Miracle-dz/UniFAR-FTUs huggingface dataset:
The Pricing of Country Funds from Emerging Markets: Theory and Evidence

This paper provides a theoretical and empirical analysis of country funds focusing on emerging economies whose capital markets are not readily accessible to outside investors. We study country fund pricing and the associated policy implications under alternative variations of international market structure segmentation. We show that country funds traded in the developed capital markets can be beneficial in promoting the efficiency of pricing in the emerging capital markets and in enhancing capital mobilization by local firms. These efficiency gains vary depending upon the degree to which the emerging market securities are spanned by the core or advanced market securities, and cross-border arbitrage restrictions. A country fund premium or discount arises in our framework owing to access and substitution effects characterizing the relationship between the host and emerging markets. We present some empirical evidence supporting our principal predictions. In particular, we investigate the issues of country fund pricing, relative influences of the home market, the international market, the global closed-end fund factor, and the behavior of fund premia/discounts.
Theorizing the Emergence of New Organizational Forms for Community Based Enterprise

Since the late 20th Century new organizational forms for community based enterprise have been established by legislatures in North America and at least ten countries in Europe. These new legal forms have received little focused attention in the organizational and management literature yet explanations for their emergence and orientation have important implications for theorizing when and why new organizational forms emerge. We develop a framework to theorize a relationship between political, economic and social turbulence and the creation of community based enterprise, and explain why innovation in the institution of property rights plays a central role in reorienting forms of enterprise towards community benefit. We conclude by mapping an agenda for researching the organizational processes and performance of community based enterprise.
Changes in Between-Group Inequality: Computers, Occupations, and International Trade

We provide a unifying framework to quantify the impact of several determinants of changes in US between-group inequality. We use an assignment framework with many labor groups, equipment types, and occupations in which changes in inequality are driven by changes in workforce composition, occupation demand, computerization, and labor productivity. We parameterize the model using direct measures of computer usage within labor group-occupation pairs and quantify the impact of each shock for various dimensions of between-group inequality between 1984 and 2003. We find, for example, that computerization and shifts in occupation demand jointly account for roughly 80 percent of the rise in the skill premium, with computerization alone accounting for roughly 60 percent. In an open-economy extension of the model, we show how computerization and changes in occupation demand can be caused by changes in the extent of international trade and perform counterfactual exercises to quantify these effects. (JEL D63, J16, J22, J23, J24, J31)
Aggregate Earnings and Expected Stock Returns in Emerging Markets

This paper examines the time-series predictability of aggregate stock returns in twenty emerging markets. In contrast to the aggregate-level findings in the United States, earnings yield forecasts the time series of aggregate stock returns in emerging markets. We consider aggregate earnings not as normalizing variables for stock price but as predictive variables in their own right. Aggregate earnings covary with the market returns; hence, it is not just the mean reversion of stock prices that is responsible for the forecasting power of earnings yield. These results are robust across different estimation methods and after controlling for small-sample bias and macroeconomic variables.
Phase diagram of two-dimensional systems of dipole-like colloids

Based on Discontinuous Molecular Dynamics (DMD) simulations we present a phase diagram of two-dimensional nano-particles with dipole-like short-ranged interactions. Similar to systems with true, long-ranged dipolar interactions the present system undergoes a transition from an isotropic fluid phase into a polymer-like fluid, characterized by an association of most particles into clusters. Further decrease of the temperature leads to a percolated system which, moreover, displays dynamical properties reminiscent of a gel. Specifically, we find a plateau in the mean-squared displacement and a non-gaussian behavior of the self-part of the van Hove correlation function. In the high density region we observe crystallization from the isotropic fluid into a solid phase with hexagonal order. Surprisingly, the crystallization is accompanied by a global parallel ordering of the dipole moments, i.e., a ferroelectric phase. This behavior is in marked contrast to what is found in 2D systems with long-ranged dipolar interactions. Our results allow insights into the design of gel-like or highly ordered structures at interfaces, shells around droplets and bubbles and new-sheet like materials.
An Analysis of the Implications of Strengthened Intellectual Property Rights to Agriculture of Developing Countries and Responses of Selected Public Research Institutions in Southeast Asia

