Does Stock Market Liberalisation Benefit The Economy? Evidence From Industry-Level Data

The paper examines the impact of stock market liberalisation on four industry-level economic variables, i) growth in real value added, ii) growth in real wages per worker, iii) growth in the number of employees and iv) growth in the number of firms using data on 18 developing countries for the period between 1981 - 2000. Genetic programming methodology is used to determine the liberalisation dates. Results from difference-in-differences regression indicate that stock market liberalisation has minimal impact on the growth of real value added. On the other hand, growth rates of real wages per worker, number of employees and number of firms are significantly higher for most countries after stock market liberalisation.stock market liberalisation, genetic programming, difference- indifferences regression

Improved Lower Bounds for Constant GC-Content DNA Codes

The design of large libraries of oligonucleotides having constant GC-content and satisfying Hamming distance constraints between oligonucleotides and their Watson-Crick complements is important in reducing hybridization errors in DNA computing, DNA microarray technologies, and molecular bar coding. Various techniques have been studied for the construction of such oligonucleotide libraries, ranging from algorithmic constructions via stochastic local search to theoretical constructions via coding theory. We introduce a new stochastic local search method which yields improvements up to more than one third of the benchmark lower bounds of Gaborit and King (2005) for n-mer oligonucleotide libraries when n <= 14. We also found several optimal libraries by computing maximum cliques on certain graphs.Comment: 4 page

Coupled-mode theory for stimulated Raman scattering in high-Q/Vm silicon photonic band gap defect cavity lasers

We demonstrate the dynamics of stimulated Raman scattering in designed high-Q/Vm silicon photonic band gap nanocavities through the coupled-mode theory framework towards optically-pumped silicon lasing. The interplay of other chi(3) effects such as two-photon absorption and optical Kerr, related free-carrier dynamics, thermal effects, as well as linear losses such as cavity radiation and linear material absorption are included and investigated numerically. Our results clarify the relative contributions and evolution of the mechanisms, and demonstrate the lasing and shutdown thresholds. Our studies illustrate the conditions for continuous-wave and pulsed highly-efficient Raman frequency conversion to be practically realized in monolithic silicon high-Q/Vm photonic band gap defect cavities.Comment: 40 pages, 11 figures, submitted to Physics Review