Industrial Organization and Regulation

CENTRAL ASIA AND THE CAUCASUS 88 to its length and excessively high environmental demands. The route from East Siberia is realistic, but the sale of East Siberian blue fuel at a privileged price, which China is insisting on, is only possible providing that Russian companies have access to the distributing assets of China's gas corporations.

As a country in transition and development, committed to the path towards membership in the European Union, Bosnia and Herzegovina encounters many challenges and obstacles in terms of fulfilling the tasks set before it. Quite complicated governmental and legal arrangement determines the pace of achieving the tasks that are prerequisites for the European Union membership status. By signing the Stabilisation and Association Agreement, Bosnia and Herzegovina assumed the obligation to gradually harmonise the national legislation with the EU legislation in the most important areas related to the internal market. In this context, one of highly important ones is the area of competition law. This paper analyses the quality of solutions provided by the normative and institutional framework of the market competition protection in Bosnia and Herzegovina by using the normative, historical, comparative, and content analysis methods. Basic features of the Stabilisation and Association Agreement between Bosnia and Herzegovina and the EU are presented through a chronological summary of the integration process of BiH into the EU. The key issue discussed in this paper is that the recent legislative solutions pertaining to the organisation and method of operation of the competition body in Bosnia and Herzegovina, which is the reflection of state arrangement, slows down and impedes the harmonisation of competition regulations in line with the tasks laid down before Bosnia and Herzegovina on its path towards the EU membership. Analytical overview of annual reports on the operation of the Council of Competition as regulatory body in Bosnia and Herzegovina shows that competition is a typical example of the 'crawling' integration of Bosnia and Herzegovina to the EU. It is quite obvious that the lack of political will of the ruling structures slows the integration processes down. This area requires an efficient enforcement of competition regulations whose implementation enables the companies to act in line with the law. Without adequate and prompt amending of the Law on Competition and related by-laws there can be no positive evaluation of the European Commission concerning the progress of Bosnia and Herzegovina.

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Alistair specialises in the economic analysis of trade practices, competition policy and regulatory instruments. He has advised prominent firms involved in the downstream petroleum industry, grocery retailing, credit/charge card issuance, agriculture and electricity generation, as well as various industry associations and Commonwealth and State government agencies. Alistair holds a Masters degree in economics from the University of Melbourne and a professional doctorate from the Australian National University where he examined the competitive effects of horizontal agreements in the downstream petroleum industry. Alistair has been published in refereed economic journals writing on competition law and petrol prices. About Sapere Research Group Limited Sapere Research Group is one of the largest expert consulting firms in Australasia and a leader in provision of independent economic, forensic accounting and public policy services. Sapere provides independent expert testimony, strategic advisory services, data analytics and other advice to Australasia's private sector corporate clients, major law firms, government agencies, and regulatory bodies.

The latest reports the ministry of information and broadcasting support that there will be increasing demand for highspeed internet services in the wake of Digitalisation of the holistic service and manufacturing industry in India. Internet services are grown beyond entertainment, online chatting and social media engagement by the young generation of India. Information Technology Act, 2000 (21 of 2000) clearly mentions that accessibility of online curated content maybe improved for persons, so that several e-sevas of the government is reached to every single individual at the bottom of the pyramid. The Information Technology Act, 2000 enabled India to formulate its Digital India policy to transform the Governance and Administration (E-Governance) at the several fronts of Socio-Economical betterment of the society and making the services more transparent, quick and transparent. The proposed study aims at assessing the consumer-based Brand Equity of highspeed internet service providers in India, which may be helpful for the various stakeholders of the industry to opt for the best of the brands of internet service providers. The research study is based on empirical survey data in the context of David Aaker's conceptual model of Consumer based Brand Equity.

