How federalism shapes public health financing, policy, and program options.

Science.gov (United States)

Ogden, Lydia L

2012-01-01

In the United States, fiscal and functional federalism strongly shape public health policy and programs. Federalism has implications for public health practice: it molds financing and disbursement options, including funding formulas, which affect allocations and program goals, and shapes how funding decisions are operationalized in a political context. This article explores how American federalism, both fiscal and functional, structures public health funding, policy, and program options, investigating the effects of intergovernmental transfers on public health finance and programs.

OPTIMIZATION OF FINANCING PUBLIC HIGHER EDUCATION INSTITUTIONS IN UKRAINE

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Z. Varnaliy

2017-09-01

Full Text Available The paper considers the ways to optimize financing public higher education institutions of Ukraine. Public higher education institutions acutely feel the lack of financial resources. The study describes that it is necessary to reform the models, methods and forms of financing higher education institutions. The paper explains the impact of autonomy of higher education institutions on their development. The autonomy level of university determines the possibilities for diversification from additional sources. The results found that more autonomy of higher education institutions will allow them effectively generate and use financial resources. The review outlines the diversification of financial resources public universities. One of the key factors of the university success is to implement the diversification strategy into the overall academic strategy and mission of the higher education institution. The analysis recommends the performance-based funding system and public higher education institutions achieve certain performance indicators. The performance-based funding system will promote higher competitiveness of education institutions and improve the quality of higher education in general. The conclusions suggest the development trends of financing public higher education institutions of Ukraine.

Impact of Tax Relief on Public Finance

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Bikas Egidijus

2016-12-01

Full Text Available Tax reliefs are optional, but a very important element of the taxation system. This element is used for different purposes by a country’s government institutions. Tax reliefs are a form of tax expenditure that helps to reduce budget revenues. Tax reliefs influence individual and corporate financial behaviour and can have positive or negative effects on the economic and social factors. In the last few years, expansion of tax relief has attracted worldwide attention because of the fact that, after the global financial crisis, many countries are still suffering from fiscal deficits, and expansion of tax relief has not contributed to solving this problem. Tax reliefs are presupposed to be a fiscal policy tool of significance in various subsystems of public finances. The main aim of this article is to examine the impact of personal income tax reliefs on Lithuanian public finances. To achieve this aim, statistical information was systemized; Monte Carlo method was used to group data by horizontal rows and logical links analysed, which helped to evaluate the influence of tax reliefs on public finances. In the simulations, the Monte Carlo method helped to simulate random samples, which were then examined by adapting the conclusions of the theory of probability and mathematical statistics methods.

Parties heed (with caution): Public knowledge of and attitudes towards party finance in Britain.

Science.gov (United States)

vanHeerde-Hudson, Jennifer; Fisher, Justin

2013-01-01

Despite comprehensive reform ( Political Parties, Elections and Referendums Act ) and recent review (Phillips Review in 2007) of party finance in Britain, public opinion of party finance remains plagued by perceptions of corruption, undue influence from wealthy donors, carefree and wasteful spending and, more generally, from the perception that there is just 'too much money' in politics. In this article we argue that knowledge of and attitudes to party finance matter, not least because advocates of reform have cited public opinion as evidence for reform. However, because attitudes to party finance are part of a broader attitudinal structure, opinion-led reforms are unlikely to succeed in increasing public confidence. Using data generated from YouGov's online panel (N=2,008), we demonstrate that the public know little of the key provisions regulating party finance and attitudes to party finance can be explained along two underlying dimensions - Anti-Party Finance and Reformers . As such, we consider whether parties and politicians should be freed from the constraints of public opinion in reforming party finance.

[Financing of the scientific publication and protection of the scientific knowledge].

Science.gov (United States)

Oliveira Filho, Renato Santos de; Hochman, Bernardo; Nahas, Fabio Xerfan; Ferreira, Lydia Masako

2005-01-01

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

A study on satisfaction with publicly financed health services in China.

Science.gov (United States)

Zhai, Shaoguo; Wang, Pei; Wang, Anli; Dong, Quanfang; Cai, Jiaoli; Coyte, Peter C

2017-08-28

With implementation of Chinese universal healthcare, the performance of urban and rural residents' healthcare and the degree of satisfaction with publicly financed health services have become a hot issue in assessing health reforms in China. An evaluation model of health services in community and evaluation indexes of health-system performance have been put forward in related researches. This study examines variation in satisfaction with publicly financed health services among urban and rural residents in five Chinese cities and assesses their determinants. The data are derived from a survey of 1198 urban and rural residents from five nationally representative regions concerning their perceptions of satisfaction with China's publicly financed health services. The respondents assessed their degree of satisfaction with publicly financed health services on a 5-point Likert scale. It is a kind of questionaire scale that features the answers for 1-5 points labeled very unsatisfied, unsatisfied, neither unsatisfied nor satisfied, satisfied and very satisfied linking to each factor or variable, where a score of 1 reflects the lowest degree of satisfaction and a score of 5 represents the highest degree. The logistic regression methods are used to identify the variables into its determining components. The overall satisfaction degree representing satisfaction of all factors (variables) is 3.02, which is at the middle level of a 1-5 Likert scale, inferring respondents' neutral attitude to publicly financed health services. According to the correlation test, the factors with characteristic root greater than 0.5 are chosen to take the factor analysis and 12 extracted factors can explain 77.97% of original 18 variables' total variance. Regression analysis based on the survey data finds that health records, vaccinations, pediatric care, elder care, and mental health management are the main factors accounting for degree of satisfaction with publicly financed health services for

Legal Assessment of the Legal Force Exclusion of the 1st Prudential Procedure in the Act on Public Finance

Directory of Open Access Journals (Sweden)

Marcin Tyniewicki

2014-03-01

Full Text Available By the amendment of the Act on Public Finance of 26 July 2013, Polish legislature made a temporary suspension – till the end of 2013 – of the application of the provisions governing the Ist prudential procedure. This procedure has a crucial meaning for reducing the growth of budget deficit and in consequence – reducing public debt growth. In case of such crucial provisions for public finance, any amendments should be carried out in situations really justified and exceptional as well as with careful respecting of principles of proper legislation. In these aspects mentioned amendment rises a number of objections. For example, rapid pace of parliamentary works causes doubts about correctness of the legislative process. Therefore, in this article the author tries to make a legal assessment of the amendment of the Act on Public Finance of 26 July 2013, both from the formal and legal point of view and taking into the consideration the importance of provisions governing the prudential procedure for whole sphere of Polish public finance.

The diversity of regulation and public financing of IVF in Europe and its impact on utilization.

Science.gov (United States)

Berg Brigham, K; Cadier, B; Chevreul, K

2013-03-01

How do the different forms of regulation and public financing of IVF affect utilization in otherwise similar European welfare state systems? Countries with more liberal social eligibility regulations had higher levels of IVF utilization, which diminished as the countries' policies became more restrictive. Europe is a world leader in the development and utilization of IVF, yet surveillance reveals significant differences in uptake among countries which have adopted different approaches to the regulation and and public financing of IVF. A descriptive and comparative analysis of legal restrictions on access to IVF in 13 of the EU15 countries that affirmatively regulate and publicly finance IVF. Using 2009 data from the European Society of Human Reproduction and Embryology study of regulatory frameworks in Europe and additional legislative research, we examined and described restrictions on access to IVF in terms of general eligibility, public financing and the scope of available services. Multiple correspondence analysis was used to identify patterns of regulation and groups of countries with similar regulatory patterns and to explore the effects on utilization of IVF, using data from the most recent European and international IVF monitoring reports. Regulations based on social characteristics of treatment seekers who are not applicable to other medical treatments, including relationship status and sexual orientation, appear to have the greatest impact on utilization. Countries with the most generous public financing schemes tend to restrict access to covered IVF to a greater degree. However, no link could be established between IVF utilization and the manner in which coverage was regulated or the level of public financing. Owing to the lack of data regarding the actual level of public versus private financing of IVF it is impossible to draw conclusions regarding equity of access. Moreover, the regulatory and utilization data were not completely temporally matched in

French public finances at risk?

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Creel Jérôme

2014-01-01

Full Text Available Using descriptive evidence, this paper contributes to the debate on French public finances’ consolidation by examining the long-term sustainability of France’s fiscal position. We trace the historical trends of government’s tax receipts and expenditures. We illustrate that while the level of public expenditure in France is larger than in the Euro Area, its trend is comparable to its neighbours. French net debt is comparable to Eurozone’s while French net wealth remains positive. However, the French tax system is not progressive with only 6% of compulsory levies raised that way, and too complex. The paper then acknowledges the efficient debt management of French authorities. As a conclusion, we see no risk of future unsustainability linked to the nature or the level of current French public finances.

Proposals for the Reform of Constitutional Regulations on Public Finances

OpenAIRE

Tibor András Hetei

2011-01-01

The main purpose of this paper is to make specific proposals in the areas of public finance and the budget process in the context of the reform of the Hungarian Constitution. In preparing the proposals the author has reviewed the prevailing constitutional regulations as well as the relevant practice of the Constitutional Court, and examined and compared the constitutional schemes of European countries. The paper finds that a number of aspects of the constitutional regulation of public finance...

PROJECT BONDS IN FINANCING PUBLIC-PRIVATE PARTNERSHIPS IN UKRAINE

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I. Ovsiannykova

2014-12-01

Full Text Available The theoretical principles concerning the financing of public private partnership' projects are deepened and practical recommendations for improving the procedure of raising funds for projects of public-private partnerships through the use project bonds are substantiated.

Essays in development economics and public finance

NARCIS (Netherlands)

Hoseini, Mohammad

2015-01-01

This dissertation studies a range of topics in development economics and public finance. The first two chapters contain empirical studies on India addressing the impact of financial development on poverty and informality. Using time and state-level variation across Indian states, the first study

Public Finance and Economic Growth. The Case of Holland in the Seventeenth Century

NARCIS (Netherlands)

Gelderblom, O.C.|info:eu-repo/dai/nl/19265473X; Jonker, J.P.B.|info:eu-repo/dai/nl/075034638

2011-01-01

The debate over the institutions that link economic growth to public finance tends to disregard the need for savings to finance growing public debt. In seventeenth-century Holland the structure, size, and issuing rates of the debt were determined by investors’ preferences, wealth accumulation, and

Alternative mechanisms of state public health institutions financing in Ukraine

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Hural, Anastasiya

2011-05-01

Full Text Available BACKGROUND. The main source of state public health institutions financing in Ukraine is budgetary funding. In order to overcome the underfunding, the idea of multichannel health financing was proposed in the late 1990s. The main forms of extrabudgetary financial support of public health institutions in Ukraine are voluntary health insurance, non-profit self-financing, charity and sponsorship. The study aims to deeper understand the nature of alternative financing mechanisms of state public health institutions in Ukraine and peculiarities of their use in practice.METHODS. The proposed study is exploratory. Case-study was selected as research method. Nine unstructured interviews were conducted in six health care facilities that have agreed to participate in the study. All studied facilities were in-patient.RESULTS. The sources of financial revenues of the studied institutions were as follows: reimbursement for treatment of insured patients, reimbursement for treatment of sickness funds members, payments for services (medical examinations, counseling, transportation to the hospital, rental of premises, payment for internship from the students of paid forms of medical education, charitable contributions, contracts with companies, contracts with private clinics based in public institutions’ premises (limited liability companies, private entrepreneurs, sponsorship, grants, gifts, payments for services for foreigners, and in-kind revenues. Major health facilities expenditures were the following: salaries (not covered from extrabudgetary revenues; ranged from 70% to 92% of the funds provided to the institutions from state (municipal, regional budget, energy carriers (partially covered from extrabudgetary funds, patients nutrition, medicines, materials, household expenditures, reparation of premises, and purchase of equipment (mostly covered from extrabudgetary revenues. In the studied cases, funds raised by alternative funding mechanisms amounted from

THE NECESSITY OF IMPLEMENTING REFORMS IN THE FIELD OF LOCAL PUBLIC FINANCE

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Vezure Oana Sabina

2013-06-01

Full Text Available The difficulties faced by local authorities as a result of the austerity conditions in which they work, the elements inherited from the previous regime, the need for additional resources to optimize public finance to meet the needs, optimally, if possible, citizens, require the design and continue the reform of public finances at the local level that correspond to these requirements. Optimization of the reform process in local public finances depend to a great extent on the use of financial levers of fiscal efficiency, fulfilment of the functions of public finance, the way resources are provided and how their administration for economic and social development. The uneven development of economic weakness of the assembly reflect and are unacceptable because, in their turn, become a source of economic and political instability. Responsibility for ensuring sufficient local revenue must not belong to a large measure, the central authorities, the context in which local authorities should prioritize finding solutions to supplement the local budget and obtain funds from the central budget. At the same time, cannot be intended directions of reform in the field of public administration without taking into account the financial implications reflected in the budgets for each level of Government, pyramid-shaped, from central to local level.

THE CONTROL OVER LOCAL PUBLIC FINANCES IN ROMANIA AND IN OTHER RELEVANT COUNTRIES OF EU

OpenAIRE

NICU MARCU; RALUCA ANTONEAC

2015-01-01

Local public finances are an essential component of public finances together with the public finances of the central state administration. Because, besides the right of local representative bodies to decide on issues of local interest, local autonomy implies the right of communities to constitute and manage their own budgets in order to create an accurate and integrated image of the functionality of various systems of territorial administrative organization, we considered opportun...

Applications of Entropy in Finance: A Review

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Guanqun Tong

2013-11-01

Full Text Available Although the concept of entropy is originated from thermodynamics, its concepts and relevant principles, especially the principles of maximum entropy and minimum cross-entropy, have been extensively applied in finance. In this paper, we review the concepts and principles of entropy, as well as their applications in the field of finance, especially in portfolio selection and asset pricing. Furthermore, we review the effects of the applications of entropy and compare them with other traditional and new methods.

Have Public Finances in the OECD Area Been Sustainable?

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Ferraz Ricardo

2018-03-01

Full Text Available The aim of this article is to test, from an empirical standpoint, the existence of sustainable public finances in the Organisation for Economic Co-operation and Development (OECD area as a whole, over the most recent period of the world economy, 1973-2016. The research methods include not only standard stationarity tests, but also tests, which allow for a structural break. The relevant results of this research are a stationary public budget balance expressed as a percentage of GDP and a debt to GDP ratio that is stationary in first differences. According to the literature, this means that a “necessary and sufficient” condition is fulfilled for proving the existence of a strong sustainability. We hope this research can make a valuable contribution to the debate regarding public finances in the world economy. To obtain other relevant conclusions, additional tests will need to be performed in the future in order to assess which members are contributing to the fiscal sustainability of the OECD aggregate.

Applying Olap Model On Public Finance Management

OpenAIRE

Dorde Pavlovic; Branko Gledovic

2011-01-01

Budget control is derivate from one of the main functions of budget, that aims that the budget is control instrument of acquiring and pending of budget needs. OLAP model represents an instrument that finds its place in the budget planning process, executive phases of budget, accountancy, etc. There is a direct correlation between the OLAP model and public finance management process.

Consequences of fiscal deficit and public debt in financing the public sector

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Tešić Aleksandra

2014-01-01

Full Text Available The aim of this paper is to highlight the important issues of the budget deficit and public debt and their impact on economic growth. This paper considers the twin deficit hypothesis, which argues that there is a strong correlation between the current account deficit for an economy and government budget deficits. In the last ten years, Serbia is faced with a situation of simultaneous fiscal deficit and current account deficit. However, the growth of gross domestic product and the maturity of the debt obligation indicate that the debt burden increases, the weak development of the economy and the debt, and the power of the state and threatened to open debt crisis, the emergence of foreign insolvency. To explore the effects of budget deficits and public debt in macroeconomic relations and aggregates applied the methods of descriptive statistics, and used the official data of the relevant national and international institutions. The main results of the analysis indicate a crisis of public finances, which are accumulated for many years, with a growing budget deficit and the dominant external financing of the budget deficit.

Policy Pathways: Joint Public-Private Approaches for Energy Efficiency Finance

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-09-06

This Policy Pathway outlines, through the experiences and lessons learned from country examples, the critical elements to put in place a public-private partnership to finance energy efficiency. It focuses on three mechanisms - dedicated credit lines, risk guarantees, and energy performance service contracts and presents the planning, implementing, monitoring, and evaluating phases of implemention. Accelerating and scaling up private investment in energy efficiency is crucial to exploit the potential of energy efficiency. However many barriers remain to private investment such as access to capital, uncertainty of future energy prices, transaction costs, perceived higher risk, and lack of knowledge. As part of the IEA 25 Energy Efficiency Policy Recommendations, the IEA recommends that governments support private investment in energy efficiency. A joint public-private approach can use public finance and regulatory policy to support the scaling up of private investment in energy efficiency.

Manufacturing Consent for Privatization in Public Education: The Rise of a Social Finance Network in Canada

Science.gov (United States)

Poole, Wendy; Sen, Vicheth; Fallon, Gerald

2016-01-01

Multiple forms of privatization are emerging in the Canadian public sector, including public-private partnerships. This article focuses on one approach to public-private partnerships called "social finance," and a network of public, private, and not-for-profit organizations that promotes social finance as a means of funding public…

Promoting Sustainable Public Finances in the European Union

DEFF Research Database (Denmark)

Bergman, Michael; Hutchison, Michael M.; Hougaard Jensen, Svend E.

2016-01-01

New indices of fiscal rule strength are constructed and, using a dynamic panel econometric model for 27 EU countries over the period 1990–2012, we assess whether national fiscal rules alone help to promote sustainable public finances in the EU or whether they must be supported by good governance...

To finance the ecological transition: our analyses and proposals. Contribution to the public consultation on the financing of the ecological transition

International Nuclear Information System (INIS)

Azam, Genevieve; Combes, Maxime; Gadrey, Jean; Harribey, Jean-Marie

2014-01-01

The financing of ecological transition is a key issue which conditions the nature of the transition and its ecological efficiency, the acceptability of measures with respect to requirements in terms of social justice, and the sustainability of undertaken actions. This publication is an answer to a public consultation launched by the French government with the publication of a White Paper on these issues. The authors first analyse, discuss and criticise the content of the White Paper. For them, it reduces the approach to a normative one, is based on a decoupling between economic growth and use of resources, propagates a technical-scientific illusion, often indicates selective and incomplete data, and addresses the energy issue through a supply-based approach. In the next part, the authors discuss how transition financing is addressed in the White Paper. In the third part, proposals are made according to three main principles: ecological transition is a social, political, and cultural process which must be supported, financed and implemented at all territorial levels; transition can be financed only if it comes with a strict legal framework which will define what is possible and what is not any longer; financing must be conditioned to results in terms of sobriety and of ecological and social efficiency, including the creation, qualification and sustainability of jobs. A set of programmes is also presented with associated measures on energy efficiency and sobriety, on a fair use of common good, on a re-localisation of activities, and a support of international initiatives. Some proposals are also made regarding financing tools

Local Public Finance Management in the People’s Republic of China: Challenges and Opportunities

OpenAIRE

Asian Development Bank (ADB)

2014-01-01

The People’s Republic of China is a highly decentralized unitary state with local governments having a dominant share of public service delivery responsibility. Local governance is critically linked to a local public finance system that creates incentives and accountability mechanisms. To ensure the policy response, this project focused on the three interrelated areas in local public finance management, i.e., local budgeting, local debt management and local taxation, and produced policy optio...

Public-Privat e Partnership in the System of Regional Healthcare Financing

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Margarita Yur’evna Molchanova

2016-05-01

Full Text Available Healthcare financing reform in the Russian Federation, besides its positive consequences, has led to the emergence of several major organizational and economic problems that hinder the expansion of financing sources for this sphere, which also involves public-private partnership (PPP. The paper highlights the regional specifics of such healthcare projects compared to similar projects of other spheres of the national economy. The author describes the problems of PPP projects implementation in healthcare; they include the insufficiency of substantiation of public-private partnership application in healthcare, and the absence of typical models for establishment of relations between PPP participants. The paper presents the healthcare priorities put forward by the author; these priorities are based on the theory of the life cycle of a service. The author presents her own model for organizing a regional concession, which is the most common form of public-private partnership in healthcare so far. The cluster brings together on a voluntary basis the legally independent organizations that are interested in improving the quality and increasing the accessibility of health services. These can include medical institutions of various forms of ownership located in the region, clinics, facilities, institutions that train healthcare workers, authorities, etc. The author shows that a favorable environment for the formation and implementation of PPP projects can be created under the cluster approach to the organization of healthcare. When establishing the medical cluster, the main task is to organize interaction between all its subjects in the interest of the overall development of healthcare in the region and the implementation of one’s own interests

76 FR 55427 - Horizon Technology Finance Corporation, et al.; Notice of Application

Science.gov (United States)

2011-09-07

.... Applicants: Horizon Technology Finance Corporation (the ``Company''), Horizon Technology Finance Management... Technology Finance Corporation, et al.; Notice of Application August 31, 2011. AGENCY: Securities and... Blass, Branch Chief, at (202) 551-6821 (Division of Investment Management, Office of Investment Company...

FINANCING PUBLIC INSTITUTIONS OF ACADEMIC EDUCATION IN SPAIN

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DRĂGUŞIN CRISTINA-PETRINA

2015-04-01

Full Text Available Currently, Spanish universities meet the educational needs of the students with a wide offer of courses and the opportunity to study at all levels. They appear as an attractive option in the context of the relatively low cost of living compared to other countries in the EU area and under conditions of a tax system controlled by the Government. Starting from the assumption that the financing model of the academic education public institutions represents the foundation of their modernization in the current society based on changes and evolution, in this paper we propose to bring into the light of the concerns of those who are interested, through a persuasive exhibit, the Spanish model and its specific features. To this end, our debate will begin with a description of the Spanish system of academic education under the decentralized model of financing imprint, continuing with the presentation of specific skills in terms of funding on the triptych template: state - autonomous communities - universities. Subsequently, our investigative approach will focus on detailing the tertiary education financing sources: public resources, private and patrimonial revenues. The end of our presentation will be intended for conclusions, through which we aim to advance our vision regarding the investigated problems. In fact, the paper is intended to be a precursor step in carrying out a comparative study between the academic education funding mechanism in Romania and the Spanish one.

Islamic Public Infrastructure Financing: An Analysis of Alternative Financing Instruments with Application in Developing Countries

National Research Council Canada - National Science Library

Islam, Saiful

2004-01-01

.... This financing mixture, however, may lead to fiscal constraints when debt service occurs. If the investment funds are unproductive, then the infrastructure project may not generate sufficient revenue to offset debt service obligations...

Quality of Public Finance and Economic Growth in the Czech Republic

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Irena Szarowská

2016-01-01

Full Text Available Quality of public finances belongs to a key policy challenge as its improvement should lead to a long-term economic growth. The aim of the paper is to investigate if the key channels and tools used by the public finance (structure of revenue system, size of the government and composition of expenditure, level and sustainability of fiscal position affect economic growth in the Czech Republic in the period 1995-2013. The empirical model is based on the methodology of Barro and Sala-i-Martin (2003 and the model of Mankiw et al. (1992 which is adapted to the framework of this study. The results of dynamic regressions suggest that economic growth is affected by public finance variables only partly and traditional sources of economic growth (human capital or openness play bigger role. Provided evidence shows that total tax burden as well as the structure of revenue system (especially implicit tax rates on labour and consumption should be primarily used as tools for maintain macroeconomic objectives. On the contrary, changes in size and composition of expenditure, balance and debt report not statistically significant impact.

Public and private health-care financing with alternate public rationing rules.

Science.gov (United States)

Cuff, Katherine; Hurley, Jeremiah; Mestelman, Stuart; Muller, Andrew; Nuscheler, Robert

2012-02-01

We develop a model to analyze parallel public and private health-care financing under two alternative public sector rationing rules: needs-based rationing and random rationing. Individuals vary in income and severity of illness. There is a limited supply of health-care resources used to treat individuals, causing some individuals to go untreated. Insurers (both public and private) must bid to obtain the necessary health-care resources to treat their beneficiaries. Given individuals' willingnesses-to-pay for private insurance are increasing in income, the introduction of private insurance diverts treatment from relatively poor to relatively rich individuals. Further, the impact of introducing parallel private insurance depends on the rationing mechanism in the public sector. We show that the private health insurance market is smaller when the public sector rations according to need than when allocation is random. Copyright © 2010 John Wiley & Sons, Ltd.

Public Internal Performance Contracting - Managing and financing energy-efficiency measures in public administrations

International Nuclear Information System (INIS)

Irrek, Wolfgang; Thomas, Stefan; Attali, Sophie; Benke, Georg; Borg, Nils; Figorski, Arkadiusz; Filipowicz, Mariusz; Labanca, Nicola; Pindar, Andrew; Ochoa, Amalia

2005-01-01

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

The Public Finances, the Utility of the Taxpayer and the Public Services – towards a New Connecting Model?

Directory of Open Access Journals (Sweden)

Marcel Ioan Bolos

2007-11-01

Full Text Available Public finances from everywhere have followed along the centuries, as it was natural, some periods when they had to accommodate to the needs resulted from the economic and social life. Their mission was not at all a simple one. To conceive the taxes and rates (dues system, to ensure a performing and an efficient budgetary process, to finance some categories of public expenses, to ensure a fiscal decentralization which would not lead to severe interferences within the public field are only a few of the problems of major importance that they had to deal with. And also the challenges that have come upon public finances are not to be neglected. We may bring to mind here the opposed interests of the taxpayer, interested in obtaining a higher level of goods and public services and of the public authorities who, trying to satisfy the needs of taxpayers, have obtained almost all the time a quite high level of taxes and rates (dues. The purpose of this paper is, though, the setting up of these apparently opposed interests in an equation. We have also tried to” measure” the dependence degree of the utility felt by the taxpayer, as a consequence of the growth with one unit of the quantity of public services performed by the authorities.

Internationally Recommended Best Practices in Transportation Financing Public-Private Partnerships (P3s)

DEFF Research Database (Denmark)

Martin, Lawrence; Lawther, Wendell; Hodge, Graeme

2013-01-01

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...... 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...... of the funding necessary to construct new transportation infrastructure and/or rehabilitate existing transportation infrastructure. This study reviews the international experience of national and sub-national governments with transportation financing P3s. The primary purpose of this study is to identify...

Public Education Finance Systems in the United States and Funding Policies for Populations with Special Educational Needs

Science.gov (United States)

Verstegen, Deborah A.

2011-01-01

This research investigates state finance policies for public education using survey methodology. The purpose is to update previous work and the existing knowledge base in the field as well as to provide a compendium of finance and policy options that are used across the states to finance public elementary and secondary schools. Chief state school…

Hydropower projects financing through the public private partnership a future powered by hydro

International Nuclear Information System (INIS)

Oprea, Traian; Teleanu, Mihai; Dobrescu, Dan

2004-01-01

/////In the frame of economy type that characterized Romania before 1990, the infrastructure and public utilities development, from which the hydropower sector is integral part, was ensured from public funds. The power generation belongs to the public services, which make profits on an average or long terms, in the benefit of the society. The demand for these services is increasing because of both economical increasing and the private sector weight in economy increasing. But, the quality increasing of these services needs investments, that is access to the long-term loans. Romanian banks are not prepared for long-run loans, and the international agencies don't have sufficient investment funds for all necessary projects. One of the options is or, could be, the transfer of entirely responsibility for infrastructure in the private sector hands, but this is not feasible in many cases. For this reason the government can choose a middle way realizing a private public partnership for solving the problem of the investment funds. In a general manner, this scenario consists in the fact of appealing to the private sector to finance, build and operate, for a limited period, an infrastructure, power or tourism project, necessary to the development. The impact zone between the public sector interest and private sector interest defined the concept of 'private public partnership' in its multiple alternatives (BOT, BOO, BOOT, ROT, etc.). The first official mentioning of a project in private public development under the name of BOOT 'Build, Own, Operate, Transfer' has been used in Turkey, in 1984, by the prime-minister ever since, Turgut Ozal, as part of a huge development program through the privatization in the power sector, infrastructure and tourism. The 'private public partnership' concept was studied and promoted, beginning with '95 years by the European Community too, with the view of this financing model utilization to the infrastructure projects development. One of the most

The Bibliometric Analysis of The Postgraduate Theses Written on Public Finance in Turkey (2003-2017

Directory of Open Access Journals (Sweden)

Furkan BEŞEL

2017-07-01

Full Text Available This study was conducted for the purpose of examining postgraduate theses in the field of public finance. Council of Higher Education's National Thesis Center database has been analyzed with the technique of examining 1714 undergraduate theses documents conducted in the "Public Finance", "Financial Law" and "Finance and Economics" departments the period of 2003-2017. Postgraduate theses are comparatively analyzed by the topics of types of thesis, distribution according to years, gender distribution of thesis authors, dissertation of thesis authors, consultant distribution, consultant title distribution, jury distribution, permission status distribution, minute distribution, partial number distribution, page number averages, the most frequently used words in the headline and abstracts, the distribution of content and methods. It is aimed that this research will lead researchers to determine the content, shape and elements of study of graduate theses to be carried out in future field of public finance.

The sustainability of the Italian public finances: an overview

OpenAIRE

Salustri, Andrea

2013-01-01

The Italian international reputation in mainly related to the high level of its public debt. During the Great Recession, this fact, associated to the stagnation of productivity, raised serious doubts on its economic and financial sustainability. The doubts are legitimated also by the fact that Italy is a net borrower of capitals from abroad, as its Net International Investment Position (NIIP) is negative. The statistical analysis of the Italian public finances suggests how the deep causes of ...

Diversification of the possible sources of financing public secondary ...

African Journals Online (AJOL)

Education is the most imponant factor of development. The success of public secondary school education is hinged on adequate financing. It is with funds that physical facilities are set up and maintained, equipment procured, goods and services provided and manpower employed and maintained. It is clear that the funding ...

Public School Finance Problems in Texas. An Interim Report.

Science.gov (United States)

Texas Research League, Austin.

The U.S. District Court ruling in Rodriguez vs San Antonio Independent School District, which struck down Texas' school finance system as inequitable and unconstitutional, provided the impetus for publishing this interim report. The report documents the growing cost of State-supported public school programs--the primary concern prior to the…

42 CFR 413.149 - Depreciation: Allowance for depreciation on assets financed with Federal or public funds.

Science.gov (United States)

2010-10-01

... 42 Public Health 2 2010-10-01 2010-10-01 false Depreciation: Allowance for depreciation on assets... SKILLED NURSING FACILITIES Capital-Related Costs § 413.149 Depreciation: Allowance for depreciation on assets financed with Federal or public funds. (a) Principle. Depreciation is allowed on assets financed...

Waterloo: a Godsend for French Public Finances?

OpenAIRE

Oosterlinck, Kim; Ureche-Rangau, Loredana; Vaslin, Jacques-Marie

2013-01-01

Following Waterloo, managing French public finances represented a daunting task. Defeated France had lost a substantial part of its population and territory. The country was partially occupied and France was to pay huge amounts as reparations to the victors. Furthermore, France’s reputation had been tarnished by several defaults on its debt in the preceding decades. Despite all these elements, in the ten years between 1815 and 1825, not only did France manage to place a huge amount of debt on...

Managing Public Finance and Procurement in Fragile and Conflicted Settings

OpenAIRE

Porter, Doug; Andrews, Matt; Turkewitz, Joel; Wescotttz, Clay

2011-01-01

Discusses ways to enhance the incentives for elites to invest political capital in achieving (1) functional results through the formal public finance management (PFM) system; (2) the effectiveness of agencies responsible for services and regulating activities; and (3) better performance of civil service officials. Using the Public Expenditure and Financial Accountability (PEFA) Performance Measurement Framework, countries affected by conflict and fragility can be compared with non-fragile poo...

Terminological and Definitional Problems of Deficit and Debt in the Polish and EU Law of Public Finance

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Ewa Lotko

2016-06-01

Full Text Available In the Polish and the EU public finances law there are serious terminological difficulties concerning the deficit and the debt. They arise first from the terminological chaos in this field and second from the parallel application of the EU and the Polish methodology of calculating of deficit and debt. Thus, the paper aims to explain the terminological and definitional problems of deficit and debt in the public finances law using unobtrusive research consisting of the detailed analysis of the Polish and EU legislation. Although there is no doubt that it would be desirable to order the applied terms, in the current legal situation, it would be extremely difficult, as it would require the changes to the Constitution, laws, and modification of translations of UE acts. The solution to the problem, presenting additional advantages, could consist of full transition to the EU methodology by the renouncement from the Polish methodology.

Financing end-use solar technologies in a restructured electricity industry: Comparing the cost of public policies

International Nuclear Information System (INIS)

Jones, E.; Eto, J.

1997-09-01

Renewable energy technologies are capital intensive. Successful public policies for promoting renewable energy must address the significant resources needed to finance them. Public policies to support financing for renewable energy technologies must pay special attention to interactions with federal, state, and local taxes. These interactions are important because they can dramatically increase or decrease the effectiveness of a policy, and they determine the total cost of a policy to society as a whole. This report describes a comparative analysis of the cost of public policies to support financing for two end-use solar technologies: residential solar domestic hot water heating (SDHW) and residential rooftop photovoltaic (PV) systems. The analysis focuses on the cost of the technologies under five different ownership and financing scenarios. Four scenarios involve leasing the technologies to homeowners in return for a payment that is determined by the financing requirements of each form of ownership. For each scenario, the authors examine nine public policies that might be used to lower the cost of these technologies: investment tax credits (federal and state), production tax credits (federal and state), production incentives, low-interest loans, grants (taxable and two types of nontaxable), direct customer payments, property and sales tax reductions, and accelerated depreciation

Between Public - Private Partnerships and public finance in the public infrastructure sector: The water and sanitation sector in Albania

Directory of Open Access Journals (Sweden)

Fjona Zeneli

2017-03-01

Full Text Available It’s known in the literature that public-private partnerships (PPPs are one the main instruments that permit private collaboration in projects that are public otherwise. It’s also clear that their implementation is different depending on the rules of the countries, their market level of acceptance etc. The first objective of this paper is to revise PPPs projects in the water sector in Albania, seen in the context of alternative financing ways for joint-stock companies of Albanian water sector, due to the nature of the market (a developing emerging market, in the context of bad financial times after 2008 (the start of the international financial crisis. The second objective is to describe the development of the Albanian legislation for management contracts introduced for the first time in the waters and sanitation sector in 2004 and privatization practices in public sector. The main conclusion is that in the developing markets creating possibilities for private sector participation in the infrastructure public services (especially in the drinking water and sanitation sector will be seen with skepticism because of failed previous privatization practices or the sensitivity degree of the water sector related to the penetration level of private factor in the sector. Public finance will be explored as a convenient alternative.

FINANCING POLICIES OF CROATIAN PUBLICLY LISTED FIRMS

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Mihaela Grubisic Seba

2013-06-01

Full Text Available Croatia is a typical bank-based transition economy whose capital market has been primarily used for secondary trading purposes since its re-establishment in 1990s. Except for a couple of exceptions, public offers of shares and corporate bonds have been rather rate. Private offerings of shares and short-term debt have been more frequent. However, due to secondary debt market illiquidity, the debt issues are signed up and either held until maturity or renewal, or they are traded exclusively between the institutional investors.This paper provides evidence from the field on financing preferences of Croatian public companies regarding seasoned equity and corporate debt issuance. It questiones why public offerings of corporate securities in non-financial sector after initial, mostly mandatory shares’ listing have been rare and whether making decisions on securities’ offers depend on other financial instruments’ sufficiency, costs of issunace or previous experience of companies in collecting funds in the capital market.

THE ACCOUNTING INSTRUMENTATION OF THE FINANCING THROUGH THE OPERATIONAL PROGRAMS IN CASE OF PUBLIC INSTITUTIONS OF ACADEMIC EDUCATION

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DRĂGUŞIN CRISTINA-PETRINA

2016-02-01

Full Text Available Nowadays in Romania, projects financed from nonrefundable external funds post-accession are an important additional source of funding for public institutions of academic education in the somber context of the budgetary underfunding and under the significant decrease in the number of the students that are paying tuition fees. In these circumstances, this paper focuses on the accounting codification and instrumentation of the operations afferent to the projects financed from structural funds, materializing into a pragmatic approach in which we aim to present the accounting reflection of the specific accounting operations in the case of the University of Craiova, as public beneficiary of post-accession external grants, based on the principle of expenses reimbursement. In order to achieve our desideration, we shall consider issues related to the interpretation of the applicable referential in full correlation with the practice size in the context of the accounting capitalization of the financial allocations facilitated by the contracts signed between the public institutions of higher education and the pan-European financier.

75 FR 71744 - Fifth Street Finance Corp., et al.; Notice of Application

Science.gov (United States)

2010-11-24

... Street Finance Corp., et al.; Notice of Application November 18, 2010. AGENCY: Securities and Exchange... Street Finance Corp. (``Fifth Street''), Fifth Street Management LLC, Fifth Street Mezzanine Partners IV... regulated as a business development company (``BDC'') under the Act. Fifth Street is a specialty finance...

Financing Preference Behaviour for Private Finance Initiative (PFI Projects

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Yati Md Lasa

2016-01-01

Full Text Available Project Financing Initiative (PFI projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.

Promoting sustainable public finances in the European Union

DEFF Research Database (Denmark)

Bergman, Ulf Michael; Hutchison, Michael M.; Jensen, Svend E. Hougaard

2016-01-01

New indices of fiscal rule strength are constructed and, using a dynamic panel econometric model for 27 EU countries over the period 1990–2012, we assess whether national fiscal rules alone help to promote sustainable public finances in the EU or whether they must be supported by good governance...... to implementation of fiscal programs. Supranational rules, however, do not affect the effectiveness of national fiscal rules in reducing the deficit bias. Our results are robust to alternative estimation methods and endogeneity assumptions....