by Jane G. Payumo, Ph.D. Washington State University May 2011 Chair: Howard D. Grimes Better understanding of intellectual property rights (IPR) is indispensable to informed policy making in all areas of development, including agriculture – the backbone of economy of majority of developing countries. For this reason, IPR and its impact to the future of agriculture in developing countries should gain priority in public discussions. As a contribution to the IPR debate, this dissertation analyzed the implications of the expansion of IPR to agricultural development, and determined how public agricultural research in developing countries has responded to the concept of IPR and its developments. Specifically, this dissertation reviewed the interaction of IPR, the WTO-TRIPS Agreement, and agriculture, and demonstrated through empirical analysis that the expansion of IPR in agriculture can positively impact agricultural development not only of developed countries, as critics would claim, but also of developing countries. Second, initially focusing on five developing countries in Asia, this research demonstrated that public R&D institutions in this region have good knowledge on the concept of
Conjunctions between Motion and Disparity Are Encoded with the Same Spatial Resolution As Disparity Alone

Neurons in cortical area MT respond well to transparent streaming motion in distinct depth planes, such as caused by observer self-motion, but do not contain subregions excited by opposite directions of motion. We therefore predicted that spatial resolution for transparent motion/disparity conjunctions would be limited by the size of MT receptive fields, just as spatial resolution for disparity is limited by the much smaller receptive fields found in primary visual cortex, V1. We measured this using a novel “joint motion/disparity grating,” on which human observers detected motion/disparity conjunctions in transparent random-dot patterns containing dots streaming in opposite directions on two depth planes. Surprisingly, observers showed the same spatial resolution for these as for pure disparity gratings. We estimate the limiting receptive field diameter at 11 arcmin, similar to V1 and much smaller than MT. Higher internal noise for detecting joint motion/disparity produces a slightly lower high-frequency cutoff of 2.5 cycles per degree (cpd) versus 3.3 cpd for disparity. This suggests that information on motion/disparity conjunctions is available in the population activity of V1 and that this information can be decoded for perception even when it is invisible to neurons in MT.
Pulsed laser deposition of CZTS thin films, their thermal annealing and integration into n-Si/CZTS photovoltaic devices

The pulsed laser deposition (PLD) technique is used for the room-temperature (RT) deposition of Cu2ZnSnS4 (CZTS) films. The PLD-CZTS films were subjected to post-annealing at different temperature ranging from 300–500°C in argon atmosphere. The X-ray diffraction and Raman analyses confirmed that the films crystallize in the kesterite structure regardless of their annealing temperature (Ta), but their crystallite size is found to increase with Ta and reaches its maximum value of 37 nm for Ta=400°C. The corresponding optical bandgap value of the PLD-CZTS films post-annealed at 400°C was found to be 1.6 eV. These PLD-CZTS films were directly integrated into Al/n-Si/PLD-CZTS/Al heterojunction PV devices without resorting to any surface treatment and/or post-sulfurization process. Under standard AM1.5 solar illumination, the Al/n-Si/PLD-CZTS/Al PV devices were found to yield a power conversion efficiency (η) of 1.1%, with a Voc of 0.140 V, a Jsc of 26 mA/cm2 and a fill factor of 31%. Even if the obtained η value is still modest, it underlines nonetheless the promising potential of PLD-CZTS films as an effective absorber layer in Si-based heterojunction solar cells.
Film-induced sadness as a trigger for disinhibited eating.

