WorldWideScience

Sample records for worldwide interbank financial

  1. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) : Cooperative governance for network innovation, standards, and community

    OpenAIRE

    Scott, Suzan V; Zachariadis, Markos

    2014-01-01

    This book traces the history and development of a mutual organization in the financial sector called SWIFT, the Society for Worldwide Interbank Financial Telecommunication. Over the last 40 years, SWIFT has served the financial services sector as proprietary communications platform, provider of products and services, standards developer, and conference organizer (Sibos). Founded to create efficiencies by replacing telegram and telex (or “wires”) for international payments, SWIF...

  2. Bank liquidity, interbank markets, and monetary policy

    NARCIS (Netherlands)

    Freixas, X.; Martin, A.; Skeie, D.

    2011-01-01

    A lesson of the recent financial crisis is that the interbank market is crucial for banks facing uncertainty regarding their liquidity needs. This article studies the efficiency of the interbank market in allocating funds. We show that the central bank should lower the interbank rate when confronted

  3. Complex systems in financial economics: Applications to interbank and stock markets

    NARCIS (Netherlands)

    in 't Veld, D.L.

    2014-01-01

    Complex systems are characterised by strong interaction at the micro level that can induce large changes at the macro level. This thesis applies the theory of complex systems to the interbank market (Part I) and the stock market (Part II). Evidence found in data from the Netherlands and the US makes

  4. Identifying Interbank Loans, Rates, and Claims Networks from Transactional Data

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Cely, Jorge; Cadena, Carlos

    2015-01-01

    We identify interbank (i.e. non-collateralized) loans from the Colombian large-value payment system by implementing Furfine’s method. After identifying interbank loans from transactional data we obtain the interbank rates and claims without relying on financial institutions’ reported data.

  5. How Unstable Are Complex Financial Systems? Analyzing an Inter-bank Network of Credit Relations

    Science.gov (United States)

    Sinha, Sitabhra; Thess, Maximilian; Markose, Sheri

    The recent worldwide economic crisis of 2007-09 has focused attention on the need to analyze systemic risk in complex financial networks. We investigate the problem of robustness of such systems in the context of the general theory of dynamical stability in complex networks and, in particular, how the topology of connections influence the risk of the failure of a single institution triggering a cascade of successive collapses propagating through the network. We use data on bilateral liabilities (or exposure) in the derivatives market between 202 financial intermediaries based in USA and Europe in the last quarter of 2009 to empirically investigate the network structure of the over-the-counter (OTC) derivatives market. We observe that the network exhibits both heterogeneity in node properties and the existence of communities. It also has a prominent core-periphery organization and can resist large-scale collapse when subjected to individual bank defaults (however, failure of any bank in the core may result in localized collapse of the innermost core with substantial loss of capital) but is vulnerable to system-wide breakdown as a result of an accompanying liquidity crisis.

  6. Bank Liquidity, Interbank Markets, and Monetary Policy

    NARCIS (Netherlands)

    Freixas, X.; Martin, A.; Skeie, D.

    2010-01-01

    A major lesson of the recent financial crisis is that the interbank lending market is crucial for banks facing large uncertainty regarding their liquidity needs. This paper studies the efficiency of the interbank lending market in allocating funds. We consider two different types of liquidity shocks

  7. Bankruptcy cascades in interbank markets.

    Directory of Open Access Journals (Sweden)

    Gabriele Tedeschi

    Full Text Available We study a credit network and, in particular, an interbank system with an agent-based model. To understand the relationship between business cycles and cascades of bankruptcies, we model a three-sector economy with goods, credit and interbank market. In the interbank market, the participating banks share the risk of bad debits, which may potentially spread a bank's liquidity problems through the network of banks. Our agent-based model sheds light on the correlation between bankruptcy cascades and the endogenous economic cycle of booms and recessions. It also demonstrates the serious trade-off between, on the one hand, reducing risks of individual banks by sharing them and, on the other hand, creating systemic risks through credit-related interlinkages of banks. As a result of our study, the dynamics underlying the meltdown of financial markets in 2008 becomes much better understandable.

  8. Interbank funding as insurance mechanism for (persistent) liquidity shocks

    OpenAIRE

    Bluhm, Marcel

    2015-01-01

    The interbank market is important for the efficient functioning of the financial system, transmission of monetary policy and therefore ultimately the real economy. In particular, it facilitates banks' liquidity management. This paper aims at extending the literature which views interbank markets as mutual liquidity insurance mechanism by taking into account persistence of liquidity shocks. Following a theory of long-term interbank funding a financial system which is modeled as a micro-founded...

  9. Systemic risk on different interbank network topologies

    Science.gov (United States)

    Lenzu, Simone; Tedeschi, Gabriele

    2012-09-01

    In this paper we develop an interbank market with heterogeneous financial institutions that enter into lending agreements on different network structures. Credit relationships (links) evolve endogenously via a fitness mechanism based on agents' performance. By changing the agent's trust on its neighbor's performance, interbank linkages self-organize themselves into very different network architectures, ranging from random to scale-free topologies. We study which network architecture can make the financial system more resilient to random attacks and how systemic risk spreads over the network. To perturb the system, we generate a random attack via a liquidity shock. The hit bank is not automatically eliminated, but its failure is endogenously driven by its incapacity to raise liquidity in the interbank network. Our analysis shows that a random financial network can be more resilient than a scale free one in case of agents' heterogeneity.

  10. Network topology and interbank credit risk

    International Nuclear Information System (INIS)

    González-Avella, Juan Carlos; Hoffmann de Quadros, Vanessa; Iglesias, José Roberto

    2016-01-01

    Modern financial systems are greatly entangled. They exhibit a complex interdependence, including a network of bilateral exposures in the interbank market. The most frequent interaction consists in operations where institutions with surplus liquidity lend to those with a liquidity shortage. These loans may be interpreted as links between the banks and the links display features in some way representative of scale-free networks. While the interbank market is responsible for efficient liquidity allocation, it also introduces the possibility for systemic risk via financial contagion. Insolvency of one bank can propagate through links leading to insolvency of other banks. In this paper, we explore the characteristics of financial contagion in interbank networks whose distribution of links approaches a power law, as well as we improve previous models by introducing a simple mechanism to describe banks’ balance sheets, that are obtained from information on network connectivity. By varying the parameters for the creation of the network, several interbank networks are built, in which the concentration of debt and credit comes from the distribution of links. The results suggest that more connected networks that have a high concentration of credit are more resilient to contagion than other types of networks analyzed.

  11. Financial Worldwide Crisis: The Anti-Counter Cycle of Australia

    Directory of Open Access Journals (Sweden)

    Joao NEGREIROS

    2013-12-01

    Full Text Available If Australia has been subject to major influences by the United States and European countries, why is its economy healthier than their counter partners? What are the economic foundations that underline this anti-counter cycle of financial worldwide crisis from Australia? What are some of the lessons that countries from Europe that have not fared during the current financial worldwide crisis should learn from Australia? The purpose of this paper is to review the present Australian management system. Four changes are identified including embracement of corporate governance, a shift to adopt more R&D activities, a shift to adopt environmental sustainability practices and emerging corporate social responsibility. On the conclusions settings, a recap and recommendation on how Portugal, a member of the PIGS (Portugal, Italy, Greece and Spain Southern European Countries club forgot to embrace directives that have been applied in Australia, to avoid the actual financial and identity crisis.

  12. Entangling Credit and Funding Shocks in Interbank Markets.

    Directory of Open Access Journals (Sweden)

    Giulio Cimini

    Full Text Available Credit and liquidity shocks represent main channels of financial contagion for interbank lending markets. On one hand, banks face potential losses whenever their counterparties are under distress and thus unable to fulfill their obligations. On the other hand, solvency constraints may force banks to recover lost fundings by selling their illiquid assets, resulting in effective losses in the presence of fire sales-that is, when funding shortcomings are widespread over the market. Because of the complex structure of the network of interbank exposures, these losses reverberate among banks and eventually get amplified, with potentially catastrophic consequences for the whole financial system. Inspired by the recently proposed Debt Rank, in this work we define a systemic risk metric that estimates the potential amplification of losses in interbank markets accounting for both credit and liquidity contagion channels: the Debt-Solvency Rank. We implement this framework on a dataset of 183 European banks that were publicly traded between 2004 and 2013, showing indeed that liquidity spillovers substantially increase systemic risk, and thus cannot be neglected in stress-test scenarios. We also provide additional evidence that the interbank market was extremely fragile up to the global financial crisis, becoming slightly more robust only afterwards.

  13. Entangling Credit and Funding Shocks in Interbank Markets

    Science.gov (United States)

    Serri, Matteo

    2016-01-01

    Credit and liquidity shocks represent main channels of financial contagion for interbank lending markets. On one hand, banks face potential losses whenever their counterparties are under distress and thus unable to fulfill their obligations. On the other hand, solvency constraints may force banks to recover lost fundings by selling their illiquid assets, resulting in effective losses in the presence of fire sales—that is, when funding shortcomings are widespread over the market. Because of the complex structure of the network of interbank exposures, these losses reverberate among banks and eventually get amplified, with potentially catastrophic consequences for the whole financial system. Inspired by the recently proposed Debt Rank, in this work we define a systemic risk metric that estimates the potential amplification of losses in interbank markets accounting for both credit and liquidity contagion channels: the Debt-Solvency Rank. We implement this framework on a dataset of 183 European banks that were publicly traded between 2004 and 2013, showing indeed that liquidity spillovers substantially increase systemic risk, and thus cannot be neglected in stress-test scenarios. We also provide additional evidence that the interbank market was extremely fragile up to the global financial crisis, becoming slightly more robust only afterwards. PMID:27560513

  14. Entangling Credit and Funding Shocks in Interbank Markets.

    Science.gov (United States)

    Cimini, Giulio; Serri, Matteo

    2016-01-01

    Credit and liquidity shocks represent main channels of financial contagion for interbank lending markets. On one hand, banks face potential losses whenever their counterparties are under distress and thus unable to fulfill their obligations. On the other hand, solvency constraints may force banks to recover lost fundings by selling their illiquid assets, resulting in effective losses in the presence of fire sales-that is, when funding shortcomings are widespread over the market. Because of the complex structure of the network of interbank exposures, these losses reverberate among banks and eventually get amplified, with potentially catastrophic consequences for the whole financial system. Inspired by the recently proposed Debt Rank, in this work we define a systemic risk metric that estimates the potential amplification of losses in interbank markets accounting for both credit and liquidity contagion channels: the Debt-Solvency Rank. We implement this framework on a dataset of 183 European banks that were publicly traded between 2004 and 2013, showing indeed that liquidity spillovers substantially increase systemic risk, and thus cannot be neglected in stress-test scenarios. We also provide additional evidence that the interbank market was extremely fragile up to the global financial crisis, becoming slightly more robust only afterwards.

  15. Identifying Central Bank Liquidity Super-Spreaders in Interbank Funds Networks (Replaced by CentER DP 2014-047)

    NARCIS (Netherlands)

    León, C.; Machado, C.; Sarmiento, M.

    2014-01-01

    Evidence suggests that the Colombian interbank funds market is an inhomogeneous and hierarchical network in which a few financial institutions fulfill the role of “super-spreaders” of central bank liquidity among market participants. Results concur with evidence from other interbank markets and

  16. The Stability of Interbank Market Network: A Perspective on Contagion and Risk Sharing

    Directory of Open Access Journals (Sweden)

    Chi Xie

    2016-01-01

    Full Text Available As an important part of the financial system, interbank market provides banks with liquidity and credit lending and also is the main channel for risk contagion. In this paper, we test the existence of systematic risk contagion within the Chinese interbank market. By building the networks of the Chinese interbank market for each year and using the measure of mutual information, we quantitatively detect the changes of interbank market networks and observe that the correlations between banks become increasingly tighter in recent years. With the bilateral risk exposure among Chinese listed commercial banks, we find that the possibility of systemic risk contagion in Chinese interbank market is fairly small. But of great concern on each individual bank, the matter is different. Our simulation shows that the failures of three special banks (i.e., Agricultural Bank of China and Bank of China and Industrial and Commercial Bank of China most likely lead to systemic risk contagion. Furthermore, we test the antirisk ability of the Chinese interbank market from the perspective of risk sharing and discover that the interbank market is stable when the loss scale is lower than forty percent of banks’ total core capital.

  17. Insolvency and contagion in the Brazilian interbank market

    Science.gov (United States)

    Souza, Sergio R. S.; Tabak, Benjamin M.; Silva, Thiago C.; Guerra, Solange M.

    2015-08-01

    This paper proposes a new way to model and analyze contagion in interbank networks. We use a unique dataset from the Brazilian financial system and include all active financial intermediaries. We show that the contagion chain has a short propagation path. We find that first-round contagion is generated only by banks and that medium-sized banks can generate contagion, which implies that size is not the sole determinant of importance within networks. Most vulnerable financial institutions are not banks. Finally, we compute a lower bound for the financial system expected losses in a 1-year horizon. The results contribute to the development of a financial stability-monitoring toolkit.

  18. The Dutch Interbank Computer Network

    NARCIS (Netherlands)

    Michiels, E.F.

    1988-01-01

    At the end of 1980, a strategic decision was made by the Dutch banks and savings banks to commence the development of a Data Communications Infrastructure (DCI), to be used for a number of forthcoming interbank applications. It was agreed that this new data communications infrastructure should be

  19. Evolution of Controllability in Interbank Networks

    Science.gov (United States)

    Delpini, Danilo; Battiston, Stefano; Riccaboni, Massimo; Gabbi, Giampaolo; Pammolli, Fabio; Caldarelli, Guido

    2013-04-01

    The Statistical Physics of Complex Networks has recently provided new theoretical tools for policy makers. Here we extend the notion of network controllability to detect the financial institutions, i.e. the drivers, that are most crucial to the functioning of an interbank market. The system we investigate is a paradigmatic case study for complex networks since it undergoes dramatic structural changes over time and links among nodes can be observed at several time scales. We find a scale-free decay of the fraction of drivers with increasing time resolution, implying that policies have to be adjusted to the time scales in order to be effective. Moreover, drivers are often not the most highly connected ``hub'' institutions, nor the largest lenders, contrary to the results of other studies. Our findings contribute quantitative indicators which can support regulators in developing more effective supervision and intervention policies.

  20. Default contagion risks in Russian interbank market

    Science.gov (United States)

    Leonidov, A. V.; Rumyantsev, E. L.

    2016-06-01

    Systemic risks of default contagion in the Russian interbank market are investigated. The analysis is based on considering the bow-tie structure of the weighted oriented graph describing the structure of the interbank loans. A probabilistic model of interbank contagion explicitly taking into account the empirical bow-tie structure reflecting functionality of the corresponding nodes (borrowers, lenders, borrowers and lenders simultaneously), degree distributions and disassortativity of the interbank network under consideration based on empirical data is developed. The characteristics of contagion-related systemic risk calculated with this model are shown to be in agreement with those of explicit stress tests.

  1. Monetary Policy Shocks and Risk Premia in the Interbank Market

    DEFF Research Database (Denmark)

    Wingender, Asger Moll

    2011-01-01

    Unexpected changes in the federal funds rate are shown to have significant effects on risk premia in the money market. The spread between interbank lending rates and U.S. Treasury bills tends to narrow when the FOMC decides to cut interest rates by more than the expectation implied by federal funds...... futures. However, rate cuts taking place at unscheduled FOMC meetings can increase risk premia during periods of financial distress, consistent with the view that central bank actions under such circumstances are perceived as signals that policy makers have private information of further unfavorable...... developments in financial markets....

  2. Identifying Central Bank Liquidity Super-Spreaders in Interbank Funds Networks

    NARCIS (Netherlands)

    Léon, C.; Machado, C.; Sarmiento, M.

    2014-01-01

    Evidence suggests that the Colombian interbank funds market exhibits an inhomogeneous and hierarchical network structure, akin to a core-periphery organization, in which a few financial institutions fulfill the role of super-spreaders because of their simultaneous importance as global borrowers and

  3. Finding the core : Network structure in interbank markets

    NARCIS (Netherlands)

    in 't Veld, Daan; van Lelyveld, Iman

    2014-01-01

    This paper investigates the network structure of interbank markets. Using a dataset of interbank exposures in the Netherlands, we corroborate the recent hypothesis that the core periphery model is a 'stylised fact' of interbank markets. We find a core of highly connected banks intermediating between

  4. Interbank exposures: quantifying the risk of contagion

    OpenAIRE

    C. H. Furfine

    1999-01-01

    This paper examines the likelihood that failure of one bank would cause the subsequent collapse of a large number of other banks. Using unique data on interbank payment flows, the magnitude of bilateral federal funds exposures is quantified. These exposures are used to simulate the impact of various failure scenarios, and the risk of contagion is found to be economically small.

  5. The Topology of Danish Interbank Money Flows

    DEFF Research Database (Denmark)

    Rørdam, Kirsten Bonde; Bech, Morten Linnemann

    This paper presents the first topological analysis of Danish money market flows. We analyze the structure of two networks with different types of transactions. The first network is the money market network, which is driven by banks' behavior on the interbank market, the second is the network...

  6. A STUDY ON FINANCIAL DERIVATIVE WORLDWIDE TRANSACTIONS – FUTURES CONTRACTS

    Directory of Open Access Journals (Sweden)

    SECHEL Ioana-Cristina

    2012-07-01

    Full Text Available Financial products and financial derivatives transactions are on front page in the profile publications, because they have generated huge gains for a small part of market participants, and losses as well, sometimes followed by collapse even on the international financial institutions. Very common we can find in specialized media the hypothesis that the global instability was caused by derivative contracts and by the magnitude of these transactions, from the years preceding the crisis. Since they appeared in order to protect investors against various risks, we believe that the approach must have via derivative products is the ethical one. It is true that derivatives trades have grown very rapidly and have expanded from the commercial field (commodity derivatives to the capital market, but this was because the demand for such products was very high. Basically, the demand for financial derivatives products has validated their existence in the market. Derivative financial products are used by traders of financial intermediation companies, dealers, brokers, individual investors and corporations or governments. Precisely because of this large spectrum of users of financial derivatives, we can ask whether they should be used only by specialists in derivatives trading. Taken literally, the term derivative refers to a new product resulting from the modification of an existing product, but has different properties from the original product and from which it was derived (Business Dictionary 2012. But financially speaking, a derivative is a financial contract between two or more parts that comes from the future value of n reference asset (Reuters 2001, 17. Of course, in literature there are many definitions of the concept of financial derivative. If we were to build our own simple definition, we define financial derivatives as financial contracts based on an underlying asset whose price on the spot market determines its price. This is a very simple

  7. Transmission of Bank Liquidity Shocks in Loan and Deposit Markets: The Role of Interbank Borrowing and Market Monitoring

    NARCIS (Netherlands)

    Allen, F.; Hryckiewicz, A.; Kowalewski, O.; Tumer Alkan, G.

    2014-01-01

    We examine the international transmission of liquidity shocks from multinational bank holding companies to their subsidiaries during the financial crisis of 2008. Our results demonstrate that a subsidiary's reduction in lending is strongly related to its parent bank's lending via the interbank

  8. Volatility forecasting for interbank offered rate using grey extreme learning machine: The case of China

    International Nuclear Information System (INIS)

    Liu, Xiaoyong; Fu, Hui

    2016-01-01

    Interbank Offered rate is the only direct market rate in China’s currency market. Volatility forecasting of China Interbank Offered Rate (IBOR) has a very important theoretical and practical significance for financial asset pricing and financial risk measure or management. However, IBOR is a dynamics and non-steady time series whose developmental changes have stronger random fluctuation, so it is difficult to forecast the volatility of IBOR. This paper offers a hybrid algorithm using grey model and extreme learning machine (ELM) to forecast volatility of IBOR. The proposed algorithm is composed of three phases. In the first, grey model is used to deal with the original IBOR time series by accumulated generating operation (AGO) and weaken the stochastic volatility in original series. And then, a forecasting model is founded by using ELM to analyze the new IBOR series. Lastly, the predictive value of the original IBOR series can be obtained by inverse accumulated generating operation (IAGO). The new model is applied to forecasting Interbank Offered Rate of China. Compared with the forecasting results of BP and classical ELM, the new model is more efficient to forecasting short- and middle-term volatility of IBOR.

  9. 78 FR 50135 - AIMS Worldwide, Inc., Apollo Capital Group, Inc., CommunitySouth Financial Corp., Last Mile...

    Science.gov (United States)

    2013-08-16

    ... SECURITIES AND EXCHANGE COMMISSION [File No. 500-1] AIMS Worldwide, Inc., Apollo Capital Group, Inc., CommunitySouth Financial Corp., Last Mile Logistics Group, Inc., Made in America Entertainment... securities of AIMS Worldwide, Inc. because it has not filed any periodic reports since the period ended June...

  10. INTERBANK DEPOSIT MARKET RELEVANCE FOR CROATIAN BANKING SYSTEM SUSTAINABILITY

    OpenAIRE

    Ercegovac, Roberto; Kundid, Ana

    2011-01-01

    Existence, functionality and sustainability of the interbank deposit market signifi cantly determinate bank’s asset and liability management (ALM) potentials and thus an overall banking sector performance. Among other numerous factors in the banking business, key roles of the interbank deposit market like availability of short-term liquidity sources, ensuring investment and lending opportunities as well as allowing hedging potentials, considerably contribute to commercial bank’s risk – return...

  11. Loan and nonloan flows in the Australian interbank network

    OpenAIRE

    Sokolov, Andrey; Webster, Rachel; Melatos, Andrew; Kieu, Tien

    2012-01-01

    High-value transactions between Australian banks are settled in the Reserve Bank Information and Transfer System (RITS) administered by the Reserve Bank of Australia. RITS operates on a real-time gross settlement (RTGS) basis and settles payments sourced from the SWIFT, the Austraclear, and the interbank transactions entered directly into RITS. In this paper, we analyse a dataset received from the Reserve Bank of Australia that includes all interbank transactions settled in RITS on an RTGS ba...

  12. INTER-BANK CALL MONEY MARKET TRANSACTION IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Aries Haryadi

    2013-10-01

    Full Text Available AbstractThis study analyzes the effect of Indonesian Bank loan, the amount of demand deposits, and the Indonesia economic crisis in 1997 on the interbank call money market transactions in Indonesia using a multiple linear regression method. This study finds that the variables influencing the interbank call money market transactions are the interest rate of interbank call money market and the check money. Both variables have positive effect on the interbank money market transactions in Indonesia.Keywords: Loans, Interest Rate, Check Money, Monetary Crisis, Interbank Money Market TransactionsJEL Classification Numbers: G21, G28AbstrakPenelitian ini menganalisis pengaruh pinjaman Bank Indonesia terhadap tingkat bunga pasar uang antar bank, jumlah uang giral, dan krisis ekonomi Indonesia tahun 1997 terhadap transaksi pasar uang antar bank di Indonesia menggunakan metode regresi linier berganda. Penelitian ini menemukan bahwa variabel yang berpengaruh terhadap transaksi pasar uang antar bank tersebut adalah tingkat bunga pasar uang antar bank dan jumlah uang giral. Dua variabel tersebut berpengaruh positif terhadap transaksi pasar uang antar bank di Indonesia.Keywords: Pinjaman, Tingkat Bunga, Uang Giral, Krisis Moneter, Transaksi Pasar Uang antar BankJEL Classification Numbers: G21, G28

  13. Adjustment of interbank lending in pre- and post-regulation periods: Empirical analysis of Vietnamese commercial banks

    Directory of Open Access Journals (Sweden)

    Ho Thanh Tung

    2017-10-01

    Full Text Available This article aims to analyze the interbank lending adjustment during the period when Vietnamese commercial banks are compliant with some parts of the Basel regulation framework. A pilot regulation period has started in 2011 and full application will be effective by the end of 2018. Partial adjustment models and variance decomposition are used for the analyses. In the analysis of the quarterly released financial statements of Vietnamese commercial banks in the period from 2008/Q1 to 2015/Q4, the empirical evidence showed that throughout the period, lending to non-bank and high liquidity assets contributed to the adjustment in both long run and short run with a negative association. In addition, the loan loss allowance contributed to the adjustment in the post-regulation period only with a positive association. These highly contributing factors also show a potential shock after the adjustment of the interbank lending. The results imply there is a need for interbank lending portfolio report and an efficient control over the IRB of Vietnamese commercial banks.

  14. Financial integration and liquidity crises

    NARCIS (Netherlands)

    Castiglionesi, Fabio; Feriozzi, F.; Lorenzoni, G.

    2017-01-01

    This paper analyzes the effects of financial integration on the stability of the banking system. Financial integration allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a common interbank market. We show under which conditions financial integration

  15. The Impact of the LCR on the Interbank Money Market

    NARCIS (Netherlands)

    Bonner, C.; Eijffinger, S.C.W.

    2012-01-01

    This paper analyses the impact of the Basel 3 Liquidity Coverage Ratio (LCR) on the unsecured interbank money market and therefore on the implementation of monetary policy. Combining two unique datasets, we show that banks which are just above/below their short-term regulatory liquidity requirement

  16. The Impact of the LCR on the Interbank Money Market

    NARCIS (Netherlands)

    Bonner, C.; Eijffinger, S.C.W.

    2012-01-01

    Abstract: This paper analyses the impact of the Basel 3 Liquidity Coverage Ratio (LCR) on the unsecured interbank money market and therefore on the implementation of monetary policy. Combining two unique datasets, we show that banks which are just above/below their short-term regulatory liquidity

  17. A systematic review of financial and economic assessments of bovine viral diarrhea virus (BVDV) prevention and mitigation activities worldwide.

    Science.gov (United States)

    Pinior, Beate; Firth, Clair L; Richter, Veronika; Lebl, Karin; Trauffler, Martine; Dzieciol, Monika; Hutter, Sabine E; Burgstaller, Johann; Obritzhauser, Walter; Winter, Petra; Käsbohrer, Annemarie

    2017-02-01

    Infection with bovine viral diarrhea virus (BVDV) results in major economic losses either directly through decreased productive performance in cattle herds or indirectly, such as through expenses for control programs. The aim of this systematic review was to review financial and/or economic assessment studies of prevention and/or mitigation activities of BVDV at national, regional and farm level worldwide. Once all predefined criteria had been met, 35 articles were included for this systematic review. Studies were analyzed with particular focus on the type of financially and/or economically-assessed prevention and/or mitigation activities. Due to the wide range of possible prevention and/or mitigation activities, these activities were grouped into five categories: i) control and/or eradication programs, ii) monitoring or surveillance, iii) prevention, iv) vaccination and v) individual culling, control and testing strategies. Additionally, the studies were analyzed according to economically-related variables such as efficiency, costs or benefits of prevention and/or mitigation activities, the applied financial and/or economic and statistical methods, the payers of prevention and/or mitigation activities, the assessed production systems, and the countries for which such evaluations are available. Financial and/or economic assessments performed in Europe were dominated by those from the United Kingdom, which assessed mostly vaccination strategies, and Norway which primarily carried out assessments in the area of control and eradication programs; whereas among non-European countries the United States carried out the majority of financial and/or economic assessments in the area of individual culling, control and testing. More than half of all studies provided an efficiency calculation of prevention and/or mitigation activities and demonstrated whether the inherent costs of implemented activities were or were not justified. The dairy sector was three times more likely to

  18. Loan and nonloan flows in the Australian interbank network

    Science.gov (United States)

    Sokolov, Andrey; Webster, Rachel; Melatos, Andrew; Kieu, Tien

    2012-05-01

    High-value transactions between banks in Australia are settled in the Reserve Bank Information and Transfer System (RITS) administered by the Reserve Bank of Australia. RITS operates on a real-time gross settlement (RTGS) basis and settles payments and transfers sourced from the SWIFT payment delivery system, the Austraclear securities settlement system, and the interbank transactions entered directly into RITS. In this paper, we analyse a dataset received from the Reserve Bank of Australia that includes all interbank transactions settled in RITS on an RTGS basis during five consecutive weekdays from 19 February 2007 inclusive, a week of relatively quiescent market conditions. The source, destination, and value of each transaction are known, which allows us to separate overnight loans from other transactions (nonloans) and reconstruct monetary flows between banks for every day in our sample. We conduct a novel analysis of the flow stability and examine the connection between loan and nonloan flows. Our aim is to understand the underlying causal mechanism connecting loan and nonloan flows. We find that the imbalances in the banks' exchange settlement funds resulting from the daily flows of nonloan transactions are almost exactly counterbalanced by the flows of overnight loans. The correlation coefficient between loan and nonloan imbalances is about -0.9 on most days. Some flows that persist over two consecutive days can be highly variable, but overall the flows are moderately stable in value. The nonloan network is characterised by a large fraction of persistent flows, whereas only half of the flows persist over any two consecutive days in the loan network. Moreover, we observe an unusual degree of coherence between persistent loan flow values on Tuesday and Wednesday. We probe static topological properties of the Australian interbank network and find them consistent with those observed in other countries.

  19. Contagion in the Brazilian interbank currency exchange market: an empirical analysis

    Directory of Open Access Journals (Sweden)

    Maria Tannuri-Pianto

    2006-06-01

    Full Text Available The risk of contagion is the possibility that the failure of a financial institution affected by an exogenous shock generates the failure of other institutions not initially affected by the shock. As pointed out by Upper and Worms (2002 and others, the domino effect in the payment system depends on the precise pattern of interbank linkages. This paper studies the occurrence of financial contagion after the exogenous failure of an institution authorized to operate in the Brazilian interbank currency market. The data contain information about all the actual transactions that occurred in this market from August 1st, 2000 to October 31st, 2002. The adopted methodology shows the occurrence of contagion propagation in several subsequent rounds after the initial failure. We quantify the number of institutions that breakdown and the financial losses of the market. There is a large increase in the number of failed institutions during the period of the presidential elections in 2002.O risco de contágio é a possibilidade de que a falência de uma instituição financeira afetada por algum choque exógeno gere a falência de outras instituições não afetadas pelo choque inicialmente. Como salienta Upper e Worms (2002 e outros, o efeito dominó no sistema de pagamentos depende do padrão das interligações bancárias. Este artigo estuda a ocorrência de contágio financeiro após a falência exógena de uma instituição autorizada a operar no mercado interbancário de câmbio no Brasil. Os dados contêm informações sobre todas as transações efetivamente realizadas no período 01/08/2000 a 31/10/2002. A metodologia adotada mostra a ocorrência da propagação do contágio após várias rodadas subseqüentes à falência inicial. O artigo quantifica o número de instituições que quebrariam e as perdas financeiras do mercado. Existe um aumento substancial no número de falências durante o período pré-eleitoral em 2002.

  20. The role of banks in the Brazilian interbank market: Does bank type matter?

    Science.gov (United States)

    Cajueiro, Daniel O.; Tabak, Benjamin M.

    2008-12-01

    This paper analyzes the Brazilian interbank network structure using a complex network-based approach. Results suggest a weak evidence of community structure, high heterogeneity of the network and that this market is characterized by money centers having exposures to many banks. Furthermore, we go beyond the structure of the network using information about the characteristics of the nodes and a non-parametric test in order to understand the role of the banks in the interbanking market.

  1. Experience with Floating Interbank Exchange Rate Systems in Five Developing Economies

    OpenAIRE

    Vicente Galbis

    1993-01-01

    This paper reviews the experience with floating interbank exchange rate systems in five developing countries--The Gambia, Guyana, Jamaica, Nigeria and Sri Lanka--and draws some conclusions about the stability and efficiency of these systems. The experience of these countries illustrates both the difficulties and the advantages of interbank exchange rate markets. The main conclusion is that these markets can operate relatively well with a minimum banking infrastructure, provided that the autho...

  2. Money creation and financial instability: An agent-based credit network approach

    OpenAIRE

    Lengnick, Matthias; Krug, Sebastian; Wohltmann, Hans-Werner

    2013-01-01

    The authors develop a simple agent-based and stock flow consistent model of a monetary economy. Their model is well suited to explain money creation along the lines of mainstream theory. Additionally it uncovers a potential instability that follows from a maturity mismatch of assets and liabilities. The authors analyze the impact of interbank lending on the stability of the financial sector and find that an interbank market stabilizes the economy during normal times but amplifies systemic ins...

  3. Interbank Lending Decisions in An Economic Downturn: An Agent-Based Approach

    Directory of Open Access Journals (Sweden)

    Deddy P. Koesrindartoto

    2012-01-01

    Full Text Available Interbank lending is one mechanism that can make shock, which is accepted by one bank spread to other banks (contagion. There are several researchers that focused their research on analyzing the effect of interbank lending to systemic risk. However, there is a few research that analyzed the effect of banks’ decision maker’s behavior, especially on the bank interbank lending to the systemic risk. In this research, the author creates an agent-based  simulation of the banking system to analyze the effect of banks’ decision maker’s behavior to systemic risk in economic downturn condition. The preliminary result from this research is for an economic downturn in a long time period, the banking system with a low net worth to the asset's ratio threshold will produce more default bank than the banking system with a high net worth to the asset's ratio threshold. However, for an economic downturn in small time period, banking system which all bank in their system has the higher net worth to assets ratio threshold will have the default bank first than the banking system which has the lower net worth to the asset's ratio threshold. Keywords: agent-based simulation, banker behavior, interbank lending, economic downturn

  4. Identifying Central Bank Liquidity Super-Spreaders in Interbank Funds Networks

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Machado, C.; Sarmiento Paipilla, N.M.

    2015-01-01

    We model the allocation of central bank liquidity among the participants of the interbank market by using network analysis’ metrics. Our analytical framework considers that a super-spreader simultaneously excels at receiving (borrowing) and distributing (lending) central bank’s liquidity for the

  5. Proving the Relation between Stock and Interbank Markets: The Bahrain Stock Exchange

    OpenAIRE

    Matveev, Aleksandr

    2014-01-01

    The present paper deals with further analysis of the relationship between the interbank loan rateon the one hand and the volume of investment and the amount of stocks tradable on the stock exchange on the other hand, as corroborated by calculations performed on Bahrain Stock Exchange data.

  6. Contagion risk in endogenous financial networks

    International Nuclear Information System (INIS)

    Li, Shouwei; Sui, Xin

    2016-01-01

    Highlights: • We propose an endogenous financial network model. • Endogenous networks include interbank networks, inter-firm networks and bank-firm networks. • We investigate contagion risk in endogenous financial networks. - Abstract: In this paper, we investigate contagion risk in an endogenous financial network, which is characterized by credit relationships connecting downstream and upstream firms, interbank credit relationships and credit relationships connecting firms and banks. The findings suggest that: increasing the number of potential lenders randomly selected can lead to an increase in the number of bank bankruptcies, while the number of firm bankruptcies presents a trend of increase after the decrease; after the intensity of choice parameter rises beyond a threshold, the number of bankruptcies in three sectors (downstream firms, upstream firms and banks) shows a relatively large margin of increase, and keeps at a relatively high level; there exists different trends for bankruptcies in different sectors with the change of the parameter of credits’ interest rates.

  7. Early-warning signals of topological collapse in interbank networks

    NARCIS (Netherlands)

    Squartini, Tiziano; Van Lelyveld, Iman; Garlaschelli, Diego

    2013-01-01

    The financial crisis clearly illustrated the importance of characterizing the level of 'systemic' risk associated with an entire credit network, rather than with single institutions. However, the interplay between financial distress and topological changes is still poorly understood. Here we analyze

  8. Short-Term Liquidity Contagion in the Interbank Market

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Martínez, Constanza; Cepeda, Freddy

    2016-01-01

    We implement a modified version of DebtRank, a measure of systemic impact inspired in feedback centrality, to recursively measure the contagion effects caused by the default of a selected financial institution. In our case contagion is a liquidity issue, measured as the decrease in financial

  9. PERBANDINGAN PENGARUH INTERBANK OFERED RATE TERHADAP INDEKS SYARIAH DI INDONESIA DAN MALAYSIA

    Directory of Open Access Journals (Sweden)

    Tatang Anantatur

    2015-07-01

    Full Text Available This study aimed to determine the correlation of interbank offered rate against Islamic stock index associated with behavioral perspective of investors in the stock market of sharia in each country and to examine whether there is a significant difference between the index of sharia that are in Indonesia and Malaysia. This study uses an analytical tool that is by simple linear regression statistical test to measure the level of effect between variables partially, with a focus on the two countries, Indonesia and Malaysia in the period 2010-2012. Research outcome of the average monthly on secondary data between period 2010-2012, reveals that in Indonesia, independent variable affected significantly to Shariah index JII ( Jakarta Islamic Index , but there is a difference, compared with Malaysia that the interbank offered rate did not significantly affect KLSI (Kuala Lumpur Sharia Index.

  10. Analysis of Overnight ROBOR Interbank Interest Rate Recorded in October 2008 Using a Correlational Mathematical Model

    Directory of Open Access Journals (Sweden)

    Ramona Mariana CALINICA

    2013-08-01

    Full Text Available Information about possible manipulation of the overnight Robor interbank interest rates appeared in the press in late June 2012 when the British bank Barclays was fined for manipulating Libor. Suspicion of manipulation of interest rates has not spared Romania.The purpose of this paper is to provide mathematical support persons or authorities concerned in finding out whether the overnight ROBOR reference rates from October 2008 were the result of an agreement between banks or is a natural reaction to the difficult conditions prevailing at that time, and why not, decision support to establish a intervention policies when deviations of the interbank money market parameters, in relation to a specific goal, above a certain value.

  11. Dislocations in FX Swap and Money Markets in Hong Kong and Policy Actions during the Financial Crisis of 2008

    OpenAIRE

    Laurence Fung; Ip-wing Yu

    2009-01-01

    When US dollar interbank markets malfunctioned during the global financial crisis of 2008, many non-US financial institutions relied heavily on the foreign-exchange (FX) swap markets for US-dollar funds. This one-sided market induced a risk premium of the FX swap-implied US-dollar rate across a range of funding currencies, i.e. a deviation from the covered interest parity (CIP) condition. The turbulence in the global interbank markets therefore spilled over to the FX swap markets, including t...

  12. Banks Belonging to the Erste Group and their Sensitivity to the Confidence Crisis on the Interbank Market

    Directory of Open Access Journals (Sweden)

    Pavla Klepková Vodová

    2015-01-01

    Full Text Available The aim of this paper is to measure the sensitivity of commercial banks from the Erste Group to the confidence crisis on the interbank market and to compare their sensitivity with average sensitivity of banks in particular countries. We have used the methodology of scenario analysis for the liquid asset ratio. All banks belonging to the Erste Group should be able to withstand the confidence crisis on the interbank market. The group of the most vulnerable banks consists from Erste bank Hungary and Banca Comerciala Romana from Romania. In some cases, banks from the Erste Group are more sensitive; while in other cases are banks belonging to the Erste Group less vulnerable than corresponding banking sectors. Except of banks from Hungary, Romania and Slovakia, subsidiary banks are less sensitive to the confidence crisis than the parent bank. Banks (and banking sectors who are net borrowers on the interbank market are much more sensitive to the confidence crisis on this market.

  13. The formation of a core-periphery structure in heterogeneous financial networks

    NARCIS (Netherlands)

    van der Leij, M.; in 't Veld, D.; Hommes, C.

    2016-01-01

    Recent empirical evidence suggests that financial networks exhibit a core-periphery network structure. This paper aims at giving an explanation for the emergence of such a structure using network formation theory. We propose a simple model of the overnight interbank lending market, in which banks

  14. The U.S. Money Market and the Term Auction Facility in the Financial Crisis of 2007-–2009

    OpenAIRE

    Tao Wu

    2011-01-01

    The interbank money market in the United States and Europe became turbulent during the financial crisis of 2007-–2009, with the counterparty default risk premiums and liquidity premiums of short-term financing among major financial institutions rising sharply to unprecedented levels. Using various measures of macroeconomic and financial risks, I find that the surges in counterparty risk premiums were predominantly driven by heightened uncertainties about the macroeconomy and financial market,...

  15. Worldwide construction

    International Nuclear Information System (INIS)

    Williamson, M.

    1994-01-01

    The paper lists major construction projects in worldwide processing and pipelining, showing capacities, contractors, estimated costs, and time of construction. The lists are divided into refineries, petrochemical plants, sulfur recovery units, gas processing plants, pipelines, and related fuel facilities. This last classification includes cogeneration plants, coal liquefaction and gasification plants, biomass power plants, geothermal power plants, integrated coal gasification combined-cycle power plants, and a coal briquetting plant

  16. Strategic and financial perspectives. The worldwide nuclear industry and its markets. Which strategic trends to get out of the bottom of the cycle?

    International Nuclear Information System (INIS)

    2000-06-01

    The worldwide nuclear industry is passing through a bad period since the beginning of the 90's. The deregulation of power markets, the reserve of part of the public opinion and the competition with the other methods of power generation are the main factors that explain the lack of dynamism of the nuclear markets. In this context of uncertainty, a deep restructuring of this sector has started. The challenge that the worldwide nuclear industry has to face is enormous because the strategic trends taken today will decide of the durability of the nuclear industry. This study tries to answer the following questions: what is the stage of development of the different markets of the nuclear industry and what is their driving force? What are the perspectives of development of these markets in each geographical area? What are the strategies of the main actors? What is the profitability of nuclear industry? What are the most probable scenarios of reconfiguration? This study examines the overall segments of the nuclear industry worldwide and includes also an analysis of the behaviour and strategy of 13 major actors of this sector. (J.S.)