Initial Public Offering – Finance Source of Stock

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Sorin Claudiu Radu

2013-10-01

Full Text Available Capital market offers a wide range of options for financing companies, which can be tailored to meet their exact needs. Thus, they have the opportunity of primary security sale (shares and bonds on the stock exchange, which may take place through a tender, in which case the financial instruments issued by a company are underwritten at the date of issue, or through a secondary offer, in which case they are issued and offered for sale by the issuer. If the public sale offer focuses on shares and aims at transforming the issuing company into a public one, then it bears the name of IPO (Initial Public Offering. The present work aims for the evolution of IPO trends on the European market in the aftermath of the global crisis outbreak. The market of IPO carried out by BSE is also analyzed herewith.

Public support for social financing of health care in Switzerland.

Science.gov (United States)

Perneger, Thomas V; Hudelson, Patricia M

2005-01-01

The purpose of this study was to identify factors associated with the public's preference for financing health care according to people's ability to pay. The authors compared voters' support in 26 Swiss cantons for a legislative proposal to replace regionally rated health insurance premiums (current system) with premiums proportional to income and wealth, and co-financed through the value added tax. The vote took place in May 2003, and the initiative was rejected, with only 27 percent of support nationwide. However, support varied more than threefold, from 13 to 44 percent, among cantons. In multivariate analysis, support was most strongly correlated with the approval rate of the 1994 law on health insurance, which strengthened solidarity between the sick and the healthy. More modest associations were seen between support for the initiative and the health insurance premium of 2003, and proportions of elderly and urban residents in the population. Hence support for more social financing of health care was best explained by past preference for a social health insurance system in the local community.

Model application of Murabahah financing acknowledgement statement of Sharia accounting standard No 59 Year 2002

Science.gov (United States)

Muda, Iskandar; Panjaitan, Rohdearni; Erlina; Ginting, Syafruddin; Maksum, Azhar; Abubakar

2018-03-01

The purpose of this research is to observe murabahah financing implantation model. Observations were made on one of the sharia banks going public in Indonesia. Form of implementation of such implementation in the form of financing given the exact facilities and maximum financing, then the provision of financing should be adjusted to the type, business conditions and business plans prospective mudharib. If the financing provided is too low with the mudharib requirement not reaching the target and the financing is not refundable.

Financing renewable energies. Windows for new opportunities

International Nuclear Information System (INIS)

Pontenagel, I.

1999-01-01

Renewable Energies are recognized as indispensable for a sustainable energy economy. Their progressive market introduction, however, depend very much on their economic competitiveness. A wide range of Renewable Energies are already cost competitive today. But still a shortage of information as well as mental and structural barriers are hindering their rapid market penetration. This volume publishes the results of two conferences, held by EUROSOLAR and dealing with the problems of Financing Renewable Energies. In five chapters - Banking Concepts for Financing Renewable Energies - Public Frameworks for Renewable Energy Market Introduction - Financing Renewable Energies in Developing Countries - Green Power - Market Structures and Players - Renewable Energy Financing Applications a variety of new concepts and fresh ideas are presented. (orig.)

Do Sound Public Finances Require Fiscal Rules or Is Market Pressure Enough?

DEFF Research Database (Denmark)

Bergman, Michael; Hutchison, Michael M.; Hougaard Jensen, Svend E.

This paper discusses the balance between market pressure and fiscal rules in order to keep public finances on a sustainable path. We provide empirical evidence on market assessments of sovereign default risk to economic news, announcements of national austerity programs, EU programs designed...... to support government finances, and banking fragility emanating from several countries in the euro area affected by the European sovereign debt crisis. We find that, in general, the quality of market signals is an insufficient indicator alone to accurately guide the conduct of fiscal policy, particularly...

Do Sound Public Finances Require Fiscal Rules Or Is Market Pressure Enough?

DEFF Research Database (Denmark)

Bergman, Ulf Michael; Hutchison, Michael; Jensen, Svend E. Hougaard

This paper discusses the balance between market pressure and fiscal rules in order to keep public finances on a sustainable path. We provide empirical evidence on market assessments of sovereign default risk to economic news, announcements of national austerity programs, EU programs designed...... to support government finances, and banking fragility emanating from several countries in the euro area affected by the European sovereign debt crisis. We find that, in general, the quality of market signals is an insufficient indicator alone to accurately guide the conduct of fiscal policy, particularly...

Productivity losses and public finance burden attributable to breast cancer in Poland, 2010-2014.

Science.gov (United States)

Łyszczarz, Błażej; Nojszewska, Ewelina

2017-10-10

Apart from the health and social burden of the disease, breast cancer (BC) has important economic implications for the sick, health system and whole economy. There has been a growing interest in the economic aspects of breast cancer and analyses of the disease costs seem to be the most explored topic. However, the results from these studies are hardly comparable. With this study we aim to contribute to the field by providing estimates of productivity losses and public finance burden attributable to BC in Poland. We used retrospective prevalence-based top-down approach to estimate the productivity losses (indirect costs) of BC in Poland in the period 2010-2014. Human capital method (HCM) and societal perspective were used to estimate the costs of: absenteeism of the sick and caregivers, presenteeism of the sick and caregivers, disability, and premature mortality. We also used figures illustrating public finance burden attributable to the disease. Deterministic sensitivity analysis was performed to assess the stability of the estimates. A variety of data sources were used with the social insurance system and Polish National Cancer Registry being the most important ones. Productivity losses associated with BC in Poland were €583.7 million in 2010 and they increased to €699.7 million in 2014. Throughout the period these costs accounted for 0.162-0.171% of GDP, an equivalent of 62,531-65,816 per capita GDP. Losses attributable to disability and premature mortality proved to be the major cost drivers with 27.6%-30.6% and 22.0%-24.6% of the total costs respectively. The costs due to caregivers' presenteeism were negligible (0.1% of total costs). Public finance expenditure for social insurance benefits to BC sufferers ranged from €50.2 million (2010) to €56.6 million (2014), an equivalent of 0.72-0.79% of expenditures for all diseases. Potential losses in public finance revenues accounted for €173.9 million in 2010 and €211.0 million in 2014. Sensitivity

Private Placement Debt Financing for Public Entities

Science.gov (United States)

Holman, Lance S.

2010-01-01

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…

Financing and cost-effectiveness analysis of public-private partnerships: provision of tuberculosis treatment in South Africa

Directory of Open Access Journals (Sweden)

Kumaranayake Lilani

2006-06-01

Full Text Available Abstract Background Public-private partnerships (PPP could be effective in scaling up services. We estimated cost and cost-effectiveness of different PPP arrangements in the provision of tuberculosis (TB treatment, and the financing required for the different models from the perspective of the provincial TB programme, provider, and the patient. Methods Two different models of TB provider partnerships are evaluated, relative to sole public provision: public-private workplace (PWP and public-private non-government (PNP. Cost and effectiveness data were collected at six sites providing directly observed treatment (DOT. Effectiveness for a 12-month cohort of new sputum positive patients was measured using cure and treatment success rates. Provider and patient costs were estimated, and analysed according to sources of financing. Cost-effectiveness is estimated from the perspective of the provider, patient and society in terms of the cost per TB case cured and cost per case successfully treated. Results Cost per case cured was significantly lower in PNP (US $354–446, and comparable between PWP (US $788–979 and public sites (US $700–1000. PPP models could significantly reduce costs to the patient by 64–100%. Relative to pure public sector provision and financing, expansion of PPPs could reduce government financing required per TB patient treated from $609–690 to $130–139 in PNP and $36–46 in PWP. Conclusion There is a strong economic case for expanding PPP in TB treatment and potentially for other types of health services. Where PPPs are tailored to target groups and supported by the public sector, scaling up of effective services could occur at much lower cost than solely relying on public sector models.

Financing Albanian Higher Education: Growth between the Public and Private Sectors

Science.gov (United States)

Pere, Engjell; Minxhozi, Luljeta

2011-01-01

In many countries, reforms in higher education have follow-on effects on social and economic development. This article relates mainly to economic and financial issues regarding the development of higher education. Starting from the notable increase in demand for higher education and the budgetary constraints on public education financing, we argue…

Corporate ownership of the public debt: mapping the new aristocracy of finance

OpenAIRE

Hager, S. B.

2015-01-01

In various writings Karl Marx made references to an ‘aristocracy of finance’ in Western Europe and the United States that dominated ownership of the public debt. Drawing on original research, this article offers the first comprehensive analysis of public debt ownership within the US corporate sector. The research shows that over the past three decades, and especially in the context of the current crisis, a new aristocracy of finance has emerged, as holdings of the public debt have become rapi...

The development plan: the public and public finance Plan de desarrollo: lo público y las finanzas públicas

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Giraldo César

1999-06-01

Full Text Available The development plan takes a traditional approach to public finance which consists of analyzing if financing is sufficient, which is no longer valid since government programs should not necessarily be financed with public resources and undertaken by the State; they could be financed with private resources and undertaken by the private sector. Paradoxically, this is how i t is expressed in' the Plan: "State intervention does not mean that the supply of social services should be exclusively by the State. On the contrary, this Plan considers that this policy should mobilize all classes to participa te in the direction, execution, and evaluation of the resul ts of social programs".El plan de desarrollo adopta un enfoque tradicional de las finanzas publicas que consiste en analizar si el financiamiento es suficiente y que ya no tiene validez puesto que los programas de gobierno no necesariamente deben ser financiados con recursos publicos y acometidos por el estado; pueden ser financiados con recursos privados y acometidos por el sector privado. Paradojicamente, asi lo expresa el plan: "La intervencion del Estado no significa que la oferta de servicios sociales deba ser exclusivamente estatal. Por el contrario, en este plan se considera que esta politica debe movilizar a todos los estamentos para participar en la direccion, ejecucion y evaluacion de resultados de los programas sociales".

Application of Asset-backed Securitization to Finance in Public Rental Housing Project%资产支撑证券化在公共租赁住房项目融资中的应用

Institute of Scientific and Technical Information of China (English)

王海硕; 陈建明

2014-01-01

At present,the construction of indemnificatory apartments in China is facing enormous financial pressure. To address the public rental housing project financing difficulties,this paper has carried on thorough discussion on the application of asset-backed securitization financing model. The paper introduces the concepts and features of asset-backed securitization model and analysis of the feasibility and operation mechanism of public rental housing projects financing in securitization. Combined with the public rental housing project in Jiangning District,the realization of asset-backed securitization is discussed. Studies have shown that asset-backed securitization can effectively solve the funding gap of public rental housing and put forward new ideas for financing problems of indemnificatory apartments.%目前，我国保障性住房建设面临巨大的融资压力。为了解决公共租赁住房项目的融资困境，对资产支撑证券化融资模式的应用进行了深入探讨。详细介绍了资产支撑证券化模式的含义与特征，分析了公共租赁住房项目证券化融资的可行性和运作机制，并结合南京市江宁区公租房项目的具体情况，构想了资产支撑证券化的实现途径。研究表明，资产支撑证券化能够有效解决公共租赁住房项目的资金缺口，为我国保障房建设融资提出了新思路。

Equity in health personnel financing after Universal Coverage: evidence from Thai Ministry of Public Health's hospitals from 2008-2012.

Science.gov (United States)

Ruangratanatrai, Wilailuk; Lertmaharit, Somrat; Hanvoravongchai, Piya

2015-07-18

Shortage and maldistribution of the health workforce is a major problem in the Thai health system. The expansion of healthcare access to achieve universal health coverage placed additional demand on the health system especially on the health workers in the public sector who are the major providers of health services. At the same time, the reform in hospital payment methods resulted in a lower share of funding from the government budgetary system and higher share of revenue from health insurance. This allowed public hospitals more flexibility in hiring additional staff. Financial measures and incentives such as special allowances for non-private practice and additional payments for remote staff have been implemented to attract and retain them. To understand the distributional effect of such change in health workforce financing, this study evaluates the equity in health workforce financing for 838 hospitals under the Ministry of Public Health across all 75 provinces from 2008-2012. Data were collected from routine reports of public hospital financing from the Ministry of Public Health with specific identification on health workforce spending. The components and sources of health workforce financing were descriptively analysed based on the geographic location of the hospitals, their size and the core hospital functions. Inequalities in health workforce financing across provinces were assessed. We calculated the Gini coefficient and concentration index to explore horizontal and vertical inequity in the public sector health workforce financing in Thailand. Separate analyses were carried out for funding from government budget and funding from hospital revenue to understand the difference between the two financial sources. Health workforce financing accounted for about half of all hospital non-capital expenses in 2012, about a 30 % increase from the level of spending in 2008. Almost one third of the workforce financing came from hospital revenue, an increase from only one

Importance of public warehouse system for financing agribusiness sector

Directory of Open Access Journals (Sweden)

Zakić Vladimir

2014-01-01

Full Text Available The aim of this study was to determine the economic viability of the use of warehouse receipts for the storage of wheat and corn, based on the analysis of trends in product prices, storage costs in public warehouses and interest rate of loans against warehouse receipts. Agricultural producers are urged to sell grain at the harvest time when the price of agricultural products is usually lowest, mostly because of their needs for financial sources. Instead of selling products, farmers can store them in the public warehouses and use short-time financing by lending against warehouse receipt with usually lowest interest rate. In following months, farmers can sell products at higher price and repay short-term loan. This study showed that strategy of using public warehouses and postponing the sale of grains after harvest is profitable strategy for agricultural producers.

75 FR 38158 - Korea Finance Corporation; Notice of Application

Science.gov (United States)

2010-07-01

...Summary of Application: Applicant, a policy finance institution established by the government of the Republic of Korea (the ``Korean Government'') requests an order exempting it from all provisions of the Act in connection with the offer and sale of its debt securities in the United States (``Debt Securities'').

Relationship finance, market finance and endogenous business cycles

OpenAIRE

Deidda, Luca Gabriele; Fattouh, Bassam

2010-01-01

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...

Public School Finance Assessment Project Aligned with ELCC Standards

Science.gov (United States)

Risen, D. Michael

2008-01-01

This is a detailed description of an assessment that can be used in a graduate level of study in the area of public school finance. This has been approved by NCATE as meeting all of the stipulated ELCC standards for which it is designed (1.1, 1.2, 1.3, 1.4, 1.5, 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 4.1, 4.2, 4.3, 5.1, 5.2, 5.3.). This course of…

75 FR 21146 - Public Input on Reform of the Housing Finance System

Science.gov (United States)

2010-04-22

...Consistent with the Obama Administration's commitment to openness and transparency and the President's Open Government Initiative, the Department of the Treasury (Treasury) and the Department of Housing and Urban Development (HUD) seek public input on establishing a more stable and sound housing finance system.

Analysis of Financing Model of Public Rental Construction%公租房建设融资模式研究

Institute of Scientific and Technical Information of China (English)

吕明革

2014-01-01

The construction of public rental needs much money and usually takes a long time , thus it can not only rely on limited financial investment , so financing becomes a bottleneck restricting the construction of public rental .At present, bank loans and project financing are two main financing models of the public rental , while PPP, REITs and other ways are rarely used .This paper introduces the traditional financing methods , focusing on the PPP and REITs . The paper summarizes the pros and cons of nine financing models and concludes that bank loans , project financing , BT, BOT, PPP, TOT, bonds, public rental REITs and ABS can pave the way for opening up social capital into the field of investment and construction of public rental channel .It is suggested that China raise housing finance though multiple channels , and seek to comply with China's specific situation of public rental financing model .%公租房建设资金需求量大、占用时间长，依靠有限的财政投入难以满足，因此，公租房融资成为制约公租房建设的瓶颈。目前，公租房融资主要使用银行贷款、项目融资等方式，而其他市场化融资方式使用较少。为拓宽公租房融资渠道，应积极引入并大力发展REITs、PPP等模式。其中，REITs模式的市场化程度较高，专业性更强，要求有完善的法律体系作保障；而PPP模式强调在政府引导下引入私人资本，以分担风险和成本。总体来说，REITs、PPP都将是中国公租房融资有益尝试。

A MODEL OF ECONOMIC GROWTH WITH PUBLIC FINANCE: DYNAMICS AND ANALYTIC SOLUTION

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Oliviero Antonio Carboni

2013-01-01

Full Text Available This paper studies the equilibrium dynamics of a growth model with public finance where two different allocations of public resources are considered. The model simultaneously determines the optimal shares of consumption, capital accumulation, taxes and composition of the two different public expenditures which maximize a representative household's lifetime utilities in a centralized economy. The analysis supplies a closed form solution. Moreover, with one restriction on the parameters ( we fully determine the solutions path for all variables of the model and determine the conditions for balanced growth.

Portugal and the Global Financial Crisis – short-sighted politics, deteriorating public finances and the bailout imperative

OpenAIRE

Paulo T. Pereira,; Lara Wemans,

2012-01-01

The aim of this paper is twofold. On the one hand to explain the institutional, economic and political foundations of the Portuguese bailout in April 2011. On the other hand, to clarify the impact of the global financial crisis (GFC) in Portuguese public finances, and the interaction between domestic fiscal policy and monitoring and recommendations from the European Commission (EC) and the European Council (ECo). A long run perspective (1974-2011) on management of public finances ...

Financing energy projects: experience of the International Finance Corporation

International Nuclear Information System (INIS)

Bond, Gary; Carter, Laurence

1995-01-01

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)

The Student Equity Effects of the Public School Finance System in Louisiana.

Science.gov (United States)

Geske, Terry G.; LaCost, Barbara Y.

1990-01-01

Investigates the student equity effects of Louisiana's public school finance program in terms of fiscal neutrality and revenue inequality over a nine-year period, using regression techniques. Overall, Louisiana's system became less equal over the time period examined, while revenue distribution became more equal. Includes 35 references. (MLH)

Financing U.S. Renewable Energy Projects Through Public Capital Vehicles: Qualitative and Quantitative Benefits

Energy Technology Data Exchange (ETDEWEB)

Mendelsohn, M.; Feldman, D.

2013-04-01

This paper explores the possibility of financing renewable energy projects through raising capital in the public markets. It gives an overview of the size, structure, and benefits of public capital markets, as well as showing how renewable energy projects might take advantage of this source of new funds to lower the cost of electricity.

JYT - Publicly financed nuclear waste management research programme

International Nuclear Information System (INIS)

Vuori, S.

1992-07-01

The nuclear waste management research in Finland is funded both by the state and the utilities (represented in cooperation by the Nuclear Waste Commission of the Finnish power companies). A coordinated research programme (JYT) comprising the publicly financed waste management studies was started in 1989 and continues until 1993. The utilities continue to carry out a parallel research programme according to their main financial and operational responsibility for nuclear waste management. The research programme covers the following main topic areas: (1) Bedrock characteristics, groundwater and repository, (2) Release and transport of radionuclides, (3) Performance and safety assessment of repositories, and (4) Waste management technology and costs

JYT - Publicly financed nuclear waste management research programme

International Nuclear Information System (INIS)

Vuori, S.

1993-06-01

The nuclear waste management research in Finland is funded both by the state and the utilities (represented in cooperation by the Nuclear Waste Commission of the Finnish power companies). A coordinated research programme (JYT) comprising the publicly financed waste management studies was started in 1989 and continues until 1993. The utilities continue to carry out a parallel research programme according to their main financial and operational responsibility for nuclear waste management. The research programme covers the following main topic areas: (1) Bedrock characteristics, groundwater and repository, (2) Release and transport of radionuclides, (3) Performance and safety assessment of repositories, and (4) Waste management technology and costs

JYT - Publicly financed nuclear waste management research programme

International Nuclear Information System (INIS)

Vuori, S.

1991-07-01

The nuclear waste management research in Finland is funded both by the state and the utilities (represented in cooperation by the Nuclear Waste Commission of the Finnish power companies). A coordinated research programme (JYT) comprising the publicly financed waste management studies was started in 1989 and continues until 1993. The utilities continue to carry out a parallel research programme according to their main financial and operational responsibility for nuclear waste management. The research programme covers the following main topic areas: (1) Bedrock characteristics, groundwater and repository, (2) Release and transport of radionuclides, (3) Performance and safety assessment of repositories, and (4) Waste management technology and costs

Poland’s Public Finance Convergence with the Euro Area

Directory of Open Access Journals (Sweden)

Elżbieta Kawecka-Wyrzykowska

2013-06-01

Full Text Available Situation of Poland's public finances has been improving. Helped by solid economic growth in 2011, Poland has reduced its budget deficit in line with the Commission's recommendations. Contrary to earlier forecasts, in 2012 it was slightly above the ceiling of 3% of GDP. It should be further reduced to reach in 2015 the level of 1% of GDP in terms structural deficit. The slowdown of the economy in 2012 and probably in 2013 will not make this task easy, however.Public debt has risen steadily over the past few years but level has been in recent times still well below the 60% of GDP ceiling.The national reform programme and the convergence programme were adopted by Poland’s Council of Ministers on 25 April 2012. The convergence programme outlined in an integrated manner the fiscal consolidation efforts, the key structural reforms and the reforms that underpin macroeconomic stabilisation.In the medium to long term, Poland is faced with a number of challenges. A very low labour force participation rate, in particular of women, and the poor quality of vocational training and education are major concerns given an ageing population. The low level of public and private R&D spending, weak links between science and industry and the poor innovation performance call for improvements.Apart from programme of national reforms, crucial for future sustained economic growth and good performance of public finances, an additional factor stimulating activities towards fiscal improvement should be Poland’s participation in a strengthened economic governance architecture recently introduced in the EU.Euro adoption remains an important goal of Polish government. The uncertain situation in the euro zone has, however, postponed adoption of a clear timetable of joining the euro zone. The government decided that an additional condition to join the euro zone, apart from meeting the nominal convergence criteria (and legal conditions not discussed here, is stabilisation of

INVESTMENT FINANCING THROUGH THE "PROJECT FINANCE"

OpenAIRE

Molina Arenaza, Hércules; Del Carpio Gallegos, Javier

2014-01-01

This article analizes and compares the various aspects related to the "Project Finance" technique using projects financing in the Capital Market, both in developed countries and in developing countries. Likewise, the application's technique is illustrated by Antamina mining enterprise. El artículo analiza y compara los diferentes aspectos relacionados con la técnica del Project finance usado en el financiamiento de proyectos en el mercado de capitales, tanto en los países desarrollados com...

Private Financing of Public Goods by Means of 'Eco-Goods' Schemes

DEFF Research Database (Denmark)

Ueda, Yoshifumi; Wegener, Andreas; Svendsen, Gert Tinggaard

2010-01-01

With a view to applying to the problem of collective action for the global commons, we analyze a three-stage game model where public goods are provided by the costly leadership of a social entrepreneur for undertaking 'eco-goods' scheme. We derive (i) the conclusion that the social entrepreneur can...... finance more for the collective action under not-for-profit constraint than without the constraint, and (ii) the conditions under which he prefers the not-for-profit constraint on a rational basis. The main results are applied to some social experiments on the natural common-pools of a public-goods nature...

Royalty financing for the oil and gas industry

International Nuclear Information System (INIS)

Read, F. M. D.

1998-01-01

Key concepts in royalty financing for the oil and gas industry are described. The basic significance of royalty financing for a public company is that financing is 'off balance sheet', and can be used to achieve objectives that neither debt, equity, nor outright sale of assets or farm-outs can accomplish. Royalty financing can provide increased available capital or debt reduction while maintaining the full gross share of reserve and production volumes on the books. This paper provides an overview of the field of royalty financing, with an appreciation of the benefits, reviews each of the financial alternatives (debt, equity, farmout and or sale of assets to reduce capital requirements), and provides examples of specific application of royalty financing. It is claimed that this type of financing, which has been available to the mining sector for some time, is a useful alternative to other financing instruments to acquire new oil and gas assets, to develop new areas, to implement enhanced recovery projects or to carry out mergers and acquisitions. Used judiciously, royalty financing can provide significant benefits to both the working interest owner and his shareholders, as well as the royalty company

Private sector finance for adaptation

NARCIS (Netherlands)

Atteridge, A.; Pauw, W.P.; Terpstra, P.; Bedini, F.; Bosi, L; Costella, C.

2016-01-01

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

Who benefits from public health financing in Zimbabwe? Towards universal health coverage.

Science.gov (United States)

Shamu, Shepherd; January, James; Rusakaniko, Simbarashe

2017-09-01

Zimbabwe's public health financing model is mostly hospital-based. Financing generally follows the bigger and higher-level hospitals at the expense of smaller, lower-level ones. While this has tended to perpetuate inequalities, the pattern of healthcare services utilisation and benefits on different levels of care and across different socioeconomic groups remains unclear. The purpose of this study was therefore to assess the utilisation of healthcare services and benefits at different levels of care by different socioeconomic groups. We conducted secondary data analysis of the 2010 National Health Accounts survey, which had 7084 households made up of 26,392 individual observations. Results showed significant utilisation of health services by poorer households at the district level (concentration index of -0.13 [CI:-0.2 to -0.06; p < .05]), but with mission hospitals showing equitable utilisation by both groups. Provincial and higher levels showed greater utilisation by richer households (0.19; CI: 0.1-0.29; p < .05). The overall results showed that richer households benefited significantly more from public health funds than poorer households (0.26; CI: 0.2-0.4; p < .05). Richer households disproportionately benefited from public health subsidies overall, particularly at secondary and tertiary levels, which receive more funding and provide a higher level of care.

Financial decentralization and its impact on local finance system of Ukraine

Directory of Open Access Journals (Sweden)

I. V. Mizina

2016-07-01

Full Text Available The article researches the influence of the process of financial decentralization system on local finance system in Ukraine. Author determined the basic transformations of local finances system as a result of reform measures and ways to adapt to new conditions. The basic characteristics of the changing role of public authorities and local governments, their relationships and relationships in the system, strengthening public participation in decision­making of local importance are revealed. The main requirements of local finances taking into account the impact of fiscal decentralization processes are formulated. They include the formation of an effective and sustainable framework for the mobilization of financial resources within each territorial community; providing sufficient resources for sustainable and dynamic development at the local level; improve management of local finances with the application process and project approaches. An action plan to change the system of local finance Ukraine in the context of fiscal decentralization on a 5­year period is proposed. The action plan envisages normalization of regulatory provisions in the area of local finance, training local government officials, development resources, monitoring and evaluating the effectiveness of the current system of local finance.

STRENGTHENING THE SUSTAINABILITY OF PUBLIC FINANCES BY MEANS OF FINANCIAL LAW FOCUSED ON THE CONTROL AND AUDIT EXERCISE

Directory of Open Access Journals (Sweden)

Ionel BOSTAN

2016-02-01

Full Text Available The activity to prevent embrittlement sustainability of public finances should manifest itself permanently, regardless of economic circumstances - national or European. This, more so as it was set by the Stability and Growth Pact (SGP, which introduces new rules on fiscal policy. Regulations and exercise adequate of financial control and public audit are intended to give certain guarantees on landing approach this topic (most on enhancing sustainability of public finances. Therefore, our approach aims to reveal some aspects of fiscal consolidation by means of financial law focused on exercise fiscal control and public audit. Our references aim the current regulatory of this important organization and functioning rule of law activities and results reported.

To finance the transition

International Nuclear Information System (INIS)

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

2013-01-01

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

Essays in household finance

NARCIS (Netherlands)

Djordjevic, Ljubica

2015-01-01

Household finance is a young and vibrant research field that continuously attracts public attention. There may be very few matters that people care so much about as their personal finance. Recent rise of academic interest in household finance is to a great extent due to households’ more active role

7 CFR Exhibit C to Subpart E of... - FmHA or Its Successor Agency Under Public Law 103-354 Financed Contract

Science.gov (United States)

2010-01-01

... or Its Successor Agency Under Public Law 103-354 Financed Contract To: Area Director, Office of... 7 Agriculture 12 2010-01-01 2010-01-01 false FmHA or Its Successor Agency Under Public Law 103-354 Financed Contract C Exhibit C to Subpart E of Part 1901 Agriculture Regulations of the Department of...

Mixed, private, and public educational financing regimes: economic growth and income inequality effects

Directory of Open Access Journals (Sweden)

Trabelsi Salwa

2017-01-01

Full Text Available The issue of mixed educational financing is rarely evoked in the literature, although the financial contribution of parents in the public educational system can be significant. This paper presents a comparative analysis of the mixed system and public and private ‘extreme’ systems in terms of economic growth and social disparity. For developing countries and for heterogeneous individuals, the mixed system is widely preferred. For homogeneous agents the public and private systems cannot lead to better economic performance than the mixed system. The public system always reduces social inequality, in contrast to the mixed and private systems, which generate the same level of inequality.

Indirect costs of diabetes and its impact on the public finance: the case of Poland.

Science.gov (United States)

Torój, Andrzej; Mela, Aneta

2018-02-01

Growing public and private expenditure on healthcare results i.a. from the spreading of chronic diseases. Diabetes belongs to the most frequent ones, beyond neoplasms and cardiological diseases, and hence generates a significant burden for the public finance in terms of the direct costs. However, the economy suffers also from the indirect cost of diabetes that manifests itself in the loss in Gross Domestic Product (GDP) and general government revenues. This paper aims to measure this indirect cost, both in terms of GDP drop (social perspective) and public revenue drop (public finance perspective), in the case of Poland in 2012-2014. We use a modified human capital approach and unique dataset provided by the Social Security institution in Poland and the Polish Central Statistical Office. Diabetes is a substantial and growing burden for the Polish economy. In the years 2012, 2013 and 2014 the indirect cost (output loss) amounted to 1.85 bn USD, 1.94 bn USD and 2.00 bn USD respectively. Estimated indirect cost of diabetes can be a useful input for health technology analyses of drugs or economic impact assessments of public health programmes.

24 CFR 882.405 - Financing.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 882.405 Section 882.405... § 882.405 Financing. (a) Types. Any type of public or private financing may be utilized with the... Contract as security for financing. An Owner may pledge, or offer as security for any loan or obligation...

Impact of intellectual property rights from publicly financed research and development on research alliance governance mode decisions

CSIR Research Space (South Africa)

Staphorst, L

2015-06-01

Full Text Available Recently, demands to generate more economic benefit from publicly financed Research and Development (R&D) in South African has resulted in the enactment of the Technology Innovation Agency (TIA) and the Intellectual Property Rights from Publicly...

Financing schemes increasing energy efficiency and renewable energy use in public and private buildings. Comparative study

International Nuclear Information System (INIS)

2014-03-01

What are the solutions to the municipal budget cuts? How can the cities finance their energy transition? What can we do to make it a driving force to boost the local economy and job creation? What are the new financial cash flows for this new economy? One of the solutions is to rethink financing solutions, and the local authorities that are engaged in energy transition are the best placed to do so. Many cities have voluntarily committed to reducing CO_2 emissions on their territories, notably by increasing energy efficiency and the use of renewable energy sources. Nearly 6,500 cities are committed to the objective to meet and exceed the European Union 20% CO_2 reduction objective by 2020. They have already developed their Baseline Emissions Inventories and Sustainable Energy Action Plans and thus are well aware of the energy flows on their territories, energy saving potential and the cost-effectiveness of the planned measures. The next step is to secure their financing sources and here both the private and public sector play a key role. Governments at all levels (European, national, regional and local), financial institutions, businesses, citizens and other local stakeholders should channel part of their funds to measures that help achieving our common energy and climate goals. Local authorities' role is to motivate and coordinate players on their territory. For its part, the European Union increased the amount allocated to energy efficiency and renewable energy projects in its 2014-2020 budget, giving a signal that a shift towards a low carbon economy is one of its top priorities. This could be a significant boost for local energy transition. However, the European Commission also announced that the EU budget should be spent in a more sustainable way and announced a progressive move from grants to loans and innovative financial instruments, in particular for projects that are viable on the current market. Many front-running Covenant signatories dedicate their human

Public financing of the Medicare program will make its uniform structure increasingly costly to sustain.

Science.gov (United States)

Baicker, Katherine; Shepard, Mark; Skinner, Jonathan

2013-05-01

The US Medicare program consumes an ever-rising share of the federal budget. Although this public spending can produce health and social benefits, raising taxes to finance it comes at the cost of slower economic growth. In this article we describe a model incorporating the benefits of public programs and the cost of tax financing. The model implies that the "one-size-fits-all" Medicare program, with everyone covered by the same insurance policy, will be increasingly difficult to sustain. We show that a Medicare program with guaranteed basic benefits and the option to purchase additional coverage could lead to more unequal health spending but slower growth in taxation, greater overall well-being, and more rapid growth of gross domestic product. Our framework highlights the key trade-offs between Medicare spending and economic prosperity.

Public finance of rotavirus vaccination in India and Ethiopia: an extended cost-effectiveness analysis.

Science.gov (United States)

Verguet, Stéphane; Murphy, Shane; Anderson, Benjamin; Johansson, Kjell Arne; Glass, Roger; Rheingans, Richard

2013-10-01

An estimated 4% of global child deaths (approximately 300,000 deaths) were attributed to rotavirus in 2010. About a third of these deaths occurred in India and Ethiopia. Public finance of rotavirus vaccination in these two countries could substantially decrease child mortality and also reduce rotavirus-related hospitalizations, prevent health-related impoverishment and bring significant cost savings to households. We use a methodology of 'extended cost-effectiveness analysis' (ECEA) to evaluate a hypothetical publicly financed program for rotavirus vaccination in India and Ethiopia. We measure program impact along four dimensions: 1) rotavirus deaths averted; 2) household expenditures averted; 3) financial risk protection afforded; 4) distributional consequences across the wealth strata of the country populations. In India and Ethiopia, the program would lead to a substantial decrease in rotavirus deaths, mainly among the poorer; it would reduce household expenditures across all income groups and it would effectively provide financial risk protection, mostly concentrated among the poorest. Potential indirect benefits of vaccination (herd immunity) would increase program benefits among all income groups, whereas potentially decreased vaccine efficacy among poorer households would reduce the equity benefits of the program. Our approach incorporates financial risk protection and distributional consequences into the systematic economic evaluation of vaccine policy, illustrated here with the case study of public finance for rotavirus vaccination. This enables selection of vaccine packages based on the quantitative inclusion of information on equity and on how much financial risk protection is being bought per dollar expenditure on vaccine policy, in addition to how much health is being bought. Copyright © 2013 Elsevier Ltd. All rights reserved.

CERTAIN ASPECTS OF THE FINANCING OF PUBLIC AND MUNICIPAL PROCUREMENT IN RUSSIA

Directory of Open Access Journals (Sweden)

Elena V. Krylova

2015-01-01

Full Text Available The article deals with the individual, the most important, in my opinion, aspects of the financing in the public order. Government purchases are considered as a complex, multi-tiered system of interrelated categories, the functioning of which should ensure the achievement of maximum effectiveness and efficiency of budget allocation. In this case, the participants of procurement procedures occurs responsible for quality results execution of the state order. The problems arising in the implementation of public contracts are set out proposals to improve the effectiveness of the financial mechanism under the contract system. 

Unlocking Land Values to Finance Urban Infrastructure : Land-Based Financing Options for Cities

OpenAIRE

George E. Peterson

2008-01-01

Raising capital to finance urban infrastructure is a challenge. One solution is to 'unlock' urban land values - such as by selling public lands to capture the gains in value created by investment in infrastructure projects. Land-based financing techniques are playing an increasingly important role in financing urban infrastructure in developing countries. They complement other capital fina...

DefenseLink Feature: Personal Finance

Science.gov (United States)

Multimedia / Photos Videos Publications Bloggers DoD Websites Personal Finance Resources As part of the finance director said here recently. Story Security Expert Advises Troops to Safeguard Personal, Financial education in personal finance that commanders say goes a long way in promoting battle readiness. Story

The Concept of Public Goods, the State, and Higher Education Finance: A View from the BRICs

Science.gov (United States)

Carnoy, Martin; Froumin, Isak; Loyalka, Prashant K.; Tilak, Jandhyala B.

2014-01-01

Because higher education serves both public and private interests, the way it is conceived and financed is contested politically, appearing in different forms in different societies. What is public and private in education is a political--social construct, subject to various political forces, primarily interpreted through the prism of the state.…

Finance structure and public enlightenment program of the first Turkish nuclear power plant project (a case study)

International Nuclear Information System (INIS)

Lutfi Sarici, E.

2000-01-01

This paper deals with four closely related subjects. These are: the positioning of nuclear energy in Turkey's energy planning by presenting supply and demand figures of electricity, giving emphasis to resource availability, pointing out the necessity of diversification of resources; the ongoing situation for realization of the Akkuyu Project with its updated milestones, alternative offers requested for the Akkuyu Nuclear Power Plant and member companies of the consortiums who already have submitted the three bids; the financing of big-scale energy investment projects in developing countries by giving special emphasis to the Akkuyu Nuclear Power Plant Project including the financing requirements in the Bid Specifications, OECD rules for financing, the requirements of financial agents, and financing means of domestic participation; public enlightenment during establishment of nuclear power in Turkey. (author)

7 CFR 1738.21 - Interim financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1738.21 Section 1738.21... Interim financing. (a) Upon notification by RUS that an applicant's application is considered complete, the applicant may enter into an interim financing agreement with a lender other than RUS or use its...

Exploring the private finance initiative as a route to finance for renewable energy projects

Energy Technology Data Exchange (ETDEWEB)

NONE

2000-07-01

This report reviews the private financing of public sector Renewable Energy projects through the Private Finance Initiative (PFI), and the relevance of such a technique to the renewables industry generally. (author)

TRANSPORTATION BOT SCHEMES FOR PUBLIC AND PRIVATE SECTOR FINANCING SCENARIO ANALYSIS

OpenAIRE

WEI, Chien-Hung; CHUNG, Ming-Chih

2002-01-01

Transportation Build-Operate-Transfer financing projects have larger payment risks and failure possibilities than other financing projects, and these factors are essential to financing scenarios. The changes of financing scenarios not only affect private sectors' financing process but the conflict between private sectors and banks. This study broadly reviews relevant factors affecting BOT financing strategies, interviews relevant experts and then uses scenario analysis to design a questionnai...

