The effect of privatization on economic growth in the Middle East and North Africa Region The case of Egypt, Jordan, Morocco, Tunisia and Turkey (Panel Data Analysis)

More than fifteen years have been passed since the application of privatization programs in the Middle East and North Africa region (MENA). One of the most important objectives of privatization in these countries was to enhance economic development. This paper aims at studying the effect of privatization process on economic development in MENA region. The sample of the study concludes data collected from the five most committed and advanced countries in applying privatization policies in the region: (Egypt, Jordan, Morocco, Tunisia and Turkey). Panel Data Analysis has been employed in order to study the statistical relationship between privatization and economic growth. The descriptive statistics indicate that privatization in MENA countries was accompanied by a growth in the levels of foreign direct investment during the period (1990-2008). The empirical evidence from Pedroni and Kao residual co-integration tests show no possible long run relationship between privatization which is represented by foreign direct investment on economic development represented by the logarithm of GDP per capita. A clear statistical relationship in MENA region between privatization and economic development couldn’t be established.   JEL: O53, L33, F63, C23 Key Words: MENA Region, Privatization, Economic Development, Panel Data Analysis

Macroeconomic Evaluation of Privatization in Jordan (1998-2011) Theoretical, Descriptive and Empirical Analysis

It has been fifteen years since Jordan started privatizing its public sector in 1998. Several articles[1] have been carried out to study privatization in microeconomic level in particular the efficiency of Privatized Firms in Jordan. One important motivation for privatization in Jordan is to help develop the economy by boosting GDP growth rates. This study provides a descriptive, and empirical analysis of Jordan's Privatization process. It tries to investigate the effect of Privatization in Jordan on several macroeconomic indicators such as economic growth, public debt, unemployment rate, foreign direct Investment and financial development. The results from Engle Granger Method of cointegration show no significant evidences have been found between  privatization and some of these macroeconomic variables which are integrated from the same level. However, privatization in Jordan was found to be accompanied by a growth in the levels of inflation rates and foreign direct investments during the period of study. Privatization in Jordan exercises its positive effects on the growth of GDP indirectly via its positive impact on the foreign direct investment. Keywords: Privatization, Jordanian economy, macroeconomic impacts of privatization, Granger Method of cointegration. [1] Khrisat, Khasawneh & Al-Waked (2012), Hassoneh, Ershaida, Mobaydeen & Rezq ( 2010), Bdour, Qaqish & Ta'ani (2007) and Al-Tarawneh (1999)

The Long Run Effects of Oil Prices on Economic Growth: The Case of Saudi Arabia

This paper studies the long run effects of oil price growth rates (OS) on the economic growth of the Kingdom of Saudi Arabia (KSA). The empirical results of an ARDL model find a strong positive direct impact of OS on the GDP growth rates of KSA during the period 1995Q4-2015Q4. Despite the fact that China is the most important trading partner of KSA, OS doesn't affect indirectly Saudi GDP growth rates. OS weakens the positive long run effect exercised on the GDP growth rates of KSA via trading with Japan. Although trading with South Korea and UK have negative significant effects on the Saudi GDP growth rates, OS has no possible indirect effect via trading with UK. But, it has a positive effect on the weighted GDP growth rates of S. Korea via trading with KSA. Trading with USA, India, Canada, France and Germany have no significant impacts on Saudi economy. Keywords: Saudi Arabia, Economic growth, Oil price effect, Autoregressive distributed lags model. JEL Classifications: O53, O40, C2

The Optimal Time to Privatize Oil Public Sector in Saudi Arabia

Based on Jiahua Che dynamic model of privatization (2007) and the experience of privatizing the Mexican petroleum company (Pemex) in 2013, this paper tries to answer this question: Is it time to privatize Aramco?  The paper concludes that Aramco will not be privatized, at least during the year 2018, due to the Saudi budget dependence on oil, low level of private property rights, lack of transparency and absence of financial disclosure. Keywords: Saudi Arabia economy, Privatization, Government ownership, Private ownership. JEL Classifications: O53, L33, L2

A Comparative Study of Optimal Energy Management Strategies for Energy Storage with Stochastic Loads

This paper aims to present the significance of predicting stochastic loads to improve the performance of a low voltage (LV) network with an energy storage system (ESS) by employing several optimal energy controllers. Considering the highly stochastic behaviour that rubber tyre gantry (RTG) cranes demand, this study develops and compares optimal energy controllers based on a model predictive controller (MPC) with a rolling point forecast model and a stochastic model predictive controller (SMPC) based on a stochastic prediction demand model as potentially suitable approaches to minimise the impact of the demand uncertainty. The proposed MPC and SMPC control models are compared to an optimal energy controller with perfect and fixed load forecast profiles and a standard set-point controller. The results show that the optimal controllers, which utilise a load forecast, improve peak reduction and cost savings of the storage device compared to the traditional control algorithm. Further improvements are presented for the receding horizon controllers, MPC and SMPC, which better handle the volatility of the crane demand. Furthermore, a computational cost analysis for optimal controllers is presented to evaluate the complexity for a practical implementation of the predictive optimal control systems

