A Comparative Study Of The Organisation And Management Of Notihed Markets In Bangladesh With The Organisation And Management Of Regulated Markets In West Bengal India

For improving agricultural marketing, which has been discussed in the previous chapter, the Government has intervened in different ways. The direct regulatory role through the regulation of markets and market practices is one of the ways in which governmental intervention can improve agricultural marketing. This study is an enquiry of the direct regulatory role of the government through regulation of markets and market practices. By restructuring the operational methods and redesigning the existing physical markets, this system gives direct benefit to the cultivating class and protects them from the market manipulations of organised and powerful private traders. If traders do not continue their trade for the time being they will not be affected financially, because they are resourceful or financially solvent. On the other hand, Cultivators must sell their produce immediately after harvesting for the lack of additional facilities or to satisfy other needs for which finance is required. Another important reason is that Cultivators/farmers are not organised and because of lack of their organisation, they sell their produces individually. In this situation, a farmer is helpless when astute traders indulge in manipulations at the time of purchase of the produces. So it is the government's obligation to protect the interest of the farmers. Protection of the farmer/cultivator is necessary not only from the point of social justice but also from that of economic growth. If the farmers are assured of a remunerative or incentive price for their produce, they will get the inspiration to produce more and through more production, economy will be developed and the nation as a whole will be benefitted. This study will examine the management system of the markets through the direct regulatory role played by the governments to control markets and market practices in West Bengal and Bangladesh.

A study of the evolution and working of regulated markets in Tamilnadu

This study presents a detailed investigation of the origin and development of regulations in agricultural marketing in Tamil Nadu. It evaluates the method and process of regulation practised through the orgahisation of a chain of regulated markets in the State. The study also examines in detail the conceptual frame work behind state intervention and show the original concept has been modified subsequently to suit the changed conditions during the post-independence era of planning for economic development Specific objectives explained in the present study include the following: viz, a) The historical aspects that necessitated state intervention in agricultural marketing in the form of organising regulated markets and their evolution, b) The conceptual and organisational bases of regulated markets in Tamil Nadu. c) The impact of such regulations on the existing trade channels or systems.168 d) The performance and efficiency of regulated markets and their achievements. The study also has suggested some remedial measures to reorganise the present organisational pattern of regulated marketing in Tamil Nadu.

Generic entry into a regulated pharmaceutical market

The aim of this paper is to analyse empirically entry decisions by generic firms intomarkets with tough regulation. Generic drugs might be a key driver of competitionand cost containment in pharmaceutical markets. The dynamics of reforms ofpatents and pricing across drug markets in Spain are useful to identify the impact ofregulations on generic entry. Estimates from a count data model using a panel of 86active ingredients during the 1999 2005 period show that the drivers of genericentry in markets with price regulations are similar to less regulated markets: genericfirms entries are positively affected by the market size and time trend, and negativelyaffected by the number of incumbent laboratories and the number of substitutesactive ingredients. We also find that contrary to what policy makers expected, thesystem of reference pricing restrains considerably the generic entry. Short run brandname drug price reductions are obtained by governments at the cost of long runbenefits from fostering generic entry and post-patent competition into the markets.

Vakioidut optiot sähkökaupassa

Pohjoismaiset sähkömarkkinat ovat muuttuneet viime vuosina huomattavasti. Sähkömarkkinalakiuudistuksessa poistettiin muodollisesti kilpailun esteet, mutta uusien toimintamuotojen omaksuminen on Suomessa vasta alussa. Sähkömarkkinaosapuolet altistuvat riskriskeille, joita toimialalla ei ole aikaisemmin esiintynyt. Suurimpana riskitekijänä voidaan pitää epävarmuutta tulevasta sähkön hintatasosta, joka voi vaikuttaa merkittävästi yrityksen liiketoiminnan tulokseen. Tässä diplomityössä tarkastellaan, miten hinnanvaihtelua vastaan pystytään suojautumaan sähköjohdannaisten avulla. Kaupankäynti johdannaissopimuksilla edellyttää markkinoiden aktiivista seuraamista ja organisoitua sähkökaupan riskienhallintaa. Riskienhallinnan tehtävänä ei ole riskien eliminoiminen, vaan niiden sopeuttaminen yrityksen tuotto-odotuksien ja riskiensietokyvyn mukaisiksi. Ennen sähkömarkkinoiden avautumista suojauduttiin sähkön hintariskeiltä pitkillä toimitussopimuksilla. Uudessa markkinatilanteessa suojaus voidaan toteuttaa joustavasti ja kohtuullisin kustannuksin käyttämällä johdannaissopimuksia, joilla voidaan poistaa tulevaisuuteen kohdistuvaa epävarmuutta sähkönhinnasta. Pohjoismaisessa sähköpörssissä, Nord Pool ASA:ssa, noteerattavat johdannaiset ovat vakioituja. Lokakuun lopussa 1999 kaupankäynnin kohteeksi otetaan termiinien lisäksi myös vakioidut sähköoptiot. Option ostajalle avautuu mahdollisuus hintasuojaukseen instrumenteilla, joita käyttäen suojaustaso voidaan määrittää etukäteen. Vakioitujen sähköoptioiden mukaan ottaminen sähköpörssin tuotevalikoimaan monipuolistaa huomattavasti ostajien ja myyjien suojautumismahdollisuuksia. Suojaustasoa on tarpeen vaatiessa mahdollista muuttaa vastamaan uutta markkinatilannetta. Työn loppuosassa on tutkittu mahdollisia kaupankäyntistrategioita ja hinnoittelumalleja sähköoptioille. Koska tutkimus on tehty ennen pörssissä tapahtuvan optiokaupan alkamista, useisiin tässä työssä avoimiksi jääneisiin kysymyksiin tullaan saaman vastauksia käytännön kokemuksista.