The Importance of Venture Capital Financing System in Financing Entrepreneurship: Applications in Turkey

OpenAIRE

Erkan Poyraz; Yusuf Tepeli

2016-01-01

The prominent concept of venture capital is examined as a financing model to the financing of entrepreneurship according to related literature. Venture capital is used with success in developed countries for a long time. Venture capital is a modern financing model that allows entrepreneurs to perform dynamic, creative, and innovative investment ideas as well as management, marketing and business support without requesting financial strength from those entrepreneurs. However, venture capital h...

TOLERATION OF CATHOLICS IN QUEBEC AND BRITISH PUBLIC FINANCES, 1760 TO 1775

Directory of Open Access Journals (Sweden)

Vincent Geloso

2015-06-01

Full Text Available This paper tackles the issue of the institutional decisions made by the British when they conquered the French colony of Quebec in 1760 by examining why toleration was the chosen policy course. Past experiences and the dire state of British public finances pushed the British government to adopt toleration of Catholics and of French legal institution in the colony as a policy designed to preserve the empire financially and strategically.

Public policy for start-up entrepreneurship with venture capital and bank finance

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

2003-01-01

This paper proposes and analyses a model of start-up investment. Innovative entrepreneursare commercially inexperienced and can benefit from venture capital support. Only part ofthem succeed in matching with a venture capitalist while the rest must resort to standard bankfinance. We consider a nu...... a number of policies to promote entrepreneurship and venture capitalbacked innovation.JEL Classification: D82, G24, G28, H24.Keywords: venture capital bank finance, matching, moral hazard, public policy....

The Finance Curse

DEFF Research Database (Denmark)

Christensen, John; Shaxson, Nick; Wigan, Duncan

2016-01-01

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......, economic instability, inequality, conflict, rent-seeking and corruption. The Finance Curse produces similar effects, often for similar reasons. Beyond a point, a growing financial sector can do more harm than good. Unlike the Resource Curse, these harms transcend borders. The concept of a Finance Curse...

Veřejné finance a finační trhy

OpenAIRE

Kahoun, Jakub

2010-01-01

Bachelor thesis deals with public finance and financial markets. Author analyzes the basic terms of the solved problems in the theoretical part: public finance, public budgets, public revenues, public expenditures, public debt, financial markets and their relations. The analytical part is trying to find an answer to the question, what tools the state have to finance the national debt and how to finance it from the government bond yield.

Financing the energy renovation of public buildings through Internal Contracting. Infinite Solutions Guidebook

International Nuclear Information System (INIS)

Schilken, Peter; Turner, Ian; Kuehnbach, Matthias; Simic, Ivan; Kuharic, Boris; Laranjeira, Celia; Rodrigues, Carlos; Couceiro, Carla; Presotto, Agnese; Mazzeschi, Alessandro; Cleto, Joao

2017-02-01

Meeting the European energy and climate policy objectives will require the mobilisation of substantial energy efficiency and renewable energy investments at the local level. Given both the substantial effort necessary to finance the energy transition and restricted municipal budgets, it is clear that these objectives cannot be met through traditional public financing such as grants or direct investment, but by finding a new approach to financing solutions. This Energy Cities guidebook is built upon a comprehensive analysis of Stuttgart's Internal Contracting scheme and a detailed questioning of it by the learning authorities within the INFINITE Solutions project. It is intended to offer guidelines to municipalities as well as universities, hospitals or other institutions interested in applying Internal Contracting to improve their energy consumption and efficiency performance. The approach of this guidebook is developed as follows: The concept of contracting - especially Internal Contracting - is introduced. Universal guidance is offered on how to implement an Internal Contracting scheme and keep it working over the long term. The Internal Contracting scheme is presented in practice. Several cities describe their individual approaches to Internal Contracting and the various ways they have been able to adapt the scheme

A Public Finance Perspective on Climate Policy: Six Interactions That May Enhance Welfare

OpenAIRE

Siegmeier, Jan; Mattauch, Linus; Franks, Max; Klenert, David; Schultes, Anselm; Edenhofer, Ottmar

2015-01-01

Climate change economics mostly neglects sizeable interactions of carbon pricing with other fiscal policy instruments. Conversely, public finance typically overlooks the effects of future decarbonization efforts when devising instruments for the major goals of fiscal policy. We argue that such a compartmentalisation is undesirable: policy design taking into account such interdependencies may enhance welfare and change the distribution of mitigation costs within and across generations. This cl...

Financing of the site search by a public corporation (organization model)

International Nuclear Information System (INIS)

Selmer, P.

2005-01-01

The paper is focussed on the development of a concept concerning the final deposit of radioactive waste in Germany in connection with the search of an appropriate site for the repository. The main features of the so called organization model are described, the financing of the site search under constitutional law and the principles of tax law is discussed in this context. Other topics are the legitimacy of a final disposal organization in the form of a public corporation with compulsory membership including unconstitutional contributions, and aspects of basic rights and constitutional legality

An extended cost-effectiveness analysis of schizophrenia treatment in India under universal public finance.

Science.gov (United States)

Raykar, Neha; Nigam, Aditi; Chisholm, Dan

2016-01-01

Schizophrenia remains a priority condition in mental health policy and service development because of its early onset, severity and consequences for affected individuals and households. This paper reports on an 'extended' cost-effectiveness analysis (ECEA) for schizophrenia treatment in India, which seeks to evaluate through a modeling approach not only the costs and health effects of intervention but also the consequences of a policy of universal public finance (UPF) on health and financial outcomes across income quintiles. Using plausible values for input parameters, we conclude that health gains from UPF are concentrated among the poorest, whereas the non-health gains in the form of out-of-pocket private expenditures averted due to UPF are concentrated among the richest income quintiles. Value of insurance is the highest for the poorest quintile and declines with income. Universal public finance can play a crucial role in ameliorating the adverse economic and social consequences of schizophrenia and its treatment in resource-constrained settings where health insurance coverage is generally poor. This paper shows the potential distributional and financial risk protection effects of treating schizophrenia.

Statistics for Finance

DEFF Research Database (Denmark)

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...

An introduction to mathematical finance with applications understanding and building financial intuition

CERN Document Server

Petters, Arlie O

2016-01-01

This textbook aims to fill the gap between those that offer a theoretical treatment without many applications and those that present and apply formulas without appropriately deriving them. The balance achieved will give readers a fundamental understanding of key financial ideas and tools that form the basis for building realistic models, including those that may become proprietary. Numerous carefully chosen examples and exercises reinforce the student’s conceptual understanding and facility with applications. The exercises are divided into conceptual, application-based, and theoretical problems, which probe the material deeper. The book is aimed toward advanced undergraduates and first-year graduate students who are new to finance or want a more rigorous treatment of the mathematical models used within. While no background in finance is assumed, prerequisite math courses include multivariable calculus, probability, and linear algebra. The authors introduce additional mathematical tools as needed. The entire...

NEURAL NETWORKS, FUZZY LOGIC AND GENETIC ALGORITHMS: APPLICATIONS AND POSSIBILITIES IN FINANCE AND ACCOUNTING

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José Alonso Borba

2010-04-01

Full Text Available There are problems in Finance and Accounting that can not be easily solved by means of traditional techniques (e.g. bankruptcy prediction and strategies for investing in common stock. In these situations, it is possible to use methods of Artificial Intelligence. This paper analyzes empirical works published in international journals between 2000 and 2007 that present studies about the application of Neural Networks, Fuzzy Logic and Genetic Algorithms to problems in Finance and Accounting. The objective is to identify and quantify the relationships established between the available techniques and the problems studied by the researchers. Analyzing 258 papers, it was noticed that the most used technique is the Artificial Neural Network. The most researched applications are from the field of Finance, especially those related to stock exchanges (forecasting of common stock and indices prices.

Risk sharing, public policy and the contribution of Islamic finance

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Hossein Askari

2014-12-01

Full Text Available A major reason for the recurrent episodes of financial instability is the predominance of interest-based debt and leveraging. Financial stability is achievable through risk sharing finance instead of risk shifting that characterizes contemporary finance. A risk sharing system serves the true function of finance as facilitator of real sector activities and avoids the emergence of a “paper economy” where there is gradual decoupling of finance from the real sector. Islamic finance was initially proposed as a profit-loss sharing system, but its core principle is risk sharing. In prohibiting interest-based debt instruments, Islam grounds finance on a strong risk sharing footing. Although still a young industry that has come a long way, it has not managed to develop truly risk-sharing instruments that would allow individuals, households, and firms as well as whole economies to mitigate systematic and un-systematic risks. It is suggested that governments should intervene and issue macro-market instruments to provide their treasuries with a significant source of non-interest rate based financing while promoting risk sharing. Moreover, given that evidence across the world suggests that monetary policy’s transmission mechanism may be impaired, it is suggested that these government issued securities could also impart added potency to monetary policy.

Judges as Fiscal Activists: Can Constitutional Review Shape Public Finance?

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Kantorowicz Jarosław

2014-07-01

Full Text Available The judicialization of politics, or alternatively, politization of the judiciary has been much discussed over the last twenty years. Despite this, the way judges influence fiscal policy outcomes remains, to a large extent, unexplored. This paper attempts, at least partially, to fill this research gap. A judicial (constitutional review constitutes the central element of the current analysis since it is considered as a key institutional device through which Constitutional (Supreme Courts intervene in politics, including public finance. Specifically, this paper seeks to investigate empirically whether there is any systematic pattern according to which judges executing judicial review shape fiscal outcomes. The conceptual framework is based on the strategic interaction model and the assumption that the Constitutional Courts reflect public opinion (i.e. the Court as a majoritarian institution. Some preliminary results for a panel of 24 EU countries in the period 1995–2005 suggest that a strong judicial review correlates with a smaller size of government, measured as government income to GDP.

Health and economic benefits of public financing of epilepsy treatment in India: An agent-based simulation model.

Science.gov (United States)

Megiddo, Itamar; Colson, Abigail; Chisholm, Dan; Dua, Tarun; Nandi, Arindam; Laxminarayan, Ramanan

2016-03-01

An estimated 6-10 million people in India live with active epilepsy, and less than half are treated. We analyze the health and economic benefits of three scenarios of publicly financed national epilepsy programs that provide: (1) first-line antiepilepsy drugs (AEDs), (2) first- and second-line AEDs, and (3) first- and second-line AEDs and surgery. We model the prevalence and distribution of epilepsy in India using IndiaSim, an agent-based, simulation model of the Indian population. Agents in the model are disease-free or in one of three disease states: untreated with seizures, treated with seizures, and treated without seizures. Outcome measures include the proportion of the population that has epilepsy and is untreated, disability-adjusted life years (DALYs) averted, and cost per DALY averted. Economic benefit measures estimated include out-of-pocket (OOP) expenditure averted and money-metric value of insurance. All three scenarios represent a cost-effective use of resources and would avert 800,000-1 million DALYs per year in India relative to the current scenario. However, especially in poor regions and populations, scenario 1 (which publicly finances only first-line therapy) does not decrease the OOP expenditure or provide financial risk protection if we include care-seeking costs. The OOP expenditure averted increases from scenarios 1 through 3, and the money-metric value of insurance follows a similar trend between scenarios and typically decreases with wealth. In the first 10 years of scenarios 2 and 3, households avert on average over US$80 million per year in medical expenditure. Expanding and publicly financing epilepsy treatment in India averts substantial disease burden. A universal public finance policy that covers only first-line AEDs may not provide significant financial risk protection. Covering costs for both first- and second-line therapy and other medical costs alleviates the financial burden from epilepsy and is cost-effective across wealth

Willingness to pay for publicly financed health care services in Central and Eastern Europe: evidence from six countries based on a contingent valuation method.

Science.gov (United States)

Tambor, Marzena; Pavlova, Milena; Rechel, Bernd; Golinowska, Stanisława; Sowada, Christoph; Groot, Wim

2014-09-01

The increased interest in patient cost-sharing as a measure for sustainable health care financing calls for evidence to support the development of effective patient payment policies. In this paper, we present an application of a stated willingness-to-pay technique, i.e. contingent valuation method, to investigate the consumer's willingness and ability to pay for publicly financed health care services, specifically hospitalisations and consultations with specialists. Contingent valuation data were collected in nationally representative population-based surveys conducted in 2010 in six Central and Eastern European (CEE) countries (Bulgaria, Hungary, Lithuania, Poland, Romania and Ukraine) using an identical survey methodology. The results indicate that the majority of health care consumers in the six CEE countries are willing to pay an official fee for publicly financed health care services that are of good quality and quick access. The consumers' willingness to pay is limited by the lack of financial ability to pay for services, and to a lesser extent by objection to pay. Significant differences across the six countries are observed, though. The results illustrate that the contingent valuation method can provide decision-makers with a broad range of information to facilitate cost-sharing policies. Nevertheless, the intrinsic limitations of the method (i.e. its hypothetical nature) and the context of CEE countries call for caution when applying its results. Copyright © 2014 Elsevier Ltd. All rights reserved.

Perspectives applicable to financing midstreamers: legal considerations

International Nuclear Information System (INIS)

Park, J. J.

2000-01-01

Systemic changes that have affected the sale, distribution and transportation of gas near the burner tip (collectively called 'midstream' activities) are reviewed, examining the causes of change, and the types of midstream asset transactions that are occurring, whether they involve structured financing arrangements or midstream companies. Also addressed are issues involved in transactions of this type, especially as they relate to gathering and processing agreements and construction, ownership and operation (CO and O) agreements. The two principal alternative structures (1) the financing party who does not assume operational control of the facility, and the (2) midstream company who build or acquire assets and operate them, the different implications for financing of each of the structural alternatives and the changing attitudes of producers towards midstream entities are explained. Closer examination of these new business structures reveals that they conflict with the terms and conditions of midstream agreements commonly used throughout the industry. It is recommended that these standard agreements be amended to permit midstream transactions to occur without undue restrictions. The kind of amendments suggested include automatic consent to a transfer of a facility to a Financing Party that meets certain reasonable financial tests; allowing the reconveyance from the Financing Party to the producer under a repurchase option; allowing the producer to act as Operator in place of its Financing Party

Considerations regarding the constitutional obligation determining the financing source for budgetary expenditures

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Florentina Camelia Stoica

2016-12-01

Full Text Available This study examines the relation between constitutionality and opportunity in order to adopt regulations in matters of economy and finance. The analysis concerns in particular the regulation process on budgetary expenditures, respectively the constitutional obligation to indicate the source of financing for these expenses. The legal and jurisprudential landmarks identified are likely to reveal the delicate issues of balancing the concurring interests, as well as the constitutionalisation tendency of certain obligations imposed by the law of public finances and, respectively, the Fiscal Responsibility Law in the sense of transforming them into “constitutional criteria” through the application of Article 138 (5 of the Constitution.

Innovative Financing of Higher Education: Changing Options and Implications

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Panigrahi, Jinusha

2018-01-01

With the onset of new public management, there is a shift in the methods of financing of higher education institutions across the countries of the world, particularly emerging market economies, from public financing to private financing of higher education. Many countries adopted this shift very quickly while others have moved towards a gradual…

Massive financing of the energy transition - SFTE feasibility study: synthesis report, Energy renovation of public buildings

International Nuclear Information System (INIS)

2014-11-01

The Energy Shift Financing Agency's (SFTE) project aims to establish a broad partnership between public and private entities to stimulate the economy and deliver between euros 180 bn and euros 420 bn of investment in Europe over 10 years for the benefit of medium-sized projects (in the order of euros 1 m) that are necessary for the energy transition. It will enable EU banks to finance the energy renovation of public buildings under excellent - cheap and long-term - conditions. A feasibility study has been conducted by the AFTER association with an exemplary consortium of public and private stakeholders in France: local authorities, industry players, banks/financial institutions, NGOs, Plan Batiment Durable. Many European institutions have expressed their interest in the initiative. Now the implementation of the SFTE project requires a commitment from European and national public authorities. Such a proactive real-estate policy would significantly contribute to economic recovery, cut costs, CO_2 emissions and the external deficit and improve energy independence, and could quickly create jobs. This document is the French version of the synthesis report of the SFTE project feasibility study. Two notes are attached to the document: one about the SFTE project adaptation to the Juncker's 315 bn euros investment plan, and the other about the selection of public buildings energy retrofitting in the Juncker plan and the French-German proposals

Financing the Electronic Library: Models and Options.

Science.gov (United States)

Waters, Richard L.; Kralisz, Victor Frank

1981-01-01

Places the cost considerations associated with public library automation in a framework of public finance comfortable to most administrators, discusses the importance of experience with use patterns in the electronic library in opening up new and innovative financing methods, and stresses the role of the library in the information industry. (JL)

Financing Child Care. A Public Policy Report from the Ewing Marion Kauffman Foundation. Winter 2002.

Science.gov (United States)

Ewing Marion Kauffman Foundation, Kansas City, MO.

This public policy report focuses on financing child care in the United States. The report contains brief articles on the following topics: (1) child care wages in comparison to other positions; (2) benefits to businesses when employees have high-quality child care; (3) resources for funding early education systems; (4) comparison of the cost of…

Tax levy financing for local public health: fiscal allocation, effort, and capacity.

Science.gov (United States)

Riley, William J; Gearin, Kimberly J; Parrotta, Carmen D; Briggs, Jill; Gyllstrom, M Elizabeth

2013-12-01

Local health departments (LHDs) rely on a wide variety of funding sources, and the level of financing is associated with both LHD performance in essential public health services and population health outcomes. Although it has been shown that funding sources vary across LHDs, there is no evidence regarding the relationship between fiscal allocation (local tax levy); fiscal effort (tax capacity); and fiscal capacity (community wealth). The purpose of this study is to analyze local tax levy support for LHD funding. Three research questions are addressed: (1) What are tax levy trends in LHD fiscal allocation? (2) What is the role of tax levy in overall LHD financing? and (3) How do local community fiscal capacity and fiscal effort relate to LHD tax levy fiscal allocation? This study focuses on 74 LHDs eligible for local tax levy funding in Minnesota. Funding and expenditure data for 5 years (2006 to 2010) were compiled from four governmental databases, including the Minnesota Department of Health, the State Auditor, the State Demographer, and the Metropolitan Council. Trends in various funding sources and expenditures are described for the time frame of interest. Data were analyzed in 2012. During the 2006-2010 time period, total average LHD per capita expenditures increased 13%, from $50.98 to $57.63. Although the overall tax levy increase in Minnesota was 25%, the local tax levy for public health increased 5.6% during the same period. There is a direct relationship between fiscal effort and LHD expenditures. Local funding reflects LHD community priorities and the relative importance in comparison to funding other local programs with tax dollars. In Minnesota, local tax levy support for local public health services is not keeping pace with local tax support for other local government services. These results raise important questions about the relationship between tax levy resource effort, resource allocation, and fiscal capacity as they relate to public health

32 CFR 705.19 - Financing.

Science.gov (United States)

2010-07-01

... 32 National Defense 5 2010-07-01 2010-07-01 false Financing. 705.19 Section 705.19 National Defense Department of Defense (Continued) DEPARTMENT OF THE NAVY UNITED STATES NAVY REGULATIONS AND OFFICIAL RECORDS PUBLIC AFFAIRS REGULATIONS § 705.19 Financing. (a) The financial requirements for...

Capital budgeting under relational contracting: optimal ranking and duration criteria for schemes of concession, project-financing and public-private partnership

OpenAIRE

Biondi, Yuri

2009-01-01

International audience; Project-financing and public-private partnership schemes are joint projects of investment that are generally submitted to investment valuation criteria based on compound discounting. However, the theoretical basis of these criteria is at issue nowadays. According to recent studies on relational contracting economics and behavioral finance, joint projects of investment can be considered as special relational environments where the project's returns improve on alternativ...

7 CFR 3560.71 - Construction financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Construction financing. 3560.71 Section 3560.71... Construction financing. (a) Construction financing plan. Prior to loan approval, applicants must submit to the Agency for its concurrence a plan for the construction financing and securing of the loan. (b) Interim...

Financing off-grid sustainable energy access for the poor

International Nuclear Information System (INIS)

Glemarec, Yannick

2012-01-01

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.

Financing universal coverage in Malaysia: a case study.

Science.gov (United States)

Chua, Hong Teck; Cheah, Julius Chee Ho

2012-01-01

One of the challenges to maintain an agenda for universal coverage and equitable health system is to develop effective structuring and management of health financing. Global experiences with different systems of health financing suggests that a strong public role in health financing is essential for health systems to protect the poor and health systems with the strongest state role are likely the more equitable and achieve better aggregate health outcomes. Using Malaysia as a case study, this paper seeks to evaluate the progress and capacity of a middle income country in terms of health financing for universal coverage, and also to highlight some of the key underlying health systems challenges.The WHO Health Financing Strategy for the Asia Pacific Region (2010-2015) was used as the framework to evaluate the Malaysian healthcare financing system in terms of the provision of universal coverage for the population, and the Malaysian National Health Accounts (2008) provided the latest Malaysian data on health spending. Measuring against the four target indicators outlined, Malaysia fared credibly with total health expenditure close to 5% of its GDP (4.75%), out-of-pocket payment below 40% of total health expenditure (30.7%), comprehensive social safety nets for vulnerable populations, and a tax-based financing system that fundamentally poses as a national risk-pooled scheme for the population.Nonetheless, within a holistic systems framework, the financing component interacts synergistically with other health system spheres. In Malaysia, outmigration of public health workers particularly specialist doctors remains an issue and financing strategies critically needs to incorporate a comprehensive workforce compensation strategy to improve the health workforce skill mix. Health expenditure information is systematically collated, but feedback from the private sector remains a challenge. Service delivery-wise, there is a need to enhance financing capacity to expand preventive

EVALUATION OF EFFICIENCY OF FINANCING TRANSPORT INFRASTRUCTURE PROJECTS REALIZED IN THE FRAMEWORK OF PUBLIC PRIVATE PARTNERSHIP

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S. B. Vasiliev

2015-01-01

Full Text Available The article examines the basic approach to evaluating efficiency of financing transport infrastructure projects realized in the framework of public private partnership. The main ways of the project realization are identified, and their main advantages and disadvantages are described. Detailed elaboration and structuring of infrastructure projects are grounded.

On the selection of financing instruments to push the development of new technologies: Application to clean energy technologies

International Nuclear Information System (INIS)

Olmos, Luis; Ruester, Sophia; Liong, Siok-Jen

2012-01-01

Achieving climate policy goals requires mobilizing public funds to bring still immature clean technologies to competitiveness and create new technological options. The format of direct public support must be tailored to the characteristics of technologies addressed. Based on the experience accumulated with innovation programs, we have identified those features of innovation that should directly condition the choice of direct support instruments. These include the funding gap between the cost of innovation activities and the amount of private funds leveraged; the ability of technologies targeted to compete for public funds in the market; the probability that these technologies fail to reach the market; and the type of entity best suited to conduct these activities. Clean innovation features are matched to those of direct support instruments to provide recommendations on the use to be made of each type of instrument. Given the large financing gap of most clean energy innovation projects, public grants and contracts should finance a large part of clean pre-deployment innovation. However, public loans, equity investments, prizes and tax credits or rebates can successfully support certain innovation processes at a lower public cost. Principles derived are applied to identify the instrument best suited to a case example. - Highlights: ► Public financing instruments must be tailored to the features of supported innovation. ► Instruments should trigger desired innovation at the lowest public cost possible. ► They should strike the right balance between technology selection and competition. ► Public funds mobilized through them should reach the innovating entity. ► Public loans, equity investments, prizes, and rebates should be used in specific cases.

Sensitivity Analysis Of Financing Demand In Syariah Banking

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DR. HJ. ROSYETTI

2017-11-01

Full Text Available This study aims to analyze the Sensitivity of Demand Financing in syariah banking with a focus on the elasticity of financing demand income elasticity and cross elasticity. The type of data used in this study is secondary data quantitative and time series obtained from the publication of BPS BI and OJK. The data analysis technique begins by estimating multiple linear regression equations using the Eviews Application further measuring the sensitivity using elasticity. The research variables consist of revenue gross domestic product and conventional bank interest rate as independent variables and demand for financing as a dependent variable. The results obtained for the results gross domestic product and interest rate of conventional banks simultaneously affect the demand for financing in Islamic banking with a significant level of 5 obtained probability value F statistic amp945 005. Partially revenue share and gross domestic product have a significant effect on demand for financing. While the variable interest rate of conventional banks partially does not have a significant effect on demand for financing in Islamic banking. The ability of the three independent variables to explain the dependent variable of 99.06 the rest of 0.04 influenced by other factors outside this study. The sensitive value of demand for financing in syariah banking during the observation period was 3.94 amp400P 1 so that it can be said that demand for financing in syariah banking is elastic. The elasticity of income demand for financing in syariah banking during the observation period of 3.08 amp400I 1 is categorized as luxuries goods. The cross elasticity value of financing demand in syariah banking during the observation period is 0.52 or positive amp400C 0 it can be categorized that the interest rate of a conventional bank is a substitute of profit sharing.

Exécution des marchés publics mise en oeuvre administrative et financière

CERN Document Server

Serr, Fabien

2013-01-01

L'exécution des marchés publics constitue la phase critique de mise en oeuvre de tous les éléments préparés lors de la passation du marché ; c'est aussi la période de gestion administrative, financière et technique des événements prévus ou non sur un chantier. Cet ouvrage opérationnel et juridique détaille la mise en oeuvre du marché et décrypte, au travers de 27 chapitres, chaque phase de l'exécution administrative et financière de tout type de marché : suivi, sous-traitance, garantie, paiement, décompte, réception, recours amiables, etc. Exécution des marchés publics permet de : - disposer d'une vue d'ensemble de l'exécution des marchés publics ; - s'approprier le cadre juridique de l'exécution (Code des marchés publics, textes réglementaires ou législatifs, CCAG et règles de la comptabilité publique, etc.) ; - maîtriser les différentes phases de l'exécution et leur articulation ; - respecter l'ensemble des étapes, les points de procédures à suivre, etc. De nombreux tabl...

24 CFR 884.114 - Financing.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 884.114 Section 884.114... HOUSING PROJECTS Applicability, Scope and Basic Policies § 884.114 Financing. (a) Types. Eligible projects... contract as security for financing. (1) An Owner may pledge, or offer as security for any loan or...

Maternal and reproductive health financing in Burundi: public-sector contribution levels and trends from 2010 to 2012.

Science.gov (United States)

Chaumont, Claire; Muhorane, Carmen; Moreira-Burgos, Isabelle; Juma, Ndereye; Avila-Burgos, Leticia

2015-10-01

An understanding of public financial flows to reproductive health (RH) at the country level is key to assessing the extent to which they correspond to political commitments. This is especially relevant for low-income countries facing important challenges in the area of RH. To this end, the present study analyzes public expenditure levels and trends with regards to RH in Burundi between the years 2010 to 2012, looking specifically at financing agents, health providers, and health functions. The analysis was performed using standard RH sub-account methodology. Information regarding public expenditures was gathered from national budgets, the Burundi Ministry of Public Health information system, and from other relevant public institutions. Public RH expenditures in Burundi accounted for $41.163 million international dollars in 2012, which represents an increase of 16 % from 2010. In 2012, this sum represented 0.57 % of the national GDP. The share of total public health spending allocated to RH increased from 15 % in 2010 to 19 % in 2012. In terms of public agents involved in RH financing, the Ministry of Public Health proved to play the most important role. Half of all public RH spending went to primary health care clinics, while more than 70 % of this money was used for maternal health; average public RH spending per woman of childbearing age stagnated during the study period. The flow patterns and levels of public funds to RH in Burundi suggest that RH funding correctly reflects governmental priorities for the period between 2010 and 2012. In a context of general shrinking donor commitment, local governments have come to play a key role in ensuring the efficient use of available resources and the mobilizing of additional domestic funding. A strong and transparent financial tracking system is key to carrying out this role and making progress towards the MDG Goals and development beyond 2015.

On Politics and Education Finance: A Bibliography of Joel S. Berke, James W. Guthrie, and Michael W. Kirst. Vance Bibliographies, Public Administration Series: Bibliography P-821.

Science.gov (United States)

Quay, Richard H.

A bibliography of Joel S. Berke, James W. Guthrie, and Michael W. Kirst on politics and educational finance is presented. Specific topics include the following: whether financial support of public schools should be assumed completely by states, school finance policies and practices, school finance reform versus the spending and tax limitation…

FINANCING RENEWABLE ENERGY SOURCES INVESTMENT IN POLAND

Directory of Open Access Journals (Sweden)

Jerzy Piotr Gwizdała

2017-09-01

Full Text Available In Poland, as in other European Union countries, the project finance structure is used to finance investments in the field of energy. This method investment financing is often used in the world. The upward trend inhibition in recent periods has been due to the global financial crisis and financial instability in the euro zone. On account of the necessity to develop the energy infrastructure associated with renewable sources, the considerable strengthening in the use of project finance techniques can be expected. The particular progression may be observed in the case of public-private partnership (ppp, where public investments are carried out by private companies. Companies, in case of investment realization in the field of ppp, almost always use project finance, because it is a beneficial way to separate the risks associated with an investment from the balance sheet of the compa-ny.

In search of financial sufficiency in the Spanish public university: From financing to the cost control and cost management

Directory of Open Access Journals (Sweden)

Santiago Aguilà

2016-02-01

Full Text Available Purpose: The current socio-economic context characterized by restrictive budgetary policies in the countries of the European Union has led to a reduction in public funding in the Spanish public university raising the deficit in many universities. That is why, while they are completing the implementation of a cost accounting model (Modelo Canoa to quantify their real financial needs, are also increasing academic rates with the limits established in the Decree-Law 14/2012 of 20 April as practically the only resource. This fact may ultimately affect demand. It is urgent to find therefore new sources of private funding as well as implementing techniques to control and reduce costs justified by the extreme financial situations of some universities. Design/methodology: These new sources of private funding as well as the specific techniques of control and cost management that are used in public universities outside of Spain are described. It has also made a poll to the managers of the Spanish public universities considering the diversification of funding sources and the feasibility of adopting specific techniques of control and cost management to help the achievement of financial sufficiency. Findings: Especially in the US universities, financing is more diversified and not depend so much of the increase in public rates. Specific techniques of control and cost management are also used and they are applicable to the Spanish case according to the opinion of the managers. Research limitations/implications: 82% of managers have completed the proposed poll. Originality/value: Identifying sources of private funding and specific techniques of control and cost management applicable to the Spanish public universities.

Financing long-term care: ex ante, ex post or both?

Science.gov (United States)

Costa-Font, Joan; Courbage, Christophe; Swartz, Katherine

2015-03-01

This paper attempts to examine the heterogeneity in the public financing of long-term care (LTC) and the wide-ranging instruments in place to finance LTC services. We distinguish and classify the institutional responses to the need for LTC financing as ex ante (occurring prior to when the need arises, such as insurance) and ex post (occurring after the need arises, such as public sector and family financing). Then, we examine country-specific data to ascertain whether the two types of financing are complements or substitutes. Finally, we examine exploratory cross-national data on public expenditure determinants, specifically economic, demographic and social determinants. We show that although both ex ante and ex post mechanisms exist in all countries with advanced industrial economies and despite the fact that instruments are different across countries, ex ante and ex post instruments are largely substitutes for each other. Expenditure estimates to date indicate that the public financing of LTC is highly sensitive to a country's income, ageing of the population and the availability of informal caregiving. Copyright © 2015 John Wiley & Sons, Ltd.

PROBLEMS AND PROSPECTS OF FINANCING HIGHER EDUCATION INSTITUTIONS OF UKRAINE

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O. Krasilnyk

2015-03-01

Full Text Available The paper considers the problems of financing higher education institutions and focuses on formation of estimates of higher education institutions in Ukraine. The study established that the public and municipal education institutions financed by estimate and budget, which is determined by the amount and directions of use funds for implementation of functions and achieving the goals. The estimate has 2 components: general and special fund. The paper describes the practice of using general and special funds of higher education institutions. The results present the features of financing public and private higher education institutions. Public higher education institutions acutely feel the lack of financial resources. Tuition fees at public higher education institutions are calculated according to the requirements of the budget legislation. The conclusions suggest the prospects of financing higher education institutions in Ukraine. Higher education institutions need to give special attention to financial planning, optimization of financing sources and expenditures. It is necessary to reform the models, methods and forms of financing higher education sector.

DESCRIPTION OF THE BUDGET CONTROL TYPES IN MODERN CONDITIONS OF PUBLIC FINANCE MANAGEMENT

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Nataliya Melnichuk

2016-11-01

Full Text Available The article highlights the essence of budgetary control. The features of control in the public sector performance are grounded as well as the relationship between verifiability and the controllability. It is proved that the achievement of public finance management needs its controllability. There is no alternative verifiability by ensuring controllability of budget resources. The classification criteria of budgetary control types according to the different classification criteria are developed. It has allowed to distinguish its following types: scheduled, unscheduled, previous, current, next, state, municipal, specialized, departmental, public, external, internal, solid, selective, comprehensive, effective, ineffective, centralized, decentralized, legislative, realizable, further, active, passive, available, projected, intermediate, final, mixed. The purpose of the article is to provide a classification criteria of budgetary control development, taking into account the role and functions of control in public finance management. The subject of the study is a set of financial relationships arising during the budgetary control due to appropriation of financial resources. Methodology. The following methods have been used in the process of writing: cognition, induction, deduction, analysis and synthesis. Results of the survey. Thus, the main directions of budgetary control implementation we can consider the following ones: monitoring compliance with procedures for preparation, review and approval of state and local budgets; the implementation of revenue and expenditure of the budget at the national and local levels control; detection of theft of public funds, as well as their misuse; accuracy of accounting control; increasing the revenue base of the state budget detection; preventive measures to combat corruption and bribery in the public sector. The author’s approach to classification criteria of budgetary control types, unlike existing ones

43 CFR 29.6 - Financing, accounting, and audit.

Science.gov (United States)

2010-10-01

... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Financing, accounting, and audit. 29.6 Section 29.6 Public Lands: Interior Office of the Secretary of the Interior TRANS-ALASKA PIPELINE LIABILITY FUND § 29.6 Financing, accounting, and audit. (a)(1) The Operator of the Pipeline shall notify...

Statistics and finance an introduction

CERN Document Server

Ruppert, David

2004-01-01

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...

Financing of the National Churches in the Nordic Countries, England and Scotland

DEFF Research Database (Denmark)

Kjems, Sidsel; Bille, Trine

This article analyses the financing of seven national churches in a large comparative study. The national churches in the Nordic countries and in England and Scotland are compared. They have many similarities in terms of history, intertwinement with the state, type and level of religiosity...... of the population, public role and public responsibilities, but the level of financing differs greatly. The purpose of the article is to discuss possible explanations for the differences in the level of financing. Adjusting for cost of public service tasks and for GDP leaves a large difference in financing among...... the seven national churches. We suggest that the source of finance is a determinant factor for the level of finance of national churches. Comparing the sources and level of financing of seven national churches in the Nordic countries, England and Scotland shows that financing by a taxation right yields...

Estimating mobilized private climate finance for developing countries - A Norwegian pilot study

OpenAIRE

Torvanger, Asbjørn; Narbel, Patrick; Lund, Harald Francke

2015-01-01

The point of departure for this study is the available data in Norway on climate finance for developing countries. The bottleneck in tracking mobilized private climate finance is availability and quality of data. The main challenge is that Norwegian public institutions sourcing public support for climate finance have not yet implemented sufficient systems for measurement, reporting and verification of mobilized private climate finance. In addition, climate finance tracking is constrained by m...

Leveraging energy efficiency to finance public-private social housing projects

International Nuclear Information System (INIS)

Copiello, Sergio

2016-01-01

The Italian housing model relies on a high rate of privately owned houses. In comparison, few dwellings are built and managed by the public sector. The social housing stock has been built mainly during some post-second world war decades; instead, since the early nineties, it underwent a privatization process. Such a model is inefficient and iniquitous in the long run. Therefore, after being disregarded for several years, social housing has gone back to be among the main agenda items. Nonetheless, due to the lack of public grants, new funding sources are required. The government now fosters an increasing involvement of private finance through Public-Private Partnership schemes. A first outcome can be found in some pioneering experiences. Their comparative analysis allows bringing out worthwhile findings, which are useful to steer housing policies. Moderate to low yields entail the need to involve new kinds of private entities, particularly those adopting a venture philanthropy approach. Meanwhile, building energy performance measures are a crucial driver of feasibility. They allow the tenants to be willing to pay agreed rents somehow higher than both social rents of protected tenancies and fair rents of regulated tenancies. - Highlights: •In Italy, the provision of affordable dwellings was disregarded for years. •Recently, instead, social housing has come back to be among the main agenda items. •Latest regulations try to tie together social housing and Public-Private Partnership. •Social tenants may be asked to pay more than in protected and regulated tenancies. •Energy-efficient measures allow keeping the tenants neutral about the rent increase.

CONTROL ENVIRONMENT IN KOSOVO PUBLIC INSTITUTIONS

Directory of Open Access Journals (Sweden)

Shaqir M. REXHEPI

2015-06-01

Full Text Available The study on how is Internal Control System developed in public institutions is of a special importance for modalities, forms and the manner of the application of relevant strategies for the functioning of internal control environment in public institutions. In this paper, there is treated the existing situation of internal control system environment of public finances and its implementation in public sector. For internal control system environment in public finances to function effectively, there should exist a coherent control environment which includes responsibilities for financial management from managers of Publicly Owned Enterprises and with complete functioning of internal audit, which exists in the function of development to add value. In Kosovo public institutions, this framework is offered by legislation and by institutional mechanism for the implementation of legislation according to these parameters.

