...and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Economic and Political Weekly is collaborating with JSTOR to digitize, preserve and extend access to Economic and Political Weekly. http://www.jstor.org This content downloaded from 103.4.92.53 on Fri, 28 Nov 2014 09:41:36 AM All use subject to JSTOR Terms and Conditions COMMENTARY Power OPECs Price-Making ^= BANDYOPADHYAY KAUSHIK RANJAN of The Organisation Petroleum is Countries a Exporting of dominant cartel consisting withlargereserves producers its and ithas alwaysexercised inthecrude power price-making in oil market. However, thepast opec has been few years, that claiming ithas lostitspower The crudeoil prices. to alter whether opec's article explores claimis correct. is at (kaushik.banerjee@gmail.com) the AsianInstitute Transport of Development, NewDelhi. l8 Kaushik Ranjan Bandyopadhyay opec was In the early1980s,however, likea "clumsy ofbehaving accused often cartel"3with a clear presenceof nonbehaviour amongsomeofits cooperative with relativelylower crude members and Indonesia reserves (likeQatar, Algeria, of On account lower reserves, ofthedeveloped,...
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...L’Impact des Ressources Naturelles sur la Croissance et le Développement : le Rôle des Institutions Mémoire de Master 1 Université Paris 1 Panthéon Sorbonne I) Introduction : Intuitivement, on s’attend à ce qu’une économie richement dotée en ressources naturelles ait un avantage sur les autres puisqu’elle a accès plus facilement à un input. Elle devrait donc croître à un rythme plus rapide qu’une économie ne disposant pas de ces ressources, toutes choses égales par ailleurs. En ce sens, être un pays riche en ressources naturelles devrait être une « bénédiction ». Or, l’hypothèse de « resource curse » -selon laquelle les pays qui disposent de dotations en ressources naturelles abondantes ont tendance à avoir des taux de croissance plus faibles que les autres pays- semble prouver le contraire. Sachs et Warner mettent en évidence cette relation dans leur article clé en 1995. En prenant un large échantillon de pays en développement, ils trouvent que sur la période 1971-89, ceux dont la part des exportations de matières premières rapportées au PIB est élevée ont des taux de croissance plus faible, toutes choses égales par ailleurs. Une littérature abondante existe sur ce sujet et les explications avancées pour rendre compte de cette découverte empirique sont nombreuses. Il est en effet important de comprendre les mécanismes en jeu afin de mettre en place les politiques de développement efficaces. Certains mettent en avant la « Dutch Disease », d’autres la volatilité des prix...
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...This front sheet must be completed by the learner where appropriate and included with the work submitted for assessment. Unit: 1 Fundamentals of Science Course: Extended Diploma in Applied Science (Forensic and Medical Science) (15VF0270) |Learner Name (Please enter your name): | | |Assessor Name: Claire Watkins |Issue Date: |End Date: | | | | | | |Group 1: 5.10.15 |Group 1:19.10.15 | | |Group 2: 6.10.15 |Group 2: 20.10.15 | |Assignment Title: Scientific Reports and Communication |Assignment Ref (if used): 1.3 | |Assessment Criteria |Achieved |Evidence Location |Comments/feedback from assessor | |P7 – Carry out a practical investigation into the |Yes/No |Scientific Report | ...
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...POLICY RESEARCH WORKING PAPER 1667 Dealing with Commodity Price Uncertainty Plantos Varangis Dont Larson Market liberalization has increased the appeal of commodity derivative instruments (such as futures, options, swaps, and commodity-linked notes)as a means of managing price uncertainty. many In emerging countries both government and the private sector are increasinglyusing these instruments. The World Bank International Economics Department Commodity Policy and Analysis Unit October 1996 POLICYRESEARCH WORKINGPAPER1667 Summary findings Liberalization in commodity markets has brought profound changes in the way price risks are allocated and managed in commodity subsectors. Price risks are increasingly allocated to private traders and farmers rather than absorbed by the government. The success of market reform depends on the ability of the emerging private sector to make full use of the available range of modern commodity marketing, price risk management (such as futures, options, swaps, commodity bonds, and so on), and financing instruments. Because farmers do not generally have direct access to these instruments, interinediaries must be developed. Larger private traders and banks are in the best position to become these intermediaries. Preconditions needed for accessing modern commodity marketing, price risk management, and financing instruments are: * Creating an appropriate legal, regulatory, and institutional framework. * Reducing government...
