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Journal articles on the topic 'Infrastructure financing gap'
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Abdurraheem, Abdulazeez, and Asmadi Mohamed Naim. "Sub-Sahara Africa’s Infrastructure Funding Gap: Potentials from Sukuk Financing." Indian-Pacific Journal of Accounting and Finance 2, no. 4 (October 1, 2018): 26–34. http://dx.doi.org/10.52962/ipjaf.2018.2.4.53.
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Sub-Sahara African (SSA) region as a large part of the African continent suffers huge infrastructure deficit mainly as a result of the vast funding gap. The negative impact of the infrastructure deficiency continues to constrain socio-economic development and the general well-being of the people of the region. Heavy reliance on the traditional sources of funding by many of the countries in the region has failed to meet ever-growing demands for infrastructural development of the region. Potentials presented by Islamic finance are yet to be exploited by a large number of countries in the region. This study evaluates the depth of utilisation of Islamic capital market using Sukuk instruments as another source of funding to fill the observed funding gap for infrastructure development. This study finds that the use of Sukuk as a long-term financing instrument is still at its infancy stage in the region. The paper, therefore, suggests that the SSA countries can undertake rapid and massive infrastructure developments in the region through the use of Sukuk instruments, thereby eliminating increasing sovereign debt over-hang from the conventional debt market. This study also recommends that policy makers in the region put in place required laws and regulations that will provide enabling environments for effective utilisation of Sukuk instruments for infrastructural development. Similarly, strong political will on the part of the region’s political leaders is essential in nurturing strong institutions that can engender policy continuity to ensure effective and efficient management of infrastructure projects funded by Sukuk instruments.
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Ifeanyi Onuka, Onwuka,, and Nwafor, Michael. "Tackling Infrastructural Gap in Nigeria: The Pension Fund Option." Applied Economics and Finance 5, no. 2 (January 25, 2018): 73. http://dx.doi.org/10.11114/aef.v5i2.2952.
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The paper reviewed the prospect of using the hugely untapped pension funds to bridge infrastructural financing gap in Nigeria. Infrastructure financing is estimated to cost Nigeria a total investment of USD2.9 trillion over the next 30 years to bring it to the level that can be competitive and self-sustaining. This huge investment outlay is clearly beyond the yearly fiscal operations of government. However, there is a glimmer of hope by way of pension funds, which as at August, 2016, is in excess of N5.9 trillion. This phenomenal growth in pension funds presents a rare opportunity to bridge the nation’s current infrastructure gap by leveraging part of the huge pension assets for developmental purposes. The authors argued that there is need to review the regulatory and institutional framework in pension funds administration to make way for a creative use of some of the pension funds to fund infrastructure – creating a veritable profitable investment outlay for the pension funds contributors and at the same time providing the needed funding for critical infrastructure financing in the country.
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Agrawal, Reena. "Review of Infrastructure Development and Its Financing in India." Paradigm 24, no. 1 (April 16, 2020): 109–26. http://dx.doi.org/10.1177/0971890720914096.
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Infrastructure is one of the most crucial pillars of productivity in any economy. Pushing infrastructure development and particularly organizing funds for infrastructure projects have been the biggest challenge in developing nations. The present study was taken up to review the infrastructure development and its financing in India. The study intended to (1) study the infrastructure development in India in the 11th and 12th Five Year Plan, (2) examine the sources used for infrastructure financing in India, (3) assess the actions taken by government to facilitate infrastructure financing and (4) propose measures to augment infrastructure financing to overcome infrastructure deficit in the country. It was found that though Government of India and Reserve Bank of India have taken several initiatives to facilitate infrastructure financing, there still exists a vast gap between supply side and the demand side. Some of the recommendations given in the paper include the need to evolve innovative business models and mitigate administrative glitches to ensure larger private participation; exploit the untapped potential of diaspora; revisit the statutory liquidity ratio norms for banks; evolve the municipal bond market; boost regional integration and improved connectivity through creation of corridors between sub-continental regions, which would not only bridge the finance gap but also the knowledge gap, etc.
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Gauba, Rajiv. "Improving Urban Infrastructure." Indian Journal of Public Administration 63, no. 2 (June 2017): 165–75. http://dx.doi.org/10.1177/0019556117699734.
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The investment needs in basic infrastructure that determine the pace of development of cities are considerably higher than the quantum of flow of funds. The key indicators of the major urban services reveal that there is a failure to achieve even moderate success in service delivery. The components of the traditional approach to financing urban services have been grants and loans from government-owned financial institutions on basis of guarantees. The urban local bodies (ULBs) in India are weak in terms of capacity to raise both resources and financial autonomy. Given the major risks involved, private sector has also largely stayed away from urban infrastructure projects, until very recently. These have resulted in huge gap between the demand and supply of urban basic services. The present government has launched several Missions to promote urban development in the country through strict adherence to reforms to strengthen financial and governance capacities of ULBs and participating in competition at state and city levels to qualify for accessing resources apart from other grants-based missions. In this context, the article discusses the investment requirements, progress of programmatic interventions for urban development in India and their financing mechanism. The article focuses on recently completed Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and the newly launched National Urban Mission programmes.
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Casullo, Lorenzo. "Rail Funding and Financing." Review of Network Economics 16, no. 2 (June 26, 2017): 125–41. http://dx.doi.org/10.1515/rne-2017-0038.
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Abstract Funding and financing arrangements for railway infrastructure in Europe are often perceived as complex and opaque. Given the large sums of public money involved, greater transparency on inputs and outputs is required. This paper aims to present an overview of rail infrastructure funding and financing in Europe based on recent evidence, and draws comparisons with the systems in the US and Japan. We also discuss a number of policy options to address the funding gap and ensure that European railways improve their financial viability and remain strong pillars of sustainable mobility in the future.
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Kapesa, Tonderai, Gift Mugano, and Houdini Fourie. "Financing public infrastructure in Zimbabwe: Current trends and future alternatives." Public and Municipal Finance 10, no. 1 (September 3, 2021): 82–93. http://dx.doi.org/10.21511/pmf.10(1).2021.07.
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Zimbabwe requires USD2 billion annually until 2032 for financing economic infrastructure. However, the Government of Zimbabwe currently affords about 20% of this financing requirement leaving an 80% gap. The aim of the study was to establish the main sources of finance for economic public infrastructure and recommend alternative financing sources to supplement the current sources. The qualitative descriptive study collected primary data through 23 interviews conducted with officials from ministries of the Government of Zimbabwe, government departments and parastatal enterprises. Secondary data was obtained from documentary analysis. The study revealed bilateral loans from the China Exim Bank as the main source of finance for economic infrastructure, contributing USD2.1 billion whilst budget appropriations from the Government of Zimbabwe contributed USD1 billion during the 10-year period under study. Infrastructure finance was also obtained from development partners (USD200 million) and commercial and multilateral lenders (USD400 million). The study recommends developing a framework that promotes and protects private sector and/or innovative financiers of infrastructure through policy stability.
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Gonzalez-Ruiz, Juan David, Alejandro Arboleda, Sergio Botero, and Javier Rojo. "Investment valuation model for sustainable infrastructure systems." Engineering, Construction and Architectural Management 26, no. 5 (June 17, 2019): 850–84. http://dx.doi.org/10.1108/ecam-03-2018-0095.
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Purpose The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private partnerships (P3s) and project finance (PF). Additionally, this study proposes the financial captured value (FCV) theory for measuring how much financial value lenders may capture by becoming sponsors through financing of sustainable infrastructure systems (SIS). Design/methodology/approach The investment valuation model was validated through the Aguas Claras wastewater treatment plant as a case study. Findings The empirical results show that lenders may capture financial value by converting outstanding debt into equity shares throughout the operation and maintenance stage. Furthermore, case study results provide new insights into the implications of the debt–equity conversion ratio on the relationship between the sponsors’ internal rate of return and the FCV. Research limitations/implications The most significant limitation is the lack of primary and secondary information on blue bonds. Thus, robust statistical analyses to contrast results were not possible. Practical implications Researchers and practising professionals can improve their understanding of how mezzanine debt, P3s and PF into an investment valuation model allows financing SIS using a non-conventional financial mechanism. The recommendations will benefit both the academia as well infrastructure industry in bridging the gap between design theory and practice. Originality/value Sustainability components have not been addressed explicitly or combined in the financing’s structuring. Therefore, the investment valuation model could be considered a novel methodology for decision making related to financing and investment of SIS.
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Tao, Ping, Jia Chen Yan, and Yu Shi Lao. "Analysis on the Investment Scale and Structure of Ecological Infrastructure in Harbin." Advanced Materials Research 807-809 (September 2013): 308–11. http://dx.doi.org/10.4028/www.scientific.net/amr.807-809.308.
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In this paper, it analyzed the investment status of Harbin ecological infrastructure by the statistical data from the scale of investment, the total investment and trends, and investment structure. it pointed out that there are a lot of problems in Harbin ecological infrastructure projects, such as insufficient investment scale in environmental pollution governance, imperfect structure, low efficiency of the service; demand for infrastructure funding gap and a single financing channels ,etc.. Only it is necessary that the private capital would be incentives to invest into the ecological infrastructure project by establishing a good financial environment, the Mechanism of regulation and incentives, and formulating preferential policies to optimize the mode of financing and financing structure.
