An Empirical and Theoretical Study on the Wider Use of Local Currencies in the Asia-Pacific Region after the Asian Financial and Currency Crisis : An analysis focused on Thailand

The Asian financial and currency crisis triggered a significant change to the currency composition of private liabilities in Thailand. Namely, the Thai private sector switched the denominations from the US dollar to the yen and at a larger percentage to the home currency (the Thai baht). The private sectors elsewhere in the Asia-Pacific region also switched from the US dollar to home currencies. Japanese banks resident in Thailand increased their local claims in the Thai baht; Japanese banks also increased the share of local currencies elsewhere in the Asia-Pacific region; and the same is true with the non-Japanese banks as they increased the share of local currencies in the region. Countries in the region examined the crisis and their heavy dependency on the US dollar. Their currency switch can be construed as a movement away from that dependency. The author believes that such a movement should not be temporary, but should firmly take root.Asian, financial crisis, currency crisis, local currencies, Thailand

Evolutionary Conditions in the Dissipative MHD System Revisited

The evolutionary conditions for the dissipative continuous magnetohydrodynamic (MHD) shocks are studied. We modify Hada's approach in the stability analysis of the MHD shock waves. The matching conditions between perturbed shock structure and asymptotic wave modes shows that all types of the MHD shocks, including the intermediate shocks, are evolutionary and perturbed solutions are uniquely defined. We also adopt our formalism to the MHD shocks in the system with resistivity without viscosity, which is often used in numerical simulation, and show that all types of shocks that are found in the system satisfy the evolutionary condition and perturbed solutions are uniquely defined. These results suggest that the intermediate shocks may appear in reality.Comment: 13 pages, 4 figures, accepted for publication in Prog. Theor. Phy

Electrically controlled superconducting states at the heterointerface SrTiO3_3/LaAlO3_3

We study the symmetry of Cooper pair in a two-dimensional Hubbard model with the Rashba-type spin-orbit interaction as a minimal model of electron gas generated at a heterointerface of SrTiO$_3$/LaAlO$_3$. Solving the Eliashberg equation based on the third-order perturbation theory, we find that the gap function consists of the mixing of the spin-singlet $d_{xy}$-wave component and the spin-triplet $(p_x\pm ip_y)$-wave one due to the broken inversion symmetry originating from the Rashba-type spin-orbit interaction. The ratio of the d-wave and the p-wave component continuously changes with the carrier concentration. We propose that the pairing symmetry is controlled by tuning the gate voltage.Comment: 4 pages, 4 figures; added reference