Does greater financial openness promote external competitiveness in emerging markets? The role of institutional quality

Studies have shown that external capital account liberalisation can boost capital inflows and augment economic development. Nevertheless, in the case of developing and emerging economies (DEE), adverse currency fluctuations could hamper external competitiveness due to relative price differences creating currency overvaluation, which might not be mitigated via financial openness alone. Therefore, this paper uses annual panel data for 35 DEEs over 40 years to explore whether financial openness of countries can help preserve their external price competitiveness, in the presence of greater trade openness and better institutional quality. Our findings suggest that financial openness alone does not aid export competitiveness, unless it is supported by greater trade openness. In addition, both cross country and regional analyses show that financial openness can benefit economies in maintaining their export competitiveness if they have stronger quality of institutions. Our results remain robust when we estimate the role of financial openness and institutional quality jointly on external competitiveness across regions, and during the pre‐ and post‐crisis periods. We conclude that financial openness alone is not sufficient to improve external competitiveness of an emerging economy, but it does help in the presence of greater trade openness or better institutions, enabling reduction in trade costs and thereby making these countries more price‐competitive

Development of an MFL Coil Sensor for Testing Pipes in Extreme Temperature Conditions

This paper aims to design a coil sensor for corrosion monitoring of industrial pipes that could detect variations in thickness using the MFL (Magnetic Flux Leakage) technique. An MFL coil sensor is designed and tested with pipe sample thicknesses of 2, 4, 6, and 8 mm based on the magnetic field effect of ferrite cores. Moreover, a measurement setup for analysing pipe samples up to a temperature of 200° Celsius is suggested. Experimental results reveal that the MFL coil sensor can fulfil the requirements for MFL testing of pipes in high temperature conditions, and that the precision of MFL monitoring of pipes to detect corrosion at high temperatures can be improved significantly

Transition Metal Complexes of Sulfonamide Based Schiff Bases: Preparation Characterization and Antibacterial Activity.

Metal complexes of Cu (II), Co (II), Ni (II) and Zn (II) of Schiff based derived from 2-hydroxy-7-methylquinoline-3-carbaldehyde and 2-hydroxy-7-methoxyquinoline-3-carbaldehyde with 3-aminobenzenesulfonamide have been prepared and characterized on the basis of their physical characteristics, micro-analytical data, 1H NMR, FTIR and UV spectrum data. The spectrum data confirmed coordination of Schiff base with metal through imine nitrogen and oxygen atom. While electronic spectrum data confirmed the octahedral geometry of the complexes.  Biological screening effect of Schiff base and their metal complexes have been studied against gram positive and gram negative bacteria by disc diffusion technique. Biological activities show that the complexes exhibit higher antibacterial activity than that of Schiff base against tested bacteria

Thermodynamical Metrics and Black Hole Phase Transitions

An important phase transition in black hole thermodynamics is associated with the divergence of the specific heat with fixed charge and angular momenta, yet one can demonstrate that neither Ruppeiner's entropy metric nor Weinhold's energy metric reveals this phase transition. In this paper, we introduce a new thermodynamical metric based on the Hessian matrix of several free energy. We demonstrate, by studying various charged and rotating black holes, that the divergence of the specific heat corresponds to the curvature singularity of this new metric. We further investigate metrics on all thermodynamical potentials generated by Legendre transformations and study correspondences between curvature singularities and phase transition signals. We show in general that for a system with n-pairs of intensive/extensive variables, all thermodynamical potential metrics can be embedded into a flat (n,n)-dimensional space. We also generalize the Ruppeiner metrics and they are all conformal to the metrics constructed from the relevant thermodynamical potentials.Comment: Latex, 25 pages, reference added, typos corrected, English polished and the Hawking-Page phase transition clarified; to appear in JHE

An Investigation of Temperature and Wind Impact on ACSR Transmission Line Sag and Tension

Power transmission is mainly based on overhead transmission lines with conductors being supported by transmission towers. Transmission lines are subjected to environmental stress (temperature changes, winds, snow etc), have an impact on the surrounding areas (visual pollution, building restrictions) and experience heavy losses due to resistive, magnetic and capacitive effects. Thus, proper modeling and installation of these conductors are necessary. The conductors are generally installed in a catenary shape to minimize the capacitive effects and to balance the tension. This paper presents an investigation on the sag and tension behavior under different temperature and wind of ACSR (Aluminum Conductor-Steel Reinforced) lines. Four different cases of temperature and wind are tested to calculate sag and tension. Simulation setup is done in ETAP (electrical transient and analysis program). Results are recorded and discussed