OBJECTIVE We tested whether film-induced sadness enhances food intake in restrained eaters. METHOD Female participants scoring either high or low on a measure of dietary restraint viewed two film segments in counterbalanced order on successive days: an emotionally neutral travelogue and a sad film depicting the death of the young female protagonist. RESULTS Contrast analyses revealed that film-induced sadness significantly reduced food intake in low-restraint individuals, but only nonsignificantly increased it in high-restraint individuals. DISCUSSION When sadness is induced without an apparent ego threat, high-restraint participants may not exhibit as much disinhibited eating as when they are exposed to mood inductions that threaten their self-esteem.
Sap flow and water transfer in the Garonne River riparian woodland, France: first results on poplar and willow

This work is the first attempt at using Granier sap sensors on Populus nigra, Populus x euramericanacv I45/51 and Salix alba for the monitoring of sap flows in an active floodplain over two consecutive years. The main characteristic of these diffuse porous trees is their capacity to use several tree rings for xylem sap transfer. Results showed that the sap flux densities remained homogeneous on the external 4 cm of the trunk, then decreased with depth. For young trees, the active sapwood can represent half of the trunk. Results indicated that in the same environment and at the same age, daily differences existed between the two major native riparian tree species, the black poplar and the white willow. Their maximal sap flux density (2.6-3.6 dm 3 dm -2 h -1 ) was similar to other fast growing trees. The influence of age was the third important screened factor. Sap flow measurements over several months indicated that water uptake was variable throughout the season, depending on water availability, and was more pronounced for older trees. The sap flux densities for the planted poplar (I45/51) ranged from 2.2-2.6 dm 3 dm -2 h -1 (about 90 dm 3 day -1 ) in the wetter spring conditions and dropped to 1.6-1.7 dm 3 dm -2 h -1 (about 60 dm 3 day -1 ) in less favourable conditions. Under the worst conditions, e.g., the especially long drought in the summer of 1998, these values dropped to 1.0-1.2 (about 40 dm 3 day -1 ), and even to 0.35 dm 3 dm -2 h -1 (about 12 dm 3 day -1 ) for a few days. Complementary long-term studies are needed to better understand the complex sap flow changes and to be able to relate them to si- gnificant environmental factors. Priority should be given to the long-term monitoring of sap flows at different depths for a correct esti- mation of actual daily water uptakes by riparian softwood trees. sap flow / riparian forest / water cycle / poplar / willow
Bleomycin-induced DNA lesions at mutational hot spots: implications for the mechanism of double-strand cleavage.

Using various end-labeled, defined-sequence DNA substrates, we examined bleomycin-induced damage at several G.C base pairs which correspond to mutational hot spots. The most frequent lesions detected were single-strand breaks and single apurinic/apyrimidinic (AP) sites at the C residue, suggesting that this was the primary site of damage. Strand breaks and AP sites also occurred, but less frequently, at a secondary damage site--i.e., the directly opposed G residue in the complementary strand. However, damage at the secondary site occurred only when a strand break was present at the primary site, and AP sites at the primary site were never accompanied by closely opposed damage in the complementary strand. Thus, formation of a strand break at the primary damage site was a necessary though not sufficient condition for attack at the secondary site. Similar patterns were seen at other sequences attacked by bleomycin, although primary and secondary sites were sometimes staggered by one nucleotide position rather than directly opposed. These and other results suggest a mechanism of double-strand cleavage in which bleomycin is reactivated during formation of the first strand break, and the reactivated drug subsequently attacks the complementary strand at a specific position which is not normally a site of bleomycin-induced cleavage. Regeneration of activated bleomycin could result from a reaction between Fe(III). bleomycin and a 4'-peroxyl derivative of deoxyribose, both produced during formation of the strand break.
Comparison of volatility distributions in the periods of booms and stagnations: an empirical study on stock price indices