  17. Network centrality measures and systemic risk: An application to the Turkish financial crisis

    Science.gov (United States)

    Kuzubaş, Tolga Umut; Ömercikoğlu, Inci; Saltoğlu, Burak

    2014-07-01

    In this paper, we analyze the performance of several network centrality measures in detecting systemically important financial institutions (SIFI) using data from the Turkish Interbank market during the financial crisis in 2000. We employ various network investigation tools such as volume, transactions, links, connectivity and reciprocity to gain a clearer picture of the network topology of the interbank market. We study the main borrower role of Demirbank in the crash of the banking system with network centrality measures which are extensively used in the network theory. This ex-post analysis of the crisis shows that centrality measures perform well in identifying and monitoring systemically important financial institutions which provide useful insights for financial regulations.

  18. DEVELOPMENT OF THE MODEL OF AN AUTOMATIC GENERATION OF TOTAL AMOUNTS OF COMMISSIONS IN INTERNATIONAL INTERBANK PAYMENTS

    Directory of Open Access Journals (Sweden)

    Dmitry N. Bolotov

    2013-01-01

    Full Text Available The article deals with the main form of international payment - bank transfer and features when it is charging by banks correspondent fees for transit funds in their correspondent accounts. In order to optimize the cost of expenses for international money transfers there is a need to develop models and toolkit of automatic generation of the total amount of commissions in international interbank settlements. Accordingly, based on graph theory, approach to the construction of the model was developed.

  19. Partially Overlapping Ownership and Contagion in Financial Networks

    Directory of Open Access Journals (Sweden)

    Micah Pollak

    2017-01-01

    Full Text Available Using historical banking data for the United States from the years 2000 to 2015 we characterize the probability and extent of a financial contagion using a calibrated network model of heterogeneous interbank exposures. Both the probability and the average extent of a contagion begin to rise in 2007 prior to the US financial crisis. Including a common asset in the model increases both the probability and extent of contagion, especially during the years of the financial crisis. Based on rising institutional ownership in the banking industry, we introduce a partially overlapping ownership asset that devalues endogenously. The addition of this asset increases the extent of a financial contagion. Our results show that trends in capital buffers and the distribution and type of assets have a significant effect on the predictions of financial network contagion models and that the rising trend in ownership of banks by banks amplifies shocks to the financial system.

  20. Worldwide cloud cover model

    Science.gov (United States)

    Smith, O. E.; Sommerville, P. N.

    1979-01-01

    Classifying worldwide cloudiness into homogeneous regions, using a satellite data set containing day IR, night IR, incoming, and absorbed solar radiation measurements on a 2.5-degree latitude-longitude grid is considered. Methods of analysis are presented.

  1. Worldwide Airfield Summary

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Worldwide Airfield Summary contains a selection of climatological data produced by the U.S. Air Force, Air Weather Service. The reports were compiled from dozens...

  2. An index of financial safety of China

    Directory of Open Access Journals (Sweden)

    Xiaojun Jia

    2015-04-01

    Full Text Available Purpose: This paper combines a synthetic index system by the variables and evaluates China’s financial safety through the change of indexes in a comprehensive way. First of all, it builds the financial industry evaluation index system composed of 25indicators in terms of the operation of the financial industry and external economic environment and particularly takes into consideration factors which might trigger liquidity risks such as off-balance-sheet business, interbank business and shadow banking; then it selects 10 indicators to conduct empirical analysis and identifies the indicator weight through principal component analysis; finally it combines the financial safety indexes through the linear weighted comprehensive evaluation model.Design/methodology/approach: Synthesis of indexes is made by constructing a proper comprehensive evaluation mathematical model, integrating a number of evaluation indexes into one comprehensive evaluation index and then obtaining corresponding comprehensive evaluation results. In this paper, it selects 10 indexes to conduct empirical analysis and identifies the index weight through principal component analysis; finally it combines the financial safety indexes through the linear weighted comprehensive evaluation model. Principal component analysis (PCA is a statistical procedure that uses an orthogonal transformation to convert a set of observations of possibly correlated variables into a set of values of linearly uncorrelated variables called principal components. PCA was invented in 1901 and was later independently developed (and named by Harold Hotelling in the 1930s.Findings: From 2003 to 2013 China’s financial safety indexes fluctuated. From 2003 to 2007 indexes rose, which indicates China’s financial safety status gradually improved; from 2007 to 2009 indexes declined, which indicates due to the impact of subprime crisis, China’s financial safety status took a turn for the worse; from 2009 to 2012

  3. Nuclear energy worldwide

    International Nuclear Information System (INIS)

    Fertel, M.

    2000-01-01

    In this short paper the author provides a list of tables and charts concerning the nuclear energy worldwide, the clean air benefits of nuclear energy, the nuclear competitiveness and the public opinion. He shows that the nuclear energy has a vital role to play in satisfying global energy and environmental goals. (A.L.B)

  4. EOR increases 24% worldwide

    International Nuclear Information System (INIS)

    Moritis, G.

    1992-01-01

    Although the higher cost of enhanced oil recovery has taken its toll in projects, the Journal's worldwide EOR survey reveals that production from EOR is a significant and growing component of the world's oil production. This paper outlines hundreds of projects in 14 countries. Pilot, field wide, and planned projects are all included

  5. Worldwide epidemiology of fibromyalgia.

    Science.gov (United States)

    Queiroz, Luiz Paulo

    2013-08-01

    Studying the epidemiology of fibromyalgia (FM) is very important to understand the impact of this disorder on persons, families and society. The recent modified 2010 classification criteria of the American College of Rheumatology (ACR), without the need of tender points palpation, allows that larger and nationwide surveys may be done, worldwide. This article reviews the prevalence and incidence studies done in the general population, in several countries/continents, the prevalence of FM in special groups/settings, the association of FM with some sociodemographic characteristics of the population, and the comorbidity of FM with others disorders, especially with headaches.

  6. Worldwide nuclear power

    International Nuclear Information System (INIS)

    Royen, J.

    1981-01-01

    Worldwide nuclear power (WNP) is a companion volume to UPDATE. Our objective in the publication of WNP is to provide factual information on nuclear power programs and policies in foreign countries to U.S. policymakers in the Federal Government who are instrumental in defining the direction of nuclear power in the U.S. WNP is prepared by the Office of the Assistant Secretary for Nuclear Energy from reports obtained from foreign Embassies in Washington, U.S. Embassies overseas, foreign and domestic publications, participation in international studies, and personal communications. Domestic nuclear data is included only where its presence is needed to provide easy and immediate comparisons with foreign data

  7. Worldwide installed geothermal power

    International Nuclear Information System (INIS)

    Laplaige, P.

    1995-01-01

    Worldwide electric energy production data are easy to compile, according to the informations given by individual countries. On the contrary, thermal applications of geothermics are difficult to quantify due to the variety of applications and the number of countries concerned. Exhaustive informations sometimes cannot be obtained from huge countries (China, Russia..) because of data centralization problems or not exploitable data transmission. Therefore, installed power data for geothermal heat production are given for 26 countries over the 57 that have answered the International Geothermal Association questionnaire. (J.S.). 1 fig., 2 tabs., 1 photo

  8. Financialization and financial profit

    Directory of Open Access Journals (Sweden)

    Arturo Guillén

    2014-09-01

    Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

  9. Worldwide nuclear power

    International Nuclear Information System (INIS)

    Anon.

    1981-01-01

    Worldwide Nuclear Power (WNP) is a companion volume to Update. Our objective in the publication of WNP is to provide factual information on nuclear power programs and policies in foreign countries to U.S. policymakers in the Federal Government. Facts about the status of nuclear activities abroad should be available to those who are instrumental in defining the direction of nuclear power in the U.S. WNP is prepared by the Office of Nuclear Energy from reports obtained from foreign embassies in Washington, U.S. Embassies overseas, foreign and domestic publications, participation in international studies, and personal communications. It consists of two types of information, tabular and narrative. Domestic nuclear data is included only where its presence is needed to provide easy and immediate comparisons with foreign data. In general, complete U.S. information will be found in Update

  10. The worldwide obesity epidemic.

    Science.gov (United States)

    James, P T; Leach, R; Kalamara, E; Shayeghi, M

    2001-11-01

    The recent World Health Organization (WHO) agreement on the standardized classification of overweight and obese, based on body mass index (BMI), allows a comparable analysis of prevalence rates worldwide for the first time. In Asia, however, there is a demand for a more limited range for normal BMIs (i.e., 18.5 to 22.9 kg/m(2) rather than 18.5 to 24.9 kg/m(2)) because of the high prevalence of comorbidities, particularly diabetes and hypertension. In children, the International Obesity Task-Force age-, sex-, and BMI-specific cutoff points are increasingly being used. We are currently evaluating BMI data globally as part of a new millennium analysis of the Global Burden of Disease. WHO is analyzing data in terms of 20 or more principal risk factors contributing to the primary causes of disability and lost lives in the 191 countries within the WHO. The prevalence rates for overweight and obese people are different in each region, with the Middle East, Central and Eastern Europe, and North America having higher prevalence rates. In most countries, women show a greater BMI distribution with higher obesity rates than do men. Obesity is usually now associated with poverty, even in developing countries. Relatively new data suggest that abdominal obesity in adults, with its associated enhanced morbidity, occurs particularly in those who had lower birth weights and early childhood stunting. Waist measurements in nationally representative studies are scarce but will now be needed to estimate the full impact of the worldwide obesity epidemic.

  11. Nuclear materials transport worldwide

    International Nuclear Information System (INIS)

    Stellpflug, J.

    1987-01-01

    This Greenpeace report shows: nuclear materials transport is an extremely hazardous business. There is no safe protection against accidents, kidnapping, or sabotage. Any moment of a day, at any place, a nuclear transport accident may bring the world to disaster, releasing plutonium or radioactive fission products to the environment. Such an event is not less probable than the MCA at Chernobyl. The author of the book in hand follows the secret track of radioactive materials around the world, from uranium mines to the nuclear power plants, from reprocessing facilities to the waste repositories. He explores the routes of transport and the risks involved, he gives the names of transport firms and discloses incidents and carelessness, tells about damaged waste drums and plutonium that 'disappeared'. He also tells about worldwide, organised resistance to such nuclear transports, explaining the Greenpeace missions on the open sea, or the 'day X' operation at the Gorleben site, informing the reader about protests and actions for a world freed from the threat of nuclear energy. (orig./HP) [de

  12. Mapping Systemic Risk: Critical Degree and Failures Distribution in Financial Networks.

    Directory of Open Access Journals (Sweden)

    Matteo Smerlak

    Full Text Available The financial crisis illustrated the need for a functional understanding of systemic risk in strongly interconnected financial structures. Dynamic processes on complex networks being intrinsically difficult to model analytically, most recent studies of this problem have relied on numerical simulations. Here we report analytical results in a network model of interbank lending based on directly relevant financial parameters, such as interest rates and leverage ratios. We obtain a closed-form formula for the "critical degree" (the number of creditors per bank below which an individual shock can propagate throughout the network, and relate failures distributions to network topologies, in particular scalefree ones. Our criterion for the onset of contagion turns out to be isomorphic to the condition for cooperation to evolve on graphs and social networks, as recently formulated in evolutionary game theory. This remarkable connection supports recent calls for a methodological rapprochement between finance and ecology.

  13. Mapping Systemic Risk: Critical Degree and Failures Distribution in Financial Networks.

    Science.gov (United States)

    Smerlak, Matteo; Stoll, Brady; Gupta, Agam; Magdanz, James S

    2015-01-01

    The financial crisis illustrated the need for a functional understanding of systemic risk in strongly interconnected financial structures. Dynamic processes on complex networks being intrinsically difficult to model analytically, most recent studies of this problem have relied on numerical simulations. Here we report analytical results in a network model of interbank lending based on directly relevant financial parameters, such as interest rates and leverage ratios. We obtain a closed-form formula for the "critical degree" (the number of creditors per bank below which an individual shock can propagate throughout the network), and relate failures distributions to network topologies, in particular scalefree ones. Our criterion for the onset of contagion turns out to be isomorphic to the condition for cooperation to evolve on graphs and social networks, as recently formulated in evolutionary game theory. This remarkable connection supports recent calls for a methodological rapprochement between finance and ecology.

  14. The worldwide "wildfire" problem.

    Science.gov (United States)

    Gill, A Malcolm; Stephens, Scott L; Cary, Geoffrey J

    2013-03-01

    The worldwide "wildfire" problem is headlined by the loss of human lives and homes, but it applies generally to any adverse effects of unplanned fires, as events or regimes, on a wide range of environmental, social, and economic assets. The problem is complex and contingent, requiring continual attention to the changing circumstances of stakeholders, landscapes, and ecosystems; it occurs at a variety of temporal and spatial scales. Minimizing adverse outcomes involves controlling fires and fire regimes, increasing the resistance of assets to fires, locating or relocating assets away from the path of fires, and, as a probability of adverse impacts often remains, assisting recovery in the short-term while promoting the adaptation of societies in the long-term. There are short- and long-term aspects to each aspect of minimization. Controlling fires and fire regimes may involve fire suppression and fuel treatments such as prescribed burning or non-fire treatments but also addresses issues associated with unwanted fire starts like arson. Increasing the resistance of assets can mean addressing the design and construction materials of a house or the use of personal protective equipment. Locating or relocating assets can mean leaving an area about to be impacted by fire or choosing a suitable place to live; it can also mean the planning of land use. Assisting recovery and promoting adaptation can involve insuring assets and sharing responsibility for preparedness for an event. There is no single, simple, solution. Perverse outcomes can occur. The number of minimizing techniques used, and the breadth and depth of their application, depends on the geographic mix of asset types. Premises for policy consideration are presented.

  15. Worldwide effort against smoking.

    Science.gov (United States)

    1986-07-01

    The 39th World Health Assembly, which met in May 1986, recognized the escalating health problem of smoking-related diseases and affirmed that tobacco smoking and its use in other forms are incompatible with the attainment of "Health for All by the Year 2000." If properly implemented, antismoking campaigns can decrease the prevalence of smoking. Nations as a whole must work toward changing smoking habits, and governments must support these efforts by officially stating their stand against smoking. Over 60 countries have introduced legislation affecting smoking. The variety of policies range from adopting a health education program designed to increase peoples' awareness of its dangers to increasing taxes to deter smoking by increasing tobacco prices. Each country must adopt an antismoking campaign which works most effectively within the cultural parameters of the society. Other smoking policies include: printed warnings on cigarette packages; health messages via radio, television, mobile teams, pamphlets, health workers, clinic walls, and newspapers; prohibition of smoking in public areas and transportation; prohibition of all advertisement of cigarettes and tobacco; and the establishment of upper limits of tar and nicotine content in cigarettes. The tobacco industry spends about $2000 million annually on worldwide advertising. According to the World Health Organization (WHO), controlling this overabundance of tobacco advertisements is a major priority in preventing the spread of smoking. Cigarette and tobacco advertising can be controlled to varying degrees, e.g., over a dozen countries have enacted a total ban on advertising on television or radio, a mandatory health warning must accompany advertisements in other countries, and tobacco companies often are prohibited from sponsoring sports events. Imposing a substantial tax on cigarettes is one of the most effective means to deter smoking. However, raising taxes and banning advertisements is not enough because

  16. Worldwide developments in uranium

    International Nuclear Information System (INIS)

    Hoellen, E.E.

    1987-01-01

    World uranium production will continue to change in most major producing nations. Canadian production will increase and will be increasingly dominated by western producers as eastern Canadian high-cost production declines. Australian production will increase as major projects come into operation before 2000. US production will stabilize through the end of the century. South African production will be dependent upon the worldwide support for economic sanctions. China's entry into the world market injects yet another variable into the already cloudy supply picture. Many risks and uncertainties will face uranium producers through the 1980s. Recognizing that the uranium industry is not a fast-growing market, many existing and potential producers are seeking alternate investment courses, causing a restructuring of the world uranium production industry in ways not anticipated even a few years ago. During the restructuring process, world uranium production will most likely continue to exceed uranium consumption, resulting in a further buildup of world uranium inventories. Inventory sales will continue to redistribute this material. As inventory selling runs its course, users will turn to normal sources of supply, stimulating additional production to meet needs. Stimulation in the form of higher prices will be determined by how fast producers are willing and able to return to the market. Production costs are expected to have an increasing impact as it has become apparent that uranium resources are large in comparison to projected consumption. Conversely, security-of-supply issues have seemed to be of decreasing magnitude as Canada, Australia, and other non-US producers continue to meet delivery commitments

  17. Financial history and financial economics

    OpenAIRE

    Turner, John D.

    2014-01-01

    This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...

  18. Reconciling Global Financial Reporting With Domestic Taxation

    OpenAIRE

    Bokulic, Caitlin; Henry, Erin; Plesko, George A.

    2012-01-01

    This paper presents a new reconciliation of financial to taxable income, drawing from public financial statement and Schedule M-3 data for a panel of firms. The reconciliation compares the financial statement income of a firm’s consolidated financial statement entities to the financial statement income of a firm’s tax return entities on a worldwide, domestic, and foreign income basis. This analysis highlights the relation between these various measures of corporate income to better understand...

  19. Dynamic bifurcations on financial markets

    International Nuclear Information System (INIS)

    Kozłowska, M.; Denys, M.; Wiliński, M.; Link, G.; Gubiec, T.; Werner, T.R.; Kutner, R.; Struzik, Z.R.

    2016-01-01

    We provide evidence that catastrophic bifurcation breakdowns or transitions, preceded by early warning signs such as flickering phenomena, are present on notoriously unpredictable financial markets. For this we construct robust indicators of catastrophic dynamical slowing down and apply these to identify hallmarks of dynamical catastrophic bifurcation transitions. This is done using daily closing index records for the representative examples of financial markets of small and mid to large capitalisations experiencing a speculative bubble induced by the worldwide financial crisis of 2007-08.

  20. Evaluating the Financial Stability of Banking System, Considering the Emergence Property

    Directory of Open Access Journals (Sweden)

    Lesik Vitaliy O.

    2017-03-01

    Full Text Available The article is concerned with analyzing the existing approaches to evaluation of the financial stability of banking system, substantiating the expedience of accounting, and generalizing the characteristics of the emergence property to determine its level. The article considers the interrelation of concepts of «financial stability» and «financial sustainability», the necessity of their correlation, taking account of the time factor, has been substantiated. A critical analysis of the approaches to evaluating the financial stability of banking system has been carried out, their eligibility according to the criteria of accounting of the identification attributes of systemacity and the analytical data aggregation has been examined. To determine the status of banking system as a system phenomenon, the necessity of carrying out an evaluation of its financial stability on the basis of the emergence approach has been substantiated, including the following directions: intensity of credit and financial interaction in the interbank market; functional load of the banking system as to ensuring the macroeconomic development; structural changes and financial disparities in the banking system; scale effects that arise as a consequence of change in the main financial parameters of the system banks.

  1. DEVELOPMENT OF WOOD-BASED PRODUCTS WORLDWIDE

    Directory of Open Access Journals (Sweden)

    Marius C. BARBU

    2015-12-01

    Full Text Available The tendency in recent decades for manufacturing plants of semi-finished products such as composite panels, has been to invest in order to achieve high production capacities (>2,000 m³/day for panels and >3,000 t/day for paper with one line. The trend of concentrating the primary processing capacities and manufacturing wood-based panels will continue for the next few years not only in Europe but in North and South America as well. The ten largest panel manufacturers had a combined manufacturing capacity that exceeded a third of the worldwide production capacity. The financial crisis that started in 2008 has caused the closure of a large number of factories especially in North America and Central Europe. Small- and medium-sized producers will only survive if they will continue to specialize in the manufacture of panel types and sizes (niche products that are “unprofitable” for mega-groups. The installed production capacity worldwide of all wood-based composite panels combined (includes PY, PB, MDF, OSB rose by more than 2.5 times between 1980 and 2005 (225 mil.m³, and continues to increase despite the crises reaching approx. 300 mil.m³ in 2013. The forecast for the coming years varies greatly from continent to continent. In North America and Central Europe, both a consolidation of the available production capacities and the closure of less efficient older lines are expected. The lowest point of the effect of the financial crisis on the building industry seems to have been overcome. The furniture production companies will continue to move from one continent and region to another.

  2. World-wide environmental problems

    International Nuclear Information System (INIS)

    Wohlers, H.C.

    1975-01-01

    Man and the physical and natural resources necessary to support him in a civilized society are on a collision course. It is simple to say that man cannot continue to grow in number at an ever-increasing rate without a destructive effect upon the environment. Positive scientific proof for this impending calamity is not now available, yet many indications--sometimes physical and sometimes natural--point toward major world-wide environmental troubles in the near future. A number of environmental problems are described, particularly as they relate to the total world system. A computer model simulating future world-wide environmental trends from 1900 to 2100 A.D. is evaluated and suggested as a major tool for data-gathering purposes to determine the extent of world-wide environmental problems. It is suggested that scientists take an active role in the study of the environment, particularly in relation to man's future on earth

  3. Aging Education: A Worldwide Imperative

    Science.gov (United States)

    McGuire, Sandra L.

    2017-01-01

    Life expectancy is increasing worldwide. Unfortunately, people are generally not prepared for this long life ahead and have ageist attitudes that inhibit maximizing the "longevity dividend" they have been given. Aging education can prepare people for life's later years and combat ageism. It can reimage aging as a time of continued…

  4. Tube problems: worldwide statistics reviewed

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    EPRI's Steam Generator Strategic Management Project issues an annual report on the progress being made in tackling steam generator problems worldwide, containing a wealth of detailed statistics on the status of operating units and degradation mechanisms encountered. A few highlights are presented from the latest report, issued in October 1993, which covers the period to 31 December 1992. (Author)

  5. Worldwide exposures to ionizing radiation

    International Nuclear Information System (INIS)

    Bennett, B.G.

    1993-01-01

    All of mankind is exposed to ionizing radiation from natural sources, from human practices that release natural and artificial radionuclides to the environment, and from medical radiation procedures. This paper reviews the assessment in the UNSCEAR 1993 Report of the exposures of human populations worldwide to the various sources of ionizing radiation

  6. Elecnuc. Nuclear power plants worldwide

    International Nuclear Information System (INIS)

    1998-01-01

    This small folder presents a digest of some useful information concerning the nuclear power plants worldwide and the situation of nuclear industry at the end of 1997: power production of nuclear origin, distribution of reactor types, number of installed units, evolution and prediction of reactor orders, connections to the grid and decommissioning, worldwide development of nuclear power, evolution of power production of nuclear origin, the installed power per reactor type, market shares and exports of the main nuclear engineering companies, power plants constructions and orders situation, evolution of reactors performances during the last 10 years, know-how and development of nuclear safety, the remarkable facts of 1997, the future of nuclear power and the energy policy trends. (J.S.)

  7. Worldwide reprocessing supply and demand

    International Nuclear Information System (INIS)

    Pinto, S.

    1987-01-01

    The aim of this paper is to broadly examine the current situation in the LWR fuel reprocessing services market on a worldwide basis through 2010. The main factors influencing this market (nuclear programs, fuel discharges, reprocessing capacities, buyer philosophies, etc.) are identified in the paper and the most important are highlighted and discussed in more detail. Emphasis has been placed on the situation with respect to reprocessing in those countries having a significant influence on the reprocessing market

  8. Financial Statements

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

    Financial Statements and accompanying notes provided on .... to good governance principles. there is the risk that ...... responsibilities of the centre's internal auditor includes reviewing internal controls, including accounting and financial.

  9. Worldwide satellite market demand forecast

    Science.gov (United States)

    Bowyer, J. M.; Frankfort, M.; Steinnagel, K. M.

    1981-01-01

    The forecast is for the years 1981 - 2000 with benchmark years at 1985, 1990 and 2000. Two typs of markets are considered for this study: Hardware (worldwide total) - satellites, earth stations and control facilities (includes replacements and spares); and non-hardware (addressable by U.S. industry) - planning, launch, turnkey systems and operations. These markets were examined for the INTELSAT System (international systems and domestic and regional systems using leased transponders) and domestic and regional systems. Forecasts were determined for six worldwide regions encompassing 185 countries using actual costs for existing equipment and engineering estimates of costs for advanced systems. Most likely (conservative growth rate estimates) and optimistic (mid range growth rate estimates) scenarios were employed for arriving at the forecasts which are presented in constant 1980 U.S. dollars. The worldwide satellite market demand forecast predicts that the market between 181 and 2000 will range from $35 to $50 billion. Approximately one-half of the world market, $16 to $20 billion, will be generated in the United States.

  10. Financial Derivatives

    OpenAIRE

    Janečková, Alena

    2011-01-01

    1 Abstract/ Financial derivatives The purpose of this thesis is to provide an introduction to financial derivatives which has been, from the legal perspective, described in a not satisfactory manner as quite little literature that can be found about this topic. The main objectives of this thesis are to define the term "financial derivatives" and its particular types and to analyse legal nature of these financial instruments. The last objective is to try to draft future law regulation of finan...

  11. Reconstruction of financial networks for robust estimation of systemic risk

    International Nuclear Information System (INIS)

    Mastromatteo, Iacopo; Zarinelli, Elia; Marsili, Matteo

    2012-01-01

    In this paper we estimate the propagation of liquidity shocks through interbank markets when the information about the underlying credit network is incomplete. We show that techniques such as maximum entropy currently used to reconstruct credit networks severely underestimate the risk of contagion by assuming a trivial (fully connected) topology, a type of network structure which can be very different from the one empirically observed. We propose an efficient message-passing algorithm to explore the space of possible network structures and show that a correct estimation of the network degree of connectedness leads to more reliable estimations for systemic risk. Such an algorithm is also able to produce maximally fragile structures, providing a practical upper bound for the risk of contagion when the actual network structure is unknown. We test our algorithm on ensembles of synthetic data encoding some features of real financial networks (sparsity and heterogeneity), finding that more accurate estimations of risk can be achieved. Finally we find that this algorithm can be used to control the amount of information that regulators need to require from banks in order to sufficiently constrain the reconstruction of financial networks

  12. Reconstruction of financial networks for robust estimation of systemic risk

    Science.gov (United States)

    Mastromatteo, Iacopo; Zarinelli, Elia; Marsili, Matteo

    2012-03-01

    In this paper we estimate the propagation of liquidity shocks through interbank markets when the information about the underlying credit network is incomplete. We show that techniques such as maximum entropy currently used to reconstruct credit networks severely underestimate the risk of contagion by assuming a trivial (fully connected) topology, a type of network structure which can be very different from the one empirically observed. We propose an efficient message-passing algorithm to explore the space of possible network structures and show that a correct estimation of the network degree of connectedness leads to more reliable estimations for systemic risk. Such an algorithm is also able to produce maximally fragile structures, providing a practical upper bound for the risk of contagion when the actual network structure is unknown. We test our algorithm on ensembles of synthetic data encoding some features of real financial networks (sparsity and heterogeneity), finding that more accurate estimations of risk can be achieved. Finally we find that this algorithm can be used to control the amount of information that regulators need to require from banks in order to sufficiently constrain the reconstruction of financial networks.

  13. The incidence of abortion worldwide.

    Science.gov (United States)

    Henshaw, S K; Singh, S; Haas, T

    1999-01-01

    Accurate measurement of induced abortion levels has proven difficult in many parts of the world. Health care workers and policymakers need information on the incidence of both legal and illegal induced abortion to provide the needed services and to reduce the negative impact of unsafe abortion on women's health. Numbers and rates of induced abortions were estimated from four sources: official statistics or other national data on legal abortions in 57 countries; estimates based on population surveys for two countries without official statistics; special studies for 10 countries where abortion is highly restricted; and worldwide and regional estimates of unsafe abortion from the World Health Organization. Approximately 26 million legal and 20 million illegal abortions were performed worldwide in 1995, resulting in a worldwide abortion rate of 35 per 1,000 women aged 15-44. Among the subregions of the world, Eastern Europe had the highest abortion rate (90 per 1,000) and Western Europe to the lowest rate (11 per 1,000). Among countries where abortion is legal without restriction as to reason, the highest abortion rate, 83 per 1,000, was reported for Vietnam and the lowest, seven per 1,000, for Belgium and the Netherlands. Abortion rates are no lower overall in areas where abortion is generally restricted by law (and where many abortions are performed under unsafe conditions) than in areas where abortion is legally permitted. Both developed and developing countries can have low abortion rates. Most countries, however, have moderate to high abortion rates, reflecting lower prevalence and effectiveness of contraceptive use. Stringent legal restrictions do not guarantee a low abortion rate.

  14. Financial Literacy and Financial Behaviour

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert

    2016-01-01

    We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the

  15. Worldwide Warehouse: A Customer Perspective

    Science.gov (United States)

    1994-09-01

    Management Office (PMO) and the customers (returnees and buyers) 23 will be developed or adapted from existing software programs. The hardware could be... customer requirements and desires is the first aspect to be approached. Sections 4.7 to 4.11 were dedicated to inivestigate those relationships and...R x NTIS CRA&I DTIC TAB WORLDWIDE WAREHOUSE: Ju’a-noj1c0[ed 0 A CUSTOMER PERSPECTIVE J-f-c-.tion .......... THESIS By D i s ib , tio

  16. Pace studying worldwide coke production

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    Pace Consultants Inc., Houston, has started a multiclient study of world-wide petroleum coke production, examining environmental initiatives and eventually forecasting prices of fuel grade coke. Pace expects coker expansions, increased operating severity, and reduced cycle times to boost coke supply to more than 50 million metric tons/year in 2000, compared with 39.7 million metric tons in 1992. Increased supply and tightened environmental rules in countries consuming large amounts of petroleum coke will be the main factors affecting coke markets. The paper discusses coke quality and the Japanese market

  17. Compare and contrast structures worldwide

    International Nuclear Information System (INIS)

    Anderson, K.

    1998-01-01

    An corporate overview of Cooper and Lybrand was provided. The company has some 70,000 professional employees deployed in some 100 countries. The Canadian branch of the company alone has 26 office, 275 partners and some 2,500 employees. The Canadian firm specializes in the following services to the electric utility sector: (1) business assurance, (2) market design, (3) financial advisory, (4) project management, and (5) information technology. A detailed review of power pools and market structures in Australia, Brazil, the United States (California), and the United Kingdom were also presented, emphasizing the special circumstances, constraints and opportunities in each individual case

  18. Worldwide spent fuel transportation logistics

    International Nuclear Information System (INIS)

    Best, R.E.; Garrison, R.F.

    1978-01-01

    This paper presents an overview of the worldwide transportation requirements for spent fuel. Included are estimates of numbers and types of shipments by mode and cask type for 1985 and the year 2000. In addition, projected capital and transportation costs are presented. For the year 1977 and prior years inclusive, there is a cumulative worldwide requirement for approximately 300 MTU of spent fuel storage at away-from-reactor (AFR) facilities. The cumulative requirements for years through 1985 are projected to be nearly 10,000 MTU, and for the years through 2000 the requirements are conservatively expected to exceed 60,000 MTU. These AFR requirements may be related directly to spent fuel transportation requirements. In total nearly 77,000 total cask shipments of spent fuel will be required between 1977 and 2000. These shipments will include truck, rail, and intermodal moves with many ocean and coastal water shipments. A limited number of shipments by air may also occur. The US fraction of these is expected to include 39,000 truck shipments and 14,000 rail shipments. European shipments to regional facilities are expected to be primarily by rail or water mode and are projected to account for 16,000 moves. Pacific basin shipments will account for 4500 moves. The remaining are from other regions. Over 400 casks will be needed to meet the transportation demands. Capital investment is expected to reach $800,000,000 in 1977 dollars. Cumulative transport costs will be a staggering $4.4 billion dollars

  19. Worldwide Market For Scientific Lasers

    Science.gov (United States)

    Westra, Sicco

    1989-06-01

    I'm going to talk about the worldwide market for scientific lasers. I felt we should start with a quote from our soon-to-be President and learn from him how he feels about the commitment that the government should make to R&D. "R&D is the economic Fountain of Youth, and we really should take good care of it because that is where our business is for the future." If you read through that quote, it is very clear that at least before the election, he made a very strong commitment to this. It will be interesting to see over the next four years whether he keeps to that commitment or not, but I happen to totally agree with what he is saying here. The R&D market, as I see it, is certainly, as far as lasers are concerned, the growth place for new technology and applications.

  20. Worldwide distribution of Waardenburg syndrome.

    Science.gov (United States)

    Nayak, Chetan S; Isaacson, Glenn

    2003-09-01

    To clarify the multiracial occurrence of Waardenburg syndrome, we present a case series and literature review. A computerized review of the English-language literature was conducted to assess the distribution of reported occurrences of Waardenburg syndrome in populations around the world. We detail the clinical features of 2 family cohorts: one of Western European origin and the other from South Asia. A computerized literature review found sporadic cases of the syndrome in many ethnic groups, including Japanese, Taiwanese, and Middle Eastern families. The highest reported incidence is among Kenyan Africans. Waardenburg syndrome accounts for between 2% and 5% of cases of congenital deafness. It was first described in Northern European cohorts and is widely identified in fair-skinned populations. We hope to raise awareness of the worldwide distribution of this important cause of hearing loss.

  1. Worldwide molecular epidemiology of HIV

    Directory of Open Access Journals (Sweden)

    Henry I Z Requejo

    2006-04-01

    Full Text Available Human immunodeficiency virus (HIV is the worldwide disseminated causative agent of acquired immunodeficiency syndrome (AIDS. HIV is a member of the Lentivirus genus of Retroviridae family and is grouped in two types named HIV-1 and HIV-2. These viruses have a notable ability to mutate and adapt to the new conditions of human environment. A large incidence of errors at the transcriptional level results in changes on the genetic bases during the reproductive cycle. The elevated genomic variability of HIV has carried important implications for the diagnosis, treatment and prevention as well as epidemiologic investigations. The present review describes important definitions and geographical distribution of subtypes, circulating recombinant forms and other genomic variations of HIV. The present study aimed at leading students of Biomedical Sciences and public health laboratory staff guidance to general and specific knowledge about the genomic variability of the HIV.

  2. Wood-burning stoves worldwide

    DEFF Research Database (Denmark)

    Luis Teles de Carvalho, Ricardo

    global environmental health risk, since these sources are important contributors to fine particulate matter (PM2.5) in the ambient air that increase climate and health risks. This thesis explores the social-technical dimensions of both the use of wood-burning stoves (WBSs) and transition to the use......More than any time in our history, the wood-burning stove continues to be the most popular technology used for cooking and heating worldwide. According to the World Health Organization and recent scientific studies, the inefficient use of solid-fuels in traditional stoves constitutes the major...... systems, improved efficient retrofits and advanced stove innovations. In chapter 3, four popular wood-burning practices found in five countries were singled-out to be examined closely in four case studies: “cooking in Brazil”, “cooking and heating in Peru”, “heating in Portugal” and “recreational heat...

  3. Financial mathematics

    CERN Document Server

    Jothi, A Lenin

    2009-01-01

    Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m

  4. Worldwide Research, Worldwide Participation: Web-Based Test Logger

    Science.gov (United States)

    Clark, David A.

    1998-01-01

    Thanks to the World Wide Web, a new paradigm has been born. ESCORT (steady state data system) facilities can now be configured to use a Web-based test logger, enabling worldwide participation in tests. NASA Lewis Research Center's new Web-based test logger for ESCORT automatically writes selected test and facility parameters to a browser and allows researchers to insert comments. All data can be viewed in real time via Internet connections, so anyone with a Web browser and the correct URL (universal resource locator, or Web address) can interactively participate. As the test proceeds and ESCORT data are taken, Web browsers connected to the logger are updated automatically. The use of this logger has demonstrated several benefits. First, researchers are free from manual data entry and are able to focus more on the tests. Second, research logs can be printed in report format immediately after (or during) a test. And finally, all test information is readily available to an international public.

  5. Financial Liberalization and Financial Fragility

    OpenAIRE

    Enrica Detragiache; Asli Demirgüç-Kunt

    1998-01-01

    The authors study the empirical relationship between banking crises and financial liberalization using a panel of data for 53 countries for 1980-95. They find that banking crises are more likely to occur in liberalized financial systems. But financial liberalization's impact on a fragile banking sector is weaker where the institutional environment is strong--especially where there is respect for the rule of law, a low level of corruption, and good contract enforcement. They examine evidence o...

  6. Financial Statements

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

    users make on the basis of the financial information. .... IDRC's brand and reputation could impact partner- .... building and to provide internal services in support of the ...... maintains books of accounts, information systems, and financial and management controls that .... The significant accounting policies of the Centre are: a.

  7. Application of electron accelerator worldwide

    International Nuclear Information System (INIS)

    Machi, Sueo

    2003-01-01

    Electron accelerator is an important radiation source for radiation technology, which covers broad fields such as industry, health care, food and environmental protection. There are about 1,000 electron accelerators for radiation processing worldwide. Electron accelerator has advantage over Co-60 irradiator in term of high dose rate and power, assurance of safety, and higher economic performance at larger volume of irradiation. Accelerator generating higher energy in the range of 10 MeV and high power electron beam is now commercially available. There is a trend to use high-energy electron accelerator replacing Co-60 in case of large through-put of medical products. Irradiated foods, in particular species, are on the commercial market in 35 countries. Electron accelerator is used efficiently and economically for production of new or modified polymeric materials through radiation-induced cross-linking, grafting and polymerization reaction. Another important application of electron beam is the curing of surface coatings in the manufacture of products. Electron accelerators of large capacity are used for cleaning exhaust gases in industrial scale. Economic feasibility studies of this electron beam process have shown that this technology is more cost effective than the conventional process. It should be noted that the conventional limestone process produce gypsum as a by-product, which cannot be used in some countries. By contrast, the by-product of the electron beam process is a valuable fertilizer. (Y. Tanaka)

  8. Application of electron accelerator worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Machi, Sueo [Japan Atomic Industrial Forum, Inc., Tokyo (Japan)

    2003-02-01

    Electron accelerator is an important radiation source for radiation technology, which covers broad fields such as industry, health care, food and environmental protection. There are about 1,000 electron accelerators for radiation processing worldwide. Electron accelerator has advantage over Co-60 irradiator in term of high dose rate and power, assurance of safety, and higher economic performance at larger volume of irradiation. Accelerator generating higher energy in the range of 10 MeV and high power electron beam is now commercially available. There is a trend to use high-energy electron accelerator replacing Co-60 in case of large through-put of medical products. Irradiated foods, in particular species, are on the commercial market in 35 countries. Electron accelerator is used efficiently and economically for production of new or modified polymeric materials through radiation-induced cross-linking, grafting and polymerization reaction. Another important application of electron beam is the curing of surface coatings in the manufacture of products. Electron accelerators of large capacity are used for cleaning exhaust gases in industrial scale. Economic feasibility studies of this electron beam process have shown that this technology is more cost effective than the conventional process. It should be noted that the conventional limestone process produce gypsum as a by-product, which cannot be used in some countries. By contrast, the by-product of the electron beam process is a valuable fertilizer. (Y. Tanaka)

  9. Euthanasia and related practices worldwide.

    Science.gov (United States)

    Kelleher, M J; Chambers, D; Corcoran, P; Keeley, H S; Williamson, E

    1998-01-01

    The present paper examines the occurrence of matters relating to the ending of life, including active euthanasia, which is, technically speaking, illegal worldwide. Interest in this most controversial area is drawn from many varied sources, from legal and medical practitioners to religious and moral ethicists. In some countries, public interest has been mobilized into organizations that attempt to influence legislation relating to euthanasia. Despite the obvious international importance of euthanasia, very little is known about the extent of its practice, whether passive or active, voluntary or involuntary. This examination is based on questionnaires completed by 49 national representatives of the International Association for Suicide Prevention (IASP), dealing with legal and religious aspects of euthanasia and physician-assisted suicide, as well as suicide. A dichotomy between the law and medical practices relating to the end of life was uncovered by the results of the survey. In 12 of the 49 countries active euthanasia is said to occur while a general acceptance of passive euthanasia was reported to be widespread. Clearly, definition is crucial in making the distinction between active and passive euthanasia; otherwise, the entire concept may become distorted, and legal acceptance may become more widespread with the effect of broadening the category of individuals to whom euthanasia becomes an available option. The "slippery slope" argument is briefly considered.

  10. Worldwide Spacecraft Crew Hatch History

    Science.gov (United States)

    Johnson, Gary

    2009-01-01

    The JSC Flight Safety Office has developed this compilation of historical information on spacecraft crew hatches to assist the Safety Tech Authority in the evaluation and analysis of worldwide spacecraft crew hatch design and performance. The document is prepared by SAIC s Gary Johnson, former NASA JSC S&MA Associate Director for Technical. Mr. Johnson s previous experience brings expert knowledge to assess the relevancy of data presented. He has experience with six (6) of the NASA spacecraft programs that are covered in this document: Apollo; Skylab; Apollo Soyuz Test Project (ASTP), Space Shuttle, ISS and the Shuttle/Mir Program. Mr. Johnson is also intimately familiar with the JSC Design and Procedures Standard, JPR 8080.5, having been one of its original developers. The observations and findings are presented first by country and organized within each country section by program in chronological order of emergence. A host of reference sources used to augment the personal observations and comments of the author are named within the text and/or listed in the reference section of this document. Careful attention to the selection and inclusion of photos, drawings and diagrams is used to give visual association and clarity to the topic areas examined.

  11. The worldwide ionospheric data base

    Science.gov (United States)

    Bilitza, Dieter

    1989-01-01

    The worldwide ionospheric data base is scattered over the entire globe. Different data sets are held at different institutions in the U.S., U.S.S.R., Australia, Europe, and Asia. The World Data Centers on the different continents archive and distribute part of the huge data base; the scope and cross section of the individual data holdings depend on the regional and special interest of the center. An attempt is made to pull together all the strings that point toward different ionospheric data holdings. Requesters are provided with the information about what is available and where to get it. An attempt is also made to evaluate the reliability and compatibility of the different data sets based on the consensus in the ionospheric research community. The status and accuracy of the standard ionospheric models are also discussed because they may facilitate first order assessment of ionospheric effects. This is a first step toward an ionospheric data directory within the framework of NSSDC's master directory.

