WorldWideScience

Sample records for public finance applications

  1. Public Library Finance.

    Science.gov (United States)

    Mason, Marilyn Gell

    This study reviews trends in public library finance; examines recent political, economic, and technological changes; and assesses the impact of these changes on public library services. A history of the public library in America is presented, as well as an analysis of the principles of economics and public finance which reveals that current…

  2. PUBLIC FINANCE FUNCTIONS

    Directory of Open Access Journals (Sweden)

    VEZURE OANA SABINA

    2011-09-01

    Full Text Available The emergence of public finances is due to objective causes needs and determined their main function being to obtain the financial resources it needs for the State to exercise its powers and on the way to intervene in the economy and society general. Public finances are necessary, subjectively and objectively, as it contributes to accomplishing the tasks and functions of the state, which could not be realized without financial leverage. Public finances are inextricably linked to the existence of the state, and public sector's role in the economy. Thus, they express "social relations, economic arising in the establishment and use of public funds between the state, on the one hand, and members of society on the other hand, to meet the needs of general interest of society" [1]. Thus, the role of public finance is to meet the needs of general interest or collective needs.

  3. Public Education Finances, 2006

    Science.gov (United States)

    US Census Bureau, 2008

    2008-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2006 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  4. Public Education Finances, 2008

    Science.gov (United States)

    US Census Bureau, 2010

    2010-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2008 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  5. Public Education Finances, 2007

    Science.gov (United States)

    US Census Bureau, 2009

    2009-01-01

    Every five years, the U.S. Census Bureau conducts a Census of Government Finance, as authorized by law under Title 13, U.S. Code, Section 182. The 2007 Census, similar to annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and assets (cash and…

  6. Public Education Finances, 2003

    Science.gov (United States)

    US Department of Commerce, 2005

    2005-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2003 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  7. Public Education Finances, 2005

    Science.gov (United States)

    US Census Bureau, 2007

    2007-01-01

    The United States Census Bureau conducts an Annual Survey of Government Finances as authorized by law under Title 13, United States Code, Section 182. The 2005 survey, similar to other annual surveys and censuses of governments conducted for many years, covers the entire range of government finance activities--revenue, expenditure, debt, and…

  8. Financing Public Service Broadcasting

    DEFF Research Database (Denmark)

    Berg, Christian Edelvold; Lund, Anker Brink

    2012-01-01

    Broadcasting (PSB) financing regimes in Europe, concluding that Denmark, Finland, Iceland, Norway, and Sweden may still be considered conventional, licence fee PSB countries, but with some interesting differences in relation to competitive and market oriented alternatives of resource provision...

  9. Comparative Politics and Public Finance

    OpenAIRE

    Persson, Torsten; Roland, Gerard; Tabellini, Guido

    2000-01-01

    This paper presents a model of electoral accountability to compare the public finance outcomes under a presidential-congressional and a parliamentary system. In a presidential-congressional system, contrary to a parliamentary system, there are no endogenous incentives for legislative cohesion, but this allows for a clearer separation of powers. These features lead to clear differences in the public finance performance of the two systems. A parliamentary system has redistribution towards a maj...

  10. PUBLIC FINANCING OF HEALTHCARE SERVICES

    Directory of Open Access Journals (Sweden)

    Agnieszka Bem

    2013-10-01

    Full Text Available Healthcare in Poland is mainly financed by public sector entities, among them the National Health Fund (NFZ, state budget and local government budgets. The task of the National Health Fund, as the main payer in the system, is chiefly currently financing the services. The state budget plays a complementary role in the system, and finances selected groups of services, health insurance premiums and investments in healthcare infrastructure. The basic role of the local governments is to ensure access to the services, mostly by performing ownership functions towards healthcare institutions.

  11. French public finances at risk?

    Directory of Open Access Journals (Sweden)

    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.

  12. Population ageing and public finance targets

    OpenAIRE

    Heikki Oksanen

    2003-01-01

    The paper incorporates intergenerational fairness into a framework to analyse long-term sustainability of public finances under population ageing. It establishes a link between ageing-related public expenditure projections and public finance targets, thereby clarifying the connection between pension reforms and general government budget balance and debt targets.

  13. New Financing Schemes of Public Infrastructure

    OpenAIRE

    Ignacio de la Riva

    2017-01-01

    Public works procurements and concessions are traditional legal techniques used to shape the financing of public infrastructure. Fiscal constraints faced by public administrations at the end of the 20th century, and the subsequent increase of private participation in the provision of public goods and services, encouraged the development of new legal schemes allowing a higher degree of private investment in public infrastructure; such as Public Private Partnerships, project finance, securitiza...

  14. Redistributive effects in public health care financing.

    Science.gov (United States)

    Honekamp, Ivonne; Possenriede, Daniel

    2008-11-01

    This article focuses on the redistributive effects of different measures to finance public health insurance. We analyse the implications of different financing options for public health insurance on the redistribution of income from good to bad health risks and from high-income to low-income individuals. The financing options considered are either income-related (namely income taxes, payroll taxes, and indirect taxes), health-related (co-insurance, deductibles, and no-claim), or neither (flat fee). We show that governments who treat access to health care as a basic right for everyone should consider redistributive effects when reforming health care financing.

  15. New Financing Schemes of Public Infrastructure

    Directory of Open Access Journals (Sweden)

    Ignacio de la Riva

    2017-01-01

    Full Text Available Public works procurements and concessions are traditional legal techniques used to shape the financing of public infrastructure. Fiscal constraints faced by public administrations at the end of the 20th century, and the subsequent increase of private participation in the provision of public goods and services, encouraged the development of new legal schemes allowing a higher degree of private investment in public infrastructure; such as Public Private Partnerships, project finance, securitizations, the shadow toll, turn-key agreements, public leasing and public trusts.

  16. Bank Accounts for Public Finance Agencies Income

    Directory of Open Access Journals (Sweden)

    Paweł Lenio

    2014-03-01

    Full Text Available The subject of this paper are bank accounts for public finance agencies income. The article describes characteristics of accounts for all three kinds of agencies: government and municipal units working in regards to statue of education and units with headquarters in foreign countries. The author presents a detailed directory of income for particular accounts and the allocation of said income. This paper also deals with the optionality of those dedicated bank accounts and the competence for erecting them. In a smaller scope there are presented the controversies of establishing bank accounts for public finance agencies income in the past, before the current statue of public finance.

  17. Assessing future sustainability of french public finances

    OpenAIRE

    Creel, Jérôme; Hubert, Paul; Saraceno, Francesco

    2013-01-01

    This paper contributes to the debate on the French public finances' consolidation by investigating the long-term sustainability of France's fiscal position. We trace the historical trends of government's tax receipts and expenditures. We find that while the level of public expenditure in France is larger than in the rest of the Euro Area (mostly because of public wages and social benefits), its trend is comparable to its neighbours. Net lending is also under control, thanks to the high levels...

  18. [Project financing in public hospital trusts].

    Science.gov (United States)

    Contarino, F; Grosso, G; Mistretta, A

    2009-01-01

    The growing debate in recent years over how to finance public works through private capital has progressively highlighted the role of project finance (PF) and publicprivate partnerships (PPP) in general. More and more European countries are turning to PF to finance their public infrastructure development. The UK, which pioneered the adoption of project finance in this field, has been followed by Italy, Spain, France, Portugal and Germany and more recently by Greece, Czech Republic and Poland. Beginning in the late 1990's, Italy has steadily amplified its use of PF and PPPs in key sectors such as healthcare as an alternative way of funding the modernisation of its health facilities and hospitals. The trend reveal an average annual growth of 10.9% since 2002 with peaks of varying intensity over the five year period. Project finance and PPPs represent an effective response to the country's infrastructure gap and support the competitiveness of local systems and the quality of public services. None of this will transpire, however without energetic new planning efforts and adequate policy at the centre.

  19. The Financing of Spanish Public Universities.

    Science.gov (United States)

    Mora, Jose-Gines; And Others

    1995-01-01

    A discussion of new financing models for Spain's public universities first looks at recent institutional changes; the evolution of the university system over the last decade in terms of student, financial, and human resources; its situation within the international context; student demand; graduate output; and labor market demand for graduates.…

  20. 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 exa

  1. Poverty & health: criticality of public financing.

    Science.gov (United States)

    Duggal, Ravi

    2007-10-01

    Countries with universal or near universal access to healthcare have health financing mechanisms which are single-payer systems in which either a single autonomous public agency or a few coordinated agencies pool resources to finance healthcare. This contributes to both equity in healthcare as well as to low levels of poverty in these countries. It is only in countries like India and a number of developing countries, which still rely mostly on out-of-pocket payments, where universal access to healthcare is elusive. In such countries those who have the capacity to buy healthcare from the market most often get healthcare without having to pay for it directly because they are either covered by social insurance or buy private insurance. In contrast, a large majority of the population, who suffers a hand-to-mouth existence, is forced to make direct payments, often with a heavy burden of debt, to access healthcare from the market because public provision is grossly inadequate or non existent. Thus, the absence of adequate public health investment not only results in poor health outcomes but it also leads to escalation of poverty. This article critically reviews the linkages of poverty with healthcare financing using evidence from national surveys and concludes that public financing is critical to good access to healthcare for the poor and its inadequacy is closely associated with poverty levels in the country.

  2. PUBLIC FINANCE SUSTAINABILITY IN ROMANIA. RECENT DEVELOPMENTS

    Directory of Open Access Journals (Sweden)

    Mura Petru-Ovidiu

    2015-07-01

    Full Text Available The main objective of this paper is to evaluate the sustainability of public finance in Romania and to explore the fiscal threats Romania might face in the future. A sound fiscal policy implies avoiding excessive liabilities of the government, but at the same time delivering the proper public goods and services, including the necessary safety net in times of crisis. An unsustainable fiscal position negatively impacts on macroeconomic stability; moreover, if public finances are perceived to be unsustainable in the long run, the reaction of the international financial markets could generate a fiscal crisis, which might surprise the fiscal planners. The main findings of the paper are the following: i according to the multidimensional approach of the European Commission, in the short run, it seems that Romania is free from fiscal stress, there is a low risk in the medium term, and in the long run the risk becomes medium; ii a potential medium-term fiscal sustainability risk derives from the accumulation of losses and arrears in the business and companies sectors in which the state is a majority shareholder; iii Romania records one of the lowest budget revenues to GDP ratios in EU, while the Romanian tax system is characterized by a poor tax collection, inefficient administration and excessive bureaucracy; iv the structure of public spending in Romania is characterized by the predominance of wage spending and social assistance, while the poor state of the public pension system is an important vulnerability of the public finance position; v overall, the degree of tax compliance in Romania was only 55.8% in 2013, and according to the calculations made by the Fiscal Council, tax evasion represented 16.2% of GDP in 2013. All these aspects make up a grim picture of sustainability of public finances, which has to be considered by the public decision makers regarding future fiscal policy actions.

  3. 75 FR 38158 - Korea Finance Corporation; Notice of Application

    Science.gov (United States)

    2010-07-01

    ... COMMISSION Korea Finance Corporation; Notice of Application June 25, 2010. AGENCY: Securities and Exchange... Finance Corporation (``Applicant''). SUMMARY: Summary of Application: Applicant, a policy finance...-owned policy finance institution established by the Korean Government on October 28, 2009, pursuant...

  4. Public Finance in China since the Late Qing Dynasty

    OpenAIRE

    Krug, Barbara

    2008-01-01

    textabstractHow is "public finance" organized in China? Is China’s public finance system different from that of other countries? Can we detect features which link today’s system to the past? Public finance refers to more than annual state budgets and constitutional procedures. It includes foreign debt, state monopolies or monetary policies, all of which played a crucial role in China’s public finance during the last hundred years. A purely legislative definition obscures the fact that changes...

  5. Public Finance in China since the Late Qing Dynasty

    NARCIS (Netherlands)

    B. Krug (Barbara)

    2008-01-01

    textabstractHow is "public finance" organized in China? Is China’s public finance system different from that of other countries? Can we detect features which link today’s system to the past? Public finance refers to more than annual state budgets and constitutional procedures. It includes foreign

  6. Public Finance in China since the Late Qing Dynasty

    NARCIS (Netherlands)

    B. Krug (Barbara)

    2008-01-01

    textabstractHow is "public finance" organized in China? Is China’s public finance system different from that of other countries? Can we detect features which link today’s system to the past? Public finance refers to more than annual state budgets and constitutional procedures. It includes foreign de

  7. Bank Accounts for Public Finance Agencies Income

    OpenAIRE

    Paweł Lenio

    2014-01-01

    The subject of this paper are bank accounts for public finance agencies income. The article describes characteristics of accounts for all three kinds of agencies: government and municipal units working in regards to statue of education and units with headquarters in foreign countries. The author presents a detailed directory of income for particular accounts and the allocation of said income. This paper also deals with the optionality of those dedicated bank accounts and the competence for er...

  8. The Basic Public Finance of Public-Private Partnerships

    OpenAIRE

    Engel, Eduardo M. R. A.; Fischer, Ronald D.; Galetovic, Alexander

    2007-01-01

    Public-private partnerships (PPPs) have been justified because they release public funds or save on distortionary taxes. However, the resources saved by a government that does not finance the upfront investment are offset by giving up future revenue flows to the concessionaire. If a PPP can be justified on efficiency grounds, the PPP contract that optimally balances demand risk, userfee distortions and the opportunity cost of public funds has a minimum revenue guarantee and a revenue cap. The...

  9. The Basic Public Finance of Public-Private Partnerships

    OpenAIRE

    Eduardo M.R.A. Engel; Ronald D. Fischer; Galetovic, Alexander

    2007-01-01

    Public-private partnerships (PPPs) have been justified because they release public funds or save on distortionary taxes. However, the resources saved by a government that does not finance the upfront investment are offset by giving up future revenue flows to the concessionaire. If a PPP can be justified on efficiency grounds, the PPP contract that optimally balances demand risk, userfee distortions and the opportunity cost of public funds has a minimum revenue guarantee and a revenue cap. The...

  10. FINANCING POLICIES OF CROATIAN PUBLICLY LISTED FIRMS

    Directory of Open Access Journals (Sweden)

    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.

  11. Population ageing, labour markets and the outlook for public finances

    OpenAIRE

    Helvi Kinnunen

    2002-01-01

    Keeping public finances on a sustainable foundation while the population ages is clearly a problem in Finland, as in many other western countries. The shrinking of the working-age population, ageing of the labour force, and growth in the number of very old persons form a difficult combination vis-à-vis sustainable public finances. An age structure that is changing in unfavourable ways has long-run consequences for balance of public finances and room for fiscal policy. With structural unemploy...

  12. The Conference ""Theoretical and Practical Aspects of Public Finance"" 2001

    OpenAIRE

    David Trytko

    2001-01-01

    The Public Finance department of the University of Economic in Prague (VŠE Praha) sponsored an international conference on ""The Theoretical and Practical Aspects of Public Finance. The main topics included fiscal decentralisation, the efficiency of the public sector, EU enlargement, and the role of the EU structural funds.

  13. Financing options for public electric systems

    Energy Technology Data Exchange (ETDEWEB)

    Perkins, C.M.

    Public utilities, traditionally restricted in sources of capital, in recent years have developed innovations in financing. The predominant method for raising capital is long-term revenue bonds. Newer devices include warrants (attached to bonds; must be exercised within stated time), variable rates, deep discount (bond carrying coupon 300 to 400 basis points less than market interest, purchased 20 to 30% below face value), calls and puts (call prohibits redemption for stated time; put allows early specified redemption), defeasance (issue of refunding bonds at lower interest rate to refund earlier issues), shelf registration (official statement ready on moment's notice), insurance on principal and interest, leasing arrangements, lines of credit, tax-exempt commercial paper, bond anticipation notes, minibonds, cash management, and techniques such as swaps, options, and futures. 3 figures, 1 table.

  14. 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…

  15. Financing Public Security: Tax and Non-tax Instruments to Finance Citizen Security and Crime Prevention

    OpenAIRE

    Isaias Coelho

    2013-01-01

    Drawing on the innovative sources of financing for public security that have developed in Latin American and the Caribbean in recent years, this paper reviews the main revenue instruments that can be used to finance various aspects of citizen security. The paper focuses on the structure of financing for the security budget and does not attempt to provide an assessment of expenditure needs and efficiency. If an in-depth country analysis concludes that more resources are needed, the paper provi...

  16. PROJECT BONDS IN FINANCING PUBLIC-PRIVATE PARTNERSHIPS IN UKRAINE

    Directory of Open Access Journals (Sweden)

    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.

  17. PROJECT BONDS IN FINANCING PUBLIC-PRIVATE PARTNERSHIPS IN UKRAINE

    OpenAIRE

    2014-01-01

    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.

  18. 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.

  19. Applications of Entropy in Finance: A Review

    Directory of Open Access Journals (Sweden)

    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.

  20. M-X Environmental Technical Report. Public Finance Model.

    Science.gov (United States)

    1980-12-22

    7AD-A095 802 HENNINGSON DURHAM AND RICHARDSON SANTA 1BAR1BARA CA - UF/A 16/1 MA -x E VIRONMENT L fECHN AL REPORT. PUBLIC FINANCE MODEL. U) DEC A0...CATALOG NUMBER 4. TITLE (and Subtitle) 5. PERIOD COVERED-........... . Final1 M-X Environmental Technical Report, Public Finance Model , 6. PERFORMING ORG...KEY WORDS (Continue on reverse side If necessary and Identify by block number) Public Finance Texas iting Analysis Nevada New Mexico viromnental Report

  1. Public Finance, Public Economics, and Public Choice: A Survey of Undergraduate Textbooks.

    Science.gov (United States)

    Hewett, Roger S.

    1987-01-01

    Reviews undergraduate public finance textbooks for content, difficulty, and ideology. Includes tables summarizing the percentage space devoted to specific topics in 13 popular textbooks. Offers suggestions for supplementary materials. (Author/DH)

  2. Ways to Finance Investments within the Local Public Administration

    Directory of Open Access Journals (Sweden)

    Monica Daniela TEŞU (PĂSCULESCU

    2011-12-01

    Full Text Available The aim of this study is to disclose several ways to finance investments within the local public administration. The study has revealed that the investments in local public administration may be made by establishing public-private partnerships, attracting and using grant funds and using loans to finance public services and investments in local infrastructure with governments’ warranties or local authorities’ warranties. This study provides a realistic background for finding solutions to the problems encountered by the local public administration in order not only to surmount the economic crisis, but to upturn the international investments in Romanian infrastructure.

  3. Public finance and education during the radical period in Colombia

    Directory of Open Access Journals (Sweden)

    Alba Marlén Torres

    2012-06-01

    Full Text Available Public Finance is a key component in the economic policy. It has to do with the resource management as a part of the economic development. Likewise, education financed by public resources depends on the allocation of funds. At the end of XIX century and the beginning of the XX century the radical liberals received the classical free-trade ideas. They tried to find the way to the modern development through the expanding borders, and also were the promoters of the educative system. Accordingly with this historic background, the Public Finance aims at analyzing the Estate activities financing in order to contribute to their carrying out without altering the economy performance, and highlighting the education during the analysis period.

  4. Public/private financing in the Greek health care system: implications for equity.

    Science.gov (United States)

    Liaropoulos, L; Tragakes, E

    1998-02-01

    The 1983 health reforms in Greece were indirectly aimed at increasing equity in financing through expansion of the role of the public sector and restriction of the private sector. However, the rigid application of certain measures, the failure to change health care financing mechanisms, as well as growing dissatisfaction with publicly provided services actually increased the private share of health care financing relative to that of the public share. The greatest portion of this increase involved out-of-pocket payments, which constitute the most regressive form of financing, and hence resulted in reduced equity. The growing share of private insurance financing, though as yet quite small, has also contributed to reducing equity. Within public funding, while a small shift has occurred in favor of tax financing, it is questionable whether this has contributed to increased equity in view of widespread tax evasion. On balance, it is most unlikely that the 1983 health care reforms have led to increased equity; it is rather more likely that the system in operation today is more inequitable from the point of view of financing than the highly inequitable system that was in place in the early 1980s.

  5. The economics of infrastructure finance: Public-private partnerships versus public provision

    OpenAIRE

    Engel, Eduardo M. R. A.; Fischer, Ronald D.; Galetovic, Alexander

    2010-01-01

    We examine the economics of infrastructure finance, focusing on public provision and Public-Private Partnerships (PPPs). We show that project finance is appropriate for PPP projects, because there are few economies of scope and because assets are project specific. Furthermore, we suggest that the higher cost of finance of PPPs is not an argument in favour of public provision, since it appears to reflect the combination of deficient contract design and the cost-cutting incentives embedded in P...

  6. The economics of infrastructure finance: Public-private partnerships versus public provision

    OpenAIRE

    Eduardo M.R.A. Engel; Ronald D. Fischer; Galetovic, Alexander

    2010-01-01

    We examine the economics of infrastructure finance, focusing on public provision and Public-Private Partnerships (PPPs). We show that project finance is appropriate for PPP projects, because there are few economies of scope and because assets are project specific. Furthermore, we suggest that the higher cost of finance of PPPs is not an argument in favour of public provision, since it appears to reflect the combination of deficient contract design and the cost-cutting incentives embedded in P...

  7. 公私合作制在我国电信融资中的应用研究%Research on Application of Public-Private Partnership in Financing for Telecommunications in China

    Institute of Scientific and Technical Information of China (English)

    岳宇君; 吴洪

    2012-01-01

    多元化融资渠道,吸引更多的民间资本参加电信建设,是提高我国电信融资的一种有效方式。本文将在分析电信基础设施特征、政策环境、实践经验和电信融资需求的基础上提出公私合作制(PPP)在我国电信融资中的应用思路,完善法律法规,选择合适的PPP类型,并通过设计合理的定价机制和风险分担机制来推进PPP模式在我国电信融资中的应用。%It is an effective way of getting more financing for telecommunications construction in China to make the investments channel multiple for attracting more investments.The ideas of the Public-Private Partnership(PPP) applied in financing for telecommunications are based on the analysis of telecommunication infrastructure's characteristics,environment of policy,practical experience and demand for financing for telecommunications.Improving laws and regulations,selecting the appropriate type of PPP and designing rational pricing mechanisms and risk-sharing mechanisms promote the application of PPP mode in the financing for telecommunications in China.

  8. Teaching Public Finance Administration Online: A Case Study.

    Science.gov (United States)

    Ebdon, Carol

    1999-01-01

    A case study of an online masters course in public finance administration, conducted primarily through texts and electronic bulletin boards with no face-to-face contact, found advantages (time and space independence) and disadvantages (lack of interaction with instructors) for both faculty and students. Although student grades equaled those in…

  9. Public debt, secular stagnation and functional finance

    DEFF Research Database (Denmark)

    Skott, Peter

    2016-01-01

    Fiscal policy and public debt may be required to maintain full employment and avoid secular stagnation. This conclusion emerges from a range of different models, including OLG specifications and stock-flow consistent (post-) Keynesian models. One of the determinants of the required long-run debt ...

  10. 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 ...

  11. The Potential Impact of Banking Crises on Public Finances: An Assessment of Selected EU Countries Using SYMBOL

    OpenAIRE

    CAMPOLONGO Francesca; MARCHESI Massimo; DE LISA Riccardo

    2011-01-01

    This paper presents an application of the SYMBOL model, recently developed by the European Commission, in assessing the potential impact of banks’ crisis on public finance in four EU Member States. Results show that two Member States have a relatively high probability of being in the situation where government finances have to cover losses generated in the banking system

  12. Money and Finance as Global Public Goods

    Directory of Open Access Journals (Sweden)

    Guido Montani

    2011-10-01

    Full Text Available The 2007-2008 financial crisis caused not only a dramatic fall in global output and employment but also a serious deterioration of public indebtedness for many governments, forced to rescue the banking system from failure. The crisis showed that national governments are not able to regulate the global market by means of the traditional instruments of political economy. The aim of this article is to identify new supranational instruments of economic policy. As a first step, to avoid a new financial crisis, it is necessary to understand the intimate connection between the international monetary system, founded on the dollar as key currency, and the international financial system. Only some economists were able to see the causes of the recent crisis as a by-product of an asymmetric monetary system. In this article, after having discussed the monetary roots of the financial crisis, the discussion is focused on monetary sovereignty, financial sovereignty, and fiscal sovereignty as the main economic responsibilities of a national government, to show that, today, a supranational economic government should have similar powers. An appendix (disposable on the website of the author on “Global imbalances: A false objective of economic policy” shows how the balance of payments imposes wrong goals to national economic policies. The discussion is focused on (a the neo-Ricardian theory of economic integration, (b financial capital flows, and (c the Keynesian equations of an open economy.

  13. Public and private donor financing for health in developing countries.

    Science.gov (United States)

    Howard, L M

    1991-06-01

    Among the many variables that influence the outcome of national health status in both developed and developing countries, the availability and efficiency of financing is critical. For 148 developing countries, annual public and private expenditures from domestic sources (1983) were estimated to be approximately $100 billion. For the United States alone, annual public and private costs for medical care are almost five times larger ($478 billion, 1988). In contrast to domestic expenditures, the total flow of donor assistance for health in 1986 was estimated to be $4 billion, approximately 5% of total current domestic expenditures by developing countries. Direct donor assistance for development purposes by the United States Government approximates 0.5% of the US federal budget (1988). Approximately 10% of all United States development assistance is allocated for health, nutrition, and population planning purposes. While the total health sector contribution is on the order of $500 million annually, the US contribution represents about 13% of health contributions by all external donors. In sub-Saharan Africa, all donor health allocations only reach 3.4% of total development assistance. While available data suggest that private and voluntary organizations contribute approximately 20% of total global health assistance, data reporting methods from private agencies are not sufficiently specific to provide accurate global estimates. Clearly, developing countries as a whole are dependent on the efficient use of their own resources because external financing remains a small fraction of total domestic financing. Nevertheless, improvement in health sector performance often depends on the sharing of western experience and technology, services available through external donor cooperation. In this effort, the available supply of donor financing for health is not restricted entirely by donor policy, but also by the official demand for external financing as submitted by developing

  14. Public finance policy strategies to increase access to preconception care.

    Science.gov (United States)

    Johnson, Kay A

    2006-09-01

    Policy and finance barriers reduce access to preconception care and, reportedly, limit professional practice changes that would improve the availability of needed services. Millions of women of childbearing age (15-44) lack adequate health coverage (i.e., uninsured or underinsured), and others live in medically underserved areas. Service delivery fragmentation and lack of professional guidelines are additional barriers. This paper reviews barriers and opportunities for financing preconception care, based on a review and analysis of state and federal policies. We describe states' experiences with and opportunities to improve health coverage, through public programs such as Medicaid, Medicaid waivers, and the State Children's Health Insurance Program (SCHIP). The potential role of Title V and of community health centers in providing primary and preventive care to women also is discussed. In these and other public health and health coverage programs, opportunities exist to finance preconception care for low-income women. Three major policy directions are discussed. To increase access to preconception care among women of childbearing age, the federal and state governments have opportunities to: (1) improve health care coverage, (2) increase the supply of publicly subsidized health clinics, and (3) direct delivery of preconception screening and interventions in the context of public health programs.

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

    OpenAIRE

    2016-01-01

    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 ...

  16. A Review of Public Community College Financing: A Report of the Committee to Study Community College Financing.

    Science.gov (United States)

    Waren, B.; And Others

    The Illinois Board of Higher Education appointed a committee to study: (1) the development and the advantage and disadvantages of the present system of financing; (2) the financial systems of other states with highly developed public educational (community college) systems; (3) the major alternative schemes of financing for the future; and (4)…

  17. Do personal characteristics of finance ministers affect the development of public debt?

    OpenAIRE

    Moessinger, Marc-Daniel

    2012-01-01

    Using a unique dataset of personal characteristics of national finance ministers in Europe (1980 - 2010), I show that especially a finance minister's experience affects the development of public debt. Both a finance minister's experience gained in office and his political experience have an impact: The change of the debt to GDP ratio is negative the more experience a finance minister has gained as a minister of finance or in former positions as a national cabinet member. While the former resu...

  18. 75 FR 21146 - Public Input on Reform of the Housing Finance System

    Science.gov (United States)

    2010-04-22

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Public Input on Reform of the Housing Finance System AGENCIES: Office of the Undersecretary for Domestic Finance, Department of the Treasury; Office of the Assistant... Development (HUD) seek public input on establishing a more stable and sound housing finance system....

  19. 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.

  20. Financing European Public Policies under New Challenges’ Impact

    Directory of Open Access Journals (Sweden)

    Romeo Victor Ionescu

    2016-12-01

    Full Text Available The paper deals to the idea that supranational and national public administrations face to new challenges not only in 2016. The changes in the European public policies have to be supported by changes in the financing process. As a result, new structures for the annual budgets started from 2015. A comparative analysis of the EU budgets for 2015, 2016, 2017 and the financial perspective 2014- 2020 offers a scientific point of view about the present and future problems which have to be solved by public administration. Moreover, the analysis of the tendencies is realised in the context of other research in this topic area. The main conclusion of the analysis is that EU became very prudent in building its annual budgets and use buffer stock in the budget framework. The analysis and its conclusions are supported by the latest official statistical data, pertinent tables and diagrams.

  1. 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…

  2. TRANSPORTATION BOT SCHEMES FOR PUBLIC AND PRIVATE SECTOR FINANCING SCENARIO ANALYSIS

    Directory of Open Access Journals (Sweden)

    Chien-Hung WEI

    2002-01-01

    Full Text Available 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 questionnaire to find out the most important factors affecting BOT financing. The findings of this study are four major factors affecting public and private financing scenarios. In this paper, we also propose some suggestions as possible complements to public and private sector financing strategies.

  3. Public Financial Management in Indonesia: Review of Islamic Public Finance

    OpenAIRE

    Jaelani, Aan

    2017-01-01

    Public financial management by the government is very important in view of the level of welfare in Indonesia is still low, as there are still much poverty with the level of fulfillment of the needs of low, corruption that occurs in every area of government, income distribution is uneven, low economic growth, and various irregularities other budget. With a qualitative approach that emphasises the phenomenon of the social reality and the country's financial management practices in Indonesia, th...

  4. 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

  5. Public health services and systems research: current state of finance research.

    Science.gov (United States)

    Ingram, Richard C; Bernet, Patrick M; Costich, Julia F

    2012-11-01

    There is a growing recognition that the US public health system should strive for efficiency-that it should determine the optimal ways to utilize limited resources to improve and protect public health. The field of public health finance research is a critical part of efforts to understand the most efficient ways to use resources. This article discusses the current state of public health finance research through a review of public health finance literature, chronicles important lessons learned from public health finance research to date, discusses the challenges faced by those seeking to conduct financial research on the public health system, and discusses the role of public health finance research in relation to the broader endeavor of Public Health Services and Systems Research.

  6. 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...

  7. State Policy Initiatives for Financing Energy Efficiency in Public Buildings.

    Science.gov (United States)

    Business Officer, 1984

    1984-01-01

    Alternative financing methods (other than state financing) for developing cost-effective energy efficiency projects are discussed. It is suggested that by properly financing energy efficiency investments, state campuses can generate immediate positive cash savings. The following eight initiatives for maximizing energy savings potential are…

  8. Finance

    OpenAIRE

    2011-01-01

    Ces deux ouvrages tirent les enseignements de l’impact de la crise de la finance mondiale sur l’économie réelle et se focalisent, dans ce contexte, sur le financement du Mittelstand. Le banquier JASCHINSKI, lorsqu’il passe en revue le système bancaire allemand, constate ainsi que si les moyennes entreprises trouvent les crédits nécessaires auprès de leurs solides partenaires de toujours que sont les Sparkassen, les grandes sociétés, internationales, que compte le Mittelstand n’ont pas de part...

