicola; Pindar, Andrew; Ochoa, Amalia
Public Internal Performance Contracting (PICO) is a type of in-house 'third-party' financing or energy performance contracting scheme. In theory, once triggered, PICO provides a 'perpetual motion' finance mechanism for public authorities by which energy efficiency savings fund new investments in an upward virtuous cycle. One unit of the public authority, e.g. the technical department, delivers the financial and technical energy efficiency service to another unit of the same public administration. Remuneration takes place through cross payments between these units, according savings made in energy costs. The initial investments require 'seed funds' to kick start the process, after which the cross payments provide sufficient means to fund further measures. How can the PICO mechanism be initiated in times of tight public budgets? What difficulties are faced during the implementation process and how can these be overcome? What kind of energy-efficiency measures is PICO best suited to? And what role can national and European policy play to facilitate implementation? These are the key questions that the EU-funded PICOLight project aimed to tackle. This was done through testing and disseminating the PICO schemes, first used in Germany, in six European countries, developing these further and making the necessary adaptations. PICO schemes were piloted in seven public administrations with the technical focus on energy-efficient lighting retrofits. The experiences gathered in these pilot projects should help to introduce PICO schemes on a larger scale in public administrations in Europe. The paper presents the preliminary results from these pilot projects
Purpose: Many countries receive international support to strengthen professional capacity. The effect of these professional development activities (PDAs), however, is often negligible. This article provides useful insights on how international aid organizations could improve their PDAs, by describing an intervention developed and applied in…
Basu, Sanjay; Stuckler, David; McKee, Martin
Several public health groups have called for the creation of a global fund for 'social protection'-a fund that produces the international equivalent of domestic tax collection and safety net systems to finance care for the ill and disabled and related health costs. All participating countries would pay into a global fund based on a metric of their ability to pay and withdraw from the common pool based on a metric of their need for funds. We assessed how alternative strategies and metrics by which to operate such a fund would affect its size and impact on health system financing. Using a mathematical model, we found that common targets for health funding in low-income countries require higher levels of aid expenditures than presently distributed. Some mechanisms exist that may incentivize reduction of domestic health inequalities, and direct most funds towards the poorest populations. Payments from high-income countries are also likely to decrease over time as middle-income countries' economies grow.
Full Text Available This paper explores how different public administrations (regional, national, European and Framework Program allocate public resources to promote innovation among innovative companies in the Spanish manufacturing industry. We incorporate variables that have never been treated in this line of research before, such as exportoriented and Pavitt’s taxonomy among others. In order to know the preferences of each public program aimed at promoting innovation we use two econometric estimation techniques: first, a binary logistic regression and, second, another binary logistic regression corrected for selection bias derived from the lack of consideration of certain relevant characteristics of manufacturing firms that do not innovate. We check if the importance and statistical significance of certain explanatory variables depend on the estimation method used. We found that the four public administrations preferably assign public resources to Spanish companies that cooperate with other domestic companies. We also found that European programs (EU and Framework Program show their allocation preferences towards innovative firms that export outside EU. The public aid from the Spanish central administration seeks to promote the creation of large ‘national champions’.
Hoehn, Karen; Stratmann, Johanna; Schaffler, Peter
As governments around the world prepare to adopt a new development framework and supportive financial flows, the OECD Development Assistance Committee is exploring new ways of measuring and reporting on resource flows enabling development, including population assistance. These changes will affect the evidence base, discourse about and donor incentives related to sexual and reproductive health and rights (SRHR). They may lead to: i) reduction of grant aid in favour of instruments that are less suitable for SRHR, like loans and market-like instruments; ii) expansion of the range of development stakeholders to include those with market power that can steer the discussion away from the needs of the most under-served populations; and iii) diversion of attention and resources away from SRHR. The discourse over how to provide, incentivize and report on development assistance in the new framework demonstrates the crucial relationship between knowledge, evidence, practice and power in relation to funding for SRHR in developing countries. With all that is at stake, although the OECD debate on the future of the development finance measurement system may seem highly abstract, this is a high-stakes game that SRHR advocates need to have a hand in. Those who seek to improve SRHR are well served to engage in these discussions as early and often as possible before the momentous decisions over the coming months. Copyright © 2015. Published by Elsevier Ltd.
Martin, Lawrence; Lawther, Wendell; Hodge, Graeme
sector partner designs-builds-finances-operates- maintains (DBFOM) a transportation infrastructure asset (road, highway, bridge, tunnel, etc.) with an emphasis on financing. Under this type of arrangement, the private sector partner is primarily responsible for securing all or substantially all......Transportation financing public-private partnerships (P3s) are a common practice in many countries. However, they represent a relatively new approach to transportation infrastructure financing for state and local governments in the United States. In a transportation financing P3 project, a private...
Atun, Rifat; Silva, Sachin; Ncube, Mthuli; Vassall, Anna
In 2015 around 15 million people living with HIV were receiving antiretroviral treatment (ART) in sub-Saharan Africa. Sustained provision of ART, though both prudent and necessary, creates substantial long-term fiscal obligations for countries affected by HIV/AIDS. As donor assistance for health remains constrained, novel financing mechanisms are needed to augment funding domestic sources. We explore how Innovative Financing has been used to co-finance domestic HIV/AIDS responses. Based on analysis of non-health sectors, we identify innovative financing instruments that could be used in the HIV response. We undertook a systematic review to identify innovative financing instruments used for (1) domestic HIV/AIDS financing in sub-Saharan Africa (2) international health financing and (3) financing in non-health sectors. We analyzed peer-reviewed and grey literature published between 2002 and 2014. We examined the nature and volume of funds mobilized with innovative financing, then in consultation with leading experts, identified instruments that held potential for financing the HIV response. Our analysis revealed three innovative financing instruments in use: Zimbabwe's AIDS Trust Fund (a tax/levy-based instrument), Botswana's National HIV/AIDS Prevention Support (BNAPS) International Bank for Reconstruction and Development (IBRD) Buy-Down (a debt conversion instrument), and Côte d'Ivoire's Debt2Health Debt Swap Agreement (a debt conversion instrument). Zimbabwe's AIDS Trust Fund generated US$ 52.7 million between 2008 and 2011, Botswana's IBRD Buy-Down generated US$ 20 million, and Côte d'Ivoire's Debt2Health Debt Swap Agreement generated US$ 27 million, at least half of which was to be invested in HIV/AIDS programs. Four additional categories of innovative financing instruments met our criteria for future use: (1) remittances and diaspora bonds (2) social and development impact bonds (3) sovereign wealth funds (4) risk and credit guarantees. A limited number of
Strange, Austin M.; Parks , Bradley; Tierney, Michael J.; Fuchs, Andreas; Dreher , Axel
China's provision of development finance to other countries is sizable but reliable information is scarce. We introduce a new open source methodology for collecting project-level development finance information and create a database of Chinese official finance to Africa from 2000 - 2011. We find that China's commitments amounted to approximately US$ 73 billion, of which US$ 15 billion are comparable to Official Development Assistance following OECD definitions. We provide details on 1,511 pro...
Full Text Available Abstract Dr. Pedro Cahn, International AIDS Society (IAS President and Mr. Craig McClure, IAS Executive Director, provide their thoughts and analysis on the current and future role of the IAS as part of the global response to HIV/AIDS.
Lopes Cardozo, Barbara; Gotway Crawford, Carol; Eriksson, Cynthia; Zhu, Julia; Sabin, Miriam; Ager, Alastair; Foy, David; Snider, Leslie; Scholte, Willem; Kaiser, Reinhard; Olff, Miranda; Rijnen, Bas; Simon, Winnifred
Background: International humanitarian aid workers providing care in emergencies are subjected to numerous chronic and traumatic stressors. Objectives: To examine consequences of such experiences on aid workers' mental health and how the impact is influenced by moderating variables. Methodology: We
These proceedings of the 13th International Conference on Computer Aided Engineering present selected papers from the event, which was held in Polanica Zdrój, Poland, from June 22 to 25, 2016. The contributions are organized according to thematic sections on the design and manufacture of machines and technical systems; durability prediction; repairs and retrofitting of power equipment; strength and thermodynamic analyses for power equipment; design and calculation of various types of load-carrying structures; numerical methods for dimensioning materials handling; and long-distance transport equipment. The conference and its proceedings offer a major interdisciplinary forum for researchers and engineers to present the most innovative studies and advances in this dynamic field.
Walangitan, Mac Donald; Mandey, S. L.; Tulandi, Christy
Job characteristic is the determinant of the fit between person with a particular line of work that explored. Welfare is the remuneration provided by the company based on the company rules. Work environment is physical and non-physical workplaces that have direct effect on employee. The purpose of this study is to determine the influence of job characteristic, welfare and work environment on employee performance at PT. Federal International Finance Manado. The population in the study is 65 e...
Bulman, Donna; Coben, Diana; Nguyen, Van Anh
This paper describes current trends in the HIV/AIDS epidemic. It looks at issues and strategies involved in educating women about HIV/AIDS in the context of the global pandemic, focusing particularly on Canada and Vietnam. These strategies are essential steps in preventing the spread of HIV and in caring for those who have already developed AIDS.…
Frisari, Gianleo; Stadelmann, Martin
Concentrated solar power (CSP) is a promising technology for low-carbon energy systems, as combined with thermal storage it can store solar energy as heat, and deliver power more flexibly and when most needed by the grid. However, its high cost prevents its rapid deployment and affects its affordability in emerging economies. International financial institutions (IFIs) have emerged as key players to enable CSP in emerging economies, especially when cooperating with national policymakers. Through the analysis of two CSP plants in India and Morocco where IFIs provided the lion's share of finance, this paper aims to assess the effectiveness of their support and estimate the impact of IFIs financing on electricity production costs and mobilization of private investments. The two case studies show that public financial institutions can play a leading role in reducing the cost of CSP support on public budgets by providing concessional loans in countries where public and/or private finance would be too expensive, or extending maturities where commercial investors are present but poorly suited for project finance. Finally, we show that, combined with competitive tariff setting mechanism (tenders and auctions), public financial support can also be a cost-effective tool to engage private investors in CSP. -- Highlights: •We analyze the financial model of two large-scale concentrated solar power (CSP) plants in two emerging markets (India and Morocco). •We focus on the role of policies and public finance in reducing investment risks and generation costs. •Development banks' concessional loans can reduce the weight of CSP support on public budgets. •Even when non-concessional, development banks' loans can reduce investment costs by extending debt maturities. •Competitive tariff setting mechanisms can ensure cost-effectiveness of public financial support
.... The Director, Defense Finance and Accounting Service (DFAS), who is the fund manager of the DFAS Working Capital Fund, is responsible for establishing and maintaining adequate internal controls and for complying with applicable laws and regulations...
Fejerskov, Adam Moe; Funder, Mikkel; Engberg-Pedersen, Lars
In the fall of 2015, world leaders adopted the most ambitious global development agenda in history. Meeting the aspiring targets of the Sustainable Development Goals will require financing far beyond traditional aid. At the same time, aid itself is under major pressure as European governments cut...... aid budgets or divert them to meet refugee and migration issues. In this context of massive global ambition and concurrent uncertainty on the future of aid, other actors and sources of development financing seem ever more critical, such as the private sector, private foundations and the BRICS....... But what are in fact the interests and modes of operation of such actors in the context of development financing, and to what extent do they align with the aims of the SDGs? And how do national governments of developing countries themselves perceive and approach these new sources of financing?...
..., (2) government commitment and support, and (3) a sound business plan. This workshop will be designed... power purchase agreements, are playing today in the financing of nuclear power projects in emerging... opportunity to network, build relationships in the global civil nuclear sector and learn more about current...
Brehm, William C.; Silova, Iveta
The logic behind international aid to development has typically centered on economics. Notwithstanding the variation in focus--from macroeconomic monetary and trade policies, to economic wealth programs aimed at creating jobs, to supply- and demand-side reforms--the central discourse on international aid has been dominated by a political…
The Bu Health Centre Project was initiated by the Presbyterian Church in. Cameroon (PCC) and the Bu people and adequately funded by 'Bread for the World' (BW), a Christian aid organisation. It was a community development initiative aimed at improving the health of the Bu people. But the foreign ecumenical health aid, ...
Jan 14, 2011 ... An IDRC-supported project in Peru employs youthful creativity and advanced communication technology in the battle against HIV/AIDS. New information and communication technologies (ICTs) are becoming an increasingly common tool in the fight against HIV/AIDS.
André SCHMITT; Sandrine SPAETER
The maritime oil transport is regulated by the 1992 Civil Liability Convention for Oil Damage and the 1992 Oil Pollution Compensation Fund. In this compensation regime, contributions of oil firms are based on the aggregate risk of the Fund and are assessed each time an oil spill is registered. In this paper, we present the main characteristics of such a compensation regime and we explain why oil firms would benefit from a reorga- nization of the financing of the Fund by introducing appropriat...
Pour les principes dominants de la « bonne » gouvernance depuis le rapport Cadbury de 1992, le gouvernement d’entreprise se définit comme un conflit d’agence entre actionnaires et managers. L’information financière, avec la juste valeur, incarne alors un moyen privilégié de résoudre par la transparence et la discipline de dispositifs de contrôle interne cette opposition. La présente contribution se propose en conséquence de répondre à la question de recherche suivante : dans quelle mesure la ...
Atteridge, A.; Pauw, W.P.; Terpstra, P.; Bedini, F.; Bosi, L; Costella, C.
An emphasis on private finance has emerged in climate finance discussions, particularly in the context of international climate change negotiations. This is partly because the overall volume of finance needed to support adaptation in developing countries is beyond what many expect public finance to
LAUREN E. LOPEZ
This paper studies the relationship between donor governments' Official Development Assistance (ODA) decisions and corruption in recipient countries over the period 1999-2010. Previous studies found that donors do not penalize recipients on the basis of corruption. Using a rich panel data set, this paper estimates the effect of corruption on aid using donor-recipient fixed effects and disaggregating aid into sectors which may vary in sensitivity to corruption. Overall, there is a moderately s...
Liang, Li-Lin; Mirelman, Andrew J
A consensus exists that rising income levels and technological development are among key drivers of total health spending. Determinants of public sector health expenditure, by contrast, are less well understood. This study examines a complex relationship across government health expenditure (GHE), sociopolitical risks, and international aid, while taking into account the impacts of national income, debt and tax financing and aging populations on health spending. We apply a fixed-effects two-stage least squares regression method to a panel dataset comprising 120 countries for the years 1995 through 2010. Our results show that democratic accountability has a diminishing positive correlation with GHE, and that levels of GHE are higher when government is more stable. Corruption is associated with less GHE in developing countries, but with higher GHE in developed countries. We also find that development assistance for health (DAH) is fungible with domestically financed government health expenditure (DGHE). For an average country, a 1% increase in DAH to government is associated with a 0.03-0.04% decrease in DGHE. Furthermore, the degree of fungibility of DAH to government is higher in countries where corruption or ethnic tensions are widespread. However, DAH to non-governmental organizations is not fungible with DGHE. Copyright © 2014 Elsevier Ltd. All rights reserved.
Full Text Available South-South Cooperation (SSC and North-South Aid (NSA arise from different historical conditions and there are great differences between their philosophies, principles and paradigms. Against the background of a changing global environment, developed countries realized that the original development aid architecture must be reformed on one hand, and that developing countries are increasingly important in the aid architecture on the other. Hence, Western donors began to rethink their aid principles and methods, and accepted the concept of development effectiveness gradually, an attempt to establish global development forum and global partnership including emerging donors, beneficiary countries, civil society and the private sector. Nevertheless, being developing countries themselves, emerging donors are faced with unsolved domestic poverty issues and imperfect aid management institutions, which means that the emerging donors are unable to take a dominant position in the current aid architecture. Hence, the future dialogue and cooperation between traditional and emerging donors should feature the principle that the responsibilities taken by each party are collective but not identical, with developing countries bearing the main responsibilities in promoting poverty reduction and economic development in developing countries. They should be mutually tolerant about the different philosophies and share useful experiences. Moreover, emerging donors should promote development capacity building in recipient countries through win-win cooperation and solve their domestic development issues at the same time.
... International Military Education and Training; Guatemala AGENCY: Department of State. ACTION: Notice. The... International Commission Against Impunity in Guatemala (CICIG) by granting access to CICIG personnel, providing... International Commission Against Impunity in Guatemala (CICIG) by granting access to CICIG personnel, providing...
among the visitor category, tourism, transit and those going on business trips are in the majority (Twum-Baah, 2005). CHARACTERISTICS OF MIGRANTS. Age ..... clude the co-development policy of France, 'Progresa' in Mexico and Spanish Migra- tion Accords to mention a few. The success of these 'aid for migration' ...
Oct 14, 2010 ... The global food crisis is putting more people at risk of contracting HIV/AIDS, argue food security experts. The global food crisis ... Women are moving away from agriculture and entering into labour contracts where sex is often implicit, which in turn increases their vulnerability to HIV. “This used to be called ...
Assessment of Irish Aid investment in the development of human resources for health in ... recently, donors were reluctant to support HRH development considered as higher education and not a priority for support. There have been .... Hawassa Health Sciences College and one short questionnaire was sent with the help of ...
Funk, Patricia E.
Nebraska's small schools have been shortchanged by recently enacted school finance policies. LB 1114, which limited property tax levy rates, and LB 806, which changed the state aid distribution formula, were first implemented for the 1998-99 school year. These measures were intended to force cuts in school expenditures, especially among smaller,…
This paper studies the financing of durable assets in a model with collateral constraints due to limited enforcement. Durability affects the ease of financing. Specifically, we show that more durable capital requires a larger down payment of internal funds per unit of capital making it harder to finance. Thus, financial constraints have a bigger impact on purchases of more durable capital, such as land, structures, and durable equipment. This basic insight has implications for the choice betw...
Phillips, Kenneth D; Moneyham, Linda; Tavakoli, Abbas
Stigma has grave consequences for persons living with HIV/AIDS. Stigma hampers prevention of HIV transmission to sexual partners and to unborn babies, diagnosis, and early treatment, and negatively affects mental and physical health, quality of life, and life satisfaction. Internalized stigma of HIV/AIDS may have even more severe consequences than perceived or enacted stigma. The purpose of this study was to develop an instrument to measure internalized stigma in those with HIV/AIDS. Data were drawn from the Rural Women's Health Project. Research assistants administered structured interviews at baseline, 3 months, and 6 months. Instruments used in these analyses included a demographic data form, the Centers for Epidemiological Studies Depression Scale (CES-D), the Perceived Stigma Scale (PSS), and the Internalized Stigma of AIDS Tool (ISAT). Exploratory factor analysis confirmed that the ten items of the ISAT measure a single factor that explains 88% of the variance in the construct. Internal consistency was demonstrated by a Cronbach's alpha of .91 (Time 1), .92 (Time 2), and .92 (Time 3). Convergent validity was supported with significant positive correlations with the CES-D (rho = 0.33, p Stigma of AIDS Tool appears to be a reliable and valid instrument to measure internalization of the stigma of HIV/AIDS. It may be of value in research and clinical assessment.
Klimchuk Marina N.
Full Text Available The article is aimed at studying the experience of financing the energy saving projects by leading countries of the world from the perspective of adapting the contemporary management-regulatory conditions of technology in terms of enterprises of the construction complex of Ukraine. On the basis of a content analysis of the existing practices of implementation of energy saving and enhancing energy efficiency, the following classification has been suggested: depending on the institutional socio-economic and environmental development, in accordance with the course of sustainable development, depending on the structure of economic system, depending on both time interval and subsectoral characteristic. Based on a scientific approach to the five levels in the structure of economic systems, barriers and recommendations for their prevention in the management of energy saving in construction at each of these levels have been identified. The article proposes strategic priorities of the State policy of energy saving in the construction industry, in particular holding of energy audits and energy performance certification of buildings, increasing the share of renewable energy sources in the energy balance of country; implementation of contemporary concepts of energy saving ("Green Lease", "Passive House", "Triple Zero"; establishing consulting-information centers for promoting energy saving measures.
.... The Government Auditing Standards (GAS) require that an audit organization performing Government audits have an appropriate internal quality control system and undergo an external quality control review every 3 years by an organization...
This report responds to the funds provided and spent at Chicago O'Hare International Airport for capital improvements in light of the questions about the capacity of the airport system in the Chicago area...
Full Text Available Five years on from the scandal of sexual exploitation of WestAfrican refugee children by humanitarians, has enough beendone to ensure that the system of international humanitarianassistance really does the good it is intended for?
The delivery of health care in poorer countries is reliant on international aid organizations. This article will focus on international aid and medical practice in the developing world. It will review the general issues, practices, and problems with international aid in the medical arena and will then focus on international aid, kidney detection, and prevention programs. The article will analyze some of the existing and successful organizations and their initiatives. The first part of this article will analyze such aspects as: the access of existing resources and available aid projects; the establishment of contact with international aid projects; the access of funds for the development of the project and, once it is established, the management of those funds; the planning of projects; and the role of research in international aid and medical practice both as a means of accessing resources and of managing the project. The second part of the article will look more specifically at issues in nephrology and international aid. The focus will be on current programs in nephrology and the critical appraisal of some existing programs. The last part will focus specifically on practical tasks which are needed when accessing international aid for medical projects. It will draw on the experiences of various programs and then outline suggested phases one should consider when establishing aid projects in order to best implement them. Kidney groups with intentions to deliver prevention and management strategies to developing countries need to learn from the experiences of existing international aid organizations and chronic kidney disease programs.
Sun, Jiangping; Liu, Hui; Li, Hui; Wang, Liqiu; Guo, Haoyan; Shan, Duo; Bulterys, Marc; Korhonen, Christine; Hao, Yang; Ren, Minghui
For 20 years, China has participated in 267 international cooperation projects against the HIV/AIDS epidemic and received ∼526 million USD from over 40 international organizations. These projects have played an important role by complementing national efforts in the fight against HIV/AIDS in China. The diverse characteristics of these projects followed three phases over 20 years. Initially, stand-alone projects provided technical support in surveillance, training or advocacy for public awareness. As the epidemic spread across China, projects became a part of the comprehensive and integrated national response. Currently, international best practices encourage the inclusion of civil society and non-governmental organizations in an expanded response to the epidemic. Funding from international projects has accounted for one-third of the resources provided for the HIV/AIDS response in China. Beyond this strong financial support, these programmes have introduced best practices, accelerated the introduction of AIDS policies, strengthened capacity, improved the development of grassroots social organizations and established a platform for communication and experience sharing with the international community. However, there are still challenges ahead, including integrating existing resources and exploring new programme models. The National Centre for AIDS/STD Control and Prevention (NCAIDS) in China is consolidating all international projects into national HIV prevention, treatment and care activities. International cooperation projects have been an invaluable component of China's response to HIV/AIDS, and China has now been able to take this information and share its experiences with other countries with the help of these same international programmes.
This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market.
This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market
Calder, Moira J.; Richter, Solina; Mao, Yuping; Kovacs Burns, Katharina; Mogale, Ramadimetja S.; Danko, Margaret
Universities recruit international students for a number of reasons, including enhancement of global contacts and reputation, to increase enrolment, and to generate revenue from tuition. These students face unique challenges as compared with domestic students, but no published studies or reports exist on this issue. In this article we report our…
Mügge, D.; Stellinga, B.
Accounting standards are the foundations of the financial regulatory edifice, and global financial governance is no more stable than the asset valuations that feed it. Yet for two decades and up to this day, no international accounting rule for financial instruments - the bulk of banks' balance
Li, Hui; Xue, Hui; Liu, Hui; Guo, Hao-yan; Zhang, Hua; Sun, Jiang-ping
To provide evidence for resource allocation and cooperation between domestic and international HIV/AIDS programs in China by analyzing the needs and current levels of resource input in provinces. National and provincial international cooperation program investment and allocation data from 2000 to 2006 were collected. Several factors in each province were analyzed through multiple regression analysis in order to determine whether they had a statistical correlation to the distribution of international HIV/AIDS program resources in China, including: the Gross Domestic Product (GDP), the number of accumulated people living with HIV/AIDS, and the number of accumulated people living with AIDS. Then the Z values were calculated at each provincial level and compared with related international investment. The resource allocation in different program areas were compared with the level of resource input by international and central government HIV/AIDS prevention and control programs through Chi-square test. The international cooperation program investment at local level from 2000 to 2006 were 4893, 24 669, 50 567, 52 950, 112 143, 363 396 and 247 045 thousand RMB respectively, and at national level were 3007, 19 726, 29 035, 37 530, 77 500, 105 786 and 77 035 thousand RMB respectively. There was a statistical correlation between international HIV/AIDS program resource input and the accumulated number of people living with AIDS (R is 0.56 and 0.69 accordingly, and P international resource input and the GDP of each province. International HIV/AIDS cooperation programs did not invest in each province according to its practical needs (R = 0.066, P = 0.725). The international cooperation program investments and needs in different province could not meet completely. The ranks of Z value in Guangdong, Shandong and Jiangsu were 3, 5 and 6, but the ranks of international cooperation program in those provinces were 18, 13 and 28 respectively. The investment proportion for national
International Journal of Natural and Applied Sciences. Journal Home · ABOUT THIS JOURNAL · Advanced Search · Current Issue · Archives · Journal Home > Vol 3, No 2 (2007) >. Log in or Register to get access to full text downloads. Username, Password, Remember me, or Register. DOWNLOAD FULL TEXT ...
Sheriffah Noor Khamseah Al-Idid Syed Ahmad Idid
Global energy security and climate change concerns sparked by escalating oil prices, high population growth and the rapid pace of industrialization are fueling the current interest and investments in nuclear power. Globally, a significant number policy makers and energy industry leaders have identified nuclear power as a favorable alternative energy option, and are presently evaluating either a new or an expanded role for nuclear power. The International Atomic Energy Agency (IAEA) has reported that as of October 2008, 14 countries have plans to construct 38 new nuclear reactors and about 100 more nuclear power plants have been written into the development plans of governments for the next three decades. Hence as new build is expected to escalate, issues of financing will become increasingly significant. Energy supply, including nuclear power, considered as a premium by government from the socio-economic and strategic perspective has traditionally been a sector financed and owned by the government. In the case for nuclear power, the conventional methods of financing include financing by the government or energy entity (utility or oil company) providing part of the funds from its own resources with support from the government. As national financing is, as in many cases, insufficient to fully finance the nuclear power plants, additional financing is sourced from international sources of financing including, amongst others, Export Credit Agencies (ECAs) and Multilateral Development Institutions. However, arising from the changing dynamics of economics, financing and business model as well as increasing concerns regarding environmental degradation , transformations in methods of financing this energy sector has been observed. This paper aims to briefly present on financing aspects of nuclear power as well as offer some examples of the changing dynamics of financing nuclear power which is reflected by the evolution of ownership and management of nuclear power plants
Sweeney, W. T.
As technology transfer becomes more popular and proves to be an economical method for companies of all sizes to take advantage of a tremendous amount of new and available technology from sources all over the world, the introduction of computers and terminals into the international technology transfer process is proving to be a successful method for companies to take part in this beneficial approach to new business opportunities.
Maximova, Anastasia; Gray, Patty A.; Murphy, Jennifer
Education has been a prominent part of Soviet development assistance. As a re-emerging donor Russia also recognizes its importance and provides its assistance in several ways, including free higher education in Russia to students from developing countries, contributions to the education pooled funds and a few programs being administered via multilateral institutions. Russia is facing various challenges in the area of international development assistance, such as limited institutional capacity...
Richey, Lisa Ann; Ponte, Stefano
This forum brings together a diverse group of scholars from international relations, international political economy, sociology, geography and development studies, to explore ‘Brand Aid’— a new concept in studies of North-South relations that can be advanced by IPE/IPS scholarship. In Brand Aid...... of the profit or sales is devoted to helping ‘distant others’. Brand Aid reconfigures images and representations of the legitimate role of business, civil society and the state (and their overlaps) in North-South relations in ways that are not easily situated between ‘exploitation’ and ‘development’....
Worldwide interest in improving the fuel efficiency of internal combustion (I.C.) engines has sparked research efforts designed to learn more about the flow processes of these engines. The flow fields must be understood prior to fuel injection in order to design efficient valves, piston geometries, and fuel injectors. Knowledge of the flow field is also necessary to determine the heat transfer to combustion chamber surfaces. Computational codes can predict velocity and turbulence patterns, but experimental verification is mandatory to justify their basic assumptions. Due to their nonintrusive nature, optical methods are ideally suited to provide the necessary velocity verification data. Optical sytems such as Schlieren photography, laser velocimetry, and illuminated particle visualization are used in I.C. engines, and now their versatility is improved by employing holography. These holographically enhanced optical techniques are described with emphasis on their applications in I.C. engines.
The 9th international symposium on LASER-AIDED PLASMA DIAGNOSTICS was held from 18th November to 21st September, 2007 at Takayama, Japan. This symposium was organized by the National Institute for Fusion Science, Toki, Japan. The topics of the symposium include laser diagnostics and diagnostics aided by lasers for fusion plasmas, industrial process plasmas, environmental plasmas as well as for other plasma applications and processes related to plasmas. Hardware development related to laser-aided plasma diagnostics is another topic. Over 80 participants attended this international symposium. 1 Akazaki lecture, 10 general talks, 10 topical talks, 12 short oral talks and 45 posters were presented. This issue is the collection of the papers presented at the title symposium. The 41 of the presented papers are indexed individually. (J.P.N.)
Jensen, Ida Ulleberg
This project aims to understand how the actors in the Ecuadorian environmental movement experience the cooperation with the international development aid industry. The environmental movement is defined here as those working with environmental issues, not pertaining to the government, be it national or international organizations, academics, grassroots movements, activists, or others. It is a qualitative study, and has applied the use of in-depth interviews to understand how the informants mak...
Deeks, Steven G.; Lewin, Sharon R.; Ross, Anna Laura; Ananworanich, Jintanat; Benkirane, Monsef; Cannon, Paula; Chomont, Nicolas; Douek, Daniel; Lifson, Jeffrey D.; Lo, Ying-Ru; Kuritzkes, Daniel; Margolis, David; Mellors, John; Persaud, Deborah; Tucker, Joseph D.; Barre-Sinoussi, Françoise
Antiretroviral therapy is not curative. Given the challenges in providing life-long therapy to a global population of over 35 million people living with HIV, there is intense interest in developing a cure for HIV infection. The International AIDS Society convened a group of international experts to develop a scientific strategy for research towards an HIV cure. This Perspective summarizes the group's strategy. PMID:27400264
Erling, Elizabeth J.
The increased status of English as the language of international communication and business has meant that development aid has increasingly been used to finance language planning initiatives aimed at improving and/or expanding English language education. The intended outcome of this aid is often to provide expanded economic returns and…
At an international conference attended by 2000 delegates, violence against women in Rwanda, former Yugoslavia, and Kurdistan was discussed. Kalliope Migirou, of the United Nations Human Rights Field Operation in Rwanda, described the slaughter of between 500,000 and 1.5 million Tutsis and moderate Hutus in 1994; estimates of the number of rapes ranged from 15,700 (Rwandan government) to 250,000-500,000 (UN special representative). Women were gang-raped and sexually mutilated; fathers were forced to rape their daughters, and sons, their mothers. The transmission of HIV was used as a weapon to murder women and their communities. Women were taken to refugee camps as sex slaves and have written their families about their "new marriages" to Hutu militia men. No rape charge is found among the more than 4000 cases prepared for the Rwandan war crimes trial. 80,000 Rwandans are in prison on suspicion of participating in the genocide; 8% are women. Violete Krasnic, of the Autonomous Women's Center Against Sexual Violence in Belgrade, spoke about the war in former Yugoslavia, which increased all forms of violence against women: 1) domestic violence, particularly in inter-ethnic marriages; 2) death threats against women (up 30-50%); 3) rape (up 30%); and 4) threats with weapons (40%). Men, upon exposure to nationalistic propaganda, used violence against their wives. Nazaneen Rasheed, a London-based representative of the Women's Union of Kurdistan, stated that women in northern Iraq had no power or land. While some turned to prostitution to survive, hundreds were killed by male relatives because of shame to the family.