Uno de los sectores económicos estratégicos más importantes en cualquier economía es el Mercado de Energía Mayorista, cuya característica fundamental es que se trata de un mercado oligopolístico, provocado por la barrera de entrada que supone tener economías de escala. De esta manera, los agentes pueden presentar comportamientos estratégicos que contribuyen a la maximización de sus utilidades, los cuales se ven reflejados en la oferta diaria del precio y de la cantidad de energía por hora en cada una de sus centrales de generación. En este trabajo se presenta una metodología para la estimación de los precios diarios a los que ofertan la energía que producen los principales recursos hídricos y térmicos en Colombia. Se emplean dos herramientas de Inteligencia Artificial: la Lógica Difusa y las Redes Neuronales. Dichas técnicas resultan ser parcialmente efectivas para seguir las tendencias de dichos precios. También se comparan los resultados con los de modelos autorregresivos, que res...

El propósito de este trabajo es analizar la viabilidad de la utilización del índice de oferta residual (IOR) en el mercado eléctrico mayorista en Colombia, con el fin de promover la competencia. Esto se hace a partir de la revisión de la literatura relacionada con las experiencias internacionales respecto a los mecanismos para monitorear el

, Colombia. John García agradece a la Universidad del Norte por la invitación a participar como ponente en la VI Cátedra de Economía del Caribe: Regulación y generación de energía en el Caribe y Colombia. Además, los autores agradecen a la Universidad EAFIT por apoyar esta investigación a través de la financiación del proyecto 828-000134. Esta investigación también se desarrolló en el marco del Programa de Investigación "ENERGETICA 2030", con el código 58864 de la iniciativa "Colombia Científica", financiado por el Banco Mundial a través de la convocatoria "778-2017 Ecosistemas Científicos", administrado por el Departamento Administrativo de Ciencia, Tecnología e Innovación-COLCIENCIAS.

The purpose of this paper is to present a short introduction to the geopolitical importance and impact of energy resources on the definition of the legal status of Caspian body of water. The legal status of the water is regulated in accordance with international conventions or international law, and depends of the definition of water, as a sea or as a lake. The kind of water actually has a direct impact on the method of sharing of its natural resources. In the Caspian case, precisely because of its resources, (gas and oil), the issue of legal status is still open. In relation to this issue, research has shown that the position of five Caspian countries depends of their interest and benefits of the natural resources. The conclusion is that the energy resources are the primary factor for regulation of the legal status of Caspian body of water, whilst the pipeline network balances the world energetic stability.

Uno de los sectores económicos estratégicos más importantes en cualquier economía es el Mercado de Energía Mayorista, cuya característica fundamental es que se trata de un mercado oligopolístico, provocado por la barrera de entrada que supone tener economías de escala. De esta manera, los agentes pueden presentar comportamientos estratégicos que contribuyen a la maximización de sus utilidades, los cuales se ven reflejados en la oferta diaria del precio y de la cantidad de energía por hora en cada una de sus centrales de generación. En este trabajo se presenta una metodología para la estimación de los precios diarios a los que ofertan la energía que producen los principales recursos hídricos y térmicos en Colombia. Se emplean dos herramientas de Inteligencia Artificial: la Lógica Difusa y las Redes Neuronales. Dichas técnicas resultan ser parcialmente efectivas para seguir las tendencias de dichos precios. También se comparan los resultados con los de modelos autorregresivos, que res...

El presente artículo sintetiza los resultados de la investigación: «Medición del Impacto Económico de La Empresa Mineros S.A. en su zona de Influencia: Una aproximación desde los flujos monetarios y el empleo regional», culminado en Mayo de 2006. Desde el punto de vista metodológico, para la realización del estudio se buscó una aproximación a la medición y distribución del impacto mediante la consideración de los flujos monetarios que se originan en la empresa y se irrigan en la región, con sus efectos multiplicadores; así como por sus implicaciones en el empleo, tanto los directos, como los indirectos y los inducidos. Mineros S.A. es una empresa colombiana que trabaja en el municipio de El Bagre, en el departamento de Antioquia. Su producción anual de Oro es aproximadamente 2,8 ton, y lleva trabajando en la región desde hace más de 35 años. En el artículo se muestra que Mineros S.A. aportó en el año 2005 a la región un flujo total de recursos de $16.137 millones. De éste flujo originado en la empresa, el valor agregado que permaneció en la región (Riqueza Neta), luego de descontar la compra de suministros de las diferentes actividades, fue de $8.402 millones. Es importante notar que la riqueza bruta representa, sin incluir el valor de la producción de oro, aproximadamente el 11% del PIB del municipio de El Bagre. En términos de generación de empleo, Mineros S.A. impacta a la región con 2.459 empleos, que representan un 23% del empleo total de El Bagre. Las relaciones intersectoriales muestran, por su parte, una contribución de Mineros S.A. no muy relevante en el nivel de demanda intermedia o compra de insumos (aunque si en términos de demanda final), lo cual sugiere un campo en el cual la empresa podría profundizar sus lazos con la economía regional.

