Journal articles on the topic 'Balance of payments Australia'

For many years the mining industry made its investment decisions safe in the knowledge that petroleum or minerals in the ground belonged to the State but upon severance of such petroleum from the ground the oil was vested in the miner. Commensurate with the ownership changing, a royalty was payable to the government at a fixed rate. With the enactment of the Petroleum (Australia-Indonesia Zone of Co-Operation) Act of 1990 (the 'Act'), serious consideration must now be given as to whether in the future this basic scheme may be dramatically and radically changed to a scheme based on a services contract whereby a certain percentage of the oil is paid in consideration of the miner 'managing the discovery and extraction of petroleum'.An increasing number of countries, including those such as Malaysia which have legal systems based on common law, have adopted petroleum sharing agreements as a basic method by which they 'encourage' petroleum exploitation. This paper:explores the major features of petroleum sharing agreements (which are now in use in the Timor Gap, Indonesia and Malaysia), and compares and contrasts those models with a regulatory scheme based on statutory leases with royalty payments (being the regulatory scheme used in Australia, New Zealand, Canada and elsewhere);reviews both the economic and legal consequences of the two regimes, assuming a constant Income Tax System.It concludes that whilst there are certain merits in both the royalty regulatory type regime and a production sharing regime it appears to the writer that on balance the royalty regulatory regime is much more beneficial to the industry than the alternate. This is particularly true given the fact that Australian governments generally should have sufficient confidence in their regulatory skills and Australian technology that it does not feel it necessary to be given a veto power for each and every decision made in respect of petroleum exploration or production.The major deficiencies of a production sharing arrangement are the fact that the risk taker does not obtain legal tide to the product until after it has either passed the point of tanker loading or been sold to some third party, and the concept of 'cost oil'. If the rates of government 'take' is so high that it is more profitable to obtain 'cost oil' for the company than to receive its 'share' under the production sharing agreement, then the petroleum industry as a whole will suffer gross inefficiency in that area.

During the past 10 years, Australia has maintained 65– 85% self-sufficiency in oil and better than 100% sufficiency in gas. This has generated significant societal benefits in terms of employment, balance of payments, and revenue. The decline of the super-giant Gippsland fields, discovery of smaller oil pools on the North West Shelf, and the increasing reliance on condensate to sustain our liquids supply, however, sharpens the focus on Australia’s need to increase exploration and discover more oil. Australia is competing in the global market place for exploration funds, but as it is relatively underexplored there is a need to simulate interest through access to pre-competitive data and information. Public access to exploration and production data is a key plank in Australian promotion of petroleum exploration acreage. Access results from legislation that initially subsidised exploration in return for lodgement and public availability of exploration and production (E&P) data. Today publicly available E&P data ranges from digital seismic tapes, to core and cuttings samples from wells, and access to relational databases, including organic geochemistry, biostratigraphy, and reservoir and shows information. Seismic information is being progressively consolidated to high density media. Under the Commonwealth Government’s Spatial Information and Data Access Policy, announced in 2001, company data are publicly available at the cost of transfer, after a relatively brief confidentiality period. In addition, pre-competitive regional studies relating to petroleum prospectivity, undertaken by Government, and databases and spatial information are free over the Internet, further reducing the cost of exploration. In cooperation with the Australian States and the Northern Territory, we are working towards jointly presenting Australian opportunities through the Geoscience Portal (http:// www.geoscience.gov.au) and a virtual one-stop data repository. The challenge now is to translate data availability to increased exploration uptake, through client information, and through ever-improving on-line access.