The aim of this paper is to compare statistical properties of stock price indices in periods of booms with those in periods of stagnations. We use the daily data of the four stock price indices in the major stock markets in the world: (i) the Nikkei 225 index (Nikkei 225) from January 4, 1975 to August 18, 2004, of (ii) the Dow Jones Industrial Average (DJIA) from January 2, 1946 to August 18, 2004, of (iii) Standard and Poor's 500 index (SP500) from November 22, 1982 to August 18, 2004, and of (iii) the Financial Times Stock Exchange 100 index (FT 100) from April 2, 1984 to August 18, 2004. We divide the time series of each of these indices in the two periods: booms and stagnations, and investigate the statistical properties of absolute log returns, which is a typical measure of volatility, for each period. We find that (i) the tail of the distribution of the absolute log-returns is approximated by a power-law function with the exponent close to 3 in the periods of booms while the distribution is described by an exponential function with the scale parameter close to unity in the periods of stagnations.
Effect of mono-dose intraperitoneal cecropins in experimental septic shock

ObjectiveTo investigate the efficacy of three cecropins, cecropin A, cecropin B, and cecropin P1, in preventing lethality in a rat model of septic shock. DesignProspective, randomized, controlled animal study. SettingResearch laboratory in a university hospital. SubjectsAdult male Wistar rats. InterventionsRats were given an intraperitoneal injection of 2 × 1010 colony forming units of Escherichia coli, with the exception of the uninfected control group (C0). Animals were randomized to receive, immediately after bacterial challenge, intraperitoneally isotonic sodium chloride solution (untreated control group C1), 1 mg/kg cecropin A (group 2), 1 mg/kg cecropin B (group 3), 1 mg/kg cecropin P1 (group 4), 20 mg/kg imipenem (group 5), or 60 mg/kg piperacillin (group 6). Each group included 15 animals. Measurements and Main Results We measured bacterial growth (quantitative agar culture) in abdominal exudate and plasma, endotoxin and tumor necrosis factor-&agr; concentration in plasma, and mortality. Results were evaluated at 48 hrs after inoculation. Cecropins, piperacillin, and imipenem significantly reduced the lethality and the number of E. coli in abdominal fluid compared with saline treatment. In addition, cecropin B significantly decreased the lethality compared with piperacillin treatment. Finally, only cecropins significantly reduced plasma endotoxin concentration. ConclusionsMono-dose cecropin treatment prevents bacterial growth, endotoxemia, and mortality in rats with septic shock. Cecropin B was the most effective compound in reducing all variables measured.
NOMINAL AND REAL EXCHANGE RATES AND PURCHASING POWER PARITY DURING THE GUATEMALAN FLOAT, 1897-1922

From around 1897 until 1924 the Guatemalan peso was a fiat currency whose exchange value floated against the U.S. dollar. The behavior of the nominal exchange rate is consistent with purchasing power parity. The hypothesis that the elasticities of the exchange rate with respect to the domestic money supply and foreign price level are plus 1 and minus 1 cannot be rejected. The exchange rate, money supply and foreign price level each appear to follow a random walk with drift but are cointegrated, implying a stationary real exchange rate. The behavior of the real exchange rate is consistent with fundamentals. Terms of trade improvements and years of good coffee harvests are associated with real appreciation. The WWI period, which likely diminished or reversed long term capital inflows, is associated with real depreciation.
Competency management in the Flemish and Dutch civil service

Competency management has become a new trend in the public sector. There is some doubt, however, if competency management is really something new or whether it is just old wine in new bottles. Academics seem to be more sceptical about its novelty than practitioners. This article attempts to combine theory and practice. Some theoretical aspects of competency management are explored and definitions, reasons for implementation, novelty and implications for the HRM function are discussed. The theory is then confronted with two cases of competency management in the public sector. The first deals with the appraisal system in the Flemish administration and the second with the HR‐policy towards public managers in the Dutch civil service. The research material for the case studies was collected during a research project on international perspectives for HRM in the Flemish government.
Red Star Over Malaya: Resistance and Social Conflict During and After the Japanese Occupation, 1941-1946

