1,907 research outputs found
Analyzing R&D Activities of Foreign Enterprises in Emerging Economies. Lessons from Turkey
Emerging economies have played an important role in the internationalization of R&D activities at least since the 1990s. Turkey, an emerging economy and at same time an accession country to the European Union which signed a Customs Union Agreement with the EU already in 1995, is no exception. In-depth face-to-face semi-structured interviews were conducted with R&D directors of 26 multinational companies operating in Turkey –with headquarters located in France, Germany, Italy, Japan, Switzerlandand USA- in the informatics, automotive, electronics and pharmaceutical industries. Data and qualitative information obtained through these interviews are then used to analyze those factors theory points to as being major determinants of foreign R&D in emerging economies. The emphasis is on the (i) motivations of foreign enterprises for launching new R&D activities or extending existing ones (ii) restrictions of different kind they encounter in doing so (iii) their reactions with respect to FDI promotion policies and public R&D support incentives implemented by Turkish policy makers, and (iv) advantages/disadvantages of Turkish economy as an R&D location in comparison with other emerging economies. A number of policy recommendations for attracting more foreign R&D in Turkey and integrating them with the Turkish national innovation system are advanced.Research and development (R&D), internationalization of R&D, R&D offshoring, multinational companies, national innovation systems, case studies, semi-structured interviews
Large deviations for local time fractional Brownian motion and applications
Let W^H=\{W^H(t), t \in \rr\} be a fractional Brownian motion of Hurst
index with values in \rr, and let be
the local time process at zero of a strictly stable L\'evy process of index independent of . The \a-stable local
time fractional Brownian motion is defined by . The process is self-similar with self-similarity index and is related to the scaling limit of a continuous time
random walk with heavy-tailed waiting times between jumps
(\cite{coupleCTRW,limitCTRW}). However, does not have stationary
increments and is non-Gaussian.
In this paper we establish large deviation results for the process . As
applications we derive upper bounds for the uniform modulus of continuity and
the laws of the iterated logarithm for .Comment: 20 page
Fractional Cauchy problems on bounded domains
Fractional Cauchy problems replace the usual first-order time derivative by a
fractional derivative. This paper develops classical solutions and stochastic
analogues for fractional Cauchy problems in a bounded domain
with Dirichlet boundary conditions. Stochastic solutions
are constructed via an inverse stable subordinator whose scaling index
corresponds to the order of the fractional time derivative. Dirichlet problems
corresponding to iterated Brownian motion in a bounded domain are then solved
by establishing a correspondence with the case of a half-derivative in time.Comment: Published in at http://dx.doi.org/10.1214/08-AOP426 the Annals of
Probability (http://www.imstat.org/aop/) by the Institute of Mathematical
Statistics (http://www.imstat.org
Brownian subordinators and fractional Cauchy problems
A Brownian time process is a Markov process subordinated to the absolute
value of an independent one-dimensional Brownian motion. Its transition
densities solve an initial value problem involving the square of the generator
of the original Markov process. An apparently unrelated class of processes,
emerging as the scaling limits of continuous time random walks, involve
subordination to the inverse or hitting time process of a classical stable
subordinator. The resulting densities solve fractional Cauchy problems, an
extension that involves fractional derivatives in time. In this paper, we will
show a close and unexpected connection between these two classes of processes,
and consequently, an equivalence between these two families of partial
differential equations.Comment: 18 pages, minor spelling correction
Correlated continuous time random walks
Continuous time random walks impose a random waiting time before each
particle jump. Scaling limits of heavy tailed continuous time random walks are
governed by fractional evolution equations. Space-fractional derivatives
describe heavy tailed jumps, and the time-fractional version codes heavy tailed
waiting times. This paper develops scaling limits and governing equations in
the case of correlated jumps. For long-range dependent jumps, this leads to
fractional Brownian motion or linear fractional stable motion, with the time
parameter replaced by an inverse stable subordinator in the case of heavy
tailed waiting times. These scaling limits provide an interesting class of
non-Markovian, non-Gaussian self-similar processes.Comment: 13 page
Distributed-order fractional Cauchy problems on bounded domains
In a fractional Cauchy problem, the usual first order time derivative is
replaced by a fractional derivative. The fractional derivative models time
delays in a diffusion process. The order of the fractional derivative can be
distributed over the unit interval, to model a mixture of delay sources. In
this paper, we provide explicit strong solutions and stochastic analogues for
distributed-order fractional Cauchy problems on bounded domains with Dirichlet
boundary conditions. Stochastic solutions are constructed using a non-Markovian
time change of a killed Markov process generated by a uniformly elliptic second
order space derivative operator.Comment: 29 page
Technological Change and ICTs in OECD Countries
The motivation of the study is to form a ground for further research on the issue of the effect of electronic commerce on economic variables that has been supported by empirical models. In this respect, a considerable part of the study is devoted to the discussion of the building significant relationship between technology, electronic commerce and the fundamentals of the real economy. As a result of both the conceptual part and the analytical part, two important conclusions were drawn. The first one is that technological change is increasingly gaining special emphasis especially with the rising arguments on the issue of "New Economy". The second important point is that technological change and electronic commerce are in relation with the most important variables of the real economy like gross domestic product, investment, trade balance and also R&D expenditures.Technological Change, ICTs, E-commerce, employment, macroeconomics, OECD
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