World oil intensities have undergone a fundamental change since 1976, when gross domestic product growth outstripped oil consumption for the first time. World oil demand has fallen each year since 1979 irrespective of economic conditions.International supply management is the only way of containing oil price falls. In the longer term, non-OPEC production will peak by the end of this decade because there have been no major developments since the mid-1970's. Prices are likely to rise again as supply from non-OPEC countries falls, allowing OPEC to reassert market control.Australia has achieved 100 per cent self-sufficiency in crude oil, but a substantial increase in exploration activity is required if a major fall in self-sufficiency is to be averted after Bass Strait peaks in 1987. Browse Basin (Timor Sea) disappointments indicate that while there will be good production from Jabiru and perhaps Challis, these will not replace the declining Mackerel, Halibut, and Kingfish fields in Bass Strait.The Cooper/Eromanga Basin, while highly prospective, will never produce the quantities needed to replace Bass Strait. Jackson's reserves are estimated at about 45 million barrels. By comparison, Mackerel and Halibut together will produce 58 million barrels in 1985-86 alone.If oil is not found the balance of payments will suffer badly. Each percentage point drop in self sufficiency will cost Australia $85 million or nearly 0.5 per cent of exports. If domestic production falls to 470 000 barrels per day by 1990, imports of crude oil will cost $2 billion in 1985 dollars (assuming flat oil prices). Expressed in another way, 6 per cent of Australia's exports will be required to pay for the incremental drop in self-sufficiency by 1990.In 1984-85 the Government took in $4.26 billion from the crude oil levy, almost exclusively from Bass Strait. In 1985-86 the Government will receive $4.7 billion. This represents 8.7 per cent of Government taxation revenue, and 8 per cent of total Government receipts. By 1990, the levy from Bass Strait will fall by 45 per cent (assuming a constant oil price). By 1995 the revenue will be 90 per cent less than 1985-86, posing a major budgetary funding problem.

The article contains a thorough analysis of various approaches to calculating the balance of payments. The retrospective evolution of scientific views on the problem of evening up the balance of payments is traced. The monetarist approach to the balance of payments adjustment is emphasized. The author underlines the IMF significant role in developing the balance of payments calculation methodology.

Globalization has brought increased attention to the balance of payments situation from a variety of countries. The traditional method of measuring balance of payments may not be applicable in certain situations. This paper draws on the idea of economic resilience, uses the transmission mechanism of balance of payments imbalance, and establishes a system of balance of payments imbalance resilience to provide a complement to the traditional measure. In this article, we establish a system of balance of payments resilience and ensure its reasonableness and effectiveness. The main conclusions are as follows: (1) balance of payments resilience score can be used as a reference and early warning indicator of a country’s balance of payments situation and improves the measurement of balance of payments. (2) Improving the country’s unemployment rate and boosting adjusted net savings will significantly upgrade the balance of payments situation. Improving foreign capital adequacy and foreign exchange market conditions is more beneficial for improving the country’s rank of resilience score.

Formulation of the problem. Taking into account the tendencies of globalization of financial markets and economic relations as a whole, as well as the causes and consequences of the global financial crisis, the study of balance of payments balances become more and more relevant. The purpose of the research is to justify the theoretical basis of the formation of the balance of payments; studying the concepts and models of regulation of the balance of payments of the state; definition of structural elements and clarification of the macroeconomic value of the balance of payments; substantiation of directions of balancing the balance of international settlements; studying the impact of macroeconomic policy on the country's balance of payments; the formation of a strategy for reducing the deficit of the balance of payments. The object of research is the model of regulation of the balance of payments of the state. The methodological basis of the study was the methods and principles of the scientific knowledge of general and special methods and techniques used in the regulation and definition of the structural elements of the balance of payments. The hypothesis of the research is the assumption that for Germany's prosperity, analyzing the structure of GDP by industries over the past ten years, in the future it is necessary to focus on the development of those industries in which employment slightly decreased over the analyzed period. The statement of basic materials. The article deals with the origin of the concept of "balance of payments" in its modern sense. We studied countries that were forced to publish the balance of payments due to the emergence of inflationary processes. The trade balance of Germany in the conditions of crisis and post-crisis development of the world economy is investigated. The originality and practical significance of the research. It should be noted that in the scientific world there is a discussion on determining the main factors and the nature of their impact on the balance of payments of the country, as well as the causes of deficits in the balance of payments. Conclusions of the research . In this paper, approaches to a comprehensive assessment of the equilibrium of the balance of payments of the states are proposed on the basis of comparative analysis of the three groups of indicators. According to the results of the approbation of this approach, the balance of payment balances of the world's largest economies was assessed.

This study aims to analye the linkages of monetary policy instruments, budget deficit and balance of payments with VECM method. This study used secondary data from 2002 quarter I to 2017 quarter IV. The result found one-way interaction between open market operation with Indonesian balance of payments. Money supply has two-way causality relationship with budget deficits and minimum reserve requirement. The exogenous variable which are BI rate and open market operation affected Indonesian’s balance of payments with positive correlation, while the minimum reserve requierment significantly affect Indonesian’s balance of payments with negative correlation. Impulse response found shock of money supply respond to balance of payments positive in the fourth period.This result show that Indonesia’s balance of payments is a monetary phenomenon. So monetary policy instruments BI rate, minimum reserve requirement and open market operation can be used to maintain the stability of Indonesia’s balance of payment.

