Business and financial services: new engine of economic growth?

Does unbalanced sectoral productivity growth inevitably lead to continuous shift of resources to the less productive sectors and stagnation in aggregate productivity? This paper attempts to integrate the traditional stagnationist and the modern optimist arguments within a numerical simulation framework. The simulation framework consists of an applied general equilibrium multi-sectoral growth model for a small open regional economy that incorporates unbalanced sectoral growth and the growing role of business and financial services as intermediate service providers. The simulation results lend support to the stagnationist view in the long run but reveal some unconventional comparative-static properties in the short- to medium run

Business and Financial Services: New Engine of Economic Growth

Original paper can be found at: http://www.ecomod.net/conferences/ecomod2006/ecomod2006.htmDoes the continuous shift of resources from the traditional sectors to the business and financial services sector imply inevitable stagnation in the aggregate productivity growth in the developed economies Economic inquiry into this issue has generated contradictory conclusions. This paper evaluates the traditional stagnationist and the modern optimist arguments and employs an applied general equilibrium multi-sectoral growth model to simulate the impact of unbalanced sectoral productivity growth on the overall productivity growth path. A particular focus is on the relationship between a sector s industrial linkages and its impact on overall growth. The simulation results suggest that the actual aggregate productivity growth path in the long-run deviates from either case

Decomposition of the efficiency of the Chinese state-owned commercial banks at the provincial level

This study adopts a bank production function approach to the measurement of banking efficiency at the provincial level in the Chinese state-owned commercial banking sector from 1998 to 2003. Applying Data Envelopment Analysis and efficiency decomposition analysis, this paper has revealed a significant level of pure technical input inefficiency and, to a lesser extent, scale inefficiency across the provincial branches of all the banking groups. The study has also uncovered the extent of inefficiency in individual banking inputs and provincial branches. Finally, the provincial-level efficiency is further decomposed into within-banking-group and between-banking-group effects

Creep Lifetime Assessment of Pressure-Tight PE100 Pipes Based on a Slow Fatigue Crack Growth

Polyethylene pipes are widely used in water supply, gas, and sewage systems due to their excellent mechanical properties. A slow crack growth is the primary fracture mechanism for the pipes under long-term internal pressures. If the creep loading is treated as a special case of fatigue loading, the slow crack growth kinetics of polyethylene is defined in fatigue fracture tests at different stress ratios and extrapolated to creep crack kinetics. Linear elastic fracture mechanics concepts became the basis for predicting the creep lifetime of pressure-tight pipes subjected to various hoop stresses from extrapolated (synthetic) creep crack growth curves, and the prediction is in good agreement with the standard extrapolation, in accordance with ISO 9080.Полиэтиленовые трубы широко применяются в водоснабжении, системах газоснабжения и канализации благодаря их высоким механическим свойствам. Медленный рост трещин является основным механизмом разрушения полиэтиленовых труб под длительным внутренним давлением. Рассматривая нагружение при ползучести как особый случай усталостного нагружения, кинетика медленного роста трещин в полиэтиленовом материале определяется путем испытаний на усталостное разрушение при различных коэффициентах асимметрии цикла напряжений и экстраполируется на кинетику трещин ползучести. Исходя из теории линейноупругой механики разрушения долговечность при ползучести полиэтиленовой трубы под давлением, подверженной действию различных окружных напряжений, прогнозируется на основе синтетической кривой роста трещин ползучести, и прогнозы хорошо согласуются со стандартной экстрополяцией в соответствии с ISO 9080

Distributed phase-covariant cloning with atomic ensembles via quantum Zeno dynamics

We propose an interesting scheme for distributed orbital state quantum cloning with atomic ensembles based on the quantum Zeno dynamics. These atomic ensembles which consist of identical three-level atoms are trapped in distant cavities connected by a single-mode integrated optical star coupler. These qubits can be manipulated through appropriate modulation of the coupling constants between atomic ensemble and classical field, and the cavity decay can be largely suppressed as the number of atoms in the ensemble qubits increases. The fidelity of each cloned qubit can be obtained with analytic result. The present scheme provides a new way to construct the quantum communication network.Comment: 5 pages, 4 figure

MicroRNA clusters integrate evolutionary constraints on expression and target affinities : the miR-6/5/4/286/3/309 cluster in Drosophila

