Credit's effect on productivity in Chinese agriculture : a microeconomic model of disequilibrium

Many government programs want to provide more credit to the farm sector to increase agricultural productivity. If the marginal effect on productivity is small, those resources might be put to better use elsewhere. The authors conducted an econometric analysis of the effect of credit on output supply which recognizies that credit markets are not necessarily at equilibrium - so that credit rationing and nonborrowing are both possible. Only about 37 percent of the farmers in the study area were constrained by inadequate formal credit. Informal credit sources provided funds for specific non-agricultural activities that were not fungible. The results indicate that one additional yuan of liquidity yielded 0.235 yuan of additional gross value of output. These results suggest that for the area of China covered in the study, a good part of the short-term credit may actually be used for consumption and investment. Two conclusions are suggested for evaluating the probable effect of expanding agricultural credit. First, not all farmers, and sometimes only a minority, are constrained in their farming operations by inadequate credit. And second, greater supplies of formal credit will be diverted in part to consumption, so the likely effect on output will be smaller than what one might expect if all funds are assumed to be used productively.Banks&Banking Reform,Financial Intermediation,International Terrorism&Counterterrorism,Economic Theory&Research,Environmental Economics&Policies

Endogenous structural transformation in economic development

This paper proposes a framework to model how a country develops its economy by endogenous structural transformation and efficient resource allocation in a market mechanism. To achieve this goal, the paper first summarizes three attributes of economic structures from the literature, namely, structurality, durationality, and transformality, and discuss their implications for methods of economic modeling. Then, with the common knowledge assumption, the paper studies a Ramsey growth model with endogenous structural transformation in which the social planner chooses the optimal industrial structure, recource allocation with the chosen structure, and consumption to maximize the representative household's total utility subject to the resource constraint. The paper next establishes the mathematical underpinning of the static, dynamic, and structural equilibria. The Ramsey growth model and its equilibria are then extended to economies with complicated economic structures consisting of hierarchical production, composite consumption, technology adoption and innovation, infrastructure, and economic and political institutions. The paper concludes with a brief discussion of applications of the proposed methodology to economic development problems in other scenarios.Comment: 43 pages, 0 figure

The Effects of Urban Public Transit Investment on Traffic Congestion and Air Quality

Traffic congestion is ubiquitous across urban roadways, and the adverse health effects accompanying deteriorating air quality are an ongoing concern. Beyond these local effects, transportation is also a major contributor of greenhouse gas emissions and is thus a significant element of the climate change debate. A contentious issue currently confronting transportation analysts and policy-makers is what the effects of public transit investment on traffic congestion and on air quality are and therefore what the appropriate level of public transit investment should be. While public transit receives plenty of political support for its “green” reputation and its contribution to sustainability, there have been relatively few studies examining the ex post–effects of public transit investment on traffic congestion or air quality. In this chapter, we review our theoretical and empirical research on the effects of public transit investment on congestion, the demand for automobile travel, and air quality

Explaining Africa\u27s (Dis)Advantage

Africa’s economic performance has been widely viewed with pessimism. In this paper, firm-level data for around 80 countries are used to examine formal firm performance. Without controls, manufacturing African firms perform significantly worse than firms in other regions. They have lower productivity levels and growth rates, export less, and have lower investment rates. Once geography, political competition, and the business environment are controlled for, formal African firms lead in productivity levels and growth. Africa’s conditional advantage is higher in low-tech than in high-tech manufacturing, and exists in manufacturing but not in services. The key factors explaining Africa’s disadvantage at the firm level are lack of infrastructure, access to finance, and political competition

Modified Coaxial Probe Feeds for Layered Antennas

In a modified configuration of a coaxial probe feed for a layered printed-circuit antenna (e.g., a microstrip antenna), the outer conductor of the coaxial cable extends through the thickness of at least one dielectric layer and is connected to both the ground-plane conductor and a radiator-plane conductor. This modified configuration simplifies the incorporation of such radio-frequency integrated circuits as power dividers, filters, and low-noise amplifiers. It also simplifies the design and fabrication of stacked antennas with aperture feeds

Deployable antenna

A deployable antenna and method for using wherein the deployable antenna comprises a collapsible membrane having at least one radiating element for transmitting electromagnetic waves, receiving electromagnetic waves, or both

Directional microwave applicator and methods

A miniature microwave antenna is disclosed which may be utilized for biomedical applications such as, for example, radiation induced hyperthermia through catheter systems. One feature of the antenna is that it possesses azimuthal directionality despite its small size. This directionality permits targeting of certain tissues while limiting thermal exposure of adjacent tissue. One embodiment has an outer diameter of about 0.095'' (2.4 mm) but the design permits for smaller diameters

Fabric circuits and method of manufacturing fabric circuits

A flexible, fabric-based circuit comprises a non-conductive flexible layer of fabric and a conductive flexible layer of fabric adjacent thereto. A non-conductive thread, an adhesive, and/or other means may be used for attaching the conductive layer to the non-conductive layer. In some embodiments, the layers are attached by a computer-driven embroidery machine at pre-determined portions or locations in accordance with a pre-determined attachment layout before automated cutting. In some other embodiments, an automated milling machine or a computer-driven laser using a pre-designed circuit trace as a template cuts the conductive layer so as to separate an undesired portion of the conductive layer from a desired portion of the conductive layer. Additional layers of conductive fabric may be attached in some embodiments to form a multi-layer construct

Making Complex Electrically Conductive Patterns on Cloth

A method for automated fabrication of flexible, electrically conductive patterns on cloth substrates has been demonstrated. Products developed using this method, or related prior methods, are instances of a technology known as 'e-textiles,' in which electrically conductive patterns ar formed in, and on, textiles. For many applications, including high-speed digital circuits, antennas, and radio frequency (RF) circuits, an e-textile method should be capable of providing high surface conductivity, tight tolerances for control of characteristic impedances, and geometrically complex conductive patterns. Unlike prior methods, the present method satisfies all three of these criteria. Typical patterns can include such circuit structures as RF transmission lines, antennas, filters, and other conductive patterns equivalent to those of conventional printed circuits. The present method overcomes the limitations of the prior methods for forming the equivalent of printed circuits on cloth. A typical fabrication process according to the present method involves selecting the appropriate conductive and non-conductive fabric layers to build the e-textile circuit. The present method uses commercially available woven conductive cloth with established surface conductivity specifications. Dielectric constant, loss tangent, and thickness are some of the parameters to be considered for the non-conductive fabric layers. The circuit design of the conductive woven fabric is secured onto a non-conductive fabric layer using sewing, embroidery, and/or adhesive means. The portion of the conductive fabric that is not part of the circuit is next cut from the desired circuit using an automated machine such as a printed-circuit-board milling machine or a laser cutting machine. Fiducials can be used to align the circuit and the cutting machine. Multilayer circuits can be built starting with the inner layer and using conductive thread to make electrical connections between layers