The CASE Network is a group of economic and social research centers in Poland, Kyrgyzstan, Ukraine, Georgia, Moldova, and Belarus. Organizations in the network regularly conduct joint research and advisory projects. The research covers a wide spectrum of economic and social issues, including economic effects of the European integration process, economic relations between the EU and CIS, monetary policy and euro-accession, innovation and competitiveness, and labour markets and social policy. The network aims to increase the range and quality of economic research and information available to policy-makers and civil society, and takes an active role in ongoing debates on how to meet the economic challenges facing the EU, post-transition countries and the global economy.

In a Bertrand competition experiment, we study the impact of two cognitive primes on strategic behaviour at first encounter and over time. With this aim, instructions are slightly modified to imprint one of the two incentive features present in a standard Bertrand duopoly: the winning rule (competition) and the winner's payoffs (cooperation). Therefore, under a between-subject design, we examine pricing behaviour in three treatments: a Competition Priming treatment, a Payoff Priming treatment and a non-priming Baseline. Taking the Baseline as benchmark, the results show that whereas priming for competition reduces significantly market prices from the beginning, priming for payoffs holds market prices at a significantly high level for a longer period. However, the effect of priming fades over time.

El propósito de este trabajo es analizar la viabilidad de la utilización del índice de oferta residual (IOR) en el mercado eléctrico mayorista en Colombia, con el fin de promover la competencia. Esto se hace a partir de la revisión de la literatura relacionada con las experiencias internacionales respecto a los mecanismos para monitorear el

National Competition Policy (NCP) has been a highly contentious public policy issue in Australia since its introduction in 1995. This paper examines the development and implementation of NCP, and its relationship to other modalities of state restructuring such as privatisation. We also analyse selected aspects of NCP in operation, including issues of market failures such as the 1998 gas, electricity and water supply crises; the role of competition regulators in the labour market; and issues of public interest. We track changes in the way NCP has been enforced by the regulatory authority, the Australian Competition and Consumer Commission, which is taking an increasingly interventionist approach to labour market issues, but a more laissez-faire approach to other markets. These developments are analysed in the context of a globalised economic system dominated by large business corporations that often do not operate in classic, competitive markets. The forces of globalisation and the development of a strong community backlash against NCP in rural and regional Australia are placing increasing pressure on Australian competition policy as it is currently configured. T he federal Australian Labor governments of 1983-1996 and the Liberal-National Coalition government (1996-) have prided themselves on their attempts to make the Australian economy more internationally competitive through a program of

Last year a special issue of this journal discussed 'Australia's Economic Boom 1992-?' It offered a rich and informative variety of nonneoclassical analyses of the period. However, there was relatively little investigation of Australia's experience in relation to that of the rest of the world. The international economy may have been a taken-for-granted basis for many of the contributions and for some this was explicit

Energy security has emerged in recent years as one of the cornerstones of the European Union’s (EU’s) foreign policy. The EU is highly dependent on imports of oil and gas, 35 per cent of which comes from Russia. Diversification of energy supplies is thus a key goal for the EU. The Caspian region contains some of the largest undeveloped oil and gas reserves in the world. The intense interest shown by the major international oil and gas companies testifies to its potential. Although the area is unlikely to become “another Middle East”, it could become a major oil supplier at the margin, much as the North Sea is today. As such it could help increase world energy security by diversifying global sources of supply. Development of the region’s resources still faces considerable obstacles. This study focuses on the countries along the southern rim of the former Soviet Union that are endowed with significant oil and gas resources: Kazakhstan, Turkmenistan and Uzbekistan in Central Asia, and ...

