MAJOR PROJECTS AND THE ENVIRONMENT

1977 ◽  
Vol 17 (1) ◽  
pp. 142
Author(s):  
J. W. Butters
Keyword(s):  
Present Form ◽  
Economic Consequences ◽  
The Other ◽  
Exact Science ◽  
Main Trunk ◽  
Natural Gas Pipeline ◽  
Pipeline Project ◽  
Political Intervention ◽  
The Cost ◽  
The Impact

The realisation that man needs to work with nature rather than against it indicates growing maturity and awareness in the community. However, in dealing with the environment we need moderation. We need to remind ourselves that "environmentalism" is neither a profession nor an exact science. Answers are rarely certainly right or certainly wrong. As with most natural problems the best answers are usually a reasonable compromise.The Moomba-Sydney Natural Gas Pipeline Project was delayed 18 months. Two public Environmental Inquiries were held resulting from pressure from environmental groups.Following political intervention the first Inquiry caused a reroute of the main trunk adding 90 km (56 mi.) to its length and seriously delaying its commencement so that inflationary effects, added to the cost of the longer route and its complete resurvey, caused additional cost to the project of over $100 million.The second Inquiry required such change of the pipeline fundamentals, despite three years of comprehensive interdepartmental discussions held to ensure agreement, as to render the lateral under review economically unfeasible in its present form. Its cost would be something like six times its original estimate.Similar inflationary effects and uncertainties afflicted the other lateral causing its deferment also. The final cost of completing the whole project initially estimated at $155 million would now be in excess of $320 million.These deferments sprang principally from the economic consequences of environmental and/or industrial uncertainties. The communities which would otherwise have benefited by immediate service from relatively pollution-free energy are thus denied access to it. The impact of this deferment upon their own future environment was not called to account in the Inquiries.

Pound Wise and Penny Foolish? Weight Loss and The Dynamics of Health Care Spending

2011 ◽  
Vol 14 (2) ◽  
Author(s):  
Thomas G Koch
Keyword(s):  
Weight Loss ◽  
Cost Savings ◽  
Cost Effective ◽  
Economic Consequences ◽  
Health Care Spending ◽  
Order Of Magnitude ◽  
Dynamic Measures ◽  
The Cost ◽  
The Impact ◽  
The Relationship

Current estimates of obesity costs ignore the impact of future weight loss and gain, and may either over or underestimate economic consequences of weight loss. In light of this, I construct static and dynamic measures of medical costs associated with body mass index (BMI), to be balanced against the cost of one-time interventions. This study finds that ignoring the implications of weight loss and gain over time overstates the medical-cost savings of such interventions by an order of magnitude. When the relationship between spending and age is allowed to vary, weight-loss attempts appear to be cost-effective starting and ending with middle age. Some interventions recently proven to decrease weight may also be cost-effective.

Does the impact of the COVID-19 pandemic influence the FX? A note.

2021 ◽  
Vol 15 (2) ◽  
Author(s):  
Evangelos Vasileiou
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Economic Recession ◽  
Interest Rate Risk ◽  
Economic Consequences ◽  
Domestic Currency ◽  
Effective Response ◽  
Policy Makers ◽  
The Cost ◽  
The Impact

This note shows that the effective response of a country in its battle against COVID-19 influences the exchange rate of its currency. Particularly, we examine the GBPUSD, AUDUSD and AUDGBP pairs of currency during the COVID-19 outbreak and the results show that the domestic currency of the country which documents more COVID-19 cases in each pair is depreciated against the foreign one. Therefore, a country which cannot effectively mitigate the impact of COVID-19 and whose currency is depreciated may present further economic consequences in the future. Such consequences extend beyond economic recession and may include sovereign and interest rate risk. These findings may be useful for policy makers in order to estimate the cost of the pandemic.

scholarly journals Methods for the estimation of the National Institute for Health and Care Excellence cost-effectiveness threshold

2015 ◽  
Vol 19 (14) ◽  
pp. 1-504 ◽  
Author(s):  
Karl Claxton ◽  
Steve Martin ◽  
Marta Soares ◽  
Nigel Rice ◽  
Eldon Spackman ◽  
...  
Keyword(s):  
Cost Effectiveness ◽  
Health Effects ◽  
The Other ◽  
Opportunity Costs ◽  
Best Estimate ◽  
The Cost ◽  
The Impact ◽  
The Relationship ◽  
Cost Effectiveness Threshold ◽  
Effectiveness Threshold

