Era Of Deregulation Research Articles

Bank Diversification, Competition and Earnings Opacity

The paper explores the impact of bank diversification on earnings opacity. We aim at offering a comprehensive analysis by focusing on four dimensions of diversification: income, assets, funding, and loan portfolios. Using data from Vietnam over the period 2007–2022, we document consistent and robust evidence that increased diversification across all forms mitigates earnings management via discretionary loan loss provisions. To shed further light on this pattern, we examine how the banking complexity and opacity nexus varies with multiple measures of bank competition. We find that more intense competition in the banking system likely accentuates the impact of diversification on bank earnings manipulations. Our findings provide important implications related to bank business models and banking market structures in the era of financial deregulation and innovation.

Book review: After Redlining: The Urban Reinvestment Movement in the Era of Financial Deregulation

Book review: After Redlining: The Urban Reinvestment Movement in the Era of Financial Deregulation

After Redlining: The Urban Reinvestment Movement in the Era of Financial Deregulation

After Redlining: The Urban Reinvestment Movement in the Era of Financial Deregulation

Review of Different Methods for Siting and Sizing Distributed Generator

Distributed generator has been confirmed to be a means by which installation of a new centralized generator can be delayed or postponed in the era of deregulation. It helps to minimize line losses and improve voltage profile. the benefits associated with distributed generator can be greatly harnessed when DG is optimally sited and sized within power system network. In this study, different methods used by previous researchers were extensively reviewed. The summary of the methodologies from previous works were itemized one after the other. This was done under the impact of distributed generator in a network. These methodologies are summaries under three categories namely; analytical, meta-heuristic and hybrid optimization methods. All the methods are based on solving non-linear load flow solution except the Inherent Structural Network Topology. In this review work, the inherent structural network topology is recommended for further studies to solve power system problems.

The coming financial crisis

ABSTRACT The 2007–2008 international financial crisis was the worst since the 1929 Wall Street Crash – triggering the 1930s Great Depression, the rise of fascism and Hitler in Europe, and the Second World War. In the 1930s there were reforms to tackle the causes – particularly in the US with Roosevelt’s New Deal – including splitting banks’ ‘casino’ from ‘high street’ operations, and strengthening trade union rights. Following the Second World War, there were global reforms, including exchange controls to prevent cross-border financial speculation. But in the post-1980s era of privatisation and deregulation, these reforms were lobbied against and generally abandoned. The resulting speculative orgy, accompanied inevitably by increased inequality, led to the 2007–2008 international financial crisis. Reforms were promised, including increasing the degree of corporate diversity in the financial services sector, and creating ‘resolution’ plans for banks to prevent their collapse. However, the promised reforms regarding corporate diversity were reneged upon. Resolution plans were adopted in the UK, but in Europe this is being driven in a way that will strengthen the power of finance that created the problem in the first place. And the UK Government wants the regulator to promote the ‘competitiveness’ of financial services, which was tried before, and didn’t end well.

A Review on Automated Techniques for Fault Location in HVDC Systems

Abstract—In the present era of deregulation and competition, demand from every energy supplier is to have good continuity, dependability and reliability. Fault location can play a vital role in achieving this aim. As uninterrupted power supply is the prime demand by all consumers. However, faults in power system will leads to the interruption in power supply and it will make system vulnerable towards system outrage/collapsing and will lead to damage various electrical peripheral of switch gear/ electrical equipment.Hence all faults are required to be detected and clear as soon as possible to restart power supply to consumer. Having accuracy knowledge of fault location will come very handy in reducing system outrage time and they’re by improving continuity and reliability of system. Variousresearches has been done previously towards finding accurate result. In this paper presents a comprehensive survey on the existing work done in the domain of machine learning assisted fault location in HVDC systems. Keywords: HVDC, Fault Location, Machine Learning, Mean Square Error, Accurayc,

The Role of Retrospective Analysis in an Era of Deregulation: Lessons from the U.S. Mercury and Air Toxic Standards

As of late 2020, the Trump administration had initiated almost one hundred rollbacks of U.S. environmental regulations. A careful assessment of the benefits and costs of rolling back an existing regulation can and should inform such decisions. When assessing the potential rollback of an existing regulation, analysts can often learn from the regulation’s implementation through retrospective analysis as well as from advances in scientific knowledge. We discuss recent actions concerning the Mercury and Air Toxics Standards (MATS) to illustrate the potential lessons from doing so. In the case of MATS, advances in science have shed light on broader exposure pathways and previously unquantified health effects, suggesting that the benefits of reducing mercury emissions may exceed previous estimates. At the same time, changes in the energy sector have altered the mix of fuels used to produce electricity, which impacts both the benefits and costs of the regulation.