Future prospects of short distance rail based passenger transport in Northern Europe

The worlds’ population is increasing and cities have become more crowded with people and vehicles. Communities in the fringe of metropolitans’ increase the traffic done with private cars, but also increase the need for public transportation. People have typically needs traveling to work located in city centers during the morning time, and return to suburbs in the afternoon or evening. Rail based passenger transport is environmentally friendly transport mode with high capacity to transport large volume of people. Railways have been regulated markets with national incumbent having monopoly position. Opening the market for competition is believed to have a positive effect by increasing the efficiency of the industry. National passenger railway market is opened for competition only in few countries, where as international traffic in EU countries was deregulated in 2010. The objective of this study is to examine the passenger railway market of three North European countries, Sweden, Denmark and Estonia. The interest was also to get an understanding of the current situation and how the deregulation has proceeded. Theory of deregulation is unfolded with literature analyses and empirical part of the study is constructed from two parts. Customer satisfaction survey was chosen as a method to collect real life experiences from the passengers and measure their knowledge of the market situation and possible changes appeared. Interviews of experts from the industry and labor unions give more insights and able better understanding for example of social consequences caused from opening the market for competition. Expert interviews were conducted by using semi-structured theme interview. Based on the results of this study, deregulation has proceeded quite differently in the three countries researched. Sweden is the most advanced country, where the passenger railway market is open for new entrants. Denmark and Estonia are lagging behind. Opening the market is considered positive among passengers and most of the experts interviewed. Common for the interviews were the labour unions negative perspective concerning deregulation. Despite the fact deregulation is considered positive among the respondents of the customer satisfaction survey, they could not name railway undertakings operating in their country. Generally respondents were satisfied with the commuter trains. Ticket price, punctuality of trains and itinerary affect the most to customer satisfaction.

Role of supply chains in adopting product related environmental regulations : case studies of Vietnam

This paper shows some findings how product related environmental regulations, especially those that relate to management of chemical substances affect firms in Asia. Interviews were conducted for some firms in Vietnam that are part of global supply chains of electrical and electronic, furniture, and plastic industries. The global supply chains with MNC lead firms have helped local firms in developing countries to adopt technical PRERs overseas. On the other hand, indigenous firms that do not belong to global value chains might face hurdles to keep exporting to the regulated markets. PRERs could become a barrier for firms that attempt to the regulated markets without supports by MNC lead firms.

Evaluation of an alternative spectroscopic approach for aflatoxin analysis: Comparative analysis of food and feed samples with UPLC-MS/MS

Increasing research has highlighted the effects of changing climates on the occurrence and prevalence of toxigenic Aspergillus species producing aflatoxins. There is concern of the toxicological effects to human health and animal productivity following acute and chronic exposure that may affect the future ability to provide safe and sufficient food globally. Considerable research has focused on the detection of these toxins, based on the physicochemical and biochemical properties of the aflatoxin compounds, in agricultural products for human and animal consumption. As improvements in food security continue more regulations for acceptable levels of aflatoxins have arisen globally; the most stringent in Europe. These regulations are important for developing countries as aflatoxin occurrence is high significantly effecting international trade and the economy. In developed countries analytical approaches have become highly sophisticated, capable of attaining results with high precision and accuracy, suitable for regulatory laboratories. Regrettably, many countries that are affected by aflatoxin contamination do not have resources for high tech HPLC and MS instrumentation and require more affordable, yet robust equally accurate alternatives that may be used by producers, processors and traders in emerging economies. It is especially important that those companies wishing to exploit the opportunities offered by lucrative but highly regulated markets in the developed world, have access to analytical methods that will ensure that their exports meet their customers quality and safety requirements.

