Capital flows to Central and Eastern Europe and the Former Soviet Union

The capital flows to Central and Eastern Europe and the Former Soviet Union (CEE/FSU) represent a relatively small, albeit growing share of capital flows to developing countries. Taking all flows together, the total net flows to these 25 countries (Albania, Armenia, Azerbaijan, Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Hungary, Kazakhstan, Kyrgyz Republic, Latvia, Lithuania, Macedonia, Moldova, Poland, Romania, Russia, Slovakia, Slovenia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan) were about $44 billion in 1996 or about 1/8 of aggregate net flows to all developing countries. These countries accounted, however, for about 20 and 22 percent respectively of all developing countries Gross Domestic Product (GDP) and exports in 1996. As a fraction of their GDP, total inflows were consequently smaller than for many other developing countries, and averaged about 5.4 percent over the 1990-96 periods. In more recent years, there has been a more rapid inflow of private capital, as reform efforts have consolidated and economic prospects improved and, for some countries, as European Union (EU) integration became a possibility for the near future. For some countries, short-term capital has recently become an important source of external financing. Since most countries have been late comers to the phenomenon of large private capital inflows, they have not experienced much of the overheating phenomena which have affected other developing countries in the past (Latin America) and recently (East Asia). The paper is organized as follows. Section IIbriefly describes the facts on capital flows to these countries. Section III discusses important links and relationships between macroeconomic variables and the capital flows, including some of the basic motivations, and causes for capital flows. Section IV describes and analyzes the policy framework and policy responses in those countries that received the bulk of capital flows. Econometric tests are presented in section V, while section VI discusses the issues which may be arising with capital flows in these countries in the future and provides some conclusions.Capital Markets and Capital Flows,Banks&Banking Reform,International Terrorism&Counterterrorism,Fiscal&Monetary Policy,Economic Theory&Research,Capital Flows,Banks&Banking Reform,Macroeconomic Management,Economic Theory&Research,Settlement of Investment Disputes

Inverse cascades and resonant triads in rotating and stratified turbulence

Kraichnan’s seminal ideas on inverse cascades yielded new tools to study common phenomena in geophysical turbulent flows. In the atmosphere and the oceans, rotation and stratification result in a flow that can be approximated as two-dimensional at very large scales but which requires considering three-dimensional effects to fully describe turbulent transport processes and non-linear phenomena. Motions can thus be classified into two classes: fast modes consisting of inertia-gravity waves and slow quasi-geostrophic modes for which the Coriolis force and horizontal pressure gradients are close to balance. In this paper, we review previous results on the strength of the inverse cascade in rotating and stratified flows and then present new results on the effect of varying the strength of rotation and stratification (measured by the inverse Prandtl ratio N/f, of the Coriolis frequency to the Brunt-Väisäla frequency) on the amplitude of the waves and on the flow quasi-geostrophic behavior. We show that the inverse cascade is more efficient in the range of N/f for which resonant triads do not exist, /2≤N/f≤21/2≤N/f≤2. We then use the spatio-temporal spectrum to show that in this range slow modes dominate the dynamics, while the strength of the waves (and their relevance in the flow dynamics) is weaker.Fil: Oks, D.. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Departamento de Física; ArgentinaFil: Mininni, Pablo Daniel. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Ciudad Universitaria. Instituto de Física de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Instituto de Física de Buenos Aires; ArgentinaFil: Marino, R.. Universite Lyon 2; FranciaFil: Pouquet, A.. State University of Colorado Boulder; Estados Unido

The UW solution for canine kidney preservation: Its specific effect on renal hemodynamics and microvasculature

The preservation effects of UW solution on renal hemodynamics and microvascular systems were studied in canine kidney autografts. In 72-hr UW-preserved kidneys, the microvessels of both cortex and medulla were completely visualized with silicon rubber compound 1 hr after reperfusion. Histology also showed extremely well-preserved arterioglomerular and tubular systems. These results were correlated with good renal blood flow, prompt recovery of posttransplant graft function, and 100% two-week survival of dogs. In contrast, kidneys preserved for 72 hr with Euro-Collins solution showed necrotic and obstructive changes of the microvasculature and deterioration of renal hemodynamics. In 120-hr UW-preserved kidneys, the microcirculation of the medullary region became poor after reflow when there was fairly intact perfusion of the cortical region, indicating an ischemia-related intrarenal blood flow maldistribution. The 120-hr kidneys subsequently failed in spite of having a good blood flow and morphologically well-maintained microvasculature after reperfusion. These data demonstrated that much, but not all, of the beneficial effect of UW solution in kidney preservation might be attributed to its remarkable protection of renal microvasculature. Correction of intrarenal blood maldistribution caused by a discrepancy in tolerance to ischemia of the vascular and tubular systems might be important in successfully preserving the kidney for 120 hr. © 1989 by Williams & Wilkins

Induction of graft acceptance after dog kidney or liver transplantation

We have reported that, a short delayed course of intramuscular FK 506 can induce a,donor strain-specific immunologic unresponsiveness to cardiac allograft in rats.1 Further studies have been performed to determine if this agent can induce graft acceptance after canine renal (KT) or hepatic (OLT) allotransplantation. Preliminary descriptions of these efforts have been published.

Parameters of the beam plasma formed by a forevacuum plasma source of a ribbon beam in zero-field transportation system

We have studied the generation of the beam plasma formed by a forevacuum plasma source of a ribbon electron beam in the conditions of its transportation without an accompanying magnetic field. The ignition conditions in the beam transportation region of the beam–plasma discharge producing a plasma formation of the plasma sheet type with a plasma concentration of ~1016 m–3 and an electron temperature of 1–2.5 eV have been determined. The attained values of parameters and the sizes of the plasma formation make it possible to use it in technologies of the surface modification of planar extended articles

Aquarius iPhone Application

The Office of the CIO at JPL has developed an iPhone application for the Aquarius/SAC-D mission. The application includes specific information about the science and purpose of the Aquarius satellite and also features daily mission news updates pulled from sources at Goddard Space Flight Center as well as Twitter. The application includes a media and data tab section. The media section displays images from the observatory, viewing construction up to the launch and also includes various videos and recorded diaries from the Aquarius Project Manager. The data tab highlights many of the factors that affect the Earth s ocean and the water cycle. The application leverages the iPhone s accelerometer to move the Aquarius Satellite over the Earth, revealing these factors. Lastly, this application features a countdown timer to the satellite s launch, which is currently counting the days since launch. This application was highly successful in promoting the Aquarius Mission and educating the public about how ocean salinity is paramount to understanding the Earth