The Production Technology of Philippine Domestic Banks in the Pre-Asian Crisis Periods: Estimation of Cost Function in the 1990-96 Period

This is to analyzes the operational behavior and technical progress among Philippine domestic banks, using micro-level data on individual banks. First, we summarize their major business activities and gain insight on how the structure is changing. Then, we formally estimate the cost function of Philippine domestic banks using panel data covering a seven-year period (1990-96). The presence of economies of scale and economies of scope is investigated and technical progress in the banking industry is measured. In addition, the results of analysis for the Philippines are compared with those of similar studies on Thailand conducted by the author previously.

The asset/liability structure of the Philippine banks and non-bank financial institutions in 2000s : a preliminary study for financial access analyses

Based on the consolidated statements data of the universal/commercial banks (UKbank) and non-bank financial institutions with quasi-banking licenses, this paper presents a keen necessity of obtaining data in detail on both sides (assets and liabilities) of their financial conditions and further analyses. Those would bring more adequate assessments on the Philippine financial system, especially with regard to each financial subsector's financing/lending preferences and behavior. The paper also presents a possibility that the skewed locational and operational distribution exists in the non-UKbank financial subsectors. It suggests there may be a significant deviation from the authorities' (the BSP, SEC and others) intended/anticipated financial system in the banking/non-bank financial institutions' real operations.

Changes in source of profits and business strategies? : some evidence from the Philippines' universal banks in the 2000s

In the 2000s, the Philippines' local banking sector have conducted very conservative lending behavior and at the same time, gradually but continuously improved their profitability in terms of ROE (return on equity). A set of analyses on the flow of funds and segment reports (information) of local universal banks, whose loans outstanding to the industrial sector have dominated more than three fourths of the total outstanding, shows that (1) they have actively manage assets overseas, (2) their profitability has come from investment activities in the securities markets, and (3) some universal banks have shifted their resources into the consumer/retail segment. Although further refinement in the dataset is needed for a more detailed analysis, diverse business strategies would be expected among the local universal banks in the near future.

Asset composition of the Philippines' universal and commercial banks : monetary policy or self-discipline?

The central bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has improved its monetary policy measures since the 2000s. After rationalizing the country's banking sector since late-1990s, its monetary policy and the uniiversal/commercial banks' (UCBs) behavior in allocating their assets has changed since mid-2000s. Though further and more detailed studies are nesessary, based on the results of simple correlation analyses conducted in this paper suggest a possible mixture of the country's monetary policy and their own decision-making in asset allocations, instead of a "follow-through" attitude.

The human side of social technology for climate change mitigation and human development: the case of "efficient stoves" in Brazil

Carbon management has gradually gained attention within the overall environmental management and corporate social responsibility agendas. The clean development mechanism, from Kyoto Protocol, was envisioned as connecting carbon market and sustainable development objectives in developing countries. Previous research has shown that this potential is rarely being achieved. The paper explores how the incorporation of the human side into carbon management reinforces its contribution to generate human development in local communities and to improve the company's image. A case study of a Brazilian company is presented, with the results of the application of an analytical model that incorporates the human side and human development. The selected project is an "efficient stoves" programme. "Efficient stoves" are recognised in Brazil as social technologies. Results suggest that the fact that social technologies value the human side of the technology plays a key role when it comes to analysing the co-benefits of the project implementation.

Effect of the application of jasmonic acid and benzoic acid on grafted watermelons yield under greenhouse conditions in the southeast of Spain for mitigation of stress

One of the main problems of watermelon crops in Sou theast Spain is the thermal difference because of c limatic conditions that appear during the first stages of the crop. The objective of this work was to evaluate the effect of inducing the systemic acq uired resistance (SAR) and the induced systemic resistance (ISR) through the application of jasmonic ac id (JA) and benzoic acid (BA), respectively, to counter the abiotic stress. We assessed two treatments of JA and BA, T1 (500 mg·kg-1 + 500 mg·kg -1 ) and T 2 (2000 mg·kg -1 + 2000 mg·kg -1), as well as a control test using an experimental design of randomized blocks with four replications. The results obtained for kg·m -2, fruits/m², kg/plant and fruits/plant did not show statistically significant differences. However, we obtained statistically sig nificant differences in the average fruit weight co mpared with the control test in the two experiments carried out in 2009 and 2010. The results showed that there was no metabolic cost in the plants when applying the assessed treatments of JA and BA.

Orbital debris mitigation through deorbiting with passive electrodynamic drag

The increase of orbital debris and the consequent proliferation of smaller objects through fragmentation are driving the need for mitigation strategies. The issue is how to deorbit the satellite with an efficient system that does not impair drastically the propellant budget of the satellite and, consequently, reduces its operating life. We have been investigating, in the framework of a European-Community-funded project, a passive system that makes use of an electrodynamics tether to deorbit a satellite through Lorentz forces. The deorbiting system will be carried by the satellite itself at launch and deployed from the satellite at the end of its life. From that moment onward the system operates passively without requiring any intervention from the satellite itself. The paper summarizes the results of the analysis carried out to show the deorbiting performance of the system starting from different orbital altitudes and inclinations for a reference satellite mass. Results can be easily scaled to other satellite masses. The results have been obtained by using a high-fidelity computer model that uses the latest environmental routines for magnetic field, ionospheric density, atmospheric density and a gravity field model. The tether dynamics is modelled by considering all the main aspects of a real system as the tether flexibility and its temperature-dependent electrical conductivity. Temperature variations are computed by including all the major external and internal input fluxes and the thermal flux emitted from the tether. The results shows that a relatively compact and light system can carry out the complete deorbit of a relatively large satellite in a time ranging from a month to less than a year starting from high LEO with the best performance occurring at low orbital inclinations.