Environmental Justice Ethnography in the Classroom: Teaching Activism, Inspiring Involvement

In this era of industry deregulation, gutting of environmental protections, and science denial, environmental justice applied anthropology is more important than ever. There is growing ethnographic research into the ways people organize themselves and take action to protect their families and communities from toxins while demanding accountability from polluting industries and the state. When students encounter this literature in university curricula and when service-learning projects are part of coursework, the experiences they gain can inform their personal lives long after the semester ends. Five anthropologists share experiences teaching environmental justice ethnography courses. Their pedagogy addresses critical questions of ethical research and student positionality.

The Role of Retrospective Analysis in an Era of Deregulation: Lessons from the US Mercury and Air Toxics Standards

As of late 2020, the Trump administration had initiated almost 100 rollbacks of US environmental regulations. A careful assessment of the benefits and costs of rolling back an existing regulation can and should inform such decisions. When assessing the potential rollback of an existing regulation, analysts can often learn from the regulation’s implementation through retrospective analysis as well as from advances in scientific knowledge. We discuss recent actions concerning the Mercury and Air Toxics Standards (MATS) to illustrate the potential lessons from doing so. In the case of MATS, advances in science have shed light on broader exposure pathways and previously unquantified health effects, suggesting that the benefits of reducing mercury emissions may exceed previous estimates. At the same time, changes in the energy sector have altered the mix of fuels used to produce electricity, which impacts both the benefits and the costs of the regulation.

U.S. College Students’ Marijuana Information Sources, Confidence in Knowledge, and Objective Knowledge

In recent years, marijuana use on U.S. college campuses reached the highest point while the perceptions of risk and social disapproval registered the lowest since the early 1980s. However, little attention has been paid to the sources of the marijuana-related messages and their relationships with marijuana knowledge and confidence in knowledge, proximate protective/risk factors. To fill this gap, a convenience sample of students (N = 249) on a campus located in a U.S. recreational marijuana legal state were surveyed to identify their marijuana information sources and explore the relationships among the sources, confidence in marijuana knowledge, and objective knowledge. Peers/media were the most important sources and they were used more than other sources. Use of peers/media sources was related to lower health knowledge and higher confidence in knowledge. Although students named parents and education/science sources as important, these were less frequently used than siblings, the sources they named as the least important. This study advanced our understanding of the various sources of marijuana information used by U.S. college students and the relationships between the information sources and confidence in knowledge and objective knowledge, two emerging risk/protective factors in the era of marijuana deregulation.

State Financial System in Indonesia: Some Recent Developments

The history of the development of the Indonesian financial system, the system of financial institutions underwent a very fundamental change, especially after entering the era of deregulation, the policy package October 27, 1988 which then continued with the enactment of several laws in the field of finance and banking since 1992, starting from the Banking Act, Act Insurance Act, Pension Fund Act, Capital Market Law, until the Bank Indonesia Law. The consequence of the issuance of this law is the change in the structure of the financial institutions in Indonesia. In addition, from the aspect of regulation and fostering, financial institutions are becoming increasingly clear and strong because they already have legal power, especially in the field of insurance and pension funds, which were previously legally regulated only on financial ministerial decisions. This paper analyzes the latest developments in the country's financial system in Indonesia. This paper aims to provide an overview, study, and compare about the developing financial system in Indonesia with several cases of existing financial systems both domestically and abroad. This paper also uses a comparative model of laws, where these laws relate directly or indirectly to the country's financial system.

Measurement Current Transformer Error Compensation by ANN Methodology

Measurement current transformers (MCTs) are an important component in the measurement of electric power. In this era of deregulation, every power distribution company strives for maximum revenue. It could be possible if the errors present in MCTs are reduced. Maharashtra State Electricity Distribution Company (MSEDCL) is one of the power distribution utility in India interested to resolve its problems regarding MCT error compensation. In this article, the MCT error compensation problem was tackled for various operating conditions. These conditions include metrological properties of core, transformation ratio, burden, remanent flux and nature and quantum of load connected on the primary side of MCT. The MCT secondary side waveform is analyzed for various operating conditions, and from these data, the artificial neural network (ANN) is trained. Implementation of the compensation system and data acquisition is done using dSPACE 1104 software. Experimentation is performed in MSEDCL laboratory, and test results demonstrate the effectiveness of the proposed system.