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Ehizuelen, Michael Mitchell Omoruyi. "China's Infrastructure Financing and the Role of Infrastructure in Awakening African Economies." Journal of Comparative Asian Development 18, no. 2 (July 2021): 1–25. http://dx.doi.org/10.4018/jcad.20210701.oa2.
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African economies, through Agenda 2063, recognize that developing infrastructure – transport, electricity, energy, water, and e-connectivity – will be critical for the region to assume a lasting place in the global economic system. As a result, this paper addresses the continent’s infrastructure gap and provides an important insight into the rapidly growing presence of China’s official infrastructure financing in Africa as well as the distinctive character of its involvement. In addition, the paper provides an empirical evaluation of the role of infrastructure in awakening African economies. The generalized-method-of-moments (GMM) estimator for dynamic models of panel data developed by Arellano and Bond (1991), and Arellano and Bover (1995) was employed to estimate an infrastructure-increased growth model.
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Shelepov, Andrei, and Inna Andronova. "BRICS National Development Banks: Potential for Narrowing the Infrastructure Financing Gap." International Organisations Research Journal 12, no. 4 (December 2017): 7–31. http://dx.doi.org/10.17323/1996-7845-2017-04-7.
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Mostafavi, Ali, Dulcy Abraham, and Joseph Sinfield. "Innovation in Infrastructure Project Finance: A Typology for Conceptualization." International Journal of Innovation Science 6, no. 3 (September 1, 2014): 127–44. http://dx.doi.org/10.1260/1757-2223.6.3.127.
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Due to the growing demand for civil infrastructure, financial innovations are required to close the financing gap. However, a lack of theories has inhibited a complete understanding and, thus, creation and diffusion of financial innovation. A lack of theory about financial innovations in infrastructure is mainly due to the absence of a framework to conceptualize these innovations. A typology that enables comparison of financial systems and, hence, provide a framework to conceptualize financial innovations is missing in the existing literature. This paper defines innovation in the context of financing, funding and delivery of infrastructure projects and proposes a new typology for conceptualization of the loci and types of financial innovations in infrastructure. The loci of innovations are in risk mitigation, regulation, cash flow, contract, organizational, and capital sub-systems. Types of innovations are classified as either integrated or modular and either sustaining or disruptive. The typology was tested by mapping seven innovations created by the U. S. Federal Highway Administration and diffused into 232 transportation projects between 1994 and 2002. Qualitative comparative analysis was then used to evaluate the diffusion trends of financial innovations in the case studies and to demonstrate the capability of the proposed typology for facilitating theory building in the area of infrastructure financial innovations.
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Fatile, Jacob Olufemi, I. S. Afegbua, and G. L. Ejalonibu. "New Global Financial Order and Promotion of Asian Infrastructural Investment Bank (AIIB): Opportunities and Challenges for Africa." Africa’s Public Service Delivery and Performance Review 4, no. 1 (March 1, 2016): 118. http://dx.doi.org/10.4102/apsdpr.v4i1.108.
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The main objective of this paper is to examine the effect of Asian Infrastructure Investment Bank (AIIB) on infrastructural development in developing countries with specific reference to Africa. The paper argues that availability of infrastructure has become one of the major problems in the process of economic development generally in the Global South. Given the need for hugecapital infrastructure in the region and thepresence of the financing gap in infrastructure financing, China initiated the establishment of the AIIB, therefore, heralding a new chapter in the international finance system. The study uses the “New Model Development Finance” lens to discuss Global Governance of Finance with a historical overview of GlobalFinancial Institutions such as the International Monetary Fund (IMF) and World Bank that have been in existence for close to seven decades. It identifies the majorchallenges which emerging economies have with existing international financial institutions as well as some opportunities and challenges for African countries. It observes that the establishment of AIIB is a major diplomatic victory for China and a foreign policy fiasco for the United States. It argues further that the new bank is a parallel project to the existing international financial institutions and may accidentally lead to a reform of the Bretton Woods system. The paper recommends among others that AIIB should find a way to work hand-in-hand with other existing Multilateral Development Banks (MDBs) since cooperation with such development agencies can engender positive image and goodwill for the new bank. It concludes that the establishment and development of AIIB need support from all over the world because AIIB is designed to provide financing methods for infrastructure in developing countries across the globe including African nations.
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Ciminello, Romeo. "The Importance of Infrastructures in the LDC’s Economic Sustainable Development." European Journal of Sustainable Development 8, no. 3 (October 1, 2019): 120. http://dx.doi.org/10.14207/ejsd.2019.v8n3p120.
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Infrastructures are crucial for sustainable growth and inclusive development of Less Developed Countries. The problem in hypothesis is the African infrastructure gap, that neither governments nor civil society organizations seems to want to face promoting investments in tangible programs that take into consideration such kinds of important elements aimed to an equal durable and sustainable improvement. The paper starts with a description of recent initiatives to scale up infrastructure investment in Africa. The methodology follows a scheme of hypothesis, observations experiences and data collection from ADB and others Institutions. This research tries to let understand what is the connection between development and infrastructures for human being. The paper then uses insights from the literature on informed versus arm’s length debt to discuss the structure of infrastructure financing. The economic growth and its goal, outlines the difference between structures and infrastructures. The main effort is how to give a weight to these latter in order to measure the empowerment of people that pass through their standard of living based on a system of strategic priorities centered on infrastructure package investments. Understanding the importance of infrastructures helps to satisfy needs and implement services that even if deemed not essential and substantial, are anyway most important to the growth of personal and social conditions. In this context the analysis is made on the difference between economic growth and development grounded on structure and infrastructure. The effort is to try to identify indicators able to evidence the contribution ratio of infrastructures to the development, how this can be measured and how they work in the different fields. The conclusion and implications are that to yield such potential global benefits, Africa’s industrialization would have to be underpinned by a robust infrastructure financing program. This requires a global finance pact among advanced and developing countries, a shift in strategic approaches, and new models of financing. Keywords: Africa, Infrastructure Finance, Economic growth, Development Banks, Integral development economy, Long-term Investors, Development indicators, Economy of Francesco, Lonergan’s new economic vision
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González-Ruiz, Juan, Sergio Botero-Botero, and Eduardo Duque-Grisales. "Financial Eco-Innovation as a Mechanism for Fostering the Development of Sustainable Infrastructure Systems." Sustainability 10, no. 12 (November 28, 2018): 4463. http://dx.doi.org/10.3390/su10124463.
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This paper aims to propose a financial framework based on mezzanine-type debt for financing Sustainable Infrastructure Systems (SIS). In our analysis, an exploratory-type methodology based on a post-positivist approach for describing the financial eco-innovation in the sustainable infrastructure context is used and consequently, the essential framework’s theory is developed, as well as the characteristics and schemes for its functioning. Moreover, the theoretical foundations of financial eco-innovations are analyzed. It was concluded that researchers could benefit from this framework by acquiring a better knowledge of how a mezzanine-debt type could work together sustainability criteria. This paper is expected to contribute to expanding the existing knowledge and expanding funding knowledge frontiers for SIS, as well as contributes to providing a foundation for new research topics. The originality of the proposed framework is intended to establish new ways in order to close the gap between the development of SIS and financing sources using the incorporation of sustainability criteria in the financing process. Thus, the importance of this work is based on the fact that it can be used as an academic support for producing practical solutions.
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Kibuuka, Paul, and David Fourie. "Effective regional infrastructure delivery in Africa: an analysis of the financial skills of the technical staff." Public and Municipal Finance 5, no. 1 (July 19, 2016): 18–28. http://dx.doi.org/10.21511/pmf.05(1).2016.03.
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During the last fifteen years, it has become apparent that capacity building is an important ingredient for sustainable development. In this regard, governments in Africa rank capacity building for infrastructure delivery amongst the top priorities for promoting sustainable development. A large share of Africa’s infrastructure is domestically financed, with the central government budget being the main driver of infrastructure investment. It is, therefore, important to strengthen the finance and technical capacity of public sector officials to effectively manage the preparation, structuring, implementation and operations and maintenance of infrastructure. In the quest to improve the infrastructure delivery capacity of public sector officials, this dip stick survey has assessed and highlighted gaps in terms of limited working knowledge of financial instruments, products and services such as viability gap finance and partial risk guarantees, as well as different financing models including fixed and floating interest rate borrowing from DFIs. All officials interviewed confirmed the importance of prioritizing finance training in the areas of selection, preparation and appraisal of investment projects
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Annamalai, Thillai Rajan, and Smitha Hari. "Innovative financial intermediation and long term capital pools for infrastructure." Journal of Financial Management of Property and Construction 21, no. 3 (November 7, 2016): 231–52. http://dx.doi.org/10.1108/jfmpc-07-2015-0024.
