PEOPLE: International Journal of Social Sciences
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DYNAMIC INTERRELATION BETWEEN STOCK MARKET INDEX, EXCHANGE RATE, T-BILLS AND POLICY RATE: THE CASE OF EGYPT 2010-2020
Get PDFA robust securities market is the engine of a country's economy. Undoubtedly, the stability and strength of a country's financial intermediaries and secondary market systems determine its overall economic growth. Since 2009, when the secondary market and Egypt’s EGX 30 stock index were established, the Egyptian economy has been on a trajectory of growth. However, Egypt's economy has been facing various economic and financial challenges in recent years because of political instability and social unrest, starting with the 2011 political revolution and the global external shocks such as the Corona pandemic, which negatively impacted its foreign capital inflows from the hard currency. Which made it essential and critical to ask for financial assistance from international institutions and the global financial market to maintain the country's economic wellbeing. That was linked to economic structural reform-backed loan programs and agreements with the IMF and the World Bank. Since then, it is assumed that Egypt’s economy is moving towards more cointegration with the global economy, especially after the IMF-backed loan program and the economic reforms that took place since the end of 2016 with the currency flotation regime in November 2016. Since then, Egypt’s economic stance, stock market, and foreign exchange rate turned out to be more reflective and vulnerable to the external shocks that are taking place. And with the association of the IMF loan program, the financial capital market via foreign capital inflows in the foreign portfolio investments, has played a main role in influencing the currency performance through Egypt’s equity and debt markets, which are directly and indirectly influenced by Egypt’s Central Bank monetary policy decisions. This paper helps to understand the stock, foreign exchange markets in Egypt and the impact of the government’s monetary policy on the financial market. It aims at identifying the determinants of both markets, investigates the relationship between macroeconomic variables on Egypt’s EGX30 all-share stock index and Egypt’s FX rate. The macroeconomic interrelations are examined including Egypt’s lending interest rate and the 91-day Treasury bill (T-bill) rate. By applying the cointegration model and the VECM model to test the short-run and long-run relationships between the noted variables. The findings indicated a long-run relationship between Egypt's stock market index, lending rates, and T-bills over the period from 2010 until 2016, before the currency flotation regime
THE IMPACT OF RISK MANAGEMENT ON THE PERFORMANCE OF CONSTRUCTION PROJECTS
Get PDFThis study delves into the integral role of risk management in optimizing the efficiency of construction project implementation by identifying and categorizing potential risks while emphasizing proactive risk management strategies. The research underscores the vulnerability of construction projects to diverse risks and highlights the prevailing issue of insufficient emphasis on risk management practices in the field. Notably, the findings indicate a substantial correlation between early risk identification and heightened project efficiency, showcasing that project employing proactive strategies experience fewer disruptions and greater adaptability to unforeseen challenges. Furthermore, construction projects implementing robust risk management practices demonstrate noteworthy reductions in delays and cost overruns, contributing to streamlined timelines and adherence to budget constraints. The study recommends prioritizing the adoption of proactive risk management practices, focusing on early identification and mitigation, and advocates for investment in training programs to enhance stakeholders' risk management knowledge and skills. Additionally, it suggests leveraging technological solutions, such as predictive analytics and simulation models, for more accurate and dynamic risk assessments, facilitating informed decision-making in construction project management.
