Large Farms and Small Businesses: The difficult path toward development in rural China

The "Chinese Economic Miracle" of sustained growth since the 1970s has been thoroughly explored by many economists. So, too, has the obvious dichotomy between China's urban industrial sector and its rural agrarian economy. What has kept China's industrial development from migrating outward from its cities and into its countryside? When will the industrial revolution in Chinese agriculture begin? This paper examines a series of obstacles to the development of an industrial agricultural system in selected communities in China, contrasting government's goals for development with a realistic assessment of the economic characteristics of China's rural areas. The first section of this paper addresses the development of China's modern agricultural system, and the systems of land trading utilized by rural Chinese. The second section examines the impact of formal and informal financing on the development of rural businesses, as well as the development of a microfinance market in China's rural areas. Together, analysis of these issues demonstrates that China's government must address issues of property rights, access to capital, and social welfare if agricultural industrialization is to be encouraged

A History of Business Education as Seen by a Bryant College Administrator

The history of Bryant and business education as seen by Nelson T. Gulski \u2726, \u2772H, Vice President of Bryant at the time of this writing

Shear response of a smectic film stabilized by an external field

The response of a field-stabilized two-dimensional smectic to shear stress is discussed. Below a critical temperature the smectic film exhibits elastic response to an infinitesimal shear stress normal to the layering. At finite stresses free dislocations nucleate and relax the applied stress. The coupling of the dislocation current to the stress results in non-newtonian viscous flow. The flow profile in a channel geometry is shown to change qualitatively from a power-law dependence to a Poiseuille-like profile opon increasing the pressure head

Stress corrosion cracking evaluation of precipitation-hardening stainless steel

Accelerated test program results show which precipitation hardening stainless steels are resistant to stress corrosion cracking. In certain cases stress corrosion susceptibility was found to be associated with the process procedure

Measure Factors, Tension, and Correlations of Fluid Membranes

We study two geometrical factors needed for the correct construction of statistical ensembles of surfaces. Such ensembles appear in the study of fluid bilayer membranes, though our results are more generally applicable. The naive functional measure over height fluctuations must be corrected by these factors in order to give correct, self-consistent formulas for the free energy and correlation functions of the height. While one of these corrections -- the Faddeev-Popov determinant -- has been studied extensively, our derivation proceeds from very simple geometrical ideas, which we hope removes some of its mystery. The other factor is similar to the Liouville correction in string theory. Since our formulas differ from those of previous authors, we include some explicit calculations of the effective frame tension and two-point function to show that our version indeed secures coordinate-invariance and consistency to lowest nontrivial order in a temperature expansion.Comment: 24 pp; plain Te

Targeting versus instrument rules for monetary policy

Monetary policy ; Econometric models

A strut with infinitely adjustable thermal expansivity and length

A tubular strut with an integral mechanism for adjusting its thermal expansivity and length was developed to fulfill the stringent thermal stability requirements anticipated for the metering truss in the Large Space Telescope. Its features may be advantageously applied to a general variety of structures and precision mechanisms where dimensional control of component elements in a dynamic thermal environment is required. Detail, design, fabrication, and test of a developmental strut are discussed

Targeting versus instrument rules for monetary policy

Svensson (2003) argues strongly that specific targeting rules-first-order optimality conditions for a specific objective function and model-are normatively superior to instrument rules for the conduct of monetary policy. That argument is based largely on four main objections to the latter, plus a claim concerning the relative interest-instrument variability entailed by the two approaches. The present paper considers the four objections in turn and advances arguments that contradict all of them. Then, in the paper's analytical sections, it is demonstrated that the variability claim is incorrect, for a neo-canonical model and also for a variant with one-period-ahead plans used by Svensson, providing that the same decisionmaking errors are relevant under the two alternative approaches. Arguments relating to general targeting rules and actual central bank practice are also included.Monetary policy ; Banks and banking, Central