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Doutoramento em Economia ; By focusing on the relationship between financial stability and monetary policy for the cases of Chile, Colombia, Japan, Portugal and the UK, this thesis aims to add to the existing literature on the fundamental issue of the relationship between financial stability and monetary policy, a traditional topic that gained importance in the aftermath of the GFC as Central Banks lowered policy rates in an effort to rescue their economies. As the zero-lower bound loomed and the reach of traditional monetary policy narrowed, policy makers realised that alternative frameworks were needed and hence, macroprudential policy measures aimed at targeting the financial system as a whole were introduced. The second chapter looks at the relationship between monetary policy and financial stability, which has gained importance in recent years as Central Bank policy rates neared the zero-lower bound. We use an SVAR model to study the impact of monetary policy shocks on three proxies for financial stability as well as a proxy for economic growth. Monetary policy is represented by policy rates for the EMEs and shadow rates for the AEs in our chapter. Our main results show that monetary policy may be used to correct asset mispricing, to control fluctuations in the real business cycle and also to tame credit cycles in the majority of cases. Our results also show that for the majority of cases, in line with theory, local currencies appreciate following a positive monetary policy shock. Monetary policy intervention may indeed be successful in contributing to or achieving financial stability. However, the results show that monetary policy may not have the ability to maintain or re-establish financial stability in all cases. Alternative policy choices such as macroprudential policy tool frameworks which are aimed at targeting the financial system as a whole may be implemented as a means of fortifying the economy. The third chapter looks at the institutional setting of the countries in question, the independence of the Central Bank, the political environment and the impact of these factors on financial Abstract stability. I substantiate the literature review discussion with a brief empirical analysis of the effect of Central Bank Independence on credit growth using an existing database created by Romelli (2018). The empirical results show that there is a positive relationship between credit growth and the level of Central Bank Independence (CBI) due to the positive and statistically significant coefficient on the interaction term between growth in domestic credit to the private sector and the level of CBI. When considering domestic credit by deposit money banks and other financial institutions, the interaction term is positive and statistically significant for the case of the UK for the third regression equation. A number of robustness checks show that the coefficient is positive and statistically significant for a number of cases when implementing a variety of estimation methods. Fluctuations in credit growth are larger for higher levels of CBI and hence, in periods of financial instability or ultimately financial crises, CBI would be reined back in an effort to re-establish financial stability. Based on the empirical results, and in an effort to slow down surging credit supply and to maintain financial stability, policy makers and governmental authorities should attempt to decrease the level of CBI when the economy shows signs of overheating and credit supply continues to increase. The fourth chapter looks at the interaction between macroprudential policy and financial stability. The unexpected interconnectedness of the global economy and the economic blight that occurred as a result of this, recapitulated the need to implement an alternative policy framework aimed at targeting the financial system as a whole and hence, targeting the maintenance of financial stability. In this chapter, an index of domestic macroprudential policy tools is constructed and the effectiveness of these tools in controlling credit growth, managing GDP growth and stabilising inflation growth is studied using a dynamic panel data model for the period between 2000 and 2017. The empirical analysis includes two panels namely an EU panel of 27 countries and a Latin American panel of 7 countries, the chapter also looks at a case study of Japan, Portugal and the UK. Our main results find that a tighter macroprudential policy tool stance leads to a decrease in both credit growth and GDP growth while, a tighter macroprudential policy tool stance results in higher inflation in the majority of cases. Further, we find that capital openness plays a more important role in the case of Latin America, this may be due to the region's dependence on foreign capital flows and exchange rate movements. Lastly, we find that, in times of higher perceived market volatility, GDP growth tends to be higher and inflation growth tends to be lower in the EU. In the other cases, higher levels of perceived market volatility result in higher inflation, higher credit growth and lower GDP Abstract growth. This is in line with expectations as an increase in perceived market volatility is met with an increased flow of assets into safer markets such as the EU. This thesis establishes a relationship between financial stability and monetary policy by studying the response of Chile, Colombia, Japan, Portugal and the UK in the aftermath of the GFC as Central Banks lowered policy rates in an effort to rescue their economies. In short, the results of the work conducted in this thesis may be summarised as follows. Our results show that monetary policy contributes to the achievement of financial stability. Still, monetary policy alone is not sufficient and should be reinforced by less traditional policy choices such as macroprudential policy tools. Secondly, we find that the level of CBI should be reined in in times of surging credit supply in an effort to maintain financial stability. Finally, we conclude that macroprudential policy tools play an important role in the achievement of financial stability. These tools should complement traditional monetary policy frameworks and should be adapted for each region. ; info:eu-repo/semantics/publishedVersion

