WorldWideScience

Sample records for total government finances

  1. FINANCING DECISION AND CORPORATE GOVERNANCE

    OpenAIRE

    ANDREI STANCULESCU; DAN NICOLAE IVANESCU; PETRE BREZEANU

    2011-01-01

    This paper sustains the existence of a biunivocal link between a company’s financing decision and the corporate governance. On the one hand, the financing decision has an impact on corporate performance, which has been confirmed. According to the agency theory, the financing decision will contribute to solving interest conflicts between shareholders and managers. On the other hand, the corporate governance mechanism provides the proper contractual framework for attracting financing resources....

  2. DO ACCOUNTING AND FINANCE TOOLS SERVE GOVERNANCE?

    OpenAIRE

    Mohamed Ariff; J. Ratnatunga

    2008-01-01

    A brief review of recent literature on corporate governance is provided, which is then concluded with a proposed corporate governance framework as a starting point for further development. We propose that it is stakeholder concentration that determines the quality of corporate governance. Next objective of this paper is the more ambitious one of addressing the role of accounting and finance disciplines to serve corporate governance. We test empirically if the use of some accounting and financ...

  3. State Education Finance and Governance Profile: Tennessee

    Science.gov (United States)

    Krause, Mike

    2010-01-01

    This article presents the state education finance and governance profile of Tennessee. The 17th largest state, Tennessee is home to 2.01% of the nation's inhabitants. Funding of K-12 education in Tennessee is accomplished via a formula known as the Basic Educational Program (BEP). This plan primarily utilizes school district enrollment numbers to…

  4. Financing REDD: meshing markets with government funds

    Energy Technology Data Exchange (ETDEWEB)

    Viana, Virgilio M. [Amazonas Sustainable Foundation, Manaus (Brazil)

    2009-03-15

    Deforestation accounts for roughly 17 per cent of global greenhouse gas emissions. So it is no surprise that in the runup to the December 2009 climate talks in Copenhagen, REDD – reduced emissions from deforestation and degradation – is emerging as a strategy with big potential for mitigating climate impacts. With REDD, local communities can be rewarded for conserving their forests, so the approach works for poverty alleviation as well as emissions reduction. Evidence is showing that REDD is simple and workable. Funding is an altogether more complex issue, however. Looking at the roles of market and government, is a combined approach to financing REDD feasible?.

  5. 48 CFR 232.202-4 - Security for Government financing.

    Science.gov (United States)

    2010-10-01

    ... financing. 232.202-4 Section 232.202-4 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM, DEPARTMENT OF DEFENSE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Commercial Item Purchase Financing 232.202-4 Security for Government financing. (a)(2) When determining whether an offeror...

  6. 48 CFR 432.202-4 - Security for Government financing.

    Science.gov (United States)

    2010-10-01

    ... financing. 432.202-4 Section 432.202-4 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Commercial Item Purchase Financing 432.202-4 Security for Government financing. Prior to determining that an offeror's financial condition is adequate...

  7. Fiscal Federalism and Local Government Finance in Nigeria

    Science.gov (United States)

    Alo, Ejikeme Nonso

    2012-01-01

    Fiscal federalism deals with the sharing of resources in a federated nation. Over the years problems about local government finance have become an important aspect of intergovernmental relations. Constitutionally, local government is the third tier of government which exists as an independent entity, possessing some degree of autonomy and…

  8. Corporate governance, corporate finance and stock markets in emerging countries

    OpenAIRE

    Singh, Ajit

    2003-01-01

    This paper focuses on the inter-relationship between corporate governance, financing of corporate growth and stock market development in emerging countries. It explores both theoretically and empirically the nature of the inter-relationships between these phenomena, as well their implications for economic policy. It concentrates on how corporate growth is financed, an area where the literature has identified important anomalies in relation to corporate behaviour and governance. The paper prov...

  9. 12 CFR 987.2 - Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States...

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Law governing rights and obligations of Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks; rights of any Person against Banks, Finance Board, Office of Finance, United States and Federal Reserve Banks. 987.2 Section 987.2 Banks and Banking FEDERAL HOUSING FINANCE...

  10. Towards Transparency in Finance and Governance

    OpenAIRE

    Tara Vishwanath; Daniel Kaufmann

    2003-01-01

    The study of transparency is increasingly a more topical, broadly relevant, but also more under-researched enterprise. The Asian financial crisis has highlighted not only the welfare consequences of financial sector transparency, sparking a series of yet unresolved debates, but has also linked this relatively narrow problem to the broader context of transparency in governance. Its significance has broadened geographically as well as across different sectors. It has been observed that curtailm...

  11. Management and financing of e-Government projects in India: Does financing strategy add value?

    Directory of Open Access Journals (Sweden)

    Shashank Ojha

    2017-06-01

    Full Text Available How do managers structure e-government projects and address challenges of risks, lack of technical expertise, and mitigation of strategic error for preventing loss of investments? Our aim was to compare the traditional finance approach and the strategy-driven, innovative financing approaches under the PPP model, to examine their managerial value-addition. We found that e-government projects require a carefully crafted structuring strategy and that innovative financing is more suitable in facilitating flexible decision making, building core capabilities, managing and sharing project risks, providing funds needed for growth and innovation, and customising tailor-made project governance strategy. Based on our findings, we develop five theoretical propositions.

  12. Effect of Government-Community Healthcare Co-Financing on ...

    African Journals Online (AJOL)

    BACKGROUND: Effective maternal and child healthcare delivery requires a proper and adequate funding of the health sector. OBJECTIVE: To determine the effect of government-community healthcare co-financing on maternal and child healthcare services' delivery. METHODS: A descriptive, cross-sectional study with an ...

  13. 48 CFR 832.202-4 - Security for Government financing.

    Science.gov (United States)

    2010-10-01

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

  14. Government experience in nuclear power plant export financing

    International Nuclear Information System (INIS)

    Kalbitz, K.

    1976-01-01

    Because the long-term funds at the disposal of the commercial banks were insufficient to make available the amounts required for the exportation of nuclear power plants, it was necessary to make available long-term funds of the mortgage banks. On account of the strict regulations governing the lending operations of such banks, it was, however, necessary to introduce a Federal guarantee which covers 100% of the contract value in each case. On balance, however, the Federal Government does not take over any additional risks, because recourse may be taken to the commercial banks, which are liable for all additional payments under the credit arrangement having arisen from the improvement of the guarantee in favour of the mortgage banks. This has resulted in a considerable improvement of the export financing system which, of course, is for benefit of other major export projects too. (HP) [de

  15. EPIC Studies: Governments Finance, On Average, More Than 50 Percent Of Immunization Expenses, 2010-11.

    Science.gov (United States)

    Brenzel, Logan; Schütte, Carl; Goguadze, Keti; Valdez, Werner; Le Gargasson, Jean-Bernard; Guthrie, Teresa

    2016-02-01

    Governments in resource-poor settings have traditionally relied on external donor support for immunization. Under the Global Vaccine Action Plan, adopted in 2014, countries have committed to mobilizing additional domestic resources for immunization. Data gaps make it difficult to map how well countries have done in spending government resources on immunization to demonstrate greater ownership of programs. This article presents findings of an innovative approach for financial mapping of routine immunization applied in Benin, Ghana, Honduras, Moldova, Uganda, and Zambia. This approach uses modified System of Health Accounts coding to evaluate data collected from national and subnational levels and from donor agencies. We found that government sources accounted for 27-95 percent of routine immunization financing in 2011, with countries that have higher gross national product per capita better able to finance requirements. Most financing is channeled through government agencies and used at the primary care level. Sustainable immunization programs will depend upon whether governments have the fiscal space to allocate additional resources. Ongoing robust analysis of routine immunization should be instituted within the context of total health expenditure tracking. Project HOPE—The People-to-People Health Foundation, Inc.

  16. Adapting Total Quality Management (TQM) to Government.

    Science.gov (United States)

    Swiss, James E.

    1992-01-01

    Total quality management will not work well in government agencies because of stress on products, not services; on well-defined consumer groups; on inputs/processes, not results; and on preoccupation with quality. An effective revised version emphasizes client feedback, performance monitoring, continuous improvement, and worker participation. (SK)

  17. Solar Photovoltaic Financing: Deployment by Federal Government Agencies

    Energy Technology Data Exchange (ETDEWEB)

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

    2009-07-01

    The goal of this report is to examine how federal agencies can finance on-site PV projects. It explains state-level cash incentives available, the importance of solar renewable energy certificate revenues (in certain markets), existing financing structures, as well as innovative financing structures being used by federal agencies to deploy on-site PV. Specific examples from the DOD, DOE, and other federal agencies are highlighted to explain federal project financing in detail.

  18. Credit Risk Analysis of Local Government Financing Platform – An empirical study based on KMV model

    Directory of Open Access Journals (Sweden)

    Zhou Tingting

    2015-01-01

    Full Text Available The local government financing platform is set up by local government through state-owned assets, real estate and equity capital. The functions of these companies are financing, construction, operation, the repaying debts. The local government financing platform can broaden the financing channels of local government in a great extent; alleviate the pressure of capital requirement. But at the same time, with the gradual expansion of the scale of debt, a series of problems has arisen: the amount of financing platform companies is huge, debt repayment depends too much on real estate price, the integration of government administration with enterprise, capital injection, and accounts of these companies are not well exposed. Once these problems outbreak, it may cause a series of financial crises, thereby threaten the entire banking industry even the healthy development of the national economy.

  19. The Finance of Non Government Schools in Bangladesh.

    Science.gov (United States)

    Puttick, Edwin B.; And Others

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

  20. Power Elites and Club-Model Governance in Global Finance

    DEFF Research Database (Denmark)

    Tsingou, Eleni

    2014-01-01

    Contribution to the Forum: Unpacking the Deep Structures of Global Governance: How Transnational Professionals Can Make Global Governance Intelligible.......Contribution to the Forum: Unpacking the Deep Structures of Global Governance: How Transnational Professionals Can Make Global Governance Intelligible....

  1. Water institutions and governance models for the funding, financing ...

    African Journals Online (AJOL)

    2015-10-05

    Oct 5, 2015 ... pal level/sphere. Figure 1. Financial flows and water infrastructure in South Africa ... Furthermore, the research identified principal drivers for the funding and financing of water .... executive directors. Accounting, disclosure and.

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

    African Journals Online (AJOL)

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

  3. Philippine Corporate Governance : Environment and Policy and their Impact on Performance and Finance

    OpenAIRE

    Cesar G. Saldaña

    2000-01-01

    The Asian Development Bank initiated a study of Corporate Governance and Finance in Selected developing Member Countries in November 1998. The objectives of the study for the Philippines are to evaluate the history and current state of corporate governance in the Philippines; establish a sound analytic basis for policy and regulatory reform measures to strengthen corporate governance of Philippine companies and recommend reform measures for the Philippine government and the Bank. It analyzes ...

  4. 48 CFR 32.202-4 - Security for Government financing.

    Science.gov (United States)

    2010-10-01

    ... is upon, e.g., the work in process, the contractor's plant, or the contractor's inventory. Contracting officers may be flexible in the choice of assets. The contract must also give the Government a..., working capital loans, various lines of credit, and revolving credit arrangements. (c) Other assets as...

  5. Financing State Governments in Nigeria, 1980-2007 | Akujuobi ...

    African Journals Online (AJOL)

    State governments in Nigeria are saddled with a lot of responsibilities that are geared towards the development of their areas. To do this, they engage in expenditure profiles that are at times overwhelming, especially when compared with their limited financial resources. This problem of insufficient funding sources and ...

  6. Categorical Funds: The Intersection of School Finance and Governance

    Science.gov (United States)

    Smith, Joanna; Gasparian, Hovanes; Perry, Nicholas; Capinpin, Fatima

    2013-01-01

    How a state chooses to design its system of funding schools is ultimately a question of education governance, determining who--state policymakers, school districts, or school principals--gets to make the decisions about how and where funding is spent. States have two primary ways of funding schools: the foundation, or base funding that is intended…

  7. The effects of Global Fund financing on health governance in Brazil

    Science.gov (United States)

    2012-01-01

    Objectives The impact of donors, such as national government (bi-lateral), private sector, and individual financial (philanthropic) contributions, on domestic health policies of developing nations has been the subject of scholarly discourse. Little is known, however, about the impact of global financial initiatives, such as the Global Fund to Fight AIDS, Tuberculosis, and Malaria, on policies and health governance of countries receiving funding from such initiatives. Methods This study employs a qualitative methodological design based on a single case study: Brazil. Analysis at national, inter-governmental and community levels is based on in-depth interviews with the Global Fund and the Brazilian Ministry of Health and civil societal activists. Primary research is complemented with information from printed media, reports, journal articles, and books, which were used to deepen our analysis while providing supporting evidence. Results Our analysis suggests that in Brazil, Global Fund financing has helped to positively transform health governance at three tiers of analysis: the national-level, inter-governmental-level, and community-level. At the national-level, Global Fund financing has helped to increased political attention and commitment to relatively neglected diseases, such as tuberculosis, while harmonizing intra-bureaucratic relationships; at the inter-governmental-level, Global Fund financing has motivated the National Tuberculosis Programme to strengthen its ties with state and municipal health departments, and non-governmental organisations (NGOs); while at the community-level, the Global Fund’s financing of civil societal institutions has encouraged the emergence of new civic movements, participation, and the creation of new municipal participatory institutions designed to monitor the disbursement of funds for Global Fund grants. Conclusions Global Fund financing can help deepen health governance at multiple levels. Future work will need to explore how

  8. The effects of Global Fund financing on health governance in Brazil

    Directory of Open Access Journals (Sweden)

    Gómez Eduardo J

    2012-07-01

    Full Text Available Abstract Objectives The impact of donors, such as national government (bi-lateral, private sector, and individual financial (philanthropic contributions, on domestic health policies of developing nations has been the subject of scholarly discourse. Little is known, however, about the impact of global financial initiatives, such as the Global Fund to Fight AIDS, Tuberculosis, and Malaria, on policies and health governance of countries receiving funding from such initiatives. Methods This study employs a qualitative methodological design based on a single case study: Brazil. Analysis at national, inter-governmental and community levels is based on in-depth interviews with the Global Fund and the Brazilian Ministry of Health and civil societal activists. Primary research is complemented with information from printed media, reports, journal articles, and books, which were used to deepen our analysis while providing supporting evidence. Results Our analysis suggests that in Brazil, Global Fund financing has helped to positively transform health governance at three tiers of analysis: the national-level, inter-governmental-level, and community-level. At the national-level, Global Fund financing has helped to increased political attention and commitment to relatively neglected diseases, such as tuberculosis, while harmonizing intra-bureaucratic relationships; at the inter-governmental-level, Global Fund financing has motivated the National Tuberculosis Programme to strengthen its ties with state and municipal health departments, and non-governmental organisations (NGOs; while at the community-level, the Global Fund’s financing of civil societal institutions has encouraged the emergence of new civic movements, participation, and the creation of new municipal participatory institutions designed to monitor the disbursement of funds for Global Fund grants. Conclusions Global Fund financing can help deepen health governance at multiple levels. Future work

  9. The effects of Global Fund financing on health governance in Brazil.

    Science.gov (United States)

    Gómez, Eduardo J; Atun, Rifat

    2012-07-16

    The impact of donors, such as national government (bi-lateral), private sector, and individual financial (philanthropic) contributions, on domestic health policies of developing nations has been the subject of scholarly discourse. Little is known, however, about the impact of global financial initiatives, such as the Global Fund to Fight AIDS, Tuberculosis, and Malaria, on policies and health governance of countries receiving funding from such initiatives. This study employs a qualitative methodological design based on a single case study: Brazil. Analysis at national, inter-governmental and community levels is based on in-depth interviews with the Global Fund and the Brazilian Ministry of Health and civil societal activists. Primary research is complemented with information from printed media, reports, journal articles, and books, which were used to deepen our analysis while providing supporting evidence. Our analysis suggests that in Brazil, Global Fund financing has helped to positively transform health governance at three tiers of analysis: the national-level, inter-governmental-level, and community-level. At the national-level, Global Fund financing has helped to increased political attention and commitment to relatively neglected diseases, such as tuberculosis, while harmonizing intra-bureaucratic relationships; at the inter-governmental-level, Global Fund financing has motivated the National Tuberculosis Programme to strengthen its ties with state and municipal health departments, and non-governmental organisations (NGOs); while at the community-level, the Global Fund's financing of civil societal institutions has encouraged the emergence of new civic movements, participation, and the creation of new municipal participatory institutions designed to monitor the disbursement of funds for Global Fund grants. Global Fund financing can help deepen health governance at multiple levels. Future work will need to explore how the financing of civil society by the

  10. An Analysis of the International Proposals for Harmonization Accounts Statement and Government Finance Statistics

    OpenAIRE

    Andrei Razvan Crisan; Melinda Timea Fulop

    2014-01-01

    Considering the modern market requirements and the government in the last decade that require two information systems: accounting and statistic. In accordance with these requirements, we believe it is very important to analyze the harmonizing of the two systems between Government Finance Statistics (GFS), used in support of macroeconomic analysis and General Purpose Financial Reports (GPFR) according with International Public Sector Accounting Standards, used for making decisions and accounta...

  11. Red barons or robber barons? : governance and financing in Russian financial-industrial groups

    NARCIS (Netherlands)

    Perotti, E.C.; Gelfer, S.

    1999-01-01

    We study the governance role of Russian Financial-Industrial Groups (FIG) and their impact on financing of investment. We compare member firms of a group with a control set of large firms categorized by dispersed ownership or/and management and employee control. We find that investment is sensitive

  12. Red barons or robber barons? : governance and financing in Russian FIGS

    NARCIS (Netherlands)

    Perotti, E.C.; Gelfer, S.

    1999-01-01

    We study the governance role of Russian Financial-Industrial Groups (FIG) and their impact on financing of investment. We compare member firms of a group with a control set of large firms categorized by dispersed ownership or/and management and employee control. We find that investment is sensitive

  13. Internal corporate governance and the use of IPO over-financing: Evidence from China

    Directory of Open Access Journals (Sweden)

    Xin Xu

    2012-09-01

    Full Text Available In this paper, we describe how Shenzhen A-share listed companies used funds raised in over-financed IPOs during the 2006–2010 period. In exploring the relationship between internal corporate governance and the use of funds raised in over-financed IPOs, we find that the use of such funds to engage in severe over-investment behavior is prevalent among listed companies. Reasonable internal corporate governance mechanisms can effectively alleviate over-investment problems listed companies encounter in using funds raised in over-financed IPOs. However, the same individual serving as both chairman and CEO leads to funds raised in over-financed IPOs being over-invested. Moreover, executives driven by high levels of monetary compensation are more likely to use funds raised in such IPOs to engage in over-investment. We find that improving the balance of power between shareholders will help alleviate the over-investment of excess IPO funds. In addition, the over-investment problem is less severe in state-controlled listed companies than in their non-state-controlled listed counterparts. This study provides policy recommendations for Chinese securities regulators to ensure listed companies use funds raised in over-financed IPOs both rationally and effectively.

  14. Do Municipal Governments Need More Tax Powers? A Background Paper on Municipal Finance in Alberta

    Directory of Open Access Journals (Sweden)

    Melville McMillan

    2014-11-01

    Full Text Available Local governments in Alberta have faced considerable and variable challenges over the past 60 years. For example, the rapid population and economic growth during the 1950s, ’60s and ’70s created exceptional demands for schools, schooling and municipal infrastructure; demands exceeding those of the last 30 years. Local and especially municipal financing has relied heavily on the property tax throughout. Questions are being asked today about whether the property tax is sufficient for municipal government. Our historical analysis provides insights into the fiscal situation of Alberta’s municipalities that can assist in addressing those questions. The main findings are highlighted here. We conclude that current demands, though considerable, are not creating stress on the property tax as a source of municipal revenue. • The property tax burden in Alberta during the past decade is the lowest that it has been over the past 60 years. Presently, property taxes are about 3.5 per cent of personal income. They were as high as seven per cent during much of the 1960s and averaged in the four to five per cent range from 1950 to 2000. Local and provincial school taxes were responsible for most of the fluctuations in the property tax burden. Municipal property taxes ranged from two to three per cent of personal incomes and recently amounted to about 2.5 per cent, a level typical of that over the past 20 years. • Investment in local infrastructure has over the past 30 years been at half the rate of that of the previous 30 years. Only since 2006, with the assistance of provincial capital grants, has infrastructure spending shown upward movement. Capital spending lagged population growth for many years and probably contributed to a deterioration of infrastructure. • Municipal current or operating expenditures (about three-quarters of the total have been a declining share of personal incomes since the late 1980s and, since 2000, are a smaller share than

  15. 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.

  16. French government to trim direct stake in Total

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that the French government has decided to slash its direct stake in partly state owned oil company Total to 5% from 31.7%, a surprise move expected to raise 10 billion francs ($1.8 billion). At the same time, other state owned entities will be asked to boost their combined 2.2% stake in Total to 10%, leaving the government with a net 15% interest in Total vs. the current 34%. Initially, state owned insurance companies Groupe des Assurances Nationales and Assurances Generale de France will be asked to hike their stakes in Total, but others could be asked to join if needed to meet the 10% target. The government the its phase-down of participation in Total, established in 1924 to manage French interests in Iraq Petroleum Co., was prompted by the evolution of the oil context, which differs greatly from what had prompted a significant stake of the state in Total's capital

  17. Financing alternative energy projects: An examination of challenges and opportunities for local government

    International Nuclear Information System (INIS)

    Cheung, Grace; Davies, Peter J.; Trück, Stefan

    2016-01-01

    Local government in Australia has a strong collective capacity to reduce GHG emissions through policies, funding allocation to renewable energy projects and the delivery of programs and services. This study examines the institutional capacity of councils in Sydney and how this impacts on decisions to invest in alternative energy projects. We find greenhouse gas emission targets of councils are strongly aligned to national targets but do not reflect the local council's institutional capacity, political leadership or strategic priorities. Energy reduction projects are often identified and undertaken by environmental staff without support from financial staff or financial-evaluation tools. An absence of national guidelines to provide consistency in tracking and reporting limits cross-sector benchmarking. Street lighting contributes to a significant proportion of council's total electricity expenditure and GHG emission profile. Being highly regulated, existing contracts and the current practice of street lighting services limits the councils’ ability to reduce emissions. Based on our analysis we recommend a number of measures to overcome these constraints including the use of financial evaluation tools for small-scale renewable energy projects, a standardised national tracking and reporting platform to facilitate progress-reporting and meaningful comparative analysis between councils and policy reform to the regulation of street lighting. - Highlights: • Australian local government sector can influence up to 50% of GHG emissions. • Institutional capacity, finance, leadership and staff, influence GHG performance. • Monitoring GHG emissions is limited by a lack of national guidelines or protocols. • Environmental officers lack tools and support to assess GHG reduction projects. • Reducing GHG emissions from street lighting is a contested legal and policy area.

  18. Corporate governance and international business: Essays on multinational enterprises, ownership, finance and institutions

    OpenAIRE

    Rygh, Asmund

    2016-01-01

    This is an article based doctoral dissertation. Due to copyright matters, the attached pdf file only contains the mantel. This Thesis contributes to the literature on corporate governance in international business, with a focus on corporate ownership, corporate finance and institutions. It consists of five theoretical and empirical studies. Three studies focus on corporate ownership and consider, respectively, whether state ownership shields multinational enterprises (MNEs) from host-c...

  19. The exchange rate arrangements-government finance relationship and the impact on debt management

    OpenAIRE

    Silvia Trifonova; Milena Kovachevich

    2016-01-01

    The choice of exchange rate regime can have a significant impact on the development of the national economy, which affects the main economic indicators. Traditionally, researchers consider the effects of certain types of exchange rate regimes on economic indicators such as gross domestic product, inflation, current account, real exchange rate and investments, but is it possible that the exchange rate regime can also reflect the country's government finance and thus influence the management of...

  20. The exchange rate arrangements-government finance relationship and the impact on debt management

    Directory of Open Access Journals (Sweden)

    Silvia Trifonova

    2016-06-01

    Full Text Available The choice of exchange rate regime can have a significant impact on the development of the national economy, which affects the main economic indicators. Traditionally, researchers consider the effects of certain types of exchange rate regimes on economic indicators such as gross domestic product, inflation, current account, real exchange rate and investments, but is it possible that the exchange rate regime can also reflect the country's government finance and thus influence the management of public debt?

  1. 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...

  2. 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...

  3. Changing approaches to financing and financial management in the South African local government sector

    Directory of Open Access Journals (Sweden)

    D Sing

    2003-11-01

    Full Text Available Sections 152 and 153 of the Constitution of the Republic of South Africa, 1996 (Act 108 of 1996 have given local government a developmental mandate. Local government has a constitutional obligation to participate in national and provincial development programmes. Local government should become a powerful development catalyst in collaboration with other spheres of government, the non-governmental sector and the local citizenry. It has to address social, economic and infrastructural backlogs and inequalities in a stable and sustainable manner to ensure developmental outcomes are reached. Different financing and financial management policies, strategies, structures, processes and procedures have to be instituted with a view to transformation and innovation. Constant and consistent monitoring, analysis and evaluation of these policies, strategies structures, processes and procedures should ensure these constitutional imperatives.

  4. Raising Climate Finance from International Transport Sectors. Identification and Analysis of Governance Structures

    Energy Technology Data Exchange (ETDEWEB)

    Faber, J. [CE Delft, Delft (Netherlands); Pahuja, N.; Garg, A. [The Energy and Resources Institute TERI, New Delhi (India)

    2012-03-15

    Market based instruments (MBIs) for maritime transport have the potential to reduce emissions while at the same time raising funds for climate policies in developing countries. GHG emissions from international aviation and maritime transport accounted for approximately 5% of global anthropogenic emissions in 2005 and are rising rapidly. There is a clear need to address these emissions in order not to undermine policies for mitigating land based emissions. Developing countries need financial support to carry out climate policies, both adaptation and mitigation. The UN Framework Convention on Climate Change (UNFCCC) makes policies by developing countries conditional on climate finance. In the current economic and financial circumstances, there is a need for new sources of finance. The governance of such MBIs should ensure that they are neither an international tax nor require hypothecation of fiscal revenues, while they should provide new and additional finance. MBIs which are in fact an international tax would not be politically feasible, and likewise hypothecation would be opposed by many states. This report finds that an emissions trading scheme (ETS) can satisfy these criteria, provided that: (1) it transfers a share of allowances directly to developing countries in order to ensure there is no net incidence on them; developing countries could auction these allowances in order to raise revenue; (2) it transfers allowances to the Green Climate Fund to support climate policies; auctioning these allowances would provide revenues for the Fund; (3) it transfers allowances to IMO or another organisation in order to finance fuel-efficiency improvements in international transport.

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

    Energy Technology Data Exchange (ETDEWEB)

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

    1995-12-01

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

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

    International Nuclear Information System (INIS)

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

    1995-01-01

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

  7. 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...

  8. "Optimal Financing by Money and Taxes of Productive and Unproductive Government Spending: Effects on Economic Growth, Inflation, and Welfare"

    OpenAIRE

    David Alan Aschauer

    1998-01-01

    This paper contains an investigation of the effects of different means of financing government spending on economic growth, inflation, and welfare. In this setting, two different types of government spending are considered: productive expenditures which provide services to the private sector in its production activities; and unproductive expenditures which have no direct influence on the private economy. In turn, two different forms of finance are considered: proportional income taxation; and...

  9. 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...

  10. 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...

  11. Local Self-Government Financing and Costs of Municipality in Slovenia

    Directory of Open Access Journals (Sweden)

    Zan Jan OPLOTNIK

    2012-10-01

    Full Text Available This research paper focuses on the compliance of the actual system of financing local selfgovernment in Slovenia with the basic principles of the theory of decentralization and guidelines of the European Charter of Local Self-Government. It addresses the level of costs coverage within the municipal competence by using the allocated appropriate expenditure resources calculated according to the Law of Financing Municipality Act. The purpose of the paper is, therefore, to look for an answer to the question whether and to what extent the obtained funds correspond to the actual workload that municipalities have for performing statutory tasks and for exercising their competences. Analysis shows that, on an aggregate level, these actual systems ensure enough resources for local governments to cover their actual costs and current expenditures; some groups of municipalities, e.g. larger urban municipalities, municipalities with large proportions of elderly people etc. are faced with lack of funding, according to the actual costs data available, while other groups of municipalities receive more funds than they need.

  12. Restructuring brain drain: strengthening governance and financing for health worker migration.

    Science.gov (United States)

    Mackey, Tim K; Liang, Bryan A

    2013-01-15

    Health worker migration from resource-poor countries to developed countries, also known as ''brain drain'', represents a serious global health crisis and a significant barrier to achieving global health equity. Resource-poor countries are unable to recruit and retain health workers for domestic health systems, resulting in inadequate health infrastructure and millions of dollars in healthcare investment losses. Using acceptable methods of policy analysis, we first assess current strategies aimed at alleviating brain drain and then propose our own global health policy based solution to address current policy limitations. Although governments and private organizations have tried to address this policy challenge, brain drain continues to destabilise public health systems and their populations globally. Most importantly, lack of adequate financing and binding governance solutions continue to fail to prevent health worker brain drain. In response to these challenges, the establishment of a Global Health Resource Fund in conjunction with an international framework for health worker migration could create global governance for stable funding mechanisms encourage equitable migration pathways, and provide data collection that is desperately needed.

  13. Restructuring brain drain: strengthening governance and financing for health worker migration

    Directory of Open Access Journals (Sweden)

    Tim K. Mackey

    2013-01-01

    Full Text Available Background: Health worker migration from resource-poor countries to developed countries, also known as ‘‘brain drain’’, represents a serious global health crisis and a significant barrier to achieving global health equity. Resource-poor countries are unable to recruit and retain health workers for domestic health systems, resulting in inadequate health infrastructure and millions of dollars in healthcare investment losses. Methods: Using acceptable methods of policy analysis, we first assess current strategies aimed at alleviating brain drain and then propose our own global health policy based solution to address current policy limitations. Results: Although governments and private organizations have tried to address this policy challenge, brain drain continues to destabilise public health systems and their populations globally. Most importantly, lack of adequate financing and binding governance solutions continue to fail to prevent health worker brain drain. Conclusions: In response to these challenges, the establishment of a Global Health Resource Fund in conjunction with an international framework for health worker migration could create global governance for stable funding mechanisms encourage equitable migration pathways, and provide data collection that is desperately needed.

  14. 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…

  15. Local government finance: challenges in revenue-raising at the Municipal Corporation of Delhi

    Directory of Open Access Journals (Sweden)

    Simanti Bandyopadhyay

    2015-06-01

    Full Text Available The main objective of this paper is to examine the extent to which the capital city of Delhi has gained financial autonomy over the years. In order to better understand its progress, the paper compares the periods before and after the submission of the Third State Finance Commission Report of Delhi. The main findings suggest there have been some efforts to reduce reliance on transfers from upper tiers of government and to strengthen ‘own revenues’ atthe Municipal Corporation of Delhi (MCD. A greater diversification of tax and non-tax revenue sources is responsible for this improvement. In the second period, other tax sources such as corporation tax and electricity tax gained in importance.  Non-tax revenues were also strengthened by higher collection of certain components such as conversion charges. However, own revenues have been inadequate to meet growing expenditure requirements, resulting in high revenue expenditure gaps. Further, the growth in Gross State Domestic Product (GSDP has not led to a rise in own revenues for MCD.Rather, the paper finds that higher GSDP and its tertiary sector components are associated with higher expenditures in MCD. As far as local revenues are concerned, higher GSDP is associated with higher transfers, but has no discernible impact on own revenues. 

  16. The European fight against terrorism financing: Professional fields and new governing practices

    NARCIS (Netherlands)

    Wesseling, M.

    2013-01-01

    Combating the financing of terrorism has been a core component of the global War on Terror that began after the 9/11 terrorist attacks. This book shows how the fight against terrorism financing has taken shape and become important in Europe. An examination of two case studies - the EU’s Third

  17. Current Practices in Efficiency Financing: An Overview for State and Local Governments

    Energy Technology Data Exchange (ETDEWEB)

    Leventis, Greg [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Fadrhonc, Emily Martin [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Kramer, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goldman, Charles [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-11-01

    In recent years there has been significant growth in the size and sheer number of energy efficiency financing programs. The term “energy efficiency financing” refers to debt or debt-like products that support the installation of energy efficiency measures by allowing costs to be spread over time. The implementation of the American Recovery and Reinvestment Act (ARRA) led to a proliferation of energy efficiency financing programs, which was followed in subsequent years by the launch of green banks in several states and the ramp up of other ratepayer-supported financing initiatives in various jurisdictions. These activities have brought increased attention to energy efficiency financing as an area of programmatic interest. Yet the propagation of various types of financing in a growing number of markets may have also left some policymakers and program administrators with questions as to what categories of products and programs are best suited for their situation.

  18. Local Government Finance in Ghana: Disbursement and Utilisation of the MPs share of the District Assemblies Common Fund

    OpenAIRE

    Nana Nimo Appiah-Agyekum

    2013-01-01

    The establishment of the District Assembly Common Fund (DACF) in 1993 and concomitant percentage set aside for Members of Parliament (MPs) in 2004 aims to support local governments and legislators in pro-poor development activities in their communities and constituencies. In spite of the importance of the MPs’ share of the District Assemblies Common Fund (MPsCF) in financing local level development in Ghana, very little is known about monitoring systems and procedures on the disbursement and ...

  19. Impact of Corporate Governance on Diversification in Finance Companies: Evidence from Malaysia

    OpenAIRE

    KALLAMU, Basiru Salisu

    2016-01-01

    Abstract. The board of directors performs a very important role in formulating and monitoring the strategy of a company. Recent development in technology and the change in business environment as well as change in the nature of demand by customers has necessitated the change in the products and services offered by finance companies. Based on data from finance companies listed on Bursa Malaysia over the period 2007 to 2011 this paper examined the impact of board attributes and ownership struct...

  20. Financing power projects in emerging markets

    International Nuclear Information System (INIS)

    Matsumoto, G.T.