  9. The discussion about the application of trust financing in public hospitals under the new background%新形势下信托融资在公立医院中的应用探讨

    Institute of Scientific and Technical Information of China (English)

    雒敏; 黄亚新; 孔练花

    2013-01-01

    Trust financing is a new financial instrument on the market at present.Combined with the new health reform and macroeconomic background,the paper firstly summarized the basic theory of public hospitals'trust financing,discussed the feasibility of public hospitals'trust financing,then put forward some policy suggestions for how to perfect trust financing for public hospitals from improving external environment,increasing government support,optimizing of hospital risk mitigation mechanism and income security mechanism,regulating hospital project information disclosure,training professional talents on the basis of analysis of three models of public hospitals' trust financing.%信托融资是目前市场上新型的金融工具,本研究首先对公立医院利用信托融资的基本理论进行概述,然后对公立医院利用信托融资的可行性进行讨论,最后在对现有公立医院利用信托融资的3种模式进行分析的基础上,从改善外部信托环境、加大政府扶持力度、优化医院风险化解机制和收益保障机制、规范医院项目信息披露、培育专业人才5个方面提出完善公立医院利用信托融资的对策建议.

  10. The Sustanability of Public Finance in New Members States of European Union

    Directory of Open Access Journals (Sweden)

    Adrian INCEU

    2011-10-01

    Full Text Available The issue of public finance sustainability is very important for all EU member states in the actual context after the economic crisis. This article makes an analysis of the sustainability of public finances for the new member states (which joined EU in 2004 and 2007. Firstly, we try to analyze the impact of the economic crisis on public finances sustainability. The sustainability of public finances can be reflected through the level of public debt and budget deficit for a country. For this reason the article presents the evolution of budget deficits for NMS 12 before and after the recent economic crisis. Based on the econometric regression the correlation between economic growth rate (indicator used for measuring the economic evolution and the budget deficit is revealed. Results for Romania and NMS 12 are quite similar; fact that tells us that the status of public finances is following the same trend in Romania as in the NMS 12.

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

    Directory of Open Access Journals (Sweden)

    Erkan Poyraz

    2016-06-01

    Full Text Available 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 has found the limited number of application and has not yet fully known in Turkey due to the lack of incentives. In line with the scope of the study, venture capital financing practices in Turkey is compared, and the impact of these practices on the economy is investigated. This study is highlighted how venture capital financing model triggers initiatives. The study is also focused on the impact of venture capital in terms of sustainability. At last, some recommendations are given on improving the processes in terms of venture capital parties and legislators.

  12. 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

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

    NARCIS (Netherlands)

    Gelderblom, O.C.; Jonker, J.P.B.

    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 c

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

    Directory of Open Access Journals (Sweden)

    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.

  15. Public Private Partnerships Applicability to Defence Procurement

    Science.gov (United States)

    2001-09-01

    Public Private Partnerships Applicability to Defence Procurement Jonathan Barnes KPMG Corporate Finance Report Documentation Page Report Date...25SEP2001 Report Type N/A Dates Covered (from... to) 25SEP2001 - 27SEP2001 Title and Subtitle Public Private Partnerships Applicability to Defence...unclassified Classification of Abstract unclassified Limitation of Abstract UU Number of Pages 6 kpmg Aim Provide an appreciation of: n Public Private Partnerships

  16. Finance

    OpenAIRE

    Spremann, Klaus

    2007-01-01

    Bisher veröffentlicht unter dem Titel: "Modern Finance" Das Buch beinhaltet ebenso einige Portraits: Die didaktische Erfahrung lehrt, dass man sich wissenschaftliche Ergebnisse und Ansätze besser merken kann, wenn eine Assoziation zu jener Person bildlich konkret wird, der wir den betreffenden Denkansatz verdanken. Aus Fragen der Finanzierung und der Investitionsentscheidungen von Unternehmen ist in der Verschmelzung mit der Analyse von Kapitalmärkten ein grosses Gebiet entstanden, da...

  17. Private finance for adaptation: do private realities meet public ambitions?

    NARCIS (Netherlands)

    Pauw, W.P.; Klein, R.J.T.; Vellinga, P.; Biermann, F.

    2016-01-01

    The private sector’s role in climate finance is increasingly subject to political and scientific debate. Yet there is poor empirical evidence of private engagement in adaptation and its potential contribution to the industrialised countries’ mobilisation of USD 100 billion of annual climate finance

  18. Risk sharing, public policy and the contribution of Islamic finance

    Directory of Open Access Journals (Sweden)

    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.

  19. Finance

    OpenAIRE

    2013-01-01

    Régulièrement au cœur de l'actualité, les trois agences de notation (Standard & Poor's, Moody's et Fitch) règnent sur le monde de la finance internationale. Mais quelles sont-elles et à qui appartiennent-elles véritablement ? Détenues par de puissants fonds d'investissements, elles ont progressivement renforcé leurs rôles et pouvoirs. L'auteur interpelle le citoyen sur un système dans lequel les fonds d'investissements profitent des agences de notation (et de leur rôle de « gardien des marché...

  20. Finance

    OpenAIRE

    2008-01-01

    Les investisseurs financiers et a fortiori les hedge fonds sont accusés de tous les maux. Ces « sauterelles » tomberaient sur les entreprises allemandes pour s’enrichir en les dépeçant. Un journaliste économique du quotidien des affaires Frankfurter Allgemeine Zeitung publie là un portrait objectif et factuel de ces « nouvelles stars » de la finance mondiale. Un portrait de branche, doublé d’une analyse de l’impact sur le « capitalisme rhénan » de la montée en puissance de ces nouveaux acteur...

  1. 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

  2. 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...

  3. 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.

  4. Enhacement of the role of public regulation in financing of innovative activity of the region

    Directory of Open Access Journals (Sweden)

    H.V. Zhavoronkova

    2016-09-01

    Full Text Available The aim of the article. The purpose of the article is to suggest the mechanism which will define the priorities in financing the innovative activity and distributing the assets attracted by the regional authorities among submitted projects. The results of the analysis. The results of the research show that the main factors which hinder the innovative activity of businesses in Ukraine are limitation in financial resources, defects of lawmaking, the necessity of strict expenditure optimization and economic factors such as risks and a long payback period. The main task of the innovative management on a regional level is to choose and apply the most optimal management mechanisms of innovative processes for certain economic conditions and to further ensure the rational use of the resources available in the region. To focus the means of encouragement for the businesses in the region to improve their innovative activity, the authors suggest the financing mechanism of the innovative activity of the regional businesses which consists in attracting public / utility company «Agency of the regional council development» (created in 2014 and conferring such additional powers: to ensure complete and timely asset incoming in compliance with the determined priority of innovative activity trends; to carry out credit operations, the right to be a guarantor and to allocate assets on deposits in bank institutions. The scheme of financing mechanism of the innovative activity by the Agency of the regional development was worked out. The algorithm of the choice of innovative projects for civil financing at the expense of the accumulated assets which determines the indicator of priority financing according to a parameter that identifies the hierarchy of scientific-technological priorities was grounded; the latter will be used on a branch and regional level and real branch potential of the economic activity is taken into account; the algorithm is adjusted to the degree

  5. Financing reforms of public health services in China: lessons for other nations.

    Science.gov (United States)

    Liu, Xingzhu; Mills, Anne

    2002-06-01

    Financing reforms of China's public health services are characterised by a reduction in government budgetary support and the introduction of charges. These reforms have changed the financing structure of public health institutions. Before the financing reforms, in 1980, government budgetary support covered the full costs of public health institutions, while after the reforms by the middle of the 1990s, the government's contribution to the institutions' revenue had fallen to 30-50%, barely covering the salaries of health workers, and the share of revenue generated from charges had increased to 50-70%. These market-oriented financing reforms improved the productivity of public health institutions, but several unintended consequences became evident. The economic incentives that were built into the financing system led to over-provision of unnecessary services, and under-provision of socially desirable services. User fees reduced the take-up of preventive services with positive externalities. The lack of government funds resulted in under-provision of services with public goods' characteristics. The Chinese experience has generated important lessons for other nations. Firstly, a decline in the role of government in financing public health services is likely to result in decreased overall efficiency of the health sector. Secondly, levying charges for public health services can reduce demand for these services and increase the risk of disease transmission. Thirdly, market-oriented financing reforms of public health services should not be considered as a policy option. Once this step is made, the unintended consequences may outweigh the intended ones. Chinese experience strongly suggests that the government should take a very active role in financing public health services.

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

    Energy Technology Data Exchange (ETDEWEB)

    Irrek, Wolfgang; Thomas, Stefan [Wuppertal Inst. for Climate, Environment, Energy (Germany); Attali, Sophie [International Consulting on Energy, L' Ile Saint-Denis (France); Benke, Georg [The Austrian Energy Agency, Vienna (Austria); Borg, Nils [Borg, Co AB, Stockholm (Sweden); Figorski, Arkadiusz; Filipowicz, Mariusz [Akademia Gorniczo-Hutnicza, Cracow (Poland); Labanca, Nicola; Pindar, Andrew [Politecnico di Milano (Italy); Ochoa, Amalia [ICLEI Europe, Freiburg (Germany)

    2005-07-01

    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.

  7. The Size, Financing and Impact of the Public Sector Deficit, 1975-198

    OpenAIRE

    1988-01-01

    The manner by which the government has chosen to finance the fiscal deficit in the given period and the economic consequences of financing of government expenditures are discussed in this paper. It documents the size of the government deficit from 1975-1984 through the presentation of a consistent series of consolidated public sector. It also analyzes the implications of the fiscal deficit on public debt, interest rate, capital formation, money creation and inflation.

  8. 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…

  9. Financing renewable energy for Village Power application

    Energy Technology Data Exchange (ETDEWEB)

    Santibanez-Yeneza, G.

    1997-12-01

    When one talks of rural development, no doubt, the issue of rural energy is not far behind. As a significant component of any development strategy, rural energy is seen as the engine for growth that can bring about economic upliftment in the countryside. Many approaches to rural energy development have been tried. These approaches differ from country to country. But regardless of structure and approach, the goal remain essentially the same: to provide rural communities access to reliable energy services at affordable prices. In recent years, as global concern for the environment has increased, many governments have turned to renewable energy as a more environment friendly alternative to rural electrification. Technological advances in renewable energy application has helped to encourage this use. System reliability has improved, development costs have, to some extent been brought down and varied application approaches have been tried and tested in many areas. Indeed, there is huge potential for the development of renewable energy in the rural areas of most developing countries. At the rural level, renewable energy resources are almost always abundantly available: woodwaste, agricultural residues, animal waste, small-scale hydro, wind, solar and even sometimes geothermal resources. Since smaller scale systems are usually expected in these areas, renewable energy technologies can very well serve as decentralized energy systems for rural application. And not only for rural applications, new expansion planning paradigms have likewise led to the emergence of decentralized energy systems not only as supply options but also as corrective measures for maintaining end of line voltage levels. On the other hand, where renewable energy resource can provide significant blocks of power, they can be relied upon to provide indigenous power to the grids.

  10. 公立医院信托融资问题分析与探讨%Analysis and discussion on trust financing in public hospitals

    Institute of Scientific and Technical Information of China (English)

    李志光; 王虹

    2014-01-01

    目前以公立医院为主体的融资活动,还没有真正地以市场为主导,理性地根据资本成本、风险和收益选择融资方式。通过讨论公立医院融资的政策背景和融资现状,比较分析公立医院主要融资方式及特点,对公立医院开展信托融资的优势进行分析,并探讨公立医院开展信托融资存在的主要问题和应用前景。%The current public hospital financing does not really a market oriented financing which rationally selects financing mode according to capital cost, risk and benefit. based on discussing the background of public hospitals financing policy and financing status, a comparative analysis on main financing ways and characteristics in public hospitals and the advantage, main problems and application prospect to carry out the trust financing for public hospitals have been carried out.

  11. 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.

  12. Finances of Public School Systems in 1982-83. Government Finances.

    Science.gov (United States)

    Bureau of the Census (DOC), Suitland, MD.

    This report provides statistics for the 1982-83 fiscal year on the revenues, expenditures, debt, and financial assets of public school systems, including public higher education, in the the United States. The information, collected by the U.S. Census Bureau, is presented for the nation as a whole, for the states, and for individual school systems…

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

    Directory of Open Access Journals (Sweden)

    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

  14. The fantasy world of private finance for transport via public private partnerships

    OpenAIRE

    Shaoul, Jean; Stafford, Anne; Stapleton, Pam

    2012-01-01

    In 1993, the British government turned to the private sector to finance much needed investment in public infrastructure and manage services under its Public Private Partnerships (PPP) policy (Edwards et al., 2004), with transport forming by far the largest component by value of the PPP programme. (...)

  15. The fantasy world of private finance for transport via public private partnerships

    OpenAIRE

    Shaoul, Jean; Stafford, Anne; Stapleton, Pam

    2012-01-01

    In 1993, the British government turned to the private sector to finance much needed investment in public infrastructure and manage services under its Public Private Partnerships (PPP) policy (Edwards et al., 2004), with transport forming by far the largest component by value of the PPP programme. (...)

  16. 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.

  17. The Geographic Distribution of Schooling Benefits: Implications for Public School Finance

    Science.gov (United States)

    Tweeten, Luther G.

    1973-01-01

    Local, State, and federal revenues for public schools have become weighted toward nonlocal revenue sources. In an effort to discover how much of the cost of public schooling should be financed at each level and what the appropriate decision criteria should be, a school funding model was developed in which revenue sources were aligned with expected…

  18. 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.…

  19. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  1. A Comparison of Occupational Groups with Regard to Knowledge of Public School Finance in the Upper Cumberland Region of Tennessee.

    Science.gov (United States)

    Reddick, Thomas L.; Fletcher, Richard K., Jr.

    This study attempted to determine the knowledge of Tennessee public school finance on the part of teachers, businessmen, school administrators, elected officials, and industrial workers. Students in a class on public school finance administered the questionnaire to over 1,000 subjects. Results revealed that respondents feel that public education…

  2. 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...

  3. Anatomy of public-private partnerships : Creation, financing, and renegotiations

    NARCIS (Netherlands)

    Miranda Sarmento, J.J.; Renneboog, Luc

    2016-01-01

    This paper presents the main reasons why public-private partnerships (PPPs) are adopted as well as the possible disadvantages for the public and private sectors. By means of two case studies on bridge construction and railway infrastructure (Fertagus and Lusoponte), we elucidate how a PPP is structu

  4. Anatomy of public-private partnerships : Creation, financing, and renegotiations

    NARCIS (Netherlands)

    Miranda Sarmento, J.J.; Renneboog, Luc

    2016-01-01

    This paper presents the main reasons why public-private partnerships (PPPs) are adopted as well as the possible disadvantages for the public and private sectors. By means of two case studies on bridge construction and railway infrastructure (Fertagus and Lusoponte), we elucidate how a PPP is

  5. Anatomy of public-private partnerships : Creation, financing, and renegotiations

    NARCIS (Netherlands)

    Miranda Sarmento, J.J.; Renneboog, Luc

    2016-01-01

    This paper presents the main reasons why public-private partnerships (PPPs) are adopted as well as the possible disadvantages for the public and private sectors. By means of two case studies on bridge construction and railway infrastructure (Fertagus and Lusoponte), we elucidate how a PPP is structu

  6. 75 FR 71744 - Fifth Street Finance Corp., et al.; Notice of Application

    Science.gov (United States)

    2010-11-24

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

  7. Innovations in the financing of geothermal energy for direct-use applications

    Energy Technology Data Exchange (ETDEWEB)

    Kwass, P.

    1981-10-01

    The applications of direct use geothermal energy, its advantages, and its relative costs are examined. The following are discussed: capital needs for direct-use geothermal development, sources of geothermal financing, barriers to geothermal financing, and selected case studies of curent financing alternatives.

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

    Directory of Open Access Journals (Sweden)

    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.

  9. Development of Public School Finance in New York State. Occasional Paper #14.

    Science.gov (United States)

    Burke, Arvid J.

    Since the establishment of school districts in 1812, a number of inequalities in public school finance have emerged in New York State. These inequalities result from decentralization within the system as a whole, and large-scale centralization of New York City schools. In a decentralized system, where districts have taxing power, rich districts…

  10. 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…

  11. Modeling health and mortality dynamics, and their effects on public finance

    NARCIS (Netherlands)

    Yang, Y.

    2014-01-01

    The primary motivation of this dissertation is to provide insights into the future developments of mortality and population health, and the associated effects on public finance in the United States. The U.S. has experienced increases in life expectancy and the accompanying population ageing over the

  12. Local Control, Democracy, and the Separation in the Public Opinion of School Finance Reform

    Science.gov (United States)

    Shelly, Bryan

    2007-01-01

    What role does a person's support for local educational control play in determining her attitude towards equity-minded school finance reform? This article reports estimations of binary and ordered probit models of two state public opinion polls and discusses newspaper coverage from the same two states to determine if and how local control has such…

  13. School Finance 2005?06. Budget Sets Off Public Battle

    Science.gov (United States)

    Perry, Mary

    2005-01-01

    For the past year, the issue of public education funding has been particularly contentious in California. A pitched political battle between education advocates and the administration of Gov. Arnold Schwarzenegger began with a December 2004 preview of the governor's budget proposal for 2005?06. The fight continued through a spring filled with…

  14. Public Financing of Religious Schools: Justice Clarence Thomas's "Bigotry Thesis"

    Science.gov (United States)

    Alexander, Kern

    2008-01-01

    United States Supreme Court Justice Clarence Thomas, writing for a plurality of the Court in "Mitchell v. Helms" in 2000, advanced the idea that state constitutional prohibitions against public funding of religious schools were manifestations of anti-Catholic bigotry in the late 19th century. Thomas's reading of history and law led him to believe…

  15. 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.

  16. A Comparative Analysis of the Greek and Romanian Public Finances: 2000-2008

    OpenAIRE

    2010-01-01

    In this paper we analyze the situation of the Public Finances for Greece and Romania for the 2000-2008 period, attempting to identify the fundamental factors that lead to the poor situation of the two countries in the current period. Currently, Greece and Romania are facing difficult financial situations, confronted with record levels of public debt and deficits, being forced to close urgent financial agreements with the European Commission and IMF to avoid financial collapse. In the study we...

  17. Public Finance and Individual Preferences over Globalization Strategies

    OpenAIRE

    Hanson, Gordon H.; Kenneth F. Scheve; Matthew Slaughter

    2005-01-01

    In the absence of distortionary tax and spending policies, freer immigration and trade for a country would often be supported by similar groups thanks to similar impacts on labor income. But government policies that redistribute income may alter the distributional politics. In particular, immigrants may pay taxes and receive public services. Imports, obviously, can do neither of these. This suggests quite different political coalitions may organize around trade and immigration. In this paper ...

  18. 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...... during the crisis period. Therefore, market signals should be used to complement fiscal rules rather than serving as a substitute....

  19. 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...

  20. 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...

  1. 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...

  2. Analysis of Developing Public Health Service Sector with Private Finance Initiative in Guangxi

    Institute of Scientific and Technical Information of China (English)

    王宇

    2006-01-01

    In Guangxi Public Health Service Sector (GPHSS), because lack of budget, it has caused a number of problems, such as weakened public health service in rural areas, poor professional quality of medical personnel in public health units at village and township levels, current urban public health service could not meet the health demand for urban residents. This paper is a secondary research. Through analysis of the financial problem and both of the advantages and disadvantages of using the Private Finance Initiative (PFI), it intend to demonstrate that using the PFI could be considered as a good way for the Guangxi government.

  3. Public finance management in the context of sustainable development

    Directory of Open Access Journals (Sweden)

    Tropina Valentyna Borysivna

    2016-09-01

    Full Text Available The article reviews specific features of the financial policy of sustainable development, especially its development and implementation. The priority areas of financial policy of Ukraine in the context of the goals and targets of the 2030 Agenda for sustainable development are identified. The attention on the importance of internal resources in the structure of sources of financial support the goals and objectives of sustainable development is accented. The directions of the mobilization and efficient use of public financial resources as a necessary condition for socio-economic development of Ukraine on the principles of sustainable development are suggested.

  4. 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.

  5. TAX & PUBLIC FINANCE: ETHIOPIAN SYSTEM FOR PROMOTIONAL ACTIVITIES

    Directory of Open Access Journals (Sweden)

    M. Moses Antony RAJENDRAN

    2016-06-01

    Full Text Available Tax is very important for each and every Government. As we are all know that taxation can be classified into direct and indirect taxes. Every Government need revenue to lead the economic, infrastructure, medical, transport, education, telecom, electricity, staff, research, to concession, subsidies, free facility for the unable sector community in the country. To generate the income Government has a constitution as a law to charge a tax for different sectors of people which brought into different categories of the people. No Tax, No Income; No Income, No Revenue; No Revenue, No Government. Government is a public which is common to the all of the people in the country. Whether the direct or indirect tax, the tax must be charged on the basis of the effort of the people income. Some people earn money with their hard work. Some people earn money easily. The easily earned income must be taxed more than the hard earned money. Ethiopian Taxation system is very important for raising income of the Government.

  6. TAX & PUBLIC FINANCE : ETHIOPIAN SYSTEM FOR PROMOTIONAL ACTIVITIES

    Directory of Open Access Journals (Sweden)

    Moses Antony RAJENDRAN

    2016-08-01

    Full Text Available Tax is very important for each and every Government.  As we are all know that taxation can be classified into direct and indirect taxes. Every Government need revenue to lead the economic, infrastructure, medical, transport, education, telecom, electricity, staff, research, to  concession, subsidies, free facility for the unable sector community in the country.  To generate the income Government has a constitution as a law to charge a tax for different sectors of people which brought into different categories of the people.  No Tax,  No Income; No Income, No Revenue; No Revenue, No Government.  Government is a public which is common to the all of the people in the country. Whether the direct or indirect tax, the tax must be charged on the basis of the effort of the people income.  Some  people earn money with their hard work.  Some people earn money easily.  The easily earned income must be taxed more than the hard earned money.  Ethiopian Taxation system is very important for raising income of the Government.

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

    Directory of Open Access Journals (Sweden)

    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.

  8. Best in class: Public finances in Sweden during the financial crisis

    Directory of Open Access Journals (Sweden)

    Bergman Michael

    2011-01-01

    Full Text Available This paper studies why public finances in Sweden have remained very strong during the current financial crisis. Unlike almost all other European countries, Sweden has had budget surpluses and a government debt ratio around 40 percent of GDP during the recent crisis. We attribute this to two important factors. First, Sweden entered the crisis with strong public finances and second that unemployment did not rise as much as normally during recessions. The Swedish fiscal framework that was introduced after the banking crisis in the early 1990s with expenditure ceilings, a top-down budget process, balanced budget requirement for local governments has played an important role. We show that the behavior of budget deficits has changed significantly recently, from a deficit bias to a surplus bias. Aggregate demand remained strong during the crisis even though exports fell sharply. As unemployment in the manufacturing sector increased, it was to a large extent offset by increased employment in the service sector.

  9. Public-private Partnerships in Micro-finance: Should NGO Involvement be Restricted?

    OpenAIRE

    Roy Chowdhury, Prabal; Roy, Jaideep

    2007-01-01

    This paper examines public-private partnerships in micro-finance, whereby NGOs can help in channelizing credit to the poor, both in borrower selection, as well as in project implementation. We argue that a distortion may arise out of the fact that the private partner, i.e. the NGO, is a motivated agent. We find that whenever the project is neither too productive, nor too unproductive, reducing such distortion requires unbundling borrower selection and project implementati...

  10. Public-private Partnerships in Micro-finance: Should NGO Involvement be Restricted?

    OpenAIRE

    Roy Chowdhury, Prabal; Roy, Jaideep

    2007-01-01

    This paper examines public-private partnerships in micro-finance, whereby NGOs can help in channelizing credit to the poor, both in borrower selection, as well as in project implementation. We argue that a distortion may arise out of the fact that the private partner, i.e. the NGO, is a motivated agent. We find that whenever the project is neither too productive, nor too unproductive, reducing such distortion requires unbundling borrower selection and project implementati...

  11. 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....

  12. 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.

  13. 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 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....

  14. Scientific Production in Finance: mapping of publications in journals Qualis A in Brazil

    Directory of Open Access Journals (Sweden)

    Luiz Henrique Herling

    2015-04-01

    Full Text Available The current field of financial management is directly linked to the science of Directors also inheriting traits of his crib before then, the economic sciences. There are many published studies in finance over the years, but the very definition of what financial management is studying is not something simple disclosure. About seventy years ago, researchers in the field have questioned and tried to make an approximation of what this field of operation aim to treat. Through a descriptive study as quantitative treatment of the data using descriptive statistics, we sought to understand how the publications are in the area of financial management in high-impact journals classified according to the last published qualis Capes in 2012. Through research showed that between 2010 until 2012 there is a greater concentration of research in Finance Short Term Finance Long Term Markets and Financial Institutions subareas, researchers with higher productivity are of Mackenzie University and Getulio Vargas Foundation (EAESP/FGV, and that RAUSP SAR and magazines have the largest amount of published articles on finance.

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

    Directory of Open Access Journals (Sweden)

    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.

  16. 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

  17. 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. 

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

    Science.gov (United States)

    Torój, Andrzej; Mela, Aneta

    2017-08-31

    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.

  19. Financing and planning of public and private not-for-profit hospitals in the European Union.

    Science.gov (United States)

    Thompson, Ceri R; McKee, Martin

    2004-03-01

    While much has been written about health care financing in Europe in recent years, discussion has almost entirely focused on revenue. In contrast, there has been remarkably little written on financing of capital investment in European health care systems. Yet major changes are underway in several countries, in particular involving new forms of public-private partnerships (PPP). At the same time, there is growing recognition of the way in which the inherited structure of the health care delivery system constrains the system's ability to adapt to changing circumstances. This paper reports the results of a survey undertaken among key informants in the member states of the European Union to begin to ascertain existing practices and future plans in relation to hospital planning and financing amongst public and private not-for-profit hospitals. The locus of hospital planning decisions reflect the constitutional framework of the country involved, and thus the emphasis on national or local plans. There has been an expansion of private sector involvement, with four basic models identified: private loans direct to the hospital; private loans to a regional health body; a PPP where the private sector's role is to build, design and operate the non-clinical functions of the hospital; and, finally, a PPP, where the private sector's involvement also includes management of the clinical functions of the hospital. It is too early to say whether these approaches will be more successful than the models they are replacing.

  20. 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 financed with Federal or public funds. 413.149 Section 413.149 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES MEDICARE PROGRAM PRINCIPLES OF REASONABLE...

  1. 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

  2. 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.

  3. Speculating on health: public health meets finance in 'health impact bonds'.

    Science.gov (United States)

    Rowe, Rachel; Stephenson, Niamh

    2016-11-01

    Where modern public health developed techniques to calculate probability, potentiality, risk and uncertainty, contemporary finance introduces instruments that redeploy these. This article traces possibilities for interrogating the connection between health and financialisation as it is arising in one particular example - the health impact bond. It locates the development of this very recent financial innovation in an account of public health's role within governance strategies over the 20th century to the present. We examine how social impact bonds for chronic disease prevention programmes bring two previously distinct ways of thinking about and addressing risk into the same domain. Exploring the derivative-type properties of health impact bonds elucidates the financial processes of exchange, hedging, bundling and leveraging. As tools for speculation, the functions of health impact bonds can be delinked from any particular outcome for participants in health interventions. How public health techniques for knowing and acting on risks to population health will contest, rework or be subsumed within finance's speculative response to risk, is to be seen. © 2016 Foundation for the Sociology of Health & Illness.

  4. 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.

  5. Savings, lending rate and skill improvement in micro-finance operating through public-private cooperation

    OpenAIRE

    2011-01-01

    In this paper, micro-finance programme through joint liability credit contract is explained with the help of two-stage game when the programme is operated by a non-motivated NGO with the help of commercial bank and government. We find that even in the presence of public-private cooperation and back ended subsidy provided by the government, both individual sanction as well as social sanction plays an important role of security against credit for proper functioning of the programme. Non-homogen...

  6. 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.

  7. Sparse Grid Quadrature in High Dimensions with Applications in Finance and Insurance

    CERN Document Server

    Holtz, Markus

    2011-01-01

    This book deals with the numerical analysis and efficient numerical treatment of high-dimensional integrals using sparse grids and other dimension-wise integration techniques with applications to finance and insurance. The book focuses on providing insights into the interplay between coordinate transformations, effective dimensions and the convergence behaviour of sparse grid methods. The techniques, derivations and algorithms are illustrated by many examples, figures and code segments. Numerical experiments with applications from finance and insurance show that the approaches presented in thi

  8. 75 FR 65197 - Use of Public Housing Capital Funds for Financing Activities

    Science.gov (United States)

    2010-10-21

    .... 905.705(c)(5) (final Sec. 905.505(c)(4)) has been modified for CFFP use with a mixed-finance project...-finance projects. PHAs that pursue mixed- finance projects have both HUD and investor reporting... preamble. However, for non-mixed-finance projects, quarterly reporting is still necessary. Unlike Capital...

  9. Applications of the Likelihood Theory in Finance: Modelling and Pricing

    CERN Document Server

    Janssen, Arnold

    2012-01-01

    This paper discusses the connection between mathematical finance and statistical modelling which turns out to be more than a formal mathematical correspondence. We like to figure out how common results and notions in statistics and their meaning can be translated to the world of mathematical finance and vice versa. A lot of similarities can be expressed in terms of LeCam's theory for statistical experiments which is the theory of the behaviour of likelihood processes. For positive prices the arbitrage free financial assets fit into filtered experiments. It is shown that they are given by filtered likelihood ratio processes. From the statistical point of view, martingale measures, completeness and pricing formulas are revisited. The pricing formulas for various options are connected with the power functions of tests. For instance the Black-Scholes price of a European option has an interpretation as Bayes risk of a Neyman Pearson test. Under contiguity the convergence of financial experiments and option prices ...

  10. 7 CFR 1901.205 - Nondiscrimination in construction financed with FmHA or its successor agency under Public Law 103...

    Science.gov (United States)

    2010-01-01

    ... or its successor agency under Public Law 103-354 loan or grant. 1901.205 Section 1901.205 Agriculture... construction financed with FmHA or its successor agency under Public Law 103-354 loan or grant. Executive Order... national origin on construction work financed by FmHA or its successor agency under Public Law...

  11. 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.

  12. Differences in health between Americans and Western Europeans: Effects on longevity and public finance.

    Science.gov (United States)

    Michaud, Pierre-Carl; Goldman, Dana; Lakdawalla, Darius; Gailey, Adam; Zheng, Yuhui

    2011-07-01

    In 1975, 50-year-old Americans could expect to live slightly longer than most of their Western European counterparts. By 2005, American life expectancy had fallen behind that of most Western European countries. We find that this growing longevity gap is primarily due to real declines in the health of near-elderly Americans, relative to their Western European peers. We use a microsimulation approach to project what US longevity would look like, if US health trends approximated those in Western Europe. The model implies that differences in health can explain most of the growing gap in remaining life expectancy. In addition, we quantify the public finance consequences of this deterioration in health. The model predicts that gradually moving American cohorts to the health status enjoyed by Western Europeans could save up to $1.1 trillion in discounted total health expenditures from 2004 to 2050.