Past research on foreign divestment has recognized the impact of economic and political differences1. However, the prior findings remain equivocal. We adopt the Positive Organizational Scholarship perspective to provide more contextualized insights into the effects of economic and political differences on foreign divestment. Specifically, we consider the juxtaposition of national differences and levels of firm interaction with the different contexts. Thus, we develop the concept of friction to assess levels of economic and political differences. We further argue that economic friction will have a curvilinear (U-shaped) effect on foreign divestment, whereas political friction will produce a monotonic (positive) effect. Moreover, we introduce ownership level as a moderator into the main hypotheses. Drawing on data from 2400 foreign subsidiaries of 310 Finnish multinational enterprises, from 1970–2010, we provide support for our main hypotheses, although the moderating effect of ownership levels is not supported. We further compare the effects of differences measured by friction with those measured by distance. Accordingly, our research highlights the importance of detecting specific conditions for the investigation of the impact of economic and political differences in the foreign divestment literature. ; © 2021 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/). ; fi=vertaisarvioitu|en=peerReviewed|

Publisher Copyright: © 2021 The Authors ; Millions of tonnes of plastic litter end up annually in the environment causing damage to the ecosystem. There are currently no standards regulating the amount of microplastic in wastewater, and the question is, should there be? Answering this question requires an understanding of damages microplastic causes to the environment and its removal potential from wastewater. This paper examines the cost-effectiveness of three wastewater treatment (activated sludge, rapid sand filtering and membrane bioreactor) and two sludge management technologies (anaerobic digestion and incineration), in terms of their microplastic removal capacity regarding aquatic and terrestrial ecosystems. We find removing microplastic from wastewater technically feasible and cost-effective. Membrane bioreactor with sludge incineration preventing removed microlitter from accumulating in soils is the most cost-effective option. This gives grounds for extending government regulation to microplastics in wastewater treatment plants. Policy targeting companies using microplastics in their products is, however, necessary to solve the problem ultimately. ; Peer reviewed

This research looked at the growing space that Global Citizenship Education (GCE) is gaining in educational policy worldwide, and at the role Non-Governmental Organizations (NGOs) played in GCE agenda setting and policy implementation. Based on a comparative policy analysis carried out in 10 European countries, the political agency of NGOs was explored, underlining opportunities, tensions, and challenges, especially in their contribution to national strategies to integrate GCE into national educational systems.

The domestic and international transmission mechanism of fiscal policy shocks are analysed in the United States and in Germany. Using a Bayesian VAR approach, we find that in both of these countries a fiscal expansion is associated with increases in output as well as in private consumption and investment. The terms of trade, which affect the international transmission of fiscal policy shocks, depreciate in response to a fiscal expansion, thus transferring some of the increased domestic purchasing power abroad. A US government spending shock is expansionary for all non-US G7 members. A German government spending shock is expansionary for most, but not all European economies, both within and outside the euro area. The dynamics of the BVAR can be rationalised using a dynamic stochastic general equilibrium model where heterogeneous households and firms face borrowing constraints.