Hammer, Scott M.; Eron, Joseph J.; Reiss, Peter; Schooley, Robert T.; Thompson, Melanie A.; Walmsley, Sharon; Cahn, Pedro; Fischl, Margaret A.; Gatell, Jose M.; Hirsch, Martin S.; Jacobsen, Donna M.; Montaner, Julio S. G.; Richman, Douglas D.; Yeni, Patrick G.; Volberding, Paul A.
Context The availability of new antiretroviral drugs and formulations, including drugs in new classes, and recent data on treatment choices for antiretroviral- naive and - experienced patients warrant an update of the International AIDS Society - USA guidelines for the use of antiretroviral therapy
Thompson, Melanie A.; Aberg, Judith A.; Cahn, Pedro; Montaner, Julio S. G.; Rizzardini, Giuliano; Telenti, Amalio; Gatell, José M.; Günthard, Huldrych F.; Hammer, Scott M.; Hirsch, Martin S.; Jacobsen, Donna M.; Reiss, Peter; Richman, Douglas D.; Volberding, Paul A.; Yeni, Patrick; Schooley, Robert T.
Context Recent data regarding the consequences of untreated human immunodeficiency virus (HIV) infection and the expansion of treatment choices for antiretroviral-naive and antiretroviral-experienced patients warrant an update of the International AIDS Society-USA guidelines for the use of
Thirty years have passed since China began its reform and opening up, to formally accept multilateral educational aid from international organizations, and multilateral educational assistance has made contributions that cannot be overlooked to the reform and development of China's education. This article reviews the history of China's acceptance…
Significant progress has been made in recent years to improve the quality of the evaluation of international aid. Increasingly, this includes an interest in improving the way evaluations are used to improve policies and programmes. However, the prevalence of symbolic use--a phenomenon that is often mentioned but rarely studied--reflects an…
The XV International AIDS Conference was held in Bangkok from 11 to 16 July 2004. The theme of the conference was 'Access for all\\'. It was an enormous gathering; 10 000 abstracts were accepted for presentation, of which approximately 400 were oral. There were 19 500 attendees from all over the globe with a high ...
Full Text Available OBJECTIVE: The paper projects the contribution to 2011-2015 international targets of three major pandemics by programs in 140 countries funded by the Global Fund to Fight AIDS, Tuberculosis and Malaria, the largest external financier of tuberculosis and malaria programs and a major external funder of HIV programs in low and middle income countries. DESIGN: Estimates, using past trends, for the period 2011-2015 of the number of persons receiving antiretroviral (ARV treatment, tuberculosis case detection using the internationally approved DOTS strategy, and insecticide-treated nets (ITNs to be delivered by programs in low and middle income countries supported by the Global Fund compared to international targets established by UNAIDS, Stop TB Partnership, Roll Back Malaria Partnership and the World Health Organisation. RESULTS: Global Fund-supported programs are projected to provide ARV treatment to 5.5-5.8 million people, providing 30%-31% of the 2015 international target. Investments in tuberculosis and malaria control will enable reaching in 2015 60%-63% of the international target for tuberculosis case detection and 30%-35% of the ITN distribution target in sub-Saharan Africa. CONCLUSION: Global Fund investments will substantially contribute to the achievement by 2015 of international targets for HIV, TB and malaria. However, additional large scale international and domestic financing is needed if these targets are to be reached by 2015.
There appears to be a gap between the billions of dollars inputted into fighting HIV/AIDS and TB and outcomes. This in part can be attributed to the lack of attention in International Development to managing programmes and projects within complex levels of cross-cultural interactions. International Development often ignores management issues, yet Management Studies is left wanting through a lack of engagement with development issues including the fight against disease and poverty. This paper attempts to link these two disciplines towards mutual benefit, through a critical cross-cultural approach. It provides contextualization of international development policies/strategies; conceptualization of dominant paradigms; structural analysis of how a programme/project fits into the global governance structure; analysis of complexities and levels of cross-cultural interaction and their consequences and the process and implications of knowledge transfer across cultural distances. It concludes with implications for policy and practice, as well as what is needed from cross-disciplinary research. This includes how feedback loops can be strengthened from local to global, how indigenous knowledge may be better understood and integrated, how power relations within the global governance structure could be managed, how cross-cultural interaction could be better understood, and how knowledge transfer/sharing should be critically managed. Copyright © 2010 John Wiley & Sons, Ltd.
Full Text Available Ethiopia has experienced more than five major droughts in the past three decades, leading to high dependency on international food aids. Nevertheless, studies indicate that asset depletion has not been prevented; neither did food insecurity diminish. Since 2004/5, the Productive Safety Net Programme (PSNP has been implemented to improve food security in Tigray, Northern Ethiopia. Critics point out that the implementation of food aid programmes can have negative impacts as well as positive outcomes for local communities. Accordingly, this survey study aimed to analyse the distribution and allocation of food aids in the Productive Safety Net Programme (PSNP in Tigray. Results of 479 interviews revealed that targeting different households in the PSNP has been considerably linked to socio-demographic attributes among which age and size of family were decisive factors to receive food aids. Furthermore, older households with smaller family size received more direct support. Inequality between genders was another major finding of this study. When combined with the marital status, there was also a big difference in the percentage of married or unmarried women receiving food aids. These findings could provide fundamental information for policy intervention to correct food security programmes at household level and reduce hunger. Given that, socio-demographic factors can help to identify particular and usually different requirements, vulnerabilities and coping strategies of the members of the food aid programme, so that they can be much more addressed when an emergency happens.
International audience; La Loi de Sécurité Financière du 1 août 2003, qui s'inscrit dans la continuité de loi américaine Sarbanes- Oxley, a pour objectif de rétablir la confiance des investisseurs dans la fiabilité et la transparence de l'information financière. L'article étudie les conséquences organisationnelles prévisibles de cet loi sur le contrôle interne, et la normalisation de son évaluation et de sa documentation. Pour cela, l'article mobilise un cadre théorique et une étude de terrai...
Kesselman, Andrew; Soroosh, Garshasb; Mollura, Daniel J
Radiology in low- and middle-income (developing) countries continues to make progress. Research and international outreach projects presented at the 2015 annual RAD-AID conference emphasize important global themes, including (1) recent slowing of emerging market growth that threatens to constrain the advance of radiology, (2) increasing global noncommunicable diseases (such as cancer and cardiovascular disease) needing radiology for detection and management, (3) strategic prioritization for pediatric radiology in global public health initiatives, (4) continuous expansion of global health curricula at radiology residencies and the RAD-AID Chapter Network's participating institutions, and (5) technologic innovation for recently accelerated implementation of PACS in low-resource countries. Published by Elsevier Inc.
Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing
Although consumer finance is a substantial element of the economy, it has had a smaller footprint within financial economics. In this review, I suggest a functional definition of the subfield of consumer finance, focusing on four key functions: payments, risk management, moving funds from today to tomorrow (saving/investing), and from tomorrow to today (borrowing). I provide data showing the economic importance of consumer finance in the American economy. I propose a historical explanation fo...
Full Text Available Le développement de l’industrie pharmaceutique québécoise est souvent considéré comme l’histoire d’une réussite industrielle issue d’une politique ciblée d’aide aux industries à haute valeur ajoutée. Toutefois, le Québec paie cher ses incitatifs financiers au secteur pharmaceutique à travers une série de mesures qui vont au-delà d’une simple politique de brevet : 1 crédits d’impôt, 2 politique de prix généreuse, 3 règle des 15 ans et 4 subventions directes aux entreprises. En contrepartie, le Québec bénéficie de retombées économiques importantes, dont les dépenses en recherche et développement (R&D et la création d’emploi dans un secteur à haute valeur ajoutée. Cet article chiffre le montant de l’aide publique reçue par l’industrie pharmaceutique au Québec et compare ce montant aux retombées économiques de ce secteur au Québec. L’article démontre que les aides financières publiques accordées à l’industrie pharmaceutique québécoise pour encourager la R&D sont en fait de 1,81 à 6,76 fois supérieures à l’ensemble des dépenses nettes de l’industrie pharmaceutique québécoise en R&D.The development of Quebec’s pharmaceutical industry is often considered a success story resulting from Quebec’s specific policies supporting industries with high value-added. Quebec, however, pays a lump sum to provide financial incentives to the pharmaceutical sector through innovation policies that goes beyond patent policy: 1 tax credits 2 generous pricing policy 315-years rule and 4 direct subsidies to companies. In exchange for these policies, Quebec benefits from important economic spin-offs from the pharmaceutical sector, including investment in R&D, as well as job creation in a high value-added sector. The article sums up all public financial subsidies to Quebec’s pharmaceutical industry and compares the results to economic spin-offs generated by this industry. The article shows that
This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project
Welling, Rodney D.; Azene, Ezana M.; Kalia, Vivek; Pongpirul, Krit; Starikovsky, Anna; Sydnor, Ryan; Lungren, Matthew P.; Johnson, Benjamin; Kimble, Cary; Wiktorek, Sarah; Drum, Tom; Short, Brad; Cooper, Justin; Khouri, Nagi F.; Mayo-Smith, William W.; Mahesh, Mahadevappa; Goldberg, Barry B.; Garra, Brian S.; DeStigter, Kristen K.; Lewin, Jonathan S.; Mollura, Daniel J.
The 2010 RAD-AID Conference on International Radiology for Developing Countries was a multidisciplinary meeting to discuss data, experiences, and models pertaining to radiology in the developing world, where widespread shortages of imaging services reduce health care quality. The theme of this year’s conference was sustainability, with a focus on establishing and maintaining imaging services in resource-limited regions. Conference presenters and participants identified 4 important components of sustainability: (1) sustainable financing models for radiology development, (2) integration of radiology and public health, (3) sustainable clinical models and technology solutions for resource-limited regions, and (4) education and training of both developing and developed world health care personnel. PMID:21807349
Bare, Matthew; Kauffman, Craig; Miller, Daniel C.
International conservation donors have spent at least 3.4 billion to protect biodiversity and stem tropical deforestation in Africa since the early 1990s. Despite more than two decades of experience, however, there is little research on the effect of this aid at a region-wide scale. Numerous case studies exist, but show mixed results. Existing research is usually based on community perception or focused on short-term donor objectives rather than specific conservation outcomes, like deforestation rates. Thus, the impact of billions of dollars of conservation aid on deforestation rates remains an open question. This article uses an original dataset to analyze the effect of international conservation aid on deforestation rates in 42 African countries between 2000 and 2013. We first describe patterns of conservation aid across the continent and then assess its impact (with one to five-year lags), controlling for other factors that may also affect deforestation, including rural population, protected areas (PAs), governance, and other economic and commodity production variables. We find that conservation aid is associated with higher rates of forest loss after one- or two-year lags. A similar result holds for PA extent, suggesting possible displacement of deforestation from PAs. However, governance quality in high forest cover countries moderates these effects such that deforestation rates are reduced. Rural population is the most consistent factor associated with forest loss, confirming previous studies of this driver. Our results suggest that in heavily forested countries, development projects designed to support conservation work initially in conditions of good governance, but that conservation aid alone is insufficient to mitigate larger deforestation drivers.
The communique from the G20 Finance Ministers and Central Bank Governors meeting held on 5 November 2012 in Mexico City included the following passage: ''We welcome the report prepared by the IEA, the IEF and the OPEC on increasing transparency in international gas and coal markets and ask these organizations to propose practical steps by mid-2013 that G20 countries could take to implement them.'' The attached joint paper represents a collaborative effort by the three international organizations to fulfill the request from the G20. The joint paper was submitted to the G20 on 24 May 2013.
Luiz de Mello; Douglas Sutherland
The need for infrastructure building, replacement and updating is large worldwide and governments - particularly subnational governments - will need to mobilise budgetary resources while simultaneously restoring public finances to sound health and meeting other spending pressures. This paper considers the factors affecting investment in infrastructure (with an emphasis on fixed networks), the specific characteristics of the different financing modalities applicable to subnational governments ...
Full Text Available This paper discuss some general principles of behavioral finance Behavioral finance is the dynamic and promising field of research that mergers concepts from financial economics and cognitive psychology in attempt to better understand systematic biases in decision-making process of financial agents. While the standard academic finance emphasizes theories such as modern portfolio theory and the efficient market hypothesis, the behavioral finance investigates the psychological and sociological issues that impact the decision-making process of individuals, groups and organizations. Most of the research behind behavioral finance has been empirical in nature, concentrating on what people do and why. The research has shown that people do not always act rationally, nor they fully utilise all information available to them.
Butkus, Renee; Lane, Susan; Steinmann, Alwin F; Caverzagie, Kelly J; Tape, Thomas G; Hingle, Susan T; Moyer, Darilyn V
In this position paper, the Alliance for Academic Internal Medicine and the American College of Physicians examine the state of graduate medical education (GME) financing in the United States and recent proposals to reform GME funding. They make a series of recommendations to reform the current funding system to better align GME with the needs of the nation's health care workforce. These recommendations include using Medicare GME funds to meet policy goals and to ensure an adequate supply of physicians, a proper specialty mix, and appropriate training sites; spreading the costs of financing GME across the health care system; evaluating the true cost of training a resident and establishing a single per-resident amount; increasing transparency and innovation; and ensuring that primary care residents receive training in well-functioning ambulatory settings that are financially supported for their training roles.
Hasan, M Tanvir; Nath, Samir Ranjan; Khan, Nabilah S; Akram, Owasim; Gomes, Tony Michael; Rashid, Sabina F
Internalized stigma among people living with HIV/AIDS (PLHA) is prevalent in Bangladesh. A better understanding of the effects of stigma on PLHA is required to reduce this and to minimize its harmful effects. This study employed a quantitative approach by conducting a survey with an aim to know the prevalence of internalized stigma and to identify the factors associated with internalized stigma among a sample of 238 PLHA (male=152 and female=86) in Bangladesh. The findings suggest that there is a significant difference between groups with the low- and the high-internalized HIV/AIDS stigma in terms of both age and gender. The prevalence of internalized stigma varied according to the poverty status of PLHA. An exploratory factor analysis (EFA) found 10 of 15 items loaded highly on the three factors labelled self-acceptance, self-exclusion, and social withdrawal. About 68% of the PLHA felt ashamed, and 54% felt guilty because of their HIV status. More than half (87.5% male and 19.8% female) of the PLHA blamed themselves for their HIV status while many of them (38.2% male and 8.1% female) felt that they should be punished. The male PLHA more frequently chose to withdraw themselves from family and social gatherings compared to the female PLHA. They also experienced a higher level of internalized stigma compared to the female PLHA. The results suggest that the prevalence of internalized stigma is high in Bangladesh, and much needs to be done by different organizations working for and with the PLHA to reduce internalized stigma among this vulnerable group.
Ruth, A.; Fontaine, L.; Coughlan, E.R.; Kampfer, K.; Wyjad, K.; Destrooper, M.; Amuron, I.; Choularton, R.; Burer, M.; Miller, R.; Anderson, R.; de Silva, P.L.
Within the Action Plan for Humanitarian Adaptation to Climate Change initiated by the German Federal Foreign Office a new and innovative framework to humanitarian action is developed, the forecast-based financing mechanism. This scientifically based funding system shall enable practitioners and
Atas, Ahmet; Tutar, Hakan; Gunduz, Bulent; Bayazıt, Yıldırım A
In this study, we aimed to compare the outcomes of satisfaction of the patients who used hearing aids preceding the vibrant sound bridge (VSB) application on middle ear windows (14 oval window and 5 round window). Nineteen adult patients with conductive or mixed hearing loss were included in the study. All patients used behind the ear hearing aids on the site which was selected for VSB application. The patients used hearing aids for at least 3 months before the VSB operation. The floating mass transducer (FMT) was placed on one of the middle ear windows (oval or round) in VSB operation. The patients were evaluated with International Outcome Inventory for Hearing Aids (IOI-HA) preoperatively after at least 3 months trial of conventional hearing aid and postoperatively after 3 months use of VSB. No perioperative problem was encountered. The total score of IOI-HA was significantly higher with VSB compared with conventional hearing aids (p 0.05). The IOI-HA scores were significantly higher with the middle ear implant than the conventional hearing aid regarding benefit and residual participation restrictions (p < 0.05). Although the scores for quality of life assessment was similar between VSB and hearing aid use, there was a superiority of VSB in terms of benefit and residual participation restrictions as well as overall IOI-HA scores as the FMT was placed on one of the middle ear windows.
Hirth, Stefan; Flor, Christian Riis
Intuition suggests that corporate investment should be decreasing in financing constraints. We show that even when financing is obtained using a standard debt contract and there is symmetric information between the firm and outside investors, the relation is actually U-shaped. We thus provide a new...... theoretical explanation for the recent empirical findings of Cleary et al. (2007). We split up the endogenously implied financing costs and propose a trade-off between expected liquidation costs and second-best investment costs. For rather unconstrained firms, the risk of costly liquidation dominates the cost...
This article explores the context of intercultural relations in the field of international aid and development. Examining the activities of a large UK-based transnational NGO (OxfamGB) through a detailed reading of its own 60-year-long archived story, the article seeks to reimagine the "contact zones" of aid and development as…
Nazari, Mehrdad M.
This paper presents two case studies involving private sector, offshore, oil field developments in the Caspian Sea. Environmental Impact Assessments (EIAs) of these operations indicated that major and unmitigated oil spills could potentially result in transboundary impacts. Both projects were co-financed by the European Bank for Reconstruction and Development (EBRD), an International Financial Institution (IFI). Project review and financing decision by the EBRD occurred when neither country hosting the projects was a Party to the 1991 Convention on EIA in a Transboundary Context (Espoo Convention). Discussions with government agencies during project review highlighted their limited institutional capacity to pursue transboundary notification and consultation activities. However, without being formal Parties or having clearly defined roles under the Convention, the combined presence of the EBRD, the private sector developer and its project needing financing became important drivers to promote the Espoo Convention. Surveying for similar IFI-project combinations in developing and transition economies could provide a 'bottom up' input to further optimise the Convention Secretariat's awareness raising, intervention design, and alliance-building strategies. The knowledge management model and user-friendly Web site of the 1992 Convention on Biological Diversity highlight approaches that may also prove effective for the Espoo Convention
Full Text Available The Angolan financial system is observing several regulatory changes that are being adopted by local banks at a considerable speed in the last years. Considering the pressured context in which such changes are being internalized, this study is intended to ascertain the level of implementation and the way that control systems are being adopted by the Angolan financial institutions, in order to prevent and combat money laundering and financing of terrorism. A survey was submitted to the banking institutions that operate in the Angolan financial sector with the purpose of understanding to what extent prevention controls and mechanisms for money laundering and financing of terrorism have been implemented, and identify the main difficulties that banking institutions are facing on the adoption of such controls and mechanisms. Using a descriptive analysis, the results show that the banking institutions consider to have implemented control systems that are capable of mitigating the risk of money laundering and financing of terrorism. The results also show that, although there are formal and concrete policies in place, the Angolan banking institutions possess deficient control tools in terms of information systems and data management and lack adequate staff training which potentially threatens the effectiveness of the controls that have been implemented.
Sullivan, T. J.; Chino, M.; Ehrhardt, J.; Shershakov, V.
This paper discusses a collaborative project (1) to demonstrate the feasibility and benefit of a system seeking early review, in a 'quasi peer review' mode, of nuclear accident plume and dose assessment predictions by four major international nuclear accident emergency response systems before release of calculations to respective national authorities followed by (2) sharing these results with responsible national/international authorities, (3) development of an affordable/accessible system to distribute results to countries without prediction capabilities and (4) utilisation for exercises and collaboration studies. The project exploits Internet browser technology and low-cost PC hardware, incorporates an Internet node, with access control, for depositing a minimal set of XML-based graphics files for presentation in an identical map format. Side-by-side viewing and tele-video conferencing will permit rapid evaluation, data elaboration and recalculation (if necessary) and should produce strong consensus among decision makers. Successful completion affords easy utilisation by national/international organisations and non-nuclear states at risk of trans-boundary incursion. (authors)
Beldi, Adel; Chastenet, Edouard; Dupuis, Jean-Claude; Talfi, Mohamed
National audience; Face à l'absence de reconnaissance en comptabilité des marques générées en interne, la divulgation d'informations complémentaires pourrait être la solution la plus adéquate pour informer le marché sur la valeur de ces actifs incorporels. Cet article étudie la pertinence de la valorisation financière des marques et son impact sur la capitalisation boursière des entreprises qui les possèdent. Sur la base d'un échantillon de 153 observations représentant les valeurs des princi...
Traditional 'business as usual' financing methods will no longer be adequate to meet the unprecedented demands for capital to finance energy sector expansion in the developing countries. In recognition, many countries are opening up their power sectors to private investment, initially through the establishment of independent power projects, but in some cases through sector privatization. Project financing has many advantages, but further sectoral reorganization, including tariff reform, will be needed to attract resources on the scale required, especially from domestic investors. In oil and gas, in contrast to power, private capital from the international oil companies has always played a major role in the developing countries. However, sharply increasing investment requirements require a growing role for external finance. There should, in principle, be no shortage of investible funds to finance energy sector expansion in developing countries so long as host countries establish conditions which are attractive to private investors. The augmented role of private finance requires a continuing, if different, role for the public sector in both host countries and official aid agencies. (author)
Full text: Nuclear accidents/incidents cause significant fear in citizens perceived to be (potentially) impacted. Such events challenge national governments and international agencies to quickly and confidently provide assurance and protection advice. Based on the experience of several radiological accidents, e.g., Three Mile Island, Chernobyl, Algeciras, etc., it is evident that large areas, frequently transboundary, and numbers of citizens have the potential to be impacted. Additionally, as a consequence of current 'globalization', i.e. governmental, business, education and leisure travel, most nations now daily host numerous international visitors whose national government embassies have a responsibility to advise and project them from hazards. This mixture of large area, transboundary and international mobility presents a significant challenge to the decision maker community in order to deliver the best consistent advice to all those potentially impacted by a nuclear accident (and assure those not impacted). Post-Chernobyl there has been definitive progress and agreement in the determination of dose protection thresholds. In the same time period there has been a proliferation of dispersion models and assessment systems (from the local to the international scale) to support decision makers at all levels of government. Unfortunately, due to the varying parameters of scale, resolution, input data, and physics assumptions, the consequent assessment results can vary substantially enough [Atmes] to potentially cause confusion and even contradiction when presented to decision makers. Such a circumstance potentially leads to wrong decisions, undercuts confidence and negates all the work and benefits of good assessment calculations. From 1996 to 1999 Japan (JAERI) and the USA (LLNL) investigated, developed and tested an initial capability to share basic event information (start time, source/rates, local meteorology, local measurements, etc.) and calculated assessment
Francisco Javier Haro Navejas
Full Text Available This paper analyzes the Official Development Aid (AOD that has as its source Taiwan and as its destination Central America. It has three basic aims: Firstly, there is a huge bibliographic vacuum on the topic of these pages. Beginning filling it is an academic need. Even some intellectuals feel that they should lean against either Beijing or Taipei, that if they write on Taiwan they should defend or attack one of the contending parties. Here it is seen that a study close to objectivity is possible. Secondly, most of the research in International Relations has been focused on topics related with power itself or with just elements related with hard power. AOD is both hard and soft power, therefore this paper shades light to the dark side partially viewing international relations from a theoretical perspective were interactions help to construct identities and cooperation is an essential variable of world politics. Finally, it will be seen below that the Taiwanese cooperativeeconomic actions are helpful to the progress of poor parts of the Central American region and are helpful to create domestic markets with strong links with the world market deepening the economic integration both regional and global. Aid from Taiwan and some other countries, mainly through the transmission of know how, could be of assistance in surmounting huge troubles. Aid is vital because some of Central American’s problems are being exported mainly to México and the United States under the form, just to give an example, of Mara Salvatrucha gangs source of violence and drug trafficking. It is not meaningless to stress that Taiwanese ODA is by far not enough and is very small in the international context.
Internal Audit, Military. Museums, Documentation. Service, Language. Service, Financial Co-ordination, Chief Pay Mas- ter, Programming and Budget, Electronic Data. Processing and Expenditure Control. Chief of Staff Finance. With effect from 13 February 1978 Chief of Staff. Management Services became Chief of Staff.
Private financing is the latest mark of the privatisation of global governance. The implementation of international agreements in the fields of environment, climate change and development has always been supported by public finance from developed countries. This tradition is broken by a
Paiva, Sofia M M; Simões, João F C P M; Paiva, António M Diogo; Sousa, Francisco J F Castro E; Bébéar, Jean-Pierre
To translate the International Outcome Inventory for Hearing Aids (IOI-HA) Questionnaire from English to Portuguese (from Portugal) and to validate this instrument of study on the Portuguese population. In this prospective study, a translation from English into Portuguese of the IOI-HA was performed, and linguistic adaptation and counter translation were also accomplished. The data were analysed for internal consistency testing for correlations between each individual item and the total score of the IOI-HA, assessing the Cronbach α and performing test-retest analysis. 80 hearing aid users aged 18 years or older were recruited from an ear, nose and throat (ENT) appointment in Coimbra's hospital, Portugal. 84% of the participants were unilateral hearing aid users, whereas 16% were bilateral users. The patients volunteered to answer the questionnaire during an ENT appointment. All of the patients had been using the hearing aids for more than 3 years.After the first application of the questionnaire, a new appointment was planned for retesting, within at least 7 days to no more than 60 days. 29 participants answered the questionnaire again according to the same procedure. The mean IOI-HA total score in the study population was 27.33±4.93 (9-35). The mean values obtained for each item of the questionnaire ranged from 3.19 to 4.54. The Cronbach α was 0.838 and the Cronbach α values when the item was removed, were also significantly strong. The test-retest analysis revealed no differences between the paired groups. In the present study a valid and reliable translation and adaptation of the IOI-HA into Portuguese from Portugal is proposed. This tool will be available for clinical assessment of hearing aid users. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.
The effects of 'natural' disasters in cities can be worse than in other environments, with poor and marginalised urban communities in the developing world being most at risk. To avoid post-disaster destruction and the forced eviction of these communities, proactive and preventive urban planning, including housing, is required. This paper examines current perceptions and practices within international aid organisations regarding the existing and potential roles of urban planning as a tool for reducing disaster risk. It reveals that urban planning confronts many of the generic challenges to mainstreaming risk reduction in development planning. However, it faces additional barriers. The main reasons for the identified lack of integration of urban planning and risk reduction are, first, the marginal position of both fields within international aid organisations, and second, an incompatibility between the respective professional disciplines. To achieve better integration, a conceptual shift from conventional to non-traditional urban planning is proposed. This paper suggests related operative measures and initiatives to achieve this change.
Moran, Michael; Stone, Diane
This chapter examines the role and function of philanthropy in international development policy. Philanthropy has deep roots in international development and its present influence is far from novel. Yet changes in the political economy of development finance, including growing private aid flows and continuing strain on the bilateral and multilateral aid systems, have increased its relative importance. Simultaneously, newly emerging foundations have financed novel institutional mechanisms for ...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Supplier's Certificate and Agreement With the Agency for International Development (AID 282) A Appendix A to Part 201 Foreign Relations AGENCY FOR..., App. A Appendix A to Part 201—Supplier's Certificate and Agreement With the Agency for International...
HEALTH & FINANCE. Patrick Thokwa Masobe. Patrick Thokwa Masobe completed his undergraduate studies at Grinnel/. University in the USA, and a Master. Degreefrom the University of London in. 1995. He is wrrently employed by the national Department of Health, where he led the task team charged with making.
One of the major challenges in todays post-crisis finance environment is calculating the sensitivities of complex products for hedging and risk management. Historically, these derivatives have been determined using bump-and-revalue, but due to the increasing magnitude of these computations does...
dr. Margreet F. Boersma-de Jong
Presentation for Springschool of Strategy, University of Groningen, 10 October 2012. The role of CSR is to stimulate ethical behaviour, and as a result, mutual trust in society. Advantage of CSR for the company and the evolution of CSR. From CSR to Sustainable Finance: how does CSR influence
Finance, real estate and business services are expanding their share with regard to government services. South Africa's ...... Although limited in amplitude, venture capital (VC) initiatives have existed since the 1980s, supported by the Brazilian Innovation Agency (FINEP) and BNDES (Melo 1988 and 1994). The question ...
Jammet, H.; Nenot, J.C.
The growing use of radionuclides, whether at hospital, laboratory or nuclear facility level, increases the risk of internal contamination. Not only that, some particularly dangerous elements are being handled more and more frequently. Hence the importance of therapeutic concepts based on the general principles governing action to be taken in cases of internal contamination. These principles should be applicable without the nature of the contaminant having to be taken into account, and irrespective of whether it is transferable and of the route of entry, i.e. healthy skin, wound or bronchial tree. The basic principle is the concept of urgency: ''blind'' treatment should be applied merely on the supposition of internal contamination. It is desirable, moreover, that the first aid should be given at the site of the accident. Hence, the product used should be non-toxic under normal conditions of use and should be simple to apply, as, for example, the administration of an aerosol. It is not until later that the doctor should undertake treatment in the proper sense of the term, the emergency treatment having afforded him sufficient time to carry out the preliminary examination required to gain an exact idea of the internal contamination. (author)
Suominen, Tarja; Karanja-Pernu, Caroline; Kylmä, Jari; Houtsonen, Jarmo; Välimäki, Maritta
The purpose of this pilot study was to illustrate international university students' knowledge of HIV and AIDS, attitudes towards HIV and AIDS and risk behaviours in relation to HIV and AIDS. Questionnaires were posted to 140 students, and 32 responded. Data were analysed statistically. The results indicated a fairly good knowledge level of HIV and AIDS. The majority of students were well aware of the general facts about HIV and AIDS, modes of transmission and main risk groups, and they were also aware of the universal precautions. The majority of students had positive attitudes towards persons with HIV and AIDS and were willing to care for them. The students identified well with risk behaviours. Most agreed that their knowledge level of HIV and AIDS did affect their risk behaviours, while others felt it was a matter of choice, personal attitude and practice. Choice is a determining factor for decisions made by students in relation to HIV and AIDS. Future research focusing on factors influencing these choices that put them at risk of contracting the HIV virus is recommended. Students also need to be enlightened on matters concerning symptoms of HIV and AIDS.
Selaya, Pablo; Sunesen, Eva Rytter
The notion that foreign aid and foreign direct investment (FDI) are complementary sources of capital is conventional among governments and international cooperation agencies. This paper argues that the notion is incomplete. Within the framework of an open economy Solow model we show that the th...... The notion that foreign aid and foreign direct investment (FDI) are complementary sources of capital is conventional among governments and international cooperation agencies. This paper argues that the notion is incomplete. Within the framework of an open economy Solow model we show...... that the theoretical relationship between foreign aid and FDI is indeterminate. Aid may raise the marginal productivity of capital by financing complementary inputs, such as public infrastructure projects and human capital investment. However, aid may also crowd out productive private investments if it comes...
Andrade Cavalcanti, C. de.
The importance of financing instruments as means for the promotion of international nuclear trade is analysed. Besides the specific characteristics of nuclear trade is examined. Furthermore the role of governmental authorities and international agencies, mainly the IAEA is discussed. Finally the presence of Brazil in the international financial market and the financing of nuclear trade in Brazil are described [pt
Branco, Isabel; Paixão, José
This proceedings volume consists of papers presented at the Sixth International Workshop on Computer-Aided Scheduling of Public Transpon, which was held at the Fund~lio Calouste Gulbenkian in Lisbon from July 6th to 9th, 1993. In the tradition of alternating Workshops between North America and Europe - Chicago (1975), Leeds (1980), Montreal (1983), Hamburg (1987) and again Montreal (1990), the European city of Lisbon was selected as the venue for the Workshop in 1993. As in earlier Workshops, the central theme dealt with vehicle and duty scheduling problems and the employment of operations-research-based software systems for operational planning in public transport. However, as was initiated in Hamburg in 1987, the scope of this Workshop was broadened to include topics in related fields. This fundamental alteration was an inevitable consequence of the growing demand over the last decade for solutions to the complete planning process in public transport through integrated systems. Therefore, the program of thi...
