Search results

This study aims to investigate the effects of mineral rents, conflict and population growth on countries' growth, with a specific interest in 13 selected economies in Sub-Saharan Africa.

This paper uses a combination of research methods: the pooled ordinary least squares (OLS), the fixed effect and the system generalized method of moment (GMM). The consistent estimator (system GMM), which provides the paper's empirical findings, remedies the inherent endogeneity bias in the model formulation. The utilized panel dataset for the study spans from 1980 to 2022.

The study suggests that mineral rents positively affect countries' growth by about 0.407 percentage points in the short run. The study further demonstrates the long-run negative impacts of population growth rates and prevalence of civil war on economic growth. The empirical work of the study reveals that an increase in the number of international borders within the group promotes mineral conflicts, which impedes economic growth. Evidence from the specification tests performed in the study confirmed the validity of the empirical results.

Mineral rents, if well managed and conditioned on good institutions, are a blessing to an economy, contrary to the assumptions that mineral resources are a curse. The utilization of mineral rents in Sub-Saharan Africa for economic growth depends on several factors, notably the level of mineral conflicts, population growth rates, institutional factors and the ability to contain civil war, among others.

This study is the first attempt in the post-coronavirus disease 2019 (COVID-19) era to revisit the investigation of the impacts of mineral rents, conflict and population growth rates on the countries' growth while controlling for the potential implications of the qualities of institutions. One of the significant contributions of the study is the identification of high population growth rates as one of the primary drivers of mineral conflicts that impede economic growth in the states with enormous mineral deposits in Sub-Saharan Africa. The crucial inference drawn from the study is that mineral rents positively impact countries' growth, even with inherent institutional challenges, although the results could be better with good institutions.

China is a major energy import powerhouse, its trade deals have significant impact on international energy trade and global energy markets. The purpose of this paper is to explore the role of energy in China’s preferential trade agreements (PTAs) and their impact on Chinese imports of oil, gas and coal.

An extended trade gravity model framework is applied to explore the dynamics of China’s annualized energy import flows from the 22 economies that have PTAs with it for the period 1995–2015.

The effect of PTAs on trade patterns varies across the product groups and agreement clauses. The dominant factor affecting trade flows of coal, crude oil and oil products is the average tariff level. Its impact is less significant for gas imports, which are more affected by policy arrangements represented by a PTA variable. The depth and scope of a PTA do not affect Chinese energy imports patterns.

This paper is focused on exploring the effect of China’s trade and foreign relations strategies on its energy imports through the prism of its PTAs. Estimating the direct impact of China’s initiatives in the areas of trade, investment, security, culture, etc., on its trade flows of energy products and other product groups using the methodological framework proposed in this study would contribute to better understanding of the issue.

The findings can assist both China and energy exporting countries that target Chinese market in better understanding the drivers of trade flows of energy products and design their PTA strategies accordingly.

This study applies the trade gravity model framework to assess the impact of specific components of preferential trade agreements – tariff reduction and depth and scope of agreement – on energy trade flows differentiated by product group.

In this paper, we examine the comparative advantage of Korea and China while focusing on their technology level. The three digit SITC (Standard International Trade Classification) data is classified by technology level and the revealed comparative advantage (RCA) is derived from 1992-2009 by using UN COMTRADE data. For careful interpretation of the comparative advantage and technology levels, we also examined intra-industry trade and unit values of bilateral Korea-China trade, and semi-conductor industry technology. We found that the revealed comparative advantage has moved from low technology products to high technology products in Korea. China still maintains a comparative advantage in low technology products such as textiles and clothing, but at the same time, China’s high and medium-high technology products have recently gained a comparative advantage. The perception that China only has a comparative advantage for labor intensive products with low technology should be changed based on our analysis. However, China’s advancement in technology should not be overestimated. When comparing the unit value of basic materials of Korea’s and China’s exports, we found that Korea’s export product prices are on average higher than that of China’s, although the gap is reducing. A wider technology gap between Korea and China still exists in the semi-conductor industry, which is one of the most advanced high technology industries throughout the world.

