1,360 research outputs found

    Digital Transformation

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    The amount of literature on Digital Transformation is staggering—and it keeps growing. Why, then, come out with yet another such document? Moreover, any text aiming at explaining the Digital Transformation by presenting a snapshot is going to become obsolete in a blink of an eye, most likely to be already obsolete at the time it is first published. The FDC Initiative on Digital Reality felt there is a need to look at the Digital Transformation from the point of view of a profound change that is pervading the entire society—a change made possible by technology and that keeps changing due to technology evolution opening new possibilities but is also a change happening because it has strong economic reasons. The direction of this change is not easy to predict because it is steered by a cultural evolution of society, an evolution that is happening in niches and that may expand rapidly to larger constituencies and as rapidly may fade away. This creation, selection by experimentation, adoption, and sudden disappearance, is what makes the whole scenario so unpredictable and continuously changing.The amount of literature on Digital Transformation is staggering—and it keeps growing. Why, then, come out with yet another such document? Moreover, any text aiming at explaining the Digital Transformation by presenting a snapshot is going to become obsolete in a blink of an eye, most likely to be already obsolete at the time it is first published. The FDC Initiative on Digital Reality felt there is a need to look at the Digital Transformation from the point of view of a profound change that is pervading the entire society—a change made possible by technology and that keeps changing due to technology evolution opening new possibilities but is also a change happening because it has strong economic reasons. The direction of this change is not easy to predict because it is steered by a cultural evolution of society, an evolution that is happening in niches and that may expand rapidly to larger constituencies and as rapidly may fade away. This creation, selection by experimentation, adoption, and sudden disappearance, is what makes the whole scenario so unpredictable and continuously changing

    Liberalisation of capital controls: A review of South African exchange controls and their impact on exchange rate stability

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    The 2007/08 global financial crisis, including pre- and post-crisis reform, led economies to reexamine the concept of capital controls. Theoretical and empirical literature has been divided regarding their effectiveness. This research paper assesses the impact of capital controls on exchange rate stability in South Africa (particularly exchange restrictions used to insulate economies from excessive currency volatility) using time-series analysis and employs event study methodology (Kothari & Warner, 2006; MacKinlay, 1997) to measure the impact of the capital control actions. More specifically, this research paper evaluates the impact of capital controls on (a) exchange rate returns, (b) volatility and (c) liquidity in South Africa for the period commencing 1 January 1999 to 31 December 2014 including the period during the 2007/08 financial crisis. The research paper applies methodology from empirical research on capital controls and currency stability (Pandey, Pasricha, Patnaik, & Shah, 2015), volatility using standard deviation and the GARCH (1,1) model (Abdalla, 2012; Bollerslev, 1986; Farrell, 2001) and liquidity (Karnaukh, Ranaldo, & Söderlind, 2015). In addition, it attempts to determine the effect on exchange rate movements directly attributable to capital controls i.e., the local factors, by removing the dollar risk factor that constitute a significant portion of exchange rate time series as noted by Verdelhan (2015), which serves as the base model for the event study. The research paper finds that overall the key capital controls selected do not have a significant impact on the ZAR/USD exchange rate with limited evidence of an effect on returns, volatility and liquidity

    Workshop proceedings: Information Systems for Space Astrophysics in the 21st Century, volume 1

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    The Astrophysical Information Systems Workshop was one of the three Integrated Technology Planning workshops. Its objectives were to develop an understanding of future mission requirements for information systems, the potential role of technology in meeting these requirements, and the areas in which NASA investment might have the greatest impact. Workshop participants were briefed on the astrophysical mission set with an emphasis on those missions that drive information systems technology, the existing NASA space-science operations infrastructure, and the ongoing and planned NASA information systems technology programs. Program plans and recommendations were prepared in five technical areas: Mission Planning and Operations; Space-Borne Data Processing; Space-to-Earth Communications; Science Data Systems; and Data Analysis, Integration, and Visualization

    The Quest for Stability: the macro view

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    On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.asset prices, bubbles, financial institutions, global recession, interest rates, liquidity, monetary policy, regulation, stability, supervision.

    A Political Economy of Access: Infrastructure, Networks, Cities, and Institutions

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    Why should you read another book about transport and land use? This book differs in that we won’t focus on empirical arguments – we present political arguments. We argue the political aspects of transport policy shouldn’t be assumed away or treated as a nuisance. Political choices are the core reasons our cities look and function the way they do. There is no original sin that we can undo that will lead to utopian visions of urban life. The book begins by introducing and expanding on the idea of Accessibility. Then we proceed through several major parts: Infrastructure Preservation, Network Expansion, Cities, and Institutions. Infrastructure preservation concerns the relatively short-run issues of how to maintain and operate the existing surface transport system (roads and transit). Network expansion in contrast is a long-run problem, how to enlarge the network, or rather, why enlarging the network is now so difficult. Cities examines how we organize, regulate, and expand our cities to address the failures of transport policy, and falls into the time-frame of the very long-run, as property rights and land uses are often stickier than the concrete of the network is durable. In the part on Institutions we consider things that might at first blush appear to be short-run and malleable, are in fact very long-run. Institutions seem to outlast the infrastructure they manage. Many of the transport and land use problems we want to solve already have technical solutions. What these problems don’t have, and what we hope to contribute, are political solutions. We expect the audience for this book to be practitioners, planners, engineers, advocates, urbanists, students of transport, and fellow academics