The literature indicates that the health of women in Afghanistan is poor. In 1997 maternal mortality in Afghanistan was one of the worst in the world. Difficulties in establishing health services revolve around fundamentalist Islamic ideas and ongoing violence within Afghanistan. The literature holds advice on key behaviours for health professionals who may chose to work in Afghanistan. The literature also identifies the local level action that is occurring as the issue of women's health is recognised. Humanitarian assistance has been provided, with international aid agencies having to weigh the ethical responsibilities they hold and one agency tragically facing the violent loss of its own staff. Easy answers are not in the literature, merely an opportunity to understand, consider, and take action about what is facing women in Afghanistan and those who try to help.
Le Loup, G; Fleury, S; Camargo, K; Larouzé, B
The sustainability of successful public health programmes remains a challenge in low and middle income settings. These programmes are often subjected to mobilization-demobilization cycle. Indeed, political and organizational factors are of major importance to ensure this sustainability. The cooperation between the World Bank and the Brazilian AIDS programme highlights the role of international institutions and global health initiatives (GHI), not only to scale up programmes but also to guarantee their stability and sustainability, at a time when advocacy is diminishing and vertical programmes are integrated within health systems. This role is critical at the local level, particularly when economic crisis may hamper the future of public health programmes. Political and organizational evolution should be monitored and warnings should trigger interventions of GHI before the decline of these programmes.
Igor V. Evstigneev; Thorsten Hens; Klaus Reiner Schenk-Hoppé
Evolutionary finance studies the dynamic interaction of investment strategies in financial markets. This market interaction generates a stochastic wealth dynamics on a heterogenous population of traders through the fluctuation of asset prices and their random payoffs. Asset prices are endogenously determined through short-term market clearing. Investors' portfolio choices are characterized by investment strategies which provide a descriptive model of decision behavior. The mathematical framew...
Binaté Fofana, N.
This thesis deals with the effectiveness and the capability of microfinance institutions in enhancing women’s livelihood and empowerment, and mitigating the effects of HIV and AIDS on affected women and their households in Côte d’Ivoire. This study was carried out within the framework of the AWLAE
Full Text Available When, scarcely five years after its advent, the movement of aid societies for the relief of soldiers wounded in battle in international wars, set out to examine what should their activities be in peacetime, many debates were opened up as to the feasibility of broadening their field of action to other warlike settings and disasters. The following is an examination of how these debates developed, providing evidence that (a the International Committee of the Red Cross (ICRC defended its position not to incorporate civil aims into the humanitarian purposes of the Red Cross international movement until after the First World War; and (b different national societies and committees of the Red Cross, disagreeing with this position, defended, within the framework of emergent paradigms in hygiene and public health, the care of the sick poor, and were involved as early as the 1870s and 1880s in first-aid to the sick and wounded in everyday life as well as in relief of disasters both natural and caused by famine.Cuando, apenas cinco años después de su puesta en marcha, el movimiento de sociedades de socorro a los soldados heridos en campaña en caso de guerras internacionales se propuso examinar en qué deberían consistir sus actividades en tiempo de paz, se abrieron los debates sobre la posibilidad de ampliar su campo de actuación a otros escenarios y calamidades. Se analiza cómo fueron esos debates, ofreciendo muestras de cómo (a el Comité Internacional de la Cruz Roja (CICR defendió no añadir objetivos civiles entre los propósitos humanitarios del movimiento internacional hasta después de la Primera Guerra Mundial; y (b diferentes sociedades nacionales y comités de la Cruz Roja, discrepando de esa posición, defendieron, en el marco de los paradigmas emergentes en la higiene y la salud pública, la asistencia a pobres enfermos y se implicaron, tan pronto como en las décadas de 1870 y 1880, tanto en la intervención rutinaria en socorro de
Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations
Fulkerson, W.; Cushman, R.M.; Marland, G.; Rayner, S.
International impacts of global climate change are those for which the important consequences arise because of national sovereignty. Such impacts could be of two types: (1) migrations across national borders of people, of resources (such as agricultural productivity, or surface water, or natural ecosystems), of effluents, or of patterns of commerce; and (2) changes to the way nations use and manage their resources, particularly fossil fuels and forests, as a consequence of international concern over the global climate. Actions by a few resource-dominant nations may affect the fate of all. These two types of international impacts raise complex equity issues because one nation may perceive itself as gaining at the expense of its neighbors, or it may perceive itself as a victim of the actions of others. 11 refs., 2 figs., 1 tab.
Fulkerson, W.; Cushman, R. M.; Marland, G.; Rayner, S.
International impacts of global climate change are those for which the important consequences arise because of national sovereignty. Such impacts could be of two types: (1) migrations across national borders of people, of resources (such as agricultural productivity, or surface water, or natural ecosystems), of effluents, or of patterns of commerce; and (2) changes to the way nations use and manage their resources, particularly fossil fuels and forests, as a consequence of international concern over the global climate. Actions by a few resource-dominant nations may affect the fate of all. These two types of international impacts raise complex equity issues because one nation may perceive itself as gaining at the expense of its neighbors, or it may perceive itself as a victim of the actions of others.
Full Text Available This article presents a study of internationalisation and the financing options of Ghanaian small and medium scale nontraditional exporters. The article also examines how the age and size of an organisation affect the choice of financing. The results show a positive association between debt financing and the age of an organisation. Over time, organisations become more acceptable investments to lenders, and consequently older organisations are more likely to obtain debt financing than their younger counterparts. With respect to size, the results again indicate that larger organisations are more likely to receive debt financing. The results also show a positive relationship between degree of internationalisation and debt financing. The results suggest that as organisations engage more in international activities, they employ more debt but use less of equity financing. This is explained by the fact that organisations involved in international business tend to be more diversified and, as such, are capable of accommodating more debt capital
Altaf Chowdhury, Syed Asif; Smith, Jacqueline; Trowsdale, Steve; Leather, Susan
Transport workers generally face a higher-than-average risk of HIV as well as other health challenges. In order to improve understanding of health issues in the maritime sector, including but not limited to HIV/AIDS, and to prepare appropriate responses the International Transport Workers' Federation (ITF) conducted a study of the views and needs of those affiliates. The ITF carried out two surveys. The first consisted of a questionnaire sent to all ITF seafarer affiliates to establish their concerns about health issues, including the impact of HIV/AIDS, and to assess the extent and nature of existing trade union programmes. The second consisted of a knowledge, attitude and behaviour survey on health, wellbeing and AIDS among a cross-section of individual members administered through anonymous and confidential questionnaires by maritime affiliates in four countries in different regions and an identical online questionnaire through Survey Monkey. For the first survey, replies were received from 35 unions in 30 countries, including major seafarer supplying countries - India, Indonesia, Myanmar, Philippines, Turkey, Ukraine - and major beneficial ownership countries such as Germany, Italy, Norway, and South Korea. Health issues of concern included HIV and other sexually transmitted infections for over three-quarters of them, and then alcohol use, weight control, and mental health. All said they would welcome ITF support in starting or strengthening a programme on general health and/or HIV. Replies were received to the second survey from 615 individual seafarers. Half to three-quarters said they worried about their weight, lack of exercise and drinking; over half felt depressed sometimes or often. There were serious knowledge gaps in a number of areas, especially HIV transmission and prevention, as well as high levels of stigma towards workmates with HIV. A number of health issues and information gaps remain unaddressed on board and pre-departure. Mental health is
Christie, C D C; Steel-Duncan, J; Palmer, P; Pierre, R; Harvey, K; Johnson, N; Samuels, L A; Dunkley-Thompson, J; Singh-Minott, I; Anderson, M; Billings, C; Evans-Gilbert, T; Rodriquez, B; McDonald, C; Moore, J; Taylor, F; Smikle, M F; Williams, E; Whorms, S; Davis, D; Mullings, A; Morgan, O; McDonald, D; Alexander, G; Onyonyor, A; Hylton-Kong, T; Weller, P; Harris, M; Woodham, A; Haughton, D; Carrington, D; Figueroa, J P
Paediatric and Perinatal HIV/AIDS remain significant health challenges in the Caribbean where the HIV seroprevalence is second only to Sub-Saharan Africa. We describe a collaborative approach to the prevention, treatment and care ofHIVin pregnant women, infants and children in Jamaica. A team of academic and government healthcare personnel collaborated to address the paediatric and perinatal HIV epidemic in Greater Kingston as a model for Jamaica (population 2.6 million, HIV seroprevalence 1.5%). A five-point plan was utilized and included leadership and training, preventing mother-to-child transmission (pMTCT), treatment and care of women, infants and children, outcomes-based research and local, regional and international outreach. A core group of paediatric/perinatal HIV professionals were trained, including paediatricians, obstetricians, public health practitioners, nurses, microbiologists, data managers, information technology personnel and students to serve Greater Kingston (birth cohort 20,000). During September 2002 to August 2007, over 69 793 pregnant women presented for antenatal care. During these five years, significant improvements occurred in uptake of voluntary counselling (40% to 91%) and HIV-testing (53% to 102%). Eight hundred and eighty-three women tested HIV-positive with seroprevalence rates of 1-2% each year The use of modified short course zidovudine or nevirapine in the first three years significantly reduced mother-to-child transmission (MTCT) of HIV from 29% to 6% (RR 0.27; 95%0 CI--0.10, 0.68). During 2005 to 2007 using maternal highly active antiretroviral therapy (HAART) with zidovudine and lamivudine with either nevirapine, nelfinavir or lopinavir/ritonavir and infant zidovudine and nevirapine, MTCT was further reduced to an estimated 1.6% in Greater Kingston and 4.75% islandwide. In five years, we evaluated 1570 children in four-weekly paediatric infectious diseases clinics in Kingston, St Andrew and St Catherine and in six rural
Bucher, T; Weltert, M; Rollo, M E; Smith, S P; Jia, W; Collins, C E; Sun, M
Portion size education tools, aids and interventions can be effective in helping prevent weight gain. However consumers have difficulties in estimating food portion sizes and are confused by inconsistencies in measurement units and terminologies currently used. Visual cues are an important mediator of portion size estimation, but standardized measurement units are required. In the current study, we present a new food volume estimation tool and test the ability of young adults to accurately quantify food volumes. The International Food Unit™ (IFU™) is a 4x4x4 cm cube (64cm 3 ), subdivided into eight 2 cm sub-cubes for estimating smaller food volumes. Compared with currently used measures such as cups and spoons, the IFU™ standardizes estimation of food volumes with metric measures. The IFU™ design is based on binary dimensional increments and the cubic shape facilitates portion size education and training, memory and recall, and computer processing which is binary in nature. The performance of the IFU™ was tested in a randomized between-subject experiment (n = 128 adults, 66 men) that estimated volumes of 17 foods using four methods; the IFU™ cube, a deformable modelling clay cube, a household measuring cup or no aid (weight estimation). Estimation errors were compared between groups using Kruskall-Wallis tests and post-hoc comparisons. Estimation errors differed significantly between groups (H(3) = 28.48, p estimations were most accurate in the group using the IFU™ cube (Mdn = 18.9%, IQR = 50.2) and least accurate using the measuring cup (Mdn = 87.7%, IQR = 56.1). The modelling clay cube led to a median error of 44.8% (IQR = 41.9). Compared with the measuring cup, the estimation errors using the IFU™ were significantly smaller for 12 food portions and similar for 5 food portions. Weight estimation was associated with a median error of 23.5% (IQR = 79.8). The IFU™ improves volume estimation accuracy compared to other methods. The
Full Text Available The publication is aimed at drawing attention to the problems and risks associated with the introduction of new legislation on the functioning of the internal audit in public fi nance sector units in Poland. Through an analysis of the regulations and developments in the fi eld of the above, the author points to the need for clarifi cation or amendment of the existing legal acts. It shows the essence of the problems and threats that impact the quality, accuracy and compliance with the IIA standards for the functioning of the internal audit in Poland. The publication uses a methodology based on an analysis of regulations and studies to assess the functioning of the internal audit in terms of the public fi nance sector. The problems and risks presented in this publication are currently occurring in the public sector. The solutions remain in the interest of internal auditors employed in the public fi nance sector, external contractors providing services within the scope of the audit and managers of the units in which the audit is functioning or will continue to function.
Full Text Available To describe the development, validation and inter-rater reliability of an instrument to measure the quality of patient decision support technologies (decision aids.Scale development study, involving construct, item and scale development, validation and reliability testing.There has been increasing use of decision support technologies--adjuncts to the discussions clinicians have with patients about difficult decisions. A global interest in developing these interventions exists among both for-profit and not-for-profit organisations. It is therefore essential to have internationally accepted standards to assess the quality of their development, process, content, potential bias and method of field testing and evaluation.Scale development study, involving construct, item and scale development, validation and reliability testing.Twenty-five researcher-members of the International Patient Decision Aid Standards Collaboration worked together to develop the instrument (IPDASi. In the fourth Stage (reliability study, eight raters assessed thirty randomly selected decision support technologies.IPDASi measures quality in 10 dimensions, using 47 items, and provides an overall quality score (scaled from 0 to 100 for each intervention. Overall IPDASi scores ranged from 33 to 82 across the decision support technologies sampled (n = 30, enabling discrimination. The inter-rater intraclass correlation for the overall quality score was 0.80. Correlations of dimension scores with the overall score were all positive (0.31 to 0.68. Cronbach's alpha values for the 8 raters ranged from 0.72 to 0.93. Cronbach's alphas based on the dimension means ranged from 0.50 to 0.81, indicating that the dimensions, although well correlated, measure different aspects of decision support technology quality. A short version (19 items was also developed that had very similar mean scores to IPDASi and high correlation between short score and overall score 0.87 (CI 0.79 to 0.92.This work
Nguyen, Quyen Le Thi; Nguyen, Long Hoang; Tran, Bach Xuan; Phan, Huong Thi Thu; Le, Huong Thi; Nguyen, Hinh Duc; Tran, Tho Dinh; Do, Cuong Duy; Nguyen, Cuong Manh; Thuc, Vu Thi Minh; Latkin, Carl; Zhang, Melvyn W B; Ho, Roger C M
Viral load testing is considered the gold standard for monitoring HIV treatment; however, given its high cost, some patients cannot afford viral load testing if this testing is not subsidized. Since foreign aid for HIV/AIDS in Vietnam is rapidly decreasing, we sought to assess willingness to pay (WTP) for viral load and CD4 cell count tests among HIV-positive patients, and identified factors that might inform future co-payment schemes. A multi-site cross-sectional survey was conducted with 1133 HIV-positive patients on antiretroviral therapy (ART) in Hanoi and Nam Dinh. Patients' health insurance coverage, quality of life, and history of illicit drug use were assessed. A contingent valuation approach was employed to measure patients' WTP for CD4 cell count and viral load testing. HIV-positive patients receiving ART at provincial sites reported more difficulty obtaining health insurance (HI) and had the overall the poorest quality of life. Most patients (90.9%) were willing to pay for CD4 cell count testing; here, the mean WTP was valued at US$8.2 (95%CI = 7.6-8.8 US$) per test. Most patients (87.3%) were also willing to pay for viral load testing; here, mean WTP was valued at US$18.6 (95%CI = 16.3-20.9 US$) per test. High income, high education level, and hospitalization were positively associated with WTP, while co-morbidity with psychiatric symptoms and trouble paying for health insurance were both negatively related to WTP. These findings raise concerns that HIV-positive patients in Vietnam might have low WTP for CD4 cell count and viral load testing. This means that without foreign financial subsidies, many of these patients would likely go without these important tests. Treating psychiatric co-morbidities, promoting healthcare services utilization, and removing barriers to accessing health insurance may increase WTP for monitoring of HIV/AIDS treatment among HIV+-positive Vietnamese patients.
impotent health care market seems to run surprisingly counter to the national goals of freedom of choice and tolerance of diversified needs. GOOD IDEA: LIMITING INDIRECT. DISCRIMINATION. A group calling itself the Concerned. Medical Schemes Group, representing. 2.6 million medical aid members' lives has argued ...
This paper provides an accessible review of the role that economics is playing to clarify the main issues associated with the debate on global warming. The most important questions in the global warming debate concern to what extent greenhouse gas emissions should be controlled, how, and at whose expense. Economics possess considerable experience of concepts and techniques - developed in a variety of fields such as public goods, externalities, cost benefit analysis, equity, uncertainty, environmental management and game theory - that can inform the policy debate on global warming. The paper argues that the debate should focus on issues of intra- and inter-generational equity, flexibility mechanisms, and international co-operation incentives and enforcement. From this it also sketches an outline policy agenda for international financial institutions such as the European Investment Bank. (Author)
Takshe, Aseel; van der Molen, I.; Lovett, Jonathan Cranidge; van der Molen, Irna; Stel, Nora
As the final empirical contribution to this book, this Chapter 11 adds to the insights developed in Chapter 10 on how international policy and politics shape, either positively or negatively, resilience to the environmental dangers posed by armed conflict. Building on the preceding chapter, we
Lord, Nicholas; Levi, Michael
This article analyses the finances for and the finances from corporate bribery in international business transactions and how they are organised. Transnational corporate bribery involves non-criminal commercial enterprises that operate in licit markets but that use corrupt means to win or maintain business contracts inforeign jurisdictions. This article first considers what needs to be financed, how much finance is needed, and how the bribes can be generated and distributed. Second, the artic...
Full Text Available While no business leaders have yet been charged before the International Criminal Court (ICC, such future proceedings will typically be conducted with reference to the accessorial mode of liability of aiding and abetting, under Article 25(3(c of the Rome Statute of the ICC. There exist diverse and competing interpretations of Article 25(3(c. This paper aims to advocate the creation of a dominant interpretation of Article 25(3(c and, consequently, to the clarification of the potential responsibility of business leaders who aid or abet crimes under the jurisdiction of the Rome Statute, in two ways. First, it asks whether Article 25(3(c can be interpreted in harmony with the dominant practice on aiding and abetting in international criminal law generally. Second, it presents a case study on the provision of arms by the Russian corporation Rosoboronexport to the Syrian government, which is likely to have committed crimes against humanity since March 2011 and war crimes since mid-2012. The theoretical conclusions are applied to a discussion on the potential criminal responsibility of the Director General of Rosoboronexport for aiding and abetting the commission of international crimes by high-level Syrian officials.
Quyen Le Thi Nguyen
Full Text Available Viral load testing is considered the gold standard for monitoring HIV treatment; however, given its high cost, some patients cannot afford viral load testing if this testing is not subsidized. Since foreign aid for HIV/AIDS in Vietnam is rapidly decreasing, we sought to assess willingness to pay (WTP for viral load and CD4 cell count tests among HIV-positive patients, and identified factors that might inform future co-payment schemes.A multi-site cross-sectional survey was conducted with 1133 HIV-positive patients on antiretroviral therapy (ART in Hanoi and Nam Dinh. Patients' health insurance coverage, quality of life, and history of illicit drug use were assessed. A contingent valuation approach was employed to measure patients' WTP for CD4 cell count and viral load testing.HIV-positive patients receiving ART at provincial sites reported more difficulty obtaining health insurance (HI and had the overall the poorest quality of life. Most patients (90.9% were willing to pay for CD4 cell count testing; here, the mean WTP was valued at US$8.2 (95%CI = 7.6-8.8 US$ per test. Most patients (87.3% were also willing to pay for viral load testing; here, mean WTP was valued at US$18.6 (95%CI = 16.3-20.9 US$ per test. High income, high education level, and hospitalization were positively associated with WTP, while co-morbidity with psychiatric symptoms and trouble paying for health insurance were both negatively related to WTP.These findings raise concerns that HIV-positive patients in Vietnam might have low WTP for CD4 cell count and viral load testing. This means that without foreign financial subsidies, many of these patients would likely go without these important tests. Treating psychiatric co-morbidities, promoting healthcare services utilization, and removing barriers to accessing health insurance may increase WTP for monitoring of HIV/AIDS treatment among HIV+-positive Vietnamese patients.
Gunsoy, S; Ulusoy, M
The purpose of this study was to evaluate the internal and marginal fit of chrome cobalt (Co-Cr) crowns were fabricated with laser sintering, computer-aided design (CAD) and computer-aided manufacturing, and conventional methods. Polyamide master and working models were designed and fabricated. The models were initially designed with a software application for three-dimensional (3D) CAD (Maya, Autodesk Inc.). All models were fabricated models were produced by a 3D printer (EOSINT P380 SLS, EOS). 128 1-unit Co-Cr fixed dental prostheses were fabricated with four different techniques: Conventional lost wax method, milled wax with lost-wax method (MWLW), direct laser metal sintering (DLMS), and milled Co-Cr (MCo-Cr). The cement film thickness of the marginal and internal gaps was measured by an observer using a stereomicroscope after taking digital photos in ×24. Best fit rates according to mean and standard deviations of all measurements was in DLMS both in premolar (65.84) and molar (58.38) models in μm. A significant difference was found DLMS and the rest of fabrication techniques (P 0.05). DMLS was best fitting fabrication techniques for single crown based on the results.The best fit was found in marginal; the larger gap was found in occlusal.All groups were within the clinically acceptable misfit range.
UNEP’s Adaptation Gap Report series focuses on Finance, Technology and Knowledge gaps in climate change adaptation. It compliments the Emissions Gap Report series, and explores the implications of failing to close the emissions gap. The report builds on a 2014 assessment by the United Nations...... Environment Programme (UNEP), which laid out the concept of ‘adaptation gaps’ and outlined three such gaps: technology, finance and knowledge. The 2016 Adaptation Gap Report assesses the difference between the financial costs of adapting to climate change in developing countries and the amount of money...... and highlights challenges associated with measuring progress towards fulfilling the adaptation finance gap, while informing national and international efforts to advance adaptation. It analyses the ‘adaptation finance gap’ against the background of the provisions laid out in the Paris Agreement, and benefits...
Donner, Simon D.; Kandlikar, Milind; Webber, Sophie
The developed world has pledged to mobilize at least US 100 billion per year of ‘new’ and ‘additional’ funds by 2020 to help the developing world respond to climate change. Tracking this finance is particularly problematic for climate change adaptation, as there is no clear definition of what separates adaptation aid from standard development aid. Here we use a historical database of overseas development assistance projects to test the effect of different accounting assumptions on the delivery of adaptation finance to the developing countries of Oceania, using machine algorithms developed from a manual pilot study. The results show that explicit adaptation finance grew to 3%-4% of all development aid to Oceania by the 2008-2012 period, but that total adaptation finance could be as high as 37% of all aid, depending on potentially politically motivated assumptions about what counts as adaptation. There was also an uneven distribution of adaptation aid between countries facing similar challenges like Kiribati, the Marshall Islands, and the Federated States of Micronesia. The analysis indicates that data allowing individual projects to be weighted by their climate change relevance is needed. A robust and mandatory metadata system for all aid projects would allow multilateral aid agencies and independent third parties to perform their own analyses using different assumptions and definitions, and serve as a key check on international climate aid promises.
doxiconic process” as suggested by Dana Cloud and that the (visual) rhetoric of HIV/Aids has many similarities to what she sees as a culture clash in the rhetoric of the (American) war on terrorism. Key Words: Time, representation of HIV/Aids, race ...
We argue that regulation can improve the performance of conventional banks up to a limit, but cannot eliminate the deficiencies resulting from the use of the conventional loan contract. Islamic finance requires complicated and costly procedures compared to conventional finance. Yet, it has significant macroeconomic benefits, which cannot be internalized by individual banks. Therefore, Islamic bankers tend to mimic conventional finance in order to cut costs and maximize short-term profits....
Simbayi, Leickness C.; Strebel, Anna; Cloete, Allanise; Henda, Nomvo; Mqeketo, Ayanda
AIDS stigmas interfere with HIV prevention, diagnosis and treatment and can become internalized by people living with HIV/AIDS. However, the effects of internalized AIDS stigmas have not been investigated in Africa, home to two-thirds of the more than 40 million people living with AIDS in the world. The current study examined the prevalence of discrimination experiences and internalized stigmas among 420 HIV positive men and 643 HIV positive women recruited from AIDS services in Cape Town, So...
The right to food has become a pillar of international humanitarian and human rights law. The increasing number of food-related emergencies and the evolution of the international order brought the more precise notion of food security and made a potential right to receive food aid emerge. Despite this apparent centrality, recent statistics show that a life free from hunger is for many people all over the world still a utopian idea. The paper will explore nature and content of the right to food...
Elwyn, G.; O'Connor, A.M.; Bennett, C.; Newcombe, R.G.; Politi, M.; Durand, M.A.; Drake, E.; Joseph-Williams, N.; Khangura, S.; Saarimaki, A.; Sivell, S.; Stiel, M.; Bernstein, S.J.; Col, N.; Coulter, A.; Eden, K.; Harter, M.; Rovner, M.H.; Moumjid, N.; Stacey, D.; Thomson, R.; Whelan, T.; Weijden, G.D.E.M. van der; Edwards, A.
OBJECTIVES: To describe the development, validation and inter-rater reliability of an instrument to measure the quality of patient decision support technologies (decision aids). DESIGN: Scale development study, involving construct, item and scale development, validation and reliability testing.
Corduneanu, Carmen; Iovu, Laura Raisa
Considerable evidence shows that countries with the most developed financial sectors and capital markets enjoy the strongest economic growth over the long run. The non-financial sector, small and medium sized entities can access a wider availability of more innovative and lower cost finance to aid their growth, while larger companies profit from an overall reduction in the cost of capital and a wider range of financial products. These economical agents in search of alternatives for financing ...
Results 6261 - 6270 of 6341 ... IDRC works with developing-country researchers and institutions to build local capacity through funding, knowledge sharing, and training. ... in developing countries, in aid agencies that finance technical assistance and capacity building, and in leading international organisations devoted to.
The French minister of economy, finances and industry explains the reasons of the rise of oil prices (tensions on the supply and demand balance, late recovery of investments in producing countries, geopolitical factors) and the measures that the government wishes to implement in order to bear up this situation: project of merger between Gaz de France and Suez energy groups, change of oil companies behaviour with consumers (automotive fuels price transparency), energy saving information on all energy suppliers advertisements, reinforcement of energy independence (development of renewable energy sources and of alternate automotive fuels). (J.S.)
V. G. Afanasiev
Full Text Available The article corers current state of airline financing using such instrument as aviation leasing indifferent forms, such as finance leasing its different forms, operational leasing and its different types, sale and lease back analyzed all pluses and minuses of each form. The main questions of Capetown Convention on international warranties concerning moving equipment also discussed.
Fuel financing is only at its beginning. A logical way of developing financing model is a step by step method starting with the financing of pre-payments. The second step will be financing of natural uranium and enrichment services to the point where the finished fuel elements are delivered to the reactor operator. The third step should be the financing of fuel elements during the time the elements are inserted in the reactor. (orig.) [de
Till, Brian M; Peters, Alexander W; Afshar, Salim; Meara, John
Blockchain technology and cryptocurrencies could remake global health financing and usher in an era global health equity and universal health coverage. We outline and provide examples for at least four important ways in which this potential disruption of traditional global health funding mechanisms could occur: universal access to financing through direct transactions without third parties; novel new multilateral financing mechanisms; increased security and reduced fraud and corruption; and the opportunity for open markets for healthcare data that drive discovery and innovation. We see these issues as a paramount to the delivery of healthcare worldwide and relevant for payers and providers of healthcare at state, national and global levels; for government and non-governmental organisations; and for global aid organisations, including the WHO, International Monetary Fund and World Bank Group.
Till, Brian M; Peters, Alexander W; Afshar, Salim; Meara, John G
Blockchain technology and cryptocurrencies could remake global health financing and usher in an era global health equity and universal health coverage. We outline and provide examples for at least four important ways in which this potential disruption of traditional global health funding mechanisms could occur: universal access to financing through direct transactions without third parties; novel new multilateral financing mechanisms; increased security and reduced fraud and corruption; and the opportunity for open markets for healthcare data that drive discovery and innovation. We see these issues as a paramount to the delivery of healthcare worldwide and relevant for payers and providers of healthcare at state, national and global levels; for government and non-governmental organisations; and for global aid organisations, including the WHO, International Monetary Fund and World Bank Group. PMID:29177101
Mobio, M N A; Ilé, S; Yavo, N; Koffi-Aka, V; Kouassi-Ndjeundo, J; Tea, B
To evaluate patients wearing hearing aid at the International Center of Auditory Correction in Abidjan. It is a descriptif and transversal study from 07/01/99 to 06/30/10. We have included the files of patients completely filled. We have studied the indications, prosthetics gains and the satisfaction after hearing aid. We have achieved 536 files. The average was 36 years. The indications have been in 76.1% cases of sensorineural hearing loss. The hearing loss has been associated in 13.2% cases to language disorder. For all patient we have noticed bilateral hearing loss in 496 cases (92.5%). The behind the ear aids have been chosen in 69% cases. The type was analogical or digital respectively in 65% and 35% des cas. The prosthetic pure tonal gain was more than 30 dB in 66.8% cases and the prosthetic speech reception threshold gain more than 30 dB in 55.3% cases. The patients have been respectively satisfied less satisfacted, no satisfacted in 68.47%, 22.76% and 8.7% cases. The hearing aids have improved the audition in most of the indications. The proportion of patients satisfied was proportionally equivalent to the audiometric results.
Singer, H L
In the case of Institut Pasteur v. United States, the Institut Pasteur (Pasteur) claimed that the National Cancer Institute (NCI) had breached express and implied contracts to share research on AIDS virus samples provided to NCI by Pasteur. NCI scientists allegedly used the samples to acquire information which allowed NCI to file patent applications for an AIDS blood test kit. The United States Claims Court dismissed the complaint by holding that the Institut Pasteur had not complied with certain administrative procedures required by the Contract Disputes Act before bringing its suit. The United States Court of Appeals for the Federal Circuit reversed the decision of the Claims Court by holding that the disputed contracts did not fit within the scope of the Contract Disputes Act. Soon after the Court of Appeals decision, President Reagan and Prime Minister Chirac announced a settlement agreement whereby the lawsuit was to be dropped, American and French scientists were to share credit for having discovered the AIDS virus, and both parties to the suit were to share the patent rights for the AIDS blood test kit. This settlement suggest that international legal disputes involving urgent scientific and medical matters may require dispute resolution techniques that serve as alternatives to national courts.
Further to constitute a challenge far many EU15 countries, the EU Water Framework Directive (WFD) is going to represent the main reference for the process of approximation of water legislation of accession countries, as well as water policy and legislation of many third countries of Eastern Europe and Central Asia. In this work we focus on expected investment costs, estimated benefits, and external financing programmes for water policies and WFD implementation in an extensive geographical area, the Black Sea region, which includes the Danube Basin (that is the second largest European water basin after the Volga Basin) and covers industrial and agricultural areas of 22 countries. As we are primarily interested in the economic aspects of water policies and the WFD implementation in the above geographical area, we will develop a joint analysis of: (a) the available estimates on the size of investments in the water sector required to approximate the provisions and/or (depending on single countries) the principles of WFD; (b) the available estimates on the expected benefits from implementing EU water legislation and the WFD; (c) the flows of international assistance and financial resources available during the next few years for investing in water-sector infrastructures and management in the countries of the Black Sea region. The approximation of EU water legislation and the implementation of the WFD will entail huge investment costs by accession countries during the next decades and water is expected be the most significant area of investment within the environmental sector in the majority of these countries. The attempts to estimate economic and environmental benefits indicate that the same process of compliance with EU legislation and the WFD will produce significant benefits for the economy and the environment of these countries. During the last part of the I990s, however, the trends of actual expenses in environmental and water infrastructures in the countries of
Kelly, Kevin J; Birdsall, Karen
The study takes stock of the exponential growth in the number of new civil-society organisations (CSOs) working in the HIV/AIDS field in East and Southern Africa during the period 1996-2004. We researched this development through a survey of 439 CSOs in six countries and case studies focused on the evolution of community responses to HIV/AIDS in specific communities in eight countries. We describe the types of CSOs that emerged, their relationships with governments and donors, and their activities, organisational characteristics and funding requirements. The data presented show that the vision of social mobilisation of HIV/AIDS responses through community-level organisations has faced strong external challenges. Evidence from survey data, national HIV/AIDS spending assessments and case studies shows that in some respects the changing international aid environment undermines the prospects for development of the civil-society sector's contributions in HIV/AIDS responses. Of particular interest is to understand how the "Three Ones" and the Paris Declaration on Aid Effectiveness have reshaped international funding for HIV/AIDS responses. There has been relatively little attention paid to the impact of the new management and funding modalities--including national performance frameworks, general budget support, joint funding arrangements and basket funds--on civil-society agencies at the forefront of community HIV/AIDS responses. Evidence is presented to show that in important respects the new modalities limit the unique contribution that CSOs can make to national HIV/AIDS responses. It is also shown that the drive to rapidly intensify the scale of HIV/AIDS responses has involved using community organisations as service providers for externally formulated programmes. We discuss this as a strong threat to the development of sustainable civil-society economies as well as to CSOs' diversity and responsiveness. The ways in which CSOs are responding to these challenges are
D.R. Gasper (Des)
textabstractABSTRACT Ethical debate around development aid has gradually grown and diversified, and a field that spans some aspects of policy, organisational and personal practice has partly emerged. After characterising this trend, the paper considers: (1) The key question of the types of
D.R. Gasper (Des)
markdownabstract__Abstract__ Ethical debate around development aid has gradually grown and diversified, and a field that spans some aspects of policy, organisational and personal practice has partly emerged. After characterising this trend, the paper considers: (1) The key question of the types
Giudicotti, L.; Pasqualotto, R.
