Testing for convergence in stock markets: A non-linear factor approach

This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the analysis on both sectors and individual industries within sectors. As a first step, we use the Stock and Watson (1998) procedure to filter the data in order to extract the long-run component of the series; then, following Phillips and Sul (2007), we estimate the relative transition parameters. In the case of sectoral indices we find convergence in the middle of the sample period, followed by divergence, and detect four (two large and two small) clusters. The analysis at a disaggregate, industry level again points to convergence in the middle of the sample, and subsequent divergence, but a much larger number of clusters is now found. Splitting the cross-section into two subgroups including Euro area countries, the UK and the US respectively, provides evidence of a global convergence/divergence process not obviously influenced by EU policies

Induced magnetic field in accretion disks around neutron stars

There are X-ray pulsating sources that are explained by accretion from disks around neutron stars. Such disks deserve a detailed analysis. In particular, the dipole magnetic field of the central star may penetrate the disk, giving rise to an induced magnetic field inside the disk due to the frozen-in condition. The growth of the induced field can be limited by the turbulent diffusion. In the present work, I calculate the induced field in this case. The problem is reduced to the induction equation to which I have found an analytical solution describing radial and vertical structures of the induced field. The radial structure is close to the earlier predicted dependence on the difference in angular velocities between the magnetosphere and disk, $b \propto \Omega_{\rm s} - \Omega_{\rm k}$, while the vertical structure of an induced field is close to the linear dependence on the altitude above the equator, $b \propto z$. The possibility of the existence of non-stationary quasi-periodic components of the induced field is discussed.Comment: 8 pages, 3 figures, accepted to Astronomy Letters, proceedings of Physics of Neutron Stars conference (10-14 July 2023, Saint Petersburg, Russia), translation by the autho

Post-crisis world and management problems. View from russia

Este artículo propone el modelo conceptual que describe los requisitos previos más importantes del nuevo paradigma de gestión aplicable a Rusia en los inicios del siglo XX

Орієнталізм Едварда Саїда як методологія постколоніальних досліджень (Orientalismʼs Edward said as the methodology of the postcolonial studies)

У статті досліджується методологія Едварда Саїда, викладена в роботі «Орієнталізм», що стала основою подальшого розвитку постколоніальної літератури. Використовуючи поняття «орієнталізм», Саїд зміг пояснити відмінності між західною та східною культурою через дискурс зв’язку «знання – влада – уява». Методологічний підхід Саїда перетворився на міждисциплінарну сферу наукового вивчення, що відкрило можливості використовувати орієнталізм для перевірки правдивості чи фальсифікованості. (The article examines the methodology of Edward Said that he created and presented in the book of «Orientalism». In this work he was able to explain that the differences between peoples, nations and ethnic groups arised through different influence of rational knowledge into cultural self-determination. Culture of Western society, beginning from the era of modern times, has adapted rational knowledge or scientific concepts to the social and political needs of society. As a result, Western society has formed the modern period, during which Western nations realized their historical identity and determined their further development. Using the achievements of the scientific potential in the community of Western states was created the concept of «otherness», that is the cultural differences of the societies that they could experience the benefits of modernity. Thus, in Western science there was formed the concept of «orientalism» – different national texts about the East. The history of the formation and appointment of literature sources of «Orientalism» E. Said analyzes using the methodology of deconstruction, introduced by postrukturalist-philosopher J. Derrida. Through deconstruction Said found that «Orientalism» is opposing design, which helped the Western European states to realize their political ambitions. The purpose of «Orientalism» as a scientific field study of the East is the impact force and possession of everything that is defined as the opposite of Western cultural position. Therefore, for Said, his work «Orientalism» was predictive-critical exposure of differences between Western and Eastern culture through discourse communication «knowledge – power – magination». Said continued to develop critical methodology in his further works and deepened consideration of Orientalism to the theory of cultural imperialism – West continues to dominate, retaining the position to determine the scientific and intellectual socialization. Said developed methodological approach into an interdisciplinary field of scientific study, which opened the possibility to use Orientalism in order to verify the truth or alsification.

Effective lining of tunnel kiln cars made of aluminosilicate ceramoconcrete

Aluminosilicate ceramoconcrete lining for cars used in ceramic plant firing kilns was developed and introduced. The first cars with this lining have already operated for more than 50 cyclesyesBelgorod State Universit

The results of treatment of femoral diaphysis fractures using locked intramedullary osteosynthesis and extramedullary osteosynthesis (results for 10 years)

Background. Femoral diaphysis fractures are one of the most common and significant injuries to the bones of the limbs. Locked intramedullary osteosynthesis makes it possible to reduce the injury rate of the surgery and its length, as well as to carry out early rehabilitation of patients. The aim of the study. To conduct a continuous retrospective single-purpose comparative study of  the results of treatment of patients with femoral diaphysis fractures treated with locked intramedullary osteosynthesis and extramedullary osteosynthesis for 10 years. This study did not include patients with double femoral fractures treated by osteosynthesis using a combination of two implants – locked intramedullary implant and extramedullary implant. Material and methods. We conducted a retrospective study of the results of treatment of patients from 2011 to 2020. During this period, we treated 794 patients aged from 16 to 77 years with femoral diaphysis fractures. The share of people of working age was 75 %. The patients were divided into two groups depending on the method of surgical treatment. Group 1 included 500 patients who had surgical treatment using locked intramedullary osteosynthesis. Group 2 included 294 patients who had surgical treatment using extramedullary osteosynthesis. Results. In patients of group 1 treated with locked intramedullary osteosynthesis, good anatomical and functional treatment results were achieved in 70 % of cases; satisfactory treatment results – in 25.2 % of cases, unsatisfactory results – in 4.8 %. In the group 2, good results were achieved in 61.9 % of cases, satisfactory – in 29.6 %, unsatisfactory – in 8.5 %. Conclusion. The obtained results of treatment of femoral diaphysis fractures show the undeniable advantage of using locked intramedullary osteosynthesis compared to extramedullary osteosynthesis