NPS transportation innovative finance options

Science.gov (United States)

2013-05-01

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...

How to Allocate Public Funding to Nongovernmental Development Organizations: A Critical Assessment of the Dutch Co-Financing System

NARCIS (Netherlands)

Ruben, R.; Schulpen, L.W.M.

2009-01-01

The Dutch co-financing system for nongovernmental development organizations (NGDOs) is unique in Europe. Almost a quarter of public development aid is channeled through a selective group of NGDOs that have to satisfy a broad range of institutional and operational criteria. The procedures for

Corporate Finance: its organization and epistemological basis

Directory of Open Access Journals (Sweden)

Luiz Henrique Herling

2014-08-01

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.

Privatization Financing Alternatives: Blending Private Capital and Public Resources for a Successful Project

Energy Technology Data Exchange (ETDEWEB)

BT Oakley; JH Holbrook; L Scully; MR Weimar; PK Kearns; R DiPrinzio

1998-10-19

The U.S. Department of Energy (DOE) launched the Contract Reform Initiative in 1994 in order to improve the effectiveness and effkiency of managing major projects and programs. The intent of this initiative is to help DOE harness both technical and market forces to reduce the overall cost of accomplishing DOE's program goals. The new approach transfers greater risk to private contractors in order to develop incentives that align contractor performance with DOE's objectives. In some cases, this goal can be achieved through public-private partnerships wherein the govermhent and the contractor share risks associated with a project in a way that optimizes its economics. Generally, this requires that project risks are allocated to the party best equipped to manage and/or underwrite them. While the merits of privatization are well documented, the question of how privatized services should be financed is often debated. Given the cost of private sector equity and debt, it is difficult to ignore the lure of the government's "risk free" cost of capital. However, the source of financing for a project is an integral part of its overall risk allocation, and therefore, participation by the government as a financing source could alter the allocation of risks in the project, diminishing the incentive structure. Since the government's participation in the project's financing often can be a requirement for financial feasibility, the dilemma of structuring a role for the government without undermining the success of the project is a common and difficult challenge faced by policymakers around the world. However, before reverting to a traditional procurement approach where the government enters into a cost-plus risk profile, the government should exhaust all options that keep the private entity at risk for important aspects of the project. Government participation in a project can include a broad range of options and can be applied with precision to bridge a

Participatory financing for green growth

International Nuclear Information System (INIS)

Laville, Dorine; Phantharangsi, Maryvonne; Monnoyer-Smith, Laurence; Demeulenaere, Laurence; Lequeux, Typhaine; Cuny, Alicia

2017-01-01

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

75 FR 65197 - Use of Public Housing Capital Funds for Financing Activities

Science.gov (United States)

2010-10-21

..., lenders cannot view PHAs or their stand-alone projects as market-rate financing, but rather that private.... Response: This CFFP final rule permits PHAs to size their financing either on the project level, or on an... Funds for Financing Activities; Final Rule #0;#0;Federal Register / Vol. 75 , No. 203 / Thursday...

A MCDM approach for project finance selection: An application in the renewable energy sector

Directory of Open Access Journals (Sweden)

García-Bernabeu, Ana

2015-05-01

Full Text Available Renewable energy (RE is emerging as a solution in order to replace fossil fuels and become the primary source of energy consumption. Investments in the RE sector involve huge amounts of capital but also many risks. Public sector plays an important role in promoting RE projects but due to the need for reducing public expenditure the private sector becomes essential in financing this type of projects. Project Finance is widely used in RE projects and is especially attractive to the private sector because it can fund major projects off balance sheet. The objective of this paper is to present a decision making tool for helping the private sector on the selection process of RE projects to be funded. The problem could be considered as a multiple criteria decision-making problem where both, financial and non-financial criteria have to be taken into account. Objective aggregation weights for those criteria are obtained using the Moderate Pessimism Decision Making approach and a final ranking of the projects is obtained.

Impact of demographic ageing on sustainability of public finance in Serbia

Directory of Open Access Journals (Sweden)

Zdravković Aleksandar

2012-01-01

Full Text Available Population ageing is a global phenomenon without precedent in the history of humanity having implications in all facets of life. From an economic point of view, population ageing is certainly one of the biggest challenges of modern time. A consequence of these global demographic tendencies reflected in growing number of pensioners which negatively affects sustainability of public pension systems financed by the principle of intergenerational solidarity (Pay-As-You-Go - widely represented in public pension schemes of European countries. In this paper, impact of demographic ageing on pension systems is analyzed in the context of sustainability of public finance in Serbia in the period 2010-2050. Although the comparative analysis of the pension expenditure share in gross domestic product (GDP does not point to significant differences between Serbia and the countries in the neighborhood and the European Union, the growth trend of subsidizing the Pension Fund from the government budget endangers medium-term sustainability of the public pension system in Serbia, bearing in mind that the implementation of measures proposed in pension reforms can be valorized only in the long run. The main objective of the analysis is projecting long-term pension expenditure as a share of GDP. The projections were formed indirectly by modeling the average pension expenditure, because this variable incorporates both growth in the total pension expenditure and growth in the number of pensioners as a result of demographic trends, and better reflects the actual growth of pension expenditure. For the purposes of the analysis, in addition to the projection of real GDP growth, size of the inactive population aged 65 and over, as the main contingent of the pension system users and the total number of pensioners, was projected by means of stochastic cohort component methodology. Based on these projections and assumptions about the growth rate of average pension expenditure

European Union at the end of 1997: who is within the public finance “sustainability” zone?

Directory of Open Access Journals (Sweden)

L.L. PASINETTI

1998-03-01

Full Text Available The Maastricht Treaty of 1992 contains regulations on the eligibility of European Union (EU member countries to join the single currency. 'Sustainability' of a country's public finance position is one of the four criteria for membership of the single currency. One major finding is the extremely important role to be played by the policies aimed at regulating the level of the medium- and long-term rates of interest within a framework of financial and fiscal stability. Belgium and Italy, which have higher debt/GDP ratios, may achieve convergence sooner through privatisation of public debt enterprises.

Mobilizing private finance to drive an energy industrial revolution

International Nuclear Information System (INIS)

Mathews, John A.; Kidney, Sean; Mallon, Karl; Hughes, Mark

2010-01-01

While uptake of renewable energies as a solution to climate change is widely discussed, the issue of public vs. private financing is not yet adequately explored. The debates over the Kyoto Protocol and its successor, culminating in the COP15 Climate Change Conference in Copenhagen in December 2009, maintained a strong preference for public over private financing. Yet it is also clear to most observers that the energy revolution will never happen without the involvement of private finance to drive private investment. In this Viewpoint, we discuss the ways in which private financing could be mobilized to drive the energy industrial revolution that is needed if climate change mitigation is to succeed.

DEVELOPMENT OF THE INSTITUTIONAL BASIS FOR FINANCING THE PUBLIC SECTOR OF THE REGIONAL ECONOMY

Directory of Open Access Journals (Sweden)

E.N. Sidorova

2008-06-01

Full Text Available This article considers the problems of financial support of the regional and municipal economy development. Formation of the institutional basis for the budgeting process and budgets interactions between the territories of different levels are shown on the base of retrospective analysis of foundation and development of budget federalism in Russia. Attraction of entrepreneurial sector resources on the conditions of public-private partnership is discussed as additional finance source and definite particularities of this process are described in line with the possibilities of their appliance.

75 FR 29547 - Federal Acquisition Regulation; Information Collection; Contract Financing

Science.gov (United States)

2010-05-26

...; Information Collection; Contract Financing AGENCIES: Department of Defense (DoD), General Services... previously approved information collection requirement concerning contract financing. Public comments are... substantially changed the statutory authorities for Government financing of contracts. Sections 2001(f) and 2051...

Application of waqf for social and development finance

Directory of Open Access Journals (Sweden)

Salman Ahmed Shaikh

2017-07-01

Full Text Available Purpose - This paper aims to discuss the application of waqf (endowment in the social finance sector for funding social and development projects and services. Design/methodology/approach - The study is qualitative. It reviews literature and provides descriptive data to present its main idea. Findings - Most Muslim-majority countries are generally income-poor, and the governments are generally weak in their tax collection, effective governance and capacity for development spending. Private sector financial institutions are scarce and mostly cater to the people who can meet the income-based lending criteria. Thus, the institution of waqf can fill the gap as a social finance institution by providing intermediation services for effectively utilising perpetual social savings. Flexibility in the rules of waqf enables it to serve beneficiaries directly or through financial institutions and to provide a wide range of social services. Research limitations/implications - This conceptual research highlights the need and potential of waqf without discussing the regulatory and operational details of how to effectively institutionalize it in different regions. Practical implications - The institution of waqf can harness the potential of selfless charitable giving in an effective way for better economic impact in the targeted social segments of society. Originality value - The paper suggests the establishment of waqf-based training and vocational centres which will increase opportunities of self-employment and contribute in upward social mobility of beneficiaries.

ALTERNATIVE MODELS OF FINANCING REGIONAL DEVELOPMENT

Directory of Open Access Journals (Sweden)

Cristina, GRADEA

2013-12-01

Full Text Available Public financing of infrastructure proved under performing at uneconomic prices, and because of political interference in the management of funds, understanding the problem leading to the adoption of private funding variant, an effective way of private funding being the financing of the project. Project financing is a concept that assessed by means of financing a specific technique. In this context, those granting funds usually through loans typically are only interested in cash flows and project profit, which are a source of funds for repayment of loans; they are less interested in the creditworthiness of those employed in the project (organizations, governments, communities and so on. This approach has led to the emergence of new ways of financing projects, new types of projects, such as regional and rural development.

Universal public finance of tuberculosis treatment in India: an extended cost-effectiveness analysis.

Science.gov (United States)

Verguet, Stéphane; Laxminarayan, Ramanan; Jamison, Dean T

2015-03-01

Universal public finance (UPF)-government financing of an intervention irrespective of who is receiving it-for a health intervention entails consequences in multiple domains. First, UPF increases intervention uptake and hence the extent of consequent health gains. Second, UPF generates financial consequences including the crowding out of private expenditures. Finally, UPF provides insurance either by covering catastrophic expenditures, which would otherwise throw households into poverty or by preventing diseases that cause them. This paper develops a method-extended cost-effectiveness analysis (ECEA)-for evaluating the consequences of UPF in each of these domains. It then illustrates ECEA with an evaluation of UPF for tuberculosis treatment in India. Using plausible values for key parameters, our base case ECEA concludes that the health gains and insurance value of UPF would accrue primarily to the poor. Reductions in out-of-pocket expenditures are more uniformly distributed across income quintiles. A variant on our base case suggests that lowering costs of borrowing for the poor could potentially achieve some of the health gains of UPF, but at the cost of leaving the poor more deeply in debt. © 2014 The Authors. Health Economics published by John Wiley Ltd.

Investigating Appropriate Financing Methods in Collaborative Projects of Water and Wastewater with AHP Approach

Directory of Open Access Journals (Sweden)

V. Vosoughi

2017-10-01

Full Text Available A mix of public and private funding is employed worldwide to enable the construction of large public projects and even, in some cases, the work of public services. In this study, the selected methods of financing of participatory projects of water and water wastes were studied and prioritized. Questionnaires and comments of experts were used along with AHP decision-making and Expert Choice software. Different financing methods include: BOT and BOO and its types, the publication of bonds, foreign direct investment, the method of buyback, internal financing, current financing, development banks, Barter transactions, new tax resources and foreign financing. Results are shown and discussed and a final ranking is provided.

The Public Administration Accounting in the Light Public Finance Managements Reform and Changes of the New Accounting Directive of the European Parliament and the European Council

Directory of Open Access Journals (Sweden)

Košovská Iveta

2014-12-01

Full Text Available The role of public administration accounting is to secure a database of relevant information essential for the management of public finances and need for presenting of operations results of our country within the European Union (EU. The accounting of public administration entities should provide a true and fair view on the assets and liabilities, as well as the financial situation and the use of public appropriations. After the entry of the Slovak Republic (SR to the European Union (EU the International Public Sector Accounting Standards began to be applied in our legislation. They provide a uniform basis for the data consolidation as well as more efficient information for the economic decisions of individual users

Novel software system development for finance

OpenAIRE

Maad, Soha

2002-01-01

This paper addresses the need for novel software system development (SSD) practices in finance. It proposes Empirical Modelling as a novel approach for SSD in finance. This approach aims at finding a suitable framework for studying both the traditional and the emerging computing culture to SSD in finance. First, the paper studies the change in the financial industry and identifies key issues of the application of computer-based technology in finance. These key issues are framed in a wider age...

Mobilizing Public Markets to Finance Renewable Energy Projects: Insights from Expert Stakeholders

Energy Technology Data Exchange (ETDEWEB)

Schwabe, P.; Mendelsohn, M.; Mormann, F.; Arent, D. J.

2012-06-01

Financing renewable energy projects in the United States can be a complex process. Most equity investment in new renewable power production facilities is supported by tax credits and accelerated depreciation benefits, and is constrained by the pool of potential investors that can fully use these tax benefits and are willing to engage in complex financial structures. For debt financing, non-government lending has largely been provided by foreign banks that may be under future lending constraints due to economic and regulatory conditions. To discuss renewable energy financing challenges and to identify new sources of capital to the U.S. market, two roundtable discussions were held with renewable energy and financing experts in April 2012. This report summarizes the key messages of those discussions and is designed to provide insights to the U.S. market and inform the international conversation on renewable energy financing innovations.

An Exploratory Study of the Effects of Project Finance on Project Risk Management : How the Distinguishing Attributes of Project Finance affects the Prevailing Risk Factor?

OpenAIRE

Chan, Ka Fai

2011-01-01

Project finance is a financing arrangement for projects, and it is characterised by the creation of a legally independent project company financed with non- or limited recourse loans. It is observed that the popularity of project finance is increasing in the recent decades, despite of the impact of Asian financial crisis. Especially in emerging markets, project finance is very common among the public-private partnership projects. It is possible that project finance yields some benefits in pro...

The Government Finance Database: A Common Resource for Quantitative Research in Public Financial Analysis.

Science.gov (United States)

Pierson, Kawika; Hand, Michael L; Thompson, Fred

2015-01-01

Quantitative public financial management research focused on local governments is limited by the absence of a common database for empirical analysis. While the U.S. Census Bureau distributes government finance data that some scholars have utilized, the arduous process of collecting, interpreting, and organizing the data has led its adoption to be prohibitive and inconsistent. In this article we offer a single, coherent resource that contains all of the government financial data from 1967-2012, uses easy to understand natural-language variable names, and will be extended when new data is available.

Complications in financing new nuclear power plants

International Nuclear Information System (INIS)

Rubow, L.; Bataklieva, L.

2011-01-01

Historical Financing Approach; Recent Financing Complexities; Typical NPP Project Structure; Project Funding; Technical Developments; Financing Drivers; Conflicting Goals; Different Motivation/ Values: Public vs. Private and other financial aspects are discussed. Some suggestions for consideration are given, such as: Stronger involvement of Government. Stronger involvement of off takers as investors: – Large industrial entities – Utilities/ Distribution companies – Smaller, aggregated industrial entities. Return to corporate finance model (e.g. balance sheet based on existing operating assets), More creative BOO(T) structures, EPCM project execution structures; Better communication with outside stake holders, i.e., why nuclear is best option

THE USE OF COMPUTER APPLICATIONS IN THE STUDY OF ROMANIA'S PUBLIC DEBT

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Popeanga Vasile

2011-07-01

Full Text Available Total public debt represents all monetary obligations of the state (government, public institutions, financial, administrative-territorial units at a time, resulting from internal and external loans (in lei and foreign currencies contracted on short, medium and long term, and the state treasury and its own obligations for the amounts advanced temporarily to cover the budget deficit. Loans may be contracted by the state through the Ministry of Finance, in his own name or guaranteed by it. Public debt is expressed in local currency or foreign currency, depending on where the contracts and loan conditions. In order to evaluate Romania's public debt, obligations denominated in another currency than the national currency is calculated using the exchange rate of National Bank of Romania. Also, total public debt of a country can be expressed in absolute values (to know the load on that country's economy which is subject to its creditors, the relative values as a percentage of GDP (to allow comparison over time and between countries and the average size per capita (to allow comparisons and analysis in time and space. Total public debt is calculated and separately manages its two forms, namely domestic public debt and external public debt. Ministry of Finance shall prepare and submit annually to the Government for approval and to Parliament for information, report on public debt, which contains information on government debt portfolio, debt service, public indebtedness indicators and information about primary and secondary market securities state and how to implement the medium-term strategy in managing government debt for the previous year. In order to make comparisons quick and effective on public debt dynamics in Romania, Excel 2010 has new features such as charts and sparkline slicers features which can help discover trends and statistics in accordance with existing data. The aim of this article is accurate assessment of Romania's public debt and its

Financing rail capital projects : historical lessons, contemporary cases.

Science.gov (United States)

2012-11-01

Two large questions informed the research for this article: first, how and why did the mid20th century shift from private to public ownership, financing and operation of : passenger railways affect the subsequent financing and development of high ...

SMES' SECTOR ACCESS TO FINANCE: AN OVERVIEW

Directory of Open Access Journals (Sweden)

Roman Angela

2011-07-01

Full Text Available Through their contribution to the creation of added value and new jobs, the small and medium enterprises (SMEs have a significant role in the economic and social development of a country. However, these enterprises are facing numerous obstacles that limit their performance, growth and development. Among the difficulties faced by SMEs, the access to finance is often reported as a major obstacle to the deployment and expansion of their activity. The access to finance is crucial for efficient allocation of financial resources and entrepreneurial development, which explains the major interest given to this subject both by the academic literature and the policy makers. The paper aims to highlight the difficulties faced by SMEs in securing financing resources, emphasizing the differences between countries and also between SMEs and large enterprises. Knowing the difficulties in SMEs financing is essential for policy makers in order to design and implement appropriate measures, which will help to improve the access to financing for these enterprises. Thus, another issue addressed, synthetically, in this paper aims the measures taken by public authorities in order to support the access to financing for SMEs. The research methodology used in this paper starts with a literature review in order to highlight the importance of the subject addressed in our research. The analysis conducted in this paper is based on data and statistics provided mainly by the World Bank surveys, by certain empirical studies and by the National Council of Small and Medium Sized Private Enterprises in Romania. Based on the methodology used, the paper indicates the difficulties in SMEs financing and the crucial importance of enhancing the public authorities concerns regarding their alleviation, especially by adopting measures focused on increasing financial development, which would ensure greater availability of financing for businesses and thus economic growth. The limited

Moving From Policy to Implementation: A Methodology and Lessons Learned to Determine Eligibility for Healthy Food Financing Projects

Science.gov (United States)

Harries, Caroline; Koprak, Julia; Young, Candace; Weiss, Stephanie; Parker, Kathryn M.; Karpyn, Allison

2014-01-01

Public health obesity prevention experts have recently emphasized a policy systems and environmental change approach. Absent, however, are studies describing how practitioners transition from policy adoption to implementation. In the realm of food policy, financing programs to incentivize healthy food retail development in communities classified as “underserved” are underway at the local, state, and national levels. Implementing these policies requires a clear definition of eligibility for program applicants and policy administrators. This article outlines a methodology to establish eligibility for healthy food financing programs by describing the work of The Food Trust to coadminister programs in 3 distinct regions. To determine program eligibility, qualitative assessments of community fit are needed and national data sources must be locally verified. Our findings have broad implications for programs that assess need to allocate limited public/private financing resources. PMID:24594793

Are tax subsidies for private medical insurance self-financing? Evidence from a microsimulation model.

Science.gov (United States)

López Nicolás, Angel; Vera-Hernández, Marcos

2008-09-01

This paper develops an empirical strategy to estimate whether subsidies to private medical insurance are self-financing in countries where public and private insurance coexist and the latter covers the same treatments as the former. We construct a simulation routine based on a micro-econometric discrete choice model that allows us to evaluate the impact of premium changes on the utilization of outpatient and inpatient health care services. As an application, we estimate the budgetary effects of scrapping a subsidy from the purchase of individual private policies, using micro-data from Catalonia. Our results suggest that the subsidy is not self-financing. This result is driven by the fact that private medical insurance holders make concurrent use of public and private services, and by the price inelasticity of the demand for private policies.

APPLIED BEHAVIORAL FINANCE IN A POST-CRISIS ENVIRONMENT: EMOTIONAL FINANCE

Directory of Open Access Journals (Sweden)

ADRIAN MITROI

2014-05-01

Full Text Available In the pursuit of understanding the behavior of the market player, the basic argument relays on the supposition that the risk appetite increases exactly at the worst moment - when the capacity to assume additional risk decreases significantly. People view a sample randomly drawn from a population as highly representative and cvasi similar to the population in all its essential characteristics. They expect any two samples drawn from a particular population to be more similar to one another and to the population than is statistically justifiable. This behavior is different from the tenets of classic finance theory. The gap between from theory to the practice of Behavioral Finance (BiFi- nickname has direct application to the investment management practice. Students of Behavioral Finance can develop skills to be employed in their practices for their clients. Behavioral Finance can teach about mental, emotional, psychological and social biases that lead to mistakes and biases o market efficiency, pricing anomalies and other market dynamics and risk – return investment outcomes.

Statistics for Finance

DEFF Research Database (Denmark)

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...

Financing of the site search by a public corporation (organization model)

International Nuclear Information System (INIS)

Waldhoff, C.

2005-01-01

The topics of the paper are the modifcation of the radioactive waste final deposit concept and the financing form, corporations with compulsory membership, existing examples and their justification, special features of the final deposit corporation including limitations of the functional self-administration within the nuclear management and constitutional aspects of the financing

Public finances in Romania during and after the economic crisis 2008-2009

Directory of Open Access Journals (Sweden)

Stelian Dan CÂMPEAN

2015-05-01

Full Text Available The aim of this article is to present Romania’s problems and solutions during and after the economic crisis of 2008-2009. The paper starts with the definitions of public finances and economic crisis and also a brief description of Romania’s economy, continuing with a deeper analysis of the determinants and symptoms of the recession in the country, as well as the perspectives for further development. The financial assessment of Romania’s situation in the broader EU context can be understood by looking at the GDP and the country’s economic activities in relation to it, and by reviewing the information supplied by the National Bank of Romania and others institutions and selected literature. The article is complemented by author’s opinions.

An economic theory of Islamic finance

Directory of Open Access Journals (Sweden)

Mabid Ali Al-Jarhi

2017-07-01

Full Text Available Purpose - This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach - Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided. Findings - The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model. Islamic finance can therefore be a candidate as a reform agenda for conventional finance. It opens the door for significant monetary reform in currently prevalent economic systems. Research limitations/implications - The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions. They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application. The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance. Originality/value - The results are unique as they challenge the received doctrine and provide non-religious rationale for Islamic finance.

From theory to practice: what drives the core business of public health?

Science.gov (United States)

Smith, Tina Anderson; Minyard, Karen J; Parker, Christopher A; Van Valkenburg, Rachel Ferencik; Shoemaker, John A

2007-01-01

In 1994, the Public Health Functions Steering Committee proffered a description of the Essential Public Health Services (Essential Services). Questions remain, however, about the relationship between the roles defined therein and current public health practice at state and local levels. This case study describes the core business of public health in Georgia relative to the theoretical ideal and elucidates the primary drivers of the core business, thus providing data to inform future efforts to strengthen practice in the state. The principal finding was that public health in Georgia is not aligned with the Essential Services. Further analysis revealed that the primary drivers or determinants of public health practice are finance-related rather than based in need or strategy, precluding an integrated and intentional focus on health improvement. This case study provides a systems context for public health financing discussions, suggests leverage points for public health system change, and furthers the examination of applications for systems thinking relative to public health finance, practice, and policy.

Alternative windpower ownership structures: Financing terms and project costs

Energy Technology Data Exchange (ETDEWEB)

Wiser, R.; Kahn, E.

1996-05-01

Most utility-scale renewable energy projects in the United States are developed and financed by private renewable energy companies. Electric output is then sold to investor-owned and public utilities under long-term contracts. Limited partnerships, sale/leaseback arrangements, and project-financing have historically been the dominant forms of finance in the windpower industry, with project-finance taking the lead more recently. Although private ownership using project-finance is still the most popular form of windpower development, alternative approaches to ownership and financing are becoming more prevalent. U.S. public and investor-owned electric utilities (IOUs) have begun to participate directly in windpower projects by owning and financing their own facilities rather than purchasing windpower from independent non-utility generators (NUGs) through power purchase agreements (PPAs). In these utility-ownership arrangements, the wind turbine equipment vendor/developer typically designs and constructs a project under a turnkey contract for the eventual project owner (the utility). The utility will also frequently sign an operations and maintenance (O&M) contract with the project developer/equipment vendor. There appear to be a number of reasons for utility involvement in recent and planned U.S. wind projects. One important claim is that utility ownership and self-finance provides substantial cost savings compared to contracting with private NUGs to supply wind-generated power. In this report, we examine that assertion.

Behavioural Finance: Theory and Survey

Directory of Open Access Journals (Sweden)

Daiva Jurevičienė

2013-04-01

Full Text Available The paper analyses the importance of behavioural finance theories in household decision-making process. Behavioural finance theories investigate emotional characteristics to explain subjective factors and irrational anomalies in financial markets. In this regard, behavioural theories and behavioural anomalies in the decision-making process are examined; the application opportunities in the financial market are described. The aim of investigation is to determine the basic features and slopes of behavioural finance in concordance with financial decisions of a household. The survey method was applied to ascertain financial behaviour of literate households.

Game theory and applications in finance

NARCIS (Netherlands)

van Gulick, G.

2010-01-01

In finance, situations exist that give rise to allocation problems. Individuals combining their capital typically have more investment opportunities, and thus higher revenues. The proceeds of their investments have to be divided among those individuals. Also, banks and insurance companies face

7 CFR 3560.570 - Construction financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Construction financing. 3560.570 Section 3560.570 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, DEPARTMENT OF... financing. The requirements established in § 3560.71 apply to all applications involving off-farm labor...

7 CFR 3560.620 - Construction financing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Construction financing. 3560.620 Section 3560.620 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, DEPARTMENT OF... financing. The requirements established in § 3560.71 apply to all applications involving on-farm labor...

Behavioral finance: Finance with normal people

Directory of Open Access Journals (Sweden)

Meir Statman

2014-06-01

Behavioral finance substitutes normal people for the rational people in standard finance. It substitutes behavioral portfolio theory for mean-variance portfolio theory, and behavioral asset pricing model for the CAPM and other models where expected returns are determined only by risk. Behavioral finance also distinguishes rational markets from hard-to-beat markets in the discussion of efficient markets, a distinction that is often blurred in standard finance, and it examines why so many investors believe that it is easy to beat the market. Moreover, behavioral finance expands the domain of finance beyond portfolios, asset pricing, and market efficiency and is set to continue that expansion while adhering to the scientific rigor introduced by standard finance.

Development of Green Business as an Approach to Financing the Greening of Economy

Directory of Open Access Journals (Sweden)

Natal’ya Nikolaevna Yashalova

2016-11-01

Full Text Available The issues of green economy development are in the focus of attention of Russian and foreign scientists. Its formation was influenced by environmental activities financing sources. The article presents the description of budgetary and extra-budgetary environmental protection financing. Special attention is paid to the need to strengthen private financial support of environmentally determined activities, which can be implemented as part of development of ecopreneurship. The purpose of this article is to identify the trends in budgetary and extra-budgetary environmental protection financing and resource conservation in the Russian Federation and to rationalize theoretically the necessity of business participation in financing of environment-related business ideas, which is aimed at supporting the greening of economic activity at the regional level. The methods of empirical and statistical research, systematization and generalization of information have been used. SWOT analysis has identified the strengths and weaknesses of green business, as well as the opportunities for and threats to its development. The study systematizes the information on the sources of financing of environment-related activities, identifies their strengths and weaknesses, and analyzes statistical data on financial aspects of environmental protection. It has been established that the financing of environmental activities in the regions is carried out according to the residual principle; most of the sources of environment financing are unavailable to economic entities; indirect assistance in the implementation of environment-related management finds absolutely no application. The material presented in this paper can be used by public authorities in the development of measures to facilitate the transition to green economy and may also be applicable in the educational process. The authors conclude that the successful transition of Russian regions to the path of sustainable

Incorporating financial protection into decision rules for publicly financed healthcare treatments.

Science.gov (United States)

Smith, Peter C

2013-02-01

Almost all health systems seek to offer some form of publicly financed healthcare insurance, and governments must therefore choose the size of the benefit package and the types of treatments to cover. Conventionally, the usual approach of economists has been to recommend choices on the basis of cost effectiveness of treatments, using metrics such as the 'cost per quality adjusted life year'. However, this approach is based on the assumption of health maximization subject to a budget constraint and ignores the potential impact of any additional concern with protecting individuals from the financial consequences of a health shock. Furthermore, it does not take account of the possible availability of complementary privately funded health care. This paper develops a model in which risk-averse individuals care about health but also place a value on protection from the financial consequences of rare but costly events. The paper shows how conventional cost-effectiveness analysis can readily be augmented to take account of financial protection objectives. The results depend on whether or not there exists a market in complementary privately funded health care. They have important implications for the methodology adopted by health technology assessment agencies and for the broader design of publicly funded health systems. Copyright © 2012 John Wiley & Sons, Ltd.

The Finance of Non Government Schools in Bangladesh.

Science.gov (United States)

Puttick, Edwin B.; And Others

The educational system in Bangladesh is unique in its finance and management structure. Elementary and higher education are mostly publicly financed, while secondary and intermediate education are mainly private organized. This study concentrates on private schools at the secondary, intermediate, and college level; and the difference in access…

THE FINANCING OF HEALTH CARE IN UKRAINE

Directory of Open Access Journals (Sweden)

Liliia Savchuk

2016-03-01

Full Text Available In the article the peculiarities of financing healthcare in Ukraine. Analyzed various sources of funding for the sector. Health expenditure per capita of the population in Ukraine and around the world have been investigated. On the basis of the analysis found that the size of budget financing are inefficient and do not meet the resource needs of the industry. Clarified the problems of resource provision of health care and the shortcomings of public Finance mechanisms. Asked to review the existing allocation mechanism of the industry and the rapid transition to a model of budgetary-insurance medicine. Keywords: realm healthcare, financing sources, government budget, expenditure, insurance medicine. JEL: H 51

77 FR 1497 - Notice of Proposed Information for Public Comment for: Public/Private Partnerships for the Mixed...

Science.gov (United States)

2012-01-10

... diligence in order to approve the mixed-finance development of public housing prior to a financial closing... Information for Public Comment for: Public/ Private Partnerships for the Mixed-Finance Development of Public... comments on the subject proposal. The 1998 Public Housing Reform Act allowed the Mixed-Finance development...

Financing Universal Coverage in Malaysia: a case study

OpenAIRE

Chua, Hong Teck; Cheah, Julius Chee Ho

2012-01-01

One of the challenges to maintain an agenda for universal coverage and equitable health system is to develop effective structuring and management of health financing. Global experiences with different systems of health financing suggests that a strong public role in health financing is essential for health systems to protect the poor and health systems with the strongest state role are likely the more equitable and achieve better aggregate health outcomes. Using Malaysia as a case study, this...

Impact of Publicly Financed Health Insurance Schemes on Healthcare Utilization and Financial Risk Protection in India: A Systematic Review.

Science.gov (United States)

Prinja, Shankar; Chauhan, Akashdeep Singh; Karan, Anup; Kaur, Gunjeet; Kumar, Rajesh

2017-01-01

Several publicly financed health insurance schemes have been launched in India with the aim of providing universalizing health coverage (UHC). In this paper, we report the impact of publicly financed health insurance schemes on health service utilization, out-of-pocket (OOP) expenditure, financial risk protection and health status. Empirical research studies focussing on the impact or evaluation of publicly financed health insurance schemes in India were searched on PubMed, Google scholar, Ovid, Scopus, Embase and relevant websites. The studies were selected based on two stage screening PRISMA guidelines in which two researchers independently assessed the suitability and quality of the studies. The studies included in the review were divided into two groups i.e., with and without a comparison group. To assess the impact on utilization, OOP expenditure and health indicators, only the studies with a comparison group were reviewed. Out of 1265 articles screened after initial search, 43 studies were found eligible and reviewed in full text, finally yielding 14 studies which had a comparator group in their evaluation design. All the studies (n-7) focussing on utilization showed a positive effect in terms of increase in the consumption of health services with introduction of health insurance. About 70% studies (n-5) studies with a strong design and assessing financial risk protection showed no impact in reduction of OOP expenditures, while remaining 30% of evaluations (n-2), which particularly evaluated state sponsored health insurance schemes, reported a decline in OOP expenditure among the enrolled households. One study which evaluated impact on health outcome showed reduction in mortality among enrolled as compared to non-enrolled households, from conditions covered by the insurance scheme. While utilization of healthcare did improve among those enrolled in the scheme, there is no clear evidence yet to suggest that these have resulted in reduced OOP expenditures or

Clusters Regarding Key Factors Affecting Changes in Accounting, Finance, Administration and Management Control

Directory of Open Access Journals (Sweden)

Rodica Gabriela Blidisel

2010-01-01

Full Text Available During the last decade, important changes have occurred in public governance, which has evolved in this time from hierarchical bureaucracy to participatory governance, where the role of citizens in public decision-making process is more direct. There were performed reforms in finance, management administration and finances of public sector. Starting from the factors that influenced during the history the accounting, finances, administration and management control, we want to test the factors that affect the changes of these elements in Romanian environment.

Publication misrepresentation among anesthesiology residency applicants.

Science.gov (United States)

Neuman, Stephanie A; Long, Timothy R; Rose, Steven H

2011-03-01

Publication misrepresentation has been documented among applicants for residency positions in several specialties. However, these data are not available for anesthesiology applicants. Our purpose in this study was to document the prevalence of publication misrepresentation among applicants to a single anesthesiology residency, to compare anesthesiology publication misrepresentation data with similar data in other specialties, and to determine how often publication misrepresentation leads to an unfair competitive advantage in the application process. Applications to the Mayo School of Graduate Medical Education anesthesiology core residency in Rochester, Minnesota, were reviewed for publication misrepresentations using Medline and PubMed databases, Mayo Clinic library databases, and/or review by a qualified medical librarian. Misrepresented publications underwent further review to identify fraudulent publications and/or citation errors that provide an unfair competitive advantage. The authors found that 2.4% of the applications (13 of 532) included fraudulent publications, 6.6% of the applications with at least 1 publication (13 of 197) included ≥1 that was fraudulent, and 2.9% of all cited publications (15 of 522) were fraudulent. In addition, 0.9% of the applications (5 of 532) contained a citation error that, although not grossly fraudulent, could have favorably affected the applicant's competitiveness for a residency position. Misrepresented publications were fairly common among anesthesiology residency applicants. However, only a small percentage of applicants listed misrepresented publications that were clearly fraudulent or contained a citation error that conferred a competitive advantage. Identification of fraudulent publications on Electronic Residency Application Service applications is important to maintain the integrity of the application process.

Information,Informal finance,and SME financing

Institute of Scientific and Technical Information of China (English)

LIN Justin Yifu; SUN Xifang

2006-01-01

Informal finance exists extensively and has been playing an important role in small-and medium-sized enterprise (SME) financing in developing economies,This paper tries to rationalize the extensiveness of informal finance.SME financing suffers more serious information asymmetry to the extent that most SMEs are more opaque and can only provide less collateral.Informal lenders have an advantage over formal financial institutions in collecting "soft information" about SME borrowers.This paper establishes a model including formal and informal lenders and high-and low-risk borrowers with or without sufficient collateral and shows that the credit market in which informal finance is eliminated will allocate funds in some inefficient way,and the efficiency of allocating credit funds can be improved once informal finance is allowed to coexist with formal finance.

Is health care financing in Uganda equitable?

Science.gov (United States)

Zikusooka, C M; Kyomuhang, R; Orem, J N; Tumwine, M

2009-10-01

Health care financing provides the resources and economic incentives for operating health systems and is a key determinant of health system performance. Equitable financing is based on: financial protection, progressive financing and cross-subsidies. This paper describes Uganda's health care financing landscape and documents the key equity issues associated with the current financing mechanisms. We extensively reviewed government documents and relevant literature and conducted key informant interviews, with the aim of assessing whether Uganda's health care financing mechanisms exhibited the key principles of fair financing. Uganda's health sector remains significantly under-funded, mainly relying on private sources of financing, especially out-of-pocket spending. At 9.6 % of total government expenditure, public spending on health is far below the Abuja target of 15% that GoU committed to. Prepayments form a small proportion of funding for Uganda's health sector. There is limited cross-subsidisation and high fragmentation within and between health financing mechanisms, mainly due to high reliance on out-of-pocket payments and limited prepayment mechanisms. Without compulsory health insurance and low coverage of private health insurance, Uganda has limited pooling of resources, and hence minimal cross-subsidisation. Although tax revenue is equitable, the remaining financing mechanisms for Uganda are inequitable due to their regressive nature, their lack of financial protection and limited cross-subsidisation. Overall, Uganda's current health financing is inequitable and fragmented. The government should take explicit action to promote equitable health care financing by establishing pre-payment schemes, enhancing cross-subsidisation mechanisms and through appropriate integration of financing mechanisms.

Innovative Forms of Financing the Creation and Development of Small Business

Directory of Open Access Journals (Sweden)

Yermak Svitlana O.

