Abstract: This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.
Abstract: In a liberalized electricity market, it is not surprising
that different customers require different power quality (PQ) levels at
different price. Power quality related to several power disturbances is
described by many parameters, so how to define a comprehensive
hierarchy evaluation system of power quality (PQCHES) has become
a concerned issue. In this paper, based on four electromagnetic
compatibility (EMC) levels, the numerical range of each power
disturbance is divided into five grades (Grade I –Grade V), and the
“barrel principle" of power quality is used for the assessment of
overall PQ performance with only one grade indicator. A case study
based on actual monitored data of PQ shows that the site PQ grade
indicates the electromagnetic environment level and also expresses the
characteristics of loads served by the site.
The shortest plank principle of PQ barrel is an incentive
mechanism, which can combine with the rewards/penalty mechanism
(RPM) of consumed energy “on quality demand", to stimulate utilities
to improve the overall PQ level and also stimulate end-user more
“smart" under the infrastructure of future SmartGrid..
Abstract: Boon Rawd Brewery is a beer company based in
Thailand that has an exemplary image, both as a good employer and a
well-managed company with a strong record of social responsibility.
The most famous of the company’s products is Singha beer. To study
the company’s marketing strategy, a case study analysis was
conducted together with qualitative research methods. The study
analyzed the marketing strategy of Boon Rawd Brewery before the
liberalization of the liquor market in 2000. The company’s marketing
strategies consisted of the following: product line strategy, product
development strategy, block channel strategy, media strategy, trade
strategy, and consumer incentive strategy. Additionally, the company
employed marketing mix strategy based on the 4Ps: product, price,
promotion and place (of distribution).
Abstract: The study was a case study analysis about Thai Asia
Pacific Brewery Company. The purpose was to analyze the
company’s marketing objective, marketing strategy at company level,
and marketing mix before liquor liberalization in 2000. Methods used
in this study were qualitative and descriptive research approach
which demonstrated the following results of the study demonstrated
as follows: (1) Marketing objective was to increase market share of
Heineken and Amtel, (2) the company’s marketing strategies were
brand building strategy and distribution strategy. Additionally, the
company also conducted marketing mix strategy as follows. Product
strategy: The company added more beer brands namely Amstel and
Tiger to provide additional choice to consumers, product and
marketing research, and product development. Price strategy: the
company had taken the following into consideration: cost,
competitor, market, economic situation and tax. Promotion strategy:
the company conducted sales promotion and advertising. Distribution
strategy: the company extended channels its channels of distribution
into food shops, pubs and various entertainment places. This strategy
benefited interested persons and people who were engaged in the beer
business.
Abstract: In Algeria, liberalization reforms undertaken since the 1990s have resulted in negative effects on the development and management of irrigation schemes, as well as on the conditions of farmers. Reforms have been undertaken to improve the performance of irrigation schemes, such as the national plan of agricultural development (PNDA) in 2000 and the water pricing policy of 2005. However, after implementation of these policies, questions have arisen with regard to irrigation performance and its suitability for agricultural development. Hence, the aim of this paper is to provide insight into the profitability of irrigation during the transition period under current irrigation agricultural policies in Algeria. By using the method of farm crop budget analysis in the East Mitidja irrigation scheme, the returns from using surface water resources based on farm typology were found to vary among crops and farmers- groups within the scheme. Irrigation under the current situation is profitable for all farmers, including both those who benefit from subsidies and those who do not. However, the returns to water were found to be very sensitive to crop price fluctuations, particularly for non-subsidized groups and less so for those whose farming is based on orchards. Moreover, the socio-economic environment of the farmers contributed to less significant impacts of the PNDA policy. In fact, the limiting factor is not only the water, but also the lack of land ownership title. Market access constraints led to less agricultural investment and therefore to low intensification and low water productivity. It is financially feasible to recover the annual O&M costs in the irrigation scheme. By comparing the irrigation water price, returns to water, and O&M costs of water delivery, it is clear that irrigation can be profitable in the future. However, water productivity must be improved by enhancing farmers- income through farming investment, improving assets access, and the allocation of activities and crops which bring high returns to water; this could allow the farmers to pay more for water and allow cost recovery for water systems.
Abstract: A preliminary evaluation of the urban land system is
presented in the article together with the instruments of land policy in
Serbia. The main reason for the analysis is demand for
definition of reform framework for urban land management in
Serbia in the period of transition towards market-led system. It
is concluded that due to the limitations of the current regulation it
will be impossible in the future to apply market principles in the
urban land policy (supply and demand of land, land capitalization,
investment efficiency, et al.). Based on the estimation that the urban
land system and land policy are key factors of competitiveness
between regions and towns in Serbia, it is necessary to initiate
changes in this field. There are indicated on an option of privatization
of urban public land and possible establishment of leasehold land. A
comparative analysis of the possibilities of the reform urban land
system in Serbia has been carried out in relation to two approaches of
market systems: (a) with dominant private ownership of urban land
(neo/liberal approach) and (b) with dominant public ownership of
urban land (system of leasehold)whose findings can be a basis for
further study of the new system in Serbia.. The attanied results are
part of studies matter for the making of Strategy of territorial
development of Serbia.