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Purpose Developing countries are increasingly looking to private sector investment for infrastructure development. Successful development of private infrastructure projects, however, depends on adequate availability of long-term debt to complement private sector equity. As domestic bond markets in many emerging countries are not very deep, availability of long-term debt funding for infrastructure has been limited. Recently, a new form of financial intermediation has emerged in India with the creation of infrastructure debt funds (IDFs) to create capital pools for long-term debt funding. This paper aims to analyse the effectiveness of IDFs for financing infrastructure projects. Design/methodology/approach This paper uses a case study approach. The case studies were written using both secondary and primary information. Secondary information was obtained from various sources such as policy papers, websites and other published sources. Primary information was obtained from interviews with the top management of three IDFs. Information obtained from multiple sources was triangulated for consistency and correctness. Findings IDFs have emerged as an effective intermediation mechanism for attracting long-term capital by offering a new investment product with appropriate risk-adjusted returns. For the fund seekers, IDFs are able to provide long-term capital at lower rates and higher flexibility. Unlike commercial banks, IDFs are able to add value to the projects apart from funding by periodic monitoring of the projects. Practical implications Creating new forms of financial intermediation can help in reducing the financing gap for infrastructure projects, especially in emerging countries. Originality/value IDFs have been analysed from a perspective of financial intermediation. The effectiveness of IDFs in bridging the funding shortfall has been evaluated from multiple perspectives.
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Syadullah, Makmun. "Prospects of Asian Infrastructure Investment Bank." Journal of Social and Development Sciences 5, no. 3 (September 30, 2014): 155–67. http://dx.doi.org/10.22610/jsds.v5i3.816.
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Infrastructure investment is one of the new sources of growth beside trade. However, the availability of infrastructure has become one of the major problems in the process of economic development in the region. Given the need for huge capital infrastructure in the region and the presence of the financing gap in infrastructure financing, the People Republic of Chinese (PRC) initiated the establishment of the Asian Infrastructure Investment Bank (AIIB). Thus, AIIB is expected to accelerate economic development and integration of Asia through the promotion of investment in the infrastructure sector. AIIB have several priority areas include transport, energy, communication, industry, and agriculture. The study used qualitative methods to compare the performance of various Multi Development Banks (MDBs) that existed such as IMF, ADB, IDB and WB with AIIB work plan. The results of this study will be expected to produce policy recommendations related to the formation of AIIB. AIIB initiative is the establishment of a relevant step with the spirit of accelerating economic development and integration of Asia to promote investment in the infrastructure sector. AIIB priority areas including transportation, energy, communication, industry, and agriculture is also a priority in developing countries. Openness in terms of membership (open regionalism) also showed that AIIB not only managed exclusively by the emerging countries in Asia but also opened to countries outside the region. The prospects of AIIB will be determined by how far the founding of PRC government transparency in every process both on stage and in the establishment of operational AIIB, how funding of AIIB direction forward and ensure it will not happen tied financing. This condition will be considered countries in the Asian region to join as founding members of AIIB.
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Smaoui, Houcem, Karim Mimouni, and Ines Ben Salah. "Do sukuk spur infrastructure development?" International Journal of Islamic and Middle Eastern Finance and Management 14, no. 4 (February 8, 2021): 655–70. http://dx.doi.org/10.1108/imefm-06-2020-0301.
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Purpose This paper aims to examine the effect do Sukuk Spur Infrastructure Development of Sukuk market expansion on infrastructure development for a sample of 15 emerging countries over the period 1997–2018. The paper also compares the role of Sukuk in infrastructure development to that of the size of the banking system, bond market development and stock market development. Design/methodology/approach A novel index of infrastructure development is constructed via principal component analysis. This index is regressed on Sukuk market development and other macroeconomic and institutional variables. To tackle the problems of heteroscedasticity and the existence of serial correlation in the residuals, the panel model is estimated using the generalized least squares (GLS) procedure with random effects and robust standard errors. Findings The evidence shows that a well-developed Sukuk market contributes to the expansion of the country’s infrastructure, whereas a larger banking system and a better capitalized stock market do not have any significant effect on infrastructure development. Surprisingly, well-developed bond markets jeopardize infrastructure expansion, thereby pointing to a potential crowding-out effect between Sukuk and bonds in financing infrastructure investments. Additionally, per capita GDP and education are positively related to infrastructure development, whereas inflation has a negative effect on the country’s proliferation of infrastructure. Originality/value This study uses a novel infrastructure index via principal component analysis and shows that Sukuk markets fill an important gap in the financing of large-scale and long-term projects. This result is novel and has not been documented in previous research.
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Dutra, Joisa, and Antonio Barbalho. "The convergence of business models and long-term financing in the energy transition." Competition and Regulation in Network Industries 18, no. 3-4 (September 2017): 256–70. http://dx.doi.org/10.1177/1783591718784743.
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In this article, we examine the convergence of business models and long-term financing to close the infrastructure gap in the context of the energy transition, revisiting challenges, and issues faced by policy makers and investors in mobilizing capital in a disrupted environment. Contextual analysis framework is developed to capture information from interviews with key stakeholders. We single out business models that emerged in the energy industry requiring different types of return and financing needs. The convergence among the type of the business models and the financing requirements determines the return allocation. Additionally, we identify key regulatory challenges that should be addressed along the way to promote investments and innovation in the context of the energy transition.
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Musah-Surugu, Issah Justice, Albert Ahenkan, Justice Nyigmah Bawole, and Samuel Antwi Darkwah. "Migrants’ remittances." International Journal of Climate Change Strategies and Management 10, no. 1 (January 8, 2018): 178–96. http://dx.doi.org/10.1108/ijccsm-03-2017-0054.
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Purpose The much-trumpeted Green Climate Fund and several other official financial mechanisms for financing adaptation to climate change under the UN Framework Convention on Climate Change have fallen short in meeting adaptation needs. Many poorer people are still grappling with the scourge of climate change impacts. Consequently, there has been a dominant research focus on climate change financing emanating from official development assistance (ODA), Adaptation Fund, public expenditure and private sector support. However, there has been little attempt to examine how migrants’ remittances can close adaptation financing gaps at the local level, ostensibly creating a large research gap. This paper aims to argue that migrants’ remittances provide a unique complementary opportunity for financing adaptation and have a wider impact on those who are extremely vulnerable to climate change. Design/methodology/approach The paper is aligned to the qualitative research approach. Both secondary and primary data acquired through interviews and focus group discussions were used for the study. Multiple sampling methods were also used to select the respondents. Findings The findings show that remittances are used to finance both incremental costs of households’ infrastructure and consumption needs, as well as additional investment needs to be occasioned by ongoing or expected changes in climate. Originality/value In the wake of dwindling government/public revenue, ODA and poor commitment of Annex II countries to fulfil their financial obligations, the study makes the following recommendations: First, the financial infrastructure underpinning money transfers in both sending and recipient countries should be improved to make transfers attractive. Second, significant steps should be taken to reduce the fees on remittance services, especially for the small transfers typically made by poor migrants. Finally, adequate climatic information should be made available to local people to ensure that remittances are applied to the right adaptation option to avoid maladaptation.
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Ningrat, Gratiyana, and Mohamad Soleh Nurzaman. "DEVELOPING FINTECH AND ISLAMIC FINANCE PRODUCTS IN AGRICULTURAL VALUE CHAIN." Journal of Islamic Monetary Economics and Finance 5, no. 3 (November 1, 2019): 491–516. http://dx.doi.org/10.21098/jimf.v5i3.1077.
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To meet the global population needs, it is projected to at least eighty billion dollars in investment per year to support the food security until 2050. It is widely known that the agriculture financing growth has stalled due to many reasons. Islamic finance has potential to spur the growth of agriculture financing to promote global food security. Meanwhile, agriculture in Indonesia is still nowhere to its potential. It is hindered by an inefficient and underdeveloped downstream segment, low access to financial and technology. This is a huge opportunity for Islamic finance in helping to bridge the gap through value chain finance approach as one of the strategies to reduce risk and give socio-economic spill-over effect along the chain. Islamic finance can promote agricultures sustainability and a more efficient process with FinTech enabled platform. The multiple case study proposes a sharia compliant community-based financing model in agricultural value chain practice with FinTech enabled platform. The result is this model integrating all actors from different market segmentation (landowners, suppliers, farmers, brokers, retailers, investor) into an Islamic value chain financing platform. However, determining buying intention, partnership establishment, and technology infrastructure are pivotal for its future implementation.
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YANG, JIE, WUQING WU, XIAO MAO, and ZONGWU CAI. "QUANTILE ANALYSIS OF INVESTMENT IN PRIVATE PARTICIPATION IN INFRASTRUCTURE PROJECTS." Annals of Financial Economics 14, no. 01 (February 13, 2019): 1950005. http://dx.doi.org/10.1142/s2010495219500052.
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Understanding the factors influencing investor’s decision to participate in a private participation in infrastructure (PPI) project is key to mobilizing private funding and closing up infrastructure financial gap among developing countries. However, inconsistent empirical results have been obtained in the literature regarding the importance of PPI determinants. Different from the existing literature, we propose using a quantile regression method to reconcile the discrepancy and capture a non-homogeneous relationship between various affecting factors and PPI investment based on data from Belt and Road (B&R) countries. As investment size grows, institutional factors, such as country’s stability, degree of democracy and regulatory quality, play an increasingly critical part in drawing funds, and investors become more sensitive towards country’s governance standard. With regard to multilateral development banks’ (MDBs’) role in supporting PPI and its underlying mechanisms, our results show that MDBs’ aiding role is more significant among medium and large-scaled projects and monetary support is proved to be the most efficient means among other support types offered by MDBs. Further test reveals that instead of hindering PPI investment due to potentially conflicting objectives among multiple MDBs, MDBs’ joint effort in one PPI project shows a compounded positive effect on PPI financing, suggesting that an increased collaborations among MDBs may be beneficial. However, no empirical support is found between financial market development of host country and total PPI investments. Overall, this study sheds lights on host country and MDBs’ future policy designs along B&R countries.