2017-06-01

Full Text Available For small enterprises, unlike large ones, the issue of fundraising emerges both in the process of their creation, development and current activity. Small enterprises are experiencing quite a high demand for additional sources of financing. The aim of the research is to study innovative forms of financing the creation and development of small enterprises, their advantages and disadvantages. At present in addition to traditional ways of raising capital, such as bank loans or public offering of shares among external investors (IPOs, there exist a number of alternative options. Among them the most common are grants, international programs, loans from international banks and financial institutions, such as EBRD (European Bank for Reconstruction and Development, IFC (International Finance Corporation, NEFCO (Nordic Environment Finance Corporation, KfW (Kreditanstalt f?r Wiederaufbau, fundraising, crowdsourcing, crowdfunding, and angel investment. The article studies in detail the last two ways of financing: their essence, components, positive and negative features, experience of application in Ukraine and the world. The research shows that crowdfunding is suitable for business development at the early stages, that is, for those enterprises that require, for example, to complete prototyping and start mass production of their first product. Business angels can be a good choice for enterprises that already have a permanent customer base and want to grow their business.

Social security financing.

Science.gov (United States)

1980-05-01

After nearly 2 years of study, the 1979 Advisory Council on Social Security submitted its findings and recommendations in December. In February the Bulletin published the Executive Summary of the Council's report. Because of the continuing wide public interest in the future of social security financing, the Council's detailed findings and recommendations on that subject are published below. The Council unanimously reports that all current and future beneficiaries can count on receiving the payments to which they are entitled. Among the recommendations it calls for are partial financing with nonpayroll-tax revenues. Suggested changes include hospital insurance (HI) financed through portins of personal and corporate income taxes and a part of the HI insurance payroll tax diverted to cash benefits with the balance of this tax repealed. The Council also recommends that the social security cash benefits program be brought into long-run actuarial balance--with a payroll-tax rate increase in the year 2005. It rejects the idea of a value-added tax as being inflationary. Parenthetical remarks represent additional views of the Council members cited.

Financial and Economic Crisis and Corporate Finance Development

Institute of Scientific and Technical Information of China (English)

LI Xinhe

2015-01-01

Financial and economic crisis has challenged the ideological and methodological basis,the basic assumptions and the universal applicability of the research conclusions of the mainstream corporate finance.In order to construct corporate finance appropriate to the state of financial crisis,it is necessary to adjust the objective function of corporate finance,modify the corporate financing theory,extend corporate investment theory,enrich corporate working capital management theory,and adjust corporate dividend policy theory.

Human Rights and the Political Economy of Universal Health Care: Designing Equitable Financing.

Science.gov (United States)

Rudiger, Anja

2016-12-01

Health system financing is a critical factor in securing universal health care and achieving equity in access and payment. The human rights framework offers valuable guidance for designing a financing strategy that meets these goals. This article presents a rights-based approach to health care financing developed by the human right to health care movement in the United States. Grounded in a human rights analysis of private, market-based health insurance, advocates make the case for public financing through progressive taxation. Financing mechanisms are measured against the twin goals of guaranteeing access to care and advancing economic equity. The added focus on the redistributive potential of health care financing recasts health reform as an economic policy intervention that can help fulfill broader economic and social rights obligations. Based on a review of recent universal health care reform efforts in the state of Vermont, this article reports on a rights-based public financing plan and model, which includes a new business tax directed against wage disparities. The modeling results suggest that a health system financed through equitable taxation could produce significant redistributive effects, thus increasing economic equity while generating sufficient funds to provide comprehensive health care as a universal public good.

Directory of financing sources for foreign energy projects

Energy Technology Data Exchange (ETDEWEB)

La Ferla, L. [La Ferla Associates, Washington, DC (United States)

1995-09-01

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.

IMPACT OF POLICIES AND PUBLIC FINANCING INSTRUMENTS ON R&D INVESTMENTS

Directory of Open Access Journals (Sweden)

Steliana SANDU

2007-06-01

Full Text Available This paper is based on the Romania country review, produced as internal working papers for the research project “Monitoring and analysis of policies and public financing instruments conducive to higher levels of R&D investment”. The aim of the project is to serve as support for policy developments in Europe, notably in the framework of CREST activities. It is running by a consortium of 7 partners:· UNU-MERIT (The Netherlands, consortium leader·Technopolis (The Netherlands· PREST – University of Manchester (United Kingdom· ZEW (Germany· Joanneum Research (Austria· Wiseguys Ltd. (United Kingdom and INTRASOFT International (Luxembourg. Each country review provides expert’s view on the policy mix and its is to provide an exploratory analysis of the current policy mixes in place and detect the most important areas of interactions between instruments as well as new modes of policy governance that are particularly adapted (or detrimental for the building of policy mixes.

Issues to improve the prospects of financing nuclear power plants

International Nuclear Information System (INIS)

2009-01-01

A changing global environment with increasing energy consumption and a need for international energy security is influencing nuclear power projects and the means of obtaining financial backing for such projects. The development of a national nuclear infrastructure can provide significant benefits that influence financial resources. The effects of other factors - such as financing arrangements for capital intensive plants, international design acceptance, harmonization of codes and standards, and assurances of fuel cycle services - need to be considered. An improvement in international cooperation may lower investment risks and contribute to reducing costs. The effects of all these issues need to be assessed and means for supporting the application of nuclear power in the current changing social and commercial environment need to be developed. A key question addressed in this publication is whether financing is the real barrier to nuclear power development or if financing difficulties are simply a consequence of other barriers. It recognizes that there is no single solution and that circumstances in different countries, with different starting points, ambitions and drivers, inevitably affect the balance of approaches followed. The importance of credible, practical, costed and substantiated plans is emphasized. Risks have to be mitigated through an effective strategy and the allocation of risks between parties must be logical. A project has to be demonstrably viable to attract financing. There are three broad areas which must be addressed to improve prospects of investment in nuclear power reactor construction. The first area, and probably the most important, is government and utility commitment and preparedness to adopt and implement a nuclear power programme using internationally recognized standards of safety. The second area is the application of lessons learned from technological and project developments. The third area is financing itself. The conclusions

Specialized financing techniques

International Nuclear Information System (INIS)

Shepherd, J.

1992-01-01

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

How Do Companies Finance Their Acquisitions in UK?

OpenAIRE

Sethia, Lakshya

2009-01-01

This research studies the mergers and acquisitions of publically listed bidder’s in the UK between the periods of 2001-2004. The study explores the various factors on which the bidder decides on the sources of financing the M&A. It explains the difference between the means of payment and the sources of financing. A widespread hand-collected dataset is used to see that the financing decision of the bidder is affected by the bidder/target and the deal features. The research uses uni...

Financing state newborn screening programs: sources and uses of funds.

Science.gov (United States)

Johnson, Kay; Lloyd-Puryear, Michele A; Mann, Marie Y; Ramos, Lauren Raskin; Therrell, Bradford L

2006-05-01

Financing for newborn screening is different from virtually all other public health programs. All except 5 screening programs collect fees as the primary source of program funding. A fee-based approach to financing newborn screening has been adopted by most states, to ensure consistent funding for this critical public health activity. Two types of data are reported here, ie, primary data from a survey of 37 state public health agencies and findings from exploratory case studies from 7 states. Most of the programs that participated in this survey (73%) reported that their newborn screening funding increased between 2002 and 2005, typically through increased fees and to a lesser extent through Medicaid, Title V Maternal and Child Health Services Block Grant, and state general revenue funding. All of the responding states that collect fees (n = 31) use such funds to support laboratory expenses, and most (70%) finance short-term follow-up services and program management. Nearly one half (47%) finance longer-term follow-up services, case management, or family support beyond diagnosis. Other states (43%) finance genetic or nutritional counseling and formula foods or treatment. Regardless of the source of funds, the available evidence indicates that states are committed to maintaining their programs and securing the necessary financing for the initial screening through diagnosis. Use of federal funding is currently limited; however, pressure to provide dedicated federal funding would likely increase if national recommendations for a uniform newborn screening panel were issued.

Private Finance 2 (PF2): Re-inventing the Wheel?

Science.gov (United States)

Zawawi, N. A. W. A.; Abdul-Aziz, A. R.; Khamidi, M. F.; Othman, I.; Idrus, A.; Umar, A. A.

2013-06-01

The Procurement policy of any government is the most influential factor in determining the efficiency of infrastructure and service provision like roads, water supply and energy. The UK's HM Treasury released its new guidelines on private involvement in infrastructures provision and services towards reforming the popular Private Finance Initiatives (PFI) policy. This new approach, it now refers to as the Private Finance 2 (PF2) is meant to correct the imperfections which have bedeviled the older version-PFI. However, the 'new guidelines' contained nothing really new in the area of private financing and operation of public infrastructures, at best it is akin to 're-inventing the wheel' rather than being 'new'. While dwelling extensively on issues relating to cheaper financing sources, risks transfer, counterpart funding by government and improving public sector procurement skills, this paper argues that some countries in the developing world have long recognised these issues and taken practical steps to correct them.

Private Finance 2 (PF2): Re-inventing the Wheel?

International Nuclear Information System (INIS)

Zawawi, N A W A; Khamidi, M F; Othman, I; Umar, A A; Abdul-Aziz, A R; Idrus, A

2013-01-01

The Procurement policy of any government is the most influential factor in determining the efficiency of infrastructure and service provision like roads, water supply and energy. The UK's HM Treasury released its new guidelines on private involvement in infrastructures provision and services towards reforming the popular Private Finance Initiatives (PFI) policy. This new approach, it now refers to as the Private Finance 2 (PF2) is meant to correct the imperfections which have bedeviled the older version-PFI. However, the 'new guidelines' contained nothing really new in the area of private financing and operation of public infrastructures, at best it is akin to 're-inventing the wheel' rather than being 'new'. While dwelling extensively on issues relating to cheaper financing sources, risks transfer, counterpart funding by government and improving public sector procurement skills, this paper argues that some countries in the developing world have long recognised these issues and taken practical steps to correct them.

Central Statistical Office as a source of information that is relevant in determining the state of the public finances of the Republic of Poland. The financial management of the Central Statistical Office

Directory of Open Access Journals (Sweden)

Wojciech Bożek

2016-09-01

Full Text Available In the elaboration the author discussed the meaning of the public statistics in public finances, the structure and the financial activity of the Central Statistical Office (CSO and other units of public sector, which is related with it. Besides, the author indicates example of legal solutions in the Polish order financial which underlines the importance and actualness of undertaken subject matter. Also, the author underlines the meaning of the public statistics in the process of the efficient financial management public and conducts of the transparent economy with public measures. The author constates that the catalogue of tasks of CSO, from the perspective of public finance, is extensive and dynamic.

Modelling the impact of raising tobacco taxes on public health and finance.

Science.gov (United States)

Goodchild, Mark; Perucic, Anne-Marie; Nargis, Nigar

2016-04-01

To investigate the potential for tobacco tax to contribute to the 2030 agenda for sustainable development by reducing tobacco use, saving lives and generating tax revenues. A model of the global cigarette market in 2014--developed using data for 181 countries--was used to quantify the impact of raising cigarette excise in each country by one international dollar (I$) per 20-cigarette pack. All currencies were converted into I$ using purchasing power parity exchange rates. The results were summarized by income group and region. According to our model, the tax increase would lead the mean retail price of cigarettes to increase by 42%--from 3.20 to 4.55 I$ per 20-cigarette pack. The prevalence of daily smoking would fall by 9%--from 14.1% to 12.9% of adults--resulting in 66 million fewer smokers and 15 million fewer smoking-attributable deaths among the adults who were alive in 2014. Cigarette excise revenue would increase by 47%--from 402 billion to 593 billion I$--giving an extra 190 billion I$s in revenue. This, in turn, could help create the fiscal space required to finance development priorities. For example, if the extra revenue was allocated to health budgets, public expenditure on health could increase by 4% globally. Tobacco taxation can prevent millions of smoking-attributable deaths throughout the world and contribute to achieving the sustainable development goals. There is also potential for tobacco taxation to create the fiscal space needed to finance development, particularly in low- and middle-income countries.

FINANCING CULTURE INSTITUTIONS IN EUROPEAN CONTEXT

Directory of Open Access Journals (Sweden)

Cezar Corneliu MANDA

2017-05-01

Full Text Available The paper, on the coordinates of the analysis of the problematic of financing culture institutions within the European Union member states, performs a comparative analysis focused on the financing mechanism available to the cultural sector, created both at the level of the public, and of the private sector. For the comparative analysis, the paper selected several EU member states, grouped on four geographical areas (North, South, East and Center. The analysis performed in the paper emphasized that most EU member states make significant efforts to finance the cultural sector, but the effects of the economic crisis have had a negative impact on this financing, causing, from this perspective, a gap between the states in the north and center of the EU, on the one hand, and the states in the south and east of the EU, on the other hand and outlining a cultural Europe with two peripheries.

Guideposts for Low Carbon Finance

International Nuclear Information System (INIS)

Pizer, Billy

2015-01-01

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

Maximising the value of supply chain finance

NARCIS (Netherlands)

Vliet, van der K.; Reindorp, M.J.; Fransoo, J.C.

2013-01-01

Supply Chain Finance (SCF) arrangements aim to add value by taking a cooperative approach to financing the supply chain. Interest in SCF has been increasing, and decision makers need a comprehensive view of possible applications and their potential. By means of theoretical and empirical exploration,

Taking a Step Forward in Public Health Finance: Establishing Standards for a Uniform Chart of Accounts Crosswalk.

Science.gov (United States)

Honoré, Peggy A; Leider, Jonathon P; Singletary, Vivian; Ross, David A

2015-01-01

In its 2012 report on the current and future states of public health finance, the Institute of Medicine noted, with concern, the relative lack of capacity for practitioners and researchers alike to make comparisons between health department expenditures across the country. This is due in part to different accounting systems, service portfolios, and state- or agency-specific reporting requirements. The Institute of Medicine called for a uniform chart of accounts, perhaps building on existing efforts such as the Public Health Uniform National Data Systems (PHUND$). Shortly thereafter, a group was convened to work with public health practitioners and researchers to develop a uniform chart of accounts crosswalk. A year-long process was undertaken to create the crosswalk. This commentary discusses that process, challenges encountered along the way and provides a draft crosswalk in line with the Foundational Public Health Services model that, if used by health departments, could allow for meaningful comparisons between agencies.

PFI redux? Assessing a new model for financing hospitals.

Science.gov (United States)

Hellowell, Mark

2013-11-01

There is a growing need for investments in hospital facilities to improve the efficiency and quality of health services. In recent years, publicly financed hospital organisations in many countries have utilised private finance arrangements, variously called private finance initiatives (PFIs), public-private partnerships (PPPs) or P3s, to address their capital requirements. However, such projects have become more difficult to implement since the onset of the global financial crisis, which has led to a reduction in the supply of debt capital and an increase in its price. In December 2012, the government of the United Kingdom outlined a comprehensive set of reforms to the private finance model in order to revive this important source of capital for hospital investments. This article provides a critical assessment of the 'Private Finance 2' reforms, focusing on their likely impact on the supply and cost of capital. It concludes that constraints in supply are likely to continue, in part due to regulatory constraints facing both commercial banks and institutional investors, while the cost of capital is likely to increase, at least in the short term. Copyright © 2013 Elsevier Ireland Ltd. All rights reserved.

Natural Computing in Computational Finance Volume 4

CERN Document Server

O’Neill, Michael; Maringer, Dietmar

2012-01-01

This book follows on from Natural Computing in Computational Finance  Volumes I, II and III.   As in the previous volumes of this series, the  book consists of a series of  chapters each of  which was selected following a rigorous, peer-reviewed, selection process.  The chapters illustrate the application of a range of cutting-edge natural  computing and agent-based methodologies in computational finance and economics.  The applications explored include  option model calibration, financial trend reversal detection, enhanced indexation, algorithmic trading,  corporate payout determination and agent-based modeling of liquidity costs, and trade strategy adaptation.  While describing cutting edge applications, the chapters are  written so that they are accessible to a wide audience. Hence, they should be of interest  to academics, students and practitioners in the fields of computational finance and  economics.  

Finance computationnelle et gestion des risques ingénierie financière avec applications Excel (Visual Basic) et Matlab

CERN Document Server

Racicot, François-Éric

2006-01-01

Ce manuel propose un exposé rigoureux de la gestion des risques en finance. Les aspects théoriques de la question sont abordés par des démonstrations claires et des rappels élaborés des bases mathématiques de la finance computationnelle. Le texte est émaillé de nombreux programmes écrits en langages Visual Basic (Excel), Matlab et EViews qui prépareront l'étudiant à sa carrière de spécialiste en ingénierie financière.

Health care financing in Nigeria: Implications for achieving universal health coverage.

Science.gov (United States)

Uzochukwu, B S C; Ughasoro, M D; Etiaba, E; Okwuosa, C; Envuladu, E; Onwujekwe, O E

2015-01-01

The way a country finances its health care system is a critical determinant for reaching universal health coverage (UHC). This is so because it determines whether the health services that are available are affordable to those that need them. In Nigeria, the health sector is financed through different sources and mechanisms. The difference in the proportionate contribution from these stated sources determine the extent to which such health sector will go in achieving successful health care financing system. Unfortunately, in Nigeria, achieving the correct blend of these sources remains a challenge. This review draws on relevant literature to provide an overview and the state of health care financing in Nigeria, including policies in place to enhance healthcare financing. We searched PubMed, Medline, The Cochrane Library, Popline, Science Direct and WHO Library Database with search terms that included, but were not restricted to health care financing Nigeria, public health financing, financing health and financing policies. Further publications were identified from references cited in relevant articles and reports. We reviewed only papers published in English. No date restrictions were placed on searches. It notes that health care in Nigeria is financed through different sources including but not limited to tax revenue, out-of-pocket payments (OOPs), donor funding, and health insurance (social and community). In the face of achieving UHC, achieving successful health care financing system continues to be a challenge in Nigeria and concludes that to achieve universal coverage using health financing as the strategy, there is a dire need to review the system of financing health and ensure that resources are used more efficiently while at the same time removing financial barriers to access by shifting focus from OOPs to other hidden resources. There is also need to give presidential assent to the national health bill and its prompt implementation when signed into law.

THE ROLE OF THE STATE IN ADAM SMITH’S THOUGHT SYSTEM AND MODERN PUBLIC FINANCE THEORY: A COMPARATIVE EVALUATION

Directory of Open Access Journals (Sweden)

Turan YAY

2010-07-01

Full Text Available What are the main functions of the state? Which functions must be fulfilled by the state, which functions must be not? How should the state fulfill these responsibilities? What must be the main principles of the state, related to public expenditures, taxation and debt policies? In this paper, the place of the role and functions of the state in Adam Smith’s thought system will be discussed. In this context, especially the related parts of the Wealth of Nations and Lectures on Jurisprudence will be focused on and evaluated in the light of contemporary public finance theory

Economic impact of land finance and subsequent risk response

Institute of Scientific and Technical Information of China (English)

Lü Wei; Xu Hongwei

2014-01-01

In China,land finance is actually an endogenous factor in economic growth.As a kind of nontraditional,informal government revenue in China's economic transition process,land finance is unstable,non-standard and unsustainable,and it simultaneously makes the current land-finance dependent growth mode difficult to maintain.The paper firstly analyzes the impact of the land finance on China's economic growth and economic structure change followed by discussing the possible risks in post-"land finance" period.It then put forward some suggestions to deal with the problem.The analysis shows that land finance exacerbates the economic fluctuation,bringing in the increase of government public expenditure and economic growth in the short term.Nonetheless,in the long term there is no significant effect,and it could gradually lead to a more unreasonable economic structure.In the post-"land finance" period,if we do not take precautions in advance,it will restrain the sustainable development of China's economy and society.

Exploring alternatives for financing health care in Ethiopia: An ...

African Journals Online (AJOL)

In addition, the newly adopted health care financing strategy was looked at from the perspective of policy analysis. Results: Health financing has been a major challenge for Ethiopia. The prospect of relying solely on public resources seems impractical and the absolute total expenditure on health is quite a small fraction of ...

Entangled geographies of "Irish" finance

NARCIS (Netherlands)

Hendrikse, R.P.

2013-01-01

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

Accessing international financing for climate change mitigation - A guidebook for developing countries

Energy Technology Data Exchange (ETDEWEB)

Limaye, D.R.; Zhu, X.

2012-08-15

This guidebook has been prepared by the UNEP Risoe Centre (URC) as part of its Technology Needs Assessment (TNA) project. The TNA project assists developing countries to identify national mitigation and adaptation technology priorities and to develop Technology Action Plans (TAPs) for mitigation of greenhouse gas (GHG) emissions and climate change adaptation. This guidebook provides information to help TNA countries better identify and access financial resources for the mitigation activities included in their national TAPs. This guidebook covers both mitigation 'projects' (such as a wind farm or a solar PV generation facility) and 'programmes' (such as a credit line for financing energy efficiency projects in small and medium-sized enterprises (SMEs), or bulk procurement and distribution of compact fluorescent lamps to households). The primary emphasis is on multilateral and bilateral sources of financing but the guidebook also includes an overview of private funding sources and public-private partnerships (PPPs). This guidebook only covers international financing for mitigation actions in developing countries. For example, EU funding for EU member countries and Chinese funding for mitigation in China are not covered in this guidebook. However, the EU funding for mitigation in developing countries and Chinese funding supporting mitigation in other developing countries are included. Special funds established in some developing countries by pooling financing support from developed countries are also covered in this guidebook. Information on the financing sources was compiled in a standard format and reviewed and analysed to categorise the financing sources. For the multilateral and bilateral financing sources, the available information was used to define their major characteristics (such as geographic coverage, technology/sector focus, funding sources, financing objectives, financing mechanisms, and management and governance). In addition, the

Modelling the impact of raising tobacco taxes on public health and finance

Science.gov (United States)

Perucic, Anne-Marie; Nargis, Nigar

2016-01-01

Abstract Objective To investigate the potential for tobacco tax to contribute to the 2030 agenda for sustainable development by reducing tobacco use, saving lives and generating tax revenues. Methods A model of the global cigarette market in 2014 – developed using data for 181 countries – was used to quantify the impact of raising cigarette excise in each country by one international dollar (I$) per 20-cigarette pack. All currencies were converted into I$ using purchasing power parity exchange rates. The results were summarized by income group and region. Findings According to our model, the tax increase would lead the mean retail price of cigarettes to increase by 42% – from 3.20 to 4.55 I$ per 20-cigarette pack. The prevalence of daily smoking would fall by 9% – from 14.1% to 12.9% of adults – resulting in 66 million fewer smokers and 15 million fewer smoking-attributable deaths among the adults who were alive in 2014. Cigarette excise revenue would increase by 47% – from 402 billion to 593 billion I$ – giving an extra 190 billion I$s in revenue. This, in turn, could help create the fiscal space required to finance development priorities. For example, if the extra revenue was allocated to health budgets, public expenditure on health could increase by 4% globally. Conclusion Tobacco taxation can prevent millions of smoking-attributable deaths throughout the world and contribute to achieving the sustainable development goals. There is also potential for tobacco taxation to create the fiscal space needed to finance development, particularly in low- and middle-income countries. PMID:27034518

From Statehouse to Schoolhouse: Education Finance Apportionment Systems in the United States

Science.gov (United States)

Verstegen, Deborah A.; Knoeppel, Robert C.

2012-01-01

This research investigates state finance policies for public elementary and secondary education using survey methodology. The purpose is to update the existing knowledge base in the field as well as to provide a compendium of finance and policy options that are being used across the states to finance school for lawmakers, educators and others.…

Debt financing structure within the state-owned corporations in Kenya

Directory of Open Access Journals (Sweden)

Micah Odhiambo Nyamita

2015-05-01

Full Text Available The current public sector financial management reforms agenda within the state-owned corporations in Kenya aimed at integrating and aligning their performance to vision 2030, has not yet achieved the traction required. This study, therefore, examined the different types of debt financing strategies applied by the various state-owned corporations in Kenya, in comparison to those applied by state-owned corporations from developed and developing economies. The study specifically revealed that private debt financing, through bank loans and payables is commonly used amongst Kenyan state-owned corporations. While, most state-owned corporations from developed and developing economies, such as in America, Europe, Asia and South Africa, use public debt financing, through financial securities, traded in both domestic and international capital markets.

Access to finance from different finance provider types

NARCIS (Netherlands)

Wulandari, Eliana; Meuwissen, Miranda P.M.; Karmana, Maman H.; Oude Lansink, Alfons G.J.M.

2017-01-01

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

PPP as a modern concept for providing public goods and services and its application in Serbia

Directory of Open Access Journals (Sweden)

Drljača-Kanazir Svetlana

2015-01-01

Full Text Available Public-private partnership (hereinafter: PPP is an unconventional and modern pattern used to finance the construction and exploitation of public goods, which introduces the market based principles of operation in the public sector in the leading word economies as a result of market deregulation and liberalization. The purpose of this paper is to present the basic PPP characteristics, models of funding, and to highlight that this concept of financing the public goods and services is not sufficiently used in Serbia despite the fact that the necessary legal framework and educated staff in the public private and financial sectors, and active promotion of the concept as such are in place. This paper is intended to point that PPP is the only sustainable model of public infrastructure development (roads, tunnels, bridges, power generation plants, etc. in Serbia which is struggling with the significant budget deficit, huge public debt, high unemployment rate and a stagnating economy.

Energy Finance Data Warehouse Manual

Energy Technology Data Exchange (ETDEWEB)

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)

2016-11-30

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.

Long-term care financing: lessons from France.

Science.gov (United States)

Doty, Pamela; Nadash, Pamela; Racco, Nathalie

2015-06-01

POLICY POINTS: France's model of third-party coverage for long-term services and supports (LTSS) combines a steeply income-adjusted universal public program for people 60 or older with voluntary supplemental private insurance. French and US policies differ: the former pay cash; premiums are lower; and take-up rates are higher, in part because employer sponsorship, with and without subsidization, is more common-but also because coverage targets higher levels of need and pays a smaller proportion of costs. Such inexpensive, bare-bones private coverage, especially if marketed as a supplement to a limited public benefit, would be more affordable to those Americans currently most at risk of "spending down" to Medicaid. An aging population leads to a growing demand for long-term services and supports (LTSS). In 2002, France introduced universal, income-adjusted, public long-term care coverage for adults 60 and older, whereas the United States funds means-tested benefits only. Both countries have private long-term care insurance (LTCI) markets: American policies create alternatives to out-of-pocket spending and protect purchasers from relying on Medicaid. Sales, however, have stagnated, and the market's viability is uncertain. In France, private LTCI supplements public coverage, and sales are growing, although its potential to alleviate the long-term care financing problem is unclear. We explore whether France's very different approach to structuring public and private financing for long-term care could inform the United States' long-term care financing reform efforts. We consulted insurance experts and conducted a detailed review of public reports, academic studies, and other documents to understand the public and private LTCI systems in France, their advantages and disadvantages, and the factors affecting their development. France provides universal public coverage for paid assistance with functional dependency for people 60 and older. Benefits are steeply income

Organization And Financing Models Of Health Service In Selected Countries

Directory of Open Access Journals (Sweden)

Branimir Marković

2009-07-01

Full Text Available The introductory part of the work gives a short theoretical presentation regarding possible financing models of health services in the world. In the applicative part of the work we shall present the basic practical models of financing health services in the countries that are the leaders of classic methods of health services financing, e. g. the USA, Great Britain, Germany and Croatia. Working out the applicative part of the work we gave the greatest significance to analysis of some macroeconomic indicators in health services (tendency of total health consumption in relation to GDP, average consumption per insured person etc., to structure analysis of health insurance and just to the scheme of health service organization and financing. We presume that each model of health service financing contains certain limitations that can cause problem (weak organization, increase of expenses etc.. This is the reason why we, in the applicative part of the work, paid a special attention to analysis of financial difficulties in the health sector and pointed to the needs and possibilities of solving them through possible reform measures. The end part of the work aims to point out to advantages and disadvantages of individual financing sources through the comparison method (budgetary – taxes or social health insurance – contributions.

Models of public-private engagement for health services delivery and financing in Southern Africa: a systematic review.

Science.gov (United States)

Whyle, Eleanor Beth; Olivier, Jill

2016-12-01

In low- and middle-income countries (LMICs), the private sector-including international donors, non-governmental organizations, for-profit providers and traditional healers-plays a significant role in health financing and delivery. The use of the private sector in furthering public health goals is increasingly common. By working with the private sector through public -: private engagement (PPE), states can harness private sector resources to further public health goals. PPE initiatives can take a variety of forms and understanding of these models is limited. This paper presents the results of a Campbell systematic literature review conducted to establish the types and the prevalence of PPE projects for health service delivery and financing in Southern Africa. PPE initiatives identified through the review were categorized according to a PPE typology. The review reveals that the full range of PPE models, eight distinct models, are utilized in the Southern African context. The distribution of the available evidence-including significant gaps in the literature-is discussed, and key considerations for researchers, implementers, and current and potential PPE partners are presented. It was found that the literature is disproportionately representative of PPE initiatives located in South Africa, and of those that involve for-profit partners and international donors. A significant gap in the literature identified through the study is the scarcity of information regarding the relationship between international donors and national governments. This information is key to strengthening these partnerships, improving partnership outcomes and capacitating recipient countries. The need for research that disaggregates PPE models and investigates PPE functioning in context is demonstrated. © The Author 2016. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Application of Sharī‘ah contracts in contemporary Islamic finance: A maqāṣid perspective

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Younes Soualhi

2015-12-01

Full Text Available This research exposes the underlying maqāṣid embedded in Sharī‘ah contracts as applied in Islamic banking and finance. It addresses the problem of not observing maqāṣid in nominated and combined Sharī‘ah contracts as well as the problem of not sufficiently imbuing maqāṣid in products developed by Islamic financial institutions. As a benchmark of the maqāṣid of wealth, the research adopts Ibn ‘Āshūr’s classification of maqāṣid to evaluate the conformity of Sharī‘ah contracts to Maqāṣid al-Sharī‘ah namely, justice, circulation, transparency, and firmness. The study focuses on three markets related to the application of Sharī‘ah contracts, namely, banking, Islamic capital market, and takāful. The study concludes that, by and large, the application of Sharī‘ah contracts has observed Maqāṣid al-Sharī‘ah during its development and initial application stages of Islamic finance products; however, offering such products in the market has raised economic questions as to their viability and economic values. In addition, the malpractice of some Sharī‘ah contracts has long raised concerns as to the maqāṣid compliance of such products. The research recommends a de-sophistication of Islamic financial engineering to minimise the possibility of convergence with conventional finance. The research also emphasises product differentiation based on less complicated combined Sharī‘ah contracts.

The Dominance of the Agency Model on Financing Decisions

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Bramantyo Djohanputro

2015-08-01

Full Text Available There are some issues about how companies consider their financing. These issues are related to the amount, source, type, and the structure of such financing. So far, there is no uniform model that is able to explain how companies deal with these issues. There are three competing, dominant theories of financing decision making, i.e. the Pecking Order Theory, the Static Trade-off Theory, and the Agency Model Theory. This study attempts to explore which theory explains the best way for companies in the consumer industry to decide their financing method. There are five hypotheses to be tested in this study. Using data from public listed companies on the Indonesian Stock Exchange from 2008 to 2011, it seems that the Agency Model Theory is more dominant than the other two theories in explaining the way companies fulfill their financing needs.

Bitcoin and Islamic Finance

NARCIS (Netherlands)

Bergstra, J.A.

2014-01-01

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

Private equity, public affair: Hydropower financing in the Mekong Basin

NARCIS (Netherlands)

Merme, V.; Ahlers, R.; Gupta, J.

2014-01-01

Large-scale hydropower development is increasingly popular. Although international finance is a significant driver of hydropower market expansion, financial data is relatively obscure and literature remains scarce. This article tracks the financial process in hydropower development in the Mekong

Leveraging public finance to achieve endgame for tobacco - possible national and global strategies

Directory of Open Access Journals (Sweden)

Pranay Lal

2018-03-01

Full Text Available Background Calls for institutional investors to divest (sell off tobacco stocks threaten the industry´s share values, publicise its bad behaviour, and label it as a politically unacceptable ally. The rise of the socially responsible investment movement, increasing litigation against major tobacco companies, and an increasing emphasis on tobacco industry delegitimisation as a tobacco control strategy created a climate within which tobacco divestment was open for serious discussion. Methods This survey enquired from 19 environment (including groups working against GHGs, asbestos and Big Oil, social and development sectors (groups working on IFC exclusion criteria on the role of public finance, and the arguments to support divestment from "sin" or exclusion sectors. Results In general the respondents to this survey presented the the following arguments which support divestment: • Global obligations to the WHO´s Framework Convention on Tobacco Control, and the other global treaties like the SDG. •\tEthical argument: Governments and their agencies that hold public funds can no longer support tobacco control and tobacco industry. •\tFiscal argument: high costs of national and global litigations make companies, public funded organisations and governments prone to heavy litigation costs and potential costs for damages •\tPublic health argument: Because tobacco industry continue to hold important policy positions, they block and interfere tobacco control efforts. Conclusions To begin a campaign for divestment would require preliminary work by civil society institutions which includes: • Tracking and monitoring institutions and investments • Collaborating with organisations which advocate for ethical or socially responsible investments. • Developing a policy research and advocacy roadmap with stakeholders towards and end date for divestment

The challenge of financing nuclear power plants

International Nuclear Information System (INIS)

Csik, B.J.

1999-01-01

To date, more then 500 nuclear power reactors have been successfully financed and built. Experience in recent nuclear projects confirms that nuclear power will not cease to be a viable option due to a worldwide financing constraint. For financing nuclear plants there are special considerations: large investment; long lead and construction times; complex technology; regulatory risk and political risk. The principal preconditions to financing are a national policy supporting nuclear power; creditworthiness; economic competitiveness; project feasibility; assurance of adequate revenues; acceptability of risks; and no open-ended liabilities. Generally, nuclear power plants are financed conventionally through multi-sources, where a package covers the entire cost. The first source, the investor/owner/operator responsible for building and operating the plant, should cover a sizable portion of the overall investment. In addition, bond issues, domestic bank credits etc. and, in case of State-owned or controlled enterprises, donations and credits from public entities or the governmental budget, should complete the financing. A financially sound utility should be able to meet this challenge. For importing technology, bids are invited. Export credits should form the basis of foreign financing, because these have favorable terms and conditions. Suppliers from several countries may join in a consortium subdividing the scope of supply and involve several Export Credit Agencies (ECAs). There are also innovative financing approaches that could be applied to nuclear projects. Evolutionary Reactors with smaller overall investment, shorter construction times, reliance on proven technology, together with predictable regulatory regimes and reliable long-term national policies favorable to nuclear power, should make it easier to meet the future challenges of financing. (author)

Evaluation of E-Finance Implementations in terms of Financial Principle in Taxation and A Field Research for Determination of Its Influence on Tax Compliance: The Case of Tokat Province

Directory of Open Access Journals (Sweden)

Gamze ÇİMEN

2017-07-01

Full Text Available In Turkey, redefining of an information technology innovation-oriented approach accelerated during 2000s so that e-finance applications, converted into a state policy. For these policy, it is made studies by the state of public services more effective, efficient to be presented rapid and with the low costs, to improve the quality of service. In this study the e-finance applications to been a service of e-government applications, to evatuate different aspects the contribution to provided in terms of economic policy in taxation it is examined in the framework of a survey to be made to financial advisors.

Financing and insurance problems

International Nuclear Information System (INIS)

Laurenge, M.-T.

1975-01-01

The author analyses the papers presented at the Paris Conference on the maturity of nuclear energy. It is evident that financing possibilities will be a determinant factor in the rate of development of nuclear power during the years to come. After having evaluated the capital requirements necessitated for the development of nuclear programmes, the parties intervening have examined the means at the disposal of electricity manufacturers to meet these needs (self-financing, recourse to external financing, regrouping, on an international scale of the electricity manufacturers of the setting up of high capacity plants). As concerns the insurance problems, they are becoming more and more involved as nuclear applications, are further diversified and intensified. The parties intervening have discussed new tarification techniques likely to be applied and pointed out the possibilities offered by regrouping or pooling of insurers (Market Pool) which allow for a maximum of risks to be covered without exceeding the means proper to each company concerned [fr

Tools for computational finance

CERN Document Server

Seydel, Rüdiger U

2017-01-01

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...

The health financing transition: a conceptual framework and empirical evidence.

Science.gov (United States)

Fan, Victoria Y; Savedoff, William D

2014-03-01

Almost every country exhibits two important health financing trends: health spending per person rises and the share of out-of-pocket spending on health services declines. We describe these trends as a "health financing transition" to provide a conceptual framework for understanding health markets and public policy. Using data over 1995-2009 from 126 countries, we examine the various explanations for changes in health spending and its composition with regressions in levels and first differences. We estimate that the income elasticity of health spending is about 0.7, consistent with recent comparable studies. Our analysis also shows a significant trend in health spending - rising about 1 per cent annually - which is associated with a combination of changing technology and medical practices, cost pressures and institutions that finance and manage healthcare. The out-of-pocket share of total health spending is not related to income, but is influenced by a country's capacity to raise general revenues. These results support the existence of a health financing transition and characterize how public policy influences these trends. Copyright © 2014 Elsevier Ltd. All rights reserved.

Equity in health care financing: The case of Malaysia.

