Visible success and invisible failure in post-crisis reform in the Republic of Korea : interplay of the global standards, agents, and local specificity

The reform package in post-crisis Korea was one of the most comprehensively designed and decisively implemented. Though impressed by the quick recovery, many are now raising doubts about real changes in the economy, as the result of a cost-benefits analysis: While the business climate is more stable and supportive, the economy is suffering from weak investment and rising unemployment. This study views the Korean story as one of"visible success and invisible failure,"based on the following findings: First, while some new laws were enacted and several quantifiable targets met, little real progress was made in changing institutional conventions, habits, and beliefs, such as enhancing transparency in management or trust in labor relations. Second, the reform process involved tension between global standards and local specificity, which accounts for the mixed results. Third, special interest politics at the implementation stage, plus the complexities caused by increasing democratization and globalization, have undermined the authorities'implementation capacity, which accounts for uneven outcomes of the reform. While globalization necessitates increasing flexibility, Korean managers are now facing much stronger labor unions. The outcome is not a fully flexible but segmented labor market, divided between the core, unionized workers and unorganized peripheral workers, and between the one overprotected and the other underprotected. Fourth, it is important to have an effective system of legislative bargaining to help resolve disputes. Only with this institutional vehicle will special interest groups reach some consensus. Korea tried to overhaul its financial system and achieve substantial financial liberalization in the early 1990s but those attempts were partly aborted and partly distorted, which paved the way for the financial crisis in 1997. This was due to the lack of clear consensus, without which reforms are more likely to be aborted or be unsuccessful. Fifth, implementation problems stem from institutional complementarities and inappropriate sequencing. One logical sequence might be banking reform, corporate governance, labor relations, and then finally business restructuring. Now, an emerging question is whether the reform blueprint was right. Post-crisis Korea just tried to be more market- or Anglo-Saxon model-oriented without paying attention to growth potential. While firms have now lowered their debt ratios, they are not borrowing to fund investments. The issue of right or wrong blueprint underscores the need to define the reform goal correctly. The goals of reform should not just be a move toward a market-oriented economy but toward a growth-oriented one or a pro-growth market-oriented one.Environmental Economics&Policies,Banks&Banking Reform,Children and Youth,Economic Theory&Research,National Governance

Direct observation of the spin polarization in Au atomic wires on Si(553)

The spin-resolved electronic band structure of Au-induced metallic atomic wires on a vicinal silicon surface, Si(553), was investigated using spin-and angle-resolved photoelectron spectroscopy. We directly measured the spin polarization of three partially filled one-dimensional metallic bands, a one-third-filled band, and the doublet of nearly half-filled bands. For the half-filled doublet, the strong apparent spin polarization was observed near the Fermi energy with a minor out-of-plane spin component. This observation is consistent with the Rashba-type spin-orbit splitting and with a recent experiment on a similar doublet of Si(557)-Au. In contrast, the one-third-filled band does not show a substantial spin polarization within the experimental accuracy, indicating a much smaller spin splitting, if any. These results are discussed for the origin of the partially filled bands and for the intriguing broken-symmetry ground state observed at low temperature.X11116sciescopu

Nearly Massless Electrons in the Silicon Interface with a Metal Film

We demonstrate the realization of nearly massless electrons in the most widely used device material, silicon, at the interface with a metal film. Using angle-resolved photoemission, we found that the surface band of a monolayer lead film drives a hole band of the Si inversion layer formed at the interface with the film to have nearly linear dispersion with an effective mass about 20 times lighter than bulk Si and comparable to graphene. The reduction of mass can be accounted for by repulsive interaction between neighboring bands of the metal film and Si substrate. Our result suggests a promising way to take advantage of massless carriers in silicon-based thin-film devices, which can also be applied for various other semiconductor devices.Comment: 4 pages, 4 figures, accepted for publication in Physical Review Letter

Resonant two-photon ionization and laser induced fluorescence spectroscopy of jet-cooled adenine

Resonant two-photon ionization (R2PI) and laser induced fluorescence (LIF) techniques were used to obtain the electronic spectra of the jet-cooled DNA base adenine. The spectrum consisted of two bands of the n??* and ????* characters. The vibronic mixing between the two states resulted in the broad absorption whose onset was located 1100 cm -1 above the n??* origin. The presence of these electronically states revealed the presence of vibronic mixing.open12813

Elevated intracellular cAMP exacerbates vulnerability to oxidative stress in optic nerve head astrocytes.

