Do product market regulations in upstream sectors curb productivity growth? Panel data evidence for OECD countries

The paper focuses on the influence of upstream competition for productivity outcomes in downstream sectors. This relation is illustrated with a neo-Schumpeterian theoretical model of innovation (Aghion et al., 1997) with market imperfections in the production of intermediate goods. In this context, upstream market imperfections create barriers to competition in downstream markets and upstream producers use their market power to share innovation rents sought by downstream firms. Thus, lack of competition in upstream markets curbs incentives to improve productivity downstream, negatively affecting productivity outcomes. We test this prediction by estimating an error correction model that differentiates the potential downstream effects of lack of upstream competition in situations close and far from the global technological frontier. We measure competition upstream with regulatory burden indicators derived from OECD data on sectoral product market regulation and the industry-level efficiency improvement and the distance to frontier variables by means of a multifactor productivity (MFP) index. Panel regressions are run for 15 OECD countries and 20 sectors over the 1985-2007 period with country, sector and year fixed effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over the past 15 years. These effects tend to be strongest for observations (i.e. country/sector/period triads) that are close to the global technological frontier. Our results suggest that, measured at the average distance to frontier and average level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to increase MFP growth by between 1 and 1.5 per cent per year in the OECD countries covered by our sample. Our results are robust to changes in the way MFP and the regulatory burden indicators are constructed, as well as to variations in the sample of countries and/or sectors.Productivity, Growth, Regulations, Competition, Catch-up.

Policies And International Integration: Influences On Trade And Foreign Direct Investment

This paper assesses the importance of border and non-border policies for global economic integration. The focus is on four widely-advocated policies: removing explicit restrictions to trade and FDI; promoting domestic competition; improving the adaptability of labour markets; and ensuring adequate levels of infrastructure capital. The analysis covers FDI and trade in both goods and services, thus aiming to account for the most important channels of globalisation and dealing with most modes of cross-border services supply. It first describes trends in trade, FDI and the four sets of policies using a large set of structural policy indicators recently constructed by the OECD, including the new summary indicators for FDI-specific regulations described in Golub (2003). It then estimates the impact of policies on bilateral trade and bilateral and multilateral FDI. The results highlight that, despite extensive liberalisation over the past two decades, there is scope for further reducing policy barriers to integration of OECD markets. Remaining barriers have a significant impact on trade and FDI, with anticompetitive domestic regulations and restrictive labour market arrangements estimated to curb integration as much as explicit trade and FDI restrictions. Simulating the removal of such barriers suggests that the quantitative effects of further liberalisation of trade, FDI and domestic product and labour markets on global integration could be substantial

Subjective And Objective Measures Of Governmental Regulations In OECD Nations

Since government regulations may have an important impact on the macroeconomic performance of market economies, it is necessary to devise quantitative indicators of the regulatory regime, which raises some difficult methodological issues. After reviewing some of these problems, we compare the results of several recent quantitative studies of regulation in OECD nations, some based on an extensive review and quantification of laws and regulations, others based on observational data of those familiar with these regulations. Despite their very different methodologies and coverage of particular types of governmental regulation, the results of the three studies are significantly correlated, which suggests that they all capture the same underlying reality. (c) 2005 Elsevier B.V. All rights reserved

Magnetic-Field Tuning of Light-Induced Superconductivity in Striped La2−x_{2-x}Bax_xCuO4_4

Optical excitation of stripe-ordered La$_{2-x}$Ba$_x$CuO$_4$ has been shown to transiently enhance superconducting tunneling between the CuO$_2$ planes. This effect was revealed by a blue-shift, or by the appearance of a Josephson Plasma Resonance in the terahertz-frequency optical properties. Here, we show that this photo-induced state can be strengthened by the application of high external magnetic fields oriented along the c-axis. For a 7-Tesla field, we observe up to a ten-fold enhancement in the transient interlayer phase correlation length, accompanied by a two-fold increase in the relaxation time of the photo-induced state. These observations are highly surprising, since static magnetic fields suppress interlayer Josephson tunneling and stabilize stripe order at equilibrium. We interpret our data as an indication that optically-enhanced interlayer coupling in La$_{2-x}$Ba$_x$CuO$_4$ does not originate from a simple optical melting of stripes, as previously hypothesized. Rather, we speculate that the photo-induced state may emerge from activated tunneling between optically-excited stripes in adjacent planes.Comment: 35 pages, 13 figure

High-temperature optical spectral weight and Fermi liquid renormalization in Bi-based cuprates

The optical conductivity and the spectral weight W(T) of two superconducting cuprates at optimum doping, Bi2Sr2-xLaxCuO6 and Bi2Sr2CaCu2O8, have been first measured up to 500 K. Above 300 K, W(T) deviates from the usual T2 behavior in both compounds, even though the zero-frequency extrapolation of the optical conductivity remains larger than the Ioffe-Regel limit. The deviation is surprisingly well described by the T4 term of the Sommerfeld expansion, but its coefficients are enhanced by strong correlation. This renormalization is due to strong correlation, as shown by the good agreement with dynamical mean field calculations.Comment: 5 pages, 3 figures, Physical Review Letters in pres

