Does Foreign Direct Investment Promote Economic Growth? Evidence from a Threshold Regression Analysis

Using threshold regression techniques developed by Caner and Hansen(2004),this paper examines whether the effect of foreign direct investment (FDI) on economic growth is dependent upon different absorptive capacities. There are three absorptive capacities, namely, initial GDP, human capital and the volume of trade, that are used as threshold variables in our paper. The empirical analysis shows that FDI alone plays an ambiguous role in contributing to economic growth based on a sample of 62 countries covering the period from 1975 through 2000. Under the threshold regression, we find that initial GDP and human capital are important factors in explaining FDI. FDI is found to have a positive and significant impact on growth when host countries have better levels of initial GDP and human capital.

Asymmetric Exchange Rate Exposure and Industry Characteristics : Evidence from Japanese Data

This paper investigates the asymmetric effects of exchange rate exposure on Japanese stock returns at the industry level.Using the asymmetric correlation test of Hong et al.(2007), we examine five major currencies against the yen and thirty-three Japanese sectoral stock returns.Signi ficant asymmetric responses in stock returns to exchange rate changes are found in the pharmaceutical, real estate, and air transportation industries.These findings are consistent with the pricing-to-market and hysteretic behavior for the pharmaceutical and air transportation industries and with the hedging behavior for the real estate industry.The results for the threshold models confirm that the asymmetric exposures are based on industry characteristics.exchange rate exposure, asymmetric correlation, threshold model

Learning Deep Latent Spaces for Multi-Label Classification

Multi-label classification is a practical yet challenging task in machine learning related fields, since it requires the prediction of more than one label category for each input instance. We propose a novel deep neural networks (DNN) based model, Canonical Correlated AutoEncoder (C2AE), for solving this task. Aiming at better relating feature and label domain data for improved classification, we uniquely perform joint feature and label embedding by deriving a deep latent space, followed by the introduction of label-correlation sensitive loss function for recovering the predicted label outputs. Our C2AE is achieved by integrating the DNN architectures of canonical correlation analysis and autoencoder, which allows end-to-end learning and prediction with the ability to exploit label dependency. Moreover, our C2AE can be easily extended to address the learning problem with missing labels. Our experiments on multiple datasets with different scales confirm the effectiveness and robustness of our proposed method, which is shown to perform favorably against state-of-the-art methods for multi-label classification.Comment: published in AAAI-201

Different Implications of Paternal and Maternal Atopy for Perinatal IgE Production and Asthma Development

Asthma is a hereditary disease associated with IgE-mediated reaction. Whether maternal atopy and paternal atopy have different impacts on perinatal IgE production and asthma development remains unclear. This paper reviews and summarizes the effects of maternal and paternal atopy on the developmental aspects of IgE production and asthma. Maternal atopy affects both pre- and postnatal IgE production, whereas paternal atopy mainly affects the latter. Maternally transmitted genes GSTP1 and FceRI-beta are associated with lung function and allergic sensitization, respectively. In IgE production and asthma development, the maternal influence on gene-environment interaction is greater than paternal influence. Maternal, paternal, and/or postnatal environmental modulation of allergic responses have been linked to epigenetic mechanisms, which may be good targets for early prevention of asthma

Palpation of preoperatively inserted indwelling angiocatheter facilitates intraoperative localization of obscure gastrointestinal bleeding of small intestinal origin

SummaryBackgroundPalpation of the indwelling angiographic catheter inserted before operation to localize obscure gastrointestinal bleeding of small intestinal origin during laparotomy has rarely been reported in the literature.PurposeThe purpose of the study is to investigate the role of palpable indwelling angiocatheter inserted before operation in localizing obscure gastrointestinal bleeding of small intestinal origin during laparotomy.MethodsBetween January 2003 and December 2010, seven patients who had a clinical impression of obscure gastrointestinal bleeding of small intestinal origin and angiographic extravasation from the mesenteric artery had an angiocatheter inserted into the distal mesenteric branch. During laparotomy the catheter was palpated to guide subsequent resection of the intestine. The clinical outcomes of these patients were retrospectively reviewed.ResultsDuring laparotomy the retained catheter failed to be palpated in one patient. Six patients underwent segmental resection of intestine under guidance of the palpated catheter. All six patients had positive identification of small bowel bleeding. The yield rate of intraoperative localization was 86% (6 out of 7). Two of the six patients ceased bleeding after operation, but died of underlying disease progression. Four of the six patients had an uneventful postoperative clinical course without recurrent bleeding after a median follow-up period of 25 months.ConclusionPalpation of the indwelling angiographic catheter selectively left before operation is effective for precisely locating obscure gastrointestinal bleeding of small intestinal origin during laparotomy

CFTR Mutation Analysis of a Caucasian Father with Congenital Bilateral Absence of Vas Deferens, a Taiwanese Mother, and Twins Resulting from ICSI Procedure

Cystic fibrosis (CF), caused by mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, is one of the most common autosomal recessive diseases in Caucasians. We screened for the CFTR gene mutation in a Caucasian father with congenital bilateral absence of the vas deferens (CBAVD), a Taiwanese mother, and twins resulting from an intracytoplasmic single sperm injection (ICSI) procedure. DNA fragments that showed abnormal banding patterns on temporal temperature gradient gel electrophoresis analysis followed by analysis of DNA sequence was used. The Caucasian father with CBAVD had ΔF508 and p.L375F mutations. The two children were heterozygous for the ΔF508 and p.L375F mutations, respectively. Mutation analysis of the CFTR gene should always be recommended for infertile couples seeking ICSI. The possibility of the children resulting from ICSI being a victim or carrier of CBAVD or CF, especially when the father is Caucasian with CBAVD, should be discussed during genetic counseling

Toward Optimal Resource Allocation of Virtualized Network Functions for Hierarchical Datacenters

Telecommunications service providers (TSPs) previously provided network functions to end users with dedicated hardware, but they are resorting to virtualized infrastructure for reducing costs and increasing flexibility in resource allocation. A representative case is the Central Office Re-architected as Datacenter (CORD) project from AT&T, which aims to deploy virtualized network functions (VNFs) to over 4000 central offices (COs) across the U.S. However, there is a wide spectrum of options for deploying VNFs over the COs, varying from highly distributed to highly centralized manners. The former benefits end users with short response time but has its inherent limitation on utilizing geographically dispersed resources, while the latter allows resources to be better utilized at a cost of longer response time. In this work, we model the TSP's virtualized infrastructure as hierarchical datacenters, namely hierarchical CORD, and provide a resource allocation solution to strike the optimal balance between the two extreme options. Our evaluations reveal that in general, the 3-tier architecture incurs the least cost in case of deploying VNFs under moderate or loose delay constraints. Furthermore, the margin of improvement on the resource allocation cost increases inversely with the overall system utilization rate. Our results also suggest that as heavy request load overwhelms the network infrastructure, the relevant VNFs shall be migrated to lower-tier edge datacenters or to some nearby datacenters with superior network capacity. The evaluations also demonstrate that the proposed model allows highly adaptive VNF deployment in the hierarchical architecture under various conditions.This work was supported in part by H2020 Collaborative Europe/Taiwan Research Project 5G-CORAL under Grant 761586, and in part by the Ministry of Science and Technology, Taiwan, under Grant MOST-106-2218-E-009-018 and Grant MOST-106-2221-E-194-021-MY3