  13. 75 FR 70940 - Notice of Proposed Information Collection for Public Comment: 2011 Rental Housing Finance Survey

    Science.gov (United States)

    2010-11-19

    ... Finance Survey AGENCY: Office of the Assistant Secretary for Policy Development and Research, HUD. ACTION... Rental Housing Finance Survey. OMB Control Number: 0000-0000. Description of the need for the information and proposed use: The Rental Housing Finance Survey (RHFS) provides a measure of financial,...

  14. 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.

  15. Forensic services, public mental health policy, and financing: charting the course ahead.

    Science.gov (United States)

    Pinals, Debra A

    2014-01-01

    High-quality forensic evaluations can be critical for criminal cases brought before the court. In addition, forensic practitioners and mental health and forensic administrators have increasingly taken a broader view of the revolving door between the mental health and criminal justice systems. More attention is now paid to why individuals with mental disorders, including co-occurring substance use, come into the criminal justice system and the challenges that they face on re-entry into the community. In particular, individuals who receive care across civil, forensic, and correctional systems are at especially increased risk of disrupted health care access and coverage. With health care reform on the horizon, it is important to understand public financing and its impact on forensic services for this crossover population. This article is a review of historical and future trends in public mental health funding focused on Medicaid and other federal resources, the movement toward community-based services, and the impact of these areas on forensic practice and forensic systems. Tensions between recovery principles and legal mandates are also addressed as community services are emphasized, even in forensic contexts. This article calls forensic practitioners to action and offers suggested areas of focus for training to increase knowledge of public mental health funding, policy, and practice from a forensic perspective.

  16. The Comparative Study on Public Housing Finance and Commercial Housing Finance%关于公共住宅金融与商业住宅金融的比较

    Institute of Scientific and Technical Information of China (English)

    顾书桂

    2012-01-01

    Both public housing finance and commercial housing finance are value movement which they act and influence each other to meet the housing demand from the public together. On the other hand, public housing finance and Commercial housing finance differs in economic foundation, market risk, behavior characteristic and economic status. The differences between public housing finance and commercial housing finance require us to coordinate the relation to supplement, support and advance each other. Entertainments should be careful of public policy risk which participates in public housing finance.%公共住宅金融与商业住宅金融都是价值运动,它们既相互作用又相互影响,共同满足社会公众对居住的需求。另一方面,公共住宅金融与商业住宅金融又在经济基础、市场风险、行为属性和经济地位方面存在差异。公共住宅金融与商业住宅金融的差异需要我们协调好两者的关系,取长补短,相互支持,相互促进。企业参与公共住宅金融,要注意公共政策风险。

  17. 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

  18. 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

  19. Basic Issues in the Governmental Financing of Public Library Services. Commissioned Paper Project, Teachers College, No. 1.

    Science.gov (United States)

    Lane, Rodney P.

    The present public library financing system is described and assessed, and the key issues for consideration in either reaffirming its continued use or in the development of new approaches are delineated. Special emphasis is given to illuminating those issues and factors affecting metropolitan areas--both core city and suburban fringes. The…

  20. 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 definin

  1. Managing Projects with the Public, -bringing Partnering, Contracts and Financing together in Building Public Services

    DEFF Research Database (Denmark)

    Koch, Christian

    2004-01-01

    of projects have had trouble to develop. The paper views PPP as an interaction between an emergent governance frame and operational activities in the project. PPP is an element of a networked public sector and the paper takes a network and political process approach to the shaping of PPP in Denmark....... It is analysed how the governance frame for these type of projects constituted a window of opportunity in the late nineties for “sale and lease back” arrangements, combined with partnering and more traditional design-build contracts. A case of a municipality renewing its school services, exploiting this window...... of opportunity shows that on the operational level the contractual, financial and skill basis for the project has to be mobilized, negotiated, partly stabilized and renegotiated. The participating actors thus have to develop a new set of skills in dealing with municipalities and managing operations in PPPs....

  2. Using Lotteries to Finance Public Goods%用彩票为公共品融资

    Institute of Scientific and Technical Information of China (English)

    侯向群; 刘杰

    2012-01-01

    For the free-ride problem in voluntary contribution mechanism (VCM) of public goods and inefficiency that govemment provides public goods, we need to seek new financing mechanism to manage public goods. The relevance literature based on microcosmic behavior of individual indicates lotteries as one kind of financing can solve the two problems mentioned above. But some other conclusions from these analyses can not be explained fully by the theory existing, such as poor people buying the lottery, underground lottery and the problem of lottery and equality. This paper based on a basic model introduces the current situation and the problems facing lottery research.%一方面私人总是因为可以搭便车而缺乏提供公共品的激励,另一方面社会中又总是存在由私人提供公共品的现象。这两种现象的并存表明有一种既能消除私人自愿供给的“搭便车”问题,也能实现社会最优水平公共品供给机制的可能。近年来国外相关研究表明:彩票作为一种融资工具能较好地解决上述两大问题。但各国的实践证明了这一点的同时,也存在目前理论无法解释的问题,如穷人博彩,地下彩票,彩票与平等问题。本文围绕彩票作为公共品融资工具这一中心,系统地介绍了国内外已有文献关于彩票研究的现状及其问题,以便为我国寻求新的公共品融资机制提供理论参考。

  3. 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.

  4. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

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

    DEFF Research Database (Denmark)

    Martin, Lawrence; Lawther, Wendell; Hodge, Graeme

    2013-01-01

    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...... internationally recommended best practices in transportation financing P3s. Based upon the study findings, a checklist in then proposed that can be used by U.S. state and local governments to assess their current or proposed transportation financing P3 policies and procedures. The article makes a contribution...

  7. 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.

  8. 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.

  9. Health planners and local public finance--the case for revenue sharing.

    Science.gov (United States)

    Rocheleau, B; Warren, S

    1980-01-01

    Little attention has been paid by health planners or researchers to questions of local public finance. However, a review of the literature concerning general revenue sharing (GRS) funds indicated that about $400 million per year from this source is spent on health services and resources. GRS funds, about $6.4 billion per year, are distributed to more than 39,000 State, county, and city governments. The 1976 amendments to the General Revenue Sharing Act eliminated restrictions on the use of the funds, and they can be employed as matching funds for other Federal monies. An exploratory study of the use of GRS funds for health purposes was conducted in several localities, with particular attention to the health systems agencies. Its results confirmed that there are wide variations among localities in the use of revenue-sharing funds to support health services. Also, not only did the health systems agencies' officials have little impact on the allocation of revenue sharing funds, but only in one locale had an HSA official taken a direct role in the budgetary process. Health planners, who were interviewed during the study, described what they considered their agencies' proper role in local budgetary matters.

  10. 财政学课程教学方法探讨%On Teaching Methods of Public Finance Course

    Institute of Scientific and Technical Information of China (English)

    刘晔

    2011-01-01

    The choice and application of teaching methods of " public finance" course depend on three factors, name- ly, the people - oriented teaching concept, the teaching goal of applied economics, and the unique subject characteris- tics of Public finance. Correspondingly, the teachers should use various teaching methods, such as: system comparison, case teaching, combination of qualitative and quantitative analysis, and other student - oriented teaching methods etc. At the same time, to promote the application of these teaching methods requires further support S with regard to the condition of domestic universities.%以人为本的一般教学理念、应用经济学科自身的教学目标、财政学科独有的学科特性构成了《财政学》教学方法选择运用的主要依据。由此具体要求在财政学教学中选择并组合运用制度比较的教学法、理论结合现实的案例教学法、定性与定量分析相结合的教学法、以学生为主体的多样化教学法等各种具体的教学方法。同时,为了增强各种财政学教学方法的实际应用效果,结合国内高校实际,需要进一步切实改进并完善财政学教学的各项支持条件。

  11. Optimal Adoption of Green Roofs: Hydrology and Public Finance Applications

    Science.gov (United States)

    2008-03-01

    green products increase worldwide on a daily basis and currently account for 9% of all new-product launches in the United States ( Marmor , 2007...Consumption Survey, Published 2003 by the Energy Information Administration under the United States Department of Energy Marmor , Jessica. 2007

  12. Performance audit as a tool oriented at the accountability of public finance spending in Poland against the background of UK practices 

    Directory of Open Access Journals (Sweden)

    Anna Bartoszewicz

    2015-11-01

    Full Text Available In recent years, public finance spending in Poland has been subject to citizens’ critical assessment. It forces public finance sector units to introduce tools that will enable the effectiveness of actions within this area to be scrutinized. The performance audit, a new idea of auditing oriented at performance, provides such a tool. At the same time, a chance to introduce accountability to Polish public finance sector entities appeared. The aim of the article is to determine the role and usefulness of performance audits for the effective management of public finances by public finance sector units in Poland with reference to British practice in this area. In the article, the author attempted to answer the question about what the perspective of performance audit development is in Poland in the next couple of years. To achieve the goal, the author used an analysis of the Polish and foreign literature on the subject, an analysis of legal instruments of internal audit, the comparative analysis method, and benchmarking (modelled on the British practice, the author indicating the implications connected with implementing performance audits in public finance sector units in Poland as well as mentioning legal-economic loopholes that should be closed in order to raise the effectiveness of performance audit in public finance sector in Poland. The author’s conclusions are based on deduction. Considering the experience of Great Britain, one may think that the role of the performance audit in Poland will grow along with the development of managerial control within public institutions, causing the rationalization of public finance spending. The aspects that should be complemented in the scope of the performance audit include: cyclical, not short-term, control of the use of public finances by government institutions, and acknowledging this tool as an obligatory element of management.

  13. Performance audit as a tool oriented at the accountability of public finance spending in Poland against the background of UK practices

    Directory of Open Access Journals (Sweden)

    Anna Bartoszewicz

    2015-09-01

    Full Text Available In recent years, public finance spending in Poland has been subject to citizens’ critical assessment. It forces public finance sector units to introduce tools that will enable the effectiveness of actions within this area to be scrutinized. The performance audit, a new idea of auditing oriented at performance, providessuch a tool. At the same time, a chance to introduce accountability to Polish public finance sector entitiesappeared. The aim of the article is to determine the role and usefulness of performance audits for the effective management of public finances by public finance sector units in Poland with reference to British practice in this area. In the article, the author attempted to answer the question about what the perspective of performance audit development is in Poland in the next couple of years. To achieve the goal, the author used an analysis of the Polish and foreign literature on the subject, an analysis of legal instruments of internal audit, the comparative analysis method, and benchmarking (modelled on the British practice, the author indicating the implications connected with implementing performance audits in public finance sector units in Poland as well as mentioning legal-economic loopholes that should be closed in order to raise the effectiveness of performance audit in public finance sector in Poland. The author’s conclusions are based on deduction. Considering the experience of Great Britain, one may think that the role of the performance audit in Poland will grow along with the development of managerial control within public institutions, causing the rationalization of public finance spending. The aspects that should be complemented in the scope of the performance audit include: cyclical, not short-term, control of the use of public finances by government institutions, and acknowledging this tool as an obligatory element of management.

  14. THE IMPACT OF THE NATIONALIZATION OF THE PENSION FUND ASSETS EXPRESSED BY TREASURY BONDS ON PUBLIC FINANCE

    Directory of Open Access Journals (Sweden)

    Paweł Szczepanik

    2015-12-01

    Full Text Available The aim of the nationalization of the pension fund assets expressed by treasury bonds was accounting reducing of open level of public debts and thus avoid exceeding the second prudential threshold according to national methodology to GDP. It was the easiest solution, which had immediate short-term effect. Reasoning that was conducted by government side was as follows: without necessity to fund additional borrowing needs due to OFE relation between debt and GDP would be significantly lower. Limiting or complete elimination of OFE will have positive influence on public finance also in a long-term period. The aim of the article is to demonstrate that OFE is not responsible for our public finance. The main reason for the imbalance are exceptions to the rules of the pension reform of individual governing groups. Consequently, if nationalization doesn’t solve any of the problems of structural imbalances in the polish public finance thus doesn’t close the path to re-build-up of debt. Therefore, it is necessary as soon as possible to star structural reforms and this time implementing them consistently.

  15. An empirical analysis of the external finance premium of public non-financial corporations in Brazil

    Directory of Open Access Journals (Sweden)

    Fernando N. de Oliveira

    2012-09-01

    Full Text Available Our objective in this paper is to analyze empirically the relationship between the external finance premium of non-financial corporations in Brazil with their default probability and with their demand for inventories. As for the former relation, we find that corporations that have greater external finance premium have greater probability of default. As for the latter, we find that the external finance premium is positive and statistically significantly correlated. The results confirm previous results of the literature that indicate that the balance sheet channel of monetary policy is relevant in Brazil.

  16. Stochastic control of Itô-Lévy processes with applications to finance

    OpenAIRE

    Øksendal, Bernt; Sulem, Agnès

    2014-01-01

    We give a short introduction to the stochastic calculus for Itô-Lévy processes and review briefly the two main methods of optimal control of systems described by such processes: (i) Dynamic programming and the Hamilton-Jacobi-Bellman (HJB) equation (ii) The stochastic maximum principle and its associated backward stochastic differential equation (BSDE). The two methods are illustrated by application to the classical portfolio optimization problem in finance. A second application is t...

  17. 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...

  18. Public financing of research projects in Poland – its image and consequences?

    Directory of Open Access Journals (Sweden)

    Feldy Marzena

    2016-12-01

    Full Text Available Both the size of appropriation as well as their distribution have had a profound impact on the shape and activities of the science sector. The creation of a fair system of distribution of public resources to research that will also facilitate the effective implementation of the pursued scientific policy goals represents a major challenge. The issue of the determination of the right proportions of individual distribution channels remains critical. Despite this task being the responsibility of the State, establishing cooperation in this respect with the scientific community is desirable. The implementation of solutions that raise the concerns of scientists leads to system instability and reduced effectiveness which is manifest among others in a lower level of indicators of scientific excellence and innovation in the country. These observations are pertinent to Poland where the manner in which scientific institutes operate were changed under the 2009–2011 reform. A neoliberal operating model based on competitiveness and rewarding of top rated scientific establishments and scientists was implemented. In light of these facts, the initiation of research that will provide information on how the implemented changes are perceived by the scientific community seems to be appropriate. The aim of this article is in particlar presenting how the project model of financing laid down under the reform is perceived and what kind of image has been shaped among Polish scientists. In order to gain a comprehensive picture of the situation, both the rational and emotional image was subject to analysis. The conclusions regarding the perception of the project model were drawn on the basis of empirical materials collected in a qualitative study the specifics of which will be presented in the chapter on methodology. Prior to that, the author discusses the basic models for the distribution of state support for science and characterises the most salient features of the

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

    Directory of Open Access Journals (Sweden)

    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".

  20. 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.

  1. 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.

  2. 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.

  3. 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

  4. 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...

  5. 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...

  6. 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...

  7. International Trends in the Public and Private Financing of Higher Education

    Science.gov (United States)

    Sanyal, Bikas C.; Johnstone, D. Bruce

    2011-01-01

    Beginning by analyzing the major qualitative and quantitative changes in higher education around the world, this article examines international trends in their financial implications. It then demonstrates the state's inability to bear the entire rising financial burden, and explores the role of self-financing, and of the non-profit and for-profit…

  8. The long arm of finance: Exploring the unlikely financialization of governments and public institutions

    NARCIS (Netherlands)

    Hendrikse, R.P.

    2015-01-01

    It is often claimed that the power of finance is pervasive and omnipresent, yet the delicate ways in which financialization exerts its will across space remain relatively little explored. In fact, such claims obscure the fact that financial development constitutes a profoundly uneven process - both

  9. 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.

    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...

  10. Leaving Equity Behind? A Quantitative Analysis of Fiscal Equity in Nevada's Public Education Finance System

    Science.gov (United States)

    Verstegen, Deborah A.

    2013-01-01

    Over time, issues of justice and fairness in education finance have been addressed by the courts in all but five states. The key focus has been on illegitimate disparities in funding between rich and poor school districts caused by the happenstance of unequal local wealth. Recently, attention has turned to the relationship between funding gaps and…

  11. 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

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false FmHA or Its Successor Agency Under Public Law 103-354... or Its Successor Agency Under Public Law 103-354 Financed Contract To: Area Director, Office of..., from exhibit E, FmHA or its successor agency under Public Law 103-354 Instruction 1901-E) We submit...

  12. 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

  13. 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

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

    Science.gov (United States)

    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

  15. The Italian public finances in the period 1998-2007: temporary factors, medium-term trends and discretionary measures

    OpenAIRE

    Maria Rosaria Marino; Sandro Momigliano; Pietro Rizza

    2008-01-01

    The paper examines the development of Italy�s public finances after the consolidation period 1992-97, which secured participation in the European Monetary Union from the outset. The �structural� developments in the main budgetary components are assessed, excluding the effects of the economic cycle and of temporary measures. The analysis shows a rapid deterioration in the years 1998-2003, whose roots can be traced back to the consolidation of the early 1990s, achieved primarily by means ...

  16. 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

  17. Integration of Public Finance Administration into ISO 9001 Total Quality Management

    Directory of Open Access Journals (Sweden)

    Hakan KİTAPÇI

    2012-06-01

    Full Text Available In Chronology; although they show different progress from each others, today Total Quality Management (TQM and Internal Auditing are two management concepts that are in mutual interaction and provide help for development of each other. TQM is a human based management concept that aims to increase customer satisfaction and enhance quality with decreasing cost in organizations. Internal Auditing is an independent, objective assurance and consultancy action on organization’s efficiency, productivity and accordance with laws and regulations. In this study; interrelation of public financial administration and TQM, how they interact each other and their size are displayed with searching lots of related scientific resources and a sample from public is given about application. In this study internal auditing is accepted as a management philosophy which has an important in TQM, and also which Exhausted risk, IT systems, internal Auditing Process, relationship with environment, performance and quality. At the end of study we can easily say that the new financial system realizes the ISO 9001 standards a high degree.

  18. 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

  19. 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

  20. Municipal bond financing of solar energy facilities

    Energy Technology Data Exchange (ETDEWEB)

    White, S.S.

    1979-12-01

    The application of the laws of municipal bond financing to solar facilities is examined. The type of facilities under consideration are outlined. The general legal principles of municipal securities financing are discussed. The effect of recent decisions applying antitrust liability to municipal corporations is also discussed. Five specific types of municipal bonds are explained. The application of Section 103 of the Internal Revenue Code of 1954, as amended, to the issuance of municipal bonds for solar facility financing is examined also. Five bond laws of five representative states are examined and whether the eight types of solar facilities under consideration could be financed under such law is discussed. The application of the general legal principle is illustrated. Three hypothetical situations are set forth and common legal issues to be confronted by city officials in proposing such financing are discussed. These issues will be raised in most financings, but the purpose is to examine the common context in which they are raised. It is concluded that if it can be shown that the purpose of the solar facilities to be financed is to benefit the public, all legal obstacles to the use of municipal financing of solar facilities can be substantially overcome.

  1. Analysis of the Finance Management of Public Hospital under the Trusteeship Cooperation%公立医院托管合作模式下财务管理的实践

    Institute of Scientific and Technical Information of China (English)

    张秀珍

    2012-01-01

    基于公立医院托管合作模式下财务管理实践,分析集中型财务管理体制特点、会计人员的配备及职责、资金和账户管理,指出托管财产管理方法并评价集中型管理体制的利弊;此外,提出进一步加强财务管理几点建议,为公立医院托管合作发展提供财务理论与实务借鉴.%Under the trusteeship cooperation model, the public hospital may adopt centralization, decentralization or middle course as its finance management policy. The finance management system features of different polices is analyzed, the precondition of applications is explained, the individual accounting methods are described, the financial function is defined, the capital management is expatiated and the advantages and disadvantages of each model are summarized. Meanwhile, proposals on trusteeship property management policy and how to enhance finance management as well are proposed. Furthermore, theory guideline and praclical references for the finance management development of public hospital are offered under the trusteeship operation .

  2. The Illustrated Wavelet Transform Handbook: Introductory Theory and Applications in Science, Engineering, Medicine and Finance

    Energy Technology Data Exchange (ETDEWEB)

    Kingsbury, J Ng and N G [Department of Engineering, University of Cambridge, Trumpington Street, Cambridge CB2 1PZ (United Kingdom)

    2004-02-06

    . The treatment on finance touches on the use of wavelets by other authors in studying stock prices, commodity behaviour, market dynamics and foreign exchange rates. The treatment on geophysics covers what was omitted from the fourth chapter, namely, seismology, well logging, topographic feature analysis and the analysis of climatic data. The text concludes with an assortment of other application areas which could only be mentioned in passing. Unlike most other publications in the subject, this book does not treat wavelet transforms in a mathematically rigorous manner but rather aims to explain the mechanics of the wavelet transform in a way that is easy to understand. Consequently, it serves as an excellent overview of the subject rather than as a reference text. (book review)[abstract truncated

  3. Metropolitan Corporate Academy: An Alternative High School for Business/Finance and Public Services.

    Science.gov (United States)

    Metropolitan Corporate Academy, Brooklyn, NY.

    This paper describes a proposed alternative public high school, the Metropolitan Corporate Academy, a joint project of private and public institutions including the New York City Public Schools and designed to serve at-risk students. An overview notes the high New York City dropout rate and the fragmented nature of most of the programs offered in…

  4. Financing Higher Education in South Africa: Public Funding, Non-Government Revenue and Tuition Fees

    Science.gov (United States)

    Wangenge-Ouma, G.; Cloete, N.

    2008-01-01

    The funding of public higher education is currently a moot issue in South Africa. Public funding has been declining and opportunities for winning non-government revenue remain limited. The frequent raising of tuition fees, which is one of the main strategies public universities have resorted to mitigate declining state funding is not without…

  5. Financing Professional Sports Facilities

    OpenAIRE

    Baade, Robert A.; Victor A. Matheson

    2011-01-01

    This paper examines public financing of professional sports facilities with a focus on both early and recent developments in taxpayer subsidization of spectator sports. The paper explores both the magnitude and the sources of public funding for professional sports facilities.

  6. Financing Agriculture through Islamic Modes And Instruments: Practical Scenarios And Applicability (Research Paper)

    OpenAIRE

    A. Gulaid, Mahmoud

    1995-01-01

    The paper examines the functional and operational activities done during production and marketing of agricultural commodities and contemporary Islamic modes that Islamic banks use to finance them and assesses the possibility of financing them through Islamic instruments.

  7. 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.

  8. Financing Solar PV at Government Sites with PPAs and Public Debt (Brochure)

    Energy Technology Data Exchange (ETDEWEB)

    2011-11-01

    Historically, state and local governmental agencies have employed one of two models to deploy solar photovoltaic (PV) projects: (1) self-ownership (financed through a variety of means) or (2) third-party ownership through a power purchase agreement (PPA). Morris County, New Jersey, administrators recently pioneered a way to combine many of the benefits of self-ownership and third-party PPAs through a bond-PPA hybrid, frequently referred to as the Morris Model. At the request of the Department of Energy's Solar Market Transformation group, NREL examined the hybrid model. This fact sheet describes how the hybrid model works, assesses the model's relative advantages and challenges as compared to self-ownership and the third-party PPA model, provides a quick guide to project implementation, and assesses the replicability of the model in other jurisdictions across the United States.

  9. Financing Solar PV at Government Sites with PPAs and Public Debt (Brochure)

    Energy Technology Data Exchange (ETDEWEB)

    2011-12-01

    Historically, state and local governmental agencies have employed one of two models to deploy solar photovoltaic (PV) projects: (1) self-ownership (financed through a variety of means) or (2) third-party ownership through a power purchase agreement (PPA). Morris County, New Jersey, administrators recently pioneered a way to combine many of the benefits of self-ownership and third-party PPAs through a bond-PPA hybrid, frequently referred to as the Morris Model. At the request of the Department of Energy?s Solar Market Transformation group, NREL examined the hybrid model. This fact sheet describes how the hybrid model works, assesses the model?s relative advantages and challenges as compared to self-ownership and the third-party PPA model, provides a quick guide to project implementation, and assesses the replicability of the model in other jurisdictions across the United States.

  10. One Main Application Area of Computing Technology Computing Finance%计算技术的重要应用领域--计算金融

    Institute of Scientific and Technical Information of China (English)

    兰蓉; 徐弥榆; 郑守淇; 桂小林

    2003-01-01

    The progress and change in research methodology are the driving force of putting finance science forward.As a new finance research methodology, by using a lot of hardware and software necessary for high-performance com-puting, computational finance makes it possible to model and predict the evolution of some finance problems such asfinance market simulation and security pricing. This paper discusses the composition and connotation of computationalfinance, analyzes the basic characters of high-performance computing, and introduces three exploration and applica-tion in computational finance researches including: security pricing and risk calculations; integrated financial productmanagement; financial innovation and the computer-aided design of financial products.

  11. Anatomy of Public-Private Partnerships : Their Creation, Financing, and Renegotiations

    NARCIS (Netherlands)

    Miranda Sarmento, J.; Renneboog, L.D.R.

    2014-01-01

    Abstract: This paper presents the main reasons why public-private partnerships (PPPs) are adopted as well as the possible disadvantages for the public and private sectors. By means of two case studies on bridge construction and railway infrastructure (Fertagus and Lusoponte), we elucidate how a PPP

  12. The Public Finance Stance and the Economic Growth: the Case of European Union

    OpenAIRE

    2007-01-01

    This paper is studying the impact of public budget deficit on the economic growth. We have tested the connection between budget deficit and economic growth, using econometrical analysis (the Pool Data Model). Within this framework, we have quantified the intensity of connections between public budget deficit and economic growth in the case of European Union 25.

  13. 75 FR 70582 - Use of Public Housing Capital Funds for Financing Activities

    Science.gov (United States)

    2010-11-18

    ...; correction. SUMMARY: This publication makes a technical correction to the preamble of the final rule on...-free number). Hearing- or speech-impaired individuals may access this number through TTY by calling the... correction does not substantively change the rule. Accordingly, FR Doc. 2010-26404, Use of Public Housing...

  14. A Tale of Two Pities: The Story of Public Higher Education Finance in America

    Science.gov (United States)

    Longanecker, David

    2006-01-01

    Institutions of higher education lament the fact that policymakers have lost faith in them, particularly public higher education. One proof of such loss of faith is the substantial, steady, and sustained decline of share of public resources devoted to higher education. One unfortunate consequence of this decline in funding has been increased…

  15. Anatomy of Public-Private Partnerships : Their Creation, Financing, and Renegotiations

    NARCIS (Netherlands)

    Miranda Sarmento, J.; Renneboog, L.D.R.

    2014-01-01

    Abstract: This paper presents the main reasons why public-private partnerships (PPPs) are adopted as well as the possible disadvantages for the public and private sectors. By means of two case studies on bridge construction and railway infrastructure (Fertagus and Lusoponte), we elucidate how a PPP

  16. The Equity Impact of Public Finance of Private Education Provision in Cote d'Ivoire

    Science.gov (United States)

    Sakellariou, Chris; Patrinos, Harry Anthony

    2009-01-01

    The equity effects of public subsidization of private schools in Cote d'Ivoire are analyzed. The subsidy per student in private (and public) schools increases as one goes to higher household per capita expenditure groups. Students from families in the highest expenditure quartile receive twice the subsidy received by students from families in the…

  17. Publication misrepresentation among otolaryngology residency applicants.

    Science.gov (United States)

    Beswick, Daniel M; Man, Li-Xing; Johnston, Bruce A; Johnson, Jonas T; Schaitkin, Barry M

    2010-12-01

    To assess the extent of research publication misrepresentation among otolaryngology residency applicants and to determine applicant attributes associated with misrepresentation. Prospective study. A single otolaryngology residency program. Electronic Residency Application Service (ERAS) applications to the incoming 2010 class of an otolaryngology residency program were reviewed for peer-reviewed journal publications reported as "provisionally accepted," "accepted," or "in print." Publications were verified by searching PubMed, Google Scholar, and electronic journals. Applicants with remaining unverified publications were e-mailed before announcing interviews. Erroneously reported or unverifiable publications were considered misrepresented. There were 432 publications reported by 173 of 325 applicants (53.2%). Twenty-two publications (5.1%) were misrepresented by 17 applicants (9.8%). Contacting applicants verified 26 publications and identified 10 errors. Seven publications were inappropriately reported as provisionally accepted, three articles were not peer-reviewed, and applicants were erroneously listed as first author on two publications. Ten publications remained unverifiable. Multivariate logistic regression models showed that being an international medical graduate (P = 0.002) and male gender (P = 0.040) were predictors of misrepresentation after adjusting for potential confounders. Among international medical graduates alone, no attributes were associated with misrepresentation. All U.S. applicants with misrepresented publications were male (P = 0.033) and were from a medical school not ranked in the top 50 by U.S. News & World Report for research (P = 0.002) or primary care (P = 0.018). Misrepresentation of research experience exists among otolaryngology residency applicants. ERAS should develop standardized definitions for publication statuses to help reduce inadvertent misrepresentation. Copyright © 2010 American Academy of Otolaryngology-Head and Neck

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2005-06-15

    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.

  19. How a new 'public plan' could affect hospitals' finances and private insurance premiums.

    Science.gov (United States)

    Dobson, Allen; DaVanzo, Joan E; El-Gamil, Audrey M; Berger, Gregory

    2009-01-01

    Two key health reform bills in the House of Representatives and Senate include the option of a "public plan" as an additional source of health coverage. At least initially, the plan would primarily be structured to cover many of the uninsured and those who now have individual coverage. Because it is possible, and perhaps even likely, that this new public payer would pay less than private payers for the same services, such a plan could negatively affect hospital margins. Hospitals may attempt to recoup losses by shifting costs to private payers. We outline the financial pressures that hospitals and private payers could experience under various assumptions. High uninsured enrollment in a public plan would bolster hospital margins; however, this effect is reversed if the privately insured enter a public plan in large proportions, potentially stressing the hospital industry and increasing private insurance premiums.

  20. FISCAL POLICY INSTRUMENTS OF STABILIZATION OF PUBLIC FINANCES IN FOREIGN COUNTRIES

    Directory of Open Access Journals (Sweden)

    V. Zaichykova

    2013-07-01

    Full Text Available The article deals with topical issues to use the experience of foreign countries on measures of fiscal policy in reducing the public deficit, streamlining expenditure in terms of financial instability.

  1. Using Public AID Programs to Finance Innovation in Multi-Level Governance Systems

    Directory of Open Access Journals (Sweden)

    Manuel GUISADO-GONZÁLEZ

    2013-02-01

    Full Text Available This paper explores how different public administrations (regional, national, European and Framework Program allocate public resources to promote innovation among innovative companies in the Spanish manufacturing industry. We incorporate variables that have never been treated in this line of research before, such as exportoriented and Pavitt’s taxonomy among others. In order to know the preferences of each public program aimed at promoting innovation we use two econometric estimation techniques: first, a binary logistic regression and, second, another binary logistic regression corrected for selection bias derived from the lack of consideration of certain relevant characteristics of manufacturing firms that do not innovate. We check if the importance and statistical significance of certain explanatory variables depend on the estimation method used. We found that the four public administrations preferably assign public resources to Spanish companies that cooperate with other domestic companies. We also found that European programs (EU and Framework Program show their allocation preferences towards innovative firms that export outside EU. The public aid from the Spanish central administration seeks to promote the creation of large ‘national champions’.