  12. The worldwide ionospheric data base

    International Nuclear Information System (INIS)

    Bilitza, D.

    1989-04-01

    The worldwide ionospheric data base is scattered over the entire globe. Different data sets are held at different institutions in the U.S., U.S.S.R., Australia, Europe, and Asia. The World Data Centers on the different continents archive and distribute part of the huge data base; the scope and cross section of the individual data holdings depend on the regional and special interest of the center. An attempt is made to pull together all the strings that point toward different ionospheric data holdings. Requesters are provided with the information about what is available and where to get it. An attempt is also made to evaluate the reliability and compatibility of the different data sets based on the consensus in the ionospheric research community. The status and accuracy of the standard ionospheric models are also discussed because they may facilitate first order assessment of ionospheric effects. This is a first step toward an ionospheric data directory within the framework of NSSDC's master directory

  13. Worldwide status of HTR development

    International Nuclear Information System (INIS)

    1978-06-01

    The International Atomic Energy Agency convened a technical committee meeting on high temperature reactors (HTRs) from 12-14 Dec. 1977 at Agency Headquarters to provide a forum for the exchange of information on the status of HTR development programmes and to receive advice on the Agency programme in this field. The continuing high level of international interest in HTRs was evidenced by the participation from 11 countries and 2 organizations: Austria, Belgium, France, Federal Republic of Germany, Japan, Netherlands, Poland, Switzerland, Union of Soviet Socialist Republics, United Kingdom of Great Britain, United States of America, Commission of the European Communities, and the OECD Nuclear Energy Agency. In order to promote the continuing exchange of technical information through the offices of the IAEA, a recommendation was made that the Agency establish a standing International Working Group on High Temperature Reactors (IWGHTR). This recommendation is being implemented in 1978. Considerable information on recent progress in HTR development was present at the technical committee meeting in technical reports and in progress reports on HTR development programmes. Since this material will not be published, this summary report on the worldwide status of HTR development at the beginning of 1978 has been prepared, based primarily on information presented at the December 1977 meeting

  14. Worldwide potential of wind energy

    Energy Technology Data Exchange (ETDEWEB)

    Flavin, C

    1982-01-01

    A well-documented discussion is presented dealing with the worldwide potential of wind energy as a source of electrical and mechanical power. It is pointed out that 2% of the solar insolation is converted to wind kinetic energy; it is constantly renewed and nondepletable. Efficiency of windmills are discussed (20 to 40%) and payback periods of less than 5 years are cited. Effects of wind velocity and site location are described. Wind pumps are reviewed and the need for wind pumps, particularly in the developing countries is stressed. The generation of electricity by windmills using small turbines is reviewed and appears promising in areas with wind velocities greater than 12 mi/hr. The development of large windmills and groups of windmills (windfarms) for large scale electrical power is discussed, illustrated, and reviewed (offshore sites included). Environmental and safety problems are considered as well as the role of electrical utilities, government support and research activities. It is concluded that the potential contribution of wind energy is immense and that mechanical windmills may become one of the most important renewable technologies. Electrical generating potential is estimated at 20 to 30% of electrical needs. International programs are discussed briefly. 57 references. (MJJ)

  15. Perspective on worldwide nuclear developments

    International Nuclear Information System (INIS)

    Doub, W.O.; Muntzing, L.M.

    1976-01-01

    While this article centers on discussing the world need for energy, reviewing some of the problems that are being encountered in meeting that demand, and making some recommendations, the overriding point is that much depends upon America's own internal policies. Most of the nuclear technology-recipient nations are the less-developed countries, and just meeting present needs is forcing them to financial limits in terms of attracting external financing. Meanwhile, the dollar dimensions of ''going nuclear'' are increasing and the fact that it can take eight to ten years before a nuclear plant begins paying out threatens to take proposals for external financing ''off the market.'' There must be direct government support of nuclear plant proposals in recipient nations. There is a parallel need for institutions--such as the United States' own Export-Import Bank--to come up with policies specifically geared to nuclear needs. Both actions should receive support because building those plants is of national importance, both to the exporter and the recipient. In the view of those involved in such financing, there is no doubt the global money markets can meet the demand, but the allocation process needs tailoring to the specific nuclear situation. The export of nuclear power, in a properly competitive atmosphere that does not encourage reduction of protective features and that effectively controls the risks of nuclear power, is one of the most feasible means by which the U.S. can help mankind toward an improved world society

  16. Financial Literacy, Financial Education, and Economic Outcomes

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2013-01-01

    In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  17. The performance trends of nuclear power plants worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Glorian, D. [Electricite de France (EDF), 93 - Saint-Denis (France)

    2001-07-01

    Looking back to the worldwide operating experience feedback, which performance trends and conclusions could be drawn up? What is the specific situation of the French nuclear units, in comparison with the average worldwide performance? The performance of a unit or group of facilities is measured not only in technical terms (safety, availability, load control capability), but also from an economic and financial standpoint (operating and maintenance costs, fuel costs, etc). Performance in terms of radiological protection and on-the-job safety, as well as environmental protection, is also monitored in order to give the broadest possible overview of nuclear power plant performance. The main technical results are presented on the basis of selected performance indicators. The results obtained by French units are benchmarked against those of other PWR facilities in operation around the world, in accordance with comparisons made by the World Association of Nuclear Operators (WANO). (author)

  18. The performance trends of nuclear power plants worldwide

    International Nuclear Information System (INIS)

    Glorian, D.

    2001-01-01

    Looking back to the worldwide operating experience feedback, which performance trends and conclusions could be drawn up? What is the specific situation of the French nuclear units, in comparison with the average worldwide performance? The performance of a unit or group of facilities is measured not only in technical terms (safety, availability, load control capability), but also from an economic and financial standpoint (operating and maintenance costs, fuel costs, etc). Performance in terms of radiological protection and on-the-job safety, as well as environmental protection, is also monitored in order to give the broadest possible overview of nuclear power plant performance. The main technical results are presented on the basis of selected performance indicators. The results obtained by French units are benchmarked against those of other PWR facilities in operation around the world, in accordance with comparisons made by the World Association of Nuclear Operators (WANO). (author)

  19. Introduction: Training in reproductive endocrinology and infertility: meeting worldwide needs.

    Science.gov (United States)

    de Ziegler, Dominique; Meldrum, David R

    2015-07-01

    Training in reproductive endocrinology (REI) and its male variant, andrology, has been profoundly influenced by the central role captured by assisted reproductive technologies (ART). The marked differences in financial, regulatory, and societal/ethical restrictions on ART in different countries of the world also prominently influence the clinical management of infertility. Training should strive for comprehensive teaching of all medically indicated procedures, even if only to optimize cross-border care. Better international standardization of infertility practices and training would benefit worldwide infertility care and should be promoted by international societies. Copyright © 2015. Published by Elsevier Inc.

  20. Regulatory Competition in Global Financial Markets

    DEFF Research Database (Denmark)

    Ringe, Georg

    2016-01-01

    Regulatory arbitrage in financial markets refers to a number of strategies that market participants use to avoid the reach of regulation, in particular by virtue of moving trading abroad or relocating activities or operations of financial institutions to other jurisdictions. Where this happens...... institutions' excessive risk-taking. If such risk-taking would be judged by market discipline instead of posing a risk to global financial stability, the main downside of regulatory competition could be restrained. Within the boundaries of such a system, competition could then operate and contribute...... their standards solely to attract business and thereby impose externalities on the worldwide financial market by undermining financial stability as a global public good. Policymakers worldwide are experimenting with remedies to respond to the phenomenon. I introduce the importance of an effective special...

  1. Arbitrage and Competition in Global Financial Regulation

    DEFF Research Database (Denmark)

    Ringe, Wolf-Georg

    Regulatory arbitrage in financial markets refers to a number of strategies that market participants use to avoid the reach of regulation, in particular by virtue of shifting trading abroad or else relocating activities or operations of financial institutions to other jurisdictions. Where...... institutions’ excessive risk-taking. If such risk-taking would be judged by market discipline instead of posing a risk to global financial stability, the main downside of regulatory competition could be restrained. Within the boundaries of such a system, competition could then operate and contribute...... their standards solely to attract businesses and thereby impose externalities on the worldwide financial market by undermining financial stability as a global public good. Policymakers worldwide are experimenting with remedies to respond to the phenomenon. I introduce the importance of an effective special...

  2. Financial assurances

    International Nuclear Information System (INIS)

    Paton, R.F.

    1990-01-01

    US Ecology is a full service waste management company. The company operates two of the nation's three existing low-level radioactive waste (LLRW) disposal facilities and has prepared and submitted license applications for two new LLRW disposal facilities in California and Nebraska. The issue of financial assurances is an important aspect of site development and operation. Proper financial assurances help to insure that uninterrupted operation, closure and monitoring of a facility will be maintained throughout the project's life. Unfortunately, this aspect of licensing is not like others where you can gauge acceptance by examining approved computer codes, site performance standards or applying specific technical formulas. There is not a standard financial assurance plan. Each site should develop its requirements based upon the conditions of the site, type of design, existing state or federal controls, and realistic assessments of future financial needs. Financial assurances at U.S. Ecology's existing sites in Richland, Washington, and Beatty, Nevada, have been in place for several years and are accomplished in a variety of ways by the use of corporate guarantees, corporate capital funds, third party liability insurance, and post closure/long-term care funds. In addressing financial assurances, one can divide the issue into three areas: Site development/operations, third party damages, and long-term care/cleanup

  3. Stress testing in financial institutions

    Directory of Open Access Journals (Sweden)

    Mirković Vladimir

    2014-01-01

    Full Text Available In 2000 the Basle Committee on the Global Financial System defined stress testing as 'a generic term describing various techniques used by financial firms to gauge their potential vulnerability to exceptional but plausible events'. Exceptional events refer to one-off or recurring events with far-reaching consequences for the concerned financial institution and the financial sector s stability overall. Such unexpected (exceptional events include, for instance: bankruptcy in Argentina in 2001, stock markets collapse ('Black Monday' on 19 October 1987, or the fall of the energy giant Enron in 2001. The adoption of the new Basle Accord (better known as Basle II in 2001 envisaged the implementation of stress tests for the identification of events and future changes in economic circumstances that could cause some unfavorable effects on banks' credit exposure, along with the assessment of banks' ability to survive in the new circumstances. Negative experiences from the past, having undermined the stability of financial systems worldwide, made a decisive impact on regulators at all levels to additionally consider the issue of increasing the financial system's resistance to the occurrence of unexpected - exceptional events. To this end, the introduction of stress tests was the turning point in the process of increased banking systems' resistance to shocks. This paper primarily deals with stress testing methodology and bank risk measurement techniques, along with the main results of conducted tests, directly impacting the entire financial system.

  4. Innovation in Science Education - World-Wide.

    Science.gov (United States)

    Baez, Albert V.

    The purpose of this book is to promote improvements in science education, world-wide, but particularly in developing countries. It is addressed to those in positions to make effective contributions to the improvement of science education. The world-wide role of science education, the goals of innovative activities, past experience in efforts to…

  5. GLOBAL FINANCIAL CRISIS 2008 CAUSES AND CONSEQUENCES FOR RUSSIAN MACROPRUDENTIAL REGULATION

    Directory of Open Access Journals (Sweden)

    Егор Николаевич Поляков

    2013-09-01

    Full Text Available This article analyzes the impact of volatility in global financial markets on the economy of developing countries and the analysis of factors contributing to a greater or lesser degree of vulnerability of the financial systems of developing countries in the global crisis of 2008-2010. Particular attention is paid to the influence of the global financial crisis on the economies of the two groups of developing countries of Southeast Asia and Central and Eastern Europe. On the basis of the analysis due to the dynamics of the main macroeconomic indicators of the Russian Federation during the acute phase of the crisis. The author presents an analysis of the vulnerability of the Russian economy in the event of possible instability in global financial markets at present. The author came to the conclusion that the main reason for which in 2009 the level of GDP growth Russia won 178 seats out of 184 countries, were 2 groups of errors. The first group of errors - errors are system of macro-prudential regulation made by the Central Bank from 2002 to 2007, such as: lack of control and regulation of borrowings of the private and banking sectors to foreign markets, as well as in the domestic market in foreign currency, the loss of control over domestic financial markets, such as: the interbank lending market, the stock market. The second group of errors - errors it committed securities during the crisis. The first error of the Central Bank - a rejection Vat refinance foreign debt of non-financial sector, resulting in an acute liquidity crisis. The second error is stretched for a few months, not a one-time devaluation of the ruble. Price of the second error was 200 billion USD, which the Central Bank lost and speculators earned.DOI: http://dx.doi.org/10.12731/2218-7405-2013-9-4

  6. Actual growth and probable future of the worldwide nuclear industry

    International Nuclear Information System (INIS)

    Bupp, I.C.

    1981-01-01

    Worldwide nuclear-power-reactor manufacturing capacity will exceed worldwide demand by a factor of two or more during the 1980s. Only in France and the Soviet bloc countries is it likely that the ambitious nuclear-power programs formulated in the mid-1970s will be implemented. In all other developed countries and in most developing countries, further delays and cancellations of previously announced programs are all but certain. The stalemate over the future of nuclear power is particularly deep in America. Administrative and personnel problems in the Nuclear Regulatory Commission, slow progress on radioactive waste disposal by the Department of Energy, severe financial problems for most electric utilities, and drastic reductions in the rate of electricity demand growth combine to make continuation of the five-year-old moratorium on reactor orders inevitable. Many of the ninety plants under construction may never operate, and some of the seventy in operation may shut down before the end of their economic life. Contrary to widespread belief, further oil price increases may not speed up world-wide reactor sales. It is possible that the world is heading for a worst of all possible outcomes: a large number of small nuclear power programs that do little to meet real energy needs but substantially complicate the problem of nuclear weapons proliferation. 24 references, 4 tables

  7. The global financial crisis and the behavior of short-term interest rates: International and Serbian aspects

    Directory of Open Access Journals (Sweden)

    Đukić Đorđe

    2009-01-01

    Full Text Available Throughout the current global financial crisis the market has continued to fall due to a lack of confidence of those banks that are not yet prepared to lend on the interbank money market. For instance, the negative repercussions of the crisis onto the Serbian financial sector have created a number of issues including a significant increase in lending rates, a difficulty, or impossibility, for the corporate sector to use cheap cross-border loans and a reduction in the supply of foreign exchange on that basis. The inability of the National Bank of Serbia to follow the aggressive reduction of the key interest rate that has been implemented by central banks in developed countries, partly explains the lack of a decline in short-term interest rates by the Serbian banking industry. The first section of the paper focuses on the effects of the financial crisis through the behavior of short-term interest rates in the US and Europe, while the second section gives an estimation of the effects of the global financial crisis on interest rates in the banking industry in Serbia.

  8. ET Worldwide: A Periodic Compendium of Environmental Education and Training Opportunities. No. 15.

    Science.gov (United States)

    United Nations Environment Programme, Nairobi (Kenya).

    This document represents an extensively revised and updated United Nations Environment Programme (UNEP) Directory for Environmental Training Worldwide. It presents a listing of environmental education and training (EE&T) opportunities around the world as well as information on financial assistance for environmental studies abroad. This version…

  9. Global pension systems and their reform: Worldwide drivers, trends, and challenges

    OpenAIRE

    Holzmann, Robert

    2012-01-01

    Across the world, pension systems and their reforms are in a constant state of flux driven by shifting objectives, moving reform needs, and a changing enabling environment. The ongoing worldwide financial crisis and the adjustment to an uncertain 'new normal' will make future pension systems different from past ones. The objectives of this policy review paper are threefold: (i) to briefly ...

  10. Financial sector taxation: Financial activities tax or financial transaction tax?

    Directory of Open Access Journals (Sweden)

    Danuše Nerudová

    2011-01-01

    Full Text Available The recent financial crises has revealed the need to improve and ensure the stability of the financial sector to reduce negative externalities, to ensure fair and substantial contribution of the financial sector to the public finances and the need to consolidate public finance. All those needs represent substantial arguments for the discussion about the introduction of financial sector taxation. There are discussed in the paper two possible schemes of financial sector taxation – financial transaction tax and financial activities tax. The aim of the paper is to research the possibility of the introduction of financial sector taxation, to discuss the pros and cons of two major candidates on financial sector taxation – financial transaction tax and financial activities tax and to suggest the possible candidate suitable for the implementation on the EU level. Financial transaction tax represents the tool suitable mainly on global level, for only in that case enables generate sufficient financial resources. From EU point of view is considered as less suitable, for it bears the risk of reallocation. Therefore the introduction of financial activities tax on EU level is considered as a better solution for the financial sector taxation in the EU, for financial sector is exempted from value added tax. With respect to the fact, that the implementation would represent the innovative approach to the financial sector taxation, there are no empirical proves and therefore this could be the subject of further research.

  11. Financial crimes and financial misdemeanours

    OpenAIRE

    Bamford, Colin

    2007-01-01

    The author argues that undesirable behaviour in the financial markets has not been countered by appropriate controls. Article by Colin Bamford (Barrister, 3-4 South Square) published in Amicus Curiae - Journal of the Society for Advanced Legal Studies. The Journal is produced by the Society for Advanced Legal Studies at the Institute of Advanced Legal Studies, University of London.

  12. RUSSIA’S FINANCIAL MARKETS AND FINANCIAL INSTITUTIONS IN 2014

    OpenAIRE

    A. Abramov

    2015-01-01

    In 2014, the domestic money market saw the onset of a new wave of crisis, manifesting itself in capital outflow, a world’s record plunge of the Russian stock indices, the ruble’s devaluation, the surge in the key interest rate and interest rates in the interbank lending market. It is external shocks that were mostly responsible for that, i.e. slumping crude oil prices and the introduction of sanctions which closed down Russian companies and banks from external capital markets. The adverse ext...

  13. OGJ200 scores solid financial, operating gains

    International Nuclear Information System (INIS)

    Beck, R.J.; Bell, L.

    1997-01-01

    For companies on the OGJ200 list of publicly traded oil and gas producing companies in the US, 1996 was a banner year. Almost all indicators of financial and operating performance increased from comparable measures of 1995. The paper discusses the industry, group operations, group changes, the top 20 companies, OGJ200 shares, and fast-growing companies. The paper tabulates total assets, total revenues, net income, stockholders' equity, capital and exploratory spending, worldwide liquid production, worldwide natural gas production, worldwide liquids and natural gas reserves, US liquids production and reserves, US natural gas production and reserves, and US natural gas wells drilled

  14. Financial Statements Analysis

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.

  15. TRENDS IN THE EVOLUTION OF WORLDWIDE FOREIGN DIRECT INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Maria Ramona Sarbu

    2014-06-01

    Full Text Available The flows of foreign direct investments constitutes a major component of the phenomena that manifest themselves in the world economy, these representing financial resources geared toward a particular investment area that allow those who invest to develop operations over which they have the control and the decision-making power. Given the fact that the world economy is characterized by the increasing interconnectedness of national states as a result of spreading the links in the spheres of economic, political, social and cultural life, following starting with 2008 a period of unusual developments, the purpose of the paper is to analyze the evolution of worldwide foreign direct investment (FDI inflows, before and after the onset of the global economic crisis.

  16. Understanding Financial Statements. Financial Matters. Board Basics.

    Science.gov (United States)

    McCarthy, John H.; Turner, Robert M.

    1998-01-01

    This booklet for trustees of higher education institutions offers guidelines to help trustees understand the institution's financial statements. Individual sections describe the three major financial statements and cover topics such as: (1) standards of the Financial Accounting Standards Board; (2) the "statement of financial position,"…

  17. Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy

    OpenAIRE

    Ivo Pezzuto

    2012-01-01

    In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consume...

  18. Foreshock occurrence rates before large earthquakes worldwide

    Science.gov (United States)

    Reasenberg, P.A.

    1999-01-01

    Global rates of foreshock occurrence involving shallow M ??? 6 and M ??? 7 mainshocks and M ??? 5 foreshocks were measured, using earthquakes listed in the Harvard CMT catalog for the period 1978-1996. These rates are similar to rates ones measured in previous worldwide and regional studies when they are normalized for the ranges of magnitude difference they each span. The observed worldwide rates were compared to a generic model of earthquake clustering, which is based on patterns of small and moderate aftershocks in California, and were found to exceed the California model by a factor of approximately 2. Significant differences in foreshock rate were found among subsets of earthquakes defined by their focal mechanism and tectonic region, with the rate before thrust events higher and the rate before strike-slip events lower than the worldwide average. Among the thrust events a large majority, composed of events located in shallow subduction zones, registered a high foreshock rate, while a minority, located in continental thrust belts, measured a low rate. These differences may explain why previous surveys have revealed low foreshock rates among thrust events in California (especially southern California), while the worldwide observations suggest the opposite: California, lacking an active subduction zone in most of its territory, and including a region of mountain-building thrusts in the south, reflects the low rate apparently typical for continental thrusts, while the worldwide observations, dominated by shallow subduction zone events, are foreshock-rich.

  19. Financier-led asset lease model

    NARCIS (Netherlands)

    Zhao, X.; Angelov, S.A.; Grefen, P.W.P.J.; Meersman, R.A.; Dillon, T.S.

    2010-01-01

    Nowadays, the business globalisation trend drives organisations to spread their business worldwide, which in turn generates vast asset demands. In this context, broader asset channels and higher financial capacities are required to boost the asset lease sector to meet the increasing asset demands

  20. Petroleum industry: Investments and financial resources

    International Nuclear Information System (INIS)

    Robinson West, J.; Humphries, M.E.

    1993-01-01

    In the '90s, the overall capital requirements of the international oil and gas industry to maintain production world-wide and support new projects will likely exceed the resources spent in the '80s. Innovative financing instruments are being developed by both industry and the financial community to meet the new challenge

  1. Does a financial crisis make consumers increasingly prudent?

    NARCIS (Netherlands)

    L.H.J. Noordegraaf-Eelens (Liesbeth); Ph.H.B.F. Franses (Philip Hans)

    2014-01-01

    markdownabstract__Abstract__ Given the enormous impact of the 2007-2010 worldwide financial crisis on societies, one may wonder what the impact was on individual consumer behavior concerning financial products and services. A natural expectation would be that the crisis made people aware of the

  2. 1991 worldwide refining and gas processing directory

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    This book ia an authority for immediate information on the industry. You can use it to find new business, analyze market trends, and to stay in touch with existing contacts while making new ones. The possibilities for business applications are numerous. Arranged by country, all listings in the directory include address, phone, fax and telex numbers, a description of the company's activities, names of key personnel and their titles, corporate headquarters, branch offices and plant sites. This newly revised edition lists more than 2000 companies and nearly 3000 branch offices and plant locations. This east-to-use reference also includes several of the most vital and informative surveys of the industry, including the U.S. Refining Survey, the Worldwide Construction Survey in Refining, Sulfur, Gas Processing and Related Fuels, the Worldwide Refining and Gas Processing Survey, the Worldwide Catalyst Report, and the U.S. and Canadian Lube and Wax Capacities Report from the National Petroleum Refiner's Association

  3. The actual challenges of financial literacy

    Directory of Open Access Journals (Sweden)

    Mitchell Jan W.

    2016-01-01

    Full Text Available In our always-evolving world, financial literacy and inclusion are crucial in the development of sustainable welfare and a more transparent and fairer society. We cannot forget that the subprime mortgage crisis of 2008 that has continued across the world to this day has financial illiteracy as one of the most aggravating factors. The main challenge for many consumers worldwide is that the requirements of adequate financial literacy skills have been steadily increasing over time. Individuals have to take a wide range of financial decisions and unfortunately, they sometimes overlook or simply do not know the risk attached with the decisions they are making until it is too late. The main challenges for financial literacy at the micro-level, meso-level, and macro-level are over deference to the financial industry, lack of financial knowledge, overconfidence about financial knowledge, lack of government initiatives, frameworks and regulations, lack of life-cycle planning and interesting and fascinating ways to teach financial literacy skills.

  4. Policy principles for expanding financial access: report of the CGD task force on access to financial services

    NARCIS (Netherlands)

    Claessens, S.; Honohan, P.; Rojas-Suarez, L.

    2009-01-01

    Despite the rapid growth in finance worldwide over the past quarter-century — now interrupted by the global financial crisis — many low-income households and small firms remain excluded from access to many financial services, especially in developing countries. While traditionally seen by many

  5. A perspective on the recent developments in international financial reporting

    OpenAIRE

    Dima (Cristea), Stefana Maria; David, Delia; Păiuşan, Luminiţa

    2010-01-01

    The objective of the present paper is to provide a synopsis of the recent international financial reporting developments as well as to identify some of the related worldwide implications. The unprecedented joint activity of the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) has caused, in the last decade, a series of debates on whether or not International Financial Reporting Standards (IFRSs) represent what is best of the international acco...

  6. FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Sigit Setiawan

    2015-05-01

    Full Text Available This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relatively better than its financial depth, especially for financial markets, in which Indonesia ranks in the lower average group. From literature reviews, it can be inferred that the main factor driving the poor financial depth in Indonesia is non-competitiveness of the institutions; whereas the driving force of poor financial access in Indonesia are geographical constraints, poverty, a high income gap, and a less than effective national financial development policy.

  7. Worldwide Buoy Technology Survey. Volume 1. Report

    Science.gov (United States)

    1991-02-01

    1522.2.9.3 The Remearch Instituite Netherlands (3tARIN) 155 2.2.9.4 Marine Analytics .. .. .. .. L.2.9.5 D&"a Sipyards . 157 2.2.10 Norway 2 .2-1.1 ~Ticn Plat...dependents who are in financial distress and a deep sea pilotage authority. It is not a governmental organization but it was created by an act of...hoisting power (t) 15.0 15.0 15.0 15.0 f FIGURE 2-35 JAPAN’S BUOY jI 91 objectives, financial cutbacks, etc. which is impacting their services. Among

  8. WorldWide Web: Hypertext from CERN.

    Science.gov (United States)

    Nickerson, Gord

    1992-01-01

    Discussion of software tools for accessing information on the Internet focuses on the WorldWideWeb (WWW) system, which was developed at the European Particle Physics Laboratory (CERN) in Switzerland to build a worldwide network of hypertext links using available networking technology. Its potential for use with multimedia documents is also…

  9. Youth Purpose Worldwide: A Tapestry of Possibilities

    Science.gov (United States)

    Moran, Seana

    2017-01-01

    Interest in youth purpose is growing among scholars around the world. With globalization, better understanding of life purposes in different countries becomes more important as this generation's youth are influenced by ideas and events anywhere. This special issue contributes to this inclusive, worldwide frame of mind by showcasing work done…

  10. Globalization of flora: inviting worldwide ecosystem disaster.

    Science.gov (United States)

    Andrew B. Carey

    2002-01-01

    Meeting the needs of expanding human populations has changed land use worldwide and presented a biodiversity crisis. Emerging related concerns are threats to native species from homogenization of world flora and the spread of exotic species by human activities (Soule 1990, United States Congress, Office of Technology Assessment 1993, Wilcove and others 1998, Soule and...

  11. World-Wide Web: The Information Universe.

    Science.gov (United States)

    Berners-Lee, Tim; And Others

    1992-01-01

    Describes the World-Wide Web (W3) project, which is designed to create a global information universe using techniques of hypertext, information retrieval, and wide area networking. Discussion covers the W3 data model, W3 architecture, the document naming scheme, protocols, document formats, comparison with other systems, experience with the W3…

  12. World-wide distribution automation systems

    International Nuclear Information System (INIS)

    Devaney, T.M.

    1994-01-01

    A worldwide power distribution automation system is outlined. Distribution automation is defined and the status of utility automation is discussed. Other topics discussed include a distribution management system, substation feeder, and customer functions, potential benefits, automation costs, planning and engineering considerations, automation trends, databases, system operation, computer modeling of system, and distribution management systems

  13. STREPTOCOCCUS: A WORLDWIDE FISH HEALTH PROBLEM

    Science.gov (United States)

    Streptococcus iniae and S. agalactiae are important emergent pathogens that affect many fish species worldwide, especially in warm-water regions. In marine and freshwater systems, these Gram-positive bacteria cause significant economic losses, estimated at hundreds of millions of dollars annually. ...

  14. RoboEarth: connecting robots worldwide

    NARCIS (Netherlands)

    Zweigle, O.; Molengraft, van de M.J.G.; D'Andrea, R.; Häussermann, K.

    2009-01-01

    In this paper, we present the core concept and the benefits of an approach called RoboEarth which will be highly beneficial for future robotic applications in science and industry. RoboEarth is a world-wide platform which robots can use to exchange position and map information as well as

  15. Equipment and services for worldwide applications

    Energy Technology Data Exchange (ETDEWEB)

    1985-01-01

    The report presents a digest of geothermal energy technology. The worldwide distribution of geothermal resources is described, and the degree to which various countries are exploiting their resources estimated. Detailed information about US technologies is presented, from exploration through applications to cost factors. (ACR)

  16. FINANCIAL INSTABILITY, FINANCIAL DEVELOPMENT AND POVERTY

    Directory of Open Access Journals (Sweden)

    Ionescu Cristian

    2012-12-01

    Full Text Available There is a positive relationship between financial development and economic growth in short-run and long-run. Financial development is beneficial to the reduction of poverty. But the financial instability which accompanies financial development is is costly for the poor and reduces the positive effect of financial development on the reduction of poverty. The paper aims to analyze in detail the relationship and the (direct and indirect effects between these variables, taking into account their economic and social importance. It is also highlighted the correlation between the financial economy and the real economy, emphasizing the impact on social welfare involved by the interaction of the above mentioned variables.

  17. Financial Village Standing in Indonesian Financial System

    Directory of Open Access Journals (Sweden)

    Herry Purnomo

    2015-12-01

    Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81

  18. FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

    OpenAIRE

    Sigit Setiawan

    2015-01-01

    This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

  19. Strengthening financial management, providing financial safeguard mechanism

    International Nuclear Information System (INIS)

    Sun Wumei

    2010-01-01

    This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)

  20. Financial Stress Indices and Financial Crises

    NARCIS (Netherlands)

    Vermeulen, Robert; Hoeberichts, Marco; Vasicek, Borek; Zigraiova, Diana; Smidkova, Katerina; de Haan, Jakob

    This paper develops a Financial Stress Index (FSI) for 28 OECD countries and examines its relationship to crises using a novel database for financial crises. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. Our results suggest that

  1. Financial Globalization and Inequality

    OpenAIRE

    Kunieda, Takuma

    2008-01-01

    This paper investigates how financial globalization and financial development affect income inequality within a country. We demonstrate that when a country is financially closed to the world market, the Gini coefficient is monotonically decreasing with respect to the degree of financial development, whereas when a country becomes so small due to financial globalization that financial development in the country does not affect the world interest rate, the Gini coefficient is monotonically incr...

  2. Large Retailers’ Financial Services

    OpenAIRE

    Risso, Mario

    2010-01-01

    Over the last few years, large retailers offering financial services have considerably grown in the financial services sector. Retailers are increasing the wideness and complexity of their offer of financial services. Large retail companies provide financial services to their customers following different strategic ways. The provision of financial services in the retailers offer is implemented in several different ways related to the strategies, the structures and the degree of financial know...

  3. Worldwide review of nuclear power developments

    International Nuclear Information System (INIS)

    Rippon, Simon.

    1985-01-01

    In the Western world during 1984, some 26 new reactors with a total capacity of about 26 GWe were commissioned. This review discusses political and economic factors affecting nuclear power worldwide. Developments, or the lack of them, in the following areas are considered: U.S.A., Japan, Western Europe, Turkey, South East Asia, China, India, South and Central America and Eastern Europe. China is predicted to be the next big market

  4. CMS Centres Worldwide - a New Collaborative Infrastructure

    CERN Document Server

    Taylor, Lucas

    2011-01-01

    Webcasts, and generic Web tools such as CMS-TV for broadcasting live monitoring and outreach information. Being Web-based and experiment-independent, these systems could easily be extended to other organizations. We describe the experiences of using CMS Centres Worldwide in the CMS data-taking operations as well as for major media events with several hundred TV channels, radio stations, and many more press journalists simultaneously around the world.

  5. Worldwide Report, Nuclear Development and Proliferation

    Science.gov (United States)

    1986-07-09

    ACTIVITIES AT KIEV VEGETABLE MARKET Moscow SOVETSKAYA ROSSIYA in Russian 16 May 86 p 6 PARTY COMMITrEE ACTIVITIES AT C(1ERNOBYL Moscow PRAVDA in...Agreement (Martin F. Yriart; Buenos Aires AMBITO FINANCIERO , 12 May 86) 22 NEAR EAST/SOUTH ASIA BANGLADESH OBSERVER: Nuclear Technology Growth Playing...University physicists. Scanditronix began to market the product in earnest worldwide in the mid- seventies. At the same time, anxiety was growing within FOA

  6. Selection signatures in worldwide sheep populations.

    OpenAIRE

    Fariello, Maria-Ines; Servin, Bertrand; Tosser-Klopp, Gwenola; Rupp, Rachel; Moreno, Carole; San Cristobal, Magali; Boitard, Simon; Drögemüller, Cord; The International Sheep Genomics Consortium, ISGC

    2014-01-01

    The diversity of populations in domestic species offers great opportunities to study genome response to selection. The recently published Sheep HapMap dataset is a great example of characterization of the world wide genetic diversity in sheep. In this study, we re-analyzed the Sheep HapMap dataset to identify selection signatures in worldwide sheep populations. Compared to previous analyses, we made use of statistical methods that (i) take account of the hierarchical structure of sheep popula...

  7. Selection Signatures in Worldwide Sheep Populations

    OpenAIRE

    Fariello, Maria-Ines; Servin, Bertrand; Tosser-Klopp, Gwenola; Rupp, Rachel; Moreno, Carole; Cristobal, Magali San; Boitard, Simon

    2014-01-01

    The diversity of populations in domestic species offers great opportunities to study genome response to selection. The recently published Sheep HapMap dataset is a great example of characterization of the world wide genetic diversity in sheep. In this study, we re-analyzed the Sheep HapMap dataset to identify selection signatures in worldwide sheep populations. Compared to previous analyses, we made use of statistical methods that (i) take account of the hierarchical structure of sheep popula...

  8. 1996 Portfolio of leading powerplants worldwide

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    This report covers activity in the electric power industry worldwide. The report is divided into three sections: Asia; Europe, Middle East, and Africa; and the Americas. The topics of the articles include major expansion programs for the primary power generating options, selected plant profiles; effect of the availability of natural gas on plans for coal-fired plants; and the pioneering of technologies in North America

  9. The software development process in worldwide collaborations

    International Nuclear Information System (INIS)

    Amako, K.

    1998-01-01

    High energy physics experiments in future colliders are inevitably large scale international collaborations. In these experiments, software development has to be done by a large number of physicists, software engineers and computer scientists, dispersed all over the world. The major subject of this paper is to discuss on various aspects of software development in the worldwide environment. These include software engineering and methodology, software development process and management. (orig.)

  10. Worldwide energy prospects and nuclear contribution

    International Nuclear Information System (INIS)

    1999-04-01

    With a growing up worldwide population and a better standard of living, the global energy consumption will rise. The CO 2 emissions will increase too because of todays share of fossil fuels in the energy sources. This paper analyzes the possible contribution of nuclear energy in this context: economical and environmental aspects, political aspects (distribution of energy resources, energy dependence), energy efficiency, reduction of CO 2 emissions. (J.S.)

  11. Neurocysticercosis as an infectious acquired epilepsy worldwide.

    Science.gov (United States)

    Reddy, Doodipala Samba; Volkmer, Randy

    2017-11-01

    Aside from brain injury and genetic causes, there is emerging information on brain infection and inflammation as a common cause of epilepsy. Neurocysticercosis (NCC), the most common cause of epilepsy worldwide, is caused by brain cysts from the Taenia solium tapeworm. In this article, we provide a critical analysis of current and emerging information on the relationship between NCC infection and epilepsy occurrence. We searched PubMed and other databases for reports on the prevalence of NCC and incidence of epilepsy in certain regions worldwide. NCC is caused by brain cysts from the T. solium and related tapeworms. Many people with NCC infection may develop epilepsy but the rates are highly variable. MRI imaging shows many changes including localization of cysts as well as the host response to treatment. Epilepsy, in a subset of NCC patients, appears to be due to hippocampal sclerosis. Serologic and brain imaging profiles are likely diagnostic biomarkers of NCC infection and are also used to monitor the course of treatments. Limited access to these tools is a key limitation to identify and treat NCC-related epilepsy in places with high prevalence of this parasite infestation. Overall, NCC is a common infection in many patients with epilepsy worldwide. Additional clinical and animal studies could confirm common pathology of NCC as a postinfectious epilepsy that is curable. Copyright © 2017 British Epilepsy Association. Published by Elsevier Ltd. All rights reserved.

  12. Worldwide electricity used in data centers

    International Nuclear Information System (INIS)

    Koomey, Jonathan G

    2008-01-01

    The direct electricity used by data centers has become an important issue in recent years as demands for new Internet services (such as search, music downloads, video-on-demand, social networking, and telephony) have become more widespread. This study estimates historical electricity used by data centers worldwide and regionally on the basis of more detailed data than were available for previous assessments, including electricity used by servers, data center communications, and storage equipment. Aggregate electricity use for data centers doubled worldwide from 2000 to 2005. Three quarters of this growth was the result of growth in the number of the least expensive (volume) servers. Data center communications and storage equipment each contributed about 10% of the growth. Total electricity use grew at an average annual rate of 16.7% per year, with the Asia Pacific region (without Japan) being the only major world region with growth significantly exceeding that average. Direct electricity used by information technology equipment in data centers represented about 0.5% of total world electricity consumption in 2005. When electricity for cooling and power distribution is included, that figure is about 1%. Worldwide data center power demand in 2005 was equivalent (in capacity terms) to about seventeen 1000 MW power plants.

  13. Worldwide electricity used in data centers

    Science.gov (United States)

    Koomey, Jonathan G.

    2008-07-01

    The direct electricity used by data centers has become an important issue in recent years as demands for new Internet services (such as search, music downloads, video-on-demand, social networking, and telephony) have become more widespread. This study estimates historical electricity used by data centers worldwide and regionally on the basis of more detailed data than were available for previous assessments, including electricity used by servers, data center communications, and storage equipment. Aggregate electricity use for data centers doubled worldwide from 2000 to 2005. Three quarters of this growth was the result of growth in the number of the least expensive (volume) servers. Data center communications and storage equipment each contributed about 10% of the growth. Total electricity use grew at an average annual rate of 16.7% per year, with the Asia Pacific region (without Japan) being the only major world region with growth significantly exceeding that average. Direct electricity used by information technology equipment in data centers represented about 0.5% of total world electricity consumption in 2005. When electricity for cooling and power distribution is included, that figure is about 1%. Worldwide data center power demand in 2005 was equivalent (in capacity terms) to about seventeen 1000 MW power plants.

  14. Comparison of the financial performance of Islamic and conventional bank in Malaysia during and after economic crisis

    Science.gov (United States)

    Kadir, Norhidayah A.; Jaffar, Aidatullaini; Abdullah, Nur Lina; Harun, Nurzalina

    2013-09-01

    This paper is a continuation of our former work. In this paper, we compare the financial performance of the two banking systems that exist in Malaysia over two periods of time, during economic crisis (1997-1999) and after economic crisis (2001-2003). In order to see the conventional as well as Islamic bank's performance over these two periods of time, the study uses 10 financial ratios which are broadly categorized into 4 groups: (a) profitability ratios; (b) liquidity ratios; (c) risk and solvency ratios; and (d) efficiency ratios. Next, the study used T-test in determining the significance of the differential performance of the two banks over two periods of time. By using inter-bank comparison, the study found that, conventional bank has better performance, efficient, more profitable and has greater risk as compared to Islamic bank. However, in terms of utilizing asset, Islamic bank is better than conventional bank. As an overall, conventional bank is better in much aspect due to the longer history and experience in the industry than Islamic bank that start their operation in 1983.

  15. Financial Report on the Internet in Portugal

    Directory of Open Access Journals (Sweden)

    Sandra Raquel Pinto Alves

    2005-03-01

    Full Text Available In the last decade, the advances in communication and information technologies dramaticallychanged the information flow and our notions of time and space. The Internet has been changingthe information policy of companies world-wide. Basically in all developed countries,companies are increasingly using the Internet to provide their financial information. Thisresearch presents an empirical study aiming to analyze the organization and informationprovided on the financial report of the 250 most profitable companies in Portugal, particularlytheir financial statements published on the Internet. After the observation and in-depth analysisof the websites of the above-mentioned companies, for the year 2002, it was concluded that 119companies (48% had a webpage on the internet. In what concerns the disclosure of financialinformation, only 51 (43% out of the 119 companies had some kind of financial informationstated on their websites.