    1996-01-01

    Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)

  1. Finances and governance of urban local bodies: an approach of urban development perspective from a developing country (India

    Directory of Open Access Journals (Sweden)

    Suman PAUL

    2014-12-01

    Full Text Available With rapid urbanisation and the pressure on urban areas for service delivery, the role of urban local governments is undoubtedly becoming important and, here, their financial capacity can hold the key. At the same time, there are several issues in urban governance that need to be addressed yet. Delegation of decision making powers to urban local bodies (ULBs, which are traditionally considered as a part of the system of State government and acting on behalf of it, is one of them. The constitutional mechanisms like inter-governmental fiscal transfers were an attempt to reduce the gap of ULBs, but they were not effective in implementation at ground. It has become imperative now to understand the financial position of ULBs in order to move forward with the new means of fund flow. This paper presents a cross sectional analysis of the finance of 27 ULBs in North 24 Parganas District of West Bengal, India in terms of their financial base and its adequacy vis-à-vis norms, and their revenue and expenditure performance. Using certain ratios, the relative performance of municipalities on dependency measures was also assessed. The implications of finances of ULBs, in terms of raising resources, improving inter-governmental transfers and charting new mechanisms are also discussed. Lastly, an approach has been made to develop an index, i.e. Urban Governance Index (UGI to a better understanding of the per-capita expenditure scenario of ULBs.

  2. Evidence on equity, governance and financing after health care reform in Mexico: lessons for Latin American countries

    Directory of Open Access Journals (Sweden)

    Armando Arredondo

    2015-06-01

    Full Text Available This article includes evidence on equity, governance and health financing outcomes of the Mexican health system. An evaluative research with a cross-sectional design was oriented towards the qualitative and quantitative analysis of financing, governance and equity indicators. Taking into account feasibility, as well as political and technical criteria, seven Mexican states were selected as study populations and an evaluative research was conducted during 2002-2010. The data collection techniques were based on in-depth interviews with key personnel (providers, users and community leaders, consensus technique and document analysis. The qualitative analysis was done with ATLAS TI and POLICY MAKER softwares. The Mexican health system reform has modified dependence at the central level; there is a new equity equation for resources allocation, community leaders and users of services reported the need to improve an effective accountability system at both municipal and state levels. Strategies for equity, governance and financing do not have adequate mechanisms to promote participation from all social actors. Improving this situation is a very important goal in the Mexican health democratization process, in the context of health care reform. Inequality on resources allocation in some regions and catastrophic expenditure for users is unequal in all states, producing more negative effects on states with high social marginalization. Special emphasis is placed on the analysis of the main strengths and weaknesses, as relevant evidences for other Latin American countries which are designing, implementing and evaluating reform strategies in order to achieve equity, good governance and a greater financial protection in health.

  3. Determinants of government HIV/AIDS financing: a 10-year trend analysis from 125 low- and middle-income countries.

    Science.gov (United States)

    Ávila, Carlos; Loncar, Dejan; Amico, Peter; De Lay, Paul

    2013-07-19

    Trends and predictors of domestic spending from public sources provide national authorities and international donors with a better understanding of the HIV financing architecture, the fulfillment of governments' commitments and potential for long-term sustainability. We analyzed government financing of HIV using evidence from country reports on domestic spending. Panel data from 2000 to 2010 included information from 647 country-years amongst 125 countries. A random-effects model was used to analyze ten year trends and identify independent predictors of public HIV spending. Low- and middle-income countries spent US$ 2.1 billion from government sources in 2000, growing to US$ 6.6 billion in 2010, a three-fold increase. Per capita spending in 2010 ranged from 5 cents in low-level HIV epidemics in the Middle East to US$ 32 in upper-middle income countries with generalized HIV epidemics in Southern Africa. The average domestic public spending per capita was US$ 2.55. The analysis found that GDP per capita and HIV prevalence are positively associated with increasing levels of HIV-spending from public sources; a 10 percent increase in HIV prevalence is associated with a 2.5 percent increase in domestic funding for HIV. Additionally, a 10 percent increase in GDP per capita is associated with an 11.49 percent increase in public spending for HIV and these associations were highly significant. Domestic resources in low- and middle-income countries showed a threefold increase between 2000 and 2010 and currently support 50 percent of the global response with 41 percent coming from sub-Saharan Africa. Domestic spending in LMICs was associated with increased economic growth and an increased burden of HIV. Sustained increases in funding for HIV from public sources were observed in all regions and emphasize the increasing importance of government financing.

  4. A Capital-Financing Plan for School Systems and Local Government

    Science.gov (United States)

    Hodge, Penny

    2012-01-01

    School business officials are best equipped to lead in funding operating and capital needs because they understand the need for a methodical means of funding ongoing costs over time and the benefits of planning for future financial needs rather than letting emergencies dictate spending priorities. A capital-financing plan makes it possible to…

  5. 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

  6. The role of governance in corporate social responsibility : lessons from Dutch finance

    NARCIS (Netherlands)

    de Graaf, Frank Jan; Stoelhorst, Jan Willem

    This article extends the corporate social performance (CSP) model by studying the role of governance structures and governance systems in shaping corporate social responsibility. The authors argue that a governance perspective offers a fruitful research strategy both to study empirically how firms

  7. How and why do countries differ in their governance and financing-related administrative expenditure in health care? An analysis of OECD countries by health care system typology.

    Science.gov (United States)

    Hagenaars, Luc L; Klazinga, Niek S; Mueller, Michael; Morgan, David J; Jeurissen, Patrick P T

    2018-01-01

    Administration is vital for health care. Its importance may increase as health care systems become more complex, but academic attention has remained minimal. We investigated trends in administrative expenditure across OECD countries, cross-country spending differences, spending differences between health care system typologies, and differences in the scale and scope of administrative functions across typologies. We used OECD data, which include health system governance and financing-related administrative activities by regulators, governance bodies, and insurers (macrolevel), but exclude administrative expenditure by health care providers (mesolevel and microlevel). We find that governance and financing-related administrative spending at the macrolevel has remained stable over the last decade at slightly over 3% of total health spending. Cross-country differences range from 1.3% of health spending in Iceland to 8.3% in the United States. Voluntary private health insurance bears much higher administrative costs than compulsory schemes in all countries. Among compulsory schemes, multiple payers exhibit significantly higher administrative spending than single payers. Among single-payer schemes, those where entitlements are based on residency have significantly lower administrative spending than those with single social health insurance, albeit with a small difference. These differences can partially be explained because multi-payer and voluntary private health insurance schemes require additional administrative functions and enjoy less economies of scale. Studies in hospitals and primary care indicate similar differences in administrative costs across health system typologies at the mesolevel and microlevel of health care delivery, which warrants more research on total administrative costs at all the levels of health systems. Copyright © 2017 John Wiley & Sons, Ltd.

  8. Interactions between Corporate Governance, Bankruptcy Law and Firms Debt Financing: the Brazilian Case

    Directory of Open Access Journals (Sweden)

    Bruno Funchal

    2008-07-01

    Full Text Available This paper examines the relationship between corporate governance level and the bankruptcy law for such debt variables as firms’ cost of debt and amount (and variation of debt. Our empirical results are consistent with the model's prediction. First, we find that the better the corporate governance, the lower the cost of debt. Second, we find that better corporate governance arrangements relate to firms with higher amounts of debt. Finally we find that better governance and harsher bankruptcy laws have a positive effect on debt. Moreover, this effect is stronger for firms with worse corporate governance, which indicates that the law works as a substitute for governance practices to protect creditors' interests.

  9. Three essays in corporate finance: Examining the influence of government ownership and evaluating crude oil arbitrage

    Science.gov (United States)

    Holland, Kateryna

    The aim of this dissertation is twofold: first, to evaluate how governments influence firms in which they invest (chapters one and two), and second, to examine arbitrage in the crude oil market by investigating the relationship between crude oil inventories, physical prices, and financial prices (chapter three). In the first chapter (The Wealth Effects of Government Investment in Publicly Traded Firms), I study how government share ownership affects shareholder wealth. I find that government investments with higher likelihood of political interference have a negative influence on shareholder wealth, while the opposite is true for government investments with economic objectives. In the second chapter (Government Ownership and the Cost of Debt: Evidence form Government Investment in Publicly Traded Firms), I investigate how government share ownership affects the cost of debt of publicly traded firms. I find that government ownership generally leads to a higher cost of debt, except for times of economic and firm distress, when the value of the implicit government guarantee is associated with a reduction in the cost of debt. In the third chapter (Financial Trading, Spot Oil Prices, and Inventory: Evidence from the U.S. Crude Oil Market), I confirm the existence of an active cash and carry market in crude oil in Cushing, OK, the main U.S. crude oil futures settlement location. In other words, crude oil inventories in Cushing, but not in any other U.S. crude oil storage locations, are explained by the spread between the financial and the physical price of oil in addition to operational factors.

  10. Local Government Finance in Ghana: Disbursement and Utilisation of the MPs share of the District Assemblies Common Fund

    Directory of Open Access Journals (Sweden)

    Nana Nimo Appiah-Agyekum

    2013-05-01

    Full Text Available The establishment of the District Assembly Common Fund (DACF in 1993 and concomitant percentage set aside for Members of Parliament (MPs in 2004 aims to support local governments and legislators in pro-poor development activities in their communities and constituencies. In spite of the importance of the MPs’ share of the District Assemblies Common Fund (MPsCF in financing local level development in Ghana, very little is known about monitoring systems and procedures on the disbursement and utilization of the funds. The study therefore assessed qualitative data derived from interviews with officials from selected Local Government Authorities (LGAs as well as other key stakeholders in the disbursement and utilization of the fund. The study findings point to the absence of legislative instrument on the management of the MPsCF. Further, monitoring of the fund was a responsibility shared by the LGAs and other external stakeholders. Finally, the effectiveness of monitoring the disbursement and utilization of the MPsCF was strongly influenced by the relationship between the Chief Executive of the Local Government Authority (LGCE and MPs in the local government area.

  11. Financing State Governments in Nigeria, 1980-2007 (Pp. 204-215)

    African Journals Online (AJOL)

    Nekky Umera

    distribution function of economics and it concerns itself with the way in .... State governments should not be discriminatory in bringing to book ... Baumol, William J. (1965), Welfare Economics 2nd Ed., Cambridge , Harvard University Press.

  12. Corporate Governance Engineering of Islamic Banking and Finance: Tantangan Globalisasi Sistem Ekonomi dan Pasar Bebas

    Directory of Open Access Journals (Sweden)

    Budi Sukardi

    2013-05-01

    Full Text Available The development of Islamic banking indicated dynamic changes and rapid growth. Some countries such United States, United Kingdom, European Union, Canada, Singapore implemented the Islamic financial system. However, economic globalization, laissez-faire, and financial crisis that engulf Indonesia as consequence the lack of bankers commitment to corporate governance, regulation and supervision of the government,business climate of banking do not prioritize business ethics between investors and bankers. Emerging debate that the models of corporate governance developed in western countries can not applicable in Muslim countries, even countries with high levels of corruption. Both models oscillated to find solution in fulfill stakeholders which the principles of morality have been ignored. The Implementation of corporate governance became part of social responsibility, values, ethics and norms must be possessed by Islamic banking due to highly correlated with the organizational readiness and the alignment of management actions to satisfy and ser ve stakeholder needs ,giving an exclusive deals in compliance the justice of morality ,social welfare,economic and political system, corporate image and accountability in keeping the identity of Islam as a religion. Corporate governance became a value system in Islamic financial institutions which giving same legal protections to all stakeholders, it would have an impact the effectiveness, the sustainability of institutions and generate trust with security sense of the community ,financial efficiency ,fiscal and monetary policies resulting in financial equilibrium.

  13. Some considerations on Transparency, Accountability and Good Governance in Church Finances

    DEFF Research Database (Denmark)

    Christoffersen, Lisbet

    2013-01-01

    Also churches and religious communities need to be accountable for the ressources they are taking care of. Transparency and accountability both internally and externally seems inescapable, but also dimensions of good governance are relevant unless freedom of religion sets clear boundaries...

  14. The unstable core of global finance: contingent valuation and governance of international accounting standards

    NARCIS (Netherlands)

    Mügge, D.; Stellinga, B.

    2015-01-01

    Accounting standards are the foundations of the financial regulatory edifice, and global financial governance is no more stable than the asset valuations that feed it. Yet for two decades and up to this day, no international accounting rule for financial instruments - the bulk of banks' balance

  15. Who Pays the Property Tax? A New View. Studies of Government Finance Second Series.

    Science.gov (United States)

    Aaron, Henry J.

    This book considers the most common criticisms of the property tax as a source of government revenue and argues that, contrary to popular belief, empirical studies show that the property tax is probably a largely progressive tax. The author also examines common defects in property tax administration and concludes that these problems are remediable…

  16. Governance Issues in South East Asian Higher Education: Finance, Devolution and Transparency in the Global Era

    Science.gov (United States)

    Welch, Anthony

    2007-01-01

    Using Castells' four principal functions of universities, this article examines several key dilemmas relating to governance of higher education in SE Asia, (specifically Indonesia, Malaysia, Philippines, Thailand and Vietnam). While all five nations value universities highly, and aspire to widen access to higher education, none can provide public…

  17. 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.

  18. Making renewable energy competitive in India: Reducing financing costs via a government-sponsored hedging facility

    International Nuclear Information System (INIS)

    Farooquee, Arsalan Ali; Shrimali, Gireesh

    2016-01-01

    In India, a significant barrier to market-competitiveness of renewable energy is a shortage of attractive debt. Domestic debt has high cost, short tenors, and variable interest rates, adding 30% to the cost of renewable energy compared to renewable energy projects elsewhere. Foreign debt is as expensive as domestic debt because it requires costly market-based currency hedging solutions. We investigate a government-sponsored foreign exchange facility as an alternative to reducing hedging costs. Using the geometric Brownian motion (GBM) as a representative stochastic model of the INR–USD foreign exchange rate, we find that the expected cost of providing a currency hedge via this facility is 3.5 percentage points, 50% lower than market. This leads to an up to 9% reduction in the per unit cost of renewable energy. However, this requires the government to manage the risks related to unexpected currency movements appropriately. One option to manage these risks is via a capital buffer; for the facility to obtain India's sovereign rating, the capital buffer would need to be almost 30% of the underlying loan. Our findings have significant policy implications given that the Indian government can use this facility to make renewable energy more competitive and, therefore, hasten its deployment. - Highlights: • We analyze a government-sponsored foreign exchange facility in India. •We use geometric Brownian motion to represent the INR–USD exchange rate. •This facility can reduce the currency hedging costs by 50%. •This facility can reduce the levelized cost of renewable energy by 9%. •The capital buffer to reach India's sovereign rating is 30% of the original loan.

  19. Corporate Governance, Competition, and Finance: Re-thinking Lessons from the Asian Crisis

    OpenAIRE

    Jack Glen; Ajit Singh

    2005-01-01

    This paper critically examines the Greenspan-Summers-IMF thesis concerning the Asian crisis, which suggested that the fundamental causes of the Asian crisis lay in the microeconomic behavior of economic agents in these societies--in the Asian way of doing business. The paper concentrates on corporate governance and competition in emerging markets and outlines the international significance of these issues in the context of the New International Financial Architecture and the Doha Development ...

  20. Impact of Total, Internal and External Government Debt on Interest Rate in Pakistan

    OpenAIRE

    Perveen, Asma; Munir, Kashif

    2017-01-01

    The objective of the study is to examine impact of total, internal and external government debt on nominal interest rate in Pakistan. To attain these objectives, the study used annual time series data from 1973 to 2016. The study used loanable fund theory as theoretical model and ARDL bound testing approach for cointegration and Granger causality test to estimate the results. The results of the study found negative relation between total government debt, external debt and nominal interest rat...

  1. Financing Decisions of Companies Listed in the Different Segments of Corporate Governance of BM&FBovespa According to Pecking Order Theory

    OpenAIRE

    Tani, Bruna Bagalhi; Albanez, Tatiana

    2016-01-01

    Among the various theories about capital structure is Pecking Order theory, which establishes a hierarchy of preferences for sources of funding due to the existence of information asymmetry. In this paper, we seek to verify if this theory applies to the financing decisions of Brazilian companies that are listed in the different segments of corporate governance of BMF&Bovespa, analyzing whether, in the 2010-2014 period, a higher level of corporate governance implies lower adherence to this...

  2. Financing Decisions of Companies Listed in the Different Segments of Corporate Governance of BM&FBovespa According to Pecking Order Theory

    OpenAIRE

    Tani, Bruna Bagalhi; Albanez, Tatiana

    2016-01-01

    Among the various theories about capital structure is Pecking Order theory, which establishes a hierarchy of preferences for sources of funding due to the existence of information asymmetry. In this paper, we seek to verify if this theory applies to the financing decisions of Brazilian companies that are listed in the different segments of corporate governance of BMF&Bovespa, analyzing whether, in the 2010-2014 period, a higher level of corporate governance implies lower adherence to this the...

  3. Evolution and patterns of global health financing 1995-2014: development assistance for health, and government, prepaid private, and out-of-pocket health spending in 184 countries.

    Science.gov (United States)

    2017-05-20

    An adequate amount of prepaid resources for health is important to ensure access to health services and for the pursuit of universal health coverage. Previous studies on global health financing have described the relationship between economic development and health financing. In this study, we further explore global health financing trends and examine how the sources of funds used, types of services purchased, and development assistance for health disbursed change with economic development. We also identify countries that deviate from the trends. We estimated national health spending by type of care and by source, including development assistance for health, based on a diverse set of data including programme reports, budget data, national estimates, and 964 National Health Accounts. These data represent health spending for 184 countries from 1995 through 2014. We converted these data into a common inflation-adjusted and purchasing power-adjusted currency, and used non-linear regression methods to model the relationship between health financing, time, and economic development. Between 1995 and 2014, economic development was positively associated with total health spending and a shift away from a reliance on development assistance and out-of-pocket (OOP) towards government spending. The largest absolute increase in spending was in high-income countries, which increased to purchasing power-adjusted $5221 per capita based on an annual growth rate of 3·0%. The largest health spending growth rates were in upper-middle-income (5·9) and lower-middle-income groups (5·0), which both increased spending at more than 5% per year, and spent $914 and $267 per capita in 2014, respectively. Spending in low-income countries grew nearly as fast, at 4·6%, and health spending increased from $51 to $120 per capita. In 2014, 59·2% of all health spending was financed by the government, although in low-income and lower-middle-income countries, 29·1% and 58·0% of spending was OOP

  4. New Arenas of Engagement at the Water Governance-Climate Finance Nexus? An Analysis of the Boom and Bust of Hydropower CDM Projects in Vietnam

    NARCIS (Netherlands)

    Smits, M.; Middleton, C.

    2014-01-01

    This article explores whether new arenas of engagement for water governance have been created and utilised following the implementation of the Clean Development Mechanism (CDM) in large hydropower projects in Vietnam. Initial optimism for climate finance – in particular amongst Northern aid

  5. "Money in Finance"

    OpenAIRE

    L. Randall Wray

    2011-01-01

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

  6. 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.

  7. Is health care financing in Uganda equitable?

    Science.gov (United States)

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

    2009-10-01

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

  8. 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…

  9. Financing of sports clubs from the budget of local self-government units – ways to support and the study the interpretation of regulations

    Directory of Open Access Journals (Sweden)

    Jakub Rzeszowski

    2017-06-01

    Full Text Available The article characterises alternative methods of financing sports clubs. The text also presents the concept of a sports club as well as legal and organizational forms. The possibilities of raising funds were also discussed. The article highlights an importance of resources obtained by sports clubs from budgets of local self-government units. The summary concludes that sports clubs play a significant role and that without an appropriate financial support from local government units, the activities of these clubs would be constricted.

  10. 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...

  11. Government's nuclear draft budget for fiscal 1995 totals 480 billion yen, up 5.2%

    International Nuclear Information System (INIS)

    1995-01-01

    The Japanese government's nuclear draft budget for fiscal 1995 totals 480,756 million yen (excluding the nuclear-related budget for universities under the auspices of the Ministry of Education, Culture and Science), 5.2% increase from the last year. The figure can be broken down into 194,793 million yen general account mainly assigned to research and development projects, and 295,963 million yen special account for power resource development. The total nuclear-related draft budget can be broken down into 344,201 million yen (6.2% increase) for the Science and Technology Agency which governs the various projects on the research and utilization of nuclear energy, and 133,430 million yen (4.6% increase) for the Ministry of International Trade and Industry which controls the development of and the regulation concerning commercial nuclear power plants. As for other ministries, 3,909 million yen for the contribution to IAEA and 283 million yen for OECD/NEA are allocated to the Ministry of Foreign Affairs. The nuclear draft budget of other ministries and agencies than STA and MITI totals 5,443 million yen (3.8% increase over fiscal 1994). The details of the nuclear-related draft budget of STA and MITI are listed. (K.I.)

  12. Water institutions and governance models for the funding, financing and management of water infrastructure in South Africa

    CSIR Research Space (South Africa)

    Ruiters, Cornelius

    2015-10-01

    Full Text Available for the funding, financing and development of water infrastructure projects in South Africa, i.e. Model 1: direct fiscal (NRF) funding, Model 2: ring-fenced special purpose vehicle (SPV), Model 3: SPV housing dedicated water infrastructure cash-flows, Model 4...

  13. Total Quality Management (TQM) in Self-Financed Technical Institutions: A Quality Function Deployment (QFD) and Force Field Analysis Approach

    Science.gov (United States)

    Thakkar, Jitesh; Deshmukh, S. G.; Shastree, Anil

    2006-01-01

    Purpose: To explore the potential for adoption of TQM in self-financed technical institutions in the light of new demands and challenges posed by customers/students and society. Design/methodology/approach: The paper presents use of quality function deployment (QFD) which prioritizes technical requirements and correlates them with various…

  14. Financing a nuclear programme

    International Nuclear Information System (INIS)

    Cameron, R.

    2010-10-01

    Nuclear power plant construction projects have many characteristics in common with other types of large infrastructure investment, both within the power generation sector and elsewhere. However, nuclear power itself has special features that can make nuclear financing particularly challenging. These features include the high capital cost, the relatively long period required to recoup investments, the often controversial nature of nuclear projects. The need for clear solutions and financing schemes for radioactive waste management and decommissioning and the need for nuclear power plants to operate at high capacity factors, preferably under base load conditions. During the previous major expansion of nuclear power in the 1970 and 1980, many nuclear projects suffered very large construction delays and cost overruns. The legacy of such problems increases the risks perceived by potential investors. A recent study undertaken jointly by the Iea and the Nea showed that the competitiveness of nuclear power strongly depends on the cost of financing due to the high share of fixed capital costs in the total lifetime costs of nuclear power. A key issue in this context is the long-term predictability of carbon pricing arrangements, which, for the time being and despite positive evolutions in this respect, most notably in Europe, does not yet exist. This paper will consider how the risks can be mitigated and examine in detail various models for corporate finance and the role of government assistance in providing a suitable financial basis. (Author)

  15. DETERMINANTS OF WOMEN’S PARTICIPATION IN SELF HELP GROUP LED MICRO-FINANCING OF FARMS IN ISUIKWUATO LOCAL GOVERNMENT AREA OF ABIA STATE, NIGERIA

    Directory of Open Access Journals (Sweden)

    Chidozie Onyedikachi ANYIRO

    2014-10-01

    Full Text Available This research analyzed determinants of women’s participation in self help group-led micro-financing of farms in Isuikwuato Local Government Area of Abia State, Nigeria. The specific objectives were to; determine the level of women’s participation in self help group led micro financing of farms; determine the factors that influence women’s participation in self help group micro financing of farms; identify constraints of women participation in self help group micro financing of farms in the study area. Multistage random sampling technique was employed in collecting data from one hundred and twenty (120 members of women self help group using structured questionnaire. The data were analyzed using descriptive statistics, likert scale type and probit regression analysis. The research revealed that the women (respondents actively participated in self help group meetings ( = 3.07, financial and material contributions (= 3.33, self help group project (= 3.36 and recruitment of fresh members (= 3.16, because their calculated means were greater than the critical midpoint mean score (3.0. The study also showed that the women did not participate in committee membership ( = 2.54 and holding of official executive position (= 2.53 in self help group since the midpoint score (3.0 was greater than their calculated mean values. The result of probit regression analysis showed that women’s participation in self help group led micro financing of farms was influenced by household size, years of membership experience, access to credit, primary occupation, mode of entry and annual contribution. The model predicted 94.69 per cent of the sample correctly and posted a log likelihood value of -33.54958, a pseudo R2value of 0.3013 and a goodness of fit chi-square value of 32.10 which is statistically significant at 1.0% level. Meanwhile irregular monthly contribution and loan default were the major constraints of women’s participation in self help group led micro

  16. Financing nuclear power

    International Nuclear Information System (INIS)

    Sheriffah Noor Khamseah Al-Idid Syed Ahmad Idid

    2009-01-01

    Global energy security and climate change concerns sparked by escalating oil prices, high population growth and the rapid pace of industrialization are fueling the current interest and investments in nuclear power. Globally, a significant number policy makers and energy industry leaders have identified nuclear power as a favorable alternative energy option, and are presently evaluating either a new or an expanded role for nuclear power. The International Atomic Energy Agency (IAEA) has reported that as of October 2008, 14 countries have plans to construct 38 new nuclear reactors and about 100 more nuclear power plants have been written into the development plans of governments for the next three decades. Hence as new build is expected to escalate, issues of financing will become increasingly significant. Energy supply, including nuclear power, considered as a premium by government from the socio-economic and strategic perspective has traditionally been a sector financed and owned by the government. In the case for nuclear power, the conventional methods of financing include financing by the government or energy entity (utility or oil company) providing part of the funds from its own resources with support from the government. As national financing is, as in many cases, insufficient to fully finance the nuclear power plants, additional financing is sourced from international sources of financing including, amongst others, Export Credit Agencies (ECAs) and Multilateral Development Institutions. However, arising from the changing dynamics of economics, financing and business model as well as increasing concerns regarding environmental degradation , transformations in methods of financing this energy sector has been observed. This paper aims to briefly present on financing aspects of nuclear power as well as offer some examples of the changing dynamics of financing nuclear power which is reflected by the evolution of ownership and management of nuclear power plants

  17. Information financière, juste valeur et contrôle interne : La corporate governance comme illusion rationnelle ?

    OpenAIRE

    Jerman, Lambert

    2014-01-01

    Pour les principes dominants de la « bonne » gouvernance depuis le rapport Cadbury de 1992, le gouvernement d’entreprise se définit comme un conflit d’agence entre actionnaires et managers. L’information financière, avec la juste valeur, incarne alors un moyen privilégié de résoudre par la transparence et la discipline de dispositifs de contrôle interne cette opposition. La présente contribution se propose en conséquence de répondre à la question de recherche suivante : dans quelle mesure la ...

  18. Private financing and operation of a space station: Investment requirements, risk, government support and other primary business management considerations

    Science.gov (United States)

    Simon, M.

    1982-01-01

    Private investment in a manned space station is considered as an alternative to complete government sponsorship of such a program. The implications of manned space operations are discussed from a business perspective. The most significant problems and risks which would be faced by a private company involved in a space station enterprise are outlined and possible government roles in helping to overcome these difficulties suggested. Economic factors such as inflation and the rate of interest are of primary concern, but less obvious conditions such as antitrust and appropriate regulatory laws, government appropriations for space activities, and national security are also considered.

  19. Project Finance: Basic Components

    OpenAIRE

    Alfieri Li Ojeda, Jaime

    2015-01-01

    The natural speed of the contemporary world demands large investment projects which require specialized financial techniques such as Project Finance, defined as a fund to finance investment projects of great magnitude. Every Project Finance involves a wide range of elements such as promoters, government, contractors andsuppliers, among others, that will ensure project success. La rapidez del mundo contemporáneo exige que los grandes proyectos de inversión requieran de técnicas financieras ...

  20. Government Policy in England on the Financing of ITT: Value for Money or a Waste of Resources?

    Science.gov (United States)

    Hilton, Gillian L. S.

    2017-01-01

    A recent report by the National Audit Office (NAO, 2016) has criticised the Department of Education's organisation of Initial Teacher Training programmes in England as not providing value for money. This paper explores recent reports from government agencies, Parliament and the press on this issue. Further to this, leaders of various programmes…

  1. Constraints of green financing in the Netherlands. The lack of confidence of investors in the Dutch government

    International Nuclear Information System (INIS)

    2000-01-01

    The new fiscal policy in the Netherlands has consequences for investments in sustainable ('green') energy projects. A brief overview is given of the complaints of investors with respect to the Tax Plan of the Dutch government for the 21st century

  2. Financing Sustainable Development

    DEFF Research Database (Denmark)

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

    . 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?...

  3. Comparison of Cardiovascular Risk Screening Methods and Mortality Data among Hungarian Primary Care Population: Preliminary Results of the First Government-Financed Managed Care Program.

    Science.gov (United States)

    Móczár, Csaba; Rurik, Imre

    2015-09-01

    Besides participation in the primary prevention, screening as secondary prevention is an important requirement for primary care services. The effect of this work is influenced by the characteristics of individual primary care practices and doctors' screening habits, as well as by the regulation of screening processes and available financial resources. Between 1999 and 2009, a managed care program was introduced and carried out in Hungary, financed by the government. This financial support and motivation gave the opportunity to increase the number of screenings. 4,462 patients of 40 primary care practices were screened on the basis of SCORE risk assessment. The results of the screening were compared on the basis of two groups of patients, namely: those who had been pre-screened (pre-screening method) for known risk factors in their medical history (smoking, BMI, age, family cardiovascular history), and those randomly screened. The authors also compared the mortality data of participating primary care practices with the regional and national data. The average score was significantly higher in the pre-screened group of patients, regardless of whether the risk factors were considered one by one or in combination. Mortality was significantly lower in the participating primary practices than had been expected on the basis of the national mortality data. This government-financed program was a big step forward to establish a proper screening method within Hungarian primary care. Performing cardiovascular screening of a selected target group is presumably more appropriate than screening within a randomly selected population. Both methods resulted in a visible improvement in regional mortality data, though it is very likely that with pre-screening a more cost-effective selection for screening may be obtained.

  4. Clean Energy Finance Tool

    Science.gov (United States)

    State and local governments interested in developing a financing program can use this Excel tool to support energy efficiency and clean energy improvements for large numbers of buildings within their jurisdiction.

  5. E-government factors to reduce administrative and finance corruption in Arab countries: Case study Iraqi oil sector

    Science.gov (United States)

    Mohammed, M. A.; Eman, Y.; Hussein, A. H.; Hasson, A. R.

    2015-12-01

    Arab countries face the corruption issues in its several public organizations. The corruption in these countries is considered as the main challenge. The oil sector is one of the public sectors that have huge level of corruption. However, the Iraqi economy had become dependable on oil sector daring the last three decades, and on the contrary, of what other oil countries did. The capital is considered as one of the essential factor for economic development. The revenues of oil exports will stay the essential source for economic development in Iraq in the future in order to reduce being dependable on oil. Since the beginning of the 3rd thousands, the world witnessed great rise in the demand on oil, but the Iraqi exports of crude oil come to be less than its similarities in the seventeenths of last century. So our oil sector is still in need of deep study. This study focuses on technological technique that can make huge decrease for corruption in oil sector in Iraq. However, e-government is considered as the best techniques that can decrease the corruption. Thus, this study bases on challenges that effect on build successful e-government project in Iraqi oil industry.

  6. Financing Canadian international operations

    International Nuclear Information System (INIS)

    Beagle, G.

    1996-01-01

    A primer on financing international operations by Canadian corporations was provided. Factors affecting the availability to project finance (location, political risk), the various forms of financing (debt, equity, and combinations), the main sources of government backed financing to corporations (the International Finance Corporation) (IFC), the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the Overseas Property Insurance Corporation (OPIC), government or agency guarantees, political risk coverage, the use of offshore financial centres, and the where, when and how these various organizations operate, were reviewed. Examples of all of the above, taken from the experiences of Canadian Occidental Petroleum of Calgary in the U.S., in South America, in the Middle and Far East, and in Kazakhstan, were used as illustrations. figs

  7. The MTBE-plant at Kaarstoe, Norway. Consequences for industry and commerce, labour market and local government finance

    International Nuclear Information System (INIS)

    Stokka, A.; Nilssen, I.

    1995-05-01

    The paper discusses some of the results of a consequence analysis of the establishment of a MTBE-plant at Kaarstoe, Norway. The supplies from local subcontractors to the construction and operation of the plant are likely to be of the same extent as for previous constructions, but the supplies from the Norwegian industry will probably be less because of limited experience with petrochemistry. A high investment level offshore may lead to a shortage of some categories of Norwegian and local personnel during the construction. The number of people directly employed at the construction site plus the number of those throughout the Haugesund area who work for the plant may amount to 800-900 in 1994. During operation, the plant will employ 140-150 local people. For the local governments the plant implies considerable tax revenues: property tax, personal tax and corporation tax. 10 refs., 7 figs., 16 tabs

  8. Government Policy in England on the Financing of ITT: Value for Money or a Waste of Resources?

    Directory of Open Access Journals (Sweden)

    Gillian L. S. Hilton

    2017-05-01

    Full Text Available A recent report by the National Audit Office (NAO, 2016 has criticised the Department of Education’s organisation of Initial Teacher Training programmes in England as not providing value for money. This paper explores recent reports from government agencies, Parliament and the press on this issue. Further to this, leaders of various programmes for teacher training, including those run by a university, a School Centred Teacher Training organisation and a lead school in an Academy consortium, between them providing a wide variety of programmes, were questioned on the recent actions of the Department for Education and the National College for Teaching and Leadership with regard to how their actions have affected providing programmes for prospective teachers. The paper concludes that the NAO’s claim that the DfE is not providing value for money is correct and that in order to prevent further wastage a more measured and coherent approach to teacher training in England is required.

  9. City School District Reorganization: An Annotated Bibliography. Centralization and Decentralization in the Government of Metropolitan Areas with Special Emphasis on the Organization, Administration, and Financing of Large-City School Systems. Educational Research Series No. 1.