  2. Financing Infrastructure: A Spectrum of Country Approaches

    OpenAIRE

    Sophia Chong; Emily Poole

    2013-01-01

    Over recent decades, there has been a shift away from public infrastructure financing towards private infrastructure financing, particularly in advanced economies. In this article, infrastructure financing in four countries – China, India, Australia and the United Kingdom – is examined to illustrate the different approaches taken by governments to finance infrastructure and encourage private financing. In all four countries, public financing of infrastructure remains significant, ranging from...

  3. Publication misrepresentation among urology residency applicants.

    Science.gov (United States)

    Hsi, Ryan S; Hotaling, James M; Moore, Tarah N; Joyner, Byron D

    2013-06-01

    To assess the extent and types of publication misrepresentation among medical students applying to the urology residency program at the University of Washington. Research experience and publications are the selection criteria used to judge and rank urology residency applicants. Electronic Residency Application Service (ERAS) applications submitted for the incoming class of 2011 for urology residency at the University of Washington were reviewed. All listed publications were verified against PubMed and Google search engines. Misrepresentation was defined as non-authorship of an existing article, authorship claimed of a nonexistent article, or first-authorship listed incorrectly. Of the 198 total applications, 124 (63 %) applicants reported 541 publications, including 112 abstracts and 429 journal articles. 347 (65 %) articles and abstracts were verifiable. Misrepresentation of 12 (3.5 %) published articles was found in 9 applicants (7 %), which included self-promotion to first-authorship (6), followed by non-existent articles (5), and a repeated publication listing (1). On univariate analysis, higher age (p = 0.008), higher number of total publications reported (p misrepresentation. Due to the low incidence, the study was not adequately powered to perform a multivariate analysis. Misrepresentation of publications listed in ERAS among urology applicants remains significant. Residency program directors should require applicants to submit copies of all of their publications, whether in print, in-press, or submitted to be placed as part of their application file.

  4. Policy Perspectives on State Elementary and Secondary Public Education Finance Systems in the United States

    Science.gov (United States)

    Verstegen, Deborah A.

    2016-01-01

    The purpose of this article is to describe and compare individual state funding systems for public elementary and secondary education in the United States. States' major education funding systems are described as well as funding mechanisms for students with disabilities; English language learners (ELL); gifted and talented students; and low income…

  5. 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...

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

    DEFF Research Database (Denmark)

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

    that provide a high social safety net. The analysis is based on a forecast for the entire Danish economy made using a dynamic computable general equilibrium model with overlapping generations. Net contributions to the public purse are presented both as cross-sectional figures for a long time horizon...

  7. Public Financing of Religious Schools: James G. Blaine and Justice Clarence Thomas' "Bigotry Thesis"

    Science.gov (United States)

    Alexander, Kern

    2007-01-01

    United States Supreme Court Justice Clarence Thomas writing for a plurality of the Court in "Mitchell v. Helms" in 2000 advanced the idea that state constitutional prohibitions against public funding of religious schools were manifestations of anti-Catholic bigotry in the late 19th century. Thomas' reading of history and law led him to…

  8. 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…

  9. Public policy and risk financing strategies for global catastrophe risk management - the role of global risk initiatives

    Science.gov (United States)

    McSharry, Patrick; Mitchell, Andrew; Anderson, Rebecca

    2010-05-01

    Decision-makers in both public and private organisations depend on accurate data and scientific understanding to adequately address climate change and the impact of extreme events. The financial impacts of catastrophes on populations and infrastructure can be offset through effective risk transfer mechanisms, structured to reflect the specific perils and levels of exposure to be covered. Optimal strategies depend on the likely socio-econonomic impact, the institutional framework, the overall objectives of the covers placed and the level of both the frequency and severity of loss potential expected. The diversity of approaches across different countries has been documented by the Spanish "Consorcio de Compensación de Seguros". We discuss why international public/private partnerships are necessary for addressing the risk of natural catastrophes. International initiatives such as the Global Earthquake Model (GEM) and the World Forum of Catastrophe Programmes (WFCP) can provide effective guidelines for constructing natural catastrophe schemes. The World Bank has been instrumental in the creation of many of the existing schemes such as the Turkish Catastrophe Insurance Pool, the Caribbean Catastrophe Risk Insurance Facility and the Mongolian Index-Based Livestock Insurance Program. We review existing schemes and report on best practice in relation to providing protection against natural catastrophe perils. The suitability of catastrophe modelling approaches to support schemes across the world are discussed and we identify opportunities to improve risk assessment for such schemes through transparent frameworks for quantifying, pricing, sharing and financing catastrophe risk on a local and global basis.

  10. French Public Finances; Modeling Long-Term Prospects and Reform Options

    OpenAIRE

    Karl F Habermeier; Fabrice Lenseigne

    1998-01-01

    Over the coming decades, demographic developments will lead to a significant increase in public outlays on pensions and health care, relative to national income. This study extends earlier work by considering the adverse effects of taxation on the determinants of economic growth -- in particular, investment, productivity growth, and labor force participation. Available empirical evidence suggests that these adverse effects could well be sizable, and that conventional estimates of the adverse ...

  11. The sustainability of public finances in the context of population ageing

    OpenAIRE

    Dries Dury; Luc Van Meensel

    2007-01-01

    In the decades ahead, the size and age structure of the European population will change dramatically. These demographic changes will obviously have a significant impact on society. Economic growth is expected to slow down following the reduction in the population of working age. In addition, there will be strong upward pressure on public expenditure on pensions, health care and long-term care for the elderly. It is in that context that questions arise regarding the long-term sustainability of...

  12. 我国公共文化设施边际融资的最优选择%The Optimal Marginal Financing Choice of Public Cultural Facilities

    Institute of Scientific and Technical Information of China (English)

    廖青虎; 陈通; 孙钰

    2015-01-01

    Based on the clarification and analysis of six risk factors of deciding the most optimum margin financing in public facilities, this paper samples the data of 1325 public facilities of 869 financing platforms from 2011 to 2013 and uses stepwise logistic regression analysis to figure out the extent of the influence of risk factors upon the most optimum marginal fi-nancing of public facilities.The study shows that:the incrementality of culture, government’s financing risk and the growth of government’s bargaining capacity in cost default would make social financing a preferavle choice for public facilities financing, whereas the increase in credit supply makes debt financing a better choice.The effect order from great to small is as follows:bargaining capacity of the government in cost default, credit supply, the incrementality of culture, and government’s financing risk.%在梳理并分析公共文化设施边际融资影响因素的基础上,以我国2011-2013年869家地方融资平台1325个公共文化设施的数据为样本,采用逐步回归的logistic方法处理面板数据,探讨公共文化设施边际融资的最优选择。研究表明:文化品牌价值的增长能力、政府融资风险、资金清算时政府价格谈判能力的增加会使公共文化设施倾向于选择社会资本融资;信贷供给的增加使其倾向于选择债务融资,影响程度的大小顺序为:政府的价格谈判能力、信贷供给、文化品牌价值的增长能力以及政府融资风险。

  13. Construction of Public Morality under the Perspective of Modern Finance%现代财政视域下的公共道德建设

    Institute of Scientific and Technical Information of China (English)

    王庆

    2016-01-01

    The reform measures of modern finance highlight the characteristics of our country's public morality which is u-niversality, equality, democracy and empathy. Therefore, we should make full use of the reform of establishing the modern fi-nance, and accelerate the construction of modern public moral system with adapting to the socialist market economy through deepening the theoretical knowledge of modern finance and public morality, regulating the modern financial revenue system, improving the modern financial expenditure structure, constructing the modern budget system and reforming the assessment standards of modern finance.%现代财政的改革内容映射出我国公共道德应具备普遍性、平等性、民主性和共情性特征,故应充分利用我国建立现代财政制度的契机,通过深化现代财政与公共道德的理论认识、规范现代财政收入体系、改善现代财政支出结构、建设现代预算制度和革新现代财政考量制度等措施,实现现代财政制度下公共道德的健康发展。

  14. Big Data Applications in Internet Finance%互联网金融中的大数据应用

    Institute of Scientific and Technical Information of China (English)

    叶中行

    2015-01-01

    互联网金融是基于互联网及移动通信、大数据、云计算、社交平台、搜索引擎等信息技术,实现资金融通、支付、结算等金融相关服务的金融业态,是现有金融体系的进一步完善和普惠金融的重要内容.数据是互联网金融的核心,大数据技术是保证互联网金融健康发展的关键支撑,互联网金融中的大数据应用包括精确营销、信用评估、资产定价、风险管理和指数编制等.互联网金融大数据应用面临着共享失联、内容失真、处理失速、分析失能和安全失控的问题和挑战.%The internet finance, based on the information technologies such as internet, mobile communications, big data, cloud computing, social media and search engine, is a new financial mode for investment, payment and accounting. It not only represents a further improvement in the current financial system but also constitutes an important part of the inclusive finance. Data is the core of internet finance. Big data technology is one of the key supports for the development of internet finance. The big data applications in internet finance includes accurate marketing, credit valuation, asset pricing, risk management and index design. The risks and challenges of losing connection in data sharing, distortion of content, processing speed loss, disability of analysis and losing control of security for the application of big data in internet finance.

  15. The public finance of medical and dental care in Newfoundland--some historical and economic considerations.

    Science.gov (United States)

    Brown, M C

    1981-04-01

    The article discusses the evolution of Newfoundland's health care system from the turn of the century to the present. During this time there were considerable changes in social conditions, political arrangements and the availability of public monies, all of which influenced the structure of the health care sector. In general terms, Newfoundland's health care system shifted from one involving low expenditures and many British type institutions to one involving high expenditures and American type institutions. The evidence suggests that the changes have been particularly beneficial for Newfoundland's merchant class, including the doctors and dentists, although some benefits have also accrued to patients and fishermen.

  16. [Health financing in Lebanon. I. Organization of health care services, coverage system and contribution of the Ministry of Public Health].

    Science.gov (United States)

    Ammar, W; Mechbal A el-H; Awar, M

    1998-01-01

    This paper intends to analyze the health care system in Lebanon from the organizational and financial points of view. It allows for an understanding of the health services' market by tackling it from different angles: supply versus demand, private versus public sectors, curative versus preventive services, hospital versus ambulatory care. This study necessitated a review of all previous surveys made in this field, during the after-war period. It also needed the daily collection and follow-up of pertinent data with all private and public agencies and concerned ministries, over a one-year period. In addition, a critical analysis has been made to the survey Conditions de vie des ménages, en 1997, that was carried out by the Central Administration of Statistics, that came to complete the missing data concerning household expenditures on insurance and health services. Especially that this survey covered the same period (1997), subject of this study. The paper reveals that, although the private sector is the main provider of both hospital and ambulatory care, private hospitals are flourishing on public money, whereas outpatients care is mainly financed by the households. Evidence shows that the Lebanese health care system succeeded in resolving the problem of accessibility to primary, secondary and tertiary health care, responding thus to the value of equity. But, at the price of an ever escalating cost, threatening the sustainability of the system. This is what is attained in this paper, as it shows clearly that expenditures on health have reached an alarming level of the GDP share. Our purpose being providing solid arguments in favor of reforming the health system.

  17. Health issues in the Arab American community. Arab Americans in publicly financed substance abuse treatment.

    Science.gov (United States)

    Arfken, Cynthia L; Kubiak, Sheryl Pimlott; Koch, Alison L

    2007-01-01

    To determine the characteristics of Arab Americans receiving treatment and to compare them with individuals of other ethnic groups. We used admission data (FY2005) for Michigan publicly funded substance abuse treatment (N=69,989). Arab American ethnicity (n=224 or 0.3% of admissions) was defined by codes for race, ethnicities or primary language of Arabic (n=21). Other ethnicities examined were American Indian, Hispanic, African American, and White. The number of Arab American admissions was lower than expected for the population (RR=0.25). Admissions were concentrated (81%) in metropolitan Detroit as is the community (82%, RR=.99), unlike other ethnicities. Primary drugs of abuse were alcohol (34.8%), marijuana (17.9%), heroin (17.4%) and crack cocaine (15.6%). Mean duration of use (11.2 yrs) was significantly lower than for other ethnicities. Arab American admissions were predominately male (76.3%), unemployed (62.1%) and with criminal justice involvement (58%), similar to other ethnicities. Using administrative database has its limits and may misclassify ethnicities. Based upon the available data, it appears that Arab Americans accounted for a small percentage of admissions to publicly funded substance abuse treatment in Michigan. Most of the admissions listed English as the primary language, raising concern that language may be a barrier to entry. Admission profiles were generally similar across ethnicities, except that Arab Americans were entering treatment after shorter duration of use. These data can inform development of treatment programs and outreach efforts.

  18. Ethical Inquiry on China's Public Finance%对我国公共财政的伦理探究

    Institute of Scientific and Technical Information of China (English)

    王庆

    2012-01-01

    There have been existed lots of theories about public finance since our country proposed officially public finance in 1998, but most of discussion was focused on the economic growth, which makes us un- derstand public finance biased in the efficiency and productiveness. In fact, which aspects of fiscal revenues and expenditures should concentrate, is more an ethical question than economy. Therefore, we should ana- lyze the ethical nature from the democratization, public goods and marketization of three basic characteris- tics of public finance, and build ethics of public finance by means of laws and regulations, budget develop- ment, balance of payments adjustment, in order to play the real role of public finance in market economy and achieve a better life for individuals and clusters, as well as the harmonious development of society and economy.%自1998年我国提出公共财政以来,对公共财政的理论探讨颇多,但很多研究立足于经济增长,带有明显的生产性和投资性。政府的财政收支集中在哪些方面,更应是一个伦理问题,应从公共财政的民主化、公共产品化和市场化三个基本特征出发,深入分析公共财政的伦理性质,并通过法律规范、预算建设、收支调整等措施对公共财政的伦理性进行构建,以期在市场经济下,真正发挥公共财政的作用,从而实现个体和集群的美好生活以及社会经济的和谐发展。

  19. Benefits Awareness: Educating Industry, Finance, and the Public About Space Commercialization

    Science.gov (United States)

    Powers, Blake; Nall, Mark; Casas, Joseph C.; Henderson, Robin N. (Technical Monitor)

    2002-01-01

    For space to be truly commercialized, businesses of all sizes and types must be involved, from foundries to agricultural research initiatives. Achieving this goal, however, requires three separate but integrated educational efforts to support it. The first is to educate industry leaders about the possibilities available through such research, while dispelling some of the myths and misinformation educate the financial community about the economic benefits that result both from the research and the leveraging of private research dollars through the use of space and microgravity research. The third is to educate the public about the tangible benefits that come directly to them from such efforts, the economic benefits to national economies from same, and the other less tangible benefits that will cascade from commercial operations. Together, these steps will educate and provide the framework necessary to help advance space commercialization.

  20. 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…

  1. La politique de financement public du sport au Cameroun. Quels enjeux pour quelle politique fiscale ?

    Directory of Open Access Journals (Sweden)

    Obam Richard Evina

    2016-01-01

    Pour ce faire, cinq paliers doivent être successivement franchis. Le premier serait constitué par l'adoption d'une loi sur l'organisation et la promotion des activités physiques et sportives au Cameroun ayant comme caractéristiques essentielles l'obligation de constitution des clubs en société anonyme à objet sportif (SAOS avant toute affiliation à une Fédération et la création d'une Direction Nationale de Contrôle et de Gestion (DNCG ; Le deuxième palier consisterait dans l'opérationnalisation de la loi de 2006 sur le partenariat public-privé qui permettrait aux entreprises privées d'intervenir dans le domaine de la construction des infrastructures sur le modèle Build-operate-transfer (BOT ; Le troisième palier serait l'adoption d'un dispositif fiscal incitatif pour le mécénat, le sponsoring, le bénévolat, le marchandising et les droits télé ; Enfin, outre la dynamisation de la coopération internationale dans la perspective de diversification des financements viendrait parachever cette architecture de reconstruction du mouvement sportif camerounais.

  2. 论公立医院筹资模式的构建%Discussion on Construction of Public Hospital Financing Mode

    Institute of Scientific and Technical Information of China (English)

    黄瑶瑶; 蔡战英

    2014-01-01

    The fund shortage for public hospital has seriously restricted the development of hospitals in the current medical environment. How to disperse the financial pressure, raise sufficient funds and reduce the cost of capital has become the focus of the financial management of the hospital. In this paper, the problems in public hospital financing management were analyzed and potential financing mode was put forward. The hospital should make scientific decision on the financing and select the optimal financing scheme based on the actual situation.%在当前医疗环境下,公立医院资金短缺,严重制约医院的发展。如何分散资金压力,筹集充足资金,降低资金成本已成为医院财务管理的重点。本文分析公立医院筹资管理中存在的问题,介绍并探讨公立医院可行的筹资模式。医院应立足于单位实际情况,进行科学的筹资决策,选择最优的筹资方案。

  3. Education Resourcing in Post-Apartheid South Africa: The Impact of Finance Equity Reforms in Public Schooling: Research Article

    Science.gov (United States)

    Motala, Shireen

    2006-01-01

    Through an analysis of recent quantitative data on equity and school funding in South Africa, this article aims to explicate the patterns and typology of inequality in post-apartheid South Africa, and to deepen our understanding of the construct of equity. It also aims to understand the application of equity in the context of public schooling…

  4. Recent advances in estimating nonlinear models with applications in economics and finance

    CERN Document Server

    Ma, Jun

    2013-01-01

    Featuring current research in economics, finance and management, this book surveys nonlinear estimation techniques and offers new methods and insights into nonlinear time series analysis. Covers Markov Switching Models for analyzing economics series and more.

  5. Influence of the Physiocratic Thought in the Organization of Colombia Public Finance in the First Half of the 19th Century

    OpenAIRE

    de la Cruz Vergara, Maribel; Universidad de Cartagena

    2016-01-01

    The purpose of this research was to analyze the influence of the thought of spaniard phy- siocrats in the creation, organization, and set in motion of Colombian public finances in the first half of the 19th Century. Thus, we will tackle the proposals of Jovellanos and Ca- pomanes, presented to improve the econo- mic growth of spain, which came to America through the Bourbon Reforms and remained in force during the first years of the Republic, despite the independence revolutions. Addi- tional...

  6. Public-Private Partnerships for Government Financing, Controlling Risk, and Value-for-Money: The UK Experience

    Science.gov (United States)

    2006-09-01

    into wider markets and other partnership arrangements where private-sector expertise and financing are used to exploit the commercial potential of...The major portion of the financing (80%) was loans from a consortium of six banks, with HSBC as the leading bank (Symes, 2006). The asset company...Processes Portfolio Optimization via KVA + RO MOSA Contracting Implications Strategy for Defense Acquisition Research Spiral Development BCA

  7. 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.

  8. Financing Public Higher Education

    Science.gov (United States)

    Adams, Walter

    1977-01-01

    Argues that, contrary to popular belief, the demand for higher education in the United States has not declined, and suggests that if such a decline does occur, it will be a result of social and political priorities, rather than a result of natural and inexorable forces. Available from: Secretary, The American Economic Association, 1313 21st…

  9. 财政学教学改革的生态视域思考%Thinking about Pedagogy Reform of Public Finance from the Ecological Perspective

    Institute of Scientific and Technical Information of China (English)

    李翠兰

    2015-01-01

    作为政府的一种经济行为,财政是动态的而非静止的状态,财政学教学也应遵循这一规律。传统的财政学教学存在教学内容滞后、教学方法单一、教学目标狭窄等问题,从生态视域将动态的观念渗透于财政教学过程中,从生态学的整体性、开放性、动态平衡性和可持续性的角度,通过营造教学环境、充实教学内容、创新教学方法、扩展教学目标等改革,不仅可以提高财政学的教学质量与效果,更重要的是能发展学生的能力,使教学在和谐的环境中进行,实现教学活动的可持续发展。%As an economic behavior of the government, public finance is dynamic, not a static state. Consequently pedagogy of public finance should follow this rule. Yet there are some problems in the traditional pedagogy of public finance, such as the outdated teaching material, the unchangeable teaching method, narrow teaching objective and so on. From the ecological perspective, we may put this concept into the pedagogy of public finance, base our pedagogy on the ecological view of integrity, openness, dynamic balance and sustainability, include pedagogy reform scenarios by creating teaching environment, enriching teaching materials, innovating teaching methods and expanding teaching objectives, it would not only improve the quality and effects of the pedagogy of public finance, but also develop the students’ practical ability. Then teaching activities can be carried out in harmony environment, and it will ensure the sustainable development of teaching activities.

  10. A discussion on public hospital's financing risks and the control strategies%公立医院融资风险及其管理策略探讨

    Institute of Scientific and Technical Information of China (English)

    雒敏; 聂志萍

    2011-01-01

    The paper described the conception and forms of risks for public hospitals financing,proposing the risk avoidance strategy, loss control strategy, and risk transfer strategy against these risks. In addition, it is proposed to take proactive measures to build the financing risk management system for public hospitals, and construct an effective financing risk prewaming mechanism, raise the scientific standard of financial decision-making, and develop a clear-cut economic responsibility system for the hospital leaders during their term, for the purpose of effectively minimizing the risks.%描述了公立医院融资风险的概念及主要表现形式,提出融资风险的风险回避策略、损失控制策略、风险转嫁策略,并建议采取积极措施,构建公立医院融资风险管理系统、建立有效的融资风险预警机制、提高财务决策的科学化水平、建立明晰的领导任期内经济责任制,以有效防范风险的发生。

  11. Solar thermal financing guidebook

    Energy Technology Data Exchange (ETDEWEB)

    Williams, T.A.; Cole, R.J.; Brown, D.R.; Dirks, J.A.; Edelhertz, H.; Holmlund, I.; Malhotra, S.; Smith, S.A.; Sommers, P.; Willke, T.L.

    1983-05-01

    This guidebook contains information on alternative financing methods that could be used to develop solar thermal systems. The financing arrangements discussed include several lease alternatives, joint venture financing, R and D partnerships, industrial revenue bonds, and ordinary sales. In many situations, alternative financing arrangements can significantly enhance the economic attractiveness of solar thermal investments by providing a means to efficiently allocate elements of risk, return on investment, required capital investment, and tax benefits. A net present value approach is an appropriate method that can be used to investigate the economic attractiveness of alternative financing methods. Although other methods are applicable, the net present value approach has advantages of accounting for the time value of money, yielding a single valued solution to the financial analysis, focusing attention on the opportunity cost of capital, and being a commonly understood concept that is relatively simple to apply. A personal computer model for quickly assessing the present value of investments in solar thermal plants with alternative financing methods is presented in this guidebook. General types of financing arrangements that may be desirable for an individual can be chosen based on an assessment of his goals in investing in solar thermal systems and knowledge of the individual's tax situation. Once general financing arrangements have been selected, a screening analysis can quickly determine if the solar investment is worthy of detailed study.

  12. 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...

  13. Commercial Pesticides Applicator Manual: Public Health.

    Science.gov (United States)

    Fitzwater, William D.; Reed, Leonard G., Jr.

    This training manual provides information needed to meet the minimum EPA standards for certification as a commercial applicator of pesticides in the public health pest control category. The text discusses pests such as roaches, bedbugs, bees, mosquitoes, gnats, flies, and rodents with possible control measures provided. (CS)

  14. Shifting the Burden: Public and Private Financing of Higher Education in the United States and Implications for Europe

    Science.gov (United States)

    Heller, Donald E.; Rogers, Kimberly R.

    2006-01-01

    Over the last two decades, there has been a significant change in the financing of higher education in the United States. A decrease in student and institutional support in real terms, tuition increases at all types of institutions, along with the view that students are the primary beneficiaries of higher education has resulted in policies that…

  15. Annotated Bibliography on School Finance: Policy and Political Issues; Federal Government; State Issues; Non-Public Schools; Accountability.

    Science.gov (United States)

    Gipson, Joella

    Limited to periodical literature, this annotated bibliography on school finance contains 81 references grouped in 5 categories: (1) policy and politica issues, (2) federal government, (3) state issues, (4) aid to nonpublic schools, and (5) accountability. Following the bibliographic citations, annotations range from 4 to 15 lines and conclude by…

  16. Annotated Bibliography on School Finance: Policy and Political Issues; Federal Government; State Issues; Non-Public Schools; Accountability.

    Science.gov (United States)

    Gipson, Joella

    Limited to periodical literature, this annotated bibliography on school finance contains 81 references grouped in 5 categories: (1) policy and politica issues, (2) federal government, (3) state issues, (4) aid to nonpublic schools, and (5) accountability. Following the bibliographic citations, annotations range from 4 to 15 lines and conclude by…

  17. 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)

  18. 公共财政资助民办高等教育的理论辩护%Theoretical Analysis of Private Higher Education Funded by Public Finance

    Institute of Scientific and Technical Information of China (English)

    谭光兴; 王卫霞

    2016-01-01

    公共产品理论、外部性理论、高等教育成本分担理论、公平性理论等经济学、管理学基本理论从必要性、合理性、合法性等方面为公共财政资助民办高等教育提供了较为充分的理论依据,但出于技术上的、战略上的、观念上的种种原因,至今仍存在着诸多对公共财政资助民办高等教育必要性和合理性的质疑与反对。尽管目前针对公共财政资助民办高等教育的政策讨论还存在不可避免的反对意见,但公共财政的使命和民办高等教育的属性已经充分说明了公共财政资助民办高等教育的必要性与正当性,那些关于公共财政不应当资助民办高等教育的种种理由都是站不住脚的。%The basic theories in economics and management such as public goods theory, externality theory, cost sharing theory of higher education, equity theory provide sufficient theoretical basis for the necessity, rationality and legitimacy of private higher education funded by public finance. But for technical, strategic, ideological reasons, there are still a lot of controversies against its necessity and rationality. Although, there are inevitable oppositions in current policy discussions, the mission of public finance and the property of private higher education have fully demonstrated the necessity and legitimacy of private higher education funded by public finance, and those various reasons that public finance should not fund private higher education are untenable.

  19. 43 CFR 6.9 - Publication and public use of invention before patent application is filed.

    Science.gov (United States)

    2010-10-01

    ... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Publication and public use of invention... Interior PATENT REGULATIONS Inventions by Employees § 6.9 Publication and public use of invention before patent application is filed. (a) Publication or public use of an invention constitutes a statutory bar to...

  20. 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...

  1. Using Revolving Loan Funds to Finance Energy Savings Performance Contracts in State and Local Agency Applications

    Energy Technology Data Exchange (ETDEWEB)

    Booth, S. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Doris, E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Knutson, D. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Regenthal, S. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2011-05-01

    Numerous pre-existing and newly emerging state- and locally-managed revolving loan funds (RLFs) are being used in conjunction with energy savings performance contracts (ESPCs) as an option for financing of energy efficiency projects. This document presents an overview of ESPCs and how they fit within the RLF framework. There are a variety of options available to state and local governments to catalyze the disbursement of available capital from RLFs and increase the number of ESPC projects within their jurisdictions. To demonstrate the implementation of this type of financing program in action, this report concludes with four program case studies of state-sponsored RLFs where ESPCs are an allowed use of funds.

  2. 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.

  3. 公立医院产权制度改革对医院融资的影响剖析%Analyzing the Effects on Hospital Financing for Property System Reform of Public Hospitals

    Institute of Scientific and Technical Information of China (English)

    何克春; 袁红梅; 李明; 刘丹; 魏清明; 刘刚; 颜硕; 凃凡

    2014-01-01

    Objective: To discuss the effects on hospital financing after the implement of property right system reform in public hospitals. Methods: Using situation judgment and information analysis to analyze the existing financing problems of public hospitals. Results: The financing difficulty of public hospitals is an important issue which is a block for sustainable development of public hospital at present, and the current property rights system of public hospitals in China has become a major obstacle for hospital successful financing. Conclusion: The property right system reform of public hospitals certainly would perform positive effects on financing of public hospitals.%目的:探讨公立医院产权制度改革实施后对医院融资产生的影响。方法:运用形势判断与情报分析法,解析公立医院目前融资存在的问题。结果:公立医院融资难是目前困扰很多公立医院持续发展的一个重要问题,而现行的公立医院产权制度则是制约医院顺利融资的一大障碍。结论:公立医院产权制度改革势必对医院融资产生积极影响。

  4. 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...

  5. Public participation in GIS via mobile applications

    Science.gov (United States)

    Brovelli, Maria Antonia; Minghini, Marco; Zamboni, Giorgio

    2016-04-01

    Driven by the recent trends in the GIS domain including Volunteered Geographic Information, geo-crowdsourcing and citizen science, and fostered by the constant technological advances, collection and dissemination of geospatial information by ordinary people has become commonplace. However, applications involving user-generated geospatial content show dramatically diversified patterns in terms of incentive, type and level of participation, purpose of the activity, data/metadata provided and data quality. This study contributes to this heterogeneous context by investigating public participation in GIS within the field of mobile-based applications. Results not only show examples of how to technically build GIS applications enabling user collection and interaction with geospatial data, but they also draw conclusions about the methods and needs of public participation. We describe three projects with different scales and purposes in the context of urban monitoring and planning, and tourism valorisation. In each case, an open source architecture is used, allowing users to exploit their mobile devices to collect georeferenced information. This data is then made publicly available on specific Web viewers. Analysis of user involvement in these projects provides insights related to participation patterns which suggests some generalized conclusions.

  6. 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...

  7. BOOK REVIEW: The Illustrated Wavelet Transform Handbook: Introductory Theory and Applications in Science, Engineering, Medicine and Finance

    Science.gov (United States)

    Ng, J.; Kingsbury, N. G.

    2004-02-01

    treatment on finance touches on the use of wavelets by other authors in studying stock prices, commodity behaviour, market dynamics and foreign exchange rates. The treatment on geophysics covers what was omitted from the fourth chapter, namely, seismology, well logging, topographic feature analysis and the analysis of climatic data. The text concludes with an assortment of other application areas which could only be mentioned in passing. Unlike most other publications in the subject, this book does not treat wavelet transforms in a mathematically rigorous manner but rather aims to explain the mechanics of the wavelet transform in a way that is easy to understand. Consequently, it serves as an excellent overview of the subject rather than as a reference text. Keeping the mathematics to a minimum and omitting cumbersome and detailed proofs from the text, the book is best-suited to those who are new to wavelets or who want an intuitive understanding of the subject. Such an audience may include graduate students in engineering and professionals and researchers in engineering and the applied sciences.

  8. Finance Law Reviews

    Science.gov (United States)

    Journal of Education Finance, 1975

    1975-01-01

    Reviews recent state and federal court decisions dealing with issues relevant to educational finance. Within the broad area of elementary-secondary education, specific cases involve allocation of federal school aid, fees charged by public schools for textbooks and instructional materials, property acquisition and school construction, and…

  9. 中国国债融资功能的反思%The Rethinking of Financing Capability of Public Bonds of China

    Institute of Scientific and Technical Information of China (English)

    何志刚

    2003-01-01

    Government debt financing in china emerged with economic reform, whose purpose is to satisfy theneeds of financing for economic construction. It has the characteristics of state financing in the traditionalsystem. The expansion of the scale of the government debt financing is harmful to the market-orientedreform in financeing system and economic development. From the international experience, the issuing ofgovernment debt can not only satisfy the needs of offsetting deficit budget, but also the needs of theestablishment and perfection of government debt markets. So we must rectify the functions of governmentdebt financing. We argue that the issuing of government debt in china should weaken its financial functionand reinforce its financial market function.

  10. Geothermal Outreach and Project Financing

    Energy Technology Data Exchange (ETDEWEB)

    Elizabeth Battocletti

    2006-04-06

    The ?Geothermal Outreach and Project Financing? project substantially added to the understanding of geothermal resources, technology, and small business development by both the general public as well as those in the geothermal community.