This research was supported by the Hong Kong Research Grant Council GRF Grant (14103516), The Chinese University of Hong Kong Direct Grant (4053248), and TUYF Charitable Trust (6903957) (JHLH).A striking feature of microRNAs is that they are often clustered in the genomes of animals. The functional and evolutionary consequences of this clustering remain obscure. Here, we investigated a microRNA cluster miR-6/5/4/286/3/309 that is conserved across drosophilid lineages. Small RNA sequencing revealed expression of this microRNA cluster in Drosophila melanogaster leg discs, and conditional overexpression of the whole cluster resulted in leg appendage shortening. Transgenic overexpression lines expressing different combinations of microRNA cluster members were also constructed. Expression of individual microRNAs from the cluster resulted in a normal wild-type phenotype, but either the expression of several ancient microRNAs together (miR-5/4/286/3/309) or more recently evolved clustered microRNAs (miR-6-1/2/3) can recapitulate the phenotypes generated by the whole-cluster overexpression. Screening of transgenic fly lines revealed down-regulation of leg patterning gene cassettes in generation of the leg-shortening phenotype. Furthermore, cell transfection with different combinations of microRNA cluster members revealed a suite of downstream genes targeted by all cluster members, as well as complements of targets that are unique for distinct microRNAs. Considered together, the microRNA targets and the evolutionary ages of each microRNA in the cluster demonstrates the importance of microRNA clustering, where new members can reinforce and modify the selection forces on both the cluster regulation and the gene regulatory network of existing microRNAs.PostprintPeer reviewe

Anisotropic flow of charged hadrons, pions and (anti-)protons measured at high transverse momentum in Pb-Pb collisions at sNN=2.76\sqrt{s_{\rm NN}}=2.76 TeV

The elliptic, $v_2$, triangular, $v_3$, and quadrangular, $v_4$, azimuthal anisotropic flow coefficients are measured for unidentified charged particles, pions and (anti-)protons in Pb-Pb collisions at $\sqrt{s_{\rm NN}} = 2.76$ TeV with the ALICE detector at the Large Hadron Collider. Results obtained with the event plane and four-particle cumulant methods are reported for the pseudo-rapidity range $|\eta|<0.8$ at different collision centralities and as a function of transverse momentum, $p_{\rm T}$, out to $p_{\rm T}=20$ GeV/$c$. The observed non-zero elliptic and triangular flow depends only weakly on transverse momentum for $p_{\rm T}>8$ GeV/$c$. The small $p_{\rm T}$ dependence of the difference between elliptic flow results obtained from the event plane and four-particle cumulant methods suggests a common origin of flow fluctuations up to $p_{\rm T}=8$ GeV/$c$. The magnitude of the (anti-)proton elliptic and triangular flow is larger than that of pions out to at least $p_{\rm T}=8$ GeV/$c$ indicating that the particle type dependence persists out to high $p_{\rm T}$.Comment: 16 pages, 5 captioned figures, authors from page 11, published version, figures at http://aliceinfo.cern.ch/ArtSubmission/node/186

Centrality dependence of charged particle production at large transverse momentum in Pb-Pb collisions at sNN=2.76\sqrt{s_{\rm{NN}}} = 2.76 TeV

The inclusive transverse momentum ($p_{\rm T}$) distributions of primary charged particles are measured in the pseudo-rapidity range $|\eta|<0.8$ as a function of event centrality in Pb-Pb collisions at $\sqrt{s_{\rm{NN}}}=2.76$ TeV with ALICE at the LHC. The data are presented in the $p_{\rm T}$ range $0.15<p_{\rm T}<50$ GeV/$c$ for nine centrality intervals from 70-80% to 0-5%. The Pb-Pb spectra are presented in terms of the nuclear modification factor $R_{\rm{AA}}$ using a pp reference spectrum measured at the same collision energy. We observe that the suppression of high-$p_{\rm T}$ particles strongly depends on event centrality. In central collisions (0-5%) the yield is most suppressed with $R_{\rm{AA}}\approx0.13$ at $p_{\rm T}=6$-7 GeV/$c$. Above $p_{\rm T}=7$ GeV/$c$, there is a significant rise in the nuclear modification factor, which reaches $R_{\rm{AA}} \approx0.4$ for $p_{\rm T}>30$ GeV/$c$. In peripheral collisions (70-80%), the suppression is weaker with $R_{\rm{AA}} \approx 0.7$ almost independently of $p_{\rm T}$. The measured nuclear modification factors are compared to other measurements and model calculations.Comment: 17 pages, 4 captioned figures, 2 tables, authors from page 12, published version, figures at http://aliceinfo.cern.ch/ArtSubmission/node/284

Particle-yield modification in jet-like azimuthal di-hadron correlations in Pb-Pb collisions at sNN\sqrt{s_{\rm NN}} = 2.76 TeV

The yield of charged particles associated with high-$p_{\rm T}$ trigger particles ($8 < p_{\rm T} < 15$ GeV/$c$) is measured with the ALICE detector in Pb-Pb collisions at $\sqrt{s_{\rm NN}}$ = 2.76 TeV relative to proton-proton collisions at the same energy. The conditional per-trigger yields are extracted from the narrow jet-like correlation peaks in azimuthal di-hadron correlations. In the 5% most central collisions, we observe that the yield of associated charged particles with transverse momenta $p_{\rm T}> 3$ GeV/$c$ on the away-side drops to about 60% of that observed in pp collisions, while on the near-side a moderate enhancement of 20-30% is found.Comment: 15 pages, 2 captioned figures, 1 table, authors from page 10, published version, figures at http://aliceinfo.cern.ch/ArtSubmission/node/350