Science.gov (United States)

Yu, Chai Ping; Whynes, David K; Sach, Tracey H

2008-06-09

Equitable financing is a key objective of health care systems. Its importance is evidenced in policy documents, policy statements, the work of health economists and policy analysts. The conventional categorisations of finance sources for health care are taxation, social health insurance, private health insurance and out-of-pocket payments. There are nonetheless increasing variations in the finance sources used to fund health care. An understanding of the equity implications would help policy makers in achieving equitable financing. The primary purpose of this paper was to comprehensively assess the equity of health care financing in Malaysia, which represents a new country context for the quantitative techniques used. The paper evaluated each of the five financing sources (direct taxes, indirect taxes, contributions to Employee Provident Fund and Social Security Organization, private insurance and out-of-pocket payments) independently, and subsequently by combined the financing sources to evaluate the whole financing system. Cross-sectional analyses were performed on the Household Expenditure Survey Malaysia 1998/99, using Stata statistical software package. In order to assess inequality, progressivity of each finance sources and the whole financing system was measured by Kakwani's progressivity index. Results showed that Malaysia's predominantly tax-financed system was slightly progressive with a Kakwani's progressivity index of 0.186. The net progressive effect was produced by four progressive finance sources (in the decreasing order of direct taxes, private insurance premiums, out-of-pocket payments, contributions to EPF and SOCSO) and a regressive finance source (indirect taxes). Malaysia's two tier health system, of a heavily subsidised public sector and a user charged private sector, has produced a progressive health financing system. The case of Malaysia exemplifies that policy makers can gain an in depth understanding of the equity impact, in order to help

Equity in health care financing: The case of Malaysia

Directory of Open Access Journals (Sweden)

Sach Tracey H

2008-06-01

Full Text Available Abstract Background Equitable financing is a key objective of health care systems. Its importance is evidenced in policy documents, policy statements, the work of health economists and policy analysts. The conventional categorisations of finance sources for health care are taxation, social health insurance, private health insurance and out-of-pocket payments. There are nonetheless increasing variations in the finance sources used to fund health care. An understanding of the equity implications would help policy makers in achieving equitable financing. Objective The primary purpose of this paper was to comprehensively assess the equity of health care financing in Malaysia, which represents a new country context for the quantitative techniques used. The paper evaluated each of the five financing sources (direct taxes, indirect taxes, contributions to Employee Provident Fund and Social Security Organization, private insurance and out-of-pocket payments independently, and subsequently by combined the financing sources to evaluate the whole financing system. Methods Cross-sectional analyses were performed on the Household Expenditure Survey Malaysia 1998/99, using Stata statistical software package. In order to assess inequality, progressivity of each finance sources and the whole financing system was measured by Kakwani's progressivity index. Results Results showed that Malaysia's predominantly tax-financed system was slightly progressive with a Kakwani's progressivity index of 0.186. The net progressive effect was produced by four progressive finance sources (in the decreasing order of direct taxes, private insurance premiums, out-of-pocket payments, contributions to EPF and SOCSO and a regressive finance source (indirect taxes. Conclusion Malaysia's two tier health system, of a heavily subsidised public sector and a user charged private sector, has produced a progressive health financing system. The case of Malaysia exemplifies that policy makers

Financing Education: Why Should Tax Justice Be Part of the Solution?

Science.gov (United States)

Ron Balsera, Maria; Klees, Steven J.; Archer, David

2018-01-01

This forum seeks to problematise issues related to the lack of resources to adequately finance public education systems. It explores potential solutions based on increased domestic resource mobilisation through progressive taxation in order to meet the growing financing gap needed to achieve Sustainable Development Goal (SDG) 4. While many…

Tuition Tax Credits and Vouchers: Political Finance Alternatives Rather than Rational Alternatives to Education Finance.

Science.gov (United States)

Thomas, Robert G.

This paper describes the use of tuition tax credits and vouchers as political alternatives of choice and competition in a progressive society. School and public administration theorists identify two distinct finance models: the rational and the political. The first part of this paper examines and describes these two models. The next part…

Rethinking School Finance. A Policy Issues Paper Prepared for the Chief State School Officers of the Northwest and Pacific.

Science.gov (United States)

Hansen, Kenneth H.; And Others

Ways of rethinking school financial policy issues are examined in this report. This rethinking has evolved from growing recognition of two related principles: school finance as part of public finance; and policy formation as a product of commitments and constraints. Principles of public finance, commitments and constraints are described. Five…

Financial accounting as a method of household finance capacity valuation

Directory of Open Access Journals (Sweden)

A. B. Untanov

2017-01-01

Full Text Available The article presents existing household finance capacity investigations. Comparison conducting allowed to determinate collisions and flaws of previous works. That substantiates to find a new approach in household finance capacity valuation necessity. The article contains theoretical research of household finance fundamental categories. In particular, it notes significant difference between domestic and foreign experience of household finance determination. Although emphasizing key similarities allows identifying household finance capacity composition. Moreover, the article provides a public and corporate finance sectors experience, which contains a huge knowledge of finance capacity investigations. Used research allows classify finance capacity not only as a resource valuation, but also as an economic entity’s ability to generate financial result. In terms of resource valuation, the paper suggests assessing both financial resources in classical meaning and any other property, which participating household economic activity and could be evaluated. The author’s position in terms of household finance capacity valuation is suggested. A broad definition of finance capacity causes applying conceptually different approach in this paper. Thus, comparative analysis method is suggested to substantiate household and corporate firm similarities. Used method allows forming household financial accounting, which leads to clear determination of household finance capacity composition and structure. Specificity forming household financial accounting is considered. An author’s position in regards existing contradictions with early research is suggested.

The taxpayer-shareholder fallacy and private finance initiatives

NARCIS (Netherlands)

de Vries, Pieter

2007-01-01

There is a growing support for the view that the private sector is at least as efficient as the public sector in managing investment risks of large projects. Governments forget that it is the taxpayer who bears all the risks in a public finance scenario of investments. So, it seems unfounded that

HOW DO ENTREPRENEURIAL TECHNOLOGY FIRMS REALLY GET FINANCED, AND WHAT DIFFERENCE DOES IT MAKE?

OpenAIRE

KELVIN W. WILLOUGHBY

2008-01-01

This paper discusses an emerging heterodoxy in the academic literature on entre- preneurial technology finance that is based on the idea of "bootstrapping." Bootstrap finance is a third approach (emphasizing funding technology ventures through revenue and other non-traditional sources), alongside the orthodoxies of traditional business finance (emphasizing debt) and contemporary venture finance (emphasizing venture capital and public equity). The paper also reports the results of an original ...

Public-private partnership conceptual framework and models for the funding and financing of water services infrastructure in municipalities from selected provinces in South Africa

OpenAIRE

Ruiters, Cornelius; Matji, Maselaganye P

2016-01-01

This paper presents public-private partnership (PPP) framework models for funding and financing of water services infrastructure at local government (municipalities) level (sphere) in South Africa. Data were assembled from various stakeholders, viz., private and public sector institutions in the Gauteng and Limpopo Provinces of South Africa. The framework for PPPs identified three models, viz. state, hybrid and private sector models. In the 'state model' the water services value chain is 100%...

Financing the HIV response in sub-Saharan Africa from domestic sources: Moving beyond a normative approach.

Science.gov (United States)

Remme, Michelle; Siapka, Mariana; Sterck, Olivier; Ncube, Mthuli; Watts, Charlotte; Vassall, Anna

2016-11-01

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

Project financing versus corporate financing under asymmetric information

OpenAIRE

Anton Miglo

2008-01-01

In recent years financing through the creation of an independent project company or financing by non-recourse debt has become an important part of corporate decisions. Shah and Thakor (JET, 1987) argue that project financing can be optimal when asymmetric information exists between firm's insiders and market participants. In contrast to that paper, we provide an asymmetric information argument for project financing without relying on corporate taxes, costly information production or an assump...

Tracking Changes in European Housing Finance

DEFF Research Database (Denmark)

Lunde, Jens; Whitehead, Christine

2016-01-01

The article discusses the changing trends in the housing finance industry of Europe. The article further mentions that the modus operandi of the industry has remained stable amid economic fluctuations in the overall housing sector between 1990-2015. Moreover, the need to reduce the public spending...

School Finance Reform. At Issue

Science.gov (United States)

Weston, Margaret

2010-01-01

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.…

Exporting climate change and environmental degradation. How Dutch public money is used to finance the oil industry

International Nuclear Information System (INIS)

Hamilton, J.; Stockman, L.; Muttitt, G.; Horta, K.; Kochladze, M.; Lisitsyn, D.; Barannikova, N.

2005-06-01

According to this report Dutch public money is being used to support oil production in developing countries through Multilateral Development Banks (MDBs) such as the World Bank and European Bank for Reconstruction and Development (EBRD), and other International Financial Institutions (IFIs) such as Atradius (the Dutch Export Credit Agency) and the European Investment Bank (EIB). The Dutch government contributes to MDBs in two ways: through financial contributions using public money and by voting on the boards of the banks. This report demonstrates the need for far greater parliamentary oversight over the Dutch role in MDBs to keep the use of Dutch public money in line with Dutch government policy. Three case studies illustrate that recent oil projects financed and supported by MDBs and other Dutch government departments are failing the poor and undermining national and international targets on development and climate change: the Cameroon Pipeline in West Africa; the Baku-T'bilisi-Ceyhan pipeline system in the South Caucasus and the Sakhalin-II Oil and Gas Project in far eastern Russia.

12 CFR 221.119 - Applicability of plan-lender provisions to financing of stock options and stock purchase rights...

Science.gov (United States)

2010-01-01

... experience that in some nonqualified plans, particularly stock purchase plans, the credit arrangement is... financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code... PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.119 Applicability of plan-lender...

7 CFR 1980.452 - FmHA or its successor agency under Public Law 103-354 evaluation of application.

Science.gov (United States)

2010-01-01

... examiner's report and if so determine the loan classification. (c) Analyze lender's liability ledger on the... successor agency under Public Law 103-354 1940-3 will not be mailed to the Finance Office. Notice of... to the Finance Office to obligate before the 6-day reservation period and directs the State Director...

Energy investments and ways of financing them

International Nuclear Information System (INIS)

Diel, R.

1975-01-01

The energy investments to be financed within the framework of the Federal Republic's energy programme require a growing proportion of external financing. The lending possibilities here are, however, also bound to the general regulations of the financial system where the credit solvency of the borrower, i.e. the earnings of the electricity industry, is a major criterion. Considering the promising market situation of the electricity industry, an elevation of the present credit line and a relaxation of the demands made on the balance relations should be justifiable, as even in this case the problems of financing cannot be solved by the exclusive application of conventional methods. (orig./AK) [de

Monte Carlo methods and models in finance and insurance

CERN Document Server

Korn, Ralf; Kroisandt, Gerald

2010-01-01

Offering a unique balance between applications and calculations, Monte Carlo Methods and Models in Finance and Insurance incorporates the application background of finance and insurance with the theory and applications of Monte Carlo methods. It presents recent methods and algorithms, including the multilevel Monte Carlo method, the statistical Romberg method, and the Heath-Platen estimator, as well as recent financial and actuarial models, such as the Cheyette and dynamic mortality models. The authors separately discuss Monte Carlo techniques, stochastic process basics, and the theoretical background and intuition behind financial and actuarial mathematics, before bringing the topics together to apply the Monte Carlo methods to areas of finance and insurance. This allows for the easy identification of standard Monte Carlo tools and for a detailed focus on the main principles of financial and insurance mathematics. The book describes high-level Monte Carlo methods for standard simulation and the simulation of...

The Legal Solutions in the Field of Financial and Budgetary Discipline in France in the Light of the Code of Finance Jurisdiction

Directory of Open Access Journals (Sweden)

Małgorzata Cilak

2014-03-01

Full Text Available The purpose of this article is to present French institutional and law solutions in the field of public finance discipline. The article describes legal position and functioning of Court of Budgetary and Finance Discipline in France. The jurisdiction of Court covers the cases of serious breach of public finance law. The Court is one of the elements of the system of jurisdiction in financial matters, that constitute a specialized type of administrative jurisdiction. The law that regulate the legal position and functioning of the Court, as well as the actes which are breaches of public finance discipline, and the sanctions for them, is the Code of finance jurisdiction (Code des juridictions financières.

Two Essays on the Political and Normative Aspects of American School Finance: An Historical Perspective. The MacArthur/Spencer Special Series on Illinois School Finance, Number 1.

Science.gov (United States)

Hickrod, G. Alan Karnes-Wallis; Ward, James Gordon

Two essays are presented in this monograph, the first in a series of publications examining educational finance and using Illinois data. After an introduction, the first essay replies to a "Forbes" magazine cover story on educational finance that asks if education is economically efficient. The central theme is that the maintenance of a…

Public Finance and Regulation of Nonpublic Education: Retrospect and Prospect.

Science.gov (United States)

Encarnation, Dennis J.

The issue in government treatment of nonpublic education has never been whether governments should finance or regulate nonpublic schools, but rather how and how much, according to the author. This paper explores financial and regulatory policies shaping government involvement in nonpublic education. It first examines the types and magnitudes of…

On Extreme Events in Banking and Finance

NARCIS (Netherlands)

M.R.C. Oordt (Maarten)

2013-01-01

textabstractUncertainty and new developments spread at an astonishing speed across the globe in financial markets. The recent extreme events in banking and finance triggered many new questions among academics, policy makers and the general public. Is global diversification at financial

Can we Finance the Energy Transition?

Directory of Open Access Journals (Sweden)

Ian Johnson

2015-05-01

decisions; changes in decision-tools especially the use of high discount rates and inadequate accounting rules; a stable and appropriate price for carbon, the largest economic externality in the sector; and a major uplift in efforts to conserve both energy and capital. Innovative schemes between public and private finance should be deepened. Long term institutional capital (such as pension funds and sovereign wealth funds are an important growth area for energy funding. “Green bonds” have shown promise and are growing fast. Public finance, bilateral and multi-lateral, must be increased to address the major public good issue of climate change. However, at heart, lies a financial sector not equipped to provide finance to the real economy and to the kind of investment streams outlined in this report: an overhaul of the global financial sector must underwrite any of the specific financing efforts proposed in this paper.

[Evolution and new perspectives of health care financing in developing countries].

Science.gov (United States)

Audibert, Martine; Mathonnat, Jacky; de Roodenbeke, Eric

2003-01-01

Over the last twenty five years, the perspective of health care financing has dramatically changed in developing countries. In this context, it is worth reviewing the literature and the experiences in order to understand the major shifts on this topic. During the sixties, health care policies focused on fighting major epidemics. Programs were dedicated to reduce the threat to population health. Financing related to the mobilization of resources for these programs and most of them were not managed within national administrations. The success of these policies was not sustainable. After Alma Ata, primary health care became a priority but it took some years before the management of the health care district was introduced as a major topic. In the eighties, with the district policy and the Bamako Initiative, the economic approach became a major part of all health care policies. At that time, most of health care financing was related to cost recovery strategies. All the attention was then drawn on how it worked: Fee policies, distribution of revenues, efficient use of resources and so on. In the second half of the nineties, cost recovery was relegated to the back scene, health care financing policy then becoming a major front scene matter. Two major reasons may explain this change in perspective: HIV which causes a major burden on the whole health system, and fighting poverty in relation with debts reduction. In most developing countries, with high HIV prevalence, access to care is no longer possible within the framework of the ongoing heath care financing scheme. Health plays a major role in poverty reduction strategies but health care officials must take into account every aspect of public financing. New facts also have to be taken into account: Decentralization/autonomy policies, the growing role of third party payment and the rising number of qualified health care professionals. All these facts, along with a broader emphasis given to the market, introduce a need for

Applied Computational Intelligence for finance and economics

OpenAIRE

Isasi Viñuela, Pedro; Quintana Montero, David; Sáez Achaerandio, Yago; Mochón, Asunción

2007-01-01

This article introduces some relevant research works on computational intelligence applied to finance and economics. The objective is to offer an appropriate context and a starting point for those who are new to computational intelligence in finance and economics and to give an overview of the most recent works. A classification with five different main areas is presented. Those areas are related with different applications of the most modern computational intelligence techniques showing a ne...

Case history of MSW-to-energy financings

International Nuclear Information System (INIS)

Barrett, D.L.

1993-01-01

The development of solid waste treatment facilities is dependent upon the developer having sufficient resources to fund the development of a project and the ability of the project to be financed. The access to capital to develop, construct and operate a facility is the key component of the development process. The author is not diminishing the need for long-term waste agreements, the advantages of a superior technology or the benefit of experience. However, without capital, a project will never be initiated and the other components are immaterial. This paper reviews development financing with a case study of an environmental development company with a new technology and project financing with a comparison of four financings of Waste to Energy (WTE) facilities. Prior to reviewing the financings, the components of a project including the participants, agreements, and cash flows are discussed to establish a foundation for the later discussion. The analysis is not intended to be directly applicable to material recovery and composting facilities, however, many issues are common to all environmental facilities

Financing aspects of electricity saving's in Brazil

International Nuclear Information System (INIS)

Pacca, S.A.; Sauer, I.L.

1996-01-01

Programs regarding to energy saving in Brasil arised by the early 80's from the concern with oil products consumption. The situation has changed and electricity is growing in importance when energy conservation is discussed. Thus, the government, following examples from abroad, has been trying to overcome the barriers that obstruct a massive process evolution towards energy saving, since the potential is spread out in many society segments. One important issue is related to financing energy conservation. This paper attempts to analyze the utilities efforts allied to public and private banks investments towards energy conservation financing. (author)

Control of Database Applications at the Defense Finance and Accounting Service Indianapolis Center

National Research Council Canada - National Science Library

1997-01-01

The Defense Finance and Accounting Service Financial Systems Organization, under the control of the Deputy Director for Information Management, Defense Finance and Accounting Service, is responsible...

Very early stage financing in the petroleum industry

International Nuclear Information System (INIS)

Armstrong, D. R.

1998-01-01

A primer on early financing for oil and natural gas plays was provided. Basic elements of the Alberta Securities Act, the steps involved in raising money for exploration, development or purchase of an oil play, the various forms of structuring an enterprise (proprietorship, limited partnership, joint venture, farm-in, publicly traded corporation) were explained. The types of financing, ranging from 'love money' (money raised from relatives, friends, business associates, or from 'angel investors') through formal venture capital markets and public equity markets were outlined with the characteristic features, advantages and pitfalls of each. The subtle differences between Alberta's 'junior capital pool', 'initial capital offering' and 'exchange offering prospectus' were explained, along with a brief review of which one is the most appropriate under a given set of circumstances

Educational Finance Policy: A Search for Complementarities.

Science.gov (United States)

Geske, Terry G.

1983-01-01

An overview of recent state level policy developments and policy analysis research as related to equity and efficiency objectives in public school finance is presented. Emphasis is placed on identifying complementarities, rather than the tradeoffs, between equity and efficiency criteria. (Author/LC)

Numerical methods in finance and economics a MATLAB-based introduction

CERN Document Server

Brandimarte, Paolo

2006-01-01

A state-of-the-art introduction to the powerful mathematical and statistical tools used in the field of financeThe use of mathematical models and numerical techniques is a practice employed by a growing number of applied mathematicians working on applications in finance. Reflecting this development, Numerical Methods in Finance and Economics: A MATLAB?-Based Introduction, Second Edition bridges the gap between financial theory and computational practice while showing readers how to utilize MATLAB?--the powerful numerical computing environment--for financial applications.The author provides an essential foundation in finance and numerical analysis in addition to background material for students from both engineering and economics perspectives. A wide range of topics is covered, including standard numerical analysis methods, Monte Carlo methods to simulate systems affected by significant uncertainty, and optimization methods to find an optimal set of decisions.Among this book''s most outstanding features is the...

PPP-PROJECTS INFRASTRUCTURE AND SPECIFICS OF THEIR FINANCING

Directory of Open Access Journals (Sweden)

Dzambolat Valerevich Mrikaev

2014-07-01

Full Text Available The article examines the financing of public–private partnership (PPP infrastructure programs in Russia and analyzes the role of financial credit systems. The object of the study becomes more relevant then ever as the demand in programs support by the government is growing as well as the need in creating an extra initiative for raising an external investment.The study observes the most essential program financing features in Russia, the aims and interests of the partners.Objective: to compare the program financial assurance and specific features of such a public-private partnership form as project financing.  Methodology: We used scientific methods: analysis and synthesis, comparison, generalization, systematic approach.Results: As such “project financing” term doesn't exist in current Russian legislation. However, it is widely spread as a form of financial assurance. As a rule this term is used when talking about the investments in general regardless to specific ways of their execution. Russian governmental financing system under current economical circumstances has it all to use advantages of project financing  and effectively contribute to its further development.DOI: http://dx.doi.org/10.12731/2218-7405-2014-4-4

Project financing

International Nuclear Information System (INIS)

Cowan, A.

1998-01-01

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

Financing New Technologies, Equipment/Furniture Replacement, and Building Renovation: A Survey Report.

Science.gov (United States)

Shirk, Gary M.

1984-01-01

Reports results of survey of methods used by 77 North American academic and public libraries to finance implementation of new technologies, replace equipment and furniture, and renovate buildings. Financing methods used, frequency of use, choice, and range of methods are discussed. Eight references and list of survey participants are appended.…

Financing the development of renewable energy projects of territorial interest

International Nuclear Information System (INIS)

Regnier, Yannick; Bailleul, Esther; Claustre, Raphael; Bessiere, Patrick; Boumard, Erwan; Peulemeulle, Justine; Causse, Laurent; Coton, Patrice; Djemouai, Nadia; Dubus, Jean-Michel; Duffes, Thomas; Gauduchon, Marie-Veronique; Raguet, Alex; Ghewy, Etienne; Heitz, Philippe; Jedliczka, Marc; Jourdain, Pierre; Julien, Emmanuel; Marcenac, Guillaume; Marillier, Frederic; Massias, Louis; Picot, Roland; Poize, Noemie; Quantin, Jacques; Rabian, Jean; Rocaboy, Dominique; Rumolino, Claudio; Sabin, Patrick; Saultier, Patrick; Tincelin-Salomon, Claire; Trillaud, Nicolas; Vachette, Philippe; Verhaeghe, Laure

2016-11-01

This report highlights the relationship between a territorial project (its autonomous strategy) and projects of renewable energy which could and should be developed. It focuses on large projects of electric power production, notably those based on solar and wind energy for which such a territorial anchoring is not as obvious as for the production of heat or gas (heat networks are necessarily local, and biomass production and supply as well). Thus, its outlines how these projects can be a benefit for a territory, the stakes of participation for the different local actors, and discusses how such a participation is to be organised. It describes different aspects of the way a project development phase is to be financed: stakes (financing needs, risks, peculiarities of local financing, project management and governance), financing typologies, development ease and safety, support of development financing (capital-risk tools, intervention of local public companies, advance payments, subsidies). The last part addresses how to locally finance the other project phases (stakes during construction and exploitation, intervention modes by participation, financial tools or loans)

Financing the energy sector in developing countries: context and overview

International Nuclear Information System (INIS)

Dunkerley, Joy.

1995-01-01

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)

7 CFR 4290.730 - Financings which constitute conflicts of interest.

Science.gov (United States)

2010-01-01

... INVESTMENT COMPANY (âRBICâ) PROGRAM Financing of Enterprises by RBICs Determining Eligibility of An... that RBIC or any other RBIC (including Financing or Commitments received under any understanding... influencing your action with respect to such Assistance. (c) Applicability of other laws. You are also bound...

Aspects on the Role of Public Finances in Achieving Governmental Objectives

Directory of Open Access Journals (Sweden)

Popa Florina

2017-01-01

The paper brings forward aspects concerning the elements of structure, functions and role ofpublic finances in the economy, important instrument of adjustment the economic and social lifeand removing economic imbalances generated by the game of market economy, left free.

Equity and financing for sexual and reproductive health service delivery: current innovations.

Science.gov (United States)

Montagu, Dominic; Graff, Maura

2009-07-01

National and international decisions on financing for sexual and reproductive health (SRH) services have profound effects on the type, unit costs and distribution of SRH commodities and services produced, and on their availability and consumption. Much international and national funding is politically driven and is doing little for equity and quality improvement. Financing remains a significant challenge in most developing countries and demands creative responses. While no "one-size-fits-all" solution exists, there are numerous ongoing examples of successful innovations, many of which are focusing on resource pooling and on purchasing or subsidising SRH services. In this article we have used interviews, grey literature and presentations made at a range of recent public fora to identify new and innovative ways of financing SRH services so as to increase equity in developing countries. Because SRH services are often of low value as a personal good but high value as a public good, we summarise the issues from a societal perspective, highlighting the importance of financing and policy decisions for SRH services. We provide a structured overview of what novel approaches to financing appear to have positive effects in a range of developing countries. Targeting, government payment mechanisms, subsidy delivery and co-financing for sustainability are highlighted as showing particular promise. Examples are used throughout the article to illustrate innovative strategies.

Project financing

International Nuclear Information System (INIS)

Alvarez, M.U.

1990-01-01

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

Economics and financing of vaccines for diarrheal diseases.

Science.gov (United States)

Bartsch, Sarah M; Lee, Bruce Y

2014-01-01

The considerable burden of infectious disease-caused diarrhea around the world has motivated the continuing development of a number of vaccine candidates over the past several decades with some reaching the market. As with all major public health interventions, understanding the economics and financing of vaccines against diarrheal diseases is essential to their development and implementation. This review focuses on each of the major infectious pathogens that commonly cause diarrhea, the current understanding of their economic burden, the status of vaccine development, and existing economic evaluations of the vaccines. While the literature on the economics and financing of vaccines against diarrhea diseases is growing, there is considerable room for more inquiry. Substantial gaps exist for many pathogens, circumstances, and effects. Economics and financing studies are integral to vaccine development and implementation.

FINANCING CAPACITY, AN INDICATOR OF SELF FINANCING FOR COMPANIES

Directory of Open Access Journals (Sweden)

Teodor Hada

2013-12-01

Full Text Available In the introduction of this paper the research objectives are presented on a case study, the research method, as well as the literature in the field and the novelty of this study. Furthermore, several aspects on the source of information for determining intermediate management balances are covered. In the third part of the study the indicator of self-financing capacity of companies is determined. The correlation between the self-financing capacity and term debts are shown in the fourth part and the fifth part of this study presents some aspects regarding global self-financing, maintaining self-financing, net self-financing, and finally the results of the study are presented.

Behavioral finance

Directory of Open Access Journals (Sweden)

Kapor Predrag

2014-01-01

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.

Corporate financing and anticipated credit rating changes

OpenAIRE

Hung, Chi-Hsiou D.; Banerjee, Anurag; Meng, Qingrui

2017-01-01

Firm circumstances change but rating agencies may not make timely revisions to their\\ud ratings, increasing information asymmetry between firms and the market. We examine\\ud whether firms time the securities market before a credit rating agency publicly reveals\\ud its decision to downgrade a firm's credit rating. Using quarterly data, we show that\\ud firms adjust their financing structures before credit rating downgrades are publicly\\ud revealed. More specifically, firms on average increase t...

Financing, recycling, PR: solutions from Europe

Energy Technology Data Exchange (ETDEWEB)

1976-06-01

Foratom Congress, the gathering of Europe's nuclear industry forums, performs an important review of the major difficulties and issues challenging the nuclear industry. Some of the problems such as financing and public relations which dominated discussions during the three-day meeting in Madrid are described. The Pu recycling situation in Europe is also considered.

31 CFR 309.6 - Public notice of offering.

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Public notice of offering. 309.6 Section 309.6 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL... Public notice of offering. When Treasury bills are to be offered, tenders therefor will be invited...

Nuclear fuel financing

International Nuclear Information System (INIS)

Lurf, G.

1975-01-01

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

School Finance Policies and Practices. The 1980s: A Decade of Conflict.

Science.gov (United States)

Guthrie, James W., Ed.

This book presents the ideas of several authors who share the viewpoint that social values play an important role in determining financial policies in public schools. The first section reviews the historic and social context of school financing, summarizing U.S. school finance policy from 1955 to 1980 and describing the political environment of…

Private management and public finance in the Italian water industry: A marriage of convenience?

Science.gov (United States)

Massarutto, Antonio; Paccagnan, Vania; Linares, Elisabetta

2008-12-01

In many countries, reforms of water and sanitation utilities have favored private sector participation. The drivers of this trend are the need to improve efficiency, professional capabilities of service operations, and willingness to relieve public budgets of the heavy burden of investment. Scant attention has been devoted to the great impact this strategy can have on water bills because of the higher cost of capital that is implicit, given the economic risk that the private sector is required to accept. Since it is a capital-intensive industry with a long economic life of its assets, the water industry is particularly vulnerable to the cost of capital. This creates the case for publicly-supported financial schemes in order to keep this cost as low as possible and guarantee long-run viability as well as affordability. The Italian water industry is an excellent case study to investigate the importance of this situation: in the last 15 years, a far-reaching reform has been introduced with the aim of substituting a financing model, based entirely on public spending, with one delegating financial responsibilities to operators through full-cost recovery. Our simulations show that delegating all responsibilities and risks to the private sector can lead to unsustainable price increases once replacement of existing assets are required. The solution is not to give up full-cost recovery, but rather to search for risk allocation patterns that are more coherent with the risk profile of the water industry and help keeping the cost of capital low.

Financing Opportunities for Renewable Energy Development in Alaska

Energy Technology Data Exchange (ETDEWEB)

Ardani, K.; Hillman, D.; Busche, S.

2013-04-01

This technical report provides an overview of existing and potential financing structures for renewable energy project development in Alaska with a focus on four primary sources of project funding: government financed or supported (the most commonly used structure in Alaska today), developer equity capital, commercial debt, and third-party tax-equity investment. While privately funded options currently have limited application in Alaska, their implementation is theoretically possible based on successful execution in similar circumstances elsewhere. This report concludes that while tax status is a key consideration in determining appropriate financing structure, there are opportunities for both taxable and tax-exempt entities to participate in renewable energy project development.

Changing project finance climate; Project finance wo meguru kankyo henka

Energy Technology Data Exchange (ETDEWEB)

Madono, S. [The Export-Import Bank of Japan, Tokyo (Japan)

1998-03-01

Development of conditions under which project financing (PF) functions is described. PF, a method with which funds are procured for a project on the security of the assets of and the cash flow involving the project, established its position as a popular financial means. Into the 1990, however, PF underwent a complete change, when it came to be actively employed as a means for the procurement of money for what is called `infrastructure building project for invigorating the private sector` in the developing countries. PF has now come to be utilized for the financing of projects in various fields besides the field of resources exploitation. In particular, PF is now utilized in schemes such as BOT (build, operate, transfer) in public enterprises, for instance, electric power utilities in developing countries. The gravest problem found in the private sector invigorating type PF is that the sponsor, operator, exporter, and lender on their respective levels are experiencing rising risks because of intensified competition in the presence of a great number of projects. Such risks involve the exchange rate, the completion of work, and the relations between the borrower and operator. 2 figs.

The role of ethical banks in health care policy and financing in Spain.

Science.gov (United States)

Salvador-Carulla, Luis; Solans, Josep; Duaigues, Mónica; Balot, Jordi; García-Gutierrez, Juan Carlos

2009-01-01

Ethical, social, or civic banks, constitute a secondary source of financing, which is particularly relevant in Southern and Central Europe. However there is no information on the scientific literature on this source of health care financing. We review the characteristics of saving banks in Spain and illustrate the contribution of one institution "Obra Social Caixa Catalunya" (OS-CC) to the health care financing in Spain. Savings bank health care funding was equivalent to 3 percent of the public health expenditure for 2008. The programs developed by OS-CC illustrate the complex role of savings banks in health financing, provision, training, and policy, particularly in the fields of integrated care and innovation. Financing is a basic tool for health policy. However, the role of social banking in the development of integrated care networks has been largely disregarded, in spite of its significant contribution to complementary health and social care in Southern and Central Europe. Decision makers both at the public health agencies and at the social welfare departments of savings banks should become aware of the policy implications and impact of savings bank activities in the long-term care system.

Time Value of Money and Its Applications in Corporate Finance: A Technical Note on Linking Relationships between Formulas

Science.gov (United States)

Chen, Jeng-Hong

2009-01-01

Time Value of Money (TVM) is the most important chapter in the basic corporate finance course. It is imperative to understand TVM formulas because they imply important TVM concepts. Students who really understand TVM concepts and formulas can learn better in chapters of TVM applications. This technical note intends to present more complete TVM…

"Money in Finance"

OpenAIRE

L. Randall Wray

2011-01-01

This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...

Models of Financing and Available Financial Resources for Transport Infrastructure Projects

Directory of Open Access Journals (Sweden)

O. Pokorná

2001-01-01

Full Text Available A typical feature of transport infrastructure projects is that they are expensive and take a long time to construct. Transport infrastructure financing has traditionally lain in the public domain. A tightening of many countries' budgets in recent times has led to an exploration of alternative resources for financing transport infrastructures. A variety of models and methods can be used in transport infrastructure project financing. The selection of the appropriate model should be done taking into account not only financial resources but also the distribution of construction and operating risks and the contractual relations between the stakeholders.

[25 years of the DRG-based health-financing system in Hungary].

Science.gov (United States)

Babarczy, Balázs; Gyenes, Péter; Imre, László

2015-07-19

After a thourough development phase, a new system of health financing was introduced in Hungary in 1993. One of the cornerstones of the system was the financing of acute hospital care through Diagnosis-Related Groups (DRGs). This method was part of a comprehensive healthcare model, elaborated and published around 1990 by experts of Gyógyinfok, a public institute. The health financing system that was finally introduced reflcted in large part this theoretical model, while the current Hungarian system differs from it in some important respects. The objective of this article is to identify these points of divergence.

Corporate finance theorie en financiële crisis in breder perspectief

NARCIS (Netherlands)

Boot, A.W.A.

2008-01-01

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

The challenge of venture capital financing of nuclear innovations: an American example?

International Nuclear Information System (INIS)

Hurel, T.

2017-01-01

The financing of innovations in nuclear industry has been a public sector concern till recently, now in the last years about 50 start-ups operating in nuclear activities have been created in the US. A broad part of these new enterprises are financed by business angels or venture capitalists and generally they propose new kinds of reactors which is not surprising as public funding has the tendency to go to projects based on technologies already approved by the NRC. Breakthrough Energy Ventures (BEV) was launched in 2016 by Bill Gates with the purpose of financing clean energy projects. TerraPower promotes a new kind of reactor while Mission Innovation aims at doubling investment in clean technologies. Other start-ups like ALPHA (Accelerating Low-cost Plasma Heating and Assembly) or LPP Fusion or General Fusion are working on thermonuclear fusion. (A.C.)

[Financing, organization, costs and services performance of the Argentinean health sub-systems.

Science.gov (United States)

Yavich, Natalia; Báscolo, Ernesto Pablo; Haggerty, Jeannie

2016-01-01

To analyze the relationship between health system financing and services organization models with costs and health services performance in each of Rosario's health sub-systems. The financing and organization models were characterized using secondary data. Costs were calculated using the WHO/SHA methodology. Healthcare quality was measured by a household survey (n=822). Public subsystem:Vertically integrated funding and primary healthcare as a leading strategy to provide services produced low costs and individual-oriented healthcare but with weak accessibility conditions and comprehensiveness. Private subsystem: Contractual integration and weak regulatory and coordination mechanisms produced effects opposed to those of the public sub-system. Social security: Contractual integration and strong regulatory and coordination mechanisms contributed to intermediate costs and overall high performance. Each subsystem financing and services organization model had a strong and heterogeneous influence on costs and health services performance.

Financing nuclear power

International Nuclear Information System (INIS)

Sheriffah Noor Khamseah Al-Idid Syed Ahmad Idid

2009-01-01

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

Principal Curves for Statistical Divergences and an Application to Finance

Directory of Open Access Journals (Sweden)

Ana Flávia P. Rodrigues

2018-05-01

Full Text Available This paper proposes a method for the beta pricing model under the consideration of non-Gaussian returns by means of a generalization of the mean-variance model and the use of principal curves to define a divergence model for the optimization of the pricing model. We rely on the q-exponential model so consider the properties of the divergences which are used to describe the statistical model and fully characterize the behavior of the assets. We derive the minimum divergence portfolio, which generalizes the Markowitz’s (mean-divergence approach and relying on the information geometrical aspects of the distributions the Capital Asset Pricing Model (CAPM is then derived under the geometrical characterization of the distributions which model the data, all by the consideration of principal curves approach. We discuss the possibility of integration of our model into an adaptive procedure that can be used for the search of optimum points on finance applications.

Access to finance from different finance provider types: Farmer knowledge of the requirements.

Science.gov (United States)

Wulandari, Eliana; Meuwissen, Miranda P M; Karmana, Maman H; Oude Lansink, Alfons G J M

2017-01-01

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 provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample of finance providers and farmers in Java Island, Indonesia. We find that the most important requirements to acquire finance vary among different finance provider types. We also find that farmers generally have little knowledge of the requirements, which are important to each type of finance provider. Awareness campaigns are needed to increase farmer knowledge of the diversity of requirements among the finance provider types.

Stopping Illicit Procurement: Lessons from Global Finance

Energy Technology Data Exchange (ETDEWEB)

Hund, Gretchen; Kurzrok, Andrew J.

2014-06-19

Government regulators and the financial sector cooperate to combat money laundering and terrorist financing. This information-sharing relationship is built upon a strong legislative foundation and effective operational procedures. As with money-laundering and terrorist financing, halting the illicit procurement of dual-use commodities requires close coordination between government and industry. However, many of the legal and operational features present in financial threat cooperation do not exist in the export control realm. This article analyzes the applicability of financial industry cooperative measures to nonproliferation.

De-risking concentrated solar power in emerging markets: The role of policies and international finance institutions

International Nuclear Information System (INIS)

Frisari, Gianleo; Stadelmann, Martin

2015-01-01

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

Wind Energy Finance in the United States: Current Practice and Opportunities

Energy Technology Data Exchange (ETDEWEB)

Schwabe, Paul D. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Feldman, David J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Settle, Donald E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Fields, Jason [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2017-08-08

In the United States, investment in wind energy has averaged nearly $13.6 billion annually since 2006 with more than $140 billion invested cumulatively over that period (BNEF 2017). This sizable investment activity demonstrates the persistent appeal of wind energy and its increasing role in the U.S electricity generation portfolio. Despite its steady investment levels over the last decade, some investors still consider wind energy as a specialized asset class. Limited familiarity with the asset class both limit the pool of potential investors and drive up costs for investors. This publication provides an overview of the wind project development process, capital sources and financing structures commonly used, and traditional and emerging procurement methods. It also provides a high-level demonstration of how financing rates impact a project's all-in cost of energy. The goal of the publication is to provide a representative and wide-ranging resource for the wind development and financing processes.