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Voskresenskaya, Elena, Lybov Vorona-Slivinskaya, and Tatyana Ponomareva. "Application of public-private partnership mechanisms for competitive growth of inland water transport in Russia." MATEC Web of Conferences 239 (2018): 08009. http://dx.doi.org/10.1051/matecconf/201823908009.
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The article deals with urgent problems of transport system development in Russia, paying the particular attention to inland waterway transport. The research is focused on the investment in the development of road infrastructure and methods of investing transport projects using public-private partnership mechanisms. The main reasons constraining the development of inland water transport in Russia are the insufficient amount of funds contributed to the development of the industry and their occasionally unreasonable use. In recent years, the world trend is to attract not only owners, but also infrastructure users to finance the inland waterway transport industry at a time when the financing gap is significant. The authors concluded that the simultaneous implementation of measures combining the introduction of fees paid by user and involving the improvement of water transport infrastructure through the public-private partnership mechanisms would promote attracting additional sources of investment. These investments will help to accelerate the industry modernization and implement the innovative scenario for the development of national economy. The authors developed the new model of state policy on attracting extra-budgetary sources of financing to the inland waterway transport industry.
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Arifin, Yusuf. "STRATEGY IMPLEMENTATION OF NATIONAL EDUCATION STANDARDS AT THE POTENTIAL JUNIOR HIGH SCHOOL IN BANDUNG." Journal Of Educational Experts (JEE) 2, no. 1 (March 30, 2019): 65. http://dx.doi.org/10.30740/jee.v2i1p65-74.
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The purpose of this study was to determine 1) the condition of the existing SMP potential in achieving the National Education Standards (SNP), 2) analyze the gap / gap between the real conditions Potential SMP with National Education Standards, 3) formulate an implementation strategy of the National Education Standards to Potential Junior High School. The unit of analysis in this study is 6 Potential Secondary Schools in the city of Bandung, which are in cluster 1 (1 Junior High School), cluster 2 (2 Junior High School) and cluster 3 (3 Junior High Schools). The results showed the level of the gap between the real conditions Potential Secondary Schools in Bandung with National Education Standards are as follows: standard financing is the largest gap compared with other standard is 59.2%. The next largest gap in a sequence is the standard of infrastructure (46.1%), the standard process (39.6%), the standard assessment (29.7%), teachers and education personnel standards (25%), the standard management (23.3 %), content standards (23.2%), and the smallest value of the average gap is competency standards (11%).
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Tchouassi, Gérard, and Fondo Sikod. "Diaspora Remittances and the Financing of Basic Social Services and Infrastructure in Francophone Africa South of the Sahara." Perspectives on Global Development and Technology 5, no. 3 (2006): 239–55. http://dx.doi.org/10.1163/156915006778620070.
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AbstractMigration is a human phenomenon that has intensified during the past several decades, reflecting the dynamics of societies and upholding the fact of its being an eternal human phenomenon. Remittances are a form of showing the attachment the migrant has with the country of origin, and one of the most visible and beneficial aspects of how international migration is reshaping the countries of origin. The hypothesis investigated by this study is that diaspora remittances to Francophone Africa south of the Sahara contribute to finance basic social services and infrastructures. A descriptive approach, based on literature review and secondary data shows how the contribution of diaspora remittances is filling the gap in the provision of social services that official sources cannot fill.
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Layla, Sheffany Nur, Rugaiyah Rugaiyah, and Desi Rahmawati. "Kinerja Program Studi Administrasi Pendidikan Fakultas Ilmu Pendidikan Universitas Negeri Jakarta." IMPROVEMENT Jurnal Ilmiah untuk peningkatan mutu manajemen pendidikan 4, no. 1 (May 17, 2017): 52. http://dx.doi.org/10.21009/improvement.04107.
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The improving of performance in educational institution is expected to produce agood output. Many things must be prepared and have good performance to achieve thequality institution. This study focuses on the evaluation of the implementation of theStandards and Procedures Accreditation of Undergraduate Studies at Higher Educationlevel in Education Administration Studies Program Faculty of Education, UniversitaNegeri Jakarta. The scope of study is limited to the evaluation of the implementation ofstandards and procedures for accreditation.This study uses Discrepancy Evaluation Model (DEM) as model evaluation. Itevaluates the gaps of program that is based on intermediate state which is expected in theplan with that generated in the implementation of the program. Evaluation of the gap isintended to determine the level of compatibility between the standards prescribed in theprogram with the actual appearance of the program. The data source is data offinancing,insfrastructure, information system, research, community service andcooperation in year 2013-2015.sThese results indicate that; (1) the performance component on financing aspects,the aspect of financing is not directly managed by the study program. (2) the existingcomponents of the infrastructure shows the percentage of achievement in the category ofgood. (3) the component information system shows the percentage of achievement in thecategory of good. (4) component research, community service and cooperation shows thepercentage in the category of pretty good achievement. Based on the acquisition of thefour components of the above, the performance Educational Administration Faculty ofEducation UNJ aspects of financing, infrastructure, information systems, research,service and cooperation demonstrated has good category.
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Zhao, Peng Peng, and Fan Rui Meng. "Agricultural Water Conservation Cost Control Mechanism of the Pre-Coastal City Based on Design Innovation." Applied Mechanics and Materials 644-650 (September 2014): 5962–65. http://dx.doi.org/10.4028/www.scientific.net/amm.644-650.5962.
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Water-saving irrigation is the livelihood of the people to solve the problem of coastal city agriculture water shortage of water conservancy projects. To investigate the situation of the construction of agricultural water-saving facilities in Tianjin, first ,this paper analyzes the using costs, including running maintenance costs. According to the life-cycle cost theory, it is an important means to control using costs in the infrastructure construction engineering design stage. Then the paper will analyze the complexity of the demand of urban water-saving irrigation and propose that designing innovation is the key to control the complex using costs. Finally , the paper will analyze The effect of investment and financing model of design innovation process. On the one hand, the mode of investment and financing will help to solve the construction funding gap; On the other hand, it will affect water-saving cost pre-control in different degrees.
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Webb, Janette. "Evaluating Urban Energy Systems in the UK – the Implications for Financing Heat Networks." Science & Technology Studies 27, no. 3 (January 1, 2014): 47–67. http://dx.doi.org/10.23987/sts.55314.
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UK energy policies position urban heat networks as components of a resilient low carbon, aff ordable system, but, as Stewart Russell’s work showed, such technologies have never been integrated into UK provision. This paper takes Russell’s legacy forward by examining prospects for urban district heating and combined heat and power development in the context of the fi nancial, rather than technological, innovations shaped by liberalised energy and fi nancial markets. Drawing on sociology of markets and social studies of fi nance, the paper examines the resulting evaluation practices. Findings indicate that such district energy infrastructure does not conform to the investment calculus, making a business case hard to establish. Bridging the value gap between liberalised fi nance and district energy requires actors willing to devise improvised solutions. In spite of the established sustainability credentials of the technology therefore, signifi cant deployment in the UK (and similar countries) will depend on political leadership and new fi scal policy.
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Lupieri, Sigrid, and Lorraine Frisina Doetter. "Transnational interdependency and healthcare system change: The role of humanitarian and development aid in shaping health policy in Jordan." Global Social Policy 20, no. 2 (January 28, 2020): 192–214. http://dx.doi.org/10.1177/1468018119896465.
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This article examines the role of external financing as a form of transnational economic interdependency in shaping healthcare system change in Jordan. More specifically, this exploratory study traces the trajectory of Jordan’s healthcare policy such as regards public financing, investment in infrastructure, and policy priorities – especially, efforts at universalism and health as a human right – over the years 2008–2018. During this period of observation, the Jordanian healthcare system was subject to various exogenous shocks in the form of recurrent and large influxes of refugees from Iraq and Syria. Regarded as a crisis, the growing presence of the refugee population introduced a significant increase in humanitarian and development aid that brought with it resources for both the displaced and host populations. This study examines whether increased external financing in the form of overseas development aid necessarily translates into healthcare system expansion for both citizens and refugees. This article will contribute to filling the gap in knowledge and understanding of the complex interdependencies which influence the evolution of healthcare policies in a country not only affected by an ongoing refugee crisis, but also at the geopolitical crossroads of international interests in the Middle East region.
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Owolabi, Hakeem, Lukumon Oyedele, Hafiz Alaka, Muhammad Bilal, Saheed Ajayi, Olugbenga Akinade, and Alirat Agboola. "Stimulating the attractiveness of PFI/PPPs using public sector guarantees." World Journal of Entrepreneurship, Management and Sustainable Development 15, no. 3 (October 22, 2019): 239–58. http://dx.doi.org/10.1108/wjemsd-05-2018-0055.
