This paper proposes a floating-interest-rate infrastructure bond, where the interest of a government bond is paid to investors during the period of construction and the early period of operation. Unlike the usual government bond, which provides a fixed interest rate, the proposed floating-interest-rate infrastructure bond pays a floating interest, the rate of which depends on spillover tax revenues. Effective infrastructure projects have a positive effect on the economic growth of a region, known as the spillover effect. When user charges and the return from spillover tax revenues are below the fixed rate of the government bond, the interest rate will equal to the fixed rate of the government bond. In this case, investors in the infrastructure will receive interest on the government bond at the minimum rate. As the spillover effect of the infrastructure increases, the rate of return for infrastructure investment will become greater than the fixed rate of the government bond. The success of the floating-interest-rate infrastructure bond depends on the spillover effect and on transparency and accountability. Policy recommendations are provided in this paper on how to increase the spillover effect and improve transparency and accountability. 

In many cases, the expected efficiency advantages of public-private partnership (PPP) projects as a specific form of infrastructure provision did not materialize ex post. From a Public Choice perspective, one simple explanation for many of the problems surrounded by the governance of PPPs is that the public decision-makers being involved in the process of initiating and implementing PPP projects (namely, politicians and public bureaucrats) in many situations make low- cost decisions in the sense of Kirchgässner (1948–2017). That is, their decisions may have a high impact on the wealth of the jurisdiction in which the PPP is located (most notably, on the welfare of citizen-taxpayers in this jurisdiction) but, at the same time, these decisions often only have a low impact on the private welfare of the individual decision-makers in politics and bureaucracy. The latter, for example, in many settings often have a low economic incentive to monitor/control what the private-sector partners are doing (or not doing) within a PPP arrangement. The purpose of this paper is to draw greater attention to the problems created by low-cost decisions for the governance of PPPs. Moreover, the paper discusses potential remedies arising from the viewpoint of Public Choice and Constitutional Political Economy.

Urban trees are one of the valuable storage in metropolitan areas. Nowadays, a particular attention is paid to the trees and spends million dollars per year to their maintenance. Trees are often subjected to abiotic factors, such as fungi, bacteria, and insects, which lead to decline mechanical strength and wood properties. The objective of this study was to determine the potential degradation of Elm tree wood by Phellinus pomaceus fungi, and Biscogniauxia mediteranae endophyte. Biological decay tests were done according to EN 113 standard and impact bending test in accordance with ASTM-D256-04 standard. The results indicated that with longer incubation time, weight loss increased for both sapwood and heartwood. Fungal deterioration leads to changes in the impact bending. In order to manage street trees, knowing tree characteristics is very important and should be regularly monitored and evaluated in order to identify defects in the trees.

In this study, the effect of porogenic solvents on pore size distribution of the polycaprolactone (PCL) thin films was investigated. Five thin PCL films were prepared using the solvent-casting method. Chloroform, Methylene Chloride (MC) and three different compositions of MC/ Dimethylformamide (DMF) (80/20, 50/50 and 20/80) were used as solvents. Scanning Electron Microscopy (SEM) investigations were employed to study morphology and consequently the pore size distribution of the prepared films. The PCL films made by chloroform and MC as a solvent were completely non-porous. Whereas the other films (made by a combination of MC and DMF) showed both uni-modal and bi-modal pore size distributions.

Vegetable production is an important sector of economy for farmers in Nepal. The analysis was carried out to explore the trends in vegetable production sector in Nepal along with the recent trend of some major vegetables in terms of area, production and yield. The time series data from 1977/78 to 2016/17 (40 years) of vegetables production and 5 years data (2011/12 - 2015/16) of major vegetables were collected from reliable source and analysis was done through Microsoft Excel. The results show that between 1977/78 and 2016/17 the area under vegetables cultivation has jumped by 222.8% while production is increased by 728.21% and productivity is increased by 156.6% during this course. The result also reveals that during the period of 5 years (2011/12 - 2015/16), solanaceous and cruciferous vegetables has an increasing trend in area, production and yield except for the area under cultivation for eggplant (declined by 5.2%) and for radish (declined by 6.0%) respectively while cucurbitaceous vegetables has increasing trend in area and production but an declining trend in yield except for the yield of cucumber (increased by 15.8%). However, the trend of other major vegetables is seen highly fluctuating over the years.