The attached PDF contains, the full preface, a list of the scientific committee, former LAPD chairmen, local organizers, previous locations of LAPD meetings, participants email contacts and a list of the contributed papers. logo The Fourteenth International Symposium on Laser-Aided Plasma Diagnostics (LAPD14), was held from 21-24 September 2009 in Castelbrando, Treviso, Italy. The series of LAPD symposia was originally started at Kyushu University in 1983, and since then it has been organized every two years alternately in Japan, Europe and the United States, traveling around the world five times. Each LAPD Symposium brings together scientists working in different disciplines all related to the diagnostics of any type of plasma by laser or similar techniques. Researchers working on nuclear fusion, industrial process, low temperature plasma chemistry, laser development and material science, are invited to present prominent new diagnostic developments, with the aim of synergetic discussions. The broad spectrum of contributions represents one of the strengths of this symposium, which is an important, unique and fruitful source of cross-fertilization between these fields and a forum of discussions. The scope of LAPD14 was very broad, including many techniques related to laser probing of plasmas: incoherent and coherent Thomson scattering, polarimetry, interferometry, reflectometry, laser induced fluorescence, laser absorption spectroscopy, laser photodetachment spectroscopy, cavity ringdown spectroscopy, Raman scattering, reflectometry, microwave diagnostics and related laser and hardware developments. LAPD14 was attended by 66 researchers, from 15 different countries who presented a total of 57 papers (13 general, 12 topical, 10 short talks and 23 poster contributions). It is a tradition of LAPD that the first lecture of each meeting, which is more general and aims to review prominent new developments, is called 'the Akazaki lecture' in honor of Professor Masanori
Richey, Lisa Ann; Ponte, Stefano
A critical account of the rise of celebrity-driven “compassionate consumption” Cofounded by the rock star Bono in 2006, Product RED exemplifies a new trend in celebrity-driven international aid and development, one explicitly linked to commerce, not philanthropy. Brand Aid offers a deeply informed...
This paper describes the business and business model of Corpfinance International (CFI). CFI consists of three businesses: structured financing, private equity/corporate finance advisory and securitization. Furthermore, CFI is the lender of record acting on behalf of and based on strong relationship with various Life Insurance Companies, Pension Funds and International Banks. CFI has in-house expertise in support of its lending advisory and investing activities
... OPERATIONS Banks for Cooperatives and Agricultural Credit Banks Financing International Trade § 614.4700... policies adopted by their boards of directors, are authorized to finance foreign trade receivables on... plans are used. (d) The financing of foreign trade receivables shall be limited by the policies of each...
Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard
Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...
The purpose of this paper is: (1) To provide an historical framework for understanding why it is difficult to finance nuclear power projects in the U.S.; (2) To mention briefly certain financing techniques utilized by companies to finance nuclear investments; and (3) To set forth the requirements investors will need before taking on the risks associated with nuclear power projects
Godfrey, Catherine C; Michelow, Pamela M; Godard, Mandana; Sahasrabuddhe, Vikrant V; Darden, Janice; Firnhaber, Cynthia S; Wetherall, Neal T; Bremer, James; Coombs, Robert W; Wilkin, Timothy
To evaluate an external quality assurance (EQA) program for the laboratory diagnosis of human papillomavirus (HPV) disease that was established to improve international research capability within the Division of AIDS at the National Institute of Allergy and Infectious Disease-supported Adult AIDS Clinical Trials Group network. A three-component EQA scheme was devised comprising assessments of diagnostic accuracy of cytotechnologists and pathologists using available EQA panels, review of quality and accuracy of clinical slides from local sites by an outside expert, and HPV DNA detection using a commercially available HPV test kit. Seven laboratories and 17 pathologists in Africa, India, and South America participated. EQA scores were suboptimal for EQA proficiency testing panels in three of seven laboratories. There was good agreement between the local laboratory and the central reader 70% of the time (90% confidence interval, 42%-98%). Performance on the College of American Pathologists' HPV DNA testing panel was successful in all laboratories tested. The prequalifying EQA round identified correctable issues that will improve the laboratory diagnosis of HPV-related cervical disease at the participating international study sites and will provide a mechanism for ongoing education and continuous quality improvement.
productive capitalists; and (3) easy access to financing for the state and the ruling coalition from foreign aid, mining and cocoa bean exports. As a result, ruling elites’ policy actions did not prioritize the development of new productive sectors (or upgrading of old ones), but were geared towards...
Economies of global scope afford businesses a competitive advantage. One way to utilize this advantage is to coordinate the leveraging of resources especially labor. Businesses have attempted to minimize labor costs and risks in an effort to maintain or increase competitive advantage. There is a risk to the global workforce: HIV/AIDS. This disease is striking at the heart of low cost labor pools. The impact on business is being felt now and will be felt for years to come. How large the impac...
Kligerman, Maxwell; Walmer, David; Bereknyei Merrell, Sylvia
We assessed healthcare provider perspectives of international aid four years after the Haiti Earthquake to better understand the impact of aid on the Haitian healthcare system and learn best practices for recovery in future disaster contexts. We conducted 22 semi-structured interviews with the directors of local, collaborative, and aid-funded healthcare facilities in Leogane, Haiti. We coded and analysed the interviews using an iterative method based on a grounded theory approach of data analysis. Healthcare providers identified positive aspects of aid, including acute emergency relief, long-term improved healthcare access, and increased ease of referrals for low-income patients. However, they also identified negative impacts of international aid, including episodes of poor quality care, internal brain drain, competition across facilities, decrease in patient flow to local facilities, and emigration of Haitian doctors to abroad. As Haiti continues to recover, it is imperative for aid institutions and local healthcare facilities to develop a more collaborative relationship to transition acute relief to sustainable capacity building. In future disaster contexts, aid institutions should specifically utilise quality of care metrics, NGO Codes of Conduct, Master Health Facility Lists, and sliding scale payment systems to improve disaster response.
Inderberg, Haakon; Rottem, Svein Vigeland
The report analyses challenges within development aid with the inclusion of climate financing in the Norwegian portfolio. The report starts by identifying central concepts and challenges that arise when funding of climate change projects are made part of a traditional development aid budget. Does the inclusion of climate considerations, mitigation and adaptation projects, within the Norwegian development aid budget alter the traditional development goals? Moreover, we ask to what degree the climate change funding can be regarded as 'new and additional', as committed in international climate negotiations. The analysis is based on interviews within the Norwegian Ministry of Foreign Affairs, the Ministry of Environment, and the Norwegian Agency for Development Aid, as well as analysis of the official Norwegian development budgets from 2010 and 2011. It concludes that while mitigation financing, in particular REDD(+) can be said to be largely additional to traditional aid goals, it is difficult to assess the additionally for adaptation funding due to a lack of transparency.(auth)
Luecke, R W; Meeting, D T; Klingshirn, R G
Statement of Position (SOP) No. 98-1, "Accounting for the Costs of Computer Software Developed or Obtained for Internal Use," issued by the American Institute of Certified Public Accountants in March 1998, provides financial managers with guidelines regarding which costs involved in developing or obtaining internal-use software should be expensed and which should be capitalized. The SOP identifies three stages in the development of internal-use software: the preliminary project stage, the application development stage, and the postimplementation-operation stage. The SOP provides that all costs incurred during the preliminary project stage should be expensed as incurred. During the application development stage, costs associated with developing or obtaining the software should be capitalized, while costs associated with preparing data for use within the new system should be expensed. Costs incurred during the postimplementation-operation stage, typically associated with training and application maintenance, should be expensed.
The Department for International Development (DFID), through its Renewable Natural Resources Knowledge Strategy (RNRKS), emphasizes demand-led research and a clear identification of uptake pathways in research design and implementation. These guidelines aim to provide RNRKS programme managers and project managers with sufficient information on rural finance to judge the extent to which project design may have to take it into account. This includes in particular the possibility that the charac...
The application of the laws of municipal bond financing to solar facilities is examined. The type of facilities under consideration are outlined. The general legal principles of municipal securities financing are discussed. The effect of recent decisions applying antitrust liability to municipal corporations is also discussed. Five specific types of municipal bonds are explained. The application of Section 103 of the Internal Revenue Code of 1954, as amended, to the issuance of municipal bonds for solar facility financing is examined also. Five bond laws of five representative states are examined and whether the eight types of solar facilities under consideration could be financed under such law is discussed. The application of the general legal principle is illustrated. Three hypothetical situations are set forth and common legal issues to be confronted by city officials in proposing such financing are discussed. These issues will be raised in most financings, but the purpose is to examine the common context in which they are raised. It is concluded that if it can be shown that the purpose of the solar facilities to be financed is to benefit the public, all legal obstacles to the use of municipal financing of solar facilities can be substantially overcome.
Cacao (Theobroma cacao L.), the tree from which cocoa butter and chocolate is derived, is conserved in field genebanks. The largest of these ex situ collections in the public domain is the International Cocoa Genebank, Trinidad (ICG,T). Reduction of genetic redundancy is essential to improve the acc...
Kristina Slavikovna Melkumyan
Full Text Available The article examines the FATF specific approach to the problem of terrorism financing. The FATF essence, content of the activity and influence levers are also analyzed within the article. It is shown that the FATF has reviewed the problem of terrorism financing in the broadest perspective, having engaged simultaneously and consistently mechanisms for combating money laundering and terrorism financing. The Task Force has greatly contributed to building of the world counter-terrorism financing system through forming the legal and institutional basis as well as through interaction with all the possible participants and actors of world politics in this area. Moreover, the FATF has succeeded in geographical expansion of the FATF influence from the original 16 to187 jurisdictions by promotion of FATF-style regional bodies establishment. Particular attention is drawn to the unique features of the FATF Recommendations in comparison with the earlier issued sources of international law, which define the international counter-terrorism financing regime. The author believes that one of the advantages of the FATF as an institute within the counter-terrorism financing system among others is the informal status of the FATF, which provides its flexibility and high ability to respond quickly and in a timely manner to evolving nature of money laundering and terrorism financing as well as emerging threats.
Gonzalez, Adam; Locicero, Briana; Mahaffey, Brittain; Fleming, Crystal; Harris, Jalana; Vujanovic, Anka A
Rates of both traumatic event exposure and posttraumatic stress disorder (PTSD; 22%-54%) are disproportionately elevated among people living with HIV/AIDS (PLHA). Trauma and related psychopathology significantly affect quality of life and disease management in this patient population. The current study examined associations between internalized HIV stigma, mindfulness skills, and the severity of PTSD symptoms in trauma-exposed PLHA. Participants included 137 PLHA (14.6% female; Mage = 48.94, SD = 8.89) who reported experiencing on average, five (SD = 2.67) traumatic events; 34% met diagnostic criteria for PTSD. Results indicate that after controlling for sex, age, education, and number of traumatic events, internalized HIV stigma was positively related to overall PTSD symptom severity (β = .16, p PTSD symptom clusters. Among the mindfulness facets measured, acting with awareness was uniquely negatively related to the overall severity of PTSD symptoms (β = -.25, p PTSD symptom clusters. These effects were observed after accounting for covariates and shared variance with other mindfulness facets. Theoretically, the present findings suggest that internalized HIV stigma may serve as a vulnerability factor for the severity of certain PTSD symptoms, whereas acting with awareness may function as a protective or resiliency factor for the severity of PTSD symptoms. Implications for the treatment of trauma-exposed PLHA are discussed. © The Author(s) 2015.
Bartholdy, Jan; Mateus, Cèsario; Olson, Dennis
This paper tests for "pecking order" financing of small and medium size firms. The main sources and "pecking order" of financing for SMEs are equity (internally generated cash), trade credit paid on time, credit provided by institutions such as banks and leasing companies, other sources of debt...... and delayed payment on trade credit. The "pecking order" of financing is driven by the costs of asymmetric information (cost of gathering and analysing information) and financial distress costs. Empirical tests do not confirm that SMEs follow a pecking order....
Eckardt, Henrik; Lind, Dennis; Toendevold, Erik
. Patients and methods - We operated on 72 acetabular fractures using intraoperative 3D imaging and compared the operative results, duration of surgery, and complications with those for 42 consecutive acetabular fracture operations conducted using conventional fluoroscopic imaging. Postoperative reduction......Background and purpose - During acetabular fracture surgery, the acetabular roof is difficult to visualize with 2-dimensional fluoroscopic views. We assessed whether intraoperative 3-dimensional (3D) imaging can aid the surgeon to achieve better articular reduction and improve implant fixation...... was evaluated on reconstructed coronal and sagittal images of the acetabulum. Results - The fracture severity and patient characteristics were similar in the 2 groups. In the 3D group, 46 of 72 patients (0.6) had a perfect result after open reduction and internal fixation, and in the control group, 17 of 42 (0...
Boulanger, G.; Furlan, J.
This study concerns the adjustment of internal probes for ultrasonic testing of small tubes (internal diameter from 20 to 42 mm). The present probes allow to measure the thickness in the straight parts of these tubes, and can pass the curved parts. The principle of the measurement is presented: a annular transducer emits an ultrasonic beam to a conic mirror which reflects this last one perpendicular to the tube. The annular piezo-electric element of the transducers are divided in 8 sectors which give as much measurements by section. An electronic apparatus has been fitted, the MEPUS 8S, which realizes a quick commutation between the sectors and makes the measurement of the real or the relative thickness for each channel. A test on site has been undertaken to test the capacities of the system in an industrial environment [fr
Thomas Richard Davies
Full Text Available Published by Palgrave MacmillanInternational non-governmental organisations (INGOs are among the key actors in the transformation of development as a global public policy issue in the post-Cold War era. This chapter explores how in the past two decades INGOs concerned with development have transformed their structures and practices as well as development discourse. The author shows how development INGOs have globalised, in terms of both the formation of international confederations and the collaboration of multiple INGOs in global coalitions. A key development has been the erosion of the apparent North–South divide among development INGOs, with INGOs that originated in donor countries reforming their structures to give a greater voice to their affiliates in recipient countries, and organisations that originated in developing countries forming affiliates in developed countries. The reorientation of INGO advocacy from states toward intergovernmental and corporate actors is also explored, as is the creation of new forms of partnerships with both governmental and private actors. The chapter addresses how development INGOs have attempted to respond to critiques of their accountability and legitimacy through reforms such as the International NGO Charter on Accountability, while the conclusion explores the limitations of the transformations of development INGOs, and the challenges that these new configurations pose.
Allen, Franklin; Chakrabarti, Rajesh; De, Sankar; Qian, Jun; Qian, Meijun
The authors examine the legal and business environments, financing channels, and governance mechanisms of various types of firms in India and compare them to those from other countries. Despite its English commonlaw origin, strong legal protection provided by the law, and a democratic government, corruption within India's legal system and government significantly weakens investor protection in practice. External financing of firms has been dominated by nonmarket sources of financing, while th...
Koncipko Natal'ja Vladimirovna
Full Text Available Reindustrialization of the national economy of Russia in the conditions of tightening economic sanctions poses industrial corporations, particularly with state participation, the task of effective and rational use of private sources of funding. Today it is largely depends on the chosen and implemented, in fact, depreciation strategy of the state. In this regard, the main scientific idea of the article is in the economic justification of the amounts of material benefit when implementing different approaches for the calculation of depreciation in real terms of modern tax legislation of the Russian Federation. The object of the study selected the process of formation of own sources of financing of economic activity in conditions of re-industrialization of the domestic industry. The study serve as a methodological approaches used in practice to develop the depreciation policy, including methods and techniques to calculate the material benefits of different scenarios for the replenishment of own sources of financing production. To the main scientific result of the research is proposed by the authors of the financial mechanism of the formation and replenishment of own sources of financing is presented as a multi-level relationship between subjects and objects, principles and methods, including scenarios, tools, and methods of forming the effective depreciation policy (strategy of individual corporations and their groups. The proposed definition of effective depreciation policy under which the table presents the calculation of depreciation using bonus depreciation linear and nonlinear methods, which show the maximization depreciation income and minimize tax exemptions. For example, the economic activities of industrial corporations proved the legality of obtaining the maximum tax values, on the one hand, and economic (material benefits, on the other, and in the current field of modern Russian tax legislation.
The paper discusses the following topics: The implications for a developing nation's economy of acquiring nuclear plants with the attendant high capital cost but low operating cost; political factors and safeguards provisions; turnkey versus non-turnkey contracts; spreading exchange and other risks through multi-national consortia; maximizing local content; cash flow considerations; availability of aid or other direct government to government loans; packaging of export finance from different countries; downpayments and local costs; Eurodollar markets, bank syndications and bond issues, domestic markets; available security, central bank or government guarantees; special considerations, barter deals, leasing; and finance for the fuel cycle. (author)
The following topics are discussed: the implications for a developing nation's economy of acquiring nuclear plants with the attendant high capital cost but low operating cost; political factors and safeguards provisions; turnkey versus non-turnkey contracts; spreading exchange and other risks through multi-national consortia; maximising local content; cash flow considerations; availability of aid or other direct government to government loans; packaging of export finance from different countries; downpayments and local costs; eurodollar markets, bank syndications and bond issues, and domestic markets; available security, central bank or government guarantees; special considerations, barter deals, leasing, and finance for the fuel cycle
Ng, Chye Yew; Gibson, J N Alastair
Presentation and analysis of a patient information sheet. To produce an evidence-based information sheet that will serve as an aide-memoire to the process of taking informed consent prior to spinal surgery. Consent for a surgical intervention is the end of a process of discussion between the surgeon and the patient. It is essential that the patient has been provided with sufficient information to make an informed judgment as to whether the benefits of a proposed procedure will outweigh its risks. We searched MEDLINE, the Cochrane database of systematic reviews and personal libraries for articles reporting complications of the surgical treatment of spinal diseases with particular reference to the most commonly treated conditions. A draft document was drawn up referencing the odds of specific complications. This was circulated to the National Health Service Scotland Central Legal Office for scrutiny and to an English language expert at the University of Edinburgh for translation to lay English. Finally, the document was issued to 50 patients in the outpatient clinic and scored on visual analog scales (VAS) for the ease of understanding, usefulness, and length. The product of this project was a two-page A4 sheet, with the front page outlining information applicable to spinal surgery "in general" and a back page detailing all common risks, relating to a headline procedure, that a Court of Law would expect a surgeon to discuss. The patients' VAS score (0-10) for "ease of understanding" was 8.8 ± 1.3 and for "usefulness" 8.9 ± 1.0 (means ± SD). Forty-three of 50 patients (86%) indicated that the length of the document was "just right" and seven (14%) of them that it was "too long." The ISSiS is user friendly and can be employed as a tool in the process of obtaining consent.
It is an international transaction involving long-term, nonrecourse loans for the financing of heavy, cost intensive projects. Because of this peculiar nature, the risk involvement is higher than what is obtainable in other international transactions. Even more risk-laden is project finance in developing countries. Therefore ...
Investor-owned utilities in the USA currently have almost 60 nuclear plants in commercial operation and an additional 90 plants under construction or awaiting operating licenses. To understand the specific techniques implemented to finance nuclear fuel and the advantages which they provide to individual companies, the total financing needs of the industry, the traditional pattern which utility external financing has taken, and the varied financial and regulatory bodies whose often conflicting objectives management must attempt to reconcile, must be understood. The aim of this paper is to aid such an understanding. The subject is discussed under the following headings: industry background; regulation and rating agencies; management objectives; financing structure; advantages (low financing cost; regulatory treatment; freer nature of agreement; access to commercial paper market; appropriate financing time-span; rating benefits; accounting treatment); conclusions. (U.K.)
Talk of Thierry Breton, minister of economy, finances and industry. Talk to the association of economy and finance journalists about national and international energy questions on May 22, 2006; Intervention de Thierry Breton ministre de l'Economie, des finances et de l'industrie. Intervention devant l'Ajef sur les questions energetiques nationales et internationales, le 22 mai 2006
The French minister of economy, finances and industry explains the reasons of the rise of oil prices (tensions on the supply and demand balance, late recovery of investments in producing countries, geopolitical factors) and the measures that the government wishes to implement in order to bear up this situation: project of merger between Gaz de France and Suez energy groups, change of oil companies behaviour with consumers (automotive fuels price transparency), energy saving information on all energy suppliers advertisements, reinforcement of energy independence (development of renewable energy sources and of alternate automotive fuels). (J.S.)
Cade, John A.; Heller, Henry B.
This report presents findings and recommendations from a study conducted by the Maryland General Assembly examining options for increasing state formula aid and changing the distribution of aid to the state's 18 community colleges. Following a letter of transmittal providing background information on community college financing, the report…
Since the early seventies, the Dresdner Bank AG has been intensively engaged in financing nuclear power plants, e.g., the Muelheim-Kaerlich Nuclear Power Station currently down because of legal technicaltities. The bank has also been involved in other large-scale projects in the energy sector and, in addition, has conceptually accompanied the stages of the nuclear fuel cycle, such as enrichment, fuel element fabrication, and reprocessing. However, for political reasons it has not been possible to carry out these projects and finance them in the Federal Republic. With appropriate modifications, these financial models can also be transferred to international projects; after all, the enrichment sector has always been characterized by trilateral ventures. (orig.) [de
I.P. van Staveren (Irene)
textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This
The problems of financing landfill gas projects in the UK in the last few years are discussed. The approach of the author in setting up a company to finance such projects in the power generation field and a separate company to design and supply turnkey packages is reported. (UK)
Full Text Available The study of behavioral finance combines the investigation and expertise from research and practice into smart portfolios of individual investors’ portfolios. Understanding cognitive errors and misleading emotions drive investors to their long-term goals of financial prosperity and capital preservation. 10 years ago, Behavioral Finance was still considered an incipient, adolescent science. First Nobel Prize in Economics awarded to the study of Behavioral Economics in 2002 established the field as a new, respected study of economics. 2013 Nobel Prize was awarded to three economists, one of them considered the one of the founders of the Behavioral Finance. As such, by now we are entering the coming of age of behavioral finance. It is now recognized as a science of understanding investors behaviors and their biased patterns. It applies quantitative finance and provides practical models grounded on robust understanding of investors behavior toward financial risk. Financial Personality influences investment decisions. Behavioral portfolio construction methods combine classic finance with rigorously quantified psychological metrics and improves models for financial advice to enhance investors chances in reaching their lifetime financial goals. Behavioral finance helps understanding psychological profile dissimilarities of individuals and how these differences manifest in investment decision process. This new science has become now a must topic in modern finance.
This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)
Blake, J W
This article discusses financing medical office buildings. In particular, financing and ownership options from a not-for-profit health care system perspective are reviewed, including use of tax-exempt debt, taxable debt, limited partnerships, sale, and real estate investment trusts (REITs).
Luna, G. Cajetan; And Others
This proceedings of the first international conference on Acquired Immune Deficiency Syndrome (AIDS) and homeless youth included over 125 delegates from 32 countries. There was strong consensus among delegates that street youth are often in high and multiple Human Immunodeficiency Virus (HIV) risk situations, and programmatic responses are needed.…
Bhat, Nisha; Kilmarx, Peter H; Dube, Freeman; Manenji, Albert; Dube, Medelina; Magure, Tapuwa
We conducted a case study of the Zimbabwe National AIDS Trust Fund ('AIDS Levy') as an approach to domestic government financing of the response to HIV and AIDS. Data came from three sources: a literature review, including a search for grey literature, review of government documents from the Zimbabwe National AIDS Council (NAC), and key informant interviews with representatives of the Zimbabwean government, civil society and international organizations. The literature search yielded 139 sources, and 20 key informants were interviewed. Established by legislation in 1999, the AIDS Levy entails a 3% income tax for individuals and 3% tax on profits of employers and trusts (which excluded the mining industry until 2015). It is managed by the parastatal NAC through a decentralized structure of AIDS Action Committees. Revenues increased from inception to 2006 through 2008, a period of economic instability and hyperinflation. Following dollarization in 2009, annual revenues continued to increase, reaching US$38.6 million in 2014. By policy, at least 50% of funds are used for purchase of antiretroviral medications. Other spending includes administration and capital costs, HIV prevention, and monitoring and evaluation. Several financial controls and auditing systems are in place. Key informants perceived the AIDS Levy as a 'homegrown' solution that provided country ownership and reduced dependence on donor funding, but called for further increased transparency, accountability, and reduced administrative costs, as well as recommended changes to increase revenue. The Zimbabwe AIDS Levy has generated substantial resources, recently over US$35 million per year, and signals an important commitment by Zimbabweans, which may have helped attract other donor resources. Many key informants considered the Zimbabwe AIDS Levy to be a best practice for other countries to follow.
Remme, Michelle; Siapka, Mariana; Sterck, Olivier; Ncube, Mthuli; Watts, Charlotte; Vassall, Anna
Despite optimism about the end of AIDS, the HIV response requires sustained financing into the future. Given flat-lining international aid, countries' willingness and ability to shoulder this responsibility will be central to access to HIV care. This paper examines the potential to expand public HIV financing, and the extent to which governments have been utilising these options. We develop and compare a normative and empirical approach. First, with data from the 14 most HIV-affected countries in sub-Saharan Africa, we estimate the potential increase in public HIV financing from economic growth, increased general revenue generation, greater health and HIV prioritisation, as well as from more unconventional and innovative sources, including borrowing, health-earmarked resources, efficiency gains, and complementary non-HIV investments. We then adopt a novel empirical approach to explore which options are most likely to translate into tangible public financing, based on cross-sectional econometric analyses of 92 low and middle-income country governments' most recent HIV expenditure between 2008 and 2012. If all fiscal sources were simultaneously leveraged in the next five years, public HIV spending in these 14 countries could increase from US$3.04 to US$10.84 billion per year. This could cover resource requirements in South Africa, Botswana, Namibia, Kenya, Nigeria, Ethiopia, and Swaziland, but not even half the requirements in the remaining countries. Our empirical results suggest that, in reality, even less fiscal space could be created (a reduction by over half) and only from more conventional sources. International financing may also crowd in public financing. Most HIV-affected lower-income countries in sub-Saharan Africa will not be able to generate sufficient public resources for HIV in the medium-term, even if they take very bold measures. Considerable international financing will be required for years to come. HIV funders will need to engage with broader
This Ph.D. thesis, entitled Essays in Household Finance, analyzes the determinants and implications of investment biases, personal experiences in financial markets, and financing disruptions on households, individual investors, and entrepreneurs and small business owners. The first essay...... on risk taking is the potential bias resulting from inertia and inattention, which has been shown to be endemic in household finance. If individuals are inert or inattentive, it is difficult to establish whether changes in risk taking are caused by personal experiences or whether the change in risk taking...
Eckardt, Henrik; Lind, Dennis; Toendevold, Erik
Background and purpose — During acetabular fracture surgery, the acetabular roof is difficult to visualize with 2-dimensional fluoroscopic views. We assessed whether intraoperative 3-dimensional (3D) imaging can aid the surgeon to achieve better articular reduction and improve implant fixation. Patients and methods — We operated on 72 acetabular fractures using intraoperative 3D imaging and compared the operative results, duration of surgery, and complications with those for 42 consecutive acetabular fracture operations conducted using conventional fluoroscopic imaging. Postoperative reduction was evaluated on reconstructed coronal and sagittal images of the acetabulum. Results — The fracture severity and patient characteristics were similar in the 2 groups. In the 3D group, 46 of 72 patients (0.6) had a perfect result after open reduction and internal fixation, and in the control group, 17 of 42 (0.4) had a perfect result. The mean difference in postoperative articular incongruity was 0.5 mm (95% CI: 0.4–0.7). In 29 of 72 operations, the intraoperative 3D scans led to intraoperative correction of the reduction and an improved result. The duration of surgery and infection rate were similar in the 2 groups. Interpretation — Intraoperative 3D imaging, which is not time-consuming, allowed the surgeon to correct malreductions and screw placement in 29 of 72 operations, leading to better articular reduction and more precise screw placement than in operations where conventional fluoroscopic imaging was used to control the reduction. PMID:26012545
Foreign aid looms large in the public discourse; and international development assistance remains squarely on most policy agendas concerned with growth, poverty and inequality in Africa and elsewhere in the developing world. The present review takes a retrospective look at how foreign aid has...... evolved since World War II in response to a dramatically changing global political and economic context. I review the aid process and associated trends in the volume and distribution of aid and categorize some of the key goals, principles and institutions of the aid system. The evidence on whether aid has...... for aid in the future...
State and local governments interested in developing a financing program can use this Excel tool to support energy efficiency and clean energy improvements for large numbers of buildings within their jurisdiction.
The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing
Hommes, C.; Durlauf, S.N.; Blume, L.E.
Interacting agents in finance represent a behavioural, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behaviour in response
Regnier, Yannick; Maciel, Guillaume; Zeroual, Bouchra; Leca, Christel; Guillou, Maelle; Mossalgue, Marc; Raguet, Alex; Sabot, Guillaume; Coton, Patrice; Olesen, Gunnar Boye; Friggens, Sam; Pouyet, Regis; Blanc, Nicolas; Laurent, Pierre; Ruedinger, Andreas
A set of brief articles illustrates the emergence of innovating and operational financing tools aimed at supporting energy transition in France and in Europe. As far as France is concerned, different examples are evoked: raising local savings, crowd-funding for renewable energies, citizen investment, cooperation between industries, communities and citizens, a semi-public company with citizen participation, the case of the Nancy urban community, a joint experience by a local public company and an investment fund. As far as Europe is concerned, the following topics or examples are evoked: local policies as lever for European financing, the Danish example of citizen-based financing, crowd-funding in the UK, the European emergence of cooperatives. As far as banks and institutions are concerned, the following topics are addressed: tools implemented by the Caisse des Depots for energy transition, the roles of banks and of public institutions in the financing of energy transition
Wulandari, Eliana; Meuwissen, Miranda P.M.; Karmana, Maman H.; Oude Lansink, Alfons G.J.M.
Analysing farmer knowledge of the requirements of finance providers can provide valuable insights to policy makers about ways to improve farmers’ access to finance. This study compares farmer knowledge of the requirements to obtain finance with the actual requirements set by different finance
Selaya, Pablo; Sunesen, Eva Rytter
We examine the idea that aid and FDI are complementary sources of foreign capital. We argue that the relationship between aid and FDI is theoretically ambiguous: aid raises the marginal productivity of capital when used to finance complementary inputs (like public infrastructure and human capital...
Nkrumah-Young, Kofi K.; Powell, Philip
Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…
How should lifelong learning be financed? The author attempts to answer the question by creating a framework for analyzing different education financing mechanisms in light of particular characteristics of lifelong learning. The framework compares the different financing alternatives on four dimensions: (1) who ultimately pays for the education, (2) who finances its immediate costs, (3) ho...
