Financialisation research has originally focussed on the US experience,but the concept is now increasingly applied to emerging economies(EMEs).There is a rich literature stressing peculiarities of individual country e...Financialisation research has originally focussed on the US experience,but the concept is now increasingly applied to emerging economies(EMEs).There is a rich literature stressing peculiarities of individual country experiences,but little systematic comparison across EMEs.This paper fills this gap,providing an overview of the debate and identifying six financialisation interpretations for EMEs.These different interpretations stress(1)financial deregulation,(2)foreign financial inflows,(3)asset price volatility,(4)the shift from bank-based to market-based finance,(5)business debt,and(6)household indebtedness.We construct and compare measures of the six financialisation interpretations across a sample of 17 EMEs from Latin America,emerging Europe,Africa and Asia,contrasting them with the US and UK,two financialised economies.We find considerable variation in financialisation experiences of EMEs.Asset price volatility is found across the continents.Asia has been more exposed to capital inflows,stock markets have gained importance and private sector debt has risen.In emerging Europe financial deregulation has been more pronounced with lower levels but strong increases in household debt.The picture is similar in South Africa,the African EME in the sample,where household debt is comparatively high.Financialisation in Latin America is weaker according to our measures.展开更多
Deployment of renewable energy generation capacities and integration of their power production into existing power systems has become a global trend,with a common set of operational challenges stemming from variabilit...Deployment of renewable energy generation capacities and integration of their power production into existing power systems has become a global trend,with a common set of operational challenges stemming from variability and limited predictability of power generation from,e.g.,wind and solar.Denmark is a country that invested early in wind energy,rapidly proposing very ambitious goals for the future of its energy system and global energy usage.While the case of Denmark is specific due to its limited size and good interconnections,there may still be a lot to learn from the way operational practice has evolved,also from shifting towards a liberalized electricity market environment,and more generally from going along with other technological and societal evolution.The aim of this paper is to give an overview of recent and current initiatives in Denmark that contributes towards a goal of reaching a fully renewable energy system.展开更多
The time period between 2020 and 2035 is vital for China to achieve its second centennial goal.During this period,China must avoid the middle-income trap and achieve socialist modernization.To accomplish this goal,Chi...The time period between 2020 and 2035 is vital for China to achieve its second centennial goal.During this period,China must avoid the middle-income trap and achieve socialist modernization.To accomplish this goal,China must maintain a certain pace of economic growth and strive to double its real GDP per capita by 2035.However,by the current growth trajectory,China’s average economic growth rate is expected to stay at approximately 3.8%over the period between 2020-2035.This makes the GDP per capita growth target hard to achieve.Even when in a high-quality development stage,China should speed up economic growth while enhancing growth quality.Speed and quality are interdependent rather than contradictory with each other.To ramp up economic growth potentials,China must proceed with market-oriented reforms and shift economic growth drivers.To improve economic growth quality,household consumption should be increased to unleash China’s full potential,not only as the factory floor of the world but also one of world’s biggest markets,i.e.“dual circulations.”With appropriate policy response,China’s economy will be poised to achieve the goal of doubling real GDP per capita by 2035,marking a large stride in its economic aggregate and urban and rural household per capita incomes.展开更多
In the era of big data,there is an urgent need to establish data trading markets for effectively releasing the tremendous value of the drastically explosive data.Data security and data pricing,however,are still widely...In the era of big data,there is an urgent need to establish data trading markets for effectively releasing the tremendous value of the drastically explosive data.Data security and data pricing,however,are still widely regarded as major challenges in this respect,which motivate this research on the novel multi-blockchain based framework for data trading markets and their associated pricing mechanisms.In this context,data recording and trading are conducted separately within two separate blockchains:the data blockchain(DChain) and the value blockchain(VChain).This enables the establishment of two-layer data trading markets to manage initial data trading in the primary market and subsequent data resales in the secondary market.Moreover,pricing mechanisms are then proposed to protect these markets against strategic trading behaviors and balance the payoffs of both suppliers and users.Specifically,in regular data trading on VChain-S2D,two auction models are employed according to the demand scale,for dealing with users’ strategic bidding.The incentive-compatible Vickrey-Clarke-Groves(VCG)model is deployed to the low-demand trading scenario,while the nearly incentive-compatible monopolistic price(MP) model is utilized for the high-demand trading scenario.With temporary data trading on VChain-D2S,a reverse auction mechanism namely two-stage obscure selection(TSOS) is designed to regulate both suppliers’ quoting and users’ valuation strategies.Furthermore,experiments are carried out to demonstrate the strength of this research in enhancing data security and trading efficiency.展开更多
