Banks as Catalysts for Industrialization

We provide a new theory of the role of banks as catalysts for industrialization. In their influential analysis of 19th century continental European industrialization, Gerschenkron and Schumpeter accorded banks a central role, arguing that they promoted the creation of new industries. We formalize this role of banks by introducing financial intermediaries into a 'big push' model. We show that banks may act as `catalysts' for industrialization provided that they are sufficiently large to mobilize a critical mass of firms, and that they possess sufficient market power to make profits from coordination. The theory provides simple conditions that help to explain why banks seem to play a creative role in some but not in other emerging markets. The model also shows that universal banking helps to reduce the cost of coordination. Finally, we show that one disadvantage of catalytic banks is that they may favor concentration in the industrial sector.http://deepblue.lib.umich.edu/bitstream/2027.42/39827/3/wp443.pd

Banks as Catalysts for Industrialization

We provide a new theory of the role of banks as catalysts for industrialization. In their influential analysis of 19th century continental European industrialization, Gerschenkron and Schumpeter accorded banks a central role, arguing that they promoted the creation of new industries. We formalize this role of banks by introducing financial intermediaries into a 'big push' model. We show that banks may act as `catalysts' for industrialization provided that they are sufficiently large to mobilize a critical mass of firms, and that they possess sufficient market power to make profits from coordination. The theory provides simple conditions that help to explain why banks seem to play a creative role in some but not in other emerging markets. The model also shows that universal banking helps to reduce the cost of coordination. Finally, we show that one disadvantage of catalytic banks is that they may favor concentration in the industrial sector.Coordination Failures, Financial Institutions, Financial History, Banks, Banking and Finance

Anomalous diffusion in polymers: long-time behaviour

We study the Dirichlet boundary value problem for viscoelastic diffusion in polymers. We show that its weak solutions generate a dissipative semiflow. We construct the minimal trajectory attractor and the global attractor for this problem.Comment: 13 page

The eigenpairs of a Sylvester-Kac type matrix associated with a simple model for one-dimensional deposition and evaporation

A straightforward model for deposition and evaporation on discrete cells of a finite array of any dimension leads to a matrix equation involving a Sylvester-Kac type matrix. The eigenvalues and eigenvectors of the general matrix are determined for an arbitrary number of cells. A variety of models to which this solution may be applied are discussed.Comment: 7 pages, no figure

Cultivating the macroalgal holobiont: effects of integrated multi-trophic aquaculture on the microbiome of Ulva rigida (chlorophyta)

Ulva is a ubiquitous macroalgal genus of commercial interest. Integrated Multi-Trophic Aquaculture (IMTA) systems promise large-scale production of macroalgae due to their high productivity and environmental sustainability. Complex host-microbiome interactions play a decisive role in macroalgal development, especially in Ulva spp. due to algal growth- and morphogenesis-promoting factors released by associated bacteria. However, our current understanding of the microbial community assembly and structure in cultivated macroalgae is scant. We aimed to determine (i) to what extent IMTA settings influence the microbiome associated with U. rigida and its rearing water, (ii) to explore the dynamics of beneficial microbes to algal growth and development under IMTA settings, and (iii) to improve current knowledge of host-microbiome interactions. We examined the diversity and taxonomic composition of the prokaryotic communities associated with wild versus IMTA-grown Ulva rigida and surrounding seawater by using 16S rRNA gene amplicon sequencing. With 3141 Amplicon Sequence Variants (ASVs), the prokaryotic richness was, overall, higher in water than in association with U. rigida. Bacterial ASVs were more abundant in aquaculture water samples than water collected from the lagoon. The beta diversity analysis revealed distinct prokaryotic communities associated with Ulva collected in both aquacultures and coastal waters. Aquaculture samples (water and algae) shared 22% of ASVs, whereas natural, coastal lagoon samples only 9%. While cultivated Ulva selected 239 (8%) host-specific ASVs, wild specimens possessed more than twice host-specific ASVs (17%). Cultivated U. rigida specimens enriched the phyla Cyanobacteria, Planctomycetes, Verrucomicrobia, and Proteobacteria. Within the Gammaproteobacteria, while Glaciecola mostly dominated the microbiome in cultivated algae, the genus Granulosicoccus characterized both Ulva microbiomes. In both wild and IMTA settings, the phylum Bacteroidetes was more abundant in the bacterioplankton than in direct association with U. rigida. However, we observed that the Saprospiraceae family within this phylum was barely present in lagoon water but very abundant in aquaculture water. Aquaculture promoted the presence of known morphogenesis-inducing bacteria in water samples. Our study suggests that IMTA significantly shaped the structure and composition of the microbial community of the rearing water and cultivated U. rigida. Detailed analysis revealed the presence of previously undetected taxa associated with Ulva, possessing potentially unknown functional traits.European Union (EU)642575; German Research Foundation (DFG) CRC 1127 ChemBioSys;COST Action "Phycomorph" FA1406info:eu-repo/semantics/publishedVersio

Managing Access to Service Providers in Federated Identity Environments: A Case Study in a Cloud Storage Service

© 2015 IEEE. Currently the diversity of services, which are adhering to Identity Federation, has raised new challenges in the area. Increasingly, service providers need to control the access to their resources by users from the federation as, even though the user is authenticated by the federation, its access to resources cannot be taken for granted. Each Service Provider (SP) of a federation implements their own access control mechanism. Moreover, SPs might need to allow different access control granularity. For instance, all users from a particular Identity Provider (IdP) may access the resources due to some financial agreement. On the other hand, it might be the case that only specific users, or groups of users, have access to the resources. This paper proposes a solution to this problem through a hierarchical authorization system. Our approach, which can be customized to different SPs, allows the SP administrator to manage which IdPs, or users, have access to the provided resources. In order to demonstrate the feasibility of our approach, we present a case study in the context of a cloud storage solution

Effect of anisotropy in the S=1S=1 underscreened Kondo lattice

We study the effect of crystal field anisotropy in the underscreened $S=1$ Kondo lattice model. Starting from the two orbital Anderson lattice model and including a local anisotropy term, we show, through Schrieffer-Wolff transformation, that local anisotropy is equivalent to an anisotropic Kondo interaction ($J_{\parallel} \neq{J_{\perp}}$). The competition and coexistence between ferromagnetism and Kondo effect in this effective model is studied within a generalized mean-field approximation. Several regimes are obtained, depending on the parameters, exhibiting or not coexistence of magnetic order and Kondo effect. Particularly, we show that a re-entrant Kondo phase at low temperature can be obtained. We are also able to describe phases where the Kondo temperature is smaller than the Curie temperature ($T_K<T_C$). We propose that some aspects of uranium and neptunium compounds that present coexistence of Kondo effect and ferromagnetism, can be understood within this model.Comment: 7 pages, 3 figure