Level-playing Field Research Articles

Technological and policy directions for scaling-up blue hydrogen in India

The Government of India has indicated that hydrogen as an energy carrier will be a key part of its decarbonization solutions. Greater policy focus has been noticed on green hydrogen produced from electrolysis using renewable-powered electricity. That said, some other missions, such as the National Coal Gasification Mission, could directly tie into blue hydrogen production (from fossil fuels with CO2 storage). In this paper, we suggest two major policy initiatives for effective deployment of blue hydrogen. These include a comprehensive measurement programme for fugitive emissions and a level-playing field to ensure parity among sources. Moreover, we also provide insights as to why coalbed methane and underground coal gasification could provide somewhat overlooked feedstock of blue hydrogen. In doing so, the paper outlines the current state-of-the-art on blue hydrogen production in India, and recommendations for its scale-up.

Implications of the EU ETS on the level-playing field between carbon capture storage & utilisation

System modelling efforts have shown that carbon capture is a key technology to enable a cost-effective reduction of hard-to-abate emissions in energy-intensive industries. The CO2 that is captured can either be utilised (CCU), or stored with carbon capture and storage (CCS). This paper examines the implications of both European carbon pricing mechanisms (ETS I & ETS II) on the level-playing field between CCS and CCU investments. Our contribution is threefold. First, we develop an equilibrium model that enables us to mimic market outcomes under different regulatory conditions. With a numerical case study applied to a fuel production chain, the model confirms that the current ETS regulation can have an adverse effect on CCU uptake. Especially with zero or low ETS II prices a lock-in effect can occur on CCS, potentially prolonging conventional refinery activities. Second, we propose an alternative approach to better integrate CCUS into the EU ETS. Results show that this approach maintains the level-playing field between CCU and CCS, regardless of any carbon price differentials. That results in a closer to Pareto optimal outcome in terms of welfare and emission abatement. Third, we present an analytic analysis to express the CCUS trade-off from a theoretical point of view. This provides generalised and concrete insights into how EU ETS influences the profitability and likelihood of CCUS. Our results help policymakers to gain a better understanding of the impact of ETS regulations on decarbonisation efforts in the industry.

Gender differences in remote work: a study on the boundary management tactics of women and men

PurposeThe purpose of this study is to identify potential differences in experiences and their causes from a gender-based perspective.Design/methodology/approachWe use secondary data, and we conduct a thematic analysis, to identify whether and how women and men negotiate differently.FindingsDespite remote work being considered as creating a level-playing field for both genders, women are still vulnerable to work and life demands, and pre-existing stereotypes become exacerbated. In addition, we show how technology might be used to manage physical and temporal boundaries, through integration or segmentation tactics.Originality/valueThere is a growing body of literature that focuses on work-life conflict among teleworkers. Yet, there is limited research that explores such conflicts from a gender perspective, specifically whether and how different genders manage boundaries between work and life differently.

Analysis of Financial Performance of Islamic Mutual Funds & Islamic Pension Funds in Pakistan

The Islamic finance industry is growing exponentially at global level catering to the demands of Muslim consumers. The same trend is being observed in Pakistan as many Islamic mutual funds and Islamic pension funds are working alongside traditional funds. This research seeks to explore the financial performance of various Islamic mutual funds and Islamic pension funds in Pakistan from 2015-2022. For this purpose, we selected 10 Islamic mutual funds and 5 Islamic pension funds on random basis and employed Sharpe Ratio, Treynor Ratio, and Jenson’s Alpha techniques to analyze the financial performance of these funds in terms of returns generated and their comparison with the industry results. The study's findings showed that Islamic mutual and pension funds in Pakistan are still struggling to provide market-oriented returns to their investors. This gap in generating excess returns may be due to the nature of the Islamic funds that restricts their investment options for diversification due to the Shariah guidance. This study recommends that industry stakeholders including fund management companies, investors, regulatory bodies, Shariah scholars etc. all need to work closely to address the short-comings of the existing operational restrictions of the Islamic funds and ensure a level-playing field along with the traditional fund management companies for generating maximum returns for their investors.