This rubric reports on 10 short notes about international economical facts about nuclear power: Electricite de France (EdF) and its assistance and management contracts with Eastern Europe countries (Poland, Hungary, Bulgaria); Transnuclear Inc. company (a 100% Cogema daughter company) acquired the US Vectra Technologies company; the construction of the Khumo nuclear power plant in Northern Korea plays in favour of the reconciliation between Northern and Southern Korea; the delivery of two VVER 1000 Russian reactors to China; the enforcement of the cooperation agreement between Euratom and Argentina; Japan requested for the financing of a Russian fast breeder reactor; Russia has planned to sell a floating barge-type nuclear power plant to Indonesia; the control of the Swedish reactor vessels of Sydkraft AB company committed to Tractebel (Belgium); the renewal of the nuclear cooperation agreement between Swiss and USA; the call for bids from the Turkish TEAS electric power company for the building of the Akkuyu nuclear power plant answered by three candidates: Atomic Energy of Canada Limited (AECL), Westinghouse (US) and the French-German NPI company. (J.S.)
El financiamiento internacional para la cooperación al desarrollo de la salud de América Latina y el Caribe International financing for cooperation to develop health in Latin America and the Caribbean
Rebecca De Los Ríos
úblico en salud siguió su tendencia de crecimiento histórico, sin mayores incrementos con respecto al producto interno bruto regional. Frente a este panorama y por ser ALC la región más desigual pero no la más pobre del mundo, resulta imperativo replantearse las formas de pensar, conducir y entregar la cooperación para el desarrollo de la salud con enfoques innovadores y mecanismos alternativos de financiamiento que respondan más y mejor a las realidades de la región.The purpose of this study is (a to examine the ways in which Latin America and the Caribbean (LAC have benefited from increases in international development assistance for health (DAH at the global level and whether the trend observed after the Millennium Summit has also applied to the Region; (b to determine whether there are differences in the distribution of this assistance, based on the gross per capita income of each country; (c to identify the possible effects of the 2008 international financial crisis on official bilateral assistance; and (d to compare trends in public health expenditure in relation to DAH before and after the Millennium Summit. The study has found that DAH in LAC follows a very different pattern than in other regions of the world. The period from 1997 to 2008 was one of fluctuating stagnation, with average annual disbursements of US$ 1 200 million. Multilateral financial institutions accounted for 79% of the average disbursements in the upper-middle income countries between 2002 and 2008, while official bilateral assistance held the greatest share (61% in the low- and lower-middle income countries. Bilateral assistance grew at an annual rate of 13% during this period, but in the year after the crisis, disbursements fell to US$ 20 million. Sixty-four percent of bilateral assistance came from the United States, Spain, and Canada, with 29% of it being directed to HIV/AIDS and sexually transmitted diseases. After the Millennium Summit DAH channeled to governments decreased 30% in
Romuladus E. Azuine, DrPH, RN
Full Text Available One year after the birth of the International Journal of MCH and AIDS (IJMA, we continue to share the passion to document, and shine the light on the myriads of global health issues that debilitate developing countries.Although the focus of IJMA is on the social determinants of health and disease as well as on the disparities in the burden of communicable and non-communicable diseases affecting infants, children, women, adults, and families in developing countries, we would like to encourage our fellow researchers and policy makers in both the developing and developed countries to consider submitting work that examines cross-national variations in heath and social inequalities.Such a global focus allows us to identify and understand social, structural, developmental, and health policy determinants underlying health inequalities between nations.Global assessment of health and socioeconomic patterns reaffirms the role of broader societal-level factors such as human development, gender inequality, gross national product, income inequality, and healthcare infrastructure as the fundamental determinants of health inequalities between nations.This is also confirmed by our analysis of the WHO data that shows a strong negative association between levels of human development and infant and maternal mortality rates.Focusing on socioeconomic, demographic, and geographical inequalities within a developing country, on the other hand, should give us a sense of how big the problem of health inequity is within its own borders.Such an assessment, then, could lead to development of policy solutions to tackle health inequalities that are unique to that country.
Rusinova, Vanya; Wernicke, Georg
We provide causal evidence that investments into Corporate Social Responsibility (CSR) are affected by firms’ prior financial performance. More precisely we argue and test for a causal link between changes in firms’ cost of internal financing and CSR. To establish causality, we make use...
Fryatt, Robert; Mills, Anne; Nordstrom, Anders
Concern that underfunded and weak health systems are impeding the achievement of the health Millennium Development Goals in low-income countries led to the creation of a High Level Taskforce on Innovative International Financing for Health Systems in September, 2008. This report summarises the key challenges faced by the Taskforce and its Working Groups. Working Group 1 examined the constraints to scaling up and costs. Challenges included: difficulty in generalisation because of scarce and context-specific health-systems knowledge; no consensus for optimum service-delivery approaches, leading to wide cost differences; no consensus for health benefits; difficulty in quantification of likely efficiency gains; and challenges in quantification of the financing gap owing to uncertainties about financial commitments for health. Working Group 2 reviewed the different innovative mechanisms for raising and channelling funds. Challenges included: variable definitions of innovative finance; small evidence base for many innovative finance mechanisms; insufficient experience in harmonisation of global health initiatives; and inadequate experience in use of international investments to improve maternal, newborn, and child health. The various mechanisms reviewed and finally recommended all had different characteristics, some focusing on specific problems and some on raising resources generally. Contentious issues included the potential role of the private sector, the rights-based approach to health, and the move to results-based aid. The challenges and disagreements that arose during the work of the Taskforce draw attention to the many issues facing decision makers in low-income countries. International donors and recipient governments should work together to improve the evidence base for strengthening health systems, increase long-term commitments, and improve accountability through transparent and inclusive national approaches. Copyright 2010 Elsevier Ltd. All rights reserved.
Nuclear Research Reactors sometimes need to implement projects to upgrade, revamp or convert their reactor, acquire new fuel elements, etc. However, as their activities are mainly of noncommercial nature, they sometimes lack of financial resources to implement these projects by themselves. Several solutions exist: loans, governmental budget, subsidies from international organizations (IAEA). Offsets are another source of financing. They also are free of charge for the reactor. The objective of offsets is to Identify, implement and finance projects that: directly create or sustain a local economic activity of high-added value, would not have happened without the Obligor's intervention, and are of crucial importance given the country's political background (favor employment, technology transfers, training and education, research and development, etc.). Companies worldwide are willing to finance local projects to fulfill their Offset Obligation. Local organizations or institutions are willing to invest to increase their activities but lack of financial resources. Offset regulations are an opportunity on both sides and are free for the local organization. The monetary value of an Offset obligation is calculated as a percentage of the main contract price (or as a percentage of the imported part value). That percentage depends on the Country's legislation and on the nature of the main contract (defense or civilian). This value has to be compensated by an equivalent economic value (a Project's cost is different from its value). There is two ways of assessing a value: - Political aspects: The Project is of political importance for the country (development of an export capability, technology and/or know-how transfers) and the project in line with the country's political priorities (employment, research, international presence, etc.). - Economic benefits: the project directly sustains or creates additional activities, turnover, R and D, employment, etc. It benefits directly
Full Text Available This paper researches which of the possible financing models (self-financing, loan, mutual fund, issuing securities and leasing is the most convenient for tourism financing on the grounds of opinions and views of student population. Taking into account that future social and economic development depends on student population, that in every society intellectual endeavor (science and art exists ever since man exists, that the overall progress of mankind is based on the great intellectual endeavor of former civilizations, as well as the fact that Western Serbia has remarkable natural and anthropogenic characteristics suitable for valorization for the purpose of tourism development, the research questions were formulated and the research was performed. The methods used were: analysis, correlation, deduction and induction. Field research has been of the primary importance and it was based on questionnaires, interviews and in-depth interview. [Projekat Ministarstva nauke Republike Srbije, br. 46001 i br. 47007
Oliveira Filho, Renato Santos de; Hochman, Bernardo; Nahas, Fabio Xerfan; Ferreira, Lydia Masako
The main purpose of a study is its publication on a scientific journal. Research financing agencies are important institutions so that studies can be developed and published. The most important research financing agencies that are discussed in this article are: "Coordenação de Aperfeiçoamento de Pessoal de Nível Superior" (CAPES), "Conselho Nacional de Desenvolvimento Científico e Tecnológico" (CNPq) and "Fundação de Amparo à Pesquisa do Estado de São Paulo" (FAPESP). CAPES' activities can be grouped in four different strategy lines: a) it evaluates the stricto sensu, at the post-graduation level; b) it provides access and development of scientific research; c) it provides investment on the development of high qualified human resources in Brazil and abroad, and d) it promotes international scientific cooperation. Although CAPES does not support directly scientific publications, almost all actions of this agency contribute to the development of scientific research and publication. CNPq has two main purposes: financing researches and development of human resources. It provides the researchers with financial aid to scientific publication. The grants for editing were specifically created for supporting the national scientific and technical publications edited by Brazilians institutions or societies. CNPq can also support Congresses, Symposiums and similar short-term courses. The Plataforma Lattes is also a branch of CNPq on which the Curriculum Lattes is available. This site has the curriculum vitae of the scientific community and is of great value for researchers. FAPESP also finances journal publications, articles and books that bring up original results of studies made by researchers from the state of São Paulo. It finances, partially, the travel expenses of innovative papers authors in meetings within the country or abroad. Brazilian authors are increasing the number of international publications. Universities, research institutes, financing agencies and
Anyangah, Joshua Okeyo
This paper develops a screening model to examine the relationship between alternative sources of private capital and investment in environmentally sound technologies (ESTs). In the model, a polluter (agent) must secure investment funds from the international financial markets in order to upgrade its production and abatement technology. The requisite capital can be obtained via either market loans (debt finance) or foreign direct investment (FDI). Under debt finance, the foreign financier supplies only capital and the relationship between the two parties is more 'arms-length'. By contrast, under FDI, the investor delivers both capital and managerial skills. We use the model to derive the implications of debt finance for optimal investment decisions and compare them to those obtained under FDI. Investment incentives are more pronounced under debt finance. (author)
The Human Immunodeficiency Virus/Acquired Immunodeficiency Syndrome (HIV/AIDS) is the leading cause of death in the countries of sub-Saharan Africa, where more than two-thirds of the people who are infected with HIV live...
Norr, Kathleen F.; McElmurry, Beverly J.; Slutas, Frances M.; Christiansen, Carol D.; Misner, Susan J.; Marks, Beth A.
Using primary health care and peer leadership models, U.S. nurses trained Lithuanian health professionals as community peer leaders in AIDS prevention. A national continuing education program is in place to sustain the initiative in Lithuania. (SK)
Anadioti, Evanthia; Aquilino, Steven A; Gratton, David G; Holloway, Julie A; Denry, Isabelle L; Thomas, Geb W; Qian, Fang
No studies have evaluated the internal adaptation of pressed and milled ceramic crowns made from digital impressions. The purpose of this in vitro study was to evaluate the internal fit of pressed and milled ceramic crowns made from digital and conventional impressions. Thirty polyvinyl siloxane (PVS) impressions and 30 Lava COS impressions made of a prepared dentoform tooth (master die) were fabricated. Thirty crowns were pressed in lithium disilicate (IPS e.max Press), and 30 crowns were milled from lithium disilicate blocks (IPS e.max CAD) (15/impression technique) with the E4D scanner and milling engine. The master die and the intaglio of the crowns were digitized with a 3-dimensional laser coordinate measurement machine. The digital master die and intaglio of each crown were merged. The distance between the die and the intaglio surface of the crown was measured at 3 standardized points. One-way ANOVA was used for statistical analysis (α=.05). One-way ANOVA revealed that the internal gap obtained from the Lava/press group (0.211 mm, ±SD 0.041) was significantly greater than that obtained from the other groups (Pdigital impression and pressed crown produced the least accurate internal fit. Copyright © 2015. Published by Elsevier Inc.
Examining Board: Professor Massimiliano Marcellino, Università Bocconi (Supervisor) Professor Fabrizio Coricelli, Paris School of Economics Professor Ayhan Kose, International Monetary Fund Professor Evi Pappa, European University Institute. Defence date: 16 June 2014 This thesis addresses three issues in the fields of macroeconomics and international finance. The first chapter examines how institutional investors, such as mutual funds and hedge funds, tend to transmit economic and f...
Full Text Available A recent innovation in the Indian banking structure has been the formation of a new banking institution—small finance banks (SFBs. These banks are expected to penetrate into financial inclusion by providing basic banking and credit services with a differentiated banking model to the larger population. In this context the new SFBs have multiple challenges in coming out with a new, differentiated business model. The challenges include building low cost liability portfolio, technology management, and balancing the regulatory compliances. This paper also presents the top of mind views of three senior executives of new small finance banks.
Salmon, J. P.; Meurice, J.; Wobus, N.; Stern, F.; Duaime, M.
This guidebook is intended to facilitate further investment in conventional geothermal projects in the United States. It includes a brief primer on geothermal technology and the most relevant policies related to geothermal project development. The trends in geothermal project finance are the focus of this tool, relying heavily on interviews with leaders in the field of geothermal project finance. Using the information provided, developers and investors may innovate in new ways, developing partnerships that match investors' risk tolerance with the capital requirements of geothermal projects in this dynamic and evolving marketplace.
This paper describes the status of the wind energy markets world-wide, in Europe and in the UK. It outlines the main methods of financing wind energy installations and discusses why different institutional structures have led to different markets in the UK and in Germany, with some concern about the state of the UK onshore industry. The paper looks ahead to the opening up of the potentially much larger offshore wind resource, concluding that in this area, existing UK development and financing structures are well suited. (Author)
It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the
Broeders, D.W.G.A.; Eijffinger, S.C.W.; Houben, A.
How to deliver adequate pension benefits at reasonable costs is a huge challenge confronting our ageing societies. This book delivers a comprehensive overview of the latest insights into pension finance, pension system design, pension governance and risk based supervision. It combines
The financial services industry presents an interesting alternative career path for nuclear physicists. Careers in finance typically offer intellectual challenge, a fast pace, high caliber colleagues, merit-based compensation with substantial upside, and an opportunity to deploy skills learned as a physicist. Physicists are employed at a wide range of financial institutions on both the ``buy side'' (hedge fund managers, private equity managers, mutual fund managers, etc.) and the ``sell side'' (investment banks and brokerages). Historically, physicists in finance were primarily ``quants'' tasked with applying stochastic calculus to determine the price of financial derivatives. With the maturation of the field of derivative pricing, physicists in finance today find work in a variety of roles ranging from quantification and management of risk to investment analysis to development of sophisticated software used to price, trade, and risk manage securities. Only a small subset of today's finance careers for physicists require the use of advanced math and practically none provide an opportunity to tinker with an apparatus, yet most nevertheless draw on important skills honed during the training of a nuclear physicist. Intellectually rigorous critical thinking, sophisticated problem solving, an attention to minute detail and an ability to create and test hypotheses based on incomplete information are key to both disciplines.
Tabish, S A
This article is a wide-ranging overview of the field of healthcare financing, health economics and the development of financial management. It vividly demonstrates that all healthcare systems have too many demands and too few resources, and that problems can manifest themselves in different forms depending on the precise funding structure of the health service concerned.
Kohatsu, Arturo; Miquel, Montero
This article is an introduction to Malliavin Calculus for practitioners. We treat one specific application to the calculation of greeks in Finance. We consider also the kernel density method to compute greeks and an extension of the Vega index called the local vega index.
Campaign finance might seem like the exclusive province of political reporters, but there are many good reasons why authors should be paying attention--both in races for education positions and in other key races at the local, state, and federal levels with implications for education. Basic math is a necessary skill and familiarity with a…
Lone, Fayaz Ahmad; Quadir, Abdul
Financing is an important component in any project. Without finance, it is impossible to run any project as it is considered the lifeblood of the business. But due to the presence of predetermined rate of interest, economists have provided alternative approach for financing the project. In this paper a model using Profit and Loss Sharing (PLS) system and comparison of it with the conventional financing model is developed. Thrust in this paper is towards establishing a new theoretical reasonin...
[Influence of coping material selection and porcelain firing on marginal and internal fit of computer-aided design/computer- aided manufacturing of zirconia and titanium ceramic implant-supported crowns].
Cuiling, Liu; Liyuan, Yang; Xu, Gao; Hong, Shang
This study aimed to investigate the influence of coping material and porcelain firing on the marginal and internal fit of computer-aided design/computer-aided manufacturing (CAD/CAM) of zirconia ceramic implant- and titanium ceramic implant-supported crowns. Zirconia ceramic implant (group A, n = 8) and titanium metal ceramic implant-supported crowns (group B, n = 8) were produced from copings using the CAD/CAM system. The marginal and internal gaps of the copings and crowns were measured by using a light-body silicone replica technique combined with micro-computed tomography scanning to obtain a three-dimensional image. Marginal gap (MG), horizontal marginal discrepancy (HMD), and axial wall (AW) were measured. Statistical analyses were performed using SPSS 17.0. Prior to porcelain firing, the measurements for MG, HMD, and AW of copings in group A were significantly larger than those in group B (P crowns in group A were smaller than those in group B (P 0.05). Porcelain firing significantly reduced MG (P 0.05). The marginal fits of CAD/CAM zirconia ceramic implant-supported crowns were superior to those of CAD/CAM titanium ceramic-supported crowns. The fits of both the CAD/CAM zirconia ceramic implant- and titanium ceramic implant-supported crowns were obviously influenced by porcelain firing.
Santizo, Rodolfo; Berganza, Jose
The paper describes the role of the Banco Centroamericano de Integracion Economica in financing renewable energy projects in Central America. Also decribes the different financing modes to the goverment and private sectors
The Center hosts a series of water finance forums. These forums bring together communities with drinking water, wastewater, and stormwater project financing needs in an interactive peer-to-peer networking format.
This paper provides a summary of innovative transportation finance techniques and discusses their applicability to the National Park Service (NPS). The primary finding of this analysis is that while NPS is engaging in innovative finance techniques su...
Hansen, Per H.
–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense......In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900...
Sheng, Andrew; Singh, Ajit
From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim fi...
LeBlanc, Kimberly; Baranoski, Sharon; Christensen, Dawn; Langemo, Diane; Sammon, Mary Ann; Edwards, Karen; Holloway, Samantha; Gloeckner, Mary; Williams, Ann; Sibbald, R Gary; Regan, Mary
To enhance the learner's competence with knowledge regarding utilization of a tool kit to aid in the prevention, assessment, and treatment of skin tears. This continuing education activity is intended for physicians and nurses with an interest in skin and wound care. After participating in this educational activity, the participant should be better able to:1. Demonstrate knowledge of skin tear prevention and classification as presented in the International Skin Tear Advisory Panel's tool kit.2. Apply information from the skin tear tool kit to patient care scenarios. The International Skin Tear Advisory Panel has created a tool kit for the prevention, identification, and treatment of skin tears. The tool kit is based on extensive literature reviews, international input from healthcare professionals, and on expert opinion. It has undergone a modified Delphi process.
Mazal, Jonathan; Lexa, Frank; Starikovsky, Anna; Jimenez, Pablo; Jain, Sanjay; DeStigter, Kristen K.; Nathan, Robert; Krebs, Elizabeth; Noble, Vicki; Marks, William; Hirsh, Richard N.; Short, Brad; Sydnor, Ryan; Timmreck-Jackson, Emily; Lungren, Matthew P.; Maxfield, Charles; Azene, Ezana M.; Garra, Brian S.; Choi, Brian G.; Lewin, Jonathan S.; Mollura, Daniel J.
The 2011 RAD-AID Conference on International Radiology for Developing Countries discussed data, experiences and models pertaining to radiology in the developing world, where widespread shortages of imaging services significantly reduce health care quality and increase health care disparity. This white paper from the 2011 RAD-AID Conference represents consensus advocacy of multidisciplinary strategies to improve planning, accessibility and quality of imaging services in the developing world. Conference presenters and participants discussed numerous solutions to imaging and healthcare disparities including: (1) economic development for radiology service planning, (2) public health mechanisms to address disease and prevention at the population and community levels, (3) comparative clinical models to implement various clinical and workflow strategies adapted to unique developing world community contexts, (4) education to improve training and optimize service quality, and (5) technology innovation to bring new technical capabilities to limited-resource regions. PMID:22748790
This study is published in advance of the major negotiations which will take place during 2015 on reforming concessional financing, most notably the Third International Conference on Financing for Development in Addis Ababa, Ethiopia. While this conference aims to address the broader issues of financing, calculating concessionality and what should be considered official development assistance (ODA), by including within it the various financial instruments which boost development finance in a ...
Kunovski, Ivo; Donker, Tara; Driessen, Ellen; Cuijpers, Pim; Andersson, Gerhard; Sijbrandij, Marit
Background Humanitarian aid workers are likely to be exposed or witness complex emergencies. Posttraumatic stress disorder (PTSD) is one of the most widespread and most commonly studied mental health problems after exposure to adversities and trauma. However, face-to-face treatment has limited
Colley, Joanna; Bradley, Claire; Stead, Geoff; Wakelin, Jessica
This paper outlines an m-learning solution, "Global MedAid", which aims to provide learning resources and tools for personnel in various roles in disaster or emergency situations. It outlines the development process and presents the design considerations and solutions for developing a cross-platform application combining a wide range of…
Gómez, Eduardo J
Using a temporal approach dividing the reform process into two periods, this article explains how both Brazil and the United States were slow to respond to AIDS. However, Brazil eventually outpaced the United States in its response due to international rather than democratic pressures. Since the early 1990s, Brazil's success has been attributed to "strategic internationalization": the concomitant acceptance and rejection of global pressure for institutional change and antiretroviral treatment, respectively. The formation of tripartite partnerships among donors, AIDS officials, and nongovernmental organizations has allowed Brazil to avoid foreign aid dependency, while generating ongoing incentives for influential AIDS officials to incessantly pressure Congress for additional funding. Given the heightened international media attention, concern about Brazil's reputation has contributed to a high level of political commitment. By contrast, the United States' more isolationist relationship with the international community, its focus on leading the global financing of AIDS efforts, and the absence of tripartite partnerships have prevented political leaders from adequately responding to the ongoing urban AIDS crisis. Thus, Brazil shows that strategically working with the international health community for domestic rather than international influence is vital for a sustained and effective response to AIDS.
... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Corporations organized to finance crop operations. 1.501(c)(16)-1 Section 1.501(c)(16)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE... Corporations organized to finance crop operations. A corporation organized by a farmers' cooperative marketing...
... 26 Internal Revenue 1 2010-04-01 2010-04-01 true Substantially bond-financed buildings. [Reserved] 1.42-7 Section 1.42-7 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY INCOME TAX INCOME TAXES Credits Against Tax § 1.42-7 Substantially bond-financed buildings. [Reserved] ...
Callahan, John J.; Goettel, Robert J.
This paper examines several major State finance revisions and the procedures used to analyze their impact on school district per pupil expenditures, State aid, and local tax rates in New York, Massachusetts, and California. Policy alternatives include utilization of measures of educational need, municipal overburden factors in the general formula,…
Additionality is the concept that developed countries should finance the costs of developing countries to address global environmental problems and make the transition to sustainable development on top of all other financial aid. Discusses the controversy regarding this concept as discussed at the June 1992 United Nations Conference on Environment…
Waning, Brenda; Kyle, Margaret; Diedrichsen, Ellen; Soucy, Lyne; Hochstadt, Jenny; Bärnighausen, Till; Moon, Suerie
Universal access to antiretroviral therapy (ART) in low- and middle-income countries faces numerous challenges: increasing numbers of people needing ART, new guidelines recommending more expensive antiretroviral (ARV) medicines, limited financing, and few fixed-dose combination (FDC) products. Global initiatives aim to promote efficient global ARV markets, yet little is known about market dynamics and the impact of global policy interventions. We utilize several data sources, including 12,958 donor-funded, adult first-line ARV purchase transactions, to describe the market from 2002-2008. We examine relationships between market trends and: World Health Organization (WHO) HIV/AIDS treatment guidelines; WHO Prequalification Programme (WHO Prequal) and United States (US) Food and Drug Administration (FDA) approvals; and procurement policies of the Global Fund to Fight AIDS, Tuberculosis, and Malaria (GFATM), US President's Emergency Plan for AIDS Relief (PEPFAR) and UNITAID. WHO recommended 7, 4, 24, and 6 first-line regimens in 2002, 2003, 2006 and 2009 guidelines, respectively. 2009 guidelines replaced a stavudine-based regimen ($88/person/year) with more expensive zidovudine- ($154-260/person/year) or tenofovir-based ($244-465/person/year) regimens. Purchase volumes for ARVs newly-recommended in 2006 (emtricitabine, tenofovir) increased >15-fold from 2006 to 2008. Twenty-four generic FDCs were quality-approved for older regimens but only four for newer regimens. Generic FDCs were available to GFATM recipients in 2004 but to PEPFAR recipients only after FDA approval in 2006. Price trends for single-component generic medicines mirrored generic FDC prices. Two large-scale purchasers, PEPFAR and UNITAID, together accounted for 53%, 84%, and 77% of market volume for abacavir, emtricitabine, and tenofovir, respectively, in 2008. PEPFAR and UNITAID purchases were often split across two manufacturers. Global initiatives facilitated the creation of fairly efficient markets
Full Text Available Abstract Background Universal access to antiretroviral therapy (ART in low- and middle-income countries faces numerous challenges: increasing numbers of people needing ART, new guidelines recommending more expensive antiretroviral (ARV medicines, limited financing, and few fixed-dose combination (FDC products. Global initiatives aim to promote efficient global ARV markets, yet little is known about market dynamics and the impact of global policy interventions. Methods We utilize several data sources, including 12,958 donor-funded, adult first-line ARV purchase transactions, to describe the market from 2002-2008. We examine relationships between market trends and: World Health Organization (WHO HIV/AIDS treatment guidelines; WHO Prequalification Programme (WHO Prequal and United States (US Food and Drug Administration (FDA approvals; and procurement policies of the Global Fund to Fight AIDS, Tuberculosis, and Malaria (GFATM, US President's Emergency Plan for AIDS Relief (PEPFAR and UNITAID. Results WHO recommended 7, 4, 24, and 6 first-line regimens in 2002, 2003, 2006 and 2009 guidelines, respectively. 2009 guidelines replaced a stavudine-based regimen ($88/person/year with more expensive zidovudine- ($154-260/person/year or tenofovir-based ($244-465/person/year regimens. Purchase volumes for ARVs newly-recommended in 2006 (emtricitabine, tenofovir increased >15-fold from 2006 to 2008. Twenty-four generic FDCs were quality-approved for older regimens but only four for newer regimens. Generic FDCs were available to GFATM recipients in 2004 but to PEPFAR recipients only after FDA approval in 2006. Price trends for single-component generic medicines mirrored generic FDC prices. Two large-scale purchasers, PEPFAR and UNITAID, together accounted for 53%, 84%, and 77% of market volume for abacavir, emtricitabine, and tenofovir, respectively, in 2008. PEPFAR and UNITAID purchases were often split across two manufacturers. Conclusions Global initiatives
Ford, N J
The Third International Conference on AIDS in Asia and the Pacific was held in Chiang Mai, Thailand, in conjunction with the Fifth National AIDS Seminar in Thailand. These geographical areas accounted for less than 7% of global cumulative AIDS cases, but nearly 20% (over 3.5 million) of global cumulative HIV infections as of mid-1995. The Thai national AIDS program comprises information, education, and communication and the development of sexually transmitted disease (STD) health care with counseling to reduce risk behavior. Safer sex practices among commercial sex workers and injecting drug users (IDUs) have led to a dramatic decline of HIV infection. The impact of the HIV/AIDS epidemic so far has had a small negative effect economically, but the social implications are more serious. There were 160,000 HIV-infected people in 1995 in these areas; the number is expected to rise to 700,000 by the year 2000. The major source of HIV infection in Asia is unprotected sexual intercourse and injecting drug use. HIV-1 subtype E is the most dominant strain in Asia, yet little research has been done on it. In several countries the major focus of prevention research has been on prostitutes, STD clinic attenders, long-distance truck drivers, and IDUs. In Bombay, India, HIV prevalence among prostitutes was found to be 51% vs. 0.8% among women attending a prenatal clinic. Despite an active prevention program in Chiang Mai, 33% of brothel inmates were infected with STDs. Effective programs should include the development of self-esteem and self-protective behavior. Although condom use has soared in recent years, men refusing its use continue to infect their wives and girlfriends. HIV seroprevalence among women attending prenatal clinics in Bangkok increased from 1% to 2% from 1991 to 1994. One Burmese study indicated that 1.1% of the soldiers were HIV-infected; in northern Thailand ethnic minorities have substantial HIV rates; and unsafe behavior among homosexual males in Australia
Christensen, John; Shaxson, Nick; Wigan, Duncan
The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts to high...... starkly illuminates the condition of Britain’s political economy and the character of its relations with the rest of the world.......The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts...
Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard
that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical......Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...... and mathematical techniques, including linear and nonlinear time series analysis, stochastic calculus models, stochastic differential equations, Itō’s formula, the Black–Scholes model, the generalized method-of-moments, and the Kalman filter. They explain how these tools are used to price financial derivatives...
Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard
Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...... that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical...... and mathematical techniques, including linear and nonlinear time series analysis, stochastic calculus models, stochastic differential equations, Itō’s formula, the Black–Scholes model, the generalized method-of-moments, and the Kalman filter. They explain how these tools are used to price financial derivatives...
Full Text Available Published by Palgrave MacmillanThis chapter reviews the literature on finance and economic development. It starts with a description of the roles of finance, a definition of financial efficiency, and a discussion of whether countries may have financial sectors that are ‘too large’ compared to the size of the domestic economy. Next, the author describes several indicators of financial development and reviews the literature on the relationship between financial development and economic growth. In the literature review, he discusses in detail some recent evidence indicating that the marginal contribution of financial development to gross domestic product (GDP growth becomes negative when credit to the private sector reaches 110 per cent of GDP. The chapter concludes with some policy conclusions targeted to developing countries.
Stewart C. Myers
This paper explores the necessary conditions for outside equity financing when insiders, that is managers or entrepreneurs, are self-interested and cash flows are not verifiable. Two control mechanisms are contrasted: a partnership,' in which outside investors can commit assets for a specified period, and a corporation,' in which assets are committed for an indefinite period but insiders can be ejected at any time. The paper also shows how going public to reduce outsiders' power can be effici...
Berg, Christian Edelvold; Lund, Anker Brink
Recently several European countries have abolished the traditional public service licence fee system, replacing it with direct public funding. But except for Iceland, the Nordic countries have not followed suit. The article discusses this development within a comparative framework of Public Service...... Broadcasting (PSB) financing regimes in Europe, concluding that Denmark, Finland, Iceland, Norway, and Sweden may still be considered conventional, licence fee PSB countries, but with some interesting differences in relation to competitive and market oriented alternatives of resource provision...
You have more options than ever before for financing a college education. You can: Split income with your children Prepay your child's tuition Buy a rental house for your college student Hire your child Establish and educational IRA Deduct interest on some student loans Claim the new tax credits for education. With today's educational cost, you need more possibilities for maximizing your dollars. Keep this article handy. Use it to help you take full advantage of the old, new, and varied possibilities.
Omarova, Saule; Hockett, Robert
102 Cornell Law Review 1143 (2017) The dominant view of banks and other financial institutions is that they function primarily as intermediaries, managing flows of scarce funds from those who have accumulated them to those who have need of them and can pay for their use. This understanding pervades textbooks, scholarly writings, and policy discussions – yet it is fundamentally false as a description of how a modern financial system works. Finance today is no more primarily “intermediated” tha...
It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the implausibility of interest payment in connection with Bitcoin, (ii) viewing a Bitcoin-like system as a money-like exclusively informational commodity with the implication that such a system need not support ...