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...CHAPTER 3 The Competitive Environment Learning Objectives Upon completing this chapter, you should be able to: Identify the structural characteristics of the environment faced by the firm and how these drivers influence both competition and value creation Choose the appropriate level of specificity in environmental analysis, depending on the locus of the decision-making group Predict how changes occurring in the environment might influence future competition and value creation Incorporate understanding of environmental changes into the development of strategy Consider options for influencing changes in the firm’s environment so as to improve future value creation Analyze customers and competitors to develop a competitive advantage and strategy Appreciate that strategy is realized in the future: decisions are made now but their realization occurs in the future In late 2000, GE proposed to take over Honeywell. Both these firms are U.S.-based, and the value of the merger was $USB42. But a merger between two such large firms has global implications and ramifications. Although the U.S. Federal Trade Commission (FTC) had approved the merger, the European Union (EU) decided to oppose it on the grounds that it had the potential to reduce competition in Europe. Its concern was that GE’s strong position in the manufacture of jet engines and its ability to offer finance, if added to Honeywell’s aviation electronic business, would allow the merged entity to bundle their products together...
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...sustainability report 2011 The idea is an ancient one. Often, the marks seem like enigmas. They contain hidden meaning, waiting to be rediscovered. Sometimes they wait thousands of years. This ancient idea is still very much alive. Ideas, thoughts, insights, confessions, promises, lies, vows... Who can measure the feelings expressed? Comprehend the joy and pain? Grasp the passion? Who can say how much has been written, drawn, sketched, designed, painted, in the history of mankind? Who can say how much has not been written, drawn, sketched, designed, painted simply because there was no pen to hand? Editorial Count Anton-Wolfgang von Faber-Castell, Chairman and CEO of Faber-Castell AG The values of any well-managed family business must include sustainability, social and environmental responsibility, and human virtues such as tolerance, humbleness and honesty. My great-great-grandfather, Lothar von Faber, was a businessman of great social dedication, and his descendants have followed his example as a matter of duty. The Social Charter signed in 2000 prohibits discrimination and child labour and protects our employees against exploitation. The agreements of the International Labour Organization (ILO), to which the Charter commits us, are for me no more than natural standards for anyone engaged in business. In order to achieve long-term success, you have to think in terms of the future. For me as a businessman it is extremely important not...
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...issertationThe Pennsylvania State University The Graduate School College of Earth and Mineral Sciences PORE-SCALE IMAGING AND LATTICE BOLTZMANN MODELING OF SINGLEAND MULTI-PHASE FLOW IN FRACTURED AND MIXED-WET PERMEABLE MEDIA A Dissertation in Energy and Mineral Engineering by Christopher James Landry © 2013 Christopher James Landry Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy May 2013 The dissertation of Christopher James Landry was reviewed and approved* by the following: Zuleima T. Karpyn Associate Professor of Petroleum and Natural Gas Engineering Dissertation Adviser Chair of Committee Li Li Assistant Professor of Energy and Mineral Engineering Russell T. Johns Professor of Petroleum and Natural Gas Engineering Maria Lopez de Murphy Associate Professor of Civil Engineering Luis Ayala Associate Professor of Petroleum and Natural Gas Engineering Associate Department Head for Graduate Education *Signatures are on file in the Graduate School ii ABSTRACT Three investigations of pore-scale single-phase and multiphase flow in fractured porous media and mixed-wet porous media are presented here. With an emphasis on validating and utilizing lattice Boltzmann models in conjunction with x-ray computed microtomography. The objective of the first study is to investigate fracture flow characteristics at the pore-scale, and evaluate the influence of the adjacent permeable...
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...ANNUAL REPORT 2014 1. HIGHLIGHTS The financial and operating highlights for Air Canada for the periods indicated are as follows. FOURTH QUARTER CANADIAN DOLLARS IN MILLIONS, EXCEPT WHERE INDICATED 2014 2013 FULL YEAR $ Change 2014 2013 $ Change FINANCIAL PERFORMANCE METRICS Operating revenues 3,104 2,894 210 13,272 12,382 890 106 135 (29) 815 619 196 (206) (141) (65) (710) (617) (93) (100) (6) (94) 105 10 95 67 3 64 531 340 191 3.4% 1.8% 1.6 pp 6.1% 4.3% 1.8 pp 3.4% 4.7% (1.3) pp 6.1% 5.0% 1.1 pp 319 277 42 1,671 1,433 238 319 359 (40) 1,671 1,515 156 Operating income Non-operating expense (1) Net income (loss) Adjusted net income (2) Operating margin, excluding the impact of benefit plan amendments % (3) Operating margin % EBITDAR, excluding the impact of benefit plan amendments (3)(4) EBITDAR (4) EBITDAR margin, excluding the impact of benefit plan amendments % (3)(4) EBITDAR margin % (4) 10.3% 9.6% 0.7 pp 12.6% 11.6% 1.0 pp 10.3% 12.4% (2.1) pp 12.6% 12.2% 0.4 pp Unrestricted liquidity (5) 2,685 2,364 321 2,685 2,364 321 Free cash flow (6) (366) (276) (90) (560) (231) (329) Adjusted net debt (7) 5,132 4,351 781 5,132 4,351 781 Return on invested capital (“ROIC”)...
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