Mexico is one of the few OECD countries where local loop unbundling has not been regulated. Local loop unbundling (LLU) was one policy promoted during the 1990’s by several administrations in order to foster competition in the local loop. However, after observing the consequences of local loop unbundling in several countries, it is still not clear whether this policy could be beneficial or not. In this paper we discuss possible consequences of unbundling the local loop in Mexico.

Interventions by way of Universal Service Funds (USF) are considered to be relatively less market distorting among various means used to bridge the access gap in telecommunications. At least in theory, they are not inconsistent with competition and competitive neutrality. However, in practice this has always not been the case. It is the author’s contention that this difficulty arises more from the manner in which USFs are implemented, which in turn depends partly on their regulatory frameworks, rather than from an inherent problem with the concept of USFs. Particularly, in developing countries like India with less than perfectly efficient institutions, appropriate ex ante regulatory frameworks assume importance. To explore if India could take a leaf from the European Commission’s (EC) book as far as universal service regulation is concerned, a comparative study of the impact of the legal frameworks for universal service in India and the European Union has been carried out with the r...

This paper studies the development possibilities of the energy systems of four Central Asia and Caspian countries. It explores options that improve their domestic energy efficiencies and increase their export of fossil energy commodities. Using the MARKAL-TIMES modelling tool, it represents their energy system with a bottom-up partial economic equilibrium growth model. With the help of scenario analyses, it evaluates the direct economic advantage of improving the domestic energy efficiencies. Furthermore it calculates the direct economic advantage of cooperation. It finds out that a new/different geo-economic attitude brings USD billions of annual economic benefits, particularly if the countries aim to differentiate their export routes, increase the amount of export and contribute to climate change mitigation.

This paper describes a comprehensive study about the revival plans 2022 & 2019 proposed/implemented by the Government of India as a part of one of the measures to revive the BSNL, one of the Government of India Telecom PSU in India. Due to the prevailing conditions in BSNL, non-introduction of 4G mobile services, non-up gradation of the core network, outsourcing of the maintenance of the old underground copper cable network, provisioning of wired services through Telecom Infra Providers (TIP) location-wise on revenue sharing basis, etc. Also due to the severe competition prevailing in the Indian Telecom mobile sector, the convergence of technology and the advancement to reach the last mile is a challenging task for the Mobile operators. The introduction of 5G mobile services in India is under the final stage by the private mobile telecoms, expecting high-speed internet up to 100 Mpbs, which will be utilized for various industrial, commercial & research applications. With the high-speed data access provisioning, implementation, and integration of new technologies like M2M communication, IoT, AI, and Black chain technology, Cloud Computing application projects can be introduced in totality whereas presently most of the applications purely depended on wired communication. Some of the projects like Power sector Operation & utilizing smart metering applications for HT & LT services, monitoring of power distribution system through SCADA projects, Water distribution system SCADA project, and Smart City application in which monitoring from the centralized DASH board of all the smart poles, smart signalling, smart bus stations, and the terminals, SONAR, RADAD, GPS applications using in the Fishing activities monitoring, smart agriculture using DRONE technologies, DIP irrigation operating remotely, Various marine applications, Defence applications like the movement of the War ships, submarines are the some of the real-time monitoring application with high-speed internet access.

Resumen Este paper utilizando un modelo de regresión con estructura ARCH, analiza el efecto de la implementación de algunas medidas regulatorias y de variables fundamentales (relación entre la demanda comercial y la disponibilidad real, El Niño y los aportes hidrológicos) en el Mercado de Energía Mayorista en Colombia sobre el precio spot. Los resultados obtenidos evidencian que las regulaciones establecidas por la Comisión de Regulación de Energía y Gas, han impactado estadística y significativamente el precio spot. Además, El Niño y los aportes hidrológicos presentan un impacto positivo y negativo, respectivamente sobre el precio spot, debido a la gran participación hidráulica de este mercado.