    Science.gov (United States)

    Rideout, E. Brock; Najat, Sandra

    As a guide to educational administrators working in large cities, abstracts of 161 books, pamphlets, papers, and journal articles published between 1924 and 1966 are classified into five categories: (1) Centralization versus decentralization, (2) local government, (3) metropolitan organization, (4) the financing of education, and (5) the…

  10. 48 CFR 12.210 - Contract financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract financing. 12.210... financing. Customary market practice for some commercial items may include buyer contract financing. The contracting officer may offer Government financing in accordance with the policies and procedures in part 32. ...

  11. 75 FR 29547 - Federal Acquisition Regulation; Information Collection; Contract Financing

    Science.gov (United States)

    2010-05-26

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

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

    African Journals Online (AJOL)

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

  13. Book Review of : The Theory of Corporate Finance

    OpenAIRE

    Georges Dionne

    2011-01-01

    The book proposes an original contribution to the economics and finance literature by developing the foundations of corporate finance. It also covers in detail various corporate governance issues faced by organizations. The common treatment of corporate finance and corporate governance started with the contribution of Williamson (Journal of Finance, 1988), who argued that corporate finance and corporate governance must be treated simultaneously because they are complementary. This book fills ...

  14. 48 CFR 32.104 - Providing contract financing.

    Science.gov (United States)

    2010-10-01

    ... financing. 32.104 Section 32.104 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.104 Providing contract financing. (a) Prudent contract financing can be a useful working tool in Government...

  15. Project financing

    International Nuclear Information System (INIS)

    Cowan, A.

    1998-01-01

    Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing

  16. Corporate finance

    OpenAIRE

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

    2011-01-01

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

  17. 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...

  18. Frontiers in Pension Finance

    NARCIS (Netherlands)

    Broeders, D.W.G.A.; Eijffinger, S.C.W.; Houben, A.

    2008-01-01

    How to deliver adequate pension benefits at reasonable costs is a huge challenge confronting our ageing societies. This book delivers a comprehensive overview of the latest insights into pension finance, pension system design, pension governance and risk based supervision. It combines

  19. Project finance in Eastern Europe

    International Nuclear Information System (INIS)

    Hart, R.C.

    1993-01-01

    A dysfunctional system of commercial, legal, and financial institutions is the primary problem facing the energy sectors in Eastern Europe. Generally, a major systemic transformation is well underway in the area and is already showing signs of success. The empty promise of export credit financing exerts a significant negative influence on this reform process. The discipline of project finance provides the best, if not the only, basis for financing the modernization of the Eastern European energy sector. An example is given of the Cracow Environmental Project, a modernization project. The power plant is a combined heat and power facility with 460 MW of electric capacity and 1450 MW of thermal energy capacity. Located near the center of Cracow, the plant burns hard coal and provides more than seventy percent of the central district heat consumed in the city. The scope of proposed improvements has changed from the addition of capacity to a combination of modernization and environmental retrofit of the existing plant. The total estimated cost of the improvements program is 150 million dollars. The project consists of three major elements. First, it has proposed and is in the process of restructuring the ownership of the power plant. Second, it is engaged in a major restructuring of the commercial arrangements that govern the operation of the plant. Finally, it is in the late stages of selecting an engineering, procurement, and construction consortium with which it will contract to design and make major improvements to the existing plant

  20. Project financing

    International Nuclear Information System (INIS)

    Alvarez, M.U.

    1990-01-01

    This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project

  1. From public to private climate change adaptation finance : Adapting finance or financing adaptation?

    NARCIS (Netherlands)

    Pauw, W.P.

    2017-01-01

    Private financing is the latest mark of the privatisation of global governance. The implementation of international agreements in the fields of environment, climate change and development has always been supported by public finance from developed countries. This tradition is broken by a

  2. Development assistance and climate finance

    OpenAIRE

    Arndt, Channing

    2015-01-01

    The distinction between development assistance and climate finance is driven by an optic of compensation largely derived from the 'polluter pays' principle. For practical as well as conceptual reasons, this principle provides a weak basis for climate finance. The distinction also cuts against the need to holistically consider developmental, adaptation, and mitigation policies and naturally focuses on government-to-government flows despite the manifest need to catalyse non-official sources of ...

  3. 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.

  4. Resolved, That the Federal Government Should Fully Finance a Defensible Minimum Education for All Children in the Public Schools. An Affirmative Position.

    Science.gov (United States)

    Hack, Walter G.

    This report discusses several kinds of Federal aid to education and decides that a Federal foundation program is the best type. Arguments in favor of such a program are that (1) contemporary societal problems require a national policy (including a federally financed education program), (2) equity of financial responsibility for the educational…

  5. 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.

  6. THE ANALYSIS OF NON PERFORMING FINANCING (NPF DETERMINANTS ON INDONESIAN ISLAMIC BANKING (PERIOD FROM JANUARY 2003 - MARCH 2013

    Directory of Open Access Journals (Sweden)

    Mohammad Nasih

    2013-07-01

    Full Text Available This project presents a summary of analysis on the factors affecting Non Performing Financing (NPF of Sharia banking in Indonesia, namely Economic Performance (EK, Total Financing (FIN, Finance Rate (FR, Dummy Global Financial Crisis (D07 and Inflation Rate (INF.The method employed was Cointegration Test where the data used derived from January 2003 to March 2013 monthly data. The statistical analysis results showed that each of independent variables significantly influence the growth of NPF (non-performing financing of Sharia banking in Indonesia. Additionally, the study gave the implication that Islamic banking should apply prevention methods and prudence principles appropriately in providing finance to clients in order to avoid high NPF in Islamic banking. Afterward, the Government, as the highest authority of banking institution, was expected to support the sharia banking financing by establishing an independent agency to help the bank assessing the feasibility of the proposed candidates who would receive financing assistance from sharia banking

  7. 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...

  8. Impact of Digital Finance on Financial Inclusion and Stability

    OpenAIRE

    Ozili, Peterson Kitakogelu

    2018-01-01

    This article provides a discussion on some issues associated with digital finance – an area which has not been critically addressed in the literature. Digital finance and financial inclusion has several benefits to financial services users, digital finance providers, governments and the economy; notwithstanding, a number of issues still persist which if addressed can make digital finance work better for individuals, businesses and governments. The digital finance issues discussed in this arti...

  9. Financing Innovation

    OpenAIRE

    William R. Kerr; Ramana Nanda

    2014-01-01

    We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and h...

  10. Research on Governance Effects of Debt Financing in the Perspective of Contract Theory%契约论视阈下债务融资治理效应研究

    Institute of Scientific and Technical Information of China (English)

    吴秋生; 敖小波

    2014-01-01

    This paper builds multiple regression models to study the corporate governance effects of debts using Chinese listed companies'data.The empirical result shows that corporate debt financing has no motivational and constraining impacts on management,cannot reduce the a-gency costs or improve corporation's performance.In other words,debt financing does not exert its proper governance effects.%以我国沪深两市的 A股上市公司为研究样本,运用契约理论,通过构建多元回归模型,对公司债务融资的治理效应进行实证研究。研究表明,我国上市公司的债务融资并不能对管理层发挥很好的激励和约束作用,从而不能显著地降低公司的代理成本,也没有提高公司绩效,即公司债务融资契约没有发挥出其应有的治理效应。

  11. Role of E-Payment System in Promoting Accountability in Government Ministries as Perceived by Accounting Education Graduates and Accountants in Ministry of Finance of Ebonyi State

    Science.gov (United States)

    Azih, Nonye; Nwagwu, Lazarus

    2015-01-01

    This paper identified the role of electronic payment system in promoting accountability in government ministries as well as the challenges facing the implementation of e-payment in government ministries in Ebonyi State. The study was guided by two research questions and two hypotheses. The population of the study comprised of 112 accountants as…

  12. Financing the Ranger uranium project

    International Nuclear Information System (INIS)

    Hodge, S.J.; Miskelly, N.

    1983-01-01

    Construction of the Ranger uranium project located 230 km east of Darwin in the Northern Territory commenced in January 1979. Energy Resources of Australia Ltd was incorporated in February 1980 to acquire all the rights in the project. The total cost to ERA of these rights was $407 million. In October 1980 ERA'S cash requirements were estimated to be $553 million. Overseas participants (power utilities who had agreed to purchase uranium yellowcake under contract) arranged to take up 25% of the equity capital, Peko-Wallsend Ltd and EZ Industries Ltd were allotted 30.5% each and 14% was issued to Australian residents. The loan and equity financing arrangements required the successful resolution of many complex and interlocking factors, including technical and economic feasibility, agreement with aboriginal interests, compliance with Government policies and securing of sales contracts

  13. 48 CFR 32.102 - Description of contract financing methods.

    Science.gov (United States)

    2010-10-01

    ... financing methods. 32.102 Section 32.102 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.102 Description of contract financing methods. (a) Advance payments are advances of money by the Government to a...

  14. Quantitative Finance

    Science.gov (United States)

    James, Jessica

    2017-01-01

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

  15. Corporate Governance

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

    Andy Knight; David Malone; Faith Mitchell. Finance and Audit Committee. Members: Denis Desautels (Chairman); Ahmed Galal;. Frieda Granot; Elizabeth Parr-Johnston; Andrés Rozental;. Gordon Shirley. Governance Committee. Members: The Honourable Barbara McDougall (Chairman);. Claude-Yves Charron; Denis ...

  16. 360度绩效考评在政府财政绩效管理中的应用%The Application of 360-degree Feedback in the Government Finance Performance

    Institute of Scientific and Technical Information of China (English)

    邓洁

    2012-01-01

    基于目前我国财政绩效管理中存在着资金管理效益低下、绩效考评主体单一、监督机制缺失等问题,分析将360度绩效考评方法引入财政绩效管理中的优势,具体表现为:信息充足、可信度高、有利于提高政府行政能力和增强大众监督。从主体确定、权重设计、实施步骤三个方面探讨360度财政绩效考评框架,提出在应用中应创造和谐氛围、加强主体培训、充分利用网络引入媒体监督等对策建议。%There are some problems in the government finance performance,such as inefficient fund management,unitary evaluation subject,and lack of supervision mechanism.In view of these problems,the paper analyzes the advantages of 360-degree feedback being introduced into the government finance performance.Its advantages are: adequate in information,high in credibility,and beneficial for government executive ability improvement and public supervision enhancement.The paper discusses the basic performance appraisal framework from the aspects of subject deciding,weight design and implementation steps,and then offers some proposals for the application,such proposals as creating a harmonious atmosphere,strengthening subject training,and introducing media supervision by making full use of Internet.

  17. Corporate Finance and Comparative Advantage

    OpenAIRE

    Peter Egger; Christian Keuschnigg

    2009-01-01

    Since innovative firms are often financially constrained, access to external funds is important for the expansion of innovative industries. This paper reports four important results. First, comparative advantage is shaped by factor endowments as well as fundamental determinants of corporate finance. In particular, a larger equity ratio of firms and tough governance standards relax finance constraints and create a comparative advantage in innovative industries. Second, factor price equalizatio...

  18. Financing universal coverage in Malaysia: a case study.

    Science.gov (United States)

    Chua, Hong Teck; Cheah, Julius Chee Ho

    2012-01-01

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

  19. 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

  20. Financing Vidalia

    International Nuclear Information System (INIS)

    Lagassa, G.

    1991-01-01

    This article examines the innovative techniques the participants in the Vidalia, Mississippi hydropower project used to overcome the numerous obstacles to the financing of the project. The topics of the article are early obstacles, funding and permitting, hydrology questions, matching income to debt, unorthodox provisions and a tough closing

  1. HEALTH & FINANCE

    African Journals Online (AJOL)

    HEALTH & FINANCE. Patrick Thokwa Masobe. Patrick Thokwa Masobe completed his undergraduate studies at Grinnel/. University in the USA, and a Master. Degreefrom the University of London in. 1995. He is wrrently employed by the national Department of Health, where he led the task team charged with making.

  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. 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 ...

  4. Finance and Industrial Dynamics (In French)

    OpenAIRE

    Claude DUPUY (GREThA UMR CNRS 5113); Matthieu MONTALBAN (GREThA UMR CNRS 5113); Sylvain MOURA (GREThA UMR CNRS 5113)

    2009-01-01

    The transformations of the finance sector linked to the emergence of new actors (pension funds, mutual funds, hedge funds…) and its globalization have changed the rules of corporate governance and the competitive context of industrial companies. The theme of the influence between finance and industry is not new in the economic literature. The first thesis of the influence of finance on industry born in the United States (with the Veblen thesis) and Europe (Hilferding, 1910) with the developme...

  5. Analysis of health promotion and prevention financing mechanisms in Thailand.

    Science.gov (United States)

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

    2017-08-01

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

  6. De Ratio van Corporate Governance

    NARCIS (Netherlands)

    A. de Jong (Abe)

    2006-01-01

    textabstractAbe de Jong (1970) is Professor in Corporate Finance and Corporate Governance at RSM Erasmus University. He obtained a PhD in finance at Tilburg University (1999). His research and teaching interests are in the area of empirical corporate finance and include capital structure choice,

  7. Innovative financing techniques for nuclear power exports

    International Nuclear Information System (INIS)

    Mercaldo, E.L.

    1983-06-01

    The author makes general comments regarding the possible conflict between project risks, sponsors' ability to assume these risks, and the requirements and objectives of all project benficiaries: sponsors, lenders, consumers and government. To reconcile these conflicts there is an increasing use of project finance techniques to finance large capital projects

  8. Welfare financing : Grant allocation and efficiency

    NARCIS (Netherlands)

    Toolsema-Veldman, Linda; Allers, M.A.

    2012-01-01

    Welfare is often administered locally, but financed through grants from the central government. This raises the question how the central government can prevent local governments from spending more than necessary. Block grants are more efficient than matching grants, because the latter reduce the

  9. Welfare Financing : Grant Allocation and Efficiency

    NARCIS (Netherlands)

    Toolsema, L.A.; Allers, Maarten A.

    Welfare is often administered locally, but financed through grants from the central government. This raises the question how the central government can prevent local governments from spending more than necessary. We analyze block grants used in The Netherlands, which depend on exogenous spending

  10. Nuclear industry (Finance) Act 1981

    International Nuclear Information System (INIS)

    1981-01-01

    The purpose of the Act is to enable British Nuclear Fuels Limited to make borrowings backed by Government guarantees in order to finance its ten year investment programme. More specifically, the Act raises the financial limit applicable to British Nuclear Fuels Limited from pound 500 million to pound 1,000 million. (NEA) [fr

  11. Financing the UK's renewable energy boom

    International Nuclear Information System (INIS)

    Lindley, D.

    1996-01-01

    The opportunity to invest in and operate renewable energy power projects in the United Kingdom is the result of the financial measures established by the Electricity Act 1989, which created the Non-Fossil Fuel Obligation. In the three different orders specified so far, approximately 1400 MW (declared net capacity) of contracts have been awarded to schemes generating electricity from wind, hydro, landfill gas, sewage gas, waste combustion and other combustion (using forestry wastes and biomass) schemes. The majority of projects that have become operational so far have been financed either on 'balance sheet' or by a combination of non-recourse or limited recourse project loans and investor equity. In order to fulfil the government's goal to have 1500 MW (declared net capacity) of electricity from renewables by 2000 and a total investment of in excess of 1.5 billion pounds will be required. This paper reviews the terms of the Non Fossil Fuel Obligation, gives details of contracts awarded so far, reviews the financing methods used, summarises the project risk and the means of mitigation and provides case histories of several different renewable energy projects financed in the UK. (author) 11 tabs., 10 refs

  12. The Financing of Media Projects for Development.

    Science.gov (United States)

    Spain, Peter L.

    1978-01-01

    Discusses the financing of Third World media projects that are designed for development, and reports on five main sources of funding--government sources, international agencies, advertising sales, private local support, and self-support. (Author/JEG)

  13. Project Financing

    OpenAIRE

    S. GATTI

    2005-01-01

    Στην εισαγωγή της παρούσας εργασίας δίνεται ο ορισμός του project financing, τα ιστορικά στοιχεία και οι τάσεις αγοράς του. Στο πρώτο κεφάλαιο αναφέρεται γιατί οι εταιρείες προτιμούν την χρηματοδότηση με project financing. Γίνεται λόγος για τα πλεονεκτήματά του έναντι της άμεσης χρηματοδότησης, καθώς και για τα μειονεκτήματα του project financing. Στο δεύτερο κεφάλαιο παρουσιάζονται τα χρηματοοικονομικά στοιχεία και ο ρόλος του χρηματοοικονομικού συμβούλου. Στην τρίτη ενότητα γίνεται η αναγνώ...

  14. Division of Finance Homepage

    Science.gov (United States)

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

  15. The financing of new mining ventures

    International Nuclear Information System (INIS)

    Etheredge, D.A.; Lilja, J.R.

    1983-01-01

    Various options are presented for tackling the problem in mining today of the high capital costs required for a new mine combined with the front end exposure that the exploiters face. Equity finance from the producers, private investors, oil companies, consumers and governments is discussed as well as loan finance from export credit agencies, international agencies, production-related loans, leasing and commercial bank loans. The future in financing mining is outlined and it is proposed that the future will lie in smaller projects financed primarily with equity. (U.K.)

  16. Complications in financing new nuclear power plants

    International Nuclear Information System (INIS)

    Rubow, L.; Bataklieva, L.

    2011-01-01

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

  17. THE FINANCING OF HEALTH CARE IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Liliia Savchuk

    2016-03-01

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

  18. 31 CFR 210.3 - Governing law.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Governing law. 210.3 Section 210.3 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE FEDERAL GOVERNMENT PARTICIPATION IN THE AUTOMATED...

  19. 7 CFR 22.306 - Financing rural development planning.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Financing rural development planning. 22.306 Section... Responsibilities of State Governments § 22.306 Financing rural development planning. States will be required to finance rural development planning through their own resources, revenue-sharing allocations, or the...

  20. Creative Bus Financing.

    Science.gov (United States)

    Malone, Wade

    1982-01-01

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

  1. Finance and Management Services

    Science.gov (United States)

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

  2. Financing public healthcare institutions in Ghana.

    Science.gov (United States)

    Akortsu, Mercy Akosua; Abor, Patience Aseweh

    2011-01-01

    The financing of healthcare services has been of a major concern to all governments in the face of increasing healthcare costs. For developing countries, where good health is considered a poverty reduction strategy, it is imperative that the hospitals used in the delivery of healthcare services are well financed to accomplish their tasks. The purpose of this paper is to examine how public hospitals in Ghana are financed, and the challenges facing the financing modes adopted. To achieve the objectives of the study, one major public healthcare institution in Ghana became the main focus. The findings of the study revealed that the main sources of financing the public healthcare institution are government subvention, internally-generated funds and donor-pooled funds. Of these sources, the internally generated fund was regarded as the most reliable, and the least reliable was the donor-pooled funds. Several challenges associated with the various financing sources were identified. These include delay in receipt of government subvention, delay in the reimbursement of services provided to subscribers of health insurance schemes, influence of government in setting user fees, and the specifications to which donor funds are put. The findings of this study have important implications for improving the financing of public healthcare institutions in Ghana. A number of recommendations are provided in this regard.

  3. Financing strategy for Indonesian Nuclear Power Project

    International Nuclear Information System (INIS)

    Subki, I.M.; Arbie, B.; Adiwardojo; Seotrisnanto, A.Y.

    1998-01-01

    In anticipation of the introduction in the early 2000s of a nuclear power plant, the Government of Indonesia (GOI), through the National Atomic Energy Agency (BATAN) , has formulated a Bid Invitation Specification (BIS) in parallel with the completion of the NPP Feasibility Study. This BIS formulation assumed an open international tender for the first unit of the NPP with project financing as a conventional loan. The GOI's recent policy is to minimize government financial support for power development. This paper summarizes a financing strategy for the Indonesian NPP project to make the NPP economically viable, and provides a general discussion on project financing using a conventional approach, Build--Own-Operate (BOO) and a counter-purchase approach. Innovative approaches for financing are still being pursued in order to obtain an optimum solution for investors and owners, to fulfill the Indonesian government's requirements. (author)

  4. Intervention of Mr Nicolas Sarkozy, Government minister, minister of economy, finances and industry. Energy debate - Thursday April 15, 2004 - French house of commons; Intervention de M. Nicolas Sarkozy, ministre d'Etat, ministre de l'economie, des finances et de l'industrie. Debat sur l'energie - jeudi 15 avril 2004 - assemblee nationale

    Energy Technology Data Exchange (ETDEWEB)

    Sarkozy, N.

    2004-04-01

    In this talk, the French minister of economy, finances and industry recalls, first, some important key dates of the French energy history (creation of the French electric and gas utilities (EdF and GdF) in 1946, first petroleum shock in 1973 and the start-up of the French nuclear program) and then, presents the present day energy policy and the constraints that control the French energy choices: the lack of oil and gas resources in the French territory, and the problem of the global warming. According to these constraints, the French government has defined 4 main axes: energy mastery (thermal insulation of buildings, abatement of road speed limits, development of railway and river transport, financial incentives), development of renewable energy sources, renewal of the nuclear park with the launching of the European Pressurized reactor (EPR), and development of research programs in the domain of energy. The last part presents the new European framework of the French energy policy with the change of EdF and GdF juridical statuses and the progressive convergence of the different European energy policies towards a common model. (J.S.)

  5. Financing energy projects: experience of the International Finance Corporation

    International Nuclear Information System (INIS)

    Bond, Gary; Carter, Laurence

    1995-01-01

    This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)

  6. 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.

  7. Financing nuclear programmes in developing countries

    International Nuclear Information System (INIS)

    McKenzie, N.C.

    1977-01-01

    The following topics are discussed: the implications for a developing nation's economy of acquiring nuclear plants with the attendant high capital cost but low operating cost; political factors and safeguards provisions; turnkey versus non-turnkey contracts; spreading exchange and other risks through multi-national consortia; maximising local content; cash flow considerations; availability of aid or other direct government to government loans; packaging of export finance from different countries; downpayments and local costs; eurodollar markets, bank syndications and bond issues, and domestic markets; available security, central bank or government guarantees; special considerations, barter deals, leasing, and finance for the fuel cycle

  8. Financing nuclear programmes in developing countries

    International Nuclear Information System (INIS)

    McKenzie, N.C.

    1977-01-01

    The paper discusses the following topics: The implications for a developing nation's economy of acquiring nuclear plants with the attendant high capital cost but low operating cost; political factors and safeguards provisions; turnkey versus non-turnkey contracts; spreading exchange and other risks through multi-national consortia; maximizing local content; cash flow considerations; availability of aid or other direct government to government loans; packaging of export finance from different countries; downpayments and local costs; Eurodollar markets, bank syndications and bond issues, domestic markets; available security, central bank or government guarantees; special considerations, barter deals, leasing; and finance for the fuel cycle. (author)

  9. Nuclear fuel financing

    International Nuclear Information System (INIS)

    Lurf, G.

    1975-01-01

    Fuel financing is only at its beginning. A logical way of developing financing model is a step by step method starting with the financing of pre-payments. The second step will be financing of natural uranium and enrichment services to the point where the finished fuel elements are delivered to the reactor operator. The third step should be the financing of fuel elements during the time the elements are inserted in the reactor. (orig.) [de

  10. Assessing income redistributive effect of health financing in Zambia.

    Science.gov (United States)

    Mulenga, Arnold; Ataguba, John Ele-Ojo

    2017-09-01

    Ensuring an equitable health financing system is a major concern particularly in many developing countries. Internationally, there is a strong debate to move away from excessive reliance on direct out-of-pocket (OOP) spending towards a system that incorporates a greater element of risk pooling and thus affords greater protection for the poor. This is a major focus of the move towards universal health coverage (UHC). Currently, Zambia with high levels of poverty and income inequality is implementing health sector reforms for UHC through a social health insurance scheme. However, the way to identify the health financing mechanisms that are best suited to achieving this goal is to conduct empirical analysis and consider international evidence on funding universal health systems. This study assesses, for the first time, the progressivity of health financing and how it impacts on income inequality in Zambia. Three broad health financing mechanisms (general tax, a health levy and OOP spending) were considered. Data come from the 2010 nationally representative Zambian Living Conditions and Monitoring Survey with a sample size of 19,397 households. Applying standard methodologies, the findings show that total health financing in Zambia is progressive. It also leads to a statistically significant reduction in income inequality (i.e. a pro-poor redistributive effect estimated at 0.0110 (p taxes (0.0101 (p taxes. This points to areas where government policy may focus in attempting to reduce the high level of income inequality and to improve equity in health financing towards UHC in Zambia. Copyright © 2017 Elsevier Ltd. All rights reserved.

  11. Attracting finance for hydroelectric power

    International Nuclear Information System (INIS)

    Besant-Jones, John

    1996-01-01

    Hydroelectricity will continue to be important for meeting power requirements in developing countries. Much of the funding required for hydroelectric projects must come from non-government source; hydroelectric projects will therefore need to be attractive to private investors. This note explores the risks investors face, how this can be mitigated, and how the World Bank group can offer advice (as well as finance) to member countries to facilitate investment in hydro electric projects. 3 refs., 1 fig

  12. INVESTMENT FINANCING THROUGH THE "PROJECT FINANCE"

    OpenAIRE

    Molina Arenaza, Hércules; Del Carpio Gallegos, Javier

    2014-01-01

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

  13. ALTERNATIVE MODELS OF FINANCING REGIONAL DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Cristina, GRADEA

    2013-12-01

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

  14. Financing and organisation of veterinary services.

    Science.gov (United States)

    Gallacher, M; Barcos, L

    2012-08-01

    This paper analyses the different ways of financing official Veterinary Services (VS) and the effects of these choices on the performance of such Services. The links between governance, organisational effectiveness and financing arrangements are seen as particularly important. The paper comments on some of the advantages and disadvantages of financing VS with service fees, as compared to budget transfers from general government revenues. Evidence is presented on the considerable heterogeneity in the size of VS and on the impact of this heterogeneity on organisation and financing. The paper concludes with a stylised case study, which emphasises the importance of collaboration and the division of labour between the official and the private sector of the veterinary profession.

  15. SOURCES OF FINANCING INDUSTRIAL COMPLEX ENTERPRISES

    Directory of Open Access Journals (Sweden)

    Anzhela Zakhitovna Namitulina

    2016-01-01

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

  16. The Economics of Islamic Finance and Securitization

    OpenAIRE

    Andreas Jobst

    2007-01-01

    Islamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and specific credit participation in identified business risk, structuring shariah-compliant securitization seems straightforward. This paper explains the fundamental legal principles of Islamic finance, which includes the presentation of a valuation model that he...

  17. 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.

  18. Financing Strategies for Nuclear Fuel Cycle Facility

    International Nuclear Information System (INIS)

    David Shropshire; Sharon Chandler

    2005-01-01

    To help meet our nation's energy needs, reprocessing of spent nuclear fuel is being considered more and more as a necessary step in a future nuclear fuel cycle, but incorporating this step into the fuel cycle will require considerable investment. This report presents an evaluation of financing scenarios for reprocessing facilities integrated into the nuclear fuel cycle. A range of options, from fully government owned to fully private owned, was evaluated using a DPL (Dynamic Programming Language) 6.0 model, which can systematically optimize outcomes based on user-defined criteria (e.g., lowest life-cycle cost, lowest unit cost). Though all business decisions follow similar logic with regard to financing, reprocessing facilities are an exception due to the range of financing options available. The evaluation concludes that lowest unit costs and lifetime costs follow a fully government-owned financing strategy, due to government forgiveness of debt as sunk costs. Other financing arrangements, however, including regulated utility ownership and a hybrid ownership scheme, led to acceptable costs, below the Nuclear Energy Agency published estimates. Overwhelmingly, uncertainty in annual capacity led to the greatest fluctuations in unit costs necessary for recovery of operating and capital expenditures; the ability to determine annual capacity will be a driving factor in setting unit costs. For private ventures, the costs of capital, especially equity interest rates, dominate the balance sheet; the annual operating costs dominate the government case. It is concluded that to finance the construction and operation of such a facility without government ownership could be feasible with measures taken to mitigate risk, and that factors besides unit costs should be considered (e.g., legal issues, social effects, proliferation concerns) before making a decision on financing strategy

  19. 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...

  20. Finance/security/life.

    OpenAIRE

    Langley, P.

    2017-01-01

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

  1. Financing strategic healthcare facilities: the growing attraction of alternative capital.

    Science.gov (United States)

    Zismer, Daniel K; Fox, James; Torgerson, Paul

    2013-05-01

    Community health system leaders often dismiss use of alternative capital to finance strategic facilities as being too expensive and less strategically useful, preferring to follow historical precedent and use tax-exempt bonding to finance such facilities. Proposed changes in accounting rules should cause third-party-financed facility lease arrangements to be treated similarly to tax-exempt debt financings with respect to the income statement and balance sheet, increasing their appeal to community health systems. An in-depth comparison of the total costs associated with each financing approach can help inform the choice of financing approaches by illuminating their respective advantages and disadvantages.

  2. Financing petroleum agreements

    International Nuclear Information System (INIS)

    Robson, C.J.V.

    1994-01-01

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

  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. 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.

  5. Study on Risk Management in Financing and Operational of Grameen Bank Financing Concept in MBK Finance

    Directory of Open Access Journals (Sweden)

    Bobby Yulandika Putra

    2014-03-01

    Full Text Available Objective – Poverty is one of the most fundamental issues that still surround the life of 29.89 million people of Indonesia (National Statistical Bureau data from January 2, 2012. During this time, the pattern of poverty alleviation programs undertaken by the government is a pattern of generosity. This pattern can directly exacerbate the poor morals and behavior. Ideally, poverty alleviation efforts are made by concrete steps, which empower poor `communities themselves.In line with the theme of this research, one of the financial institutions (non-Banks who cares and has the spirit to empower people to overcome poverty is Mitra Bisnis Keluarga (MBK. This study aimed to assess the financial risks and operational risks of implementation of Grameen Bank financing concept in MBK.Methods - The method used in this research is literature review and qualitative descriptive study using actual MBK data.Results - Results from this research showed that products with the concept of Grameen Bank financing is relatively safe in the terms of the financing risk, but requires more attention on operational risk and which can be implemented for large-scale poverty alleviation program.Conclusion - The data showed that the risk of financing given to the poor (without collateral is minimal and MBK actual data shows that the Operational self-sufficiency is relatively high at> 90% Keywords : MBK, Grameen Bank, Poverty

  6. Document Management in Local Government.

    Science.gov (United States)

    Williams, Bernard J. S.

    1998-01-01

    The latest in electronic document management in British local government is discussed. Finance, revenues, and benefits systems of leading vendors to local authorities are highlighted. A planning decisions archive management system and other information services are discussed. (AEF)

  7. Subnational Adaptation Finance Allocation: Comparing Decentralized and Devolved Political Institutions in Kenya

    OpenAIRE

    Sam Barrett

    2015-01-01

    Adaptation finance is designed to help vulnerable populations withstand effects of climate variability and change. However, levels of vulnerability seldom determine finance distribution. Political and economic preferences of national and local government decision-makers tend to direct funding streams. This article takes an institutional approach to adaptation finance allocation by comparing decentralized and devolved local governance structures managing adaptation finance in Kenya before and ...

  8. Determinants of Funds Demand and Supply; Deepening Finance Access of Real Estate Investment in China

    Directory of Open Access Journals (Sweden)

    Lkhagvasuren Togtokhbuyan

    2012-11-01

    Full Text Available This huge gap between financing needs and the available financing capacity represents major constraints to growth opportunities in business financing, and accords with one of requirements strategy of stimulating real sector financing by mobilizing cheap long term saving. Real estate investment is a capital intensive venture and this implies that firms venturing into this sector need to have a strong capital structure to sustain development. There is high competition amongst the real developers in quest for funds from formal and informal sources to meet their financial needs. Many real Estate firms are experiencing a credit fix. In the recent move by the Peoples Bank of China to clamp down lending in the real estate sector; the People’s bank of China tightened monetary policy by raising interest rates which in effect lead to increased cost of capital. The central government has also encouraged banks to adopt slow lending to real estate projects. According to the People's Bank of China (PBOC, the increase in cumulative loans related to housing projects totaled ¥1.3 trillion ($198 billion in 2011, down 38 percent from 2010, and new loans to the property sector comprised 17.5 percent of total loans in 2011, down from 27 percent in 2010.The remaining prudent alternative is innovation for exploitation of other means of acquiring funds for real estate venture. Real estate investors need to deepen and broaden their options of financing their activities to avoid credit squeeze.

  9. Mukhabarah as Sharia Financing Model in Beef Cattle Farm Entrepise

    Science.gov (United States)

    Asnawi, A.; Amrawaty, A. A.; Nirwana

    2018-02-01

    Financing constraints on beef cattle farm nowadays have received attention by the government through distributed various assistance programs and program loans through implementing banks. The existing financing schemes are all still conventional yet sharia-based. The purpose of this research is to formulate financing pattern for sharia beef cattle farm. A qualitative and descriptive approach is used to formulate the pattern by considering the profit-sharing practices of the beef cattle farmers. The results of this study have formulated a financing pattern that integrates government, implementing banks, beef cattle farmers group and cooperative as well as breeders as its members. This pattern of financing is very accommodating of local culture that develops in rural communities. It is expected to be an input, especially in formulating a business financing policy Sharia-based beef cattle breeding.

  10. Australian Government Balance Sheet Management

    OpenAIRE

    Wilson Au-Yeung; Jason McDonald; Amanda Sayegh

    2006-01-01

    Since almost eliminating net debt, the Australian Government%u2019s attention has turned to the financing of broader balance sheet liabilities, such as public sector superannuation. Australia will be developing a significant financial asset portfolio in the %u2018Future Fund%u2019 to smooth the financing of expenses through time. This raises the significant policy question of how best to manage the government balance sheet to reduce risk. This paper provides a framework for optimal balance sh...

  11. 31 CFR 800.214 - Foreign government-controlled transaction.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Foreign government-controlled transaction. 800.214 Section 800.214 Money and Finance: Treasury Regulations Relating to Money and Finance... control of a U.S. business by a foreign government or a person controlled by or acting on behalf of a...

