The Extended Chiral Quark Model in a Tamm-Dancoff Inspired Approximation

A procedure inspired by the Tamm-Dancoff method is applied to the chiral quark model which has been extended to include additional degrees of freedom: a pseudoscalar isoscalar field as well as a triplet of scalar isovector fields. The simpler, generic $\sigma$ -- model has been used before as a test for the Tamm-Dancoff inspired approximation (TDIA). The extended chirial quark model is employed here to investigate possible novel effects of the additional degrees of freedom as well as to point out the necessesity to introduce a SU(3) flavour. Model predictions for the axial-vector coupling constant and for the nucleon magnetic moment obtained in TDIA are compared with experimental values.Comment: 14 pages, LaTe

Toward a long-term strategy of economic development of Croatia: Where to begin, what to do and how to do it?

This paper attempts to elaborate the main principles of an economic development strategy suitable for Croatia over the next 10–15 years. Based on brief analyses of advances made in development theory and policy and experiences of the emerging market economies in Asia, Latin America, and Central Europe, the paper identifies critical factors necessary for launching an accelerated process of economic development. These factors are: leadership commitment to economic development; the level and quality of social and human capital; application of modern (especially information) technology; stable and consistent macroeconomic policies; and efficient market-based institutions. The paper then analyses Croatia’s strengths and weaknesses in terms of these factors in comparison with a select group of economies: Slovenia, Hungary, the Czech Republic, Portugal, Ireland, Chile, Uruguay, Hong Kong and Singapore. In addition, the paper analyses implications of “new economy” developments in the United States and other advanced industrial countries for a small open economy like Croatia. Against this background, the paper proposes seven basic principles for elaborating a long-term strategy of Croatia’s economic development: (i) Setting a clear development goal—the paper proposes a doubling of real per capita GDP to US$10,000 in the next 10–15 years, which would require an average annual growth rate of about 5½%, and that this growth rate is achievable; (ii) Ensuring transparency and equal access to development opportunities, as opposed to following specific industrial policy; (iii) Adjusting to globalisation of economic activity and absorbing “new economy” developments; (iv) Implementing fundamental reform of labour markets, with a view to reducing the high non-wage labour costs through pension and health care reforms; (v) Actively promoting financial market development by accelerating corporate and bank restructuring, and legal and judicial system reforms; (vi) Deciding on the economic role of the state in such areas as education, legal and judicial systems, market regulation, infrastructure, and science and technology; and (vii) Maintaining stable and consistent macroeconomic policies to facilitate structural reforms. The paper briefly discusses the main benefits and costs of a possible “euroisation” of Croatia’s economy, and arrangements for a possible transition from the current monetary and exchange rate regime, characterised by a high degree of factor and commodity price indexation to the Deutsche mark, toward a more flexible interim regime that would facilitate the eventual adoption of the euro and be consistent with the overall development strategy outlined

Impact of carbon dioxide on Ivanić oilfield in tertiary oil recovery phase

Godišnja proizvodnja nafte u Hrvatskoj s više od 30 naftnih polja je nešto veća od 500 000 tona. Tijekom proteklih 50 godina iz naftnih ležišta u Hrvatskoj ostvaren je prosječan iscrpak nafte od 32,6% utvrđenih rezervi nafte. Sadašnja cijena nafte na svjetskom tržištu potencira primjenu tercijarnih metoda povećanja iscrpka nafte. Ukoliko se iz postojećih ležišta nafte u Hrvatskoj uz te metode poveća iscrpak nafte za 3%, to dovodi do povećanja godišnje proizvodnje od 15 000 tona nafte. U svjetskoj praksi sve zastupljenija je proizvodnja nafte tercijarnim metodama pri čemu utiskivanje ugljičnog dioksida u naftna ležišta ima najveću primjenu. Na temelju laboratorijskih ispitivanja primjene tercijarnih metoda povećanja iscrpka iz naftnih ležišta u Hrvatskoj utiskivanje ugljičnog dioksida je odabrano kao najpovoljnija metoda povećanja iscrpka nafte iz ležišta naftnog polja Ivanić. Tijekom utiskivanja ugljičnog dioksida u naftno ležište mijenja se njegovo agregatno stanje iz kapljevitog u plinsko ili pregrijano stanje. Mjereni podaci o ugljičnom dioksidu u laboratorijskim uvjetima i uvjetima utiskivanja u ležište nažalost odstupaju. S obzirom na to da su mjerenja u bušotinskim uvjetima skupa, a neki puta i tehnološki neizvediva, za poznavanje stanja ugljičnog dioksida u bušotinskim uvjetima uzimaju se različite aproksimacije uz upotrebu raznovrsnih jednadžbi stanja. Izmjereni podaci o faznom stanju ugljičnog dioksida u širokom rasponu p,T uvjeta tijekom njegova utiskivanja u ležišta naftnog polja Ivanić tijekom pilot projekta željeli su se aproksimirati nekom od brojnih jednadžbi stanja i ne mogu se na nekom drugom ležištu koristiti. Od brojnih kubičnih jednadžbi stanja odabrane su van der Waalsova, Redlich-Kwongova, Soave-Redlich-Kwongova, Peng-Robinsonova, Valderrama-Cisternasova, Patel-Tejina, Lawal-Lake- Silberbergova i Martin-Houova jednadžba. Nakon sveobuhvatne analize mjerenih i računatih vrijednosti u širokom rasponu p,T uvjeta preporučene su jednadžbe stanja za proračunavanje faznih stanja ugljičnog dioksida kod njegova utiskivanja u ležišta naftnog polja Ivanić.Current annual oil production in Croatia on more than 30 oilfields, amounts to a little more than 0.5 million t per year. In the last 50 years, the realized oil recovery factor from the oil reservoirs has on average amounted to 32.6% of original oil in place. The currently favourable oil price increases the need for higher oil recovery from existing oilfields through the implementation of tertiary oil recovery methods. As for Croatia, a 3% increase in the oil recovery factor from current oil reservoirs, obtained due to the implementation of tertiary oil recovery methods, increases annual oil production by 15 000 t. Although tertiary oil recovery methods (EOR methods) are becoming more common worldwide, carbon dioxide injection in oil reservoirs is the most implemented EOR method. Based on the laboratory test results of the applications of tertiary oil recovery methods on oil reservoirs in Croatia, the carbon dioxide injection process was chosen as an appropriate method for increasing oil production on the Ivanić oil field. During the injection stage, carbon dioxide changes the state of the matter from liquid to gaseous or supercritical state. Unfortunately, the measured carbon dioxide injection results and laboratory test results differ. In situ measurements are very expensive and sometimes impractical; therefore, various approximations are taken into account with numerous equations of state. The aim was to approximate an equation of state on the measured data, for a wide range of p,T conditions, during a pilot project of carbon dioxide injection on the Ivanić oilfield reservoir. Among numerous cubic equations of state, van der Waals, Redlich-Kwong, Soave-Redlich-Kwong, Peng-Robinson, Valderrama-Cisternas, Patel-Teja, Lawal-Lake- Silberberg and Matin and Hou equation of state. After comprehensive comparisons and analysis of the values measured and calculated for a wide range of p,T conditions during carbon dioxide injection on the Ivanić oilfield, some of equations of state were recommended for determinations carbon dioxide changes of state