  16. Worldwide Report, Telecommunications Policy, Research and Development

    Science.gov (United States)

    1985-12-31

    largest bank, PK Banken in Sweden, and Bank- ers Trust Company in Lon- don, one of the UK’s largest forex dealers, are among the better-known...vice which has become an es- sential tool for forex and money-market operators. The rates displayed cover 100 currencies, financial futures...Eurodeposits, domestic mon- etary instruments, US Gov- ernment securities and bul- lion. m, . Through the Reuter Moni- tor Dealing Service, forex

  17. CONSIDERATIONS REGARDING THE REFORM OF THE EUROPEAN FINANCIAL SUPERVISION SYSTEM

    Directory of Open Access Journals (Sweden)

    Persida Cechin Crista

    2012-01-01

    Full Text Available Financial stability has a crucial role in the financial system and in the economy as a whole, as shown by the current worldwide economic crisis. Therefore, in order to protect the financial system and to ensure financial stability, the identification of the main risk and vulnerability sources is of utmost importance. All involved parties, as well as financial institutions and supervision authorities need to be informed about the risks.Banks, insurance companies and other financial institutions represent the first line of defence against financial crises. These institutions are responsible for maintaining their viability and solvency, as well as for checking the debtors’ credit worthiness and for managing the undertaken risks.

  18. Financial Literacy and Financial Planning in France

    Directory of Open Access Journals (Sweden)

    Luc Arrondel

    2013-07-01

    Full Text Available We study financial literacy in France using the PATER survey and following the Lusardi and Mitchell (2011c approach. We find that some subpopulations are less financially literate than others: women, young and old people as well as less-educated people are more likely to face difficulties when dealing with fundamental financial concepts such as risk diversification and inflation and interest compounding. We also find some differences in financial knowledge depending on the political opinion of the respondents. Finally we show that these differences in financial knowledge are correlated with differences in the propensity to plan: people who score higher on the financial literacy questions are more likely to be engaged in the preparation of a clearly defined financial plan.

  19. Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy

    Directory of Open Access Journals (Sweden)

    Ivo Pezzuto

    2012-09-01

    Full Text Available In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consumers and businesses. Massive cash injections into money markets and interest rates reductions have been assured by central banks in an attempt to shore up banks and to restore confidence within the financial system. Even Governments have promoted bail-out deal agreements, protections from bankruptcies, recapitalizations and bank nationalizations in order to rescue banks from disastrous bankruptcies. The credit crisis originated in the previous years when the Federal Reserve sharply lowered interest rates (Fed Funds at 1% to limit the economic damage of the stock market decline due to the 2000 dot.com companies’ crisis. Lower interest rates made mortgage payments cheaper, and the demand for homes began to rise, sending prices up. In addition, millions of homeowners took advantage of the rate drop to refinance their existing mortgages. As the industry ramped up, the quality of the mortgages went down due to poor credit origination and credit risk assessment. Delinquency and default rates began to rise in 2006 as interest rates rose (Fed Funds at 5,25% and poor households across the US struggled to pay off their mortgages. Many of them went bankrupt and lost their homes but the pace of lending did not slow. Banks have transformed much of the high-risk mortgage debt (securitizations into mortgage-backed securities (MBS and collateralised debt obligations (CDO, and have sold these assets on the financial markets to investment firms and insurance companies

  20. Market Failure, Regulation and Education of Financial Advisors

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2016-04-01

    Full Text Available This paper explores the recent series of financial scandals in the Australian financial advice industry. It examines the causes, consequences and responses to theses scandals by financial institutions, investors and regulators through the lens of relevant finance theory and extant literature. Although the paper focuses on the recent Australian experience the discussion and findings presented are of relevance to financial market regulation worldwide. It is proposed that a combination of compensation, education, training and structural reforms are required to reduce the undesirable effects of information asymmetry, adverse selection and moral hazard in the finance sector.

  1. Worldwide perspectives of nuclear power use

    International Nuclear Information System (INIS)

    Gueldner, R.

    2007-01-01

    The article covers the topic of nuclear power from the point of view of a representative of the World Nuclear Association (WNA). It is to address not only global trends, but also to provide an opportunity to describe his impressions to a German whose main job is with an international company in Paris, and whose WNA desk is set up in London. In retrospect, there had hardly been a time when nuclear power was held in the same high regard, internationally, as it is now. In the most recent World Climate Report, which is always the result of international consensus, nuclear power is referred to as one of the currently available, economically viable key technologies in the fight against climate change. Worldwide, roughly half the electricity generated practically without any CO 2 emissions is produced in nuclear power plants. Moreover, it is not only climate protection which gives a boost to nuclear power. Also the threats facing important sources of fossil fuel supply have greatly contributed to this development. As regards the use of nuclear power in Germany, the facts are known: Longer periods of operation of nuclear power plants could save a lot of money and even more CO 2 . This is good for the environment, the economy and, ultimately, for the population in Germany. Competence preservation is an important topic in our industry. We are on the right way, worldwide, in this respect. One example to be mentioned is the common initiative of international organizations, co-initiated especially also by WNA, to establish the World Nuclear University. This institution is in the process of becoming a wellspring of talent specializing in nuclear technology worldwide. (orig.)

  2. Financial planning

    OpenAIRE

    Χατζηγώγου, Αρτεμις Π.

    2003-01-01

    Σκοπός της μελέτης αυτής, είναι η συγκέντρωση όλων των στοιχείων εκείνων που συνθέτουν μια οργανωμένη διαδικασία έρευνας, που είναι γνωστή ως Financial Planning. Θα μπορούσαμε εναλλακτικά να πούμε, ότι βασικά ο χρηματοοικονομικός σχεδιασμός προγραμματίζει, εξευρίσκει και χρησιμοποιεί τα κεφάλαια με τέτοιο τρόπο ώστε η συνεισφορά τους να είναι μεγαλύτερη στην αποτελεσματική λειτουργία της οικονομικής μονάδας. Παρέχει τις γνώσεις των χρηματιστικών αγορών από όπου αντλούνται τα κεφάλαια. Οδηγεί ...

  3. A worldwide perspective on actinide burning

    International Nuclear Information System (INIS)

    Burch, W.D.

    1991-01-01

    Worldwide interest has been evident over the past few years in reexamining the merits of recovering the actinides from spent light-water reactor (LWR) fuel and transmuting them in fast reactors to reduce hazards in geologic repositories. This paper will summarize some of the recent activities in this field. Several countries are embarked on programs of reprocessing and vitrification of present wastes, from which removal of the actinides is largely precluded. The United States is assessing the ideas related to the fast reactor program and the potential application to defense wastes. 18 refs., 2 figs

  4. Worldwide deposition of 90Sr through 1984

    International Nuclear Information System (INIS)

    Larsen, R.J.; Juzdan, Z.R.

    1986-10-01

    The deposition of 90 Sr in the Northern Hemisphere during 1984 was 0.3 PBq (0.008 MCi), while that of the Southern Hemisphere was 0.1 PBq (0.003 MCi). This resulted in a total deposition on the surface of the earth during 1984 of 0.4 PBq (0.011 MCi). This is the lowest total yearly deposit since the initiation of the Environmental Measurements Laboratory's global fallout program in the mid-1950's. The worldwide cumulative deposit decreased to 357 PBq (9.6 MCi)

  5. Reviss to market Russian isotopes worldwide

    International Nuclear Information System (INIS)

    Latham, I.A.

    1992-01-01

    The culmination of two years of detailed negotiations saw the formation of Reviss Services in April 1992. This joint venture company is a collaboration between Amersham International (Health Science Group), the Mayak Production Association (manufacturer of radioisotopes) and AO Techsnabexport (the Russian export agency). It is set up to enable a variety of Russian-manufactured radioisotopes to be marketed worldwide. Formation of the joint venture company was made possible by the recent political changes in the former Soviet Union, allowing the three parties to extend their long-standing commercial trading relationship into a full working partnership. (Author)

  6. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

    Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

  7. Financial Technologies: A Note on Mobile Payment

    Directory of Open Access Journals (Sweden)

    Song Yee Leng

    2018-02-01

    Full Text Available The financial market is currently disrupted by the rise of new technologies "FinTech” a short form for financial technology, which profoundly reshapes the financial intermediary structure and makes financial services more efficient. Mobile technology with Internet-enabled devices are the next logical phase of the World Wide Web campaign such as mobile phone taking over the mass market and will fundamentally change the way products are buy and sell as well as financial services especially the mobile payment system. This research examines changes payment method in financial services, particularly those involving mobile payments that can create new channels for consumers to purchase goods and services using mobile phone. Mobile payment application is ready to replace traditional cash, checks, credit and debit card throughout the country. In this stage of development, the current situation of mobile payment market, review the previous literature on mobile payment services, analysis use of mobile payment worldwide and various initiatives use mobile phones to offer financial services for those ‘unbanked’.

  8. Financial Technologies: A Note on Mobile Payment

    Directory of Open Access Journals (Sweden)

    Song Yee Leng

    2018-02-01

    Full Text Available The financial market is currently disrupted by the rise of new technologies “FinTech” a short form of financial technology, which profoundly reshapes the financial intermediary structure and makes financial services more efficient. Mobile technology with Internet-enabled devices are the next logical phase of the World Wide Web a campaign such as mobile phone taking over the mass market and will fundamentally change the way products are bought and sold as well as financial services especially the mobile payment system. This research examines changes payment method in financial services, particularly those involving mobile payments that can create new channels for consumers to purchase goods and services using a mobile phone. Mobile payment application is ready to replace traditional cash, checks, credit and debit card throughout the country. In this stage of development, the current situation of mobile payment market, review the previous literature on mobile payment services, analysis use of mobile payment worldwide and various initiatives use mobile phones to offer financial services for those ‘unbanked’.

  9. Stationary power fuel cell commercialization status worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Williams, M.C. [Dept. of Energy, Morgantown, WV (United States)

    1996-12-31

    Fuel cell technologies for stationary power are set to play a role in power generation applications worldwide. The worldwide fuel cell vision is to provide powerplants for the emerging distributed generation and on-site markets. Progress towards commercialization has occurred in all fuel cell development areas. Around 100 ONSI phosphoric acid fuel cell (PAFC) units have been sold, with significant foreign sales in Europe and Japan. Fuji has apparently overcome its PAFC decay problems. Industry-driven molten carbonate fuel cell (MCFC) programs in Japan and the U.S. are conducting megawatt (MW)-class demonstrations, which are bringing the MCFC to the verge of commercialization. Westinghouse Electric, the acknowledged world leader in tubular solid oxide fuel cell (SOFC) technology, continues to set performance records and has completed construction of a 4-MW/year manufacturing facility in the U.S. Fuel cells have also taken a major step forward with the conceptual development of ultra-high efficiency fuel cell/gas turbine plants. Many SOFC developers in Japan, Europe, and North America continue to make significant advances.

  10. Analytical modeling of worldwide medical radiation use

    International Nuclear Information System (INIS)

    Mettler, F.A. Jr.; Davis, M.; Kelsey, C.A.; Rosenberg, R.; Williams, A.

    1987-01-01

    An analytical model was developed to estimate the availability and frequency of medical radiation use on a worldwide basis. This model includes medical and dental x-ray, nuclear medicine, and radiation therapy. The development of an analytical model is necessary as the first step in estimating the radiation dose to the world's population from this source. Since there is no data about the frequency of medical radiation use in more than half the countries in the world and only fragmentary data in an additional one-fourth of the world's countries, such a model can be used to predict the uses of medical radiation in these countries. The model indicates that there are approximately 400,000 medical x-ray machines worldwide and that approximately 1.2 billion diagnostic medical x-ray examinations are performed annually. Dental x-ray examinations are estimated at 315 million annually and approximately 22 million in-vivo diagnostic nuclear medicine examinations. Approximately 4 million radiation therapy procedures or courses of treatment are undertaken annually

  11. Worldwide status of burbot and conservation measures

    Science.gov (United States)

    Stapanian, Martin A.; Paragamian, Vaughn L.; Madenjian, Charles P.; Jackson, James R.; Lappalainen, Jyrki; Evenson, Matthew J.; Neufeld, Matthew D.

    2010-01-01

    Although burbot (Lota lota Gadidae) are widespread and abundant throughout much of their natural range, there are many populations that have been extirpated, endangered or are in serious decline. Due in part to the species’ lack of popularity as a game and commercial fish, few regions consider burbot in management plans. We review the worldwide population status of burbot and synthesize reasons why some burbot populations are endangered or declining, some burbot populations have recovered and some burbot populations do not recover despite management measures. Burbot have been extirpated in much of Western Europe and the United Kingdom and are threatened or endangered in much of North America and Eurasia. Pollution and habitat change, particularly the effects of dams, appear to be the main causes for declines in riverine burbot populations. Pollution and the adverse effects of invasive species appear to be the main reasons for declines in lacustrine populations. Warmer water temperatures, due either to discharge from dams or climate change, have been noted in declining burbot populations at the southern extent of their range. Currently, fishing pressure does not appear to be limiting burbot populations world-wide. We suggest mitigation measures for burbot population recovery, particularly those impacted by dams and invasive species.

  12. Origins of food crops connect countries worldwide

    Science.gov (United States)

    Achicanoy, Harold A.; Bjorkman, Anne D.; Navarro-Racines, Carlos; Guarino, Luigi; Flores-Palacios, Ximena; Engels, Johannes M. M.; Wiersema, John H.; Dempewolf, Hannes; Sotelo, Steven; Ramírez-Villegas, Julian; Castañeda-Álvarez, Nora P.; Fowler, Cary; Jarvis, Andy; Rieseberg, Loren H.; Struik, Paul C.

    2016-01-01

    Research into the origins of food plants has led to the recognition that specific geographical regions around the world have been of particular importance to the development of agricultural crops. Yet the relative contributions of these different regions in the context of current food systems have not been quantified. Here we determine the origins (‘primary regions of diversity’) of the crops comprising the food supplies and agricultural production of countries worldwide. We estimate the degree to which countries use crops from regions of diversity other than their own (‘foreign crops’), and quantify changes in this usage over the past 50 years. Countries are highly interconnected with regard to primary regions of diversity of the crops they cultivate and/or consume. Foreign crops are extensively used in food supplies (68.7% of national food supplies as a global mean are derived from foreign crops) and production systems (69.3% of crops grown are foreign). Foreign crop usage has increased significantly over the past 50 years, including in countries with high indigenous crop diversity. The results provide a novel perspective on the ongoing globalization of food systems worldwide, and bolster evidence for the importance of international collaboration on genetic resource conservation and exchange.

  13. Therapeutic patient education in atopic dermatitis: worldwide experiences.

    Science.gov (United States)

    Stalder, Jean-Francois; Bernier, Claire; Ball, Alan; De Raeve, Linda; Gieler, Uwe; Deleuran, Mette; Marcoux, Danielle; Eichenfield, Lawrence F; Lio, Peter; Lewis-Jones, Sue; Gelmetti, Carlo; Takaoka, Roberto; Chiaverini, Christine; Misery, Laurent; Barbarot, Sébastien

    2013-01-01

    Therapeutic patient education (TPE) has proven effective in increasing treatment adherence and improving quality of life (QoL) for patients with numerous chronic diseases, especially atopic dermatitis (AD). This study was undertaken to identify worldwide TPE experiences in AD treatment. Experts from 23 hospitals, located in 11 countries, responded to a questionnaire on 10 major items. Patients in TPE programs were mainly children and adolescents with moderate to severe AD or markedly affected QoL. Individual and collective approaches were used. Depending on the center, the number of sessions varied from one to six (corresponding to 2 to 12 hours of education), and 20 to 200 patients were followed each year. Each center's education team comprised multidisciplinary professionals (e.g., doctors, nurses, psychologists). Evaluations were based on clinical assessment, QoL, a satisfaction index, or some combination of the three. When funding was obtained, it came from regional health authorities (France), insurance companies (Germany), donations (United States), or pharmaceutical firms (Japan, Italy). The role of patient associations was always highlighted, but their involvement in the TPE process varied from one country to another. Despite the nonexhaustive approach, our findings demonstrate the increasing interest in TPE for managing individuals with AD. In spite of the cultural and financial differences between countries, there is a consensus among experts to integrate education into the treatment of eczema. © 2013 Wiley Periodicals, Inc.

  14. COMPUTER MODELING OF FINANCIAL INFORMATION FOR BUSINESS PLANS (XBRL - EXTENSIBLE BUSINESS REPORTING LANGUAGE

    Directory of Open Access Journals (Sweden)

    Valeriu LUPU

    2017-06-01

    Full Text Available The quality of a manager's decision improves based on high quality financial statements, hence the need to find means to increase the quality of financial reporting, specifically to increase the quality of the assurance process. The ultimate aim is to reduce the skepticism of users of financial data and to use XBRL as Internet-based technology to enable electronic preparation and exchange of worldwide financial statements.

  15. FINANCIAL DEPTH AND FINANCIAL ACCESS IN INDONESIA

    OpenAIRE

    Sigit Setiawan

    2015-01-01

    This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

  16. Financial Ratios and Perceived Household Financial Satisfaction

    Directory of Open Access Journals (Sweden)

    Scott Garrett

    2013-08-01

    Full Text Available This paper tests the relative strength of three objective measures of financial health (using the solvency, liquidity, and investment asset ratio in predicting a household’s subjective feeling of current financial satisfaction. Using a sample of 6,923 respondents in the 2008 Health and Retirement Study this paper presents evidence of two main findings: 1 the solvency ratio is most strongly associated with financial satisfaction levels based on a cross-sectional design and 2 changes in the investment asset ratio are most strongly associated with changes in financial satisfaction over time.

  17. Financial Depth and Financial Access in Indonesia

    OpenAIRE

    Setiawan, Sigit

    2015-01-01

    This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...

  18. Financial analysis as a financial management instrument

    Directory of Open Access Journals (Sweden)

    Stehlíková Beáta

    2001-12-01

    Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firm’s financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide “en bloc”.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting

  19. Financial derivatives in power marketing: The basics

    International Nuclear Information System (INIS)

    Ramesh, V.C.; Ghosh, K.

    1996-01-01

    With the ongoing changes in the power industry worldwide, electricity is beginning to be traded like other commodities. The use of financial derivative instruments in power markets is on the rise. The purpose of this paper is to explain the role of these derivatives in risk management which is vital for survival in the increasingly competitive industry. Starting with the familiar cash markets, the paper discusses the basics of futures, options, and swap markets as applied to electric energy trading

  20. A worldwide survey of fast breeder reactors

    International Nuclear Information System (INIS)

    Hennies, H.H.

    1986-01-01

    While the completion of the SNR 300 was accompanied by manifold discussions on questions relevant to safety and energy policies in the Federal Republic of Germany and as a result considerable scheduling delays and exceeding of budgets were recorded, breeder reactor technology has been progressing worldwide. The transition from the development phase with small trial reactors to the construction and operation of large performance reactors was completed systematically, in particular in France and the Soviet Union. Even though the uranium supply situation does not make a short-term and comprehensive employment of fast breeder reactors essential, technology has meanwhile been advanced to such a level and extensive operating experience is on hand to enable the construction and safe operation of fast breeder reactors. A positive answer has long been found to the question of the realization of a breeding rate to guarantee the breeding effect. There remain now the endeavors to achieve a reduction in investment and fuel cycle costs. (orig.) [de

  1. Worldwide clustering of the corruption perception

    Science.gov (United States)

    Paulus, Michal; Kristoufek, Ladislav

    2015-06-01

    We inspect a possible clustering structure of the corruption perception among 134 countries. Using the average linkage clustering, we uncover a well-defined hierarchy in the relationships among countries. Four main clusters are identified and they suggest that countries worldwide can be quite well separated according to their perception of corruption. Moreover, we find a strong connection between corruption levels and a stage of development inside the clusters. The ranking of countries according to their corruption perfectly copies the ranking according to the economic performance measured by the gross domestic product per capita of the member states. To the best of our knowledge, this study is the first one to present an application of hierarchical and clustering methods to the specific case of corruption.

  2. Worldwide trends in diabetes since 1980

    DEFF Research Database (Denmark)

    Bjerregaard, Peter; Andersen, Lars Bo; Bugge, Anna

    2016-01-01

    BACKGROUND: One of the global targets for non-communicable diseases is to halt, by 2025, the rise in the age-standardised adult prevalence of diabetes at its 2010 levels. We aimed to estimate worldwide trends in diabetes, how likely it is for countries to achieve the global target, and how changes...... in prevalence, together with population growth and ageing, are affecting the number of adults with diabetes. METHODS: We pooled data from population-based studies that had collected data on diabetes through measurement of its biomarkers. We used a Bayesian hierarchical model to estimate trends in diabetes...... prevalence-defined as fasting plasma glucose of 7.0 mmol/L or higher, or history of diagnosis with diabetes, or use of insulin or oral hypoglycaemic drugs-in 200 countries and territories in 21 regions, by sex and from 1980 to 2014. We also calculated the posterior probability of meeting the global diabetes...

  3. World-Wide Web the information universe

    CERN Document Server

    Berners-Lee, Tim; Groff, Jean-Francois; Pollermann, Bernd

    1992-01-01

    Purpose - The World-Wide Web (W-3) initiative is a practical project designed to bring a global information universe into existence using available technology. This paper seeks to describe the aims, data model, and protocols needed to implement the "web" and to compare them with various contemporary systems. Design/methodology/approach - Since Vannevar Bush's article, men have dreamed of extending their intellect by making their collective knowledge available to each individual by using machines. Computers provide us two practical techniques for human-knowledge interface. One is hypertext, in which links between pieces of text (or other media) mimic human association of ideas. The other is text retrieval, which allows associations to be deduced from the content of text. The W-3 ideal world allows both operations and provides access from any browsing platform. Findings - Various server gateways to other information systems have been produced, and the total amount of information available on the web is...

  4. Cell therapy worldwide: an incipient revolution.

    Science.gov (United States)

    Rao, Mahendra; Mason, Chris; Solomon, Susan

    2015-01-01

    The regenerative medicine field is large, diverse and active worldwide. A variety of different organizational and product models have been successful, and pioneering entrepreneurs have shown both what can work and, critically, what does not. Evolving regulations, novel funding mechanisms combined with new technological breakthroughs are keeping the field in a state of flux. The field struggles to cope with the lack of infrastructure and investment, it nevertheless has evolved from its roots in human stem cell therapy and tissue and organ transplants to a field composed of a variety of products from multiple cell sources with approval for use in numerous countries. Currently, tens of thousands of patients have been treated with some kind of cell therapy.

  5. Worldwide Increasing Incidences of Cutaneous Malignant Melanoma

    International Nuclear Information System (INIS)

    Godar, D. E.

    2011-01-01

    The incidence of cutaneous malignant melanoma (CMM) has been increasing at a steady rate in fair-skinned populations around the world for decades. Scientists are not certain why CMM has been steadily increasing, but strong, intermittent UVB (290-320 nm) exposures, especially sunburn episodes, probably initiate, CMM, while UVA (321-400 nm) passing through glass windows in offices and cars probably promotes it. The CMM incidence may be increasing at an exponential rate around the world, but it definitely decreases with increasing latitude up to∼ 50 degree N where it reverses and increases with the increasing latitude. The inversion in the incidence of CMM may occur because there is more UVA relative to UVB for most of the year at higher latitudes. If windows, allowing UVA to enter our indoor-working environment and cars, are at least partly responsible for the increasing incidence of CMM, then UV filters can be applied to reduce the rate of increase worldwide.

  6. Selection signatures in worldwide sheep populations.

    Science.gov (United States)

    Fariello, Maria-Ines; Servin, Bertrand; Tosser-Klopp, Gwenola; Rupp, Rachel; Moreno, Carole; San Cristobal, Magali; Boitard, Simon

    2014-01-01

    The diversity of populations in domestic species offers great opportunities to study genome response to selection. The recently published Sheep HapMap dataset is a great example of characterization of the world wide genetic diversity in sheep. In this study, we re-analyzed the Sheep HapMap dataset to identify selection signatures in worldwide sheep populations. Compared to previous analyses, we made use of statistical methods that (i) take account of the hierarchical structure of sheep populations, (ii) make use of linkage disequilibrium information and (iii) focus specifically on either recent or older selection signatures. We show that this allows pinpointing several new selection signatures in the sheep genome and distinguishing those related to modern breeding objectives and to earlier post-domestication constraints. The newly identified regions, together with the ones previously identified, reveal the extensive genome response to selection on morphology, color and adaptation to new environments.

  7. Towards worldwide height unification using ocean information

    Directory of Open Access Journals (Sweden)

    P. L. Woodworth

    2015-03-01

    Full Text Available This paper describes how we are contributing to worldwide height system unification (WHSU by using ocean models together with sea level (tide gauge and altimeter information, geodetic (GPS and levelling data, and new geoid models based on information from the GRACE and GOCE gravity missions, to understand how mean sea level (MSL varies from place to place along the coast. For the last two centuries, MSL has been used to define datums for national levelling systems. However, there are many problems with this. One consequence of WHSU will be the substitution of conventional datums as a reference for heights with the use of geoid, as the only true "level" or datum. This work is within a number of GOCE-related activities funded by the European Space Agency. The study is focused on the coastlines of North America and Europe where the various datasets are most copious.

  8. CMS Centres Worldwide - a New Collaborative Infrastructure

    International Nuclear Information System (INIS)

    Taylor, Lucas

    2011-01-01

    The CMS Experiment at the LHC has established a network of more than fifty inter-connected 'CMS Centres' at CERN and in institutes in the Americas, Asia, Australasia, and Europe. These facilities are used by people doing CMS detector and computing grid operations, remote shifts, data quality monitoring and analysis, as well as education and outreach. We present the computing, software, and collaborative tools and videoconferencing systems. These include permanently running 'telepresence' video links (hardware-based H.323, EVO and Vidyo), Webcasts, and generic Web tools such as CMS-TV for broadcasting live monitoring and outreach information. Being Web-based and experiment-independent, these systems could easily be extended to other organizations. We describe the experiences of using CMS Centres Worldwide in the CMS data-taking operations as well as for major media events with several hundred TV channels, radio stations, and many more press journalists simultaneously around the world.

  9. Climate Change Impacts on Worldwide Coffee Production

    Science.gov (United States)

    Foreman, T.; Rising, J. A.

    2015-12-01

    Coffee (Coffea arabica and Coffea canephora) plays a vital role in many countries' economies, providing necessary income to 25 million members of tropical countries, and supporting a $81 billion industry, making it one of the most valuable commodities in the world. At the same time, coffee is at the center of many issues of sustainability. It is vulnerable to climate change, with disease outbreaks becoming more common and suitable regions beginning to shift. We develop a statistical production model for coffee which incorporates temperature, precipitation, frost, and humidity effects using a new database of worldwide coffee production. We then use this model to project coffee yields and production into the future based on a variety of climate forecasts. This model can then be used together with a market model to forecast the locations of future coffee production as well as future prices, supply, and demand.

  10. Overview and forecast on forestry productions worldwide.

    Science.gov (United States)

    Wenjun, Zhang

    2007-02-01

    Our world is largely dependent upon the forestry productions. Through the exploitation of forest reserves, we manufacture various industrial products, furniture, and obtain fuel and energy. Forestry productions should be conducted without large-scale deforestation and environmental degradation. In present study we perform a review and forecast analysis on forestry productions worldwide, with the objectives of providing an insight into the trend for several types of forestry productions in the future, and providing referential data for sustainable forestry productions and environmental management. Polynomial functions are used to fit trajectories of forestry productions since 1961 and forecasts during the coming 20 years are given in detail. If the past pattern continues, world fibreboard production would dramatically grow and reach 224,300,000 +/- 44,400,000 m(3) by the year 2020, an increase up to 240.7 to 408.9% as compared to the present level. Roundwood production of the world would change by -55.5 to 70.4% and reach 3,526,600,000 +/- 2,066,800,000 m(3) by 2020. In 2020 world production of sawlogs and veneer logs would change by -100 to 164.6% and reach 1,212,900,000 +/- 1,242,600,000 m(3). Global wood fuel production would change by -68.9 to 1.4% and reach 1,130,900,000 +/- 600,800,000 m(3) by 2020. Forestry productions in developed countries would largely surpass productions in developing countries in the near future. World forestry production grew since 1961 excluding wood fuel. Roundwood and wood fuel account for the critical proportions in the forestry productions. Wood fuel production has being declined and rapid growing of roundwood production has slowed in recent years. Widespread use of regenerative wood substitutes and worldwide afforestation against deforestation will be among the most effective ways to reduce deforestation and environment degradation associated with forestry productions.

  11. [Current tuberculosis mortality world-wide].

    Science.gov (United States)

    Haefliger, E; Rieder, H L

    1992-04-21

    The mortality rate still is an important index for assessment of tuberculosis. Statistical records are kept on the mortality rate on a worldwide basis--more than in the case of other tuberculosis parameters. They allow us to make valuable comparisons. They are also useful because the mortality is closely related to the morbidity. The present thesis is based on comparative figures from the 1989 volume of the WHO Health Statistics Annual. Various countries have been specially selected by the publisher--and subsequently also by us--for sake of clarity. The figures vary strongly within these countries, which was to be expected. The mortality rate varies in Europe (for each 100,000 residents) e.g. from 0.2 in the Netherlands to 8.15 in the Soviet Union. In the Americas the rates vary from 0.4 for Canada to 12.9 for Ecuador. In the Western Pacific region the mortality rates vary from 0.35 for Australia to 14.65 for China. On a worldwide basis, the share of deaths from tuberculosis among all causes of death varies from 0.02% in the Netherlands to 2.10% in the Republic of Korea. The relation of tuberculosis deaths with regard to sexes in Switzerland: 75.7% men, 24.3% women, which is more or less the European average. The lower the mortality rate for tuberculosis are, the lower the difference between the sexes appears to be. Similar facts are found with regard to the distribution of tuberculosis deaths according to age groups: the lower the tuberculosis rate, the more tuberculosis is found in older age groups. The tuberculosis deaths are percentage-wise similarly distributed to the respiratory organs and the other tuberculosis forms.(ABSTRACT TRUNCATED AT 250 WORDS)

  12. Child homicide perpetrators worldwide: a systematic review.

    Science.gov (United States)

    Stöckl, Heidi; Dekel, Bianca; Morris-Gehring, Alison; Watts, Charlotte; Abrahams, Naeemah

    2017-01-01

    This study aims to describe child homicide perpetrators and estimate their global and regional proportion to inform prevention strategies to reduce child homicide mortality worldwide. A systematic review of 9431 studies derived from 18 databases led to the inclusion of 126 studies after double screening. All included studies reported a number or proportion of child homicides perpetrators. 169 countries and homicide experts were surveyed in addition. The median proportion for each perpetrator category was calculated by region and overall and by age groups and sex. Data were obtained for 44 countries. Overall, parents committed 56.5% (IQR 23.7-69.6) of child homicides, 58.4% (0.0-66.7) of female and 46.8% (14.1-63.8) of male child homicides. Acquaintances committed 12.6% (5.9-31.3) of child homicides. Almost a tenth (9.2% (IQR 0.0-21.9) of child homicides had missing information on the perpetrator. The largest proportion of parental homicides of children was found in high-income countries (64.2%; 44.7-71.8) and East Asia and Pacific Region (61.7%; 46.7-78.6). Parents committed the majority (77.8% (61.5-100.0)) of homicides of children under the age of 1 year. For adolescents, acquaintances were the main group of homicide perpetrators (36.9%, 6.6-51.8). There is a notable lack of studies from low-income and middle-income countries and children above the age of 1 year. Children face the highest risk of homicide by parents and someone they know. Increased investment into the compilation of routine data on child homicide, and the perpetrators of this homicide is imperative for understanding and ultimately reducing child homicide mortality worldwide. PROSPERO registration number: CRD42015030125.

  13. Practical C++ financial programming

    CERN Document Server

    Oliveira, Carlos

    2015-01-01

    Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in

  14. Financial Literacy, Confidence and Financial Advice Seeking

    NARCIS (Netherlands)

    Kramer, Marc M.

    2016-01-01

    We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.

  15. WATER REALITY IN UKRAINE AND WORLDWIDE

    Directory of Open Access Journals (Sweden)

    L. F. Dolina

    2017-10-01

    Full Text Available Purpose. The paper analyzes the state of water management in Ukraine and worldwide, as well as the best practices in this area. Methodology. The study was carried out based on the analysis of literature sources and reporting data on the state of water management in Ukraine, European countries, the USA (2010-2016. Findings. The water state analysis in the regions of Ukraine showed that the quality in most cases is close to or meets the requirements for drinking water. Drinking tap water requires post-treatment in all regions of the country. The main issue for today is the production of the necessary equipment for treatment plants. Unfortunately, not all equipment is produced in Ukraine. The condition of rural water pipelines is of particular concern. Among the tested pipelines 7.3% do not comply with the rules and regulations. At the same time, only 25% of villages in Ukraine are provided with centralized water supply. Originality. The authors presented the results of a comprehensive review of the world's issues on disinfection of drinking and waste water, where various methods are used, partly in combination with each other in Ukraine and the worldwide. The main unresolved issue today is the issue of the residual quantity of drugs in the drinking water. The main environmental threat of the world scale is the presence of medicines in drinking water. The treatment facilities are not suitable for the decomposition or trapping of medicinal products. Nowhere in the world there is protection from these substances. One of the key issues in the solution of drinking water production is seawater desalination. To reduce the cost of desalination of sea water the SWRO-membrane technology is used. Practical value. Water problems are number one problems all over the world and in Ukraine as well. It is necessary to provide for additional financing to solve problems in the preparation and purification of waters, not with whatever funds remain, taking into

  16. DETERMINANTS OF FINANCIAL STRUCTURE OF GREEK COMPANIES

    Directory of Open Access Journals (Sweden)

    Gargalis PANAGIOTIS

    2016-06-01

    Full Text Available Capital structure is essential for the survival, growth and performance of a firm. There has been a growing interest worldwide in identifying the factors associated with debt leverage. This article aims to investigate the factors affecting the capital structure of companies listed on the Athens Stock Exchange (ASE. The data set used is composed of indicators reflecting the financial position and performance of 40 firms listed on the ASE in 2014. Using a regression model we estimate in what extent the financial structure of companies is affected by performance indicators and other specific factors like the field of activity or the size of the firms. The results obtained show an important influence of share of tangible assets in total assets of the company on the financial leverage, as main variable selected in order to reflect the capital structure of Greek companies.

  17. Financial Integration and Financial Crisis: Croatia Approaching the EMU

    Directory of Open Access Journals (Sweden)

    Dražen Derado

    2009-09-01

    Full Text Available The breakdown of command economies has significantly increased growth potentials all over Europe and opened up prospects for economic development. Encouraged by that, the EU embarked on the process of deeper economic integration. Its main aspects – economic liberalization and monetary integration – coincided with the worldwide globalization of trade and capital flows. As a laggard country in the process of economic integration, Croatia is in a particularly difficult position – besides soaring trade deficit, it is highly indebted and strongly dependant upon foreign capital. Appreciating theoretical inferences and empirical evidence on monetary integration, while taking reference to the realized level of international financial integration and external vulnerability, the aim of the paper is to find out if Croatia fulfils the criteria for successful monetary integration.

  18. Materiality in Financial Audit

    OpenAIRE

    Adriana Claudia GHIMIS

    2012-01-01

    The financial audit aims toward increasing the credibility of financial informaiton. The purpose of the paper is to outline the most important topics regarding the definition and application of significance limit.

  19. CMS Financial Reports

    Data.gov (United States)

    U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major...

  20. Financial Key Ratios

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on computing techniques starting from trial balance data regarding financial key ratios. There are presented activity, liquidity, solvency and profitability financial key ratios. It is presented a computing methodology in three steps based on a trial balance.

  1. Quarterly Financial Report

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

    acray

    2011-06-30

    Jun 30, 2011 ... 2 IDRC QUARTERLY FINANCIAL REPORT JUNE 2011. Consolidated .... spending on capacity-building projects as well as to management's decision to restrict capacity- building ...... The investments in financial institutions.

  2. Financial Integrity Benchmarks

    Data.gov (United States)

    City of Jackson, Mississippi — This data compiles standard financial integrity benchmarks that allow the City to measure its financial standing. It measure the City's debt ratio and bond ratings....

  3. INNOVATIONS IN FINANCIAL ANALYTICS

    Directory of Open Access Journals (Sweden)

    T. V. Teplova

    2012-01-01

    Full Text Available In this paper as the main feature of innovation in the financial health of a company analyst view the shift to two circuits of key interests of owners of capital (financial stakeholders. Justifi ed by differences key financial systems within the contour ownership interest and the lender three projections: liquidity, the current economic efficiency and growth. In the paper as the main feature of the innovation in the analysis of the financial health of a company is considered a transition to the two circuits of the interests of the key owners of financial capital (financial stakeholders. Justifi ed differences of key financial indicator systems in the framework of the outline of the interests of the owner and the lender by three projections: liquidity, efficiency and the quality of growth. The examples of Russian companies have different interpretations of financial targets and indicators with a choice of activities.

  4. Financial Services Industry

    Science.gov (United States)

    2006-01-01

    www.investopedia.com/features/industryhandbook/banking.asp Mishkin , F. & Eakins, S. (2003). Financial Markets + Institutions (4th ed.). Boston...purposes, participants interact in financial markets for securities, bonds, futures and options, utilizing financial intermediaries such as retail and...nations. U.S. participants, likewise, may also choose to participate in foreign financial institutions in order to gain access to or operate in

  5. Phytophthora infestans population structure: A worldwide scale

    International Nuclear Information System (INIS)

    Cardenas, Martha; Danies, Giovanna; Tabima, Javier; Bernal, Adriana; Restrepo, Silvia

    2012-01-01

    Phytophthora infestans, the causal agent of late blight disease in potato and other members of the Solanaceae family, is responsible for causing the Irish potato famine and, even today, it causes enormous economic losses all over the world. For the establishment of an adequate pest management strategy, the determination of the pathogen's population structure is required. To characterize P. infestans populations worldwide two allozymes, Gpi (Glucose-6-phospate isomerase) and Pep (Pep tidase), the RG57 DNA RFLP fingerprinting probe, as well as resistance to the fungicide metalaxyl and mating type, have been used as markers. P. infestans populations in Mexico have been one of the main focuses of research in the population biology of this pathogen because this country has been considered as one of the possible centers of origin of this oomycete. In this review we present the population structure of P. infestans in Mexico, Europe, Africa, Asia, North America, and South America, expanding it on the present situation of P. infestans in Colombia. Finally, we will discuss different lines of research that are being carried out today with respect to P. infestans in Colombia, which have shown the importance of continuing the study of this devastating plant pathogen in our country.

  6. Phytophthora infestans population structure: a worldwide scale

    Directory of Open Access Journals (Sweden)

    Martha Cárdenas Toquica

    2012-05-01

    Full Text Available Phytophthora infestans, the causal agent of late blight disease in potato and other members of the Solanaceae family, is responsible for causing the Irish potato famine and, even today, it causes enormous economic losses all over the world. For the establishment of an adequate pest management strategy, the determination of population structure is required. To characterize P. infestans populations worldwide two allozymes, Gpi (Glucose-6-phospate isomerase and Pep (Peptidase, the RG57 DNA RFLP fingerprinting probe, as well as resistance to the fungicide metalaxyl and the mating type, have been used as markers. P. infestans populations in Mexico have been one of the main focuses of research in the population biology of this pathogen because this country has been considered as one of the possible centers of origin of this oomycete. In this review we present the population structure of P. infestans in Mexico, Europe, Africa, Asia, North America, and South America expanding on the present situation of P. infestans in Colombia. Finally, we will discuss different lines of research that are being carried out today with respect to P. infestans in Colombia, which have shown the importance of continuing the study of this devastating plant pathogen in our country.

  7. Geophysical worldwide networks: basic concepts and techniques

    International Nuclear Information System (INIS)

    Ruzie, G.; Baubron, G.

    1997-01-01

    The detection of nuclear explosions around the globe requires the setting up of networks of sensors on a worldwide basis. Such equipment should be able to transmit on-line data in real-time or pseudo real-time to a center or processing centers. The high level of demanded reliability for the data (generally better than 99 %) also has an impact on the accuracy and precision of the sensors and the communications technology, as well as the systems used for on-line checking. In the light of these requirements, DAM has developed a data gathering network based on the principle of VSTA duplex links which ensures the on-line transmission of data and operational parameters towards the Processing Centre via a hub. In the other direction, the Centre can act on a number of parameters in order to correct them if necessary, or notify the local maintenance team. To optimize the reliability of the main components of this system, the detection stations as well as their associated beacons have low consumption and can be supplied by solar panels, thus facilitating the installation of the networks. The seismic network on the French national territory is composed of 40 stations built on the principles outlined above. In order to gather data from stations established outside France, DAM is planning to use an analogue system to transmit data in on-line as well as off-line mode. (authors)

  8. Worldwide Engagement for Sustainable Energy Strategies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-08-01

    Almost 40 years after the Agency’s founding, the IEA responsibility for ensuring access to global oil supplies is still a core mandate. Yet over the course of its history, the IEA’s responsibilities have expanded along with both the international energy economy and conceptions of energy security itself. Our mission to promote secure and sustainable energy provision spans the energy mix. At the same time, a changing global energy map means that the industrialised nations of the world no longer dominate energy consumption. The IEA must work in close co-operation with partner countries and organisations worldwide to achieve its three core objectives: energy security, economic prosperity, and environmental sustainability. Working toward international commitments to reduce greenhouse gas emissions that cause global climate change; facilitating energy technology exchange, innovation and deployment; improving modern energy access to the billions of people who are without it; bolstering both cleanliness and security through energy efficiency; and promoting flexible and functioning energy markets – these efforts complement our traditional core responsibilities of mitigating the effects of supply disruptions and improving statistical transparency.

  9. The Worldwide Oil Spill Model (WOSM)

    International Nuclear Information System (INIS)

    Anderson, E.L.; Howlett, E.; Jayko, K.; Reed, M.; Spaulding, M.; Kolluru, V.