What does Europe do about fair competition in international air transport? A critique of recent actions

The States’ perception of what constitutes fair competition in international air transport has evolved from a quid pro quo approach in the era of airline regulation to a laissez-faire approach in the era of airline de-regulation. However, no consensus has ever been reached as to, first, what constitutes fair competition in an industry whose market access is still contingent on bilateral air services agreements (ASAs), and, second, what the pre-requisites of a level playing field are. The commercial success of the Gulf airlines has obliged regulators and policymakers around the world to revisit this issue and demand compliance with global rules. The EU has responded by adopting Regulation (EU) 2019/712 on safeguarding fair competition, as well as by championing the inclusion of fair competition clauses in ASAs. The analysis examines the compatibility of unilateral action under the Regulation with mutually negotiated solutions under ASAs so as to assess the legitimacy and efficiency of the EU strategy in the area of fair competition in international air transport.

An efficient bidding strategy for selecting most economic horizon in restructured electricity market with hybrid generation and energy storage

In the era of deregulation, constant efforts are being targeted towards the better power services by improving reliability, competitive power price, reduction of market power, and many more. The task of incorporating renewable energy sources while profit maximization becomes quite challenging. The uncertainty associated with them brings about a great deal of investment risk. This paper proposes a method for strategic bidding that not only helps in profit maximization but also keeps the risk factor under check. Despite using non-conventional energy; profit can still be maximized. The proposed approach is based on the Discrete-Time Markov Process (DTMDP) which helps to identify the most profitable economic zone for bidding in the power market while using hybrid generation. The system comprises of conventional and wind generation along with energy storage system. The DTMDP algorithm helps to mitigate uncertainty by learning from past scenarios. The past scenarios are hybrid generations without ESS. The proposed approach compares the present horizon with the past and decides whether to store or to dispatch energy from ESS. Any changes in the past scenario will directly impact the decision taken in the present horizon. Depending on the action taken reward is calculated. To determine the probabilistic wind generation Weibull probability distribution function has been used. The risk of each horizon has been calculated by using CVaR as risk assessment tool. The overall profit along with CVaR rating helps to decide the most profitable horizon for biding. Modified IEEE 14 bus system has been used for the case study to prove the efficacy of the proposed method.

Rescheduling of Generators with Pumped Hydro Storage Units to Relieve Congestion Incorporating Flower Pollination Optimization

In this paper, a Flower Pollination Algorithm (FPA) has been proposed for relieving congestion in the deregulated power electricity industry. Congestion in the power market is one the contemplative challenges to be overcome in the era of deregulation. The primary cause of congestion is due to the loss of the transmission line, an increase in load, or loss of generator(s). Hence, managing congestion is one of the issues which have to be tackled in the present scenario. There are several techniques to relieve congestion. It is quite well-known that the thermal limits of transmission lines in a power system are fixed. One of the methods to abate congestion is to reschedule the real power of the generators. The purpose of the present work is to benefit the Independent System Operator (ISO) in reliving congestion. (1) In order to meet this objective effectively, a FPA algorithm has been proposed for relieving congestion and is simulated on a modified IEEE 30-bus system initially. (2) Congestion cost, compared with and without the application of FPA, is computed. (3) To validate its effectiveness, the obtained results are compared with recent power system optimization algorithms present in the literature. (4) Further, the work has been extended with the incorporation of a Pumped Hydro Storage Unit (PHSU). Here an economic analysis of congestion cost reduction employing FPA before and after the incorporation of PHSU is investigated applying FPA. In comparison with other evolutionary algorithms, the uniqueness of generating a new population is attained in FPA by the levy flight procedure. It is one of the latest evolved algorithms and is suited for different power system problem due to fewer clear-cut tuning parameters in contrast with other algorithms. (5) Furthermore, the effects of other network parameters, including system losses and voltage, has been computed. The result obtained is tested in terms of congestion mitigation with and without the incorporation of PHSU, in terms of novel objective improvement, and with and without applying recently evolving FPA for the above application. Thus the objective-wise and algorithmic-wise innovative concept has been presented. This proves effectiveness of the algorithm in terms of minimized cost convergence and other parameter including system losses and voltage before and after the incorporation of PHSU as compared with other recent trendsetting reported optimization techniques.

