Search results

A control‐volume based method for the numerical calculation of axisymmetric incompressible fluid flow and heat transfer is presented. The proposed method extends the staggered grid approach to unstructured triangular meshes. The velocities are stored at the vertices and the edges of a triangle, pressure and temperature are stored at the vertices. Accordingly, velocities are interpolated in a quadratic way, pressure and temperature linearly. The accuracy of the proposed method is examined for a number of different testproblems. Compared to a linear interpolation scheme implemented in the same code, more accurate solutions and smaller computation times are obtained for the proposed quadratic scheme. The method was designed for and is about to be applied to the numerical simulation of crystal growth.

The purpose of this paper is to investigate and assess the trends of bilateral services trade in the world segmented by trade for final consumption and intermediate usage across several service sectors. The differential trends, if any, are studied while examining the role of free trade agreements which have a chapter on services trade as well as the role of services trade restrictions. The study unravels differences across service sectors in this respect.

The author uses an augmented gravity model to address the above using OECD- World Trade Organization (WTO) TiVA data for bilateral trade in intermediates and final products (October 2015 release) and World Bank Services Trade Restrictions Index (STRI). The poisson pseudo maximum likelihood estimation technique is used in light of the structure of the data. Trade creating and diverting effects are identified controlling for time and country-time specific effects. The following sectors are specifically looked at: total business sector services, computer and related services, financial intermediation, post and telecommunication, transport and storage, R&D and other business services, hotels and restaurants, construction, and wholesale and retail trade.

First, services free trade agreements (FTAs) have had a trade creating impact with no trade diverting impact for services trade in aggregate with stronger effects on services traded for intermediate usage. Second, financial intermediation and post and telecommunication have been left unaffected by services FTAs. While no trade diversion is concluded for any sector, R&D and other business services, transport and storage and wholesale retail trade show maximum trade creation effects in response to FTAs. Third, trade restrictions of mainly OECD countries are responsible for lowering exports for most sectors. Finally, in terms of policy implications, at a general level, the author does not find a significant difference in the author’s results for services traded for intermediate usage or final consumption except for a stronger effect of FTAs on intermediate services trade. Hence, the policies to foster services trade on both counts are concluded to be the same and deal with behind-the-border policies of domestic industrial policy reforms like national treatment of foreign firms, licensing requirements, FDI policies, etc.

Statistics for services trade are limited. The data are only available for the years 1995, 2000, 2005, 2008, 2009, 2010 and 2011. Additionally, the conclusions on services trade restrictions are based on statistics for 2011 alone, since this is the only year for which the statistics are available. A complete time series for the entire sample period would increase robustness of the study with a better time variant version of the trade restrictiveness variable. Finally, in the construction of the OECD-WTO-TiVA database of a world IO table, there may have been approximations in constructing statistics for services traded for intermediate usage and final consumption. The results remain sensitive to the same but this is the best possible statistics available for the purposes.

This is the first study which looks at services trade segmented by trade for final consumption and intermediate usage taking advantage of the available data for a number of service sectors. The role of restrictions is also studied for the first time segmented by trade in intermediates and final consumption. The stronger effects of FTAs on intermediate services trade as well as financial intermediation and post and telecommunication services being insulated from effects of FTAs are important findings, especially since services are mainly thought to be traded for final consumption. Similar trends of results for services traded for intermediate usage and final consumption and restrictions affecting exports from exporter countries and imports by importer countries highlight the importance of behind-the-border domestic policies in facilitating or inhibiting services trade on both counts and more importantly for intermediate usage which, in turn, would improve goods tradability.

The purpose of this study was to compare the evolution of the scientific production of Costa Rica and Panama, from Central America and Paraguay and Uruguay, from South America in the period 2000–2018. To achieve this, first, a bibliometric mapping was performed using the Web of Science (WoS) database. Second, the triple helix model was used to determine whether there are similar patterns or marked differences in the distribution of this type of publications in the helices of government, academia and industry.

The steps followed in this study were as follows: design and application of an algorithm to perform WoS downloads; download the publications using the country descriptor; process data using R and VOSviewer; design of a profile of the selected countries based on indicators; and use of the triple helix model to determine the weight of the scientific production.