  11. Ideas On How To Improve The Teaching Effects Of Public Finance of Economics and Management majors%提高经管类专业《财政学》授课效果的几点思考

    Institute of Scientific and Technical Information of China (English)

    马亚静

    2012-01-01

    This paper attempts to illustrate how to improve the teaching effects of Public Finance. Public finance tells students the knowledge of the governments" revenues and expenditures. Because of' the important roles of government in our life, Public finance is learned by economics and management majors in many universities. But the teaching effect of Public finance is not ideal, and it is necessary to discuss the imprnving of teaching effects of tublic Finance. Some relevant suggestions is put fonvard in the oaDer.%尽管我国是市场经济体制。但政府的经济职能不容忽视。《财政学》研究的是政府的收支活动,与我们生活息息相关,因此很多院校经管类专业开设《财政学》。局限于专业特点,《财政学》常常作为选修课存在,《财政学》的授课效果并不理想、应在教学手段,课程体系及教材等方面进行改革。

  12. 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...... to highlight the perils of an oversized financial sector. States failing to harness natural resources for development led to the concept of the Resource Curse. In many countries, resource dependence generated slower growth, crowding out, reduced economic diversity, lost entrepreneurialism, unemployment......, 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...

  13. 预算法改革研究——以公共财政原则为指导%Research on Budget Law——Guided by the Principle of Public Finance

    Institute of Scientific and Technical Information of China (English)

    韩大鹏

    2012-01-01

    现阶段我国财政体制改革的目标是建立与社会主义市场经济发展相配套的公共财政体系,其根本出发点是弥补"市场失灵"和"满足社会公共需要"。我们正在建立的公共财政体系是市场经济类型下的财政,市场经济的法制性决定了公共财政的基础是法制,它的一切收支活动必须有法可依、依法而为。对预算法改革原则的确定,应遵循公共财政原则并体现公共财政所倡导的理念,只有如此修订后的预算法才能与我国建立公共财政框架的改革目标相匹配。%At present,finance system reforms target is to set up public finance system suited to the development of market economy of socialism.It is to make up market failure and meet the social public need.Public finance system made by us is in socialistic economy system.The law of market economy determines the base of public finance is law.All of activities should deal with according to the law.The principle of the reform of budget law should observe the principles and incarnate the concept advocated by public finance.Only this budget law could suit to the target of the reform of public finance frame.

  14. 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...... of underinvestment and, hence, induces cutting down investment. On the other hand, severely constrained firms benefit more by getting closer to the first-best investment implying higher investment....

  15. CIMPA-UNESCO-MESR-MINECO-MOROCCO research school entitled Statistical Methods and Applications in Finance and Actuarial Science

    CERN Document Server

    Essaky, El; Vives, Josep

    2016-01-01

    This book is the outcome of the CIMPA School on Statistical Methods and Applications in Insurance and Finance, held in Marrakech and Kelaat M'gouna (Morocco) in April 2013. It presents two lectures and seven refereed papers from the school, offering the reader important insights into key topics. The first of the lectures, by Frederic Viens, addresses risk management via hedging in discrete and continuous time, while the second, by Boualem Djehiche, reviews statistical estimation methods applied to life and disability insurance. The refereed papers offer diverse perspectives and extensive discussions on subjects including optimal control, financial modeling using stochastic differential equations, pricing and hedging of financial derivatives, and sensitivity analysis. Each chapter of the volume includes a comprehensive bibliography to promote further research.

  16. Backward Stochastic Differential Equations and Feynman-Kac Formula for Multidimensional L\\'{e}vy Processes, with Applications in Finance

    CERN Document Server

    Lin, Jianzhong

    2012-01-01

    In this paper we show the existence and form uniqueness of a solution for multidimensional backward stochastic differential equations driven by a multidimensional L\\'{e}vy process with moments of all orders. The results are important from a pure mathematical point of view as well as in the world of finance: an application to Clark-Ocone and Feynman-Kac formulas for multidimensional L\\'{e}vy processes is presented. Moreover, the Feynman-Kac formula and the related partial differential integral equations provide an analogue of the famous Black-Scholes partial differential equation and thus can be used for the purpose of option pricing in a multidimensional L\\'{e}vy market.

  17. The Financing of Public – Private Partnership (PPP Projects in Romania – An Evaluation of the Awareness and Know-How among Romanian Organizations

    Directory of Open Access Journals (Sweden)

    Doru-Cristian CORETCHI

    2011-06-01

    Full Text Available In many countries, anti-crisis public measures focus on higher public investment or investment in public objectives, like investment in infrastructure projects, as an important mean to maintain economic activity during the crisis and support a rapid return to sustained economic growth. An instrument to realize these investments is the Public-Private Partnership (hereinafter PPP.Nevertheless, PPP’s are vulnerable to the economic impact of the crisis. Although the final consequences and duration of the crisis are not yet known, the effects on PPP’s can already be identified and estimated. The crisis has made the conditions for this instrument more difficult. Despite some signs of recovery, the volumes and values of the PPP projects currently closing is still significantly below the level reached before the crisis.The topic of PPP financing has never been more important than under the current crisis. Alternative innovative solutions are being sought, new markets need to be opened in order to enable the further development of PPP, the stakeholder organizations have to increase their level of understanding regarding the new environment for PPP.

  18. Quantum Finance

    Science.gov (United States)

    Baaquie, Belal E.

    2007-09-01

    Foreword; Preface; Acknowledgements; 1. Synopsis; Part I. Fundamental Concepts of Finance: 2. Introduction to finance; 3. Derivative securities; Part II. Systems with Finite Number of Degrees of Freedom: 4. Hamiltonians and stock options; 5. Path integrals and stock options; 6. Stochastic interest rates' Hamiltonians and path integrals; Part III. Quantum Field Theory of Interest Rates Models: 7. Quantum field theory of forward interest rates; 8. Empirical forward interest rates and field theory models; 9. Field theory of Treasury Bonds' derivatives and hedging; 10. Field theory Hamiltonian of forward interest rates; 11. Conclusions; Appendix A: mathematical background; Brief glossary of financial terms; Brief glossary of physics terms; List of main symbols; References; Index.

  19. Application of Supply Chain Finance in Operation Financing%供应链金融在企业营运资金筹集中的应用

    Institute of Scientific and Technical Information of China (English)

    储俊

    2011-01-01

    供应链金融作为一种创新的融资模式应运而生,为企业提供了更多获得金融机构营运资金支持的机会。目前,从供应链金融的视角看,我国企业存在着库存现金管理不科学、商业信用利用不充分、存货缺乏有效控制、应收账款回收缓慢等现实问题。企业在营运资金筹集中应用供应链金融,需要注意信用缺失、自我评价过高、质押物选择等方面问题,应通过金融资本与实体经济的协作,构筑银行、企业之间的互利共存,以达到降低整个供应链运作成本,持续发展的产业生态,有效缓解资金短缺问题的目的。%As an innovative financing model,supply chain finance offers more opportunities to gain operation funds from financial institutions for enterprises.From the viewpoint of supply chain finance,Chinese enterprises are not scientific in vault cash management,insufficient commercial utility,lack of effect control on inventory,and slow in receivables.The enterprises should pay attention to credit loss,high self-evaluation,and choice of loan pledge in raising operation funds,and establish mutual benefits between banks and enterprises by cooperation of financial capitals and real economy to reduce the operation cost of the whole supply chain,to sustain the industrial ecology,and to relieve the fund shortage effectively.

  20. The Influence of Urinary Incontinence on Publicly Financed Home Care Services to Low-Income Elderly People.

    Science.gov (United States)

    Baker, Dorothy I.; Bice, Thomas W.

    1995-01-01

    A retrospective cohort design is used to estimate the effect of urinary incontinence (UI) on the public costs of home care services to elderly individuals. Multivariate analyses controlling for other individual, household, and supply characteristics demonstrate that those with UI generate significantly greater public costs for home care services.…

  1. Sustainable finance

    NARCIS (Netherlands)

    dr. Margreet F. Boersma-de Jong

    2012-01-01

    Presentation for Springschool of Strategy, University of Groningen, 10 October 2012. The role of CSR is to stimulate ethical behaviour, and as a result, mutual trust in society. Advantage of CSR for the company and the evolution of CSR. From CSR to Sustainable Finance: how does CSR influence

  2. Computational Finance

    DEFF Research Database (Denmark)

    Rasmussen, Lykke

    One of the major challenges in todays post-crisis finance environment is calculating the sensitivities of complex products for hedging and risk management. Historically, these derivatives have been determined using bump-and-revalue, but due to the increasing magnitude of these computations does...

  3. Computational Finance

    DEFF Research Database (Denmark)

    Rasmussen, Lykke

    One of the major challenges in todays post-crisis finance environment is calculating the sensitivities of complex products for hedging and risk management. Historically, these derivatives have been determined using bump-and-revalue, but due to the increasing magnitude of these computations does...

  4. Sustainable finance

    NARCIS (Netherlands)

    Boersma-de Jong, Margreet F.

    2012-01-01

    Presentation for Springschool of Strategy, University of Groningen, 10 October 2012. The role of CSR is to stimulate ethical behaviour, and as a result, mutual trust in society. Advantage of CSR for the company and the evolution of CSR. From CSR to Sustainable Finance: how does CSR influence Sustai

  5. The European Recovery Economic Plan and Quality of Public Finances – Instruments for Monitoring and Improving Fiscal and Economic Systems

    Directory of Open Access Journals (Sweden)

    Mircea SOROCEANU

    2011-07-01

    Full Text Available “To promote a growth and employment orientated and efficient allocation of resources, Member States should re-direct the composition of public expenditure towards growth-enhancing categories in line with the Lisbon strategy, adapt tax structures to strengthen growth potential, ensure that mechanisms are in place to assess the relationship between public spending and the achievement of policy objectives, and ensure the overall coherence of reform packages”. [The Lisbon Strategy, integrated guideline no 3].

  6. 31 CFR 308.4 - Applicable regulations.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Applicable regulations. 308.4 Section 308.4 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE PUBLIC DEBT GENERAL REGULATIONS GOVERNING FULL-PAID...

  7. 全球公共品供给的筹资分析%Analysis on Financing of Global Public Goods

    Institute of Scientific and Technical Information of China (English)

    孙彦彦

    2013-01-01

      传统理论将国内公共品的供给机制分为市场供给、政府供给和自愿供给三种。现有的全球公共品供给的分析基本上是沿传统的国内公共品供给理论展开的,但这种推演却因全球公共品与国内公共品间的些许差异而在理论上陷入困境。全球公共品供给呈现新的特征,即特定条件下的市场供给和很多情况下的自愿供给。%The traditional theory of public goods supply mechanism is divided into market supply, government supply and voluntary supply. The analysis of the existing supply of global public goods is basically carried out along the traditional theory of domestic public goods supply, but this deduction because of the small differences between the global public goods and domestic public goods. The supply of global public goods presents new characteristics, that is, under certain conditions, the market supply and many cases of voluntary supply.

  8. 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...

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

    Directory of Open Access Journals (Sweden)

    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

  10. Applications of physics to economics and finance: Money, income, wealth, and the stock market

    Science.gov (United States)

    Dragulescu, Adrian Antoniu

    Several problems arising in Economics and Finance are analyzed using concepts and quantitative methods from Physics. The dissertation is organized as follows: In the first chapter it is argued that in a closed economic system, money is conserved. Thus, by analogy with energy, the equilibrium probability distribution of money must follow the exponential Boltzmann-Gibbs law characterized by an effective temperature equal to the average amount of money per economic agent. The emergence of Boltzmann-Gibbs distribution is demonstrated through computer simulations of economic models. A thermal machine which extracts a monetary profit can be constructed between two economic systems with different temperatures. The role of debt and models with broken time-reversal symmetry for which the Boltzmann-Gibbs law does not hold, are discussed. In the second chapter, using data from several sources, it is found that the distribution of income is described for the great majority of population by an exponential distribution, whereas the high-end tail follows a power law. From the individual income distribution, the probability distribution of income for families with two earners is derived and it is shown that it also agrees well with the data. Data on wealth is presented and it is found that the distribution of wealth has a structure similar to the distribution of income. The Lorenz curve and Gini coefficient were calculated and are shown to be in good agreement with both income and wealth data sets. In the third chapter, the stock-market fluctuations at different time scales are investigated. A model where stock-price dynamics is governed by a geometrical (multiplicative) Brownian motion with stochastic variance is proposed. The corresponding Fokker-Planck equation can be solved exactly. Integrating out the variance, an analytic formula for the time-dependent probability distribution of stock price changes (returns) is found. The formula is in excellent agreement with the Dow

  11. Household Finance

    OpenAIRE

    Campbell, John

    2006-01-01

    The welfare benefits of financial markets depend in large part on how effectively households use these markets. The study of household finance is challenging because household behavior is difficult to measure accurately, and because households face constraints that are not captured by textbook models, including fixed costs, uninsurable income risk, borrowing constraints, and contracts that are non-neutral with respect to inflation. Evidence on participation, diversification, and the exercise ...

  12. A Biennial Survey of Public School Finance in the United States, 1920-1922. Bulletin, 1923, No. 47

    Science.gov (United States)

    Swift, Fletcher Harper

    1923-01-01

    Every great war in which the United States has played a part has been followed by educational developments of supreme national importance. As the result of the Revolutionary War the Federal Government acquired a vast public land domain from which it has carved generous grants to the States. Those became the foundation of systems of free public…

  13. Mainstreaming Disaster Risk Management for Finance: Application of Real Options Method for Disaster Risk Sensitive Project

    Directory of Open Access Journals (Sweden)

    KUSDHIANTO SETIAWAN

    Full Text Available This paper discusses the application of real options analysis for a project that is in the process of construction and was affected by a natural disaster. The use of the analytical method has become a way of thinking in making decisions that should be taught to business school students. The case in this paper is based on an MBA thesis at the University of Gadjah Mada that was intended as a showcase for application of real options to address real business problems. It shows one of the strategies in mainstreaming disaster risk management in the business school that also answers the needs of businesses in the disaster-prone country.

  14. Enhancing the Teaching of Statistics: Portfolio Theory, an Application of Statistics in Finance

    Science.gov (United States)

    Christou, Nicolas

    2008-01-01

    In this paper we present an application of statistics using real stock market data. Most, if not all, students have some familiarity with the stock market (or at least they have heard about it) and therefore can understand the problem easily. It is the real data analysis that students find interesting. Here we explore the building of efficient…

  15. Enhancing the Teaching of Statistics: Portfolio Theory, an Application of Statistics in Finance

    Science.gov (United States)

    Christou, Nicolas

    2008-01-01

    In this paper we present an application of statistics using real stock market data. Most, if not all, students have some familiarity with the stock market (or at least they have heard about it) and therefore can understand the problem easily. It is the real data analysis that students find interesting. Here we explore the building of efficient…

  16. 77 FR 47375 - Applications for New Awards; Assistive Technology Alternative Financing Program

    Science.gov (United States)

    2012-08-08

    ... applies to an applicant located in a State or outlying area where an AFP grant has not been previously..., but the State or territory has received less than a total of $1 million in Federal grant funds under... from rulemaking requirements and regulations governing the first grant competition under a new...

  17. VT Tax Increment Financing (TIF) Districts

    Data.gov (United States)

    Vermont Center for Geographic Information — Tax Increment Financing (TIF) Districts is established by a municipality around an area that requires public infrastructure to encourage public and private real...

  18. Pricing Method of Asset Replacement Using Financing Platform of Public Companies%借上市公司平台融资的资产置换定价方法研究∗

    Institute of Scientific and Technical Information of China (English)

    褚义景

    2015-01-01

    企业融资难是现今中国企业发展面临的一大困境,而众多企业发展又急需资金。目前我国企业面临融资难和融资渠道单一的难题,遵循 IPO 排对上市融资基本上不现实,于是借上市公司平台进行融资成为众多企业的一种较好选择。借助上市公司平台融资实现的路径是通过资产置换实现对上市公司控股,然后进行股权质押或增发股票或发行债券实现融资。要实现对上市公司控股就必须置换资产,资产的定价就成为其关键环节。%Financing has been a key bottleneck in the business development of various companies,which are in constant hunger of capitals.However,the difficulty in financing results from the limited finan-cing channels,so that it is unfeasible to wait for going public.As an alternative,many companies turn to the financing platforms of the existing public companies.The acquiring company will first control a target public company through asset replacements.Next,the acquirer is financed by either pledging eq-uities or issuing new stocks or bonds.As a result,to control a public company relies on successful asset replacements,in which case asset pricing will be the key.

  19. TP or not TP: Examining the applicability of the arm's length principle to inter-company equity financing transactions

    NARCIS (Netherlands)

    Sanghavi, D.; Schmidt, C. J.

    2013-01-01

    In this article, the authors examine the dynamics of inter-company equity financing transactions and conclude that the arm’ s length principle should be applied to such transactions even if they do not result in immediate profits or losses.

  20. Using Revolving Loan Funds to Finance Energy Savings Performance Contracts in State and Local Agency Applications (Revised)

    Energy Technology Data Exchange (ETDEWEB)

    Booth, S.; Doris, E.; Knutson, D.; Regenthal, S.

    2011-07-01

    This document is meant to assist state and local decision makers in understanding how the financing of energy savings performance contract projects can effectively fit into the structure of a revolving loan fund.

  1. TP or not TP: Examining the applicability of the arm's length principle to inter-company equity financing transactions

    NARCIS (Netherlands)

    Sanghavi, D.; Schmidt, C. J.

    2013-01-01

    In this article, the authors examine the dynamics of inter-company equity financing transactions and conclude that the arm’ s length principle should be applied to such transactions even if they do not result in immediate profits or losses.

  2. Multivariate nonparametric regression and visualization with R and applications to finance

    CERN Document Server

    Klemelä, Jussi

    2014-01-01

    A modern approach to statistical learning and its applications through visualization methods With a unique and innovative presentation, Multivariate Nonparametric Regression and Visualization provides readers with the core statistical concepts to obtain complete and accurate predictions when given a set of data. Focusing on nonparametric methods to adapt to the multiple types of data generatingmechanisms, the book begins with an overview of classification and regression. The book then introduces and examines various tested and proven visualization techniques for learning samples and functio

  3. A Stroock formula for a certain class of Lévy processes and applications to finance

    Directory of Open Access Journals (Sweden)

    M. Eddahbi

    2005-01-01

    Full Text Available We find a Stroock formula in the setting of generalized chaos expansion introduced by Nualart and Schoutens for a certain class of Lévy processes, using a Malliavin-type derivative based on the chaotic approach. As applications, we get the chaotic decomposition of the local time of a simple Lévy process as well as the chaotic expansion of the price of a financial asset and of the price of a European call option. We also study the behavior of the tracking error in the discrete delta neutral hedging under both the equivalent martingale measure and the historical probability.

  4. Control Improvement for Jump-Diffusion Processes with Applications to Finance

    Energy Technology Data Exchange (ETDEWEB)

    Baeuerle, Nicole, E-mail: nicole.baeuerle@kit.edu [Karlsruhe Institute of Technology, Institute for Stochastics (Germany); Rieder, Ulrich, E-mail: ulrich.rieder@uni-ulm.de [University of Ulm, Department of Optimization and Operations Research (Germany)

    2012-02-15

    We consider stochastic control problems with jump-diffusion processes and formulate an algorithm which produces, starting from a given admissible control {pi}, a new control with a better value. If no improvement is possible, then {pi} is optimal. Such an algorithm is well-known for discrete-time Markov Decision Problems under the name Howard's policy improvement algorithm. The idea can be traced back to Bellman. Here we show with the help of martingale techniques that such an algorithm can also be formulated for stochastic control problems with jump-diffusion processes. As an application we derive some interesting results in financial portfolio optimization.

  5. Multi-factor models and signal processing techniques application to quantitative finance

    CERN Document Server

    Darolles, Serges; Jay, Emmanuelle

    2013-01-01

    With recent outbreaks of multiple large-scale financial crises, amplified by interconnected risk sources, a new paradigm of fund management has emerged. This new paradigm leverages "embedded" quantitative processes and methods to provide more transparent, adaptive, reliable and easily implemented "risk assessment-based" practices.This book surveys the most widely used factor models employed within the field of financial asset pricing. Through the concrete application of evaluating risks in the hedge fund industry, the authors demonstrate that signal processing techniques are an intere

  6. 大型机械设备融资租赁应用研究%Application of Finance Lease for the Large Mechanism Equipment

    Institute of Scientific and Technical Information of China (English)

    段清泉

    2015-01-01

    大型机械设备是许多企业生产经营的核心,融资租赁作为一种新型的金融工具,可实现融资、融物的有机结合,逐渐成为企业添置大型设备的主流方式之一。首先,分析了融资租赁的特点;其次,分析了融资租赁应用过程中存在的风险;最后,提出了企业应用融资租赁的对策建议。%The large mechanism equipment is the core of many enterprise production and business operation .As a new type of fi‐nancial tool ,finance lease can realize the combination of financing ,and it gradually becomes the mainstream of enterprise acquire large equipment .Firstly ,this paper analyzes the characteristics of finance lease ;Secondly ,the risks existing in application of fi‐nance lease are analyzed ;Finally ,this paper puts forward the suggestions on enterprise finance lease .

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

    Directory of Open Access Journals (Sweden)

    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.

  8. 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......, identify interest rate models, value bonds, estimate parameters, and much more. This textbook will help students understand and manage empirical research in financial engineering. It includes examples of how the statistical tools can be used to improve value-at-risk calculations and other issues...

  9. Statistics for Finance

    DEFF Research Database (Denmark)

    Lindström, Erik; Madsen, Henrik; Nielsen, Jan Nygaard

    that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical......, identify interest rate models, value bonds, estimate parameters, and much more. This textbook will help students understand and manage empirical research in financial engineering. It includes examples of how the statistical tools can be used to improve value-at-risk calculations and other issues......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...

  10. 31 CFR 337.12 - Applicability of TREASURY DIRECT regulations.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Applicability of TREASURY DIRECT regulations. 337.12 Section 337.12 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE PUBLIC DEBT SUPPLEMENTAL...

  11. 31 CFR 337.1 - Applicability of Treasury regulations.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Applicability of Treasury regulations. 337.1 Section 337.1 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE PUBLIC DEBT SUPPLEMENTAL REGULATIONS...

  12. 31 CFR 306.0 - Applicability of regulations.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Applicability of regulations. 306.0 Section 306.0 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE PUBLIC DEBT GENERAL REGULATIONS GOVERNING...

  13. Conceptual Framework and Recent Trends in Project Financing

    OpenAIRE

    Dr Sunil Kumar,

    2012-01-01

    Project financing is a non-recourse financing which provides leverage, contractual structure, creates a special purpose vehicle and considers the revenue generated by the project not the general assets of the business at the time of financing. Project financingtechnique is prominently used for mines, toll road, pipeline, power station, hospital and other infrastructure projects. Past studies show that the Public-Private-Partnership, Take-out Finance, BondFinance, Securitisation, Viability Gap...

  14. Problems and Recommendations for Performance Management of Public Finance%公共财政绩效管理中存在的问题及建议

    Institute of Scientific and Technical Information of China (English)

    黄盛祥

    2011-01-01

    为提高公共资源配置效率和财政资金使用效益,我国推行以部门预算、政府采购、绩效评价、国库集中支付制度为主要内容的预算体制改革。随着我国部门预算改革的不断深入,部门预算管理制度日趋完善,改革的成效正逐步显现,但是在实践中仍然存在一些问题,需要进一步改革和完善。对此,针对其中绩效管理存在的问题进行分析,提出进一步完善绩效评价的建议。%To improve efficiency of public resources allocation and effective use of finances,China is implementing the reform of the government procurement,performance evaluation,treasury centralized payment system as the main content of the budget system.Along wit

  15. 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.

  16. Promotion Stimulation, Land Finance and Equalization of Public Education Service%晋升激励、土地财政与公共教育均等化

    Institute of Scientific and Technical Information of China (English)

    李勇刚; 高波; 王璟

    2012-01-01

    In the background of the championship of the local official promotion mechanism,this paper analgzes the promotion stimulation of the local government and land finance influencing the equalization of basic public education service.And then the authors use the variable coefficient and deviation degree to measure regional difference of the basic public education service.Based on the panel data of Chinese 31 provinces from 1999 to 2009,the paper uses estimated method of dynamic panel GMM to test the effect of promotion stimulation and land financial on the equalization of basic public education service.The result shows the land financial aggravates the regional gap of the basic public education service;the promotion stimulation reduces the regional gap of the per capita education spending and the teacher-student ratio of the average elementary school,but expands the regional gap of the teacher-student ratio of the secondary school;the transfer payment reduces the regional gap of the per capita education expending,but not reducing the regional gap of the teacher-student ratio of the average middle and primary school.%在地方官员"晋升锦标赛"的背景下,分析了晋升激励和土地财政对公共教育均等化的影响,利用变异系数和偏离度两个指标测度公共教育的地区差距,基于我国31个省、区、市1999~2009年的面板数据,运用系统GMM估计方法,检验了晋升激励和土地财政对公共教育地区差距的影响。结果显示:土地财政加剧了公共教育地区差距的扩大;晋升激励缩小了人均教育支出的地区差距,但扩大了普通中小学师生比的地区差距;转移支付缩小了人均教育支出的地区差距,但导致了普通中小学师生比地区差距的扩大。

  17. Misrepresentation of publications among radiation oncology residency applicants.

    Science.gov (United States)

    Yang, Gary Y; Schoenwetter, Mary F; Wagner, Timothy D; Donohue, Kathleen A; Kuettel, Michael R

    2006-04-01

    Authorship misrepresentations have been described for residency and fellowship applications for various medical specialties. This study assessed the prevalence of misrepresented publications in radiation oncology residency applications. The authors reviewed 117 applications to their residency program for a single 2004 position offered through the National Resident Matching Program. Publications listed on the applications were verified for accuracy, with the results and applicants' demographic information recorded. A total of 49 applicants (42%) claimed authorship of published research citations. The number of published citations averaged 3.6 per applicant (range, 1-23). Of the applicants reporting citations, 22% (11 of 49) listed inaccurate citation information. Overall, 9% of the citations (15 of 174) were considered misrepresentations, with 9% of the total number of applicants (11 of 117) responsible for inaccurate bibliographies. There was a significant relationship of United States Medical Licensing Examination score with publication misrepresentation, in which those with scores of 235 or greater who listed publications were more than 7 times more likely to have inaccurately listed citations (odds ratio, 7.67; 95% confidence interval, 1.12-52.31; P = .04). The misrepresentation of bibliographic citations does exist among radiation oncology residency applicants. Using a comprehensive search, the authors found that 22% of those who had listed at least 1 article had misrepresented publications on their applications.

  18. Nationwide study of publication misrepresentation in applicants to residency.

    Science.gov (United States)

    Sater, Lara; Schwartz, Joseph S; Coupland, Sarah; Young, Meredith; Nguyen, Lily H P

    2015-06-01

    This study was conducted to assess the prevalence of research publication misrepresentation amongst Canadian Resident Matching Service (CaRMS) applicants to a single surgical subspecialty residency as a potential means of assessing professional behaviour. The authors reviewed CaRMS application forms to Canadian otolaryngology residency programmes over a 3-year period (2006-2008) for peer-reviewed publications reported as 'published', 'accepted' and 'in press'. Citations were verified by searching PubMed, Google Scholar and electronic journals. Misrepresentation was defined as any of: (i) falsely claimed authorship of an existing article; (ii) claimed authorship of a non-existing article, and (iii) improper ordering of authorship. Outcomes included descriptive statistics, as well as sub-analyses pertaining to age, gender, affiliated medical school and academic degree, and number of publications per applicant. A total of 427 peer-reviewed publications were reported by 124 of 182 applicants (68% of applicants reported at least one publication). Of the 385 verifiable publications, 47 (12% of articles) were misrepresented by 29 applicants (23% of applicants claiming publication) self-reporting at least one publication. Age, gender, location of medical training, prior academic degree and number of citations per applicant did not relate to likelihood of misrepresentation (p > 0.05). This study documents the nationwide prevalence of publication misrepresentation amongst applicants to Canadian otolaryngology residency programmes. The high rate of misrepresentation aligns with data reported in the literature and highlights the need to institute measures to dissuade graduates from this form of unprofessional behaviour. © 2015 John Wiley & Sons Ltd.

  19. 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.

  20. Optimal Assignment Problem Applications of Finite Mathematics to Business and Economics. [and] Difference Equations with Applications. Applications of Difference Equations to Economics and Social Sciences. [and] Selected Applications of Mathematics to Finance and Investment. Applications of Elementary Algebra to Finance. [and] Force of Interest. Applications of Calculus to Finance. UMAP Units 317, 322, 381, 382.

    Science.gov (United States)

    Gale, David; And Others

    Four units make up the contents of this document. The first examines applications of finite mathematics to business and economies. The user is expected to learn the method of optimization in optimal assignment problems. The second module presents applications of difference equations to economics and social sciences, and shows how to: 1) interpret…

  1. Changes Of The Concept Of State Finance And Subjects In Sustainability Context

    Directory of Open Access Journals (Sweden)

    Gintaras Èernius

    2012-09-01

    Full Text Available In a face of global financial crisis that is currently shaking the world, the issue what is the role of a state in its finance management and how  each state influences, or can influence, its finance is extremely relevant.The objective of  this research is to  identify whether the contemporary approach to public finance and its subjects is suitable  for the effective  financial  management at a state level in present conditions. In order to reach the objective, the research shall examine how the contemporary approach to finance limits possibilities of its management; form new concept of state finance involving private and public finance; and define how  the application of  new, broader, social partnership based approach, might  change financial relationship between a state, citizens, and companies, and how   practical  application  of  this  new approach  might contribute to financial stability of a state. Practical application of the research results would  allow saving 2­4  percent on the interest rates for state loans, create better conditions for the development of state economy, and increase financial sustainability of a state.

  2. Medical savings accounts - in search of an alternative method of health care financing in European countries

    Directory of Open Access Journals (Sweden)

    Marta Borda

    2011-09-01

    Full Text Available In times of increasing health care expenditure and insufficient cover provided by publicly financed health systems additional, alternative methods of health care financing become more and more considerable. The purpose of the paper is to present the concept of Medical Savings Accounts (MSAs and possibilities of their application in the health care systems of European countries. First, the author describes the idea of MSAs and reviews positive and negative findings about the effects of implementing this method into the health systems. Next, two main approaches to the application of MSAs in health care financing are considered. In the last part of the paper, the possibilities of introducing MSAs into health care systems in European countries are discussed. The author takes into consideration the existing health care financing conditions and other specific institutional, socio-economic and cultural factors as the main determinants for successful designing and implementation of the MSA scheme in a given country.

  3. Win-win finance

    Energy Technology Data Exchange (ETDEWEB)

    Panayotou, T.

    1997-07-01

    Sustainable development is grossly underfinanced. It will continue to be so, because the world is relying on conventional means to finance an unconventional idea. Official development assistance fell from 60 billion dollars in 1992 to 55 billion dollars in 1995 (in constant 1994 prices). The public sector in developing countries is underinvesting in environmental sustainability because of severe budget constraints, public sector deficits and more pressing expenditure needs. So is the private sector because, under prevailing institutional arrangements, it cannot recover costs and earn a decent rate of return from providing public goods. Other means of mobilising resources must be found. Such measures may include: phasing out subsidies, demand-scale management, better capture of resource vents, improved definition and security of property rights, and environmentally based taxation. Coal and petroleum based projects are frequently effectively subsidised. For sustainability energy efficiency measures should be subsidised, and energy consumption taxed. Increased use of economic instruments should be encouraged. 2 photos.

