66,736 research outputs found
The impact of the global financial crisis on industry growth
© 2014 The Authors. The Manchester School published by The University of Manchester and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited and is not used for commercial purposes.This article has been made available through the Brunel Open Access Publishing Fund.This article investigates the real effects of the recent global financial crisis by using industry panel data across 82 countries. We find that industry growth indicators experienced a sharp drop following the crisis. However, a closer inspection indicates that an adverse effect is pronounced in industries that are more dependent on external finance, and also in those industries that rely on trade credit due to under-developed financial intermediation. It is also found that low- and lower-middle income countries tend to experience a lesser impact on growth. These findings provide new evidence of the negative externalities associated with credit-market friction
Journal Bearings
A plurality of bearing sectors are mounted in a housing. Each sector functions as a lobed area in the bearing to obtain the required lubricant film geometry
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Does market structure matter on banks' profitability and stability? Emerging versus advanced economies
We investigate the effects of market power, banking and bank-environment activities on profitability and stability (risk and returns) for a total of 1929 banks in 40 emerging and advanced economies over the sample period of 1999-2008. The model developed in this paper incorporates the traditional structure-conduct-performance (SCP) and the relative-market-power (RMP) hypotheses with the view to assessing the extent to which the bank performance can be attributed to non-competitive market conditions and pricing behaviour. The key findings are as follows; i) a greater market power leads to higher bank performance being biased toward the RMP hypothesis in advanced economies; ii) more concentrated banking systems in advanced economies may be more vulnerable to financial instability; iii) Neither of the hypotheses seems to be supported for the returns in the emerging banking sector; and iv) higher interest rate spreads increase profitability and stability for both types of economies, however, for emerging banks this seems to be one of the key elements to increase their profitability raising concerns on economies. Other interesting findings include that off-balance-sheet activities appear to present banks with a trade-off between risk and returns in advanced economies, and the effects of bank age, bank ownership status and regulation on risk and returns, depend on market power
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Tracking surface photovoltage dipole geometry in bi2se3 with time-resolved photoemission
Topological insulators have been shown to exhibit strong and long-lived surface photovoltages when excited by an infrared pump. The ability to generate long-lived potentials on these surfaces provides opportunities to manipulate the spin-momentum locked topological surface states. Moreover, the photo-induced nature of this effect allows for localized excitation of arbitrary geometries. Knowing precisely how these potentials form and evolve is critical in understanding how to manage the effect in applications. The uniqueness of the photoemission experimental geometry, in which the photoelectron must traverse the induced surface field in vacuum, provides an interesting probe of the electric dipole shape generated by the surface photovoltage. In this study, we are able to match the observed decay of the geometric effect on the photoelectron to an essential electrodynamics model of the light-induced dipole thereby tracking the fluence-dependent evolution of the dipole geometry. By utilizing a standard time-resolved angle-resolved photoemission experiment, we are able to determine real-space information of the dipole while simultaneously recovering time-resolved band structure
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