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This study aims to identify project funding shortcomings in the existing literature and evaluate the financing channels accordingly.

This paper uses a structured literature review – a content analysis method. Then, the comparative analysis applied to data gathered from the content analysis.

To define the main research topics and establish a focus on hydroelectric power plant (HEPP) financing, a comprehensive structured literature review was conducted. According to the results of this study, there are three main categories of HEPP financing studies in the literature, namely, financing channels and products, factors that complicate financing and financing- risk relationship of HEPP projects. According to these findings, which criteria most affecting HEPP financing and which financing channel is the most suitable are determined.

Among all financing channels, only direct debt sources are selected.

This study is structured as a simple lender selection guide for HEPP investments. Selection criteria are applicable for both lenders and investors. For lenders, those criteria are expected to improve loan performance and optimize financial product selection. For investors, those criteria are expected to help choosing suitable products and improve revenues.

This study will contribute the researchers those intended to work on the topic.

This study will contribute to limited literature on HEPP financing. Project finance literature is limited and narrow even there is no study that investigates hydropower project finance sourcing. In this manner, this study can be considered as a pioneer.

This paper explores the role of colonial heritage on long-term economic development from a resource-curse perspective. The authors investigate the impact of colonial exports on long-term economic development through two channels: (1) a direct impact of the economic dependency on natural resources and (2) an indirect impact via its effect on colonial institutions, which persisted over time and influenced current economic development.

To address this issue, the authors use an original data set on French bilateral trade from 1880 to 1912. The authors use partial least square structural equation modeling (PLS-SEM) in the empirical analysis, so that the authors are able to construct latent variables (LVs) for variables that are not directly observable, such as the quality of institutions.

The authors find that exports of primary goods to France had a negative impact on colonial institutions and that for French colonies, this impact was driven by minerals exports. Despite its impact on colonial institutions, exports of French colonies had no significant indirect impact on their current institutions. The authors find no significant direct impact of colonial trade on current development for French colonies. Finally, colonial exports of manufactured products had no significant impact on colonial institutions among French colonies and a positive impact among non-French ones.

Research implications regarding the findings of this paper are, namely, that the relative poor performance within French colonies today cannot be attributed to the extraction of raw materials a century ago. However, human capital and institutional development, instead of exports, are more relatively important for long-term growth. Some limitations in trying to determine the simultaneous relationship among colonial trade, institutions and economic performance are the relation between colonial trade and the extent of extraction from the colonizer, which is hard to quantify, as well as its precise mechanism.

Since the initial institutions set in those former colonies presented a strong persistence in the long run, their governments should focus now on building sound and inclusive political and economic institutions, as well as on investing in human capital in order to foster long-term growth. Once a comprehensive set of institutional and human resources are put in place, the quality and quantity of exports might create a positive spillover on the short-run growth.

One social implication that can be retrieved from this study is the ever-lasting effect of both human capital investment and introduction of inclusive political and economic institutions on the long-run impact of growth.

The paper uses an original primary data set from archival sources to explore the role of colonial heritage on long-term economic development from a resource-curse perspective. It applies a relatively new model partial least squares path modeling (PLS-PM) that allows the construction of LVs for variables that are not directly observable, as well as channeling the impact on growth through both direct and indirect channels. Finally, it allows for the simultaneous multigroup analysis across different colonial groups.

Reports the design, fabrication and packaging of a micromachined silicon/Pyrex based chip for the polymerase chain reaction (PCR). The anodic bonding method is used for sealing the chambers of 1μl volume with a Pyrex glass wafer. Platinum resistors on the back of the wafer are used as heaters and temperature sensors. The chip is externally cooled by forced air to achieve rapid temperature cycling. The transparency of the Pyrex makes it possible for using optical readout methods. The packaging is especially designed for easy handling, filling, power connection, temperature regulation and optical readout. The mass production of such silicon reactors could make single‐shot throwaway devices economically viable.

This article aims to discuss the construction of a system for temperature cycling, where Peltier elements are used as heating or cooling elements. This article describes the results and experiences based on several years of practice in the area of thermo-mechanical reliability of soldered joints on printed boards with SMD components.