    1993-01-01

    The Worldwide Oil Spill Model (WOSM) is a standalone microcomputer-based state-of-the-art oil spill model system for use in oil spill response decision support, planning, research, training, and contingency planning. WOSM was developed under support provided by a consortium of oil companies and government agencies. WOSM represents the next generation of oil spill model beyond the OILMAP modelling system (Spaulding et al, 1992). WOSM is designed in a shell architecture in which the only parameters that change are those that describe the area in which the spill model is to be applied. A limited function geographic information system (GIS) is integrated within the model system, and the spill modelling shell has been extended to include interfaces to other GIS systems and digital data. WOSM contains all the databases, data manipulation and graphical display tools, and models to simulate any type of oil spill. The user has control over which weathering processes are to be modelled, and WOSM data input tools enable continual refinement of model predictions as more refined data is imported. Use of WOSM is described and illustrated, showing sample screens and applications. WOSM algorithms and file structure are also outlined. An example test case of a spill in the Juan de Fuca strait is included. 29 refs., 7 figs., 1 tab

  10. Worldwide Increasing Incidences of Cutaneous Malignant Melanoma

    Directory of Open Access Journals (Sweden)

    Dianne E. Godar

    2011-01-01

    Full Text Available The incidence of cutaneous malignant melanoma (CMM has been increasing at a steady rate in fair-skinned populations around the world for decades. Scientists are not certain why CMM has been steadily increasing, but strong, intermittent UVB (290–320 nm exposures, especially sunburn episodes, probably initiate, CMM, while UVA (321–400 nm passing through glass windows in offices and cars probably promotes it. The CMM incidence may be increasing at an exponential rate around the world, but it definitely decreases with increasing latitude up to ~50°N where it reverses and increases with the increasing latitude. The inversion in the incidence of CMM may occur because there is more UVA relative to UVB for most of the year at higher latitudes. If windows, allowing UVA to enter our indoor-working environment and cars, are at least partly responsible for the increasing incidence of CMM, then UV filters can be applied to reduce the rate of increase worldwide.

  11. Worldwide supply of Framatome ANP Fuel

    International Nuclear Information System (INIS)

    Jouan, J.

    2002-01-01

    Framatome-ANP is organized according to a matrix structure with 4 business groups and 3 regional divisions. The fuel business group with a workforce of about 4600 people is active in all the trades needed to design and manufacture nuclear fuel. The activity ranges from the production of zirconium alloys to the production of finished fuel assemblies, facilities are located in France, Germany and Usa. Framatome-ANP is the foremost vendor of LWR fuel worldwide with 41 % of the PWR market share and 22 % of the BWR market share. The global operating experience built up is based on more than 150.000 fuel assemblies delivered to 169 reactors in 18 countries. This long history has allowed Framatome-ANP to develop an efficient quality-improvement program based on experience feedback, for instance fuel rod failures induced by debris have been almost completely eliminated with the introduction of anti-debris devices equipping bottom nozzles. Framatome-ANP has developed a large range of engineering services, for instance core design teams can provide the most cost-effective fuel management schemes for cycle lengths from 6 to 24 months. The first technology transfer between China entities and Framatome related to the AFA-2G technology started in 1991 and was completed successfully in 1994. Since this date the Chinese manufacturer has supplied fuel reload for the units of Daya-Bay. (A.C.)

  12. Insular threat associations within taxa worldwide.

    Science.gov (United States)

    Leclerc, Camille; Courchamp, Franck; Bellard, Céline

    2018-04-23

    The global loss of biodiversity can be attributed to numerous threats. While pioneer studies have investigated their relative importance, the majority of those studies are restricted to specific geographic regions and/or taxonomic groups and only consider a small subset of threats, generally in isolation despite their frequent interaction. Here, we investigated 11 major threats responsible for species decline on islands worldwide. We applied an innovative method of network analyses to disentangle the associations of multiple threats on vertebrates, invertebrates, and plants in 15 insular regions. Biological invasions, wildlife exploitation, and cultivation, either alone or in association, were found to be the three most important drivers of species extinction and decline on islands. Specifically, wildlife exploitation and cultivation are largely associated with the decline of threatened plants and terrestrial vertebrates, whereas biological invasions mostly threaten invertebrates and freshwater fish. Furthermore, biodiversity in the Indian Ocean and near the Asian coasts is mostly affected by wildlife exploitation and cultivation compared to biological invasions in the Pacific and Atlantic insular regions. We highlighted specific associations of threats at different scales, showing that the analysis of each threat in isolation might be inadequate for developing effective conservation policies and managements.

  13. Bitcoin – the World-Wide Currency

    Directory of Open Access Journals (Sweden)

    Shuba Olena А.

    2017-11-01

    Full Text Available The article is aimed at researching bitcoin, the digital currency. It has been found that Bitcoin is a cryptocurrency, that is, the virtual money, which has no material equivalent. The history of creation and development of cryptocurrency was reviewed. There is a reduction in volatility, which guarantees the security of currency, as well as the increase in currency volume and the inability to estimate the profitability of bitcoins. The dynamics of the value of digital currency in US dollars over recent years has been analyzed. Improvement of attitude of many countries to the considered cryptocurrency, in particular the USA, Germany, Spain, Canada, Australia, Israel and Scandinavian countries has been identified. The reasons of Ukraine’s interest in Bitcoin have been considered. Possibilities of creation of cryptocurrency on the territory of Ukraine have been analyzed, i.e. cost of electricity for mining, the legal status of mining firms, and the attitude of the National Bank of Ukraine to the digital currency. It has been concluded that the recognition of Bitcoin by the world countries in the future will allow it to be granted the status of world-wide currency.

  14. Economic impact of traditional medicine practice worldwide

    Directory of Open Access Journals (Sweden)

    Ana V. Pejcic

    2017-04-01

    Full Text Available The aim of this literature review was to summarize available findings from publications that reported expenditure on traditional/complementary and alternative medicine (TM/CAM within a representative general population sample of a nation or a defined geographical area. A total of 24 publications met the inclusion criteria and were included in the review. The expenditure on TM/CAM varies worldwide, but direct comparison of the findings of publications included in this review is limited due to the differences in the definitions of TM/CAM, inclusion of various forms of TM/CAM, use of different names and categorization, as well as differences in reported currencies and time periods in which data were collected. Data about the expenditure on TM/CAM in most countries throughout the world are scarce. Further national studies should be conducted in order to provide up-to-date assessment of the TM/CAM related expenditure patterns and use. Uniform nomenclature, definition of TM/CAM and standardized instruments would provide basis for comparability of data of studies conducted in various regions and time periods.

  15. Evolution of Toilets Worldwide through the Millennia

    Directory of Open Access Journals (Sweden)

    Georgios P. Antoniou

    2016-08-01

    Full Text Available Throughout history, various civilizations developed methodologies for the collection and disposal of human waste. The methodologies throughout the centuries have been characterized by technological peaks on the one hand, and by the disappearance of the technologies and their reappearance on the other. The purpose of this article is to trace the development of sewage collection and transport with an emphasis on toilets in ancient civilizations. Evolution of the major achievements in the scientific fields of sanitation with emphasis on the lavatory (or toilets technologies through the centuries up to the present are presented. Valuable insights into ancient wastewater technologies and management with their apparent characteristics of durability, adaptability to the environment, and sustainability are provided. Gradual steps improved the engineering results until the establishment of the contemporary toilet system, which provides a combined solution for flushing, odor control, and the sanitation of sewerage. Even though the lack of proper toilet facilities for a great percentage of the present day global population is an embarrassing fact, the worldwide efforts through millennia for the acquisition of a well-engineered toilet were connected to the cultural level of each period.

  16. Human water consumption intensifies hydrological drought worldwide

    International Nuclear Information System (INIS)

    Wada, Yoshihide; Van Beek, Ludovicus P H; Wanders, Niko; Bierkens, Marc F P

    2013-01-01

    Over the past 50 years, human water use has more than doubled and affected streamflow over various regions of the world. However, it remains unclear to what degree human water consumption intensifies hydrological drought (the occurrence of anomalously low streamflow). Here, we quantify over the period 1960–2010 the impact of human water consumption on the intensity and frequency of hydrological drought worldwide. The results show that human water consumption substantially reduced local and downstream streamflow over Europe, North America and Asia, and subsequently intensified the magnitude of hydrological droughts by 10–500%, occurring during nation- and continent-wide drought events. Also, human water consumption alone increased global drought frequency by 27 (±6)%. The intensification of drought frequency is most severe over Asia (35 ± 7%), but also substantial over North America (25 ± 6%) and Europe (20 ± 5%). Importantly, the severe drought conditions are driven primarily by human water consumption over many parts of these regions. Irrigation is responsible for the intensification of hydrological droughts over the western and central US, southern Europe and Asia, whereas the impact of industrial and households’ consumption on the intensification is considerably larger over the eastern US and western and central Europe. Our findings reveal that human water consumption is one of the more important mechanisms intensifying hydrological drought, and is likely to remain as a major factor affecting drought intensity and frequency in the coming decades. (letter)

  17. Dropping dead: causes and consequences of vulture population declines worldwide.

    Science.gov (United States)

    Ogada, Darcy L; Keesing, Felicia; Virani, Munir Z

    2012-02-01

    Vultures are nature's most successful scavengers, and they provide an array of ecological, economic, and cultural services. As the only known obligate scavengers, vultures are uniquely adapted to a scavenging lifestyle. Vultures' unique adaptations include soaring flight, keen eyesight, and extremely low pH levels in their stomachs. Presently, 14 of 23 (61%) vulture species worldwide are threatened with extinction, and the most rapid declines have occurred in the vulture-rich regions of Asia and Africa. The reasons for the population declines are varied, but poisoning or human persecution, or both, feature in the list of nearly every declining species. Deliberate poisoning of carnivores is likely the most widespread cause of vulture poisoning. In Asia, Gyps vultures have declined by >95% due to poisoning by the veterinary drug diclofenac, which was banned by regional governments in 2006. Human persecution of vultures has occurred for centuries, and shooting and deliberate poisoning are the most widely practiced activities. Ecological consequences of vulture declines include changes in community composition of scavengers at carcasses and an increased potential for disease transmission between mammalian scavengers at carcasses. There have been cultural and economic costs of vulture declines as well, particularly in Asia. In the wake of catastrophic vulture declines in Asia, regional governments, the international scientific and donor communities, and the media have given the crisis substantial attention. Even though the Asian vulture crisis focused attention on the plight of vultures worldwide, the situation for African vultures has received relatively little attention especially given the similar levels of population decline. While the Asian crisis has been largely linked to poisoning by diclofenac, vulture population declines in Africa have numerous causes, which have made conserving existing populations more difficult. And in Africa there has been little

  18. Financial Advice: Who Pays

    Science.gov (United States)

    Finke, Michael S.; Huston, Sandra J.; Winchester, Danielle D.

    2011-01-01

    Using a cost-benefit framework for financial planning services and proprietary data collected in the summer of 2008, the client characteristics that are associated with the likelihood of paying for professional financial advice, as well as the type of financial services purchased, are identified. Results indicate that respondents who pay for…

  19. Financial Sector Assessment : Morocco

    OpenAIRE

    World Bank; International Monetary Fund

    2017-01-01

    A joint International Monetary Fund (IMF)-World Bank mission visited Rabat and Casablanca in 2015, to assess the soundness and resilience of the banking system, the state of play in financial inclusion and infrastructure, the oversight frameworks for banking, capital markets and financial market infrastructures, crisis preparedness, and update the findings of the Financial Sector Assessme...

  20. Invest in Financial Literacy

    Science.gov (United States)

    Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.

    2012-01-01

    The current state of the economy elevates the need to build awareness of financial markets and personal finance among the nation's young people through implementing a financial literacy curriculum in schools. A limited amount of time spent on financial literacy can have a positive effect on students' budgeting skills. This knowledge will only add…

  1. Marketing Financial Aid

    Science.gov (United States)

    Huddleston, Thomas, Jr.; Batty, Burt F.

    1978-01-01

    Student financial assistance services are becoming a major part of the institutional marketing plan as traditional college-age students decline in numbers and price competition among institutions increases. The effect of financial aid on enrollment and admissions processes is discussed along with the role of the financial aid officer. (Author/LBH)

  2. Financial Markets and Compliance

    NARCIS (Netherlands)

    van de Laar, T.A.H.M.; Bleker, Sylvie; Houben, Raf

    2017-01-01

    This chapter will focus on the goals of financial market regulation through the rules of economics, the strategies financial regulation employs to achieve these goals and the insights this provides for the compliance profession. For an overview of the goals and strategies of financial regulation

  3. Essays on financial liberalization

    NARCIS (Netherlands)

    Bumann, Silke

    2015-01-01

    This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that

  4. TeleFood: a worldwide appeal.

    Science.gov (United States)

    1997-12-01

    In 1997, the UN Food and Agriculture Organization (FAO) broadcast its first global television program on the theme of "Food for All" to an audience of approximately 450 million viewers. The objective of "TeleFood" was to raise awareness of the scale of the problem and to encourage solidarity in the fight against hunger. TeleFood raised funds to support the FAO's Special Programme for Food Security (SPFS) and similar grassroots projects that target rural people in developing countries. The SPFS project, now operational in 19 countries and being formulated in 32 more, emphasizes national ownership, farmer participation, environmental awareness, and recognition of the role of women in food production and marketing. The 3-year SPFS pilot phase involves 1) small-scale water harvesting, irrigation, and drainage; 2) sustainable intensification of crop production; 3) diversification of production; and 4) removal of policies that impede food security. Results to date include 1) greatly increased maize and potato yields in Bolivia and more modest increases in Nepal; 2) doubled yields of maize and rice in Tanzania; and 3) expansion of the area under low-cost irrigation in Zambia. South-South cooperation is allowing some developing countries to benefit from experience gained in other developing countries. The pilot activities are being funded with an increasing number of "soft" loans from governments and financial institutions.

  5. MARKETING STRATEGY OF RUP «BMZ» IN THE PERIOD OF WORLD FINANCIAL-ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    V. V. Zaitsev

    2010-01-01

    Full Text Available The marketing strategy of RUP «BMZ» in the period of worldwide financial-economic crisis is disclosed. It is shown that it is aimed at the maximum increase of export in all directions.

  6. Epidemiology of foodborne diseases: a worldwide review.

    Science.gov (United States)

    Todd, E C

    1997-01-01

    Acute foodborne disease infections and intoxications are much more of a concern to governments and the food industry today than a few decades ago. Some of the factors that have led to this include the identification of new agents that have caused life-threatening conditions; the finding that traditional agents are being associated with foods that were of no concern previously: an increasing number of large outbreaks being reported; the impact of foodborne disease on children, the aging population and the immunocompromised; migrant populations demanding their traditional foods in the countries of settlement; the ease of worldwide shipment of fresh and frozen food; and the development of new food industries, including aquaculture. However, to meaningfully monitor increases or decreases in foodborne disease requires an effective surveillance system at the local, national and international levels. To date, resources have been limited for most countries and regions to do this, and our current knowledge is based, for the most part, on passive reporting mechanisms. Laboratory isolation data and reports of notifiable diseases have some value in observing timely changes in case numbers of some enteric diseases, but they usually do not indicate the reasons for these trends. Special epidemiological studies are useful for the area covered, but it is often questionable whether they can be extrapolated to other areas or countries. Outbreak investigations tell us that a certain set of circumstances led to illness and that another outbreak may occur under similar but not necessarily identical conditions. Control programmes have often been triggered by the conclusions from investigations of specific outbreaks. Unfortunately, the agent/ food combination leading to illness in many of the reported incidents were not predicted from existing databases, and no doubt foodborne agents will continue to surprise food control agencies in the foreseeable future. Nevertheless, data from around

  7. Worldwide QA networks for radiotherapy dosimetry

    International Nuclear Information System (INIS)

    Izewska, J.; Svensson, H.; Ibbott, G.

    2002-01-01

    A number of national or international organizations have developed various types and levels of external audits for radiotherapy dosimetry. There are three major programmes who make available external audits, based on mailed TLD (thermoluminescent dosimetry), to local radiotherapy centres on a regular basis. These are the IAEA/WHO TLD postal dose audit service operating worldwide, the European Society for Therapeutic Radiology and Oncology (ESTRO) system, EQUAL, in European Union (EU) and the Radiological Physics Center (RPC) in North America. The IAEA, in collaboration with WHO, was the first organization to initiate TLD audits on an international scale in 1969, using mailed system, and has a well-established programme for providing dose verification in reference conditions. Over 32 years, the IAEA/WHO TLD audit service has checked the calibration of more than 4300 radiotherapy beams in about 1200 hospitals world-wide. Only 74% of those hospitals who receive TLDs for the first time have results with deviation between measured and stated dose within acceptance limits of ±5%, while approximately 88% of the users that have benefited from a previous TLD audit are successful. EQUAL, an audit programme set up in 1998 by ESTRO, involves the verification of output for high energy photon and electron beams, and the audit of beam parameters in non-reference conditions. More than 300 beams are checked each year, mainly in the countries of EU, covering approximately 500 hospitals. The results show that although 98% of the beam calibrations are within the tolerance level of ±5%, a second check was required in 10% of the participating centres, because a deviation larger than ±5% was observed in at least one of the beam parameters in non-reference conditions. EQUAL has been linked to another European network (EC network) which tested the audit methodology prior to its application. The RPC has been funded continuously since 1968 to monitor radiation therapy dose delivery at

  8. Does financial literacy improve financial inclusion? Cross country evidence

    OpenAIRE

    Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas

    2017-01-01

    While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding "access to finance", financial infrastructure and financial literacy are mainly substitutes. However, regarding the "use of financial services", the effect of higher financial literac...

  9. Worldwide marine radioactivity studies assessing the picture

    International Nuclear Information System (INIS)

    Povinec, P.P.; Togawa, O.

    1998-01-01

    A growing number of sources of radioactivity from human activities are found in the marine environment. They are known to include global nuclear fallout following atmospheric weapons tests, the Chernobyl accident, discharges of radionuclides from nuclear installations, past dumping of radioactive wastes, nuclear submarine accidents, contributions from nuclear testing sites, loss of radioactive sources, and the burn-up of satellites using radioisotopes as power sources. Overall, the world's marine environment contains radionuclides that differ from one region to another. Differences are due to dynamic marine environmental processes and the particular source of radionuclides in a region. Scientific assessments of marine radioactivity, therefore, require knowledge of both the source terms and oceanic processes. Radioactivity now is deposited unevenly over the world's oceans. Global fallout is known to be mainly due to nuclear weapon tests carried out in the 1960s. On the other hand, discharges from nuclear fuel reprocessing plants or past dumping of liquid and solid radioactive wastes generally are confined to more localized areas. Even so, soluble radionuclides have been transported over long distances by prevailing ocean currents. To estimate radionuclide inputs from local sources, scientists need to better understand the distribution of radionuclides throughout the world's oceans and seas. The understanding is important for analysing the results from scientific investigations of localized areas, such as part dumping sites, which then can be reviewed more thoroughly. As a contribution to fuller understanding of the marine environment, the IAEA's Marine Environment Laboratory (MEL) started a five-year project in 1996 entitled ''Research on Worldwide Marine Radioactivity (MARS)''. The work is supported by Japan's Science and Technology Agency (STA). This article briefly review this project, and describes related research activities and scientific investigations of MEL

  10. Electricity of the future: a worldwide challenge

    International Nuclear Information System (INIS)

    De Ladoucette, Ph.; Chevalier, J.M.; Barbaso, F.; Becache, P.; Belmans, P.; Brottes, F.; Chevet, P.F.; Chone, F.; David, A.; Delorme, Ph.; Hadjsaid, N.; Jalabert, M.; Julliard, Y.; Kott, B.; Lenoir, J.C.; Lewiner, C.; Maillard, D.; Moisan, F.; Pelletier, Ph.; Poniatowski, L.; Rozes, St.; Rytoft, C.; Sanchez Jimenez, M.; Seyrling, G.; Vu, A.

    2010-01-01

    The increase of power consumption, the development of renewable energy sources and the emergence of new usages like the electric-powered car are as many challenges that put the reliability and the reactivity of our power grids to the test. These grids have to change to become 'intelligent' thanks to the integration of new information and communication technologies over the overall supply chain, from the energy generation to its end use by consumers. For the first time in France, the actors of this change explain their opinion about this revolution and put it in perspective with its full extent and complexity. Changing power grids to make them intelligent is first of all a technical challenge but also a society challenge: the consumer will become an actor involved in the mastery of his energy demand and a renewable energy producer capable to interact with the grid in an increasing manner. This worldwide change that we are going to be the witnesses comes up against numerous obstacles. The aim of this book is to examine the determining factors of the success of this large scale change through its technical, economical and social dimensions. It shows that the emergence of such an advanced power system cannot be possible neither without the reconciliation between some contradictory goals, nor without a strong coordination between the actors. Content: Part 1 - intelligent power networks to answer the 21. century challenges: 1 - the European and French dimension of the electric power sector; 2 - towards a carbon-free economy; 3 - a power grid facing new challenges; 4 - the pre-figuration of intelligent power grids; 5 - the deployment of intelligent (smart) grids; Part 2 - perspectives of smart grids development: 1 - the future of power networks; 2 - a new industrial era; Part 3 - the consumer's position in the deployment of future grids: 1 - changing behaviours; 2 - making the consumer a 'consum'actor'. Synthesis and conclusion. (J.S.)

  11. Worldwide trend of atmospheric mercury since 1995

    Directory of Open Access Journals (Sweden)

    F. Slemr

    2011-05-01

    Full Text Available Concern about the adverse effects of mercury on human health and ecosystems has led to tightening emission controls since the mid 1980s. But the resulting mercury emissions reductions in many parts of the world are believed to be offset or even surpassed by the increasing emissions in rapidly industrializing countries. Consequently, concentrations of atmospheric mercury are expected to remain roughly constant. Here we show that the worldwide atmospheric mercury concentrations have decreased by about 20 to 38 % since 1996 as indicated by long-term monitoring at stations in the Southern and Northern Hemispheres combined with intermittent measurements of latitudinal distribution over the Atlantic Ocean. The total reduction of the atmospheric mercury burden of this magnitude within 14 years is unusually large among most atmospheric trace gases and is at odds with the current mercury emission inventories with nearly constant anthropogenic emissions over this period. This suggests a major shift in the biogeochemical cycle of mercury including oceans and soil reservoirs. Decreasing reemissions from the legacy of historical mercury emissions are the most likely explanation for this decline since the hypothesis of an accelerated oxidation rate of elemental mercury in the atmosphere is not supported by the observed trends of other trace gases. Acidification of oceans, climate change, excess nutrient input and pollution may also contribute by their impact on the biogeochemistry of ocean and soils. Consequently, models of the atmospheric mercury cycle have to include soil and ocean mercury pools and their dynamics to be able to make projections of future trends.

  12. COMPANY ACTIVITY FINANCIAL RISK

    Directory of Open Access Journals (Sweden)

    Caruntu Genu Alexandru

    2012-12-01

    Full Text Available In economic and financial activity, risk is an inherent financial decisions, encountered in daily agenda of managers of companies. Unexpected changes in the price of a product development not only affect the financial results of a company, but can cause even bankruptcy. In fact, the nature of financial decisions involve uncertainty. Financial decisions are made based on cash flows under future contracts, which are par excellence incerte.Activitatea an enterprise that holds any weight in the industry is subject to risks, since it can not predict with certainty different components of its outcome (cost, quantity, price and operating cycle (purchase, processing, sales.

  13. FINANCIAL INSTABILITY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Cristian, IONESCU

    2014-11-01

    Full Text Available The aim of this paper is to empirically study the concept of financial stability in Romania, from both a monetary policy perspective and a financial perspective. In this paper, I also compute an aggregate index of financial stability, for the period 2008-2013, explaining the correlations between several extremely important macroeconomic and sectorial variables and financial stability. The article also debates the aspect of policy instruments that aim to promote, highlighting the undertaken measures and also giving some measures recommendations, pointing out the main pillars: crises management; cross-sectoral challenges; banking sector; securities markets and capital markets; insurance sector; pensions sector; access to financial services.

  14. Interactive Financial Charts- Agency Financial Reports

    Data.gov (United States)

    General Services Administration — For a visual depiction of GSA's Balance Sheet and Statement of Net Cost, please use the interactive charts to view the financial results for fiscal years 2007-2013.

  15. THE GLOBAL FINANCIAL CRISIS AND NATIONAL FINANCIAL ...

    African Journals Online (AJOL)

    propose solutions aimed at reducing the effects of global financial crisis by ... rates of return leading to more investment and higher growth for developing countries. .... capital can without notice turn into outflows as it did in Russia and East Asia.

  16. Global Financial Governance: a Perspective from the International Monetary Fund

    Directory of Open Access Journals (Sweden)

    Ryszard Wilczyński

    2011-03-01

    Full Text Available An environment for the activities of the International Monetary Fund (the IMF has fundamentally changed over the two recent decades. The strong development of financial innovations as well as of financial globalisation was among major forces driving the change and shaping the economic growth worldwide. As some economies were able - with the support from financial markets – to accelerate their growth, other countries suffered from turbulences, which were reinforced and transferred internationally through the volatile financial markets. The process of international financial contagion makes the case for global financial governance, which so far has been left behind the development of markets. The IMF is mandated to play a central role in the global governance designed to ensure financial stability. The article reconsiders the Fund’s role and includes an overview and assessment of its activities, particularly in the context of the global financial crisis in 2007-2010. In the aftermath of this crisis, the international financial stability may, however, again be at risk as several external imbalances in the global economy may be hardly sustainable. It is argued in the paper that, in addition to a gradually improving surveillance and lending as well as to adjusting resources by the Fund, an enhanced credibility of the institution is needed so that its role in the process of the stabilising global financial system is strong and effective.

  17. Presenting practice financial information.

    Science.gov (United States)

    Webster, Lee Ann H

    2007-01-01

    Medical practice leadership teams, often consisting primarily of physicians with limited financial backgrounds, must make important business decisions and continuously monitor practice operations. In order to competently perform this duty, they need financial reports that are relevant and easy to understand. This article explores financial reporting and decision-making in a physician practice. It discusses reports and tools, such as ratios, graphs, and comparisons, that practices typically include in their reports. Because profitability and cash flow are often the most important financial considerations for physician practices, reports should generally focus on the impact of various activities and potential decisions upon these concerns. This article also provides communication tips for both those presenting practice financial information and those making the decisions. By communicating effectively, these leaders can best use financial information to improve decision-making and maximize financial performance.

  18. Worldwide Anti-Money Laundering: Regulation: Estimating the Costs and Benefits

    OpenAIRE

    D. Masciandaro; R. Barone

    2008-01-01

    The aim of this article is to offer a simple framework for estimating the benefits and costs of anti-ML regulation, based on a prudent estimation of the economic value of worldwide money laundering. Using the multiplier model of the relationship between criminal markets revenues and money laundering activities and data for 2004, the value of money laundering is equal to US$1.2 trillion (2.7% of the world GDP), while the maximum theoretical benefit in combating money laundering using financial...

  19. A worldwide fuel strategy by AREVA

    International Nuclear Information System (INIS)

    Bordy, Michel

    2004-01-01

    Operating as a global company, inside AREVA the Fuel Sector implements a common strategy among three Business Units of fuel activities. These Business Units which are in Framatome ANP Zirconium, Manufacturing and Design and Sales Units, are operated in Germany (former Siemens activity), in USA (former BWFC Babcock and Wilcox Fuel Co,. and SPC Siemens Power Co. activities), in Belgium and in France (former Framatome activity). They have resources and facilities which are cooperatively working on R and D, engineering, project management, sales and services to achieve synergy on a cross-business basis. Based on its experience of worldwide activities and taking advantage of its diversified fuel design knowledge, Framatome ANP proposes a full range of fuel products and services on the BWR and PWR markets. With the ability to supply all fuel assembly arrays and fuel pellet types, supplemented by the range of stationary and movable core components, and completed by a full-range of on-site fuel services and performance of fuel packing and delivery, Framatome ANP is positioned as a major participant on the world fuel market. Today, Framatome ANP takes advantage of the cross-fertilization in the short term of existing products which include four original PWR fuel designs of HTP TM alloy as the reference material for cladding tubes, guide thimbles, and grids, -- Gradual incorporation of the valuable high-stiffiness MONOBLOC tM guide thimble, -- Progressive integressive integration of the High Mechanical Performance (HMP) Inconel end grid, -- Planned standardization of mechanical components such as nozzles, holddown systems and top and bottom connections. As a continuation of its existing technology, Framatome ANP is developing improved technical features within the scope of the Alliance fuel assembly qualification program. With an irradiation program ranging up to a burnup of 70 MWd/kgU expected to be reached in 2006, Alliance shows excellent behaviour with very low corrosion

  20. Nuclear power worldwide: Status and outlook

    International Nuclear Information System (INIS)

    2008-01-01

    environmental constraints such as entry-into-force of the Kyoto Protocol and the European carbon trading scheme mean there is now a real financial benefit to avoiding greenhouse gas emissions, adding to the appeal of low-carbon electricity generation, including nuclear power and renewables. The complete nuclear power chain - including uranium mining, reactor construction and waste disposal - emits only 3 - 24 grams of carbon dioxide per kilowatt-hour, about the same as wind and hydro power, and well below coal, oil and natural gas, Mr. Rogner added. The IAEA provides energy planning assistance to its 145 member states. When a state considers launching a nuclear energy programme for the first time, the IAEA has established a set of milestones for it to follow. Audio Q and A with IAEA, is available here. For further information, please contact: IAEA Division of Public Information, Media and Outreach Section, tel. [43-1] 2600-21273. For further details on the current status of the nuclear industry, go to the IAEA's Power Reactor Information System (PRIS). Related Resources: Nuclear's Great Expectations; Energy, Electricity and Nuclear Power Estimates for the Period up to 2030, Report; Nuclear Power in Focus. (IAEA)

  1. Evaluating the financial performance of agri-food firms: a multicriteria decision-aid approach

    NARCIS (Netherlands)

    Kalogeras, N.; Baourakis, G.; Zopounidis, C.; Dijk, van G.

    2005-01-01

    Food economists and financial researchers have long been preoccupied by the issue of evaluating the performance of agri-food firms. As the financial restructuring of the agri-business sector during the past two decades or so reflects sweeping changes that have occurred worldwide, questions have

  2. The World Financial Crisis

    OpenAIRE

    F. Gerard Adams

    2009-01-01

    The world financial crisis of 2008 is a consequence of new financial technologies, new accounting methods and new international linkages. These developments have come at a time when governments have returned to an old-fashioned freemarket philosophy. This paper links the systemic financial/economic crisis of 2008 to the new economy developments, globalisation and policy philosophy perspectives of recent decades. It raises the question of how to re-establish confidence once traditional thinkin...

  3. Taxing Financial Activity

    OpenAIRE

    Jack M. Mintz

    2003-01-01

    In most countries, substantial business activity is related to financial intermediation: banking, trusts, investment companies and insurance. Financial businesses play a crucial role in the economy by matching lenders with borrowers as well as facilitating governance of businesses through close monitoring of funds lent to businesses. Financial institutions also reduce risk faced by investors by pooling investments over many different types of business activities and insuring against property,...

  4. Inflation expectations in the Czech interbank market

    Czech Academy of Sciences Publication Activity Database

    Fukač, Martin

    -, č. 253 (2005), s. 1-30 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : inflation expectations * nominal interest rate * Fisher rule Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp253.pdf

  5. RTE - 2012 financial results

    International Nuclear Information System (INIS)

    Ricour, Olivia; Marguier, Marina; Lartigau, Thierry

    2013-01-01

    The mission of RTE, the French electricity Transportation grid, a public service assignment, is to balance the electricity supply and demand in real time. This report presents RTE's financial results for 2012: increase of investments for services to clients, performance results, financial balance, stability of the economical model. RTE's regulated economical model, main financial indicators, 2007-2012 investments, 2012 investments by category, 2012 turnover, 2012 costs structure, taxes, financial balance sheet at the end of 2012, and the share of electricity transport in the electricity price are presented in appendixes

  6. Domesticizing Financial Economies

    DEFF Research Database (Denmark)

    Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana

    show. Third, the “domestication of financial economies”: financial literacy programs developed by governmental bodies, international organizations, and banks have become a ubiquitous layer attached to the assemblage of financial economies in many countries. And last but not least, “domesticizing social...... practices as well as the precise way financial providers are evaluating, sorting and targeting their consumers. We believe these diverse trends are starting to converge, and the ambitions of this paper are both to organize scattered literature and to reflect upon the consequences of the new field...

  7. Forecasting Financial Stress

    OpenAIRE

    Jan Willem Slingenberg; Jakob de Haan

    2011-01-01

    This paper uses a Financial Stress Index (FSI) for 13 OECD countries to examine which variables can help predicting financial stress. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. We employ three criteria for indicators to be used in constructing a multi-country FSI (the index covers the entire financial system, indicators used are available at a high frequency for many countries for a long period, and are comparable) to c...

  8. The world at a crossroads: Financial scenarios for sustainability

    International Nuclear Information System (INIS)

    Carnicer, Jofre; Peñuelas, Josep

    2012-01-01

    The global financial system is a major component of our global society. The available analyses of sustainability, however, have poorly assessed the role of the financial system in scenarios of future global change. Here we contrast current global flows in the financial system with the future economic costs of a worldwide transition to renewable energies under the baseline and 450 ppm scenarios for emissions of greenhouse gases proposed by the IPCC. We show that annual global financial flows are three orders of magnitude greater than the annual economic costs of policies for global sustainability. A small global tax on financial transactions of 0.05% could thus provide the required funds for the deployment of renewable energies. To assess the roles of the financial sector in future policies for sustainability, we identified 14 key international actors and enumerated 16 key policies for sustainability that should be implemented to achieve effective global ecological and financial sustainability. We conclude that the proposed structural reforms to the financial system are essential steps urgently required for financing a global transition to a sustainable economy. Consequently, we suggest that the international scientific community should urgently pursue an academic consensus on policy recommendations for the financial sector.

  9. Financial Wealth Distribution in Revised Financial Accounts

    Directory of Open Access Journals (Sweden)

    Václav Rybáček

    2012-09-01

    Full Text Available Financial statistics undergo dynamic evolution as apparent consequence of their rising importance. Structureof assets, source of fi nancing, price changes or net fi nancial position, all these indicators can detect oncomingfi nancial instability. Financial statistics as a logical extension of the national accounts provide such information.Th e aim of the following text is to present fi nancial statistics, relation between particular accounts, the impact of extraordinary revision carried out in 2011, and also to analyse current wealth distribution as described by fi nancial statistics.

  10. The Internet and the Future of Financial Services: Transparency, Differential Pricing and Disintermediation

    OpenAIRE

    Eric K. Clemons; Lorin M. Hitt

    2000-01-01

    The Internet has had a profound effect on the financial service sector, dramatically changing the cost and capabilities for marketing, distributing and servicing financial products and enabling new types of products and services to be developed. This is especially true for retail financial services where widespread adoption of the Internet, the standardization provided by the world-wide web, and the low cost of Internet communications and transactions have made it possible to reach customers ...

  11. The Usefulness of Financial Statements in Making Financial Diagnosis

    Directory of Open Access Journals (Sweden)

    Mitica Pepi

    2016-01-01

    Full Text Available Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.

  12. Corporate financial restructuring in Asia: implications for financial stability

    OpenAIRE

    Michael Pomerleano

    2007-01-01

    Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial practices bode well for financial stability.

  13. Financial Services Marketing.

    Science.gov (United States)

    Olson, Lucretia Maria

    This manual contains student assignments in the financial services area of the marketing process. The individualized competency-based materials are intended to enhance and supplement instruction or to provide the basis for a course of instruction by the teacher-coordinator. Information on skills needed in jobs in financial marketing is first…

  14. Sources of Financial Sociability

    DEFF Research Database (Denmark)

    Thompson, Grahame

    2011-01-01

    This article investigates the sources of sociability in modern financial systems as a prelude to assessing the prospects for financial regulation. Three sources are identified: sociality dependent upon contract, upon relational interdependency, and upon the operation of will and passion. Each of ...

  15. Financial Rogue Waves

    International Nuclear Information System (INIS)

    Yan Zhenya

    2010-01-01

    We analytically give the financial rogue waves in the nonlinear option pricing model due to Ivancevic, which is nonlinear wave alternative of the Black-Scholes model. These rogue wave solutions may he used to describe the possible physical mechanisms for rogue wave phenomenon in financial markets and related fields.

  16. Household financial behavior

    NARCIS (Netherlands)

    Brounen, Dirk; Koedijk, Kees; Pownall, Rachel

    2016-01-01

    Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial

  17. Understanding financial statements.

    Science.gov (United States)

    Tarantino, D P

    2001-01-01

    In his premier column for The Physician Executive, David Tarantino takes a look at those critical "financials" that can make or break a business. If you're considering a career move, you need to know the financial condition of future employers. Learn how to read the statements and glean valuable information from the numbers.

  18. Optimal Fragile Financial Networks

    NARCIS (Netherlands)

    Castiglionesi, F.; Navarro, N.

    2007-01-01

    We study a financial network characterized by the presence of depositors, banks and their shareholders. Belonging to a financial network is beneficial for both the depositors and banks' shareholders since the return to investment increases with the number of banks connected. However, the network is

  19. Consolidating Financial Statements.

    Science.gov (United States)

    Wood, Marcia R.

    This publication is designed to be a desktop reference and assist financial officers in both public and independent institutions of higher education in the preparation of consolidated financial statements. Chapter 1 covers generally accepted accounting principles and other accounting literature, and summarizes reporting rules of the Financial…

  20. Illiquidity and financial crisis

    NARCIS (Netherlands)

    A.M. Pacces (Alessio)

    2013-01-01

    textabstractThis article analyzes the determinants of liquidity crises based on the dynamics of banking and finance under Knightian uncertainty. In this perspective, the facts of the global financial crisis seem to confirm Minsky's hypothesis of endogenous financial instability derived from Keynes's

  1. Financial Sector Assessment : Morocco

    OpenAIRE

    World Bank

    2003-01-01

    This Financial Sector Assessment (FSA) provides a summary of the policy priorities, and main findings intended to assist the Moroccan authorities in evaluating the country's financial system. It reviews the uneasy trade-off between concerns for stability, and development, suggesting Morocco's macroeconomic policies and practices as a whole tend to err more on the side of the concerns of pr...

  2. Financial Sector Assessment : Turkey

    OpenAIRE

    World Bank

    2007-01-01

    A joint International Monetary Fund-World Bank team conducted an assessment of Turkey's financial system in connection with the Financial Sector Assessment Program (FSAP) through missions in April, August-September 2006 and March, 2007. This report provides a summary of the main findings of the assessment and the policy priorities identified. The main objective of the FSAP is to assist the...

  3. Financial Sector Assessment : Mongolia

    OpenAIRE

    World Bank

    2012-01-01

    Owing primarily to extensive investment in new mining projects, Mongolia's economy is on a path of very rapid long-term growth. While financial intermediation in Mongolia has been growing fast, access to finance remains a critical constraint for enterprises, and especially for Small and Medium Enterprises (SMEs). Improving access to financial services will require strengthening the legal a...

  4. Trusts and Financialization

    DEFF Research Database (Denmark)

    Harrington, Brooke

    2017-01-01

    the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive......This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital...... and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth....

  5. Fundamentals of Financial Statements Audit

    OpenAIRE

    World Bank

    2011-01-01

    The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. The objective of an audit of financial statements is to enable an auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards or another identified financial reporting fr...

  6. Framework for Financial Ratio Analysis of Audited Federal Financial Reports

    National Research Council Canada - National Science Library

    Brady, Richard

    1999-01-01

    .... With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations...

  7. Quality of Financial Policies and Financial System Stress

    OpenAIRE

    Udaibir S Das; Plamen Yossifov; Richard Podpiera; Dmitriy L Rozhkov

    2005-01-01

    In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

  8. Why Financial Advice Cannot Substitute for Financial Literacy?

    OpenAIRE

    M. Debbich

    2015-01-01

    This paper examines the ability of financial advice provided by sellers of financial services to substitute for financial literacy of customers. I set up a simple theoretical model in which an informed financial advisor communicates with a less informed customer of financial services. Given the existence of a conflict of interest from the advisor's perspective, the model predicts that only well financially sophisticated customers receive relevant information from the advisor. This fact tends ...

  9. Disclosure of Non-Financial Information: Relevant to Financial Analysts?

    OpenAIRE

    ORENS, Raf; LYBAERT, Nadine

    2013-01-01

    The decline in the relevance of financial statement information to value firms leads to calls from organizational stakeholders to convey non-financial information in order to be able to judge firms' financial performance and value. This literature review aims to report extant literature findings on the use of corporate non-financial information by sell-side financial analysts, the information intermediaries between corporate management and investors. Prior studies highlight that financial ana...

  10. Financial globalisation uncertainty/instability is good for financial development

    OpenAIRE

    Asongu, Simplice A.; Koomson, Isaac; Tchamyou, Vanessa S.

    2015-01-01

    Purpose – This study assesses the effect of time-dynamic financial globalisation uncertainty on financial development in 53 African countries for the period 2000-2011. Design/methodology/approach – Financial globalisation uncertainty is estimated as time-dynamic to capture business cycle disturbances while all dimensions identified by the Financial Development and Structure Database of the World Bank are employed, namely: financial depth (money supply and liquid liabilities), financial sy...

  11. Be Vigilant on Financial Statements.

    Science.gov (United States)

    Freed, DeBow

    2002-01-01

    Highlights areas on university's financial statements that warrant careful review by trustees and suggests ways they can check to see whether an institution's financial statements are clear and valid indicators of its financial status. (EV)

  12. The instruments of financial planning

    OpenAIRE

    Durnov, V.