Fire in the Bronx: Austerity, Quality of Life, and Nightlife Regulation in New York City Post-1975

America’s underground economy has grown strikingly since the 1970s, reflecting consumer demand for cheap prices, workers’ search for alternative sources of income, and government intervention. Far from unregulated, this economy has been managed in crucial ways, revealing a fundamental paradox in free market rhetoric. This was particularly striking in New York City in the latter decades of the twentieth century, where a set of uneven responses to the underground economy expanded its boundaries through new licensing, zoning, and permitting requirements that many businesses could not conform to. A tragic fire at an immigrant social club in March 1990 revealed the problematic turns in municipal policy taken in the aftermath of the city’s fiscal crisis. The lead up and response to the Happy Land Social Club fire by city officials demonstrated a rise in punitive regulation aimed at New York’s marginalized residents in an era of alleged deregulation and small government fetish.

Effect of Food Expenditure on Farming Households’ Welfare in Osun State, Nigeria

Abstract Food and nutrition security remain Africa’s most fundamental challenge for human welfare and economic growth. In this study, recent survey data from Osun State, Nigeria, was used to examine the effect of food expenditure on farming households’ welfare in Nigeria. Logistic and OLS regression models were the analytical tools used. Food Insecurity Gap (FIG) and Squared Food Insecurity Gap (SFIG) were used to capture the severity of food insecurity among the households. The results showed that, all households sampled consume rice, beans, vegetable, fish and oil as basic food items, while only 32% of them consume potatoes. The regression results showed that the household size, per capita income, dependency ratio and age were the highly significant factors influencing food expenditure. However, the coping strategy that was mostly adopted by the farmers in the study area was to cut down on the numbers of food items consumed. Therefore, it was recommended that farm mechanization should be encouraged for optimal land use and productivity. In all, promoting agricultural policies with appropriate price incentives that focus on intensification, diversification and resource-stabilizing innovations will create more wealth for all categories of farming households and this in turn will ensure food security, especially in an era of economic deregulation.

The Norwegian Government Pension Fund Global. Risk Based Versus Ethical Investments

Summary: Access to finance is crucial if we are to achieve the fundamental transition of our time: securing a safe and just society operating within the planetary boundaries. In the era of global market capitalism and deregulation, Sovereign Wealth Funds (SWFs) offer one of the few public economic institutions capable of injecting ecological and social values into global markets. This article undertakes a case study of one of the world’s largest SWF, the Norwegian Government Pension Global (The Fund). The Fund is well-known for its Ethical Guidelines recommending exclusion of companies based on products and conduct as well as the Fund’s public statements when withdrawing from companies. Still, the ethical basis of overlapping consensus leads to responding to public opinion and media controversy when considering divestment, rather than undertaking due diligence beforehand. In addition, and not well known, more firms have been excluded from the Fund based on the financial risk against the portfolio than based on the Ethical Guidelines. In this article we discuss the basis of both the Ethical Guidelines and of the financial risk management of the portfolio. Still, the majority of the Fund’s investments are on an unsustainable path of ‘business as usual’. A principal thesis of this article is the paradox that the more unsustainable ‘business as usual’ becomes, the importance of financial risk assessment increases and the relevance of the Ethical Guidelines decreases.

State monopoly of telecommunications in Ethiopia: origins, debates, and the way forward

ABSTRACTA rare breed in the era of deregulation, Ethiopia’s state-controlled telecommunications sector has been a source of intense debate involving domestic and international stakeholders. Based on analysis of interviews, this essay explores the Ethiopian state’s rationales for state monopoly of telecommunications within a developmental-neopatrimonial state framework. Despite external and internal pressures to deregulate the sector, EPRDF considers state control of telecommunications as a model that fosters universal access/service and generates considerable revenue. Notwithstanding the Ethiopian government’s historically unwavering position, the article concludes by making a case for public-private partnership as a sustainable model for telecommunication operation in Ethiopia.

From organized to disorganized capitalism? Market versus nonmarket coordination in Spain's dairy chain

AbstractConventional wisdom has it that the food economy has transitioned from organized to disorganized capitalism. An era of extensive state intervention between around 1930 and 1980 would have been followed by an era of deregulation and increasing coordination through markets after around 1980. This article uses the case of Spain's dairy chain to propose an alternative view. In the case under study, there certainly were elements of state‐coordinated capitalism between 1952 and 1986, as well as elements of deregulation and liberalization from 1986 onwards. However, the structure of economic coordination involved some combination of market and nonmarket mechanisms all the way through. The organized capitalism of the first period was not really so tightly organized, whereas much of its later “disorganization” was in fact a transition towards a different mode of “organization”: one in which the control of nonmarket coordination shifted from political to corporate hierarchies.