Capital mobility, balance of payments constraints, and economic growth: an empirical dynamic analysis

This paper analyses empirically the relationship between economic growth and the openness of the financial account of the balance of payments. It takes into consideration the balance of payments’ constrained growth, as well as the difficulties in the empirical literature in measuring capital mobility. Starting from the capital mobility index we estimate a panel across 80 countries, both developed and developing between 1997-2003. Results suggest that more capital mobility in developing countries affects growth negatively, whereas it possibly stimulates growth in developed countries.Economic Growth, Capital Mobility, Dynamic Panel

Noether's Symmetry Theorem for Variational and Optimal Control Problems with Time Delay

We extend the DuBois-Reymond necessary optimality condition and Noether's symmetry theorem to the time delay variational setting. Both Lagrangian and Hamiltonian versions of Noether's theorem are proved, covering problems of the calculus of variations and optimal control with delays.Comment: This is a preprint of a paper whose final and definite form will appear in the international journal Numerical Algebra, Control and Optimization (NACO). Paper accepted for publication 15-March-201

Fractal universe and quantum gravity

We propose a field theory which lives in fractal spacetime and is argued to be Lorentz invariant, power-counting renormalizable, ultraviolet finite, and causal. The system flows from an ultraviolet fixed point, where spacetime has Hausdorff dimension 2, to an infrared limit coinciding with a standard four-dimensional field theory. Classically, the fractal world where fields live exchanges energy momentum with the bulk with integer topological dimension. However, the total energy momentum is conserved. We consider the dynamics and the propagator of a scalar field. Implications for quantum gravity, cosmology, and the cosmological constant are discussed.Comment: 4 pages. v2: typos corrected; v3: discussion improved, intuitive introduction added, matches the published versio

Pion and Kaon dissociation in hot quark medium

Pion and kaon dissociation in a medium of hot quark matter is studied in the Nambu Jona-Lasinio model. The decay width of pion and kaon are found to be large but finite at temperatures much higher than the so called critical temperature of chiral or deconfinement transition, kaon decay width being larger. Consequently, pions and even kaons (with a lower density compared to pions) should coexist with quarks and gluons at such high temperatures. The implication of the above result in the study of Quark-Gluon plasma is discussed.Comment: Latex file with one postscript fil

Splitting of the pi - rho spectrum in a renormalized light-cone QCD-inspired model

We show that the splitting between the light pseudo-scalar and vector meson states is due to the strong short-range attraction in the ^1S_0 sector which makes the pion and the kaon light particles. We use a light-cone QCD-inspired model of the mass squared operator with harmonic confinement and a Dirac-delta interaction. We apply a renormalization method to define the model, in which the pseudo-scalar ground state mass fixes the renormalized strength of the Dirac-delta interaction.Comment: 9 pages, 2 figures, revtex, accepted by Phys. Rev. D; Corrected typo

Structure of exotic three-body systems

The classification of large halos formed by two identical particles and a core is systematically addressed according to interparticle distances. The root-mean-square distances between the constituents are described by universal scaling functions obtained from a renormalized zero-range model. Applications for halo nuclei, $^{11}$Li and $^{14}$Be, and for atomic $^4$He$_3$ are briefly discussed. The generalization to four-body systems is proposed.Comment: Contribution to the International workshop "Critical Stability of Few-Body Quantum Systems". To be published in "Few-Body Systems

Mobilidade de Capitais e Crescimento Econômico: Uma Análise Empírica Dinâmica com Dados em Painel

O presente trabalho objetiva analisar empiricamente as relações entre crescimento econômico e abertura da conta financeira do balanço de pagamentos, tendo como lementos centrais a restrição imposta pelo Balanço de Pagamentos ao crescimento econômico, bem como s dificuldades associadas à mensuração da mobilidade de capitais. A partir da utilização de indicadores alternativos para a mobilidade de capitais é empreendido um estudo em painel para 80 países em diferentes estágios de desenvolvimento no período 1979-2003. Os resultados sugerem que maior abertura aos fluxos de capitais nos países em desenvolvimento têm efeitos negativos sobre o crescimento econômico, embora possam estimular o crescimento em países desenvolvidos.Crescimento Econômico, Mobilidade de Capitais, Painel Dinâmico