This work evaluates the ToxiMet system as an alternative approach to UPLC–MS/MS for the detection and determination of aflatoxins relative to current European regulatory standards. Four commodities: rice grain, maize cracked and flour, peanut paste and dried distillers grains were analysed for natural aflatoxin contamination. For B1 and total aflatoxins determination the qualitative correlation, above or below the regulatory limit, was good for all commodities with the exception of the dried distillers grain samples for B1 for which no calibration existed. For B1 the quantitative R² correlations were 0.92, 0.92, 0.88 (<250 μg/kg) and 0.7 for rice, maize, peanuts and dried distillers grain samples respectively whereas for total aflatoxins the quantitative correlation was 0.92, 0.94, 0.88 and 0.91. The ToxiMet system could be used as an alternative for aflatoxin analysis for current legislation but some consideration should be given to aflatoxin M1 regulatory levels for these commodities considering the high levels detected in this study especially for maize and peanuts

I mercati di crescita per le PMI

La tesi studia ed approfondisce la disciplina dei mercati di crescita per le PMI, indagando il regime normativo delle società ivi quotate. Considerata la struttura composita dell’architettura regolamentare (direttive e regolamenti europei, fonti primarie nazionali e regolamento del mercato) l’indagine adotta una prospettiva olistica sulla regolamentazione, al fine di individuare principii comuni e risolevere dubbi interpretativi. Inoltre, l’approfondimento in chiave storica e di economia politica, volto a ricostruire le ragioni per l’introduzione dei mercati di crescita e gli obiettivi perseguiti dal legislatore europeo, permette di identificare le rationes sottostanti alle disposizioni e di facilitarne l’interpretazione. Il primo capitolo approfondisce l’evoluzione storica e istituzionale dei mercati di crescita per le PMI e gli obiettivi che il legislatore europeo si prefigge di raggiungere. Il secondo capitolo affronta invece il processo di registrazione dei sistemi multilaterali di negoziazione come mercati di crescita. Il capitolo indaga quali siano i requisiti affinché un sistema multilaterale possa essere registrato come mercato di crescita, come si svolga il processo di registrazione e quale sia il ruolo dell’autorità di vigilanza. Il terzo capitolo approfondisce quali siano le disposizioni di diritto societario applicabili agli emittenti quotati sui mercati di crescita. Infatti, mentre la disciplina per gli emittenti quotati sui mercati regolamentati non è direttamente applicabile a queste società, non si può neppure escludere in via preliminare che determinate disposizioni non siano applicabili in via analogica, a causa delle specifiche caratteristiche conferite a questi emittenti ed ai titoli ammessi alla negoziazione dalla quotazione. Il quarto capitolo analizza diverse disposizioni relative all’informazione, intesa in senso ampio. Infine, il quinto capitolo affronta la disciplina dell’o.p.a. obbligatoria prevista dal regolamento del mercato di crescita AIM Italia.

Launching prices for new pharmaceuticals in heavily regulated and subsidized markets

This paper provides empirical evidence on the explanatory factorsaffecting introductory prices of new pharmaceuticals in a heavilyregulated and highly subsidized market. We collect a data setconsisting of all new chemical entities launched in Spain between1997 and 2005, and model launching prices. We found that, unlike inthe US and Sweden, therapeutically "innovative" products are notoverpriced relative to "imitative" ones. Price setting is mainly used asa mechanism to adjust for inflation independently of the degree ofinnovation. The drugs that enter through the centralized EMAapproval procedure are overpriced, which may be a consequence ofmarket globalization and international price setting.

Automatic Electricity Markets Data Extraction for Realistic Multi-agent Simulations

Electricity markets worldwide suffered profound transformations. The privatization of previously nationally owned systems; the deregulation of privately owned systems that were regulated; and the strong interconnection of national systems, are some examples of such transformations [1, 2]. In general, competitive environments, as is the case of electricity markets, require good decision-support tools to assist players in their decisions. Relevant research is being undertaken in this field, namely concerning player modeling and simulation, strategic bidding and decision-support.