Despite the tremendous growth of mobile services in most developing countries, these have largely remained limited to urban areas. This has further aggravated the existing urban and rural divide. Policy makers and regulators perceive the need for an effective regulatory and policy environment to reduce the gap, as there are several market challenges in this endeavor, including low commercial viability. However, most such interventions have had little success. This paper outlines India's experience of increasing rural teledensity, including its recent policy initiative to increase penetration through creation of a Universal Service Obligation Fund (USOF) that supported a variety of innovative initiatives. USOF's most ambitious program to date had been the design and deployment of mobile services in rural areas. This paper analyses the outcomes of various programs, especially those of the mobile service provision component of USOF. Despite the innovative design of the USOF program, it had little impact on increasing rural teledensity. On the other hand, positive policy steps that reduced the costs for service provision (revenue shares, duties, ADC) and competition facilitated greater rural penetration. This raises the issue of role of government vis-à-vis private sector in increasing rural teledensities. The lack of accountability arising from the relationship between the government owned incumbent and the USOF administrator and proper evaluation of USOF, the non-ring fencing of the fund and poor quality project management contributed to the low impact. Non-involvement of private operators at an early stage, inability to suitably enforce any penalties for violation of contracts, and nonexistent review and feedback mechanism have not allowed USOF to leverage the benefits of an early start. In Peru, strict penalties in non implementation of contracts led to more timely schedules (Cannock, 2001). Since USOF is a highly visible program, it is important to generate high impact outcomes. On the strategic front, USOF needs to be managed by an independent body that is made responsible for outcomes. Third party assessments and greater enforceability of contracts are necessary operational elements of this design. Without this operational framework, the strategic elements of design will not provide the value that was envisaged. This paper also provides a framework for assessment of USOF and relates it to the experience in other countries. USOF must be treated as one among many instruments for increasing rural teledensities and efforts should be made to facilitate policy outcomes on a variety of dimensions.

Telecommunication growth, being a complex and dynamic technoeconomic phenomenon, is the integrated interaction of a large number of technical, social and economic forces (MIKEROV, 1998). CRONIN et al (1991) confirmed the existence of a feedback process whereby economic activity and growth stimulates demand for telecommunication services. Territories vary greatly in their level and distribution of income and industrial structure, especially in developing countries such as India. Income patterns decide disposable income levels and hence purchasing power levels for communication services. Population density, demographic shifts (joint to nuclear families, rural/hills to urban/planes), customer behavior patterns and network externalities have a significant influence over growth and demand for services (DUTTA, 2001).

In the present paper, an attempt is made to examine the nexus between the macroeconomic variables and the CO 2 emissions from road transport sector in Malaysia. Using vector error correction model during 1980 to 2009 period, the empirical results show that there is an evidence of a long-run relationship among the variables. The findings of this research also indicate that a bi-directional relationship exist between the number of vehicles and CO 2 emission in the short- run.

This thesis consists of three related essays, which develop the framework to study multilateral bargaining and strategic investments under three different environments. The introduced novel methodologies are applied to analyze developments in the Eurasian gas supply chain. The first analytical part of the thesis concerns multilateral bargaining Russia and transiters for its gas, Ukraine, Belarus, and Poland. The players are assumed to be heterogeneous, some lacking the ability to make long-term commitments. We apply a two stage game to analyze distortions of investments into the pipeline system supplying Russian gas to Western Europe. Our qualitative and quantitative analysis provides a strategic rational behind excess capacities, which were built, and explains over/underinvestment as an attempt to create countervailing power. The second part of the thesis deals with multilateral bargaining and coalition formation issues in the presence of externalities. We study whether two competi...

The telecom sector has gained massive growth in India. It has 1.8 million subscribers and it is the world’s second largest telecom sector. Currently telecom sector has drastically changed their structure and technology. The 4G spectrum has changed the customer’s perception and motivation. The objective of the study is to explore the future opportunities of Indian telecom sector. For this purpose, PEST analysis was used. There was a lack of studies that focused on the Political, Economic, Social and Technological areas of the telecom sector. The study found that there are opportunities in rural telecom sector but they are not utilized in the proper manner.