Division of Finance Homepage

Science.gov (United States)

Top Department of Administration logo Alaska Department of Administration Division of Finance Search Search the Division of Finance site DOF State of Alaska Finance Home Content Area Accounting Charge Cards You are here Administration / Finance Division of Finance Updates IRIS Expenditure Object Codes

77 FR 42945 - Delegation of Certain Functions Under Section 570(e) of the Foreign Operations, Export Financing...

Science.gov (United States)

2012-07-20

... Certain Functions Under Section 570(e) of the Foreign Operations, Export Financing, and Related Programs... the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1997 (Public Law...

[Financing Regional Dementia Networks in Germany: Determinants of Sustainable Healthcare Networks].

Science.gov (United States)

Michalowsky, B; Wübbeler, M; Thyrian, J R; Holle, B; Gräske, J; Schäfer-Walkmann, S; Fleßa, S; Hoffmann, W

2017-12-01

Analysis of practice-based financing concepts in German dementia networks (DN); Provision of sustainable financing structures and their determinants in DN. Qualitative expert interviews with leaders of 13 DN were conducted. A semi-structured interview guide was used to analyse four main topics: Finance-related organization, cost, sources of funding and financial sustainability. DN were primarily financed by membership fees, earnings of services provided, public funds and payments by municipalities or health care providers. 63% of the DN reported a financial sustainability. Funds to support the interpersonal expanding, a mix of internal and external financing sources and investments of the municipality were determinants of a sustainable financing. Overall, DN in rural areas seemed to be disadvantaged due to a lack of potential linkable service providers. DN in urban regions are more likely able to gather sustainable funding resources. A minimum funding of 50.000 €/year for human resources coordinating the DN, seems to be a threshold for a sustainable DN. © Georg Thieme Verlag KG Stuttgart · New York.

Windpower project ownership and financing: The cost impacts of alternative development structures

Energy Technology Data Exchange (ETDEWEB)

Wiser, R.H. [Lawrence Berkeley National Lab., CA (United States)

1997-12-31

This paper uses traditional financial cash-flow techniques to examine the impact of different ownership and financing structures on the cost of wind energy. While most large-scale wind projects are constructed, operated, and financed by non-utility generators (NUGs) via project financing, investor- and publicly-owned utilities have expressed interest in owning and financing their own facilities rather than purchasing wind energy from independent generators. A primary justification for utility ownership is that, because of financing and tax benefits, windpower may be cheaper when developed in this fashion. The results presented in this paper support that justification, though some of the estimated cost savings associated with utility ownership are found to be a result of shortcomings in utility analysis procedures and implicit risk shifting. This paper also discusses the comparative value of the federal production tax credit and renewable energy production incentive; estimates the financing premium paid by NUG wind owners compared to traditional gas-fired generation facilities; and explores the impact of electricity restructuring on financing.

25 CFR 170.300 - May tribes use flexible financing to finance IRR transportation projects?

Science.gov (United States)

2010-04-01

... Financing § 170.300 May tribes use flexible financing to finance IRR transportation projects? Yes. Tribes may use flexible financing in the same manner as States to finance IRR transportation projects, unless... 25 Indians 1 2010-04-01 2010-04-01 false May tribes use flexible financing to finance IRR...

Incentive Structure of Financing a Project: An Islamic Finance Approach

OpenAIRE

Lone, Fayaz Ahmad; Quadir, Abdul

2017-01-01

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...

FINANCING PRO-ECOLOGICAL INVESTMENTS BY PUBLIC FUNDS IN THE LUBUSKIE PROVINCE IN THE YEARS 2009-2013

Directory of Open Access Journals (Sweden)

Marcin SIKORA

2015-07-01

Full Text Available The article discusses the issue of financing pro-ecological investments by the public funds, basing on the example of Voivodeship Fund for Environmental Protection and Water Management in Zielona Góra in the years 2009-2013. It also defines the essence of the implementation of these investments by the regional business sector in terms of the regional development process. Furthermore, apart from providing the compilation of the basic information concerning ecological funds, focusing on the origin, division, and the rules of their functioning, the analysis of the volume of expenditure in the years 2009-2013 has also been performed in the form of individual instruments supporting pro-ecological investments of the business entities in the region of Lubuskie Province. The summary contains the conclusions and forecasts for the coming years.

Business plans in bank decision-making when financing new ventures in South Africa

Directory of Open Access Journals (Sweden)

M Pretorius

2004-04-01

Full Text Available This article focuses on the position that South African commercial banks adopt when evaluating an application for finance of new business ventures. The role and importance of the business plan in the decision-making process is highlighted and investigated. This article begins to qualitatively describe the decision-making processes, criteria and processes instituted by the four major South African commercial banks that between them serve 96 per cent of the banking services for small business. It then questions the barriers placed on applicants applying for finance and recommends how these barriers can be removed. The article concludes that banks finance business ventures with poor potential for success if the applicant is creditworthy or has the necessary security rather than assist applicants with good plans and ventures with potential, but lacking sufficient security.

SOURCES OF FINANCING INDUSTRIAL COMPLEX ENTERPRISES

Directory of Open Access Journals (Sweden)

Anzhela Zakhitovna Namitulina

2016-01-01

conditions. Currently, only a low percentage of civilian goods produced at the enterprises of the military-industrial complex (MIC, is exported. This preserves the low investment activity in the sectors of the military-industrial complex, which is the most high-tech part of the industry. In modern conditions in the Russian Federation military-industrial complex includes industrial companies and research organizations involved in defense research and creation of weapons and military equipment, governments and federal bodies of executive power. Under these circumstances, current CMO exit from the crisis is a problem of formation of an investment to ensure its development system. Objectives. The aim of the article is to study sources of financing and investment enterprises of the military-industrial complex, study and analysis of the financing of investment sphere of defense industry enterprises; Development of the best ways of functioning of the integrated companies with a view to achieving high economic efficiency in the military and economic cooperation on the basis of military technology, defense industry places on its analysis of the global market. Methods. The methodological basis of this article are the economic and statistical analysis methods, regulatory documents in the fi eld of economic security, publications in the fi eld of economic and financial security, public analyzes in the fi eld of development of military-industrial complex. Results. To improve the financial and investment attractiveness of the enterprises of the military-industrial complex need to improve conditions for attracting investments in the defense sector and expand the powers of enterprise credit and financial sector to actively participate in their financing processes of new projects of defense enterprises. State financing of Russian investment sector is characterized by the following features: the source of the reproduction process started only natural resources, many of which are irreplaceable

Finance

OpenAIRE

2013-01-01

Voici la 17e édition du Rapport moral sur l’argent dans le monde, publié chaque année depuis 1994 par l’Association d’économie financière avec le soutien de la Caisse des Dépôts. Abordant une nouvelle fois les grands débats qui traversent actuellement le monde de la finance, il se consacre dans un premier temps à la lutte contre la criminalité et les délits financiers, et plus particulièrement à la lutte contre la corruption, la délinquance dans la finance et la fraude fiscale. Dans un second...

Publications | Page 193 | IDRC - International Development ...

International Development Research Centre (IDRC) Digital Library (Canada)

Financing Incidence Analysis of Health Financing in Zimbabwe : skills workshop report, ... The work on Financing Incidence. ... Rapid urbanization in settings of poor economic performance and governance ... We apply propensity score matching techniques to analyze the impact of public financial support to innovation in.

New evidence on financing equity in China's health care reform--a case study on Gansu province, China.

Science.gov (United States)

Chen, Mingsheng; Chen, Wen; Zhao, Yuxin

2012-12-18

In the transition from a planned economy to a market-oriented economy, China's state funding for health care declined and traditional coverage plans collapsed, leaving China's poor exposed to potentially ruinous health care costs. In reforming health care for the 21st century, equity in health care financing has become a major policy goal. To assess progress towards this goal, this paper examines the equity characteristics of health care financing in a province of northwestern China, comparing the equity performance between urban and rural areas at two different points in time. Analysis of whether health care financing contributions were progressive according to income were made using the Kakwani index for each of the four health care financing channels of general taxes, public and private health insurance, and out-of-pocket payments. Two rounds of surveys were conducted, the first in 2003 (13,619 individuals in 3946 households) and the second in 2008 (12,973 individuals in 3958 households). Household socio-economic, health care payment, and utilization information were recorded in household interviews. Low-income households have undertaken a larger share of the health care financing burden in recent years, reflected by negative Kakwani indices, which indicate a regressive system. We found that the indices for general taxation were -0.0024 (urban) and -0.0281 (rural) in 2002, and -0.0177 (urban) and -0.0097 (rural) in 2007. Public health insurance presented different financing distributions in urban and rural areas (urban: 0.0742 in 2002, 0.0661 in 2007; rural: -0.0615 in 2002,-0.1436 in 2007.). Out-of-pocket payments were progressive but not equitable. Public health insurance coverage has expanded but financing equity has decreased. Health care financing policies in China need ongoing reform. Given the inequity of general consumption taxes, elimination of these would improve financing equity considerably. Optimizing benefit packages in public health insurance is

Nuclear industry (Finance) Act 1981

International Nuclear Information System (INIS)

1981-01-01

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

Public financing and entrepreneurship: behaviour and regional heterogeneity of SMEs

Directory of Open Access Journals (Sweden)

Antonio García-Tabuenca

2009-10-01

Full Text Available The existence of restrictions for small- and medium-sized enterprises(SMEs to access long-term credit has led governments to establish institutionalsystems to facilitate such access and reduce the cost of credit, with the conditionthat its feasibility is justified (and assessed and there are no distortions as regardscompetition. Very few empirical in-depth studies exist regarding this field of academicresearch, and scarce attention has been paid from a regional perspective.Due to the characteristics of the business structures in the different regions, as wellas the existence of agglomeration economies and the regional dispersion of the entrepreneurshiprate, this paper analyses the effects of the productive financing supportmodel, provided by the Government of Spain, through the Instituto de CréditoOficial (ICO [Official Credit Institute], on the behaviours and performances of thebeneficiary companies. In the last decade, this source of financing has assigned30,000 million euro. The results show the general acceptance of this policy due toits adaptation to the interests of the companies and its contribution to the improvementof the economic-financial efficiency indicators. Regionally, no substantialdifferences have been observed, but the results of this research show a greater contributionto the dynamism of the more progressive regions.

The Financing of Complementary Currencies: Problems and Perspectives

NARCIS (Netherlands)

R.F.H. Schroeder (Rolf)

2015-01-01

textabstractCosts and cost coverage of complementary currencies has been neglected by researchers so far. This article provides an analysis of the different types of costs incurred and asks for appropriate means of financing such projects. External public and private sources are discussed in a

Democracy, redistributive taxation and the private provision of public goods

DEFF Research Database (Denmark)

Markussen, Thomas

2011-01-01

and might even be reversed in this context. Also, the median voter may choose a negative tax rate, even if he or she is poorer than the mean, in order to stimulate production of public goods. The relevance of the model is illustrated with an application to the financing of higher education....

Creative Bus Financing.

Science.gov (United States)

Malone, Wade

1982-01-01

Alternative ways of financing school bus purchases include financing privately through contractors or commercial banks, financing through sources such as insurance companies and pension funds, leasing the buses, or contracting for transportation services. (Author/MLF)

Financing the health care Internet.

Science.gov (United States)

Robinson, J C

2000-01-01

Internet-related health care firms have accelerated through the life cycle of capital finance and organizational destiny, including venture capital funding, public stock offerings, and consolidation, in the wake of heightened competition and earnings disappointments. Venture capital flooded into the e-health sector, rising from $3 million in the first quarter of 1998 to $335 million two years later. Twenty-six e-health firms went public in eighteen months, raising $1.53 billion at initial public offering (IPO) and with post-IPO share price appreciation greater than 100 percent for eighteen firms. The technology-sector crash hit the e-health sector especially hard, driving share prices down by more than 80 percent for twenty-one firms. The industry now faces an extended period of consolidation between e-health and conventional firms.

FINANCING DEMOCRACY OR CORRUPTION? POLITICAL PARTY FINANCING IN THE EU’ S SOUTHEASTERN AND EASTERN MEMBER STATES

Directory of Open Access Journals (Sweden)

Ada-Iuliana POPESCU

2015-09-01

Full Text Available Fighting public-sector corruption has become a priority for most governments and international organizations. The public sector is the source of many benefits. Realizing improper private gains from these benefits has long been the core definition of corruption. As the public sector grows and expands its activities, the complexity of its activities also increases. The opportunities for improper private gains grow, too. Therefore, not surprisingly, the EU admits that the public sector, including political parties and public administrations, are especially vulnerable to corruption. Political parties, for instance, depend on the funding destined for their capability to win elections and otherwise to influence public policies. In turn, this dependency creates opportunities for a variety of corrupt activities. Ensuring that campaign funding promotes democracy and not corruption requires well-crafted, vigorously enforced laws. This article analyzes the legal framework of political party financing in the Eastern and South-eastern European EU member states, in order to assess how well it works in preventing political party corruption.

Finance/security/life.

OpenAIRE

Langley, P.

2017-01-01

What is the contemporary relation between finance and security? This essay encourages further research into the securitization of finance by developing the notion of ‘finance/security/life’. A focus on the intersections of finance/security/life will be shown to prompt a broadened range of critical, cross-disciplinary concerns with the various ways in which financial markets are positioned as vital to securing wealth, welfare and wellbeing.

Financing of renewable electric technologies in developing countries - an Indian view

International Nuclear Information System (INIS)

Bakshi, R.

1999-01-01

To encourage the growth of renewable energy technologies and to provide adequate finance at concessional rates, the Indian Renewable Energy Development Agency Ltd. (IREDA), a Public Sector Undertaking, was established by the Ministry of Non-conventional Energy Sources in the year 1987. IREDA is perhaps the only agency of its kind established in the world for financing renewable energy projects. A number of renowned multilateral and bilateral agencies have come forward to join this global movement for sustained development, IREDA has, over the past decade of its existence, launched several innovative inititatives to promote, develop and finance various renewable energy technologies in the country. (orig./RHM)

What physicists should know about finance

Science.gov (United States)

Schmidt, Anatoly B.

2005-05-01

There has been growing interest in Econophysics, i.e. analysis and modeling of financial time series using the theoretical Physics concepts (scaling, fractals, chaos). Besides the scientific stimuli, this interest is backed by perception that the financial industry is a viable alternative for those physicists who are not able or are not willing to pursue an academic career. However, the times when any Ph.D. in Physics had a chance to find a job on the Wall Street are gone (if they ever existed). Indeed, not every physicist wields the stochastic calculus, non-normal statistical distributions, and the methods of time series analysis. Moreover, now that many universities offer courses in mathematical finance, the applicants for quantitative positions in finance are expected to know such concepts as option pricing, portfolio management, and risk measurement. Here I describe a synthetic course based on my book [1] that outlines both worlds: Econophysics and Mathematical Finance. The course may be offered as elective for senior undergraduate or graduate Physics majors.

Financing Distributed Generation

International Nuclear Information System (INIS)

Walker, A.

2001-01-01

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

An introduction to continuous-time stochastic processes theory, models, and applications to finance, biology, and medicine

CERN Document Server

Capasso, Vincenzo

2015-01-01

This textbook, now in its third edition, offers a rigorous and self-contained introduction to the theory of continuous-time stochastic processes, stochastic integrals, and stochastic differential equations. Expertly balancing theory and applications, the work features concrete examples of modeling real-world problems from biology, medicine, industrial applications, finance, and insurance using stochastic methods. No previous knowledge of stochastic processes is required. Key topics include: * Markov processes * Stochastic differential equations * Arbitrage-free markets and financial derivatives * Insurance risk * Population dynamics, and epidemics * Agent-based models New to the Third Edition: * Infinitely divisible distributions * Random measures * Levy processes * Fractional Brownian motion * Ergodic theory * Karhunen-Loeve expansion * Additional applications * Additional  exercises * Smoluchowski  approximation of  Langevin systems An Introduction to Continuous-Time Stochastic Processes, Third Editio...

Consumer Finance

OpenAIRE

Peter Tufano

2009-01-01

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...

Project Finance and Projects in the Energy Sector in Developing Countries

OpenAIRE

ERMELA KRIPA; HALIT XHAFA

2013-01-01

The purpose of this study is to show the importance of using project finance in infrastructure investments in developing countries. The paper will be focused only on one infrastructure sector, which is energy. Structurally, power project finance has involved largely buildown-transfer (BOT) project structures and long-term contracts. The projects largely reflect a rational allocation of risks among public and private participants. Private sponsors and lenders generally assume risks for complet...

THE ENTERPRISE SELF-FINANCING – THE TAXATION IMPACT UPON SELF-FINANCING DECISION

OpenAIRE

Nicoleta BARBUTA-MISU

2009-01-01

This work study the self-financing problematic, with particular emphasis on their benefits for the enterprise, but also for shareholders, on domestic or external factors that influence the self-financing decision and its level, on the relationship between self-financing and depreciation, degree of debt and profitability and not in the last line on the self-financing cost. In the factors that acting on the self-financing decision was granted a special attention to taxation, whose impact has be...

The Impact of Immigrants on Public Finances: A Forecast Analysis for Denmark

DEFF Research Database (Denmark)

Hansen, Marianne; Schultz-Nielsen, Marie Louise; Tranæs, Torben

All over Europe, ageing populations threaten nations' financial sustainability. In this paper we examine the potential of immigration to strengthen financial sustainability. We look at a particularly challenging case, namely that of Denmark, which has extensive tax-financed welfare programmes...

Public health emergencies and the public health/managed care challenge.

Science.gov (United States)

Rosenbaum, Sara; Skivington, Skip; Praeger, Sandra

2002-01-01

The relationship between insurance and public health is an enduring topic in public health policy and practice. Insurers share certain attributes with public health. But public health agencies operate in relation to the entire community that they are empowered by public law to serve and without regard to the insurance status of community residents; on the other hand, insurers (whether managed care or otherwise) are risk-bearing entities whose obligations are contractually defined and limited to enrolled members and sponsors. Public insurers such as Medicare and Medicaid operate under similar constraints. The fundamental characteristics that distinguish managed care-style insurance and public health become particularly evident during periods of public health emergency, when a public health agency's basic obligations to act with speed and flexibility may come face to face with the constraints on available financing that are inherent in the structure of insurance. Because more than 70% of all personal health care in the United States is financed through insurance, public health agencies effectively depend on insurers to finance necessary care and provide essential patient-level data to the public health system. Critical issues of state and federal policy arise in the context of the public health/insurance relations during public health emergencies. These issues focus on coverage and the power to make coverage decisions, as well as the power to define service networks and classify certain data as exempt from public reporting. The extent to which a formal regulatory approach may become necessary is significantly affected by the extent to which private entities themselves respond to the problem with active efforts to redesign their services and operations to include capabilities and accountability in the realm of public health emergency response.

Financing Distributed Generation

Energy Technology Data Exchange (ETDEWEB)

Walker, A.

2001-06-29

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.

Corporate finance

OpenAIRE

P. Quiry; Y. Le Fur; A. Salvi; M. Dallocchio; P. Vernimmen

2011-01-01

Corporate Finance: Theory and Practice, 3rd Edition, the website www.vernimmen.com and the Vernimmen.com newsletter are all written and created by an author team who are both investment bankers/corporate financiers and academics. This book covers the theory and practice of Corporate Finance from a truly European perspective. It shows how to use financial theory to solve practical problems and is written for students of corporate finance and financial analysis and practising corporate financie...

Analysis of health promotion and prevention financing mechanisms in Thailand.

Science.gov (United States)

Watabe, Akihito; Wongwatanakul, Weranuch; Thamarangsi, Thaksaphon; Prakongsai, Phusit; Yuasa, Motoyuki

2017-08-01

In the transition to the post-2015 agenda, many countries are striving towards universal health coverage (UHC). Achieving this, governments need to shift from curative care to promotion and prevention services. This research analyses Thailand's financing system for health promotion and prevention, and assesses policy options for health financing reforms. The study employed a mixed-methods approach and integrates multiple sources of evidence, including scientific and grey literature, expenditure data, and semi-structured interviews with key stakeholders in Thailand. The analysis was underpinned by the use of a well-known health financing framework. In Thailand, three agencies plus local governments share major funding roles for health promotion and prevention services: the Ministry of Public Health (MOPH), the National Health Security Office, the Thai Health Promotion Foundation and Tambon Health Insurance Funds. The total expenditure on prevention and public health in 2010 was 10.8% of the total health expenditure, greater than many middle-income countries that average 7.0-9.2%. MOPH was the largest contributor at 32.9%, the Universal Coverage scheme was the second at 23.1%, followed by the local governments and ThaiHealth at 22.8 and 7.3%, respectively. Thailand's health financing system for promotion and prevention is strategic and innovative due to the three complementary mechanisms in operation. There are several methodological limitations to determine the adequate level of spending. The health financing reforms in Thailand could usefully inform policymakers on ways to increase spending on promotion and prevention. Further comparative policy research is needed to generate evidence to support efforts towards UHC. © The Author 2016. Published by Oxford University Press.

Organising the Finances For and the Finances From Transnational Corporate Bribery

OpenAIRE

Lord, Nicholas; Michael Levi,

2016-01-01

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...

Financing wind projects

International Nuclear Information System (INIS)

Manson, J.

2006-01-01

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

BUDGET AND PUBLIC DEBT

Directory of Open Access Journals (Sweden)

Morar Ioan Dan

2014-12-01

Full Text Available The issue of public budgeting is an important issue for public policy of the state, for the simple reason that no money from the state budget can not promote public policy. Budgetary policy is official government Doctrine vision mirror and also represents a starting point for other public policies, which in turn are financed by the public budget. Fiscal policy instruments at its disposal handles the public sector in its structure, and the private sector. Tools such as grant, budgetary allocation, tax, welfare under various forms, direct investments and not least the state aid is used by the state through their budgetary policies to directly and indirectly infuence sector, and the private. Fiscal policies can be grouped according to the structure of the public sector in these components, namely fiscal policy, budgeting and resource allocation policies for financing the budget deficit. An important issue is the financing of the budget deficit budgetary policies. There are two funding possibilities, namely, the higher taxes or more axles site and enter the second call to public loans. Both options involve extra effort from taxpayers in the current fiscal year when they pay higher taxes or a future period when public loans will be repaid. We know that by virtue of "fiscal pact" structural deficits of the member countries of the EU are limited by the European Commission, according to the macro structural stability and budget of each Member State. This problem tempers to some extent the governments of the Member States budgetary appetite, but does not solve the problem of chronic budget deficits. Another issue addressed in this paper is related to the public debt, the absolute amount of its relative level of public datoriri, about the size of GDP, public debt financing and its repayment sources. Sources of public debt issuance and monetary impact on the budget and monetary stability are variables that must underpin the justification of budgetary

RISK OF PROFIT LOSS SHARING FINANCING: THE CASE OF INDONESIA

Directory of Open Access Journals (Sweden)

Ernawati Ernawati

2016-02-01

Full Text Available This study analyzes the risk of profit-and-loss sharing finance in Indonesian Islamic banking. Data used is secondary data obtained from the Financial Services Authority’s 2009-2014 publication. Financing risk is measured by risk return and opportunity cost. Results of the study show that risk return in mudharaba financing is more volatile than that in musharaka as it is potentially driven by agency problems. In all groups of banks, higher incomes are more promising in mudharaba than musharaka; but individually musharaka is more attractive to Islamic Rural Bank groups, and vice versa for the Sharia Bank groups. The one side it is more secure for Islamic banking to allocate funds in musharaka contract, which is an alternative to murabaha. However, musharaka contract is less attractive due to lower potential returns. Although high returns are more promising in mudaraba, this financing mode has higher risk of returns.DOI: 10.15408/aiq.v8i1.1793

Introducing Commercial Finance into the Water Sector in Developing Countries

OpenAIRE

Bender, Kevin

2017-01-01

This guidance note provides an introduction to the role of commercial finance in the water and sanitation sector. Its aim is to help readers (development specialists) explore applications in their own countries. The note focuses primarily on commercial bank loans, and throughout the document the term commercial finance refers to commercial loans from domestic banks. However, much of the gu...

Renewable energy sources, finance and sustainability outlook and latest evolution

International Nuclear Information System (INIS)

Paesani, P.

2008-01-01

Environment-related reasons, pressure by public opinion, and above all the strong belief that green technologies will be highly profitable pave the way to higher investments of private finance on renewable energy sources [it

What Constrains Effective Public Financial Management in African ...

African Journals Online (AJOL)

While the management of the area of public finance is highly legislated, the waste with which these resources slip through the public coffers remains a paradox. The purpose of this article is to examine the five self-reinforcing variables that are mostly fingered for this dilemma. These are: (1) public finance as a political ...

12 CFR 810.2 - Public notice of offering.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Public notice of offering. 810.2 Section 810.2 Banks and Banking FEDERAL FINANCING BANK FEDERAL FINANCING BANK BILLS § 810.2 Public notice of offering. On the occasion of an offering of FFB bills, tenders therefor will be invited through public notices...

Guidebook to financing CDM projects

Energy Technology Data Exchange (ETDEWEB)

Kamel, S.

2007-07-01

One of the challenges facing Clean Development Mechanism (CDM) projects today is their limited ability to secure financing for the underlying greenhouse gas emission reduction activities, particularly in the least developed countries. Among the key reasons for this is the fact that most financial intermediaries in the CDM host countries have limited or no knowledge of the CDM Modalities and Procedures. Moreover, approaches, tools and skills for CDM project appraisal are lacking or are asymmetrical to the skills in comparable institutions in developed countries. Consequently, developing country financial institutions are unable to properly evaluate the risks and rewards associated with investing or lending to developers undertaking CDM projects, and therefore have, by-and-large, refrained from financing these projects. In addition, some potential project proponents lack experience in structuring arrangements for financing a project. This Guidebook - commissioned by the UNEP Risoe Centre as part of the activities of the Capacity Development for CDM (CD4CDM) project (http://www.cd4cdm.org) - addresses these barriers by providing information aimed at both developing country financial institutions and at CDM project proponents. It should be noted that while the Guidebook was developed particularly with the CDM in mind, most sections will also be relevant for Joint Implementation (JI) project activities. For more detailed information on JI modalities and procedures please consult: http://ji.unfccc.int The purpose of this Guidebook is two-fold: 1) To guide project developers on obtaining financing for the implementation of activities eligible under the CDM; and 2) To demonstrate to developing country financial institutions typical approaches and methods for appraising the viability of CDM projects and for optimally integrating carbon revenue into overall project financing. The target audiences for the Guidebook are therefore, primarily: 1) CDM project proponents in

7 CFR 97.19 - Publication of pending applications.

Science.gov (United States)

2010-01-01

... 7 Agriculture 3 2010-01-01 2010-01-01 false Publication of pending applications. 97.19 Section 97... LABORATORY TESTING PROGRAMS PLANT VARIETY AND PROTECTION The Application § 97.19 Publication of pending applications. Information relating to pending applications shall be published in the Official Journal...

Financing options to develop non-conventional reserves

International Nuclear Information System (INIS)

Tricoli, C.

1997-01-01

The economics of non-conventional natural gas reserves such as coalbed methane, gas shales and tight gas were discussed, with special reference to financing options to develop such reserves. Before 1992, tax credits were used to stimulate the development of non-conventional gas. The requirements for section 29 tax credits, the objectives of investors and producers, and the methods used to monetize section 29 tax credits, such as public royalty trusts, partnership structures, and up-front payment mechanisms were described. The capital gains implications of gas sales were also reviewed. It was noted that in the absence of tax credits, financing the development of non-conventional reserves must undergo the same economic scrutiny as any other oil and gas project

Scaling up climate finance for sustainable infrastructure in developing cities

Energy Technology Data Exchange (ETDEWEB)

Li, Jun

2010-09-15

This article investigates the role of carbon finance and seeks to establish a policy framework that allows reorientation of upfront investment in urban infrastructure for facilitating transition towards low-carbon development trajectory in developing cities. It draws on an in-depth exploration of different climate finance mechanisms and their applicability in the context of fast urbanization. We suggest an integrated approach should be adopted to aggregate city-based multiple individual GHG mitigation projects dealing with buildings and transport efficiency. The sectoral approach and NAMAs-based financing schemes be included in post-Kyoto regime for shifting the current trajectories in fast growing developing cities.

Financing of Romanian Non-governmental Organizations

Directory of Open Access Journals (Sweden)

Sebastian Ion CEPTUREANU

2017-06-01

Full Text Available Non-governmental organizations (NGOs have become increasingly important in the last decade for the Romanian society. They raise public awareness for human rights, promote development of democracy and seek to improve the well-being of communities by being increasingly engaging in various development, educational, social or health projects. Unfortunately, many NGOs has to cope with significant financing problems since competition for resources amplified and some of the traditional donors cut or reduced support. This paper analyze financing issues in NGOs, based on a quantitative analysis, using a structured questionnaire. Since it is one of the very few studies covering Romania, the scope of the paper was to provide for those involved or interested in NGO sector new data concerning, for instance, sources of revenue or destination of resources, enabling NGOs executives to build financial sustainable organizations.

Introduction: Alternative Public School Financing.

Science.gov (United States)

Disend, David S., Ed.

2000-01-01

Argues that time and money are the two critical resources to allocate in any plan, and certainly regarding public education. Discusses four important elements in the debate about the use of resources: efficiency, content, effectiveness, and fairness. Outlines difficulties and questions regarding school funding. (SR)

Challenges facing the finance reform of the health system in Chile.

Science.gov (United States)

Herrera, Tania

2014-05-28

Financing is one of the key functions of health systems, which includes the processes of revenue collection, fund pooling and acquisitions in order to ensure access to healthcare for the entire population. The article analyzes the financing model of the Chilean health system in terms of the first two processes, confirming low public spending on healthcare and high out-of-pocket expenditure, in addition to an appropriation of public resources by private insurers and providers. Insofar as pooling, there is lack of solidarity and risk sharing leading to segmentation of the population that is not consistent with the concept of social security, undermines equity and reduces system-wide efficiency. There is a pressing need to jumpstart reforms that address these issues. Treatments must be considered together with public health concerns and primary care in order to ensure the right to health of the entire population.

48 CFR 832.202-4 - Security for Government financing.

Science.gov (United States)

2010-10-01

... accepted accounting principles and must be audited and certified by an independent public accountant or an... for Government financing. An offeror's financial condition may be considered adequate security to... offeror's financial condition, the contracting officer may obtain, to the extent required, the following...

Towards a coherent global framework for health financing: recommendations and recent developments.

Science.gov (United States)

Ottersen, Trygve; Elovainio, Riku; Evans, David B; McCoy, David; Mcintyre, Di; Meheus, Filip; Moon, Suerie; Ooms, Gorik; Røttingen, John-Arne

2017-04-01

The articles in this special issue have demonstrated how unprecedented transitions have come with both challenges and opportunities for health financing. Against the background of these challenges and opportunities, the Working Group on Health Financing at the Chatham House Centre on Global Health Security laid out, in 2014, a set of policy responses encapsulated in 20 recommendations for how to make progress towards a coherent global framework for health financing. These recommendations pertain to domestic financing of national health systems, global public goods for health, external financing for national health systems and the cross-cutting issues of accountability and agreement on a new global framework. Since the Working Group concluded its work, multiple events have reinforced the group's recommendations. Among these are the agreement on the Addis Ababa Action Agenda, the adoption of the Sustainable Development Goals, the outbreak of Ebola in West Africa and the release of the Panama Papers. These events also represent new stepping stones towards a new global framework.

Personal Health and Finance Quiz: A Tool for Outreach, Research, and Evaluation

Directory of Open Access Journals (Sweden)

Barbara O'Neill

2015-02-01

Full Text Available Rutgers Cooperative Extension developed an online self-assessment tool called the Personal Health and Finance Quiz available at http://njaes.rutgers.edu/money/health-finance-quiz/. Believed to be among the first public surveys to simultaneously query users about their health and personal finance practices, the quiz is part of Small Steps to Health and Wealth™ (SSHW, a Cooperative Extension program developed to motivate Americans to take action to improve both their health and personal finances (see http://njaes.rutgers.edu/sshw/. Respondents indicate one of four frequencies for performance of 20 daily activities and receive a Health, Finance, and Total score indicating their frequency of performing activities that health and financial experts recommend. In addition to providing users with personalized feedback, the quiz collects data for research about the health and financial practices of Americans to inform future Extension outreach and can be used as a pre-/post-test to evaluate the impact of SSHW programs. Initial research analyses are planned for 2015.

41 CFR 102-192.65 - What features must our finance systems have to keep track of mail costs?

Science.gov (United States)

2010-07-01

... finance systems have to keep track of mail costs? 102-192.65 Section 102-192.65 Public Contracts and... What features must our finance systems have to keep track of mail costs? All agencies must have an... requirement, because the level at which it is cost-beneficial differs widely. The agency's finance system(s...

New evidence on financing equity in China's health care reform - A case study on Gansu province, China

Directory of Open Access Journals (Sweden)

Chen Mingsheng

2012-12-01

Full Text Available Abstract Background In the transition from a planned economy to a market-oriented economy, China’s state funding for health care declined and traditional coverage plans collapsed, leaving China’s poor exposed to potentially ruinous health care costs. In reforming health care for the 21st century, equity in health care financing has become a major policy goal. To assess progress towards this goal, this paper examines the equity characteristics of health care financing in a province of northwestern China, comparing the equity performance between urban and rural areas at two different points in time. Methods Analysis of whether health care financing contributions were progressive according to income were made using the Kakwani index for each of the four health care financing channels of general taxes, public and private health insurance, and out-of-pocket payments. Two rounds of surveys were conducted, the first in 2003 (13,619 individuals in 3946 households and the second in 2008 (12,973 individuals in 3958 households. Household socio-economic, health care payment, and utilization information were recorded in household interviews. Results Low-income households have undertaken a larger share of the health care financing burden in recent years, reflected by negative Kakwani indices, which indicate a regressive system. We found that the indices for general taxation were −0.0024 (urban and −0.0281 (rural in 2002, and −0.0177 (urban and −0.0097 (rural in 2007. Public health insurance presented different financing distributions in urban and rural areas (urban: 0.0742 in 2002, 0.0661 in 2007; rural: –0.0615 in 2002,���0.1436 in 2007.. Out-of-pocket payments were progressive but not equitable. Public health insurance coverage has expanded but financing equity has decreased. Conclusions Health care financing policies in China need ongoing reform. Given the inequity of general consumption taxes, elimination of these would improve

New evidence on financing equity in China's health care reform - A case study on Gansu province, China

Science.gov (United States)

2012-01-01

Background In the transition from a planned economy to a market-oriented economy, China’s state funding for health care declined and traditional coverage plans collapsed, leaving China’s poor exposed to potentially ruinous health care costs. In reforming health care for the 21st century, equity in health care financing has become a major policy goal. To assess progress towards this goal, this paper examines the equity characteristics of health care financing in a province of northwestern China, comparing the equity performance between urban and rural areas at two different points in time. Methods Analysis of whether health care financing contributions were progressive according to income were made using the Kakwani index for each of the four health care financing channels of general taxes, public and private health insurance, and out-of-pocket payments. Two rounds of surveys were conducted, the first in 2003 (13,619 individuals in 3946 households) and the second in 2008 (12,973 individuals in 3958 households). Household socio-economic, health care payment, and utilization information were recorded in household interviews. Results Low-income households have undertaken a larger share of the health care financing burden in recent years, reflected by negative Kakwani indices, which indicate a regressive system. We found that the indices for general taxation were −0.0024 (urban) and −0.0281 (rural) in 2002, and −0.0177 (urban) and −0.0097 (rural) in 2007. Public health insurance presented different financing distributions in urban and rural areas (urban: 0.0742 in 2002, 0.0661 in 2007; rural: –0.0615 in 2002,–0.1436 in 2007.). Out-of-pocket payments were progressive but not equitable. Public health insurance coverage has expanded but financing equity has decreased. Conclusions Health care financing policies in China need ongoing reform. Given the inequity of general consumption taxes, elimination of these would improve financing equity considerably

Renewable Energy Finance Tracking Initiative (REFTI) Solar Trend Analysis

Energy Technology Data Exchange (ETDEWEB)

Hubbell, R.; Lowder, T.; Mendelsohn, M.; Cory, K.

2012-09-01

This report is a summary of the finance trends for small-scale solar photovoltaic (PV) projects (PV <1 MW), large-scale PV projects (PV greater than or equal to 1 MW), and concentrated solar power projects as reported in the National Renewable Energy Laboratory's Renewable Energy Finance Tracking Initiative (REFTI). The report presents REFTI data during the five quarterly periods from the fourth quarter of 2009 to the first half of 2011. The REFTI project relies exclusively on the voluntary participation of industry stakeholders for its data; therefore, it does not offer a comprehensive view of the technologies it tracks. Despite this limitation, REFTI is the only publicly available resource for renewable energy project financial terms. REFTI analysis offers usable inputs into the project economic evaluations of developers and investors, as well as the policy assessments of public utility commissions and others in the renewable energy industry.

Financing and Managing Infrastructure in Africa

OpenAIRE

Mthuli Ncube

2010-01-01

This paper discusses various ways of financing infrastructure under public private partnership (PPP) arrangements in Africa. The paper presents the standard literature on the relationship between infrastructure investment and economic growth, highlighting the contradictory findings in the literature. Stylised facts about the state of infrastructure in Africa, compared with other regions such as Asia and Latin America, are also presented. Examples of how PPPs structures work are discussed incl...

