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The purpose of this paper is to analyze the oil price pass‐through into consumer price inflation for a developing country: Malaysia. The focus is on whether aggregate consumer prices and different consumer price components or sub‐price indexes are related in different ways to oil price in the long run and in the short run.

The analysis adopts the Phillips curve framework augmented to include the oil price. In modeling, a proper consideration is given to the integration and cointegration properties of the variables under consideration. Moreover, the asymmetric effects of oil price changes are also examined.

The paper finds evidence for a long run relation or cointegration of the oil price with only the aggregate consumer price and food price indexes. Moreover, in the short run, the oil price changes have significant bearings on the consumer price inflation, the food price inflation, the rent, fuel and power price inflation and the transportation and communication price inflation. In addition, the short‐run asymmetry in the oil price – food price inflation is also evident. Finally, the authors observe the neutrality of the medical care and health price index to the oil price changes.

The result that the inflationary consequence of oil price hikes is likely to work mainly through the food prices has important implications on the effects of oil price changes on the poor and policy directions to contain inflation.

The paper contributes to existing literature that has a predominant focus on the inflationary effect of oil prices at the aggregate level by looking at the relations between oil price and disaggregated good prices in the long run, short run, or both.

This chapter analyzes the exchange rate pass-through (ERPT) into different prices for 12 euro area (EA) countries. We provide new up-to-date estimates of ERPT by paying attention to either the time-series properties of data and variables endogeneity. Using VECM framework, we examine the pass-through at different stages along the distribution chain, that is, import prices, producer prices, and consumer prices. When carrying out impulse response functions analysis, we find a higher pass-through to import prices with a complete pass-through (after one year) detected for roughly half of EA countries. These estimates are relatively large compared to single-equation literature. We denote that the magnitude of the pass-through of exchange rate shocks declines along the distribution chain of pricing, with the modest effect recorded for consumer prices. When assessing for the determinant of cross-country differences in the ERPT, we find that inflation level, inflation volatility, and exchange rate persistence are the main macroeconomic factors influencing the pass-through almost along the pricing chain. Thereafter, we have tested for the decline of the response of consumer prices across EA countries. According to multivariate time-series Chow test, the stability of ERPT coefficients was rejected, and the impulse responses of consumer prices over 1990–2010 provide an evidence of general decline in rates of pass-through in most of the EA countries. Finally, using the historical decompositions, our results reveal that external factors, that is, exchange rate and import prices shocks, have had important inflationary impacts on inflation since 1999 compared to the pre-EMU period.

The purpose of this paper is to examine and compare the interest rate pass-through among the Brazil, Russia, India, China and South Africa (BRICS) emerging markets.

The paper reviews a general literature on interest rates pass-through by applying a cointegration and asymmetric mean adjustment lag (MAL) error correction methodology (ECM).

A symmetric adjustment is found in Russia, China and South Africa's deposit rate, while an asymmetric adjustment is found in Brazil and India's deposit rate adjustments. The presence of a customer reaction theory is found in Brazil, India, China and South Africa's deposit rate adjustments, while a collusive pricing arrangement is found in Russia. From the lending rate adjustment, a collusive pricing arrangement was found in Brazil, China and South Africa, while a customer reaction theory was found in India and Russia.

The sample period used in the study covers a period starting from the formal recognition of BRIC (2001-2010), which limits the data length.

The research output and implication can assist monetary policy makers, investors and consumers to monitor BRICS’ central banking, commercial banking and competition behaviour, individually and as a group. The BRICS are potentially heading towards a more financially integrated bloc as multilateral agreements among members increases. This is in the form of Letters of Credit and Memorandum of Understanding. These agreements should boost intra-BRICS financial transactions, investments and trade.

This is, to the best of knowledge, the first analysis of BRICS interest rate pass-through using the asymmetric MAL ECM application.

The paper aims to begin with a brief review of early banking and finance methods, early logistics routes through Europe, and message delivery modes in medieval China, the paper then proposes to move on to a comparative study of modern logistics modes in the European Union and in India – in particular the ports of Le Havre (France) and Mangalore (Karnataka).

The data are derived from secondary sources, including the local press in India as well as official European Union (EU) documentation.

Given the cultural and political differences between the EU and India, their logistics and hinterland development are very different in deployment and scope: Le Havre “scores” much more highly than Mangalore and the EU is much more coherently developed than India.

Le Havre, France, and the EU are well placed through their integrated logistics development to merge with the proposed Euro‐Asia‐America “land‐bridge” which initially will be based on a redeveloped Trans‐Siberian rail network; whereas the southern “Silk Road” development, taking in India, is floundering due to many factors inhibiting implementation of this new network.

The paper will be of interest to those who wish to view the development of intercontinental logistics routes, and to grasp the future potential for new trade links between the Pacific and the Atlantic ports.

