Infrastructure as a new asset class is said to have several distinct and attractive investment characteristics. This article reviews concepts, market developments and empirical evidence on the rist-return and cash flows profile, and the potential for diversification and inflation protection in investor portfolios. Furthermore, a new, global analysis of the historical performance of infrastructure funds is undertaken. There is no proper financial theory to back the proposition of infrastructure as a separate asset class. Infrastructure assets are very heterogeneous, and empirical evidence suggests an alternative proposition that treats infrastructure simply as a sub-asset class, or particular sectors, within the conventional financing vehicule on which it comes (e.g. listed and private equity, bonds).

Infrastructure as an asset class

The objective of a circular economy (CE) is to maintain the value of products, materials, and resources in the economy by closing material loops and minimizing waste generation. In recent years, the role of public procurement has been recognized as an important, but as yet not fully exploited, opportunity by cities and municipalities in their transition toward circular societies. This study analyzed public procurement opportunities to promote CE. Different approaches and examples of circular public procurement were identified using case studies. In addition, opportunities to promote CE through sustainable and green public procurement policy were identified analyzing predefined sustainable or green public procurement criteria. The study concludes that public procurement can promote CE and related business models by setting criteria and requirements for the extension of product life spans, efficiency and/or intensity of use, and efficient cycling of biological or technical materials, as well as for the securing of clean and nonrisky cycles. Circular procurement can occur through the procurement of better‐quality products in circular terms, the procurement of new circular products, the use of business concepts that support the CE, and investments in circular ecosystems. Several sectors and product groups were identified as having potential for circular procurement, such as construction, waste, and wastewater management, transportation, food, and catering, furniture, and textiles. The study also suggests that the use of certain tools, such as performance‐based procurement, life cycle approach, and life cycle costing, as well as criteria concerning reuse and recycling of materials, could promote circular procurement. Market dialogue and cooperation between procurers and actors in the supply chains are important for the future development of circular procurement.

Exploiting the Potential of Public Procurement: Opportunities for Circular Economy

Introduction. The Insider: Jeffrey Wigand and the Tobacco Industry. Deciding to Become a Whistleblower: NASA and Roger Boisjoly Cindy Ossias and the California DOI. The Whistleblower as Policy Entrepreneur: Hal Freeman and the OCR Hugh Kaufman and the EPA. An Impact on the Agency: Barbara Moulton and the FDA. Protecting the Whistleblower: The INS and Neil Jacobs. Whistleblowing: A Force for Democratization?

Whistle-blowing:When It Works--And Why (Book)

Regional economic development: Analysis and planning strategy

Do shopping centers abate the resilience of shopping streets? The co-existence of both shopping venues in Ankara, Turkey

The paper discusses a new tool to be used in public procurement by contracting authorities, namely Life Cycle Costing, in light of the efforts made at the EU level to promote green and sustainable public procurement. The authors analyse the provisions concerning Life Cycle Costing comprised in the proposal of the European Commission for the new Public Procurement Directives. Several obstacles regarding the implementation of Life Cycle Costing are discussed alongside with a brief analysis of best practices in this field from other countries outside the EU. The article concludes that Life Cycle Costing has the potential to be used or integrated as an award criterion, which will better advance the quest for sustainable development (defined both in terms of environmental as well as social objectives).

Sustainable Public Procurement: Life Cycle Costing (LCC) in the New EU Directive Proposal

Chapter 1: Administrative Appeals in Germany by Ulrich Stelkens- Chapter 2: Alternative Dispute Resolution in French Administrative Proceedings by Rhita Bousta and Sagar Arun- Chapter 3: Administrative Appeals in the Italian Law: On the Brink of Extinction or Might They Be Saved (And Are They Worth Saving)? by Mario Comba and Roberto Caranta- Chapter 4: The Dutch System of Dispute Resolution in Administrative Law by Philip Langbroek, Milan Remac and Paulien Willemsen- Chapter 5: Administrative Appeals and ADR in Danish Administrative Law by Inger Marie Conradsen, Michael Gotze- Chapter 6: The Complexity of Administrative Appeals in Belgium: Not Seeing the Woods for the Trees by Ludo M Veny- Chapter 7: Administrative Justice in Austria in the Stage of Transition: From Administrative Appeals to Administrative Courts or the Final Stage of "Tribunalization" of Administrative Disputes by Friederike Bundschuh-Rieseneder and Alexander Balthasar- Chapter 8: ADR Tools in Spanish Administrative Law by Susana Galera, Pablo Acosta and Helena Soleto- Chapter 9: ADR in the Administrative Law - A Perspective from the United Kingdom by David Marrani and Youseph Farah- Chapter 10: Administrative Appeals and Other Forms of ADR in Hungary by Anita Boros and Andras Patyi- Chapter 11: Administrative Remedies in Polish Administrative Law by Andrzej Skoczylas and Mariusz Swora- Chapter 12: Effective Conflict Resolution in Administrative Proceedings in Slovenia - A Theoretical and Empirical Analysis by Polonca Kovac- Chapter 13: Administrative Appeals, Ombudsman and Other ADR Tools in the Czech Administrative Law by Sona Skulova, Lukas Potesil, David Hejc- Chapter 14: The Dynamic of Administrative Appeals and Other ADR Tools in Romania by Dacian C Dragos, Bogdana Neamtu and Raluca Suciu- Chapter 15: Serbia as a Part of the European Administrative Space - ADR Tools Applied to Administrative Law by Vuk Cucic- Chapter 16: Alternative Dispute Resolution Mechanisms in the European Union Law by Siegfried Magiera and Wolfgang Weiss- Chapter 17: Administrative Appeals in Comparative European Administrative Law: What Effectiveness? by Dacian C Dragos and David Marrani- Chapter 18: The Ombudsman - An Alternative to the Judiciary? by Milan Remac- Chapter 19: Mediation in Administrative Proceedings: A Comparative Perspective by KJ de Graaf, AT Marseille and HD Tolsma

