A creative solution to financial gap in Indonesian infrastructure development is the Public Private Partnership （PPP） scheme. One of the constraints in PPP implementation in toll road infrastructure is the lack of i...A creative solution to financial gap in Indonesian infrastructure development is the Public Private Partnership （PPP） scheme. One of the constraints in PPP implementation in toll road infrastructure is the lack of interest from the private sector, which are caused by the uncertainties defined as risks surrounding the project. This urges the importance of risk analysis on project investment to describe the measurement of risk allocated to the private sector. This paper aims at measuring the risks impacts on the project viability using Cileunyi-Sumedang-Dawuan （Cisumdawu） Toll Road section as the case and finding some creative way out. By employing Monte Carlo risk analysis technique we are able to measure the risk impact perceived by the private sector through probability distribution of the project NPV and IRR. Based on the result of Monte Carlo analysis on the Cisumdawu toll road, the overall risk impact perceived by the private sector is too much to bear. The risks considered as high-impact are risks on land acquisition, risks on construction, risks on toll revenue, risks on interest rates and disaster risks on post construction phase. The result shows the importance of decreasing the risk level on the mentioned risk that can be done through the increased participation of local government in managing the toll road projects. A creative solution again is needed to strike balance between the interest of private sector and that of public sector to deal with risks.展开更多
IN August of every year,the Japan-China Friendship Association organizes a touring exhibition around Japan themed＂Expose War for Peace.＂Exhibits include historical photos and objects relating to the Japanese war of ...IN August of every year,the Japan-China Friendship Association organizes a touring exhibition around Japan themed＂Expose War for Peace.＂Exhibits include historical photos and objects relating to the Japanese war of aggression against China.The 2014 three-day exhibition started on August 10 and concluded on August 12 at the Nagoya Civic Assembly Hall.展开更多
The subprime crisis provoked a growing study on international housing market linkage. Nevertheless, the extant literature fails to explore housing price co-movements in terms of culture and a country＇s responses （e....The subprime crisis provoked a growing study on international housing market linkage. Nevertheless, the extant literature fails to explore housing price co-movements in terms of culture and a country＇s responses （e.g. housing market conditions and government participation）. Employing the databases on cultural similarities, housing market conditions and government participation in 18 OECD countries over 1970-2016, this article suggests that culture similarities affect house price co-movements via information dissemination efficiency and investment conduct consistency. In addition, housing supply elasticity and government participation are able to mitigate house price contagion. Hence, to withstand external shocks, countries should pay attention to the role of cultural similarities in housing price interdependence. Moreover, it is necessary to ensure that housing supply is resilient and improve government participation.展开更多
In the early 1900s, when Western women were just starting to fight for their rights to participate in government and political affairs, China’s women, who had just broken away from a feudal monarchy, also claimed tha...In the early 1900s, when Western women were just starting to fight for their rights to participate in government and political affairs, China’s women, who had just broken away from a feudal monarchy, also claimed that they wanted to participate in government and political affairs.In 1912, the Revolution of 1911, led by Sun Yat-sen-pioneer of China’s democratic revolution-overthrew the last feudal monarchy and the bourgeois Republic of China was founded. The women following sun Yat-sen were to put into action their demand to participate in government and political affairs.展开更多
文摘A creative solution to financial gap in Indonesian infrastructure development is the Public Private Partnership （PPP） scheme. One of the constraints in PPP implementation in toll road infrastructure is the lack of interest from the private sector, which are caused by the uncertainties defined as risks surrounding the project. This urges the importance of risk analysis on project investment to describe the measurement of risk allocated to the private sector. This paper aims at measuring the risks impacts on the project viability using Cileunyi-Sumedang-Dawuan （Cisumdawu） Toll Road section as the case and finding some creative way out. By employing Monte Carlo risk analysis technique we are able to measure the risk impact perceived by the private sector through probability distribution of the project NPV and IRR. Based on the result of Monte Carlo analysis on the Cisumdawu toll road, the overall risk impact perceived by the private sector is too much to bear. The risks considered as high-impact are risks on land acquisition, risks on construction, risks on toll revenue, risks on interest rates and disaster risks on post construction phase. The result shows the importance of decreasing the risk level on the mentioned risk that can be done through the increased participation of local government in managing the toll road projects. A creative solution again is needed to strike balance between the interest of private sector and that of public sector to deal with risks.
文摘IN August of every year,the Japan-China Friendship Association organizes a touring exhibition around Japan themed＂Expose War for Peace.＂Exhibits include historical photos and objects relating to the Japanese war of aggression against China.The 2014 three-day exhibition started on August 10 and concluded on August 12 at the Nagoya Civic Assembly Hall.
文摘The subprime crisis provoked a growing study on international housing market linkage. Nevertheless, the extant literature fails to explore housing price co-movements in terms of culture and a country＇s responses （e.g. housing market conditions and government participation）. Employing the databases on cultural similarities, housing market conditions and government participation in 18 OECD countries over 1970-2016, this article suggests that culture similarities affect house price co-movements via information dissemination efficiency and investment conduct consistency. In addition, housing supply elasticity and government participation are able to mitigate house price contagion. Hence, to withstand external shocks, countries should pay attention to the role of cultural similarities in housing price interdependence. Moreover, it is necessary to ensure that housing supply is resilient and improve government participation.
文摘In the early 1900s, when Western women were just starting to fight for their rights to participate in government and political affairs, China’s women, who had just broken away from a feudal monarchy, also claimed that they wanted to participate in government and political affairs.In 1912, the Revolution of 1911, led by Sun Yat-sen-pioneer of China’s democratic revolution-overthrew the last feudal monarchy and the bourgeois Republic of China was founded. The women following sun Yat-sen were to put into action their demand to participate in government and political affairs.