Sections of the world's population have always been short of food, the menace of famine ever present. Among primitive peoples, the search for food is their greatest preoccupation. In the years before the first Great War, in the civilised countries of the west, including our own, the persistent poverty of the casual and unskilled workers, helped and held to a permanent state in so many cases by improvidence, was often stretched to near‐starvation, and with few agencies really capable of affording adequate relief. Families went short of food for fairly long periods, especially in the industrial areas and towns and this during times when a dozen stale loaves could be bought for a shilling and a pint of skimmed milk for a halfpenny. In the rural areas, nature helped a little and the country folk could talk of the pleasurable flavour of a rook pie and comb the hedgerows for edible roots, but here too were the cruel flashes when men went to prison for snaring a rabbit on private land or stealing a few swedes from a farmer's clamp.

The purpose of this paper is to identify the main reasons for spare parts logistics failures and address logistics distribution design in order to achieve the desired level of after-sales maintenance service.

This research is based on an empirical case study on a large corporation providing worldwide with retail banking hardware, software and services. The case study focuses on the automated teller machine (ATM) part of activities, with a focus on the spare parts distribution and after-sales service network in the Eastern Europe.

The proposed network solution of multiple distribution centers with short-cut distance saving approach will enable the case study company to redesign their spare part logistics architecture in order to achieve short response time. Research findings reveal possible spare parts delivery delays and thus the service-level agreement failures with clients in the case study company.

This research covers a particular supply chain environment and identified research gaps. It discusses a time-based responsive logistics problem and develops a conceptual framework that would help researchers to better understand logistics challenges of installed equipment maintenance and after-sales service.

This case study research shows the “big picture” of spare parts logistics challenges as vital part of installed equipment after-sales and maintenance service network, as well as emphasizes how the unique context of a market like Russian Federation can set-up a distribution network efficiently. Strategies applied to handle such service-level failures, reverse logistics aspects of repairable and non-repairable spare parts to such large ATM after-sales service network based on this longitudinal case offer value for similar scale companies.

Argues the importance of foreign aid for industrial development programmes in Africa. Suggests desirable management and administrative objectives and outcomes of foreign aid for industrial development in terms of discussion of the strategic adaptation to foreign aid culture and “tame” industrial development base in Africa. Argues that African countries should make effective use of foreign aid received from the developed countries. But for this to take place, African countries should examine foreign aid in terms of commodities that can be bought and sold. Suggests that foreign aid should be “project‐tied” and its implementation closely monitored. Discusses the effects of foreign aid on industrial development in Africa.

Emissions produced by oceangoing vessels not only negatively affect the environment but also may deteriorate health of living organisms. Several regulations were released by the International Maritime Organization (IMO) to alleviate negative externalities from maritime transportation. Certain polluted areas were designated as “Emission Control Areas” (ECAs). However, IMO did not enforce any restrictions on the actual quantity of emissions that could be produced within ECAs. This paper aims to perform a comprehensive assessment of advantages and disadvantages from introducing restrictions on the emissions produced within ECAs. Two mixed-integer non-linear mathematical programs are presented to model the existing IMO regulations and an alternative policy, which along with the established IMO requirements also enforces restrictions on the quantity of emissions produced within ECAs. A set of linearization techniques are applied to linearize both models, which are further solved using the dynamic secant approximation procedure. Numerical experiments demonstrate that introduction of emission restrictions within ECAs can significantly reduce pollution levels but may incur increasing route service cost for the liner shipping company.

Two mixed-integer non-linear mathematical programs are presented to model the existing IMO regulations and an alternative policy, which along with the established IMO requirements also enforces restrictions on the quantity of emissions produced within ECAs. A set of linearization techniques are applied to linearize both models, which are further solved using the dynamic secant approximation procedure.

Numerical experiments were conducted for the French Asia Line 3 route, served by CMA CGM liner shipping company and passing through ECAs with sulfur oxide control. It was found that introduction of emission restrictions reduced the quantity of sulfur dioxide emissions produced by 40.4 per cent. In the meantime, emission restrictions required the liner shipping company to decrease the vessel sailing speed not only at voyage legs within ECAs but also at the adjacent voyage legs, which increased the total vessel turnaround time and in turn increased the total route service cost by 7.8 per cent.

This study does not capture uncertainty in liner shipping operations.

The developed mathematical model can serve as an efficient practical tool for liner shipping companies in developing green vessel schedules, enhancing energy efficiency and improving environmental sustainability.

Researchers and practitioners seek for new mathematical models and environmental policies that may alleviate pollution from oceangoing vessels and improve energy efficiency. This study proposes two novel mathematical models for the green vessel scheduling problem in a liner shipping route with ECAs. The first model is based on the existing IMO regulations, whereas the second one along with the established IMO requirements enforces emission restrictions within ECAs. Extensive numerical experiments are performed to assess advantages and disadvantages from introducing emission restrictions within ECAs.