  4. Drinking Water Mapping Application (DWMA) - Public Version

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Drinking Water Mapping Application (DWMA) is a web-based geographic information system (GIS) that enhances the capabilities to identify major contaminant risks...

  5. Drinking Water Mapping Application (DWMA) - Public Version

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Drinking Water Mapping Application (DWMA) is a web-based geographic information system (GIS) that enhances the capabilities to identify major contaminant risks...

  6. Cross-Cutting public policy requirements applicable to federal grants

    Science.gov (United States)

    There are cross-cutting public policy requirements applicable to Federal grants, including those awarded by the EPA. Some of those requirements are included here because they have been part of appropriations acts for several years without change.

  7. Application and Effectiveness of New Public Management in ...

    African Journals Online (AJOL)

    ... for the adoption of market-oriented approaches to the provision of social services. ... corporation's management typifies the application of these principles and, if it does, ... Key words: NPM; Customer satisfaction; NWSC; Public sector reform ...

  8. 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...... on housing is considered as one of the reasons for introducing private housing finance....

  9. 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.

  10. 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.

  11. 77 FR 16048 - Notice of Submission of Proposed Information Collection to OMB Public/Private Partnerships for...

    Science.gov (United States)

    2012-03-19

    ... public housing prior to a financial closing and the start of construction or rehabilitation activities. Applicants describe ownership, the type, size, and number of units, construction schedule, construction and..., construction schedule, construction and permanent financing, property management, how public housing...

  12. 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...

  13. Operationalizing Counter Threat Finance Strategies

    Science.gov (United States)

    2014-12-01

    4, 2011, p. 359. 29. F. N. Baldwin , “The Financing of Terror in the Age of the Internet: Wilful Blindness, Greed or a Political Statement?” Jour...Jr. Director of Research Dr. Steven K. Metz Author Dr. Shima D. Keene Editor for Production Dr. James G. Pierce Publications Assistant Ms. Rita A

  14. Raising financing through strategic timing

    Science.gov (United States)

    Maine, Elicia; Thomas, V. J.

    2017-02-01

    Strategic timing can be key for nano-drug-delivery ventures to get financing. Timely publications engage potential partners; early broad, blocking, relevant patents demonstrate the potential to appropriate value; and venture formation closer to clinical viability better aligns its timeline with that of venture capitalists.

  15. Discussion on financing methods for establishing ecological public welfare forest in Jilin Province%关于吉林省地方公益林建设融资方式的探讨

    Institute of Scientific and Technical Information of China (English)

    曹玉林; 唐允森; 王军繁

    2009-01-01

    生态公益林建设的资金来源一直依赖于政府的财政投入,如何吸引非国有资本投入到生态公益林项目的建设中,成为需要探讨的新课题.本文结合生态公益林建设的具体特点,提出把BOT、PPP、TOT、PFI等目前国际新兴的基础设施项目融资方式,应用到地方生态公益林建设项目中,以缓解财政资金投入压力,加快吉林省生态环境建设的步伐.%The capital sources for establishing ecological public welfare forest have relied on government investment for a long time. How to attract the non-government capital for construction of the ecological public welfare forest project becomes an interesting topic. Considering the specific characteristics of ecological public welfare forest construction, we proposed that international emerging financing methods of infrastructure project such as build operate transfer (BOT), public private partnership (PPP), transfer operate transfer (TOT), private finance initiative (PFI) can be adopted in the local ecological public welfare forest construction, so as to alleviates the pressure of government investment and speeds up the step of ecological environment construction in Jilin Province.

  16. 公共财政扶持民办高等教育政策研究%On the Supportive Policy on Non-Governmental Higher Education by Perfecting Public Finance

    Institute of Scientific and Technical Information of China (English)

    巩丽霞

    2012-01-01

    In the supportive policy on non-governmental higher education by perfecting public finance, we should provide the students in poverty-stricken area with special support enabling them to gain the equal opportunity of higher education in terms of their potential and efforts. In this way, the public finance can make more contribution to promoting equalization of university entrance opportunities, thus making full use of finance, further achieving education value and keeping balance between equality and efficiency.%在健全公共财政对民办高等教育的扶持政策中,其中有关贫困地区农村生源的特别资助需重点关注,这关系到这一群体能否获得接受高等教育平等机会,以及公共财政在推进高等教育供给均等化方面能否发挥积极的作用。

  17. Application of SharePoint Portal Technologies in Public Enterprises

    Directory of Open Access Journals (Sweden)

    Dragan Đokić

    2015-03-01

    Full Text Available Nowadays, systematic reforms are realized acrossmany countries. One of the characteristics of these reforms is necessity for rationalization of expenses in governmental and public enterprises. Rationalization of expenses can be achieved by more extensive application of information and communication technologies based on internet technologies and cloud computing. These systems include huge number of services, applications, resources, users and roles. At the same time, concepts of scalability, availability, ubiquity and pervasiveness need to be applied. This paper deals with application of portal technologies for enhanced content management, document management, and collaboration within public enterprises. The goal is to achieve efficient exchange of information on all hierarchical levels, as well as mechanisms of reporting and performance measurements, such as business intelligence and key performance indicators. The model is based on SharePoint portal technologies. A case study of application within the public enterprise Post of Serbia is described.

  18. 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.

  19. BOUNDARY FIRST CROSSING PROBABILITY AND ITS APPLICATION IN FINANCE%首次穿过边界概率及其在金融中的应用

    Institute of Scientific and Technical Information of China (English)

    薛明皋; 龚朴

    2004-01-01

    本文把数学和管理科学有机结合,为数学应用提出问题,得出新结果,推广了J.Michel Harrison(1985)[1]第43页的命题27,并给出了在金融中的应用.%The paper combines mathematics with management science in order to put new questions of mathematical application, and get the new results. Proposition(27) in Harrison's (1985)[1] (P. 43) is generalized, which can be applied so the investment analysis in finance.

  20. Education and the Private Finance Initiative

    Science.gov (United States)

    Griggs, Clive

    2010-01-01

    This article reviews the development of Private Finance Initiative schemes in the United Kingdom, and reflects on how profitable opportunities for private financiers and construction companies were created at the expense of the public sector. (Contains 72 notes.)

  1. Education and the Private Finance Initiative

    Science.gov (United States)

    Griggs, Clive

    2010-01-01

    This article reviews the development of Private Finance Initiative schemes in the United Kingdom, and reflects on how profitable opportunities for private financiers and construction companies were created at the expense of the public sector. (Contains 72 notes.)

  2. 78 FR 8587 - Thomson Reuters, Finance Operations & Technology Division, Including On-Site Leased Workers From...

    Science.gov (United States)

    2013-02-06

    ... Employment and Training Administration Thomson Reuters, Finance Operations & Technology Division, Including... Worker Adjustment Assistance on August 2, 2012, applicable to workers of Thomson Reuters, Finance... that workers of Thomson Reuters, Finance Operations & Technology Division, including on-site...

  3. 公共租赁住房REITs融资模式及其盈利能力研究%Study on the Financing Model of the REITs in Public Rental Housing and Its Profit Ability

    Institute of Scientific and Technical Information of China (English)

    刘晓霞; 刘志杰

    2013-01-01

      公共租赁住房已成为我国保障性住房体系的中坚力量,因其资金需求量大,融资渠道狭窄,面临着资金短缺问题。从国内外成熟的REITs经验出发,重点探讨了以REITs基金组织为主体的公共租赁住房REITs融资模式运作流程,同时,通过内部收益率的计算,分析公共租赁住房采用REITs融资的经济可行性,并以大连市为例,进行了实证分析,突出了政府补贴在公共租赁住房REITs融资中的重要性,最后提出了税收优惠、政府补贴等实行REITs融资的政府激励措施。%Public rental housing has become the most important part of indemnificatory housing system,but it faces the funds shortage because of the high demand and lack of financing channels. The paper starts with reference of REITs financing model at home and abroad,the operation process of REITs financing model is discussed in public rental housing,and the economic feasibility is analyzed by IRR. Then the model is proved by Dalian city,and the importance of government subsidy is highlighted in the model. At last,the paper proposes the incentive mechanism of the government used in REITs financing model.

  4. APPLICABILITY OF CERTAIN PUBLIC MARKETING INSTRUMENTS IN THE PROMOTION OF PUBLIC POLICIES

    Directory of Open Access Journals (Sweden)

    Tatiana-Camelia DOGARU

    2012-01-01

    Full Text Available All governments are judged depending he results supplied to society (more children educated, trains more on time, population health, but also on how well it supplies these results. The impulse towards promoting public policies, and the main motivation of the fact that they represent the core of the governmental activities, is found in the tension between the free market and the public sector. Promoting public policies derived from the need to earn the citizens’ support for implementing public policies. The paper objectives are: understanding the public marketing instruments and the analysis of the applicability of public marketing to public administration, of marketing instruments in promoting public policies. The general context of the work refers to marketing instruments, as object and subject of influence for the public policies process, knowing that marketing techniques have a considerable potential for facilitating the acceptance of public policies and of the programs meant for their implementation. In view of reaching the objectives of this paper, we used bibliographic research, the qualitative research and document analysis, as central data collection methods.

  5. Risk Control of Local Debt Financing --An Analysis from the Land Public Finance Perspective%地方政府债务融资的风险控制——基于土地财政视角的分析

    Institute of Scientific and Technical Information of China (English)

    何杨; 满燕云

    2012-01-01

    地方政府的债务融资对发展中国家的城市化进程具有非常重大的意义,但是在债务融资的过程中必须控制地方政府的债务风险。我国地方政府高度依赖土地出让收入偿债使得土地财政的风险与地方债务的风险交织在一起,增加了地方政府债务风险控制的难度。本文对地方政府债务融资的运行情况和地方政府依靠土地经营城市的发展模式进行了分析,发现以土地为杠杆借债融资的模式可能由于国内外经济形势的变化暴露出显性风险,而在完善地方政府债务融资的法律和监管机制的同时需要启动相应的财政和税收体制改革,使地方政府的融资行为走上更加理性和规范的道路。%Although the debt finance of local governments has significant meanings for the urbanization of developing countries, the risk control during this process is fundamentally important. The highly rely on land transfer revenue to pay for the debt mixes the risks in public finance with risks in local debt and makes it even harder to control local debt risk. This paper analyzes the performance of local debt finance and the land-based urbanization. It points out the significant risk under this mechanism because of the changing domestic and international economic situation. The path to regulate the local debt finance should combine with the public finance and tax reform.

  6. Public Funding for Private Schools: The Current Landscape. "A Reflection on the 2013 Catholic Higher Education Collaborative Conference on Catholic School Financing"

    Science.gov (United States)

    Mulaney, Ellen

    2014-01-01

    On September 22-24, 2013, the University of Notre Dame's Institute for Catholic Education hosted a conference on Catholic school financing on the Notre Dame campus, which drew experts on the subject from across the United States. This author, because of her roles as a Board Member of the Board of Catholic Schools of the Archdiocese of…

  7. Automating Finance

    Science.gov (United States)

    Moore, John

    2007-01-01

    In past years, higher education's financial management side has been riddled with manual processes and aging mainframe applications. This article discusses schools which had taken advantage of an array of technologies that automate billing, payment processing, and refund processing in the case of overpayment. The investments are well worth it:…

  8. Financiamento da saúde pública no Brasil: a experiência do Siops Public health financing in Brazil: the Siops experience

    Directory of Open Access Journals (Sweden)

    Hugo Vocurca Teixeira

    2003-01-01

    Full Text Available Este artigo apresenta características do Sistema de Informações sobre Orçamentos Públicos de Saúde (Siops, tece breves comentários sobre a estratégia de coleta e os dados coletados, e exemplifica algumas de suas potencialidades como instrumento de apoio à gestão. O Siops reúne informações sobre o financiamento e o gasto com saúde pública dos municípios, dos estados e da União, constituindo-se em banco de dados único no âmbito das políticas sociais no Brasil. Produzindo informações com regularidade e com qualidade crescente, o sistema conforma-se como uma importante fonte de dados para a realização de estudos pelas instituições de pesquisa, para o exercício do acompanhamento e fiscalização pelos órgãos de controle e para a gestão e avaliação das ações no âmbito do Sistema Único de Saúde. Tais informações podem viabilizar o aprimoramento da gestão, a disseminação de experiências bem-sucedidas entre os entes federados, e a adequada distribuição dos gastos entre investimento e custeio e entre as esferas governamentais, tendo em vista o dimensionamento das redes de atenção, dentre outras questões.This article presents information about public budgets for a health system, called SIOPS, and it's basic features. It briefly comments a SIOPS's strategy of collect data, and it exemplifies some of it's potential as an instrument for helping health management. SIOPS focuses on information about the financing and expenses of public health in municipalities, states and in the Union, being therefore a unique data bank in the social policy field in Brazil. The data bank is growing on a steady basis and is as well improving in terms of information reliability. It produces information increasing in regularity and quality. The SIOPS is presented as an important data source for researches of health policies, as an instrument for control agencies to exert the attendance and fiscal inspection, and as an instrument for

  9. The analysis on trust financing in public hospitals under stakeholder theory%基于利益相关者理论的公立医院信托融资分析

    Institute of Scientific and Technical Information of China (English)

    李志光; 梁宁霞; 赵俊; 王虹

    2014-01-01

    运用利益相关者理论分析了在公立医院信托融资中各利益相关者的利益、所拥有的资源,评价了其动用资源的能力以及可能对筹资过程的影响,探究了信托融资过程中各方的动力、阻力以及相互作用机制、利益调整机制,并提出相应建议对策。%This paper analyzes the interests and resources among various stakeholders in public hospitals trust financing by the stakeholder theory. It also evaluates the ability of stakeholders to use resources and the possible impact on the financing process. Finally, this paper explores the motivation of the parties, the resistance, the interaction mechanism, and interest adjustment mechanism in the process of trust financing, and make recommendations accordingly countermeasures.

  10. Publication misrepresentation among neurosurgery residency applicants: an increasing problem.

    Science.gov (United States)

    Kistka, Heather M; Nayeri, Arash; Wang, Li; Dow, Jamie; Chandrasekhar, Rameela; Chambless, Lola B

    2016-01-01

    OBJECT Misrepresentation of scholarly achievements is a recognized phenomenon, well documented in numerous fields, yet the accuracy of reporting remains dependent on the honor principle. Therefore, honest self-reporting is of paramount importance to maintain scientific integrity in neurosurgery. The authors had observed a trend toward increasing numbers of publications among applicants for neurosurgery residency at Vanderbilt University and undertook this study to determine whether this change was a result of increased academic productivity, inflated reporting, or both. They also aimed to identify application variables associated with inaccurate citations. METHODS The authors retrospectively reviewed the residency applications submitted to their neurosurgery department in 2006 (n = 148) and 2012 (n = 194). The applications from 2006 were made via SF Match and those from 2012 were made using the Electronic Residency Application Service. Publications reported as "accepted" or "in press" were verified via online search of Google Scholar, PubMed, journal websites, and direct journal contact. Works were considered misrepresented if they did not exist, incorrectly listed the applicant as first author, or were incorrectly listed as peer reviewed or published in a printed journal rather than an online only or non-peer-reviewed publication. Demographic data were collected, including applicant sex, medical school ranking and country, advanced degrees, Alpha Omega Alpha membership, and USMLE Step 1 score. Zero-inflated negative binomial regression was used to identify predictors of misrepresentation. RESULTS Using univariate analysis, between 2006 and 2012 the percentage of applicants reporting published works increased significantly (47% vs 97%, p misrepresentations (33% vs 45%) also increased. In 2012, applicants with a greater total of reported works (p Misrepresentation is more common in applicants from unranked US medical schools and those with a greater number of

  11. 公共财政与财税法律制度的构建%Public Finance and the Establishment of Legal System of the Fiscal and Tax

    Institute of Scientific and Technical Information of China (English)

    刘剑文

    2012-01-01

    Public finance is the foundation stone to establish the system of fiscal and tax law. The core of public finance is to suffice the public demand of society and its essence is to empower the taxpayers to participate in de- cisions, management and supervision of the governmental economic activities. With a view of promoting and refining the legal system of fiscal and tax law, we should highlight the principle of fiscal democracy, fiscal legitimacy, fiscal equity as well as the fiscal stability and in turn to realize the harmony of the system of fiscal and tax law.%公共财政是构建财税法律制度的基石。公共财政的核心,是满足社会公共之需要,其本质是纳税人有权在国家经济活动中参与决策、参与管理、参与监督。推进和完善财税法律制度建设,应当重视财政民主、财政法定、财政平等、财政健全等原则,从而实现财税法律制度的和谐。

  12. Study on the Strategy of Public Finance Supporting Non-governmental Higher Education in Guangdong Province%广东省公共财政支持民办高等教育的对策研究

    Institute of Scientific and Technical Information of China (English)

    毕会东

    2016-01-01

    建立健全民办高等教育公共财政扶持体系,是当前促进广东民办高等教育健康发展的有力抓手。政府加大对民办高校的公共财政支持力度,是解决广东民办高校发展瓶颈的关键,也是实现教育公平和社会公平的有效途径。文章从公共财政支持民办教育的政策出发,阐述公共财政支持广东民办高等教育的必要性与可行性,并从直接支持和间接支持两方面分析广东省公共财政支持民办高等教育发展的现状,进而提出加强广东省公共财政支持民办高等教育的建议。%Establishing and improving public finance supporting system for non-governmental higher education is an important mean to promote the scientific development of non-governmental higher education in Guangdong .Using public finance intervention and increasing support by the government for non-governmental higher education is the key to effectively solve the existing prob-lems of non-governmental higher education in Guangdong , and is an effective way to truly realize education and social fairness . From the policy angle of using public finance for supporting non-governmental education , this paper expounds its necessity and feasibility in Guangdong Province , and in accordance to the two aspects of “direct support” and “indirect support”, it analyzes the current development status .From multiple angles of increasing financial aid , exploring student number based funding , and direct funding teachers and students it proposes the strategies and recommendations for public finance support of non -governmental higher education in Guangdong province .

  13. 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.

  14. SME Finance in Africa

    OpenAIRE

    Beck, T.; Cull, R

    2014-01-01

    This paper uses cross-country firm-level surveys to gauge access to financial services and the importance of financing constraints for African enterprises. The paper compares access to finance in Africa and other developing regions of the world, within Africa across countries, and across different groups of firms. It relates firms' access to finance to firm and banking system characteristi...

  15. 77 FR 21145 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-04-09

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air..., Inc. (``People Express'') requesting a certificate of public convenience and necessity...

  16. 76 FR 54524 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-09-01

    ... TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and... August 20, 2011 The following Applications for Certificates of Public Convenience and Necessity and..., Inc. (``Universal'') requesting a certificate of public convenience and necessity...

  17. 76 FR 10429 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-02-24

    ... TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and... February 12, 2011 The following Applications for Certificates of Public Convenience and Necessity and... certificate of public convenience and necessity authorizing interstate charter air transportation....

  18. Water Finance Forum-Texas

    Science.gov (United States)

    Regional Finance Forum: Financing Resilient and Sustainable Water Infrastructure, held in Addison, Texas, September 10-11, 2015.Co-sponsored by EPA's Water Infrastructure and Resiliency Finance Center and the Environmental Finance Center Network.

  19. 37 CFR 1.215 - Patent application publication.

    Science.gov (United States)

    2010-07-01

    ... 37 Patents, Trademarks, and Copyrights 1 2010-07-01 2010-07-01 false Patent application publication. 1.215 Section 1.215 Patents, Trademarks, and Copyrights UNITED STATES PATENT AND TRADEMARK OFFICE, DEPARTMENT OF COMMERCE GENERAL RULES OF PRACTICE IN PATENT CASES National Processing Provisions...

  20. Conceptual Framework and Recent Trends in Project Financing

    Directory of Open Access Journals (Sweden)

    Dr. Sunil Kumar

    2012-06-01

    Full Text Available Project financing is a non-recourse financing which provides leverage, contractual structure, creates a special purpose vehicle and considers the revenue generated by the project not the general assets of the business at the time of financing. Project financingtechnique is prominently used for mines, toll road, pipeline, power station, hospital and other infrastructure projects. Past studies show that the Public-Private-Partnership, Take-out Finance, BondFinance, Securitisation, Viability Gap Funding, and Infrastructure SPV are the prominent project finance structures being used now a day. The foremost advantage of project financing is that it is a nonrecourse financing which results in high leverage for the firms. It also helps in distributing the risk and provides efficient returns in comparison to conventional financing techniques. The shortcoming of project financing is that it is a time consumingprocess which is relatively expensive. Also, the transactions of project financing are very complex in comparison to traditional corporate financing. With the impact of privatization, deregulation and spread of globalisation project finance has emerged as a keyfinancing technique throughout the world. A year wise analysis of the project finance investment shows that in the year 2004 project finance investment rose by 466.59% over 1994. Region-wise analysis ofproject financing in the world shows that Western Europe and North America contributed nearly 53% of the total investments in the year 2000 but it was reduced to 36% only by the year 2004. Sector-wiseanalysis shows that Power sector accounted for maximum project finance followed by Infrastructure, Oil & Gas, Petrochemicals and Telecom etc. The study further reveals that project finance is catching up steadily in India because of emphasis given toinfrastructure given to infrastructure by the government. At present nearly 300 PPP projects are going on in the country.

  1. 知识产权质押融资在糖业的应用探讨%Application of Intellectual Property Right of Pledge Financing in Sugar Industry

    Institute of Scientific and Technical Information of China (English)

    丘志乔; 蓝艳华

    2012-01-01

    糖业在我国是继粮、棉、油之后重要的农业行业之一。制糖企业和其它行业的许多企业一样,面临融资需求。我国正在进行知识产权质押融资试点,但是,糖业领域的应用尚未有实践的先例。本文探讨糖业应用知识产权质押融资的可行性与必要性,并且提出了相应的实施思路和若干具体建议。%The sugar industry is one of the important agriculture after grain, cotton and oil in our country. Sugar enterprises are facing financial demands as other industrial enterprises. China is making a pilot project on intellectual property rights of pledge financing at selected cities, but there has not been a precedent practice for the sugar industry. This paper discusses the feasibility and necessity of the application on intellectual property right of pledge financing in sugar industry. It also presents the practical ideas and a number of specific measures and recommendations.

  2. Influence of provision of rural public goods financing through market participants for farmer's income%市场提供农村公共产品对农户收入的影响分析

    Institute of Scientific and Technical Information of China (English)

    史耀波

    2012-01-01

    What kind of influence that provision of rural public goods financing through market participants in rural areas on the welfare of farmers? What is the influence mechanism of it? This paper on the Background of the abolition of agricultural tax in China, through the construction of production and consume model, analysis the mechanism and effects of rural public goods to farmers' income and utility separately. By using 400 households survey data of five counties inShaanxi province, empirical analysis find that provision of public goods financing through market sources have a significant positive effect on household's income. So the paper suggested the central government to increase public investment in rural areas,while the township government should create more channels help the provision of rural public goods financing through market participants, thus achieve more investors involving in the supply of public goods in rural areas%为探讨通过市场筹资渠道提供的公共产品对农户收入产生的影响及其影响机制,通过构建生产模型和消费模型,分别从农户收入和农户效用(公共产品消费)两方面揭示农村公共产品市场化供给对农户福利的影响机制,并采用陕西5个县20个村400户农户调研数据进行分析,发现市场提供的公共产品对农户收入有显著的正面效应。因此,建议中央政府在加大对农村的公共投资力度的同时,乡镇政府应创造市场筹资提供农村公共产品的更多渠道,实现农村公共产品供给的筹资多元化。

  3. Public Corporation Management,Finance Scale and Irrigation Facilities%公法人管理和公共财政规模对农田灌溉设施的影响

    Institute of Scientific and Technical Information of China (English)

    柴盈

    2014-01-01

    在公共财政投入薄弱的条件下,公法人管理和非公法人管理都比较低效,但是前者低效的原因在于政府投入不足,与自身管理无关;后者则存在严重的管理缺陷,且长期的管理绩效远远低于公法人管理。在公共财政投入充足时,公法人和非公法人管理的绩效都会有所增加,但是公法人更为有效。据此,我国新时期为实现农田有效灌溉面积的目标应该进行管理制度的公法人化改革。%If the government’s finance scale is small ,either public corporation management or non-public cor-poration is not effective in improving irrigation effects .The former is caused by insufficient input other than its management ability ,but the later is caused by its own defect and it is worse in the long run than in the short term . When there is enough finance input from the government ,public corporation management and non-public are both able to improve irrigation performance ,and the former is more effective .Therefore ,the public corporation man-agement should be carried on in order to achieve the irrigation objective for the new time .

  4. The Research on Optimizing SME Credit Guarantee System in the Perspective of Public Finance%财政视角下优化中小企业信用担保体系研究

    Institute of Scientific and Technical Information of China (English)

    刘育红

    2013-01-01

    The thesis based on the research background of government vigorously supported the SMEs credit development which was included in the financial main tasks in 2012 ,analyzed present situation ,the main existing problems and the reasons causing during a large number of preferential policies in resolving the SMEs“financing difficult”to promote the development of the SMEs credit guarantee systeem from the per-spective of public finance .Then ,it showed non-system policy support ,inadequate financial support and non-matching supporting mechanism construction were three key factors to influence the SMEs credit de-velopment ,and put forward optimizing corresponding countermeasures according to these influence fac-tors ,from perfecting the mechanism regulations ,increasing the investment of public finance ,etc .%基于我国2012年将大力扶持中小企业信用发展纳入财政工作主要任务的研究背景,文章从财政视角对大量优惠政策在化解中小企业“融资难”,推动中小企业信用担保发展过程中的现状、存在的主要问题及成因进行了分析,指出制度政策保障不系统,财政资金支持不充分,配套机制建设不到位是影响其发展的三大关键因素。优化我国中小企业信用担保体系应从优化制度政策,加大财政资金投入力度,配套措施的跟进等方面着手。

  5. Stakeholder Choices in Adaptation and Public Finance Planning for Coastal Hazard Mitigation in a Changing World: Highlights from Case Studies in Santos, Brazil, Broward County, FL, US and Selsey, UK (The METROPOLE Project)

    Science.gov (United States)

    Muller-Karger, F. E.; Merrill, S.; Pelling, M.; Marengo, J. A.; Reynolds, C. J.; Langbehn, K.; Paterson, S.; Nunes, L. H.; Kartez, J.; Lockman, J. T.

    2016-12-01

    Better integration of the human dimensions (values, beliefs, cultural identity, place, risk perceptions, communications, decision making) with scientific, technical, and economic data is required to advance effective municipal planning for adaptation to changes that can be expected to occur based on a changing climate. The international METROPOLE project offers practical insights and a path forward for coastal communities around the world with results from applied research carried out by social scientists, natural scientists, and practitioners working in coastal municipalities in Brazil, the United Kingdom, and the United States. Decision makers were interviewed to assess the Adaptive Capacity of their communities, and stakeholders were engaged in workshops to discuss the risks due to projected sea level rise (SLR) in terms of impacts and costs to property. The team investigated the social, cultural, and governance factors that shape decision making. Municipal leaders and local experts selected the SLR scenarios and adaptation options to be modelled using COAST, a state-of-the-art tool. The visualizations and risk maps integrated scientific and local economic data, and illustrated the potential impacts on 10,000 properties in each study area. Stakeholders voted on parameters to determine the cost-benefit ratio of potential adaptation options. Stakeholder priorities for local adaption planning, agreement with the need for increased fees/taxes, and acceptability of possible public finance mechanisms were evaluated with pre- and post-workshop surveys. The research identified similar patterns of adaptation "priorities" and new insight into how stakeholders consider public finance mechanisms for local action, in the context of "fiscal benefits and burdens." The research suggests implications for small towns, land-use policy changes, implementing adaptation options which deliver short and long-term benefits, and, for state and local governments to develop finance policy

  6. THE INTERCONNECTION OF THE LOCAL DEMOCRACY AND THE FINANCES OF LOCAL SELF-GOVERNMENT

    Directory of Open Access Journals (Sweden)

    Olga Sharapova

    2013-01-01

    Full Text Available In this paper the author gives a legal vision of the link between the local democracy and finances of the local self-government by comparing the legislation and its impact in France and in Russia, as well as by introducing some comparative elements with Slovenia. The analysis, made essentially on the basis of the Russian federal law n° 131-FZ and the French General Code of Territorial Entities (GCTE, reveals three main aspects of the interaction of the local democracy with local public finances: (1 direct elections of local officials and its impact on the municipal finances, (2 responsibility in front of the population of directly/indirectly elected mayors in the public finances field, (3 participation of the local population in the financial decisions. The practical influence of the legislation on the problem under scrutiny is mainly examined in the Russian case; for France there are normally predictions which are used in order to demonstrate the impact of legal dispositions, because the most of the provisions of French law n° 2010-1563, modified the GCTE concerning the local democracy or local public finances, are not still implemented or the short period of their application does not allow to assess its interconnection.

  7. What is project finance?

    Directory of Open Access Journals (Sweden)

    João M. Pinto

    2017-05-01

    Full Text Available Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market imperfections. However, project finance transactions are complex undertakings, they have higher costs of borrowing when compared to conventional financing and the negotiation of the financing and operating agreements is time-consuming. In addition to describing the economic motivation for the use of project finance, this paper provides details on project finance characteristics and players, presents the recent trends of the project finance market and provides some statistics in relation to project finance lending activity between 2000 and 2014. Statistical analysis shows that project finance loans arranged for U.S. borrowers have higher credit spreads and upfront fees, and have higher loan size to deal size ratios when compared with loans arranged for borrowers located in W.E. On the contrary, loans closed in the U.S. have a much shorter average maturity and are much less likely to be subject to currency risk and to be closed as term loans.

  8. Interaction Tasks and Controls for Public Display Applications

    Directory of Open Access Journals (Sweden)

    Jorge C. S. Cardoso

    2014-01-01

    Full Text Available Public displays are becoming increasingly interactive and a broad range of interaction mechanisms can now be used to create multiple forms of interaction. However, the lack of interaction abstractions forces each developer to create specific approaches for dealing with interaction, preventing users from building consistent expectations on how to interact across different display systems. There is a clear analogy with the early days of the graphical user interface, when a similar problem was addressed with the emergence of high-level interaction abstractions that provided consistent interaction experiences to users and shielded developers from low-level details. This work takes a first step in that same direction by uncovering interaction abstractions that may lead to the emergence of interaction controls for applications in public displays. We identify a new set of interaction tasks focused on the specificities of public displays; we characterise interaction controls that may enable those interaction tasks to be integrated into applications; we create a mapping between the high-level abstractions provided by the interaction tasks and the concrete interaction mechanisms that can be implemented by those displays. Together, these contributions constitute a step towards the emergence of programming toolkits with widgets that developers could incorporate into their public display applications.

  9. A very efficient approach to compute the first-passage probability density function in a time-changed Brownian model: Applications in finance

    Science.gov (United States)

    Ballestra, Luca Vincenzo; Pacelli, Graziella; Radi, Davide

    2016-12-01

    We propose a numerical method to compute the first-passage probability density function in a time-changed Brownian model. In particular, we derive an integral representation of such a density function in which the integrand functions must be obtained solving a system of Volterra equations of the first kind. In addition, we develop an ad-hoc numerical procedure to regularize and solve this system of integral equations. The proposed method is tested on three application problems of interest in mathematical finance, namely the calculation of the survival probability of an indebted firm, the pricing of a single-knock-out put option and the pricing of a double-knock-out put option. The results obtained reveal that the novel approach is extremely accurate and fast, and performs significantly better than the finite difference method.

