The Financial Deepening-Productivity Nexus in China: 1987-2001

The financial intermediation-growth nexus is a widely studied topic in the literature of development economics. Deepening financial intermediation may promote economic growth by mobilizing more investments, and lifting returns to financial resources, which raises productivity. Relying on provincial panel data from China, this paper attempts to examine if regional productivity growth is accounted for by the deepening process of financial development. Towards this end, an appropriate measurement of financial depth is constructed and then included as a determinant of productivity growth. It finds that a significant and positive nexus exists between financial deepening and productivity growth. Given the divergent pattern of financial deepening between coastal and inland provinces, this finding also helps explain the rising regional disparity in China.growth, financial development, productivity, China

Towards a Market Economy: Security Devices for China

From 1949 to 1978, China\u27s economy was centrally directed under a very rigid system of state planning. Under the planning system, security devices were not widely used. The government drew specific plans for enterprises and the Ministry of Finance used banks to allocate the funds to enterprises or projects. The banks, however, did not have to screen projects and monitor the use of funds after disbursements. They merely distributed the money to enterprises and collected the profits. Recognizing the shortcomings of central planning based almost exclusively on public ownership over the means of production, China embarked on an economic reform program in 1978. In 1993, China boldly declared that it would move towards a market oriented economy. Security devices have played significant roles in China\u27s reform towards a market oriented economy. Within a period of twenty years, China has developed a sophisticated understanding of the many security devices adopted in the West. Secured transactions are now very popular. The central focus of this article is to examine the various security devices under Chinese law and practice. These security devices include the deposit, the lien, the dian, the mortgage, the pledge, and the guarantee. The strengths and weaknesses of the legal provisions governing these security devices are also discussed. As China does not fully guarantee the convertibility of its currency into foreign currencies, a separate discussion concerning the provision of security or guarantee to foreign entities is provided

The Path and Enlightenment of Data-Driven Digital Transformation of Organizational Learning ——A Case Study of the Practice of China Telecom

This paper took China Telecom as a case. It has analyzed data-driven digital transformation in organizational learning, and summarized the methods and enlightenments of digital transformation

The Recovery of Weak Impulsive Signals Based on Stochastic Resonance and Moving Least Squares Fitting

In this paper a stochastic resonance (SR)-based method for recovering weak impulsive signals is developed for quantitative diagnosis of faults in rotating machinery. It was shown in theory that weak impulsive signals follow the mechanism of SR, but the SR produces a nonlinear distortion of the shape of the impulsive signal. To eliminate the distortion a moving least squares fitting method is introduced to reconstruct the signal from the output of the SR process. This proposed method is verified by comparing its detection results with that of a morphological filter based on both simulated and experimental signals. The experimental results show that the background noise is suppressed effectively and the key features of impulsive signals are reconstructed with a good degree of accuracy, which leads to an accurate diagnosis of faults in roller bearings in a run-to failure test

DETC2005/MECH-85241 DYNAMIC MODELING AND CONTROLLER DESIGN OF A PLANAR PARALLEL 3-RRR COMPLIANT MICROMANIPULATOR

ABSTRACT This paper presents control system formulations of a planar parallel 3-RRR parallel compliant micromanipulator. The design methodology is illustrated with one of such designs constructed at Beijing University of Aeronautics and Astronautics, China. Compliant joints and motion-amplifying mechanism allow rapid and accurate response as well as larger workspace. The three PZT actuators attached on the linkages produce the bending moments. The sensor is a CCD camera feeding back the tool point position. The plant is the equations of motion which can be formulated using the Lagrangian method and dynamics software. The system dynamic model was developed with ADAMS which can export the nonlinear and linearized control plant to Matlab Simulink. Overall dynamic behavior of the manipulator will be illustrated through simulations with Matlab Simulink Toolbox. After comparison of two different control plans, the controller obtained from LQR method was chosen to achieve the control objectives. Closed-loop performance in response to a step reference was plotted. Bode plots of the sensitivity and complementary sensitivity showed their relation to the step response. Gain and phase margins was computed

Rhizobacterial community structure in response to nitrogen addition varied between two Mollisols differing in soil organic carbon

Excessive nitrogen (N) fertilizer input to agroecosystem fundamentally alters soil microbial properties and subsequent their ecofunctions such as carbon (C) sequestration and nutrient cycling in soil. However, between soils, the rhizobacterial community diversity and structure in response to N addition is not well understood, which is important to make proper N fertilization strategies to alleviate the negative impact of N addition on soil organic C and soil quality and maintain plant health in soils. Thus, a rhizo-box experiment was conducted with soybean grown in two soils, i.e. soil organic C (SOC)-poor and SOC-rich soil, supplied with three N rates in a range from 0 to 100 mg N kg−1. The rhizospheric soil was collected 50 days after sowing and MiSeq sequencing was deployed to analyze the rhizobacterial community structure. The results showed that increasing N addition significantly decreased the number of phylotype of rhizobacteria by 12.3%, and decreased Shannon index from 5.98 to 5.36 irrespective of soils. Compared to the SOC-rich soil, the increases in abundances of Aquincola affiliated to Proteobacteria, and Streptomyces affiliated to Actinobacteria were greater in the SOC-poor soil in response to N addition. An opposite trend was observed for Ramlibacter belong to Proteobacteria. These results suggest that N addition reduced the rhizobacterial diversity and its influence on rhizobacterial community structure was soil-specific

Enhanced construction of gene regulatory networks using hub gene information

Background Gene regulatory networks reveal how genes work together to carry out their biological functions. Reconstructions of gene networks from gene expression data greatly facilitate our understanding of underlying biological mechanisms and provide new opportunities for biomarker and drug discoveries. In gene networks, a gene that has many interactions with other genes is called a hub gene, which usually plays an essential role in gene regulation and biological processes. In this study, we developed a method for reconstructing gene networks using a partial correlation-based approach that incorporates prior information about hub genes. Through simulation studies and two real-data examples, we compare the performance in estimating the network structures between the existing methods and the proposed method. Results In simulation studies, we show that the proposed strategy reduces errors in estimating network structures compared to the existing methods. When applied to Escherichia coli, the regulation network constructed by our proposed ESPACE method is more consistent with current biological knowledge than the SPACE method. Furthermore, application of the proposed method in lung cancer has identified hub genes whose mRNA expression predicts cancer progress and patient response to treatment. Conclusions We have demonstrated that incorporating hub gene information in estimating network structures can improve the performance of the existing methods