Impact of Financial Liberalisation and Deregulation on Banking Sector in Pakistan

The paper analyses the market perception about the performance of Pakistani commercial banks in the wake of financial liberalisation and deregulation measures taken by the central bank over the last two decades. For this purpose, it uses the Survey approach. Out of 35 commercial banks, 15 banks have been chosen for analysis purposes. The paper mainly finds that key banking reforms have helped in removing the flaws in the banking sector of Pakistan. In particular, privatisation of banks, the deregulation and institutional strengthening measures, switching towards market-based monetary and credit management systems were instrumental in streamling banking operations. Similarly, the removal of restrictions on entry of private banks and operational restrictions on foreign banks also significantly contributed to the provision of quality banking services. The resultant competitive environment is the key factor behind improved efficiency of banks in Pakistan. The banks devised a number of strategies to respond to the competitive market conditions in the country. However, they faced various constraints in this regard, especially lack of managerial skills, and in hiring IT professionals, etc. As a part of future strategy, banks are likely to form more strategic alliances with foreign banks and undertake the expansion of business through widening of branch network. Despite a number of successful stories on different fronts, the central bank could not succeed in narrowing down the banking spread which is one of the key measures of banking performance. High domestic inflation, large non performing loans (NPLs) of banks, high administrative expenses, larger intermediation costs, and poor debt recovery are identified as important factors behind widening of banking spread. 1. INTRODUCTION The banking sector of an economy generally performs three primary functions: the facilitation of payment system, mobilisation of savings, and allocation of funds to stakeholders like government, investors, consumers, and business community who can utilise them for generation of economic activities.1 By virtue of its pivotal role, the banking sector can exert its positive influence on various segments of an economy. This gives it a privileged position among other sectors. In view of its significant role, economic managers always endeavour to devise such policies which could help provide the sector a level-playing field, thereby enabling it to operate on sound, efficient, and competitive footings. As in other emerging market economies, banks have been playing an important role in Pakistan also. However, the financial landscape of the country changed significantly in the 1970s with the nationalisation of Pakistani commercial banks. The Government also took various regressive steps, which included, among others, the initiation of subsidised bank credit schemes, the introduction of a complex system of credit ceilings, and imposition of controls on interest rates.3 These policy measures severely affected the efficiency of the banks. By the end of the 1980s, it was felt that Pakistan’s banking sector was not able to meet adequately the financial needs of the country

Towards a Level-Playing Field between Banks and Non-Banks in the European Market for Electronic Payments

Towards a Level-Playing Field between Banks and Non-Banks in the European Market for Electronic Payments

The Effectiveness of Compensatory Measures in Maintaining the Level-Playing Field

The Effectiveness of Compensatory Measures in Maintaining the Level-Playing Field

Asian regionalism and the shaping of state-owned enterprises rules in trade agreements

ABSTRACT This article explores Asian regionalism in the context of rule-making for cross-border regulation of State-owned enterprises (SOEs). Asian regionalism is defined by the normative integration of the Association of Southeast Asian Nations (ASEAN) which features a ‘hard-law obligations with structured flexibility’ paradigm in handling systematic conflicts. On the intra-regional level, the ASEAN aims to create a level-playing field through soft harmonization of competition law and policy. On the multilateral level, several ASEAN countries joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which contains a set of rules dedicated to SOEs. These rules are paradigmatic of the emerging trend in cross-border SOE regulation. This article investigates whether and how the ASEAN way of structured flexibility is manifest in the emerging international rules on SOEs and its implications for cross-border SOE regulation.

How to undo things with words? Explication and the counterperformative effects of regulation

Policymakers implement regulations with limited capacity to register the unexpected. We argue that unexpected events do occur when regulations are implemented and we develop the concept of explication to account for the performative misfires that generate them. Explication is the organisational process that allows abstract ideas to be transposed into material realities and it allows us to identify how regulatory texts can carry signs and intentions in absence of their authors. We investigate the implementation of Markets in Financial Instruments Directive (MiFID), a regulatory package that generated a market context that was significantly different from what its economic programme sought to achieve. The competitive model underlying MiFID aimed to create a level-playing field among European financial markets but in reality its explication reduced transparency. We make four contributions to organisation studies. First, we show that explication is a source of contingency in implementation. Second, we shed light on the individual and collective hermeneutic performance as the source of counterperformativity. Third, explication brings intention back into the discussion: intention emerges from the unintended consequences borne by regulatory texts from the moment interpretation begins. Fourth, we show how explication can be a widely useful concept in organisation studies because it brings the performativity of language back into material semiotics whilst maintaining a place for contingency.