BackgroundCost-effectiveness analysis involves the comparison of the incremental cost-effectiveness ratio of a new technology, which is more costly than existing alternatives, with the cost-effectiveness threshold. This indicates whether or not the health expected to be gained from its use exceeds the health expected to be lost elsewhere as other health-care activities are displaced. The threshold therefore represents the additional cost that has to be imposed on the system to forgo 1 quality-adjusted life-year (QALY) of health through displacement. There are no empirical estimates of the cost-effectiveness threshold used by the National Institute for Health and Care Excellence.Objectives(1) To provide a conceptual framework to define the cost-effectiveness threshold and to provide the basis for its empirical estimation. (2) Using programme budgeting data for the English NHS, to estimate the relationship between changes in overall NHS expenditure and changes in mortality. (3) To extend this mortality measure of the health effects of a change in expenditure to life-years and to QALYs by estimating the quality-of-life (QoL) associated with effects on years of life and the additional direct impact on QoL itself. (4) To present the best estimate of the cost-effectiveness threshold for policy purposes.MethodsEarlier econometric analysis estimated the relationship between differences in primary care trust (PCT) spending, across programme budget categories (PBCs), and associated disease-specific mortality. This research is extended in several ways including estimating the impact of marginal increases or decreases in overall NHS expenditure on spending in each of the 23 PBCs. Further stages of work link the econometrics to broader health effects in terms of QALYs.ResultsThe most relevant ‘central’ threshold is estimated to be £12,936 per QALY (2008 expenditure, 2008–10 mortality). Uncertainty analysis indicates that the probability that the threshold is < £20,000 per QALY is 0.89 and the probability that it is < £30,000 per QALY is 0.97. Additional ‘structural’ uncertainty suggests, on balance, that the central or best estimate is, if anything, likely to be an overestimate. The health effects of changes in expenditure are greater when PCTs are under more financial pressure and are more likely to be disinvesting than investing. This indicates that the central estimate of the threshold is likely to be an overestimate for all technologies which impose net costs on the NHS and the appropriate threshold to apply should be lower for technologies which have a greater impact on NHS costs.LimitationsThe central estimate is based on identifying a preferred analysis at each stage based on the analysis that made the best use of available information, whether or not the assumptions required appeared more reasonable than the other alternatives available, and which provided a more complete picture of the likely health effects of a change in expenditure. However, the limitation of currently available data means that there is substantial uncertainty associated with the estimate of the overall threshold.ConclusionsThe methods go some way to providing an empirical estimate of the scale of opportunity costs the NHS faces when considering whether or not the health benefits associated with new technologies are greater than the health that is likely to be lost elsewhere in the NHS. Priorities for future research include estimating the threshold for subsequent waves of expenditure and outcome data, for example by utilising expenditure and outcomes available at the level of Clinical Commissioning Groups as well as additional data collected on QoL and updated estimates of incidence (by age and gender) and duration of disease. Nonetheless, the study also starts to make the other NHS patients, who ultimately bear the opportunity costs of such decisions, less abstract and more ‘known’ in social decisions.FundingThe National Institute for Health Research-Medical Research Council Methodology Research Programme.

scholarly journals The Impact of Timber Harvesting Guidelines and Timber Sale Attributes on Stumpage Bidding Behavior

2005 ◽  
Vol 22 (4) ◽  
pp. 275-280 ◽  
Author(s):  
Michael A. Kilgore ◽  
Charles R. Blinn
Keyword(s):  
Forest Management ◽  
Timber Harvesting ◽  
Physical Characteristics ◽  
The Other ◽  
Sources Of Information ◽  
Bidding Behavior ◽  
Specific Factors ◽  
Timber Sale ◽  
The Cost ◽  
The Impact

Abstract Twenty-seven public timber tracts were auctioned in Minnesota where bidders were required to submit two sealed bids for a tract–one with and the other without the use of timber harvesting guidelines. After the auctions, bidders were mailed a questionnaire requesting information about their logging business, the sources of information consulted in developing their bids, and perceptions of how various tract- and sale-specific factors and guidelines influenced their bidding behavior. The majority of responding timber harvesters did not consult any special sources and only one-half visited the tract before submitting their bids. Although bidding behavior was influenced by several factors, a tract's physical characteristics (e.g., volume of merchantable timber) had a greater influence on their bidding behavior than did any guidelines. Of the guidelines evaluated, those that required leaving merchantable trees (e.g., for wildlife or visual purposes) were reported to have the greatest influence on stumpage bids. Sale-specific variables (e.g., timber harvester's need for timber) had only a minimal to moderate influence on bidding behavior. The findings suggest that timber sale design can help mitigate the cost associated with implementing forest management guidelines.North. J. Appl. For. 22(4):275–280.