    2011-01-01

    The paper analyzes financial planning efficiency for enterprise management improvement. The author describes the system of financial tools and considers in detail financial planning methods, their strengths and weaknesses

  13. Framing financial culture

    DEFF Research Database (Denmark)

    Just, Sine Nørholm; Mouton, Nicolaas T.O.

    2014-01-01

    between competing frames leads to the conclusion that this political “blame game” is related to struggles over how to define the scandal, how to conceptualize its causes, and policy recommendations. Banks may have lost the battle of “Liborgate,” but the war over the meaning of financial culture is far...... from over. Originality/value – The paper is theoretically and methodologically original in its combination of the theories of framing and stasis, and it provides analytical insights into how sense is made of financial culture in the wake of the financial crisis....

  14. The Geography of Financial Literacy

    OpenAIRE

    Christopher Bumcrot; Judy Lin; Annamaria Lusardi

    2013-01-01

    This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the...

  15. Childhood roots of financial literacy

    OpenAIRE

    Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas

    2015-01-01

    Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...

  16. Consumer's Negative emotions, Financial Decisions, Financial Advice

    OpenAIRE

    Konstantaki, Violetta

    2007-01-01

    Abstract The purpose of this study is to explore the consumers decision making process. In particular, this study attempts to examine consumers negative emotions, which elicit during a decision processing. Especially, the case of a financial decision will be examined. Moreover, consumers negative emotion will be investigated in relation with consumers coping behaviour. To be more specific, the option of seeking advice as a successful consumers coping behaviour will be explor...

  17. Financial satisfaction and financial stressors in marital satisfaction.

    Science.gov (United States)

    Archuleta, Kristy L; Britt, Sonya L; Tonn, Teresa J; Grable, John E

    2011-04-01

    Using a sample of 310 married respondents from one U.S. Midwestern state, a test was conducted to examine the association of financial satisfaction and financial stressors in a spouse's decision to stay married to the same person or leave the relationship. The role of demographic and socioeconomic variables, religiosity, psychological constructs, financial satisfaction, and financial stressors as factors influencing marital satisfaction was tested. Financial stressors were measured using a list of financial stressors adapted from the literature. Financial satisfaction was measured with a one-item scale. The Kansas Marital Satisfaction Scale was used as a validation tool to assess whether individuals would marry or not marry again. Religiosity and financial satisfaction were positively associated with marital satisfaction. A negative interaction between financial satisfaction and financial stressors was also noted. Findings suggest that respondents who are financially satisfied tend to be more stable in their marriages.

  18. Financial Performance Analysis Of Financial Service Cooperative

    Directory of Open Access Journals (Sweden)

    Eyo Asro Sasmita

    2015-08-01

    Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables

  19. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects...

  20. Morocco - Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The final evaluation of the Financial Services Project (FSP), undertaken by North South Consultants Exchange (NSCE), was undertaken from 17 April to end of September...

  1. CEA financial report 2007

    International Nuclear Information System (INIS)

    2007-01-01

    This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)

  2. Rio 2016 financial statements

    OpenAIRE

    2015-01-01

    These documents include the report from independent auditors balance sheet, the statement of income, the statement of changes in equity, the statement of cash flows and the explanatory notes to the financial statements.

  3. Financial Services Industry

    National Research Council Canada - National Science Library

    Arezo, Gullab; Billingslea, Willie D; Brooks, James V; Brown, Jeffery D; Cotton, Cheryl; Determan, Deborah A; Dzurenko, Monte S; Egentowich, John; Greenwald, Michael N; Keegan, Matthew

    2006-01-01

    .... The financial services industry impacts the daily lives of all Americans. They rely on it to save for their retirement and their children's education, pay their bills, insure against risks, and buy their homes and automobiles...

  4. Enron: a financial Tchernobyl?

    International Nuclear Information System (INIS)

    Nicolet, J.L.; Alazard, C.; Charron, J.L.

    2004-01-01

    ENRON is almost more striking as an epitome, a model, than as a scandal. It is the perfect illustration of the occurrence of a major financial risk with strong contaminating repercussions. Close examination of the measures taken after this scandal, and the many other scandals (WorldCom, Vivendi etc.) which followed it, indicates that financial risk does not only, as might be imagined on more superficial analysis, take its roots in fraudulent behaviour. On the contrary, fraudulent behaviour appears merely to act as a catalyst. The authors suggest that a global approach integrating the concepts of industrial risk management provides a far more appropriate prism through which to interpret and develop effective controls for financial risks. After recalling the main facts, they apply the concepts of cindynics (the science of danger) to the Enron case and rapidly reach a first major conclusion: the financial system does not have its foundations in any reliable system of measurement. (authors)

  5. Financial report - Annex H

    International Nuclear Information System (INIS)

    Sotic, O.

    1988-01-01

    This Annex includes financial report of the RA Reactor engineering group from 1987-1988. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water [sr

  6. Financial report - Annex H

    International Nuclear Information System (INIS)

    Sotic, O.

    1986-01-01

    This Annex includes financial report of the RA Reactor engineering group from 1981-1985. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water [sr

  7. Iceland's Financial Crisis

    National Research Council Canada - National Science Library

    Jackson, James K

    2008-01-01

    .... The collapse of the banks also raises questions for U.S. leaders and others about supervising banks that operate across national borders, especially as it becomes increasingly difficult to distinguish the limits of domestic financial markets...

  8. FINANCIAL CRISES AND TURKEY

    Directory of Open Access Journals (Sweden)

    MERT URAL

    2013-06-01

    Full Text Available Since the last three decades, in developed and developing counties the liberalization and openness efforts have been witnessed. However, financial liberalization attempts (both internal and external without having macroeconomic stability lead to financial crises in many developing countries. Macroeconomic instabilities create fragile financial markets paving the way for future economic crises. The Turkish Economy, completed the liberalization process with foreign trade liberalization in 1980 and by removing controls on capital accounts in 1989. However, since 1990’s economy got into ‘growth-instability-crisis’ vicious circle, because of the fluctuations in the financial structure. By employing a factor analysis (principal components analysis, this work, aims to obtain the factors that effect crises in Turkey.

  9. Review of History and Recent Development of Organic Farming Worldwide

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    The history of the organic farming worldwide was reviewed in this paper. The development of the organic farming worldwide had gone through three stages, emergence, expansion, and growth. The contributors and their thoughts during the different development stages of the organic farming were briefly introduced. And the development status of the organic farming worldwide was reviewed from the aspects of land area under organic management, land area under organic management in percentage of total agricultural area, and world markets for organic products. Besides, the main existing problems for the further development of the world's organic farming, as well as the development status, problems and strategies of the Chinese organic farming were discussed.

  10. Financial Resources of NGOs

    Directory of Open Access Journals (Sweden)

    Nicoleta Ciucescu

    2012-12-01

    Full Text Available Due to the low funding levels registered in recent years in the NGO sector in Romania, many NGOs have faced a number of difficulties, some of them have ceased to carry on business. Financial position of the governmental sector is poor, especially for large organizations that are strictly dependent on foreign funds. For the good functioning of NGOs activity, it is requiring a constant concern for finacial fundraising. The article aims to present the diversity of financial resources of NGOs.

  11. Le directeur financier

    OpenAIRE

    Mattiacci , Noëllie

    2015-01-01

    Following multiple economic crises, the Chief Financial Officer has become a major player within the company. Its missions have unquestionably evolved. Initially, he performed accounting missions ensuring effective financial management. Today, it occupies the strategic functions necessary to the development of the company. This diversity of skills allows him to have a global and cross-enterprise vision. Despite its leading role, no study was conducted concerning the determination of the legal...

  12. Financial Reporting Through IFRS

    OpenAIRE

    Doina Maria Tilea; Vasile Bleotu; Alexandra Ana Maria Serban

    2013-01-01

    Financial reporting using the latest version of IFRS (2011), a result of the IASB research in cooperation with the standardizers of the national accounting standards in order to achieve convergence in accounting standards around the world on the one hand, and on the other hand to provide a set of highly qualitative global accounting standards, requires transparent and comparable information of general purpose financial statements.

  13. Nuclear financial risk

    International Nuclear Information System (INIS)

    Heising, C.D.; George, V.P.

    1986-01-01

    This study examines the economy-wide financial risk associated with reactor accidents as a result of various regulatory response options that might be imposed after a serious accident, including partial or complete nuclear moratoria. The authors find that such risks may be two to three times greater than the plant-specific financial risk estimates that have previously been calculated by others (ie 500 million (1985) dollars per reactor year versus 5 to 50 million dollars). (author)

  14. Chaotic Financial Tornadoes

    Science.gov (United States)

    Jakimowicz, Aleksander

    In contemporary economies classic business cycles are increasingly changing their form undergoing a transformation into phenomena that have been nicknamed financial tornados. A generalization of the Lotka-Volterra model can be used to describe these fast-changing processes. Economically speaking, the most useful are such dynamical systems in which wormholes appear. This article features application of a model with one population of prey and two populations of predators in order to explain the global financial crisis and the consequent phenomena.

  15. First half financial report

    International Nuclear Information System (INIS)

    2003-01-01

    Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)

  16. DOE financial assurance presentation

    International Nuclear Information System (INIS)

    Huck, R.

    1990-01-01

    The presentation topic is California's approach to license application review in meeting financial assurances for the proposed Ward Valley site. The purpose of the presentation is to provide information on specific financial assurance provisions contained in 10 CFR Part 61 and how California intends to satisfy those requirements. Also, as rate setter, California intends to demonstrate how it will assure allowable costs to the rate base though a financial prudency review. The key provisions of financial assurance are: 10 CFR Section 61.61 - This provision requires an applicant to demonstrate its ability to finance licensed activities; 10 CFR Section 61.62 - This provision requires an applicant to provide assurance that sufficient funds will be available for site closure and stabilization; and 10 CFR Section 61.63 - This provision requires an applicant to provide 'a copy of a binding arrangement, such as a lease, between the applicant and the disposal site owner, so that sufficient funds will be available to cover the costs of the institutional control period.' To assist California in its determination of financial assurance compliance to be demonstrated by the applicant for Part 61 requirements, is NUREG guidance document 1199 'Standard Format and Content of a License Application for a Low-Level Radioactive Waste (LLRW) Disposal Facility.' The detailed financial assurance provisions of NUREG 1199 are then embodied in NUREG 1200, 'Standard Review Plant for the Review of a License Application for a LLRW Disposal Facility.'

  17. Vector financial rogue waves

    International Nuclear Information System (INIS)

    Yan, Zhenya

    2011-01-01

    The coupled nonlinear volatility and option pricing model presented recently by Ivancevic is investigated, which generates a leverage effect, i.e., stock volatility is (negatively) correlated to stock returns, and can be regarded as a coupled nonlinear wave alternative of the Black–Scholes option pricing model. In this Letter, we analytically propose vector financial rogue waves of the coupled nonlinear volatility and option pricing model without an embedded w-learning. Moreover, we exhibit their dynamical behaviors for chosen different parameters. The vector financial rogue wave (rogon) solutions may be used to describe the possible physical mechanisms for the rogue wave phenomena and to further excite the possibility of relative researches and potential applications of vector rogue waves in the financial markets and other related fields. -- Highlights: ► We investigate the coupled nonlinear volatility and option pricing model. ► We analytically present vector financial rogue waves. ► The vector financial rogue waves may be used to describe the extreme events in financial markets. ► This results may excite the relative researches and potential applications of vector rogue waves.

  18. Financial Coaching's Potential for Enhancing Family Financial Security

    Science.gov (United States)

    Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.

    2013-01-01

    Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…

  19. Financial Literacy as the Foundation for Individual Financial Behavior

    Science.gov (United States)

    Dwiastanti, Anis

    2015-01-01

    Research that is dealing with financial literacy turns to be such an important thing to be conducted. It is due to the fact that financial literacy level of Indonesian society is still very low. A good financial literacy is necessary for every individual to manage his/her finances to achieve prosperity. To have a good level of financial literacy,…

  20. Late Financial Distress Process Stages and Financial Ratios

    DEFF Research Database (Denmark)

    Sormunen, Nina; Laitinen, Teija

    2012-01-01

    stage affects the classification ability of single financial ratios and financial distress prediction models in short-term financial distress prediction. The study shows that the auditor's GC task could be supported by paying attention to the financial distress process stage. The implications...... of these findings for auditors and every stakeholder of business firms are considered....

  1. East Asian Financial Cycles: Asian vs. Global Financial Crises

    OpenAIRE

    Akira Kohsaka; Jun-ichi Shinkai

    2014-01-01

    We examine the role of financial shocks in business cycles in general and in financial crises in particular in East Asia (Indonesia, Korea, Malaysia and Thailand) since the 1990s. Estimating a Financial Conditions Index, we found that financial shocks explain most of business downturns in all the economies in the Asian Financial Crisis (AFC) in 1997-98, but that the effects of financial shocks are diverse across economies in the Global Financial Crisis (GFC) in 2008-09. In the GFC, the financ...

  2. THE FINANCIAL SECTOR IN THE FINANCIAL SYSTEM ECONOMY: THEORETICAL ASPECTS

    Directory of Open Access Journals (Sweden)

    Yu. Kovalenko

    2015-06-01

    Full Text Available Broad and narrow approaches of the financial system are obtained. The difference between the financial system and the financial sector (the fi-nancial corporations sector is shown. Organizational and institutional matrix of the financial system of the economy is proposed. Key positions of institutional sectors classification of Ukraine’s economy are analyzed, as well as the System of National Accounts with respect to the financial sec-tor of corporations. The structure of the sector of financial corporations in Ukraine is defined.

  3. a worldwide assessment of medical journal editors' practices and ...

    African Journals Online (AJOL)

    responding editors reported having access to the Internet, making participation in ... of improving the quality of medical science and practice.! A critical activity of ... undertook a worldwide survey of medical editors to determine their interest in a ...

  4. Financial Analysis of the Financial Institutions Sector in Kosovo

    Directory of Open Access Journals (Sweden)

    Vlora Prenaj

    2015-12-01

    Full Text Available Paper work “Financial analysis of the financial institutions sector in Kosovo” treats financial sector in Kosovo. Paper work contains the current position of the economy, economic prospects and macroeconomic projections for the financial sector in Kosovo, future potential and possibilities of financial sector in Kosovo. The main goal of this research is financial analysis of Kosovo financial institutions sector - overview of key indicators. This research evaluates the performances of commercial bank’s profitability, which have operated in the market during the period 2006-2012. This research is conducted through financial analysis coefficients: Return on Equity, Return on assets and Cost to Income. Test t-Student is used to analyze the profitability for the period 2006/2007 before the financial crisis and the period 2011/2012 after financial crisis.

  5. Worldwide prevalence and risk factors for feline hyperthyroidism: A review

    OpenAIRE

    Joanne L. McLean; Remo G. Lobetti; Johan P. Schoeman

    2014-01-01

    Since first reported in the late 1970s, there has been a steady but dramatic increase in the worldwide prevalence of hyperthyroidism in cats. It is now regarded as the most common feline endocrine disorder, with diabetes mellitus coming a close second. Not only is there evidence for an increased worldwide prevalence of feline hyperthyroidism, but also for geographical variation in the prevalence of the disease. Despite its frequency, the underlying cause(s) of this common disease is or are no...

  6. Evaluating a Financial Assessment Tool: The Financial Checkup

    OpenAIRE

    Johnson, Alena C.

    2001-01-01

    The purpose of this study was to evaluate The Financial Checkup program. The program consisted of a booklet called The Financial Checkup and a 1-1 y, hour workshop explaining the booklet. The booklet helps individuals evaluate their financial situation on an annual basis. It includes a net worth statement, an income and expense statement, financial ratios, a revolving savings worksheet, a retirement worksheet, a life insurance worksheet, a financial goals worksheet, and a budget worksheet. Th...

  7. Framework for financial ratio analysis of audited federal financial reports

    OpenAIRE

    Brady, Richard T.

    1999-01-01

    Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...

  8. Financial integration and financial development in transition economies: What happens during financial crises?

    Directory of Open Access Journals (Sweden)

    Igor Masten

    2011-12-01

    Full Text Available

    This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.

  9. RURAL FINANCIAL MARKETS: AN OVERVIEW

    OpenAIRE

    Spio, Kojo; Groenewald, Jan A.

    1997-01-01

    The paper seeks to present an in depth overview of rural financial markets in developing countries. Attention is given to the role of financial markets in the development process, approaches to rural finance in developing countries, and formal and informal financial markets. The pro and cons of the various financial markets were also considered.

  10. ICAF Financial Services Industry Study

    Science.gov (United States)

    2005-06-01

    Mishkin , Frederic S. and Stanley G. Eakins. Financial Markets + Institutions . Boston, MA: Addison Wesley. 2003... Financial Markets , Federal Reserve Bank of New York, 1998. Mishkin , Frederic S. and Eakins, Stanley G., Financial Markets + Institutions , Fourth...discussion of the industry would be complete without an understanding of the concept of moral hazard in the financial markets . According to Mishkin

  11. CONSIDERATIONS REGARDING FINANCIAL STABILITY

    Directory of Open Access Journals (Sweden)

    MERCEA PATRICIA AMALIA

    2018-02-01

    Full Text Available International economic conditions are projected to have a favorable path in 2018. Thus, accelerating investment in infrastructure and real estate in China, as well as expectations of fiscal loosening in the United States, lead to an increased expectation for enhancement of global trade flows and to strengthen investor confidence. Instead, Britain's decision to leave the European Union, as well as political uncertainty in some euro-zone countries, may cause temporary distortions but also implications for economies in the european region. On the other hand, the divergence of the Federal Reserve and the European Central Bank's monetary policies, as the US expects further increases in interest rates, can be reflected in the activity of the government bond market as a result of the reorientation of investors to assets with higher yield, a trend amplified by the context of the economic environment with low interest rates. Recent developments in the field of financial technology innovation are an important challenge for conventional financial market (payment and settlement infrastructures, especially in the context of multiple public and private initiatives and projects developed over the last few years. The digitization of financial services is an international concern due to the complexity of this phenomenon, and the lack of harmonized regulations and / or standards in the field. On the one hand, technological innovation in the field of payment systems has the potential to create a number of social benefits by improving access to financial services (financial inclusion. On the other hand, the integration of new technologies in the financial and banking field may imply additional information security risks, especially on payment and settlement systems. Financial technology innovation projects have also been developed by central banks in Europe, but also in America and Asia (for example in the UK, the Netherlands, Sweden, Canada, China and India. They

  12. PROFITABILITY AND FINANCIAL STABILITY

    Directory of Open Access Journals (Sweden)

    CĂRUNTU CONSTANTIN

    2011-09-01

    Full Text Available The business activity allows identifying two categories of flows: flows of results and cash flows. Flows affect the income and expenses, participating in training result, the company's profitability. Financial flows involved in their formation both monetary items (which drive the monetary input or output and thus implies a cash flow, and non-cash items (affecting the result, without leading to a cash flow. Are equally identifiable cash flows that do not involve an immediate effect on the outcome or effect on the result equivalent to that spread on the treasury. Financial equilibrium in a general manner evokes the idea of harmony between different elements of a system, which in finance is harmonization of resources with the needs. Financial equilibrium can be defined by the company's ability to secure payment of its proceeds without interruption to current liabilities incurred in implementing its object of activity or tax laws, so it can avoid the risk of bankruptcy. Maintaining financial stability is the essential condition of survival of the enterprise, financial and balanced assessment must take into account the concrete conditions of the occurrence of default.

  13. INSTABILITY MODELING OF FINANCIAL PYRAMIDS

    OpenAIRE

    Girdzijauskas, Stasys; Moskaliova, Vera

    2005-01-01

    The financial structures that make use of money flow for “easy money” or cheating purpose are called financial pyramids. Recently financial pyramids intensively penetrates IT area. It is rather suitable way of the fraud. Money flow modeling and activity analysis of such financial systems allows identifying financial pyramids and taking necessary means of precautions. In the other hand even investing companies that function normally when market conditions changes (e.g. interest rates) eventual...

  14. Balancing Responsibilities – Financial Literacy

    OpenAIRE

    Gail Pearson; Philip N Stoop; Michelle Kelly-Louw

    2017-01-01

    In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial li...

  15. Morocco; Financial System Stability Assessment

    OpenAIRE

    International Monetary Fund

    2003-01-01

    The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Co...

  16. The Role of the Public Administration and the Methods Used to Reduce the Effects of the Economic and Financial Crisis

    Directory of Open Access Journals (Sweden)

    Ion Popescu Slaniceanu

    2011-09-01

    Full Text Available The current worldwide economic crisis brought back into discussion a topic long debated in the legal scholarship, pertaining both to administrative law, as well as to corporate and financial law, namely the optimal relationship between the self-regulation of the corporate and financial sector and its regulation and auditing by the institutions of the public administration .

  17. Does financial education impact financial literacy and financial behavior, and if so, when?

    OpenAIRE

    Kaiser, Tim; Menkhoff, Lukas

    2017-01-01

    A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lowe...

  18. Dynamisms of Financialization

    DEFF Research Database (Denmark)

    Pedraza-Acosta, Isabel; Mouritsen, Jan

    2018-01-01

    and conditioned by calculative devices that mediate financialization processes? Drawing on a study of a French multinational corporation whose accounting devices – one concerning performance that requires suppliers to be ‘poor’ and another concerning risk that requires suppliers to be ‘rich’ – the article focuses......This article analyses the dominant ideological mode of rationality of financialization, its operationalization via accounting devices and deployments in political intra- and inter-organizational processes, and its dynamisms in global production networks. It asks how are political processes informed...... the suppliers went bankrupt, the multinational corporation was devoid of its industrial competencies. Financialization is ambiguous. Its devices are not inherently facilitative of systemic powers but reflect an ideological mode of rationality and political processes that produce overflows. The associated...

  19. ISSUERS OF FINANCIAL INSTRUMENTS

    Directory of Open Access Journals (Sweden)

    Cristian GHEORGHE

    2016-05-01

    Full Text Available The rules laid down by Romanian Capital Market Law and the regulations put in force for its implementation apply to issuers of financial instruments admitted to trading on the regulated market established in Romania. But the issuers remain companies incorporated under Company Law of 1990. Such dual regulations need increased attention in order to observe the legal status of the issuers/companies and financial instruments/shares. Romanian legislator has chosen to implement in Capital Market Law special rules regarding the administration of the issuers of financial instruments, not only rules regarding admitting and maintaining to a regulated market. Thus issuers are, in Romanian Law perspective, special company that should comply special rule regarding board of administration and general shareholders meeting.

  20. Financial Analysts’ Forecasts

    DEFF Research Database (Denmark)

    Stæhr, Simone

    . The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...... in the decision making and the magnitude of these constraints does sometimes vary with personal traits. Therefore, to the extent that financial analysts are subjects to behavioral biases their outputs to the investors are likely to be biased by their interpretation of information. Because investors need accuracy...... management and providing outputs to the investors. Amongst various outputs from the analysts are forecasts of earnings. According to decision theories mostly from the literature in psychology all humans are affected by cognitive constraints to some degree. These constraints may lead to unintentional biases...

  1. Financial Economy and Financial System: Basis of Structural Interconnection

    Directory of Open Access Journals (Sweden)

    Khorosheva Olena I.

    2014-02-01

    Full Text Available The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an aggregate of financial economies and financial market. The article justifies a necessity of expansion of boundaries of perception of the state financial economy, which is offered to include public financial economy of the state level and the set of financial economies of the state as a subject of economic activity. Such an approach forms a base for justification of the synthesis of participation of the state in financial relations as the owner and as the basic macro-economic regulator. Prospects of further study in this direction are: development of classification of financial economies; revelation of specific features of impact of shadow finance on development of the national financial economy; and assessment of possibilities of inclusion of structured financial products into the system of values of financial economies in Ukraine.

  2. Regulating household financial advice

    Directory of Open Access Journals (Sweden)

    Benjamin F. Cummings

    2012-08-01

    Full Text Available This paper reviews economic theory related to investment advice. This theory explains 1 why financial advisors need to be carefully regulated for the benefit of both the investment advice industry and for consumers, 2 why principles-based regulation (e.g., a fiduciary standard is more efficient than rules-based regulation, 3 why dual regulation of financial professionals providing investment or insurance advice is inefficient and inequitable policy, and 4 why the application of a universal and uniform fiduciary standard will be difficult to implement.

  3. Linkages between financial development, financial instability, financial liberalisation and economic growth in Africa

    OpenAIRE

    Enowbi Batuo, M.; Mlambo, Kupukile; Asongu, Simplice

    2017-01-01

    In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development. However, others emphasise the link between financial liberalisation is intrinsically associated with financial instability which may be harmful to economic growth and development. This study assesses ...

  4. Corporate Investments in Asian Emerging Markets: Financial Conditions, Financial Development, and Financial Constraints

    OpenAIRE

    Wang, Jianxin; Gochoco-Bautista, Maria Socorro; Sotocinal, Noli

    2013-01-01

    Motivated by the literature on the finance–growth nexus, this paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a sample of firms from five Asian emerging economies, we find that (1) financial conditions and financial development affect corporate investments through different channels. Financial conditions affect firms' growth opportunities an...

  5. How did the Global Financial Crisis Influence the Automobile Industry: Comparison between the US and Japanese Auto Industry

    OpenAIRE

    SUN, YAN

    2013-01-01

    The 2008 global financial crisis was the worst one in seventy-five years and had great negative impact on the economy worldwide. Automobile industry, the pillar to the economic development, was hit most by the recession among the sectors. The purpose of this study is to analyze the financial crisis impacts on the automobile industry and find out strategies to decrease the occurrence rate and the loss if a similar crisis occurs. The study, firstly, describes the impact of financial crisis...

  6. Financial reporting by small and medium enterprises in Thailand

    OpenAIRE

    Ploybut, Sutthirat

    2012-01-01

    The increasing complexity of financial reporting requirements, especially accounting standards, leads many countries to consider moving to simpler reporting requirements for small and medium enterprises (SMEs) in order to reduce reporting burdens. In response to such concern, the International Accounting Standards Board (IASB) also released the IFRS for SMEs, an international accounting standard intended for SMEs worldwide. In Thailand, SMEs are required by law to prepare and publish general ...

  7. Clear progress in nuclear safety worldwide: Convention on nuclear safety concludes

    International Nuclear Information System (INIS)

    2002-01-01

    It has been concluded that a significant progress has been observed in a number of key areas, such as strengthened legislation, regulatory independence, the availability of financial resources, enhanced emergency preparedness and safety improvements at nuclear power plants built to earlier standards. The objective of the Convention is to achieve and maintain a high level of nuclear safety worldwide. During the two week Review Meeting, parties engaged in a 'peer review' process in which the National Reports from individual States were collectively examined and discussed, with written replies provided to all the questions raised. Clear improvement was noted in the quality of the National Reports, the number of questions and the openness and quality of discussion and answers. The Contracting Parties praised the IAEA's various safety review missions and services, which they use widely to help enhance the effectiveness of their national safety arrangements. Forty-six contracting parties participated at the Review Meeting with over 400 delegates attending, including many heads and senior officers from regulatory bodies and experts from industry. To date, the Convention has been signed by sixty-five States and ratified by fifty-four, representing 428 of the 448 nuclear power reactors worldwide

  8. Technology trends, energy prices affect worldwide rig activity

    International Nuclear Information System (INIS)

    Rappold, K.

    1995-01-01

    The major worldwide offshore rig markets have improved slightly this year, while the onshore markets generally lagged slightly. Offshore rig utilization rates have remained strong worldwide, with some areas reaching nearly 100%. Total worldwide offshore rig (jack ups, semisubmersible, drillships, submersibles, and barges) utilization was about 86%. Offshore drilling activity is driven primarily by oil and natural gas price expectations. Natural gas prices tend to drive North American offshore drilling activity, including the shallow waters in the Gulf of Mexico. International offshore drilling activity and deepwater projects in the Gulf of Mexico are more closely tied to oil prices. The paper discusses US rig count, directional drilling activity, jack up rig demand, semisubmersibles demand, rig replacement costs, and new construction

  9. The evolving landscape of banking

    NARCIS (Netherlands)

    Boot, A.W.A.; Marinč, M.

    2008-01-01

    The structure of the financial services industry is in flux. Liberalization, deregulation, and advances in information technology have changed the financial landscape dramatically. Interbank competition has heated up and banks face increasing competition from nonbanking financial institutions and

  10. Twenty-first century learning after school: the case of Junior Achievement Worldwide.

    Science.gov (United States)

    Box, John M

    2006-01-01

    Efforts to increase after-school programming indicate the nation's concern about how youth are engaged during out-of-school time. There are clear benefits to extending the learning that goes on during the school day. Research from the U.S. Departments of Education and Justice shows that after-school participants do better in school and have stronger expectations for the future than youth who are not occupied after school. And the need is evident: 14.3 million students return to an empty house after school, yet only 6.5 million children are currently enrolled in after-school programs. If an after-school program were available, parents of 15.3 million would enroll their child. JA Worldwide began in 1919 and has been rooted in the afterschool arena from its origins. Its after-school programs teach students about the free enterprise system through curriculum focusing on business, citizenship, economics, entrepreneurship, ethics and character, financial literacy, and career development. At the same time, JA Worldwide incorporates hands-on learning and engagement with adults as role models, both key elements to a successful after-school program. Now focused on developing curriculum emphasizing skills needed for the twenty-first century, JA adopted the key elements laid out for after-school programs by the Partnership for 21st Century Skills. To ensure that the next generation of students enters the workforce prepared, America's education system must provide the required knowledge, skills, and attitudes. Programs such as JA Worldwide serve as models of how to provide the twenty-first century skills that all students need to succeed.

  11. Financial System of Malaysia: the Concept of Financial Dispute

    Directory of Open Access Journals (Sweden)

    Evgenia E. Frolova

    2017-01-01

    Full Text Available Purpose: the article examines the main problems associated the new regulatory acts of Malaysia – the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013; The characteristics of the legal status of the "Ombudsman for financial services" are listed, types of financial disputes subject to settlement under the "financial ombudsman scheme" are listed, parties to the financial dispute are identified. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Malaysia that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority. Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia. Results: according to the provisions of the new laws of Malaysia, namely the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013, a financial dispute should be understood as a dispute, to which the parties are a financial consumer and a financial service provider provider. Financial disputes include disputes in the field of insurance and Islamic insurance, as well as disputes over bank cards, bank accounts, ATMs, Internet banking, mobile banking, and others. The main body for the settlement of financial disputes is the Financial Ombudsman. The competence of the financial ombudsman is limited by the amount of the claim of 250,000 ringgit (about 4.5 million rubles, under insurance claims – 10,000 ringgit, in the field of unauthorized transactions – 25,000 ringgit. The procedure for resolving a financial dispute, which in Malaysia is referred to as the "scheme of a financial ombudsman", is established by the Central Bank of Malaysia

  12. Increasing Financial Security

    Science.gov (United States)

    Kiss, Elizabeth

    2006-01-01

    Earning, spending, saving and investing, and using credit are important aspects of money management that teens need to understand as they move into adulthood. Family and consumer sciences (FCS) professionals have a long history of addressing this important life skill. This brief article describes the High School Financial Planning Program (HSFPP),…

  13. Fighting the Financial Crisis

    DEFF Research Database (Denmark)

    Hull Kristensen, Peer

    2015-01-01

    This paper is concerned to show how the Danish political elite interpreted and responded to the consequences of the 2008 financial crisis for the Danish economy. In particular, the paper describes how this interpretive construction focused primarily on three features of the Danish context to the ...

  14. International Financial Reporting Standards

    DEFF Research Database (Denmark)

    Pontoppidan, Caroline Aggestam

    2011-01-01

    The advance of International Financial Reporting Standards (IFRS) across the globe has accelerated over the last few years. This is placing increasing demands on educators to respond to these changes by an increased focus on IFRS in the curricula of accounting students. This paper reviews a range...

  15. A Financial Marriage

    Institute of Scientific and Technical Information of China (English)

    LAN XINZHEN

    2010-01-01

    @@ Love is in the air as financial church bells ring,ushering in a bonding between CITIC Securities Co.Ltd.land Crédit Agricole S.A.(CASA).The Chinese company and the French bank are planning to establish a global investment bank and strategic brokerage alliance,said a memorandum of understanding signed by the two sides on May 3.

  16. Financial Giffen Goods

    DEFF Research Database (Denmark)

    Poulsen, Rolf; Rasmussen, Kourosh Marjani

    2008-01-01

    In the basic Markowitz and Merton models, a stock’s weight in efficient portfolios goes up if its expected rate of return goes up. Put differently, there are no financial Giffen goods. By an example from mortgage choice we illustrate that for more complicated portfolio problems Giffen effects do...

  17. Medical students' financial dilemma

    African Journals Online (AJOL)

    1991-05-18

    May 18, 1991 ... A study conducted at the University of Cape Town. R. P. COLBORN ... The financial position of 5th- and 6th-year medical students at the University of .... USA and the UK10,ll appear to have similar problems. Subjects and ...

  18. Financial Derivatives in China

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Francis Repka sees bright prospects for the future development of the financial derivatives market in China. Repka,Vice President of the Asian Bond Finance Department of Societe Generale, says the situation in France just after the birth of derivatives was very similar to the situation in China today.

  19. Issue of Financial Capability

    Science.gov (United States)

    Hasek, Roman; Petraskova, Vladimira

    2010-01-01

    For most people, including students, it is not easy to have a good grasp of the basic terms in the field of finance and of their interrelations, in particular due to the fact that the offer for financial products keeps changing and its statement is frequently unclear, insincere and confusing. The Pedagogical Faculty of the University of South…

  20. Consolidated financial statements

    OpenAIRE

    Blaha, Miroslav

    2010-01-01

    This work provides basic information about consolidation and consolidated financial statements. In the beginning there are definisions of the members of the group under discussion and their relationship. Hereafter concepts of consolidation, accounting methods and methods of consolidation are discussed. It also compares approach of different accounting systems to consolidation.

  1. Consumer financial behavior

    NARCIS (Netherlands)

    van Raaij, W.F.

    2014-01-01

    Consumer financial behavior is a domain between micro-economics, behavioral finance, and marketing. It is based on insights and behavioral theories from cognitive, economic, and social psychology (biases, heuristics, social influences), in the context of and sometimes in conflict with micro-economic

  2. IETS statement on worldwide ET statistics for 2010

    DEFF Research Database (Denmark)

    Stroud, Brad; Callesen, Henrik

    2012-01-01

    For the twentieth consecutive year, the Data Retrieval Committee of the international Embryo Transfer Society (IETS) can report global embryo transfer (ET) statistics. The number of bovine in vivoderived (IVD) embryos collected/flushed worldwide in 2010 increased to 732,000, a 4% increase from 2009...... the committee’s regional data collectors indicates that the embryo transfer industry is doing well. It is important to note that this report does not include every country’s statistics, and very few, if any, country has 100% of its activity represented; however, it is the best worldwide report available about...... the commercial embryo transfer business....

  3. Post irradiation examinations cooperation and worldwide utilization of facilities

    International Nuclear Information System (INIS)

    Karlsson, Mikael

    2009-01-01

    Status of post irradiation examinations in Studsvik's facilities, cooperation and worldwide utilization of facilities, was described. Studsvik cooperate with irradiation facilities, as Halden, CEA and JAEA, as well as other hot cell facilities (examples, PSI, ITU and NFD) universities (example, the Royal Institute of Technology in Sweden) in order to be able to provide everything asked for by the nuclear community. Worldwide cooperation for effective use of expensive and highly specialized facilities is important, and the necessity of cooperation will be more and more recognized in the future. (author)

  4. Financial literacy: an interface between financial information and ...

    African Journals Online (AJOL)

    D.G. Gouws is in the School of Financial Management Sciences, University of Pretoria, and Ms ... connection between the financial numbers and the real business world context. ...... The Origin of Wealth: Evolution, Complexity, and the Radical.

  5. The role of 'financial myths' in financial crises

    OpenAIRE

    Eric S. Rosengren

    2011-01-01

    Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston University conference on The State of Financial Reform (panel on Lessons Learned from the Global Financial Meltdown), February 28, 2011, Boston, Massachusetts

  6. APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

    Directory of Open Access Journals (Sweden)

    Ayuba A. Aminu

    2016-03-01

    Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.

  7. Financial Literacy and Financial Education: Review and Policy Implications

    OpenAIRE

    Annamaria Lusardi

    2006-01-01

    In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...

  8. Personal Financial Literacy and Financial Planning in Klang Valley, Malaysia

    OpenAIRE

    Hoe, Siew Yee

    2008-01-01

    The financial planning industry in Malaysia is still very much at its inception stage. Currently, regulators- Bank Negara Malaysia and Securities Commission of Malaysia have started to regulate the industry by imposing requirements for whoever wanted to venture into the financial planning profession. The title of ‘Financial Planner’ is now highly legalized by the authorities. Empirical studies have been done by overseas scholars and found that the lack of personal financial literacy has been ...

  9. Materiality from financial towards non-financial reporting

    OpenAIRE

    Chiara Mio

    2013-01-01

    The article aims at discussing the evolution of the concept of materiality in financial and, more specifically, non-financial reporting. Materiality will play a central role in the next years in order for reports to reach conciseness, which is at present one of the main goals both financial and non-financial reporting (in particular Integrated Reporting) aims to achieve. The article reviews the most relevant materiality frameworks and definitions and provides further insights for the advancem...

  10. Enhancing Financial Security in Agricultural Business: Financial and Property Aspects

    OpenAIRE

    Yuliya Bezdushna

    2014-01-01

    The article provides the analysis of information support for the developing agrarian businesses financial security activities. The impact of financial statements on financial security has been proved through generalization procedure of such calculating indicators as operating margin, return on assets, total liquidity ratio and financial autonomy ratio. A causal effect between mass underestimation of operating fixed assets in accounting and inflated profitability rates in agribusinesses operat...

  11. Financial, operating results, assets total down for OGJ300

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    Financial and operating results of the Oil and Gas Journal 300 dropped again in 1992. It was the second consecutive set of declines for OGJ's list of the largest publicly traded, oil and gas producing companies in the U.S. Totals fell from 1991 results in almost all categories for financial and operating performance. Group net income fell sharply in 1992. Large, integrated companies reported sharp earnings declines, many of them related to special charges for restructuring and mandatory accounting changes. In addition, revenues were suppressed by lower crude and product prices below levels of 1991 and a decline in total crude production. This was partially offset by higher prices and demand for natural gas and by increased demand for petroleum products. The paper discusses the economic situation in the petroleum and natural gas industries then gives extensive data on the following: total assets, total income, net income, stockholders' equity, capital spending, worldwide and US liquids production, worldwide and US natural gas production, worldwide and US liquids reserves, worldwide and US natural gas reserves, and US net wells drilled

  12. Financial Stress and Financial Counseling: Helping College Students

    Science.gov (United States)

    Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel

    2015-01-01

    This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…

  13. Workplace Financial Education Facilitates Improvement in Personal Financial Behaviors

    Science.gov (United States)

    Prawitz, Aimee D.; Cohart, Judith

    2014-01-01

    Based on the life-cycle theory of consumption, this quasi-experimental study of 995 employees examined changes in financial behaviors following employee-needs-driven workplace financial education. Repeated-measures ANOVA compared participants and non-participants on perceived financial wellness and savings ratios; main effects indicated that both…

  14. Inmate Perceptions of Financial Education Needs: Suggestions for Financial Educators

    Science.gov (United States)

    Call, Lindsay Larson; Dyer, W. Justin; Wiley, Angela R.; Day, Randal D.

    2013-01-01

    Recently, national attention has turned to the need for increased financial education, particularly for low-income populations. Incarcerated individuals represent a growing low-income group with unique needs that could likely benefit from financial education. However, few studies have examined the specific financial education needs of inmates,…

  15. Financial Literacy and Financial Behaviour: Experimental Evidence from Rural Rwanda

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, E.H.; Lensink, Robert

    We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new

  16. FINANCIAL INFORMATION, EFFECTS OF FINANCIAL INFORMATION ON ECONOMIC DECISION

    Directory of Open Access Journals (Sweden)

    TAK ISA

    2010-12-01

    Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.

  17. Financial Planners: Educating Widows in Personal Financial Planning

    Science.gov (United States)

    Korb, Brian R.

    2010-01-01

    Widows constitute a growing segment of the U.S. population; however, very little has been done to educate them on the basics of personal financial planning. The creation and implementation of financial planning education programs for widows can help them become more financially literate and free them from anxiety and fear. Interviews with eight…

  18. FINDbase: A worldwide database for genetic variation allele frequencies updated

    NARCIS (Netherlands)

    M. Georgitsi (Marianthi); E. Viennas (Emmanouil); D.I. Antoniou (Dimitris I.); V. Gkantouna (Vassiliki); S. van Baal (Sjozef); E.F. Petricoin (Emanuel F.); K. Poulas (Konstantinos); G. Tzimas (Giannis); G.P. Patrinos (George)

    2011-01-01

    textabstractFrequency of INherited Disorders database (FIND base; http://www.findbase. org) records frequencies of causative genetic variations worldwide. Database records include the population and ethnic group or geographical region, the disorder name and the related gene, accompanied by links to

  19. Worldwide large-scale fluctuations of sardine and anchovy ...

    African Journals Online (AJOL)

    Worldwide large-scale fluctuations of sardine and anchovy populations. ... African Journal of Marine Science. Journal Home · ABOUT THIS JOURNAL · Advanced ... Fullscreen Fullscreen Off. http://dx.doi.org/10.2989/AJMS.2008.30.1.13.463.