Abstract: Increasing concerns over climate change have limited
the liberal usage of available energy technology options. India faces
a formidable challenge to meet its energy needs and provide adequate
energy of desired quality in various forms to users in sustainable
manner at reasonable costs. In this paper, work carried out with an
objective to study the role of various energy technology options
under different scenarios namely base line scenario, high nuclear
scenario, high renewable scenario, low growth and high growth rate
scenario. The study has been carried out using Model for Energy
Supply Strategy Alternatives and their General Environmental
Impacts (MESSAGE) model which evaluates the alternative energy
supply strategies with user defined constraints on fuel availability,
environmental regulations etc. The projected electricity demand, at
the end of study period i.e. 2035 is 500490 MWYr. The model
predicted the share of the demand by Thermal: 428170 MWYr,
Hydro: 40320 MWYr, Nuclear: 14000 MWYr, Wind: 18000 MWYr
in the base line scenario. Coal remains the dominant fuel for
production of electricity during the study period. However, the
import dependency of coal increased during the study period. In
baseline scenario the cumulative carbon dioxide emissions upto 2035
are about 11,000 million tones of CO2. In the scenario of high nuclear
capacity the carbon dioxide emissions reduced by 10 % when nuclear
energy share increased to 9 % compared to 3 % in baseline scenario.
Similarly aggressive use of renewables reduces 4 % of carbon
dioxide emissions.
Abstract: This paper is to explore the relationship and the level
of stock market integration of the Asian countries, primarily
concentrating on Malaysia, Thailand, Indonesia, and South Korea,
with the world from January 1997 to December 2009. The degree of
short-run and long-run stock market integration of those Asian
countries are analyzed in order to determine the significance of series
of regional and world financial crises, liberalization policies and
other financial reforms in influencing the level of stock market
integration. To test for cointegration, this paper applies coefficient
correlation, univariate regression analyses, cointegration tests, and
vector autoregressive models (VAR) by using the four Asian stock
markets main indices and the MSCI World index. The empirical
findings from this work reveal that there is no long-run stock market
integration for the four countries and the world market. However,
there is short run integration.
Abstract: To strengthen the capital market, there is a need to
integrate the capital markets within the region by removing legal or informal restriction, specifically, stock market liberalization. Thus the paper is to investigate the effects of the subsequent stock market liberalization on stock market integration in 4 ASEAN countries (Malaysia, Indonesia, Thailand, Singapore) and Korea from 1997 to 2007. The correlation between stock market liberalization and stock
market integration are to be examined by analyzing the stock prices
and returns within the region and in comparison with the world
MSCI index. Event study method is to be used with windows of ±12
months and T-7 + T. The results show that the subsequent stock
market liberalization generally, gives minor positive effects to stock
returns, except for one or two countries. The subsequent
liberalization also integrates the markets short-run and long-run.
Abstract: In policy discourse of 1990s, more inclusive spaces
have been constructed for realizing full and meaningful participation
of common people in education. These participatory spaces provide
an alternative possibility for universalizing elementary education
against the backdrop of a history of entrenched forms of social and
economical exclusion; inequitable education provisions; and
shrinking role of the state in today-s neo-liberal times. Drawing on
case-studies of bottom-up approaches to school governance, the study
examines an array of innovative ways through which poor people
gained a sense of identity and agency by evolving indigenous
solutions to issues regarding schooling of their children. In the
process, state-s institutions and practices became more accountable
and responsive to educational concerns of the marginalized people.
The deliberative participation emerged as an active way of
experiencing deeper forms of empowerment and democracy than its
passive realization as mere bearers of citizen rights.
Abstract: In parallel, broadcasting has changed rapidly with the
changing of the world at the same area. Broadcasting is also
influenced and reshaped in terms of the emergence of new
communication technologies. These developments have resulted a lot
of economic and social consequences. The most important
consequences of these results are those of the powers of the
governments to control over the means of communication and control
mechanisms related to the descriptions of the new issues. For this
purpose, autonomous and independent regulatory bodies have been
established by the state. One of these regulatory bodies is the Radio
and Television Supreme Council, which to be established in 1994,
with the Code no 3984. Today’s Radio and Television Supreme
Council which is responsible for the regulation of the radio and
television broadcasts all across Turkey has an important and effective
position as autonomous and independent regulatory body. The Radio
and Television Supreme Council acts as being a remarkable organizer
for a sensitive area of radio and television broadcasting on one hand,
and the area of democratic, liberal and keep in mind the concept of
the public interest by putting certain principles for the functioning of
the Board control, in the context of media policy as one of the central
organs, on the other hand.
In this study, the role of the Radio and Television Supreme
Council is examined in accordance with the Code no 3894 in order to
control over the communication and control mechanisms as well as
the examination of the changes in the duties of the Code No. 6112,
dated 2011.
Abstract: The liberalization and privatization processes have
forced public utility companies to face new competitive challenges,
implementing strategies to gain market share and, at the same time,
keep the old customers. To this end, many companies have carried
out mergers, acquisitions and conglomerations in order to diversify
their business. This paper focuses on companies operating in the free
energy market in Italy. In the last decade, this sector has undergone
profound changes that have radically changed the competitive
scenario and have led companies to implement diversification
strategies of the business. Our work aims to evaluate the economic
and financial performances obtained by energy companies, following
the beginning of the liberalization process, verifying the possible
relationship with the implemented diversification strategies.