The authors discuss the characteristics of the design, the threshold temperatures, dynamic properties of the system and, most importantly, the reliability and the useful life of the Peltier elements. The advantages and disadvantages of the system are mentioned as well as examples of use.

The utilisation of Peltier elements for temperature cycling is possible, but it is important to keep in mind that the reliability of the elements is similar to the reliability of the system, and therefore, it is essential to replace the defective Peltier elements during the cycling.

The construction of system is very simply. It is necessary to ensure the Peltier elements with low dispersion parameters.

The system is very well suited for cycling of printed boards, especially one sided, multi-chip systems, COB systems, flip-chip embedded construction, etc. The system can be used in situations where it is possible to ensure an effective heat transfer and where extremely low temperatures are not required.

This paper aims to determine the underlying structural foundations that explain why mega (large-scale) corruption exists in an ever-more sophisticated form and how and why the phenomenon remains an intractable threat to global socio-economic stability and sustainable development.

Post-colonial theory is used along with critical perspectives on corruption in international business. The paper privileges the decolonization of the current paradigm where “hegemonic orthodoxy” is maintained and enforced through domesticated criticism of corruption in academic literature and in the media.

The author explains the foundations of “International mega-Corruption Incorporated” (ImC Inc.) and concludes that apart from being the results of greed and criminal intent, it is a designed and weaponized violent instrument for undermining human progress. ImC Inc. occurs through resource control and the manipulation of institutions. Thus, the same theories, the same analyses and the same media exposés on the “pandemic of ImC Inc.” are followed by the same inactions or lacklustre interventions that ignore the powerful international financial institutions serving as the major facilitators.

The nature of ImC Inc. as an existential threat requires mass awareness about its historicity and deep-seated influence on institutions, in order for stakeholders to form a countervailing power to proactively disrupt it in its complexity and in contextually meaningful ways.

This paper provides useful clarifications about specific factors that determine how ImC Inc. exists and thrives in its current form and how to deploy sweeping, corrective and pre-emptive interventions rather than reactionary policies against ImC Inc.

One of the key drivers behind the recent growth in the global solar energy market is the decline in solar module prices. Many empirical analyses have been carried out to identify the mechanism behind this price reduction. However, studies on the price reduction mechanism of solar modules over the years have focused purely on the technological aspect of manufacturing. The purpose of this study is to consider the influence of economic and monetary factors such as the interest rate and exchange rate on solar module pricing in addition to other factors that considered in earlier studies including technology, wage rate and other energy prices.

In this paper, an oligopolistic model and econometric method are used to determine the economic factors that have an influence on solar module prices. The paper constructs a solar module pricing model and conducts a fully modified ordinary least squares analysis to estimate the influence of each factor. Analysis is conducted for the top five solar module producing countries in the world from 1997 to 2015. The five countries are the People’s Republic of China, Germany, Japan, the Republic of Korea and the USA.

Empirical analysis provides several findings concerning the solar module pricing mechanism. These vary for each country. However, generally the interest rate has a positive correlation with solar module prices, while the exchange rate, knowledge stock and oil price have a negative correlation with solar module prices.

First, the government must expand channels for renewable energy funding. As renewable industries are high-tech, the influence that capital cost has on technology price is significant. Government efforts to provide industries with low-interest finance will accelerate renewable business. There have been many attempts to lower interest rates for renewable energy technology to accelerate growth in the green technology market. Second, the government must expand research and development (R&D) expenditures focused on renewable energy technology. The technological advancements acquired through R&D enhance module performance efficiency, thereby reducing costs. Therefore, government policies aimed at increasing targeted R&D expenditure will be an effective means of expanding the installation of renewable energies.

Studies on the price reduction mechanism of solar modules over the years have focused purely on the technological aspect of the manufacturing. This is the first research to bring economic, monetary and technological factors of solar module pricing together.

A study of the effect of poling conditions on screen‐printed piezoceramics was undertaken. Printable pastes were produced, using a commercially available lead zirconate titanate (PZT) powder, mixed with two types of binder, lead (II) oxide and a lead borosilicate glass. Sample devices were fabricated using the two paste types and processed, using standard thick film techniques, before being poled under varying conditions. Samples were compared by measurement of piezoelectric charge constant, d₃₃ and using scanning electron microscopy techniques. Temperature and time are shown to increase poling efficiency, while poling field reaches an optimum at 2‐3 MV m^‐1. The PZT layers start to fail through a process of dielectric breakdown at fields of 3.5 MV m^‐1 and above.

