scholarly journals Fiscal Gap: an Estimate for Russia

2015 ◽  
pp. 5-25 ◽  
Author(s):  
E. Goryunov ◽  
L. Kotlikoff ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Natural Gas ◽  
Productivity Growth ◽  
Budget Constraint ◽  
Demographic Trends ◽  
Long Run ◽  
General Government ◽  
Oil And Natural Gas ◽  
Major Factors

Fiscal gap is an indicator of long run sustainability of government finance. It is derived from intertemporal budget constraint which connects flows of budget outlays and receipts aggregated along decades. In order to get an estimate of Russia’s general government fiscal gap we consider three scenarios which are based on different assumptions regarding demographic trends, productivity growth, extractable reserves of oil and natural gas, long-term price of oil and natural gas, etc. Estimated value of fiscal gap implies that current fiscal policy cannot provide budget sustainability in the long run. There are two major factors of the budget imbalances: rising health and pension expenditures due to demographic trends and shrinking role of tax revenues from the energy sector due to extraction growth rate projected to be lower than GDP growth. This study is an extension of (Goryunov et al., 2013).

Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey

2021 ◽  
pp. 262-283
Author(s):  
Uğur Uzun ◽  
Zafer Adalı
Keyword(s):  
Natural Gas ◽  
Financial Performance ◽  
Unit Root ◽  
Primary Energy ◽  
Energy Prices ◽  
Long Run ◽  
Natural Gas Prices ◽  
Oil And Natural Gas ◽  
The Relationship

In this chapter, the authors aim to investigate the association between the primary energy sources' prices involving oil and natural gas and sectors indices operating the Turkey stock market for the period covering 2012M1-2021M3. Regarding energy price indicators, Brent oil and natural gas real-time future prices are preferred in the models, and BIST Industrials (XUSIN), BIST Chem-Petrol Plastic (XKMYA), and BIST Electricity (XELKT) indices are used as financial performance indicators. Fourier unit root tests improved by Becker et al. and Fourier co-integration tests improved by Tsong et al. are employed to investigate the relationship between considered variables. As a result of the models, it is found that the energy prices and financial performance index do not move together in the long run; in other words, change in oil and natural gas prices seem not to have an impact on the sector indexes.

scholarly journals Shades between Black and Green Investment: Balance or Imbalance?

2021 ◽  
Vol 13 (9) ◽  
pp. 5024
Author(s):  
 Vítor Manuel de Sousa Gabriel ◽  
María Mar Miralles-Quirós ◽  
José Luis Miralles-Quirós
Keyword(s):  
Risk Factor ◽  
Oil Prices ◽  
Oil Price ◽  
Short Term ◽  
Environmental Indices ◽  
Long Run ◽  
Green Investment ◽  
Bounds Test

This paper analyses the links established between environmental indices and the oil price adopting a double perspective, long-term and short-term relationships. For that purpose, we employ the Bounds Test and bivariate conditional heteroscedasticity models. In the long run, the pattern of behaviour of environmental indices clearly differed from that of the oil prices, and it was not possible to identify cointegrating vectors. In the short-term, it was possible to conclude that, in contemporaneous terms, the variables studied tended to follow similar paths. When the lag of the oil price variable was considered, the impacts produced on the stock market sectors were partially of a negative nature, which allows us to suppose that this variable plays the role of a risk factor for environmental investment.

scholarly journals Responses of Vertebrate Wildlife to Oil and Natural Gas Development: Patterns and Frontiers

2021 ◽  
Author(s):  
A. D. Chalfoun
Keyword(s):  
Natural Gas ◽  
Anthropogenic Activities ◽  
Spatial Scales ◽  
Habitat Type ◽  
Population Level ◽  
Low Frequencies ◽  
Natural Gas Development ◽  
The Usa ◽  
Oil And Natural Gas

Abstract Purpose of Review Anthropogenic activities can lead to the loss, fragmentation, and alteration of wildlife habitats. I reviewed the recent literature (2014–2019) focused on the responses of avian, mammalian, and herpetofaunal species to oil and natural gas development, a widespread and still-expanding land use worldwide. My primary goals were to identify any generalities in species’ responses to development and summarize remaining gaps in knowledge. To do so, I evaluated the directionality of a wide variety of responses in relation to taxon, location, development type, development metric, habitat type, and spatiotemporal aspects. Recent Findings Studies (n = 70) were restricted to the USA and Canada, and taxonomically biased towards birds and mammals. Longer studies, but not those incorporating multiple spatial scales, were more likely to detect significant responses. Negative responses of all types were present in relatively low frequencies across all taxa, locations, development types, and development metrics but were context-dependent. The directionality of responses by the same species often varied across studies or development metrics. Summary The state of knowledge about wildlife responses to oil and natural gas development has developed considerably, though many biases and gaps remain. Studies outside of North America and that focus on herpetofauna are lacking. Tests of mechanistic hypotheses for effects, long-term studies, assessment of response thresholds, and experimental designs that isolate the effects of different stimuli associated with development, remain critical. Moreover, tests of the efficacy of habitat mitigation efforts have been rare. Finally, investigations of the demographic effects of development across the full annual cycle were absent for non-game species and are critical for the estimation of population-level effects.