  10. Naložbeni pokojninski skladi, dolgoročna vzdržnost javnih financ in finančna stabilnost v Sloveniji = Supplementary pension schemes, long-term sustaniability of public finances and financial stability in Slovenia

    Directory of Open Access Journals (Sweden)

    Aleš Berk Skok

    2011-03-01

    Full Text Available Demographic pressures urge authorities to find solutions for their publicpension systems. Supplementary (capital market based pensionschemes have become a prerequisite mechanism for avoiding povertyof nations. In this contribution we stress the need for the Sloveniangovernment to reform the existing embryonic supplementary pensionsystem, which will above all be basedon competitive principles.Besides the well funded collective pillar, we argue that governmentshould introduce individual retirement accounts which would serve asa mechanism to provide individuals with an incentive to save for theirretirement use. By accomplishing that, Slovenia would not only solvefiscal pressures stemming from the unsustainable public pension systembut would also substantially underpin underdeveloped nationalfinancial markets and institutions.

  11. APPLICATION OF VSM IN A PUBLIC BRAZILIAN HOSPITAL

    Directory of Open Access Journals (Sweden)

    Guilherme Luz Tortorella

    2015-12-01

    Full Text Available During the last decade, there has been a demand for public services to enhance management practices and attain results comparable to those experienced in the private sector. The need for achieving higher quality standards in public services has highlighted the importance of exploring new management techniques to account for the obsolescence in those organizations’ administrative models, with particular emphasis on healthcare services. This paper reports the application of one such new management technique, named Value Stream Mapping (VSM, in the sterilized unit of a public healthcare organization. We present here the benefits of analyzing healthcare processes using VSM, contributing to the existing body of knowledge on Lean management by examining the validity of applying its principles and practices in contexts other than manufacturing.

  12. The Application of NASA Technology to Public Health

    Science.gov (United States)

    Rickman, Douglas L.; Watts, C.

    2007-01-01

    NASA scientists have a history of applying technologies created to handle satellite data to human health at various spatial scales. Scientists are now engaged in multiple public health application projects that integrate NASA satellite data with measures of public health. Such integration requires overcoming disparities between the environmental and the health data. Ground based sensors, satellite imagery, model outputs and other environmental sources have inconsistent spatial and temporal distributions. The MSFC team has recognized the approach used by environmental scientists to fill in the empty places can also be applied to outcomes, exposures and similar data. A revisit to the classic epidemiology study of 1854 using modern day surface modeling and GIS technology, demonstrates how spatial technology can enhance and change the future of environmental epidemiology. Thus, NASA brings to public health, not just a set of data, but an innovative way of thinking about the data.

  13. Application of GIS technology in public health: successes and challenges.

    Science.gov (United States)

    Fletcher-Lartey, Stephanie M; Caprarelli, Graziella

    2016-04-01

    The uptake and acceptance of Geographic Information Systems (GIS) technology has increased since the early 1990s and public health applications are rapidly expanding. In this paper, we summarize the common uses of GIS technology in the public health sector, emphasizing applications related to mapping and understanding of parasitic diseases. We also present some of the success stories, and discuss the challenges that still prevent a full scope application of GIS technology in the public health context. Geographical analysis has allowed researchers to interlink health, population and environmental data, thus enabling them to evaluate and quantify relationships between health-related variables and environmental risk factors at different geographical scales. The ability to access, share and utilize satellite and remote-sensing data has made possible even wider understanding of disease processes and of their links to the environment, an important consideration in the study of parasitic diseases. For example, disease prevention and control strategies resulting from investigations conducted in a GIS environment have been applied in many areas, particularly in Africa. However, there remain several challenges to a more widespread use of GIS technology, such as: limited access to GIS infrastructure, inadequate technical and analytical skills, and uneven data availability. Opportunities exist for international collaboration to address these limitations through knowledge sharing and governance.

  14. Finance-growth nexus: Insights from an application of threshold regression model to Malaysia's dual financial system

    Directory of Open Access Journals (Sweden)

    Alaa Alaabed

    2016-06-01

    Full Text Available The purpose of this paper is to test the growing converging views regarding the destabilizing and growth-halting impact of interest-based debt financial system. The views are as advocated by the followers of Keynes and Hyman Minsky and those of Islam. Islam discourages interest rate based debt financing as it considers it not very conducive to productive activities and human solidarity. Likewise, since the onset of the crisis of 2007/2008, calls by skeptics of mainstream capitalism have been renewed. The paper applies a threshold regression model to Malaysian data and finds that the relationship between growth and financial development is non-linear. A threshold is estimated, after which credit expansion negatively impacts GDP growth. While the post-threshold negative relationship is found to be statistically significant, the estimated positive relationship at lower levels of financial development is insignificant. The findings provide support to the above views and are hoped to guide monetary authorities to better growth-promoting policy-making.

  15. 32 CFR 705.19 - Financing.

    Science.gov (United States)

    2010-07-01

    ... events and programs when they are in the primary interest of the Department of Defense: (1) Public... OFFICIAL RECORDS PUBLIC AFFAIRS REGULATIONS § 705.19 Financing. (a) The financial requirements for community relations purposes will be kept to the minimum necessary to accomplish Department of Defense...

  16. 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

  17. 中国城市公共交通运营财税可持续框架体系研究%Framework and Architecture of Sustainable Financing for Urban Public Transport in China

    Institute of Scientific and Technical Information of China (English)

    刘向龙; 许飒; 李成; 刘好德

    2015-01-01

    Under the background of the transit priority development strategy of China, the finance sus⁃tainable development problems of urban public transportation which caused by the long time low-fare policy were analyzed systematically. These problems include that the operation costs of the public transport company increased greatly as the quick growth of the salary and energy price, led to more se⁃rious losses, unsustainable urban public transport subsidies from government, the attractiveness of low-fare policy for passenger diminishing and so on, which making it more difficult to improve the quality of service effectively. To promote the building of a sustainable financing mechanism of urban public trans⁃port, the relationship between the service quality, costs, fares and financial subsidies were studied sys⁃tematically, starting from the demand of three main benefits of urban public transport, which include passengers, operation companies and government, and a service-oriented financing mechanism and ar⁃chitecture which build up the relationship with the operation costs, subsidies, price and the service qual⁃ity was pointed out, so as to support for the financing sustainable development of urban public transport in China.%在国家“公交优先”发展战略背景下,系统分析了中国大部分城市所采取的公交执行票价远低于成本票价的低票价政策,指出这种政策使得公交票价的制定与成本脱钩且长期不变,导致城市公交企业运营成本急剧攀升、企业经营难以为继、城市公共财政补贴不可持续、低票价对于客流吸引力逐渐减弱等一系列问题,进而引发公共交通服务质量难以有效提升。为构建可持续的城市公共交通运营财税机制,从城市公共交通三个利益主体即乘客、企业、政府对于公共交通的相关诉求出发,系统性研究了公共交通服务质量、成本、票价、财政补贴间的相互

  18. What is Project Finance?

    OpenAIRE

    Pinto, João

    2017-01-01

    Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market ...

  19. Digitally Financed Energy

    OpenAIRE

    Waldron, Daniel; Faz, Xavier

    2016-01-01

    The expansion of digital finance systems in the developing world has altered this financial context and enabled new business models that rely on small, regular payments. In the off-grid energy sector a group of solar companies, primarily in East Africa and South Asia, are leveraging digital finance to offer pay-as-you-go (PAYG) energy. This brief explains how digital finance is enabling PA...

  20. 地方政府公共投资融资困境、债务风险与对策%Difficulties, Debt Risks and Counter-Measures of Public Investment and Financing of Local Government

    Institute of Scientific and Technical Information of China (English)

    刘晓斌

    2014-01-01

    In China, public investment plays an important role in the process of economic and social development. However, local government’s debt risks in relevant investment are becoming a big issue of the world. On the one hand, public investment made in the past has resulted in substantial government debt, and on the other hand, it should still be essential for the government to maintain a large-scale public investment for the economic and social development. Thus it is urgent to solve the problems of difficulties in financing and debt risks. To address these problems, the government needs to transform the economic development, regulate the investment and financing, and integrate resources so as to put the risks under systematic control.%在我国经济社会发展过程中,公共投资发挥了重要的作用,但投资带来的地方政府债务风险也引起了世界的关注。一方面,我国过去的公共投资领域累积了大量的政府债务,另一方面,未来我国的经济社会发展仍需保持较大规模的公共投资。而融资困难多、债务风险大是地方政府公共投资急需解决的问题。转变经济发展方式、规范投融资行为、整合资源、分类控制,从而缓解地方政府公共投资融资困境、系统控制政府债务风险。

  1. Mobilizing private finance to drive an energy industrial revolution

    Energy Technology Data Exchange (ETDEWEB)

    Mathews, John A. [Eni Chair in Competitive Dynamics and Global Strategy, LUISS Guido Carli University, Viale Romania, 32, 00197 Roma (Italy); Kidney, Sean [ClimateRisk Ltd, London (United Kingdom); Mallon, Karl; Hughes, Mark [ClimateRisk Ltd, Sydney (Australia)

    2010-07-15

    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. (author)

  2. Threshold concepts in finance: conceptualizing the curriculum

    Science.gov (United States)

    Hoadley, Susan; Tickle, Leonie; Wood, Leigh N.; Kyng, Tim

    2015-08-01

    Graduates with well-developed capabilities in finance are invaluable to our society and in increasing demand. Universities face the challenge of designing finance programmes to develop these capabilities and the essential knowledge that underpins them. Our research responds to this challenge by identifying threshold concepts that are central to the mastery of finance and by exploring their potential for informing curriculum design and pedagogical practices to improve student outcomes. In this paper, we report the results of an online survey of finance academics at multiple institutions in Australia, Canada, New Zealand, South Africa and the United Kingdom. The outcomes of our research are recommendations for threshold concepts in finance endorsed by quantitative evidence, as well as a model of the finance curriculum incorporating finance, modelling and statistics threshold concepts. In addition, we draw conclusions about the application of threshold concept theory supported by both quantitative and qualitative evidence. Our methodology and findings have general relevance to the application of threshold concept theory as a means to investigate and inform curriculum design and delivery in higher education.

  3. Finances publiques, sorties de crise...

    OpenAIRE

    Mathieu, Catherine; Sterdyniak, Henri

    2011-01-01

    La crise financière de 2007-2009 a provoqué un fort gonflement des dettes et des déficits publics dans les pays développés. Les marchés financiers comme les institutions internationales réclament une politique de sortie de crise passant par une réduction rapide des déficits, une forte baisse du niveau des dettes, ceci grâce à une forte réduction des dépenses publiques (en particulier des dépenses sociales). L’article montre que la situation des finances publiques était globalement satisfaisan...

  4. Chapitre VI. Prudence du financement

    OpenAIRE

    Jambard, Pierre

    2015-01-01

    L’histoire financière de la société permet de comprendre bien des traits de son histoire. Comme toutes les entreprises du bâtiment et des travaux publics, la Société Auxiliaire s’est trouvée devant la nécessité de disposer d’importants capitaux circulants. Grâce à une gestion financière efficace, elle est, en général, parvenue à dégager de son activité les fonds nécessaires, bien que l’aisance de la trésorerie quotidienne n’ait été acquise qu’avec la reconversion. Les années 1927-1946 sont ce...

  5. PRIVATE FUNDS FINANCING OF EUROPEAN HIGHER EDUCATION

    Directory of Open Access Journals (Sweden)

    MARIA MĂCRIŞ

    2010-01-01

    Full Text Available Higher education plays an important part in the European society, creating knowledge applicable to society and economy, and generating the process of economic and social evolution. Higher education institutions in Europe try to modernize both at the level of the courses they offer and at the level of their acting manner; European states as well as the private agents involved try to find out new, improved means of coordinating and financing. Starting from this idea, we would like to carry out an analysis of the manner of financing European higher education out of private funds with a view to identify new financing sources.

  6. 76 FR 33400 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-06-08

    ... From the Federal Register Online via the Government Publishing Office ] DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and... May 14, 2011 The following Applications for Certificates of Public Convenience and Necessity...

  7. 76 FR 42762 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-07-19

    ... From the Federal Register Online via the Government Publishing Office ] DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and... June 25, 2011 The following Applications for Certificates of Public Convenience and Necessity...

  8. 77 FR 31421 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-05-25

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and... The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  9. 77 FR 37732 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-06-22

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and... The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  10. 77 FR 59243 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-09-26

    ... From the Federal Register Online via the Government Publishing Office ] DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and... September 1, 2012 The following Applications for Certificates of Public Convenience and Necessity...

  11. Geothermal Financing Workbook

    Energy Technology Data Exchange (ETDEWEB)

    Battocletti, E.C.

    1998-02-01

    This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)

  12. When Art & Finance Collide

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    Fine art and big finance are proving a profitable combination in China but questions of authenticity need to be addressed CHINA’S art market is on fire.As sales and prices break records,a new force has appeared in the market - organized art finance in the form of art trust funds and artwork exchanges.

  13. 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.

  14. Caring finance practices

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2013-01-01

    textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This ar

  15. Caring finance practices

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2013-01-01

    textabstractThe 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This

  16. 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

  17. 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

  18. Equity in health care financing: The case of Malaysia

    Science.gov (United States)

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

    2008-01-01

    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 can gain an in depth

  19. Debt Financing: Academia's Funding Alternative.

    Science.gov (United States)

    Baum, Rudy M.

    1981-01-01

    Discusses debt financing as a way to help universities alleviate the problems of obsolete scientific equipment and facilities for research. Reviews several forms of tax-exempt financing and takes note of some of the advantages of debt financing. (CS)

  20. Water Finance Forum - New Jersey

    Science.gov (United States)

    Presentations and materials from the Regional Finance Forum, Financing Resilient and Sustainable Water Infrastructure, held in Iselin, New Jersey, on December 2, 2015. The forum was co-sponsored by EPA's Water Infrastructure and Resiliency Finance Center,

  1. 76 FR 20435 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-04-12

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Notice of Applications for Certificates of Public Convenience and Necessity... March 5, 2011. The following Applications for Certificates of Public Convenience and Necessity...

  2. Private Housing or Alternative Financing?

    Science.gov (United States)

    Bruno, Nick

    1999-01-01

    Explores the history of privatizing university housing and some current financing options, including use of developer and private foundations. Examples of successful alternative financing methods are highlighted. (GR)

  3. Finance reform under local integration

    Directory of Open Access Journals (Sweden)

    S. S. Seryohin

    2016-06-01

    Full Text Available Abstract Revealed the essence of local finance manifested in economic relations, and their structure is a combination of local budgets, special purpose budget funds; budget funds of local governments; public funds of funds banks if their share capital formed at the expense of local governments; fund municipal enterprises, institutions and organizations. The analysis on fundamental scientific research on local budgets.Defined-purpose local governments.Systematized theoretical definition of municipal finances. Formed impact of reform of local finance to ensure the improvement of socio-economic status of the region to the European Union for more confident of Ukraine’s integration into Europe. Found that implementing fiscal policy in terms of spending, local authorities are guided by the priorities of socio-economic development of the region or administrative unit in line with national principles defined government policy document. Discovered topical issues of local budgets as the existence of significant differences in the regulatory and legislative framework - the excessive centralization of local budgets unstable sources of local revenues inadequacy of intergovernmental relations. It was found that to radically change the existing system of functioning of local budgets, as required considerable time gap and improving the theoretical and methodological and regulatory framework of the local budgets.

  4. Light mobility applications towards public education and research

    Energy Technology Data Exchange (ETDEWEB)

    Ceviz, Y.; Eroglu, M.; Akfidan, T.; Altinel, S.; Yazici, M.S. [UNIDO-ICHET - International Centre for Hydrogen Energy Technologies, Istanbul (Turkey)

    2010-07-01

    International Center for Hydrogen Energy Technologies (ICHET) has been implementing measures to demonstrate potential benefits of the ''hydrogen and fuel cell systems'' in developing countries. As part of applied R and D activities, various prototype vehicles (a small tri-wheel scooter, a four-passenger cart integrated with a 2 kW fuel cell, a mobile caravan with wind, solar and fuel cell power and a forklift with the necessary fuelling options and controls) were demonstrated utilizing hydrogen as fuel. Performance analysis, sizing of the various system components and modeling will be carried out as part of applied R and D program. A long-term objective of the projects is to push for use of fuel cell powered light mobile vehicles in public places and encourage local industry to manufacturer similar vehicles and explore market potential for such use. As a benefit of this activity, public awareness on applications of renewable and fuel cell technologies will increase and viability of such systems will be demonstrated to change public perception. (orig.)

  5. 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 ...

  6. Public Sector Application of Real Estate Analysis and Finance Techniques. A Feasibility Study for Military Family Housing.

    Science.gov (United States)

    1994-11-18

    quality housing fosters pride and productivity among our people and directly affects mission readiness." RADM Jack E. Buffington, CEC, USN Commander, Naval...Building CosWa $ 10,400,138 Contingency 5% 520,007 Totas Construction Coat. $ 10,920,145 ISoi Costo *, llsktd in Cnouctiia Coats) SIOH 6.00% 655209

  7. 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

  8. The Budget Scoring Alternatives Financing Methods for Defense Requirements

    Science.gov (United States)

    2007-04-30

    programs, the Department of Defense (DoD) must consider alternative forms of financing, including leases and public - private partnerships (PPPs), to...Åèìáëáíáçå=oÉëÉ~êÅÜW=`ob^qfkd=pvkbodv=clo=fkclojba=`e^kdb====- 4 - = = leases, share-in-savings contracts, and public private partnerships (PPPs), have...to meet the requirements. Alternative Financing Agreements: Public - private Partnerships In August 2003, the Government Accountability Office (GAO

  9. 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.

  10. Essays in Household Finance

    DEFF Research Database (Denmark)

    Hanspal, Tobin

    This Ph.D. thesis, entitled Essays in Household Finance, analyzes the determinants and implications of investment biases, personal experiences in financial markets, and financing disruptions on households, individual investors, and entrepreneurs and small business owners. The first essay...... on risk taking is the potential bias resulting from inertia and inattention, which has been shown to be endemic in household finance. If individuals are inert or inattentive, it is difficult to establish whether changes in risk taking are caused by personal experiences or whether the change in risk taking...

  11. Essays in Household Finance

    DEFF Research Database (Denmark)

    Hanspal, Tobin

    This Ph.D. thesis, entitled Essays in Household Finance, analyzes the determinants and implications of investment biases, personal experiences in financial markets, and financing disruptions on households, individual investors, and entrepreneurs and small business owners. The first essay...... on risk taking is the potential bias resulting from inertia and inattention, which has been shown to be endemic in household finance. If individuals are inert or inattentive, it is difficult to establish whether changes in risk taking are caused by personal experiences or whether the change in risk taking...

  12. Fomento à publicação científica e proteção do conhecimento científico Financing of the scientific publication and protection of the scientific knowledge

    Directory of Open Access Journals (Sweden)

    Renato Santos de Oliveira Filho

    2005-01-01

    tecnológicas, no Brasil ou no exterior, para apresentação de trabalho de sua autoria, não publicado, que exponha resultados inéditos. O Brasil vem aumentando sua participação nas publicações científicas internacionais. A nova realidade exige, além da publicação, uma preocupação com a proteção do conhecimento. A mudança da cultura da publicação para a da publicação com proteção do conhecimento é recente no país, tanto por parte das empresas, dos institutos de pesquisa, das universidades como das agências de fomento à pesquisa. Os pesquisadores devem-se conscientizar da necessidade de proteção do conhecimento e as agências de fomento considerar, como critérios de avaliação de produtividade científica, um peso mais equilibrado entre as publicações científicas, os resultados patenteáveis e o know how.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

  13. Computing for Finance

    CERN Document Server

    CERN. Geneva

    2007-01-01

    The finance sector is one of the driving forces for the use of distributed or Grid computing for business purposes. The speakers will review the state-of-the-art of high performance computing in the financial sector, and provide insight into how different types of Grid computing – from local clusters to global networks - are being applied to financial applications. They will also describe the use of software and techniques from physics, such as Monte Carlo simulations, in the financial world. There will be four talks of 20min each. The talk abstracts and speaker bios are listed below. This will be followed by a Q&A panel session with the speakers. From 19:00 onwards there will be a networking cocktail for audience and speakers. This is an EGEE / CERN openlab event organized in collaboration with the regional business network rezonance.ch. A webcast of the event will be made available for subsequent viewing, along with powerpoint material presented by the speakers. Attendance is free and open to all. R...

  14. 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

  15. 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.

  16. Rethinking the Financing of Post-Compulsory Education.

    Science.gov (United States)

    Eicher, Jean-Claude; Chevaillier, Thierry

    2002-01-01

    Asserts that the crisis in financing European higher education calls for the diversification of funding mechanisms. Suggests that the public authorities, which until now have born most of the burden of financing, must transfer a good portion of the burden to users, i.e., student and parents, and to the private sector. Explores methods for…

  17. The Application of Financial Innovation to Financing Infrastructure Investment%金融创新在基础设施融资中的应用

    Institute of Scientific and Technical Information of China (English)

    金雪军; 方好; 陈骥

    2003-01-01

    Infrastructure financing becomes a challenge to most developing countries in their municipalconstruction. The paper brings forward ways that raise fund through capital market and designs properderivatives according to different future cash flow mode of the underlying infrastructure.

  18. Interacting agents in finance

    NARCIS (Netherlands)

    C. Hommes

    2008-01-01

    Interacting agents in finance represent a behavioural, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behaviour in response t

  19. Interacting agents in finance

    NARCIS (Netherlands)

    Hommes, C.; Durlauf, S.N.; Blume, L.E.

    2008-01-01

    Interacting agents in finance represent a behavioural, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behaviour in response

  20. Clean Energy Finance Tool

    Science.gov (United States)

    This tool is for state and local governments interested in developing a financing program to support energy efficiency and clean energy improvements for large numbers of buildings within their jurisdiction.

  1. Financing Sustainable Development

    DEFF Research Database (Denmark)

    Fejerskov, Adam Moe; Funder, Mikkel; Engberg-Pedersen, Lars

    In the fall of 2015, world leaders adopted the most ambitious global development agenda in history. Meeting the aspiring targets of the Sustainable Development Goals will require financing far beyond traditional aid. At the same time, aid itself is under major pressure as European governments cut...... aid budgets or divert them to meet refugee and migration issues. In this context of massive global ambition and concurrent uncertainty on the future of aid, other actors and sources of development financing seem ever more critical, such as the private sector, private foundations and the BRICS....... But what are in fact the interests and modes of operation of such actors in the context of development financing, and to what extent do they align with the aims of the SDGs? And how do national governments of developing countries themselves perceive and approach these new sources of financing?...

  2. An analysis of equity in Brazilian health system financing.

    Science.gov (United States)

    Ugá, Maria Alicia Domínguez; Santos, Isabela Soares

    2007-01-01

    Health care in Brazil is financed from many sources--taxes on income, real property, sales of goods and services, and financial transactions; private insurance purchased by households and firms; and out-of-pocket payments by households. Data on household budgets and tax revenues allow the burden of each source except firms' insurance purchases for their employees to be allocated across deciles of adjusted per capita household income, indicating the progressivity or regressivity of each kind of payment. Overall, financing is approximately neutral, with progressive public finance offsetting regressive payments. This last form of finance pushes some households into poverty.

  3. Financing universal health coverage—effects of alternative tax structures on public health systems: cross-national modelling in 89 low-income and middle-income countries

    Science.gov (United States)

    Reeves, Aaron; Gourtsoyannis, Yannis; Basu, Sanjay; McCoy, David; McKee, Martin; Stuckler, David

    2015-01-01

    Summary Background How to finance progress towards universal health coverage in low-income and middle-income countries is a subject of intense debate. We investigated how alternative tax systems affect the breadth, depth, and height of health system coverage. Methods We used cross-national longitudinal fixed effects models to assess the relationships between total and different types of tax revenue, health system coverage, and associated child and maternal health outcomes in 89 low-income and middle-income countries from 1995–2011. Findings Tax revenue was a major statistical determinant of progress towards universal health coverage. Each US$100 per capita per year of additional tax revenues corresponded to a yearly increase in government health spending of $9·86 (95% CI 3·92–15·8), adjusted for GDP per capita. This association was strong for taxes on capital gains, profits, and income ($16·7, 9·16 to 24·3), but not for consumption taxes on goods and services (−$4·37, −12·9 to 4·11). In countries with low tax revenues (tax revenue per year substantially increased the proportion of births with a skilled attendant present by 6·74 percentage points (95% CI 0·87–12·6) and the extent of financial coverage by 11·4 percentage points (5·51–17·2). Consumption taxes, a more regressive form of taxation that might reduce the ability of the poor to afford essential goods, were associated with increased rates of post-neonatal mortality, infant mortality, and under-5 mortality rates. We did not detect these adverse associations with taxes on capital gains, profits, and income, which tend to be more progressive. Interpretation Increasing domestic tax revenues is integral to achieving universal health coverage, particularly in countries with low tax bases. Pro-poor taxes on profits and capital gains seem to support expanding health coverage without the adverse associations with health outcomes observed for higher consumption taxes. Progressive tax

  4. Empirical Research on Mitigation of Government Subsidies on Financing Constraints of Research and Development Investment:Empirical Evidence f rom Public Company of High and New Technology%政府补贴缓解研发融资约束效应实证研究--来自高新技术上市公司的经验证据

    Institute of Scientific and Technical Information of China (English)

    王文华; 夏丹丹; 朱佳翔

    2014-01-01

    The article is an empirical research on mitigation of government subsidies on financing constraints of R&D based on the data of public company of high and new technology .The research results show that there are ubiquitous financing constraints of R&D in public company of high and new technology in China ,Which is significant R&D cash flow sensitivi-ty ;There are significant direct mitigation of government subsidies on financing constraints of R&D ,but no significant in-direct mitigation of government subsidies on financing constraints of R&D ;There are significant effects that equity finan-cing have on R&D but no significant effects that debt financing have on R&D in public company of high and new technolo-gy in China .%运用高新技术上市公司数据,对政府补贴缓解研发融资约束效应进行了实证研究。结果表明:我国高新技术上市公司普遍存在研发融资约束现象,且表现出显著的研发投资现金流敏感性特征;政府补贴缓解研发融资的直接效应显著,间接效应不显著;我国资本市场债务融资对高新技术上市公司研发投资的促进作用不明显,而权益融资对高新技术上市公司研发投资具有显著的促进作用。

  5. 公共财政视角下政府在学前教育中的责任%Government Responsibility in Preschool Education from Perspective of Public Finance

    Institute of Scientific and Technical Information of China (English)

    赵海利

    2012-01-01

    文章从财政的资源配置和收入分配职能出发,对公共财政视角下政府在学前教育中的责任进行了理论分析,在此基础上结合目前我国学前教育投入现状,提出进一步完善我国政府在学前教育中的投入责任、监管责任、扶弱责任,以确保学前教育的公益性、竞争的公平性和均衡发展。%From public finance function on resource allocation and income distribution, the article analysis the government responsibility and proposed further reforms based on the current situation in preschool education. The suggestions included enhancing the government responsibilities on investment, supervision, affirmative action in order to ensure the public-good benefit, fair competition and balanced development on preschool education.

  6. Exploring Higher Education Financing Options

    Science.gov (United States)

    Nkrumah-Young, Kofi K.; Powell, Philip

    2011-01-01

    Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…

  7. State Higher Education Finance, FY 2004

    Science.gov (United States)

    Lingenfelter, Paul E.; Wright, David L.; Bisel, Tara M.

    2005-01-01

    The State Higher Education Finance (SHEF) report is a tool to help policy makers and educators address broad public policy questions. SHEF seeks to inform policy deliberations with information and perspective on financial issues and national trends. The fiscal 2004 SHEF study documents a four-year period when state funding for higher education…

  8. State Higher Education Finance FY 2008

    Science.gov (United States)

    State Higher Education Executive Officers, 2009

    2009-01-01

    Financing higher education requires political leaders, policymakers, and educators to address broad public policy questions, including ascertaining: the levels of state funding to colleges and universities that are necessary to maintain the economic and social well-being of the American people; the tuition levels that are appropriate given the…

  9. 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 institutions

  10. School Financing: Movement Toward Equality of Expenditures?

    Science.gov (United States)

    Amato, Josephine

    In this paper, the political and economic forces influencing attempts to reduce the inequalities in education expenditures are examined. Current programs for financing public education (local, State, and Federal) are compared. In general, State-local tax systems are found to be regressive and improvements are suggested. Inequitability of State aid…

  11. Downscaling MODIS Land Surface Temperature for Urban Public Health Applications

    Science.gov (United States)

    Al-Hamdan, M. Z.; Crosson, W. L.; Estes, M. G., Jr.; Estes, S. M.; Quattrochi, D. A.; Johnson, D.

    2013-12-01

    This study is part of a project funded by the NASA Applied Sciences Public Health Program, which focuses on Earth science applications of remote sensing data for enhancing public health decision-making. Heat related death is currently the number one weather-related killer in the United States. Mortality from these events is expected to increase as a function of climate change. This activity sought to augment current Heat Watch/Warning Systems (HWWS) with NASA remotely sensed data, and models used in conjunction with socioeconomic and heat-related mortality data. The current HWWS do not take into account intra-urban spatial variations in risk assessment. The purpose of this effort is to evaluate a potential method to improve spatial delineation of risk from extreme heat events in urban environments by integrating sociodemographic risk factors with land surface temperature (LST) estimates derived from thermal remote sensing data. In order to further improve the assessment of intra-urban variations in risk from extreme heat, we developed and evaluated a number of spatial statistical techniques for downscaling the 1-km daily MODerate-resolution Imaging Spectroradiometer (MODIS) LST data to 60 m using Landsat-derived LST data, which have finer spatial but coarser temporal resolution than MODIS. We will present these techniques, which have been demonstrated and validated for Phoenix, AZ using data from the summers of 2000-2006.

  12. Downscaling MODIS Land Surface Temperature for Urban Public Health Applications

    Science.gov (United States)

    Al-Hamdan, Mohammad; Crosson, William; Estes, Maurice, Jr.; Estes, Sue; Quattrochi, Dale; Johnson, Daniel

    2013-01-01

    This study is part of a project funded by the NASA Applied Sciences Public Health Program, which focuses on Earth science applications of remote sensing data for enhancing public health decision-making. Heat related death is currently the number one weather-related killer in the United States. Mortality from these events is expected to increase as a function of climate change. This activity sought to augment current Heat Watch/Warning Systems (HWWS) with NASA remotely sensed data, and models used in conjunction with socioeconomic and heatrelated mortality data. The current HWWS do not take into account intra-urban spatial variation in risk assessment. The purpose of this effort is to evaluate a potential method to improve spatial delineation of risk from extreme heat events in urban environments by integrating sociodemographic risk factors with estimates of land surface temperature (LST) derived from thermal remote sensing data. In order to further improve the consideration of intra-urban variations in risk from extreme heat, we also developed and evaluated a number of spatial statistical techniques for downscaling the 1-km daily MODerate-resolution Imaging Spectroradiometer (MODIS) LST data to 60 m using Landsat-derived LST data, which have finer spatial but coarser temporal resolution than MODIS. In this paper, we will present these techniques, which have been demonstrated and validated for Phoenix, AZ using data from the summers of 2000-2006.