    Re-use : international working seminar : proceedings, 2nd, March 1-3, 1999

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    Re-use : international working seminar : proceedings, 2nd, March 1-3, 1999

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    From Crisis to Recovery in Korea: Strategy, Achievements, and Lessons

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    Native tree species based afforestation/reforestation for carbon sequestration: contributions to sustainable development through clean development mechanisms in Ethiopia

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    The daunting tasks of responding to climate change and ensuring sustainable development (SD) are high on the political agenda among world leaders. From the onset, the clean development mechanisms (CDM) outlined in Article 12 of the Kyoto Protocol (KP), state that CDM activities should contribute to SD in the host country while reducing greenhouse gas (GHG) emission. Nevertheless, many scholars have criticized CDM for failing to deliver on its twin objectives. In Ethiopia in particular, there was lack of afforestation/reforestation (A/R) CDM research specific to the nation; specifically, research as to whether A/R-CDM met the stipulated twin objectives of SD and mitigation (reducing GHG). This study was conducted in the Humbo district of Wolyaita Zone, Southern Nations - Nationality and People Regional (SNNPR) state of Ethiopia, where A/R-CDM was implemented in pursuit of these twin objectives. Humbo is located between 6°46’48.47 and 6°41’04.28N; and between 37°48’35.44 and 37° 55’14.51E, between altitudinal gradients 1200 and 1900 m.a.s.l. The climate of the study area is characterized by annual temperatures between 25°C and 28°C, and by total annual rainfall between 800 to 1000 mm. The objectives of the study were to quantify the change of above ground and below ground carbon pools of native tree species; to assess the attractiveness of FMNR forestry practices; to examine A/R-CDM contributions to community level SD; and to assess the effectiveness of climate change mitigation policy founded on native tree species-based A/R-CDM. Data regarding above ground biomass (AGB) and below ground biomass (BGB) carbon pools of native tree species was collected through non-destructive techniques to quantify the change in carbon sequestration and associated carbon trading. A multi-stage random cluster household (HH) sampling approach was used to assess the attractiveness of farmer managed natural regeneration (FMNR) forestry practice. To examine the contribution of A/R-CDM to community level SD, three dimensions of SD were evaluated, namely; (local) environmental, social, and economic. Two indicators were considered per each dimension. With regard to local environmental SD, community access to natural resources, as well as changes to the local climate were considered. With regard to the social dimension, job creation and changes to social support structures were considered. With regard to the economic dimension, economic activities of the area and local skill development were considered. Focus group discussions and key informant interviews were used to triangulate the survey as well as to assess policy perspectives. Results revealed that the Humbo native tree species based A/R-CDM, which employed FMNR forestry practices, sequestered a net total of 73,138; 84,848; 103,769 and 111,657 tCO2e along 2011, 2014, 2015 and 2016 years, respectively, across 2,728 ha. In terms of carbon leakage due to fuel wood collection activity displacement, a net zero was found since the average volume of fuelwood collected from the project area, after the area was closed off, was found to be 5.1 - 6.1 M3, while before the area was closed off, that number was 4.3 M3. This was due to the project employing FMNR forestry practices. Similarly, the leakage due to livestock grazing activity displacement also was found to be a net zero, since the number of animals grazing on land adjacent to the project area after four years of the area’s being closed off reached 11,383 cattle, 429 donkeys and 4,108 goats, unlike 8,684 cattle and 2,288 goats before the project. In other words, the number of livestock owned by farmers on the land adjacent to the project site was not adversely affected by the closing off of the site, which prevented grazing on the area allocated to A/R-CDM. The livestock management training provided by project developer improved the farmers’ rearing efficiency. Another expected leakage due to soil pitting for A/R was also found to be nil since soil disturbance did not take place because of FMNR practices. These results indicated that systematic regeneration of native tree species through FMNR forestry practices is an effective method to develop carbon sinks. From the point of view of FMNR attractiveness, the results revealed that the practice improved land cover change. The use of FMNR avoided the projected eight years reforestation investment cost of