  12. Financing long term liabilities (Germany)

    International Nuclear Information System (INIS)

    2003-01-01

    In Germany the basis for the management of radioactive residues is the polluter-pays principle. All steps of treatment of radioactive waste arising from operation, decommissioning and dismantling including conditioning, interim storage and disposal of radioactive waste have to be financed by the waste producers. The waste producers are responsible for the harmless recycling of the residues or for their orderly management as radioactive waste. The Federal Government is responsible for establishing disposal facilities. Accordingly the waste producers are constructing and operating facilities in which the radioactive residues can be treated and stored until their disposal. As far as the radioactive waste cannot be stored by the producer, waste originating from research, medicine and industry can be stored in surface storage facilities of the federal states. Spent fuel from German NPPs is partly reprocessed in France and UK. The rest has to be disposed off directly in deep geologic formations. Until a repository for spent fuel is available in Germany spent fuel will be stored in interim storage facilities on the sites of the NPPs. The storage will take place in casks in a dry way. In exceptional cases, if the storage at a NPP site is not possible, there are two central storages at Ahaus and Gorleben which are in operation and can be made available as reserve. Radioactive waste returning from the reprocessing of German spent fuel in France and UK is stored in the Gorleben central storage. The Federal Government is aiming to establish a repository in deep geological formations about the year 2030 which shall be available for all types and quantities of radioactive waste. The necessary expenses for the planning and construction of radioactive waste disposal facilities are initially carried by the Federal Government. The Government recovers the costs by contributions or advance payments from the waste producers. The use of storage and disposal facilities is financed by

  13. Financing small-scale infrastructure investments in developing countries

    OpenAIRE

    Daniel L. Bond; Daniel Platz; Magnus Magnusson

    2012-01-01

    In most developing countries a shortage of long-term, local-currency financing for small-scale infrastructure projects impedes local economic development. Inadequate fiscal transfers, little own source revenue and low creditworthiness make it difficult for local governments to fully fund projects on their own. This paper proposes the use of project finance as a means to attract financing from domestic banks and institutional investors. Donors can play a catalytic role by providing technical a...

  14. 12 CFR 918.5 - Approval by Finance Board.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Approval by Finance Board. 918.5 Section 918.5 Banks and Banking FEDERAL HOUSING FINANCE BOARD GOVERNANCE AND MANAGEMENT OF THE FEDERAL HOME LOAN BANKS BANK DIRECTOR COMPENSATION AND EXPENSES § 918.5 Approval by Finance Board. Payments made to directors in compliance with the limits on annual...

  15. Money, media and the anti-politics of terrorist finance

    NARCIS (Netherlands)

    de Goede, M.

    2008-01-01

    This article offers a critical analysis of the anti-politics of terrorist finance, understood as the particularly depoliticized governing practices enabled in its name. The article conceptualizes 'terrorist finance' not as an unproblematic reality which has elicited a state response, but as a

  16. Financing Adult and Non-Formal Education in Nigeria

    Science.gov (United States)

    Hassan, Moshood Ayinde

    2009-01-01

    The purpose of this study is to determine how adult and non formal education is financed in Nigeria; and to examine areas or forms of and the problems of financing adult and non-formal education in Nigeria. Survey research was used in order to carry out the study. Three hundred and twenty five (325) respondents from government agencies,…

  17. Sustainable house construction and green financing. Explanation for 'green mortgages'

    International Nuclear Information System (INIS)

    1997-05-01

    The Dutch government finances the sustainable construction of new houses by means of so-called 'green loans'. Extra costs for the construction of a sustainable house are compensated by a lower interest rate for a green loan. In this brochure it is explained when green financing of house construction is possible and how to apply for such loans

  18. Financing Distributed Generation

    Energy Technology Data Exchange (ETDEWEB)

    Walker, A.

    2001-06-29

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market.

  19. 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

  20. Financing Distributed Generation

    International Nuclear Information System (INIS)

    Walker, A.

    2001-01-01

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market

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

    Science.gov (United States)

    Encarnation, Dennis J.

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

  2. The Housing Finance Revolution

    OpenAIRE

    Richard K. Green; Susan M. Wachter

    2007-01-01

    While other countries dismantled their segmented housing finance systems and linked housing finance to capital markets through deregulated depositories, the US linked housing finance to capital markets through depository deregulation and securitization. Elsewhere securitization has not developed. The US provided the underpinnings for its mortgage security infrastructure with the creation of FNMA in 1938 and in order to create liquidity in the mortgage market required the standardization of mo...

  3. What is project finance?

    OpenAIRE

    João M. Pinto

    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 ...

  4. Financing Constraints and Entrepreneurship

    OpenAIRE

    William R. Kerr; Ramana Nanda

    2009-01-01

    Financing constraints are one of the biggest concerns impacting potential entrepreneurs around the world. Given the important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints for would-be entrepreneurs is also an important goal for policymakers worldwide. We review two major streams of research examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified perspecti...

  5. Financing Preference Behaviour for Private Finance Initiative (PFI Projects

    Directory of Open Access Journals (Sweden)

    Yati Md Lasa

    2016-01-01

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

  6. Health financing in Africa: overview of a dialogue among high level policy makers.

    Science.gov (United States)

    Sambo, Luis Gomes; Kirigia, Joses Muthuri; Ki-Zerbo, Georges

    2011-06-13

    Even though Africa has the highest disease burden compared with other regions, it has the lowest per capita spending on health. In 2007, 27 (51%) out the 53 countries spent less than US$50 per person on health. Almost 30% of the total health expenditure came from governments, 50% from private sources (of which 71% was from out-of-pocket payments by households) and 20% from donors. The purpose of this article is to reflect on the proceedings of the African Union Side Event on Health Financing in the African continent. Methods employed in the session included presentations, panel discussion and open public discussion with ministers of health and finance from the African continent. The current unsatisfactory state of health financing was attributed to lack of clear vision and plan for health financing; lack of national health accounts and other evidence to guide development and implementation of national health financing policies and strategies; low investments in sectors that address social determinants of health; predominance of out-of-pocket spending; underdeveloped prepaid health financing mechanisms; large informal sectors vis-à-vis small formal sectors; and unpredictability and non-alignment of majority of donor funds with national health priorities.Countries need to develop and adopt a comprehensive national health policy and a costed strategic plan; a comprehensive evidence-based health financing strategy; allocate at least 15% of the national budget to health development; use GFATM and PEPFAR funds for health systems strengthening; strengthen intersectoral collaboration to address health determinants; advocate among donors to implement the Paris Declaration on Aid Effectiveness and its Accra Agenda for Action; ensure universal access to health services for pregnant women, lactating mothers and children aged under five years; strengthen financial management capacities; and develop prepaid health financing systems, especially health insurance to complement tax

  7. Terrorist Financing: The 9/11 Commission Recommendation

    National Research Council Canada - National Science Library

    Weiss, Martin A

    2005-01-01

    .... The Commission recommended that the U.S. government shift the focus of its efforts to counter terrorist financing from a strategy based on seizing terrorist assets to a strategy based on exploiting intelligence gathered from financial investigations...

  8. EVOLUTION OF APPROACHES TO FINANCE THE BUDGET DEFICIT

    Directory of Open Access Journals (Sweden)

    K. Cherkashyna

    2014-12-01

    Full Text Available In the article, the causes and existence of the state budget deficit are defined. The main source of budget deficit financing in historical retrospective are considered. The most popular government securities which issued in foreign countries are compared in the article. The dynamics of the budget deficit in Ukraine and the sources of its coverage are analyzed in the article. There are three main types of government securities in Ukraine, such as: national currency-denominated government bonds, foreign currency-denominated government bonds and target government bonds. The main market maker of the government bonds' market is National Bank of Ukraine. The volume of resources, which are mobilized from the issue of the national currency-denominated government bonds are major then the volume of resources, which are mobilized from the issue of the foreign currency-denominated government bonds The necessity of further improvement of government securities as an important source of budget deficit financing is emphasized.

  9. Market turbulence creates financing opportunity.

    Science.gov (United States)

    Cooper, James H

    2012-03-01

    The flight to high-quality assets resulting from Standard & Poor's downgrade of the U.S. government's credit rating has dropped the yield on U.S. Treasury securities as investors have sought refuge amid uncertain market conditions. Consequently, hospitals can now obtain mortgage insurance from the U.S. government to finance expansions and refinance their debt with GNMA securities at taxable interest rates that are often more favorable than tax-exempt bond fixed rates. Because GNMA certificates can be sold in a forward purchase transaction that locks in a fixed interest rate while avoiding payment of interest until construction funds are disbursed, they can help avoid the effects of negative arbitrage.

  10. Towards more financing options for energy efficient buildings and houses

    International Nuclear Information System (INIS)

    Vethman, P.; Menkveld, M.

    2012-02-01

    This article offers an impression of the problems related to the limited financial options for energy efficient buildings and dwellings and possible solutions. It is based on a recent ECN study (RE-BIZZ) and several interviews about this topic with financers. There is a need for a more business appreciation of market parties such as financers for energy efficiency in buildings to increase financing options. The market needs the help of the government, which can help to remove barriers and hence make financing more appealing. [nl

  11. Financing - general considerations

    International Nuclear Information System (INIS)

    1977-01-01

    Various aspects of the problems of financing a multinational regional fuel cycle centre (RFCC) are briefly discussed. Some of the points covered are: financing by participants; floating long-term loans on capital markets outside the countries of the participants; and export credits for the purchase of equipment manufactured outside the countries of the participants

  12. 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

  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. 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)

  15. Financing landfill gas projects

    International Nuclear Information System (INIS)

    Bull, R.

    1992-01-01

    The problems of financing landfill gas projects in the UK in the last few years are discussed. The approach of the author in setting up a company to finance such projects in the power generation field and a separate company to design and supply turnkey packages is reported. (UK)

  16. Financing climate change adaptation

    NARCIS (Netherlands)

    Bouwer, L.M.; Aerts, J.C.J.H.

    2006-01-01

    This paper examines the topic of financing adaptation in future climate change policies. A major question is whether adaptation in developing countries should be financed under the 1992 United Nations Framework Convention on Climate Change (UNFCCC), or whether funding should come from other sources.

  17. Financing medical office buildings.

    Science.gov (United States)

    Blake, J W

    1995-01-01

    This article discusses financing medical office buildings. In particular, financing and ownership options from a not-for-profit health care system perspective are reviewed, including use of tax-exempt debt, taxable debt, limited partnerships, sale, and real estate investment trusts (REITs).

  18. 76 FR 4112 - Federal Acquisition Regulation; Submission for OMB Review; Contract Financing

    Science.gov (United States)

    2011-01-24

    ...; Submission for OMB Review; Contract Financing AGENCIES: Department of Defense (DOD), General Services... approved information collection requirement concerning contract financing. A notice was published in the... substantially changed the statutory authorities for Government financing of contracts. Sections 2001(f) and 2051...

  19. Financing aspects of electricity saving's in Brazil

    International Nuclear Information System (INIS)

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

    1996-01-01

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

  20. The Determinants of Debt Financing

    OpenAIRE

    Zhao, Chenkai

    2013-01-01

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

  1. 31 CFR 30.0 - Executive compensation and corporate governance.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Executive compensation and corporate governance. 30.0 Section 30.0 Money and Finance: Treasury Office of the Secretary of the Treasury TARP STANDARDS FOR COMPENSATION AND CORPORATE GOVERNANCE § 30.0 Executive compensation and corporate governance...

  2. 'Good Governance' dan 'Governability'

    Directory of Open Access Journals (Sweden)

    - Pratikno

    2005-03-01

    Full Text Available The article endeavors to trace the outset of governance concept, its dominant meanings and discourse, and its implication towards governability. The central role of government in the governing processes has predominantly been adopted. The concept of governance was emerged precisely in the context of the failure of government as key player in regulation, economic redistribution and political participation. Governance is therefore aimed to emphasize pattern of governing which are based both on democratic mechanism and sound development management. However, practices of such good governance concept –which are mainly adopted and promoted by donor states and agencies– tend to degrade state and/or government authority and legitimacy. Traditional function of the state as sole facilitator of equal societal, political and legal membership among citizens has been diminished. The logic of fair competition has been substituted almost completely by the logic of free competition in nearly all sectors of public life. The concept and practices of good governance have resulted in decayed state authority and failed state which in turn created a condition for "ungovernability". By promoting democratic and humane governance, the article accordingly encourages discourse to reinstall and bring the idea of accountable state back in.

  3. Investigation on law and economics of listed companies' financing preference based on complex network theory.

    Directory of Open Access Journals (Sweden)

    Jian Yang

    Full Text Available In this paper, complex network theory is used to make time-series analysis of key indicators of governance structure and financing data. We analyze scientific listed companies' governance data from 2010 to 2014 and divide them into groups in accordance with the similarity they share. Then we select sample companies to analyze their financing data and explore the influence of governance structure on financing decision and the financing preference they display. This paper reviews relevant laws and regulations of financing from the perspective of law and economics, then proposes reasonable suggestions to consummate the law for the purpose of regulating listed companies' financing. The research provides a reference for making qualitative analysis on companies' financing.

  4. 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...

  5. The Finance Curse

    DEFF Research Database (Denmark)

    Christensen, John; Shaxson, Nick; Wigan, Duncan

    2016-01-01

    The Global Financial Crisis placed the utility of financial services in question. The crash, great recession, wealth transfers from public to private, austerity and growing inequality cast doubt on the idea that finance is a boon to the host economy. This article systematizes these doubts......, economic instability, inequality, conflict, rent-seeking and corruption. The Finance Curse produces similar effects, often for similar reasons. Beyond a point, a growing financial sector can do more harm than good. Unlike the Resource Curse, these harms transcend borders. The concept of a Finance Curse...

  6. Tracking development assistance and government health expenditures for 35 malaria-eliminating countries: 1990-2017.

    Science.gov (United States)

    Shretta, Rima; Zelman, Brittany; Birger, Maxwell L; Haakenstad, Annie; Singh, Lavanya; Liu, Yingying; Dieleman, Joseph

    2017-07-14

    Donor financing for malaria has declined since 2010 and this trend is projected to continue for the foreseeable future. These reductions have a significant impact on lower burden countries actively pursuing elimination, which are usually a lesser priority for donors. While domestic spending on malaria has been growing, it varies substantially in speed and magnitude across countries. A clear understanding of spending patterns and trends in donor and domestic financing is needed to uncover critical investment gaps and opportunities. Building on the Institute for Health Metrics and Evaluation's annual Financing Global Health research, data were collected from organizations that channel development assistance for health to the 35 countries actively pursuing malaria elimination. Where possible, development assistance for health (DAH) was categorized by spend on malaria intervention. A diverse set of data points were used to estimate government health budgets expenditure on malaria, including World Malaria Reports and government reports when available. Projections were done using regression analyses taking recipient country averages and earmarked funding into account. Since 2010, DAH for malaria has been declining for the 35 countries actively pursuing malaria elimination (from $176 million in 2010 to $62 million in 2013). The Global Fund is the largest external financier for malaria, providing 96% of the total external funding for malaria in 2013, with vector control interventions being the highest cost driver in all regions. Government expenditure on malaria, while increasing, has not kept pace with diminishing DAH or rising national GDP rates, leading to a potential gap in service delivery needed to attain elimination. Despite past gains, total financing available for malaria in elimination settings is declining. Health financing trends suggest that substantive policy interventions will be needed to ensure that malaria elimination is adequately financed and that

  7. The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War.

    OpenAIRE

    Ohanian, Lee E

    1997-01-01

    During World War II, government expenditures were financed primarily by issuing debt. During the Korean War, expenditures were financed almost exclusively by higher taxes, reflecting President Truman's preference for balanced budgets. This paper evaluates quantitatively the economic effects of the different policies used to finance these two wars. Counterfactual experiments are used to explore the implications of financing World War II like the Korean War, and financing the Korean War like Wo...

  8. Stochastic Processes in Finance and Behavioral Finance

    OpenAIRE

    Steinbacher, Matjaz

    2008-01-01

    In the paper, we put some foundations for studying asset pricing and finance as a stochastic and behavioral process. In such process, preferences and psychology of agents represent the most important factor in the decision-making of people. Individuals have their own ways of acquiring the information they need, how to deal with them and how to make predictions and decisions. People usually also do not behave consistent in time, but learn. Therefore, in order to understand the behavior on the ...

  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. Algorithmic Finance and (Limits to) Governmentality

    DEFF Research Database (Denmark)

    Borch, Christian

    2017-01-01

    -frequency trading, such as how algorithms are designed to govern other market participants' anticipations of market dynamics. However, I also argue that, to fully understand the realm of algorithmic finance and high-frequency trading, it is important to supplement a governmentality approach with an analytical......In this essay I discuss algorithmic finance, specifically the use of fully automated trading, including high-frequency trading, in the light of Michel Foucault's notion of governmentality. I argue that a governmentality perspective offers a fruitful way of understanding particular aspects of high...... lexicon which is not primarily centred on productive forms of power. Specifically, I suggest that, according to media discourses on high-frequency trading, algorithmic finance often works in ways that are better grasped through, e.g. Elias Canetti's work on predatory power and Roger Caillois's work...

  11. Algorithmic Finance and (Limits to) Governmentality

    DEFF Research Database (Denmark)

    Borch, Christian

    2017-01-01

    In this essay I discuss algorithmic finance, specifically the use of fully automated trading, including high-frequency trading, in the light of Michel Foucault's notion of governmentality. I argue that a governmentality perspective offers a fruitful way of understanding particular aspects of high......-frequency trading, such as how algorithms are designed to govern other market participants' anticipations of market dynamics. However, I also argue that, to fully understand the realm of algorithmic finance and high-frequency trading, it is important to supplement a governmentality approach with an analytical...... lexicon which is not primarily centred on productive forms of power. Specifically, I suggest that, according to media discourses on high-frequency trading, algorithmic finance often works in ways that are better grasped through, e.g. Elias Canetti's work on predatory power and Roger Caillois's work...

  12. NPP Cernavoda Unit 2 Financing Completion Works

    International Nuclear Information System (INIS)

    Chirica, T.; Stefanescu, A.; Constantin, C.; Dobrin, M.

    2002-01-01

    NPP Cernavoda Unit 2 completion is the highest priority of the Romanian power sector strategy. The nuclear energy represents, through its technological features of adopted solution (a CANDU nuclear power plant) and also through technological and economical performance indicators, the best solution to fulfill the demands concerning the sustainable development and the electricity request. The guidelines of energy strategy regarding the nuclear sector development in Romania are framing in the general policy for energy system development at least costs and they are responding to requests concerning the environment and people protection. The paper presents the financing alternatives for Unit 2 completion works taking into consideration the financing market conditions. The paper presents the impact of the financing conditions on the project efficiency, as well as the facilities offered by the Romanian Government in order to support this project. (author)

  13. 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

  14. FINANCING SME FUTURE DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Viorica CERBUSCA

    2015-04-01

    Full Text Available The paper highlights the problems faced by the SMEs in accessing adequate financing as one of the most significant barriers of the sector. Financial access is critical for SMEs’ growth and development. At the same time, the author emphasize that there is no unique way of financing SMEs. The need depends on the stage of maturity and size of the enterprise. In order to facilitate the SME access to finance it is necessary to adapt the best international practices and to adapt them at the local condition. Article aims to present microfinancing as a tool that could improve the SME access to finance, thus contributing to the economic development of the country by creating new jobs, new products and services

  15. Export development financing

    International Nuclear Information System (INIS)

    Balint, J.

    1995-01-01

    The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing

  16. Financing Alternatives Comparison Tool

    Science.gov (United States)

    FACT is a financial analysis tool that helps identify the most cost-effective method to fund a wastewater or drinking water management project. It produces a comprehensive analysis that compares various financing options.

  17. 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

  18. To finance the transition

    International Nuclear Information System (INIS)

    Regnier, Yannick; Maciel, Guillaume; Zeroual, Bouchra; Leca, Christel; Guillou, Maelle; Mossalgue, Marc; Raguet, Alex; Sabot, Guillaume; Coton, Patrice; Olesen, Gunnar Boye; Friggens, Sam; Pouyet, Regis; Blanc, Nicolas; Laurent, Pierre; Ruedinger, Andreas

    2013-01-01

    A set of brief articles illustrates the emergence of innovating and operational financing tools aimed at supporting energy transition in France and in Europe. As far as France is concerned, different examples are evoked: raising local savings, crowd-funding for renewable energies, citizen investment, cooperation between industries, communities and citizens, a semi-public company with citizen participation, the case of the Nancy urban community, a joint experience by a local public company and an investment fund. As far as Europe is concerned, the following topics or examples are evoked: local policies as lever for European financing, the Danish example of citizen-based financing, crowd-funding in the UK, the European emergence of cooperatives. As far as banks and institutions are concerned, the following topics are addressed: tools implemented by the Caisse des Depots for energy transition, the roles of banks and of public institutions in the financing of energy transition

  19. Finance and Economic Development

    OpenAIRE

    Panizza, Ugo

    2012-01-01

    Published by Palgrave Macmillan This chapter reviews the literature on finance and economic development. It starts with a description of the roles of finance, a definition of financial efficiency, and a discussion of whether countries may have financial sectors that are ‘too large’ compared to the size of the domestic economy. Next, the author describes several indicators of financial development and reviews the literature on the relationship between financial development and economic growth....

  20. International energy financing

    International Nuclear Information System (INIS)

    Vedavalli, Rangaswamy

    1994-01-01

    Some of the innovative financing options being considered by developing countries and economies in transition as ways of mobilizing international energy financing are discussed. Build-Own-Operate (BOO) and Transfer (BOOT) is the most commonly adopted approach. This involves limited resource financing of a project on the basis of the associated cash flow and risks and not on the credit of the project owners. The World Bank has set up the Multilateral Investment Guarantee Agency to provide, on a fee basis, guarantees against certain non-commercial forms of risk in order to promote international capital flow to developing countries. In 1989, the World Bank introduced the Expanded Co-financing Operations (ECO) programme as an instrument to catalyze the flow of private finance into developing countries and to improve their access to international financial markets. Other financial instruments currently being established include: leasing of equipment or whole plants by foreign investors; private ownership or operation of generation and distribution facilities; exchange of specific export goods for energy imports; developing instruments to finance local costs; revenue bonds; tax-exempt bonds; sale of electricity futures to those seeking more stable, longer term electricity price contracts. (UK)

  1. Alternative transportation fuels: Financing issues

    International Nuclear Information System (INIS)

    Squadron, W.F.; Ward, C.O.; Brown, M.H.

    1992-06-01

    A multitude of alternative fuels could reduce air pollution and the impact of oil price shocks. Only a few of these fuels are readily available and inexpensive enough to merit serious consideration over the coming five years. In New York City, safety regulations narrow the field still further by eliminating propane. As a result, this study focuses on the three alternative fuels readily available in New York City: compressed natural gas, methanol, and electricity. Each has significant environmental benefits and each has different cost characteristics. With the Clean Air Act and the National Energy Strategy highlighting the country's need to improve urban air quality and move away from dependence on imported fuels, fleets may soon have little choice but to convert to altemative fuels. Given the potential for large infrastructure and vehicle costs, these fleets may have difficulty finding the capital to make that conversion. Ultimately, then, it will be the involvement of the private sector that will determine the success of alternative fuels. Whether it be utilities, fuel distributors or suppliers, private financing partners or others, it is critical that altemative fuels programs be structured and planned to attract their involvement. This report examines financing methods that do not involve government subsidies. It also explores financing methods that are specific to alternative fuels. Bond issues and other mechanisms that are used for conventional vehicles are not touched upon in this report. This report explores ways to spread the high cost of alternative fuels among a number of parties within the private sector. The emphasis is on structuring partnerships that suit methanol, electric, or natural gas vehicle fleets. Through these partnerships, alternative fuels may ultimately compete effectively against conventional vehicle fuels

  2. Federal Economic Policy and the Finance of Elementary and Secondary Education in the Eighties.

    Science.gov (United States)

    Nelson, F. Howard

    1983-01-01

    Reviews the United States' fiscal situation and the outlook for local, state, and federal government support of education. Focuses on the impact of decentralization of education financing under a conservative government and on the influence of federal budget deficits on school finance. Includes suggestions for educators in seeking financial…

  3. 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

  4. Financing energy projects in Africa

    International Nuclear Information System (INIS)

    Godier, Kevin; Marks, Jon

    1999-12-01

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

  5. Project finance and international energy development

    International Nuclear Information System (INIS)

    Pollio, G.

    1998-01-01

    This paper explores the preference for and the features unique to project finance, one of the favoured vehicles for funding energy development. Our main focus is on the interests of project sponsors, commercial banks and host governments. Inclusion of the latter reflects the fact host governments are often leading participants in primary energy and energy-related projects; more recently, they have come to use limited recourse structures to finance local infrastructure development. Traditional analyses, whilst providing useful insights into the interests of leading project participants, are incapable of isolation a single motive or set of motives that can comprehensively account for all of the features common to this form of debt. Within an options-theoretic framework, most of these ambiguities are resolved. Risk management, long recognised as one of the primary reasons for choosing project finance over rival debt structures, is affirmed as a key explanatory factor. One the other hand, options pricing theory provides a radically different perspective on how to project finance contributes to the realisation of these objectives. (author)

  6. Financing Reproductive and Child Health Services at the Local ...

    African Journals Online (AJOL)

    government became the main funding source for RH services (44.2%), partly reflecting government enhanced commitment to increase resources for maternal and child health, and due to exemption of pregnant women from paying for health care. Nevertheless, this commitment didn't last and the financing burden was borne ...

  7. Financing Options and Development Projects in the Nigerian Local ...

    African Journals Online (AJOL)

    This study is an investigation into the impact of Nigerian local government financing options on successful execution of development projects. Through the ordinary least square regression analysis, the study proved that though there is an established case of underfunding in the entire Nigerian local government system, the ...

  8. Funding models for financing water infrastructure in South Africa ...

    African Journals Online (AJOL)

    Government needs to find a solution to this backlog by putting in place new institutional structures and funding models for effective strategies leading to prompt ... These models see Government planning, installing and financing infrastructure with pricing at marginal costs or on a loss-making basis, with returns recovered ...

  9. Federal Finance: What can South Sudan and Somalia Learn from ...

    African Journals Online (AJOL)

    user

    Section. 5concludes. 2. Literature on federal finance. Federal system is a form of government where power ..... end of 2004 and the adoption of provisional constitution and formation of ..... However, due to its strategic importance .... 7 See Article 11 sub-article 2 (k) and Article 54 of the Addis Ababa City Government Revised.

  10. 75 FR 38158 - Korea Finance Corporation; Notice of Application

    Science.gov (United States)

    2010-07-01

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

  11. Source of finance, growth and firm size: Evidence from China

    OpenAIRE

    Du, Jun; Girma, Sourafel

    2009-01-01

    Using a comprehensive firm-level dataset spanning the period 1998-2005, this paper provides a thorough investigation of the relationship between firm size, total factor productivity growth and financial structure in China, controlling for the endogeneity of the latter. Generally, it finds financing source matters for firms of different size, and the extent to which financing source matters for firm growth is greater for small firms than big firms. Self-raised finance appears to be most effect...

  12. A Study on Sources of Health Financing in Nigeria: Implications for Health care Marketers and Planners

    Directory of Open Access Journals (Sweden)

    Rotimi Ayodele Gbadeyan

    2016-01-01

    Full Text Available There have been increasing difficulties in providing qualitative health care services to the public in Nigeria. The development has called for the need to examine ways through which government and other stakeholders resolve these crises in the health sector. The objective of this paper is to examine the level of Government spending to total Health expenditures in Nigeria. This study basically employs secondary data for analysis. The secondary data are provided from the World Bank Development indicators and Internet. The data was analyzed using the Pearson Correlation Coefficient Statistical technique. The result revealed a strong positive Correlation (r = 0.634 between Government Health Spending and Total Health Spending. This indicates that Government Health Spending constitutes a significant proportion of the Total Health Expenditures in Nigeria; despite complains about inadequate health financing. In conclusion, the Nigerian Health sector would become more vibrant, if the Government and the Private sector are ready to give the necessary commitments required to achieve the laudable objective of qualitative health for all. The study recommends for more Government Health funding towards tackling the prevalence of some chronic diseases such as HIV, Asthma, Tuberculosis, Meningitis and Paralysis, etc.

  13. The financing of nuclear power plants

    International Nuclear Information System (INIS)

    2009-01-01

    Many countries have recognised that greater use of nuclear power could play a valuable role in reducing carbon dioxide emissions. However, given the high capital cost and complexity of nuclear power plants, financing their construction often remains a challenge. This is especially true where such financing is left to the private sector in the context of competitive electricity markets. This study examines the financial risks involved in investing in a new nuclear power plant, how these can be mitigated, and how projects can be structured so that residual risks are taken by those best able to manage them. Given that expansion of nuclear power programmes will require strong and sustained government support, the study highlights the role of governments in facilitating and encouraging investment in new nuclear generating capacity

  14. Offsets - An opportunity of Financing

    International Nuclear Information System (INIS)

    PRIN, Coralie

    2008-01-01

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

  15. Commercial lending in different corporate governance systems

    NARCIS (Netherlands)

    Pape, J.C.

    1999-01-01

    This thesis is concerned with corporate governance, or more accurately, about one of its many aspects. This thesis is about banks that finance firms and it is about the commercial loans that enterprises use to finance investments. It is not about shareholders, managerial remuneration or about the

  16. Local Government Responses to Education Grants.

    Science.gov (United States)

    Fisher, Ronald C.; Papke, Leslie E.

    2000-01-01

    Provides a primer for policymakers about the economics of education grants and draws implications for school finance reform. Includes an overview of the types of education grants that states and the federal government have used to aid local spending and summarizes findings from states' experiences with different forms of education finance.…

  17. The 'bankability' of the new waste technologies: an econometric method for risk sharing in private finance waste contracts.

    Science.gov (United States)

    Black, I; Seaton, R; Chackiath, S; Wagland, S T; Pollard, S J T; Longhurst, P J

    2011-12-01

    The identification of risk and its appropriate allocation to partners in project consortia is essential for minimizing overall project risks, ensuring timely delivery and maximizing benefit for money invested. Risk management guidance available from government bodies, especially in the UK, does not specify methodologies for quantitative risk assessment, nor does it offer a procedure for allocating risk among project partners. Here, a methodology to quantify project risk and potential approaches to allocating risk and their implications are discussed. Construction and operation of a waste management facility through a public-private finance contract are discussed. Public-private partnership contracts are special purpose vehicle (SPV) financing methods promoted by the UK government to boost private sector investment in facilities for public service enhancement. Our findings question the appropriateness of using standard deviation as a measure for project risk and confirm the concept of portfolio theory, suggesting the pooling of risk can reduce total risk and its impact.

  18. Financing and risk management of energy and mineral products in Nigeria

    International Nuclear Information System (INIS)

    Adepoyigi, T.

    1997-01-01

    Nigeria currently produces about 2 million barrels of oil per day and has proven reserves of about 21 billion barrels of oil and 150 trillion cubic feet (tcf) of gas. It is the world's 9 th largest producer of oil, OPEC's 5 th largest producer and Africa's largest producer. Nigeria also has considerable gas resources which are currently unexploited. Due to insignificant domestic demand and a current lack of export opportunities for unprocessed gas, Nigeria's total gas production is approximately 1.0 tcf per year, 85% of which is associated with crude oil production. In order to derive economic benefit from the untapped gas resources, the Federal Government, through special fiscal incentives and joint sponsorships, is actively encouraging the development of gas projects, such as the Oso NGL project (MPN/NNPC). the Escravos Gas Utilisation Project (Chevron/NNPC) and the Nigeria Liquefied Natural Gas (NLNG) project (Shell/Elf/AGIP/NNPC). These and other projects in the energy and mineral industry are primarily being financed with equity and external borrowings (debt). However, the large amount of capital required to finance a major energy or mineral project can strain the ability of many organizations to borrow money and fund the equity contributions needed as well as strain the lending levels for many banks in Nigeria. Since the available local financing is not adequate, large projects development are therefore financed from external sources

  19. Financing and insurance problems

    International Nuclear Information System (INIS)

    Laurenge, M.-T.

    1975-01-01

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

  20. Financing tourist activity

    Directory of Open Access Journals (Sweden)

    Vujović Slavoljub

    2014-01-01

    Full Text Available This paper researches which of the possible financing models (self-financing, loan, mutual fund, issuing securities and leasing is the most convenient for tourism financing on the grounds of opinions and views of student population. Taking into account that future social and economic development depends on student population, that in every society intellectual endeavor (science and art exists ever since man exists, that the overall progress of mankind is based on the great intellectual endeavor of former civilizations, as well as the fact that Western Serbia has remarkable natural and anthropogenic characteristics suitable for valorization for the purpose of tourism development, the research questions were formulated and the research was performed. The methods used were: analysis, correlation, deduction and induction. Field research has been of the primary importance and it was based on questionnaires, interviews and in-depth interview. [Projekat Ministarstva nauke Republike Srbije, br. 46001 i br. 47007

  1. Growth and Project Finance in the Least Developed Countries

    DEFF Research Database (Denmark)

    la Cour, Lisbeth F.; Müller, Jennifer

    2014-01-01

    for economic growth in LDCs. We find that a higher regulatory quality, lower government consumption and a higher level of education helps increase growth. The significance of these variables are, however, not as consistently robust as the results for project finance.......This article examines the effects of project finance on economic growth in the least developed countries (LDC). Inspired by the neoclassical growth model we set up an econometric model to estimate the effects of project finance for a sample consisting of 38 of the least developed countries using...... data from the period 1994-2007. The results of our study suggest, that project finance has a significant positive effect on economic growth and therefore constitute an important source of financing in the selected set of countries. Additionally, the project sheds light on other factors of importance...

  2. Project financing in Latin America: The search for greener pastures

    International Nuclear Information System (INIS)

    Stark, R.D.

