Capital Account Openness and the Varieties of Growth Experience

The effects of capital account openness on economic growth may vary across countries. Some countries may not have in place the constellation of institutions required to fully benefit from open capital accounts. Other countries may realize only small marginal improvements in the wake of capital account liberalization. This paper presents evidence of an inverted-U shaped relationship between the responsiveness of growth to capital account openness and income per capita. Middle-income countries benefit significantly from capital account openness. However, neither rich nor poor countries exhibit statistically significant positive effects. A similar inverted-U shaped relationship is found between the responsiveness of growth to capital account openness and various indicators of government quality.

Experience with modified aerospace reliability and quality assurance method for wind turbines

The SR&QA approach assures that the machine is not hazardous to the public or operating personnel, can operate unattended on a utility grid, demonstrates reliability operation, and helps establish the quality assurance and maintainability requirements for future wind turbine projects. The approach consisted of modified failure modes and effects analysis (FMEA) during the design phase, minimal hardware inspection during parts fabrication, and three simple documents to control activities during machine construction and operation. Five years experience shows that this low cost approach works well enough that it should be considered by others for similar projects

The importance of batteries in unmanned missions

The planetary program has historically used batteries to supply peak power needs for mission specific applications. Any time that additional power has been required in order to meet peak power demands or those applications where only limited amounts of power were required, batteries have always been used. Up until the mid to late 70's they have performed their task admirably. Recently, however, we have all become aware of the growing problem of developing reliable NiCd batteries for long mission and high cycle life applications. Here, the role rechargeable batteries will play for future planetary and earth observing spacecraft is discussed. In conclusion, NiCds have been and will continue to be the mainstay of the power system engineers tools for peak power production. Recent experience has tarnished its once sterling reputation. However, the industry has stood up to this challenge and implemented wide ranging plans to rectify the situation. These efforts should be applauded and supported as new designs and materials become available. In addition, project managers must become aware of their responsibility to test their batteries and insure quality and mission operating characteristics. Without this teamwork, the role of NiCds in the future will diminish, and other batteries, not as optimum for high performance applications (low mass and volume) will take their place

Capital Account Liberalization, Institutional Quality and Economic Growth: Theory and Evidence

This paper shows that the effect of capital account liberalization on growth depends upon the environment in which that policy occurs. A theoretical model demonstrates the possibility of an inverted-U shaped relationship between the responsiveness of growth to capital account liberalization and institutional quality. Three empirical specifications based on the model are estimated using a panel of 71 countries. Estimates of all three specifications support the hypothesis of a non-monotonic interaction between the responsiveness of growth to capital account liberalization and institutional quality, with about one-quarter of the countries, those with better (but not the best) institutions exhibiting a statistically significant and economically meaningful effect of capital account openness on economic growth.

Modified aerospace reliability and quality assurance method for wind turbines

The safety, reliability, and quality assurance (SR&QA) approach developed for the first large wind turbine generator project is described. The SR&QA approach was used to assure that the machine would not be hazardous to the public or operating personnel, would operate unattended on a utility grid, would demonstrate reliable operation and would help establish the quality assurance and maintainability requirements for future wind turbine projects. A modified failure modes and effects analysis during the design phase, minimal hardware inspections during parts fabrication, and three simple documents to control activities during machine construction and operation were presented