Red Star Over Malaya is an account of the inter-racial conflicts between Malays and Chinese during the final stages and the aftermath of the Japanese occupation. As Japanese forces retreated into the big cities, the Chinese guerrillas of the communist-led resistance movement, the Malayan People's Anti-Japanese Army (MPAJA), emerged from the jungle and took control of some 70 per cent of the country's smaller towns and villages. The ensuing conflict involving the Malayan Communist Party, the Malay population and the British Military Administration marked a crucial stage in the history of Malaya. Based on extensive archival research in Malaysia, Great Britain, Japan and the United States, Red Star Over Malaya provides a riveting account of the way the Japanese occupation reshaped colonial Malaya, and of the tension-filled months that followed surrender. This book is fundamental to an understanding of social and political developments in Malaysia during the second half of the 20th century. First published in 1987, this book is a 'must' for any student of history in Southeast Asia. This edition contains a new foreword from the author.
A Macroeconomic Framework for Quantifying Growth and Poverty Reduction Strategies in Niger

The authors apply the dynamic macroeconomic framework developed by Agenor, Bayraktar, and El Aynaoui (2004) to Niger. As in the original model, linkages between foreign aid, public investment (disaggregated into education, infrastructure, and health), and growth are explicitly captured. Although the nominal exchange rate is fixed, the relative price of domestic goods is endogenous, thereby allowing for potential Dutch disease effects associated with increases in aid. The authors assess the impact of policy shocks on poverty by using partial growth elasticities. They perform various policy experiments, including an increase in the level of foreign aid, a reallocation of public investment toward infrastructure, and neutral and non-neutral cuts in tariffs. The simulations show the dynamic tradeoffs that these policies entail with respect to growth and poverty reduction in Niger.
Ruminal fermentation characteristics and microbial nitrogen assimilation in sheep fed differently composed grass silages

The investigation aimed at examining if the composition of grassland silage affects the microbial nitrogen assimilation in the rumen of sheep. The silages were made of vegetative summer re-growths consisting of 48% grasses, 28% legumes and 24% other forbs (GCF) or of pure grass (G). Silage GCF contained more intermediately degradable non-structural and less slowly degradable carbohydrates, more crude protein (CP), a narrower ratio between slow and very slow degradable nitrogen (N), and exhibited higher in situ degradability of organic matter and CP than Silage G. Four adult wethers equipped with rumen fistulae were used in a two factorial trial. Feed was offered either as silage alone or as a mixture of silage and barley (60:40). Microbial N was estimated using continuous intraruminal 15N infusion and measurement of 15N-enrichment in microbes isolated from rumen liquor samples. With the exception of trends for ruminal butyrate concentrations, no interactions were detected between silage and barley feeding. Sheep receiving Silage GCF exhibited larger diurnal fluctuations of ammonia, and produced more microbial N (p < 0.05) than sheep on Silage G. Feeding the silages with barley decreased ruminal pH and elevated the concentrations of butyrate (p < 0.05). The 15N incorporation into microbial N was reduced by barley feeding (p < 0.05) along with a trend to accelerated rumen fluid turnover, resulting in similar microbial N yields as found in sheep receiving silage without barley. It is concluded that the larger and better balanced amounts of intermediately degradable carbohydrate- and N-containing fractions favoured the ruminal microbial protein synthesis in sheep consuming Silage GCF instead of Silage G.
Aggregate consumption function and public social security: the first time-series study for a developing country, Turkey

This article is the first attempt in the literature to investigate the effects of public social security on aggregate consumption in a time-series setting for a developing country, Turkey that has one of the most generous social security systems in the organization for economic cooperation and development (OECD) region. In order to quantify the social security variable, this article uses the social security wealth (SSW) series calculated for Turkey in a separate study. This study indicates that SSW is the largest part of the household wealth in Turkey, and therefore should not be ignored in the aggregate consumption studies. The results show that its effect on consumption is positive and robust.