The paper monitors the balance of payments in the Republic of N. Macedonia, which determines the amount of the exchange rate through the supply and demand of foreign currency, as well as the impact of the exchange rate on the balance of payments movements. Real exchange rates are essentially equilibrium exchange rates. exchange rate that will keep the balance of payments in balance without taking measures for foreign exchange control, without pronounced inflation and deflationary tendencies and without constant expectation of monetary and foreign exchange reserves.There are several methods by which balance of payments can be established: by devaluation, by currency control and by deflation. When considering the relationship between the national currency exchange rate and the balance of payments of a national economy in terms of their interconnections, one should depart from their causal link of impacts. The exchange rate affects the balance of payments, as well as the balance of payments affects the exchange rate.The first part of the paper elaborates in detail the key activities of the balance of payments adjustment and the exchange rate adjustment, as well as their mutual impact.We use the adjustment mechanism to restore balance once the initial equilibrium has been disturbed. The payment adjustment process takes two different forms. One, under certain conditions, has adjustment factors that automatically contribute to balancing. Second, in the event that automatic adjustment fails to strike a balance, the government adopts a discretionary policy to achieve this goal.

The paper monitors the balance of payments in the Republic of North Macedonia, which determines the amount of the exchange rate through the supply and demand of foreign currency, as well as the impact of the exchange rate on the balance of payments movements. Real exchange rates are essentially equilibrium exchange rates. exchange rate that will keep the balance of payments in balance without taking measures for foreign exchange control, without pronounced inflation and deflationary tendencies and without constant expectation of monetary and foreign exchange reserves.There are several methods by which balance of payments can be established: by devaluation, by currency control and by deflation. When considering the relationship between the national currency exchange rate and the balance of payments of a national economy in terms of their interconnections, one should depart from their causal link of impacts. The exchange rate affects the balance of payments, as well as the balance of payments affects the exchange rate.The first part of the paper elaborates in detail the key activities of the balance of payments adjustment and the exchange rate adjustment, as well as their mutual impact.We use the adjustment mechanism to restore balance once the initial equilibrium has been disturbed. The payment adjustment process takes two different forms. One, under certain conditions, has adjustment factors that automatically contribute to balancing. Second, in the event that automatic adjustment fails to strike a balance, the government adopts a discretionary policy to achieve this goal