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Purpose Although the UK Guarantee Scheme for Infrastructures (UKGSI) was introduced in 2012 to address the huge financing gap for critical infrastructures, PFI sponsors have so far guaranteed only few projects. Many stakeholders in the project finance industry have blamed this situation on lack of general understanding of strategies for harnessing the benefits of the government guarantee scheme. The purpose of this paper is to investigate the perspectives of UK’s PFI/PPP stakeholders on critical factors influencing approval for government guarantees using the UKGSI as a focal point. Design/methodology/approach Using a mixed methodology approach, this study identified 26 important criteria used in evaluating government guarantee applications through focus group discussions with PFI stakeholders. The identified criteria were then put in questionnaire survey to 195 respondents within the UK PFI/PPP industry. Findings Through factor analysis, five critical factors determining successful government guarantee application were unravelled. These include: compliance with UK National Infrastructure Plan; demonstration of project bankability and risk management; value for money; proof of projects’ dependence on government guarantee; and certainty of planning commission’s approval. Originality/value Results of this study will facilitate an in-depth understanding of critical factors necessary for accessing government guarantee scheme for PFI/PPPs, while also improving the bankability of potential PFI projects.
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Rogozhin, A. A. "State-private Partnership’s Experience in Infrastructure Development in Southeast Asian Countries." Outlines of global transformations: politics, economics, law 12, no. 6 (December 30, 2019): 268–86. http://dx.doi.org/10.23932/2542-0240-2019-12-6-13.
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The article provides an analysis of the specifics of infrastructure development in Southeast Asia (SEA), in particular the mechanism for financing public-private partnerships (PPPs), which are supported by governments throughout the region in order to bridge the gap in infrastructure development amid limited public resources. SEA countries need investment for infrastructure development in the amount of at least $150 billion a year to maintain their economic growth, which cannot be financed exclusively from public funds or by attracting foreign capital. In the region, only Singapore and Brunei have sufficient resources to finance the development of infrastructure they need entirely from the state budget. The focus is on the five countries in the region that are most actively using the PPP mechanism now and plan to actively resort to it in the near future: Indonesia, Malaysia, the Philippines, Thailand and Vietnam. The infrastructure system of these countries is considered, as well as factors that affect the effectiveness of PPP in region - both positive and negative. It is noted that PPPs in Southeast Asia are faced with all sorts of problems, primarily with inefficient state regulation and the institutional conditions for their implementation in PPP projects. For the active implementation of PPP in Southeast Asia, it seems appropriate to focus on the proposal of a small number of carefully prepared PPP projects that may have the necessary demonstration effect. In addition, it seems to us, the powers of national and local government departments dealing with PPPs should be widened.
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Sitorus, Silvy Anita Theresia, and Avanti Fontana. "Business Model Improvement: A Study Case of Channeling through E-commerce." Journal of International Conference Proceedings 4, no. 1 (July 22, 2021): 197–206. http://dx.doi.org/10.32535/jicp.v4i1.1141.
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Micro, Small, and Medium Enterprises or MSMEs contribute to domestic economic growth. However, in the course of business, MSMEs still have obstacles. From the standpoint of internal, namely aspects of non-financial capacity such as management, personnel, marketing, and production, as well as financial aspects such as access to sources of financing, profitability management, and profit growth. External factors, namely political, economic, social, technological, and health situations, have an impact on the stability of business performance. Advances in technology, supported by infrastructure and ease of regulation, have encouraged the growth and development of digital-based businesses. This business coaching method focused on the activities at XYZ's Crackers Business, an Indonesian MSME. The purpose of this business coaching activity is to develop marketing channels for XYZ businesses. Data was collected through interviews, observations and surveys. The data is then collected and analyzed through Business Model Canvas analysis, SWOT and TOWS Business Model Canvas analysis, PESTEL analysis, market opportunity analysis (STP), Marketing Mix analysis, and Gap analysis. The solution obtained is to improve the business model, namely the channel element in the form of adding an online store through e-commerce.
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Soetanto, Robby, Ferry Hermawan, Alistair Milne, Jati Utomo Dwi Hatmoko, Sholihin As'ad, and Chusu He. "Developing sustainable arrangements for “proactive” disaster risk financing in Java, Indonesia." International Journal of Disaster Resilience in the Built Environment 11, no. 3 (March 25, 2020): 435–51. http://dx.doi.org/10.1108/ijdrbe-01-2020-0006.
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Purpose Recent years saw a paradigm shift from ex post (reactive) to ex ante (proactive) approaches (e.g. insurance) to disaster risk financing for building resilience of communities in developing countries. To facilitate adoption, the approaches should be adapted so that they can be technically feasible and culturally desirable to the local context. This paper aims to report an exploratory study to elaborate the existing arrangements to deal with the impacts of disaster and the potential to shift to a more proactive disaster risk financing in Indonesia. Design/methodology/approach A series of stakeholder engagement activities in Semarang and Solo, Indonesia was conducted to ascertain the existing arrangements for disaster risk financing at local government level, the challenges/barriers to the adoption of insurance, education and policies to facilitate the transformation from reactive to proactive process. Thematic analysis was applied to transcribed conversations during interviews, focus groups and workshops. Identification of emerging issues/themes was also guided by the researchers’ notes during the events, and facilitated by qualitative analysis software, Atlas Ti®. This was complemented by an analysis of regulations and documents provided by the local stakeholders. Findings The local governments heavily rely on contingency fund, which is not enough and often significantly delayed to fund recovery and reconstruction of public infrastructure. The use of insurance is limited in both public and private sectors, particularly in the majority of low-income communities. Various barriers and challenges were identified under several categories, namely, institutional, cultural, affordability, lack of awareness and knowledge, insurance arrangement process and lack of trust. The findings also suggest that improving insurance education should involve multiple stakeholders, and both formal and informal routes should be pursued. Originality/value The research fills the gap of knowledge in disaster risk financing in the context of developing countries, specifically in local governments and communities in Indonesia. The findings may be replicable for other developing countries with low adoption of ex ante financial instruments for dealing with the impacts of disaster.
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Obih, Uchenna, and Lloyd Baiyegunhi. "Financing Smallholder Rice Farmers: A Field-Based Evidence Review of Anchor Borrowers’ Programme (ABP) Model in Nigeria." Journal of Economics and Behavioral Studies 10, no. 6 (December 22, 2018): 229. http://dx.doi.org/10.22610/jebs.v10i6.2613.
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Nigeria’s spending of US$2billion annually on rice importation has been considered a major source of foreign exchange drain and a threat to domestic rice industry. One of the major reasons adduced for this high import bills is the persistent demand-supply gap arising from the country’s inability to increase domestic output of paddy rice to optimize the total capacity of several integrated rice mills established across the country in the last 15 years. In 2015, the government launched the Anchor Borrowers’ Programme (ABP) to make cheap funds accessible to smallholder farmers (SHFs) who produce more than 85% of total farm output in Nigeria. ABP is designed to encourage banks to lend to SHFs to boost paddy rice production. This paper presents the field experiences of SHFs, banks and rice millers who participated in the programme in 2016/2017. This paper concludes that ABP is a laudable programme that can contribute in achieving the food security objective of the government. The key challenges found to be threatening the success and sustainability of ABP included delays in timely disbursement of funds by deposit money banks (DMBs), inadequate personnel and institutional framework, side-selling of harvested paddy rice by SHFs, State government undue involvement in the ABP, and poor rural infrastructure. Policy recommendations to strengthen the ABP model for improved impact were discussed.
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Hopewell, Kristen. "How Rising Powers Create Governance Gaps: The Case of Export Credit and the Environment." Global Environmental Politics 19, no. 1 (February 2019): 34–52. http://dx.doi.org/10.1162/glep_a_00490.
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This article analyzes how rising powers are affecting an important area of global governance at the intersection of trade and environment: export credit. State-backed export credit agencies (ECAs) play a major role in financing large infrastructure and energy projects, particularly in developing countries. Many of these projects carry significant environmental implications, yet there has been little scholarly attention to their governance. Since the 1990s, global governance of the environmental practices of ECAs has been progressively expanded and strengthened via the OECD Arrangement on export credit and Common Approaches for environmental and social due diligence. Recently, however, there has been a dramatic increase in export credit provision by rising powers, such as India and China, who are not members of the OECD nor subject to the Arrangement or Common Approaches. In this article, I argue that existing governance mechanisms have not caught up with the rapidly changing landscape of export credit. Drawing on the case of India’s financing for the Rampal coal-fired power plant in Bangladesh, I show that the problem of environmental governance for export credit increasingly extends beyond the advanced-industrialized states of the OECD. The failure to cover the large and growing volume of export credit provided by the emerging powers represents a major gap in the established system of environmental governance for export credit.
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Mwangi, Isaiah Gichohi, and Dr Johnbosco Mutuku Kisimbi. "Critical Success Factors Influencing the Performance of Infrastructure Projects in The Aviation Industry in Kenya; A Case of Moi International Airport." Journal of Entrepreneurship and Project Management 5, no. 2 (December 16, 2020): 93–113. http://dx.doi.org/10.47941/jepm.498.