Access to finance from different finance provider types: Farmer knowledge of the requirements

OpenAIRE

Wulandari, Eliana; Meuwissen, Miranda P. M.; Karmana, Maman H.; Oude Lansink, Alfons G. J. M.

2017-01-01

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 provider types, and investigates the relation between demographic and socioeconomic factors and farmer knowledge of finance requirements. We use a structured questionnaire to collect data from a sample o...

Introduction to biomass energy project financing, funding sources and government strategies

International Nuclear Information System (INIS)

Nordlinger, D.E.; Shaw, F.C.

1995-01-01

Biomass projects can help developing countries to protect their environment as well as to build a modem infrastructure. However, such projects present, in addition to the more typical risks associated with fossil-fuel projects, certain risks relating to the unique technologies and fuels used in such projects. Further, their location in developing countries regularly creates enhanced political and credit risk as well. Biomass power projects, like any other power project, must be financed. To be financeable, a power project should allocate risk in the most efficient way, so as to maximize return on investment. This paper examines the way in which various project documents can be structured to allocate most efficiently the technology and fuel risks unique to biomass projects, as well as the more typical risks, such as construction risk, permitting risk, expropriation risk, currency risk, country risk, sovereign risks, operating risks and credit risk. In addition, this paper summarizes the public financing sources and support that are available to assist in meeting the unique risk profiles of biomass projects. Specifically, it examines some of the principal multilateral and export credit agencies having involvement in this area. Finally, it examines potential strategies available to the developer of a biomass project for soliciting the involvement of, and negotiating with, local governments and public financing agencies. (author)

Introduction to biomass energy project financing, funding sources and government strategies

Energy Technology Data Exchange (ETDEWEB)

Nordlinger, D E [Skadden, Arps, Slate, Meagher and Flom, London (United Kingdom); Shaw, F C [Skadden, Arps, Slate, Meagher and Flom, Washington, D.C. (United States)

1995-12-01

Biomass projects can help developing countries to protect their environment as well as to build a modem infrastructure. However, such projects present, in addition to the more typical risks associated with fossil-fuel projects, certain risks relating to the unique technologies and fuels used in such projects. Further, their location in developing countries regularly creates enhanced political and credit risk as well. Biomass power projects, like any other power project, must be financed. To be financeable, a power project should allocate risk in the most efficient way, so as to maximize return on investment. This paper examines the way in which various project documents can be structured to allocate most efficiently the technology and fuel risks unique to biomass projects, as well as the more typical risks, such as construction risk, permitting risk, expropriation risk, currency risk, country risk, sovereign risks, operating risks and credit risk. In addition, this paper summarizes the public financing sources and support that are available to assist in meeting the unique risk profiles of biomass projects. Specifically, it examines some of the principal multilateral and export credit agencies having involvement in this area. Finally, it examines potential strategies available to the developer of a biomass project for soliciting the involvement of, and negotiating with, local governments and public financing agencies. (author)

Financing Investment

DEFF Research Database (Denmark)

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...

Application of finance project for leverage of small size hydroelectric enterprising; Aplicacao do project finance para alavancagem de empreendimentos hidreletricos de pequeno porte

Energy Technology Data Exchange (ETDEWEB)

Santos, Silvana dos

2003-07-01

In the same way that the majority of the countries, project financing of substructure in Brazil, in project finance modality, depend on a skillful structure of guaranties and contracts to become possible. In the case of projects of centrals of generation of electrical energy, that financial engineering becomes still more complicated. In Brazil, due to particularities of the sectors of electricity, the arrangements of guaranties requested but creditors pass to present levels of complexity and exigency well elevated. The contractual appliances that give support to the project finance, originally projected to developed countries, request an extreme adaptation to these particularities. The development of Brazil is directly related to its capacity in expanding the offer of electric energy in the just measure of the national necessity. In this context, the small central hydroelectric (PCH's) represent, actually, an efficient and fast form to complete the offer of energy in such a way to supply the crescent demand the national market. For its characteristics, that type of undertaking can be developed by small manager, from among which are the owners of the areas in which on can find these hydraulic potentials which, however they do not dispose of capital to integral raising. These undertakings are tasks, normally, of low global cost, at the rate of US$ 1.000,00/k W, and of a smaller ambient impact, compared to the return that they give to the enterprise and to the Brazilian electric system as a whole, by having to receive special attention in the planned politics to the sector and to merit a series of incentives to become business still more attractive. By thinking in the found difficulty by small enterprises in rising undertakings of generation of electric energy of small port through the convectional mechanisms of financing is being proposed in that work a well-founded methodology in the concepts of the modality of financing project finance. (author)

Application of finance project for leverage of small size hydroelectric enterprising; Aplicacao do project finance para alavancagem de empreendimentos hidreletricos de pequeno porte

Energy Technology Data Exchange (ETDEWEB)

Santos, Silvana dos

2003-07-01

In the same way that the majority of the countries, project financing of substructure in Brazil, in project finance modality, depend on a skillful structure of guaranties and contracts to become possible. In the case of projects of centrals of generation of electrical energy, that financial engineering becomes still more complicated. In Brazil, due to particularities of the sectors of electricity, the arrangements of guaranties requested but creditors pass to present levels of complexity and exigency well elevated. The contractual appliances that give support to the project finance, originally projected to developed countries, request an extreme adaptation to these particularities. The development of Brazil is directly related to its capacity in expanding the offer of electric energy in the just measure of the national necessity. In this context, the small central hydroelectric (PCH's) represent, actually, an efficient and fast form to complete the offer of energy in such a way to supply the crescent demand the national market. For its characteristics, that type of undertaking can be developed by small manager, from among which are the owners of the areas in which on can find these hydraulic potentials which, however they do not dispose of capital to integral raising. These undertakings are tasks, normally, of low global cost, at the rate of US$ 1.000,00/k W, and of a smaller ambient impact, compared to the return that they give to the enterprise and to the Brazilian electric system as a whole, by having to receive special attention in the planned politics to the sector and to merit a series of incentives to become business still more attractive. By thinking in the found difficulty by small enterprises in rising undertakings of generation of electric energy of small port through the convectional mechanisms of financing is being proposed in that work a well-founded methodology in the concepts of the modality of financing project finance. (author)

Thirty years of financing research programs in the Netherlands 1975-2005. Historical trends, actual discussions

International Nuclear Information System (INIS)

Versleijen, A.; Van der Meulen, B.; Van Steen, J.; Boneschansker-Kloprogge, P.; Braam, R.; Mampuys, R.; Van den Besselaar, P.

2007-08-01

This report maps developments in project financing. The main objective of the project was to make a historical reconstruction of the volume and nature of public project financing from 1972 onwards. The study is also part of an international comparison in the framework of PRIME Network of Excellence. [mk] [nl

Public entrepreneurship as innovative management strategy in the public sector : a public choice-approach

OpenAIRE

van Mierlo, J.G.A.

1996-01-01

Paper Originally Presented at the 65th Annual Conference of the Southern Economic Association , Fairmont Hotel, New Orleans, Louisiana, United States of America, November 18-20, 1995. Bureaucratic service organisations in the public sector are increasingly loosing their previous comfortable monopoly positions in providing services to the public, due to radical structural changes in modern society. The public finance of their services by politicians ordering public services as elected represen...

Osobní a rodinné finance - finance vysokoškolského studenta

OpenAIRE

Palicová, Helena

2014-01-01

In this thesis, Personal and family finances, subtitled Finances of university student. It is discussed on the way to a happier life through management of personal finances. Just as it is necessary to control corporate finance, it is necessary everyone managed own personal finances. It is indicated as appropriate to tackle your finances,what to focus on, and it's practically demonstrated on the example of a university student. There are analyzed his goals and needs, then it is outlined possib...

Offsets - An opportunity of Financing

International Nuclear Information System (INIS)

PRIN, Coralie

2008-01-01

to the local institution. The offset valuation mechanisms leads to benefits for all parties: the project is implemented and this implementation is free of charge. For the Government: the project contributes to achieve its priorities without having to be financed on public funds. For the Obligor: its Offset obligation is compensated for a monetary value depending on the direct investment cost. Offset regulations are implemented in over 100 countries worldwide and are of common use on important public procurement markets. Examples of Countries implementing Offset regulations are: Austria, Brazil, Finland, Italy, Romania and many other

Financing petroleum agreements

International Nuclear Information System (INIS)

Robson, C.J.V.

1994-01-01

This chapter describes the typical type of financing agreements which are currently used to finance North Sea petroleum projects whether they are in the cause of development or have been developed and are producing. It deals with the agreements which are entered into to finance borrowings for petroleum projects on a non-resource or limited resource basis. (UK)

Ownership options, financing structures, and regulatory considerations affecting independent power production projects

International Nuclear Information System (INIS)

Knapp, G.M.

1990-01-01

In this paper is a framework for analysis of the legal, financing, and policy differences between independent power production projects (IPPs) and projects with qualifying facility status (QFs) under the Public Utility Regulatory Policies Act (PURPA). At a basic level, there is no fundamental difference in types of ownership and financing structures available to IPPs and QFS. The key consideration, though, is the regulatory and legal implications to project participants. Significant issues arise for equity participants, lenders, developers, and project operators that are considering IPP projects. Of course, many of these same issues apply to certain types of QF projects that are not fully exempt from the Public Utility Holding Company Act (PUHCA) and the Federal Power Act (FPA)

Climate finance, climate investors and assets for low emission development

Directory of Open Access Journals (Sweden)

Collins C Ngwakwe

2015-05-01

Full Text Available This research examines the relationship between climate finance, growth in climate investors and growth in climate assets for low emission development. It also evaluates the effect of climate policy evolution on the growth of climate investors and climate assets. Adopting a positivist paradigm, the paper makes use of a quantitative research approach and applies the causal and correlational research design. The paper made use of secondary data from the World Bank Carbon Finance Unit and from the Carbon Disclosure Project (ADP. The major objective was to examine the combined effect of climate finance and climate policy on the growth of carbon investors and carbon assets for the companies in the Carbon Disclosure Project which includes the 100 JSE companies. Findings from the test reveal that the combined effect of growth in climate finance and climate policy evolution has a significant relationship with growth in climate investors and climate assets. Given this result the paper proceeded to examine if the growth in climate finance has any correlation with South Africa’s emission reduction trend. Results however indicate that South Africa’s GHG emission trend does not correlate with climate finance availability; GHG emissions in South Africa have continued to soar despite a seeming growth in climate finance. The paper reasoned that the global climate finance might not be effectively available to corporates in South Africa at the expected level of financing to initiate the expected level of climate investment to effect a significant reduction in greenhouse gas emissions. This confirms literature assertions that global climate finance might not easily be accessible, at least to entities in developing countries. In conclusion, the paper suggests the establishment of a Southern African Climate Finance pool where the public and private sector can contribute and that such pool should be made easily available to carbon investors at a cheap rate with

Academic Discipline and Personal Finance Instruction in High School

Science.gov (United States)

Loibl, Cäzilia; Fisher, Patti J.

2013-01-01

Despite public support for personal finance instruction in high school, its effectiveness has not been firmly established. The current study investigates instructional approaches as a reason for these inconsistent outcomes by comparing survey responses of business education, family and consumer sciences, and social studies/economics teachers. The…

Commodities, energy and environmental finance

CERN Document Server

Ludkovski, Michael; Sircar, Ronnie

2015-01-01

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 ...

Democracy, Redistributive Taxation and the Private Provision of Public Goods

DEFF Research Database (Denmark)

Markussen, Thomas

) pointed to, is weakened and might even be reversed in this context. Also, the median voter may choose a negative tax rate, even if he is poorer than the mean, in order to stimulate public goods production. The relevance of the model is illustrated with an application to the finance of higher education.......The paper studies in a simple, Downsian model of political competition how the private provision of public goods is affected when it is embedded in a system of democracy and redistributive taxation. Results show that the positive effect of inequality on public goods production, which Olson (1965...

Application of the Analytic Hierarchy Process to Identify the Most Suitable Lessor of Freight Car Finance Leasing

Directory of Open Access Journals (Sweden)

Lei Lei

2017-01-01

Full Text Available Finance leasing (also “equipment leasing” saves the cost, improves the efficiency and benefit, larger the manufacture supply channels, which is an optimal solution for equipment supply with uncertain freight demand. The article collects the definitions of Finance Leasing based on the four pillars theory of finance leasing, also divides the lessors in Freight Car finance leasing into three categories according to their major business: manufacturers, banks as the representative financial institutions, firms that specialized in finance leasing. To identify the most suitable lessor for each railway department, an indicator system is built and operated by Yaahp (a software based on Analytic Hierarchy Process.

International energy financing

International Nuclear Information System (INIS)

Vedavalli, Rangaswamy

1994-01-01

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)

Customer Attraction in a Design-Build-Finance-Maintain-Operate Contract

NARCIS (Netherlands)

Favie, R.; Nordennen, van A.; Kleine, A.J.; Maas, G.J.; Ceric, A.; Radujkovic, M.

2009-01-01

In the Netherlands, large public customers use integrated contracts more and more often for complicated civil engineering and architectural works. Projects with integrated contracts such as Design, Build, Finance, Maintenance and Operate require tenderers to behave differently than they are

Improving equity in health care financing in China during the progression towards Universal Health Coverage.

Science.gov (United States)

Chen, Mingsheng; Palmer, Andrew J; Si, Lei

2017-12-29

China is reforming the way it finances health care as it moves towards Universal Health Coverage (UHC) after the failure of market-oriented mechanisms for health care. Improving financing equity is a major policy goal of health care system during the progression towards universal coverage. We used progressivity analysis and dominance test to evaluate the financing channels of general taxation, pubic health insurance, and out-of-pocket (OOP) payments. In 2012 a survey of 8854 individuals in 3008 households recorded the socioeconomic and demographic status, and health care payments of those households. The overall Kakwani index (KI) of China's health care financing system is 0.0444. For general tax KI was -0.0241 (95% confidence interval (CI): -0.0315 to -0.0166). The indices for public health schemes (Urban Employee Basic Medical Insurance, Urban Resident's Basic Medical Insurance, New Rural Cooperative Medical Scheme) were respectively 0.1301 (95% CI: 0.1008 to 0.1594), -0.1737 (95% CI: -0.2166 to -0.1308), and -0.5598 (95% CI: -0.5830 to -0.5365); and for OOP payments KI was 0.0896 (95%CI: 0.0345 to 0.1447). OOP payments are still the dominant part of China's health care finance system. China's health care financing system is not really equitable. Reducing the proportion of indirect taxes would considerably improve health care financing equity. The flat-rate contribution mechanism is not recommended for use in public health insurance schemes, and more attention should be given to optimizing benefit packages during China's progression towards UHC.

PRIORITY DIRECTIONS OF FINANCE MANAGEMENT SYSTEM DEVELOPMENT IN STATE BUSINESS AREA OF KAZAKHSTAN

Directory of Open Access Journals (Sweden)

Zh. Baybolatova

2013-08-01

Full Text Available The theoretical foundations of financial management in the public sector of economy in the transition to budgeting focused on the result are considered. It is established that in the context of deepening market reforms, efficiency of public sector depends not on the size of the state property, but on the efficiency of public finance management.

The Determinants of Debt Financing

OpenAIRE

Zhao, Chenkai

2013-01-01

Debt financing is an important part in capital structure. Over the fifty years, most scholars and researchers focus primarily on the balance between debt financing and equity financing. And only few research involve in types of debt financing, as well as the determinant of debt financing. This study is aim to analyse the determinate of debt financing, which examine that the influence by eight different elements. This dissertation examined by quantitative techniques with 591 UK listed comp...

[Determinants of equity in financing medicines in Argentina: an empirical study].

Science.gov (United States)

Dondo, Mariana; Monsalvo, Mauricio; Garibaldi, Lucas A

2016-01-01

Medicines are an important part of household health spending. A progressive system for financing drugs is thus essential for an equitable health system. Some authors have proposed that the determinants of equity in drug financing are socioeconomic, demographic, and associated with public interventions, but little progress has been made in the empirical evaluation and quantification of their relative importance. The current study estimated quantile regressions at the provincial level in Argentina and found that old age (> 65 years), unemployment, the existence of a public pharmaceutical laboratory, treatment transfers, and a health system orientated to primary care were important predictors of progressive payment schemes. Low income, weak institutions, and insufficient infrastructure and services were associated with the most regressive social responses to health needs, thereby aggravating living conditions and limiting development opportunities.

Healthcare Finance in the Kingdom of Saudi Arabia: A Qualitative Study of Householders' Attitudes.

Science.gov (United States)

Al-Hanawi, Mohammed Khaled; Alsharqi, Omar; Almazrou, Saja; Vaidya, Kirit

2018-02-01

The public sector healthcare system in Saudi Arabia, essentially financed by oil revenues and 'free at the point of delivery', is coming under increasing strain due to escalating expenditure and an increasingly volatile oil market and is likely to be unsustainable in the medium to long term. This study examines how satisfied the Saudi people are with their public sector healthcare services and assesses their willingness to contribute to financing the system through a national health insurance scheme. The study also examines public preferences and expectations of a future national health insurance system. A total of 36 heads of households participated in face-to-face audio-recorded semi-structured interviews. The participants were purposefully selected based on different socio-economic and socio-demographic factors from urban and rural areas to represent the geographical diversity that would presumably influence individual views, expectations, preferences and healthcare experiences. The evidence showed some dissatisfaction with the provision and quality of current public sector healthcare services, including the availability of appointments, waiting times and the availability of drugs. The households indicated a willingness to contribute to a national insurance scheme, conditional upon improvements in the quality of public sector healthcare services. The results also revealed a variety of preferences and expectations regarding the proposed national health insurance scheme. Quality improvement is a key factor that could motivate the Saudi people to contribute to financing the healthcare system. A new authority, consisting of a partnership between the public and private sectors under government supervision, could represent an acceptable option for addressing the variation in public preferences.

Tunisia: to finance energy management. Proceedings of the international conference, Hammamet (Tunisia), 2007

International Nuclear Information System (INIS)

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

2008-01-01

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

Federal government financing of grassroots decay in Nigeria: the ...

African Journals Online (AJOL)

... self-reproduction project typical of patron-client politics. In this context, it is assumed that phenomenal growth in statutory and allied revenues accruing to rural locales has not produced the desired development, but undesired decay. Key Words: Nigeria – Federal financing, Edo State, public administration, political science ...

Solar Photovoltaic Financing: Deployment on Public Property by State and Local Governments

Energy Technology Data Exchange (ETDEWEB)

Cory, K.; Coughlin, J.; Coggeshall, C.

2008-05-01

State and local governments have grown increasingly aware of the economic, environmental, and societal benefits of taking a lead role in U.S. implementation of renewable energy, particularly distributed photovoltaic (PV) installations. Recently, solar energy's cost premium has declined as a result of technology improvements and an increase in the cost of traditional energy generation. At the same time, a nationwide public policy focus on carbon-free, renewable energy has created a wide range of financial incentives to lower the costs of deploying PV even further. These changes have led to exponential increases in the availability of capital for solar projects, and tremendous creativity in the development of third-party ownership structures. As significant users of electricity, state and local governments can be an excellent example for solar PV system deployment on a national scale. Many public entities are not only considering deployment on public building rooftops, but also large-scale applications on available public lands. The changing marketplace requires that state and local governments be financially sophisticated to capture as much of the economic potential of a PV system as possible. This report examines ways that state and local governments can optimize the financial structure of deploying solar PV for public uses.

Education Finance in Egypt: Problems and a Possible Solution. Occasional Paper. RTI Press Publication OP-0017-1401

Science.gov (United States)

Healey, F. Henry; Crouch, Luis; Hanna, Rafik

2014-01-01

Egypt, currently in the throes of major political change, will likely undergo reforms of various sorts in the next few years. Some of these reforms are likely to give local entities, including schools, greater control over education finances. In 2007, the Government of Egypt began to decentralize some non-personnel recurrent finances from the…

Financing pharmaceuticals in transition economies.

Science.gov (United States)

Kanavos, P

1999-06-01

This paper (a) provides a methodological taxonomy of pricing, financing, reimbursement, and cost containment methodologies for pharmaceuticals; (b) analyzes complex agency relationships and the health versus industrial policy tradeoff; (c) pinpoints financing measures to balance safety and effectiveness of medicines and their affordability by publicly funded systems in transition; and (d) highlights viable options for policy-makers for the financing of pharmaceuticals in transition. Three categories of measures and their implications for pharmaceutical policy cost containing are analyzed: supply-side measures, targeting manufacturers, proxy demand-side measures, targeting physicians and pharmacists, and demand-side measures, targeting patients. In pursuing supply side measures, we explore free pricing for pharmaceuticals, direct price controls, cost-plus and cost pricing, average pricing and international price comparisons, profit control, reference pricing, the introduction of a fourth hurdle, positive and negative lists, and other price control measures. The analysis of proxy-demand measures includes budgets for physicians, generic policies, practice guidelines, monitoring the authorizing behavior of physicians, and disease management schemes. Demand-side measures explore the effectiveness of patient co-payments, the impact of allowing products over-the-counter and health promotion programs. Global policies should operate simultaneously on the supply, the proxy demand, and the demand-side. Policy-making needs to have a continuous long-term planning. The importation of policies into transition economy may require extensive and expensive adaptation, and/or lead to sub-optimal policy outcomes.

Change in the financing scheme for radioactive waste in Germany

International Nuclear Information System (INIS)

Svobodová, Tereza

2018-01-01

Financing radioactive waste management is an issue every country using nuclear power has to deal with. A European directive even makes this binding for Euratom Member States. Germany changed its financing scheme entirely during the past year, thereby moving closer to other states' schemes. Germany replaced the funds put aside by the operators with a public fund to which the companies contribute. Now it is the government that is responsible for radioactive waste. This paper describes the regulation and information collection system on the European level and analyses the former and current German systems, their advantages and potential hazards. (orig.)

POST BEHAVIORAL FINANCE ADOLESCENCE

Directory of Open Access Journals (Sweden)

ADRIAN MITROI

2016-12-01

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.

Educational Equity, Adequacy, and Equal Opportunity in the Commonwealth: An Evaluation of Pennsylvania's School Finance System

Science.gov (United States)

Baker, Bruce; Levin, Jesse

2014-01-01

Pennsylvania has historically operated one of the nation's least equitable state school finance systems, and within that system exist some of the nation's most fiscally disadvantaged public school districts. The persistent inequalities of Pennsylvania's school finance system are not entirely a result of simple lack of effort, as policies intended…

FINANCING OF INTERNATIONAL TRANSACTIONS

Directory of Open Access Journals (Sweden)

RADU NICOLAE BĂLUNĂ

2013-02-01

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

12 CFR 987.7 - Liability of Banks, Finance Board, Office of Finance and Federal Reserve Banks.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Liability of Banks, Finance Board, Office of Finance and Federal Reserve Banks. 987.7 Section 987.7 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE BOOK-ENTRY PROCEDURE FOR CONSOLIDATED OBLIGATIONS § 987.7 Liability of Banks, Finance Board, Office of Finance and Federal Reserve...

Export development financing

International Nuclear Information System (INIS)

Balint, J.

1995-01-01

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

Rate of Unverifiable Publications Among Ophthalmology Residency Applicants Invited to Interview.

Science.gov (United States)

Tamez, Heather M; Tauscher, Robert; Brown, Eric N; Wayman, Laura; Mawn, Louise A

2018-04-19

Unverifiable publications in applications for ophthalmology residencies could be a serious concern if they represent publication dishonesty. To determine the rate of unverifiable publications among applicants offered an interview. Retrospective review of 322 ophthalmology residency applications for entering classes 2012 to 2017 at Vanderbilt University School of Medicine, Nashville, Tennessee. Full-length publications reported in the applications were searched in PubMed, Google, Google Scholar, and directly on the journal's website. Applications were deemed unverifiable if there was no record of the publication by any of these means or if substantial discrepancies existed, such as incorrect authorship, incorrect journal, or a meaningful discrepancy in title or length (full-length article vs abstract). Inability to locate publication with search, incorrect author position, applicant not listed as an author, article being an abstract and not a published paper, substantial title discrepancy suggesting an alternative project, and incorrect journal. Of the 322 applicants offered interviews during the 6-year study period, 22 (6.8%) had 24 unverifiable publications. Two hundred thirty-nine of these applicants (74.2%) reported at least 1 qualifying publication; of this group, 22 (9.2%) had an unverifiable publication. The applications with unverifiable publications were evenly distributed across the years of the study (range, 2-6 per cycle; Pearson χ25 = 3.65; P = .60). Two applicants had 2 unverifiable publications each. Two of the 22 applicants (9.1%) with unverifiable publications were graduates of medical schools outside the United States. Among the unverifiable publications, the most common reason was inability to locate the publication (13 [54%]). Additional issues included abstract rather than full-length publication (5 [20.8%]), incorrect author position (4 [16.7%]), applicant not listed as an author on the publication (1 [4.2%]), and substantial title

The Theory of Finance: A novel finance model being formed on the Internet

OpenAIRE

Magomet Yandiev

2015-01-01

The present paper argues that the present Internet conditions favour an entirely new finance model. Understood to soon supplement the existing ones (classical finance, corporate finance, and Islamic finance), it is argued that the new model will be defined by the destructive effect it is to have on the contemporary financial infrastructure of most countries, and the advent of the ‘future money value exceeds its present one’ principle.

Finance and Management Services

Science.gov (United States)

Substance Misuse and Addiction Prevention Finance & Management Services Health Care Services Juvenile health care provider about vitamin D and the risks and benefits of supplementation. Finance and Management Services The Division of Finance and Management Services (FMS) provides financial, administrative

Project financing renewable energy schemes

International Nuclear Information System (INIS)

Brandler, A.

1993-01-01

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)

Yükseköğretimin Finansmanı ve Türkiye İçin Yükseköğretim Finansman Modeli Önerisi(Financing Higher Education: Proposal For Higher Education Model In Turkey

Directory of Open Access Journals (Sweden)

Haşim AKÇA

2012-01-01

Full Text Available Higher education is a mixed commodity. Considering its attribute, it is a service benefiting its users directly and society indirectly. Therefore it is necessary that higher education be catered continuously. In this context, higher education institutions should prompt the dynamics of societal development and lead the society toward better future. One of fundamental task for universities is to provide positive externalities for the entire society. However, universities often face important financial difficulties to extent the externalities they provide. In recent years alternative resources also are employed in financing higher education. For instance it is universally accepted application that some of the costs of higher education are accrued to the direct beneficiaries or the students. In some countries however higher education is solely funded by public resources because higher education in these countries is considered as public good. However in the recent years, a widespread belief suggests that public resources are not fit for efficient use, therefore alternative means of higher education finance are being explored. One such means appears to be an income-contingent system or student borrowing system. This method eases the burden of public finance and allows for students to assume a partial cost of higher education.

Is health care financing in Uganda equitable? | Zikusooka | African ...

African Journals Online (AJOL)

Results: Uganda's health sector remains significantly under-funded, mainly relying on private sources of financing, especially out-of-pocket spending. At 9.6 % of total government expenditure, public spending on health is far below the Abuja target of 15% that GoU committed to. Prepayments form a small proportion of ...

Green financing - Are European banks and insurers contributing?

International Nuclear Information System (INIS)

Kamelgarn, Yona; Blanc, Dominique

2015-02-01

The analysis of the public communication of the 32 largest banking and insurance groups led to the following observations. Awareness of the role of the financial sector in the transition to a low-carbon economy has grown since 2012, and companies are increasingly conducting environmental risk analysis. But these practices are more akin to risk management policies - initiated to limit exposure to the most controversial projects - than to real reallocation strategies contributing to the transition to a low-carbon economy. Information on green financing is developing but focuses more on image than on business activities. The companies in the sample are communicating more on their green financing, and in particular on their contribution to renewable energy projects. But the indicators are very heterogeneous, are not monitored over time and cannot be compared between companies. Generally speaking, banks and insurers have not committed to increase their allocations to green financing and fail to discuss the financing of fossil fuels. Information on environmental and social risk management policies is becoming more structured. Process consists in introducing sector-based policies, setting forth minimum standards below which companies do not invest, notably in the energy sector, as well as developing environmental and social (ES) risk analysis tools for transactions. Analyses theoretically encompass the environmental impact of financed activities, but little information exists on the type of criteria used. These practices, developed initially for project finance, have since been extended to other banking activities and, more recently, to insurance activities. Reporting on the environmental impact of financed products remains rudimentary. Over three-quarters of the companies in the sample acknowledge the environmental responsibility stemming from their business activities, but measures continue to focus on the impact of premises and business travel. While almost all the

From Finance Capitalism to Financialization

DEFF Research Database (Denmark)

Hansen, Per H.

2014-01-01

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......–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...

Report on the behalf of the Commission for finances, general economy and budgetary control on the finance bill project for 2018 (nr 235). Appendix Nr 18 - Ecology, sustainable development and mobility: energy, climate and after-mines, public service for energy, financing the support to communities for rural electrification, energy transition - Nr 273

International Nuclear Information System (INIS)

Giraud, Joel; Aubert, Julien

2017-01-01

After some general statements and recommendations regarding public policy issues expressed within the mission for Ecology, Sustainable Development and Mobility, and more particularly on some specific budgetary allocations related to the public policy for energy and its specific programmes, this report presents some key budget-related data. It outlines and discusses how the budget for 2018 commits the French energy policy in an ecological and supportive transition, and then states some critics about the bill project readability. It comments the adequacy between the budgetary effort and ambitions of the energy policy, notably by commenting the financing increase or decrease of some specific programmes. In the next part, the author focuses on the way to find a new momentum for nuclear energy in France. In this respect, he discusses known benefits of nuclear power, increasing risks which threaten the sector (ageing reactors, EPR construction delays, unresolved issue of management for some nuclear wastes, AREVA dismantling and EDF's fragile financial situation). He also discusses conditions to be met to find out sustainable solution to this crisis as the application of the energy transition trajectory will require a decrease of the number of operated nuclear reactors, ways to open perspectives by keeping on supporting research and by adopting a dynamic exporting approach, and the importance of a maintained attention in terms of nuclear safety. The report of Commission debates and hearing is provided

Responsive Regulation in Public-Private Partnerships: Between Deterrence and Persuasion

NARCIS (Netherlands)

Reynaers, A.-M.; Parrado, S.

Design-Build-Finance-Maintain-Operate (DBFMO) contracts are a particular type of public-private partnership whereby governments transfer the responsibility for the design, construction, financing, maintenance, and operation of a public infrastructure or utility service building to a multi-headed

New Public Financial Management and Its Legitimacy

Directory of Open Access Journals (Sweden)

Henry Kusuma Adikara

2015-09-01

Full Text Available This paper’s for discuss the importance of New Public Financial Management (NPFM legitimacy. As part of the new regulation in the finance sector, NPFM promotes the application of transparency and accountability of company expenditures, risk management and value for money. However, literature study revealed that NPFM is not implemented yet in the public organization, especially in the developing countries, like Indonesia. It is predicted that it is due to socio-cultural aspect of the implementation of NPFM does not meet the society expectations. This paper explores and suggests that socio-cultural aspect should be taken into account in the implementation of NPFM or NPM.

Financing of Political Parties and Electoral Campaigns in Republic of Macedonia

Directory of Open Access Journals (Sweden)

Farije ALIU

2016-07-01

made public. The law does not provide for submission of financial reports by donors of political parties. This is considered a disadvantage of this law and expressed doubt that allowing circulation of funds from illegal sources in the financing of election campaigns. Electoral Code prohibits election campaign financing by funds from the state budget. However, the organizers of the campaign receive compensation from the state budget if they won at least 1.5% of the total vote. Also political parties, their electoral campaigns financed from private sources in the form of membership fees, donations from individuals and legal entities. Despite the legal aspects on transparency, general public perception is that in a country where the economy in cash still plays an important role, transparency is generally low in practice and that political parties and candidates for elections receive and spend much more money than what is officially shown in the financial statements. Higher spending funds still dominate especially in the area of paid political advertisements. Transparency in political financing provides elected officials and leaders of political parties to be responsible for their finances and facilitate the monitoring of their integrity. Based on current practice can be said that despite the controls performed financial activities of political parties by the state institutions, punitive measures are not implemented despite the apparent state of inconsistency regarding the practice of financial reporting and transparency. In this scientific article is exhausted comparative and empirical methodology, which include an assessment of source funding for political parties and financing of election campaign for local elections in 2013, parliamentary and presidential elections in 2014. The methodology involves checking the legal framework as it is applied in practice in terms of transparency of political financing, compared with internationally recognized principles. By getting

Financing energy projects in Africa

International Nuclear Information System (INIS)

Godier, Kevin; Marks, Jon

1999-12-01

Contains Executive Summary and Chapters on: Overview of financing trends in Africa; Multilateral support - Bedrock of Africa's first generation energy projects; ECA insurance and financing; Bilateral development finance; Offshore commercial bank lending; Local commercial bank finance; Capital markets; Legal ramifications ; Risk factors; Conclusions. (Author)

Quantitative Finance

Science.gov (United States)

James, Jessica

2017-01-01

Quantitative finance is a field that has risen to prominence over the last few decades. It encompasses the complex models and calculations that value financial contracts, particularly those which reference events in the future, and apply probabilities to these events. While adding greatly to the flexibility of the market available to corporations and investors, it has also been blamed for worsening the impact of financial crises. But what exactly does quantitative finance encompass, and where did these ideas and models originate? We show that the mathematics behind finance and behind games of chance have tracked each other closely over the centuries and that many well-known physicists and mathematicians have contributed to the field.

项目融资在大型住宅房地产开发中的应用%Project Financing in Large Residential Real Estate Development Application

Institute of Scientific and Technical Information of China (English)

姜永铭; 史闻东

2013-01-01

　　大型住宅房地产项目开发日益成为我国房地产开发商的共同偏好。而大型项目的开发意味着大规模的资金投入，在国家对房地产业持续宏观调控的背景下，如何筹集足够的开发资金是房地产开发商面临的最为关键的问题。项目融资作为一种重要的国际金融工具，其独特的融资机制和在分散风险方面的特殊作用，使其在实际应用中发挥了重要作用，已成为大型工程项目建设资金筹集的卓有成效且日趋成熟的融资手段。然而，项目融资在房地产开发领域特别是大型住宅房地产开发领域尚未得到真正意义上的应用。因此，文章就项目融资在大型住宅房地产开发中的应用问题进行探索性研究，以期拓展项目融资的应用领域，增加房地产企业融资渠道，降低房地产企业融资风险。%　　Large residential real estate project development is increasingly becoming a common preference for real estate de-velopers in China. The development of large-scale projects means that the large-scale capital investment in the context of su-stained macroeconomic regulation and control of the state of the real estate industry, how to raise enough funds for developing the most critical issues facing the real estate developers. Project financing is a kind of important international financial tool, its unique financing mechanism and risk disperse special effects, so that in the practical application has played an important role, has become a large -scale project construction funds very fruitful and increasingly mature financing means. However, the project financing in the field of real estate development especially large residential real estate development area has yet to get a real sense of application. Therefore, this article on the project financing in large residential real estate development in the application of exploratory study, in order to expand the application of the

Geothermal Money Book [Geothermal Outreach and Project Financing

Energy Technology Data Exchange (ETDEWEB)

Elizabeth Battocletti

2004-02-01

Small business lending is big business and growing. Loans under $1 million totaled $460 billion in June 2001, up $23 billion from 2000. The number of loans under $100,000 continued to grow at a rapid rate, growing by 10.1%. The dollar value of loans under $100,000 increased 4.4%; those of $100,000-$250,000 by 4.1%; and those between $250,000 and $1 million by 6.4%. But getting a loan can be difficult if a business owner does not know how to find small business-friendly lenders, how to best approach them, and the specific criteria they use to evaluate a loan application. This is where the Geothermal Money Book comes in. Once a business and financing plan and financial proposal are written, the Geothermal Money Book takes the next step, helping small geothermal businesses locate and obtain financing. The Geothermal Money Book will: Explain the specific criteria potential financing sources use to evaluate a proposal for debt financing; Describe the Small Business Administration's (SBA) programs to promote lending to small businesses; List specific small-business friendly lenders for small geothermal businesses, including those which participate in SBA programs; Identify federal and state incentives which are relevant to direct use and small-scale (< 1 megawatt) power generation geothermal projects; and Provide an extensive state directory of financing sources and state financial incentives for the 19 states involved in the GeoPowering the West (GPW). GPW is a U.S. Department of Energy-sponsored activity to dramatically increase the use of geothermal energy in the western United States by promoting environmentally compatible heat and power, along with industrial growth and economic development. The Geothermal Money Book will not: Substitute for financial advice; Overcome the high exploration, development, and financing costs associated with smaller geothermal projects; Remedy the lack of financing for the exploration stage of a geothermal project; or Solve

Constructing New Finance Models That Balance Equity, Adequacy and Efficiency with Responsiveness. Education Finance in the States: Its Past, Present and Future. ECS Issue Paper.

Science.gov (United States)

Guthrie, James W.

Policymakers continue to face major challenges in education finance, despite a history of reforms. Today's challenges include ensuring financial adequacy, maintaining gains in distributional equality, coping with the increasing need for teachers, satisfying public preference for diversity in schools and programs, and devising performance…

Diverzifikace v analýze obalu dat ve financích

OpenAIRE

Macková, Simona

2014-01-01

Title: Diversification in Data Envelopment Analysis in Finance Author: Simona Macková Department: Department of Probability and Mathematical Statistics Supervisor: RNDr. Martin Branda, Ph.D., Department of Probability and Ma- thematical Statistics Abstract: This thesis deals with an extension of data envelopment analysis and its application in finance. This method enables to evaluate the efficiency of cho- sen production units based on several inputs and outputs. Administrative fees or risk m...