Measuring Spillovers from Alternative Forms of Foreign Investment

Much of the endogenous growth literature has dwelled on evaluating the spillover effects of trade on growth, but much less efforts have been directed towards tracing and quantifying the spillover effects of foreign investments. This paper, in incorporating the effects of various types of foreign investments, namely foreign direct investment (FDI), foreign portfolio investment (FPI) and other foreign investment (OFI) fills this gap in the literature. Adopting the stochastic frontier approach, this paper constructs an OECD frontier based on a panel dataset of 20 OECD countries over the 1981-2000 period. Spillover effects of FDI, FPI, OFI and trade are gauged by their respective contributions towards reducing technical inefficiencies, which are represented by the distance of each country from the constructed frontier. Results from the multiple models examined in the paper indicate that inflows of foreign investment and trade have been instrumental in reducing inefficiencies across OECD countries, whereas outflows of foreign investment exacerbate inefficiencies. The study also confirms some previous findings that the spillover effects of FDI inflows are larger than that of trade but does not find evidence in favour of the view that the spillover effects of trade are overestimated when FDI flows are excluded from the analysis. Moreover, the impact of FDI inflows is larger than those of FPI and OFI inflows. The importance of absorptive capacities of host economies in capturing spillover gains from FDI inflows is also examined. Amongst the various measures of absorptive capacity considered, only human capital was found to be important.

Measuring Efficiency externalities from Trade and Alternative Forms of Foreign Investment

The literature has concentrated on evaluating technological spillovers from trade and inflows of foreign direct investment (FDI). Little effort has been directed towards identifying efficiency externalities arising from international linkages. We evaluate these for a sample of 20 OECD countries between 1982 and 2000 using a stochastic frontier approach. The analysis includes trade, inflows and outflows of FDI, foreign portfolio investment (FPI), and other foreign investment (OFI), and a measure of the absorptive capacities of host economies. We find trade and all foreign investment inflows to lead to increased efficiency. Outflows of FDI are found to exacerbate inefficiency.

Near-infrared light increases ATP, extends lifespan and improves mobility in aged Drosophila melanogaster.

Ageing is an irreversible cellular decline partly driven by failing mitochondrial integrity. Mitochondria accumulate DNA mutations and reduce ATP production necessary for cellular metabolism. This is associated with inflammation. Near-infrared exposure increases retinal ATP in old mice via cytochrome c oxidase absorption and reduces inflammation. Here, we expose fruitflies daily to 670 nm radiation, revealing elevated ATP and reduced inflammation with age. Critically, there was a significant increase in average lifespan: 100-175% more flies survived into old age following 670 nm exposure and these had significantly improved mobility. This may be a simple route to extending lifespan and improving function in old age

To unite or divide: mitochondrial dynamics in the murine outer retina that preceded age related photoreceptor loss

Mitochondrial function declines with age and is associated with age-related disorders and cell death. In the retina this is critical as photoreceptor energy demands are the greatest in the body and aged cell loss large (~30%). But mitochondria can fuse or divide to accommodate changing demands. We explore ageing mitochondrial dynamics in young (1 month) and old (12 months) mouse retina, investigating changes in mitochondrial fission (Fis1) and fusion (Opa1) proteins, cytochrome C oxidase (COX III), which reflects mitochondrial metabolic status, and heat shock protein 60 (Hsp60) that is a mitochondrial chaperon for protein folding.Western blots showed each protein declined with age. However, within this, immunostaining revealed increases of around 50% in Fis1 and Opa1 in photoreceptor inner segments (IS). Electron microscope analysis revealed mitochondrial fragmentation with age and marked changes in morphology in IS, consistent with elevated dynamics. COX III declined by approximately 30% in IS, but Hsp60 reductions were around 80% in the outer plexiform layer.Our results are consistent with declining mitochondrial metabolism. But also with increased photoreceptor mitochondrial dynamics that differ from other retinal regions, perhaps reflecting attempts to maintain function. These changes are the platform for age related photoreceptor loss initiated after 12 months

INTEGRATING BIOMASS TO PRODUCE HEAT AND POWER AT ETHANOL PLANTS

Published in: Applied Engineering in Agriculture, Vol. 25(2): 227‐244Biomass, Renewable, Sustainable, Model, Gasification, Combustion, Emissions, Ethanol production, Combined heat and power, Resource /Energy Economics and Policy,

ECONOMICS OF BIOMASS GASIFICATION/COMBUSTION AT FUEL ETHANOL PLANTS

Published in Applied Engineering in Agriculture, Vol. 25(3): 391‐400Ethanol, Biomass, Economics, CHP, Emissions, Process heat, Electricity production, Resource /Energy Economics and Policy,

Few-electron quantum dots in III-V ternary alloys: role of fluctuations

We study experimentally the electron transport properties of gated quantum dots formed in InGaAs/InP and InAsP/InP quantum well structures grown by chemical-beam epitaxy. For the case of the InGaAs quantum well, quantum dots form directly underneath narrow gate electrodes due to potential fluctuations. We measure the Coulomb-blockade diamonds in the few-electron regime of a single quantum dot and observe photon-assisted tunneling peaks under microwave irradiation. A singlet-triplet transition at high magnetic field and Coulomb-blockade effects in the quantum Hall regime are also observed. For the InAsP quantum well, an incidental triple quantum dot forms also due to potential fluctuations within a single dot layout. Tunable quadruple points are observed via transport measurements.Comment: 3.3 pages, 3 figures. Added two new subfigures, new references, and improved the tex

The Internationalization of Real Estate Research

The contributions of international researchers and institutions to real estate literature for the 1990 to 2006 period are assessed. Both the Asia-Pacific and European regions increase their influence on the top tier of real estate literature. The North American region, while still the dominant source of real estate research, sees its weighted share of publications in the top tier of academic real estate journals decline. Universities from Singapore, Hong Kong, Australia, the United Kingdom, Sweden, and the Netherlands are leaders in their respective regions. Individual researchers domiciled outside of North America are also gaining influence, but few individuals rank high when compared to North American authors. It is anticipated that these trends will continue given the global growth in real estate as an asset class, the importance of real estate investment in countries posting substantial economic growth, and the allocation of resources and human capital within these growing regions to real estate research.

The visibility study of S-T+_+ Landau-Zener-St\"uckelberg oscillations without applied initialization

Probabilities deduced from quantum information studies are usually based on averaging many identical experiments separated by an initialization step. Such initialization steps become experimentally more challenging to implement as the complexity of quantum circuits increases. To better understand the consequences of imperfect initialization on the deduced probabilities, we study the effect of not initializing the system between measurements. For this we utilize Landau-Zener-St\"uckelberg oscillations in a double quantum dot circuit. Experimental results are successfully compared to theoretical simulations.Comment: 8 pages, 5 figure

A Tuneable Few Electron Triple Quantum Dot

In this paper we report on a tuneable few electron lateral triple quantum dot design. The quantum dot potentials are arranged in series. The device is aimed at studies of triple quantum dot properties where knowing the exact number of electrons is important as well as quantum information applications involving electron spin qubits. We demonstrate tuning strategies for achieving required resonant conditions such as quadruple points where all three quantum dots are on resonance. We find that in such a device resonant conditions at specific configurations are accompanied by novel charge transfer behaviour.Comment: 11 pages, 4 figure