Full Text Available The concept of supply chain finance is a response to global illiquidity, intensified through the global economic crisis and globalization of commercial and financial flows. The growing illiquidity undermines credit ratings of economic entities, thereby reducing the potential for achieving the projected goals (profitability and portfolio quality. In order to overcome this, banks have introduced certain products flexible to the requirements of specific transactions. The concerned products redirect the focus from a client's credit rating and risk to the credit rating and risk of a business partner (buyer, resulting in benefits for all transaction participants ('win-win-win'. Moreover, the activities are targeted at transaction analysis, i.e. the isolation and protection of the cash flow as the source of financial instrument's repayment. On the other hand, there has been an increasing number of transactions based on the risk of the commercial bank of the client's business partner, or on the risk of collateral (inventory. The focus is actually placed on the financing of adequate supply chain stages, given that counterparty relationship management has been proven to be crucial for efficient management of one's own business. The tensions existing in the relations between partners (increasingly long payment deadlines are in the basis of the supply chain finance concept. Decisions made by banks are based on the entire supply chain (wide information basis, thereby shifting the focus from the product (as was the case before the crisis to the client's needs. Thus, decisions become increasingly comprehensive, quicker, and more precise, and portfolios less risky. Through the individual portfolio of banks, the market of national economies also becomes safer and more liquid. These are rather profitable transactions, because, due to the risk transfer, financing is enabled to companies to whom classic crediting in most cases is not available.
Delays in the completion of nuclear power plants aggravate the financing of such ventures because the contractual sums to be paid for interest and amortization are not generated. Moreover, economic feasibility analyses by the banks are rendered ineffective by changes in the underlying data, such as the structure of electricity rates and the supply monopoly held by utilities. The German nuclear power plants at present in operation or under construction were financed mainly through subsidiares of the participating utilities outside the balance sheets of the parent companies. The banks have developed a number of financing concepts to adapt funding to the specific needs of practice. Future nuclear power plants make-up one third of the present capacity of the participating utilities. However, they will require three to four times the previous volume of capital investments. Yet it is certain that the expansion of nuclear power in the Federal Republic of Germany will not be hampered by financial problems. The funding models developed for nuclear power plants have already proved their qualities. However, the problems of nuclear power have not become less. Attention must also be drawn to some weak spots in the financial sector. (orig.) [de
Seydel, Rüdiger U
Computational and numerical methods are used in a number of ways across the field of finance. It is the aim of this book to explain how such methods work in financial engineering. By concentrating on the field of option pricing, a core task of financial engineering and risk analysis, this book explores a wide range of computational tools in a coherent and focused manner and will be of use to anyone working in computational finance. Starting with an introductory chapter that presents the financial and stochastic background, the book goes on to detail computational methods using both stochastic and deterministic approaches. Now in its sixth edition, Tools for Computational Finance has been significantly revised and contains: Several new parts such as a section on extended applications of tree methods, including multidimensional trees, trinomial trees, and the handling of dividends; Additional material in the field of generating normal variates with acceptance-rejection methods, and on Monte Carlo methods...
... As the leading U.S. government institute for HIV/AIDS research, NIAID is committed to conducting the research necessary ... Budget & Planning Mission and Planning Overview Councils & Committees AIDS Research Advisory Committee AIDS Research Advisory Committee Agenda AIDS ...
The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)
Myanmar (Burma), or criminally financed insurgent groups like the Revolutionary Armed Forces of Colombia (FARC), or the Taliban in Afghanistan. These... pharmaceutical plants in the Nanam area of Chongjin in Hamkyong Bukto Province where it is processed into heroin.17 International aid workers assisting North...are the State Security Department and the Ministry of People’s Security. 71. See Philippa Fogarty, “ Profile : Chang Song-taek,” BBC News, April 21
Hannam, Phillip M.; Liao, Zhenliang; Davis, Steven J.; Oppenheimer, Michael
A central task for negotiators of the post-2020 global climate agreement is to construct a finance regime that supports low-carbon development in developing economies. As power sector investments between developing countries grow, the climate finance regime should incentivize the decarbonization of these major sources of finance by integrating them as a complement to the commitments of developed nations. The emergence of the Asian Infrastructure Investment Bank, South-South Cooperation Fund and other nascent institutions reveal the fissures that exist in rules and norms surrounding international finance in the power sector. Structuring the climate agreement in Paris to credit qualified finance from the developing world could have several advantages, including: (1) encouraging low-carbon cooperation between developing countries; (2) incentivizing emerging investors to prefer low-carbon investments; and (3) enabling more cost-effective attainment of national and global climate objectives. Failure to coordinate on standards now could hinder low-carbon development in the decades to come.
Fortino, S.E. [Texaco Inc., White Plains, NY (United States)
This paper discusses financing options available for energy (power/steam) projects in East Central Europe. It is intended to be an overview and practical guide to such options in today`s environment. A survey is made of the principal multilateral and other financial institutions providing funding and/or credit support in the region. These include the European Bank for Reconstruction and Development, the World Bank, the International Finance Corporation, the export credit agencies, and the commercial banks. Specific guarantee and other support mechanisms which some of these institutions provide are covered, including the latest developments. In addition to loan financing, potential sources of equity financing are discussed. Next, a description of the credit rating process by such institutions as Standard and Poor`s, and an example of a successful rating effort in the Czech Republic, lead into a discussion of accessing foreign and domestic bond markets to finance energy projects in the region.
Mykhalovskiy, Eric; Brown, Glen; Kort, Rodney
AIDS 2008 firmly established stigma and discrimination as fundamental priorities in the push for universal access to HIV prevention, treatment, care and support. Conference sessions and discussions reinforced the tangible negative effects of stigma on national legislation and policies. A strong theme throughout the conference was the need to replace prevention interventions that focus exclusively on individual behaviour change or biomedical prevention interventions with "combination preventio...
Messinger, S F; Stevenson, P B
To successfully obtain capital financing, a group practice should develop a business plan that is tailored to the needs and objectives of the targeted investors. When evaluating possible funding sources, healthcare financial managers need to consider the group practice's growth objectives, geographic scope, intended use of the funding, and cash-flow potential and/or assets. Potential capital sources include internal funding; investments by healthcare organizations, health plans, private investors, and venture capitalists; borrowing from lenders; and public offerings.
Deidda, Luca Gabriele; Fattouh, Bassam
This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...
Drame, B. [Brookhaven National Lab. (BNL), Upton, NY (United States); Toler, L. [Brookhaven National Lab. (BNL), Upton, NY (United States); Bachner, Katherine [Brookhaven National Lab. (BNL), Upton, NY (United States)
The single greatest threat to U.S. homeland security remains the proliferation of nuclear weapons, especially among terrorists and other non-state actors who are not governed by the Non-Proliferation Treaty. One of the most important tools for combating terrorism among such rogue actors is counter-financing. Without funding, terrorists cannot acquire, maintain, or deploy nuclear weapons. According to the official report of the 9/11 Commission, counter-financing could have prevented the attacks of September 11, 2001. Unfortunately, no single country can defeat global terrorism. Successful counter-financing requires significant international cooperation. Since 2001, the United States and the European Union, despite vastly different approaches to intelligence gathering, have shared information through the Terrorist Finance Tracking Program (TFTP). That shared information allows authorities to trace suspicious transactions, identify culprits, and map out global terrorist networks. The TFTP successfully thwarted a 2011 plot to assassinate the Saudi Arabian Ambassador to the U.S. and multiple threats during the 2012 Summer Olympics in London; it also aided in the investigation of the 2013 Boston Marathon bombing. That program is necessary but not sufficient. To strengthen our ability to detect and disrupt terrorist plotting and prevent nuclear proliferation, we must expand and coordinate two additional transnational measures: (1) the Society for Worldwide Interbank Financial Telecommunications (SWIFT), a standardized global messaging network for financial institutions to quickly, accurately, and securely send and receive money transfer instructions, and (2) International Bank Account Numbers (IBAN) to identify individual accounts involved in international transactions. Both initiatives were incompletely adopted in the wake of 9/11, but most global banks use one or neither. More fully implementing and coordinating these two systems would allow for coherent information
Project financing is emerging as the linchpin for the future health, direction, and momentum of the energy storage industry. Market leaders have so far relied on selffunding or captive lending arrangements to fund projects. New lenders are proceeding hesitantly as they lack a full understanding of the technology, business, and credit risks involved in this rapidly changing market. The U.S. Department of Energy is poised to play a critical role in expanding access to capital by reducing the barriers to entry for new lenders, and providing trusted analytical benchmarks to better judge and price the risk in systematic ways.
To develop your confidence in F#, this tutorial will first introduce you to simpler tasks such as curve fitting. You will then advance to more complex tasks such as implementing algorithms for trading semi-automation in a practical scenario-based format.If you are a data analyst or a practitioner in quantitative finance, economics, or mathematics and wish to learn how to use F# as a functional programming language, this book is for you. You should have a basic conceptual understanding of financial concepts and models. Elementary knowledge of the .NET framework would also be helpful.
Institutions are the “rules of the game” in economics. They set the parameters in which economic activity takes place. Institutions come in many forms: they may be formal such as constitutions, laws and regulation or informal such as cultural norms, codes of conduct and traditions. This thesis
In collaboration with the Regional Controller and staff at Head Office, develops and implements financial practices and procedures to deliver an effective financial management process in ROSSA. This includes budgets and financial planning, general accounting, accounts payable, accounts receivable, financial analysis ...
Universidade Federal do Rio de Janeiro (UFRJ), au Brésil. Marcelo G. Pessoa de Matos est professeur adjoint et chercheur principal au RedeSist, un réseau de recherche sur les systèmes de production et d'innovation locaux établi ...
Price, Henry W.; Kistner, Rainer
The commercialization of concentrating solar power technology took a major step forward in the mid 1980s and early 1990s with the development of the SEGS plants in California. Over the years they have proven that parabolic trough power technologies are the most cost-effective approach for commercial scale solar power generation in the sunbelt countries of the world. However, the question must be asked why no additional solar power plants have been build following the bankruptcy of the developer of the SEGS projects, LUZ International Limited. Although many believe the SEGS projects were a success as a result of parabolic trough technology they employ, in truth, the SEGS projects were developed simply because they represented an attractive opportunity for investors. Simply stated, no additional projects have been developed because no one has been able to put together a similarly attractive financial package to potential investors. More than $1.2 billion in private capital was raised in debt and equity financing for the nine SEGS plants. Investors and bankers who make these investments are the real clients for solar power technologies. They are not interested in annual solar to electric efficiencies, but in risk, return on investments, and coverage ratios. This paper will take a look at solar power projects from the financier's perspective. The challenge in moving forward is to attract private investors, commercial lenders, and international development agencies and to find innovative solutions to the difficult issues that investment in the global power market poses for solar power technologies
Kistner, R.; Price, H.
The commercialization of concentrating solar power technology took a major step forward in the mid 1980s and early 1990s with the development of the SEGS plants in California. Over the years they have proven that parabolic trough power technologies are the most cost-effective approach for commercial scale solar power generation in the sunbelt countries of the world. However, the question must be asked why no additional solar power plants have been built following the bankruptcy of the developer of the SEGS projects, LUZ International Limited. Although many believe the SEGS projects were a success as a result of parabolic trough technology they employ, in truth, the SEGS projects were developed simply because they represented an attractive opportunity for investors. Simply states, no additional projects have been developed because no one has been able to put together a similarly attractive financial package to potential investors. More than $1.2 billion in private capital was raised in debt and equity financing for the nine SEGS plants. Investors and bankers who make these investments are the real clients for solar power technologies. They are not interested in annual solar to electric efficiencies, but in risk, return on investments, and coverage ratios. This paper will take a look at solar power projects form the financier's perspective. The challenge in moving forward is to attract private investors, commercial lenders, and international development agencies and to find innovative solutions to the difficult issues that investment in the global power market poses for solar power technologies
Foreign aid looms large in the public discourse; and international development assistance remains squarely on most policy agendas concerned with growth, poverty and inequality in Africa and elsewhere in the developing world. The present review takes a retrospective look at how foreign aid has...... evolved since World War II in response to a dramatically changing global political and economic context. I review the aid process and associated trends in the volume and distribution of aid and categorize some of the key goals, principles and institutions of the aid system. The evidence on whether aid has...... been effective in furthering economic growth and development is discussed in some detail. I add perspective and identify some critical unresolved issues. I finally turn to the current development debate and discuss some key concerns, I believe should be kept in mind in formulating any agenda for aid...
This book offers the opportunity to study and experience advanced empi- cal techniques in finance and in general financial economics. It is not only suitable for students with an interest in the field, it is also highly rec- mended for academic researchers as well as the researchers in the industry. The book focuses on the contemporary empirical techniques used in the analysis of financial markets and how these are implemented using actual market data. With an emphasis on Implementation, this book helps foc- ing on strategies for rigorously combing finance theory and modeling technology to extend extant considerations in the literature. The main aim of this book is to equip the readers with an array of tools and techniques that will allow them to explore financial market problems with a fresh perspective. In this sense it is not another volume in eco- metrics. Of course, the traditional econometric methods are still valid and important; the contents of this book will bring in other related modeling topics tha...
The 1990s is likely to be a decade of double growth: in energy demand and environmental protection. This leads the author of this paper to ask the pertinent questions of where the money will come from, and in what form, to finance the growth in capacity to produce this energy and the technology required to produce and burn it cleanly. With a focus on Asian energy markets, this paper first illustrates the problem by describing the rapid growth of energy demand in the region. It describes the growth in Japan as well as China and the fast-growing economies of Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, and Thailand. Energy demand growth rates of almost 5 percent in the 1980s are expected to continue to grow at that rate at least until 2005, doubling today's level of consumption and putting the energy supply system under great strain. Because of the large sums involved, this paper pints out the necessity of inventing new, innovative devices for future fund raising. This will require the participation of institutions such as insurance companies and regional banks that have little experience in the energy field. This paper suggests that these and the established players in energy finance will have recourse to two new approaches: Build-Operate-Transfer and Trustee Borrowing schemes
Triodos Bank has more than 10 years of experience with developing and financing wind projects in the Netherlands. Over 50 Megawatt has been installed with direct involvement of the bank. The experience is both as a bank and as a venture capital fund. In this contribution the perspective will be more from a venture capital point of view than as a bank. The bank's activities in the wind energy sector started in 1986 by forming a joint venture with an engineering bureau, experienced i wind energy but not yet in developing wind projects. From 1989 onwards the joint venture started to build wind farms, both as a private company and in a joint venture with utilities. The European Investment Bank became involved with a long-term debt finance facility (15 years, fixed interest loan). The main difficulties were long-term commitments from landowners (Dike authorities) and utilities with regard to power contracts. The development got really stuck when utilities refused to pay a fair price anymore. Also, site development became more and more difficult. Even the poor technical performance improved drastically and did not frighten developers and banks too much. (author)
Dalgaard, Carl-Johan Lars; Hansen, Henrik
We estimate the average rate of return on investments financed by aid and by domestic resource mobilisation, using aggregate data. Both returns are expected to vary across countries and time. Consequently we develop a correlated random coefficients model to estimate the average returns. Across...... different estimators and two different data sources for GDP and investment our findings are remarkably robust; the average gross return on ‘aid investments’ is about 20 per cent. This is in accord with micro estimates of the economic rate of return on aid projects and with aggregate estimates of the rate...
Dalgaard, Carl-Johan Lars; Hansen, Henrik
We investigate the marginal productivity of investment across countries. The aim is to estimate the return on investments financed by foreign aid and by domestic resource mobilization, using aggregate data. Both returns are expected to vary across countries and time. Consequently we develop...... a correlated random coefficients model, to estimate the average aggregate return on ‘aid investments’ and ‘domestic investments’. Across different estimators and two different sources for GDP and investment data our findings are remarkably robust; the average gross return on ‘aid investments’ is about 20 per...
Christian Keuschnigg; Evelyn Ribi
In the absence of financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. The impact of taxes changes fundamentally. Taxes reduce investment because they erode cash flow and, thereby, a firm's pledgeable income available for repayment to outside investors, and not because they reduce the user cost of capital. We propose a corporate finance m...
Dirk Schindler; Guttorm Schjelderup
This paper presents a theory model that simultaneously accounts for the financing decisions and ownership structure in affiliates of multinational firms. We find that affiliates of multinationals have higher internal and overall debt ratios and lower rental rates of physical capital than comparable domestic firms. We also show that affiliates with minority owners have less debt than wholly owned affiliates and a less tax-efficient financing structure. The latter is due to an externality where...
Korosteleva, J.; Mickiewicz, T.
We investigate the determinants of start-up financing in 54 countries, using the Global Entrepreneurship Monitor (GEM) surveys for years 2001-2006. We find that financial liberalisation increases the total financial size of the individual start-up entrepreneurial project both via the increased use of external and of own funds. In addition, the volume of start-up finance responds positively to international capital inflows as represented by loans from non-resident banks and remittances, and ne...
This project examines the structure of public infrastructure financing in Indonesia and examines whether financing based on Islamic principles is a feasible alternative to current financing mechanisms...
Maria Helena Costa-Couto
Full Text Available Este artigo analisa a assimetria nas relações internacionais entre países no que diz respeito ao reconhecimento da propriedade industrial no setor específico da indústria farmacêutica. O foco é o impacto destas relações no acesso a medicamentos anti-retrovirais (ARV, questão de interesse mundial em face da sua relação com o desenvolvimento das nações. A disputa de interesses no campo e o posicionamento de alguns países frente às leis patentárias, ao longo do tempo, apontam um cenário pouco favorável para acesso aos medicamentos anti-aids pelos países que não pertencem ao núcleo do sistema mundial. O sucesso do programa brasileiro de Doenças Sexualmente Transmissíveis (DSTs e Aids nas negociações dos preços dos ARV, ao contrário, aponta para novas possibilidades de enfrentamento desta realidade. A saída parece ser o fortalecimento interno dos Estados Nacionais e um papel ativo das Agências do Sistema das Nações Unidas na defesa dos interesses humanos coletivos.This paper analyzes the asymmetry in the international relations as refers to the recognition of industrial property rights in the pharmaceutical industry. It focuses on the impact of such relations upon the access to ARV medication, an issue of worldwide interest due to its connection with the development of the nations. Clashing interests and the position taken by some countries in their patent laws point to a scenario less favorable for the access of peripheral countries to anti-HIV/AIDS medication. On the other hand, it seems that the success of the Brazilian STD/AIDS program in negotiating ARV prices will open new possibilities. The solution may be the internal strengthening of the National States and the active role played by the Agencies of the United Nations System in defense of the collective human interests.
US Agency for International Development — The Foreign Aid Explorer shows the multi-dimensional picture of U.S. foreign assistance through a highly visual and interactive website. The website makes it easy...
Jean-Pierre Chauffour; Mariem Malouche
Trade finance matters for trade, and when financial markets and world trade collapsed three years ago, a shortage in trade finance was hailed as a possible culprit. Because of the potential for global repercussions, world leaders called on the international community to act swiftly to avoid a depression. Governments and international institutions intervened to mitigate the impacts of the c...
Umble, K; Bain, B; Ruddock-Small, M; Mahanna, E; Baker, E L
Leadership development is a strategy for improving national responses to HIV/AIDS. The University of the West Indies offers the Caribbean Health Leadership Institute (CHLI) to enhance leaders' effectiveness and responses to HIV/AIDS through a cooperative agreement with the Centers for Disease Control and Prevention. CHLI enrolls leaders in annual cohorts numbering 20-40. To examine how CHLI influenced graduates' self-understanding, skills, approaches, vision, commitments, courage, confidence, networks, and contributions to program, organizational, policy, and systems improvements. Web-based surveys and interviews of graduates. CHLI increased graduates' self-understanding and skills and strengthened many graduates' vision, confidence, and commitments to improving systems. It helped graduates improve programs, policies, and systems by: motivating them and giving them ideas for changes to pursue, encouraging them to share their vision, deepening skills in areas such as systems thinking, policy advocacy, and communication, strengthening their inclusion of partners and team members, and influencing how they interacted with others. Training both HIV-focused and general health leaders can help both kinds of leaders foster improvements in HIV services and policies. Learners greatly valued self-assessments, highly interactive sessions, and the opportunity to build a network of professional colleagues. Projects provided opportunities to address substantive issues and immediately apply learning to work. Leadership development evaluations in the United States have also emphasized the complementary benefits of assessment and feedback, skills development, and network development. Global leadership programs should find ways to combine these components in both traditional face-to-face and distance-learning contexts.
Chelberg, R.; Prerad, V. [POWER International, Josefov (Czechoslovakia)
POWER`s engineering and development experience in the Czech Republic creating financeable projects within the power generation industry will be presented. POWER has been involved in the Czech Republic`s privatization process, environmental legislation as well as formation of the regulatory environment. Strategic methods for accomplishing the development of financeable projects often include ownership and financial restructuring of the projects. This is done by utilizing internal cash flows, external debt and equity placement (provided by international financial institutions) by restructuring the facility`s contractual relationships and operations (providing as least cost solution to engineering) and possibly using existing governmental guarantees. In order to make any recommendations on how to come into compliance with the country`s environmental legislation, it is necessary to begin with an analysis of the existing facility. This involves preparation of technical and economic feasibility study, evaluation of technology and preliminary engineering solutions. It further involves restructuring of power sales agreements, heat sales agreements, and fuel supply agreements. The goal is to provide suitable security for the equity and debt financing participants by mitigating risk and creating a single purpose business unit with predictable life and economics.
Third Party Financing means the packaging together of both technical aid and the necessary funding for energy cost saving investments by an outside company (outside to the energy user that is), using the energy cost savings themselves to pay for that investment. There are two key factors which differentiate Third Party Financing and conventional approaches to the implementation of energy conservation projects, the first of which is the provision of all the necessary technical services - both initial and detailed energy audits, engineering design and implementation - from one source. The second difference involves viewing the energy cost savings as a ''stream oincome'' which will repay the cost of the investment. This approach has a number of attractions to energy users: the outside company brings both its technical expertise and the necessary up-front capital to fund the energy saving investment. In addition, because the payments to the outside company are contingent, either wholly or in part, upon the level and timing of the energy cost savings the technical and financial risk for the investment is transferred from the energy user to the outside company. However, although simple in concept, third party financing is complex in practice. How does an energy user judge one third party financing proposal against another? If an agreement is made, how are energy savings measured or what happens if there is a dispute between the two parties? These are examples of the practical questions addressed in this paper which must be resolved if third party financing is to be used to assist energy saving. (Author)
Poon, Martha; Olen, Helaine
When economists ask questions about basic financial principles, most ordinary people answer incorrectly. Economic experts call this condition "financial illiteracy," which suggests that poor financial outcomes are due to a personal deficit of reading-related skills. The analogy to reading is compelling because it suggests that we can teach our way out of population-wide financial failure. In this comment, we explain why the idea of literacy appeals to policy makers in the advanced industrial nations. But we also show that the narrow skill set laid out by economists does not satisfy the politically inclusive definition of literacy that literacy studies fought for. We identify several channels through which people engage with ideas about finance and demonstrate that not all forms of literacy will lead people to the educational content prescribed by academic economists. We argue that truly financial literate people can defy the demands of financial theory and financial institutions. © The Author(s) 2015.
Ioan E. Nistor
Full Text Available One of the most pressing problems faced by micro, small and medium sized enterprises (henceforth SMEs in Europe is the access to sufficient funds to sustain their long term growth. Romanian SMEs make no exception. In this context the present paper focuses on analyzing the extent to which external funding sources have contributed to the value added created by the Romanian SMEs between 2007 and 2011.The investigation’s results indicate the existence of a causal link between some forms of external financing (namely bank loans, leasing, factoring, guarantee products and European funds and the value added created by the Romanian micro, small and medium sized enterprises in the aforementioned period.
Chen, Cathy; Overbeck, Ludger
This volume provides practical solutions and introduces recent theoretical developments in risk management, pricing of credit derivatives, quantification of volatility and copula modeling. This third edition is devoted to modern risk analysis based on quantitative methods and textual analytics to meet the current challenges in banking and finance. It includes 14 new contributions and presents a comprehensive, state-of-the-art treatment of cutting-edge methods and topics, such as collateralized debt obligations, the high-frequency analysis of market liquidity, and realized volatility. The book is divided into three parts: Part 1 revisits important market risk issues, while Part 2 introduces novel concepts in credit risk and its management along with updated quantitative methods. The third part discusses the dynamics of risk management and includes risk analysis of energy markets and for cryptocurrencies. Digital assets, such as blockchain-based currencies, have become popular b ut are theoretically challenging...
This presentation reviewed some of the partnership opportunities available from GE Energy. GE Energy's ecomagination commitment has promised to double research investment, make customers true partners and reduce greenhouse gases (GHGs). GE Energy's renewable energy team provides a broad range of financial products, and has recently funded 30 wind farms and 2 large solar projects. The company has a diverse portfolio of technology providers and wind regimes, and is increasing their investment in technology. GE Energy recognizes that the wind industry is growing rapidly and has received increased regulatory support that is backed by strong policy and public support. It is expected that Canada will have 3006 wind projects either planned or under construction by 2007. According to GE Energy, successful wind financing is dependent on the location of the site and its wind resources, as well as on the wind developer's power sales agreement. The success of a wind project is also determined by clear financing goals. Site-specific data is needed to determine the quality of wind resource, and off-site data can also be used to provide validation. Proximity to load centres will help to minimize capital costs. Power sales agreements should be based on the project's realistic net capacity factor as well as on the cost of the turbines. The economics of many wind farms is driven by the size of the turbines used. Public consultations are also needed to ensure the success of wind power projects. It was concluded that a good partner will have staying power in the wind power industry, and will understand the time-lines and needs that are peculiar to wind energy developers. refs., tabs., figs
Full Text Available The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data.
USDA Y2K information assessment of international food transportation modes in : selected foreign countries. The assessment targeted 9 of the top 10 markets for : U.S. Agricultural exports and 7 of the top 8 suppliers of imported food products : to th...
Strategic finance is aligning financial decisions--regarding revenues, creating and maintaining institutional assets, and using those assets--with the institution's mission and strategic plan. The concept known as "strategic finance" increasingly is being seen as a useful perspective for helping boards and presidents develop a sustainable…
drs. Ewoud Jansen
The book is about finance and accounting, subjects widely discussed in many other books. What sets this book apart from most others is that it discusses all the basic aspects of finance and accounting in one single textbook. Three areas of interest are discussed: Financial Management; Management
Klompjan, R.; Wouters, Marc
Understanding default risk in project finance is relevant to investors. This article investigates which factors are most strongly associated with the occurrence of project finance default, using data from 210 projects, of which 37 were in default. The authors found that the use of proven technology,
Berlinger, Edina; Badics, Milán; Banai, Ádám; Daróczi, Gergely; Dömötör, Barbara; Gabler, Gergely; Havran, Dániel; Juhász, Péter; Margitai, István; Márkus, Balázs; Medvegyev, Péter; Molnár, Julia; Szucs, Balázs Árpád; Tuza, Ágnes; Vadász, Tamás; Váradi, Kata; Vidovics-Dancs, Ágnes
This book is intended for those who want to learn how to use R's capabilities to build models in quantitative finance at a more advanced level. If you wish to perfectly take up the rhythm of the chapters, you need to be at an intermediate level in quantitative finance and you also need to have a reasonable knowledge of R.
Croci, Ettore; Doukas, John A.; Gonenc, Halit
This study uses a comprehensive European dataset to investigate the role of family control in corporate financing decisions during the period 1998-2008. We find that family firms have a preference for debt financing, a non-control-diluting security, and are more reluctant than non-family firms to
Moore, Spencer; Eng, Eugenia; Daniel, Mark
In February 2000, Mozambique suffered its worst flooding in almost 50 years: 699 people died and hundreds of thousands were displaced. Over 49 countries and 30 international non-governmental organisations provided humanitarian assistance. Coordination of disaster assistance is critical for effective humanitarian aid operations, but limited attention has been directed toward evaluating the system-wide structure of inter-organisational coordination during humanitarian operations. Network analysis methods were used to examine the structure of inter-organisational relations among 65 non-governmental organisations (NGOs) involved in the flood operations in Mozambique. Centrality scores were used to estimate NGO-specific potential for aid coordination and tested against NGO beneficiary numbers. The average number of relief- and recovery-period beneficiaries was significantly greater for NGOs with high relative to low centrality scores (p < 0.05). This report addresses the significance of these findings in the context of the Mozambican 2000 floods and the type of data required to evaluate system-wide coordination.
Chiavassa, S.; Bardies, M.; Martin, S.; Aubineau-Laniece, I. [Institut de Radioprotection et de Surete Nucleaire (IRSN/DPHD/SDOS/LEMDI), 92 - Fontenay-aux-Roses (France)
The aim of this communication is to present a evaluation tool of the personalised internal dose that associated a Monte Carlo code to a voxelised representation of the patient for a personalised dosimetry evaluation in vectorized radiotherapy. the developments realised to reach a whole body dosimetry at tissue scale in a reasonable calculation time ( about a day) and some functionalities of the software are exposed. (N.C.)
Brhlikova, Petra; Harper, Ian; Subedi, Madhusudan; Bhattarai, Samita; Rawal, Nabin; Pollock, Allyson M
Local pharmaceutical production has been endorsed by the WHO as a means of addressing health priorities of developing countries. However, local producers of essential medicines must comply with international pharmaceutical standards in order to be eligible to compete in donor tenders. These standards determine production rights for on-patent and off-patent medicines, and guide international procurement of medicines. We reviewed the literature on the impact of Good Manufacturing Practice (GMP) on local production; a gap analysis from the literature review indicated a need for further research. Over sixty interviews were conducted with people involved in the Nepali pharmaceutical production and distribution chain from 2006 to 2009 on the GMP areas of relevance: regulatory capacity, staffing, funding and training, resourcing of GMP, inspectors' interpretation of the rules and compliance. Although Nepal producers have increased their overall share of the domestic market, only the public manufacturer, Royal Drugs, focuses on medicines for public health programmes; private producers engage mainly in brand competition for private markets, not essential medicines. Nepali regulators and producers state that implementation of GMP standards is hindered by low regulatory capacity, insufficient training of staff in the industry, financial constraints and lack of investment for upgrading capital. The transition period to mandatory compliance with WHO GMP rules is lengthy. Less than half of private producers had WHO GMP in 2013. Producers are not directly affected by international harmonisation of standards as they do not export medicines and the Nepali regulator does not enforce the WHO standards strictly. Without an international GMP certificate they cannot tender for donor dependent health programmes. In Nepal, local private manufacturers focus mainly on brand competition for private consumption not essential medicines, the government preferentially procures essential
This textbook emphasizes the applications of statistics and probability to finance. Students are assumed to have had a prior course in statistics, but no background in finance or economics. The basics of probability and statistics are reviewed and more advanced topics in statistics, such as regression, ARMA and GARCH models, the bootstrap, and nonparametric regression using splines, are introduced as needed. The book covers the classical methods of finance such as portfolio theory, CAPM, and the Black-Scholes formula, and it introduces the somewhat newer area of behavioral finance. Applications and use of MATLAB and SAS software are stressed. The book will serve as a text in courses aimed at advanced undergraduates and masters students in statistics, engineering, and applied mathematics as well as quantitatively oriented MBA students. Those in the finance industry wishing to know more statistics could also use it for self-study. David Ruppert is the Andrew Schultz, Jr. Professor of Engineering, School of Oper...
Mykhalovskiy, Eric; Brown, Glen; Kort, Rodney
AIDS 2008 firmly established stigma and discrimination as fundamental priorities in the push for universal access to HIV prevention, treatment, care and support. Conference sessions and discussions reinforced the tangible negative effects of stigma on national legislation and policies. A strong theme throughout the conference was the need to replace prevention interventions that focus exclusively on individual behaviour change or biomedical prevention interventions with "combination prevention" approaches that address both individual and structural factors that increase vulnerability to HIV infection.Several high-level sessions addressed various aspects of the debate over "vertical" (disease-specific) versus "horizontal" (health systems) funding. The majority of evidence presented at the conference suggests that HIV investments strengthen health systems through the establishment of clinical and laboratory infrastructure, strengthened supply and procurement systems, improvements in health care worker training, and increased community engagement.Human rights were a focal point at the conference; several presentations emphasized the importance of securing human rights to achieve universal access goals, including workplace discrimination, travel restrictions, gender inequality, and the criminalization of homosexuality, drug use, sex work, and HIV transmission and/or exposure.