Assault on salt Intake

Assault on salt Intake

The Effect of COVID-Related EU State Aid on the Level Playing Field for Airlines

State aid for airlines around the world has been a common practice during the COVID-19 pandemic, as the air transport was one of the sectors most heavily affected. This study analyzes 27 cases of state aid to EU airlines between 1 March 2020 and 30 September 2021 with a total amount of €31 billion. The information was obtained from the area of competition of the European Commission (EC), which is the entity responsible for final approval. Results indicate that the largest EU economies (Germany and France), as well as some Northern European countries, are supporting national airlines more extensively. Airlines with a weaker financial performance before the pandemic were more likely to receive state aid. Government involvement in the airline industry during the recent health crisis will have an important influence on the level playing field (LPF) for airlines. It is still unclear how this will evolve in the future, but it seems that some airlines now resemble the public flag companies of the past.

COMPUTER-BASED MEDICAL AND DENTAL COLLEGE ADMISSION TEST (MDCAT) IN PAKISTAN: A REFORM OR COMMOTION?

In Pakistan, there used to be a separate system of examinations in each province to get admission in Bachelor of Medicine, Bachelor of Surgery (MBBS) and Bachelor of Dental Surgery (BDS).It was a very efficient, transparent, reliable and authentic system unless it was decided to hand-over the task of conducting the exam to a private company called TEPS. In 2019, upon the dissolution of Pakistan medical and dental council (PMDC) and replacing it with Pakistan medical commission (PMC), it was unanimously decided to conduct a centralized examination across the country to provide a level-playing field by hiring a private company “TEPS”. Well, it made sense that this decision was in the best interest of students according to PMC and a way forward to standardization. However, assigning such a major task to the private company not only put the reliability of PMC at risk but also raised queries against its integrity. TEPS was not an authentic body to be given such a crucial task. Later on, in 2021, not only the examination was centralized but also it was taken on tablets computers with so many faulty techniques and errors, which raised many concerns amongst the students. This action put the student’s future at stake and turned out to be a disaster causing more harm than good. Initially, this decision was unacceptable to pre-medical students because they weren’t aware of this new pattern and weren’t prepared for it. Also, COVID-19 hit hard in 2020 and since then it resulted in the loss of precious time and studies of students. The students were not satisfied with the whole process, but somehow exam was conducted. According to the president of PMC, a total of 194,133 students appeared in the Medical and Dental College Admission Test (MDCAT) from 30th August to 2nd October 2021. Out of all, 68,680 students succeeded in the exam, making an outcome of 35.4 per cent pass percentage.1 The president reiterated and kept vouching for the authenticity and transparency of the exam. On the other hand, PMC was assailed by the pre-medical students after the exam. According to students, the examination was conducted on multiple days, with few being the most challenging than others in respect to the difficulty level. Ironically, during the exam, they weren’t provided with a good internet facility; thus, in most cases, students were unable to answer skipped questions and even some of them weren’t able to finish the exam in time.2 Questions were also raised regarding critical technical issues in construction of multiple choice questions (MCQs) without any item analysis or difficulty/discriminatory index by the experts. The credibility of MDCAT results was further jeopardize by declaration of results by PMC which were full of errors and blunders.3,4 Apart from this, PMC launched a question bank for preparation prior to the exam, which was not readily available to everyone since it was costly and not many were aware of it. Students complained about hacking of TEPS website as they were not getting access to the practice test on the website for few days. Questions were also raised about the contract of PMC with TEPS for conducting MDCAT examinations, which was later on declared as a violation of the rules of Public Procurement Regulatory Authority.5 Moreover, the evaluation of exam through a third party and revision of results further raised eyebrows. It gave an impression that the firm that was assigned this task to conduct exam was not prepared and the quality of MCQS and their reliability was questionable. However, PMC’s officials denied all the grievances and kept reassuring that the exam was conducted on a local network, irrespective of the need for internet connectivity. Similarly, it was reported that few questions were out of course and students faced a lot more difficulty in answering them. Furthermore, they added that the course syllabus was already shared on their website and all questions were reviewed by the subjects’ specialists.6 Students have their own excuses and PMC responds with their own arguments, but there is an obvious gap and lack communication between them. It’s a call for urgent attention of the president of Pakistan and other concerned officials to take notice of this newly imposed system by PMC and revisit it for better improvements. It’s completely unfair to be oblivious to such an issue. Nevertheless, it has caused more damage to the students and in many cases, they are in a terrible dilemma and reluctant to pursue a medical career in future.