Modern optimal controllers for hybrid active power filter to minimize harmonic distortion

Nowadays, AC distributed power networks are facing many challenges in guaranteeing and improving the required level of power quality indices in power networks with increasing nonlinear, time-variable and unbalanced loads. Power networks can benefit from avoiding and minimizing different AC problems, such as frequency fluctuation and Total Harmonic Distortions (THDs), by using power filters, such as Hybrid Active Power Filters (HAPFs). Therefore, attention towards responsible power quality indices, such as Total Harmonic Distortion (THD), Power Factor (P.F) and Harmonic Pollution (HP) has increased. THD and HP are important indices to show the level of power quality at the network. In this paper, modern optimization techniques have been employed to optimize HAPF parameters, and minimize HP, by using a nature-inspired optimization algorithm, namely, Whale Optimization Algorithm (WOA). The WOA algorithm is compared to the most competitive powerful metaheuristic optimization algorithms: Manta Ray Foraging Optimization (MRFO), Artificial Ecosystem-based Optimization (AEO) and Golden Ratio Optimization Method (GROM). In addition, the WOA, and the proposed modern optimization algorithms, are compared to the most competitive metaheuristic optimization algorithm for HAPF from the literature, called L-SHADE. The comparison results show that the WOA algorithm outperformed all other optimization algorithms, in terms of minimizing harmonic pollution, through optimizing parameters of HAPF; therefore, this paper aims to present the WOA as a powerful control model for HAPF

Wrinkling Prediction in Deep Drawing by Using Response Surface Methodology and Artificial Neural Network

The objective of this study is to predict influences of tooling parameters such as die and punch radius, blank holder force and friction coefficient between the die and the blank surfaces in a deep drawing process on the wrinkling height in aluminium AA5754 by using the response surface methodology (RSM) and an artificial neural network (ANN). The 3D finite element method (FEM), i.e. the Abaqus software, is employed to model the deep drawing process. In order to investigate the accuracy of this model, the results are compared with experimental results. The data derived from the FEM are used for modelling the RSM and training an ANN. Finally, the RSM and ANN outputs are compared so as to select the best model. The results of the two methods are promising and it is found that the ANN results are more accurate than the RSM results

Reliability estimate for university Scores in a sample of courses in Princess Norah Bint Abdulrahman University in light of some of the variables

Reliability estimate for university Scores in a sample of courses in Princess Norah Bint Abdulrahman University in light of some of the variables. The study aimed to estimate the relaiability of the university Scores in the sample of the courses at the University of Princess Noura Abdul Rahman for girl. The sample of the study consisted of scores in (96) of the courses presented in the first semester of the academic year 2014/2015. The Courses were selected randomly cluster which comprises in the three sections in the Colleges of Education, Science, Computer and information, and business and management. To estimate the relaiability the researcher applied Raju equation. The results of the analysis indicated the low reliability coefficients in general were the average for the consistency estimates (0.67). The results indicated that (47.92%) of the courses acceptable reliability which are increases reliability coefficient for her (0.70). The scores in College of Education tends to be less reliability in the average compared to other colleges. The results of the chi - square test of independence were existence of a relationship between the degree of reliability of the Courses and the level of Courses, and there is no relationship between the degree of reliability of the Courses and the college to which they belong. The study recommended the need to reduce the negative effects of the problem of apparent disparity in the practices of faculty members in the grades awarded to students at various colleges in the university departments, which reflected negatively on the reliability

INVESTIGATING ALUMINIUM SHEET WRINKLING DURING THE DEEP DRAWING PROCESS

The purpose of this study is to consider the effect of different parameters on the wrinkling phenomenon of square cups during the deep drawing process. An experimental system was prepared which consisted of a hydraulic press capable of applying different loads on the sheet metal blank and a blank holder and the process was controlled by a computer. All simulations were performed by using the ABAQUS/EXPLICIT V6.9 software, and the effect of different aluminium alloys, punch and die radius, blank holder force, blank holder gap, and friction coefficient on the wrinkling phenomenon has been investigated. Moreover, the minimal blank holder force was obtained by plotting minor strain with respect to the major strain of produced cups, and obtaining the maximum height of wrinkle in a cup. The wrinkling phenomenon was further investigated on different alloys such as A6111-T4, AA5754-O and Al-1050. The results imply that increasing the blank holder force and friction coefficient on the one hand and reducing the blank holder gap, punch radius, and die radius on the other hand, may lead to a reduction in wrinkling during the deep drawing process. Nevertheless, under the same circumstances of the deep drawing process, the wrinkling of the A6111-T4 alloy is more significant compared to the Al-1050 and AA5754-O alloys, while the Al-1050 alloy needs less blank holder force to avoid wrinkling. Using this simulation program it is possible to easily simulate the wrinkling of sheet metal blanks with the least number of trial and error