The comparative analysis of risk management approaches empowers informed and appropriate decision-making. This reduces the disruption of and enhances financial outcomes. These findings signify a paradigm shift in project management in construction, advocating for a culture of effective and proactive risk management. It can revolutionize industry practices, increase predictability, and elevate the project's success. Implementing recommended strategies, inculcating adaptability cultivation, clear communication, and theoretical framework, and embracing complexity promises to enhance risk management effectively, guiding the instruction industry toward continuous improvement and innovation
HARMONIZING ECONOMIC GROWTH AND ENVIRONMENTAL PRESERVATION: DECOUPLING POLLUTION FROM PROSPERITY
Get PDFEnvironmental pollution and climate change effects being experienced by present global populations can be attributed to economic growth. With the increase in industrialization, the generation of waste without proper treatment and disposal has resulted in polluted air that risks the health of the population. It has also resulted in increased global earth temperatures, which have in turn affected the agricultural productivity of the earth, a primary source of livelihood for human populations. Despite these great consequences, there can be a harmonious existence of economic growth and reduced environmental pollution through decoupling. Government efforts are critical in the implementation of decoupling efforts, with their commitments expressed through policies and legislation
THE USE OF SOCIO-ECONOMIC ASPECTS AS A TOOL AFFECTING THE SECURITY AND STABILITY OF SOCIETY
Get PDFSocio-economic aspects are nowadays one of the most important factors for the safety and stability of society. According to them, the possibility of the emergence of pathogenic anomalies threatening the stability of society can be predicted. Based on this fact, it is possible to implement preliminary measures to prevent the occurrence of extraordinary events well in time´s advance. The given theory can be demonstrated on the models of E.W. Burgess concentric zonal structure of the city and on Harris & Ullman multi-core model of the city. Thanks to knowledge from sociology and safety engineering we can to present, how the security and stability of society in a given location can be moved to a higher level, if we know very wel socio-economic aspects of society
THE OBSTRUCTION OF SEA POWER, THE RECOVER OF LAND POWER AND THE POSSIBILITY OF “INTERCONNECT POWER”
Get PDFMaritime versus land transportation, or the race between sea power and land power, is a topic that political scientists have been passionately discussing for centuries. In recent decades, sea power has undoubtedly prevailed. However, With the changes in the international political and economic situation and the frequent occurrence of wars and accidents (for example, the conflict in the Bab-el-Mandeb Strait and the backlog of goods in ports due to the epidemic), maritime transportation has been restricted at the present time. Coupled with the development and application of new technologies (examples include distributed photovoltaics, high-speed rail, ultra-high-voltage transmission technology and thorium-based nuclear power plants) and the rise of new economies, the rise of land power has become a new trend. In other words, “circulating power”, which combines sea power and land power, provides a new development perspective for human society. The interconnectedness of the world will beyond the “national center” perspective, bring about the well-being of mankind, and convert the struggle for power into economic cooperation and prosperity
THE DECAY OF THE RUSSIA-EU ENERGY DIALOGUE MECHANISM FROM A ROLE PERSPECTIVE
Get PDFThe energy issue is at the core of the interaction between Russia and Europe. This paper, based on the perspective of role theory, systematically reviews the evolution of the Russia-Europe energy dialogue mechanism in the post-Cold War era. It combines role positioning and role expectations as two core variables to analyze the influencing factors of the Russia-Europe energy dialogue mechanism. Therefore, six influencing factors are summarized, including political culture, energy strategy, and energy groups related to role positioning, as well as historical traditions, international crises, and energy revolutions related to role expectations. The paper argues that the evolution of the Russia-Europe energy dialogue mechanism exhibits three characteristics: firstly, consistency with Russia-Europe relations; secondly, idealism in role expectations formed due to political cultural differences; and thirdly, the constraining nature of the asymmetrical structure on energy cooperation. Consequently, the Russia-Europe energy dialogue mechanism is in a state of stagnation, and Russia-Europe energy cooperation is showing a fragmented trend
ANALYSIS OF SETAGAYA WARD'S SYSTEM OF DEVELOPING VACANT HOUSES INTO BASES THAT ARE USEFUL TO THE COMMUNITY
Get PDFSetagaya Ward established a consultation service in July 2013 to develop vacant houses into useful bases for the community. This service matches owners of vacant houses with non-profit organizations and produced 22 bases in 10 years. Through analysis of the bases, it became clear that the majority of the bases were using vacant rooms rather than the entire house. Many bases that contribute to social welfare, such as child and disability welfare, have been created. This service can deal with cases that are difficult for private real estate companies to handle. It shows the significance for local governments to operate vacant house utilization systems