Rice (Oryza sativa L.) is the major staple food in the Nepalese context. Chitwan district of Nepal was purposively selected to analyze the rice production from the socio-economic and environmental perspective. A total of 100 rice growing farmers, 50 organic and 50 inorganic were selected as the sample for the purpose of the study using the simple random method of sampling. Primary data were collected through a pre-tested semi-structure interview schedule and key informant interviews; secondary data were collected reviewing related publications. Descriptive statistics, multiple regression and chi-square test were used for data analysis. The multiple regression revealed that the four explanatory variables included in the model: age of the household head, primary occupation of the household head, number of family members involved in agriculture and subsidy in inputs for rice farming were found to have positive and statistically significant effect on rice yield (P<0.01). Moreover, chi-square test revealed that the farming practices that contributes to climate change mitigation such as: minimum tillage practice (P<0.05), crop diversification (P<0.01), green manuring (P<0.01), agro forestry practice (P<0.05), incorporating crop residues (P<0.1), weed management practice (P<0.01) and pest management practice (P<0.01)were found to be well adopted by the organic rice farmers, in contrast, the farming practices of inorganic rice farmers were statistically and significantly different in this respect. Government should make such policy that could grave the attention of the Nepalese people towards organic agriculture; moreover, encouraging them to make it their primary occupation.

This PhD thesis seeks to contribute towards closing a research gap in the knowledge about the African Union Mission in Somalia (AMISOM) as an African Union (AU) and United Nations (UN) authorised peace enforcement operation. In so doing, the study covers the period 2007-2017 and attempts to fulfil three broad objectives. Firstly, it examines the implementation of AMISOM mandate amidst foreign interventions and their underlying implications for the strategic AU-UN partnership. Secondly, the thesis attempts to examine any significant changes towards the implementation of the mandate by assessing the evolution of AMISOM's decade-long presence in Somalia. The analysis focuses on whether AMISOM has morphed into an exercise in self-interest or still pursuing the shared strategic objectives for which it was established. Thirdly, the study confronts the theoretical idea imposed by Western ideologies to export liberal democracy through peacekeeping operations, especially as it relates to regional peace operations. In a sense, it contrasts between liberalism and realism vis-à-vis peacekeeping operations in order to account for the case of AMISOM given the involvement of frontline states whose realist strategy in Somalia has presented a major dilemma. Given the latitude, the study adopts an interdisciplinary and mixed methodology approach in its analysis of foreign interventions and the pursuit of illicit commercial interests in a conflict economy milieu marked by attempts to counter al-Shabaab in Somalia. As a qualitative research, the study relies on primary and secondary data sources including relevant articles and journals, although aspects of quantitative method have also been used where appropriate. ; Esta tese de doutoramento visa contribuir para o preenchimento de uma lacuna de pesquisa no conhecimento sobre a Missão da União Africana na Somália (AMISOM), como uma operação de imposição da paz autorizada pela União Africana (UA) e endossada pelas Nações Unidas (ONU). O âmbito do estudo abrange o período 2007- 2017 e ambiciona cumprir três objetivos principais. Em primeiro lugar, examina a implementação do mandato da AMISOM no meio de intervenções estrangeiras e as suas implicações subjacentes para a parceria estratégica UA-ONU. Em segundo lugar, a tese tenta examinar quaisquer mudanças significativas em relação à implementação do mandato, avaliando a evolução da AMISOM após uma década de presença na Somália. A análise concentra-se em determinar se a AMISOM se transformou num exercício em interesse próprio ou se ainda persegue os objetivos estratégicos comuns para os quais foi estabelecida. Em terceiro lugar, o estudo confronta a ideia teórica imposta pelas ideologias ocidentais para exportar a democracia liberal por meio de operações de manutenção da paz, especialmente no que se refere as operações de paz regionais. Em certo sentido, contrasta entre liberalismo e realismo face às operações de manutenção da paz com vista a contextualizar o caso da AMISOM, dado o envolvimento dos Estados da linha da frente, cuja estratégia realista na Somália apresentou um grande dilema. Dada a latitude, o estudo adopta uma abordagem metodológica interdisciplinar e mista, na análise de intervenções estrangeiras e a prossecução de interesses comerciais ilícitos, num ambiente de economia de guerra marcado por tentativas de conter o "al-Shabaab" na Somália. Tratando-se de uma pesquisa qualitativa, o estudo baseia-se principalmente em fontes primárias e secundárias, incluindo artigos e periódicos relevantes, embora alguns aspectos do método quantitativo tenham sido também aplicados.