The Frontino Gold Mines Company (FGM) is located in Segovia, in Antioquia, Colombia. The mineral transporting is made in an expensive and inefficient process where trucks are used to transport the material throughout 6.5km by ways in regulate condition, with high slopes and that go into the town of Segovia. It looks alternatives for an efficient and economical transporting process. For that, this article analyzes the technical and economic prefeasibility of a railway system to transport mineral from the SandraK mine to the benefit plant Maria Dama. A specialized railway system for mining characteristics is propose for transporting 300t/day within 12 hours initially with two trains of electrical locomotives dragging 14 wagons each one. At the mind time its cargo capacity increases gradually to 800t/day. The geometric railway design has a maximum speed of 20km/h, minimum radios of 20m, rail gauge of 600mm, predominant slope of 2% and the use of transition curves Clotoide type. Two alternatives are considered. The alternative A has a length of 4.4km, combining the railway system with an underground conveyor belt of 150m of length with a slope of 30º connecting the mine in its interior. The railway system presents a tunnel of 860m of length which also serves as tunnel guide for the future material exploitation. The alternative B has a length of 8km. It is totally to open sky. Costs of construction, investment, operation and maintenance are considered in 20 years.

National Telecommunications policies have been differentiated together with the extension of international trade, increasing importance of information in trade and the convergence of telecommunications, broadcasting and computing sectors. with the influence of these global factors, the subject of this thesis is the study of Mexican and Turkish national telecommunications policies regarding with the deregulation in telecommmunications service sector.M.S. - Master of Scienc

The purpose of this paper is to determine the factors that have allowed dominant carriers to maintain their monopolies in spite of regulatory efforts to introduce competition. The paper focuses exclusively on interconnection because it is the element that allows non-dominant companies to enter a market. Two existing theoretical frameworks and two others developed in this research explain the factors that have limited the ability of regulators to achieve their competition goal:(1) asymmetric information,(2) capture theory,(3) minimum compliance ...

, Colombia. John García agradece a la Universidad del Norte por la invitación a participar como ponente en la VI Cátedra de Economía del Caribe: Regulación y generación de energía en el Caribe y Colombia. Además, los autores agradecen a la Universidad EAFIT por apoyar esta investigación a través de la financiación del proyecto 828-000134. Esta investigación también se desarrolló en el marco del Programa de Investigación "ENERGETICA 2030", con el código 58864 de la iniciativa "Colombia Científica", financiado por el Banco Mundial a través de la convocatoria "778-2017 Ecosistemas Científicos", administrado por el Departamento Administrativo de Ciencia, Tecnología e Innovación-COLCIENCIAS.

The objective of the paper is to identify the barriers for interdisciplinary decision-making in production, logistics, and traffic & transport. The paper will give an answer to the question, why decision makers in production, logistics, and traffic & transport often do not include/consider affected parties of their value chain in their decision-making processes and how decision makers can be enabled to make more integrated decisions. In this paper, a twofold research design is implemented. At first, the authors build basic knowledge about existing interdependencies by conducting a role-play with experts from the different disciplines production, logistics, and traffic & transport. Building upon the findings a case study is conducted again including parties from production, logistics, and traffic & transport in order to build theory about the barriers for interdisciplinary decision-making. The results show that it can be distinct between four different types of relevant barriers for ...

El objetivo de este escrito es analizar el desempeno del Mercado Electrico Mayorista - MEM en los veinte anos de existencia. Despues de describir el funcionamiento del mercado spot, el mercado de largo plazo y el cargo por confiabilidad; se analiza el efecto de variables como el fenomeno de El Nino, el nivel de embalse, la relacion entre la disponibilidad real y la demanda comercial y algunos efectos de cambios regulatorios sobre el precio spot. Tambien a traves de un modelo estocastico se establecen algunas recomendaciones de como mejorar el funcionamiento de este mercado con la implementacion de contratos estandarizados teniendo en cuenta las experiencias internacionales. A pesar del avance del mercado en estos veinte anos de funcionamiento, aun quedan aspectos por resolver, como la implementacion de contratos de largo plazo estandarizados, redes inteligentes y la disminucion del umbral para acceder al mercado no regulado, pues estos aspectos ayudarian a disminuir el precio spot.

autores agradecen a EAFIT y COLCIENCIAS por su apoyo financiero, ya que este artículo es el resultado del proyecto "Estimación del precio marginal del sistema eléctrico colombiano: una mirada desde la organización industrial" del programa 566 jóvenes investigadores de Colciencias y la Universidad EAFIT.