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Purpose: Aviation sector in Kenya facilitates both international and domestic trade, promotes tourism and foreign investment thus contributing to government revenue and employment opportunities. Therefore, improving airport infrastructure would help reduce travel time, improve connectivity. The high rates of project failure have become a major concern for stakeholders hence the need to identify key factors that promote project success or failure. This study seeks to assess the critical success factor influencing the performance of construction projects in Kenya.Methodology: The study adopted quantitative method to examine critical success factors for the performance of aviation construction projects in Kenya. Descriptive case study research design was adopted and self –administered questionnaires were used to collect quantitative for analysis. The variables of interest include timely financing project activities, competency of contractors, participation of stakeholders, and management skills. Descriptive analysis and inferential tests were conducted with the aid of IBM SPSS version 23 software.Results: The study found that timely financing, contractor competency, stakeholder participation, and management skills have positive and significant influence on the performance of aviation construction projects. Descriptive results suggest that tractors competency, timely financing, management skills, and stakeholders’ participation have a strong positive influence on project performance. The study has also established a significant contribution of contractor competency to the successful performance of aviation construction projects. It was also noted that participation of key stakeholders in projects identification, decision making, and resource mobilization can enhance the success of aviation construction projects. It was observed that these factors account for over 54.9% of changes in project performance.Unique contribution to theory, policy and practice: In light of these results, the study recommends industry players to put measures in place that would allow timely provisions of finance for all project activities. It is also important to source for competent and experienced contractors, engage key stakeholders in decision making about the project, and recruit a competent and skilled project manager. The study results have a significant contribution to practitioners in the aviation construction sector in Kenya. The study provides the practitioner with the most critical variables likely to influence the performance of aviation construction projects. It further acknowledges that external factors also influence the success of these projects. In light of this, the practitioners can institute contingency plans to mitigate the risks to ensure successful completion of their projects. To the academic, the current study has filled literature gap on critical success factors for aviation project performance. Given the upcoming mega project in aviation sector around the world, these factors provide the basis for future research in this area to ensure these projects are executed successfully within budget and schedule
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Obih, Uchenna, and Lloyd Baiyegunhi. "Financing Smallholder Rice Farmers: A Field-Based Evidence Review of Anchor Borrowers’ Programme (ABP) Model in Nigeria." Journal of Economics and Behavioral Studies 10, no. 6(J) (December 22, 2018): 229–39. http://dx.doi.org/10.22610/jebs.v10i6(j).2613.
Full textAbstract:
Nigeria’s spending of US$2billion annually on rice importation has been considered a major source of foreign exchange drain and a threat to domestic rice industry. One of the major reasons adduced for this high import bills is the persistent demand-supply gap arising from the country’s inability to increase domestic output of paddy rice to optimize the total capacity of several integrated rice mills established across the country in the last 15 years. In 2015, the government launched the Anchor Borrowers’ Programme (ABP) to make cheap funds accessible to smallholder farmers (SHFs) who produce more than 85% of total farm output in Nigeria. ABP is designed to encourage banks to lend to SHFs to boost paddy rice production. This paper presents the field experiences of SHFs, banks and rice millers who participated in the programme in 2016/2017. This paper concludes that ABP is a laudable programme that can contribute in achieving the food security objective of the government. The key challenges found to be threatening the success and sustainability of ABP included delays in timely disbursement of funds by deposit money banks (DMBs), inadequate personnel and institutional framework, side-selling of harvested paddy rice by SHFs, State government undue involvement in the ABP, and poor rural infrastructure. Policy recommendations to strengthen the ABP model for improved impact were discussed.
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Cardoso, Wagner, Walther Azzolini Junior, Jéssica Fernanda Bertosse, Edson Bassi, and Emanuel Soares Ponciano. "Digital manufacturing, industry 4.0, clould computing and thing internet: Brazilian contextualization and reality." Independent Journal of Management & Production 8, no. 2 (June 1, 2017): 459. http://dx.doi.org/10.14807/ijmp.v8i2.572.
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The digital era represents significant changes in the design of IT projects with an emphasis on digital infrastructure, especially in terms of investment and professional qualification, which requires, in Brazil, the creation of specific lines of financing by government development agencies. The creation of demonstration platforms could be an effective initiative to stimulate the dissemination of the concept and the establishment of partnerships between customers and suppliers of new technologies. On the other hand, and particularly for the consumer market, corporations can create new business models and modify their relationships with their consumers, users and even competitors. In fact, today, "Thing Internet" has come to significantly modify the paradigms of perception, production and distribution of the capitalist world. This article discusses, covering and understanding the main reasons for the existence of this gap between theory and practice regarding digital manufacturing and adjacencies, the perspectives of technological innovations in the digital era specifically in Brazil. Its content is the result of a bibliographical review carried out from April to June 2016.
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Eke, Patrick O., Kehinde A. Adetiloye, and Esther O. Adegbite. "An Analysis of Bond Market Liquidity and Real Sector Output in Selected African Economies." E+M Ekonomie a Management 23, no. 4 (December 1, 2020): 166–81. http://dx.doi.org/10.15240/tul/001/2020-4-011.
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There is increasing traction in the literature on the activities of the secondary securities’ market especially with bonds on financial development, with little known on its functional linkage to real sector growth. Following popular theories on bond financing, this study sought to fill this gap by examining if functional tie exists between the secondary bond markets and real sector output among fourteen African countries with functional bond markets and complete data. Among the variables adapted for use are real gross domestic product per capital, corporate bond issues, industrial output, corporate bond turnover, financial education, electricity consumption and institutional quality. The study tested through unit roots to augmented Toda-Yamamoto non-causality and co-integration approach to investigate both the short- and long-term relationships among the different variables. A priori, it was expected that market information would engender capital raising through bond issues and fund allocation. The study however, discovers that corporate bond turnover does not cause industrial output growth, neither does it cause corporate bond issue. An important short run result indicates that the impact of financial education is gradually being felt in the bond markets. For most of the long-run relationships, the study accepted the Null hypothesis. This implies that the investing public do not absorb the usefulness of the market information, which may explain the thinness and shallowness of African corporate bond market overtime. The liquidity signalling effects is however found to influence regulatory institutional quality in the long-run. An accelerated financial market liberalization and tax incentives for private sector provision of market infrastructure are recommended among others for improvement in the African bond markets investigated, among others.
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Molokomme, V. K., E. Seekoe, and D. T. Goon. "The Perception of Professional Nurses About the Introduction of the National Health Insurance (NHI) in a Private Hospital in Gauteng, South Africa." Open Public Health Journal 11, no. 1 (May 31, 2018): 234–42. http://dx.doi.org/10.2174/1874944501811010234.
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Introduction:Based on concerns raised by professional nurses working in a private hospital that hinge on financial implication of the NHI, the state of public health sector and implications of the NHI to the South African health system prompted the need to determine their perceptions on the introduction of the NHI in a private hospital in Gauteng province, South Africa.Methods:A qualitative, exploratory and descriptive design using a semi-structured individual interview schedule was conducted. Coding and thematic analysis of data were done. The sample was purposive, consisting of 18 professional nurses from a private hospital in Gauteng, South Africa.Results:Findings indicated that they acknowledge the principles of the NHI such as a right to access healthcare, equity, affordability, efficiency, effectiveness and appropriateness. However, there were concerns on the Department of Health’s ability to ensure adequate human resources, sufficient equipment, safe infrastructure, meeting the national core standards which are still hampered by challenges experienced in public hospitals. Participants indicated that the government is not ready for the implementation of the NHI, based on the perceived non-transparency on outcomes from NHI pilot sites.Conclusion:General views concerning funding challenges, based on perceived mismanagement of funds and irregular expenditure as well as poor communication with all stakeholders involved in the implementation of the NHI were raised. The NHI is not only about financing, it involves service delivery, management and governance of health care services. There is a gap in information available to healthcare workers concerning the implementation of the NHI in South Africa.
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Hutchings, P., M. Johns, D. Jornet, C. Scott, and Z. Van den Bossche. "A systematic assessment of the pro-poor reach of development bank investments in urban sanitation." Journal of Water, Sanitation and Hygiene for Development 8, no. 3 (April 16, 2018): 402–14. http://dx.doi.org/10.2166/washdev.2018.147.
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Abstract This paper presents an assessment of development banks’ investment in urban sanitation between 2010 and 2017. It reveals an overall increase in investment, yet this falls short of bridging the significant financing gap in the sector. The paper also assesses the major areas of investment to show that, on the infrastructure side, 20 times more money is invested in sewerage than faecal sludge management, while on the enabling environment side, institutional capacity building is the most financed area. Using a new pro-poor assessment tool, an appraisal was made of the extent to which the investments were pro-poor. This analysis indicates that over half of investments, where an assessment could be made, were considered to be pro-poor, yet the use of the assessment tool reflects a lack of information within development bank reporting on the pro-poor nature of investments. Going forward, improving how development banks report on the pro-poor character of their investments would be a useful step for helping the sector assess the effectiveness of investments. The paper concludes by arguing that, despite progress, development banks should be even more ambitious in seeking to support pro-poor urban sanitation investments if the world is to overcome the urban sanitation challenge.
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Prodius, Oksana. "TRENDS AND PROBLEMS OF INNOVATIVE ACTIVITIES DEVELOPMENT OF DOMESTIC INDUSTRIAL ENTERPRISES." Green, Blue and Digital Economy Journal 1, no. 2 (December 3, 2020): 20–26. http://dx.doi.org/10.30525/2661-5169/2020-2-4.