Standing the Test of Time: The Level Playing Field and Rebalancing Mechanism in the UK–EU Trade and Cooperation Agreement (TCA)

ABSTRACT This article explores the dispute settlement elements of the UK–European Union Trade and Cooperation Agreement’s (TCA) novel Level Playing Field (LPF) rebalancing obligations, consisting of a requirement not to lower standards in areas of labour, the environment and subsidy policy such that an adverse material impact results to trade or investment flows between the parties. The test for violations of these provisions is narrowly framed, requiring strong evidence of significant harms and carefully calibrated retaliation. The system contemplates several avenues of dispute settlement including unilateral ex ante retaliation which may be levied against another sector. The article suggests that the substantive and procedural features of the TCA’s LPF mechanism affords reasonably wide opportunity for parties to practice regulatory divergence while evincing a commitment to shared values.

The CAI as seen from Spain: a positive agreement with uncertain implementation

Spanish elite’s perceptions of the European Union-China Comprehensive Agreement on Investment (CAI) are positive given its economic and normative prospects and its compatibility with Spain’s policy objectives. Spanish Ministry officials and business representatives welcome the potential progress on market access, level-playing field, and sustainable development, as it would offer economic opportunities in the Chinese market and bilateral investment, without precluding increased monitoring of Chinese economic activities. The agreement is in line with their willingness to increase bilateral ties under a normative framework that defends Spanish interests and values. Spanish elites consider that it is compliant with Spain’s and the European Union’s strategies and characterization of China as a partner, competitor, rival, which acknowledges that China is a key economic and multilateral partner, but also promotes a unified European China strategy, European strategic autonomy, and initiatives that tackle China’s challenges related with human rights, or investments in strategic sectors. Hence, Spanish political parties supported the resolution of the European Parliament freezing an eventual ratification of the CAI whilst Chinese sactions against European stakeholders are in place. Spanish elites also value that the agreement does not prevent greater cooperation with the United States, a key ally and more significant partner than China. Some political and private groups have expressed their opposition to the agreement, but their impact is likely to be limited. Finally, the practical implications—and reception—of the agreement will depend of its implementation.

Reuniting strategy and diplomacy for 21st century statecraft

ABSTRACT This article offers a new analytical framework to engage more effectively with the unit vs. system levels of analysis divide in International Relations (IR) by introducing Strategic Diplomacy. The systemic focus of structural theories obfuscates the crucial role of unit-level factors that contribute to policy outcomes, and studying actors and issues in isolation is equally unhelpful. By contrast, Strategic Diplomacy starts from a level-playing field and examines how actors and issues are embedded in a systemic context. The framework generates analytical leverage by both disaggregating the complexity of systems and highlighting that problem representation is entirely dependent on the boundaries of the system within which the problem is embedded. Yet, the boundaries that define a collective action problem are not drawn by the system alone; they are a conscious and strategic choice of those who analyse and make foreign policy.

Building a new ecosystem: A bank’s journey through sustaining digital transformation, understanding AI and managing the galaxy of continuous change

In October 2019, I delivered the keynote address to a room full of banking and financial services professionals on what to expect on a journey towards digital transformation (DT). At the outset I asked my audience if their business was in any of the following three categories — advanced stage of DT, somewhere in between or warming up to it. There was only one show of hand for ‘somewhere in between’, while the majority identified themselves as being at the starting stage. It did surprise me. Since then, however, the evolution towards DT has been rapid. Digital disruption has created a level-playing field for various ecosystems, with its own subsidaries offering services and generating real business value. If your business is an early adopter of digital disruption, then you already know the value, but if you are among the early majority, the conservative or even the sceptic willing to cross the chasm, I really hope that you can find at least one useful takeaway from this conversation. I am bringing the spotlight back to ‘where to start’, ‘why digital principles are required’ and ‘understanding and building your own strategy for data, platforms and machine learning’ to rebuild your organisation by facilitating the use of agile methods by important players across your organisation. Find your ‘why’ to connect customers, business and technology seamlessly through an opportunity well guided by data and machine learning.