    1993-01-01

    This paper addresses the basic requisites for inducing private capital to engage in infrastructure project financing. Part 1 of this paper provides an overview of project financing considerations, such as how pricing of project outputs and the credit history of output purchasers can affect the availability of project financing, and explores the use of ''Revolving Funds'' as a stimulus for private investment. Part 2 discusses several areas in which governments can become pro-active participants in establishing a sound framework for project financing of infrastructure. Part 3 briefly addresses project structuring and the contractual risk allocation process which is central to project financing, and highlights some of the key legal arrangements found in project contracts

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

    Science.gov (United States)

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

    2013-06-01

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

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

    International Nuclear Information System (INIS)

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

    2013-01-01

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

  5. Small finance banks: Challenges

    Directory of Open Access Journals (Sweden)

    Jayadev M

    2017-12-01

    Full Text Available A recent innovation in the Indian banking structure has been the formation of a new banking institution—small finance banks (SFBs. These banks are expected to penetrate into financial inclusion by providing basic banking and credit services with a differentiated banking model to the larger population. In this context the new SFBs have multiple challenges in coming out with a new, differentiated business model. The challenges include building low cost liability portfolio, technology management, and balancing the regulatory compliances. This paper also presents the top of mind views of three senior executives of new small finance banks.

  6. Financing renewables - wind energy

    International Nuclear Information System (INIS)

    Armstrong, J.

    1998-01-01

    This paper describes the status of the wind energy markets world-wide, in Europe and in the UK. It outlines the main methods of financing wind energy installations and discusses why different institutional structures have led to different markets in the UK and in Germany, with some concern about the state of the UK onshore industry. The paper looks ahead to the opening up of the potentially much larger offshore wind resource, concluding that in this area, existing UK development and financing structures are well suited. (Author)

  7. 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.

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

    African Journals Online (AJOL)

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

  9. Nuclear fuel financing by USA investor-owned utilities

    International Nuclear Information System (INIS)

    Cave, W.F.

    1981-01-01

    Investor-owned utilities in the USA currently have almost 60 nuclear plants in commercial operation and an additional 90 plants under construction or awaiting operating licenses. To understand the specific techniques implemented to finance nuclear fuel and the advantages which they provide to individual companies, the total financing needs of the industry, the traditional pattern which utility external financing has taken, and the varied financial and regulatory bodies whose often conflicting objectives management must attempt to reconcile, must be understood. The aim of this paper is to aid such an understanding. The subject is discussed under the following headings: industry background; regulation and rating agencies; management objectives; financing structure; advantages (low financing cost; regulatory treatment; freer nature of agreement; access to commercial paper market; appropriate financing time-span; rating benefits; accounting treatment); conclusions. (U.K.)

  10. Directory of financing sources for foreign energy projects

    Energy Technology Data Exchange (ETDEWEB)

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

    1995-09-01

    The Office of National Security Policy has produced this Directory of Financing Sources for Foreign Energy Projects. The Directory reviews programs that offer financing from US government agencies, multilateral organizations, public, private, and quasi-private investment funds, and local commercial and state development banks. The main US government agencies covered are the US Agency for International Development (USAID), the Export-Import Bank of the US (EXIM Bank), Overseas Private Investment Corporation (OPIC), US Department of Energy, US Department of Defense, and the US Trade and Development Agency (TDA). Other US Government Sources includes market funds that have been in part capitalized using US government agency funds. Multilateral organizations include the World Bank, International Finance Corporation (IFC), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and various organizations of the United Nations. The Directory lists available public, private, and quasi-private sources of financing in key emerging markets in the Newly Independent States and other developing countries of strategic interest to the US Department of Energy. The sources of financing listed in this directory should be considered indicative rather than inclusive of all potential sources of financing. Initial focus is on the Russian Federation, Ukraine, india, China, and Pakistan. Separate self-contained sections have been developed for each of the countries to enable the user to readily access market-specific information and to support country-specific Departmental initiatives. For each country, the directory is organized to follow the project life cycle--from prefeasibility, feasibility, project finance, cofinancing, and trade finance, through to technical assistance and training. Programs on investment and export insurance are excluded.

  11. PPP-PROJECTS INFRASTRUCTURE AND SPECIFICS OF THEIR FINANCING

    OpenAIRE

    Dzambolat Valerevich Mrikaev

    2014-01-01

    The article examines the financing of public–private partnership (PPP) infrastructure programs in Russia and analyzes the role of financial credit systems. The object of the study becomes more relevant then ever as the demand in programs support by the government is growing as well as the need in creating an extra initiative for raising an external investment.The study observes the most essential program financing features in Russia, the aims and interests of the partners.Objective: to compar...

  12. Sovereign cat bonds and infrastructure project financing.

    Science.gov (United States)

    Croson, David; Richter, Andreas

    2003-06-01

    We examine the opportunities for using catastrophe-linked securities (or equivalent forms of nondebt contingent capital) to reduce the total costs of funding infrastructure projects in emerging economies. Our objective is to elaborate on methods to reduce the necessity for unanticipated (emergency) project funding immediately after a natural disaster. We also place the existing explanations of sovereign-level contingent capital into a catastrophic risk management framework. In doing so, we address the following questions. (1) Why might catastrophe-linked securities be useful to a sovereign nation, over and above their usefulness for insurers and reinsurers? (2) Why are such financial instruments ideally suited for protecting infrastructure projects in emerging economies, under third-party sponsorship, from low-probability, high-consequence events that occur as a result of natural disasters? (3) How can the willingness to pay of a sovereign government in an emerging economy (or its external project sponsor), who values timely completion of infrastructure projects, for such instruments be calculated? To supplement our treatment of these questions, we use a multilayer spreadsheet-based model (in Microsoft Excel format) to calculate the overall cost reductions possible through the judicious use of catastrophe-based financial tools. We also report on numerical comparative statics on the value of contingent-capital financing to avoid project disruption based on varying costs of capital, probability and consequences of disasters, the feasibility of strategies for mid-stage project abandonment, and the timing of capital commitments to the infrastructure investment. We use these results to identify high-priority applications of catastrophe-linked securities so that maximal protection can be realized if the total number of catastrophe instruments is initially limited. The article concludes with potential extensions to our model and opportunities for future research.

  13. Financing Opportunities for Renewable Energy Development in Alaska

    Energy Technology Data Exchange (ETDEWEB)

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

    2013-04-01

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

  14. Economic impact of land finance and subsequent risk response

    Institute of Scientific and Technical Information of China (English)

    Lü Wei; Xu Hongwei

    2014-01-01

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

  15. 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.

  16. The incidence of local government allocations in Tanzania

    OpenAIRE

    Jameson Boex

    2003-01-01

    Since 1999, Tanzania has been actively pursuing reforms of the way in which the central government finances local government activities. This paper looks at the current incidence of central government allocations to local authorities in Tanzania through: 1) examining of potential problems with the current financing method, 2) showing large variations between local government allocations, and 3) finding that surprisingly what drives t his distribution of resources maybe substantial pro-wealthy...

  17. Incentive Structure of Financing a Project: An Islamic Finance Approach

    OpenAIRE

    Lone, Fayaz Ahmad; Quadir, Abdul

    2017-01-01

    Financing is an important component in any project. Without finance, it is impossible to run any project as it is considered the lifeblood of the business. But due to the presence of predetermined rate of interest, economists have provided alternative approach for financing the project. In this paper a model using Profit and Loss Sharing (PLS) system and comparison of it with the conventional financing model is developed. Thrust in this paper is towards establishing a new theoretical reasonin...

  18. Project financing versus corporate financing under asymmetric information

    OpenAIRE

    Anton Miglo

    2008-01-01

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

  19. Financing CFM through REDD

    NARCIS (Netherlands)

    Skutsch, Margaret

    2008-01-01

    The Technology and Sustainable Development section of the Clean Technology and Environmental Policy Group, University of Twente, is working on a project financed by Netherlands Development Cooperation entitled “Kyoto: Think Global, Act Local” which will run from 2003 to 2009. The project is

  20. Bitcoin and Islamic Finance

    NARCIS (Netherlands)

    Bergstra, J.A.

    2014-01-01

    It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the

  1. Specialized financing techniques

    International Nuclear Information System (INIS)

    Shepherd, J.

    1992-01-01

    Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations

  2. CHIEF OF STAFF FINANCE

    African Journals Online (AJOL)

    The fifth Chief of Staff Division, namely Finance, is the end result of ... 1946 was able to report in 1948 that there had ... the same time however, the Secretary referred ... mended that because 'the existing dual arrange- ... tigate the division of functions in the Department. ... randum discussing the different arguments sur-.

  3. Financing emerging energies

    International Nuclear Information System (INIS)

    Row, J.

    2006-01-01

    This paper discusses the financing of emerging energies in Canada. Transforming energy markets will involve billions of dollars of investment from businesses and residents. Many different types of return on investment can be expected. These benefits will continue to grow over time and provide a permanent i ncome

  4. 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.

  5. 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…

  6. The impact of food and nutrient-based standards on primary school children's lunch and total dietary intake: a natural experimental evaluation of government policy in England.

    Science.gov (United States)

    Spence, Suzanne; Delve, Jennifer; Stamp, Elaine; Matthews, John N S; White, Martin; Adamson, Ashley J

    2013-01-01

    In 2005, the nutritional content of children's school lunches in England was widely criticised, leading to a major policy change in 2006. Food and nutrient-based standards were reintroduced requiring primary schools to comply by September 2008. We aimed to determine the effect of the policy on the nutritional content at lunchtime and in children's total diet. We undertook a natural experimental evaluation, analysing data from cross-sectional surveys in 12 primary schools in North East England, pre and post policy. Dietary data were collected on four consecutive days from children aged 4-7 years (n = 385 in 2003-4; n = 632 in 2008-9). We used linear mixed effect models to analyse the effects of gender, year, and lunch type on children's mean total daily intake. Both pre- and post-implementation, children who ate a school lunch consumed less sodium (mean change -128 mg, 95% CI: -183 to -73 mg) in their total diet than children eating home-packed lunches. Post-implementation, children eating school lunches consumed a lower % energy from fat (-1.8%, -2.8 to -0.9) and saturated fat (-1.0%; -1.6 to -0.5) than children eating packed lunches. Children eating school lunches post implementation consumed significantly more carbohydrate (16.4 g, 5.3 to 27.6), protein (3.6 g, 1.1 to 6.0), non-starch polysaccharides (1.5 g, 0.5 to 1.9), vitamin C (0.7 mg, 0.6 to 0.8), and folate (12.3 µg, 9.7 to 20.4) in their total diet than children eating packed lunches. Implementation of school food policy standards was associated with significant improvements in the nutritional content of school lunches; this was reflected in children's total diet. School food- and nutrient-based standards can play an important role in promoting dietary health and may contribute to tackling childhood obesity. Similar policy measures should be considered for other environments influencing children's diet.

  7. The impact of food and nutrient-based standards on primary school children's lunch and total dietary intake: a natural experimental evaluation of government policy in England.

    Directory of Open Access Journals (Sweden)

    Suzanne Spence

    Full Text Available In 2005, the nutritional content of children's school lunches in England was widely criticised, leading to a major policy change in 2006. Food and nutrient-based standards were reintroduced requiring primary schools to comply by September 2008. We aimed to determine the effect of the policy on the nutritional content at lunchtime and in children's total diet. We undertook a natural experimental evaluation, analysing data from cross-sectional surveys in 12 primary schools in North East England, pre and post policy. Dietary data were collected on four consecutive days from children aged 4-7 years (n = 385 in 2003-4; n = 632 in 2008-9. We used linear mixed effect models to analyse the effects of gender, year, and lunch type on children's mean total daily intake. Both pre- and post-implementation, children who ate a school lunch consumed less sodium (mean change -128 mg, 95% CI: -183 to -73 mg in their total diet than children eating home-packed lunches. Post-implementation, children eating school lunches consumed a lower % energy from fat (-1.8%, -2.8 to -0.9 and saturated fat (-1.0%; -1.6 to -0.5 than children eating packed lunches. Children eating school lunches post implementation consumed significantly more carbohydrate (16.4 g, 5.3 to 27.6, protein (3.6 g, 1.1 to 6.0, non-starch polysaccharides (1.5 g, 0.5 to 1.9, vitamin C (0.7 mg, 0.6 to 0.8, and folate (12.3 µg, 9.7 to 20.4 in their total diet than children eating packed lunches. Implementation of school food policy standards was associated with significant improvements in the nutritional content of school lunches; this was reflected in children's total diet. School food- and nutrient-based standards can play an important role in promoting dietary health and may contribute to tackling childhood obesity. Similar policy measures should be considered for other environments influencing children's diet.

  8. The contribution of fiscal/financial decentralization to the debt expansion of the local financing platform

    Science.gov (United States)

    Huayang, Yin; Di, Zhou; Bing, Cui

    2018-02-01

    Using soft budget theory to explore the formation mechanism and the deep institutional incentive of the local financing platform debt expansion from the perspective of fiscal / financial decentralization, construct theoretical framework which explain the expansion of local debt financing platform and conduct an empirical test, the results showed that the higher the degree of fiscal decentralization, fiscal autonomy as a soft constraint body of local government the stronger, local financing platform debt scale is greater; the higher the degree of financial decentralization, local government and financial institutions have the higher autonomy with respect to the central, local financing platform debt scale is bigger; financial synergy degree is stronger, local government financial mutual supervision prompted the local government debt more transparency, local debt financing platform size is smaller.

  9. Mechanism Research on Standardized Development of Rural Private Finance

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    In generalizing the researching conditions of researchers on private finance,the paper introduces the connoted meaning of rural private finance broadly and narrowly.The paper states the forms of rural private finance(including private loaning,private bank,rural private collecting,financing organizations,cooperatives,NGO,small loaning organizations and so on),the relations between rural private finance and rural economic relations,pointing out that it is the combination of the strong and the weak,which may generate benefits with the operation of marketing mechanisms.The paper analyzes the historical causes,supervision causes and cultural causes of rural private finance,discussing mechanisms of standardized development of rural private finance:firstly,standardize the organization management mechanisms,including scaled controlling mechanisms and bank management mechanisms;secondly,complete finance supervision mechanisms;thirdly,moderate government intervention,including affording liberal policy environment and reducing the improper intervention;fourthly,upgrading qualities mechanisms,including cultivating the rural credit culture and improving the quality of regulatory personnel.

  10. Financing of Renewable Energy Projects

    International Nuclear Information System (INIS)

    Santizo, Rodolfo; Berganza, Jose

    2000-01-01

    The paper describes the role of the Banco Centroamericano de Integracion Economica in financing renewable energy projects in Central America. Also decribes the different financing modes to the goverment and private sectors

  11. Finance and the nuclear industry

    International Nuclear Information System (INIS)

    Radtke, G.G.

    1983-01-01

    The subject is discussed under the headings: the energy situation today; energy investment and capital requirements (finding the necessary funds); further possibilities; future financing (project financing); summary. (U.K.)

  12. NPS transportation innovative finance options

    Science.gov (United States)

    2013-05-01

    This paper provides a summary of innovative transportation finance techniques and discusses their applicability to the National Park Service (NPS). The primary finding of this analysis is that while NPS is engaging in innovative finance techniques su...

  13. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

    In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...

  14. 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.

  15. 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...

  16. Financing bidders in takeover contests

    NARCIS (Netherlands)

    Vladimirov, V.

    2014-01-01

    This paper studies how bidders' choice of financing for cash bids affects takeover prices. Endogenizing this choice shows that takeover premia are lower than when bidders are not cash-constrained for equity-like financing, but higher for debt financing. Intuitively, unlike debt (which leads to

  17. Corporate Law and Corporate Governance

    OpenAIRE

    Roberta Romano

    1998-01-01

    We have seen a revival in interest in corporate law and corporate governance since the 1980s, as researchers applied the tools of the new institutional economics and modern corporate finance to analyze the new transactions emerging in the 1980s takeover wave. This article focuses on three mechanisms of corporate governance to illustrate the analytical usefulness of transaction cost economics for corporate law. They are the board of directors; relational investing, a form of block ownership in...

  18. 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.

  19. Governar o estado para a participação de entidades privadas na provisão, financiamento e gestão dos sistemas educativos na União Europeia Governing the State for the involvement of private commercial and non-commercial entities in the provision, financing and management of education systems in the European Union

    Directory of Open Access Journals (Sweden)

    Clementina Marques Cardoso

    2009-10-01

    Full Text Available A participação de entidades privadas comerciais¹ e não-comerciais na gestão, financiamento, provisão, avaliação e inspecção da educação na União Europeia é consolidada através de parcerias, contratação directa, criação de serviços paralelos. Essa consolidação é mediada pelas condições histórico-político-económicas de cada país e o seu quadro de acção distingue-se das regras de decisão pública. As funções do Estado e o papel do governo alteram-se para acompanhar e estimular essa participação e os efeitos desta alteração são vísiveis ao nível das regras da gestão, administração, financiamento e actividade reguladora que se reconfiguram como consequência da redefinição dos mecanismos de financiamento e do que se entende por autonomia escolar.The involvement of private commercial and noncommercial entities in the management, financing, provision, assessment and inspection of education in the European Union is consolidating through partnerships and commercial contracts and the creation of parallel services. This consolidation is mediated by each country's historical-political-economic conditions and its framework of action is different from public decision-making rules. The functions of the state and the role of governments are changing to follow and to stimulate such involvement. The effects of such changes can be seen in the rules of management, administration, financing and regulatory activities, which that are reconfigured by the redefinition of financing mechanisms and by what is understood to be school autonomy.

  20. The governance of director networks

    NARCIS (Netherlands)

    Renneboog, L.D.R.; Zhou, Y.; Wright, M.; Siegel, D.; Keasey, K.; Filatotchev, I.

    2013-01-01

    This chapter studies director networks, which have gained increasing attention from sociology, finance, and management. It considers the argument that these networks have an interesting role in corporate governance and then reviews their rules in major developed countries. The chapter goes on to

  1. Finance and Economic Development

    Directory of Open Access Journals (Sweden)

    Ugo Panizza

    2012-03-01

    Full Text Available Published by Palgrave MacmillanThis chapter reviews the literature on finance and economic development. It starts with a description of the roles of finance, a definition of financial efficiency, and a discussion of whether countries may have financial sectors that are ‘too large’ compared to the size of the domestic economy. Next, the author describes several indicators of financial development and reviews the literature on the relationship between financial development and economic growth. In the literature review, he discusses in detail some recent evidence indicating that the marginal contribution of financial development to gross domestic product (GDP growth becomes negative when credit to the private sector reaches 110 per cent of GDP. The chapter concludes with some policy conclusions targeted to developing countries.

  2. Statistics for Finance

    DEFF Research Database (Denmark)

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

    Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics...... that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical...... and mathematical techniques, including linear and nonlinear time series analysis, stochastic calculus models, stochastic differential equations, Itō’s formula, the Black–Scholes model, the generalized method-of-moments, and the Kalman filter. They explain how these tools are used to price financial derivatives...

  3. Financing Creative Destruction

    OpenAIRE

    Samaniego, Roberto

    2009-01-01

    This paper uncovers evidence of s potentially important channel linking financial development to growth: the financing of innovations introduced by entrepreneurs. Using internationally comparable data on European countries, entry and exit in research-intensive industries are found to be disproportionately sensitive to the level of financial development. Furthermore, financial development is related to increased R&D spending. The results are robust to several different measures of financial de...

  4. Property Rights and Finance

    OpenAIRE

    Simon Johnson; John McMillan; Christopher Woodruff

    2002-01-01

    Which is the tighter constraint on private sector investment: weak property rights or limited access to external finance? From a survey of new firms in post-communist countries, we find that weak property rights discourage firms from reinvesting their profits, even when bank loans are available. Where property rights are relatively strong, firms reinvest their profits; where they are relatively weak, entrepreneurs do not want to invest from retained earnings.

  5. Supply chain finance

    Directory of Open Access Journals (Sweden)

    Kasavica Petar

    2014-01-01

    Full Text Available The concept of supply chain finance is a response to global illiquidity, intensified through the global economic crisis and globalization of commercial and financial flows. The growing illiquidity undermines credit ratings of economic entities, thereby reducing the potential for achieving the projected goals (profitability and portfolio quality. In order to overcome this, banks have introduced certain products flexible to the requirements of specific transactions. The concerned products redirect the focus from a client's credit rating and risk to the credit rating and risk of a business partner (buyer, resulting in benefits for all transaction participants ('win-win-win'. Moreover, the activities are targeted at transaction analysis, i.e. the isolation and protection of the cash flow as the source of financial instrument's repayment. On the other hand, there has been an increasing number of transactions based on the risk of the commercial bank of the client's business partner, or on the risk of collateral (inventory. The focus is actually placed on the financing of adequate supply chain stages, given that counterparty relationship management has been proven to be crucial for efficient management of one's own business. The tensions existing in the relations between partners (increasingly long payment deadlines are in the basis of the supply chain finance concept. Decisions made by banks are based on the entire supply chain (wide information basis, thereby shifting the focus from the product (as was the case before the crisis to the client's needs. Thus, decisions become increasingly comprehensive, quicker, and more precise, and portfolios less risky. Through the individual portfolio of banks, the market of national economies also becomes safer and more liquid. These are rather profitable transactions, because, due to the risk transfer, financing is enabled to companies to whom classic crediting in most cases is not available.

  6. The Finance Franchise

    OpenAIRE

    Omarova, Saule; Hockett, Robert

    2018-01-01

    102 Cornell Law Review 1143 (2017) The dominant view of banks and other financial institutions is that they function primarily as intermediaries, managing flows of scarce funds from those who have accumulated them to those who have need of them and can pay for their use. This understanding pervades textbooks, scholarly writings, and policy discussions – yet it is fundamentally false as a description of how a modern financial system works. Finance today is no more primarily “intermediated” tha...

  7. 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......Recently several European countries have abolished the traditional public service licence fee system, replacing it with direct public funding. But except for Iceland, the Nordic countries have not followed suit. The article discusses this development within a comparative framework of Public Service...

  8. Social security financing.

    Science.gov (United States)

    1980-05-01

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

  9. [Dilemmas of health financing].

    Science.gov (United States)

    Herrera Zárate, M; González Torres, R

    1989-01-01

    The economic crisis had had a profound effect on the finances of health services in Mexico. The expenditure on health has decreased, both in absolute terms and in relation to the national gross product. Funding problems have been aggravated by inequities in budget distribution: social security institutions have been favored; geographical distribution of resources is concentrated in the central areas of the country and in the more developed states, and curative health care has prevailed over preventive medicine. Administrative inefficiency hinders even more the appropriate utilization of resources. Diversification of funding sources has been proposed, through external debt, local funding, and specific health taxing. But these proposals are questionable. The high cost of the debt service has reduced international credits as a source of financing. Resource concentration at the federal level, and the different compromises related to the economic solidarity pact have also diminished the potentiality of local state financing. On the other hand, a special health tax is not viable within the current fiscal framework. The alternatives are a better budget planning, a change in the institutional and regional distribution of resources, and improvement in the administrative mechanisms of funding.

  10. Financing of nuclear projects

    International Nuclear Information System (INIS)

    Diel, R.

    1983-01-01

    Delays in the completion of nuclear power plants aggravate the financing of such ventures because the contractual sums to be paid for interest and amortization are not generated. Moreover, economic feasibility analyses by the banks are rendered ineffective by changes in the underlying data, such as the structure of electricity rates and the supply monopoly held by utilities. The German nuclear power plants at present in operation or under construction were financed mainly through subsidiares of the participating utilities outside the balance sheets of the parent companies. The banks have developed a number of financing concepts to adapt funding to the specific needs of practice. Future nuclear power plants make-up one third of the present capacity of the participating utilities. However, they will require three to four times the previous volume of capital investments. Yet it is certain that the expansion of nuclear power in the Federal Republic of Germany will not be hampered by financial problems. The funding models developed for nuclear power plants have already proved their qualities. However, the problems of nuclear power have not become less. Attention must also be drawn to some weak spots in the financial sector. (orig.) [de

  11. 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...

  12. Humanizing Finance by Hedging Property Values

    Directory of Open Access Journals (Sweden)

    Jaume Roig Hernando

    2016-06-01

    Full Text Available The recent financial crisis triggered the greatest recession since the 1930s and had a devastating impact on households’ wealth and on their capacity to reduce their indebtedness. In the aftermath, it became clear that there is significant room for improvement in property risk management. While there has been innovation in the management of corporate finance risk, real estate has lagged behind. Now is the time to expand the range of tools available for hedging households’ risks and, thus, to advance the democratization of finance. Property equity represents the major asset in households’ portfolios in developed and undeveloped countries. The present paper analyzes a set of potential innovations in real estate risk management, such as price level-adjusted mortgages, property derivatives, and home equity value insurance. Financial institutions, households, and governments should work together to improve the performance of the financial instruments available and, thus, to help mitigate the worst impacts of economic cycles.

  13. Project financing renewable energy schemes

    International Nuclear Information System (INIS)

    Brandler, A.

    1993-01-01

    The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)

  14. Financing U.S. exploration

    International Nuclear Information System (INIS)

    Dell'Osso, L. Jr.

    1990-01-01

    This paper discusses the challenges of financing U.S. exploration from the perspective of an independent oil and gas producer. When Burlington Resources was split into a separate company from the Burlington Northern Railroad three years ago, the company owned extensive resources but had little production capability, and had to resolve the problem of raising development capital. According to the author of this paper, three key elements in the company's perception of the business environment drove its strategy: that the role of independent producers would be crucial in new onshore oil and gas development as the majors moved offshore; that energy prices would remain weak; and that financial market sentiment would not favor a move to leverage the company more highly than its starting-point of 19 percent debt-to-total capital ratio

  15. 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...

  16. 31 CFR 596.310 - Terrorism List Government.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Terrorism List Government. 596.310... OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY TERRORISM LIST GOVERNMENTS SANCTIONS REGULATIONS General Definitions § 596.310 Terrorism List Government. The term Terrorism List Government...

  17. Projections of costs, financing, and additional resource requirements for low- and lower middle-income country immunization programs over the decade, 2011-2020.

    Science.gov (United States)

    Gandhi, Gian; Lydon, Patrick; Cornejo, Santiago; Brenzel, Logan; Wrobel, Sandra; Chang, Hugh

    2013-04-18

    The Decade of Vaccines Global Vaccine Action Plan has outlined a set of ambitious goals to broaden the impact and reach of immunization across the globe. A projections exercise has been undertaken to assess the costs, financing availability, and additional resource requirements to achieve these goals through the delivery of vaccines against 19 diseases across 94 low- and middle-income countries for the period 2011-2020. The exercise draws upon data from existing published and unpublished global forecasts, country immunization plans, and costing studies. A combination of an ingredients-based approach and use of approximations based on past spending has been used to generate vaccine and non-vaccine delivery costs for routine programs, as well as supplementary immunization activities (SIAs). Financing projections focused primarily on support from governments and the GAVI Alliance. Cost and financing projections are presented in constant 2010 US dollars (US$). Cumulative total costs for the decade are projected to be US$57.5 billion, with 85% for routine programs and the remaining 15% for SIAs. Delivery costs account for 54% of total cumulative costs, and vaccine costs make up the remainder. A conservative estimate of total financing for immunization programs is projected to be $34.3 billion over the decade, with country governments financing 65%. These projections imply a cumulative funding gap of $23.2 billion. About 57% of the total resources required to close the funding gap are needed just to maintain existing programs and scale up other currently available vaccines (i.e., before adding in the additional costs of vaccines still in development). Efforts to mobilize additional resources, manage program costs, and establish mutual accountability between countries and development partners will all be necessary to ensure the goals of the Decade of Vaccines are achieved. Establishing or building on existing mechanisms to more comprehensively track resources and

  18. Health care financing: recent experience in Africa.

    Science.gov (United States)

    Dunlop, D W

    1983-01-01

    The economic realities of health sector development in Africa has been analyzed in this paper. Both the global and national macroeconomic context has been defined. Given the available data, it is clear that most African countries face increasingly serious economic realities, such as slow or even declining economic growth (per capita), a depressed food production situation, severe balance of payments crises, and increasing dependence on external financial assistance. Given the limited but increasingly available 1981 and 1982 data, the economic situation in many countries is more constrained than those indicated by the data contained in this paper. In this context, the potential competitive situation facing governmental health care systems was reviewed. In addition, the diversity in the sources of health expenditures between countries in Africa was highlighted. These data provide clear evidence that governments clearly do not finance the entire health care system and that individual payment for service in many countries represent an important source of revenue for many care providers in various health care systems operating in any given country. The potential for governments to finance either an expansion of or improvements to the government component of their health care systems is then reviewed. The highlights of this analysis include the following points. First, the tax structure in many African countries is highly dependent on export and import duties, which in turn creates dependency on sustained foreign demand for exports.(ABSTRACT TRUNCATED AT 250 WORDS)

  19. 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...

  20. Fuel-cycle financing, capital requirements and sources of funds

    International Nuclear Information System (INIS)

    Manderbach, R.W.

    1977-01-01

    An issue of global importance today is the economic case fro nuclear power and the conservation of precious fossil resources. An important question is whether sufficient financial resources can be attracted to the nuclear industry in order to develop a complete fuel-cycle industry capable of meeting the requirements of a global nuclear power industry. Future growth of the nuclear power industry will depend largely on the timely development of a private competitive industry covering the total fuel cycle. The report of the Edison Electric Institute on Nuclear Fuels Supply estimates that by 1985 initial capital investmentor in the nuclear fuel cycle will total US$15x10 9 and by the year 2000, US$60x10 9 will be required. Although the amount of funding projected is manageable from a global availability standpoint, there is a hesitancy to commit financial resources to certain segments of the fuel cycle, because of the many unresolved problems in connection with the nuclear industry - uncertainty regarding local and international governmental regulations and legislation, environmental and alternative technological considerations coupled with the substantial long-term capital commitments needed in each of the several segments of the processes. Activities associated with the nuclear fuel cycle have unique investment requirements, which are needed in many diverse unrelated fields such as resource development and high technology process. This paper examines sources of capital on a national scale, such as net earnings, depreciation, capital market and public subsidies; and, in the broader context, capital investments in highly industrialized and developing countries. Possible areas of government guarantees and financing; and the situation on financing fuel-cycle projects in the USA and in other countries is also discussed. Comments are included on the money market and investment climate in developing countries, particularly regarding the development of uranium resources

  1. Using evidence to strengthen accountability for health financing in Sierra Leone.

    Science.gov (United States)

    Lebbie, Sowo A; Le Voir, Rosanna; Tom-Kargbo, Joanna; Yilla, Mohamed Drissa; Kamara, Abu Bakarr; Nam, Sara L

    2016-12-01

    In 2012, the government of Sierra Leone cut the national budget allocation to the health sector. Civil society organizations planned a nationwide health budget advocacy campaign, coinciding with the 2012 general elections, to hold future leaders to account on financing for women's and children's health. As part of the campaign, Evidence for Action produced district health budget tracking scorecards. The scorecards presented Ministry of Finance data on the allocation and disbursement of health funds in each district. The data were communicated using simple, non-technical language so that citizens could understand the key messages and take action. A total of 5600 scorecards were shared at district electoral forums attended by political candidates, community members, and health activists. Since the election, the proportion of the total government budget allocated to health increased from 7.4% in 2012 to 11.2% in 2014. However, transforming politicians' commitments and pledges into implementation has been challenging, confirming that accountability is a long-term process. Copyright © 2016 International Federation of Gynecology and Obstetrics. Published by Elsevier Ireland Ltd. All rights reserved.

  2. Costs and financing of routine immunization: Approach and selected findings of a multi-country study (EPIC).

    Science.gov (United States)

    Brenzel, Logan; Young, Darwin; Walker, Damian G

    2015-05-07

    Few detailed facility-based costing studies of routine immunization (RI) programs have been conducted in recent years, with planners, managers and donors relying on older information or data from planning tools. To fill gaps and improve quality of information, a multi-country study on costing and financing of routine immunization and new vaccines (EPIC) was conducted in Benin, Ghana, Honduras, Moldova, Uganda and Zambia. This paper provides the rationale for the launch of the EPIC study, as well as outlines methods used in a Common Approach on facility sampling, data collection, cost and financial flow estimation for both the routine program and new vaccine introduction. Costing relied on an ingredients-based approach from a government perspective. Estimating incremental economic costs of new vaccine introduction in contexts with excess capacity are highlighted. The use of more disaggregated System of Health Accounts (SHA) coding to evaluate financial flows is presented. The EPIC studies resulted in a sample of 319 primary health care facilities, with 65% of facilities in rural areas. The EPIC studies found wide variation in total and unit costs within each country, as well as between countries. Costs increased with level of scale and socio-economic status of the country. Governments are financing an increasing share of total RI financing. This study provides a wealth of high quality information on total and unit costs and financing for RI, and demonstrates the value of in-depth facility approaches. The paper discusses the lessons learned from using a standardized approach, as well as proposes further areas of methodology development. The paper discusses how results can be used for resource mobilization and allocation, improved efficiency of services at the country level, and to inform policies at the global level. Efforts at routinizing cost analysis to support sustainability efforts would be beneficial. Copyright © 2015 Elsevier Ltd. All rights reserved.

  3. 25 CFR 170.300 - May tribes use flexible financing to finance IRR transportation projects?

    Science.gov (United States)

    2010-04-01

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

  4. Exporting nuclear engineering and the government's viewpoint

    International Nuclear Information System (INIS)

    Schill, H.

    1986-01-01

    The reasons for the government's positive attitude to nuclear engineering exports are explained, especially with regard to them being a compensation of the decreasing domestic demand. The federal government considers such exports to be necessary and correct for economical and energy-political reasons. Their contribution reaches from accompanying measures to the provision of state guarantees of export financing activities. (UA) [de

  5. Corporate governance and development - an update

    NARCIS (Netherlands)

    Claessens, S.; Yurtoglu, B.

    2012-01-01

    This paper reviews the relationships between corporate governance and economic development and well-being. It finds that better-governed corporate frameworks benefit firms through greater access to financing, lower cost of capital, better firm performance, and more favorable treatment of all

  6. Complexity in Vocational Education and Training Governance

    Science.gov (United States)

    Oliver, Damian

    2010-01-01

    Complexity is a feature common to all vocational education and training (VET) governance arrangements, due to the wide range of students VET systems caters for, and the number of stakeholders involved in both decision making and funding and financing. In this article, Pierre and Peter's framework of governance is used to examine complexity in VET…

  7. Energy storage financing :

    Energy Technology Data Exchange (ETDEWEB)

    Baxter, Richard

    2016-08-01

    Project financing is emerging as the linchpin for the future health, direction, and momentum of the energy storage industry. Market leaders have so far relied on selffunding or captive lending arrangements to fund projects. New lenders are proceeding hesitantly as they lack a full understanding of the technology, business, and credit risks involved in this rapidly changing market. The U.S. Department of Energy is poised to play a critical role in expanding access to capital by reducing the barriers to entry for new lenders, and providing trusted analytical benchmarks to better judge and price the risk in systematic ways.