Sturtevant, Deborah; Wimmer, Jane S
The HIV/AIDS epidemic in Zambia threatens maternal survival and jeopardizes the ability for families to care for their children. The Christian Alliance for Children in Zambia (CACZ) operates a program called Milk and Medicine (M&M) that distributes food, formula, and medicine at churches in the compounds. This article reports on a mixed methods study to evaluate the outcomes of the M&M program. On-site interviews with families combined with an analysis of a longitudinal data set were the methods used. The results of the study showed families face continuous hardship including hunger, unemployment, disease, and loss. Families expressed appreciation for the program and its staff and suggested improvements. The longitudinal data review helped researchers to recommend an improved protocol for data management. Improved data will assist researchers in an on-going evaluation to compare the growth rates of children in the study to the Zambian normal growth charts. Lessons learned from this evaluation validated the use of mixed methods design for exploratory research on an emerging program. Lessons were also learned about the difficulty of working in natural settings with political and cultural variations. Future evaluations of the M&M program are expected to shed light on more specific program impacts. Copyright © 2013 Elsevier Ltd. All rights reserved.
Haakenstad, Annie; Templin, Tara; Lim, Stephen; Bump, Jesse B; Dieleman, Joseph
As growth in development assistance for health levels off, development assistance partners must make allocation decisions within tighter budget constraints. Furthermore, with the advent of comprehensive and comparable burden of disease and health financing estimates, empirical evidence can increasingly be used to direct funding to those most in need. In our 'financing gaps framework', we propose a new approach for harnessing information to make decisions about health aid. The framework was designed to be forward-looking, goal-oriented, versatile and customizable to a range of organizational contexts and health aims. Our framework brings together expected health spending, potential health spending and spending need, to orient financing decisions around international health targets. As an example of how the framework could be applied, we develop a case study, focused on global goals for child health. The case study harnesses data from the Global Burden of Disease 2013 Study, Financing Global Health 2015, the WHO Global Health Observatory and National Health Accounts. Funding flows are tied to progress toward the Sustainable Development Goal's target for reductions in under-five mortality. The flexibility and comprehensiveness of our framework makes it adaptable for use by a diverse set of governments, donors, policymakers and other stakeholders. The framework can be adapted to short- or long-run time frames, cross-country or subnational scales, and to a number of specific health focus areas. Depending on donor preferences, the framework can be deployed to incentivize local investments in health, ensuring the long-term sustainability of health systems in low- and middle-income countries, while also furnishing international support for progress toward global health goals. © The Author(s) 2018. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine.
Donastorg, A.; Renukappa, S.; Suresh, S.
Access to clean and stable energy, meeting sustainable development goals, the fossil fuel dependency and depletion are some of the reasons that have impacted developing countries to transform the business as usual economy to a more sustainable economy. However, access and availability of finance is a major challenge for many developing countries. Financing renewable energy projects require access to significant resources, by multiple parties, at varying points in the project life cycles. This research aims to investigate sources and new trends in financing RE projects in developing countries. For this purpose, a detail and in-depth literature review have been conducted to explore the sources and trends of current RE financial investment and projects, to understand the gaps and limitations. This paper concludes that there are various internal and external sources of finance available for RE projects in developing countries.
The Director General of the International Atomic Energy Agency established in February 1986 a Senior Expert Group (SEG) on Mechanisms to Assist Developing Countries in the Promotion and Financing of Nuclear Power Programmes, which was asked: (a) To identify and analyse the problems of and constraints on nuclear power introduction/expansion in developing countries, with particular attention being paid to the problems of financing nuclear power projects; (b) To study mechanisms for dealing with the identified problems and constraints in order to assist developing countries with the promotion and financing of their nuclear power programmes, and to determine the role of the IAEA in this context. This report summarizes the Senior Expert Group's study. It also presents a number of recommendations on mechanisms to assist developing countries in promoting and financing their nuclear power programmes. 1 fig., 3 tabs
Full Text Available Based on a heterogeneous firm set-up, we model firms’ access to the internal capital market, bank finance as well as bond finance and investigate how firms’ adjustment among multiple sources of finance affects their performance in foreign direct investment and aggregate industry productivity. We find that when facing a bank credit shock (e.g. tighter bank lending, firms with different productivities react differently. Less productive firms exit from the foreign market due to a lack of funds while the more productive resort to bond finance to sustain their multinational status. The increased demand for bond finance as compensation for decreased bank finance by the surviving multinationals exacerbates the competition in the bond market and bids up the bond return rate, which triggers a Melitz-type selection effect through the bond market and brings aggregate industry gains.However, the divestment of those failing FDI firms and the consequently reduced bond financing demand mitigate this effect.
For most of the people the prohibition on interest is the well known part of Islamic finance. Indeed, the concept of Islamic finance was not being discussed enough till financial crisis, after crisis it started to be seen as an alternative financial system for conventional finance. Sharing the risks is the main concept of Islamic finance and one of the main differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however Islamic fina...
La Ferla, L. [La Ferla Associates, Washington, DC (United States)
The Office of National Security Policy has produced this Directory of Financing Sources for Foreign Energy Projects. The Directory reviews programs that offer financing from US government agencies, multilateral organizations, public, private, and quasi-private investment funds, and local commercial and state development banks. The main US government agencies covered are the US Agency for International Development (USAID), the Export-Import Bank of the US (EXIM Bank), Overseas Private Investment Corporation (OPIC), US Department of Energy, US Department of Defense, and the US Trade and Development Agency (TDA). Other US Government Sources includes market funds that have been in part capitalized using US government agency funds. Multilateral organizations include the World Bank, International Finance Corporation (IFC), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and various organizations of the United Nations. The Directory lists available public, private, and quasi-private sources of financing in key emerging markets in the Newly Independent States and other developing countries of strategic interest to the US Department of Energy. The sources of financing listed in this directory should be considered indicative rather than inclusive of all potential sources of financing. Initial focus is on the Russian Federation, Ukraine, india, China, and Pakistan. Separate self-contained sections have been developed for each of the countries to enable the user to readily access market-specific information and to support country-specific Departmental initiatives. For each country, the directory is organized to follow the project life cycle--from prefeasibility, feasibility, project finance, cofinancing, and trade finance, through to technical assistance and training. Programs on investment and export insurance are excluded.
Full Text Available This article explores whether new arenas of engagement for water governance have been created and utilised following the implementation of the Clean Development Mechanism (CDM in large hydropower projects in Vietnam. Initial optimism for climate finance – in particular amongst Northern aid providers and private CDM consultants – resulted in a boom in registration of CDM hydropower projects in Vietnam. These plans, however, have since then busted. The article utilises a multi-scale and multi-place network governance analysis of the water governance-climate finance nexus, based on interviews with government officials, consultants, developers, NGOs, multilateral and international banks, and project-affected people at the Song Bung 2 and Song Bung 4 hydropower projects in Central Vietnam. Particular attention is paid to how the place-based nature of organisations shapes the ability of these actors to participate in decision-making. The article concludes that the CDM has had little impact on water governance in Vietnam at the project level in terms of carbon reduction (additionality or attaining sustainable development objectives. Furthermore, whilst climate finance has the potential to open new, more transparent and more accountable arenas of water governance, current arenas of the water governance-climate finance nexus are 'rendered technical', and therefore often underutilised and inaccessible to civil society and project-affected people.
The finance sector is one of the driving forces for the use of distributed or Grid computing for business purposes. The speakers will review the state-of-the-art of high performance computing in the financial sector, and provide insight into how different types of Grid computing – from local clusters to global networks - are being applied to financial applications. They will also describe the use of software and techniques from physics, such as Monte Carlo simulations, in the financial world. There will be four talks of 20min each. The talk abstracts and speaker bios are listed below. This will be followed by a Q&A panel session with the speakers. From 19:00 onwards there will be a networking cocktail for audience and speakers. This is an EGEE / CERN openlab event organized in collaboration with the regional business network rezonance.ch. A webcast of the event will be made available for subsequent viewing, along with powerpoint material presented by the speakers. Attendance is free and open to all. R...
This article discusses women's rights to inherit land, the impact of flexible loan schemes for women, and the paucity of available loan schemes for women. The poor without land ownership have many problems obtaining credit for shelter from conventional finance markets. The poor must limit loans to small amounts that banks do not want to bother with. Eligibility criteria for loans usually require collateral, such as a high and regular income, savings, or land. The poor, and particularly poor women, cannot acquire credit or can do so only through a husband or male relative. Female heads of households are discriminated against when the man is assumed to be the major income source. Most housing purchases in developing countries are made through cash payments from family savings or informal loans. Even small loans may place a heavy burden on women. The author gives several examples of credit groups and their success in generating income and housing security. There remains a need to provide training and education for women and to improve women's access to credit and land. Information should be available to women on how to obtain credit. Governments and nongovernmental organizations have a responsibility to provide support for women's efforts to provide housing and support for their families.
Full Text Available The enterprise nature has a close connection with its financing mode. An entrepreneur must distinguish between products and mainstream markets in order to make a positive profit in the competitive market, and he shall be in adequate control of the enterprise assets to execute this differentiation strategy. However, the start-up enterprise usually shall be invested with high capital, which makes the entrepreneur perform the secondary transformation to realize the standardization. Meanwhile the standardization may make the entrepreneur himself replaced by either external managers or internal staff. The paper shows that it generally makes equity financing more profitable than bond financing, and that the financing mode of an enterprise shall finally have an influence on its innovation ability.
Galema, Rients; Lensink, Robert; Spierdijk, Laura
International commercial banks, institutional investors, and private investors have become increasingly interested in financing microfinance institutions (MFIs). This paper investigates whether adding microfinance funds to a portfolio of risky international assets yields diversification gains. By
Galema, R.; Lensink, B.W.; Spierdijk, L.
International commercial banks, institutional investors, and private investors have become increasingly interested in financing microfinance institutions (MFIs). This paper investigates whether adding microfinance funds to a portfolio of risky international assets yields diversification gains. By
Full Text Available Healthcare in Poland is mainly financed by public sector entities, among them the National Health Fund (NFZ, state budget and local government budgets. The task of the National Health Fund, as the main payer in the system, is chiefly currently financing the services. The state budget plays a complementary role in the system, and finances selected groups of services, health insurance premiums and investments in healthcare infrastructure. The basic role of the local governments is to ensure access to the services, mostly by performing ownership functions towards healthcare institutions.
Financing strategies applied to Phase I and Phase II were quite different. In Phase I, the project was more sophisticated and involved investments in different types of assets: Site acquisition; site formation and foundations; gas-making plants and associated equipment; naptha tanks; naptha pipeline; twin submarine gas pipeline connected to the existing distribution network; and workshop and offices. For Phase II, the tenderers demanded payment in foreign currencies because of their international procurement and their concern over Hong Kong currency at the time of submitting the tender. The Phase II financing package consists of: (1) ECGD facilities with a fixed interest rate at 9.15% p.a.--8 years with repayment in 10 semiannual installments over the last 5 years. (2) Fixed rate bank borrowings at 9% p.a. with repayment at the end of 5 years (use of swaps to obtain long-term money at lower interest rate). (3) Foreign currency deposits to cover exposure in two other currencies. (4) Forward contract to cover repayment installments in Sterling in the last 5 years at much lower rates of exchange. In a nutshell, by using a combination of different financing instruments, HKCG was able to eliminate foreign exchange and interest rate risks and reduce the overall capital cost of the plant
Educational aids include printed matter, aural media, visual media, audiovisual media and objects. A distinction is made between learning aids, which include blackboards, overhead projectors, flipcharts, wallcharts and pinboards, and learning aids, which include textbooks, worksheets, documentation and experimental equipment. The various aids are described and their use explained. The aids available at the School for Nuclear Technology of the Karlsruhe Nuclear Research Centre are described
Ben Jelili, Riadh; Abdmoulah, Walid
Based on Aghion et al. (2005), this article provides new insights regarding whether financial development can affect economic growth non-linearly by adopting the concept of threshold effects. The empirical approach adopted in this article allows for the finance-growth relationship to be piecewise linear with a set of indicators including access to finance acting as a regime-switching trigger. Using cross-country observations from 144 countries stretching from 1985 to 2009, strong evidence of ...
D' Almeida, Albino Lopes [PETROBRAS, Rio de Janeiro, RJ (Brazil)
Project Finance is often used worldwide to raise the funds to develop big projects, particularly in the area of power and infra-structure. It is designed to support a singular project and a specific purpose company is created to obtain the financing. The debt payment is secured by the enterprise's cash flow, avoiding real guarantee requirements. The lenders receive the future revenues and the property of the assets to be built. The risks are mitigated by agreements exhaustively negotiated among the parties. One of the most important Project Finances performed in Brazil is the Marlim Project, structured in order to complete the development of the Marlim oil field. This is the biggest Brazilian oil field, producing more than 500,000 barrels a day, almost 35% of the national production. This paper presents the general concepts related to this type of financing and general information about the project, including its structuring, negotiation and closing. The total commitment reaches US$ 1.5 billion obtained in both domestic and international markets through equity, bridge loan, bonds and commercial papers. Its whole life is 10 years, using 2 special purpose companies in its configuration. (author)
Mollura, Daniel J; Azene, Ezana M; Starikovsky, Anna; Thelwell, Aduke; Iosifescu, Sarah; Kimble, Cary; Polin, Ann; Garra, Brian S; DeStigter, Kristen K; Short, Brad; Johnson, Benjamin; Welch, Christian; Walker, Ivy; White, David M; Javadi, Mehrbod S; Lungren, Matthew P; Zaheer, Atif; Goldberg, Barry B; Lewin, Jonathan S
The RAD-AID Conference on International Radiology for Developing Countries was an assembly of individuals and organizations interested in improving access to medical imaging services in developing countries where the availability of radiology has been inadequate for both patient care and public health programs. The purpose of the meeting was to discuss data, experiences, and models pertaining to radiology in the developing world and to evaluate potential opportunities for future collaboration. Conference participants included radiologists, technologists, faculty members of academic medical institutions, and leadership of nongovernmental organizations involved in international health care and social entrepreneurship. Four main themes from the conference are presented in this white paper as important factors for the implementation and optimization of radiology in the developing world: (1) ensuring the economic sustainability of radiologic services through financial and administrative training support of health care personnel; (2) designing, testing, and deploying clinical strategies adapted for regions with limited resources; (3) structuring and improving the role of American radiology residents interested in global health service projects; and (4) implementing information technology models to support digital imaging in the developing world. Published by Elsevier Inc.
Acquired Immunodeficiency Syndrome (AIDS) is a worldwide epidemic that affects all countries, developing and industrialized. The impacts of AIDS range from social, cultural, psychological to the economic and political. The World Health Organization (WHO) has mobilized international and national interest and resources to work on AIDS control and prevention. AIDS spreads in 3 ways mother to child, through blood, and sexually. Screening blood supplies can prevent the spread of AIDS. In 1987, 105 countries reported 49,132 cases to WHO, and estimated indicated over 100,000 cases. WHO estimate that by 1991 there will be over 1 million cases worldwide. Infant mortality rates due to AIDS may be 10-20/1000 births where 10% of pregnant women are infected. Homosexual, or bisexual men and intravenous drug users from 20 to 49 year old make up most of the cases of AIDS in North and South America, Europe, and Australia. It is estimated that Africa has over 1 million AIDS infected people but accurate counts are not available. There have been a small number of cases reported in Asia, and most of these have resulted from contaminated blood. It is currently estimated that 10- 30% of HIV infected persons will develop AIDS, and 25-50% will develop an AIDS related disease within 5 years. The majority of HIV infected persons will develop AIDS within 10 years and the rest, AIDS related diseases. The cost of a patient can run for $50,000-150,000 in direct medical care in industrialized countries. Since most of the people infected are from 20-49 years of age, their most productive years, a country's social and economic development is threatened. Education is presently the only way to prevent the spread of AIDS, and therefore all governments, as well as health and medical professional must make a extraordinary commitment.
Full Text Available The main objective of this paper is to evaluate the sustainability of public finance in Romania and to explore the fiscal threats Romania might face in the future. A sound fiscal policy implies avoiding excessive liabilities of the government, but at the same time delivering the proper public goods and services, including the necessary safety net in times of crisis. An unsustainable fiscal position negatively impacts on macroeconomic stability; moreover, if public finances are perceived to be unsustainable in the long run, the reaction of the international financial markets could generate a fiscal crisis, which might surprise the fiscal planners. The main findings of the paper are the following: i according to the multidimensional approach of the European Commission, in the short run, it seems that Romania is free from fiscal stress, there is a low risk in the medium term, and in the long run the risk becomes medium; ii a potential medium-term fiscal sustainability risk derives from the accumulation of losses and arrears in the business and companies sectors in which the state is a majority shareholder; iii Romania records one of the lowest budget revenues to GDP ratios in EU, while the Romanian tax system is characterized by a poor tax collection, inefficient administration and excessive bureaucracy; iv the structure of public spending in Romania is characterized by the predominance of wage spending and social assistance, while the poor state of the public pension system is an important vulnerability of the public finance position; v overall, the degree of tax compliance in Romania was only 55.8% in 2013, and according to the calculations made by the Fiscal Council, tax evasion represented 16.2% of GDP in 2013. All these aspects make up a grim picture of sustainability of public finances, which has to be considered by the public decision makers regarding future fiscal policy actions.
Marcel Kohler; Adrian Saville
Trade finance (or short-term credit) plays a crucial role in facilitating international trade yet is particularly vulnerable to financial crises as banks increase the pricing on all trade finance transactions to cover increased funding costs and higher credit risks. Whereas South Africa’s financial institutions largely managed to strengthen their capital positions during the global financial crisis, the country’s trade flows and access to capital (in particular trade finance & its costs) were...
The aim of this research is to draw a theoretical line to connect on a common conceptual base, behavioural fi-nance with what is internationally known as Modern Fi-nance. The debate often involves discussions about the prevalence of rationality over irrationality. This paper will address mainly two questions: as an economist, should I propend for traditional or for behavioural finance? And, perhaps more important, are they in opposition to each other? Linking the principles upon which the tra...
provides an overview of financing strategies and highlights a community that leveraged Clean Water State Revolving Fund (CWSRF) resources for a flood mitigation project that provided multiple economic, environmental, and social benefits.
David Cantarero Prieto
Full Text Available The present paper has as objective to study the whole relative problem to the autonomous communities and regional heath care expenditure financing in Spain. This article has a dual purpose. First, the financing of the current health care attendance is approached in the Spanish regions passing magazine to its possible variants and we observe that the balance of our system is clearly inclined towards the side of the integration in the general pattern of financing («Fiscal Room» with specific conditions («Mixed System». Secondly, we examine the new situation in the mark of health care and its corresponding financing in the new model approved in 2001, in terms of the effects of tax assignment on autonomous communities.
Its time to rethink how we fund transportation infrastructure because most transportation : experts agree: theres a transportation funding and financing crisis looming. : Projected revenues from current sources of transportation funding will am...
Maymin, Philip Z.
Finance has benefited from the Wolfram's NKS approach but it can and will benefit even more in the future, and the gains from the influence may actually be concentrated among practitioners who unintentionally employ those principles as a group.
Vito Tanzi; Hamid R Davoodi
The paper discusses some channels through which corruption affects growth such as the impact of corruption on enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public finance.
Laville, Dorine; Phantharangsi, Maryvonne; Monnoyer-Smith, Laurence; Demeulenaere, Laurence; Lequeux, Typhaine; Cuny, Alicia
As for the French Ministry of the Environment, participatory financing can be an innovating and mobilising tool to finance projects related to the energy and ecological transition, and as such a financing is promoted by the law on energy transition for a green growth, this publication presents this type of financing. It evokes its legal framework, its different forms (loan to companies, loan to individuals, gift, capital investment), its safe legal framework (definition of different types of status). It outlines how it can be a lever for energy and ecological transition even if green projects are difficult to quantify. It evokes the future introduction of a label, and the introduction of legal and regulatory measures to develop the renewable energy sector
Eschalier, Claire; Leseur, Alexia; Archambault, Sabrina; Joubert, Marion; Larrue, Clement; Rossin, Nicolas; Salenson, Irene
In June 2015, CDC Climat research, in partnership with AFD, published a mapping of the types of initiatives available for the financing of urban adaptation to climate change, offering additional options to more conventional sources of funding for climate change and sustainable development (national budget transfers, Official Development Aid, etc.). Based on the review of 27 main initiatives, the report shows a strong prevalence of initiatives supporting soft adaptation measures (strategy planning, capacity building, project design, technical assistance, etc). These are in a position to help support the development of a coherent portfolio of bankable projects. The mapping also reveals that local intermediaries (regional and local banks, national development funds, etc.) play a significant role in financing urban adaptation to climate change. Several key factor of success for the cities' access to these sources of funding are also identified, among which liaising with international development stakeholders (such as multilateral and bilateral donors) at the local level, and the identification of various co-benefits and synergies between the economic, environmental and climate impacts. (authors)
Rodriguez Osuna, V.; Vorosmarty, C. J.; Koehler, D.; Klop, P.; Spengler, J.; Buonocore, J.; Cak, A. D.; Tessler, Z. D.; Corsi, F.; Green, P. A.; Sánchez, R.
Sustainable investment is confronting a period of rapid growth and fundamental change. However, the methods used to evaluate corporate sustainability are failing to keep pace with this new reality. In contrast to the 1990s when corporate data on pollution or occupational health were not available in the public domain, today's investors can take advantage of rich data streams, owing to voluntary corporate disclosures of their business practices. Yet, the data companies declare are hardly standardized, difficult to verify, and thus run the risk of creating unreliable assertions, a form of "green-washing". A partnership comprising a pension fund, an asset manager and two research universities has created a science-based approach to quantify context and place it into a decision-making framework for investors. We have tested this framework on US$2.5 billion of assets held by a large European pension fund with an initial focus on four domains—water, climate change, human health and food security. Our standardized metrics enable coherent comparison of individual company and portfolios over time. To place a company's impact on water systems or climate change into context requires geographically co-locating company operations, combining these with estimates of industrial emissions or mitigation potential, baseline Earth system science data and geopolitical and demographic statistics. Recent developments regarding the Paris Accord are a warning that progress toward a sustainable future requires rethinking the roles that the public and private sectors can play in effecting meaningful change. The finance sector, if given the proper guideposts, could rapidly transform fraught public policy challenges like climate adaptation or the global loss of biodiversity into business opportunities. By utilizing a science-based yardstick to evaluate and compare companies on the basis of their impacts, attention could be drawn to companies that are verifiably contributing to sustainability.
Arndt, Channing; Jones, Edward Samuel; Tarp, Finn
of return to aid. Our results highlight the long run nature of aid-financed investments and the importance of channels other than accumulation of physical capital. We find the return to aid lies in ranges commonly accepted for public investments and there is little to justify the view that aid has had...
The article analyzes the problems of outdoor stationary sun-protective devices (S.P.D.) and their influence on the natural daylighting levels in the premises of civil objects of transport infrastructure under the hot and sunny climatic conditions of the environment. It is noted, that with clear sky, typical for the said climate, non-uniform luminance of the sky differs seriously from the luminance of standard overcast sky with diffused light, recommended by C.I.E. (Commission International D’Eclairage).A conclusion is made, that with clear sky conditions, a sun-protective devices in the form of stationary canopies (awninas) help to improve the lighting environment in the premises considered. This becomes possible due to reflected sun flow from the surfaces of SPD employed, as well as due to rise of a daylight factor values in farmost from windows zones of interiors, because of the increase of luminance factor values of the sky areas, observed from these zones. Thus, the SPD considered, in the hot and sunny climatic conditions are able not only to carry out their main function of passive method of solar radiation and thermal control in the interiors, but also to act as an efficient measure to improve lightning environment of the premises in question.
van Zyl, Hendra; Visser, Pieter; van Wyk, Elmarie; Laubscher, Ria
Objective: Innovative public health approaches are required to improve human immunodeficiency virus/acquired immunodeficiency syndrome (HIV/AIDS) education and prevention among adolescents, one of the most vulnerable groups to HIV/AIDS. Consequently, elearning and classroom instruction was assessed for HIV/AIDS knowledge uptake and internalizing…
Aastrand, C.; Mose, O.; Sorensen, B.
The past 20 years of wind energy experience in Denmark has primarily been based upon three financing schemes, tailored to individually owned, guild owned and utility owned wind turbines. The merits of and problems with these schemes are discussed, as well as their relations to specific legislation regarding e.g. taxation. It is finally explored, whether new forms of organisation, valuation and financing may be needed. (author)
Smith, D G; Wheeler, J R
The connection between the finance function and strategy in health systems is explored through discussions with chief financial officers (CFOs). The integration of finance into strategy is explored through the use of balanced scorecards, strategic investments and the analysis of core competencies and core enterprises. Divestiture of investments in health plans, physician practices and long-term care facilities is common, while outsourcing activity is increasing.
Joshua Coval; Jakub Jurek; Erik Stafford
This paper investigates the spectacular rise and fall of structured finance. The essence of structured finance activities is the pooling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known as tranches, against these collateral pools. As a result of the prioritization scheme used in structuring claims, many of the manufactured tranches are far safer than the average asset in the underlying pool. This ability of st...
The distinction between development assistance and climate finance is driven by an optic of compensation largely derived from the 'polluter pays' principle. For practical as well as conceptual reasons, this principle provides a weak basis for climate finance. The distinction also cuts against the need to holistically consider developmental, adaptation, and mitigation policies and naturally focuses on government-to-government flows despite the manifest need to catalyse non-official sources of ...
Arndt, Channing; Jones, Edward Samuel; Tarp, Finn
Controversy over the aggregate impact of foreign aid has focused on reduced form estimates of the aid-growth link. The causal chain, through which aid affects developmental outcomes including growth, has received much less attention. We address this gap by: (i) specifying a structural model...... of the main relationships; (ii) estimating the impact of aid on a range of final and intermediate outcomes; and (iii) quantifying a simplied representation of the full structural form, where aid impacts on growth through key intermediate outcomes. A coherent picture emerges: aid stimulates growth and reduces...
Foreign aid has evolved significantly since the Second World War in response to a dramatically changing global political and economic context. This article (a) reviews this process and associated trends in the volume and distribution of foreign aid; (b) reviews the goals, principles...... and institutions of the aid system; and (c) discusses whether aid has been effective. While much of the original optimism about the impact of foreign aid needed modification, there is solid evidence that aid has indeed helped further growth and poverty reduction...
Relindis Oyebog Moffor
Full Text Available This study proposes Caring Science as an innovative way to facilitate food systems sustainability in areas of the world that continue to suffer from food insecurity and food shortages. An interdisciplinary group that included a nurse, an agronomist, an environmentalist, and a statistical analyst collaborated to study food sustainability in a village in Bambui, Cameroon. The village was composed of only women and children, and all the women were diagnosed with HIV/AIDS. This interdisciplinary approach not only met the food needs of the village, but, within the assessment process, identified other needs as well. This interdisciplinary approach facilitated holistic assessment of food, finances, personal self-worth and health.
... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Finance charge. 226.4 Section 226.4 Banks and... LENDING (REGULATION Z) General § 226.4 Finance charge. (a) Definition. The finance charge is the cost of...) Charges by third parties. The finance charge includes fees and amounts charged by someone other than the...
King, Elizabeth; Patrinos, Harry; Rogers, Halsey
The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing…
IDAE (Institute of Energy Saving and Diversification) Hosted the Third party on financing renewable energy sources. The meeting was articulated into chapters: 1.- Experiences in the renewable energy field. 2.- Third party financing of small hydro-power projects. 3.- Third party financing of biomass projects. 4.- Third party financing of wind energy projects
... broadband loans to finance broadband facilities leased under the terms of a capital lease as defined in generally accepted accounting principles. RUS will not make a broadband loan to finance facilities leased... Facilities financed. (a) RUS makes broadband loans to finance the construction, improvement, and acquisition...
Ancker, Svetlana; Rechel, Bernd
The countries of Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan) are confronted with one of the fastest growing HIV/AIDS epidemics worldwide, largely driven through injecting drug use. This article, based on a review of academic and grey literature, explores how they have responded. We find major similarities and differences across the region. At one extreme is Turkmenistan, which denies that there is any problem, does not offer harm reduction services or HIV/AIDS treatment and does not report any meaningful data to the international community. Uzbekistan is also pretty closed to outside influences, has discontinued its opioid substitution project and shares with Turkmenistan the legal prohibition of male-to-male sex. Kyrgyzstan originally led many progressive approaches in the region and, like neighbouring Tajikistan, has received substantial assistance by international agencies, in particular the Global Fund. Kazakhstan, with a much higher gross domestic product per capita, has taken on the financing of harm reduction activities through its national budget and has liberalised its drug policies. Yet, across the region punitive approaches to injecting drug use and people living with HIV/AIDS persist as do stigma and discrimination, while coverage with harm reduction programmes and treatment services is still low although with substantial variation across countries.
This paper examines the role of public instruments in promoting private finance to achieve off-grid sustainable energy access. Renewable energy technologies are increasingly becoming the cheapest solutions for off-grid energy access. The dramatic uptake of mobile phones in developing countries shows how quickly decentralized services can develop on a commercial basis under the right conditions, and raises the prospect that private finance could also drive decentralized energy access for the poor. Indeed, there are already a number of instances of clean energy solutions – such as solar portable lights, household biogas units or solar home systems – that have managed to scale-up through leveraging private finance. However, the experience gained from first-generation market development projects show that, in almost all cases, significant public resources have been necessary to increase the affordability of clean energy technologies, provide access to financing for the poor, and remove non-economic barriers. Such public interventions may be funded by international public finance, domestic budgets and carbon finance. Despite mounting fiscal constraints facing governments worldwide, the emergence of new sources of climate finance and the political momentum in support of energy subsidy reforms, as well as new programming modalities, offer opportunities to leverage additional resources to achieve universal energy access by 2030. - Highlights: ► Renewable energy is increasingly the cheapest solution for off-grid energy access. ► Universal access to energy now depends less on technology and more business models. ► Substantial public finance will still be required to support universal energy access.
AIDS (acquired immune deficiency syndrome) is caused by HIV (human immunodeficiency virus), and is a syndrome that ... life-threatening illnesses. There is no cure for AIDS, but treatment with antiviral medicine can suppress symptoms. ...
Carvajal, Ana Fiorella; Loladze, Tamuna; Hammersley, James Walter; Anderson, Jeffrey David; Walley, Simon Christopher; Kemmish, Richard
Emerging market economies (EMEs) face significant funding gaps in strategic sectors, such as infrastructure and small and medium enterprise (SME) financing, that if not addressed can stifle growth. In this context, in 2015 the finance and markets (F and M) global practice led the production of a joint World Bank Group (WBG) and International Monetary Fund (IMF) and Organization for Economi...
This study investigates the effect of the recent financial crisis on the investment of Dutch SMEs (small and medium sized enterprises). Precisely, the focus is on the availability of internal finance and external finance of Dutch SMEs and their effect on the investments during the recent financial
Jain, A.K.; Chakraborty, D.K.
Chamera Hydroelectric Project was selected by National Hydroelectric Power Corporation (NHPC) as a pilot project for accelerated development of hydro-power in the country. This project was considered to have certain distinct specialties from different aspects in comparison with other projects. In the first place, the field investigation for the project was completed in a record time of only eight months by deploying the most modern techniques. Secondly, Chamera was the first NHPC project with external aid both technically and financially. The third and most important of all the specialties was in the planned reduction of construction period to 6 years from the original estimate of 8 years. Such reduction of gestation period was considered to be the direct outcome of modern method of management, monitoring and improved imported technology. The investment decision in the project was taken in April '84 with an estimated cost of energy at busbar 44.12 paise/unit exclusive of return on equity capital and royalty payable to the home state. The all inclusive rate of power was estimated 75.86 paise/unit. (author). 4 tabs
The CERN Finance and Procurement (FP) Department handles around 35,000 internal purchase orders every year. A large number of them are processed by administrative assistant Sarah Pamelard and her two colleagues Dominique Trolliet and Laurence Fol. As you will see, this is not just any old desk job. Sarah Pamelard in her office. Sarah Pamelard has worked at CERN for 23 years (see box). She began her career as an assistant in the electronics design office and has been an administrative assistant in the FP Department's purchasing service for the last year and a half. Her work involves processing all internal purchase orders for amounts not exceeding 10,000 CHF. "For each order we have to find the supplier who will provide the best services. Our search covers suppliers in all the Member States to ensure the best possible balance of financial return among them", explains Sarah. The skills that the job demands are not confined to the area of finance. Above all, you need to be very w...
