Quality of Knowledge Technology, Returns to Production Technology and Economic Development

Presenting a discrete time version of the Romer (1986) model, this paper analyzes optimal paths in a one-sector growth model when the technology is not convex. We prove that for a given quality of knowledge technology, the countries could take-off if their initial stock of capital are above a critical level; otherwise they could face a poverty-trap. We show that for an economy which wants to take-off by means of knowledge technology requires three factors : large amount of initial knowledge, small fixed costs and a good quality of knowledge technology.Optimal Growth;optimal path;value fuction;poverty-trap;increasing returns

Failure Mechanism of True 2D Granular Flows

Most previous experimental investigations of two-dimensional (2D) granular column collapses have been conducted using three-dimensional (3D) granular materials in narrow horizontal channels (i.e., quasi-2D condition). Our recent research on 2D granular column collapses by using 2D granular materials (i.e., aluminum rods) has revealed results that differ markedly from those reported in the literature. We assume a 2D column with an initial height of h0 and initial width of d0, a defined as their ratio (a =h0/d0), a final height of h , and maximum run-out distance of d . The experimental data suggest that for the low a regime (a <0.65) the ratio of the final height to initial height is 1. However, for the high a regime (a >0.65), the ratio of a to (d-d0)/d0, h0/h , or d/d0 is expressed by power-law relations. In particular, the following power-function ratios (h0/h=1.42a^2/3 and d/d0=4.30a^0.72) are proposed for every a >0.65. In contrast, the ratio (d-d0)/d0=3.25a^0.96 only holds for 0.65< a1.5. In addition, the influence of ground contact surfaces (hard or soft beds) on the final run-out distance and destruction zone of the granular column under true 2D conditions is investigated.Comment: 8 page

The Globalization Strategy of Vietnamese IT Enterprises in the Context of ASEAN Economic Community Via the Case Study of Fpt Corporation Hoang Van Cuong, (Director of International Mobility Department, Fpt University Vietnam)

Vietnam IT Industry has been growing rapidly duringthe past 15 years. It has been considered as the mainshort cut to develop the Vietnamese economy from a lowincome to a middle income country (MIC). From 2002to 2013, the revenue of software industry increased 52times to reach nearly 3 US$billion; and the revenue ofhardware industry increased 70.5 times to reach 36.8US$ billion. Hanoi and Ho Chi Minh City – the twobiggest cities in Vietnam have been ranked in the Top100 outsourcing destinations by Tholons (an advisoryfirm for global outsourcing and investment).ASEAN is one of the key markets for Vietnam'sIT industry. The region also provides a high potentiallabor force market to solve the human resourceproblems of the IT enterprises. In this context, ASEANEconomic Community will have a significant influenceto the development of Vietnam's IT enterprises.This paper will discuss the globalizationstrategy of Vietnamese IT enterprises in the context ofASEAN Economic community via the case of FPTCorporation – the leading IT Company in Vietnamwhich currently has its office in Singapore, Malaysia,Thailand, Laos, Cambodia, Myanmar, Indonesia andthe Philippines

Arbitrage, Equilibrium, and Nonsatiation

In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded exchange economies which require, at minimum, global nonsatiation at rational allocations. Why do unbounded exchange economies admit existence without local or global nonsatiation? This question is the focus of our paper. We make two main contributions to the theory of arbitrage and competitive equilibrium. First, we show that, in general, in unbounded exchange economies (for example, asset exchange economies allowing short sales), even if some agents' preferences are satiated, the absence of arbitrage is sufficient for the existence of competitive equilibria, as long as each agent who is satiated has a nonempty set of useful net trades - that is, as long as agents' preferences satisfy weak nonsatiation. Second, we provide a new approach to proving existence in unbounded exchange economies. The key step in our new approach is to transform the original economy to an economy satisfying global nonsatiation such that all equilibria of the transformed economy are equilibria of the original economy. What our approach makes clear is that it is precisely the condition of weak nonsatiation - a condition considerably weaker than local or global nonsatiation - that makes possible this transformation. Moreover, as we show via examples, without weak nonsatiation, existence fails.Arbitrage, Asset market equilibrium, Nonsatiation, Recession cones

The Mindfulness Practice, Aesthetic Experience, and Creative Democracy

In this paper, we explore the degree to which the Buddhist mindfulness practice and the habits of democratic citizenship can be reconstructed in light of each other. We ask what mindfulness is, seeking to first understand it in its Buddhist context. Then we turn to the work of John Dewey in order to seek possibilities for mutual reconstruction. Finally, we ask how we can reconcile mindful acceptance of the present with the ameliorative habits of the democratic citizen—and what this might mean for a reconstructed progressive education practice

Arbitrage and equilibrium in unbounded exchange economies with satiation

International audienceIn his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded exchange economies which require, at minimum, global nonsatiation at rational allocations.Why do unbounded exchange economies admit existence without local or global nonsatiation? This question is the focus of our paper. First, we show that in unbounded exchange economies, even if some agents' preferences are satiated, the absence of arbitrage is suffcient for the existence of competitive equilibria, as long as each agent who is satiated has a nonempty set of useful net trades - that is, as long as agents' preferences satisfy weaknonsatiation. Second, we provide a new approach to proving existence in unbounded exchange economies. The key step in our new approach is to transform the original economy to an economy satisfying global nonsatiation such that all equilibria of the transformed economy are equilibria of the original economy. What our approach makes clear is that it is precisely the condition of weak nonsatiation - a condition considerably weaker than local or global nonsatiation - that makes possible this transformation

Arbitrage and equilibrium in economies with externalities

We introduce consumption externalities into a general equilibrium model with arbitrary consumption sets. To treat the problem of existence of equilibrium, a condition of no unbounded arbitrage, extending the condition of Page (1987) and Page and Wooders (1993, 1996) is defined. It is proven that this condition is sufficient for the existence of an equilibrium and both necessary and sufficient for compactness of the set of rational allocations