Urban Planning and Human Development: How the COVID-19 Pandemic Reveals the Linkage

The onset and aftermath of COVID-19 can be understood as an extreme event within the context of New York City, in terms of urban planning and design, public health, and the cross-section of the two. Over the course of a few months since early March, 2020, infection rates, illness, hospitalizations, and deaths from COVID-19 swept through New York rapidly. It also became apparent early on that people were not being exposed to the SARS-CoV-2 virus equally, nor was COVID-19 spreading over a level-playing field. In this commentary, we examine what role COVID-19 played in a “social biopsy” of long-standing structural inequity in New York City, to reveal a deep, metastasizing tumor underneath the extreme wealth. We tell the story of the historical context in low-income public and non-profit housing and urban planning in New York City leading up to the pandemic’s outbreak, how the structural inequity was built into place over time by design, how the COVID-19 pandemic has shifted our understanding of equitable and sustainable New York City for New Yorkers, and ways that the pandemic has reinforced our individual and collective sense of uncertainty in the future and distrust in a common good. We then discuss how we can recover, restore and rebuild from the urban planning and public health perspectives, for New York City and beyond. Rebuilding will require reimagining a new normal, and we suggest unique but tried-and-true, complementary and collaborative roles for community stakeholders.

Educational and Social Inclusion of Children Admitted Under RTE Quota: A Survey of Private Schools of Bhopal

Status of growth and development of a society is measured by various social indices which depend on upon the equitable opportunities provided by the government in the form of access, participation, and transformation. Surveys in the last one decade, present to us glaring inequalities in social-economic and educational indicators of different socio-religious groups. Whenever policies and programmes do not benefit citizens, the government makes special provisions so that it would benefit them. The Right to Education Act (RTE) and within it 25% Economically Weaker Sections (EWS) quota was one such major intervention. The provision of 25% quota for EWS and disadvantaged children is mentioned in the RTE act section 12(1) (C). Thus, section 12(1)(C) of the RTE acts as a level-playing field for the children who were not able to afford quality education being offered in private schools. In Madhya Pradesh (MP), the RTE act came into effect from 2011. Bhopal the capital of MP had 2258 recognized schools and merely 223 have been covered under the RTE quota. Around 8162 EWS and disadvantaged students are studying in age appropriate classes. The present study was a small project work carried out in 10 schools of Bhopal (urban) covered under the RTE quota. The results indicated that though there is a social and educational inclusion of children in private schools but as per teachers' the ride is not a smooth one based on the responses of the students. Moreover, teachers still have a biased and unfavourable attitude towards these children. The gravity of the problem is not as big in the elite schools as they are not offering the EWS quota.

Banking on coal? Drivers of demand for Chinese overseas investments in coal in Bangladesh, India, Indonesia and Vietnam

This paper investigates why new coal-fired power plants are being financed and built in South and Southeast Asia given that new coal plants without carbon capture and storage are incompatible with a 1.5 °C temperature goal. The paper particularly focuses on developing countries where these coal-fired power plants are being built that are recipients of Chinese government-backed finance. The central research question of this paper is: Which factors drive the demand for financing for coal-fired power plants from China’s policy banks? Field research was conducted in four recipient countries: India, Indonesia, Vietnam, and Bangladesh. We find that the demand for Chinese-backed coal plants in the four recipient countries is mainly driven by domestic policy that embraces a growth of coal-fired power in their economies. Recipient country demand is well matched by China’s willingness to finance and export equipment and services to build new coal-fired power plants overseas. In every case, there are explicit, preferential domestic policies for coal, and in at least one case renewables are disallowed by regulation from competing with coal on a level-playing field. None have environmental policies that would require cleaner or more efficient plants to be constructed and operated. The main policy implication of the findings is that it is crucial for recipient countries to put in place the enabling policy conditions for an energy transition to a low-carbon future.

Can Panels Save WTO?

WTO is facing an unprecedented crisis. Multilateralism and international cooperation have crashed, not only because of a virus. Can WTO panelists don the strait jackets designed by the ‘automatic’ dispute settlement system of a non-supranational trade organisation, in order to find a ‘positive solution’ but without rulemaking? This paper argues that in cases in which trade rules play a lesser role, WTO can rule against globally coherent solutions. The present WTO impasse offers a surprising avenue for panelists and arbitrators, to apply peremptory international non-trade law and customary law principles (ius cogens). This window is open right now – thanks to the automatic adoption of adjudicator findings, such as, what is known as a non-violation of WTO rules. Emerging case law and the work of forward-looking academics show how to address measures with deleterious social and eco-dumping effects, unacceptable to the body politic at large. Complaints against trade-distorting human and labour rights violations, and perhaps even against measures causing excessive global warming, could lead future adjudicators to answer the repeated call of the presently defunct Appellate Body for a ‘holistic’ reading of WTO rules, across the fragmented international legal framework. WTO’s reputation would regain lost ground where it matters, namely in constituencies looking for better international governance and a level-playing field.