scholarly journals A natural experiment reveals the impact of hydroelectric dams on the estuaries of tropical rivers

2019 ◽  
Vol 5 (3) ◽  
pp. eaau9875 ◽  
Author(s):  
E. Ezcurra ◽  
E. Barrios ◽  
P. Ezcurra ◽  
A. Ezcurra ◽  
S. Vanderplank ◽  
...  
Keyword(s):  
Pacific Coast ◽  
Economic Consequences ◽  
Coastal Sediments ◽  
Coastal Protection ◽  
Hydroelectric Dams ◽  
Sediment Trapping ◽  
Tropical Estuaries ◽  
The Stability ◽  
The Cost ◽  
The Impact

We tested how sediment trapping by hydroelectric dams affects tropical estuaries by comparing two dammed and two undammed rivers on Mexico’s Pacific coast. We found that dams demonstrably affected the stability and productivity of the estuaries. The two rivers dammed for hydroelectricity had a rapid coastal recession (between 7.9 and 21.5 ha year−1) in what should otherwise be an accretional coastline. The economic consequences of this dam-induced coastal erosion include loss of habitat for fisheries, loss of coastal protection, release of carbon sequestered in coastal sediments, loss of biodiversity, and the decline of estuarine livelihoods. We estimate that the cost of the environmental damages a dam can cause in the lower part of basin almost doubles the purported benefits of emission reductions from hydroelectric generation.

scholarly journals Do banks use derivatives to off set economic consequences of wrong strategies: Externally growth through acquisitions too much expensive (hostile takeovers)?

2015 ◽  
Vol 12 (4) ◽  
pp. 857-866
Author(s):  
Loredana Ferri Di Fabrizio
Keyword(s):  
Agency Problem ◽  
Economic Consequences ◽  
The Other ◽  
Ongoing Debate ◽  
Hostile Takeovers ◽  
Empirical Results ◽  
Corporate Strategies ◽  
Financial Decision ◽  
The Cost

One of the unresolved questions in the matter of financial decision is why firms hedge with derivatives. Prior researches hypotize different reasons for derivatives use and empirical results are contradictory. When Managers and Owners are different an agency problem could arise in the hedging decisions. For instance, the Managers may hedge in a manner that does not maxime the value of the firm. On one side derivatives allow shifting and hedging risks but on the other side reduce the cost of enganging in speculative transactions. The paper is motivated mainly by the ongoing debate on derivatives use and seeks at answer following questions : how do corporate strategies use derivatives? What is the really goal of using derivatives: hedging or taking risks? How CEOs use derivatives to hide or delay losses or their imbalanced corporate strategies (e.g. hostile takeovers)?.

Web-based disclosure and the cost of debt: MENA countries evidence

2020 ◽  
Vol 18 (3) ◽  
pp. 533-561
Author(s):  
Henda Abdi ◽  
Mohamed Ali Brahim Omri
Keyword(s):  
Information Disclosure ◽  
Developed Countries ◽  
Economic Consequences ◽  
Cost Of Debt ◽  
Mena Region ◽  
Web Based ◽  
Content Type ◽  
Mena Countries ◽  
The Cost ◽  
The Impact

Purpose The aim of this study is to investigate the effect of web - based disclosure on the cost of debt for the MENA region setting. Design/methodology/approach The sample of this paper consists of 237 MENA listed non-financial companies for the year 2017. Multiple regression models were used to examine the impact of online disclosure on the cost of debt. Content analysis is used to measure the extent of web-based disclosure. Findings The results reveal that there is a negative and significant association between the web-based disclosure and the company’s cost of debt. These results support the hypothesis of the economic utility of the information disclosed on the website for creditors in this region. Practical implications The results of the study have important implications for managers in the MENA region. It is necessary for managers to improve the company’s transparency through web-based disclosure. The companies must benefit from the different technologies offered by the Internet in order to offer to the creditors unlimited access to up to date information. In fact, web-based disclosure may mitigate the information asymmetry, the uncertainty of creditors and, consequently, reduces the cost of debt. 10; 10;Moreover, the results of the study provide empirical evidence for the advantages of voluntary web-based disclosure. The results highlight the importance to companies and regulators of understanding the benefits of using the website as a means of information disclosure. The regulators in MENA countries can rely on these results to establish suitable policies to improve the quality of web-based disclosure. The regulators need also to put in rules in relation to the online disclosure. In fact, an understanding of web-based disclosure is important for regulators and companies. Given the positive effect of online disclosure (the reduction of the cost of debt), knowledge about the economic consequences of web-based disclosure would enable companies in the MENA region to optimize their online disclosure policies. Originality/value This study, added to the existing literature by examining the consequences of online disclosure practices in MENA countries. Most previous studies conducted in this region were limited to analyzing the determinants of the company’s web-based disclosure. This paper would extend the literature on the online disclosure practices by investigating the association between these practices and the cost of debt in a developing economics: the MENA region. Previous studies were limited to testing this association only in developed countries.