  8. F# for quantitative finance

    CERN Document Server

    Astborg, Johan

    2013-01-01

    To develop your confidence in F#, this tutorial will first introduce you to simpler tasks such as curve fitting. You will then advance to more complex tasks such as implementing algorithms for trading semi-automation in a practical scenario-based format.If you are a data analyst or a practitioner in quantitative finance, economics, or mathematics and wish to learn how to use F# as a functional programming language, this book is for you. You should have a basic conceptual understanding of financial concepts and models. Elementary knowledge of the .NET framework would also be helpful.

  9. Delays help German utilities maintain self-financing ratios. [Financing nuclear power projects

    Energy Technology Data Exchange (ETDEWEB)

    Radtke, G [Dresden Bank, AG (Germany, F.R.)

    1979-05-01

    Estimates of electricity consumption have been substantially reduced and nuclear plant is now expected to be 22% of total generating capacity in 1985 instead of the earlier forecast of 36%. The decline in the ordering of new plant has benefited the financial position of the electricity utilities and the expected fall in self-financing ratios has not occurred.

  10. India's Health Initiative: Financing Issues and Options

    OpenAIRE

    Deolalikar, Anil B.; Jamison, Dean T.; Laxminarayan, Ramanan

    2007-01-01

    In response to the challenge of sustaining the health gains achieved in the better-performing states and ensuring that the lagging states catch up with the rest of the country, the Indian government has launched the National Rural Health Mission. A central goal of the effort is to increase public spending on health from the current 1.1 percent of GDP to roughly 2–3 percent of GDP within the next five years. In this paper, we examine the current status of health financing in India, as well as ...

  11. Trade Finance during the 2008–9 Trade Collapse : Key Takeaways

    OpenAIRE

    Chauffour, Jean-Pierre; Malouche, Mariem

    2011-01-01

    Trade finance matters for trade, and when financial markets and world trade collapsed three years ago, a shortage in trade finance was hailed as a possible culprit. Because of the potential for global repercussions, world leaders called on the international community to act swiftly to avoid a depression. Governments and international institutions intervened to mitigate the impacts of the c...

  12. Study on Mapping the Market Potential and Accelerating Finance for Women Entrepreneurs in Bangladesh

    OpenAIRE

    Singh, Sanjana; Asrani, Radhika; Ramaswamy, Anupama

    2016-01-01

    International Finance Corporation (IFC) conducted a survey to identify opportunities and provide recommendations for facilitating finance for women small and medium enterprise (SME) entrepreneurs. Various stakeholders were interviewed during the survey which included 500 women SME entrepreneurs, women centric business associations, relevant government organizations as well as other associa...

  13. Mountain Plains Learning Experience Guide: Marketing. Course: Business Finance and Control.

    Science.gov (United States)

    Egan, B.

    One of thirteen individualized courses included in a marketing curriculum, this course covers control of expenses, inventory control, analysis of financial statements, and government regulations pertaining to business. The course is comprised of three units: (1) Fundamentals of Finance, (2) Merchandise Finance and Control, and (3) Food and…

  14. Corporate governance cycles during transition

    DEFF Research Database (Denmark)

    Jones, Derek C.; Mygind, Niels

    2004-01-01

    -sures for restructuring produce strong impulses for ownership changes. There is limited possibility for external finance because of the embryonic development of the banking system and the capital markets during early transition. The governance cycle is also influenced by specific features of the institutional, cultural...... is faster in Estonia and this can be explained by the relatively fast pace of institutional change and evolution of important gov-ernance institutions, including tough bankruptcy legislation and advances in the financial system. JEL-codes: G3, J5, P2, P3 Keywords: corporate governance, life...

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

    National Research Council Canada - National Science Library

    Islam, Saiful

    2004-01-01

    This project examines the structure of public infrastructure financing in Indonesia and examines whether financing based on Islamic principles is a feasible alternative to current financing mechanisms...

  16. Empirical techniques in finance

    CERN Document Server

    Bhar, Ramaprasad

    2005-01-01

    This book offers the opportunity to study and experience advanced empi- cal techniques in finance and in general financial economics. It is not only suitable for students with an interest in the field, it is also highly rec- mended for academic researchers as well as the researchers in the industry. The book focuses on the contemporary empirical techniques used in the analysis of financial markets and how these are implemented using actual market data. With an emphasis on Implementation, this book helps foc- ing on strategies for rigorously combing finance theory and modeling technology to extend extant considerations in the literature. The main aim of this book is to equip the readers with an array of tools and techniques that will allow them to explore financial market problems with a fresh perspective. In this sense it is not another volume in eco- metrics. Of course, the traditional econometric methods are still valid and important; the contents of this book will bring in other related modeling topics tha...

  17. Financing energy development

    International Nuclear Information System (INIS)

    Kariwara, Y.

    1990-01-01

    The 1990s is likely to be a decade of double growth: in energy demand and environmental protection. This leads the author of this paper to ask the pertinent questions of where the money will come from, and in what form, to finance the growth in capacity to produce this energy and the technology required to produce and burn it cleanly. With a focus on Asian energy markets, this paper first illustrates the problem by describing the rapid growth of energy demand in the region. It describes the growth in Japan as well as China and the fast-growing economies of Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, and Thailand. Energy demand growth rates of almost 5 percent in the 1980s are expected to continue to grow at that rate at least until 2005, doubling today's level of consumption and putting the energy supply system under great strain. Because of the large sums involved, this paper pints out the necessity of inventing new, innovative devices for future fund raising. This will require the participation of institutions such as insurance companies and regional banks that have little experience in the energy field. This paper suggests that these and the established players in energy finance will have recourse to two new approaches: Build-Operate-Transfer and Trustee Borrowing schemes

  18. Nuclear financing in Spain

    International Nuclear Information System (INIS)

    Urrutia, C.G.-T.

    1975-04-01

    The basic objectives of the Spanish National Energy Plan are summarized as (1) To obtain maximum guarantees for continuity of supplies, (2) Reduce the cost of energy supplies to the maximum possible degree, (3) Reduce the difference in the balance of payments due to importation of primary energy sources, (4) Pro-mote the rational use of energy with the aim of moderating the growth rates in demand without affecting economic development (5) Reduce to an economical minimum the effect on the environment of energy-producing installations, and (6) Contribute to the technological development of the country and promote research in the energy field. To fulfil these objectives, the following forecasts are made: With the Gross National Product increasing at a rate of 5% or 6%, the demand on primary energy sources in 1985 will be 173 or 194 million e.c.t. (equivalent coal tons), i.e. annual growth rates of energy consumption of 6% and 7.2% respectively, compared with growths during the last decade of 9.2%. It is projected that generation of electrical energy from nuclear sources will grow to attain in a share of approximately 60% by 1985, i.e. an installed nuclear power level of 23.8.GW. The cost of the Spanish National Energy Plan, particularly the cost and financing of the nuclear program, is reviewed. Finally, the growing need for self-financing is stressed. (B.P.)

  19. Financing wind energy projects

    International Nuclear Information System (INIS)

    Blom, P.

    1996-01-01

    Triodos Bank has more than 10 years of experience with developing and financing wind projects in the Netherlands. Over 50 Megawatt has been installed with direct involvement of the bank. The experience is both as a bank and as a venture capital fund. In this contribution the perspective will be more from a venture capital point of view than as a bank. The bank's activities in the wind energy sector started in 1986 by forming a joint venture with an engineering bureau, experienced i wind energy but not yet in developing wind projects. From 1989 onwards the joint venture started to build wind farms, both as a private company and in a joint venture with utilities. The European Investment Bank became involved with a long-term debt finance facility (15 years, fixed interest loan). The main difficulties were long-term commitments from landowners (Dike authorities) and utilities with regard to power contracts. The development got really stuck when utilities refused to pay a fair price anymore. Also, site development became more and more difficult. Even the poor technical performance improved drastically and did not frighten developers and banks too much. (author)

  20. Financing Early Childhood Education Programs: State, Federal, and Local Issues

    Science.gov (United States)

    Hustedt, Jason T.; Barnett, W. Steven

    2011-01-01

    The landscape of financing early childhood education in the U.S. is complex. Programs run the gamut from tuition-supported private centers to public programs supported by federal, state, or local funds. Different funding streams are poorly coordinated. The federal government funds several major targeted programs that are available only to specific…

  1. Financing Training in Developing Countries: The Role of Payroll Taxes.

    Science.gov (United States)

    Whalley, John; Ziderman, Adrian

    1990-01-01

    Although in most developing countries, major vocational training programs are financed from general government revenues, earmarked payroll taxes are becoming increasingly popular. This paper summarizes international experience with these payroll taxes, distinguishing between the more traditional revenue-raising schemes of the Latin American model…

  2. Promoting Sustainable Public Finances in the European Union

    DEFF Research Database (Denmark)

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

    2016-01-01

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

  3. The taxpayer-shareholder fallacy and private finance initiatives

    NARCIS (Netherlands)

    de Vries, Pieter

    2007-01-01

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

  4. Financing School Capital Projects in New York State.

    Science.gov (United States)

    Howe, Edward T.

    1990-01-01

    Financing school capital projects in New York State is a responsibility involving both local school districts and the state government. State building aid is provided through an aid ratio and approved expenditure formula. This formula has an equalizing effect among districts by explicitly providing an aid amount inversely proportional to property…

  5. Political Economy of Finance

    NARCIS (Netherlands)

    Perotti, E.

    2013-01-01

    This survey reviews how a recent political economy literature helps explaining variation in governance, competition, funding composition and access to credit. Evolution in political institutions can account for financial evolution, and appear critical to explain rapid changes in financial structure,

  6. Asset Pricing Implications of Firms' Financing Constraints

    OpenAIRE

    Gomes, Joao F; Yaron, Amir; Zhang, Lu

    2002-01-01

    We incorporate costly external finance in a production based asset pricing model and investigate whether financing frictions are quantitatively important for pricing a cross-section of expected returns. We show that the common assumptions about the nature of the financing frictions are captured by a simple ‘financing cost’ function, equal to the product of the financing premium and the amount of external finance. This approach provides a tractable framework to examine the role of financing fr...

  7. An overview of federal government financial involvement in the Canadian nuclear program

    International Nuclear Information System (INIS)

    Wallace, T.W.

    1981-01-01

    The government of Canada has had a financial involvement with the nuclear industry in four areas: nuclear power development, including expenditures for research and development, prototype reactors, and regulation; uranium industry support, including the operations of Eldorado Nuclear Ltd. and the uranium stockpiling program; the financing of nuclear reactors, activities in which the federal government has acted as a banker for the sale of reactors; and heavy water production. Up to 1978-79 total federal expenditures of around $3.4 billion in current collars had been invested. Of this amount, about 56 percent was associated with nuclear power development, 2 percent with uranium industry support, 22 percent with heavy water, and 22 percent with financing reactor sales

  8. Quality of Public Finance and Economic Growth in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Irena Szarowská

    2016-01-01

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

  9. Impact of Tax Relief on Public Finance

    Directory of Open Access Journals (Sweden)

    Bikas Egidijus

    2016-12-01

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

  10. Interactive governance

    DEFF Research Database (Denmark)

    Sørensen, Eva; Torfing, Jacob; Peters, B. Guy

    Governance has become one of the most commonly used concepts in contemporary political science. It is, however, often used to mean a variety of different things. This book helps to clarify this conceptual muddle by concentrating on one variety of governance-interactive governance. The authors argue...... that although the state may remain important for many aspects of governing, interactions between state and society represent an important, and perhaps increasingly important, dimension of governance. These interactions may be with social actors such as networks, with market actors or with other governments......, but all these forms represent means of governing involving mixtures of state action with the actions of other entities.This book explores thoroughly this meaning of governance, and links it to broader questions of governance. In the process of explicating this dimension of governance the authors also...

  11. Do Financial Constraints Moderate the Impact of Financing Decisions From Internal-financing Sources on Investment?

    Directory of Open Access Journals (Sweden)

    Andewi Rokhmawati

    2017-07-01

    Full Text Available To prevent investment growth in 2013 to 2015 from decreasing, the Industrial Ministry provided fiscal incentives to stimulate investment-growth. Nevertheless, the investment growth of manufacturing firms still declined. This condition indicated that fiscal stimulus might be ineffective to prevent investment-growth from declining. The decline of investment might be influenced by the increase of firm financial constraints to access a source of long term debts. This study aimed to examine the influence of financial constraints in moderating the effect of financing decisions from internal financing sources on investment. The population of the study was all listed-manufacturing firms in Indonesia from 2013 to 2015. Samples were chosen based on the availability of firms’ financial report covering the period of the study. The study concluded that financial constraints significantly weaken the effect of internal funding decision on investment. Unconstrained firms had a higher beta than constrained firms. Although unconstrained firms had an opportunity to choose their source of funding, they preferred to finance their investment from cash flows because the cost of debts might be much higher than the cost of equity.Hence, to help firms to finance their feasible investment opportunity, the government should not only provide tax incentives but also provide a low-interest loan.

  12. FINANCING CAPACITY, AN INDICATOR OF SELF FINANCING FOR COMPANIES

    Directory of Open Access Journals (Sweden)

    Teodor Hada

    2013-12-01

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

  13. Angels and IPOs: Policies for Sustainable Equity Financing of Irish Small Businesses

    OpenAIRE

    Mulcahy, Diane

    2005-01-01

    Angels and IPOs: Policies for Sustainable Equity Financing of Irish Small Businesses explores the rationale for the Irish government?s investments of more than 300 million Euro in Irish companies and the domestic venture capital industry. It challenges the conventional wisdom that there is an `equity gap? of early stage risk capital in Ireland. In the context of the equity financing cycle, it discusses the limited supply of angel capital available to Irish firms as well as the `exit gap? resu...

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

    OpenAIRE

    Asian Development Bank (ADB)

    2014-01-01

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

  15. 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.

  16. Financing electricity expansion

    International Nuclear Information System (INIS)

    Hyman, L.S.

    1994-01-01

    Expansion of electricity supply is associated with economic development. The installation and enlargement of power systems in developing countries entails a huge financial burden, however. Energy consumers in such countries must pay not only for supplies but for the cost of raising the capital for expansion on the international markets. Estimates are presented for the capital expenditure for electricity supply over the period 1990 to 2020 for the major world regions, using approximations for the cost of plant and capital and for the returns earned. These data lead to the conclusion that the five regions with the lowest per capita incomes are those which will need the major part of the capital expenditure and the highest percentage of external finance. (6 tables) (UK)

  17. Applied quantitative finance

    CERN Document Server

    Chen, Cathy; Overbeck, Ludger

    2017-01-01

    This volume provides practical solutions and introduces recent theoretical developments in risk management, pricing of credit derivatives, quantification of volatility and copula modeling. This third edition is devoted to modern risk analysis based on quantitative methods and textual analytics to meet the current challenges in banking and finance. It includes 14 new contributions and presents a comprehensive, state-of-the-art treatment of cutting-edge methods and topics, such as collateralized debt obligations, the high-frequency analysis of market liquidity, and realized volatility. The book is divided into three parts: Part 1 revisits important market risk issues, while Part 2 introduces novel concepts in credit risk and its management along with updated quantitative methods. The third part discusses the dynamics of risk management and includes risk analysis of energy markets and for cryptocurrencies. Digital assets, such as blockchain-based currencies, have become popular b ut are theoretically challenging...

  18. Romanian SMEs Financing Options:

    Directory of Open Access Journals (Sweden)

    Ioan E. Nistor

    2013-11-01

    Full Text Available One of the most pressing problems faced by micro, small and medium sized enterprises (henceforth SMEs in Europe is the access to sufficient funds to sustain their long term growth. Romanian SMEs make no exception. In this context the present paper focuses on analyzing the extent to which external funding sources have contributed to the value added created by the Romanian SMEs between 2007 and 2011.The investigation’s results indicate the existence of a causal link between some forms of external financing (namely bank loans, leasing, factoring, guarantee products and European funds and the value added created by the Romanian micro, small and medium sized enterprises in the aforementioned period.

  19. Does literacy improve finance?

    Science.gov (United States)

    Poon, Martha; Olen, Helaine

    2015-04-01

    When economists ask questions about basic financial principles, most ordinary people answer incorrectly. Economic experts call this condition "financial illiteracy," which suggests that poor financial outcomes are due to a personal deficit of reading-related skills. The analogy to reading is compelling because it suggests that we can teach our way out of population-wide financial failure. In this comment, we explain why the idea of literacy appeals to policy makers in the advanced industrial nations. But we also show that the narrow skill set laid out by economists does not satisfy the politically inclusive definition of literacy that literacy studies fought for. We identify several channels through which people engage with ideas about finance and demonstrate that not all forms of literacy will lead people to the educational content prescribed by academic economists. We argue that truly financial literate people can defy the demands of financial theory and financial institutions. © The Author(s) 2015.

  20. Financing children's vaccines.

    Science.gov (United States)

    Nelson, E Anthony S; Sack, David; Wolfson, Lara; Walker, Damian G; Seng, Lim Fong; Steele, Duncan

    2009-11-20

    A 2006 Commonwealth Association of Paediatric Gastroenterology and Nutrition workshop on financing children's vaccines highlighted the potential for vaccines to control diarrhoea and other diseases as well as spur economic development through better health. Clear communication of vaccination value to decision-makers is required, together with sustainable funding mechanisms. GAVI and partners have made great progress providing funding for vaccines for children in the poorest countries but other solutions may be required to achieve the same gains in middle- and high-income countries. World Health Organization has a wealth of freely available country-level data on immunisation that academics and advocates can use to communicate the economic and health benefits of vaccines to decision-makers.

  1. Romanian government bond market

    Directory of Open Access Journals (Sweden)

    Cornelia POP

    2012-12-01

    Full Text Available The present paper aims to present the level of development reached by Romanian government bond market segment, as part of the country financial market. The analysis will be descriptive (the data series available for Romania are short, based on the secondary data offered by the official bodies involved in the process of issuing and trading the Romanian government bonds (Romanian Ministry of Public Finance, Romanian National Bank and Bucharest Stock Exchange, and also on secondary data provided by the Federation of European Stock Exchanges.To enhance the market credibility as a benchmark, a various combination of measures is necessary; among these measures are mentioned: the extension of the yield curve; the issuance calendars in order to improve transparency; increasing the disclosure of information on public debt issuance and statistics; holding regular meetings with dealers, institutional investors and rating agencies; introducing a system of primary dealers; establishing a repurchase (repo market in the government bond market. These measures will be discussed based on the evolution presented inside the paper.The paper conclude with the fact that, until now, the Romanian government bond market did not provide a benchmark for the domestic financial market and that further efforts are needed in order to increase the government bond market transparency and liquidity.

  2. Financing wind projects

    International Nuclear Information System (INIS)

    Manson, J.

    2006-01-01

    This presentation reviewed some of the partnership opportunities available from GE Energy. GE Energy's ecomagination commitment has promised to double research investment, make customers true partners and reduce greenhouse gases (GHGs). GE Energy's renewable energy team provides a broad range of financial products, and has recently funded 30 wind farms and 2 large solar projects. The company has a diverse portfolio of technology providers and wind regimes, and is increasing their investment in technology. GE Energy recognizes that the wind industry is growing rapidly and has received increased regulatory support that is backed by strong policy and public support. It is expected that Canada will have 3006 wind projects either planned or under construction by 2007. According to GE Energy, successful wind financing is dependent on the location of the site and its wind resources, as well as on the wind developer's power sales agreement. The success of a wind project is also determined by clear financing goals. Site-specific data is needed to determine the quality of wind resource, and off-site data can also be used to provide validation. Proximity to load centres will help to minimize capital costs. Power sales agreements should be based on the project's realistic net capacity factor as well as on the cost of the turbines. The economics of many wind farms is driven by the size of the turbines used. Public consultations are also needed to ensure the success of wind power projects. It was concluded that a good partner will have staying power in the wind power industry, and will understand the time-lines and needs that are peculiar to wind energy developers. refs., tabs., figs

  3. Mastering R for quantitative finance

    CERN Document Server

    Berlinger, Edina; Badics, Milán; Banai, Ádám; Daróczi, Gergely; Dömötör, Barbara; Gabler, Gergely; Havran, Dániel; Juhász, Péter; Margitai, István; Márkus, Balázs; Medvegyev, Péter; Molnár, Julia; Szucs, Balázs Árpád; Tuza, Ágnes; Vadász, Tamás; Váradi, Kata; Vidovics-Dancs, Ágnes

    2015-01-01

    This book is intended for those who want to learn how to use R's capabilities to build models in quantitative finance at a more advanced level. If you wish to perfectly take up the rhythm of the chapters, you need to be at an intermediate level in quantitative finance and you also need to have a reasonable knowledge of R.

  4. Accounting & Finance; a Basic Introduction

    NARCIS (Netherlands)

    drs. Ewoud Jansen

    2011-01-01

    The book is about finance and accounting, subjects widely discussed in many other books. What sets this book apart from most others is that it discusses all the basic aspects of finance and accounting in one single textbook. Three areas of interest are discussed: Financial Management; Management

  5. Public Finance Administration. Second Edition.

    Science.gov (United States)

    Reed, B. J.; Swain, John W.

    This book is intended for the nonexpert in finance who has a public administration background. It opens with a broad introduction to public finance administration and how this job is related to public budgeting, the practice of public-sector accounting, and the economic concepts of money and value. Issues surrounding public revenue, its sources,…

  6. Financing bidders in takeover contests

    NARCIS (Netherlands)

    Vladimirov, V.

    2015-01-01

    This paper argues that endogenizing how acquirers finance their cash bids is just as important for understanding bidding in takeovers as endogenizing acquirers' payment method choice. The paper shows that acquirers finance their cash bids with equity only if they lack access to competitive

  7. Paiton II financing locked up

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-04-01

    The 2 x 610 MW Paiton II coal-fired independent power project in Indonesia became a reality last week with the completion of a 1.36 billion dollars commercial financing for the 1.65 billion dollar undertaking. Details of the financing are given. A table lists Indonesia`s independent power projects and their current status.

  8. Clean air and project financing

    International Nuclear Information System (INIS)

    Zimmer, M.J.

    1992-01-01

    This article examines how environmental requirements are challenging the developers ability to secure financing for independent energy projects. The topics addressed in the article include a review of the US Environmental Protection Agency auction rules for acid rain emission allowances, short term and long term market demand, project financing issues, credit value and matching interests

  9. Default risk in project finance

    NARCIS (Netherlands)

    Klompjan, R.; Wouters, Marc

    2002-01-01

    Understanding default risk in project finance is relevant to investors. This article investigates which factors are most strongly associated with the occurrence of project finance default, using data from 210 projects, of which 37 were in default. The authors found that the use of proven technology,

  10. The Possibilities of Strategic Finance

    Science.gov (United States)

    Chaffee, Ellen

    2010-01-01

    Strategic finance is aligning financial decisions--regarding revenues, creating and maintaining institutional assets, and using those assets--with the institution's mission and strategic plan. The concept known as "strategic finance" increasingly is being seen as a useful perspective for helping boards and presidents develop a sustainable…

  11. Family control and financing decisions

    NARCIS (Netherlands)

    Croci, Ettore; Doukas, John A.; Gonenc, Halit

    2011-01-01

    This study uses a comprehensive European dataset to investigate the role of family control in corporate financing decisions during the period 1998-2008. We find that family firms have a preference for debt financing, a non-control-diluting security, and are more reluctant than non-family firms to

  12. Interactive Governance

    DEFF Research Database (Denmark)

    Bang, Henrik

    2016-01-01

    Governance analysis has exploded in recent years, and it has become nearly impossible to tell what difference the concept and practice of governance makes from those of government and state. In addition governance analysis has been placed more and more in the shadow of the new institutionalisms and...... and growth. However, interactive governance is not a property or effect of institutions; nor does it apply solely to those individuals who seek success above everything else. It is connective more than individualistic or collectivistic in nature; and it manifests a governability capacity which...

  13. Financing the development of renewable energy projects of territorial interest

    International Nuclear Information System (INIS)

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

    2016-11-01

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

  14. 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...

  15. Capital financing in prospective payment.

    Science.gov (United States)

    Oszustowicz, R J; Dreachslin, J L

    1984-03-01

    In the era of prospective payment, arranging financing for hospital capital projects is expected to become even more complicated than under cost-based reimbursement systems. This article outlines the information needed for a bond issue in the prospective payment environment, defines the roles and duties of several external persons and organizations involved with planning a major capital financing, and provides an overview of the entire process. This article assumes for illustrative purposes that a tax-exempt bond issue is going to be used to finance a facility expansion. This method was chosen since over 70% of all major capital financing for hospitals use the tax-exempt bond as the principal vehicle for attracting the necessary debt to finance a major construction project. The tax-exempt bond issue also requires the most detail in documentation and legal provisions.

  16. Response to the Federal Finance Minister's invitation for industry consultation

    International Nuclear Information System (INIS)

    1986-01-01

    In March 1985, the Canadian Nuclear Association (CNA) presented an extensive brief to the Minister of Finance, Michael Wilson, in response to the challenge issued to Canadians in the Minister's document 'A New Direction for Canada'. This further brief has been prepared in the spirit of the Minister's letter to the CNA dated May 23rd, 1985 in which Mr. Wilson indicated his desire for continued participation of groups such as the CNA in the consultative process. Appended to this brief is a reference sheet entitled 'What Nuclear Energy Means to Canada'. The facts in this sheet are extracted from the 1985 brief and updated with the latest information. Since the major emphasis in energy related discussions is usually on supply and demand of hydrocarbons such as oil and gas, it may come as a suprise to most Canadians that Canada's uranium production contained twice the energy in Canada's crude oil production and exceeded the total energy in all of the country's crude and natural gas production in 1984. Another little known fact is that nuclear power will soon produce more electricity world-wide than all the world's hydro- electric plants. The CNA intends to more widely disseminate this knowledge to the Canadian public. As part of that process it is hoped that the importance of uranium both for domestic use and exports, and Canada's success in harnessing nuclear power for peaceful and beneficial applications, will be fully reflected in decisions and statements related to the development of government fiscal and energy policies. The industry wishes to maintain an ongoing dialogue with government in the following matters: substitution of non-renewable by renewable energy; assurance that electricity sales will not be taxed; maintenance of an open market for uranium with the U.S.A.; continued support in research and development; approval of the Point Lepreau proposal and federal government support for sale of a reactor to Turkey

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

    Energy Technology Data Exchange (ETDEWEB)

    Limaye, D.R.; Zhu, X.

    2012-08-15

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

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

    Directory of Open Access Journals (Sweden)

    Rodica Gabriela Blidisel

    2010-01-01

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

  19. Which type of government revenue leads government expenditure?

    OpenAIRE

    Abdi, Zeinab; Masih, Mansur

    2014-01-01

    This Malaysia is a developing Islamic state that faced government budget deficit since 1998. It is undeniable that a budget deficit or inability to cover government spending is not positively seen by external parties. The optimum level of government budget is the state where government spending is totally offset by government revenue and that can be achieved through an increase in tax revenue or decrease in spending. The paper aims to discover the existence of a theoretical relationship betwe...

  20. Legal aspects of financing Canadian offshore oil and gas developments

    International Nuclear Information System (INIS)

    Green, J.M.; Hudec, A.J.

    1992-01-01

    A review is presented of the significant legal considerations involved in structuring, negotiating, and documenting commercial financing of a Canadian offshore oil and gas production facility. Emphasis is placed on the Hibernia Project in the Newfoundland offshore as an example, and more specifically the $450 million bank financing completed in November 1991. The legal framework governing offshore production financing in this case was complex, due to the project's location in international waters on the continental shelf. Complex intergovernmental arrangements have been implemented between Canada and Newfoundland to govern the offshore area and regulate the project. An agreement called the Atlantic Accord allowed the Canada Newfoundland Offshore Petroleum Board (CNOPB) to grant production licenses and to regulate offshore exploration and development, with matters relating to legislation, taxation, and royalties shared between the governments. Certain other acts were enacted or extended for application to the offshore area. The CNOPB administers a registry system for transfers and security interests in offshore licenses. Security interests including property are ensured by the Hibernia Act, which makes Newfoundland's existing security interest regime applicable to the offshore. The project owners are operating Hibernia as a joint venture, and the structure of project financing and inter-creditor arrangements is examined. The competing security interest of project lenders and non-defaulting participants is discussed, along with assignment of priorities on the security in case of default

  1. Financing off-grid sustainable energy access for the poor

    International Nuclear Information System (INIS)

    Glemarec, Yannick

    2012-01-01

    This paper examines the role of public instruments in promoting private finance to achieve off-grid sustainable energy access. Renewable energy technologies are increasingly becoming the cheapest solutions for off-grid energy access. The dramatic uptake of mobile phones in developing countries shows how quickly decentralized services can develop on a commercial basis under the right conditions, and raises the prospect that private finance could also drive decentralized energy access for the poor. Indeed, there are already a number of instances of clean energy solutions – such as solar portable lights, household biogas units or solar home systems – that have managed to scale-up through leveraging private finance. However, the experience gained from first-generation market development projects show that, in almost all cases, significant public resources have been necessary to increase the affordability of clean energy technologies, provide access to financing for the poor, and remove non-economic barriers. Such public interventions may be funded by international public finance, domestic budgets and carbon finance. Despite mounting fiscal constraints facing governments worldwide, the emergence of new sources of climate finance and the political momentum in support of energy subsidy reforms, as well as new programming modalities, offer opportunities to leverage additional resources to achieve universal energy access by 2030. - Highlights: ► Renewable energy is increasingly the cheapest solution for off-grid energy access. ► Universal access to energy now depends less on technology and more business models. ► Substantial public finance will still be required to support universal energy access.

  2. Towards convergence and cooperation in the global development finance regime

    DEFF Research Database (Denmark)

    Kragelund, Peter

    2015-01-01

    and economic development. This article critically reviews the most recent developments in Chinese and Organisation for Economic Cooperation and Development (OECD) approaches to development finance to Africa. It argues that although we can detect a number of incidents that point towards more policy space...... for African governments, the revival of China's development finance does not fundamentally alter the power relations between African countries and their financiers, as the tendency now is towards convergence and cooperation between China and Development Assistance Committee (DAC) donors—not divergence...

  3. Change in the financing scheme for radioactive waste in Germany

    International Nuclear Information System (INIS)

    Svobodová, Tereza

    2018-01-01

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

  4. Electronic Government

    DEFF Research Database (Denmark)

    Wimmer, Maria A.; Traunmüller, Roland; Grönlund, Åke

    This book constitutes the refereed proceedings of the 4th International Conference on Electronic Government, EGOV 2005, held in Copenhagen, Denmark, in August 2005. The 30 revised papers presented were carefully reviewed and selected from numerous submissions, and assess the state-of-the-art in e-government/e-governance...

  5. Leadership, Governance

    Science.gov (United States)

    : Environmental Documents, Reports LANL Home Calendar Search Contacts About » Leadership, Governance Leadership national security and energy challenges. Leadership, Governance Ethics, Accountability Los Alamos National . Director's Office terry wallace in leadership, governance Director Terry C. Wallace, Jr. Terry C. Wallace, Jr

  6. Stakeholder Governance

    DEFF Research Database (Denmark)

    Flak, Leif Skiftenes; Rose, Jeremy

    2005-01-01

    to e-Government. Originally a management theory, stakeholder theory advocates addressing the concerns of all stakeholders in a firm, as opposed to concentration on the interests of senior managers and stockholders. Apart from the original profit focus, there is no serious conceptual mismatch between...... of governance. Finally, the paper makes recommendations for future work in adapting ST to the e-government context....

  7. Fiscal decentralisation and the size of government: a review of the empirical literature

    Directory of Open Access Journals (Sweden)

    Silvia Golem

    2010-03-01

    Full Text Available Within the public choice framework, it has been argued that decentralised authority over the provision and financing of certain public goods and services induces competitive pressure among different governmental units and consequently reduces the size of government. However, in many countries, fiscal decentralisation seems to have occurred almost exclusively through devolution of expenditure activities, without the accompanying devolution of the tax authority. We address this issue in detail, and discuss the epercussions of the resulting vertical fiscal imbalance on the total size of government. We also discuss alternative, demand-side channels of the influence of fiscal decentralisation on the size of government. In the empirical literature that we review, little consensus on the relationship between fiscal decentralisation and the size of government is reached.

  8. Sharing of risks in Islamic finance

    OpenAIRE

    Sekreter, Ahmet

    2011-01-01

    For most of the people the prohibition on interest is the well known part of Islamic finance. Indeed, the concept of Islamic finance was not being discussed enough till financial crisis, after crisis it started to be seen as an alternative financial system for conventional finance. Sharing the risks is the main concept of Islamic finance and one of the main differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however Islamic fina...

  9. Financing long term liabilities

    International Nuclear Information System (INIS)

    Noviello, Luigi

    2003-01-01

    In the '80 even if there were no precise law disposition in this specific matter, Enel has created a fund for the plants decommissioning and a fund for the irradiated fuel management. A setting aside pluri-annual plan has been defined. Cumulated funds transferred to the Sogin at the date of its constitution amount to about 1500 MLD ITL (750 M Euro). This amount was adequate to complete decommissioning activities within the Safe Store strategy. Following the separation of Sogin from Enel, a funding mechanism has been defined to provide resources for additional costs deriving from the different economic conditions (new discount rate and taxes), from the management costs for the new company, and from the change in strategy (from Safe Store to DECON). A Decree of the Ministry of the Industry, issued on 26 January 2000, states that the above mentioned extra costs for Sogin shall be financed on a levy on the price of the sold kWh. Every year Sogin shall present the program of future activities, with associated costs: on this basis, the national Authority for Electric energy and Gas (the national body which defines tariff policy) shall re-evaluate the global amount to be granted to Sogin and the levy on the price of the kWh due to Sogin for next three years. The re-evaluation will take into account economic efficiency criteria. For the period 2002- 2004 the Authority has defined a global amount of about 362 M euros to be granted to Sogin, corresponding to ∼0,04 cents of Euro per kWh. The same procedure is foreseen by the Decree in order to finance Sogin for additional costs related to the dismantling of nuclear installations now property of ENEA. In this context, a Consortium between ENEA and Sogin has been established. The Authority for the period 2002-2004 has defined a global amount of about 106 M euros to be granted to the Consortium, corresponding to ∼0,015 cents of Euro per kWh. (author)

  10. Disease-specific out-of-pocket and catastrophic health expenditure on hospitalization in India: Do Indian households face distress health financing?