Introduction: Noise is the second leading cause of hearing loss in adults after presbycusis. The objective of this work was to study hearing loss induced by the noise of mills in the markets of Parakou. Methods: This ...Introduction: Noise is the second leading cause of hearing loss in adults after presbycusis. The objective of this work was to study hearing loss induced by the noise of mills in the markets of Parakou. Methods: This was a descriptive and analytical cross-sectional study, conducted from February 3 to June 3, 2021 in the markets of Parakou. It concerned millers and sellers located within a 5 meter radius around the mills and among whom pure-tone audiometry was performed to detect a hearing loss. Subjects with no particular medical health history, under 55 years of age and having been working in these markets since more than 12 months, were included. Results: In this study, 103 subjects were selected, including 43 millers and 61 sellers. Their average age was 29 ± 13 years. The sex ratio was 0.49. The average length of service in the profession was 8 years with the extremes of 3 months and 47 years. They were exposed to noise on average 10 hours per day and 6 days a week. The average duration of weekly noise exposure was 23 h 28 min ± 13 h 32 min with the extremes of 5 h 00 min and 52 h 30 min. The average level of noise exposure was 90 dB with the extremes of 72 and 110 dB. 24 subjects reported symptoms related to noise such as headache, tinnitus, and hearing loss, with respective proportions of 22.33%, 20.39% and 06.80%. The prevalence of noise-related hearing loss was 26.21% (n = 27/103). Subjects with a notch at 4000 Hz and normal Average Hearing Loss (AHL) (20.39%) had a seven-time greater risk of developing noise-induced hearing loss (OR = 6.58;95% CI [2.54 - 18.8], p Conclusion: Hearing loss related to the noise of mills affected both millers and sellers near the mills in markets, hence the importance of regulating mills.展开更多
文摘Financialisation research has originally focussed on the US experience,but the concept is now increasingly applied to emerging economies(EMEs).There is a rich literature stressing peculiarities of individual country experiences,but little systematic comparison across EMEs.This paper fills this gap,providing an overview of the debate and identifying six financialisation interpretations for EMEs.These different interpretations stress(1)financial deregulation,(2)foreign financial inflows,(3)asset price volatility,(4)the shift from bank-based to market-based finance,(5)business debt,and(6)household indebtedness.We construct and compare measures of the six financialisation interpretations across a sample of 17 EMEs from Latin America,emerging Europe,Africa and Asia,contrasting them with the US and UK,two financialised economies.We find considerable variation in financialisation experiences of EMEs.Asset price volatility is found across the continents.Asia has been more exposed to capital inflows,stock markets have gained importance and private sector debt has risen.In emerging Europe financial deregulation has been more pronounced with lower levels but strong increases in household debt.The picture is similar in South Africa,the African EME in the sample,where household debt is comparatively high.Financialisation in Latin America is weaker according to our measures.
基金supported by the Danish Innovation Fund through the projects‘5s’–Future Electricity Markets(12-132636/DSF)and CITIES(DSF-1305-00027B)as well as EUDP through the project EnergyLab Nordhavn(EUDP 64015-0055).
文摘Deployment of renewable energy generation capacities and integration of their power production into existing power systems has become a global trend,with a common set of operational challenges stemming from variability and limited predictability of power generation from,e.g.,wind and solar.Denmark is a country that invested early in wind energy,rapidly proposing very ambitious goals for the future of its energy system and global energy usage.While the case of Denmark is specific due to its limited size and good interconnections,there may still be a lot to learn from the way operational practice has evolved,also from shifting towards a liberalized electricity market environment,and more generally from going along with other technological and societal evolution.The aim of this paper is to give an overview of recent and current initiatives in Denmark that contributes towards a goal of reaching a fully renewable energy system.
