Kicking away the financial ladder? German development banking under economic globalisation

© 2018, © 2018 Informa UK Limited, trading as Taylor & Francis Group. While extensive literature exists on how economic globalisation has limited developing countries' policy space for industrial policy, the literature on how it has affected advanced economies remains scant. We utilise original archival material to analyse the activities of the German public development bank, the Kreditantstalt für Wiederaufbau (KfW), in order to shed light on an important, but neglected aspect of German industrial policy. We analyse how the KfW responded to multiple challenges after the rise of economic globalisation, including a funding crisis, international agreements to limit export subsidies and Europeanisation. We argue that KfW successfully managed to navigate these challenges in order to retain, and even increase, its ability to conduct selective industrial policy in the post-1980s era. This was possible because of Germany's hard currency and low sovereign credit risk, large market size, which was augmented by membership in the European Union, and Germany's position as regional hegemon within Europe. More broadly, this shows how, conditional on domestic politics, advanced economies are able to shape and exploit the rules of the international economic system to implement industrial policies to their advantage, even as developing countries are given the opposite policy recommendations

BinD: A Model of Growth, Climate Change, and Debt Sustainability

Climate change disproportionately impacts capital and output in low- and middle-income countries (LMICs). Limited fiscal space and high dependence on capital good imports further curtail their ability to make timely climate-resilient investments. In this paper we present a demand-driven model that is supply-side constrained due to insufficient build up of production capacity. Calibrating the model to Fiji, we evaluate growth pathways for three climate futures – 2C, 3C, and 4C global warming by the end of the century. We evaluate the role of a public climate fund to enable partial recovery that is financed through four different schemes - debt-led recovery, higher tax on households, higher taxes on capitalists, and unconditional grants from the rest of the world. Recovery is possible in the 2C scenario, but the 3C and 4C scenarios increasingly face higher investment costs in the face of lower growth and saving rates. In the 4C scenario, even the most generous unconditional grants scheme fails to prevent the downward spiral of hitting capacity constraints despite an initial boost to output. These insights underscore the need for effective and equitable domestic climate policies and affordable finance and compensation to support sustainable development in vulnerable countries

A flexible and pattern reconfigurable antenna with small dimensions and simple layout for wireless communication systems operating over 1.65–2.51 ghz

This research article proposes a compact frequency and pattern reconfigurable flexible antenna for heterogeneous applications. A triangular monopole antenna with a semicircular stub is made frequency and pattern tunable by connecting and disconnecting two inverted L-shaped stubs utilizing diodes. When either of the stubs is connected to the radiator, a relative phase difference happens at both ends of the radiator that changes the direction of the electromagnetic radiations, consequently pattern reconfigurability can be obtain. Besides that, because of the reactive load introduced by the stubs, the antenna's effective length has changed and, as a result, the frequency reconfigurability can be attained. The antenna features a compact size of 40 x 50 x 0.254 mm(3) corresponding to 0.22 lambda(o) x 0.27 lambda(o) x 0.001 lambda(o), where lambda(o) is free-space wavelength at 1.65 GHz, while its operational bandwidth is from 1.65 GHz to 2.51 GHz, with an average gain and radiation efficiency of better than 2.2 dBi and 80%, exhibiting a pattern reconfigurability of 180 degrees in the E-plane. The frequency of the proposed antenna can be switched from 2.1 GHz to 1.8 GHz by switching the state of both diodes in OFF and ON-state, respectively. The fabricated prototype of the antenna is tested to verify its performance parameters. In addition, to validate the proposed design, it has been compared with prior arts in terms of the overall size, reconfigurability type, flexibility, radio frequency (RF) switch type used for reconfigurability, and frequency bandwidth. The proposed antenna provides smaller size with a large bandwidth coverage alongside with discrete RF switch type with the advantages of flexibility and both frequency and pattern reconfigurability. As a result, the proposed compact flexible and pattern reconfigurable antenna is a promising candidate for heterogeneous applications, including the global system for mobile (GSM) band (1800 and 1900 MHz) and industrial, scientific and medical (ISM) band (2.4 GHz) along with well-known cellular communication bands of 3G, 4G, and long term evolution (LTE) bands ranging from 1700-2300 MHz around the globe