This study aims to examine the trend of industrial competition between the US and China, which is the most crucial determinant in the future development of the global economy. For decades, the global economy has strengthened the global production network based on the division of labor between countries. Thus, the ripple effect of competition between the two countries should be analyzed in terms of the global production network. Therefore, this study uses the product space model, which explains the development process of industries with comparative advantage by country. We constructed the model based on the products of HS 4-digit code for the 2010–2019 period. The analysis results on the trend of the industrial competitiveness of major countries are as follows. First, the current industrial competitiveness of China is concentrated on low-tech industries. In the case of high-tech items, China shows a tendency of lower export sophistication compared to major manufacturing powerhouses such as Germany, the US, Japan, and Korea. Second, with respect to the possibility of a future industrial structure upgrade evaluated by density, the trend of China overtaking other manufacturing powerhouses is observed. As implied by the product space model, the advancement of the industrial structure through active participation in international trade enhances the industrial competitiveness. Therefore, the outcome of US-China industrial competition depends on who ensures more openness and industrial complexity.

State ownership has been common especially in industries with restricted competition. In Russia, state-controlled firms represent around 41 percent of the market value of all listed firms (Deloitte, 2015). Yet, there is a significant gap in the literature regarding the effects of various forms of government control in listed firms. The purpose of this paper is to fill this gap by exploring the impact of the complexity of state ownership and competition on the performance of Russian listed firms.

The sample consists of data for 72 firms (360 firm-years) in the Russian MOEX broad market index during 2011–2015. The complexity of state ownership is captured by studying forms of state control including majority/minority, direct/indirect, federal/regional, mixed structures and golden shares.

The authors find significant differences in performance relating to different forms of state ownership. State control is negatively related to firm valuation and the sales/employees ratio. Performance is weakest when state ownership takes the form minority, regional or direct ownership. State control through golden shares typically outperforms other state-controlled firms. The authors find indications of employment prioritization beyond the economical optimum. In addition, the relation between state ownership and profitability becomes positive in sectors where state firms appear to enjoy lower competition.

While the effects of state ownership have been studied on many markets, there is a lack of studies on the effects of different forms, or the complexity, of state ownership beyond direct and indirect ownership. The authors contribute to the literature on the performance effects of state ownership by studying a multitude of forms of governmental ownership as well as the role of competition in Russia. Especially the profitability of state-controlled firms is significantly affected by industry characteristics. Implications of the results are discussed both from firm and policy maker perspectives.

The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat contributes significantly to the country’s socio-economic development and prosperity. However, in Malaysia and other Islamic countries, there is not yet a proper mechanism for calculating zakat on extracted minerals. Similar to gold and silver, oil and gas are valuable minerals, which, upon extraction, are subject to zakat payment. In Malaysia, however, this is not the case.

This study uses a qualitative method. It presents a thorough review on the stipulation for paying zakat on minerals, specifically oil and gas. The deliberation is based on secondary data entailing a comprehensive content analysis of prominent books on the subject, current zakat rulings and legal acts on oil and gas.

Oil and gas are subject to zakat payment, as indicated in several Qurʾānic verses and based on the academic reasoning of Muslim scholars. The zakat calculation for oil and gas entails the nisāb (minimum threshold value of the assets) but not the ḥawl (the requirement for one full Islamic year of ownership for the assets), by analogy with zakat on agricultural produce. Despite the obligation to pay zakat on minerals under the zakāt al-māl (alms due on wealth) category, oil and gas is yet to be fully subject to this practice in Malaysia, although the country is known as an oil-producing Muslim country. Several legislative acts covering the managerial and business side of oil and gas operations have long been established, but the provision on zakat remains unclear. Hence, comprehensive legislation is needed to fine-tune the Malaysian oil and gas system, particularly with regard to zakat.

This study relies mainly on secondary data and literature without performing any empirical investigations.

In terms of academic implication, this study enriches the existing body of knowledge on zakat. Practical implications would include enhanced decision-making concerning zakat on oil and gas on the part of zakat institutions, policymakers and the government of Malaysia.

This study provides practical and academic contributions to the deep understanding of zakat on oil and gas, which has received very little attention in the existing body of literature. Despite being limited in literature, this is a breakthrough study that sheds light on zakat on oil and gas.

Apart from the basic material properties of liquid lubricants, such as, e.g., the viscosity and density of the hydraulic fluid, it is also important to have information regarding the electrical properties of the fluid used. The latter is closely related to the purpose, type, structure, and conditions of use of a hydraulic system, especially the powertrain design and fluid condition monitoring. The insulating capacity of the hydraulic fluid is important in cases where the electric motor of the pump is immersed in the fluid. In other cases, on the basis of changing the electrical conductive properties of the hydraulic fluid, we can refer its condition, and, on this basis, the degree of degradation.