US2,751,312.00whichcouldhavebeenusedifplantationforestrywasundertaken.ThisshowedthatHumboA/RCDMmightnothavehappenedifFMNRishadnotbeenintroduced,asCDMhasnoprefinancemechanism.WithregardtocommunitylevelSDcontributions,theestablishmentofforestprotectionanddevelopmentfarmerscooperatives,aswellasthegrantingofcommunallanduserrightscertification,resultedinlegalownershipofthelandtothecommunity,whereasbefore,thelandwasconsiderednomansland,andsubjecttoopenaccess.Thelanduserrightsandcarbonownershipinturnempoweredthecommunitytosignacontractwithaninternationalcarboncreditbuyer.Intermsofthelocalmicroclimate,theregenerationofnativetreespecieswascorrelatedwithincreasedrainfallintheareainJune,July,AugustandSeptember(JJAS)andMarch,AprilandMay(MAM).ThissuggestedthatthenativetreespeciesbasedA/RCDMprojectplayedaroleinimprovingthelocalmicroclimate.IntermsofsociologicalSD,thestudyshowedthatnewemploymentopportunitieswerecreatedincludingtreepruning,thinning,forestguarding,andjobsatthecommunitywarehouseandcommunityflourmill.TheavailabilityofemploymentopportunitieswassignificantlyhigherforthosewhoparticipatedintheHumboA/RCDM,whencomparedtothosewhodidnt.Intermsofsocialsupportstructures,inlessthantenyears,sevenHumboA/RCDMprojectownerfarmerscooperatives,initiallyestablishedasownersoftheproject,evolvedintooneforestprotectionanddevelopmentUnion.Thisenabledtheinstitutionalizationofgrassrootsorganizationstowardsacommoncommunalandinternationalagendaofcarefortheenvironment.Intermsofeconomiceffects,theprojectenabledacarboncreditcontractworthatotalofUS 2,751,312.00 which could have been used if plantation forestry was undertaken. This showed that Humbo A/R-CDM might not have happened if FMNR is had not been introduced, as CDM has no pre-finance mechanism. With regard to community level SD contributions, the establishment of forest protection and development farmers’ cooperatives, as well as the granting of communal land-user rights certification, resulted in legal ownership of the land to the community, whereas before, the land was considered “no man’s land,” and subject to open access. The land-user rights and carbon ownership in turn empowered the community to sign a contract with an international carbon credit buyer. In terms of the local microclimate, the regeneration of native tree species was correlated with increased rainfall in the area in June, July, August and September (JJAS) and March, April and May (MAM). This suggested that the native tree species based A/R-CDM project played a role in improving the local microclimate. In terms of sociological SD, the study showed that new employment opportunities were created including tree pruning, thinning, forest guarding, and jobs at the community warehouse and community flourmill. The availability of employment opportunities was significantly higher for those who participated in the Humbo A/R-CDM, when compared to those who didn’t. In terms of social support structures, in less than ten years, seven Humbo A/R-CDM project owner farmers’ cooperatives, initially established as owners of the project, evolved into one forest protection and development Union. This enabled the institutionalization of grassroots organizations towards a common communal and international agenda of care for the environment. In terms of economic effects, the project enabled a carbon credit contract worth a total of US 3,873,298.00, signed at the sell rate of US4.4pertCO2e,foratotalof880,295tCO2eacrossa30yearcreditingperiod.Thisisanewbusinessmodelforthecommunity,thecountry,andglobalbusinesses,alldoingtheirpartinclimatechangemitigationCDM.AsofthefirstA/RCDMverification,thecommunityreceivedatotalofUS 4.4 per tCO2e, for a total of 880,295 tCO2e across a 30 year crediting period. This is a new business model for the community, the country, and global businesses, all doing their part in climate change mitigation - CDM. As of the first A/R-CDM verification, the community received a total of US 321,807.2 in 2011. Consequently, the community received 373,331.2 in 2014, 456,583.6 in 2015 and 491,290.8 in 2016. In terms of revenue from logging, selective harvesting is planned to take place in years 12, 24 and 36. The community is projected to earn at least US15,150.00perha1(atotalofUS 15,150.00 per ha1 (a total of US 3.9 million) from the first forest harvest in year 12 alone. These benefits in emission reduction (ER) and SD suggest that massive cross-dimensional benefits were foregone due to the country’s refusal to welcome A/R-CDM in its first commitment period, despite having 36,434,400 ha of land eligible for A/R. The research results in the area of policy perspectives indicated that the Humbo A/R-CDM project, the only one of its kind in Ethiopia, was made possible by environment related constitutional provisions, especially those pertaining to land-user rights, and the existence of a nationally standardized definition of forest that complies with international range. Additionally, the timely ratification of the Kyoto Protocol (KP), the establishment of a designated national authority (DNA) and a letter of approval by the DNA to the project developer were found to be enablers. Yet, defining land use, clarifying carbon ownership rights and bringing an inclusive benefit sharing mechanism for forest carbon are among the key instruments the country has yet to put in place to prove local readiness for such development opportunities. The Humbo A/R-CDM also undertook voluntary assessments to obtain additional certification in the form of the Climate Community Biodiversity (CCB) certification, and was certified to be of gold standard for its premium. However, there were no benefits to the host community and project developer from the CCB gold standard certification. Such ambiguity could have been cleared from the onset. This implied whenever going for market and/or result based climate change mitigation, it is necessary to understand the provisions. This study revealed that the Humbo native tree species-based A/R-CDM via FMNR forestry practices met the CDM twin objectives as specified in Article 12 of the KP in 1997, namely the double aims of achieving mitigations of GHG emissions and assisting developing countries inSD. Yet, more research is needed to understand all eligible A/R carbon pools sequestered at Humbo A/R-CDM site.Environmental SciencesPh. D. (Environmental Management

    Indexing for moving objects

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