176 research outputs found
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The past, today and future of incoterms in international delivery: A review on the innovations in logistics
Full text linkAbstract. Incoterms; are the rules regulating the distribution of responsibilities and costs between the parties at the stages of transportation and delivery of goods, regulated by the International Chamber of Commerce. Incoterms items are expressed with abbreviations consisting of English definitions' initials. They provide a common language so that every company in a global world apprehends the same way of actions in distribution and transportation. Eventually, the firms deliver their products as expected. Incoterms mentions the changes in the abbreviations as well as the transactions. International commercial terms (Incoterms) have played an essential role in implementing global trade since 1936. As the international commercial terms are updated every ten years, the companies are more likely to be affected by the innovations made in Incoterms. In the first part of this study, Incoterms are evaluated according to how it is changed from past to present in terms of quality and quantity. In the second part, the study continues with the evaluation of delivery terms and it is questioned if the changes in the logistics have a source effect on international trade. At the end of the study, implications are given on how changes in logistics can shape the future of international commercial terms.Keywords: International logistics, International commercial terms (Incoterms), Delivery terms, International trade.JEL. F02, F13, R42
Cost overruns in infrastructure projects: Evidence and implications
Full text linkIn recent years, there has been a sharp growth in both the magnitude and frequency of major infrastructure investments worldwide. Despite this boom in infrastructure spending, major projects continue to systematically underperform, as demonstrated in numerous empirical studies. In this paper, the author will discuss the factors underlying this growth in public spending, evaluate the empirical evidence on project cost overruns, and discuss the broader macroeconomic implications of this phenomenon.Keywords. Macroeconomic implications, Major infrastructure investments, Growth.JEL. H73, J42, J61, J62, J68, F22, F42
Opening of alcoholic drink establishments during the Coronavirus period in Cameroon: scope and economic consequences
Full text linkAbstract. The objective of this article is to evaluate the impacts of alcoholic products on the Cameroonian economy following the government decision on opening alcoholic drink establishments during the period of the highest expansion of coronavirus pandemic. This objective is achieved through a dynamic CGE analysis. The main data come from a social accounting matrix for 2016 calibrated on the Cameroonian economy. As findings, a 50% increase of total alcoholic consumption in 2020 increases the demand of that sector whether the final demand or the intermediate input. The government income may increase in 2020, 2021 and 2024 but may decrease in 2021 and 2022. It may impact positively the GDP in the medium term. Finally, the well-being may be positively impacted by the year 2024.Keywords. Alcoholic drink, Government policy, Public revenue, Well-being, CGE.JEL. C51, C68, E02, F31, F41
Dynamics of science under period of crisis and environmental threat
Full text linkAbstract. The purpose of this study here is to explain the dynamics and characteristics of research fields in the presence of crisis. This paper focuses on effects of global pandemic crisis of COVID-19 (Coronavirus Disease 2019) in science dynamics. Results suggest that crisis-driven research field is characterized by an unparalleled velocity of scientific production that supports scientific and technological advances, open access and document type with short notes and papers. Understanding the dynamics of science and its consequences during the crisis is of critical importance for planning and allocating resources toward positive societal impact.Keywords. Dynamics of science, Research field, COVID-19, Pandemic crisis, Environmental threats, Crisis management, Scientific advances, Technological change.JEL. F21, F68, O53, K23
Economic optimality of the exchange rate regime applied in Morocco
Full text linkAbstract. The main objective of this study is to analyze from an economic point of view the optimality of the exchange rate regime applied in Morocco, while basing on a macroeconomic analysis on the gradual flexibility of the Moroccan exchange rate regime and while presenting the conditions of success of the gradual flexibility based on the optimal widening of the band of fluctuation of the exchange rate to +/-5% that have been adopted by the domestic monetary authorities.Keywords. Band of fluctuation, optimality, exchange rate regime, gradual flexibility, Moroccan economy, monetary authorities.JEL. C51, C68, E02, F31, F41
Factors for inclusion of wastewater treatment sludgein agri-food chain in Bulgaria
Full text linkAbstract. The issue of utilization of sludge from wastewater treatment in agriculture is an important socio-economic and environmental problem in the European Union and Bulgaria. It is becoming topical issue along with the growing interests into effective “transformation of wastes into products” and their inclusion in supply chains and circular economy. Despite their relevance, in-depth studies of the diverse effects and critical factors of sludge utilization in Bulgarian agri-food chain are at an early stage. The purpose of this article is to identify and assess the significance of the various factors influencing the effective utilization of sludge from wastewater treatment in Bulgarian agriculture. Based on a qualitative analysis of regulations and institutional structure, and surveys with managers and experts of urban wastewater treatment plants, and farmers using and not-using sludge, the institutional, political, organizational, personal, educational, informational, social, economic, and environmental factors influencing the utilization of sludge in agriculture in two regions of the country (Sofia and Burgas) are identified. Impact factors are generally divided into two types: factors influencing the behavior of agents, and factors determining the type and extent of the effects of sludge use in agriculture. Research of this type is tocontinue and deepen to establish the economic, sectoral and regional specificities on the basis of more representative information from all participants and interested parties in the effective utilization of sludge in the country.Keywords. Sludge use, Agriculture, Factors, Efficiency, Bulgaria.JEL. Q12, Q13, Q15, Q18
The balance sheet of the exchange stabilization fund, 1934-2019
Full text linkAbstract. In this paper, the author explores the balance sheet of the Exchange Stabilization Fund (ESF) over its first 85 years as a lens though which to analyze the fund. An accompanying spreadsheet workbook provides data from the annual balance sheet of the ESF since the fund’s inception in 1934. These data are available in electronic form for the first time, which will be of interest to those wishing to do quantitative analyses of its role in U.S. monetary policy.Keywords. Exchange Stabilization Fund (ESF), Balance sheet, Assets, Liabilities, Gold, Foreign exchange intervention.JEL. E52, E59, N12
Interest-free window banking and finance in Ethiopia: Inception to expansion
Full text linkAbctract. Interest-Free Banking and Finance services are continuously growing throughout the world in terms of customer size and the number of countries introducing the services. Entitled differently in different corners of the globe, numerous models have been implemented. Full-Fledged Banking, Subsidiary Banking, and Window Banking models are the eminent types. One of the countries, where an only Window Model has been practiced, is Ethiopia. In the last decade, the banking regulation of the country has legitimatized the operations of only Window Models. Consequently, within 6 years (2013-2019), 10 conventional banks have rapidly introduced Window-Based IFB services. Most of these windows became very weak in financing but they could attract billions of Ethiopian Birr (ETB) within a short period. As a result, the Window-Based IFB sector of the country became exceedingly characterized by cost-free deposit accumulation under the cover of a manipulated term of Interest-Free Banking. However, the parliament has approved a regulation which permits the establishment of Full-Fledged IFB in 2019. Consequently, some banks are under formation. The aim of this study is, therefore, to assess the expansion of the Window Model and the performance of the banks in deposit accumulation and financing trade and investment. A descriptive analysis is used based on mainly the reports of the banks.Keywords. IFB, Window model, Ethiopia.JEL. G21, G28, G29