Introduction: Lenalidomide is increasingly used for the treatment of newly diagnosed multiple myeloma. However, most patients experience relapse during treatment or after prolonged exposure to lenalidomide, therefore, there is an emerging unmet need for new, highly efficacious lenalidomide-sparing regimens at relapse. CANDOR is an ongoing phase 3 randomized clinical trial (RCT) that compares the lenalidomide-free KdD regimen with carfilzomib 56mg/m2 twice-weekly with dexamethasone (Kd) in patients with relapsed and/or refractory multiple myeloma (RRMM). Based on the primary analysis, KdD was associated with a 37% reduction in the risk of progression or death compared to Kd (HR: 0.63, p=0.001).(Dimopoulos et al. 2020 Lancet) Besides the trial-based comparator Kd, DVd is considered as an additional relevant comparator. DVd is the most similar lenalidomide-free triplet regimen comprising a proteasome inhibitor, daratumumab, and dexamethasone. DVd was assessed in the phase 3 CASTOR RCT and demonstrated superior PFS versus 8 cycles (24 weeks) of bortezomib in combination with dexamethasone (Vd) (HR: 0.31, p<0.001).(Weisel et al. 2019 ASH) In the absence of a direct head-to-head trial comparing these treatments and an assessment suggesting that network meta-analysis is not feasible, matching-adjusted indirect comparisons (MAIC) were used (Signorovitch et al. 2010) to assess the efficacy of KdD relative to DVd. MAIC leverages all available data and compares outcomes across balanced populations. Method: Baseline characteristics and PFS data from the CANDOR and CASTOR trials were used in the analyses. Outcomes were compared in three steps. First, after aligning patient selection criteria of both trials, KdD patients in CANDOR were matched to the average characteristics of DVd patients in CASTOR using matching-adjusted indirect treatment comparisons methodology. The matching variables reflected tumor stage, disease burden, and treatment history, and were generally consistent with validated prognostic markers used in stratifying patients into different risk groups. Second, the published Kaplan-Meier PFS curves for DVd were digitized to generate virtual patient-level data that reconstructed the curves. Third, Cox regression models were fitted to the matched CANDOR data and the reconstructed virtual patient-level CASTOR data to estimate the efficacy of KdD versus DVd. The outcome measure was the hazard ratio (HR) for PFS. Outcomes were also compared for the first 24 weeks and for the period beyond 24 weeks to assess the impact of stopping Vd in DVd after 24 weeks on the HRs. Scenario and subgroup analyses were conducted to assess the robustness of results. Results: KdD patients in the CANDOR trial who were proteasome inhibitor-refractory (n=102) were removed from the data so that the KdD population was aligned with that of DVd in the CASTOR trial. Following the matching procedure, the effective sample size for KdD reduced to 82. In matched populations, PFS at 12 months was 73.1% for KdD and 59.9% for DVd. The MAIC results showed that treatment with KdD decreases the risk of progression or death versus DVd, with an overall HR of 0.61 (95% CI: 0.45-0.82). The time-dependent analysis demonstrated similar PFS for the two treatments for the first 24 weeks and a larger benefit for KdD over DVd after 24 weeks. Similar results were obtained in scenario analyses; in bortezomib-exposed patients the overall HR was 0.46 (95% CI: 0.33-0.64). Conclusions: After adjusting for cross-trial differences, KdD was associated with a significant reduction in the risk of progression or death compared with DVd. Although based on an approach in agreement with methods guide, the results are associated with inherent limitations due to the decreased sample size for KdD, and due to known (longer follow-up for DVd, different duration of proteasome inhibition) or unobserved differences in the trials (potential unobserved heterogeneity in patient characteristics). A comparison of overall survival was not considered due to immature data in CANDOR. The results are in line with those of the head-to-head ENDEAVOR trial that directly compared carfilzomib with bortezomib (HR for PFS for Kd vs Vd 0.53; 95% CI: 0.44-0.65) supporting the clinical validity of this study. The present analysis suggests that KdD improves outcomes compared with DVd in patients with RRMM and may provide a rationale for a preferential treatment. Disclosures Weisel: Roche: Consultancy, Honoraria; Abbvie: Consultancy, Honoraria; Sanofi: Consultancy, Honoraria, Research Funding; Janssen: Consultancy, Honoraria, Research Funding; Celgene: Consultancy, Honoraria, Research Funding; Amgen: Consultancy, Honoraria, Research Funding; Karyopharm: Consultancy, Honoraria; GlaxoSmithKline: Honoraria; Adaptive: Consultancy, Honoraria; Bristol-Myers Squibb: Consultancy, Honoraria; Takeda: Consultancy, Honoraria. Nooka:Sanofi: Consultancy, Honoraria; Spectrum Pharmaceuticals: Consultancy; Oncopeptides: Consultancy, Honoraria; Karyopharm Therapeutics, Adaptive technologies: Consultancy, Honoraria, Research Funding; GlaxoSmithKline: Consultancy, Honoraria, Other: Personal Fees: Travel/accomodations/expenses, Research Funding; Takeda: Consultancy, Honoraria, Research Funding; Celgene: Consultancy, Honoraria, Research Funding; Adaptive Technologies: Consultancy, Honoraria; Janssen: Consultancy, Honoraria, Research Funding; Amgen: Consultancy, Honoraria, Research Funding; Bristol-Myers Squibb: Consultancy, Honoraria, Research Funding. Terpos:Janssen: Honoraria, Research Funding; Genesis pharma SA: Honoraria, Other: