PRIVATE INVESTMENT AND FINANCIAL SECTOR POLICIES IN DEVELOPING COUNTRIES

This paper examines the role of financial sector policies in determining private investment in the economies of India and Malaysia. The results suggest that the presence of significant directed credit programs favoring certain priority sectors in the economies appear to be harmful for private capital formation in both countries. Interest rate controls seem to have a positive impact on investment in the private sector, and the effect is found to be stronger in India. While high reserve and liquidity requirements exert a negative influence on private investment in India, the effect is found to be positive in Malaysia.Private investment; financial sector policies; India; Malaysia.

How Important is Money in the Conduct of Monetary Policy?

This paper was presented as the 2006 W.A. Mackintosh Lecture at Queen's University. I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means returning to the conceptual framework that allowed the high inflation of the 1970s. Second, I consider whether models of inflation determination with no role for money are incomplete, or inconsistent with elementary economic principles. Third, I consider the implications for monetary policy strategy of the empirical evidence for a long­run relationship between money growth and inflation. (Here I give particular attention to the implications of "two-­pillar Phillips curves" of the kind proposed by Gerlach (2003).) And fourth, I consider reasons why a monetary policy strategy based solely on short-­run inflation forecasts derived from a Phillips curve may not be a reliable way of controlling inflation. I argue that none of these considerations provide a compelling reason to assign a prominent role to monetary aggregates in the conduct of monetary policy.inflation, Phillips curve, monetary policy

Method And Apparatus For Measuring Thermal Warpage

A method and apparatus for measuring thermally induced warpage in test elements such as printed wiring boards and printed wiring assemblies, including a heating chamber having a transparent window and support structure for supporting a printing wiring board in an observation orientation and position parallel to the transparent window. A glass grating placed adjacent the window and a light source shines through the window onto the printed wiring board under test. A camera is positioned for capturing images of shadow moire fringes formed over time as the oven heats up the printed wiring board or printed wiring assembly to simulate actual process conditions. A computer is used for controlling operation of the apparatus and for evaluating the captured images of the moire fringes in relation to the temperature as a function of time.Georgia Tech Research Corporatio

Applications of aerospace technology in the electric power industry

An overview of the electric power industry, selected NASA contributions to progress in the industry, linkages affecting the transfer and diffusion of technology, and, finally, a perspective on technology transfer issues are presented

Analog VLSI-Based Modeling of the Primate Oculomotor System

One way to understand a neurobiological system is by building a simulacrum that replicates its behavior in real time using similar constraints. Analog very large-scale integrated (VLSI) electronic circuit technology provides such an enabling technology. We here describe a neuromorphic system that is part of a long-term effort to understand the primate oculomotor system. It requires both fast sensory processing and fast motor control to interact with the world. A one-dimensional hardware model of the primate eye has been built that simulates the physical dynamics of the biological system. It is driven by two different analog VLSI chips, one mimicking cortical visual processing for target selection and tracking and another modeling brain stem circuits that drive the eye muscles. Our oculomotor plant demonstrates both smooth pursuit movements, driven by a retinal velocity error signal, and saccadic eye movements, controlled by retinal position error, and can reproduce several behavioral, stimulation, lesion, and adaptation experiments performed on primates

Alone Self-Excited Induction Generators

In recent years, some converter structures and analyzing methods for the voltage regulation of stand-alone self-excited induction generators (SEIGs) have been introduced. However, all of them are concerned with the three-phase voltage control of three-phase SEIGs or the single-phase voltage control of single-phase SEIGs for the operation of these machines under balanced load conditions. In this paper, each phase voltage is controlled separately through separated converters, which consist of a full-bridge diode rectifier and one-IGBT. For this purpose, the principle of the electronic load controllers supported by fuzzy logic is employed in the two-different proposed converter structures. While changing single phase consumer loads that are independent from each other, the output voltages of the generator are controlled independently by three-number of separated electronic load controllers (SELCs) in two different mode operations. The aim is to obtain a rated power from the SEIG via the switching of the dump loads to be the complement of consumer load variations. The transient and steady state behaviors of the whole system are investigated by simulation studies from the point of getting the design parameters, and experiments are carried out for validation of the results. The results illustrate that the proposed SELC system is capable of coping with independent consumer load variations to keep output voltage at a desired value for each phase. It is also available for unbalanced consumer load conditions. In addition, it is concluded that the proposed converter without a filter capacitor has less harmonics on the currents