Implications of HGV charging for the UK

Road transport taxation in Europe is undergoing a major and radical shift away from fixed charges and fuel duties towards pricing according to distance travelled and externalities produced. Implementation is underway in some states, change being led by national schemes for the freight sector only. The UK is considering such a system for implementation by 2008, to use global positioning system technology. The paper reviews the current developments and considers charging scenarios, including a scenario for covering the full external costs of the UK freight industry. Implications for taxation policy are considered, including whether the doctrine of revenue neutrality is consistent with 'sustainable mobility'. Consideration is given to a transition strategy which could bridge between the current level and structure of prices and a future, more economically efficient approach

On the electrical double layer contribution to the interfacial tension of protein crystals

We study the electrical double layer at the interface between a protein crystal and a salt solution or a dilute solution of protein, and estimate the double layer's contribution to the interfacial tension of this interface. This contribution is negative and decreases in magnitude with increasing salt concentration. We also consider briefly the interaction between a pair of protein surfaces.Comment: 6 pages, 3 figures, revtex

Self-tuning flowcharts: a priority-based approach to optimize diagnostic flowcharts

Flowcharts have been used in problem diagnosis for a long time because of their effectiveness during process representation. However, with time, diagnostic flowcharts can become unmanageably complex and incomprehensible, thus leading to longer decision paths. A lengthy decision path also implies a time consuming diagnosis process while at the same time being boring to end users utilizing systems containing diagnostic flowcharts. This study investigates the extent to which diagnostic flowcharts can be made dynamic so as to optimize the decision making process without reducing the number of nodes. In this endeavor, the Dynamic Flowchart Parser Algorithm has been proposed using a priority-based approach to optimize diagnostic flowcharts within a diagnostic tool named Self Tuning Flowcharts

Foreign Bond Markets and Financial Market Development: International Perspectives

The domestic bond markets of the Asia and Pacific region have grown considerably since the Asian financial crisis of 1997, although they remain undeveloped relative to the region's weight in the world economy. This paper proposes that in order to encourage further development of these markets, regulators should make them more accessible to foreign borrowers. To that end we offer insights into the nature and mechanics of foreign bond issuance by investigating the key characteristics of 3,132 foreign bonds issued in 14 countries (other than the United States) between July 1928 and June 2009. We found that the foreign borrowers that tap domestic markets are overwhelmingly of high credit quality and comprise sovereigns, supranationals, and major financial institutions. There is a preference for simple fixed-rate payment structures, which can then be swapped into the currency and coupon type of choice using currency and interest rate derivatives. On the whole, the long-term viability of foreign bond markets appears linked to the presence of highly liquid foreign exchange and derivatives markets that facilitate risk management and transformation, enabling regulation that facilitates cooperation with market participants, the presence of benchmark issues, and competitive pricing between alternate market segments.bond markets; financial market development; foreign bonds

Unpacking the determinants of cross-border private investment in renewable energy in developing countries

Private finance has emerged as a fundamental catalyst of the clean energy transition, an urgent and necessary step that must be taken in order to avert catastrophic climate change. Yet, private investment in renewable energy, although gaining momentum, remains limited in reaching some developing countries, where it is most needed. Previous research has provided some insights into the drivers and barriers faced by investors in this sector; however, these remain understudied in the context of developing country markets. This study contributes to this body of knowledge by systematically testing the effects that a variety of factors have on foreign investment in renewable power generation in developing countries, and by investigating how these effects may vary according to the source of finance. The determinants include the implementation of domestic renewable energy policies, the provision of international public finance and the wider business environment. Using panel data covering 62 countries over a 7-year period, this analysis relied on linear and logistic fixed effects models to determine what best explains the decision to invest and the volume of foreign private capital flows in the renewable energy sector. Results suggested that the provision of international public finance, regulatory support measures and feed-in tariffs, coupled with political stability, are strong drivers of cross-border investment in renewable energy in developing countries. Finally, evidence was presented that the effects of public interventions and business environment factors on investment may vary according to the source of finance, shedding light on the importance of breaking down investment flows to fully understand private financing decisions in renewable energy