Multimarket contact in pharmaceutical markets

The purpose of this paper is to analyze the effect of multimarket contact on the behavior of pharmaceutical firms controlling for different levels of regulatory constraints using IMS MIDAS database. Theoretically, firms that meet in several markets are expected to be capable of sustaining implicitly more profitable out- comes, even if perfect monitoring is not possible. Firms may find it profitable to redistribute their market power among markets where they are operating. We present evidence for nine OECD countries with different degrees of regulation and show that regulation affects the importance of economic forces on firms' price setting behavior. Furthermore, our results confirms the presence of the predictions of the multimarket theory for more market friendly countries (U.S. and Canada) and less regulated ones (U.K., Germany, Netherlands), in contrast, for highly regulated countries (Japan, France, Italy and Spain) the results are less clear with some countries being

Multimarket contact in pharmaceutical markets

We analyze the effect of multimarket contact on the pricing behavior of pharmaceutical firms controlling for different levels of regulatory constraints using the IMS MIDAS database for the industry. Theoretically, under product differentiation, firms may find it profitable to allocate their market power among markets where they are operating, specifically from more collusive to more competitive ones. We present evidence for nine OECD countries suggesting the existence of a multimarket effect for more market friendly countries (U.S. and Canada) and less regulated ones (U.K., Germany, Netherlands), while the results are more unstable for highly regulated countries with some countries being consistent with the theory (France) while others contradicting it (Japan, Italy and Spain). A key result indicates thatin the latter countries, price constraints are so intense, that there is little room for allocating market power. Thus equilibrium prices are expected in general to be lower in regulated countries.

Investment in transport capacity and regulation of regional monopolies in natural gas commodity markets

This paper develops a model of the regulator-regulated firm relationship in a regional natural gas commodity market which can be linked to a competitive market by a pipeline. We characterize normative policies under which the regulator, in addition to setting the level of the capacity of the pipeline, regulates the price of gas, under asymmetric information on the firm’s technology, and may (or may not) operate (two-way) transfers between consumers and the firm. We then focus on capacity and investigate how its level responds to the regulator’s taking account of the firm’s incentive compatibility constraints. The analysis yields some insights on the role that transport capacity investments may play as an instrument to improve the efficiency of geographically isolated markets.

How the full opening of the capital account to highly liquid financial markets led Latin America to two and a half cycles of ‘mania, panic and crash’

Latin America has recently experienced three cycles of capital inflows, the first two ending in major financial crises. The first took place between 1973 and the 1982 ‘debt-crisis’. The second took place between the 1989 ‘Brady bonds’ agreement (and the beginning of the economic reforms and financial liberalisation that followed) and the Argentinian 2001/2002 crisis, and ended up with four major crises (as well as the 1997 one in East Asia) — Mexico (1994), Brazil (1999), and two in Argentina (1995 and 2001/2). Finally, the third inflow-cycle began in 2003 as soon as international financial markets felt reassured by the surprisingly neo-liberal orientation of President Lula’s government; this cycle intensified in 2004 with the beginning of a (purely speculative) commodity price-boom, and actually strengthened after a brief interlude following the 2008 global financial crash — and at the time of writing (mid-2011) this cycle is still unfolding, although already showing considerable signs of distress. The main aim of this paper is to analyse the financial crises resulting from this second cycle (both in LA and in East Asia) from the perspective of Keynesian/ Minskyian/ Kindlebergian financial economics. I will attempt to show that no matter how diversely these newly financially liberalised Developing Countries tried to deal with the absorption problem created by the subsequent surges of inflow (and they did follow different routes), they invariably ended up in a major crisis. As a result (and despite the insistence of mainstream analysis), these financial crises took place mostly due to factors that were intrinsic (or inherent) to the workings of over-liquid and under-regulated financial markets — and as such, they were both fully deserved and fairly predictable. Furthermore, these crises point not just to major market failures, but to a systemic market failure: evidence suggests that these crises were the spontaneous outcome of actions by utility-maximising agents, freely operating in friendly (‘light-touch’) regulated, over-liquid financial markets. That is, these crises are clear examples that financial markets can be driven by buyers who take little notice of underlying values — i.e., by investors who have incentives to interpret information in a biased fashion in a systematic way. Thus, ‘fat tails’ also occurred because under these circumstances there is a high likelihood of self-made disastrous events. In other words, markets are not always right — indeed, in the case of financial markets they can be seriously wrong as a whole. Also, as the recent collapse of ‘MF Global’ indicates, the capacity of ‘utility-maximising’ agents operating in (excessively) ‘friendly-regulated’ and over-liquid financial market to learn from previous mistakes seems rather limited.