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By implementing various forms of preference policies, countries around the world intervene in their economies for their own political and economic purposes. Likewise, twenty-five states in the U.S. have implemented in-state preference policies (NASPO, 2012) to protect and support their own vendors from out-of-state competition to achieve similar purposes. The purpose of this paper is to show the connection between protectionist public policy instruments noted in the international trade literature and the in-state preference policies within the United States. This paper argues that the reasons and the rationales for adopting these preference policies in international trade and the states' contexts are similar. Given the similarity in policy outcomes, the paper further argues that the international trade literature provides an overarching explanation to help understand what states could expect in applying in-state preference policies.

This paper examines how voters' initiatives used in 24 states affect state budget balance. The author first uses a qualitative approach to investigate the extent to which ballot initiatives are used and identifies the initiatives that have had significant impacts on state revenues and expenditures. The review shows that the impact of initiatives differs from a state to state. The heavy initiative user states have experienced substantial impact on their budgets. Second, as their impact on state budget is particularly significant during economic downturn, a linear regression analysis is performed to examine the relationship between the use of initiatives and state budget balance measured in terms of the state budget gap as percentage of FY 2010 general fund. The regression analysis shows that the number of expenditure-induced initiatives have a statistically significant effect on state budget gap, while revenue-restrained measures (e.g. number of tax-limiting measures and the use of super majority or popular vote to approve tax increase) only marginally affect the FY 2010 budget gap.

The purpose of this paper is to present an on-line modeling and controlling scheme based on the dynamic recurrent neural network for wastewater treatment system.

A control strategy based on rule adaptive recurrent neural network (RARFNN) is proposed in this paper to control the dissolved oxygen (D_O) concentration and nitrate nitrogen (S_No) concentration. The structure of the RARFNN is self-organized by a rule adaptive algorithm, and the rule adaptive algorithm considers the overall information processing ability of neural network. Furthermore, a stability analysis method is given to prove the convergence of the proposed RARFNN.

By application in the control problem of wastewater treatment process (WWTP), results show that the proposed control method achieves better performance compared to other methods.

The proposed on-line modeling and controlling method uses the RARFNN to model and control the dynamic WWTP. The RARFNN can adjust its structure and parameters according to the changes of biochemical reactions and pollutant concentrations. And, the rule adaptive mechanism considers the overall information processing ability judgment of the neural network, which can ensure that the neural network contains the information of the biochemical reactions.

The use of public procurement as a vehicle for implementing various socioeconomic preference policies has a long history. This article reviews the current state of affairs of procurement preference programs with regard to U.S. state and local governments and analyzes their impact on both the recipients and on the public procurement process. Opportunities for further research are noted, and the authors conclude that the ability to navigate the difficult waters of socioeconomic preferences should be a core competency of state and local public procurement officials.

Public agencies have started to shift away from the traditional lowest responsive and responsible bid to other approaches in purchasing certain items and services. These alternative approaches emphasize the quality of the products and the qualifications of the vendors. The purpose of this article is to explore the use qualifications-based selection (QBS) and other non-traditional source selection methods in public procurement processes. An online survey was sent out to 1665 members of the National Institute of Governmental Purchasing, and a mail survey sent a random sample to 300 American Public Works Association members. The survey results show that while the traditional lowest responsive and responsible bidding is still the dominant selection method when all procurement is considered, QBS and other non-traditional methods have gained wide acceptance and use in public agencies, especially for the purchase of professional services and information technology.

Public risk management is a relatively new but important element of public management and public budgeting. As research in this area is limited, this study attempts to advance knowledge on two specific elements of public risk management based on a survey sent to the Public Risk Management Association (PRIMA) members in 2002. 1) How do public entities use various risk funding techniques (e.g., purchasing insurance, self-insurance, and intergovernmental risk pools)? 2) Have public entities implemented integrated risk management in their risk management practices? The survey found evidence that integrated risk management is emerging in public risk management practice. As this is an exploratory study, the author also identifies a series of questions for future research.

This paper uses the Missouri Fiscal Year (FY) 2004 budget as a case study to illustrate two aspects of the recent state budgetary problems: its structural budget deficits and the politics involved in balancing a budget. The paper also highlights the dilemma that government faces in meeting constant public demand for services while revenue sources are restrained.

This article discusses interstate fiscal disparities in the context of welfare reform. It presents the trend of interstate fiscal disparities during 1970-1996 and highlights the need to study how the welfare reform of 1996 affects interstate variances in welfare support.

This article addresses some of the critical issues with respect to public procurement of information technology (IT). The article provides results from surveys of state public information managers and technology vendors who provide services to government to determine if IT procurements have improved in the ten years since the Kelman study on public procurements and suggests opportunities to improve public IT procurements.

To introduce the Securities Law of the People's Republic of China (the “Securities Law 2019”) revised on 28 December 2019, and provide a detailed analysis on its key implications to the securities regulatory regime and market activities, especially securities issuance and trading activities in China.

This article starts from a historical overview of the Securities Law and its several revisions and amendments, highlights the notable core revisions in the Securities Law 2019, analyzes the key legal and regulatory impacts to the securities-related activities and market players, and finally, provides an outlook to the future developments of securities regulatory regime in conformity with the Securities Law 2019.

This article concludes that the revisions made to the Securities Law 2019 cover a broad range of issues including the issuance and trading of securities, acquisition of a listed company, information disclosure, securities registration and settlement, etc. Such revisions to the Securities Law will lead to far-reaching and profound implications on the securities regulatory system and industry practice in China.

The Securities Law 2019 attracts broad attention from securities market players as well as relevant professionals of the industry, including securities lawyers. As this is a novel and hot topic within the industry, it is important for securities lawyers to keep on track.

High-level guidance from experienced lawyers in the Capital Markets and Financial Regulation practices.