Infrastructure Finance in Developing Countries by State and Multilateral Development Banks

Infrastructure concession is an alternative widely used by governments to increase investment. In the case of the road sector, the main characteristics of the concessions are: long-term projects, high investments in the early years of the contract and high risks. A viability analysis must be carried out for each concession and consider the characteristics of the project. When the infrastructure is located in a developing country, political and market growth uncertainties should be add in the concession project analysis, as well as economic instability, because they present greater risks. This paper is an analysis of state bank participation in road infrastructure finance in developing countries. For this purpose, we studied road infrastructure financing and its associated risks, and also the features of developing countries. Furthermore, we considered the issue of state banks and multilateral development banks that perform an important role by offering better credit lines than the private banks, in terms of cost, interest and grace period. Based on this study, we analyzed the Brazilian Development Bank - BNDES – and their credit supply to road infrastructure concessions. The results show that BNDES is the main financing agent for long-term investment in the sector, offering loans with low interest rates in Brazilian currency. From this research we argue that a single state bank should not alone support the increasing demand for finance in Brazil. Therefore, we conclude that there is a need to expand the supply of credit in Brazil, by strengthening private banks in the long-term lending market.

Analog mitigation of out of band strong interferers in wide band acquisition for multiband HF transmissions

It is clear that in the near future much broader transmissions in the HF band will replace part of the current narrow band links. Our personal view is that a real wide band signal is infeasible in this environment because the usage is typically very intensive and may suffer interferences from all over the world. Therefore, we envision that dynamic multiband transmissions may provide better satisfactory performance. From the very beginning, we observed that real links with our broadband transceiver suffered interferences out of our multiband but within the acquisition bandwidth that degrade the expected performance. Therefore, we concluded that a mitigation structure is required that operates on severely saturated signals as the interference may be of much higher power. In this paper we address a procedure based on Higher Order Crossings (HOC) statistics that are able to extract most of the signal structure in the case where the amplitude is severely distorted and allows the estimation of the interference carrier frequency to command a variable notch filter that mitigates its effect in the analog domain.

Spatial domain mitigation of out of band strong interferers in HF wide band acquisition using analog beamforming principles

We envision that dynamic multiband transmissions taking advantage of the receiver diversity (even for collocated antennas with different polarization or radiation pattern) will create a new paradigm for these links guaranteeing high quality and reliability. However, there are many challenges to face regarding the use of broadband reception where several out of band (with respect to multiband transmission) strong interferers, but still within the acquisition band, may limit dramatically the expected performance. In this paper we address this problem introducing a specific capability of the communication system that is able to mitigate these interferences using analog beamforming principles. Indeed, Higher Order Crossing (HOCs) joint statistics of the Single Input ? Multiple Output (SIMO) system are shown to effectively determine the angle on arrival of the wavefront even operating over highly distorted signals.

Farmers behaviour on mitigation and adaptation to climate change: A case study in Kenya.

Farmers in Africa are facing climate change and challenging rural livelihoods while maintaining agricultural systems that are not resilient. By 2050 the mean estimates of production of key staple crops in Africa such as maize, sorghum, millet, groundnut, and cassava are expected to decrease by between 8 and 22 percent (Schlenker and Lobell 2010). In Kenya, although projections of rainfall do not show dramatic decreases, the distribution of impacts is clearly negative for most crops. As increases in temperature will lead to increases in evapotranspiration, a potential increase in rainfall in Kenya may not offset the expected increases in agricultural water needs (Herrero et al. 2010). In order to respond to these present and future challenges, potential mitigation and adaptation options have been developed. However, implementation is not evident. In addition to their benefits in either mitigating or reducing the vulnerability of climate change effects, many of these options do not have economic costs and even provide economic benefits (e.g. savings in the consumption of energy or natural resources). Nevertheless, it is demonstrated that even when there are no biophysical, technological or economic constraints and despite their potential benefits from either the economic or environmental climate change point of view, not all farmers are willing to adopt these measures. This reflects the key role that behavioural barriers can play in the uptake of mitigation and adaptation measures.

Modeling of dangerous phenomena and innovative techniques for hazard evaluation and risk mitigation

Society is frequently exposed to and threatened by dangerous phenomena in many parts of the world. Different types of such phenomena require specific actions for proper risk management, from the stages of hazard identification to those of mitigation (including monitoring and early-warning) and/or reduction. The understanding of both predisposing factors and triggering mechanisms of a given danger and the prediction of its evolution from the source to the overall affected zone are relevant issues that must be addressed to properly evaluate a given hazard.

Sir Joseph Banks, Bart. [Material gráfico] : Proof.

Resumen: Descripción: retrato de tres cuartos de figura de frente, mirando ligeramente hacia la izquierda. Con la mano derecha nos muestra una pequeña bola