Impact of Financial Development and Foreign Direct Investment on Investment Allocation Efficiency in China : An Evidence Based the Industrial Panel Data

Using China’s provincial panel data set containing 17 industries from 2006 to 2012, we assess the effect of financial development and foreign direct investment (FDI) on the allocation of China’s industrial investment, based on two investment allocation efficiency indicators, the industrial sales elasticity of total fixed assets and the industrial value added elasticity of total fixed assets, respectively. When using the sales elasticity of total fixed assets to indicate investment allocation efficieng, we find that FDI and stock market activities had negative effects while investment allocation efficiency was spurred by domestic bank loan whose impact was largely reduced by FDI, and loan to the private sector had a mild influence on investment allocation efficiency. Contradictory results are obtained by using industrial value added elasticity of total fixed assets as the indicator of the investment allocation efficiency, which could be attributed to the fact that China\u27s FDI was below the minimum threshold value to fully promote the optimization of domestic bank loan but reached that for loans to the private sector. Furthermore, stock market has a positive effect on investment allocation efficiency and barely any crowding out effect on FDI. Therefore, policy-makers should carefully consider the economic condition, the development plan and location when choosing the optimal investment scheme, and gradually switch the sales-driven investment strategy to that aiming at increasing industrial value-added

An hourglass model for the flare of HST-1 in M87

To explain the multi-wavelength light curves (from radio to X-ray) of HST-1 in the M87 jet, we propose an hourglass model that is a modified two-zone system of Tavecchio & Ghisellini (hereafter TG08): a slow hourglass-shaped or Laval nozzle-shaped layer connected by two revolving exponential surfaces surrounding a fast spine, through which plasma blobs flow. Based on the conservation of magnetic flux, the magnetic field changes along the axis of the hourglass. We adopt the result of TG08---the high-energy emission from GeV to TeV can be produced through inverse Compton by the two-zone system, and the photons from radio to X-ray are mainly radiated by the fast inner zone system. Here, we only discuss the light curves of the fast inner blob from radio to X-ray. When a compressible blob travels down the axis of the first bulb in the hourglass, because of magnetic flux conservation, its cross section experiences an adiabatic compression process, which results in particle acceleration and the brightening of HST-1. When the blob moves into the second bulb of the hourglass, because of magnetic flux conservation, the dimming of the knot occurs along with an adiabatic expansion of its cross section. A similar broken exponential function could fit the TeV peaks in M87, which may imply a correlation between the TeV flares of M87 and the light curves from radio to X-ray in HST-1. The Very Large Array (VLA) 22 GHz radio light curve of HST-1 verifies our prediction based on the model fit to the main peak of the VLA 15 GHz radio light curve.Comment: 14 pages, 2 figures, accepted for publication in A

catena-Poly[[[diaqua­copper(II)]-bis­[μ2-1,3-bis­(1,2,4-triazol-1-yl)propane]] dinitrate monohydrate]

The title CuII coordination polymer, {[Cu(C7H10N6)2(H2O)2](NO3)2·H2O}n, was obtained by the reaction of equimolar Cu(NO3)2·4H2O and 1,3-bis­(1,2,4-triazol-1-yl)propane (btp) in a water–methanol solvent. The CuII atom is located on a centre of inversion and has an elongated octa­hedral coordination geometry formed by four N atoms from four symmetry-related btp ligands and two coordinated water mol­ecules. Adjacent CuII atoms are connected by btp ligands, generating a double-stranded chain. The nitrate anion is disordered over two positions in a 0.828 (7):0.172 (2) ratio

Multiple Events of Allopolyploidy in the Evolution of the Racemose Lineages in Prunus (Rosaceae) Based on Integrated Evidence from Nuclear and Plastid Data.

Prunus is an economically important genus well-known for cherries, plums, almonds, and peaches. The genus can be divided into three major groups based on inflorescence structure and ploidy levels: (1) the diploid solitary-flower group (subg. Prunus, Amygdalus and Emplectocladus); (2) the diploid corymbose group (subg. Cerasus); and (3) the polyploid racemose group (subg. Padus, subg. Laurocerasus, and the Maddenia group). The plastid phylogeny suggests three major clades within Prunus: Prunus-Amygdalus-Emplectocladus, Cerasus, and Laurocerasus-Padus-Maddenia, while nuclear ITS trees resolve Laurocerasus-Padus-Maddenia as a paraphyletic group. In this study, we employed sequences of the nuclear loci At103, ITS and s6pdh to explore the origins and evolution of the racemose group. Two copies of the At103 gene were identified in Prunus. One copy is found in Prunus species with solitary and corymbose inflorescences as well as those with racemose inflorescences, while the second copy (II) is present only in taxa with racemose inflorescences. The copy I sequences suggest that all racemose species form a paraphyletic group composed of four clades, each of which is definable by morphology and geography. The tree from the combined At103 and ITS sequences and the tree based on the single gene s6pdh had similar general topologies to the tree based on the copy I sequences of At103, with the combined At103-ITS tree showing stronger support in most clades. The nuclear At103, ITS and s6pdh data in conjunction with the plastid data are consistent with the hypothesis that multiple independent allopolyploidy events contributed to the origins of the racemose group. A widespread species or lineage may have served as the maternal parent for multiple hybridizations involving several paternal lineages. This hypothesis of the complex evolutionary history of the racemose group in Prunus reflects a major step forward in our understanding of diversification of the genus and has important implications for the interpretation of its phylogeny, evolution, and classification