Implementing the market approach to enterprise support - an evaluation of ten matching grant schemes

Developing viable new business is critical to recovery, and long-term growth, especially in transition economies. There has been a long history of public support of enterprise development, starting with centralized state agency initiatives, but moving more recently to decentralized instruments for development of the business services market. The window of time during which the benefits of intervention are likely to be greatest: when a market is in its infancy, and its development is constrained by uncertainty, and lack of information. Interventions for enterprise support should be demand-responsive, and flexibly organized. In some circumstances, centralized assistance may still be effective, but it is generally better to use competitive private service providers responding to enterprises'changing needs. The main task is to stimulate the private services sector, improving its capacity to respond to the demands of new, and expanding private enterprises. Support for enterprises has tended to be either free, or heavily subsidized. But such subsidies can be justified only if interventions efficiently supply goods. Providing technical, and management know-how can be a public good if it generates externalities- if, for example, know-how benefits can be disseminated at proportionately low additional cost. Any subsidy for an intervention should be temporary, and should be phased out when the main objective of intervention is achieved - that is, when the market takes off. Grants should generally be for know-how, not for equipment. There may be a case for unbundling the know-how component of loans (including feasibility studies, and follow-up expert services) for grant funding. A package combining loans and grants - through a single financial institution, or through separate institutions - may work provided safeguards can be put in place to prevent perverse use of grants. The matching grant model, which is used increasingly in the World Bank, and elsewhere, is one solution - but it must be justified, and carefully designed. After evaluating ten matching grant funds, the author concludes that performance is mixed. Best practice models are needed. Ensuring economic benefits requires proactive management, with clear objectives of market facilitation ("making a market"). And it requires a balance between rapid grant approval procedures, and careful selection of services for grants.Economic Theory&Research,Decentralization,Enterprise Development&Reform,Environmental Economics&Policies,Banks&Banking Reform,Health Economics&Finance,Banks&Banking Reform,Economic Theory&Research,Environmental Economics&Policies,ICT Policy and Strategies

Technique for pinpointing submicron particles in the electron microprobe

Series of electron micrographs at successively lower magnifications can localize the substrate area sufficiently for a particle to be picked up by the beam of the electron microprobe. This approach could be modified to apply to fractographic studies, particularly of oxidation products stripped from fractures

A survey of the UK benefit system

This paper describes all the main benefits in the UK system, giving details of rates and allowances, as well as numbers and types of claimants and levels of expenditure

Holddown arm release mechanism used on Saturn vehicles

With the development of the Saturn launch vehicle, it became mandatory to develop a system for restraining the vehicle until after all checks and engine thrust buildup were completed. The basic Saturn I holddown arm constrains the vehicle by clamping it between a fixed support and a movable jaw. The jaw is on a link pinned to rotate sufficiently to release the vehicle. There are three links in the jaw (restraining) system arranged so that with a small force provided by a pneumatic separator mechanism, the large loads of the vehicle can be restrained. Design details discussed are the link system, the separator, adjustments, and the energy absorber. The function of preloading is discussed. The secondary release system is described. Finally, the design differences between the Saturn I and the Saturn V arm are described

GC-selective DNA-binding antibiotic, Mithramycin A, reveals multiple points of control in the regulation of Hdm2 protein synthesis

The primary role of the Hdm2/Mdm2 oncoprotein is to regulate the levels and activity of the transcription factor p53. Hdm2 synthesis is itself tightly controlled and, as demonstrated by a recently described SNP (SNP309) in the hdm2-P2 promoter, minor variations in Hdm2 expression have phenotypic consequences on radiation sensitivity and cancer predisposition. To further define mechanisms regulating Hdm2 expression, we have investigated the effects of the GC-selective DNA-binding drug, Mithramycin A (MA) on hdm2 mRNA transcription, trafficking, and translation. Firstly we show that the constitutive hdm2-P1 promoter is inhibited by MA. We define, for the first time, the minimal sequence elements that are required for P1-promoter activity and identify those which confer MA sensitivity. Secondly, MA induces p53-dependent transcription from the hdm2-P2 promoter. Thirdly, and critically, MA also inhibits Hdm2 synthesis at the post-transcriptional level, with negative effects on hdm2 mRNA nuclear export and translation. This study highlights the complex interplay between the pathways that regulate Hdm2 protein synthesis in cancer cells, and furthermore emphasizes the export of hdm2 mRNA from the nucleus to the cytoplasm as a key point of control in this process.<br/><br/