    Science.gov (United States)

    Kastor, Anshul; Mohanty, Sanjay K

    2018-01-01

    Rising non-communicable diseases (NCDs) coupled with increasing injuries have resulted in a significant increase in health spending in India. While out-of-pocket expenditure remains the major source of health care financing in India (two-thirds of the total health spending), the financial burden varies enormously across diseases and by the economic well-being of the households. Though prior studies have examined the variation in disease pattern, little is known about the financial risk to the families by type of diseases in India. In this context, the present study examines disease-specific out-of-pocket expenditure (OOPE), catastrophic health expenditure (CHE) and distress health financing. Unit data from the 71st round of the National Sample Survey Organization (2014) was used for this study. OOPE is defined as health spending on hospitalization net of reimbursement, and CHE is defined as household health spending exceeding 10% of household consumption expenditure. Distress health financing is defined as a situation when a household has to borrow money or sell their property/assets or when it gets contributions from friends/relatives to meet its health care expenses. OOPE was estimated for 16 selected diseases and across three broad categories- communicable diseases, NCDs and injuries. Multivariate logistic regression was used to understand the determinants of distress financing and CHE. Mean OOPE on hospitalization was INR 19,210 and was the highest for cancer (INR 57,232) followed by heart diseases (INR 40,947). About 28% of the households incurred CHE and faced distress financing. Among all the diseases, cancer caused the highest CHE (79%) and distress financing (43%). More than one-third of the inpatients reported distressed financing for heart diseases, neurological disorders, genito urinary problems, musculoskeletal diseases, gastro-intestinal problems and injuries. The likelihood of incurring distress financing was 3.2 times higher for those hospitalized

  11. Dental school finances: current status.

    Science.gov (United States)

    Crawford, W H

    1986-05-01

    Total expenditures and revenues of 58 US dental school were derived from reports of the ADA Division of Educational Measurements. These financial data were studied by type of dental school (public, state-related private, and private) and by expenditure/revenue categories. Dental schools showed little diversity in expenditures: most were directed toward instruction; few were directed toward research or continuing education. Several distinctive patterns among the three types of dental schools in revenues were observed. Two configurations emerged: public and state-related private dental schools receive more than 75% of their revenues from government and tuition, and private dental schools, more than 50%.

  12. Program governance

    CERN Document Server

    Khan, Muhammad Ehsan

    2014-01-01

    FOUNDATION OF GOVERNANCEGovernanceDefining GovernanceGovernance at Multiple LevelsSummaryReferencesTransaction Cost EconomicsTransactions-Core Elements and Attributes     Behavioral Assumptions     Governance Structure AttributesHazards of Concern     Incomplete Contracting     Bilateral Dependency and Fundamental Transformation     Adaptation or MaladaptationLinking Governance, Governance Structures, and ContractsThe Impact of Asset Specificity and Behavioral Assumptions on ContractsAp

  13. Plural Governance

    DEFF Research Database (Denmark)

    Mols, Niels Peter; Menard, Claude

    2014-01-01

    Plural governance is a form of governance where a firm both makes and buys similar goods or services. Despite a widespread use of plural governance there are no transaction cost models of how plural governance affects performance. This paper reviews the literature about plural forms and proposes...... a model relating transaction cost and resource-based variables to the cost of the plural form. The model is then used to analyze when the plural form is efficient compared to alternative governance structures. We also use the model to discuss the strength of three plural form synergies....

  14. Computing for Finance

    CERN Multimedia

    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...

  15. Healthcare financing in Croatia

    Directory of Open Access Journals (Sweden)

    Nevenka Kovač

    2013-12-01

    Full Text Available Healthcare financing system is of crucial importance for the functioning of any healthcare system, especially because there is no country in the world that is able to provide all its residents with access to all the benefits afforded by modern medicine. Lack of resources in general and rising healthcare expenditures are considered a difficult issue to solve in Croatia as well. Since Croatia gained its independence, its healthcare system has undergone a number of reforms, the primary objective of which was to optimize healthcare services to the actual monetary capacity of the Croatian economy. The objectives of the mentioned re - forms were partially achieved. The solutions that have been offered until now, i.e. consolidation measures undertaken in the last 10 years were necessary; however, they have not improved the operating conditions. There is still the issue of the deficit from the previous years, i.e. outstanding payments, the largest in the last decade. Analysis of the performance of healthcare institutions in 2011 shows that the decision makers will have to take up a major challenge of finding a solution to the difficulties the Croatian healthcare system has been struggling with for decades, causing a debt of 7 billion kuna. At the same time, they will need to uphold the basic principles of the Healthcare Act, i.e. to provide access to healthcare and ensure its continuity, comprehensiveness and solidarity, keeping in mind that the National Budget Act and Fiscal Responsibility Act have been adopted.

  16. 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.

  17. Financing Maternal Health and Family Planning: Are We on the Right Track? Evidence from the Reproductive Health Subaccounts in Mexico, 2003-2012.

    Directory of Open Access Journals (Sweden)

    Leticia Avila-Burgos

    Full Text Available To analyze whether the changes observed in the level and distribution of resources for maternal health and family planning (MHFP programs from 2003 to 2012 were consistent with the financial goals of the related policies.A longitudinal descriptive analysis of the Mexican Reproductive Health Subaccounts 2003-2012 was performed by financing scheme and health function. Financing schemes included social security, government schemes, household out-of-pocket (OOP payments, and private insurance plans. Functions were preventive care, including family planning, antenatal and puerperium health services, normal and cesarean deliveries, and treatment of complications. Changes in the financial imbalance indicators covered by MHFP policy were tracked: (a public and OOP expenditures as percentages of total MHFP spending; (b public expenditure per woman of reproductive age (WoRA, 15-49 years by financing scheme; (c public expenditure on treating complications as a percentage of preventive care; and (d public expenditure on WoRA at state level. Statistical analyses of trends and distributions were performed.Public expenditure on government schemes grew by approximately 300%, and the financial imbalance between populations covered by social security and government schemes decreased. The financial burden on households declined, particularly among households without social security. Expenditure on preventive care grew by 16%, narrowing the financing gap between treatment of complications and preventive care. Finally, public expenditure per WoRA for government schemes nearly doubled at the state level, although considerable disparities persist.Changes in the level and distribution of MHFP funding from 2003 to 2012 were consistent with the relevant policy goals. However, improving efficiency requires further analysis to ascertain the impact of investments on health outcomes. This, in turn, will require better financial data systems as a precondition for improving

  18. Financing Maternal Health and Family Planning: Are We on the Right Track? Evidence from the Reproductive Health Subaccounts in Mexico, 2003-2012.

    Science.gov (United States)

    Avila-Burgos, Leticia; Cahuana-Hurtado, Lucero; Montañez-Hernandez, Julio; Servan-Mori, Edson; Aracena-Genao, Belkis; Del Río-Zolezzi, Aurora

    2016-01-01

    To analyze whether the changes observed in the level and distribution of resources for maternal health and family planning (MHFP) programs from 2003 to 2012 were consistent with the financial goals of the related policies. A longitudinal descriptive analysis of the Mexican Reproductive Health Subaccounts 2003-2012 was performed by financing scheme and health function. Financing schemes included social security, government schemes, household out-of-pocket (OOP) payments, and private insurance plans. Functions were preventive care, including family planning, antenatal and puerperium health services, normal and cesarean deliveries, and treatment of complications. Changes in the financial imbalance indicators covered by MHFP policy were tracked: (a) public and OOP expenditures as percentages of total MHFP spending; (b) public expenditure per woman of reproductive age (WoRA, 15-49 years) by financing scheme; (c) public expenditure on treating complications as a percentage of preventive care; and (d) public expenditure on WoRA at state level. Statistical analyses of trends and distributions were performed. Public expenditure on government schemes grew by approximately 300%, and the financial imbalance between populations covered by social security and government schemes decreased. The financial burden on households declined, particularly among households without social security. Expenditure on preventive care grew by 16%, narrowing the financing gap between treatment of complications and preventive care. Finally, public expenditure per WoRA for government schemes nearly doubled at the state level, although considerable disparities persist. Changes in the level and distribution of MHFP funding from 2003 to 2012 were consistent with the relevant policy goals. However, improving efficiency requires further analysis to ascertain the impact of investments on health outcomes. This, in turn, will require better financial data systems as a precondition for improving the

  19. Local Government Units in Indonesia: Demographic Attributes and Differences in Financial Condition

    Directory of Open Access Journals (Sweden)

    Rusmin Rusmin

    2014-06-01

    Full Text Available This study examines the outcome of decentralisation reforms in Indonesia, focusing on the association between demographic characteristics and differences in the financial condition of local governments units. It investigates cross-sectional data pertaining to demographic characteristics and financial statements audited by the Supreme Audit Body of 419 Indonesian local government units for the fiscal year 2007. It utilises demographic attributes including scope of entity, location, tenure (date of entry, gender, human development index (HDI and size of local governments to explain differences in the financial condition of Indonesia’s local government. Local government financial condition is proxied by quick ratio, debt ratio, services ratio, and ratio of local to total revenues. The results suggest that scope and location of local government units help explain all of the financial condition variables. The findings further infer that local government units domiciled in Java tend to report better financial conditions relative to those domiciled in other islands. Our results also show that local government units with greater female populations and higher HDI are more likely to have a local authority that (1 has better ability to finance their general services from their unrestricted net assets, and (2 has greater ability to earn more revenues from local sources. Finally, this study documents that the larger the population of a local government unit, the higher its liquidity position, the stronger its ability to funding general services, and the greater its possibility earning revenues from its local sources.

  20. Shared governance: one way to engage employed physicians.

    Science.gov (United States)

    Sanford, Kathleen D

    2012-09-01

    To work better with employed physicians, finance leaders should: Understand classic management theories on what motivates employees. Learn from shared governance models with nurses at Magnet hospitals. Apply best practices in management to all employees, not just physicians.

  1. Government Expenditure, Efficiency and Economic Growth: A Panel ...

    African Journals Online (AJOL)

    Choong Chee Keong. 6 and Lau Lin Sea. 7 ... Corresponding Author, Department of Economics, Faculty of Business and Finance, UTAR, Malaysia. .... the taxation system and assert that if country's government expenditure is greater than.

  2. Corporate Governance: A Keynote Speech

    DEFF Research Database (Denmark)

    Balling, Morten

    1998-01-01

    In the article, the author gives an overview of the many different aspects of corporate governance to discuss at a conference in Budapest in May 1997 arranged by Société Universitaire Européenne de Recherches Financières (SUERF). Among the subjects dealt with are the relationsship between...... cases of privatization in Western Europe. Almost everywhere, the role of institutional shareholders is increasing. The internationalization proces implies that also the role of the governance systems changes the incentives for corporate managers to demonstrate good financial performance, and there seems...

  3. Corruption, Growth, and Public Finances

    OpenAIRE

    Vito Tanzi; Hamid R Davoodi

    2000-01-01

    The paper discusses some channels through which corruption affects growth such as the impact of corruption on enterprises, on the allocation of talent, and on investment. It also discusses the impact of corruption on some aspects of public finance.

  4. The financing of nuclear industry

    International Nuclear Information System (INIS)

    Cazauran, B.

    1978-01-01

    Having first recalled the usual financing rules related to the economic activities, the author analyses the applying of those rules in the nuclear field, taking into account the specific characteristics of this industrial branch [fr

  5. Participatory financing for green growth

    International Nuclear Information System (INIS)

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

    2017-01-01

    As for the French Ministry of the Environment, participatory financing can be an innovating and mobilising tool to finance projects related to the energy and ecological transition, and as such a financing is promoted by the law on energy transition for a green growth, this publication presents this type of financing. It evokes its legal framework, its different forms (loan to companies, loan to individuals, gift, capital investment), its safe legal framework (definition of different types of status). It outlines how it can be a lever for energy and ecological transition even if green projects are difficult to quantify. It evokes the future introduction of a label, and the introduction of legal and regulatory measures to develop the renewable energy sector

  6. Health, autonomic financing and transferences

    Directory of Open Access Journals (Sweden)

    David Cantarero Prieto

    2002-01-01

    Full Text Available The present paper has as objective to study the whole relative problem to the autonomous communities and regional heath care expenditure financing in Spain. This article has a dual purpose. First, the financing of the current health care attendance is approached in the Spanish regions passing magazine to its possible variants and we observe that the balance of our system is clearly inclined towards the side of the integration in the general pattern of financing («Fiscal Room» with specific conditions («Mixed System». Secondly, we examine the new situation in the mark of health care and its corresponding financing in the new model approved in 2001, in terms of the effects of tax assignment on autonomous communities.

  7. Innovative Financing for Green Infrastructure

    Science.gov (United States)

    provides an overview of financing strategies and highlights a community that leveraged Clean Water State Revolving Fund (CWSRF) resources for a flood mitigation project that provided multiple economic, environmental, and social benefits.

  8. African Journals Online: Finance & Management

    African Journals Online (AJOL)

    Items 1 - 16 of 16 ... The African Journal of Finance and Management is designed to carry articles, ... Operations, Human Resource, Organisational Behaviour, Marketing Services, ... AJMR aims to serve management and business academics.

  9. Innovative finance : strategic research project.

    Science.gov (United States)

    2013-08-01

    Its time to rethink how we fund transportation infrastructure because most transportation : experts agree: theres a transportation funding and financing crisis looming. : Projected revenues from current sources of transportation funding will am...

  10. Financing the nuclear fuel cycle

    International Nuclear Information System (INIS)

    Stephany, M.

    1975-01-01

    While conventional power stations usually have fossil fuel reserves for only a few weeks, nuclear power stations, because of the relatively long time required for uranium processing from ore extraction to the delivery of the fuel elements and their prolonged in-pile time, require fuel reserves for a period of several years. Although the specific fuel costs of nuclear power stations are much lower than those of conventional power stations, this results in consistently higher financial requirements. But the problems involved in financing the nuclear fuel do not only include the aspect of financing the requirements of reactor operators, but also of financing the facilities of the nuclear fuel cycle. As far as the fuel supply is concerned, the true financial requirements greatly exceed the mere purchasing costs because the costs of financing are rather high as a consequence of the long lead times. (orig./UA) [de

  11. Saudi Arabia: Terrorist Financing Issues

    National Research Council Canada - National Science Library

    Blanchard, Christoper M; Prados, Alfred B

    2007-01-01

    According to the U.S. State Department 2007 International Narcotics Control Strategy Report, Saudi donors and unregulated charities have been a major source of financing to extremist and terrorist groups over the past 25 years...

  12. Science Shaping Sustainable Finance

    Science.gov (United States)

    Rodriguez Osuna, V.; Vorosmarty, C. J.; Koehler, D.; Klop, P.; Spengler, J.; Buonocore, J.; Cak, A. D.; Tessler, Z. D.; Corsi, F.; Green, P. A.; Sánchez, R.

    2017-12-01

    Sustainable investment is confronting a period of rapid growth and fundamental change. However, the methods used to evaluate corporate sustainability are failing to keep pace with this new reality. In contrast to the 1990s when corporate data on pollution or occupational health were not available in the public domain, today's investors can take advantage of rich data streams, owing to voluntary corporate disclosures of their business practices. Yet, the data companies declare are hardly standardized, difficult to verify, and thus run the risk of creating unreliable assertions, a form of "green-washing". A partnership comprising a pension fund, an asset manager and two research universities has created a science-based approach to quantify context and place it into a decision-making framework for investors. We have tested this framework on US$2.5 billion of assets held by a large European pension fund with an initial focus on four domains—water, climate change, human health and food security. Our standardized metrics enable coherent comparison of individual company and portfolios over time. To place a company's impact on water systems or climate change into context requires geographically co-locating company operations, combining these with estimates of industrial emissions or mitigation potential, baseline Earth system science data and geopolitical and demographic statistics. Recent developments regarding the Paris Accord are a warning that progress toward a sustainable future requires rethinking the roles that the public and private sectors can play in effecting meaningful change. The finance sector, if given the proper guideposts, could rapidly transform fraught public policy challenges like climate adaptation or the global loss of biodiversity into business opportunities. By utilizing a science-based yardstick to evaluate and compare companies on the basis of their impacts, attention could be drawn to companies that are verifiably contributing to sustainability.

  13. Issues in energy finance

    Science.gov (United States)

    Khokher, Zeigham Islam

    As opposed to the well developed and understood equity markets, the energy markets are still in their infancy. The explosion of contracts, of both the primary and derivative types, are testament both to the existing size and the untapped growth potential of this exciting industry. However, because of its relative youth many basic issues in the energy markets remain unresolved. This thesis introduces some interesting questions and provides insights into these issues. Thematically, the chapters of this thesis are linked by an emphasis on valuation and risk management decisions. A contribution of this thesis is to show that subtle differences between the endogenous price process in our general equilibrium setting and the exogenous processes considered in earlier papers can generate significant differences in both financial and real option values. In addition to these valuation concerns there has been much debate about the corporate risk management function. Finance theory suggests that a value maximizing corporation should either be indifferent to hedging or, in the presence of certain imperfections, it should completely hedge all exposures. Both these extremes contradict empirical evidence. We show that existing corporate hedging behaviour is best explained in light of both physical market imperfections and directional predictions on future prices. While these speculative motives may arise from corporate hubris or genuine informational advantages, we argue that it would be difficult to implement private information in the absence of noise traders. Related to the risk management decision is the existence of futures risk premia. These premia have been thought to be cause by covariance with priced factors or due to the hedging demands of consumers and producers. This thesis argues that inventories serve as a signal of available quantity, which coupled with consumers fears regarding stockouts can induce a positive relationship between premia and inventories. In

  14. Property Rights, Finance, and Entrepreneurship

    OpenAIRE

    Simon Johnson; John McMillan; Christopher Woodruff

    1999-01-01

    Is investment constrained more by insecure property rights or by limited external finance? For five transition economies in Eastern Europe and the former Soviet Union we find that weak property rights limit the reinvestment of profits in startup ma nufacturing firms. Access to credit does not appear to explain differences in investment. At least in the early stages of post-communist reform, retained earnings appear to have been enough to finance the investments that managers wanted to make.

  15. Project finance for alternative energy

    International Nuclear Information System (INIS)

    Mills, S.J.

    1993-01-01

    This paper is intended to provide general advice to sponsors of renewable energy projects who expect to raise project-based financing from commercial banks to fund the development of their projects. It will set out, for the benefit of such sponsors, how bankers typically approach the analysis of these undertakings and in particular the risk areas on which they concentrate. By doing so it should assist sponsors to maximise their prospects of raising bank finance. (author)

  16. Wind power: valuation and finance

    International Nuclear Information System (INIS)

    Aastrand, C.; Mose, O.; Sorensen, B.

    1996-01-01

    The past 20 years of wind energy experience in Denmark has primarily been based upon three financing schemes, tailored to individually owned, guild owned and utility owned wind turbines. The merits of and problems with these schemes are discussed, as well as their relations to specific legislation regarding e.g. taxation. It is finally explored, whether new forms of organisation, valuation and financing may be needed. (author)

  17. Long Term Financing of Infrastructure

    OpenAIRE

    Sinha, Sidharth

    2014-01-01

    Infrastructure projects, given their long life, require long term financing. The main sources of long term financings are insurance and pension funds who seek long term investments with low credit risk. However, in India household financial savings are mainly invested in bank deposits. Insurance and pension funds account for only a small percentage of household financial savings. In addition most infrastructure projects do not qualify for investment by insurance and pension funds because of t...

  18. The financing of innovative firms

    OpenAIRE

    Hall, Bronwyn H.

    2009-01-01

    To what extent are new and/or innovative firms fundamentally different from established firms, and therefore require a different form of financing? The theoretical background for this proposition is presented, and the empirical evidence on its importance is reviewed. Owing to the intangible nature of their investment, asymmetric-information and moral-hazard, these firms are more likely to be financed by equity than debt and behave in some cases as though they are cash-constrained, especially ...

  19. Marlim project finance; 'Project finance' de Marlim

    Energy Technology Data Exchange (ETDEWEB)

    D' Almeida, Albino Lopes [PETROBRAS, Rio de Janeiro, RJ (Brazil)

    2004-07-01

    Project Finance is often used worldwide to raise the funds to develop big projects, particularly in the area of power and infra-structure. It is designed to support a singular project and a specific purpose company is created to obtain the financing. The debt payment is secured by the enterprise's cash flow, avoiding real guarantee requirements. The lenders receive the future revenues and the property of the assets to be built. The risks are mitigated by agreements exhaustively negotiated among the parties. One of the most important Project Finances performed in Brazil is the Marlim Project, structured in order to complete the development of the Marlim oil field. This is the biggest Brazilian oil field, producing more than 500,000 barrels a day, almost 35% of the national production. This paper presents the general concepts related to this type of financing and general information about the project, including its structuring, negotiation and closing. The total commitment reaches US$ 1.5 billion obtained in both domestic and international markets through equity, bridge loan, bonds and commercial papers. Its whole life is 10 years, using 2 special purpose companies in its configuration. (author)

  20. Health financing and integration of urban and rural residents' basic medical insurance systems in China.

    Science.gov (United States)

    Zhu, Kun; Zhang, Luying; Yuan, Shasha; Zhang, Xiaojuan; Zhang, Zhiruo

    2017-11-07

    China is in the process of integrating the new cooperative medical scheme (NCMS) and the urban residents' basic medical insurance system (URBMI) into the urban and rural residents' basic medical insurance system (URRBMI). However, how to integrate the financing policies of NCMS and URBMI has not been described in detail. This paper attempts to illustrate the differences between the financing mechanisms of NCMS and URBMI, to analyze financing inequity between urban and rural residents and to identify financing mechanisms for integrating urban and rural residents' medical insurance systems. Financing data for NCMS and URBMI (from 2008 to 2015) was collected from the China health statistics yearbook, the China health and family planning statistics yearbook, the National Handbook of NCMS Information, the China human resources and social security statistics yearbook, and the China social security yearbook. "Ability to pay" was introduced to measure inequity in health financing. Individual contributions to NCMS and URBMI as a function of per capita disposable income was used to analyze equity in health financing between rural and urban residents. URBMI had a financing mechanism that was similar to that used by NCMS in that public finance accounted for more than three quarters of the pooling funds. The scale of financing for NCMS was less than 5% of the per capita net income of rural residents and less than 2% of the per capita disposable income of urban residents for URBMI. Individual contributions to the NCMS and URBMI funds were less than 1% of their disposable and net incomes. Inequity in health financing between urban and rural residents in China was not improved as expected with the introduction of NCMS and URBMI. The role of the central government and local governments in financing NCMS and URBMI was oscillating in the past decade. The scale of financing for URRBMI is insufficient for the increasing demands for medical services from the insured. The pooling fund

  1. Corporate governance cycles during transition

    DEFF Research Database (Denmark)

    Mygind, Niels; Demina, Natalia; Gregoric, Aleksandra

    2004-01-01

    -ing or exit stage. During transition the cycle reflects: privatization often with a high proportion of employee ownership like in Russia and in Slovenia; strong pressures for restructuring and owner-ship changes; limited possibility for external finance because of embryonic development of the fi......-nancial system. To provide simple hypothesis tests, we use Russian enterprise data for 1995-2003 and Slovenian data covering 1998-2003. In spite of differences in institutional development, con-cerning privatization and development of corporate governance institutions, we find that govern-ance cycles are broadly...... of ownership on managers, external domestic and foreign owners. JEL-codes: G3, J5, P2, P3 - Keywords: corporate governance, life-cycle, privatization, ownership change, transition economies, Russia and Slovenia....

  2. Financing of Political Parties and Electoral Campaigns in Republic of Macedonia

    Directory of Open Access Journals (Sweden)

    Farije ALIU

    2016-07-01

    Full Text Available Political party in the Republic of Macedonia began to operate after independence and the adoption of the Constitution in November 1991 and has since become an integral part of the political scene and the data from the Central Registry of the Republic of Macedonia registered political parties more than 50 political parties active in the current system. The electoral system in the country is set according to the proportional model where direct and free elections by secret ballot to elect members of Parliament and members of the municipal councils and the City of Skopje for four years, while according to the majority model is the selection of the President of the Republic for a term of five years and the election of mayors of municipalities and the City of Skopje for four years. The legal framework for the financing of political parties in the country is well developed. The main law governing the financing of political parties and their supervision law on financing of political parties and the amendments to the same law. The provisions contained in the law is comprehensive, addressing the financing of the regular activities of political parties and their supervision and demonstrate ensuring transparency and accountability in political financing and a ban on anonymous donations and donations from abroad and determine the rules for cap on private donations and prohibiting quid pro quo agreements. Some provisions relating to the financing of political parties included in the Law on Political Parties and certain provisions governing the various supervisory authorities, in particular the Law on Prevention of Corruption and the Law on State Audit footnote. The basic law that regulates elections is the Electoral Code. Under the provisions of the Electoral Code the political parties and election campaign organizers are required to submit financial reports to the authorities to ensure respect for the principles of transparency and accountability and are

  3. Financing responsibility for nuclear waste disposal

    International Nuclear Information System (INIS)

    2004-01-01

    - which in principle is likely to be the leading company in the group - will also assume liability through a payment guarantee. The extended requirement to pay fees for the period until the final disposal sites are sealed and the secondary liability for payment are central components of the proposed new design of the financing system. In other cases where the State assumes risks, risk assessments are made. This applies, for example, when the State provides guarantees in the area of export credits. In the view of the Inquiry, however, the State has not followed an appropriate course of action in managing the financial risk involved in this case. Use must be made of descriptions of risks in other projects and experience of managing financial risks of other projects. The Inquiry considers that a different system and different management is required in order to put the liability of the nuclear industry for costs into place - and so limit the financial risk borne by the State. The Inquiry considers it essential that the use of funds is followed up and audited so as to maintain confidence in the financing system. The Inquiry considers that a three-year fee period should create scope for auditing and control and proposes that the safety authority be instructed in an ordinance to draw up rules aimed at facilitating follow-up by requiring time limits, comparability, etc. It is proposed that auditing be made part of a new financially oriented line of activity at the authority. It is proposed further that the safety authority be instructed to deliver an account to the Government every three years regarding its assessment of the most important risk factors in the withdrawals process. The Inquiry proposes that the National Debt Office be instructed to review the issue of a fee for the State's financial risk three years after a new financing system has entered into force

  4. Aspects of Development Financing After the Financial and Economic Crisis

    Directory of Open Access Journals (Sweden)

    Bruno Gurtner

    2011-05-01

    Full Text Available Published by Palgrave MacmillanThe financial and economic crisis saw developing and emerging countries experience more severe setbacks in their growth rates than industrialised countries and they did not all have sufficient funds to finance robust stimulus measures. The major emerging economies have nevertheless recovered quickly and are currently the most important growth engines in the world economy.Private capital flows collapsed, leaving the global South with an overall deficit in financing. Greater official financing flows have not yet been able to compensate for the shortfalls and the slow increase in private capital flows since the end of 2009 has not been able to do so either. Overall, according to the UN, more capital flows from the South to the North than vice versa. The South thus continues to finance the North.Discussions regarding a reform of the global financial and economic order are ongoing but to date have had little impact on developing countries. The international financing institutions do have more funds at their disposal, but developing countries are still under-represented. The IMF and the World Bank have begun to question some of their previous dogmas. Opinions are divided on whether one can already speak of a new policy.The debate on the role of taxation in the mobilisation of local resources for development financing has intensified. Insight favouring comprehensive reforms of the taxation systems in developing countries has sharpened, but technical aid provided by industrialised countries to realise these reforms is still insufficient. Taxation is acquiring growing recognition as an instrument of State-building, democratisation and governance. The campaign to deal with international tax evasion and illicit capital flows is gaining momentum and the exchange of information on tax issues has improved. However, it is difficult to establish newer and more trenchant instruments for improved transparency, given the predominant

  5. SABER-School Finance : Data Collection Instrument

    OpenAIRE

    World Bank

    2015-01-01

    The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing service delivery; (iv) budgeting with adequate an...

  6. 48 CFR 32.109 - Termination financing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Termination financing. 32... CONTRACTING REQUIREMENTS CONTRACT FINANCING Non-Commercial Item Purchase Financing 32.109 Termination financing. To encourage contractors to invest their own funds in performance despite the susceptibility of...

  7. 24 CFR 882.405 - Financing.

    Science.gov (United States)

    2010-04-01

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

  8. 7 CFR 3560.71 - Construction financing.

    Science.gov (United States)

    2010-01-01

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

  9. 7 CFR 1735.75 - Interim financing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Interim financing. 1735.75 Section 1735.75... Involving Loan Funds § 1735.75 Interim financing. (a) A borrower may submit a written request for RUS approval of interim financing if it is necessary to close an acquisition before the loan to finance the...

  10. 24 CFR 883.307 - Financing.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financing. 883.307 Section 883.307... § 883.307 Financing. (a) Types of financing. A State Agency that used the Fast Track Procedures formerly in this part must provide permanent financing for any new construction or substantial rehabilitation...

  11. 13 CFR 120.476 - Prohibited financing.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Prohibited financing. 120.476... Business Lending Companies (sblc) § 120.476 Prohibited financing. An SBLC may not make a loan to a small business that has received financing (or a commitment for financing) from an SBIC that is an Associate of...

  12. 7 CFR 1735.17 - Facilities financed.

    Science.gov (United States)

    2010-01-01

    ... Basic Policies § 1735.17 Facilities financed. (a) RUS makes hardship and guaranteed loans to finance the... section. (b) RUS makes concurrent RUS cost-of-money and RTB loans to finance the improvement, expansion... type of loan to finance the following items: (1) Station apparatus (including PBX and key systems) not...

  13. Third party financing of renewable energy sources

    International Nuclear Information System (INIS)

    1994-01-01

    The Institut of Energy Saving and Diversification (IDAE) hosted the third party on financing Renewable Energy Sources in Spain. The main aspects were : 1) Experiences in renewable energy. 2) Financing of small hydro-power projects. 3) Third party financing of biomass projects. 4) Financing of wind energy projects

  14. Analysis of Project Finance | Energy Analysis | NREL

    Science.gov (United States)

    Analysis of Project Finance Analysis of Project Finance NREL analysis helps potential renewable energy developers and investors gain insights into the complex world of project finance. Renewable energy project finance is complex, requiring knowledge of federal tax credits, state-level incentives, renewable

  15. Third party financing of renewable energy sources

    International Nuclear Information System (INIS)

    IDAE.

    1994-01-01

    IDAE (Institute of Energy Saving and Diversification) Hosted the Third party on financing renewable energy sources. The meeting was articulated into chapters: 1.- Experiences in the renewable energy field. 2.- Third party financing of small hydro-power projects. 3.- Third party financing of biomass projects. 4.- Third party financing of wind energy projects

  16. SABER-School Finance: Data Collection Instrument

    Science.gov (United States)

    King, Elizabeth; Patrinos, Harry; Rogers, Halsey

    2015-01-01

    The aim of the SABER-school finance initiative is to collect, analyze and disseminate comparable data about education finance systems across countries. SABER-school finance assesses education finance systems along six policy goals: (i) ensuring basic conditions for learning; (ii) monitoring learning conditions and outcomes; (iii) overseeing…

  17. ANALYSIS OF THE SELECTED SOURCES OF FUNDING THE LUBUSKI SYSTEM OF FINANCING ENVIRONMENTAL PROTECTION IN THE YEARS 2009-2013

    Directory of Open Access Journals (Sweden)

    Mateusz BUDYNEK

    2015-07-01

    Full Text Available The article analyses the effects of an internal financing institution, namely the Voivodeship Fund for Environmental Pro-tection and Water Management in Zielona Góra on stimulating pro-ecological activities in the production business sec-tor. The paper further analyses government forms of financing the Fund as well as the sources coming from particular economic financing instruments in the years 2009-2013.

  18. Path innovation of rural property mortgage financing in China

    Directory of Open Access Journals (Sweden)

    Wu Yongchao

    2016-01-01

    Full Text Available Rural property mortgage financing, as an important breakthrough to deepen the reform of rural property right system and financial system, is an important approach to increase the farmers’ property income. Besides, rural property mortgage financing is of great significance in implementing the rural land usufructuary right and meeting the demand of medium-and-long-term and large-scale operation of the funds used in agricultural production. Under the existing institutional arrangement, the property mortgage financing in the rural areas of our country still is faced with many obstacles, and it is still at the stage of low level development. In this paper, closely based on the acceptability and the difficulty in the mortgaged property involving in legal disposal, the author puts forward important methods: clearly define the ownership, unify the urban and rural markets, increase the participation enthusiasm of financing bodies, and improve the supporting policies to promote property mortgage financing in rural area. Finally, the government should give farmers more property rights and revitalize the usufructuary right of agricultural land and its derivative right.

  19. PFI redux? Assessing a new model for financing hospitals.

    Science.gov (United States)

    Hellowell, Mark

    2013-11-01

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

  20. PPP-PROJECTS INFRASTRUCTURE AND SPECIFICS OF THEIR FINANCING

    Directory of Open Access Journals (Sweden)

    Dzambolat Valerevich Mrikaev

    2014-07-01

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

  1. Promotion and financing of nuclear power programmes in developing countries

    International Nuclear Information System (INIS)

    Bennett, L.L.; Skjoeldebrand, R.

