The “China effect” on EU Exports to OECD markets – A focus on Italy

This paper analyzes the indirect impact of China on the export performance of major European countries (Italy, France, Germany and Spain) in their main destination markets (OECD countries). Given a strong specialization in manufacturing sector, these EU countries are likely to be at risk from China’s competition, especially in consumer goods. The heterogeneity in the production (and export) structures of EU countries makes Italy, whose productive structure is based on so-called “traditional” sectors, most vulnerable to China’s competitive pressure. Using data for the period 1995-2009, this paper estimates the possible displacement effect at sector level. Results show that there is a considerable variation in different EU countries’ exposure to China’s competition and that, in some sectors the Chinese exports effect is, indeed, strong. This is particularly true for the more recent period, after China has entered WTO and for Italy, both in traditional and more capital intensive sectors.china, trade, italy, gravity model

China's Outward FDI: An Industry-level Analysis of Host Country Determinants

We provide an empirical analysis of host country determinants of Chinese outward FDI for the period 2003 to 2008, using data disaggregated by country and industry. We want to assess the relevance of market-seeking, resource-seeking and strategic asset seeking motivations suggested by the theory on FDI determinants. Our results show that only FDI in manufacturing is attracted by market seeking motivations. As expected, resource seeking is an important motivation for Chinese FDI in resource related sectors, which usually refers to countries with political fragile environments. Strategic asset seeking motivations are relevant for both manufacturing and services.China, foreign direct investment, internationalization, trade-FDI nexus

Magnetic susceptibility and equation of state of N_f = 2+1 QCD with physical quark masses

We determine the free energy of strongly interacting matter as a function of an applied constant and uniform magnetic field. We consider N_f = 2+1 QCD with physical quark masses, discretized on a lattice by stout improved staggered fermions and a tree level improved Symanzik pure gauge action, and explore three different lattice spacings. For magnetic fields of the order of those produced in non-central heavy ion collisions (eB ~ 0.1 GeV^2) strongly interacting matter behaves like a medium with a linear response, and is paramagnetic both above and below the deconfinement transition, with a susceptibility which steeply rises in the deconfined phase. We compute the equation of state, showing that the relative increase in the pressure due to the magnetic field gets larger around the transition, and of the order of 10 % for eB ~ 0.1 GeV^2.Comment: 11 pages, 10 figures, 3 tables. Final version published in Physical Review

Magnetic Susceptibility of Strongly Interacting Matter across the Deconfinement Transition

We propose a method to determine the total magnetic susceptibility of strongly interacting matter by lattice QCD simulations, and present first numerical results for the theory with two light flavors, which suggest a weak magnetic activity in the confined phase and the emergence of strong paramagnetism in the deconfined, Quark-Gluon Plasma phase.Comment: 6 pages, 6 figures, 2 tables. Final version published in Physical Review Letter

Roberge-Weiss endpoint at the physical point of Nf=2+1N_f = 2+1 QCD

We study the phase diagram of $N_f = 2+1$ QCD in the $T - \mu_B$ plane and investigate the critical point corresponding to the onset of the Roberge-Weiss transition, which is found for imaginary values of $\mu_B$. We make use of stout improved staggered fermions and of the tree level Symanzik gauge action, and explore four different sets of lattice spacings, corresponding to $N_t = 4,6,8,10$, and different spatial sizes, in order to assess the universality class of the critical point. The continuum extrapolated value of the endpoint temperature is found to be $T_{\rm RW} = 208(5)$ MeV, i.e. $T_{\rm RW}/T_c \sim 1.34(7)$, where $T_c$ is the chiral pseudocritical temperature at zero chemical potential, while our finite size scaling analysis, performed on $N_t = 4$ and $N_t = 6$ lattices, provides evidence for a critical point in the $3d$ Ising universality class.Comment: 10 pages, 14 eps figures, 2 tables, final version published in Physical Review

Curvature of the chiral pseudo-critical line in QCD: continuum extrapolated results

We determine the curvature of the pseudo-critical line of strong interactions by means of numerical simulations at imaginary chemical potentials. We consider $N_f=2+1$ stout improved staggered fermions with physical quark masses and the tree level Symanzik gauge action, and explore four different sets of lattice spacings, corresponding to $N_t = 6,8,10,12$, in order to extrapolate results to the continuum limit. Our final estimate is $\kappa = 0.0135(20)$.Comment: 11 pages, 10 figures, 4 tables. Version to appear in Physical Review

Curvature of the chiral pseudo-critical line in QCD

We determine the curvature of the pseudo-critical line of strong interactions by means of numerical simulations at imaginary chemical potentials. We consider $N_f=2+1$ stout improved staggered fermions with physical quark masses and the tree level Symanzik gauge action, and explore two different sets of lattice spacings, corresponding to temporal extensions $N_t = 6$ and $N_t = 8$. Both the renormalized chiral condensate and the renormalized chiral susceptibility are used to locate the transition. The determinations obtained from the two quantities are in good agreement, a preliminary continuum extrapolation yields $\kappa = 0.013(2)(1)$. We also investigate the impact of a non-zero strange quark chemical potential and compare our results to previous determinations in the literature, discussing the possible sources of systematic errors affecting the various procedures.Comment: 16 pages, 12 figures, 11 tables. Published versio

Anisotropy of the quark-antiquark potential in a magnetic field

We investigate the static $\overline{Q}Q$-potential for $N_f = 2+1$ QCD at the physical point in the presence of a constant and uniform external magnetic field. The potential is found to be anisotropic and steeper in the directions transverse to the magnetic field than in the longitudinal one. In particular, when compared to the standard case with zero background field, the string tension increases (decreases) in the transverse (longitudinal) direction, while the absolute value of the Coulomb coupling and the Sommer parameter show an opposite behavior.Comment: 6 pages, 5 figures, 1 table. Final published versio