Full Text Available Background: The evolving nature of palliative care and its renewed role in people living with HIV/AIDS (PLWHA in the post-HAART (highly active anti-retroviral therapy era warrants an evaluation of the present curriculum in medical under graduates. Objectives: The objectives are (1 to measure the existing knowledge regarding palliative care and its application to PLWHA among medical interns and (2 to measure the impact of a structured intervention on knowledge dimensions. Design and Setting: Interventional repeated measures study. Materials and Methods: A convenience sample of 106 interns in the medical college completed a pre-test assessment and a post-test assessment following a structured intervention for evaluation and comparison of knowledge over three dimensions which were (1 knowledge of palliative care and its application in PLWHA, (2 medical symptoms in PLWHA requiring palliative care and (3 psychosocial needs in PLWHA requiring palliative care. Results: The mean scores on knowledge showed a consistent increase after the structured intervention and Student′s t-test was significant across three dimensions of knowledge of palliative care and its application (t=9.12, P value <0.001, medical symptoms in PLWHA requiring palliative care (t=12.72, P value <0.001 and psychosocial needs in PLWHA (t=11.14, P value <0.001. Conclusion: In spite of the unique challenges presented by the varying course of illness in PLWHA and the variety of needs on the medical, psychosocial and family dimensions, a structured approach and an integrated course curriculum involving principles of both primary and palliative care principles will improve the efficiency of the undergraduate medical education program and enable delivery of effective palliative care interventions and improve quality of life in PLWHA.
Shea (Vitellaria paradoxa) butter is an important internationally recognised economic commodity because of its food and medicinal potentials. However, access to finance for small-scale forest enterprises such as shea butter production and marketing remains a fundamental problem, which affects the growth and ...
Simm, Ian; Haq, Amir; Widge, V.
The article reports on the International Finance Corporation's support of projects in Kenya where the funding is being used to enlarge the solar lending of a network of financial organisations which can reach a large number of rural Kenyans. The demand, advantages and potential of photovoltaics and solar systems generally in Kenya are discussed. Kenya's fragile financial institutions are mentioned
Lee, Sangkeun [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Chinthavali, Supriya [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Shankar, Mallikarjun [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Zeng, Claire [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hendrickson, Stephen [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)
The Office of Energy Policy and Systems Analysis s finance team (EPSA-50) requires a suite of automated applications that can extract specific data from a flexible data warehouse (where datasets characterizing energy-related finance, economics and markets are maintained and integrated), perform relevant operations and creatively visualize them to provide a better understanding of what policy options affect various operators/sectors of the electricity system. In addition, the underlying data warehouse should be structured in the most effective and efficient way so that it can become increasingly valuable over time. This report describes the Energy Finance Data Warehouse (EFDW) framework that has been developed to accomplish the defined requirement above. We also specifically dive into the Sankey generator use-case scenario to explain the components of the EFDW framework and their roles. An excel-based data warehouse was used in the creation of the energy finance Sankey diagram and other detailed data finance visualizations to support energy policy analysis. The framework also captures the methodology, calculations and estimations analysts used for the calculation as well as relevant sources so newer analysts can build on work done previously.
Full Text Available The reasons for dealing with the chosen topic can be found in the fact that there is a certain number of anomalies, system errors and conduct leaving the frames of rational behaviour, not being included and presented synthetically within a concise scientific work. Instead, the analysis deals with definite, already identified postulates of behavioural economics and finance. During the research, induction, deduction, comparative and abstraction methods are used. The challenge of the research lies in the identification of those system errors, partialities and behaviours deviating from postulates of rational, typical for classical finance, not being covered by standard behavioural, economic and finance literature. However, the challenge is even bigger because of the fact that it deals with answers to demands of universality and conciseness. Its greatest importance is reflected in the extent of identified and processed anomalies decision makers face, as well as in the identification and description of factors implying absence of rationality during the decision making process.
To comply with a common IATI standard, we format our data in an agreed electronic format, XML (Extensible Markup Language), and host it on our website. This data can then be processed to help track, analyze, and monitor research support activities by linking to the IATI Registry. The registry is an online catalogue and ...
Full Text Available Why there are high costs to finance in Republic of Moldova? Is it a problem for business environment?These are the questions discussed in this paper. Following the well know Growth Diagnostics approach byHausmann, Rodrik and Velasco, authors assess the barriers and impediments to access to finance in Republic ofMoldova. Guided by international and national statistics we found evidence of poor intermediation, poorinstitutions, high level of inflation, and high collateral as major causes of high cost of financial resources inRepublic of Moldova. At the end of the study authors give policy recommendations identifying other related fieldsto be addressed.
This thesis advances and substantiates the claim that financialization and hegemony in the twentieth century are two sides of the same process. It begins by reviewing the insights and limitations of existing theories of hegemony and world order in the international political economy and international relations literature. Foundational categories in the theory of hegemony, such as capital, the state, money, finance and globalization are then re-examined with the intent of superseding some of t...
As the financing emerged during the Paris COP21 and in IPCC reports as a need as well as a mean to act against climate change, the author first discusses the issue of the cost of adaptation and of its financing. She also discusses whether mitigation costs would result in destabilising financial flows. She comments the possible stronger decline of investments in fossil energies, and addresses the problem of fund raising for adaptation and mitigation. She discusses the possibility of a pricing action (notably regarding CO 2 ) to constrain economic actors, and the necessity of a re-assessment of the carbon risk
Compton, Clark W.
Designed to assist established businesspeople with the development of a loan proposal, this workbook offers information on sources of financing and step-by-step guidance on applying for a loan. After chapter I discusses borrowers' and lenders' attitudes towards money, chapter II offers suggestions for determining financial needs. Chapter III lists…
... as well as the media. Mobilising basic social communications may be a necessary resource (as much as services and finance) to scale HIV prevention and treatment to the population level. Keywords: affective behaviour change, community, sexual behaviour, social capital, survey. African Journal of AIDS Research 2004, ...
Hansen, Annette Skovsted
Stakeholders of two success story events negotiated an idea of development as individual entrepreneurship. The sixty-five-year-old Japanese Foreign Aid history includes stories of successes told by professionals from developing countries throughout the world. Their stories reflect the cultural an...... sector training programs partly financed by Japanese Official development Assistance (ODA)....
Hansen, Annette Skovsted
Stakeholders of two success story events negotiated an idea of development as individual entrepreneurship. The sixty-five-year-old Japanese Foreign Aid history includes stories of successes told by professionals from developing countries throughout the world. Their stories reflect the cultural...... sector training programs partly financed by Japanese Official development Assistance (ODA)....
This paper examines the higher education system in Brazil and one of the financial aid policies that the government has established. It seeks to find whether the Fundo de Financiamento ao Estudante do Ensino Superior (FIES), Financing of Higher Education Student, a financial aid program established by the Brazilian government in 1999, addresses…
Kamelgarn, Yona; Blanc, Dominique
sample communicates on direct greenhouse gas emissions, only a quarter of the companies analysed said they were doing research work on financed emissions. NGOs are putting more pressure on the financial sector. NGOs are increasingly taking banks and insurers to task, denouncing the companies in question through studies measuring their financing of fossil fuels. Friends of the Earth in France and BankTrack internationally have singled out the financial sector's significant contribution to coal-fired power stations. Rating agencies focus primarily on the risk management practices of banks and insurers. However, they are upgrading their analysis of the financial sector and making increasing use of external data to check that the policies introduced have a real environmental impact on financed activities and products. (authors)
Naz Foundation, London (England).
The Naz Foundation sponsors a project on HIV and AIDS education, prevention, and support among South Asian, Turkish, Irani, and Arab communities in Europe. As immigrants, ethnic minorities, and refugees, these people are not isolated from the societies in which they live, and are just as vulnerable as any other community to AIDS. A conference on…
Full Text Available This paper presents some modalities and financing forces for business, getting out in the first place the entrepreneur ingenuity for finding these sources of financing necessary for the business success. Also get some contributions and proposals regarding the criteria’s of which the entrepreneur must be take care in choosing the financial sources, for preparing the finance pack and presenting the financing demands, which good documented, not only grows up the chances of one financing but also can lead to fix some relations on long time with financing source.
The advent of the new millennium has witnessed the embracing of a different perspective on global health aid. New and innovative mechanisms in health-aid financing are leading to new opportunities, focused on greater innovation, risk taking and speed. However, these opportunities might not fully materialize if the traditional approaches of channeling and using funds are followed. To maximize global aid effectiveness and to have a realistic chance of achieving the Millennium Development Goals, the implementation of a holistic approach to the global architecture of health aid will be essential.
... NIH Research Matters January 13, 2014 Arthritis Genetics Analysis Aids Drug Discovery An international research team identified 42 new ... Edition Distracted Driving Raises Crash Risk Arthritis Genetics Analysis Aids Drug Discovery Oxytocin Affects Facial Recognition Connect with Us ...
Joshua Yindenaba Abor
Full Text Available This study examines SMEs’ access to bank finance and how that affects their export activities. The study adopts a probit model to assess the empirical relations. The findings of the study suggest that SME access to bank finance improves their likelihood to export. Such finance is critical to cater for the high fixed costs of exporting, international marketing and branding, and meeting higher quality standards required for overseas markets. The results of the study also indicate that older firms, more productive firms, and larger firms are more likely to take the important step of entering into the export market. Policy interventions should therefore be directed at reducing the bottlenecks that prevent SMEs from accessing funding from the commercial banks.
He Jiachen; Shen Wenquan; Zhang Luqing
This paper describes the Chinese experience in financing the construction of its nuclear power plants. The key issue was utilization of a specific combination of export credit and commercial loans on both the international and domestic financial market. (author)
Due to the implementation of the International Bank for Reconstruction and Development (IBRD) loan project "Prevention, diagnosis, treatment of tuberculosis and AIDS", a "Tuberculosis" component that is an addition to the national tuberculosis control program in 15 subjects of the Russian Federation, followed up by the Central Research Institute of Tuberculosis, Russian Academy of Medical Sciences, the 2005-2008 measures stipulated by the Project have caused substantial changes in the organization of tuberculosis control: implementation of Orders Nos. 109, 50, and 690 and supervision of their implementation; modernization of the laboratories of the general medical network and antituberbulosis service (404 kits have been delivered for clinical diagnostic laboratories and 12 for bacteriological laboratories, including BACTEC 960 that has been provided in 6 areas); 91 training seminars have been held at the federal and regional levels; 1492 medical workers have been trained in the detection, diagnosis, and treatment of patients with tuberculosis; 8 manuals and guidelines have been prepared and sent to all areas. In the period 2005-2008, the tuberculosis morbidity and mortality rates in the followed-up areas reduced by 1.2 and 18.6%, respectively. The analysis of patient cohorts in 2007 and 2005 revealed that the therapeutic efficiency evaluated from sputum smear microscopy increased by 16.3%; there were reductions in the proportion of patients having ineffective chemotherapy (from 16.1 to 11.1%), patients who died from tuberculosis (from 11.6 to 9.9%), and those who interrupted therapy ahead of time (from 11.8 to 7.8%). Implementation of the IBR project has contributed to the improvement of the national strategy and the enhancement of the efficiency of tuberculosis control.
Carlucci, James G; Blevins Peratikos, Meridith; Kipp, Aaron M; Lindegren, Mary L; Du, Quy T; Renner, Lorna; Reubenson, Gary; Ssali, John; Yotebieng, Marcel; Mandalakas, Anna M; Davies, Mary-Ann; Ballif, Marie; Fenner, Lukas; Pettit, April C
Management of tuberculosis (TB) is challenging in HIV/TB-coinfected children. The World Health Organization recommends nucleic acid amplification tests for TB diagnosis, a 4-drug regimen including ethambutol during intensive phase (IP) of treatment, and initiation of antiretroviral therapy (ART) within 8 weeks of TB diagnosis. We investigated TB treatment outcomes by diagnostic modality, IP regimen, and ART status. We conducted a retrospective cohort study among HIV/TB-coinfected children enrolled at the International Epidemiology Databases to Evaluate AIDS treatment sites from 2012 to 2014. We modeled TB outcome using multivariable logistic regression including diagnostic modality, IP regimen, and ART status. Among the 386 HIV-infected children diagnosed with TB, 20% had microbiologic confirmation of TB, and 20% had unfavorable TB outcomes. During IP, 78% were treated with a 4-drug regimen. Thirty-one percent were receiving ART at the time of TB diagnosis, and 32% were started on ART within 8 weeks of TB diagnosis. Incidence of ART initiation within 8 weeks of TB diagnosis was higher for those with favorable TB outcomes (64%) compared with those with unfavorable outcomes (40%) (P = 0.04). Neither diagnostic modality (odds ratio 1.77; 95% confidence interval: 0.86 to 3.65) nor IP regimen (odds ratio 0.88; 95% confidence interval: 0.43 to 1.80) was associated with TB outcome. In this multinational study of HIV/TB-coinfected children, many were not managed as per World Health Organization guidelines. Children with favorable TB outcomes initiated ART sooner than children with unfavorable outcomes. These findings highlight the importance of early ART for children with HIV/TB coinfection, and reinforce the need for implementation research to improve pediatric TB management.
G. Baltussen (Guido)
textabstractThis thesis applies insights from psychology and other behavioral sciences to overcome the shortcomings of the traditional finance approach (which assumes that agents and markets are rational) and improves our understanding of financial markets and its participants. More specific, this
Items 1 - 16 of 16 ... It seeks to encourage thinking among academics, practitioners and policy makers in the fields of Accounting and Finance, Economics, Business Management, and Public Administration and Development Management. Equally important, its main mission is to stimulate research-based and inter- and ...
Californians are very concerned about funding for their K-12 public schools. They consistently say that K-12 education should be protected from spending cuts over and above any other area of the state budget. California's system of school finance is in trouble. Many studies have found it to be inequitable, with wide variation in per-pupil funding.…
This paper dissects the financial crisis through an analysis of financial development in Ireland. Although a single system, Irish finance is split in two. Illustrative of national financial developments, this paper details how public officials aimed to create a financial center in Cork. Exemplifying
The author proposes four guideposts for efficient low carbon finance: remove subsidies for high-carbon technologies, improve the cost-effectiveness of low-carbon subsidies, encourage private sector innovation and maintain transparent public policy tools that support cost-benefit accounting
The purpose of the Act is to enable British Nuclear Fuels Limited to make borrowings backed by Government guarantees in order to finance its ten year investment programme. More specifically, the Act raises the financial limit applicable to British Nuclear Fuels Limited from pound 500 million to pound 1,000 million. (NEA) [fr
Adams, Matthew C.
Examines off-balance sheet financing, the facilities use of outsourcing for selected needs, as a means of saving operational costs and using facility assets efficiently. Examples of using outside sources for energy supply and food services, as well as partnering with business for facility expansion are provided. Concluding comments address tax…
This dissertation studies how locality, in the form of inequality, historical events and regulation matter for financial outcomes. The first two chapters, joint with Fabio Braggion and Steven Ongena, shed light on how local inequality can affect the financing choices of start-up firms and
Drs. Ewoud Jansen
Most Corporate Finance textbooks are 1,000 pages in length or more. And indeed, it is a multifaceted discipline that requires detailed coverage of many ideas and principles. However, the basics can be outlined in a much more condensed manner and there aren’t many books out there that cater to the
One could argue that CDSs improve risk sharing, hence credit supply and financing terms for firms. Accordingly, one would expect risky borrowers to benefit the most from CDS insurance. This is in contrast, however, with recent empirical evidence (Ashcraft and Santos (2009) and Hirtle (2009)). This
This thesis focuses on the three major participants in pension finance, namely, pension funds, individuals, and sponsoring companies. In the light of the fragile financial market performance, prudential regulatory rules, including Value-at-Risk (VaR) constraints, are imposed widely all over the
The purpose of this article is to examine the structure of financing for mining enterprises in the years 2007-2013, with particular emphasis on bonds. The document pays special attention to Polish mining enterprises. The financing structure analysis was based on data collected from financial statements (cash flows) of the largest mining companies in Poland, and their comparison with the results of global mining enterprises pursuant to reports prepared by international advisory firms. The article takes into account capital sources such as: corporate bonds, bank loans and issue of shares. As indicated by the performed analysis, mining enterprises both around the world and in Poland are increasingly eager to take advantage of obtaining business financing from issue of corporate bonds. It should also be recognized that in the analyzed period, both global and Polish mining enterprises deviate from forms of financing such as issue of shares. This may be caused by the fact that the bonds market in Poland is becoming increasingly popular, mainly due to interest rate on bonds being lower in comparison with bank loans. Another reason may be that banks and potential buyers of shares are less eager to finance this type of investment due to a relatively substantial risk acceptable to bondholders.
Bouzguenda, N.; Albouy, M.; Nisan, S.
This paper focuses on a case study of financing a project of an integrated nuclear desalination system at la Skhira site in Tunisia. More specifically, it shows the financial characteristics of this project, known as TUNDESAL, the main financing mechanisms that can be used, and the principal actions required to attract the potential investors and lenders. The paper describes the basic requirements for the deployment of nuclear energy in a developing or an emerging country, with no previous experience of nuclear power; the specific financial considerations corresponding to the particular characteristics of nuclear desalination projects: high capital costs, high level of risks and uncertainties related in particular to long construction lead times and social and environmental concerns; the main risks of these projects; the profitability study of the TUNDESAL project: application of the discounted cash flow analysis; the main financing sources for the project; the financing schemes that can be used for project implementation and comparison between these schemes in terms of benefits generated, after covering project costs and repayment of lenders and investors; the main actions to be done for making the project financially attractive in order to gain the confidence of investors and international financial institutions (optimal allocation of project risks and uncertainties, a suitable and flexible energy and water tariffs policy, etc.). The analysis has shown that in particular conditions of Tunisia, the most attractive financial scheme could be the 'project financing + leasing'. (authors)
Mulenga, Arnold; Ataguba, John Ele-Ojo
Ensuring an equitable health financing system is a major concern particularly in many developing countries. Internationally, there is a strong debate to move away from excessive reliance on direct out-of-pocket (OOP) spending towards a system that incorporates a greater element of risk pooling and thus affords greater protection for the poor. This is a major focus of the move towards universal health coverage (UHC). Currently, Zambia with high levels of poverty and income inequality is implementing health sector reforms for UHC through a social health insurance scheme. However, the way to identify the health financing mechanisms that are best suited to achieving this goal is to conduct empirical analysis and consider international evidence on funding universal health systems. This study assesses, for the first time, the progressivity of health financing and how it impacts on income inequality in Zambia. Three broad health financing mechanisms (general tax, a health levy and OOP spending) were considered. Data come from the 2010 nationally representative Zambian Living Conditions and Monitoring Survey with a sample size of 19,397 households. Applying standard methodologies, the findings show that total health financing in Zambia is progressive. It also leads to a statistically significant reduction in income inequality (i.e. a pro-poor redistributive effect estimated at 0.0110 (p taxes (0.0101 (p taxes. This points to areas where government policy may focus in attempting to reduce the high level of income inequality and to improve equity in health financing towards UHC in Zambia. Copyright © 2017 Elsevier Ltd. All rights reserved.
British nuclear experts have begun raising international aid agency interest in financing studies into cleaning up vast areas of the Ukraine still contaminated with fallout from the Chernobyl reactor explosion in April 1986. In a new 11-month investigation of the area outside an 18.6-mile radius of Chernobyl, the experts identified 80 necessary studies estimated to cost $62 million. open-quotes That's just to get the system up and running. The total cost is much larger, but the authors don't yet know how much,close quotes says investigation coordinator Alan Eggleton of AEA Technology Ltd., Harwell, which led the study team. According to the report, radioactivity contaminated 19,000 sq miles of the Ukraine. The government is now spending some 12% of its income on mitigating the contamination, although most spending is for victim compensation and resettlement
This paper analyses the private records of a prominent bank in 16 th century Lyons, that of the Salviati, to examine the role of the fair deposit in the financing of international trade. The fair deposit appears to be a flexible clearing instrument sustaining the auto-financing of European big business. The credit mobilized through deposit is mostly derived from international trade and banking, where it is instantly re-injected. Investments are stimulated by the numerous advantages offered by...
Buonaguro, Franco M.
The AIDS and Infectious Diseases (AID) PMP of the WFS contributed this year with a session on August 22nd to the Plenary Sessions of the International Seminars on Planetary Emergencies and Associated Meetings--46th Session: The Role of Science in the Third Millennium (Erice, 19-24 August 2013). Furthermore a workshop on August 24th was organized...
Parker, W. [Institute for Sustainable Power, Highlands Ranch, CO (United States); Syngellakis, K. [IT Power Ltd, The Manor house, Chineham (United Kingdom); Shanker, A. [Innovation Energie Developpement, IED, Francheville (France)
This report for the International Energy Agency (IEA) made by Task 9 of the Photovoltaic Power Systems (PVPS) programme takes a look at how PV-based rural electrification in developing countries can be financed. The objective of Task 9 is to increase the overall rate of successful deployment of PV systems in developing countries through increased co-operation and information exchange. This document provides an introduction to PV project financing, including funding sources available, strategies and planning needed to secure the necessary financial resources for the deployment of PV technologies in developing and transitional economies. Topics discussed include risk analysis and the barriers to financing, sources of financing, considerations and variables that influence financing decisions and the process for securing financing. Various forms of international and national financing are looked at, as are the factors influencing financing decisions.
Drs. Ewoud Jansen
Finance and accounting behandelt in een boek de essentiele aspecten van drie disciplines: financieel management, management accounting en financial accounting. Dit maakt Finance and accounting tot een breed en waardevol engelstalig naslagwerk.
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The Water Infrastructure and Resiliency Finance Center serves as a resource to communities to improve their wastewater, drinking water and stormwater systems, particularly through innovative financing and increased resiliency to climate change.
Luiz Henrique Herling
Full Text Available This study aims to show how they are organized studies in financial management and what is the paradigm that support the theories presented until today, contextualizing how financial management is organized within the science of Directors in historical and evolutionary terms . Based on the decisions of the financial manager of investment , financing and operations , the study seeks to show that the philosophical basis that supports the theories developed . Yet for better understanding separates financial management in personal finance , financial markets and corporate finance , the latter being the main focus of the study . In the literature we can divide and stratify studies in corporate finance for a better understanding . By analyzing under an evolutionary approach notes a growing chains in other studies in finance , such as public finance, behavioral finance and here called green finance.
Literature was reviewed to appraise the advantages and disadvantages of each financing mechanism evaluated, and, where applicable, highlight examples of their use in Oregon. Financing mechanisms were then assessed for suitability for funding intercha...
T. Wang (Teng)
markdownabstract__Abstract__ This dissertation bundles three empirical studies in the area of corporate finance and banking. These studies investigate corporates’ financing activity with a special focus on the interaction between the banking industry and corporate borrowers. By showing how
Bobby Yulandika Putra
Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty
Lappe, Frances Moore; And Others
Reasons why U.S. foreign aid fails to alleviate hunger and poverty are discussed and a solution to the problem is presented. The United States now channels more foreign aid than ever to the world's poor and hungry through the Agency for International Development, food aid programs, the World Bank, and other multilateral aid agencies, which report…
Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)
A recent National Association of Independent Schools (NAIS) survey of more than 1,200 individuals who filed financial aid forms underscores the central role financial aid plays in their ability to pursue a private education for their children. This article highlights the survey findings, demonstrating why school leaders need to thoroughly analyze…
... prefer the open-fit hearing aid because their perception of their voice does not sound “plugged up.” ... My voice sounds too loud. The “plugged-up” sensation that causes a hearing aid user’s voice to ...
Foreign aid has evolved significantly since the Second World War in response to a dramatically changing global political and economic context. This article (a) reviews this process and associated trends in the volume and distribution of foreign aid; (b) reviews the goals, principles...
Kai Quan Zhang
Full Text Available Environmental protection firms need to improve their ability to access financing while maintaining good economic performance under mounting environmental pressures. After the integration of trade-off and stakeholder theories, we have constructed a number of mathematical models to investigate the relationship among financing decisions, environmental performance (EP, and economic performance. Unbalanced panel data from environmental protection companies listed on Chinese stock exchanges from 2007 to 2016 were collected and analyzed. Our results have confirmed that debt financing has a significant impact on short- and long-term economic performance. Firms prefer long-term debt over short-term debt to improve their financial sustainability. Internal financing is positively related to performance because the cost of financing is lower. Environmental performance can cause extra financial burden in the short run, but will improve stakeholder relations and profitability in the long run. Our study suggests that environmental performance affects the relationship between financing decisions and economic performance. When EP initiatives are high, debt financing has a greater negative influence on short-term performance, and the effect on long-term performance is mitigated. High EP also reduces the impact of internal financing on performance.
Addison, Tony; Niño-Zarazúa, Miguel; Tarp, Finn
This paper discusses past and current social policy strategies in the international aid architecture. From the 1990s, aid strategy and policy shifted to put a stronger emphasis on human development. This accelerated with the Millennium Development Goals and will continue under the Sustainable Dev...
Addison, Tony; Niño-Zarazúa, Miguel; Tarp, Finn
This paper discusses past and current social policy strategies in the international aid architecture as an introduction to the UNU-WIDER Special Issue. Beginning in the 1990s, aid strategy and policy shifted to put a stronger emphasis on human development. This accelerated with the Millennium Dev...
Hoadley, Susan; Kyng, Tim; Tickle, Leonie; Wood, Leigh N.
Finance threshold concepts are the essential conceptual knowledge that underpin well-developed financial capabilities and are central to the mastery of finance. In this paper we investigate threshold concepts in finance from the point of view of students, by establishing the extent to which students are aware of threshold concepts identified by…
The study was on cooperative societies financing of agricultural enterprises in Mbaise Area of Imo State, Nigeria. The objectives includes, identification of sources of finance for the cooperative societies and types of agricultural enterprises financed, profitability of the enterprises and the members or loan beneficiaries ...
Atkinson, Glen W.; Sears, Thomas A.
Nevada is simultaneously undergoing tax reforms and attempts to achieve educational equity in school finance. This paper gives the background and history of Nevada's school finance system and assesses the impact of recent tax reforms. The authors first review Nevada's population, enrollment, and conditions of school finance before tracing the…
Developing economies face a gigantic lack of financing for urbanization due to the absence of formal and transparent property markets. The paper discuss the interference between mortgage finance and collateral security by using the Danish mortgage financing model as an example, because of its 200...
Holman, Lance S.
Private placement financing is a debt or capital lease obligation arranged between a municipality or a 501(c) (3) not-for-profit organization and a single sophisticated institutional investor. The investor can be a bank, insurance company, finance company, hedge fund, or high-net worth individual. Private placement financing is similar to…
The National Standards for Business Education include nine areas relating to international business: awareness, communication, environmental factors, ethics, finance, management, marketing, import/export, and organizational structure of international business. (SK)
Deze publicatie van het Amsterdam Center for Corporate Finance in haar discussiereeks ‘Topics in Corporate Finance’ gaat over de financiële crisis. Dat het financiële systeem het afgelopen jaar enige schrammetjes heeft opgelopen is een understatement. Het financiële stelsel staat onder druk. Grote
New York State Education Department, 2017
The "Analysis of School Finances in New York State School Districts" is an annual publication providing a meaningful perspective to staff in the Division of the Budget, the Legislature, the Education Department, and school officials concerning school expenditures, State Aid, and local support. This edition of the Analysis summarizes the…
New York State Education Department, 2016
The "Analysis of School Finances in New York State School Districts" is an annual publication providing a meaningful perspective to staff in the Division of the Budget, the Legislature, the Education Department, and school officials concerning school expenditures, State Aid, and local support. This edition of the Analysis summarizes the…
Michigan radically altered its school finance system in 1994. The new plan, called Proposal A, significantly increased state aid to the lowest-spending school districts and limited future increases in spending in the highest-spending ones, abolishing local discretion over school spending. I investigate the impact of Proposal A on the distribution…
Meijer, M.; Laurensse, S.; Simon, T.
In the title project the focus is on organizations and projects in the Dutch market for solar electricity, characterized by: minimal dependence on subsidies (state aid), the removal of high initial investments by users (financing), and structures that can easily be extended or replicated (scale) [nl
Background: We conducted a case study of the Zimbabwe National AIDS Trust Fund ('AIDS Levy') as an approach to domestic government financing of the response to HIV and AIDS. Methods: Data came from three sources: a literature review, including a search for grey literature, review of government documents from the ...
This chapter focuses on risk management of merchant power generation projects and describes project finance as balancing risk and reward over time. The historical background to risk management is traced, and the case for derivatives in energy project finance is put forward with the hedging of forward output, and forwards and power purchase agreements discussed. Current and prospective usage, and the implementation issues of market liquidity, margin calls, letters of credit, derivative counterparty credit risk, and accounting policy are considered. A detailed example of a gas-fired plant in the US is presented with details given of the distribution of project earnings before tax. Oil field operating cashflows are examined, with reserved flow models, leverage effects, and price hedging addressed
Ludkovski, Michael; Sircar, Ronnie
This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...
problem may reveal or create additional problems. As such, it is essential that the problem is exam - ined not as a stand-alone subject, but in the...terrorist finance could not be looked at in isolation. It is this realization that gave birth to the term “threat finance” which exam - ines not only...Newsletter, Charlottesville, VA: University of Virginia, 2001, available from www.virginia.edu/ soa - sia/newsletter/Fall01/warfare.html, accessed on October
Christopher L. Gilbert
The term “anomaly” played a crucial role in Thomas Kuhn’s characterization of scientific progress. For Kuhn, an anomaly is a puzzle which challenges an accepted paradigm. Puzzles only achieve anomalous status once an alternative paradigm becomes available which allows explanation of the puzzle. Anomalies were introduced into the finance literature by Michael Jensen but more as resolvable puzzles than Kuhnian anomalies. They entered economics via Richard Thaler who saw behavioural economics as...
Montero Torralbo, Miquel; Kohatsu-Higa, Arturo
In this article, we give a brief informal introduction to Malliavin Calculus for newcomers. We apply these ideas to the simulation of Greeks in Finance. First to European-type options where formulas can be computed explicitly and therefore can serve as testing ground. Later, we study the case of Asian options where close formulas are not available, and we also open the view for including more exotic derivatives. The Greeks are computed through Monte Carlo simulation.
Mathematical finance explores the consistency relationships between the prices of securities imposed by elementary economic principles. Commonplace among these are replicability and the absence of arbitrage, both essentially algebraic constraints on the valuation map from a security to its price. The discussion is framed in terms of observables, the securities, and states, the linear and positive maps from security to price. Founded on the principles of replicability and the absence of arbitr...
Billard, Yannael; Julien, Emmanuel; Blaisonneau, Laurent; Streiff, Frederic; Padilla, Sylvie; Benazzi, Eric; Domergue, Bruno; Fraysse, Sebastien; Gaussens, Jean-Pierre; Packeu, Paris; Bodino, Didier; Randimbivololona, Prisca; Verbbrughe, Gregory; Bissonnier, Alain; Dantec, Caroline
Based on in-depth interviews with decision makers and experts belonging to energy consuming industrial groups, or involved in technological offer or in financing, this study addressed the issue of energy efficiency in the industrial sector, and of its financing. Interviewed persons represented 11 large companies, 5 medium-sized companies, and 14 industrial sectors, and 3 main professional profiles (from technical to financial). The authors thus explored current financing models implemented to finance energy efficiency, by analysing existing decision-making processes, brakes on energy efficiency in industry, levers favourable to energy efficiency in industry, operational and functional organisations addressing issues related to energy efficiency, the risk management policy implemented for the assessment and follow-up of investments in energy efficiency, and existing and envisaged financial packages to make these investments possible. As far as financing is concerned, the authors analyse present practices, difficulties faced, good and repeatable practices, and discuss some lines of thought to mobilise actors in order to structure and promote energy efficiency in industrial projects, to reduce the risk for an easier financing of such projects, to structure financing tools, to promote incentive taxes and aids