Alternative Dispute Resolution in European Administrative Law

This article investigates if public investments in rural basic infrastructure represent the best strategy for boosting the local economy of rural communities from Romania. The article focuses on one specific program implemented under the Cohesion policy in the framework of the National Plan for Rural Development, called Measure 322. Geographically, the research included a sample of rural communities from the North-Western Region of Romania. Moreover, the study also looks at other determinants of local economic development (LED), rather than infrastructure investments, with a focus on certain features characterizing Romanian rural communities such as population size, isolation from urban centers, connection with European and national roads networks, educational stock, etc. The research included three steps, namely the construction of the LED Index, a cvasi-experimental research, and a regression model. Our main findings seem to suggest that, while investments in infrastructure do help, the development gap between beneficiaries and non-beneficiaries remains relatively the same. In terms of determinants of LED level, percentage of population with a university degree and connection to a European road are the most significant in the Romanian rural context.

Are Investments in Basic Infrastructure the Magic Wand to Boost the Local Economy of Rural Communities from Romania

The article discusses the concept of procedural administrative transparency and aims to investigate the extent to which the legal provisions of Law no. 52/2003 on transparency in decision-making are actually implemented by the local administrations from the rural communities in the Transylvania region, Romania. The main research questions are: Where are the weaknesses in the implementation of Law no. 52/2003 in the rural settings in Romania? Why do they occur? What could be changed to alleviate these weaknesses? Based on a mixed method approach – surveys followed by direct observation and informal interviews – we determined that the implementation of procedural transparency requirements is low and in many cases local public authorities comply only 'for the record' with the provisions of the law. The main challenge with regard to implementation is the existence of universal provisions for all local public authorities, irrespective of their administrative capacity, existing cultural and social characteristics of public participation and communication in rural communities as well as the relationship between central and local tiers of the government. In conclusion, the authors argue that the implementation level of these requirements could be enhanced by their inclusion in a general procedural administrative law.

Procedural Transparency in Rural Romania: Linking Implementation with Administrative Capacity?

This chapter dwells on sustainable public procurement as promoted by the new 2014 Directives on public procurement, having as background the experience of implementing the 2004 Directives in several Member States. Traditionally, public procurement had only to be economically efficient, with little regard for other objectives than the purely economic ones. In recent times, however, due to a more general ascension of the sustainable development concept, governments have been put in the position to “lead by example” and use their purchasing power in order to advance the goals of sustainable development; as a specific development, sustainable public procurement has been slowly creeping in. From “secondary considerations” in the 2004 Directives, the need to include social and environmental considerations in public tendering procedures has led to the coining of new terms, much more powerful and all-encompassing, such as “horizontal policies”, “sustainable procurement” or even “strategic procurement”. We can state that with the new 2014 Directives, the sustainability paradigm is almost taking over the realm of public procurement, and it is marketed as a major “selling point” of the new legislation.Sustainability has been for the last three decades a “buzz” word in the environmental literature (but also beyond), conveying a multitude of meanings that are often divergent to a variety of individuals, professions, interest groups, governmental agencies, political leaders, NGOs and grassroots organizations, The concept of ‘sustainability’ in its modern sense emerged in the early 1970s in response to a dramatic growth in understanding that modern development practices in all fields were leading to worldwide environmental and social crises, The term is nonetheless very broad and abstract thus creating confusion and cynicism as well as positive environmental change. While sustainability is more directly related to biology and ecology, the concept of sustainable development or sustainable economic development brings elements of economic activity more explicitly into the equation. It is a catchword for alternative development approaches that could be envisioned as continuing far into the future. Perhaps the most well-known definition is the one from the Brundtland report, which defines sustainable development as development which meets the needs of the present without compromising the ability of future generations to meet their own needs. It usually comprises three dimensions – economic, social/equity, and environmental.In public procurement, it means that the government is embarking on socially and environmentally responsible practices through the use of public contracts. It has to be noted that sustainable public procurement encompasses not only social and environmental matters but also, in a wide interpretation, the participation of SMEs in public tendering processes. However, in this Chapter we will cover only the social and environmental aspects, SMEs being dwelt upon in other chapters.The chapter begins with an incursion into the development of sustainable considerations in EU legislation, in soft law and the jurisprudence of the Court of Justice. Then it will analyze the experience of several Member States in implementing the provisions of the 2004 Directives, in order to have a perspective on the background against which the new provisions of 2014 will be implemented. In the end, we will discuss sustainable procurement as envisaged in these new 2014 Directives.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2488047_code1343430.pdf?abstractid=2488047&mirid=1&type=2

Bogdana Neamtu

Papers

Sustainable Public Procurement: Life Cycle Costing (LCC) in the New EU Directive Proposal

Alternative Dispute Resolution in European Administrative Law

Are Investments in Basic Infrastructure the Magic Wand to Boost the Local Economy of Rural Communities from Romania

Procedural Transparency in Rural Romania: Linking Implementation with Administrative Capacity?

Sustainable Public Procurement in the EU: Experiences and Prospects