Novel technique for constraining r-process (n,γ\gamma) reaction rates

A novel technique has been developed, which will open exciting new opportunities for studying the very neutron-rich nuclei involved in the r-process. As a proof-of-principle, the $\gamma$-spectra from the $\beta$-decay of $^{76}$Ga have been measured with the SuN detector at the National Superconducting Cyclotron Laboratory. The nuclear level density and $\gamma$-ray strength function are extracted and used as input to Hauser-Feshbach calculations. The present technique is shown to strongly constrain the $^{75}$Ge($n,\gamma$)$^{76}$Ge cross section and reaction rate.Comment: 5 pages, 3 figure

Inter-band B(E2) transition strengths in odd-mass heavy deformed nuclei

Inter-band B(E2) transition strengths between different normal parity bands in 163Dy and 165Er are described using the pseudo-SU(3) model. The Hamiltonian includes Nilsson single-particle energies, quadrupole-quadrupole and pairing interactions with fixed, parametrized strengths, and three extra rotor terms used to fine tune the energy spectra. In addition to inter-band transitions, the energy spectra and the ground state intra-band B(E2) strengths are reported. The results show the pseudo-SU(3) shell model to be a powerful microscopic theory for a description of the normal parity sector in heavy deformed odd-A nuclei.Comment: 4 figures, 2 table

Comparison of outcomes following transfemoral versus trans-subclavian approach for transcatheter aortic valve Implantation: a meta-analysis

Background The subclavian artery is an alternative access route for transcatheter aortic valve implantation (TAVI), with a potential advantage in patients unsuitable for traditional access routes such as the femoral artery. This study aimed to determine the safety and efficacy of the trans-subclavian (TSc) compared to the trans-femoral (TF) approach. Methods A systematic review was conducted on two online databases: Embase and Medline. The initial search returned 508 titles. Nine observational studies were included: n = 2938 patients (2382 TF and 556 TSc). Results Both TSc and TF groups were comparable for: 30-day mortality (Odds ratio, OR 0.75, 95% CI 0.49 – 1.16, p = 0.195); in-hospital stroke (OR 1.05, 95% CI 0.60–1.85, p = 0.859); myocardial infarction (OR 1.97, 95% CI 0.74–5.23, p = 0.176); paravalvular leaks (OR 1.20, 95% CI 0.76–1.90, p = 0.439); rates of postoperative permanent pacemaker implantation (OR 1.49, 95% CI 0.92–2.41, p = 0.105); in-hospital bleeding and meta-analysis demonstrated no significant difference between access points (OR 3.44, 95% CI 0.35–34.22, p = 0.292). Procedural time was found to be longer in the TSc group (SMD 1.02; 95% CI 0.815–1.219, p < 0.001). Major vascular complications were significantly higher in the TF group (OR 0.55, 95% CI 0.32–0.94, p = 0.029). Meta regression found no influence of the covariates on the outcomes. Conclusion Subclavian access is both a safe and feasible alternative access route for TAVI with lower risks of major vascular complications. This study supports the use of subclavian access as a viable alternative in patient groups where transfemoral TAVI is contraindicated

Building Back Better in Small Island Developing States in the Pacific: Initial Insights from the BinD Model of Disaster Risk Management Policy Options in Fiji. ADBI Working Paper 1290.

Building resilience to disasters continues to pose challenges for developing countries. Historically, small island developing states (SIDS) bordering the Pacific Ocean have suffered from multiple hazards, such as earthquakes, coastal erosion, floods, and cyclones. Population increase, uneven progress in socioeconomic development, and the ongoing environmental degradation, including climate change, have exaggerated their vulnerability to disasters. At the same time, the recent COVID-19 global pandemic has shown that the small, remote, and less-diversified economies of SIDS are particularly prone to additional external shocks. Events such as COVID-19, in combination with disasters resulting from natural hazards, pose additional challenges for resource-constrained economies’ recovery. However, the existing literature has rarely evaluated such interactions. This study hence provides initial insights into the interaction of alternative DRM policies in the presence of additional demand-side constraints, which we evaluated through the recently developed binary constrained disaster (BinD) model. Our results indicate that a targeted increase of government spending in times of crisis could be beneficial for the economic recovery of Fiji. However, short-term trade-offs emerged with respect to financing options. Debt-financed recovery allows a faster and less painful recovery but requires quick and preferential access to foreign borrowing. Tax-financed recovery can compensate for short-term foreign borrowing needs but comes at the cost of more detrimental impacts on the GDP and private sector consumption