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The aim of the article is to study the dynamics of innovations development, to identify the main problems of innovative activities development and to advance proposals for the incentive instruments formation. The main method of research is the systemic and structural approach, which makes it possible to organize the search for solving problems most effectively. Methods of comparative, functional analysis and classification are also used. The theoretical basis of the article is the conceptual provisions and scientific principles developed by domestic and foreign scientists on the innovative development of industrial enterprises, tools for their implementation. However, the problems associated with the development and implementation of an effective mechanism for applying the innovative development of industrial enterprises in the context of the need to intensify the inclusiveness of innovative processes remain unfinished. The importance and significance of these questions determined the choice of the topic of the article, setting of the purpose and objectives of the study. The article analyzes the status and dynamics of innovative activities of domestic enterprises. The main trends and problems of the enterprises’ innovative development in modern conditions of limited financing and reducing the foreign investment resources are revealed. The level of using various types of innovations by industrial enterprises is investigated and the peculiarities of cost sharing for innovative activities are determined. The condition analysis of innovative activities of Ukraine’s industrial enterprises is carried out, namely the ratio of innovative products sold, the ratio of enterprises engaged in innovative activities, the number of new technological processes introduction and the production development of new types of products by industrial enterprises, funding sources of innovative activities. The structural analysis of various instruments efficiency of innovations financing in the domestic market is carried out. Ukraine’s innovation infrastructure should be provided with adequate resources in the context of a modern international methodology to support innovative business, which will help to minimize and close this gap. The available resources and potential should be focused on supporting research, which is one of the foundations of innovation potential, and creating an effective infrastructure that will help to transform research results into a product suitable for commercialization. Programs should be introduced to support academic payouts, start-ups, or other means of commercial use of innovative investments. The exposure-response relationships of innovative development stagnation are revealed and the ways of optimization and elimination of imbalance are provided. The recommendations for improving the innovative activities of industrial enterprises are developed.
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Wahyuni, Sari, Alif Azadi Taufik, and Felix Kin Peng Hui. "Exploring key variables of port competitiveness: evidence from Indonesian ports." Competitiveness Review: An International Business Journal 30, no. 5 (May 8, 2020): 529–53. http://dx.doi.org/10.1108/cr-11-2018-0077.
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Purpose This study aims to understand the factors and problems that relate to Indonesian port competitiveness and the problems that need to be addressed by major actors such as the government and port corporations. Design/methodology/approach It combines quantitative analysis from 59 survey respondents and qualitative analysis from focus-group discussions and in-depth interviews with port experts, financial bodies, port corporations and government officials on the condition of Indonesian port planning, development and financing. Findings An Indonesian port competitiveness model was developed, comprising government support, business support and operational performance. The authors found a gap between policy expectation and realization of port facilitation, caused by inefficient government bureaucracy, customs clearance and strategic decision-making. The government's consistency and commitment need work to encourage investor interest. Road connectivity, intermodal transportation, and energy infrastructure should be enhanced to increase operational performance. These problems are caused by a lack of feasibility analysis, consideration of local economic developments, and late adoption of standard technology. The maritime-sector workforce should be trained to be more professional with foreign players, more innovative and more open towards foreign assistance. Practical implications Port competitiveness includes government-related variables. The government’s initiatives are welcomed but are not enough. Adequate attention to both micro and macro port is necessary to increase port competitiveness. Future research should develop more comprehensive solutions to increase port competitiveness in Indonesia using problems and factors outlined here. Originality/value The study investigated the unique factors and problems that relate to Indonesian port competitiveness. It uses a national scope and rich expert data involved in Indonesia's port industry.
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Новикова, Александра, and Aleksandra Novikova. "STATE, PROBLEMS AND THE PROSPECTS OF DEVELOPMENT OF HUMAN CAPITAL IN THE SCIENTIFIC SPHERE OF THE RUSSIAN FEDERATION." Bulletin of Bryansk state technical university 2016, no. 5 (December 30, 2016): 262–66. http://dx.doi.org/10.12737/article_58f9c4d9e4ee34.30810136.
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The purpose of the paper is to consider dynamics, structure, and also features of financing and the ways of human capital development in the scientific sphere of the Russian Federation.
Methods of investigation are the analysis and synthesis, historical and logical methods, a systematic approach, a graphical method, a relative values method.
According to the results of the research the main stages of Russian science development after breakup of the Soviet Union are defined, dynamics of the number of researchers by areas of science and also their age structure are considered. The reasons preventing further continuation of young Russian scientists activity in the Russian Federation, and also on the contrary, keeping them in the country are established. Dynamics of expenditures on the scientific and technical RF complex development is shown based on the resolution of the RF Government on Federal target program «Research and development on the priority directions of Russian scientific-technological complex development for 2014-2020" taking into account its annual adjustment.
Conclusions: a range of issues hampering the de-velopment of Russian science at the present stage of its development is defined, such as insufficient effective-ness of scientific research, lack of independent self-evaluation, undeveloped infrastructure and insufficient material and technical resources, and also the widening gap between basic and applied scientific research. The solution of these problems has the special significance in the context of growing competition in the world scientific system under condition to postindustrial so-ciety.
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Popoola, Oluwatoyin Muse Johnson. "Preface to the Volume 2 Issue 4 of Indian-Pacific Journal of Accounting and Finance." Indian-Pacific Journal of Accounting and Finance 2, no. 4 (October 1, 2018): 1–3. http://dx.doi.org/10.52962/ipjaf.2018.2.4.55.
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I welcome you to the Volume 2 Issue 4 of Indian-Pacific Journal of Accounting and Finance (IPJAF).
In this Issue 4, all the presentations are international research with emphasis on Islamic financing, entrepreneurship, corporate governance, accounting for small, medium and large enterprises and Islamic banking
In the first paper captioned “Innovation Co-operation Impact on Operations of Small, Medium and Large (SML) Firms: A Malaysia Perspective”, Dr Mohammed Ndaliman Abubakar (Deputy Director Collaborations & Linkages, The Federal Polytechnic Bida, Nigeria), examine how innovation co-operation influences the activities of small, medium and large (SML) firms to become innovative and perform effectively. Using a dataset of a survey study based on Malaysian Innovation Survey (NIS) and European community innovation survey (CIS) reports, a total of 1178 firms cutting across small, medium and large (SML) companies for manufacturing and service firms were examined using an open innovation paradigm in practice to understand the extent of co-operation and collaboration in performing innovation activities. The study data were analysed using descriptive statistics and logic regression model estimation for ease of comprehension. The findings showed that almost all the companies survey were involved in performing one innovation or the other. Furthermore, it reveals that different partnership was sought for co-operation and collaboration in performing their innovations.
In the second paper entitled “Corporate Governance Disclosure: The Evidence from Nigeria”, Abubakar M. Dembo (University of Bedfordshire, UK) study centres on the investigation of the level of compliance with the Nigerian Corporate Governance Code's recommendations by the six selected oil companies from 2004 to 2012. Two stages of compliance level with the Corporate Governance Disclosure Index (CGDI) were developed from 43 specific corporate governance issues based on the Nigerian Code's provisions and analysed. Firstly, the study demonstrates the degree of compliance with the CGDI for the selected companies over the survey period (2004-2012). This allows the testing of the continuous progress of the level of conformity with the Nigerian Code's provisions. Second, it measures the level of compliance with the CGDI that existed over the 2004-2009 and 2010-2012 periods respectively. The motive is to find out whether the level of compliance with corporate governance has increased over the two periods since the creation of the Nigerian Code in late 2003. The findings indicate a remarkable improvement in compliance with the Nigerian Code over the periods by the selected companies.
In the third paper titled “Sub-Sahara Africa’s (SSA) infrastructure funding gap: Potentials from Sukuk financing”, Dr. Abdulazeez Adewuyi Abdurraheem (Universiti Utara Malaysia) and Prof. Dr. Asmadi Mohamed Naim (Universiti Utara Malaysia), evaluates the depth of utilisation of Islamic capital market using Sukuk instruments as another source of funding to fill the observed funding gap for infrastructure development. The study finds the use of Sukuk as a long-term financing instrument, though still at its infancy stage in the region. The paper, therefore, suggests that the SSA countries can undertake rapid and massive infrastructure developments in the area through the use of Sukuk instruments, thereby eliminating increasing sovereign debt over-hang from the conventional debt market. Their study recommends that policymakers in the region put in place required laws and regulations that will provide enabling environments for effective utilisation of Sukuk instruments for infrastructural development. Similarly, they canvass strong political will on the part of the region’s political leaders as an essential ally in nurturing strong institutions, which they argue can engender policy continuity to ensure effective and efficient management of infrastructure projects funded by Sukuk instruments.
In the fourth paper entitled “Effectuation Approach in Accessing Entrepreneurial Education Significance on Students’ Entrepreneurial Intention”, Ayotunde Adetola Adelaja (Universiti Utara Malaysia), Modile Adekunle Umar (Universiti Malaysia Perlis), Mike Terkuma Soomiyol (Universiti Utara Malaysia), Iliyasu Shiyanbade Najeemdeen (Universiti Sultan Zainal Abidin), and Bello Taofik Abidemi (Universiti Utara Malaysia) assess the practical significance of entrepreneurial education in enhancing students’ entrepreneurial intention. They also examine the students’ perceived importance of access to finance as a determining factor to entrepreneurship, and the moderating effect of financial access on the relationship between entrepreneurial education and entrepreneurial intention. An online survey via google form was sent out to UUM students who have at one time has entrepreneurial education exposure. The study respondents include international and local levels of both postgraduate and undergraduate students. 250 students completed the online survey within one month. The data collected were analysed using IBM SPSS version 23 with pre-installed process macro developed by Hayes (2013). The findings reveal that both entrepreneurial education and access to finance contributes significantly to their entrepreneurial intention. However, the students perceive access to finance as a causal factor to entrepreneurial intention rather than an effectuation factor. Hence, the education offered can be argued to have more of managerial implications rather than entrepreneurial consequences.
