درخت حوزه‌های تخصصی

The pursuit of sustainable development requires balancing the objectives of FDI, Trade, economic growth and environmental protection. Achieving a balance between these often-conflicting priorities is difficult enough at the national level, where competing interests are at least grounded in a common environmental, social and economic context. At the international level, where different countries have vastly different circumstances and priorities, it is significantly harder. One of the many ways in which this challenge manifests itself in the real world is in the conflict between the desire to promote trade by reducing non-tariff barriers and the desire to protect the environment and health through the use of technical regulations and standards.   As competition becomes more global, people are concerned that relatively lenient environmental regulation and lax enforcement in developing countries give them a comparative advantage in pollution intensive goods. Lowering trade barrier may encourage a relocation of polluting industries from countries with strict environmental policy to those with lenient policy. These shifts may increase global pollution, as countries become reluctant to tighten environmental regulations due of their concerns over comparative advantage in international trade. Therefore, trade and FDI may encourage a relocation of polluting industries from countries with strict environmental policy to those with less stringent policy. We call this a pollution haven effect. The pattern of trade depends on which of these effects is stronger. The aim of this paper is to test the validation of the hypothesis of the pollution haven effect on water created by the different industries in the selected countries of Europe and Asia.   Overall, our results show that trade liberalization decreases the BOD emission crated by chemical, food, metal, paper and pulp, textile, wood and other industries but it increases this emission crated by clay and glass industry in the selected EU-Asian countries. JEL Classification : Q51, Q56.

Selecting approaches with appropriate accuracy and suitable speed for the purpose of making decision is one of the managers’ challenges. Also investing decision is one of the main decisions of managers and it can be referred to securities transaction in financial markets which is one of the investments approaches. When some assets and barriers of real world have been considered, optimization of stock basket can’t be solved easily, therefore, Meta-Heuristic approach is considered. In this regard, the main goal of this paper is to solve stock portfolio constrained optimization problem by using of Firefly Algorithm (FA) and Imperialist Competitive Algorithm (ICA). In order to do so, daily information of 25 accepted stocks in period of 2010-2016, in Tehran stock market have been used. Results show that Firefly Algorithm (FA) and Imperialist Competitive Algorithm (ICA) showed successful function in constrained optimization of stock portfolio and has acceptable accuracy in finding optimal answers in whole risk and returns levels. Also, the results of comparison of Cardinality Constrained Mean – Variance (CCMV) and Cardinality Constrained Mean – Semi -Variance (CCMSV) portfolios two using of Firefly Algorithm (FA) and Imperialist Competitive Algorithm (ICA) and considering to the findings of two criteria for assessing accuracy in stock basket optimization simultaneously show that Imperialist Competitive Algorithm (ICA) has high speed and accuracy for solving stock basket optimization and could have desirable interaction with real barriers of market. Moreover, there is high accuracy optimization of Cardinality Constrained Mean – Semi -Variance (CCMSV) compared to Cardinality Constrained Mean – Variance (CCMV).