The data found corroborate that the small technoscientific worlds examined do not have the minimum Science & Technology personnel nor the capabilities in infrastructure and technological equipment, and that expenditure in this area is minimal and for these reasons, the production in the WoS is low.

Studying the small technoscientific worlds from a bibliometric perspective allows generating inputs to diagnose the state of these countries in this area, as no evidence of similar studies in these countries was found in Scopus or the WoS. Likewise, examining scientific production from the triple helix model makes it possible to identify the weaknesses of each actor, and the results can contribute to the design of better public policies.

In 1951 23 ½ million Britons took 25 million holidays in Britain. In 1960 this had increased to 26 million Britons taking 31½ million holidays in Britain. Since 1960 there has been no appreciable increase either in the number of holiday makers or the number of holidays taken, thus in 1966 some 25 million holiday makers took 31 million holidays in Britain.

The objectives of this paper are to estimate the annual Malmquist TFP(total factor productivity) index of Korea and China’s road freight transport with DEA(data envelope analysis) and to decompose the index into technical efficiency change and technology change. In the process of the estimation, we used labor, capital, and fuel as input factors and ton-km of road freight transport as output factor. The panel data of Korea and China’s road freight transport industry from 1985 to 2004 are used. The results of the analysis show several points. First, there was no significant improvement in China’s TFP growth before 1997, but there was continuous growth in TFP since 1997 because of constantly increasing domestic freight transport demand. Second, there was downward trend in Korea’s TFP, especially there was a large reduction of productivity in 1998 because of the huge reduction of road freight transport demand during the period of the economic crisis. Third, the technology improvements play a significant role in the TFP growth and the technical efficiency had negative effects on the TFP growth of Korea. However, the technology improvements as well as the technical efficiency had positive effects on the TFP growth of China’s road freight transport industry.

The current research aims to investigate the impact of coronavirus 2019 (COVID-19) evolution, government stringency measures and economic resilience on stock market volatility in the Middle East and North African (MENA) emerging markets. Other macroeconomic factors were also taken into account.

Based on financial data from 10 selected MENA countries, we tested an integrated framework that has not yet been explored in prior research. The exponential generalized autoregressive conditional heteroskedasticity (E-GARCH) was adopted to analyze data from March 2020 to February 2022.

Our research illustrates the direct and indirect effects of the virus outbreak on stock market stability and reports that economic resilience could alleviate the volatility shock. This finding is robust across the various proxies of economic resilience used in this study. We also argue that the negative impact of the pandemic on equity market variation gets more pronounced in countries with higher level of stringency scores.

Policymakers ought to strengthen their economic structures and reinforce the economic governance at the national level to gain existing and potential investors’ trust and ensure lower stock market volatilities in times of crisis. Our study also recommends some key economic factors to consider while establishing efficient policies to tackle unexpected shocks and prevent financial meltdowns.

Our findings add to the evolving literature on the reaction of economic and financial markets to the sanitary crisis, particularly in developing countries where research is still scarce. This study is the first of its kind to investigate the stock market reaction to stringency measures in the understudied MENA region.

This article attempts to understand the dynamics of institutional management processes. This concept is defined here as managerial action vis‐a‐vis emerging political and infra‐structural conditions for business in the nation‐state arena. For this purpose the emerging patterns of relationships between business and politics in the Finnish forest sector are described and analysed. Our focus is on the impact of the four most societally loaded changes in political and infra‐structural conditions of the forest sector: its position in the core of the Finnish economy, the ownership of the key resources, the use of timber as the basic source of welfare, and the logging and transportation infrastructure. These changes become the key issues for the level of institutional management in the forest sector. They have remained significant over the studied long‐term period, but the efforts of their moulding have changed over time. These dynamics of institutional management are found to follow a cycle, divided in seven phases, coined as: (1) offensive confrontation, (2) operational co‐operation, (3) differentiation of institutional management, (4) exploitation of a core position, (5) justification of expansion and growth, (6) legitimation of decline, and (7) defensive confrontation. The authors provide examples and evidence of these changing patterns of institutional management, and offer a proposition about the underlying dynamics of the cycle.