Toward a Long-Term Strategy of Economic Development of Croatia: Where to Begin, What to Do, and How to Do It?

This paper attempts to elaborate the main principles of an economic development strategy suitable for Croatia over the next 10–15 years. Based on brief analyses of advances made in development theory and policy and experiences of the emerging market economies in Asia, Latin America, and Central Europe, the paper identifies critical factors necessary for launching an accelerated process of economic development. These factors are: leadership commitment to economic development; the level and quality of social and human capital; application of modern (especially information) technology; stable and consistent macroeconomic policies; and efficient market-based institutions. The paper then analyses Croatia’s strengths and weaknesses in terms of these factors in comparison with a select group of economies: Slovenia, Hungary, the Czech Republic, Portugal, Ireland, Chile, Uruguay, Hong Kong and Singapore. In addition, the paper analyses implications of “new economy” developments in the United States and other advanced industrial countries for a small open economy like Croatia. Against this background, the paper proposes seven basic principles for elaborating a long-term strategy of Croatia’s economic development: (i) Setting a clear development goal—the paper proposes a doubling of real per capita GDP to US$10,000 in the next 10–15 years, which would require an average annual growth rate of about 5.5%, and that this growth rate is achievable; (ii) Ensuring transparency and equal access to development opportunities, as opposed to following specific industrial policy; (iii) Adjusting to globalisation of economic activity and absorbing “new economy” developments; (iv) Implementing fundamental reform of labour markets, with a view to reducing the high non-wage labour costs through pension and health care reforms; (v) Actively promoting financial market development by accelerating corporate and bank restructuring, and legal and judicial system reforms; (vi) Deciding on the economic role of the state in such areas as education, legal and judicial systems, market regulation, infrastructure, and science and technology; and (vii) Maintaining stable and consistent macroeconomic policies to facilitate structural reforms. The paper briefly discusses the main benefits and costs of a possible “euroisation” of Croatia’s economy, and arrangements for a possible transition from the current monetary and exchange rate regime, characterised by a high degree of factor and commodity price indexation to the Deutsche mark, toward a more flexible interim regime that would facilitate the eventual adoption of the euro and be consistent with the overall development strategy outlined.economic development, economic growth, new economic paradigm, globalisation, information technology, emerging market economies, transition economies, macroeconomic policies, industrial policy, corporate and bank restructuring, labour market reform, financial market development, exchange rate policy, eurisation.

Fiscal transparency from central banks’ perspective: off-budget activities and government asset funds

This paper reviews how central banks in emerging market countries assess fiscal positions, and discusses two aspects of fiscal transparency that have recently gained importance from central banks’ perspective: off-budget activities and special fiscal funds. By increasing uncertainty about the true fiscal position of the government, these activities are of concern both to central banks that set monetary policy on their own, taking fiscal policy as given, and to those that have adopted an institutional framework for coordinating monetary and fiscal policies.fiscal transparency, public sector accounts, off-budget activities, sovereign wealth funds, emerging market economies.