  20. Worldwide large-scale fluctuations of sardine and anchovy ...

    African Journals Online (AJOL)

    Worldwide large-scale fluctuations of sardine and anchovy populations. ... African Journal of Marine Science. Journal Home · ABOUT THIS JOURNAL · Advanced ... http://dx.doi.org/10.2989/AJMS.2008.30.1.13.463 · AJOL African Journals ...

  1. Development prospects of natural gas worldwide 2000-2030

    International Nuclear Information System (INIS)

    Maire, J.; Bouchard, G.

    1996-01-01

    Two differing models for the expansion of natural gas consumption worldwide are presented. Forecasting over the next five decades, gas consumption in various parts of the world are tabulated for a base case where gas consumption could increase by 75% by 2030 and an alternative case linked to relatively poor economic conditions with expansion at half that rate. (UK)

  2. Worldwide end-of-life practice for patients in ICUs.

    Science.gov (United States)

    Wong, Wai-Tat; Phua, Jason; Joynt, Gavin M

    2018-04-01

    Published data and practice recommendations on end-of-life (EOL) generally reflect Western practice frameworks. Understanding worldwide practices is important because improving economic conditions are promoting rapid expansion of intensive care services in many previously disadvantaged regions, and increasing migration has promoted a new cultural diversity previously predominantly unicultural societies. This review explores current knowledge of similarities and differences in EOL practice between regions and possible causes and implications of these differences. Recent observational and survey data shows a marked variability in the practice of withholding and withdrawing life sustaining therapy worldwide. Some evidence supports the view that culture, religion, and socioeconomic factors influence EOL practice, and individually or together account for differences observed. There are also likely to be commonly desired values and expectations for EOL practice, and recent attempts at establishing where worldwide consensus may lie have improved our understanding of shared values and practices. Awareness of differences, understanding their likely complex causes, and using this knowledge to inform individualized care at EOL is likely to improve the quality of care for patients. Further research should clarify the causes of EOL practice variability, monitor trends, and objectively evaluate the quality of EOL practice worldwide.

  3. Downy mildew: a serious disease threat to rose health worldwide

    Science.gov (United States)

    Peronospora sparsa is a downy mildew-causing oomycete that can infect roses, blackberries and other members of the rose family. During the last 20 years, this disease has become a serious problem for rose growers in the U.S. and worldwide. While much is known about the disease and its treatment, inc...

  4. IETS statement on worldwide ET statistics for 2010

    DEFF Research Database (Denmark)

    Stroud, Brad; Callesen, Henrik

    2012-01-01

    of IVP embryos transferred worldwide in 2010 was 339,685, an 11% increase from 2009. Global equine ET activity also increased in 2010. The number of reported flushes (41,652) was up by 4,681 (+13%). The number of transfers (28,824) was also up (+4,354). Brazil and Argentina led the way in mares flushed...

  5. Expanding Worldwide Awareness of Gifted and Talented Children and Youth.

    Science.gov (United States)

    Sisk, Dorothy A.

    1990-01-01

    This article documents the growing worldwide concern for identifying and serving gifted students, primarily via curriculum and instructional differentiation through special classes, enrichment, and acceleration. Programs in Brazil, Canada, Australia, the Middle East, Israel, the Philippines, the Soviet Union, Bulgaria, Poland, Indonesia, Taiwan,…

  6. Worldwide trends in blood pressure from 1975 to 2015

    NARCIS (Netherlands)

    Ezzati, Majid; Geleijnse, J.M.

    2017-01-01

    Background

    Raised blood pressure is an important risk factor for cardiovascular diseases and chronic kidney disease. We estimated worldwide trends in mean systolic and mean diastolic blood pressure, and the prevalence of, and number of people with, raised blood pressure, defined as systolic

  7. Worldwide Threat Assessment of the US Intelligence Community

    Science.gov (United States)

    2014-01-29

    the Industrial Control Systems (ICS) and Supervisory Control and Data Acquisition ( SCADA ) systems used in water management, oil and gas pipelines ...Statement for the Record Worldwide Threat Assessment of the US Intelligence Community Senate Select Committee on Intelligence...reporting burden for the collection of information is estimated to average 1 hour per response, including the time for reviewing instructions

  8. Shaping Social Justice Leadership: Insights of Women Educators Worldwide

    Science.gov (United States)

    Lyman, Linda L.; Strachan, Jane; Lazaridou, Angeliki

    2012-01-01

    "Shaping Social Justice Leadership: Insights of Women Educators Worldwide" contains evocative portraits of twenty-three women educators and leaders from around the world whose actions are shaping social justice leadership. Woven from words of their own narratives, the women's voices lift off the page into readers' hearts and minds to inspire and…

  9. State-of-the-Art in Open Courseware Initiatives Worldwide

    Science.gov (United States)

    Vladoiu, Monica

    2011-01-01

    We survey here the state-of-the-art in open courseware initiatives worldwide. First, the MIT OpenCourseWare project is overviewed, as it has been the real starting point of the OCW movement. Usually, open courseware refers to a free and open digital publication of high quality university level educational materials that are organized as courses,…

  10. With the worldwide decline in conventional finfish stocks, fishers are ...

    African Journals Online (AJOL)

    With the worldwide decline in conventional finfish stocks, fishers are redirecting their attention to alter- native stocks, in particular invertebrates (Perry et al. 1999). Initiatives towards developing small-scale commercial fisheries, aimed at supporting previously disadvantaged fishers and targeting previously under- exploited ...

  11. Do banks differently set their liquidity ratios based on their network characteristics?

    OpenAIRE

    Distinguin, Isabelle; Mahdavi-Ardekani, Aref; Tarazi, Amine

    2016-01-01

    This paper investigates the impact of interbank network topology on bank liquidity ratios. Whereas more emphasis has been put on liquidity requirements by regulators since the global financial crisis of 2007-2008, how differently shaped interbank networks impact individual bank liquidity behavior remains an open issue. We look at how bank interconnectedness within interbank loan and deposit networks affects their decision to hold more or less liquidity during normal times and distress times a...

  12. Do banks differently set their liquidity ratios based on their network characteristics?

    OpenAIRE

    Distinguin , Isabelle; Mahdavi-Ardekani , Aref; Tarazi , Amine

    2017-01-01

    This paper investigates the impact of interbank network topology on bank liquidity ratios. Whereas more emphasis has been put on liquidity requirements by regulators since the global financial crisis of 2007-2008, how differently shaped interbank networks impact individual bank liquidity behavior remains an open issue. We look at how bank interconnectedness within interbank loan and deposit networks affects their decision to hold more or less liquidity during normal times and distress times a...

  13. Do banks differently set their liquidity ratios based on their network characteristics? Do banks differently set their liquidity ratios based on their network characteristics?

    OpenAIRE

    Distinguin, Isabelle; Mahdavi-Ardekani, Aref; Tarazi, Amine

    2017-01-01

    This paper investigates the impact of interbank network topology on bank liquidity ratios. Whereas more emphasis has been put on liquidity requirements by regulators since the global financial crisis of 2007-2008, how differently shaped interbank networks impact individual bank liquidity behavior remains an open issue. We look at how bank interconnectedness within interbank loan and deposit networks affects their decision to hold more or less liquidity during normal times and distress times a...

  14. Global financial crisis

    Directory of Open Access Journals (Sweden)

    MSc. Jusuf Qarkaxhija

    2011-03-01

    Full Text Available The most recent developments in economy are a clear indicator of many changes, which are a result of this high rate pacing, which also demonstrates as such. Market economy processes occur as a result of intertwining of many potential technological and human factors, thereby creating a system of numerous diver-gences and turbulences. Economics, a social science, is characteri-sed with movements from a system to another system, and is har-monized with elements or components which have impacted the development and application of economic policies as a result. This example can be illustrated with the passing from a commanded system (centralized to a self-governing (decentrali-zed system, while the movement from a system to another is known as transi-tion. Such transition in its own nature bears a number of problems of almost any kind (political, economic, social, etc., and is charac-terised with differences from a country to another. Financial crisis is a phenomenon consisting of a perception of economic policies and creation of an economic and financial stabi-lity in regional and global structures. From this, one may assume that each system has its own changes in its nature, and as a result of these changes, we have the crisis of such a system. Even in the economic field, if we look closely, we have such a problem, where development trends both in human and technological fields have created a large gap between older times and today, thereby crea-ting dynamics with a high intensity of action. If we dwell on the problem, and enter into the financial world, we can see that the so-called industrialized countries have made giant leaps in deve-lopment, while countries in transition have stalled in many fields, as a result of a high rate of corruption and unemployment in these countries, and obviously these indicators are directly connected, thereby stroking the financial system in these countries. Corruption is an element, which directly and indirectly

  15. Corporate Information Management Financial Statements

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1995-01-01

    The audit objective was to determine whether the OASD(C31) methods for preparing FY 1996 CIM, general purpose financial statements will result in auditable and complete general purpose financial statements...

  16. Financial Management: An Organic Approach

    Science.gov (United States)

    Laux, Judy

    2013-01-01

    Although textbooks present corporate finance using a topical approach, good financial management requires an organic approach that integrates the various assignments financial managers confront every day. Breaking the tasks into meaningful subcategories, the current article offers one approach.

  17. Understanding Trust in Financial Services

    DEFF Research Database (Denmark)

    Hansen, Torben

    2012-01-01

    Although the financial crisis has elevated the interest for factors such as consumer financial healthiness, broad-scope trust, financial knowledge, and consumer relationship satisfaction, no existing model describes how these factors may influence consumer financial relationship trust...... healthiness, broad-scope trust, knowledge, and satisfaction positively affect narrow-scope trust in financial services. Furthermore, it is found that broad-scope trust negatively moderates the relationships between financial healthiness and narrow-scope trust and between satisfaction and narrow-scope trust....... This research extends prior research by developing a conceptual framework explaining how these constructs affect consumers' trust in their financial service provider. Based on two surveys comprising 764 pension consumers and 892 mortgage consumers, respectively, the results of this study indicate that financial...

  18. ICAF Financial Services Industry Study

    National Research Council Canada - National Science Library

    Allison, Douglas; Barry, Kevin; Beaver, Philip; Browne, Michael; Cubillos, Claudio; Hanger, Wallace; Kluchko, Luke; LaDue, Charles; McGhee, Michael; Mitsoff, Gregory

    2005-01-01

    .... The industry includes those firms that provide financial services to organizations or individuals, the government agencies that regulate the industry, and the markets that facilitate the exchange of financial assets...

  19. Radiology applications of financial accounting.

    Science.gov (United States)

    Leibenhaut, Mark H

    2005-03-01

    A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments.

  20. Financial Literacy Education for Women

    Science.gov (United States)

    Jarecke, Jodi; Taylor, Edward W.; Hira, Tahira K.

    2014-01-01

    Exploring the pedagogical approaches of four women's financial literacy education programs, this chapter provides an overview of trends and needs in financial education for women and offers pedagogical strategies for teaching women about finance.

  1. Global Findex Database 2017 : Measuring Financial Inclusion and the Fintech Revolution

    OpenAIRE

    Demirguc-Kunt, Asli; Klapper, Leora; Singer, Dorothe; Ansar, Saniya; Hess, Jake

    2018-01-01

    The Global Findex database is the world's most comprehensive set of data on how people make payments, save money, borrow and manage risk. Launched in 2011, it includes more than 100 financial inclusion indicators in a format allowing users to compare access to financial services among adults worldwide -- including by gender, age and household income. This third edition of the database was compiled in 2017 using nationally representative surveys in more than 140 developing and high-income...

  2. Financial inclusion: Policies and practices

    OpenAIRE

    Thankom Arun; Rajalaxmi Kamath

    2015-01-01

    As a key enabler for development, financial inclusion is firmly placed on the agenda of most governments as a key policy priority. Against this background, this round table provides a global and regional perspective on the policies and practices of financial inclusion. Using macro data, the collection reveals the diversity in the efforts towards achieving financial inclusion and the need for a progressive approach in financial inclusion. Further to this, the round table provides the regional ...

  3. Malaysia; Financial Sector Stability Assessment

    OpenAIRE

    International Monetary Fund

    2013-01-01

    This assessment is a review of the financial environment of Malaysia. Like many other Asian countries, Malaysia experienced financial distress in the late 1990s, but the country’s policy reforms have moved it to a successful economy. A ten-year financial plan (2001–10) by Bank Negara Malaysia restructured the financial sector. Banks were well capitalized, household debts were strengthened, and securities and insurances were developed. Malaysia thus became the global center for Islamic finance...

  4. Gender issues of financial analysts

    OpenAIRE

    Jingwen Ge

    2013-01-01

    Increased attention has been drawn to the gender disparity in workplace. This dissertation is dedicated to provide sight to the gender issues in financial analysts. Profound literature reviews are conducted about gender issues and financial analysts, respectively in order to comprehend the existing gender concerns in the business world, and role and functions of financial analysts. Research proposals are described to answer the following question: whether women financial analysts are more lik...

  5. Liquidity management through financial planning

    OpenAIRE

    Kameníková Katarína

    2001-01-01

    One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial pl...

  6. Financial Integration and Asset Returns

    OpenAIRE

    P Martin; H Rey

    2000-01-01

    The paper investigates the impact of financial integration on asset return, risk diversification and breadth of financial markets. We analyse a three-country macroeconomic model in which (i) the number of financial assets is endogenous; (ii) assets are imperfect substitutes; (iii) cross-border asset trade entails some transaction costs; (iv) the investment technology is indivisible. In such an environment, lower transaction costs between two financial markets translate to higher demand for as...

  7. The Geography of Financial Literacy

    Directory of Open Access Journals (Sweden)

    Christopher Bumcrot

    2013-07-01

    Full Text Available This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the extent to which differences in financial literacy can be explained by states’ demographic and economic characteristics. To assess financial literacy, five questions were added to the 2009 National Financial Capability Study, covering fundamental concepts of economics and finance encountered in everyday life: simple calculations about interest rates and inflation, the workings of risk diversification, the relationship between bond prices and interest rates, and the relationship between interest payments and maturity in mortgages. We constructed an index of financial literacy based on the number of correct answers provided by each respondent to the five financial literacy questions. The financial literacy index reveals wide variation in financial literacy across states. Much of the variation is attributable to differences in the demographic makeup of the states; however, a handful of states have either higher or lower levels of financial literacy than is explained by demographics alone. Also, there is a significant correlation between the financial literacy of a state and that state’s poverty level. The findings indicate directions for policy makers and practitioners interested in targeting areas where financial literacy is low.

  8. Financial literacy of university students

    OpenAIRE

    Rodrigues, Cristina S.; Vieira, Filipa Dionísio; Amaral, António Manuel Pereira da Silva; Martins, F. Vitorino

    2012-01-01

    The current financial crisis highlights real problems profoundly related to the level of financial knowledge. Some studies suggest that many individuals, including small business owners, do not have adequate financial skills to be able to handle their finances. The term "financial literacy" summarizes the set of knowledge, skills and attitudes necessary to enable recognition and understanding of the foundations of personal finance. Informed and literate individuals are able to make responsibl...

  9. Financial stability or economic stability?

    OpenAIRE

    Ana POPA; Laura GIURCA VASILESCU

    2010-01-01

    This paper is based on the dilemma: effect or cause in the analysis of the economic and financial crisis? The first finding of the study is that it has always been easier to consider that the mistakes from the financial field caused the economic crisis. Currently, in the European Union and Romania there is a concern for aggressive action against financial instability. The second finding is that the crisis phenomenon manifest synergetic, thus the deterioration in the macro and micro- financial...

  10. Financial management of construction contractors.

    OpenAIRE

    Lacaria, Chris J.

    1994-01-01

    The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told ...

  11. Canada; Financial Sector Stability Assessment

    OpenAIRE

    International Monetary Fund

    2014-01-01

    This report discusses key findings of the Financial Sector Stability Assessment on Canada. Canada’s financial system successfully navigated the global financial crisis, and stress tests suggest that major financial institutions would continue to be resilient to credit, liquidity, and contagion risks arising from a severe stress scenario. Elevated housing prices and high household debt remain an area of concern, though targeted prudential and macroprudential measures are proving to be effectiv...

  12. Market liquidity and financial stability.

    OpenAIRE

    Crockett, A.

    2008-01-01

    Stability in financial institutions and in financial markets are closely intertwined. Banks and other financial institutions need liquid markets through which to conduct risk management. And markets need the back-up liquidity lines provided by financial institutions. Market liquidity depends not only on objective, exogenous factors, but also on endogenous market dynamics. Central banks responsible for systemic stability need to consider how far their traditional responsibility for the health ...

  13. Worldwide Tuition Increases Send Students into the Streets.

    Science.gov (United States)

    Woodard, Colin

    2000-01-01

    Examines the global trend towards increased tuition and fees in public institutions of higher education. Despite histories of free or very low tuition and student protests, most observers see higher tuition and fees (and financial aid programs for needy students) as invitable. Notes increased demand, enrollment surges, and collapsing systems of…

  14. DIAGNOSIS OF FINANCIAL EQUILIBRIUM

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2013-04-01

    Full Text Available The analysis based on the balance sheet tries to identify the state of equilibrium (disequilibrium that exists in a company. The easiest way to determine the state of equilibrium is by looking at the balance sheet and at the information it offers. Because in the balance sheet there are elements that do not reflect their real value, the one established on the market, they must be readjusted, and those elements which are not related to the ordinary operating activities must be eliminated. The diagnosis of financial equilibrium takes into account 2 components: financing sources (ownership equity, loaned, temporarily attracted. An efficient financial equilibrium must respect 2 fundamental requirements: permanent sources represented by ownership equity and loans for more than 1 year should finance permanent needs, and temporary resources should finance the operating cycle.

  15. Weathering the financial storm

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursson, Thórarinn G.

    2011-01-01

    The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly. In this ......The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly...... pegs outside EMU were hit particularly hard, while inflation targeting seemed to mitigate the crisis. Finally, we find some evidence suggesting a role for international real linkages and institutional credibility. Our key results are robust to various alterations in the empirical setup and we are able...

  16. Erecting a Sturdy Financial Structure.

    Science.gov (United States)

    West, Jeffrey J.

    1998-01-01

    Explanation of the technological setting in which college and university financial systems have developed is provided for financial officers, to aid in devising a plan for the chart of accounts and erecting an efficient, logical, flexible financial structure. Topics include software/hardware advances, understanding the demand for financial…

  17. MANIPULATION OF THE FINANCIAL STATEMENTS

    OpenAIRE

    Gulin Danimir

    2008-01-01

    An increase in concentration of quoted companies on a relatively small number of stock markets requires a better equalisation of financial reporting framework. Globalisation of financial markets requires harmonisation of financial standards. In 1998, an agreement between IOSCO (International Organisation of Securities Commission) and IASC (International Accounting Standards Committee) on application of International Accounting Standards on American stock exchanges was consequently reached. Si...

  18. Financial globalization and crises: overview

    NARCIS (Netherlands)

    Beck, T.; Claessens, S.; Schmukler, S.L.; Caprio, G.; Beck, T.; Claessens, S.; Schmukler, S.L.

    2013-01-01

    Financial globalization, the integration of countries with the global financial system, has increased substantially since the 1970s and particularly with more force since the 1990s. Financial globalization has shown to pose both benefits and risks to developed countries and developing countries

  19. Financial crisis and monetary policy

    NARCIS (Netherlands)

    Karatas, B.

    2014-01-01

    Written in the midst of the Global Financial Crisis, the goal of this dissertation is to investigate causes of financial crises in general in order to provide empirical evidence of the driving forces of various crises types. Specifically, this thesis analyses the most common types of financial

  20. Strategic Planning and Financial Management

    Science.gov (United States)

    Conneely, James F.

    2010-01-01

    Strong financial management is a strategy for strategic planning success in student affairs. It is crucial that student affairs professionals understand the necessity of linking their strategic planning with their financial management processes. An effective strategic planner needs strong financial management skills to implement the plan over…

  1. "Financial Bubbles" and Monetary Policy

    Science.gov (United States)

    Tikhonov, Yuriy A.; Pudovkina, Olga E.; Permjakova, Juliana V.

    2016-01-01

    The relevance of this research is caused by the need of strengthening a role of monetary regulators to prevent financial bubbles in the financial markets. The aim of the article is the analysis of a problem of crisis phenomena in the markets of financial assets owing to an inadequate growth of their cost, owing to subjective reasons. The leading…

  2. Financial Sector Assessment Update : Uganda

    OpenAIRE

    World Bank

    2005-01-01

    A joint International Monetary Fund-World Bank team conducted an assessment update of Uganda's financial system in connection with the Financial Sector Assessment Program (FSAP) in November, 2004. The purpose of the mission was to help the Ugandan authorities identify financial system strengths and weaknesses with a view to implementing an action plan to increase the system's contribution ...

  3. Communication impacting financial markets

    Science.gov (United States)

    Vitting Andersen, Jørgen; Vrontos, Ioannis; Dellaportas, Petros; Galam, Serge

    2014-10-01

    Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual investment behavior. Behavioral finance thereby ignores any interaction between participants. We introduce a socio-financial model (Vitting Andersen J. and Nowak A., An Introduction to Socio-Finance (Springer, Berlin) 2013) that studies the impact of communication on the pricing in financial markets. Considering the simplest possible case where each market participant has either a positive (bullish) or negative (bearish) sentiment with respect to the market, we model the evolution of the sentiment in the population due to communication in subgroups of different sizes. Nonlinear feedback effects between the market performance and changes in sentiments are taken into account by assuming that the market performance is dependent on changes in sentiments (e.g., a large sudden positive change in bullishness would lead to more buying). The market performance in turn has an impact on the sentiment through the transition probabilities to change an opinion in a group of a given size. The idea is that if for example the market has observed a recent downturn, it will be easier for even a bearish minority to convince a bullish majority to change opinion compared to the case where the meeting takes place in a bullish upturn of the market. Within the framework of our proposed model, financial markets stylized facts such as volatility clustering and extreme events may be perceived as arising due to abrupt sentiment changes via ongoing communication of the market participants. The model introduces a new volatility measure which is apt of capturing volatility clustering and from maximum-likelihood analysis we are able to apply the model to real data and give additional long term insight into where a market is

  4. Translation of Financial Statements

    OpenAIRE

    Dalthan Simas; Otavio De Medeiros

    2005-01-01

    This paper has the purpose of surveying and critically analyzing the effects of accounting procedures which are closely related to groups of companies operating multinationally. These are the methods for translation of financial statements, e.g. the Temporal and the Closing- rate Methods, as far as those methods are embodied in accounting standards which have been either recommended or adopted by countries such as the UK and US. We conclude that with regard to changing prices, General Price L...

  5. Emotion and financial markets

    OpenAIRE

    Lucy F. Ackert; Bryan K. Church; Richard Deaves

    2003-01-01

    Psychologists and economists hold vastly different views about human behavior. Psychologists contend that economists' models bear little relation to actual behavior. This view is supported by a large body of psychological research that shows that emotional state can significantly affect decision making. ; Economists, on the other hand, argue that psychological studies have no theoretical basis and offer little empirical evidence about people's decision-making processes. The reigning financial...

  6. Financial Statement Math

    OpenAIRE

    2007-01-01

    game tool Game Tool Interactive Media Element The purpose of this interactive exercise is to help you understand the math in the income statement and balance sheet., Give the proper mathematical computations in order to correctly prepare the income statement and the balance sheet.The exercise is divided into 3 parts: The income Statement, The Balance Sheet - Assets, The Balance Sheet - Liabilities, GB3050 Financial Reporting and Analysis

  7. PROFITABILITY AND FINANCIAL STABILITY

    OpenAIRE

    CĂRUNTU CONSTANTIN; LĂPĂDUŞI MIHAELA LOREDANA

    2011-01-01

    The business activity allows identifying two categories of flows: flows of results and cash flows. Flows affect the income and expenses, participating in training result, the company's profitability. Financial flows involved in their formation both monetary items (which drive the monetary input or output and thus implies a cash flow), and non-cash items (affecting the result, without leading to a cash flow). Are equally identifiable cash flows that do not involve an ...

  8. Offshoring and financial markets

    OpenAIRE

    Battisti, Gianfranco

    2014-01-01

    During the 20th century all economic structures underwent the impact of two epochal phenomena, the communications revolution and the financialization of economy. As a consequence of the never ending technological progress, the first has repeatedly reduced the friction of distance, provoking a radical change in the map of locational advantages. The result was a new model of international distribution of production that projected its effects to the core of business management, triggering a disi...

  9. Financial Sector Assessment : Turkey

    OpenAIRE

    World Bank; International Monetary Fund

    2016-01-01

    The fundamental challenges confronting the Turkish financial system are to reduce dependence on external and foreign currency financing and to increase the maturity and diversity of funding instruments on which banks and firms depend. The long-standing shortfall of national savings to finance domestic investment, persistent elevated inflation, and bouts of exchange rate volatility have boosted reliance on foreign currency financing from international capital markets and have also inc...

  10. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects......: business entities, the transformation process, types of businesses, stakeholders, legislation, the annual report, the VAT system, double-entry bookkeeping, inventories, and year-end cast flow analysis....

  11. The US Financial Crisis

    DEFF Research Database (Denmark)

    Campbell, John L.

    2011-01-01

    Many comparative political economists hold that market performance depends on the presence of institutional complementarities. Some argue that when institutions reinforce similar incentives markets work best. Others disagree and argue that for markets to function well institutions must compensate...... for each other's shortcomings rather than reinforce each other's incentives. This paper uses evidence from the US financial crisis of 2008 to adjudicate this debate. It argues that different types of institutional complementarities are necessary in combination to ensure market stability and successful...

  12. Financial problems and cooperation

    Energy Technology Data Exchange (ETDEWEB)

    Izquierdo, J.

    1994-12-31

    For a Bank, an usual way to attract new clients is by offering better interest rates depending on the amount of money that the client deposits in an account: {open_quotes}The more money you have the higher interest rate you get{close_quotes}. For a company is also a common practice to offer their clients discounts connected with the number of units of the product they order: {open_quotes}The more you order, the lower price per unit you pay{close_quotes}. From these situations arises the possibility to take profit if the clients cooperate and join their money or their orders. Hence, we define a new class of cooperative games called Financial Games. We study basic properties and necessary conditions for a game to belong to this class of games and we define the concept of duality for Financial games. The core is always non-empty and, moreover, Financial games are always totally balanced. We look at some special amputations lying in the Core and we study the reduced game on the j{sup th} player at {rvec x} where x{sub j} = b{sub j} = v(N) {minus} v(N {minus} j).

  13. Financial aspects of decommissioning

    International Nuclear Information System (INIS)

    Chirica, T.; Havris, A.

    2003-01-01

    European Commission adopted recently two proposals of Directives designed to pave the way for a Community approach to the safety of nuclear power plants and the processing of radioactive waste. Nuclear safety cannot be guaranteed without making available adequate financial resources. With regard, in particular, to the decommissioning of nuclear facilities, the Directive defines the Community rules for the establishment, management and use of decommissioning funds allocated to a body with legal personality separate from that of the nuclear operator. In order to comply with the acquis communautaire, Romanian Government issued the Emergency Ordinance no. 11/2003 which set up the National Agency for Radioactive Waste (ANDRAD) and soon will be established the financial mechanism for raising the necessary funds. Societatea Nationala 'Nuclearelectrica' S.A. operates, through one of its branches, Cernavoda NPP Unit 1 and has to prepare its decommissioning strategy and to analyze the options to assure the financing for covering the future costs. The purpose of this paper is to clarify the financial systems' mechanisms to the satisfaction of the nuclear operator obligations, according to the disbursement schedule foreseen by decommissioning projects . The availability of cash to pay for all the decommissioning expenditure must be foreseen by setting up assets and establishing a suitable financing plan. The different practices of assets management shall be presented in this paper on the basis of the international experience. Some calculation samples shall be given as an illustration. (author)

  14. EDF - Quarterly Financial Information

    International Nuclear Information System (INIS)

    Trivi, Carole; Boissezon, Carine de; Hidra, Kader

    2014-01-01

    EDF's sales in the first quarter of 2014 were euro 21.2 billion, down 3.9% from the first quarter of 2013. At constant scope and exchange rates, sales were down 4.2% due to mild weather conditions, which impacted sales of electricity in France, gas sales abroad and trading activities in Europe. UK sales were nonetheless sustained by B2B sales due to higher realised wholesale market prices. In Italy, sales growth was driven by an increase in electricity volumes sold. The first quarter of 2014 also saw the strengthening of the Group's financial structure with the second phase of its multi-annual hybrid funding programme (nearly euro 4 billion equivalent) as well as the issue of two 100-year bonds in dollars and sterling aimed at significantly lengthening average debt maturity. 2014 outlook and 2014-2018 vision: - EDF Group has confirmed its financial objectives for 2014; - Group EBITDA excluding Edison: organic growth of at least 3%; - Edison EBITDA: recurring EBITDA target of euro 1 billion and at least euro 600 million in 2014 before effects of gas contract re-negotiations; - Net financial debt / EBITDA: between 2x and 2.5x; - Pay-out ratio of net income excluding non-recurring items post-hybrid: 55% to 65%. The Group has reaffirmed its goal of achieving positive cash flow after dividends, excluding Linky, in 2018

  15. A financial network perspective of financial institutions' systemic risk contributions

    Science.gov (United States)

    Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan

    2016-08-01

    This study considers the effects of the financial institutions' local topology structure in the financial network on their systemic risk contribution using data from the Chinese stock market. We first measure the systemic risk contribution with the Conditional Value-at-Risk (CoVaR) which is estimated by applying dynamic conditional correlation multivariate GARCH model (DCC-MVGARCH). Financial networks are constructed from dynamic conditional correlations (DCC) with graph filtering method of minimum spanning trees (MSTs). Then we investigate dynamics of systemic risk contributions of financial institution. Also we study dynamics of financial institution's local topology structure in the financial network. Finally, we analyze the quantitative relationships between the local topology structure and systemic risk contribution with panel data regression analysis. We find that financial institutions with greater node strength, larger node betweenness centrality, larger node closeness centrality and larger node clustering coefficient tend to be associated with larger systemic risk contributions.

  16. Quantifying Stock Return Distributions in Financial Markets.

    Science.gov (United States)

    Botta, Federico; Moat, Helen Susannah; Stanley, H Eugene; Preis, Tobias

    2015-01-01

    Being able to quantify the probability of large price changes in stock markets is of crucial importance in understanding financial crises that affect the lives of people worldwide. Large changes in stock market prices can arise abruptly, within a matter of minutes, or develop across much longer time scales. Here, we analyze a dataset comprising the stocks forming the Dow Jones Industrial Average at a second by second resolution in the period from January 2008 to July 2010 in order to quantify the distribution of changes in market prices at a range of time scales. We find that the tails of the distributions of logarithmic price changes, or returns, exhibit power law decays for time scales ranging from 300 seconds to 3600 seconds. For larger time scales, we find that the distributions tails exhibit exponential decay. Our findings may inform the development of models of market behavior across varying time scales.

  17. Integrated Financial Management Program

    Science.gov (United States)

    Pho, Susan

    2004-01-01

    Having worked in the Employees and Commercial Payments Branch of the Financial Management Division for the past 3 summers, I have seen the many changes that have occurred within the NASA organization. As I return each summer, I find that new programs and systems have been adapted to better serve the needs of the Center and of the Agency. The NASA Agency has transformed itself the past couple years with the implementation of the Integrated Financial Management Program (IFMP). IFMP is designed to allow the Agency to improve its management of its Financial, Physical, and Human Resources through the use of multiple enterprise module applications. With my mentor, Joseph Kan, being the branch chief of the Employees and Commercial Payments Branch, I have been exposed to several modules, such as Travel Manager, WebTads, and Core Financial/SAP, which were implemented in the last couple of years under the IFMP. The implementation of these agency-wide systems has sometimes proven to be troublesome. Prior to IFMP, each NASA Center utilizes their own systems for Payroll, Travel, Accounts Payable, etc. But with the implementation of the Integrated Financial Management Program, all the "legacy" systems had to be eliminated. As a result, a great deal of enhancement and preparation work is necessary to ease the transformation from the old systems to the new. All this work occurs simultaneously; for example, e-Payroll will "go live" in several months, but a system like Travel Manager will need to have information upgraded within the system to meet the requirements set by Headquarters. My assignments this summer have given me the opportunity to become involved with such work. So far, I have been given the opportunity to participate in projects resulting from a congressional request, several bankcard reconciliations, updating routing lists for Travel Manager, updating the majordomo list for Travel Manager approvers and point of contacts, and a NASA Headquarters project involving

  18. Financial inclusion: Policies and practices

    Directory of Open Access Journals (Sweden)

    Thankom Arun

    2015-12-01

    Full Text Available As a key enabler for development, financial inclusion is firmly placed on the agenda of most governments as a key policy priority. Against this background, this round table provides a global and regional perspective on the policies and practices of financial inclusion. Using macro data, the collection reveals the diversity in the efforts towards achieving financial inclusion and the need for a progressive approach in financial inclusion. Further to this, the round table provides the regional perspectives on the policies and practices of financial inclusion in India, South Africa, and Australia.

  19. College Students and Financial Distress: Exploring Debt, Financial Satisfaction, and Financial Anxiety

    Science.gov (United States)

    Archuleta, Kristy L.; Dale, Anita; Spann, Scott M.

    2013-01-01

    The impact of financial concerns on overall mental health has become a popular topic among researchers and practitioners. In this exploratory study, possible associations of financial anxiety were explored using a sample of 180 college students who sought services at a university peer financial counseling center in a Midwestern state. Of…

  20. 77 FR 35060 - Pfizer Therapeutic Research, Formerly Known as Warner Lambert Company, Pfizer Worldwide Research...

    Science.gov (United States)

    2012-06-12

    ... Research, Formerly Known as Warner Lambert Company, Pfizer Worldwide Research & Development Division... December 2, 2011, applicable to workers of Pfizer Therapeutic Research, Pfizer Worldwide Research... Worldwide Research & Development Division, Antibacterial Research Unit, Pharmacokinetics, Dynamics and...

  1. 77 FR 65582 - Pfizer Therapeutic Research, Pfizer Worldwide Reasearch & Development Division, Formerly Known as...

    Science.gov (United States)

    2012-10-29

    ... Research, Pfizer Worldwide Reasearch & Development Division, Formerly Known as Warner Lambert Company... workers of Pfizer Therapeutic Research, Pfizer Worldwide Research & Development Division, formerly known... follows: All workers of Pfizer Therapeutic Research, Pfizer Worldwide Research & Development Division...

  2. 78 FR 28630 - Pfizer Therapeutic Research, Pfizer Worldwide Research & Development Division, Formerly Known as...

    Science.gov (United States)

    2013-05-15

    ... Research, Pfizer Worldwide Research & Development Division, Formerly Known as Warner Lambert Company... Groton, Connecticut location of Pfizer Therapeutic Research, Pfizer Worldwide Research & Development... Worldwide Research & Development Division, formerly known as Warner Lambert Company, Comparative Medicine...

  3. Worldwide outlook clouded by market slump of late 1993

    International Nuclear Information System (INIS)

    Beck, R.J.

    1994-01-01

    Excess production and production capacity reasserted their influence in worldwide petroleum markets last year, pushing crude oil prices to their lowest levels since before the Persian Gulf crisis. The development ended the relative price stability that has characterized the period since the crisis ended in January 1991. One of the major questions now being asked is whether there has been a downward shift in the seasonal range of crude prices. In the near future, OPEC's degree of success in balancing the market will be a key to prices. Another is politics in the Middle East. If it were not for a United Nations embargo, the market would have another 2--3 million b/d of oil supply--from Iraq. The paper discusses worldwide demand, economic trends, the supply in 1993, the supply outlook, prices, and international drilling activities

  4. The promises and prospects of worldwide wireless power transfer

    International Nuclear Information System (INIS)

    Van Voorhies, K.L.; Smith, J.E.

    1991-01-01

    The promise of worldwide wireless power transfer began with the pioneering work of Nikola Tesla about 100 years ago. His principal approach is summarized. The viability of such a system must still be demonstrated and many questions remain. Potentially, a wireless system can transfer power more efficiently and flexibly, especially to and from remote regions. This paper includes principle elements of worldwide wireless power transfer: the source: an oscillator/transmitter, the path: the cavity bounded by the earth and the ionosphere, and the receiver: a means of extracting power from the path. The system transfers and stores energy via the resonance modes of the cavity. The key challenges facing demonstration of technical feasibility are in finding an efficient means of coupling power into and out of the earth-ionosphere cavity, and in devising a feasible receiver that is both small and efficient. Along with demonstrating technical feasibility, new research must consider safety, environmental impact, susceptibility to weather, and effects on weather

  5. Facilities for radiotherapy with ion beams status and worldwide developments

    CERN Document Server

    Wolf, B H

    1999-01-01

    Forty-five years after the first ion beam therapy in Berkeley around 25,000 cancer patients worldwide have been treated successfully. Ion accelerators, designed for nuclear research, delivered most of this treatment. The first hospital-based facility started operation in 1998 at Loma Linda California, the first for heavier ions at Chiba, Japan in 1994 and the first commercially delivered facilities started operation in 1998 at Kashiwa, Japan. In 2000, the Harvard Medical Centre, Boston, US, will commence operation and several new facilities are planned or under construction worldwide, although none in Australia. This paper will discuss the physical and biological advantages of ion beams over x-rays and electrons. In the treatment of cancer patients ion beam therapy is especially suited for localised tumours in radiation sensitive areas like skull or spine. Heavier ions are also effective in anoxic tumour cells (found around the normally oxygenated cell population). An additional advantage of the heavier carbo...

  6. Worldwide survey of damage from swallowing multiple magnets

    Energy Technology Data Exchange (ETDEWEB)

    Oestreich, Alan E. [Cincinnati Children' s Hospital Medical Center, Radiology Department 5031, Cincinnati, OH (United States)

    2009-02-15

    It is increasingly recognized that in children swallowed multiple magnets cause considerable damage to the gastrointestinal tract. To emphasize that complications from swallowed magnets are extensive worldwide and throughout childhood. The author surveyed radiologists and researched cases of magnet swallowing in the literature and documented age and gender, numbers of magnets, nature of the magnets, reasons for swallowing, and clinical course. A total of 128 instances of magnet swallowing were identified, one fatal. Cases from 21 countries were found. Magnet swallowing occurred throughout childhood, with most children older than 3 years of age. Numbers of swallowed magnets ranged up to 100. Twelve children were known to be autistic. Many reasons were given for swallowing magnets, and a wide range of gastrointestinal damage was encountered. Considerable delay before seeking medical assistance was frequent, as was delay before obtaining radiographs or US imaging. Damage from swallowing multiple magnets is a considerable worldwide problem. More educational and preventative measures are needed. (orig.)

  7. Relationship of Worldwide Rocket Launch Crashes with Geophysical Parameters

    Directory of Open Access Journals (Sweden)

    N. Romanova

    2013-01-01

    Full Text Available A statistical comparison of launch crashes at different worldwide space ports with geophysical factors has been performed. A comprehensive database has been compiled, which includes 50 years of information from the beginning of the space age in 1957 about launch crashes occurring world-wide. Special attention has been paid to statistics concerning launches at the largest space ports: Plesetsk, Baikonur, Cape Canaveral, and Vandenberg. In search of a possible influence of geophysical factors on launch failures, such parameters as the vehicle type, local time, season, sunspot number, high-energy electron fluxes, and solar proton events have been examined. Also, we have analyzed correlations with the geomagnetic indices as indirect indicators of the space weather condition. Regularities found in this study suggest that further detailed studies of space weather effects on launcher systems, especially in the high-latitude regions, should be performed.

  8. Worldwide survey of damage from swallowing multiple magnets

    International Nuclear Information System (INIS)

    Oestreich, Alan E.

    2009-01-01

    It is increasingly recognized that in children swallowed multiple magnets cause considerable damage to the gastrointestinal tract. To emphasize that complications from swallowed magnets are extensive worldwide and throughout childhood. The author surveyed radiologists and researched cases of magnet swallowing in the literature and documented age and gender, numbers of magnets, nature of the magnets, reasons for swallowing, and clinical course. A total of 128 instances of magnet swallowing were identified, one fatal. Cases from 21 countries were found. Magnet swallowing occurred throughout childhood, with most children older than 3 years of age. Numbers of swallowed magnets ranged up to 100. Twelve children were known to be autistic. Many reasons were given for swallowing magnets, and a wide range of gastrointestinal damage was encountered. Considerable delay before seeking medical assistance was frequent, as was delay before obtaining radiographs or US imaging. Damage from swallowing multiple magnets is a considerable worldwide problem. More educational and preventative measures are needed. (orig.)

  9. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.

  10. on International Financial Reporting Standards

    Directory of Open Access Journals (Sweden)

    Edyta Łazarowicz

    2016-07-01

    Full Text Available The article analyses and assesses proposals for changes concerning the objective of financial reportingbased on International Financial Reporting Standards (IFRS, presented in comments on the exposuredraft of the Conceptual Framework for Financial Reporting (2015. The majority of respondents thinkthat the objective of financial reporting should give more prominence to the importance of providinginformation about management’s stewardship. Moreover, some respondents suggest introducing thedefinition of stewardship into the Conceptual Framework and presenting implications of shifts in theobjective of financial reporting for the future standard setting and for preparing financial statements.Based on the analysis of comment letters and the review of accounting literature, the conclusion is thatthe objective of financial reporting should be changed. It is, however, disputable, if stewardship should bea separate object. There is too little research on the relation between the stewardship and decisionusefulnessobjectives. The findings of this research could show accounting standard-setters the potentialtrade-offs and conflicts between these objectives.