REVENUE GUARANTEES IN PUBLIC PRIVATE PARTNERSHIPS
Get PDFHistorically, governments have been responsible for financing, construction and maintenance of infrastructure projects in such sectors as energy, transport, education and health. During last decades, public finance has been inadequate to deliver infrastructure services in terms of construction and renovation. For this reason, the private sector has played an important role to finance greenfield (new) and brownfield (existing) projects in the form of Public Private Partnerships (PPPs). Infrastructure investment includes certain risks such as financing, construction, operation and demand. The private sector can control first three risks better than demand risk. The estimation of future demand risk is uneasy in countries with volatile GDP, inflation, currency or users’ willingness to pay tolls. Further, depending on optimism bias or misrepresentation, planners may overestimate the future demand. Since transport traffics have been lower than projected tolls, the private sector may become reluctant to undertake the toll revenue risk and willing to transfer this risk to the government. Minimum revenue guarantees (MRG) is one method to transfer revenue risk to the government among others. Turkish Government has preferred the MRG in the transport projects. Under MNR scheme, the government reimburses the private partner when actual toll falls short of the projected revenue over operating period. On the other hand, motorway PPP projects are divided to several parts by the Turkish Government. Once the private partner completes one part earlier in the construction period, the Turkish government takes that part into operation and MNR commences for this part. Thus, the private partner acquires extra MNR during the construction period in addition to the operating term. Consequently, front loaded MNR is used as cross-subsidy to finance other parts’ construction cost of the related project
BASIC ANXIETY IN JANE AUSTEN’S PRIDE AND PREJUDICE AND EMMA: Received: 11th April 2024 Revised: 2nd May 2024, 28th May 2024, 29th May 2024, 31st May 2024 Accepted: 11th April 2024
No full textThis paper delves into the inner conflict of Elizabeth Bennet and Emma, the heroines of Jane Austen’s Prejudice and Prejudice and Emma. The study uses Karen Horney’s psychoanalytic social theory of basic anxiety that emphasizes the influence of childhood experiences and the impact of socialization on an individual’s psychological development. It examines certain instances in the heroines’ early experiences that shape their adult identity and self-knowledge. The analysis reveals that those heroines are highly influenced by their parents or chaperones, who themselves may suffer from neurotic struggles that hinder their ability to properly provide care and support for their children. Therefore, an analysis of those parents and chaperones is provided to see to what extent their psychological conflicts preoccupy their behavior towards the heroines
CENTRAL STATE VS REGIONAL AUTONOMY - POLITICAL ELITE’S ACTION STRATEGY
Get PDFThe role of the autonomous institutions is significant in the elaboration of the specific strategies conducive for the political elite of either regional autonomy or central state to achieve their territorial, political and economic goals. Functional autonomous institutions enable the political elite to mobilize its ethnic group and radicalize demands. Rational assessment of the geographic location, instrumentalization of primordial markers (focus on historical memory) and constructivist ascriptions along with structural situation in and out of both, the autonomy and central state defines contemplated ethnic politics with far-going consequences of the both, central state and autonomy. Autonomy’s political elite activates primordial ascriptions, as well as, constructionist attitudes, considers geographic location to mobilize ethnic followers, press claims for secession and influence central authority to upgrade autonomous status through negotiations or violent confrontation. The Central state political elite’s decision about action strategy selection depends on the structure of situation inside and outside of the country. While operationalizing selected strategy central administration applies primordial and constructivist approaches to impact local authority’s decision- making process. Two autonomous republics of the Russian Federation, Tatarstan and Chechnya, are explored in the first decade after collapse of the Soviet Union to test theoretically identified factors impacting formation of ethnic politics and action strategies in the central state and autonomy. The methods’ triangulation (process-tracing method, discourse analysis of the official document and public speeches and semi-structured interviewing) was utilized to validate the research findings. On its way to upgrade autonomous status, Tatarstan built civic nationalism guaranteeing peaceful coexistence of the ethnic groups. Chechnya’s oppressive historic experience intensified rigid ethnic politics leading to protracted ethnic confrontation