The Determinants of Foreign Direct Investment in Transition Economies

Using a panel dataset containing information on FDI flows from market to transition economies, we establish the determinants of FDI inflows to Central and Eastern Europe: country risk, unit labour costs, host market size and gravity factors. In turn, we find country risk to be influenced by private sector development, industrial development, the government balance, reserves and corruption. By introducing structural shift dummy variables for key announcements of progress in EU accession we show that announcements have impacted directly upon FDI receipts but have not influenced country credit ratings. The Agenda 2000 announcement by the European Commission induced a bifurcation between the 'first wave' transition countries and the remainder of our sample. The underlying dynamics of the process illustrate that increases in FDI improve country credit ratings with a lag, hence increasing future FDI receipts. Consequently we suggest that the accession progress has the potential to induce virtuous cycles for the frontrunners but may have serious consequences for the accession laggards.http://deepblue.lib.umich.edu/bitstream/2027.42/39726/3/wp342.pd

Counting Dyck paths by area and rank

The set of Dyck paths of length $2n$ inherits a lattice structure from a bijection with the set of noncrossing partitions with the usual partial order. In this paper, we study the joint distribution of two statistics for Dyck paths: \emph{area} (the area under the path) and \emph{rank} (the rank in the lattice). While area for Dyck paths has been studied, pairing it with this rank function seems new, and we get an interesting $(q,t)$-refinement of the Catalan numbers. We present two decompositions of the corresponding generating function: one refines an identity of Carlitz and Riordan; the other refines the notion of $\gamma$-nonnegativity, and is based on a decomposition of the lattice of noncrossing partitions due to Simion and Ullman. Further, Biane's correspondence and a result of Stump allow us to conclude that the joint distribution of area and rank for Dyck paths equals the joint distribution of length and reflection length for the permutations lying below the $n$-cycle $(12...n)$ in the absolute order on the symmetric group.Comment: 24 pages, 7 figures. Connections with work of C. Stump (arXiv:0808.2822v2) eliminated the need for 5 pages of proof in the first draf

Reforming Public School Systems Through Sustained Union-Management Collaboration

Presents case studies of sustained collaboration between teachers' unions and management in school reform; common elements in initiating events, strategic priorities, supportive system infrastructure, and sustaining factors; and lessons learned

A Nonlinear Coupling Network to Simulate the Development of the r-mode Instablility in Neutron Stars I. Construction

R-modes of a rotating neutron star are unstable because of the emission of gravitational radiation. We explore the saturation amplitudes of these modes determined by nonlinear mode-mode coupling. Modelling the star as incompressible allows the analytic computation of the coupling coefficients. All couplings up to n=30 are obtained, and analytic values for the shear damping and mode normalization are presented. In a subsequent paper we perform numerical simulations of a large set of coupled modes.Comment: 15 pages 3 figure

The Determinants of Foreign Direct Investment in Transition Economies

Using a panel dataset containing information on FDI flows from market to transition economies, we establish the determinants of FDI inflows to Central and Eastern Europe: country risk, unit labour costs, host market size and gravity factors. In turn, we find country risk to be influenced by private sector development, industrial development, the government balance, reserves and corruption. By introducing structural shift dummy variables for key announcements of progress in EU accession we show that announcements have impacted directly upon FDI receipts but have not influenced country credit ratings. The Agenda 2000 announcement by the European Commission induced a bifurcation between the 'first wave' transition countries and the remainder of our sample. The underlying dynamics of the process illustrate that increases in FDI improve country credit ratings with a lag, hence increasing future FDI receipts. Consequently we suggest that the accession progress has the potential to induce virtuous cycles for the frontrunners but may have serious consequences for the accession laggards.foreign direct investment, EU accession, transition economies