  13. 77 FR 54944 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-09-06

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air.... (``KaiserAir'') requesting an amended certificate of public convenience and necessity authorizing it...

  14. 76 FR 10085 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-02-23

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2011 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air... Airlines, Inc., d/b/a Alpha Cargo, and for reissuance of its certificate of public convenience...

  15. 75 FR 41564 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2010-07-16

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and... The following Applications for Certificates of Public Convenience and Necessity and Foreign Air.... requesting a certificate of public convenience and necessity to engage in foreign scheduled...

  16. 77 FR 54945 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-09-06

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air... transfer of its certificates of public convenience and necessity to facilitate the reorganization of...

  17. 77 FR 49478 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-08-16

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air.../a Transair requesting a certificate of public convenience and necessity authorizing it to engage...

  18. 75 FR 16226 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2010-03-31

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2010 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air.... requesting a certificate of public convenience and necessity to engage in foreign scheduled...

  19. Private opportunity, public benefit?

    OpenAIRE

    John Hall

    1998-01-01

    The newly elected Labour government has pledged to ‘reinvigorate the Private Finance Initiative’, as part of the new emphasis on ‘public/private partnerships’ in the delivery of core public services. This article assesses the merits of using private finance to deliver public services against three criteria: whether it will lead to additional investment in social infrastructure, whether it represents good value for the taxpayer’s money and whether the use of private finance will reduce the pub...

  20. Private opportunity, public benefit?

    OpenAIRE

    John Hall

    1998-01-01

    The newly elected Labour government has pledged to ‘reinvigorate the Private Finance Initiative’, as part of the new emphasis on ‘public/private partnerships’ in the delivery of core public services. This article assesses the merits of using private finance to deliver public services against three criteria: whether it will lead to additional investment in social infrastructure, whether it represents good value for the taxpayer’s money and whether the use of private finance will reduce the pub...

  1. 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

  2. Clean coal technology: Export finance programs

    Energy Technology Data Exchange (ETDEWEB)

    1993-09-30

    Participation by US firms in the development of Clean Coal. Technology (CCT) projects in foreign countries will help the United States achieve multiple national objectives simultaneously--addressing critical goals related to energy, environmental technology, industrial competitiveness and international trade. US participation in these projects will result in an improved global environment, an improvement in the balance of payments and an increase in US jobs. Meanwhile, host countries will benefit from the development of economically- and environmentally-sound power facilities. The Clean Air Act Amendments of 1990 (Public Law 101-549, Section 409) as supplemented by a requirement in the Energy Policy Act of 1992 (Public Law 102-486, Section 1331(f)) requires that the Secretary of Energy, acting through the Trade Promotion Coordinating Committee Subgroup on Clean Coal Technologies, submit a report to Congress with information on the status of recommendations made in the US Department of Energy, Clean Coal Technology Export Programs, Report to the United States Congress, February 1992. Specific emphasis is placed on the adequacy of financial assistance for export of CCTS. This report fulfills the requirements of the Act. In addition, although this report focuses on CCT power projects, the issues it raises about the financing of these projects are also relevant to other CCT projects such as industrial applications or coal preparation, as well as to a much broader range of energy and environmental technology projects worldwide.

  3. 43 CFR 6.10 - Publicity concerning the invention after patent application is filed.

    Science.gov (United States)

    2010-10-01

    ... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Publicity concerning the invention after... Interior PATENT REGULATIONS Inventions by Employees § 6.10 Publicity concerning the invention after patent application is filed. In order that the public may obtain the greatest possible benefit from inventions in...

  4. The Impact of External Public Audit on the Budget Deficit

    OpenAIRE

    2014-01-01

    Objectives: Public imbalances can cause extensive problems both on public finances and economy. Regardless of the constitution and destination of funds it is absolutely necessary to verify their correct accounting, collection type and expense in accordance with applicable regulations, and if due attention is paid to obtain an optimal balance between resources and results. Therefore it is useful to study the role of public audit in the formation and use of public funds to indicate ...

  5. Advice presented on behalf of the commission of finances, economy and plan about the law project (no. 1613) relative to the electric and gas public utilities and to the power and gas companies; Avis presente au nom de la Commission des finances, de l'economie generale et du plan sur le projet de loi (no. 1613), relatif au service public de l'electricite et du gaz et aux entreprises electriques et gazieres

    Energy Technology Data Exchange (ETDEWEB)

    Carayon, B.

    2004-06-01

    The aim of this report is to present to the French deputies the advice of the commission of finances and economy about the law project relative to the change of status of the power and gas public utilities in the framework of the deregulation of European energy markets. This law changes the juridical status of the two state monopolies Electricite de France (EdF) and Gaz de France (GdF) into two anonymous companies and creates two additional companies for the management of the power and gas networks. It ensures also the transposition of the European directives from June 26, 2003 (2003/54/CE and 2003/55/CE). It contains some proper dispositions and modifies various existing French laws, in particular the law no. 46-628 from April 8, 1946 about the electricity and gas nationalization and the law no. 2000-108 from February 10, 2000 relative to the modernization and development of the electric public utility. The first part of the document reports on the general discussions and comments made by the commission about the law project while the second part concerns the detailed analysis of the articles 16 and 22 about the pension funds of EdF and GdF agents and the change of the status of both utilities. The amendments adopted by the commission for these articles conclude the report. (J.S.)

  6. 公共基础设施PPP融资模式问题探讨%The Discussion about PPP Financing Pattern of Public Infrastructure Construction

    Institute of Scientific and Technical Information of China (English)

    陈柳钦

    2008-01-01

    PPP(Public-Private-Partnership)是一种新型的融资模式,本文着重分析了PPP融资模式的结构、特点、内涵和作用,PPP模式的目标及运作思路;国内外PPP融资案例;PPP模式的优势所在及其成功运作的必要条件;我国运用PPP模式融资应注意的事项;等等.

  7. FINANCING MODE FOR SUSTAINABLE FARMLAND CONSOLIDATION

    Institute of Scientific and Technical Information of China (English)

    BAO Hai-jun; XU Bao-gen; WU Ci-fang; ZHOU Wang-yue

    2004-01-01

    Sustainable farmland consolidation covers ecology, economy and society, which means, its only goal is to protect eco-environment, in accordance with public benefits and economic laws. China is still a developing country, facing capital-lacking, an important but difficult problem, while sustainable farmland consolidation will need more money than common farmland consolidation. To solve the problem, this paper put forward and designed a new financing mode for farmland consolidation: BOT(Build-Operate-Transfer), which can effectively solve the financing problem and investment reclamation by the way of concession, and make sustainable farmland consolidation be realized in China.

  8. Sows' Ears and Silk Purses. A Look at the Evolution of Educational Finances in New Mexico.

    Science.gov (United States)

    Abernathy, Sandra M.

    In reviewing the history of educational finances in New Mexico from 1850 to the present, the evolution of the state's financing program and the reasons for its unique separation of educational finances from educational programs is explored. The state's rational, forward-looking approach to public education is attributed to federal neglect when New…

  9. Fractionalization of the complex-valued Brownian motion of order n using Riemann-Liouville derivative. Applications to mathematical finance and stochastic mechanics

    Energy Technology Data Exchange (ETDEWEB)

    Jumarie, Guy [Department of Mathematics, University of Quebec at Montreal, P.O. Box 8888, Downtown Station, Montreal, QC, H3C 3P8 (Canada)]. E-mail: jumarie.guy@uqam.ca

    2006-06-15

    The (complex-valued) Brownian motion of order n is defined as the limit of a random walk on the complex roots of the unity. Real-valued fractional noises are obtained as fractional derivatives of the Gaussian white noise (or order two). Here one combines these two approaches and one considers the new class of fractional noises obtained as fractional derivative of the complex-valued Brownian motion of order n. The key of the approach is the relation between differential and fractional differential provided by the fractional Taylor's series of analytic function f(z+h)=E{sub {alpha}}(h{sup {alpha}}D{sub z}{sup {alpha}}).f(z), where E{sub {alpha}} is the Mittag-Leffler function on the one hand, and the generalized Maruyama's notation, on the other hand. Some questions are revisited such as the definition of fractional Brownian motion as integral w.r.t. (dt){sup {alpha}}, and the exponential growth equation driven by fractional Brownian motion, to which a new solution is proposed. As a first illustrative example of application, in mathematical finance, one proposes a new approach to the optimal management of a stochastic portfolio of fractional order via the Lagrange variational technique applied to the state moment dynamical equations. In the second example, one deals with non-random Lagrangian mechanics of fractional order. The last example proposes a new approach to fractional stochastic mechanics, and the solution so obtained gives rise to the question as to whether physical systems would not have their own internal random times.

  10. PPP Management Mode and the Influence on Urban Public Finance%PPP管理模式对城市公共财政的影响

    Institute of Scientific and Technical Information of China (English)

    孙洁

    2004-01-01

    PPP是英语Public-Private Partnerships的缩写.中文翻译为公私伙伴关系:美国民营化大师萨瓦斯在他的《民营化与公私部门的伙伴关系》(以后简称《民营化》)一书中是这样给公私伙伴关系下的定义.他说我们可以从三种意义上使用公私伙伴关系这一术语:首先是广义界定(这多少有点夸大),指公共和私营部门共同参与生产

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

    OpenAIRE

    Rodica Gabriela Blidisel; Adina Simona Popa; Raimondo Lo Russo; Maria Moraru

    2010-01-01

    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 ...

  12. Applications of health information exchange information to public health practice

    DEFF Research Database (Denmark)

    Kierkegaard, Patrick; Kaushal, Rainu; Vest, Joshua R.

    2014-01-01

    Health information exchange (HIE) can support several aspects of public health practice by increasing the availability, timeliness, and comprehensiveness individual-level patient information. The potential benefits to disease monitoring, disaster response, and other public health activities served...... qualitative interviews and template analyses, we identified public health efforts and activities that were improved by participation in HIE. We derived the codes for the template analysis through a literature review. HIE supported public health activities consistent with expectations in the literature...

  13. İbni Haldun’un Gözüyle Kamu Maliyesi Yaklaşımı(Public Finance Approach From Ibn Khauldan’s Point of View

    Directory of Open Access Journals (Sweden)

    Nesrin CANDAN

    2007-01-01

    Full Text Available Ibn Khauldan who is Middle ages Islam-Arab philosophers, with his scientific personality, observations and ideas has affected his era and, has maintained his importance even in present. Ibn Khauldan who is known as “Historian, philosopher, sociologist, economist, politician scientist” to have Ibn Khauldan’s own peculiar philosophical and economic point of views. Ibn Khaldun has mentioned significantly at his named “Muqaddimah” scientific point of views; abaout social, political, economical, fiscal events and, to among the relations. Ibn Khaldun has examined historical events within the correspondence between cause and effect and has tried to get some deductions about communities. Ibn Khaldun has claimed knowing history the opinion which has been “necessity” to analyze from several perspective bir çok açıdan society events. In this study, by examining historical period of time when Ibn Khaldun had lived, Ibn Kahldun’s point of view to public finance had been displayed.

  14. Guidebook to Geothermal Finance

    Energy Technology Data Exchange (ETDEWEB)

    Salmon, J. P.; Meurice, J.; Wobus, N.; Stern, F.; Duaime, M.

    2011-03-01

    This guidebook is intended to facilitate further investment in conventional geothermal projects in the United States. It includes a brief primer on geothermal technology and the most relevant policies related to geothermal project development. The trends in geothermal project finance are the focus of this tool, relying heavily on interviews with leaders in the field of geothermal project finance. Using the information provided, developers and investors may innovate in new ways, developing partnerships that match investors' risk tolerance with the capital requirements of geothermal projects in this dynamic and evolving marketplace.

  15. Rethinking SMEs’ Financing Predicament

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    A waveofsharpcriticism has been aimed atthebanks concerning the difficulties for China’ss mallandmedium-sized enterprises(SMEs)in acquiring financing,whilethe Central Government began to strongly urge banks to provide loans for SMEs.Shouldall SMEs be financed while the bankst ake theblame?Is there anyother viable way to pull SMEs outof the financial predicament?Qiu Haiping,a professor with the School of Economics at Renmin University of China,recentlye xamined the issue and offered insights in the Guangming Daily.Edited excerpts follow

  16. Exploration on Building of Visualization Platform to Innovate Business Operation Pattern of Supply Chain Finance

    Science.gov (United States)

    He, Xiangjun; Tang, Lingyun

    Supply Chain Finance, as a new financing pattern, has been arousing general attentions of scholars at home and abroad since its publication. This paper describes the author's understanding towards supply chain finance, makes classification of its business patterns in China from different perspectives, analyzes the existing problems and deficiencies of the business patterns, and finally puts forward the notion of building a visualization platform to innovate the business operation patterns and risk control modes of domestic supply chain finance.

  17. Bio-Aerosol Detection Using Mass Spectrometry: Public Health Applications

    Energy Technology Data Exchange (ETDEWEB)

    Ludvigson, Laura D. [Univ. of California, Berkeley, CA (United States)

    2004-01-01

    I recently spent a summer as an intern at the Lawrence Livermore National Laboratory. I worked on a project involving the real-time, reagentless, single cell detection of aerosolized pathogens using a novel mass spectrometry approach called Bio-Aerosol Mass Spectrometry (BAMS). Based upon preliminary results showing the differentiation capabilities of BAMS, I would like to explore the development and use of this novel detection system in the context of both environmental and clinical sample pathogen detection. I would also like to explore the broader public health applications that a system such as BAMS might have in terms of infectious disease prevention and control. In order to appreciate the potential of this instrument, I will demonstrate the need for better pathogen detection methods, and outline the instrumentation, data analysis and preliminary results that lead me toward a desire to explore this technology further. I will also discuss potential experiments for the future along with possible problems that may be encountered along the way.

  18. [Biological monitoring: concepts and applications in public health].

    Science.gov (United States)

    Pivetta, F; Machado, J M; Araújo, U C; Moreira, M F; Apostoli, P

    2001-01-01

    This study provides an overview of the theoretical discussion on potential uses for biological monitoring of exposure to chemical substances as related to human health, considering different concepts: definitions, uses, and limitations of internal dose and biological effect indicators and their availability for the substances to be quantified; knowledge of reference values, action levels, and limits based on health and negotiated patterns in biological monitoring interpretation and perspectives; and ethical and social problems in practice and within different preventive practices and their use in public health. Biological monitoring is the result of an exposure situation with conclusions based on scientific and consensus values, rules, and legislation. Biological monitoring as a continuous process and related to actually observed cases has helped establish technological exposure reference values and consensus levels as indicators for improving the environment and the workplace. As a step in the decision-making process in risk analysis, biological monitoring needs to be critically assessed as to its ethical aspects in light of the end use of results and values, which are references for application of this methodology.

  19. Bio-Aerosol Detection Using Mass Spectrometry: Public Health Applications

    Energy Technology Data Exchange (ETDEWEB)

    Ludvigson, L D

    2004-03-05

    I recently spent a summer as an intern at the Lawrence Livermore National Laboratory. I worked on a project involving the real-time, reagentless, single cell detection of aerosolized pathogens using a novel mass spectrometry approach called Bio-Aerosol Mass Spectrometry (BAMS). Based upon preliminary results showing the differentiation capabilities of BAMS, I would like to explore the development and use of this novel detection system in the context of both environmental and clinical sample pathogen detection. I would also like to explore the broader public health applications that a system such as BAMS might have in terms of infectious disease prevention and control. In order to appreciate the potential of this instrument, I will demonstrate the need for better pathogen detection methods, and outline the instrumentation, data analysis and preliminary results that lead me toward a desire to explore this technology further. I will also discuss potential experiments for the future along with possible problems that may be encountered along the way.

  20. 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…

  1. 城市公交融资租赁的意义与经验%On Finance Leasing of Urban Public Transportation

    Institute of Scientific and Technical Information of China (English)

    石斌; 施佑生

    2014-01-01

    The article, based on the analysis on the main advantage of financial leasing business applying to urban public transportation industry and introducing the experience of new energy bus financial leasing business in Shenzhen, is intended to make four-point recommendation for improvement and provide some reference for further development relating to new energy bus financial leasing in major cities in our country.%自国务院2012年发布《关于城市优先发展公共交通的指导意见》以来,国内一线城市引进了一批“零排放”新能源公交车辆,显著减少碳排放。本文分析了融资租赁业务在城市公交行业应用的意义,介绍了深圳新能源公交车辆融资租赁模式的主要经验,并在此基础上提出对策建议,为下一步城市新能源公交车辆融资租赁业务的推广提供参考。

  2. 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.

  3. 公积金参与公租房建设PPP融资模式研究%Study on the Financing Model of the PPP in Public Rental Housing with the Accumulation fund participating in

    Institute of Scientific and Technical Information of China (English)

    高显义; 陈晨

    2014-01-01

    To research the inlfuence accumulation fund has on the public housing project ifnance on project construction, based on the PPP ifnancing structure model, introducing accumulation fund investment involved in delivering late and pay rent, focuses on the accumulation fund in the role of the PPP ifnancing structure and optimize the structure of the PPP ifnancing model;Meanwhile, through the analysis of accumulation fund to participate in the public housing construction for the influence of financing, to proiftability, ifnancing risks, and to study the inlfuence of the farmers on three aspects, ifnally according to the analysis of the impact puts forward the corresponding countermeasures.%为研究公积金参与到公租房项目融资中对项目建设的影响,基于PPP融资结构模型,引入公积金参与前段投资以及后期租金偿付,重点讨论了公积金在PPP融资结构中的作用并优化PPP融资结构模型;同时,通过分析公积金参与公租房建设对融资的影响,对盈利能力、融资风险以及对承租户的影响三方面进行研究,最后根据影响的分析结果提出了相应的应对措施。

  4. Campaign Finance: Reporter Guide

    Science.gov (United States)

    Wieder, Ben

    2014-01-01

    Campaign finance might seem like the exclusive province of political reporters, but there are many good reasons why authors should be paying attention--both in races for education positions and in other key races at the local, state, and federal levels with implications for education. Basic math is a necessary skill and familiarity with a…

  5. Nuclear Physicists in Finance

    Science.gov (United States)

    Mattoni, Carlo

    2017-01-01

    The financial services industry presents an interesting alternative career path for nuclear physicists. Careers in finance typically offer intellectual challenge, a fast pace, high caliber colleagues, merit-based compensation with substantial upside, and an opportunity to deploy skills learned as a physicist. Physicists are employed at a wide range of financial institutions on both the ``buy side'' (hedge fund managers, private equity managers, mutual fund managers, etc.) and the ``sell side'' (investment banks and brokerages). Historically, physicists in finance were primarily ``quants'' tasked with applying stochastic calculus to determine the price of financial derivatives. With the maturation of the field of derivative pricing, physicists in finance today find work in a variety of roles ranging from quantification and management of risk to investment analysis to development of sophisticated software used to price, trade, and risk manage securities. Only a small subset of today's finance careers for physicists require the use of advanced math and practically none provide an opportunity to tinker with an apparatus, yet most nevertheless draw on important skills honed during the training of a nuclear physicist. Intellectually rigorous critical thinking, sophisticated problem solving, an attention to minute detail and an ability to create and test hypotheses based on incomplete information are key to both disciplines.

  6. Competition with evolution in ecology and finance

    Energy Technology Data Exchange (ETDEWEB)

    Sprott, J.C

    2004-05-24

    A variant of the multi-species Lotka-Volterra model is studied in which species competing for fixed finite resources are replaced by new randomly chosen species whenever they become extinct. The model exhibits chaos, punctuated equilibria, leptokurtosis, and self-organized criticality. It has application to ecology, finance, and possibly other diverse systems.

  7. Water Finance Webinars and Forums

    Science.gov (United States)

    The Center hosts a series of water finance forums. These forums bring together communities with drinking water, wastewater, and stormwater project financing needs in an interactive peer-to-peer networking format.

  8. 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 narrat...... 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...

  9. Applications of health information exchange information to public health practice.

    Science.gov (United States)

    Kierkegaard, Patrick; Kaushal, Rainu; Vest, Joshua R

    2014-01-01

    Increased information availability, timeliness, and comprehensiveness through health information exchange (HIE) can support public health practice. The potential benefits to disease monitoring, disaster response, and other public health activities served as an important justification for the US' investments in HIE. After several years of HIE implementation and funding, we sought to determine if any of the anticipated benefits of exchange participation were accruing to state and local public health practitioners participating in five different exchanges. Using qualitative interviews and template analyses, we identified public health efforts and activities that were improved by participation in HIE. HIE supported public health activities consistent with expectations in the literature. However, no single department realized all the potential benefits of HIE identified. These findings suggest ways to improve HIE usage in public health.

  10. 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.

  11. The Challenge of Islamic Finance

    OpenAIRE

    Sheng, Andrew; Singh, Ajit

    2012-01-01

    From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim fi...

  12. TAXATION AND FINANCE CONSTRAINED FIRMS

    OpenAIRE

    Iris Claus

    2006-01-01

    This paper develops an open economy model to assess the long-run effects of taxation where firms are finance constrained. Finance constraints arise because of imperfect information between borrowers and lenders. Only borowers (firms) can costlessly observe actual returns from production. Imperfect information and finance constraints magnify the effects of taxation. A reduction (rise) in income taxation increases (lowers) firms' internal funds and their ability to assess external finance to ex...

  13. Application of the New Information and Communication Technologies in Public Relations.

    Science.gov (United States)

    Blake, Cecil

    This paper discusses current information technologies and their applications, both real and potential, in the field of public relations. It is argued that public relations are more important than ever in view of global events that challenge the world's ability to handle problems related to public trust and confidence, and the telecommunications…

  14. 75 FR 29601 - Office of the Secretary: Notice of Applications for Certificates of Public Convenience and...

    Science.gov (United States)

    2010-05-26

    ... Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Filed Under Subpart B... Public Convenience and Necessity and Foreign Air Carrier Permits were filed under Subpart B...

  15. 78 FR 63273 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2013-10-23

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and... Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Filed Under Subpart B... of Public Convenience and Necessity and Foreign Air Carrier Permits were filed under Subpart...

  16. 75 FR 53999 - Office of the Secretary: Notice of Applications for Certificates of Public Convenience and...

    Science.gov (United States)

    2010-09-02

    ... Office of the Secretary: Notice of Applications for Certificates of Public Convenience and Necessity and... Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Filed Under Subpart B... Public Convenience and Necessity and Foreign Air Carrier Permits were filed under Subpart B...

  17. Testing the Pecking Order Theory: The Impact of Financing Surpluses and Large Financing Deficits

    NARCIS (Netherlands)

    A. de Jong (Abe); M.J.C.M. Verbeek (Marno); P. Verwijmeren (Patrick)

    2007-01-01

    textabstractThis paper extends the basic pecking order model of Shyam-Sunder and Myers (1999) by separating the effects of financing surpluses, normal deficits, and large deficits. Using a broad cross-section of publicly traded firms for 1971 to 2005, we find that the estimated pecking order coeffic

  18. 40 CFR 117.13 - Applicability to discharges from publicly owned treatment works and their users.

    Science.gov (United States)

    2010-07-01

    ... publicly owned treatment works and their users. 117.13 Section 117.13 Protection of Environment... SUBSTANCES Applicability § 117.13 Applicability to discharges from publicly owned treatment works and their users. (a) (b) These regulations apply to all discharges of reportable quantities to a POTW, where the...

  19. 77 FR 70208 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-11-23

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  20. 76 FR 27167 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-05-10

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2011 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  1. 78 FR 45011 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2013-07-25

    ... Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2013 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air... convenience and necessity in the name of ``ENDEAVOR AIR, INC.''. Barbara J. Hairston, Acting Program...

  2. 77 FR 27832 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-05-11

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  3. 78 FR 56984 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2013-09-16

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2013 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  4. 77 FR 67731 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-11-13

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  5. 77 FR 13682 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-03-07

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  6. 76 FR 10084 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-02-23

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2011 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  7. 75 FR 39324 - Office of the Secretary: Notice of Applications for Certificates of Public Convenience and...

    Science.gov (United States)

    2010-07-08

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary: Notice of Applications for Certificates of Public Convenience and Necessity and..., 2010 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  8. 76 FR 70210 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-11-10

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2011 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  9. 75 FR 22891 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2010-04-30

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2010 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  10. 77 FR 47691 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-08-09

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  11. 76 FR 72025 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-11-21

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2011 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  12. 77 FR 27833 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2012-05-11

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2012 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  13. 76 FR 13444 - Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air...

    Science.gov (United States)

    2011-03-11

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and..., 2011 The following Applications for Certificates of Public Convenience and Necessity and Foreign...

  14. Nonverifiable research publications among applicants to an academic trauma and surgical critical care fellowship program.

    Science.gov (United States)

    Branco, Bernardino C; Inaba, Kenji; Gausepohl, Andrew; Okoye, Obi; Teixeira, Pedro G; Breed, Wynne; Lam, Lydia; Talving, Peep; Sullivan, Maura; Demetriades, Demetrios

    2012-09-01

    The purpose of this study was to determine the incidence and predictors of nonverifiable research publications among applicants to a trauma and surgical critical care fellowship program. All complete applications submitted to our trauma and surgical critical care fellowship program were prospectively collected for 4 application cycles (2009 to 2012). All publications listed by applicants were tabulated and underwent verification using MEDLINE and direct journal search with verification by a team of professional health sciences librarians. Demographics and academic criteria were compared between applicants with nonverifiable and verifiable publications. A total of 100 applicants reported 301 publications. Of those, 20 applicants (20%) listed 32 papers (11%) that could not be verified. These applicants comprised 30% of those with 1 or more peer-reviewed publications. There were no significant differences in sex (male, 55% nonverifiable vs 60% verifiable, p = 0.684) or age (34.3 ± 6.6 years vs 34.2 ± 5.0 years, p = 0.963). There were no differences with regard to citizenship status (foreign medical graduates, 20% nonverifiable vs 28% verifiable, p = 0.495). Applicants with nonverified publications were less likely to be in the military (0% vs 14%, p = 0.079), more likely to have presented their work at surgical meetings (80% vs 58%, p = 0.064), and to be individuals with 3 or more peer-reviewed publications (55% vs 25%, p = 0.009). In this analysis of academic integrity, one-fifth of all applicants applying to a trauma and surgical critical care fellowship program and 30% of those with 1 or more peer-reviewed publications had nonverifiable publications listed in their curricula vitae. These applicants were less likely to be in the military, more likely to have presented their work at surgical meetings and to have 3 or more peer-reviewed publications. Copyright © 2012 American College of Surgeons. Published by Elsevier Inc. All rights reserved.

  15. Application of Direct Debt Financing in A Company%直接债务融资在A公司的应用

    Institute of Scientific and Technical Information of China (English)

    于奇峰

    2015-01-01

    Taking A company for example, through the analysis of basic situation of A Company and the main business characteristics, combined with its financial situation and the existing financing model, this paper obtained that all sectors of industrial scale of A company had a rapid development, the operating income increased year by year, which makes the funding needs for working capital continues to expand, and A company wanted to supplement the working capital by debt financing. According to the basic situation of the domestic financial market, the viable debt financing ways for A company include bank loans, trust loans, bonds and finance leases. In order to improve decision-making efficiency, increase the accuracy of corporate financing decisions, help A company to weigh all factors, and reasonably chose the above debt financing ways, this paper constructs A company debt financing decision model based on AHP quantify. By AHP decision model, the order of four possible debt financing ways is: bonds> bank loans> trust loans> financial leasing, and the best financing way of A company is bonds.%本文以A公司为例,通过对A公司基本情况及主营业务特点的分析,结合其财务情况及现有融资模式,得出了A公司各板块产业规模发展迅速,营业收入呈逐年增长态势,对流动资金的资金需求不断扩大,拟通过债务融资对流动资金进行补充,根据目前国内金融市场的基本情况,A公司可行的债务融资方式主要包括银行贷款、信托贷款、发行债券以及融资租赁。为了提高决策效率,增加企业融资决策的准确性,帮助A公司综合权衡各种影响因素,对上述各种债务融资方式进行合理选择,本文构建了基于AHP的A公司债务融资量化决策模型。通过AHP决策模型,其四种可行的债务融资方式的排序为:发行债券〉银行贷款〉信托贷款〉融资租赁,最符合A公司目前债务融资需求的融资方式是发行债券。

  16. Fields of application of SSM : a categorization of publications

    NARCIS (Netherlands)

    de Water, H. van; Schinkel, M.; Rozier, R.

    2007-01-01

    In this article, we introduce a classification scheme for publications of articles on SSM. Generally speaking, the publications can be divided into empirically orientated and theoretically orientated papers. Within each of these two categories a further subdivision is made. This subdivision consists

  17. Applications of health information exchange information to public health practice

    DEFF Research Database (Denmark)

    Kierkegaard, Patrick; Kaushal, Rainu; Vest, Joshua R.

    2014-01-01

    qualitative interviews and template analyses, we identified public health efforts and activities that were improved by participation in HIE. We derived the codes for the template analysis through a literature review. HIE supported public health activities consistent with expectations in the literature...

  18. Applications of health information exchange information to public health practice

    DEFF Research Database (Denmark)

    Kierkegaard, Patrick; Kaushal, Rainu; Vest, Joshua R.

    2014-01-01

    as an important justification for the US’ investments in HIE. After several years of HIE implementation and funding, we sought to determine if any of the anticipated benefits of exchange participation were accruing to state and local public health practitioners participating in five different exchanges. Using......Health information exchange (HIE) can support several aspects of public health practice by increasing the availability, timeliness, and comprehensiveness individual-level patient information. The potential benefits to disease monitoring, disaster response, and other public health activities served...... qualitative interviews and template analyses, we identified public health efforts and activities that were improved by participation in HIE. We derived the codes for the template analysis through a literature review. HIE supported public health activities consistent with expectations in the literature...

  19. Strategy Analyses of An Application of Franchise Project Financing in the Field of Railway%特许权项目融资在铁路领域应用的策略分析

    Institute of Scientific and Technical Information of China (English)

    饶为富; 梁宁

    2009-01-01

    以铁路和谐发展为研究对象,指出铁路融资要解决资金结构问题,认为公私合作项目融资是目前我国铁路建设理论上的最佳制度化融资方案,为非公资本投资铁路提供决策理论参考,并为铁路和谐发展实现融资目标提供思想借鉴.采用了抽象、归纳与类比方法,对公私合作项目融资进行了实证分析,提出在现有约束条件基础上,通过放宽市场准人限制,引入竞争,建立合资铁路特许权经营制度,以政府为主导,以私人部门出资30%~40%计算.可以为铁路和谐发展节约国家投资0.6~0.8万亿元.这一结构性融资制度对我国铁路发展具有战略意义.%Based on the harmonious development of the railway,the paper concludes that the key problem of capital structure must be resolved in railway financing, and suggests the optimum structural solution theoretically to the railroading of the national railways, and provides ideaistic reference to decision-making of the private capitals investing the railway and to the solutions to financing in the course of the harmonious development of railway. By positively analyzing to the PPP project financing,the methods of abstracting,summing up and analogy are adopted to put forward to practise the government-oriented PPP project financing by broadening the restrictions of market entrance on the bases of the current restrictions, introducing competition, setting up franchise business system of J-V railways. It can curtail public investment around 600~800 billion RMB for the development of railway harmonious development according to the private partner investing 30%~40% scale. This structural financing policy will produce strategic significance for the harmonious development of our national railway.

  20. 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.