travel expenses , Research Funding; Amgen: Honoraria, Research Funding; Takeda: Honoraria, Other: travel expenses , Research Funding; Celgene: Honoraria; Sanofi: Honoraria; BMS: Honoraria. Spencer:AbbVie, Amgen, Celgene, Haemalogix, Janssen, Sanofi, SecuraBio, Specialised Therapeutics Australia, Servier and Takeda: Honoraria; AbbVie, Celgene, Haemalogix, Janssen, Sanofi, SecuraBio, Specialised Therapeutics Australia, Servier and Takeda: Consultancy; Amgen, Celgene, Haemalogix, Janssen, Servier and Takeda: Research Funding; Celgene, Janssen and Takeda: Speakers Bureau. Goldschmidt:Merck Sharp and Dohme (MSD): Research Funding; Takeda: Membership on an entity's Board of Directors or advisory committees, Research Funding; Janssen: Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: Grants and/or provision of Investigational Medicinal Product:, Research Funding; Johns Hopkins University: Other: Grants and/or provision of Investigational Medicinal Product; Sanofi: Honoraria, Membership on an entity's Board of Directors or advisory committees, Other, Research Funding; Dietmar-Hopp-Foundation: Other: Grants and/or provision of Investigational Medicinal Product:; Molecular Partners: Research Funding; Novartis: Honoraria, Research Funding; Amgen: Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: Grants and/or provision of Investigational Medicinal Product, Research Funding; Adaptive Biotechnology: Membership on an entity's Board of Directors or advisory committees; Chugai: Honoraria, Other: Grants and/or provision of Investigational Medicinal Product:, Research Funding; Celgene: Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: Grants and/or provision of Investigational Medicinal Product:, Research Funding; BMS: Honoraria, Membership on an entity's Board of Directors or advisory committees, Other: Grants and/or provision of Investigational Medicinal Product:, Research Funding; University Hospital Heidelberg, Internal Medicine V and National Center for Tumor Diseases (NCT), Heidelberg, Germany: Current Employment; GlaxoSmithKline (GSK): Honoraria; Incyte: Research Funding; Mundipharma GmbH: Research Funding. Majer:Amgen (Europe) GmbH: Current Employment, Current equity holder in publicly-traded company. DeCosta:Amgen Ltd: Current Employment, Current equity holder in publicly-traded company. Medhekar:Amgen Inc.: Current Employment, Current equity holder in publicly-traded company. Yusuf:Amgen Inc.: Current Employment, Current equity holder in publicly-traded company. Kumar:Karyopharm: Consultancy; Takeda: Other: Research funding for clinical trials to the institution, Consulting/Advisory Board participation with no personal payments; Novartis: Research Funding; Sanofi: Research Funding; Carsgen: Other, Research Funding; AbbVie: Other: Research funding for clinical trials to the institution, Consulting/Advisory Board participation with no personal payments; Dr. Reddy's Laboratories: Honoraria; Genentech/Roche: Other: Research funding for clinical trials to the institution, Consulting/Advisory Board participation with no personal payments; BMS: Consultancy, Research Funding; Kite Pharma: Consultancy, Research Funding; Adaptive Biotechnologies: Consultancy; Janssen Oncology: Other: Research funding for clinical trials to the institution, Consulting/Advisory Board participation with no personal payments; Merck: Consultancy, Research Funding; Oncopeptides: Consultancy, Other: Independent Review Committee; IRC member; Cellectar: Other; Celgene/BMS: Other: Research funding for clinical trials to the institution, Consulting/Advisory Board participation with no personal payments; Genecentrix: Consultancy; MedImmune: Research Funding; Amgen: Consultancy, Other: Research funding for clinical trials to the institution, Consulting/Advisory Board participation with no personal payments, Research Funding; Tenebio: Other, Research Funding.

The purpose of this study is to determine the effect of inflation, foreign exchange rates, interest rates and trade balance on economic growth through an increase in the balance of payments. The research method used in this study is a quantitative descriptive research method using path analysis using AMOS 18. Variables of inflation, interest rates and the balance of trade affect economic growth through an increase in the balance of payments, where these three macroeconomic variables are capable of boosting economic growth, while the moderator variable for an increase in the balance of payments is the link and driver for the three variables such as inflation, interest rates and the trade balance did not contract against the increase in economic growth. The conclusion of this study is that partially inflation, interest rates and the trade balance have a significant effect on the economic growth variable and the moderator variable for increasing the balance of payments, while simultaneously the inflation variables, foreign exchange rates, interest rates and the trade balance has a significant effect on the variable of economic growth through the variable of increasing the balance of payments. Through the results of research that has been stated that the inflation variable, interest rates and trade balance affect economic growth through an increase in the balance of payments, where these three macroeconomic variables are things that are able to boost economic growth, while the moderator variable for an increase in the balance of payments is a link and a driving force for the three variables such as inflation, interest rates and the trade balance did not contract to the increase in economic growth.