The purpose of this paper is to examine the causal relationship between the copper price dynamics and economic growth in Zambia over the period from 1995 to 2015.

The study uses a data set assembled from five difference sources: the heritage foundation; the London metal exchange index; the Penn World Tables version 9.0; the total economy database; and the World Bank Development Indicators. The paper employs the Bayesian Model Averaging (BMA) approach as the estimation technique.

The estimates demonstrate that there exists a positive and significant relationship between movements in copper prices and economic growth in Zambia. The study draws policy implications from these findings.

This study is limited to the period from 1995 to 2015, this is due to lack of data on the country’s institutional indicators, trade openness and the real exchange rate.

There have been calls to diversify the economy of Zambia due to the recurring chaotic events, which are often induced by over-dependence on copper exports. Thus, the study findings will be useful to academia, policy makers and stakeholders with vested interest in the economy of Zambia.

To the best of the author’s knowledge, this is the first empirical study to investigate the causal relationship that exists between copper prices and economic growth in Zambia. The existing empirical studies in the domain have devoted their attention on establishing the relationship between commodity price movements and exchange rates in Zambia.

The purpose of this paper is to investigate the resource rents–quality-adjusted human capital nexus and the impact of quality of institutions.

For a large data set of 161 countries for the period 1996–2018 (yearly and 4-year periods), fixed effect estimation method is applied to investigate the impact of resource rents on quality-adjusted human capital and the role of quality of institutions on this relationship.

The paper found little evidence on the negative, significant and direct impact of total resource rents on quality-adjusted human capital. However, the results show that the negative effect of resource rents can be mediated by the quality of institutions. This result is robust to a long list of controls, different specifications and estimation techniques, as well as several robustness checks. Therefore, institutional quality seems to play a critical role in determining the indirect impact of natural resources on human capital. Moreover, the obtained results demonstrate that this resource adverse effect depends on the type of resource rents; in particular, high dependency on oil rents in developing countries appears to harm human capital.

The paper shows that it is not obvious that total resource rents decrease human capital and found that the coefficient is no longer significant in the two-way fixed effects model. However, the analysis has emphasized the crucial role of political institutions in this relationship and has shown that countries with higher quality of institutions make the most of their resource rents transiting to a better human capital environment. This result is found to be robust to a list of controls, different specifications and estimation techniques, as well as several robustness checks. In addition, we demonstrate that not all resources affect human capital in the same way and found that oil rents have a significant negative effect on human capital. This is an important distinction since several countries are blessing from oil rents. From this we conclude that the effect of natural resources on human capital varies across different types of commodities. On the other hand, the interaction between institutions and the sub-categories of resource rents shows that oil rents can increase human capital only in developing countries with higher quality of institutions (above the threshold). This result is also still hold while using alternative measures of political institutions.

The results in this paper have important policy implications. In particular, results highlight important heterogeneities in the role resource rents to the economy. As international commodity prices have shown high volatility in recent years, it is important for policy makers to understand the rents. Rents which are the difference between the price of a commodity and the average cost of producing it can have different effects in the economy, including the human capital. It is shown that in countries with low-quality institutions, natural resource rents negatively affect institutional quality, leading to conflicts, corruption and fostering rent-seeking activities. Overall, this reinforces the elite at the power that, obviously, is interested in preserving the status quo. In other words, there is a vicious circle between resource rents and low-quality institutions that impedes institutional change. How to regulate this in the best possible way requires a good understanding of how resource rents are generated and appropriated for different sectors, their different effects and how people react to these rents. The evidence suggests the policy toward better political institutions may help countries to improve social outcomes such as health and education which offer high social returns.

The paper is part of the author's PhD research and is an original contribution.

PROGRAMME Evaluation and Review Technique, familiarly known as PERT, is a vital subject which is growing rapidly. Recognition of this drew an interested audience to a symposium at Keele University on July 13, when 14 companies contributed papers on different aspects of critical path‐planning techniques and their experience as users in such disparate fields as shipbuilding, aviation, nuclear and civil engineering, the chemical and electrical industries, and management consultancy.