Glaucoma is characterized by a progressive loss of retinal ganglion cells and their axons, but the underlying biological basis for the accompanying neurodegeneration is not known. Accumulating evidence indicates that structural and functional abnormalities of astrocytes within the optic nerve head (ONH) have a role. However, whether the activation of cyclic adenosine 3',5'-monophosphate (cAMP) signaling pathway is associated with astrocyte dysfunction in the ONH remains unknown. We report here that the cAMP/protein kinase A (PKA) pathway is critical to ONH astrocyte dysfunction, leading to caspase-3 activation and cell death via the AKT/Bim/Bax signaling pathway. Furthermore, elevated intracellular cAMP exacerbates vulnerability to oxidative stress in ONH astrocytes, and this may contribute to axonal damage in glaucomatous neurodegeneration. Inhibition of intracellular cAMP/PKA signaling activation protects ONH astrocytes by increasing AKT phosphorylation against oxidative stress. These results strongly indicate that activation of cAMP/PKA pathway has an important role in astrocyte dysfunction, and suggest that modulating cAMP/PKA pathway has therapeutic potential for glaucomatous ONH degeneration

The Chiral Model of Sakai-Sugimoto at Finite Baryon Density

In the context of holographic QCD we analyze Sakai-Sugimoto's chiral model at finite baryon density and zero temperature. The baryon number density is introduced through compact D4 wrapping S^4 at the tip of D8-\bar{D8}. Each baryon acts as a chiral point-like source distributed uniformly over R^3, and leads a non-vanishing U(1)_V potential on the brane. For fixed baryon charge density n_B we analyze the bulk energy density and pressure using the canonical formalism. The baryonic matter with point like sources is always in the spontaneously broken phase of chiral symmetry, whatever the density. The point-like nature of the sources and large N_c cause the matter to be repulsive as all baryon interactions are omega mediated. Through the induced DBI action on D8-\bar{D8}, we study the effects of the fixed baryon charge density n_B on the pion and vector meson masses and couplings. Issues related to vector dominance in matter in the context of holographic QCD are also discussed.Comment: V3: 39 pages, 16 figures, minor corrections, version to appear in JHEP. V2: references added, typos correcte

Could Fractional Exhaled Nitric Oxide Test be Useful in Predicting Inhaled Corticosteroid Responsiveness in Chronic Cough? A Systematic Review

© 2016 Background Fractional exhaled nitric oxide (FENO) is a safe and convenient test for assessing T H 2 airway inflammation, which is potentially useful in the management of patients with chronic cough. Objective To summarize the current evidence on the diagnostic usefulness of FENO for predicting inhaled corticosteroid (ICS) responsiveness in patients with chronic cough. Methods A systematic literature review was conducted to identify articles published in peer-reviewed journals up to February 2015, without language restriction. We included studies that reported the usefulness of FENO (index test) for predicting ICS responsiveness (reference standard) in patients with chronic cough (target condition). The data were extracted to construct a 2 × 2 accuracy table. Study quality was assessed with Quality Assessment of Diagnostic Accuracy Studies 2. Results We identified 5 original studies (2 prospective and 3 retrospective studies). We identified considerable heterogeneities in study design and outcome definitions, and thus were unable to perform a meta-analysis. The proportion of ICS responders ranged from 44% to 59%. Sensitivity and specificity ranged from 53% to 90%, and from 63% to 97%, respectively. The reported area under the curve ranged from abou t 0.60 to 0.87; however, studies with a prospective design and a lower prevalence of asthma had lower area under the curve values. None measured placebo effects or objective cough frequency. Conclusions We did not find strong evidence to support the use of FENO tests for predicting ICS responsiveness in chronic cough. Further studies need to have a randomized, placebo-controlled design, and should use validated measurement tools for cough. Standardization would facilitate the development of clinical evidence