7,700 research outputs found
The Financial Deepening-Productivity Nexus in China: 1987-2001
The financial intermediation-growth nexus is a widely studied topic in the literature of development economics. Deepening financial intermediation may promote economic growth by mobilizing more investments, and lifting returns to financial resources, which raises productivity. Relying on provincial panel data from China, this paper attempts to examine if regional productivity growth is accounted for by the deepening process of financial development. Towards this end, an appropriate measurement of financial depth is constructed and then included as a determinant of productivity growth. It finds that a significant and positive nexus exists between financial deepening and productivity growth. Given the divergent pattern of financial deepening between coastal and inland provinces, this finding also helps explain the rising regional disparity in China.growth, financial development, productivity, China
Inducing Effect on the Percolation Transition in Complex Networks
Percolation theory concerns the emergence of connected clusters that
percolate through a networked system. Previous studies ignored the effect that
a node outside the percolating cluster may actively induce its inside
neighbours to exit the percolating cluster. Here we study this inducing effect
on the classical site percolation and K-core percolation, showing that the
inducing effect always causes a discontinuous percolation transition. We
precisely predict the percolation threshold and core size for uncorrelated
random networks with arbitrary degree distributions. For low-dimensional
lattices the percolation threshold fluctuates considerably over realizations,
yet we can still predict the core size once the percolation occurs. The core
sizes of real-world networks can also be well predicted using degree
distribution as the only input. Our work therefore provides a theoretical
framework for quantitatively understanding discontinuous breakdown phenomena in
various complex systems.Comment: Main text and appendices. Title has been change
Number-resolved master equation approach to quantum transport under the self-consistent Born approximation
We construct a particle-number(n)-resolved master equation (ME) approach
under the self-consistent Born approximation (SCBA) for quantum transport
through mesoscopic systems. The formulation is essentially non-Markovian and
incorporates the interlay of the multi-tunneling processes and many-body
correlations. The proposed n-SCBA-ME goes completely beyond the scope of the
Born-Markov master equation, being applicable to transport under small bias
voltage, in non-Markovian regime and with strong Coulomb correlations. For
steady state, it can recover not only the exact result of noninteracting
transport under arbitrary voltages, but also the challenging nonequilibrium
Kondo effect. Moreover, the n-SCBA-ME approach is efficient for the study of
shot noise.We demonstrate the application by a couple of representative
examples, including particularly the nonequilibrium Kondo system.Comment: arXiv admin note: substantial text overlap with arXiv:1302.638
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