    1988-01-01

    Nuclear power has been introduced only to a small extent in a few developing countries. A group of senior experts conducted a study of the existing constraints on nuclear power in developing countries, the requirements to be met for successful introduction of a nuclear power programme, and mechanisms to assist developing countries in overcoming the identified constraints. Financing represents one (but not the only) major constraint to nuclear power development in developing countries. The present schemes of export credits and commercial financing are seen as not adequately meeting the needs of nuclear power financing in terms of repayment periods and profiles, or in terms of flexibility to meet delays and cost overruns. Innovative and workable arrangements to share the economic and financial risks would be helpful in obtaining financing for a nuclear power project. All possible efforts should be made by all parties involved in the development of nuclear power to reduce as far as possible the uncertainties surrounding the cost and schedule of a nuclear power project, as an essential step to improve the overall climate for financing the project. Government commitment, soundly based and thorough planning, development of qualified manpower and other key infrastructures, and good project management are important mechanisms to achieve greater predictability in project schedule and cost. Technical assistance provided by the IAEA can be very helpful in building these capabilities in developing countries. (author). 1 tab

  2. Financing the UK power sector: Is the money available?

    International Nuclear Information System (INIS)

    Blyth, William; McCarthy, Rory; Gross, Robert

    2015-01-01

    The UK power generation sector faces a major new round of investment: the coincidence of asset retiring and ambitious goals for decarbonisation is not unique, but is particularly acute in the UK. The UK government has put in place a raft of new policies that seek to promote new, low carbon investment and ensure security of supply. The traditional channel for financing the sector has been through large utility companies, but this now looks challenging for various reasons. The UK therefore offers an interesting case study on several counts; the scale of the challenge, effectiveness of new policies, and the availability of alternative finance. We find that the link between the finance sector and the electricity sector is not ‘broken’, but the flow of money to the sector is threatened by the current weakness of the utilities’ business model. This paper compares estimates of the scale of investment required in the UK with historical investment rates. It summarises contemporary finance industry views of conditions and trends, and potential policy interventions that might be needed to bridge the investment gap. The potential for channelling institutional investor funds directly into energy assets is reviewed. - Highlights: • Power investment need to scale up compared to historical trends, but is achievable. • Traditionally, low-cost finance has been through bonds and shares of large utilities. • Utilities are suffering high debt, reduced demand, and suppressed prices. • Policy interventions to scale-up investment are reviewed.

  3. More reliable financing of future nuclear waste costs

    International Nuclear Information System (INIS)

    1994-01-01

    A commission of inquiry was established by Government in 1993 to review the management of capital funds according to the existing Act of the Financing of Future Expenses for Spent Nuclear Fuel etc. The commission proposes that: The funds which have been paid to the Swedish state to finance the costs arising in connection with the handling and final disposal of spent nuclear fuel etc, from the year 1995, should be invested in accordance with guidelines which aim at attaining a higher return than is currently possible; That an independent government body, called the Nuclear Waste Fund, should be assigned the task of managing the funds, in accordance with these guidelines; That the Swedish Nuclear Power Inspectorate should continue to examine and evaluate issues relating to the application of the funds and recommend the level of the fee to be paid; and That a system including additional measures for guaranteeing the availability of funds should be implemented from the year 1995, in order to improve the reliability of the financing system. Our proposal involves extensive amendments to the Financing Act. On the other hand, the basic stipulations concerning responsibilities under the Act on Nuclear Activities, are not affected. (Seven work documents produced by consulting firms are published in a separate volume; SOU 1994:108) 5 figs., 16 tabs

  4. Federal finance: what can South Sudan and somalia learn from their ...

    African Journals Online (AJOL)

    The fiscal relationships between the federal and state governments are provided in the Constitution addressing the four major components of federal finance. The expenditure assignments among tiers of government appears to be in line with the general principles while taxing power is over concentrated in the hands of ...

  5. Finance and banking for wind energy

    Energy Technology Data Exchange (ETDEWEB)

    Rave, Klaus [Investitionsbank Schleswig-Holstein (Germany)

    1999-01-01

    Installed wind power capacity in Schleswig-Holstein has grown from 2 MW in 1988 to about 600 MW in 1997; about 10% of the total power demand. The target of 20 to 25% by 2010 should easily be exceeded. Cost per kW of installed capacity has fallen from DM 3,350 in 1990 to DM 1,700 in 1997. Estimates for the world market for wind power are given. Criteria for evaluating the financing of a build, operate, transfer wind energy project are set out. (uk)

  6. Finance and banking for wind energy

    Energy Technology Data Exchange (ETDEWEB)

    Rave, Klaus [Investitionsbank Schleswig-Holstein (Germany)

    1999-04-01

    Installed wind power capacity in Schleswig-Holstein has grown from 2 MW in 1988 to about 600 MW in 1997; about 10% of the total power demand. The target of 20 to 25% by 2010 should easily be exceeded. Cost per kW of installed capacity has fallen from DM 3,350 in 1990 to DM 1,700 in 1997. Estimates for the world market for wind power are given. Criteria for evaluating the financing of a build, operate, transfer wind energy project are set out. (uk)

  7. Regulatory Governance

    DEFF Research Database (Denmark)

    Kjær, Poul F.; Vetterlein, Antje

    2018-01-01

    Regulatory governance frameworks have become essential building blocks of world society. From supply chains to the regimes surrounding international organizations, extensive governance frameworks have emerged which structure and channel a variety of social exchanges, including economic, political...... by the International Transitional Administrations (ITAs) in Kosovo and Iraq as well as global supply chains and their impact on the garment industry in Bangladesh....

  8. Experimentalist governance

    NARCIS (Netherlands)

    Sabel, C.F.; Zeitlin, J.; Levi-Faur, D.

    2012-01-01

    A secular rise in volatility and uncertainty is overwhelming the capacities of conventional hierarchical governance and ‘command-and-control’ regulation in many settings. One significant response is the emergence of a novel, ‘experimentalist’ form of governance that establishes deliberately

  9. Remaking Governance.

    Science.gov (United States)

    Carver, John

    2000-01-01

    The Policy Governance model's philosophical foundations lie in Rousseau's social contract, Greenleaf's servant-leadership, and modern management theory. Policy Governance stresses primacy of the owner-representative role; full-board authority; superintendents as chief executive officers; authoritative prescription of "ends," bounded…

  10. Organization And Financing Models Of Health Service In Selected Countries

    Directory of Open Access Journals (Sweden)

    Branimir Marković

    2009-07-01

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

  11. Power project financing in the People's Republic of China

    International Nuclear Information System (INIS)

    Gomm, R.

    1998-01-01

    The current state of financing and security issues which in the past have constrained the amount of foreign investment and project financing in the electric power market in the Peoples Republic of China (PRC) are reviewed. Past impediments to foreign investment and financing of power projects revolved around the rate of return on investment, the difficulties of obtaining project approvals, conflict of interest issues wherein the Chinese power bureau could act in its interest as a contracted party rather than for the joint venture as an equity investor, and currency convertibility. Recent developments such as the new security law, the new electricity law, and new project financing regulations represent major improvements, but foreign investment and financing is still much less than originally anticipated, the potential of the PRC power market for foreign investments notwithstanding. (For example, in 1997, 13,500 MW of new generation capacity was added to the Chinese grid system. This increased the total installed capacity to 250,000 MW, making China the second largest installed capacity in the world.) Recent trends in the market and the likely future of foreign investment in the PRC are also discussed, the conclusion being that although the size of the IPP and project finance market in China is probably smaller than originally hoped, a sufficient proportion of new generation capacity has been allocated to foreign investors to ensure a steady stream of investment opportunities

  12. Optimal Policy under Restricted Government Spending

    DEFF Research Database (Denmark)

    Sørensen, Anders

    2006-01-01

    Welfare ranking of policy instruments is addressed in a two-sector Ramsey model with monopoly pricing in one sector as the only distortion. When government spending is restricted, i.e. when a government is unable or unwilling to finance the required costs for implementing the optimum policy...... effectiveness canexceed the welfare loss from introducing new distortions. Moreover, it is found that the investment subsidy is gradually phased out of the welfare maximizing policy, which may be a policy combining the two subsidies, when the level of government spending is increased.Keywords: welfare ranking......, indirect and direct policy instruments, restricted government spending JEL: E61, O21, O41...

  13. Financing Asset Sales and Business Cycles

    OpenAIRE

    Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia

    2013-01-01

    This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...

  14. Network models in economics and finance

    CERN Document Server

    Pardalos, Panos; Rassias, Themistocles

    2014-01-01

    Using network models to investigate the interconnectivity in modern economic systems allows researchers to better understand and explain some economic phenomena. This volume presents contributions by known experts and active researchers in economic and financial network modeling. Readers are provided with an understanding of the latest advances in network analysis as applied to economics, finance, corporate governance, and investments. Moreover, recent advances in market network analysis  that focus on influential techniques for market graph analysis are also examined. Young researchers will find this volume particularly useful in facilitating their introduction to this new and fascinating field. Professionals in economics, financial management, various technologies, and network analysis, will find the network models presented in this book beneficial in analyzing the interconnectivity in modern economic systems.

  15. Investment finance: off limits for women.

    Science.gov (United States)

    Chilangwa-n'gambi, C Y

    1993-10-01

    In Zambia, women's access to finance is limited because 1) women lack collateral, 2) administrative practices discriminate against women, 3) women lack knowledge and information, and 4) women fail to maintain required financial records because their incomes are so low. Women have invested in areas which would be categorized as "feminine," however, including garment-making and flower-growing. The UNIP Women's League, which was the government's official body charged with ensuring gender awareness in policy-making and planning failed to survive the transition to a multiparty democracy. Some churches and nongovernmental organizations have attempted to promote gender-aware projects to help women survive the current economic crisis, but these programs are few and far between and suffer from a lack of capital. Organizations must adopt a business-like approach to help women move from welfare to economic empowerment.

  16. The money game [Klohn Crippen project finance

    International Nuclear Information System (INIS)

    Power, W.; Shaw, J.

    1997-01-01

    Klohn Crippen Project Finance (KCPF) were formed in 1996 with the objective of providing development and financial advisory services mainly for hydropower and water related infrastructure projects in the light of the increasing trend by governments and utilities to privatise or offer concessions to private developers to build, own and operate such projects. The company becomes involved in the project at a very early stage and so can integrate the technical, commercial and financial aspects to ensure that the fundamental of its design concept, construction risk and methods, capital costs, contractual framework and sponsors are aligned to maximise its financial prospects. The development of the Asahan No. 1 180MW hydropower plant in the North Sumatra region of Indonesia is described as a clear illustration of the role that KCPF can play. (UK)

  17. Introduction of performance-based financing in burundi was associated with improvements in care and quality.

    Science.gov (United States)

    Bonfrer, Igna; Soeters, Robert; Van de Poel, Ellen; Basenya, Olivier; Longin, Gashubije; van de Looij, Frank; van Doorslaer, Eddy

    2014-12-01

    Several governments in low- and middle-income countries have adopted performance-based financing to increase health care use and improve the quality of health services. We evaluated the effects of performance-based financing in the central African nation of Burundi by exploiting the staggered rollout of this financing across provinces during 2006-10. We found that performance-based financing increased the share of women delivering their babies in an institution by 22 percentage points, which reflects a relative increase of 36 percent, and the share of women using modern family planning services by 5 percentage points, a relative change of 55 percent. The overall quality score for health care facilities increased by 45 percent during the study period, but performance-based financing was found to have no effect on the quality of care as reported by patients. We did not find strong evidence of differential effects of performance-based financing across socioeconomic groups. The performance-based financing effects on the probability of using care when ill were found to be even smaller for the poor. Our findings suggest that a supply-side intervention such as performance-based financing without accompanying access incentives for poor people is unlikely to improve equity. More research into the cost-effectiveness of performance-based financing and how best to target vulnerable populations is warranted. Project HOPE—The People-to-People Health Foundation, Inc.

  18. The international Finance Corporation and financing of sustainable energy

    International Nuclear Information System (INIS)

    Younger, D.R.

    1999-01-01

    The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)

  19. 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…

  20. Pension Fund governing board

    CERN Multimedia

    HR Department

    2008-01-01

    On 16 March and 7 May, the Pension Fund Governing Board (PFGB) held its fourth and fifth meetings The first of these meetings was primarily dedicated to the examination of the strategic asset allocation. The PFGB reaffirmed the main goal of the new strategic asset allocation: to improve the Pension Fund’s position with regard to risk by lowering overall portfolio volatility through suitable investments in less volatile asset classes such as real estate and absolute return strategies, where the return does not depend on market trends and negative growth is extremely unlikely. The finalised document will be presented to the Finance Committee and the Council at their June meetings for approval, in accordance with the provisions of the Levaux report. The PFGB also took note of the Internal Audit’s report on Pension Fund operations and decided to refer it to Working Group I as a working document for establishing a control and internal monitoring system for Pension Fund oper...

  1. Promoting sustainable public finances in the European Union

    DEFF Research Database (Denmark)

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

    2016-01-01

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

  2. Reference Manual on Civil Works Planning, Implementation and Finance,

    Science.gov (United States)

    1987-09-01

    outstanding bond issue prior to the date on which the outstanding bonds become due or callable . Proceeds of the advance refunding bonds are deposited in... CALLABLE BOND . A bond which is subject to redem’tion at the issuer’s option prior to maturity at a specified price at or above par. COMPETITIVE...states and/or local governments incur debt by issuing tax-exempt bonds to finance public investments. Only the current annual payment of principal and

  3. Renewing governance.

    Science.gov (United States)

    Loos, Gregory P

    2003-01-01

    Globalization's profound influence on social and political institutions need not be negative. Critics of globalization have often referred to the "Impossible Trinity" because decision-making must 1. respect national sovereignty, 2. develop and implement firm regulation, and 3. allow capital markets to be as free as possible. To many, such goals are mutually exclusive because history conditions us to view policy-making and governance in traditional molds. Thus, transnational governance merely appears impossible because current forms of governance were not designed to provide it. The world needs new tools for governing, and its citizens must seize the opportunity to help develop them. The rise of a global society requires a greater level of generality and inclusion than is found in most policy bodies today. Politicians need to re-examine key assumptions about government. States must develop ways to discharge their regulatory responsibilities across borders and collaborate with neighboring jurisdictions, multilateral bodies, and business. Concepts such as multilateralism and tripartism show great promise. Governments must engage civil society in the spirit of shared responsibility and democratic decision-making. Such changes will result in a renewal of the state's purpose and better use of international resources and expertise in governance.

  4. 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.

  5. Fuel cycle financing, capital requirements and sources of funds

    International Nuclear Information System (INIS)

    Manderbach, R.W.

    1977-01-01

    An issue of global importance today is the economic case for nuclear power and the conservation of precious fossil resources. A question important to all of us is can sufficient financial resources be attracted to the nuclear industry in order to develop a complete fuel cycle industry capable of meeting the requirements of a global nuclear power industry. Future growth of the nuclear power industry will depend to a large extent on the timely development of a private competitive industry covering the total fuel cycle. The report of the Edison Electric Institute on Nuclear Fuels Supply estimates that by 1985 initial capital investment in the nuclear fuel cycle will total $15 billion and by the year 2000, $60 billion will be required. Although undoubtedly the amount of funding projected is manageable from a global availability standpoint, there is a hesitancy to commit financial resources to certain segments of the fuel cycle. This is because of the many unresolved problems in connection with the nuclear industry such as uncertainty regarding local and international governmental regulations and legislation, environmental and alternative technological considerations coupled, of course, with the substantial capital long term commitments needed in each of the several segments of the processes. Activities associated with the nuclear fuel cycle have unique investment requirements. Investments are needed in many diverse unrelated fields such as resource development and high technology process some of which are not yet fully commercialized. Sources of capital will be examined on a national scale, such as net earnings, depreciation, capital market and public subsidies. The paper also examines, in the broader context, capital investments in highly industrialized and developing countries as well as discussing the possible areas of Government guarantees and financing. The intensive capital required in certain segments of the cycle, which are to be developed by private

  6. Financing nuclear power in the U.K

    International Nuclear Information System (INIS)

    Bonner, F.E.

    1979-01-01

    In the United Kingdom the Central Electricity Generating Board (CEGB) are responsible for bulk supplies of electricity to the 12 Area Boards responsible for retailing in England and Wales. As such, the Board are responsible for over 90% of total generation in the UK and are therefore the body principally concerned with the financing of nuclear power growth. The author first looks at the problem of financing nuclear power from the point of view of the CEGB. Thereafter the situation in the UK is dealt with more generally and in that section reference is also made to the total call on the UK's resources involved in financing energy growth in general and nuclear power in particular. (author)

  7. Total Quality Leadership

    Science.gov (United States)

    1991-01-01

    More than 750 NASA, government, contractor, and academic representatives attended the Seventh Annual NASA/Contractors Conference on Quality and Productivity. The panel presentations and Keynote speeches revolving around the theme of total quality leadership provided a solid base of understanding of the importance, benefits, and principles of total quality management (TQM). The presentations from the conference are summarized.

  8. Capital Structure, Strategic Competition, and Governance

    NARCIS (Netherlands)

    T.T. Nguyen (Thuy Thu)

    2008-01-01

    textabstractThis thesis consists of four studies on the interactions of capital structure and product market competition, and on several aspects of governance, firm financing and growth. The first study investigates how competitive behavior and market uncertainty affect the capital structure of a

  9. 42 CFR 56.304 - Governing board.

    Science.gov (United States)

    2010-10-01

    ...) Composition. (1) A majority of the board members must be migratory and seasonal agricultural workers and..., finance and banking, legal affairs, trade unions, and other commercial and industrial concerns, or social... establishment of policy in the conduct of the center. (2) The governing board shall hold regularly scheduled...

  10. Islamic finance for SMES

    OpenAIRE

    ELASRAG, Hussein

    2016-01-01

    Abstract. Small and Medium Enterprises (SMEs) make up the bulk of the economic tissue of the economy. In developing countries, they represent the majority of employment, including female employment. Investing in SMEs is a long-term and smart strategy, with sustainable returns that multiply across regions, countries and societies. SMEs constitute the overwhelming majority of firms. Globally, SMEs make up over 95% of all firms, account for approximately 50% of GDP and 60%–70% of total employmen...

  11. The Adaptation Finance Gap Report

    DEFF Research Database (Denmark)

    UNEP’s Adaptation Gap Report series focuses on Finance, Technology and Knowledge gaps in climate change adaptation. It compliments the Emissions Gap Report series, and explores the implications of failing to close the emissions gap. The report builds on a 2014 assessment by the United Nations...... Environment Programme (UNEP), which laid out the concept of ‘adaptation gaps’ and outlined three such gaps: technology, finance and knowledge. The 2016 Adaptation Gap Report assesses the difference between the financial costs of adapting to climate change in developing countries and the amount of money...... actually available to meet these costs – a difference known as the “adaptation finance gap”. Like the 2014 report, the 2016 report focuses on developing countries, where adaptation capacity is often the lowest and needs the highest, and concentrates on the period up to 2050. The report identifies trends...

  12. Behavioural Finance and Its Postulates

    Directory of Open Access Journals (Sweden)

    Milena Vučinić

    2016-05-01

    Full Text Available The reasons for dealing with the chosen topic can be found in the fact that there is a certain number of anomalies, system errors and conduct leaving the frames of rational behaviour, not being included and presented synthetically within a concise scientific work. Instead, the analysis deals with definite, already identified postulates of behavioural economics and finance. During the research, induction, deduction, comparative and abstraction methods are used. The challenge of the research lies in the identification of those system errors, partialities and behaviours deviating from postulates of rational, typical for classical finance, not being covered by standard behavioural, economic and finance literature. However, the challenge is even bigger because of the fact that it deals with answers to demands of universality and conciseness. Its greatest importance is reflected in the extent of identified and processed anomalies decision makers face, as well as in the identification and description of factors implying absence of rationality during the decision making process.

  13. Difficulties in Raising Finance and Sources of Finance Available for SMEs

    Institute of Scientific and Technical Information of China (English)

    范怡纯

    2015-01-01

    Compared with large sized enterprises,one of the chief characters of smal and medium enterprises(SMEs)is that the scale is smal and the power has been highly concentrated.Essential y , almost any smal enterprise manages their business independently.Thus,the initiative of the operator total y determines the motivation for profits.As the operators are sensitive to the changeable market,implementing the combination of the right of ownership and management control can help operators either save the supervision costs or make quick decisions.However,dif iculties in raising finance have secularly blocked the development of the SMEs.Therefore,it becomes a key issue for the growing of the SMEs that how to ef ectively improve the financing situation of SMEs.

  14. Working together: financing the remediation and redevelopment of contaminated properties

    International Nuclear Information System (INIS)

    Ward, E.H.

    1999-01-01

    Local governments and lenders need to work together to encourage and facilitate remediation, redevelopment and full utilization of 'brownfield' sites. Over the past few years in the United States, there has been a trend to develop risk-based clean-up standards and voluntary clean-up programmes that encourage reuse of such sites. Newly available liability protection offered by local governments and private insurers has encouraged this trend. Methods of financing the remediation and redevelopment of contaminated properties are considered in this article. (author)

  15. 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.

  16. Organizational governance

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    This chapter reviews and discusses rational-choice approaches to organizational governance. These approaches are found primarily in organizational economics (virtually no rational-choice organizational sociology exists), particularly in transaction cost economics, principal-agent theory...

  17. Waste governance

    CSIR Research Space (South Africa)

    Oelofse, Suzanna HH

    2018-06-01

    Full Text Available of governance in Africa. The next section focuses on regulation, and the status of the regulatory frameworks in different African countries. Shortcomings in the regulatory framework are highlighted through examples in various countries. Specific policy...

  18. How to finance new energy-conservation equipment: investment in saving

    Energy Technology Data Exchange (ETDEWEB)

    Lipscombe, G

    1977-11-01

    A London banker outlines how companies can finance the new equipment needed to lower fuel consumption and reduce fuel bills. He notes that internal financing is the custom, but that the new urgency placed on efficient plant operation has broadened the options for financing capital projects. Financial considerations involve simple payback periods or a more sophisticated appraisal of an energy project's life-time effect on cash flow. Financiers will take into account whether there is a government grant, fuel cost savings, project costs, and tax allowances, although there are disadvantages in the discount approach. Outside sources of capital include bank drafts, term loans, leasing facilities, hire-purchase, and government loans. Each company must determine the best type of financing for its needs, but the opportunities improve when the energy manager, company accountant, and bank manager understand each other.

  19. Total Logistic Plant Solutions

    Directory of Open Access Journals (Sweden)

    Dusan Dorcak

    2016-02-01

    Full Text Available The Total Logistics Plant Solutions, plant logistics system - TLPS, based on the philosophy of advanced control processes enables complex coordination of business processes and flows and the management and scheduling of production in the appropriate production plans and planning periods. Main attributes of TLPS is to create a comprehensive, multi-level, enterprise logistics information system, with a certain degree of intelligence, which accepts the latest science and research results in the field of production technology and logistics. Logistic model of company understands as a system of mutually transforming flows of materials, energy, information, finance, which is realized by chain activities and operations

  20. Corporate Governance

    Directory of Open Access Journals (Sweden)

    Dragoș-Mihail Daghie

    2011-05-01

    Full Text Available The purpose of this study is to analyze and understand the recently introduced form of managementof a company limited by shares. The Law no. 441/2006, which fundamentally amended Company Law,created this form of controlling the company, the corporate governance, but the legislation does not explicitlydefine what it wants to achieve through this instrument. This topic is recent in research as the theme ofgerman-roman commercial law systems (in French corporate governance system was introduced in 1966 andin Romania in 2006 but in terms of Anglo-Saxon law, the topic has been addressed years since 1776 (AdamSmith: The Wealth of Nations The concept of corporate governance would like, as a result, to establish somerules that companies must comply in order to achieve effective governance, transparent and beneficial forboth shareholders and for the minority. Corporate governance is a key element with an aim at improvingefficiency and economic growth in full accordance with the increase of investors’ confidence. Corporategovernance assumes a series of relationship between the company management, leadership, shareholders andthe other people concerned. Also corporate governance provides for that structure by means of which thecompany’s targets are set out and the means to achieve them and also the manner how to monitor such.

  1. The financing of nuclear power plants

    International Nuclear Information System (INIS)

    Taylor, M.

    2009-01-01

    Existing nuclear generating capacity plays an important role in providing secure, economic and low-carbon electricity supplies in many OECD countries. At the same time, there is increasing recognition that an expansion of nuclear power could play a valuable role in reducing future carbon dioxide emissions. However, in recent years only a handful of new nuclear power plants (NPPs) have been built in just a few OECD countries. An important reason for this is the challenges associated with financing the construction of new NPPs. The just-published NEA report entitled The Financing of Nuclear Power Plants examines these challenges. In addition, recognizing that any expansion of nuclear power programmes will require strong and sustained government support, the report highlights the role of governments in facilitating and encouraging investment in new nuclear capacity. Key actions that should be considered by governments that wish to see investment in new NPPs include: - Provide clear and sustained policy support for the development of nuclear power, by setting out the case for a nuclear component in energy supply as part of a long-term national energy strategy. - Work with electricity utilities, financial companies and other potential investors, and the nuclear industry from an early stage to address concerns that may prevent nuclear investment and to avoid mistakes in establishing the parameters for new NPPs. - Establish an efficient and effective regulatory system which provides adequate opportunities for public involvement in the decision-making process, while also providing potential investors with the certainty they require to plan such a major investment. - Put arrangements in place for the management of radioactive waste and spent fuel, and show progress towards a solution for final disposal of waste. For investors in NPPs, the financial arrangements for paying their fair share of the costs must be clearly defined. - Ensure that electricity market regulation does

  2. The Marginal Source of Finance

    OpenAIRE

    Lindhe, Tobias

    2002-01-01

    This paper addresses the ongoingdebate on which view of equity, traditional or new, that best describes firm behavior. According to the traditional view, the marginal source of finance is new equity, whereas under to the new view, marginal financing comes from retained earnings. In the theoretical part, we set up a model where the firm faces a cost of adjusting the dividend level because of an aggravated free cash flow problem. The existence of such a cost - which has been used in arguing the...

  3. Finance and climate, which stakes?

    International Nuclear Information System (INIS)

    Pauthier, Alice

    2016-03-01

    As the financing emerged during the Paris COP21 and in IPCC reports as a need as well as a mean to act against climate change, the author first discusses the issue of the cost of adaptation and of its financing. She also discusses whether mitigation costs would result in destabilising financial flows. She comments the possible stronger decline of investments in fossil energies, and addresses the problem of fund raising for adaptation and mitigation. She discusses the possibility of a pricing action (notably regarding CO_2) to constrain economic actors, and the necessity of a re-assessment of the carbon risk

  4. Project finance for renewable energy

    International Nuclear Information System (INIS)

    Mills, S.J.; Taylor, M.

    1994-01-01

    This paper is intended to provide general advice to sponsors of renewable energy projects who expect to raise project-based financing from commercial banks to fund the development of their projects. It sets out, for the benefit of such sponsors, how bankers typically approach the analysis of these undertakings and in particular the risk areas on which they concentrate. By doing so it should assist sponsors to maximize their prospects of raising bank finance. The watchword for sponsors approaching banks must be ''Be Prepared'' . (author)

  5. Financing Your Small Business: A Workbook for Financing Small Business.

    Science.gov (United States)

    Compton, Clark W.

    Designed to assist established businesspeople with the development of a loan proposal, this workbook offers information on sources of financing and step-by-step guidance on applying for a loan. After chapter I discusses borrowers' and lenders' attitudes towards money, chapter II offers suggestions for determining financial needs. Chapter III lists…

  6. Equity in health financing of Guangxi after China's universal health coverage: evidence based on health expenditure comparison in rural Guangxi Zhuang autonomous region from 2009 to 2013.

    Science.gov (United States)

    Qin, Xianjing; Luo, Hongye; Feng, Jun; Li, Yanning; Wei, Bo; Feng, Qiming

    2017-09-29

    Healthcare financing should be equitable. Fairness in financial contribution and protection against financial risk is based on the notion that every household should pay a fair share. Health policy makers have long been concerned with protecting people from the possibility that ill health will lead to catastrophic financial payments and subsequent impoverishment. A number of studies on health care financing equity have been conducted in some provinces of China, but in Guangxi, we found such observation is not enough. What is the situation in Guagnxi? A research on rural areas of Guangxi can add knowledge in this field and help improve the equity and efficiency of health financing, particularly in low-income citizens in rural countries, is a major concern in China's medical sector reform. Socio-economic characteristics and healthcare payment data were obtained from two rounds of household surveys conducted in 2009 (4634 respondents) and 2013 (3951 respondents). The contributions of funding sources were determined and a progressivity analysis of government healthcare subsidies was performed. Household consumption expenditure and total healthcare payments were calculated and incidence and intensity of catastrophic health payments were measured. Summary indices (concentration index, Kakwani index and Gini coefficient) were obtained for the sources of healthcare financing: indirect taxes, out of pocket payments, and social insurance contributions. The overall health-care financing system was regressive. In 2013, the Kakwani index was 0.0013, the vertical effect of all the three funding sources was 0.0001, and some values exceeded 100%, indicating that vertical inequity had a large influence on causing total health financing inequity. The headcount of catastrophic health payment declined sharply between 2009 and 2013, using total expenditure (from 7.3% to 1.2%) or non-food expenditure (from 26.1% to 7.5%) as the indicator of household capacity to pay. Our study

  7. Financing Energy Efficient Homes

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Existing buildings require over 40% of the world's total final energy consumption, and account for 24% of world CO2 emissions (IEA, 2006). Much of this consumption could be avoided through improved efficiency of building energy systems (IEA, 2006) using current, commercially-viable technology. In most cases, these technologies make economic sense on a life-cycle cost analysis (IEA, 2006b). Moreover, to the extent that they reduce dependence on risk-prone fossil energy sources, energy efficient technologies also address concerns of energy security.

  8. Financing Energy Efficient Homes

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Existing buildings require over 40% of the world's total final energy consumption, and account for 24% of world CO2 emissions (IEA, 2006). Much of this consumption could be avoided through improved efficiency of building energy systems (IEA, 2006) using current, commercially-viable technology. In most cases, these technologies make economic sense on a life-cycle cost analysis (IEA, 2006b). Moreover, to the extent that they reduce dependence on risk-prone fossil energy sources, energy efficient technologies also address concerns of energy security.

  9. The rise, the fall, and ... : the emerging recovery of project finance transport

    OpenAIRE

    Estache, Antonio; Strong, John

    2000-01-01

    Recent developments in emerging financial markets have dramatically changed the appetite for (and terms of) transport infrastructure projects. As a result of defaults in Asia and Russia and devaluations in Asia, Brazil, and Russia, political and currency and exchange risk premia have increased dramatically. Given large needs for sovereign debt financing, infrastructure project finance will be seeking guarantees at the same time as governments are issuing primary securities. Large portfolio ou...

  10. The managerial process of business financing

    Directory of Open Access Journals (Sweden)

    Solomia Andres

    2008-10-01

    Full Text Available This paper presents some modalities and financing forces for business, getting out in the first place the entrepreneur ingenuity for finding these sources of financing necessary for the business success. Also get some contributions and proposals regarding the criteria’s of which the entrepreneur must be take care in choosing the financial sources, for preparing the finance pack and presenting the financing demands, which good documented, not only grows up the chances of one financing but also can lead to fix some relations on long time with financing source.

  11. Delegation and Staff Commitment in the School of Finance and ...

    African Journals Online (AJOL)

    The purpose of the study was to investigate the relationship between Delegation of Authority and Staff Commitment in the School of Finance and Banking in Kigali Rwanda. A cross-sectional survey design was used with the target sample size of 97 out of 130 parent population. The total number of questionnaires that were ...

  12. Delays help German utilities maintain self-financing ratios

    International Nuclear Information System (INIS)

    Radtke, G.

    1979-01-01

    Estimates of electricity consumption have been substantially reduced and nuclear plant is now expected to be 22% of total generating capacity in 1985 instead of the earlier forecast of 36%. The decline in the ordering of new plant has benefited the financial position of the electricity utilities and the expected fall in self-financing ratios has not occurred. (U.K.)

  13. Financial decentralization and its impact on local finance system of Ukraine

    Directory of Open Access Journals (Sweden)

    I. V. Mizina

    2016-07-01

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

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

    Science.gov (United States)

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

    2018-02-01

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

  15. Consumer acceptance of wireless finance

    NARCIS (Netherlands)

    Kleijnen, M.; Wetzels, M.G.M.; Ruyter, de J.C.

    2004-01-01

    M-commerce has been heralded repeatedly as the new service frontier of the millennium. Present market reality, however, seems to be less optimistic. Therefore, the current study explores the factors contributing to the adoption of mobile services in a context of wireless finance. The technology

  16. Off-Balance Sheet Financing.

    Science.gov (United States)

    Adams, Matthew C.

    1998-01-01

    Examines off-balance sheet financing, the facilities use of outsourcing for selected needs, as a means of saving operational costs and using facility assets efficiently. Examples of using outside sources for energy supply and food services, as well as partnering with business for facility expansion are provided. Concluding comments address tax…

  17. Revamping California's Education Finance System.

    Science.gov (United States)

    McFadden, Brett

    2003-01-01

    Describes reasons for California's budget deficits and their impact on school finance. Offers five possible solutions to the school funding crises: Restructure the state's tax and revenue system, restore school district revenue-sharing abilities, initiate a top-to-bottom mandate review, provide greater fiscal and program flexibility, and revamp…

  18. School Finance Reform. At Issue

    Science.gov (United States)

    Weston, Margaret

    2010-01-01

    Californians are very concerned about funding for their K-12 public schools. They consistently say that K-12 education should be protected from spending cuts over and above any other area of the state budget. California's system of school finance is in trouble. Many studies have found it to be inequitable, with wide variation in per-pupil funding.…

  19. Entangled geographies of "Irish" finance

    NARCIS (Netherlands)

    Hendrikse, R.P.

    2013-01-01

    This paper dissects the financial crisis through an analysis of financial development in Ireland. Although a single system, Irish finance is split in two. Illustrative of national financial developments, this paper details how public officials aimed to create a financial center in Cork. Exemplifying

  20. Australian University International Student Finances

    Science.gov (United States)

    Forbes-Mewett, Helen; Marginson, Simon; Nyland, Chris; Ramia, Gaby; Sawir, Erlenawati

    2009-01-01

    The omission of international students from the Australian Vice-Chancellor's Committee (AVCC) 2007 national study on student finances is indicative of a pattern of exclusion. The exclusion is unacceptable from a humane perspective and feeds the belief that Australians perceive international students primarily as "cash cows". This study…