In the fifth paper titled “Task performance and Skills in IR 4.0: The moderating effect of Attitude”, Dr. Oluwatoyin Muse Johnson Popoola (Universiti Utara Malaysia), Prof. Dr. Ayoib Che Ahmad (Universiti Utara Malaysia), Dr. Rachael Oluyemisi Arowolo (Chrisland University, Nigeria), and Dr. Mazrah Malek (Universiti Utara Malaysia) examine the moderating impact of attitude (ATT) on skills (SK) and task performance fraud risk assessment (TPFRA) of professional accountants conceptually. This study possesses the capacity to impact the ethical, legal, regulatory, and institutional framework. Furthermore, the study possesses the abilities to persuade the efficient and effective policy formulations and enhance capacity building of the workforce in the public sector. To the best of the researchers’ knowledge, this may perhaps be the first conceptual study on the accountant's attitude as an indispensable capability requirement for skills and task performance fraud risk assessment in the specific working environment.
The IPJAF existence is anchored on the service and dedication of its editorial board, the editorial team, and authors. I firmly believe that in the coming year, 2019, the vision of IPJAF to publish high-quality manuscripts within the scope of IPJAF from academic and professional researchers will be continually maintained and acknowledged.
As you read through this Vol. 2 Issue 4 of IPJAF, I would like to appreciate you profoundly for your participation in submitting high-quality papers for review and publication in IPJAF. Notwithstanding the success so far recorded, I implore you and your colleagues, friends and associates to continue to partner with IPJAF by submitting quality research and policy papers within our scope for publication.
I assure our prospective authors, regardless of the acceptance of your manuscripts or not, to continue to enjoy the benefits IPJAF provides about our review process, which offers high quality and helpful reviews tailored to assist authors in improving their manuscripts. In conclusion, I acknowledge your support as you, and I work hard to make IPJAF the most authoritative journal on accounting and finance for the community of academic, professional, industry, society and government.
I thank you from the bottom of my heart for your continued interest, support and patronages to IPJAF in 2018, while looking forward to more beneficial relationships in 2019.
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Taylor-Alexander, Samuel, and Courtney Addison. "Building for Biology: A Gene Therapy Trial Infrastructure." Engaging Science, Technology, and Society 3 (June 29, 2017): 332. http://dx.doi.org/10.17351/ests2017.104.
Full textAbstract:
In this article, we examine the construction of the infrastructure for a Phase II gene therapy trial for Cystic Fibrosis (CF). Tracing the development of the material technologies and physical spaces used in the trial, we show how the trial infrastructure took form at the uncertain intersection of scientific norms, built environments, regulatory negotiations, patienthood, and the biologies of both disease and therapy. We define infrastructures as material and immaterial (including symbols and affect) composites that serve a selective distributive purpose and facilitate projects of making and doing. There is a politics to this distributive action, which is itself twofold, because whilst infrastructures enable and delimit the movement of matter, they also mediate the very activity for which they provide the grounds. An infrastructural focus allows us to show how purposeful connections are made in a context of epistemic and regulatory uncertainty. The gene therapy researchers were working in a context of multiple uncertainties, regarding not only how to do gene therapy, but also how to anticipate and enact ambiguous regulatory requirements in a context of limited resources (technical, spatial, and financial). At the same time, the trial infrastructure had to accommodate Cystic Fibrosis biology by bridging the gap between pathology and therapy. The consortium’s approach to treating CF required that they address concerns about contamination and safety while finding a way of getting a modified gene product into the lungs of the trial participants.
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Petroutsatou, Kleopatra, Nikolaos Apostolidis, Athanasia Zarkada, and Aneta Ntokou. "Dynamic Planning of Construction Site for Linear Projects." Infrastructures 6, no. 2 (February 1, 2021): 21. http://dx.doi.org/10.3390/infrastructures6020021.
Full textAbstract:
The area of dynamic planning of construction sites is unexplored. Although there is a large amount of scientific interest in the literature in dynamic planning of construction site layouts, with different methodologies developed, studies on construction site relocation do not exist. The purpose of this study is to cover this gap in the literature and contribute to the body of knowledge by presenting for the first time a dynamic planning of a construction site and its importance in linear construction projects and to validate this methodology through real case studies. The decisive variables that determine the appropriate site locations and the costs that arise from these choices are analyzed. The choice that maximizes the production rate of the construction site and thus minimizes the costs is further investigated. An algorithm has also been developed that estimates the cost of transportation of the equipment used in the project and thus enables the investigation of the “ideal” location that minimizes this cost. The “ideal” site location is examined according to the time schedule of the project at time intervals that are determined by the work progress. The optimization algorithm aims to minimize the cost that derives from non-productive activities. The validity of the proposed model is tested in four motorway projects. A sensitivity analysis concerning different sequences in the construction methods reveals remarkable changes in cost fluctuations depending on project size. The outcomes show that for the second, third, and fourth projects, dynamic planning is demanded, and the profit gained ranges from 1 to 1.5% of total budget cost. Financing expenses could be covered by this profit. The case studies presented are derived from linear infrastructure projects that are more sensitive to this approach because of their size and their budget that both affect the results.
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Melnyk, Alla. "Current challenges for regional development: threats to economic security." Herald of Ternopil National Economic University, no. 1(83) (February 22, 2017): 39–51. http://dx.doi.org/10.35774/visnyk2017.01.039.
Full textAbstract:
The article deals with current challenges for regional development and their impact as causes of threats to economic security. Economic security is seen as a complex multilevel system, the formation of which occurs at various levels of economy’s hierarchy: the state level, an economic sector, an industry (economic activity), a region, a business enterprise, a city, a town, a village, a local territorial community, a person. It is determined that a region’s internal and external environment is the key factor of its economic security. The assessment, which was carried out, enables to establish the following characteristics: structural imbalances, a gap between regional investing priorities and determined priorities, a break in the production chain, an asymmetry in technological development of regional industries, expansion of foreign companies on the domestic market, incompatibility between the system of institutions and the aims of social and economic development of regions. The research paper describes the current challenges for regional development, such as deepening of regional differences in creating tensions in regional labour markets; intensification of migration processes; growing differences in the intensity of structural changes; reducing foreign investment; institutional and fiscal decentralization; growing problems in organizing and financing social services; deepening asymmetry in the development of cross-border infrastructure, which requires a system of protection against increasing threats to economic security. A range of methodological approaches to assessing the level of economic security is generalized. A set of quantitative and qualitative indicators is suggested for evaluating the results of security assurance activities at all levels of the hierarchy: a region, a territorial community, a business enterprise, a person. The priority areas of administrative activity designed to prevent threats to economic security are identified. Given the current challenges, these priority areas include: structural reform of the economy, an increasing backbone role of state-owned entrepreneurship, inter-regional and inter-municipal cooperation, modernization of social safety in terms of personal security, strengthening safety of entrepreneurship, reinforcement of security of local communities under conditions of political, administrative, financial, fiscal, economic and environmental decentralization. The main characteristics of each area are pointed out. Further research studies are to be undertaken to empirically examine the results of these measures and identify barriers for institutional assurance of economic security.
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Rybchuk, A. V. "GLOBAL PRESENT INFRASTRUCTURE MEGAPROJECTS." Economic innovations 19, no. 2(64) (July 7, 2017): 266–72. http://dx.doi.org/10.31520/ei.2017.19.2(64).266-272.
Full textAbstract:
The article analyzes the problems of existing gap between actual investment and the implementation of infrastructure of megaprojects. The system of financial support and the mechanism of investment attractiveness of large infrastructure projects is studied.
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Grafe, Fritz-Julius, and Harald A. Mieg. "Precaution and Innovation in the Context of Wastewater Regulation: An Examination of Financial Innovation under UWWTD Disputes in London and Milan." Sustainability 13, no. 16 (August 15, 2021): 9130. http://dx.doi.org/10.3390/su13169130.
Full textAbstract:
The Water Framework Directive (WFD) under the guidance of the precautionary principle sets out standards to guarantee high quality water services for European citizens. This creates pressure on European cities to update and renew their water infrastructures in accordance with EU Law at great financial cost. Cities within the Union try to bridge this financial gap with a variety of approaches. This paper presents the cases of London and Milan, both of which were subject to legal proceedings for breaching the Urban Waste Water Treatment Directive. By example of these two cases, this article details how the precautionary principle affects urban water infrastructure provision, and how the regulation of the primary risk of pollution can both trigger innovation and create secondary risks within the highly integrated urban water infrastructure sector. The London case focusses on an individual infrastructure project and shows how its financial framing has compromised the final outcome, while the Milan case presents a longer-view perspective that shows how structural changes in the urban water infrastructure sector have enabled an environment for sustainable financial innovation. The role of transparency and good local governance practices are emphasized for a successful implementation of the precautionary principle requirements in a city’s water sector. Managing this process effectively can result in meaningful social innovation for urban water infrastructure provision.