The impact of government ownership on the cost of debt and valuation of Vietnamese listed companies

2020 ◽  
Vol 32 (2) ◽  
pp. 255-270
Author(s):  
Ben Le
Keyword(s):  
Instrumental Variable ◽  
Ordinary Least Squares ◽  
Firm Valuation ◽  
The Other ◽  
Cost Of Debt ◽  
Government Ownership ◽  
Content Type ◽  
The Cost ◽  
The Impact ◽  
The Relationship

Purpose This paper aims to examine the impact of government ownership on the cost of debt and firm valuation in listed Vietnamese companies for the period 2007 to 2016. Design/methodology/approach The authors use both the generalised methods of the moment (GMM) and the ordinary least squares (OLS) regressions to analyse a panel data spanning over the period 2007 to 2016 in the markets of Vietnam. Further, the instrumental variable is used in the paper. Findings The authors find that firms with relative higher government stockholdings or state-owned companies where the government owns 50 per cent or more of shares outstanding enjoy a lower cost of debt compared to the other firms. Consequently, these firms have higher firm valuation and profitability. The results are robust for both the GMM and the OLS regressions. Further, firms that no longer retain government ownership have a higher cost of debt than the other firms. The results of the paper imply the importance of political connections in businesses in the market of Vietnam. Originality/value This paper connects the relationship between government ownership and the cost of debt with the relationship between government ownership and firm valuation. The paper tests the relationship between the cost of debt and government ownership using both OLS and GMM specifications and the results are robust for both approaches. The manuscript uses an instrumental variable to show that government ownership has a positive impact on higher firm performance through reducing cost of debt. Further, this paper addresses the possible issue of endogeneity.

scholarly journals This Changes Everything

2020 ◽  
Vol 20 (79) ◽  
Author(s):  
Serhan Cevik ◽  
João Tovar Jalles
Keyword(s):  
Climate Change ◽  
Developing Countries ◽  
Global Economy ◽  
Statistical Significance ◽  
Large Body ◽  
Economic Consequences ◽  
Sovereign Risk ◽  
Bond Yields ◽  
The Cost ◽  
The Impact

Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change vulnerability and resilience on sovereign bond yields and spreads in 98 advanced and developing countries over the period 1995–2017. We find that the vulnerability and resilience to climate change have a significant impact on the cost government borrowing, after controlling for conventional determinants of sovereign risk. That is, countries that are more resilient to climate change have lower bond yields and spreads relative to countries with greater vulnerability to risks associated with climate change. Furthermore, partitioning the sample into country groups reveals that the magnitude and statistical significance of these effects are much greater in developing countries with weaker capacity to adapt to and mitigate the consequences of climate change.

scholarly journals Economic Burden Bore by Patients and Families because of stroke: Policy Assessment

2020 ◽  
Vol 5 (3) ◽  
Author(s):  
Honesty Fadhilah ◽  
Vetty Yulianty Permanasari
Keyword(s):  
Nursing Care ◽  
Economic Burden ◽  
National Level ◽  
Economic Consequences ◽  
High Price ◽  
Preventive Action ◽  
High Prevalence ◽  
Prohibitive Cost ◽  
The Cost ◽  
The Impact

AbstractStroke to this day is still a disease that causes a high disability. In the future, it will require a prohibitive cost so that it has an impact on the socio-economic consequences for patients and their families. The price is prohibitive so that the impact on socioeconomic implications for patients and their families. Because of that, the purpose of the study is to estimate the cause of the cost that causes an economic burden from a stroke. The method that is used is a content analysis by doing a further literature review from various sources, from journal to textbook from a national level to international. Literature studies show that direct medical cost, which is rehabilitation, and nursing care cost is identified as the leading contributor to the high price of economic burden from a stroke. High costs incurred cause family to experience catastrophic financial disaster; it even impacts to drop welfare level. Social preventive action is needed to reduce the high prevalence of stroke to reduce the cost, to protect every household from financial disaster from a stroke.

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