THE EFFECT OF THERMAL CONDITIONS ON PROCESS DEFECTS IN ELECTRON BEAM DIRECTED ENERGY DEPOSITION

Observing process defects at size scales and with sufficient confidence relevant to qualification efforts has not yet been achieved in metal AM, so non-destructive testing (NDT) techniques are used to detect porosity within material deposited. NDT costs can be significant and may not achieve targeted resolution due to geometry and material limitations. In this work, in-process monitoring of Electron Beam Directed Energy Deposition (EB-DED) is enhanced to include three thermal history conditions; inter-pass, melt pool superheat and trailing bead temperatures. Quality scenarios are applied to simulate various process conditions during EB-DED at three different thermal conditions within production relevant use cases and resultant process defects are characterized via high throughput computed tomography. Defects are spatially and temporally registered to process conditions observed during EB-DED and statistically mapped to thermal scenarios. Thermal condition has a strong influence on the quantity of observed process defects, with lower interpass temperature resulting in a larger number of defects.Mechanical Engineerin

Effects of waste frying oil and crumb rubber on the characteristics of a reclaimed asphalt pavement binder

The reclaimed asphalt pavement (RAP) has become a moderately common practice in most countries; Hence, rejuvenating materials with RAP have earned publicity in the asphalt manufacturers, mainly due to the increasing raw material costs. In this study, the crumb rubber (CR) and waste frying oil (WFO) utilized as waste materials to restore the properties and enhance the rutting resistance of the RAP. Several physical, rheological, chemical properties of bituminous binders were tested. The result showed that the RAP bituminous binders incorporating WFO and CR decreased softening points and the increased penetration value; these translate to an increase in penetration index. Moreover, the viscosity of the WFO/CR combination reclaimed asphalt pavement binder showed better workability and stiffness, as well as a low storage stability temperature (less than 2.2 degrees C) with an acceptable loss upon heating. Without chemical reaction was observed between the waste-frying oil with the rubberized binder and the reclaimed asphalt pavement binder. Additionally, the WFO/CR rheological properties combined with the reclaimed asphalt pavement binder were comparable to the control sample. The incorporation of CR with WFO as a hybrid rejuvenator enhanced the rutting resistance. Therefore, the presence of WFO/CR has a considerable influence on the RAP binder properties while preserving a better environment and reducing pollution by reusing waste materials

Counter-current chromatography for the separation of terpenoids: A comprehensive review with respect to the solvent systems employed

Copyright @ 2014 The Authors.This article is distributed under the terms of the Creative Commons Attribution License which permits any use, distribution, and reproduction in any medium, provided the original author(s) and the source are credited.Natural products extracts are commonly highly complex mixtures of active compounds and consequently their purification becomes a particularly challenging task. The development of a purification protocol to extract a single active component from the many hundreds that are often present in the mixture is something that can take months or even years to achieve, thus it is important for the natural product chemist to have, at their disposal, a broad range of diverse purification techniques. Counter-current chromatography (CCC) is one such separation technique utilising two immiscible phases, one as the stationary phase (retained in a spinning coil by centrifugal forces) and the second as the mobile phase. The method benefits from a number of advantages when compared with the more traditional liquid-solid separation methods, such as no irreversible adsorption, total recovery of the injected sample, minimal tailing of peaks, low risk of sample denaturation, the ability to accept particulates, and a low solvent consumption. The selection of an appropriate two-phase solvent system is critical to the running of CCC since this is both the mobile and the stationary phase of the system. However, this is also by far the most time consuming aspect of the technique and the one that most inhibits its general take-up. In recent years, numerous natural product purifications have been published using CCC from almost every country across the globe. Many of these papers are devoted to terpenoids-one of the most diverse groups. Naturally occurring terpenoids provide opportunities to discover new drugs but many of them are available at very low levels in nature and a huge number of them still remain unexplored. The collective knowledge on performing successful CCC separations of terpenoids has been gathered and reviewed by the authors, in order to create a comprehensive document that will be of great assistance in performing future purifications. © 2014 The Author(s)