scholarly journals Between communism and capitalism: long-term inequality in Poland, 1892–2015

2021 ◽  
Author(s):  
Paweł Bukowski ◽  
Filip Novokmet
Keyword(s):  
Household Survey ◽  
National Accounts ◽  
Capital Income ◽  
Sharp Rise ◽  
Long Run ◽  
History Of ◽  
Low Levels ◽  
Distribution Of Income

AbstractWe construct the first consistent series on the long-term distribution of income in Poland by combining tax, household survey and national accounts data. We document a U-shaped evolution of inequalities from the end of the nineteenth century until today: (1) inequality was high before WWII; (2) abruptly fell after the introduction of communism in 1947 and stagnated at low levels during the whole communist period; (3) experienced a sharp rise with the return to capitalism in 1989. We find that official survey-based measures strongly under-estimate the rise in inequality since 1989. Our results highlight the prominent role of capital income in driving the U-shaped evolution of top income shares. The unique inequality history of Poland speaks to the central role of institutions and policies in shaping inequality in the long run.

Neuroprotective Role of Nutritional Supplementation in Athletes

2021 ◽  
Vol 14 ◽  
Author(s):  
Supriya Mishra ◽  
Vikram Jeet Singh ◽  
Pooja A Chawla ◽  
Viney Chawla
Keyword(s):  
Neurodegenerative Disorders ◽  
Brain Injuries ◽  
Recovery Process ◽  
Traumatic Brain Injuries ◽  
Omega 3 ◽  
Long Run ◽  
Pathological Mechanism ◽  
Injury Recovery

Background: Neurodegenerative disorders belong to different classes of progressive/chronic conditions that affect the peripheral/central nervous system. It has been shown through studies that athletes who play sports involving repeated head trauma and sub-concussive impacts are more likely to experience neurological impairments and neurodegenerative disorders in the long run. Aims: The aim of the current narrative review article is to provide a summary of various nutraceuticals that offer promise in the prevention or management of sports-related injuries, especially concussions and mild traumatic brain injuries. Methods: This article reviews the various potential nutraceutical agents and their possible mechanisms in providing a beneficial effect in the injury recovery process. A thorough survey of the literature was carried out in the relevant databases to identify studies published in recent years. In the present article, we have also highlighted the major neurological disorders along with the associated nutraceutical(s) therapy in the management of disorders. Results: The exact pathological mechanism behind neurodegenerative conditions is complex as well as idiopathic. However, mitochondrial dysfunction, oxidative stress as well as intracellular calcium overload are some common reasons responsible for the progression of these neurodegenerative disorders. Owing to the multifaceted effects of nutraceuticals (complementary medicine), these supplements have gained importance as neuroprotective. These diet-based approaches inhibit different pathways in a physiological manner without eliciting adverse effects. Food habits and lifestyle of an individual also affect neurodegeneration. Conclusion: Studies have shown nutraceuticals (such as resveratrol, omega-3-fatty acids) to be efficacious in terms of their neuroprotection against several neurodegenerative disorders and to be used as supplements in the management of traumatic brain injuries. Protection prior to injuries is needed since concussions or sub-concussive impacts may trigger several pathophysiological responses or cascades that can lead to long-term complications associated with CNS. Thus, the use of nutraceuticals as prophylactic treatment for neurological interventions has been proposed.

Increasing Access or Widening Choice: The Role of Resold Public-Sector Dwellings in the Housing Market

1992 ◽  
Vol 24 (11) ◽  
pp. 1585-1598 ◽  
Author(s):  
N J Williams ◽  
F E Twine
Keyword(s):  
Public Sector ◽  
Housing Market ◽  
Housing Policy ◽  
Housing Association ◽  
Lower Income ◽  
General Government ◽  
Policy Shift ◽  
Long Term Impact

British housing policy has, since 1979, been dominated by a shift from collectivist to market-oriented strategies. The single most important element of this policy shift has been the sale of public-sector dwellings to sitting tenants. The patterns of such sales have been well documented, but the longer-term effects on the broader housing market are less well understood. This paper is a report of the results of a research project into the resale by purchasing tenants of Scottish Special Housing Association dwellings over the period 1979–90. The findings are placed in the broader context of the general government housing policy aimed at widening the access to owner occupation for lower-income households. The authors conclude that the long-term impact of the sale of public-sector dwellings is more likely to widen choice for existing owners rather than to increase access to owner occupation.