Funding Information: This work was supported as part of the Strategic Research Programme of the Scottish Government Rural and Environment Science and Analytical Services (RESAS) division, Theme 3: Food and Health (Work packages 3.2 and 3.3). ; Peer reviewed ; Publisher PDF

[8], 116, [2] p. ; Dedication signed: Christopher Leuer. ; The first leaf is blank except for signature-mark "A". ; With a final errata leaf. ; Heading to dedication in seven lines. Variant: heading in eight lines. ; Reproduction of the original the Union Theological Seminary (New York, N.Y.). Library.

Abstract The presence of urban green spaces (UGS) increases the human's contact with nature and provides numerous benefits to the society and the local environment. In this way, analyzing, planning and stimulating the implementation of UGS in cities is a fundamental action to improve the life quality of urban society. In this context, the aim was to analyze the situation and distribution of the green spaces of the universities cities of Lavras, Minas Gerais State (Brazil) and Newark, Delaware (USA). For data collection, researches performed field visits and used aerial photography to survey and analysis before calculating indicators including green area index (GAI) and green space ratio (GSR). The city of Lavras has a GAI of 0.54 m2 inh-1. The GSR value was 0.29%, not meeting the minimum of 5% required by local municipal law. Furthermore, there is a bad distribution of UGSs in the urban framework. However, in Newark, the distribution of UGSs is homogeneous and covers all regions of the city. The calculated GAI was 50.2 m² inh-1 and the GSR has met the 7% minimum required by its Newark Municipal Law. When comparing the two cities, in different countries and conditions it is concluded that Newark (DE) presents UGS indicators, GAI (m² inh-1) and GSR (%), higher than the values obtained in Lavras (MG), indicating the need for Government actions to increase these values.

PowerDynamics.jl is a Julia package for time-domain modeling of power grids that is specifically designed for the stability analysis of systems with high shares of renewable energies. It makes use of Julia's state-of-the-art differential equation solvers and is highly performant even for systems with a large number of components. Further, it is compatible with Julia's machine learning libraries and allows for the utilization of these methods for dynamical optimization and parameter fitting. The package comes with a number of predefined models for synchronous machines, transmission lines and inverter systems. However, the strict open-source approach and a macro-based user-interface also allows for an easy implementation of custom-built models which makes it especially interesting for the design and testing of new control strategies for distributed generation units. This paper presents how the modeling concept, implemented component models and fault scenarios have been experimentally tested against measurements in the microgrid lab of TECNALIA. ; This research has been performed using the ERIGrid Research Infrastructure and is part of a project that has received funding from the European Union's Horizon 2020 Research and Innova-tion Programme under the Grant Agreement No. 654113. The support of the European Research Infrastructure ERIGrid and its partner TECNALIA is very much appreciated. We further acknowl-edge the Support by BMBF(CoNDyNet2FK.03EK3055A), the DFG (ExSyCo-Grid, 410409736), the Leibniz competition (T42/2018) and the Federal Ministry of Economics (MAriE, FK. 03Ei4012B).

What factors might explain the cross-country variations in COVID-19 public performances and what lessons can be drawn to be better-prepared for future pandemics? This study focuses on the effects of policy stringency on COVID-19 public health outcomes to gain insights into national-level state responses to COVID-19 and the conditions for their effectiveness. Using data from 136 countries comprising 91.4% of the global population, we find that more stringent policies lead to lower infection and death rates. More importantly, the negative effects of restrictive policies on infection and death rates are moderated by political trust and democracy levels, possibly through the mechanism of popular compliance with government policies. Under conditions of higher political trust and lower democracy levels, the policy effects on infection and death rates are greater. However, while the results suggest the importance of policy stringency and political trust, we should not draw the conclusion that authoritarian political systems are more conducive to policy effectiveness. When comparing the moderating effects of political trust and democracy, political trust is more important as a facilitating factor. Therefore, in addition to making scientifically-supported policies, fostering political trust should be an important goal for governments to be better prepared for future pandemics.