We analyze a setting typical of industries right after liberalization, or after structural demand and technology changes. An incumbent firm has an exogenous capacity, and a new entrant has to set its capacity level. We find that, in a dynamic context, higher capacity increases the severity of punishment after deviation, thereby favoring the emergence of cartels. The cartel in this case could hurt welfare, not only because of the standard deadweight loss motive, but also because of the cost inefficiency due to high and idle capacity. We conjecture that a competitive arrangement could be both welfare enhancing and profit-maximizing for the incumbent.

Energy is a main input for economy. Because of an increase in other fossil fuels' prices and it's accepted as an important resource for energy supply for the countries which don't have enough oil and natural gas resources, shale gas became a current issue in the world. Technically producable shale gas in the world is about 6.621 bcm (billion cubic meter). We can say that this amount may be higher if unsought areas are added. Turkey is one of the countries which has shale gas potential. According to a report published by EIA in 2011, Turkey has approximately 424 billion cubic meter shale gas reserves. This shale gas potential can reduce Turkey's energy dependence if we think of the fact that annual natural gas consumption of Turkey is 46 bcm. Despite all, production of shale gas has not been searched in terms of it's advantages and disadvantages. The aim of this study is to present the advantages and disadvantages of shales gas for the world and Turkey. Reducing e...

This article analyzes the tradeoffs between the environmental and social dimensions in sustainable mobility policies. We focus on the Italian context, where car dependency is a particularly prominent feature of the transportation system. During the past decade, many local administrations have promoted policies to foster more "sustainable mobility" as a way to manage congestion and reduce environmental pollution. However, these initiatives have often missed an important sustainability pillar: improving the accessibility of the most vulnerable to economic and social resources. This issue may have implications for social justice because access to mobility is an important dimension of inequality. A proposed framework identifies some possible tradeoffs related to sustainable mobility policies, concerning mediumto long-range mobility and short-range mobility. The article argues that, paradoxically, policies fostering mobility may lead to environmental pollution (e.g., low cost airlines), and that policies to contain the environmental impacts of mobility may harm social justice (e.g., environmental taxation) in the absence of strong promotion of collective transportation. Finally, we analyze possible solutions to reach sustainable accessibility.

The CASE Network is a group of economic and social research centers in Poland, Kyrgyzstan, Ukraine, Georgia, Moldova, and Belarus. Organizations in the network regularly conduct joint research and advisory projects. The research covers a wide spectrum of economic and social issues, including economic effects of the European integration process, economic relations between the EU and CIS, monetary policy and euro-accession, innovation and competitiveness, and labour markets and social policy. The network aims to increase the range and quality of economic research and information available to policy-makers and civil society, and takes an active role in ongoing debates on how to meet the economic challenges facing the EU, post-transition countries and the global economy.

Modelo para el pronostico del precio de la energia electrica en Colombia Resumen: En este trabajo se investigan los factores que determinan el precio de la energia electrica en el Mercado colombiano. Tambien se lleva a cabo un ejercicio de pronostico de largo plazo para los precios de la energia transados en la bolsa energetica, para este proposito utilizamos tecnicas de vectores de correccion de errores y el enfoque de redes neuronales. La conclusion mas relevante es que dado el ambiente optimista que rodea la economia colombiana para los proximos anos, los precios de la energia en el largo plazo tendran una tendencia al alza. Palabras clave: precio, demanda, oferta, funcion de impulso-respuesta, vectores, redes neuronales. Clasificacion JEL: C22, C26, C45, D43, L94 A model for forecasting electricity prices in Colombia Abstract: This paper investigates the factors that determine electric power prices in the Colombian market. In addition, we carry out a long-run forecasting analysi...

