A Multivariate Analysis of Savings, Investment, and Growth in India

This paper considers per worker household, private corporate and public sector savings and investment, foreign capital inflows and economic growth for India in a multivariate setting for the period 1950-2001. The analysis, uses FIML to estimate the long run cointegrating equilibriums and short run Granger causing dynamics for the non-stationary time series data, which includes endogenously detected structural breaks in 1989 and 1993, consistent with the recent period of financial reforms in India. The estimates do not support the commonly accepted Solow and endogenous models of economic growth. The popular view that increases in savings are a necessary condition for economic growth is supported with the detected strong direct links from per worker household and private corporate savings to output in the long run and sectoral per worker savings to investment links in both the short and long run. This implies the need to encourage savings, which is being realised with the estimated significantly higher growth rates in household and private corporate per worker savings during deregulation in the late 1980s and early 1990s. However, the link from investment to output is missing. Despite extensive analysis, per worker private corporate and household sector investment are not found to affect output in the short run or long run as required by the Solow and endogenous growth models. Indeed household investment, being the largest sector for gross domestic capital formation, does not appear to have any influence on other variables. Per worker public investment is found to adversely affect output per worker in the short and long run, contradicting Barro’s hypothesis of the benefits of the public provision of capital. These findings, plus the estimated reductions in the rates of growth in sectoral per worker investment during the 1990s, are worrying. The lack of empirical validation of commonly accepted growth theories is p roblematic for policy formulation and further research on the role of investment in the post-reform Indian economy is required.Savings, investment, economic growth

Searching a systematics for nonfactorizable contributions to hadronic decays of D0 D^{0} and D+ D^{+} mesons

We investigate nonfactorizable contributions to charm meson decays in $D \rightarrow \bar K \pi$/ $\bar K \rho$ /$\bar K ^{*} \pi$ / $\bar K a_{1}$ / $\bar K ^{*} \rho$ modes. Obtaining the contributions from spectator-quark diagrams for $N_{c}$ = 3, we determine nonfactorizable isospin 1/2 and 3/2 amplitudes required to explain the data for these modes. We observe that ratio of these amplitudes seem to follow a universal value.Comment: 23 pages, Late

SIC1 is ubiquitinated in vitro by a pathway that requires CDC4, CDC34, and cyclin/CDK activities

Traversal from G1 to S-phase in cycling cells of budding yeast is dependent on the destruction of the S-phase cyclin/CDK inhibitor SIC1. Genetic data suggest that SIC1 proteolysis is mediated by the ubiquitin pathway and requires the action of CDC34, CDC4, CDC53, SKP1, and CLN/CDC28. As a first step in defining the functions of the corresponding gene products, we have reconstituted SIC1 multiubiquitination in DEAE-fractionated yeast extract. Multiubiquitination depends on cyclin/CDC28 protein kinase and the CDC34 ubiquitin-conjugating enzyme. Ubiquitin chain formation is abrogated in cdc4ts mutant extracts and assembly restored by the addition of exogenous CDC4, suggesting a direct role for this protein in SIC1 multiubiquitination. Deletion analysis of SIC1 indicates that the N-terminal 160 residues are both necessary and sufficient to serve as substrate for CDC34-dependent ubiquitination. The complementary C-terminal segment of SIC1 binds to the S-phase cyclin CLB5, indicating a modular structure for SIC1

Quantum mechanical study of molecules - Eigenvalues and eigenvectors of real symmetric matrices

Computer methods for calculating eigenvalue and eigenvectors of real symmetric matrices arising in problems of molecular quantum mechanic

Incompressible Turbulence as Nonlocal Field Theory

It is well known that incompressible turbulence is nonlocal in real space because sound speed is infinite in incompressible fluids. The equation in Fourier space indicates that it is nonlocal in Fourier space as well. Contrast this with Burgers equation which is local in real space. Note that the sound speed in Burgers equation is zero. In our presentation we will contrast these two equations using nonlocal field theory. Energy spectrum and renormalized parameters will be discussed.Comment: 7 pages; Talk presented in Conference on "Perspectives in Nonlinear Dynamics (PNLD 2004)" held in Chennai, 200

Current iodine status and progress over the last decade towards elimination of iodine deficiency in Rajkot District, Gujarat

Objective: To find out prevalence of goitre in primary school children; to compare prevalence with previous survey; to determine median urinary iodine concentration; to assess level of iodine in salt samples at household and retail shop level; and to study profile of salt sold at retail shops. Design & Settings: 30 cluster survey study in primary schools of Rajkot district. Subjects: Children studying in 1st to 7th standard. Methods: Total 70 students including five boys and five girls from 1st to 7th standard present in class on the day of visit were selected randomly for Goitre examination, so, total 2100 students were examined in schools. Urine sample was collected from one boy & one girl from each standard in each cluster. From community, 28 students including two boys and two girls from each standard in same age group were examined and also salt samples were tested from their households. From each village, one retail shop was visited and salts were purchased and tested for iodine on the spot with spot kit. Results: Goitre prevalence was found 8.8% among primary school children compare to 5.6% in 1999. As the age increases the Goitre prevalence also increases except in age group of 12 years. Median urinary iodine excretion level was found 110 µg/L. Iodine level >15 ppm was found in 81% salts samples tested at household level. Conclusion: Present study showed mild Goitre prevalence in primary school children in Rajkot district of Gujarat but still iodine content of salt found inadequate at household level