The paper first highlights the importance of knowing the electrical properties of hydraulic fluids and then aims to compare these properties, such as the breakdown voltage of commonly used hydraulic mineral oils and newer ionic fluids suitable for use as hydraulic fluids.

Knowledge of this property is crucial for the design approach of modern hydraulic compact power packs. In the following, the emphasis is on the more advanced use of known electrical quantities, such as electrical conductivity and the dielectric constant of a liquid.

Based on the changes in these quantities, we have the possibility of real-time monitoring the hydraulic fluid condition, on the basis of which we judge the degree of fluid degradation and its suitability for further use.

This study aims to investigate why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry.

This study is a doctrinal legal research that embraces a point-by-point comparative methodology with a library research technique.

This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Finally, this study finds that anti-corruption organisations in Nigeria are not efficient due to non-existence of the Federal Government’s political will to fight corruption, insufficient funds and absence of stringent implementation of the anti-corruption legal regime in the country.

Investigations reveal during this study that Nigerian National Petroleum Corporation (NNPC) operations are characterised with poor record-keeping, lack of accountability as well as secrecy in the award of oil contracts, oil licence, leases and other financial transactions due to non-disclosure or confidentiality clauses contained in most of these contracts. Also, an arbitration proceeding limit access to their records and some of these agreements under contentions. This has also limited the success of this research work and generalising its findings.

This study recommends, among other reforms, soft law technique and stringent execution of anti-corruption statutes. This study also recommends increment in financial appropriation to Nigeria’s anti-corruption institutions, taking into consideration the finding that a meagre budget is a drawback.

This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Corruption flourishes due to poor enforcement of anti-corruption laws and the absence of political will in offering efficient regulatory intervention by the government.

The study advocates the need for enhancement of anti-corruption agencies' budgets taking into consideration the finding that meagres budgets are challenge of the agencies.

Despite the global resolves to curtail fossil fuel consumption (FFC) in favour of clean energies, several countries continue to rely on carbon-intensive sources in meeting their energy demands. Financial constraints and limited knowledge with regards to green energy sources constitute major setbacks to the energy transition process. This study therefore aims to examine the effects of financial development and human capital on energy consumption.

The empirical analysis is based on the system generalised method of moments (SGMM) for a panel of 134 countries from 1996 to 2019. The SGMM estimates conducted on the basis of three measures of energy consumption, notably fossil fuel, renewable energy as well as total energy consumption (TEC), provide divergent results.

While financial development significantly reduces FFC, its effect is positive though non-significant with regards to renewable energy consumption. Conversely, financial development has a positive and significant effect on TEC. Moreover, the results reveal that human capital development has an enhancing though non-significant effect on the energy transition process. In addition, the results reveal that resource rents have an enhancing effect on the energy transition process. However, when natural resources rents are disaggregated into various components (oil, coal, mineral, natural gas and forest rents), the effects on energy transition are divergent. Although our findings are consistent when the global panel is split into developed and developing economies, the results are divergent across geographical regions. Contingent on these findings, actionable policy implications are discussed.

The study complements extant literature by assessing nexuses between financial development, human capital and energy transition from a global perspective.

To decrease wear and friction, zinc dialkyldithiophosphate (ZDDP) has been used in engine oil for several decades, but the mechanism of the tribofilm formation is still unclear. The purpose of this study is to characterize the chemical details of the tribofilm by using high-resolution approaching.

An ISO VG 100 mineral oil mixed with ZDDP was used in sliding tests on cylindrical roller bearings. Tribofilm formation was observed after 2 h of the sliding test. X-ray photoelectron spectroscopy (XPS) and atom probe tomography (APT) were used for chemical analysis of the tribofilm.

The results show that the ZDDP tribofilm consists of the common ZDDP elements along with iron oxides. A considerable amount of zinc and a small amount of sulfur were observed. In particular, an oxide interlayer with sulfur enrichment was revealed by APT between the tribofilm and the steel substrate. The depth profile of the chemical composition was obtained, and a tribofilm of approximately 40 nm thickness was identified by XPS.

A sulfur enrichment at the interface is observed by APT, which is beneath an oxygen enrichment. The clear evidence of the S interlayer confirms the hard and soft acids and bases principle.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-01-2020-0035/