Social impact bonds are an innovative mechanism for financing social tasks with the financial resources of private investors. The repayment of the capital invested and capital gains depends on obtaining apredetermined social aim that is paid for by the public side under the “payment for results” formula. The previous work on this mechanism focused mainly on its task and organizational dimension. In this paper, the author attempts to define the social impact bond as afinancial instrument. In particular, the financial side of the mechanism is considered. First, an attempt is made to determine the place of the social impact bond in the theoretical classifications of financial instruments. Second, the place of the instrument is indicated in the system of financial law. Finally, some remarks are made on the need to have the new instrument regulated in Polish legislation.
The Central and Eastern European (CEE) capital markets (of Poland, Lithuania, Latvia, Estonia, the Czech Republic, Slovakia, Hungary, Ukraine and, to a limited extent, Belarus) are gradually evolving towards increased breadth (diversity) and depth (liquidity), however, they are still exposed to considerable cross-country volatility and interdependence spill-overs - especially in times of capital flight to more established asset classes (“safe havens”). Sovereign Wealth Funds (SWFs) have widely been censured for their undesirable political interference and chronic operational opacity. This paper demonstrates that in CEE, contrary to widespread perceptions attributable to developed markets, SWFs can act as natural and powerful risk mitigators (contributing to a more stable capital base and reduced systemic volatility). Such a proposition is premised on several factors specific to SWFs oriented to CEE. They comprise: strategic long-termism and patience in overcoming interim pricing deficiencies, commitments to elements of a broadly interpreted infrastructure, and absence of overt conflicts of interest with the CEE host economies. The paper, besides reviewing the utilitarianism of SWFs in the CEE’s risk mitigation context, highlights regulatory and technical barriers to more SWF funding for CEE. It also recommends policy measures to the CEE economies aimed at luring more host-friendly SWF investment into the region.
Introduction:Fasciola hepatica (liver fluke) is a parasite of great socioeconomic importance. A number of fluke isolates have been identified; however, to date the differences between the immunomodulatory properties of different parasite isolates have not been sufficiently investigated. The aim of this study was to explore differences between the immunomodulatory properties of two F. hepatica isolates using unmaturated bovine macrophages.
Material and Methods: A cell line of bovine macrophages was stimulated with excretory/secretory products released by adult flukes from either a laboratory (Fh-WeyES) or wild (Fh-WildES) strain and subsequently subjected to microarray and ELISA analyses.
Results: Both Fh-WeyES and Fh-WildES dampened the release of interleukin-10 by bovine macrophages, but only Fh-WildES dampened the release of proinflammatory tumour necrosis factor-α. Microarray analysis revealed that Fh-WildES down- and upregulated 90 and 18 genes, respectively, when compared to Fh-WeyES.
Conclusion: The results indicated different impacts of the isolates on macrophages. A number of researchers use flukes obtained from local slaughterhouses for experiments. Our findings may explain some discrepancies between published results arising from parasite strain choice. The findings indicate that consideration should be given to the use of different strains, and open new and currently unexplored avenues in parasitology for controlling the parasite.
The aim of the study was cloning and analysis of the entire coding sequence of hamster IL-2 by the method of RACE-PCR, its expression in Escherichia coli cells, and production of IL-2 specific antibodies. These antibodies were used to determine in vitro IL-2 production by cells derived from the spleen and mesenteric lymph nodes of Ancylostoma ceylanicum infected hamsters. The highest concentration of IL-2 was noted in supernatants from cell cultures coming from the oldest, most resistant hamsters.
Few studies have been published in Poland concerning body dimensions of firefighters from the State Fire Service although this knowledge is needed for e.g. development of personal protective equipment. The aim of the study was to evaluate body dimensions and weight-to-height ratio in firefighters from the State Fire Service. Using the anthropological procedures, body mass (BM) and body height (BH) were examined in 178 men at the chronological age (CA) of 19.5 to 53 years who were rescuers from the national rescue and fire brigades of the State Fire Service. The study participants were divided into three categories of CA: up to 25 years, between 24 and 44 years, and over 44 years. The results were compared to population standards. It was found that BH of the youngest rescuers was significantly higher (0.05) than in other study participants. Based on the standardized values of BM and BMI, population of firefighters aged over 25 years was found to be characterized by overweight and, in certain cases, even by obesity. The excess level of body mass index (BMI ≥ 25 kgm2) was found in nearly 60% of study participants, with half of the group classified as overweight (n=31, BMI ranging from 25 to 29.9 kg/m2), and 10% classified as obese. Due to the worrying high percentage of cases of excess body mass in firefighters from the State Fire Service, it was found that it is recommended to evaluate the relationships between body height and mass on regular basis during periodical obligatory tests of physical fitness of rescuers from the State Fire Service and to increase the frequency and duration of training sessions.
Accomplishment of basic services implementation with specific quality is one of the main challenges of the command and communication systems for modern maritime safety and defense. The specificity of the marine environment imposes the use of narrowband HF (High Frequency) and VHF (Very High Frequency) radio communication devices which are capable to implement IP transmission. This paper presents the requirements for the HF and VHF radio systems according to the IP protocol requirements. At the beginning basic properties of narrowband HF and VHF waveforms in context of their operational scenarios has been described. Then results of experimental research (implementation of narrowband services — voice and data) has been presented. Finally further research directions with contribution of the authors, in NATO working groups related to the development of NBWF (Narrowband Waveform) for coalition communication has been presented.
The paper presents development of an experimental stand with centrally located specimen for the investigation of heating and drying processes in porous building materials. Additionally, the paper contains preliminary results of measurements which test and verify the assumed operation conditions of the stand. In order to control parameters of air which was used to heat and dry the specimen, the stand was operating in a closed loop and was equipped with several elements, i.e., the cooler (humidity condenser), fan with variable rotation speed, humidifier and heater. Moreover, the stand consisted of two square and parallel ducts with air streams which had identical parameters. This allowed for two measurements at the same time.