The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.

Managing employees' trust on the organization, during mergers and acquisitions is definitely a critical leadership challenge in today's global environment. Prior leadership research has been an evidence of how a leader communicates during a downsizing event with the employees who would be expected to feel more vulnerable can create the foundation for future trust in the leader.

Objective: When considering the climate change vulnerability of the Colombian electricity sector and the possible risks that may arise, such as: non-compliance with firm energy obligations (FEO) by generation units, delays in generation projects with firm energy commitments (the Hidroituango case, among others) and the availability of firm energy in the market, imply a systemic risk for the provision of electricity in the medium term. Therefore, this article performs a risk analysis based on the forecasts and considerations applied in official technical documents and current resolutions of the Energy and Gas Regulation Commission (CREG) in the demand balance and OEF in the medium term, in order to determine the existing risk and the actions that the entity must take to mitigate it. Análisis Del Riesgo De La Cobertura De Energía Firme En Colombia A Mediano Plazo Moreno-Chuquen., r., & Cantillo-luna., S. Tecnura • p-ISSN: 0123-921X • e-ISSN: 2248-7638 • Vol. 24 No. 64 • Abril – Junio ...

In this paper, we investigate the theoretical and empirical relevance of the distinction between generic goods and specific goods for the understanding of freight transport demand. Specific goods are Taylor-made for a single customer while generic goods are produced irrespective of the final customer who will buy them. Theoretically, the distinction lays on a different relationship with time, based for specific goods on a trade-off between transport duration and cost, and for generic goods on optimal stock. The ...

Manufacturing firms buy transport services with the aim of minimizing their total logistics cost. There is a large amount of literature analyzing how shippers value the various characteristics of a transport service, mostly performed by collecting stated-preference data and estimating discrete choice models. Most of the empirical studies specify the deterministic part of the utility functions as linear in the observed attributes. This implicitly constrains the characteristics of the analyzed transport service to be perfect substitutes, ...

Manufacturing firms buy transport services with the aim of minimizing their total logistics cost. There is a large amount of literature analyzing how shippers value the various characteristics of a transport service, mostly performed by collecting stated-preference data and estimating discrete choice models. Most of the empirical studies specify the deterministic part of the utility functions as linear in the observed attributes. This implicitly constrains the characteristics of the analyzed transport service to be perfect substitutes, and to have a constant substitutability ratio. Such an assumption is inconsistent with the standard microeconomic theory, typically assuming inputs' decreasing marginal productivity, and may not be realistic. The paper tests the linearity assumption for freight rate, travel time, probability of having damaged and lost freight, frequency, flexibility, mode and punctuality on a sample of Italian small-and medium-sized manufacturing enterprises (SME). Our findings suggest that the linearity-in-the-attributes assumption should be rejected and that the marginal impact on the utility-of-profit of the attributes is not constant. More specifically travel time and freight rate produce decreasing marginal reductions of the utility-of-profit; while safety (percentage of not damaged or lost shipments) and punctuality (percentage of shipments on time) are responsible for increasing marginal contributions to the utility-of-profit. The substitutability ratios between (a) freight rate and loss and damage, (b) freight rate and travel time, (c) freight rate and punctuality, (d) travel time and damage and loss and (e) travel time and punctuality are estimated and found not constant. Finally, it is found that the willingness to pay for the qualitative attributes obtained with a linearly specified model tend to be overestimated.

In this paper, we investigate the theoretical and empirical relevance of the distinction between generic goods and specific goods for the understanding of freight transport demand. Specific goods are Taylor-made for a single customer while generic goods are produced irrespective of the final customer who will buy them. Theoretically, the distinction lays on a different relationship with time, based for specific goods on a trade-off between transport duration and cost, and for generic goods on optimal stock. The distinction affects shippers' valuation of freight transport attributes such as value of time, value of transport time reliability and value of the risk of loss and damages. The theoretical analysis has not so far been able to establish conclusively how shippers' valuation of freight transport attributes is affected by the type of good produced. Hence, some empirical evidence derived from stated preference data collected among Italian shippers is used to shed some light on the topic.