  11. Public health financial management competencies.

    Science.gov (United States)

    Honoré, Peggy A; Costich, Julia F

    2009-01-01

    The absence of appropriate financial management competencies has impeded progress in advancing the field of public health finance. It also inhibits the ability to professionalize this sector of the workforce. Financial managers should play a critical role by providing information relevant to decision making. The lack of fundamental financial management knowledge and skills is a barrier to fulfilling this role. A national expert committee was convened to examine this issue. The committee reviewed standards related to financial and business management practices within public health and closely related areas. Alignments were made with national standards such as those established for government chief financial officers. On the basis of this analysis, a comprehensive set of public health financial management competencies was identified and examined further by a review panel. At a minimum, the competencies can be used to define job descriptions, assess job performance, identify critical gaps in financial analysis, create career paths, and design educational programs.

  12. Crude oil: worldwide inquiry on a destructive wealth

    International Nuclear Information System (INIS)

    Maass, P.

    2010-01-01

    More and more scarce, petroleum appears as much as an advantage as a malediction for the countries who owns some. Petroleum is very often synonymous of war, poverty, fundamentalism, pollution, or anarchy. Thanks to a large range of testimonies gathered in many oil producing countries, the author gives an overview of the worldwide fight in which oil industry actors are engaged and presents its deleterious influence on economies and populations. (J.S.)

  13. Worldwide prevalence and incidence of osteoporotic vertebral fractures.

    Science.gov (United States)

    Ballane, G; Cauley, J A; Luckey, M M; El-Hajj Fuleihan, G

    2017-05-01

    We investigated the prevalence and incidence of vertebral fractures worldwide. We used a systematic Medline search current to 2015 and updated as per authors' libraries. A total of 62 articles of fair to good quality and comparable methods for vertebral fracture identification were considered. The prevalence of morphometric vertebral fractures in European women is highest in Scandinavia (26%) and lowest in Eastern Europe (18%). Prevalence rates in North America (NA) for White women ≥50 are 20-24%, with a White/Black ratio of 1.6. Rates in women ≥50 years in Latin America are overall lower than Europe and NA (11-19%). In Asia, rates in women above ≥65 are highest in Japan (24%), lowest in Indonesia (9%), and in the Middle East, Lebanon, rates are 20%. The highest-lowest ratio between countries, within and across continents, varied from 1.4-2.6. Incidence data is less abundant and more heterogeneous. Age-standardized rates in studies combining hospitalized and ambulatory vertebral fractures are highest in South Korea, USA, and Hong Kong and lowest in the UK. Neither a North-South gradient nor a relation to urbanization is evident. Conversely, the incidence of hospitalized vertebral fractures in European patients ≥50 shows a North-South gradient with 3-3.7-fold variability. In the USA, rates in Whites are approximately 4-fold higher than in Blacks. Vertebral fractures variation worldwide is lower than observed with hip fractures, and some of highest rates are unexpectedly from Asia. Better quality representative studies are needed. We investigate the occurrence of vertebral fractures, worldwide, using published data current until the present. Worldwide, the variation in vertebral fractures is lower than observed for hip fractures. Some of the highest rates are from North America and unexpectedly Asia. The highest-lowest ratio between countries, within and across continents, varied from 1.4-2.6. Better quality representative data is needed.

  14. World-Wide Outreach through International Observe the Moon Night

    Science.gov (United States)

    Buxner, S.; Jones, A. P.; Bleacher, L.; Shaner, A. J.; Day, B. H.; Wenger, M.; Joseph, E.; Canipe, M.

    2016-12-01

    International Observe the Moon Night (InOMN) is an annual worldwide public event that encourages observation, appreciation, and understanding of our Moon and its connection to NASA planetary science and exploration. Everyone on Earth is invited to join the celebration by hosting or attending an InOMN event - and uniting on one day each year to look at and learn about the Moon together. Events are hosted by a variety of institutions including astronomy clubs, observatories, schools, and universities, museums, planetaria, schools, universities, observatories, parks, private businesses and private homes. Events hosts are supported with event flyers, information sheets, Moon maps for observing, activities to use during events, presentations, certificates of participation, and evaluation materials to be used by hosts. 2016 is the seventh year of worldwide participation in InOMN which will be held on October 8th. In the last six years, over 3,000 events were registered worldwide from almost 100 different countries and almost all 50 states and the District of Columbia in the United States. Evaluation of InOMN is conducted by an external evaluation group and includes analysis of event registrations, facilitator surveys, and visitor surveys. Evaluation results demonstrate that InOMN events are successful in raising visitors' awareness of lunar science and exploration, providing audiences with information about lunar science and exploration, and inspiring visitors to want to learn more about the Moon. Additionally, preliminary analysis of social media has shown that there is a virtual network of individuals connecting about InOMN. A large fraction of events have been held by institutions for more than one year showing sustained interest in participation. During this presentation, we will present data for all seven years of InOMN including lessons learned through supporting and evaluating a worldwide event. InOMN is sponsored by NASA's Lunar Reconnaissance Orbiter, NASA

  15. Contemporary use and practice of electroconvulsive therapy worldwide

    Science.gov (United States)

    Leiknes, Kari Ann; Jarosh-von Schweder, Lindy; Høie, Bjørg

    2012-01-01

    To explore contemporary (from 1990) utilization and practice of electroconvulsive therapy (ECT) worldwide. Systematic search (limited to studies published 1990 and after) was undertaken in the databases Medline, Embase, PsycINFO, SveMed, and EBSCO/Cinahl. Primary data-based studies/surveys with reported ECT utilization and practice in psychiatric institutions internationally, nationally, and regionally; city were included. Two reviewers independently checked study titles and abstracts according to inclusion criteria, and extracted ECT utilization and practice data from those retrieved in full text. Seventy studies were included, seven from Australia and New Zealand, three Africa, 12 North and Latin America, 33 Europe, and 15 Asia. Worldwide ECT differences and trends were evident, average number ECTs administered per patient were eight; unmodified (without anesthesia) was used in Asia (over 90%), Africa, Latin America, Russia, Turkey, Spain. Worldwide preferred electrode placement was bilateral, except unilateral at some places (Europe and Australia/New Zealand). Although mainstream was brief-pulse wave, sine-wave devices were still used. Majority ECT treated were older women with depression in Western countries, versus younger men with schizophrenia in Asian countries. ECT under involuntary conditions (admissions), use of ambulatory-ECT, acute first line of treatment, as well as administered by other professions (geriatricians, nurses) were noted by some sites. General trends were only some institutions within the same country providing ECT, training inadequate, and guidelines not followed. Mandatory reporting and overall country ECT register data were sparse. Many patients are still treated with unmodified ECT today. Large global variation in ECT utilization, administration, and practice advocates a need for worldwide sharing of knowledge about ECT, reflection, and learning from each other's experiences. PMID:22741102

  16. Searching for the corner seismic moment in worldwide data

    International Nuclear Information System (INIS)

    Felgueiras, Miguel; Santos, Rui; Martins, João Paulo

    2015-01-01

    In this paper the existence of the corner frequency value for the seismic moment distribution is investigated, analysing worldwide data. Pareto based distributions, usually considered as the most suitable to this type of data, are fitted to the most recent data, available in a global earthquake catalog. Despite the undeniable finite nature of the seismic moment data, we conclude that no corner frequency can be established considering the available data set

  17. Trends in worldwide nanotechnology patent applications: 1991 to 2008

    OpenAIRE

    Dang, Yan; Zhang, Yulei; Fan, Li; Chen, Hsinchun; Roco, Mihail C.

    2009-01-01

    Nanotechnology patent applications published during 1991?2008 have been examined using the ?title?abstract? keyword search on esp@cenet ?worldwide? database. The longitudinal evolution of the number of patent applications, their topics, and their respective patent families have been evaluated for 15 national patent offices covering 98% of the total global activity. The patent offices of the United States (USA), People?s Republic of China (PRC), Japan, and South Korea have published the larges...

  18. PubData: search engine for bioinformatics databases worldwide

    OpenAIRE

    Vand, Kasra; Wahlestedt, Thor; Khomtchouk, Kelly; Sayed, Mohammed; Wahlestedt, Claes; Khomtchouk, Bohdan

    2016-01-01

    We propose a search engine and file retrieval system for all bioinformatics databases worldwide. PubData searches biomedical data in a user-friendly fashion similar to how PubMed searches biomedical literature. PubData is built on novel network programming, natural language processing, and artificial intelligence algorithms that can patch into the file transfer protocol servers of any user-specified bioinformatics database, query its contents, retrieve files for download, and adapt to the use...

  19. Effects of Worldwide Population Subdivision on ALDH2 Linkage Disequilibrium

    OpenAIRE

    Peterson, Raymond J.; Goldman, David; Long, Jeffrey C.

    1999-01-01

    The effect of human population subdivision on linkage disequilibrium has previously been studied for unlinked genes. However, no study has focused on closely linked polymorphisms or formally partitioned linkage disequilibrium within and among worldwide populations. With an emphasis on population subdivision, the goal of this paper is to investigate the causes of linkage disequilibrium in ALDH2, the gene that encodes aldehyde dehydrogenase 2. Haplotypes for 756 people from 17 populations acros...

  20. WorldWide Telescope Ambassadors: A Year 3 Update

    OpenAIRE

    Udomprasert, Patricia S; Goodman, Alyssa A.; Wong, Curtis

    2013-01-01

    We give a brief overview of some key features of WorldWide Telescope and its Ambassadors Program, and we describe two goals for expanding the program in the coming year: scaling up training efforts; and developing “plug and play” Visualization Lab modules that teach key Earth and Space Science concepts to students while emphasizing important scientific processes and skills. We discuss several different ways that members of the astronomy education and outreach community can incorporate WWT-bas...

  1. THE EFFECT OF EXCHANGE RATE VOLATILITY ON WHEAT TRADE WORLDWIDE

    OpenAIRE

    Sun, Changyou; Kim, Mina; Koo, Won W.; Cho, Guedae; Jin, Hyun Joung

    2002-01-01

    A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within panel framework. Short and long-term measures of exchange rate volatility were constructed and compared. Both measures of exchange rate volatility have exhibited a negative effect on world wheat trade and the long-term effect was even larger. This result implies that exchange rate volatil...

  2. Gene therapy clinical trials worldwide to 2017: An update.

    Science.gov (United States)

    Ginn, Samantha L; Amaya, Anais K; Alexander, Ian E; Edelstein, Michael; Abedi, Mohammad R

    2018-03-25

    To date, almost 2600 gene therapy clinical trials have been completed, are ongoing or have been approved worldwide. Our database brings together global information on gene therapy clinical activity from trial databases, official agency sources, published literature, conference presentations and posters kindly provided to us by individual investigators or trial sponsors. This review presents our analysis of clinical trials that, to the best of our knowledge, have been or are being performed worldwide. As of our November 2017 update, we have entries on 2597 trials undertaken in 38 countries. We have analysed the geographical distribution of trials, the disease indications (or other reasons) for trials, the proportions to which different vector types are used, and the genes that have been transferred. Details of the analyses presented, and our searchable database are available via The Journal of Gene Medicine Gene Therapy Clinical Trials Worldwide website at: http://www.wiley.co.uk/genmed/clinical. We also provide an overview of the progress being made in gene therapy clinical trials around the world, and discuss key trends since the previous review, namely the use of chimeric antigen receptor T cells for the treatment of cancer and advancements in genome editing technologies, which have the potential to transform the field moving forward. Copyright © 2018 John Wiley & Sons, Ltd.

  3. Worldwide prevalence and risk factors for feline hyperthyroidism: A review.

    Science.gov (United States)

    McLean, Joanne L; Lobetti, Remo G; Schoeman, Johan P

    2014-11-14

    Since first reported in the late 1970s, there has been a steady but dramatic increase in the worldwide prevalence of hyperthyroidism in cats. It is now regarded as the most common feline endocrine disorder, with diabetes mellitus coming a close second. Not only is there evidence for an increased worldwide prevalence of feline hyperthyroidism, but also for geographical variation in the prevalence of the disease. Despite its frequency, the underlying cause(s) of this common disease is or are not known, and therefore prevention of the disease is not possible. Due to the multiple risk factors that have been described for feline hyperthyroidism, however, it is likely that more than one factor is involved in its pathogenesis. Continuous, lifelong exposure to environmental thyroid-disruptor chemicals or goitrogens in food or water, acting together or in an additive fashion, may lead to euthyroid goitre and ultimately to autonomous adenomatous hyperplasia, thyroid adenoma and hyperthyroidism. This review aims to summarise the available published evidence for the changes observed in the worldwide prevalence of the disease, as well as risk factors that may contribute to development of hyperthyroidism in susceptible cats.

  4. Worldwide prevalence and risk factors for feline hyperthyroidism: A review

    Directory of Open Access Journals (Sweden)

    Joanne L. McLean

    2014-11-01

    Full Text Available Since first reported in the late 1970s, there has been a steady but dramatic increase in the worldwide prevalence of hyperthyroidism in cats. It is now regarded as the most common feline endocrine disorder, with diabetes mellitus coming a close second. Not only is there evidence for an increased worldwide prevalence of feline hyperthyroidism, but also for geographical variation in the prevalence of the disease. Despite its frequency, the underlying cause(s of this common disease is or are not known, and therefore prevention of the disease is not possible. Due to the multiple risk factors that have been described for feline hyperthyroidism, however, it is likely that more than one factor is involved in its pathogenesis. Continuous, lifelong exposure to environmental thyroid-disruptor chemicals or goitrogens in food or water, acting together or in an additive fashion, may lead to euthyroid goitre and ultimately to autonomous adenomatous hyperplasia, thyroid adenoma and hyperthyroidism. This review aims to summarise the available published evidence for the changes observed in the worldwide prevalence of the disease, as well as risk factors that may contribute to development of hyperthyroidism in susceptible cats.

  5. Pepino Mosaic Virus: a serious threat to tomato plants worldwide

    Directory of Open Access Journals (Sweden)

    Imane BIBI

    2017-09-01

    Full Text Available omato (Solanum lycopersicum is one of the widely grown crops worldwide. It is consumed in various forms and has excellent nutritional values. Presently, this crop is facing a serious threat to its yield and survival because of a potexvirus infection. One of the potexvirus species hampering tomato productions worldwide is Pepino mosaic virus (PepMV. This emerging virus is one of the most destructive plant diseases destroying tomato crops globally. It has spread to many countries worldwide including France, Italy, the UK, Poland, Belgium, the USA, Canada and China. PepMV genome consists of a positive-sense, single-stranded RNA molecule, approximately 6.4 kb in length. The genomic RNA contains five open reading frames (ORFs encoding for the coat protein (CP, the putative viral polymerase (RdRp and the triple gene block (TGB proteins. PepMV is efficiently transmitted mechanically. In other studies, seed transmission has been demonstrated. This article provides an overview of PepMV symptoms, transmission, different strains of PepMV, its genome organization and strategies employed for controlling it. The knowledge about the recent progress in the study of PepMV would help develop novel strategies for its control in agriculture.

  6. Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2013-09-01

    Full Text Available Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

  7. Measuring financial performance: an overview of financial statements.

    Science.gov (United States)

    Dalsted, N L

    1995-07-01

    Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.

  8. Financial Bubbles, Real Estate Bubbles, Derivative Bubbles, and the Financial and Economic Crisis

    Science.gov (United States)

    Sornette, Didier; Woodard, Ryan

    The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led and is continuing to lead to massive losses and damage for billions of people. Heavy central bank interventions and government spending programs have been launched worldwide and especially in the USA and Europe, with the hope to unfreeze credit and bolster consumption. Here, we present evidence and articulate a general framework that allows one to diagnose the fundamental cause of the unfolding financial and economic crisis: the accumulation of several bubbles and their interplay and mutual reinforcement have led to an illusion of a "perpetual money machine" allowing financial institutions to extract wealth from an unsustainable artificial process. Taking stock of this diagnostic, we conclude that many of the interventions to address the so-called liquidity crisis and to encourage more consumption are ill-advised and even dangerous, given that precautionary reserves were not accumulated in the "good times" but that huge liabilities were. The most "interesting" present times constitute unique opportunities but also great challenges, for which we offer a few recommendations.

  9. GOLD NETTING TO STRENGTHEN FINANCIAL SYSTEM STABILITY

    Directory of Open Access Journals (Sweden)

    Ahamed Kameel Mydin Meera

    2017-08-01

    Full Text Available Economic and financial crises seem to occur with increased frequency. Indeed now most countries, including several advanced economies like the US, Europe and Japan, are in serious economic recession. Employment and business opportunities have been much dampened. Inflation seems to be soaring globally and nations are witnessing widening gaps in income and wealth distribution. Many of these advanced economies are also facing shrinking population sizes that translate into aging problems and labor shortages. On top of those, there are environmental issues, including global warming. All these, in turn, have caused regional and global political conflicts and turmoil. The Arab Spring and the sovereign debt problems faced by some European countries like Greece are examples of this. Sustainability of economics and environment is thus of paramount concern of today. This paper considers those problems and suggests Interest-free Gold-based Electronic Netting System (IGENS as an effective way of injecting liquidity into the economy, practically free, that can spur business and employment while bringing about structural stability, inflation checked with both economic and environmental sustainability. Netting or muqassah is a transaction allowed in shari’ah and is practiced worldwide in different forms. Examples include the highly successful WIR Bank of Switzerland, various Local Exchange Trading Schemes (LETS and Bilateral and Multilateral Payment Arrangements between central banks.   Keywords:  Global crisis, Payment system, Gold, Netting, Muqassah, Liquidity, Sustainability, Financial system stability JEL Classification: E40, E42, E51

  10. Reconfiguring the Financial Markets

    Directory of Open Access Journals (Sweden)

    Ion Bucur

    2009-12-01

    Full Text Available The debut of the new millennium is marked by the increased economic and social imbalances. An important task of economic science is to identify the causes and factors that contributed to the radical transformation of the unfolding conditions of economic activity. The existence of different perspectives to approach the new realities may offer greater opportunities for decrypting the conditions that generated so far unknown developments, as well as for shaping solutions to promote new paths of progress and civilization. The defining with profound implications on the economy and society is represented by the globalization. From this perspective, we have analysed the new dimensions of capital accumulation and economic growth in the context of deregulation and liberalization of the international capital movements. In this context, we have noticed the increasing influence of the financial markets on the economy, the tendency to remove the finances from the real economy requirements, the growing role of external financing using more volatile capital goods, increased competition regarding the access to financing, the significant increase of power of the international capital markets whose characteristic is represented by the increased instability, the implications of the investors’ obsession with an excessive profitableness of their own funds and the expansion of using sophisticated financial products. Realities of today’s financial markets, which are the subject of numerous studies and analysis, have contributed to the association of the arguments that are contesting the thesis on the virtues of self-regulation markets and promoting a new paradigm, within which finances should subordinate the requirements of a balanced and sustained economic growth.

  11. Offshoring and financial markets

    Directory of Open Access Journals (Sweden)

    Gianfranco Battisti

    2014-06-01

    Full Text Available The paper analyses the nature and extent of the offshore world, a grey area that is playing a major role in present-day economy. The main institutions moulding this peculiar environment are discussed: preferential tax regimes, tax havens and offshore financial centers. Their role in the globalised world is outlined after a scrutiny of the specialized literature, reports by non-governmental bodies and companies’ advertisings. Finally, we present a tentative reconstruction of its geographical organization, inclusive of cartographic representations of the main international networks.

  12. Analyzing Chinese Financial Reporting

    Institute of Scientific and Technical Information of China (English)

    SABRINA; ZHANG

    2008-01-01

    If the world’s capital markets could use a harmonized accounting framework it would not be necessary for a comparison between two or more sets of accounting standards. However,there is much to do before this becomes reality.This article aims to pres- ent a general overview of China’s General Accepted Accounting Principles(GAAP), U.S.General Accepted Accounting Principles and International Financial Reporting Standards(IFRS),and to analyze the differ- ences among IFRS,U.S.GAAP and China GAAP using fixed assets as an example.

  13. Financial and Non Financial Factors on Going-Concern Opinion

    Directory of Open Access Journals (Sweden)

    Junaidi Junaidi

    2012-09-01

    Full Text Available Company's ability to survive is a fundamental uncertainty faced in the preparation and auditing financial statements. Provision of going-concern opinion on these financial statements the company is still being debated. Public Accountant Professional Standards in section 341 states that the auditor is responsible for evaluating whether there is a major doubt on the ability of entities in the continued survival of the appropriate period of time, not more than one year from the date of the financial statements being audited. This research analyzed the financial and non financial factors that affected the provision of going-concern opinion. This research used samples of 63 companies with 315 observations, taken from years 2005-2009. The logistic regression analysis showed that the company's financial condition variables, mitigating evidence, and disclosure significantly influence the acceptance of going-concern opinion. Enterprise risk was not significant at propensity of going-concern opinion.

  14. Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions

    Directory of Open Access Journals (Sweden)

    Natalie Gallery

    2011-06-01

    Full Text Available There is a worldwide trend towards rapidly growing defined contribution pension funds in terms of assets andmembership, and the choices available to individuals. This has shifted the decisionmaking responsibility tofund members for managing the investment of their retirement savings. This change has given rise to aphenomenon where most superannuation fund members are responsible for either actively choosing orpassively relying on their funds’ default investment options. Prior research identifies that deficiencies infinancial literacy is one of the causes of inertia in financial decision-making and findings from internationaland Australian studies show that financial illiteracy is wide-spread. Given the potential significant economicand social consequences of poor financial decision-making in superannuation matters, this paper proposes aframework by which the various demographic, social and contextual factors that influence fund members’financial literacy and its association with investment choice decisions are explored. Enhanced theoretical andempirical understanding of the factors that are associated with active/passive investment choice decisionswould enable development of well-targeted financial education programs.

  15. Genesis nature of financial strategy

    Directory of Open Access Journals (Sweden)

    O.V. Pashchenko

    2015-03-01

    Full Text Available The article is devoted to the study of the origin and history of the interpretation of the genesis of «strategy», «financial strategy», its elements and composite types. Scientists studied different views on the concept of strategy. Several specific positions founders of different approaches to define the strategy of schools operating strategies involved in the formulation and implementation of the concept of «strategy». Evaluation of different schools of strategies that deepened understanding of the industry and its strategy in the early stages of formation. Based on the works of various scholars studied by the author actually proposed interpretation of the concept strategy. The general industry and functional strategies which include the following strategies: innovation, resource, financial, production, marketing and human resources. Allocated financial strategy and its significant impact on other strategies. Author developed financial sector strategy and financial strategy of competitive enterprise. The importance of financial strategies under conditions of companies and the industry as a whole, as well as components of development of financial strategy. Deals with the factors that must be considered in the development and implementation of financial strategies. The systems analysis strategies and the impact on financial results, the estimation of their attractiveness and risk. Considered classification on the basis of financial strategies and sectoral orientation of the financial sector strategy based on company size, its form and noted the importance of this trait in systematizing strategies. The expediency of the financial strategy. Defined competitive advantage and efficiency of business and industry through the implementation of various financial strategies.

  16. Financial Statements in Providing Financial Security of Agricultural Enterprises

    OpenAIRE

    Olha Vdovenko

    2014-01-01

    In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...

  17. Financial Economy and Financial System: Basis of Structural Interconnection

    OpenAIRE

    Khorosheva Olena I.

    2014-01-01

    The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an ...

  18. Financial Management, Profile of the Air Force Financial Managers

    National Research Council Canada - National Science Library

    1997-01-01

    ... are confined to comparable organizations and financial management positions in the services. These positions most often include comptrollers, deputy comptrollers, and budget officers located at operational...

  19. Financial top 100

    International Nuclear Information System (INIS)

    Jaremko, G.

    1999-01-01

    The way in which the oil industry has rebounded from a difficult financial year was discussed. In 1998, oil prices fell by about 30 per cent from 1997 prices to average US$14.40. In the second quarter of 1999, the rebounding international markets raised oil prices by about one-third to an average US$17.60. Recent surveys have shown that the oil and gas industry will experience major changes in the decade ahead. It was forecasted that in 25 years, total Canadian oil production could near three million barrels per day, an increase of 36 per cent from today's 2.2 million. However, as conventional reserves are running out, production of conventional oil is expected to be diminished by about two-thirds. Naturally-occurring, light refinery-ready oil is forecasted to come mostly from the east coast, whereas western output will be dominated by oil sands. Natural gas will continue to be a huge growth opportunity in the west because of new pipeline expansions and exports to the United States. This paper presented a list of Canada's financial top 100 oil and gas companies which emerged with the best endurance. The list included statistics from 1997 and 1998 for gross revenues, total assets, net income, cash/operating activities, capital expenditures, closing share prices (with percentage change), and market capitalization. 1 fig., 1 tab

  20. FINANCIAL DIAGNOSIS OF STOCKS

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2014-12-01

    Full Text Available Financial diagnosis is a part of a company’s general diagnosis. The role of the financial diagnosis is to establish the situation of the company at a given time, to see if it is viable, to help the decision-makers to take the best measures to continue or cease the activity, or to sell, buy or liquidate the company. Each entity is unique and arbitrarily applying some analysis models used by other companies can lead to significant errors. One cannot analyze in the same way a company that produces household products and a trade company. In the first one, the working capital must be positive, because permanent capitals must finance the fixed assets which have a high value, and the working capital will finance the operating cycle. In case of a trade company, a negative working capital might represent a positive activity, because the duration of the operating cycle is much shorter, and short term sources can also finance the company’s tangible assets.

  1. Approaches to the development of cognitive process dimensions in financial literacy: an empirical study

    Directory of Open Access Journals (Sweden)

    Kateřina Berková

    2017-10-01

    Full Text Available The article explores various approaches to the development of cognitive process dimensions in financial literacy. It is based on the empirical research of the financial literacy levels among 1,207 fifteen-year-old Czech students compared with 18 countries worldwide (OECD, 2014a. Applying the regression model, the study has examined the strength of the relationship between the actual financial competence of 284 Czech students aged 17-18, studying economic disciplines, and their school performance. The research has produced the following conclusions: (a a weak dependence of actual skills on school performance; (b inherently associated consequence of school performance is not corresponding to the actual financial skills; (c a low level of financial competence in the dimensions - Remember, Understand and Apply. Proceeding from the research results, it will be desirable to focus on the transfer of economic methods and foreign practice into the learning process, thereby contributing to the improvement of the current situation in Czech Republic.

  2. Some considerations on the reform of the international monetary and financial system

    OpenAIRE

    E. GRILLI

    1999-01-01

    The paper discusses different views on the reform of the International Monetary System. It illustrates the most recent antecedents of the current debate, focusing on criteria, determinants and effects of the choice among different exchange regimes and discussing in particular the relationship between fixed exchange rates and financial crises, and the relationship between exchange rates and worldwide freedom of capital movements.

  3. The financial crisis and its effects: Perspectives from economics and psychology

    NARCIS (Netherlands)

    Greenglass, E.; Antonides, G.; Christandl, F.; Foster, G.; Katter, J.K.Q.; Kaufman, B.E.; Lea, S.E.G.

    2014-01-01

    The recent financial crisis has affected most countries. With cutbacks in business, trade and government spending, millions world-wide have lost their jobs, with young people disproportinately affected. This paper synthesizes the thoughts expressed during an interdisciplinary discussion held in July

  4. The Accounting Network: How Financial Institutions React to Systemic Crisis.

    Science.gov (United States)

    Puliga, Michelangelo; Flori, Andrea; Pappalardo, Giuseppe; Chessa, Alessandro; Pammolli, Fabio

    2016-01-01

    The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies' financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001-2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio) capable of trading off the size of the sample (coverage) and the representativeness of the financial statements (accuracy). We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible regional aggregations show up with the Japanese and the US clusters dominating the community structure, although the presence of a geographically mixed community points to a gradual convergence of banks into similar supranational practices. Finally, a Principal Component Analysis procedure reveals the main economic components that influence communities' heterogeneity. Even using the most basic vector similarity hypotheses on the composition of the financial statements, the signature of the financial crisis clearly arises across the years around 2008. We finally discuss how the Accounting Networks can be improved to reflect the best practices in the financial statement analysis.

  5. The Accounting Network: How Financial Institutions React to Systemic Crisis

    Science.gov (United States)

    Puliga, Michelangelo; Flori, Andrea; Pappalardo, Giuseppe; Chessa, Alessandro; Pammolli, Fabio

    2016-01-01

    The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies’ financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001–2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio) capable of trading off the size of the sample (coverage) and the representativeness of the financial statements (accuracy). We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible regional aggregations show up with the Japanese and the US clusters dominating the community structure, although the presence of a geographically mixed community points to a gradual convergence of banks into similar supranational practices. Finally, a Principal Component Analysis procedure reveals the main economic components that influence communities’ heterogeneity. Even using the most basic vector similarity hypotheses on the composition of the financial statements, the signature of the financial crisis clearly arises across the years around 2008. We finally discuss how the Accounting Networks can be improved to reflect the best practices in the financial statement analysis. PMID:27736865

  6. The Accounting Network: How Financial Institutions React to Systemic Crisis.

    Directory of Open Access Journals (Sweden)

    Michelangelo Puliga

    Full Text Available The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies' financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001-2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio capable of trading off the size of the sample (coverage and the representativeness of the financial statements (accuracy. We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible regional aggregations show up with the Japanese and the US clusters dominating the community structure, although the presence of a geographically mixed community points to a gradual convergence of banks into similar supranational practices. Finally, a Principal Component Analysis procedure reveals the main economic components that influence communities' heterogeneity. Even using the most basic vector similarity hypotheses on the composition of the financial statements, the signature of the financial crisis clearly arises across the years around 2008. We finally discuss how the Accounting Networks can be improved to reflect the best practices in the financial statement analysis.

  7. Statistical inference for financial engineering

    CERN Document Server

    Taniguchi, Masanobu; Ogata, Hiroaki; Taniai, Hiroyuki

    2014-01-01

    This monograph provides the fundamentals of statistical inference for financial engineering and covers some selected methods suitable for analyzing financial time series data. In order to describe the actual financial data, various stochastic processes, e.g. non-Gaussian linear processes, non-linear processes, long-memory processes, locally stationary processes etc. are introduced and their optimal estimation is considered as well. This book also includes several statistical approaches, e.g., discriminant analysis, the empirical likelihood method, control variate method, quantile regression, realized volatility etc., which have been recently developed and are considered to be powerful tools for analyzing the financial data, establishing a new bridge between time series and financial engineering. This book is well suited as a professional reference book on finance, statistics and statistical financial engineering. Readers are expected to have an undergraduate-level knowledge of statistics.

  8. Financial Literacy: Empirical Sociological Approaches

    Directory of Open Access Journals (Sweden)

    Henye Livia Kovacsne

    2015-05-01

    Full Text Available The recent financial crises that started in the USA and spread all over Europe highlighted the importance of research in the field of financial culture. A variety of research projects pointed out that the general population’s financial literacy is lacking basic knowledge. The ever changing economic climate, demographic changes, tendencies in the financial processing sector and the acceleration in product innovation put considerable pressure on the everyday decision making process of a household. The overview of the international and national research on the subject proves that the improving of the population’s, especially the young people’s financial literacy is a priority both in leading economic countries and in Hungary, too. The idea of financial culture is as complex as the variety of research into the topic proves it. This article aims to point out the complicated nature of the notion and the variety of research that has been inserted into it.

  9. A REVIEW OF FINANCIAL EDUCATION

    Directory of Open Access Journals (Sweden)

    Fatih Temizel

    2015-07-01

    Full Text Available This study determines the importance of financial education in contemporary societies. A review of various organizations for increasing financial education whose individual and societal importance has been internationally accepted is also offered. Towards this end initiatives undertaken by international organizations and national authorities are examined. Aspects of these initiatives that can be offered as best practices for developing nations are identified. For the Turkish case financial education examples that can be organized under public authority leadership, with NGO participation are collated. Various experiences about measuring and increasing financial literacy are examined. Among these are the implementations in Australia, Japan, England and the United States. It is put forth, in light of international experience, that increasing access to financial education and efficiency of financial services are possible through, informing, education and consulting.

  10. Macroprudential policy and financial stability

    Directory of Open Access Journals (Sweden)

    Bogdan CHIRIACESCU

    2013-02-01

    Full Text Available This paper tries a conceptual framing of the issue of financial stability in economic theory and also to identify solutions to address episodes of financial instability. An essential reference is Minsky's financial instability hypothesis, which argues that a fundamental feature of the financial system is that it swings between robustness and fragility and these pendulum swings are an integral part of the process that generates the business cycle. Studies show that the effects of banking crises on economic activity are important both in magnitude and duration. Recently, macroprudential policy stood out as a central pillar in promoting financial stability in a broad sense. Regarding specific objectives of macroprudential policy, the prevalent vision refers to limiting systemic risk and macroeconomic costs of financial crises, but there are also important nuances.

  11. Traumatic Spinal Injury: Global Epidemiology and Worldwide Volume.

    Science.gov (United States)

    Kumar, Ramesh; Lim, Jaims; Mekary, Rania A; Rattani, Abbas; Dewan, Michael C; Sharif, Salman Y; Osorio-Fonseca, Enrique; Park, Kee B

    2018-05-01

    Traumatic spinal injury (TSI) results from injury to bony, ligamentous, and/or neurologic structures of the spinal column and can cause significant morbidity and mortality. The global burden of TSI is poorly understood, so we performed a systematic review and meta-analysis to estimate the global volume of TSI. We performed a systematic review through PubMed, Embase, and Cochrane Databases on TSI studies reported from 2000 to 2016. Collected data were used to perform a meta-analysis to estimate the annual incidence of TSI across World Health Organization regions and World Bank income groups using random-effect models. Incorporating global population figures, the annual worldwide volume of TSI was estimated. A total of 102 studies were included in the systematic review and 19 studies in the meta-analysis. The overall global incidence of TSI was 10.5 cases per 100,000 persons, resulting in an estimated 768,473 [95% confidence interval, 597,213-939,732] new cases of TSI annually worldwide. The incidence of TSI was higher in low- and middle-income countries (8.72 per 100,000 persons) compared with high-income countries (13.69 per 100,000 persons). Road traffic accidents, followed by falls, were the most common mechanism of TSI worldwide. Overall, 48.8% of patients with TSI required surgery. TSI is a major source of morbidity and mortality throughout the world. Largely preventable mechanisms, including road traffic accidents and falls, are the main causes of TSI globally. Further investigation is needed to delineate local and regional TSI incidences and causes, especially in low- and middle-income countries. Copyright © 2018 Elsevier Inc. All rights reserved.

  12. Reassessment of MLST schemes for Leptospira spp. typing worldwide.

    Science.gov (United States)

    Varni, Vanina; Ruybal, Paula; Lauthier, Juan José; Tomasini, Nicolás; Brihuega, Bibiana; Koval, Ariel; Caimi, Karina

    2014-03-01

    Leptospirosis is a neglected zoonosis of global importance. Several multilocus sequence typing (MLST) methods have been developed for Leptospira spp., the causative agent of leptospirosis. In this study we reassessed the most commonly used MLST schemes in a set of worldwide isolates, in order to select the loci that achieve the maximum power of discrimination for typing Leptospira spp. Global eBURST algorithm was used to detect clonal complexes among STs and phylogenetic relationships among concatenated and individual sequences were inferred through maximum likelihood (ML) analysis. The evaluation of 12 loci combined to type a subset of strains rendered 57 different STs. Seven of these loci were selected into a final scheme upon studying the number of alleles and polymorphisms, the typing efficiency, the discriminatory power and the ratio dN/dS per nucleotide site for each locus. This new 7-locus scheme was applied to a wider collection of worldwide strains. The ML tree constructed from concatenated sequences of the 7 loci identified 6 major clusters corresponding to 6 Leptospira species. Global eBURST established 8 CCs, which showed that genotypes were clearly related by geographic origin and host. ST52 and ST47, represented mostly by Argentinian isolates, grouped the higher number of isolates. These isolates were serotyped as serogroups Pomona and Icterohaemorrhagiae, showing a unidirectional correlation in which the isolates with the same ST belong to the same serogroup. In summary, this scheme combines the best loci from the most widely used MLST schemes for Leptospira spp. and supports worldwide strains classification. The Argentinian isolates exhibited congruence between allelic profile and serogroup, providing an alternative to serological methods. Published by Elsevier B.V.

  13. The worldwide market will not be short of LPG fuels

    International Nuclear Information System (INIS)

    Anon.

    1998-01-01

    This paper is a synthesis of an internal note of the French Butane and Propane Committee (CFBP) about the perspectives of the worldwide market of LPG fuels. The conclusion of this study is that the market will not be short of LPG, in particular the French market and the automotive fuels. The consumption of LPG fuels for vehicles in France is growing up rapidly (about 100% in 1997 with respect to 1996: 90000 t consumed in 1997 by 70000 vehicles) and the resource remains important and can reach 3 millions of tons per year. (J.S.)

  14. Data deposition and annotation at the worldwide protein data bank.

    Science.gov (United States)

    Dutta, Shuchismita; Burkhardt, Kyle; Young, Jasmine; Swaminathan, Ganesh J; Matsuura, Takanori; Henrick, Kim; Nakamura, Haruki; Berman, Helen M

    2009-05-01

    The Protein Data Bank (PDB) is the repository for three-dimensional structures of biological macromolecules, determined by experimental methods. The data in the archive is free and easily available via the Internet from any of the worldwide centers managing this global archive. These data are used by scientists, researchers, bioinformatics specialists, educators, students, and general audiences to understand biological phenomenon at a molecular level. Analysis of this structural data also inspires and facilitates new discoveries in science. This chapter describes the tools and methods currently used for deposition, processing, and release of data in the PDB. References to future enhancements are also included.

  15. Interoperation of World-Wide Production e-Science Infrastructures

    CERN Document Server

    Riedel, M; Soddemann, T; Field, L; Navarro, JP; Casey, J; Litmaath, M; Baud, J; Koblitz, B; Catlett, C; Skow, D; Wang, S; Saeki, Y; Sato, H; Matsuoka, S; Geddes, N

    Many production Grid and e-Science infrastructures have begun to offer services to end-users during the past several years with an increasing number of scientific applications that require access to a wide variety of resources and services in multiple Grids. Therefore, the Grid Interoperation Now—Community Group of the Open Grid Forum—organizes and manages interoperation efforts among those production Grid infrastructures to reach the goal of a world-wide Grid vision on a technical level in the near future. This contribution highlights fundamental approaches of the group and discusses open standards in the context of production e-Science infrastructures.

  16. SUSTAINABILITY REPORTING – AN ANALYSIS OF THE WORLDWIDE DIFFUSION

    Directory of Open Access Journals (Sweden)

    Radu-Dan TURCU

    2015-04-01

    Full Text Available The increasing importance of sustainability issues expressed by different types of stakeholders has placed them among the leading topics inside the accounting literature. The paper aims to extend the current knowledge through the analysis of the relation between the number of sustainability reports issued by companies inside one country and its social, environmental and economic performances from a worldwide perspective, with a particular focus on the European Union. Our results indicate a positive correlation between the analyzed variables, denoting a higher involvement of companies from more developed countries for the improvement of sustainability reporting concept and practice.

  17. Status of research reactor spent fuel world-wide

    International Nuclear Information System (INIS)

    Ritchie, I.G.

    2004-01-01

    Results compiled in the research reactor spent fuel database are used to assess the status of research reactor spent fuel world-wide. Fuel assemblies, their types, enrichment, origin of enrichment and geological distribution among the industrialised and developed countries of the world are discussed. Fuel management practices in wet and dry storage facilities and the concerns of reactor operators about long-term storage of their spent fuel are presented and some of the activities carried out by the International Atomic Energy Agency to address the issues associated with research reactor spent fuel are outlined. (author)

  18. Mapping world-wide science at the paper level.

    Energy Technology Data Exchange (ETDEWEB)

    Klavans, Richard (SciTech Strategies, Inc., Berwyn, PA); Boyack, Kevin W.

    2005-01-01

    This article describes recent improvements in mapping a highly representative set of the world-wide scientific literature. The process described in this article extends existing work in this area in three major ways. First, we argue that a separate structural analysis of current literature vs. reference literature is required for R&D planning. Second, visualization software is used to improve coverage of the literature while maintaining structural integrity. Third, quantitative techniques for measuring the structural integrity of a map are introduced. Maps with high structural integrity, covering far more of the available literature, are presented.

  19. Computer data exchanges spur need for worldwide well numbering standard

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that the American Association of Petroleum Geologists database standards subcommittee has voted to pursue development of a worldwide well numbering standard. Aim of such a standard would be to facilitate the exchange of well data between operators, service companies, and governments. The need for such a standard is heightened by the explosive growth of electronic data interchange (EDI), which uses industry standards to exchange data computer to computer. The subcommittee has reviewed various well numbering methods, identified advantages and disadvantages of each approach for publication to obtain industrywide comments

  20. Worldwide status of energy standards for buildings: Appendices

    Energy Technology Data Exchange (ETDEWEB)

    Janda, K.B.; Busch, J.F.

    1993-02-01

    This informal survey was designed to gain information about the worldwide status of energy efficiency standards for buildings, particularly non-residential buildings such as offices, schools, and hotels. The project has three goals: 1. To understand and learn from the experience of countries with existing building energy standards; 2. To locate areas where these lessons might be applied and energy standards might be effectively proposed and developed; and 3. To share the information gathered with all participating countries. These appendices include the survey cover letter, the survey, and the details of selected energy standards in 35 countries, thus providing supporting material for the authors` article of the same title.