文摘The time period between 2020 and 2035 is vital for China to achieve its second centennial goal.During this period,China must avoid the middle-income trap and achieve socialist modernization.To accomplish this goal,China must maintain a certain pace of economic growth and strive to double its real GDP per capita by 2035.However,by the current growth trajectory,China’s average economic growth rate is expected to stay at approximately 3.8%over the period between 2020-2035.This makes the GDP per capita growth target hard to achieve.Even when in a high-quality development stage,China should speed up economic growth while enhancing growth quality.Speed and quality are interdependent rather than contradictory with each other.To ramp up economic growth potentials,China must proceed with market-oriented reforms and shift economic growth drivers.To improve economic growth quality,household consumption should be increased to unleash China’s full potential,not only as the factory floor of the world but also one of world’s biggest markets,i.e.“dual circulations.”With appropriate policy response,China’s economy will be poised to achieve the goal of doubling real GDP per capita by 2035,marking a large stride in its economic aggregate and urban and rural household per capita incomes.
基金partially supported by the Science and Technology Development Fund,Macao SAR (0050/2020/A1)the National Natural Science Foundation of China (62103411, 72171230)。
文摘In the era of big data,there is an urgent need to establish data trading markets for effectively releasing the tremendous value of the drastically explosive data.Data security and data pricing,however,are still widely regarded as major challenges in this respect,which motivate this research on the novel multi-blockchain based framework for data trading markets and their associated pricing mechanisms.In this context,data recording and trading are conducted separately within two separate blockchains:the data blockchain(DChain) and the value blockchain(VChain).This enables the establishment of two-layer data trading markets to manage initial data trading in the primary market and subsequent data resales in the secondary market.Moreover,pricing mechanisms are then proposed to protect these markets against strategic trading behaviors and balance the payoffs of both suppliers and users.Specifically,in regular data trading on VChain-S2D,two auction models are employed according to the demand scale,for dealing with users’ strategic bidding.The incentive-compatible Vickrey-Clarke-Groves(VCG)model is deployed to the low-demand trading scenario,while the nearly incentive-compatible monopolistic price(MP) model is utilized for the high-demand trading scenario.With temporary data trading on VChain-D2S,a reverse auction mechanism namely two-stage obscure selection(TSOS) is designed to regulate both suppliers’ quoting and users’ valuation strategies.Furthermore,experiments are carried out to demonstrate the strength of this research in enhancing data security and trading efficiency.
文摘Introduction: Noise is the second leading cause of hearing loss in adults after presbycusis. The objective of this work was to study hearing loss induced by the noise of mills in the markets of Parakou. Methods: This was a descriptive and analytical cross-sectional study, conducted from February 3 to June 3, 2021 in the markets of Parakou. It concerned millers and sellers located within a 5 meter radius around the mills and among whom pure-tone audiometry was performed to detect a hearing loss. Subjects with no particular medical health history, under 55 years of age and having been working in these markets since more than 12 months, were included. Results: In this study, 103 subjects were selected, including 43 millers and 61 sellers. Their average age was 29 ± 13 years. The sex ratio was 0.49. The average length of service in the profession was 8 years with the extremes of 3 months and 47 years. They were exposed to noise on average 10 hours per day and 6 days a week. The average duration of weekly noise exposure was 23 h 28 min ± 13 h 32 min with the extremes of 5 h 00 min and 52 h 30 min. The average level of noise exposure was 90 dB with the extremes of 72 and 110 dB. 24 subjects reported symptoms related to noise such as headache, tinnitus, and hearing loss, with respective proportions of 22.33%, 20.39% and 06.80%. The prevalence of noise-related hearing loss was 26.21% (n = 27/103). Subjects with a notch at 4000 Hz and normal Average Hearing Loss (AHL) (20.39%) had a seven-time greater risk of developing noise-induced hearing loss (OR = 6.58;95% CI [2.54 - 18.8], p Conclusion: Hearing loss related to the noise of mills affected both millers and sellers near the mills in markets, hence the importance of regulating mills.