The Relationship Between Commodity Prices and Selected Macroeconomic Variables in Turkey

2020 ◽  
pp. 510-528
Author(s):  
Mustafa Uysal ◽  
Zafer Adalı
Keyword(s):  
Natural Gas ◽  
Commodity Prices ◽  
Cointegration Test ◽  
Macroeconomic Variables ◽  
Long Run ◽  
Oil And Natural Gas ◽  
The Relationship

This chapter determines whether there is a long-run relationship among oil, copper, natural gas, export figures and import figures, and BIST 100. Within this context, the study employs monthly periods from January 2006 to June 2019. ADF, Fourier ADF, and Banerjee Cointegration Test were applied. Banerjee Cointegration Test revealed that copper, oil, and natural gas and import figures move together in the long run but the existence of the long-run relationship between the selected inputs and export figures and BIST 100 has not been found. This evidence can be interpreted as the change in oil, copper, and natural gas may influence the amount of Turkish import figures.

scholarly journals Cooperation and Security: Examining the Political Discourse on Natural Gas Transit in Ukraine and Slovakia

Energies ◽  
2020 ◽  
Vol 13 (22) ◽  
pp. 5969
Author(s):  
Kateryna Yakovenko ◽  
Matúš Mišík
Keyword(s):  
Natural Gas ◽  
Energy Security ◽  
Political Discourse ◽  
Fossil Fuel ◽  
The Political ◽  
Nord Stream ◽  
Under Construction ◽  
The Eu

The COVID-19 pandemic appeared in the midst of developing the European Green Deal, the most ambitious project to decarbonise the EU’s economy to date. Among other issues, the project highlighted the challenges connected to the long-term role of natural gas as a fossil fuel in the European economy. Moreover, the changes to the gas architecture caused by the development of new import infrastructure (especially Nord Stream and its extension, which is currently under construction) put additional pressure on the transit countries, mainly of which are linked to the Brotherhood pipeline. These have been strong supporters of natural gas utilisation and harsh critics of new pipelines that circumvent their territories, as they consider energy transit to be an important part of their energy sectors. This research examines the political discourse on gas transit in Slovakia and Ukraine in order to identify the main arguments connected to these positions. The paper examines a total of 233 textual units from both countries for the period 2014–2018. It concludes that, while Ukraine sees transit predominantly through the lens of cooperation with the EU and other actors, the Slovak political discourse considers gas transit in terms of energy security and the availability of gas for the national economy.

Does slum formalisation without title provision stimulate housing improvement? A case of slum declaration in Pune, India

Urban Studies ◽  
2016 ◽  
Vol 54 (7) ◽  
pp. 1715-1735 ◽  
Author(s):  
Shohei Nakamura
Keyword(s):  
Land Tenure ◽  
Informal Settlements ◽  
Household Survey ◽  
Tenure Security ◽  
Long Run ◽  
Slum Upgrading ◽  
Housing Materials ◽  
Housing Investments

Though previous studies have examined how formalising land tenure affects housing improvements in informal settlements, the role of tenure security and its long-term influence remain unclear. In response, this paper quantitatively examines the extent to which formalising land tenure by way of slum declaration has stimulated housing improvements during the last three decades in the slums of Pune, India. Since slum declaration guarantees residents occupancy but not full property rights, this study focuses on how tenure security contributes to housing outcomes, such as materials, size, the number of floors and the amount of money spent for the improvements. Using original household survey data, analysis involving propensity score matching and difference-in-differences methods reveals that slum declaration has tripled a household’s likelihood of having added a second floor and, albeit less clear, increased the average amount of money spent on housing improvements. At the same time, slum declaration has not induced any improvement in housing materials, largely since many residents of non-formalised slums have also replaced materials. These results indicate that slum declaration, even in the long run, has continued to influence housing investments in Pune’s slums, in terms of both type and amount spent, though residents of non-formalised slums have also come to enjoy certain de facto tenure security. Among other implications for policy, these findings underscore that governments should at least provide legal assurance of occupancy rights in informal settlements, even if active interventions such as slum upgrading and titling are currently difficult.

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