Strategic spatial planning (SSP) has been a key planning practice supporting spatial transformation globally. However, designing and implementing strategic spatial plans is a complex task. The process involves prioritizing planning intentions, establishing funding mechanisms and structuring governance settings, which take shape within power configurations. It is within this complexity that a participatory and integrative planning approach assume increasingly importance when addressing, strategically, societal challenges such as spatial injustice. Furthermore, a consolidated planning practice – that is the experiences in dealing with SSP are thought to influence how strategic plans are prepared and executed. Bearing in mind the influential role of preceding experiences in SSP processes as well as of participation, project promotion and policy integration, this paper synthesises the results of a literature review reflecting three decades of SSP (1990-2020) in England. England has a well-defined history of engagements with SSP. The purpose is to discuss lessons learned from looking back thirty years and debate suggestions for how to design future SSP that account for public and private interests and align cross-sectoral policies. To overcome democratic accountability constraints and steering resource management effectively, this review pleas for more cooperative central–local relationships in shaping future SSP processes in England and beyond.

Strategic spatial planning (SSP) has been a key planning practice supporting spatial transformation globally. However, designing and implementing strategic spatial plans is a complex task. The process involves prioritizing planning intentions, establishing funding mechanisms and structuring governance settings, which take shape within power configurations. It is within this complexity that a participatory and integrative planning approach assume increasingly importance when addressing, strategically, societal challenges such as spatial injustice. Furthermore, a consolidated planning practice – that is the experiences in dealing with SSP are thought to influence how strategic plans are prepared and executed. Bearing in mind the influential role of preceding experiences in SSP processes as well as of participation, project promotion and policy integration, this paper synthesises the results of a literature review reflecting three decades of SSP (1990-2020) in England. England has a well-defined history of engagements with SSP. The purpose is to discuss lessons learned from looking back thirty years and debate suggestions for how to design future SSP that account for public and private interests and align cross-sectoral policies. To overcome democratic accountability constraints and steering resource management effectively, this review pleas for more cooperative central–local relationships in shaping future SSP processes in England and beyond.

International audience ; The aim of this article is to propose an articulation between the so-called French discourse analysis and the notions of intersectionality and decoloniality that are currently at work in the human and social sciences in France. It describes the conditions of an alternative epistemology capable of decentring knowledge and intellectual technologies of the discipline, and suggests ways of reworking its theoretical apparatus in order to take into account in linguistic analysis the conditions of existence of subjects and their journeys from one world to another within a pluriverse framework. We first define the chosen version of intersectionality and the decolonial perspective, showing what they can bring to discourse analysis as an enriching and emancipating perspective. We then specify the contours of an alternative epistemology, on the level of knowledge and methods, by insisting on the questions of the points of view and experiences of the subjects, and on the scientific as well as political choice of references and quotations. Finally, we propose the notion of coloniality of discourse, which allows us to rework in an intersectional decolonial dimension the questions of denomination and subjectivity. ; L'objectif de cet article est de proposer une articulation entre l'analyse du discours dite française et les notions d'intersectionnalité et de décolonialité qui travaillent actuellement les sciences humaines et sociales en France. Il décrit les conditions d'une épistémologie alternative apte à décentrer les savoirs et les technologies intellectuelles de la discipline, et suggère des manières de retravailler son appareillage théorique pour prendre en compte dans l'analyse linguistique les conditions d'existence des sujets et leurs voyages d'un monde à l'autre dans le cadre d'un plurivers. On définit d'abord la version de l'intersectionnalité choisie et la perspective décoloniale, en montrant ce qu'elles peuvent apporter à l'analyse du discours comme perspective enrichissante et ...