External ultrasound-assisted lipectomy: effects on abdominal adipose tissue

The use of ultrasound “on the surface” was hypothesized by Scuderi et al. in 19871 and resumed by Zocchi in 1996.2 Ultrasound-assisted liposuction is as a technique that can be associated with suctionassisted lipectomy.3 This new technique is called external ultrasound-assisted lipectomy. Whereas ultrasound- assisted liposuction emulsifies adipose tissue due to adipocyte membrane lysis, external ultrasound- assisted lipectomy, being less “invasive,” induces cell-to-cell contact loss and alters collagenic fibers. This leads to an easier detachment of adipose cells, which remain unaltered and can be mechanically removed. The external ultrasound-assisted lipectomy technique is the transcutaneous application of ultrasound by means of high-frequency ultrasound upon massive infiltrated tissue, followed by traditional liposuction. Results showed that several different effects were detected on both adipocytes and collagen fibers

Intramedullary craniovertebral junction metastasis leading to the diagnosis of underlying renal cell carcinoma

Background: Intramedullary spinal cord metastases represent 4–8.5% of the central nervous system metastases and affect only 0.1–0.4% of all patients. Those originating from renal cell carcinoma (RCC) are extremely rare. Of the eight patients described in the literature with metastatic RCC and intramedullary cord lesion, only five were found in the cervical spine. Here, the authors add a 6th case involving an RCC intramedullary metastasis at the C1–C2 level. Case Description: A 78-year-old male patient presented with intermittent cervicalgia of 5 months duration accompanied by few weeks of a progressive severe right hemiparesis, up to hemiplegia. The magnetic resonance imaging (MRI) examination revealed an intramedullary expansive lesion measuring 10 mm×15 mm at the C1–C2 level; it readily enhanced with contrast. A total body computed tomography (CT) scan documented an 85 mm mass involving the right kidney, extending to the ipsilateral adrenal gland, and posteriorly infiltrating the ipsilateral psoas muscle. The subsequent CT-guided fine-needle biopsy confirmed the diagnosis of an RCC (Stage IV). The patient next underwent total surgical total removal of the C1–C2 intramedullary mass, following which he exhibited a slight motor improvement, with the right hemiparesis (2/5). He died after 14 months due to global RCC tumor progression. Conclusion: The present case highlights that a patient without a prior known diagnosis of RCC may present with an intramedullary C1–C2 metastasis. In such cases, global staging is critical to determine whether primary lesion resection versus excision of metastases (e.g., in this case, the C1–C2 intramedullary tumor) are warrante

Cardiovascular autonomic function and MCI in Parkinson's disease

Introduction: dysautonomic dysfunction and cognitive impairment represent the most disabling non-motor features of Parkinson's Disease (PD). Recent evidences suggest the association between Orthostatic Hypotension (OH) and PD-Dementia. However, little is known on the interactions between cardiovascular dysautonomia and Mild Cognitive Impairment (MCI). We aimed to evaluate the association between cardiovascular dysautonomia and MCI in patients with PD. Methods: non-demented PD patients belonging to the PACOS cohort underwent a comprehensive instrumental neurovegetative assessment including the study of both parasympathetic and sympathetic function (30:15 ratio, Expiratory-Inspiratory ratio [E-I] and presence of Orthostatic Hypotension [OH]). Diagnosis of MCI was made according to the MDS criteria level II. Results: we enrolled 185 PD patients of whom 102 (55.1%) were men, mean age was 64.6 ± 9.7 years, mean disease duration of 5.6 ± 5.5 years with a mean UPDRS-ME score of 31.7 ± 10.9. MCI was diagnosed in 79 (42.7%) patients. OH was recorded in 52 (28.1%) patients, altered 30:15 ratio was recorded in 39 (24.1%) patients and an altered E-I ratio was found in 24 (19.1%) patients. Presence of MCI was associated with an altered 30:15 ratio (adjOR 2.83; 95%CI 1.25–6.40) but not with an altered E-I ratio, while OH was associated only with the amnestic MCI subgroup (OR 2.43; 95% CI 1.05–5.06). Conclusion: in our study sample, MCI was mainly associated with parasympathetic dysfunction in PD

Dalbavancin and Selected Comparison Agents Tested Against Indicated Gram-positive Isolates in European Medical Centers (Italy): Results from the DECIDE Program

tetracycline (96.4%) and gentamicin (99.3%). Staphylococci included MRSA (35.7%) and MR-CoNS (68.4%); and MRSA isolates were resistant to levofloxacin (96%) and erythromycin (74%). All clindamycin-susceptible SA had inducible resistance. Dalbavancin (MIC90; 0.047mg/L) was 10-fold more potent than vancomycin (MIC90; 0.5mg/L) against BHS. Erythromycin susceptibility was 82% with a 25% inducible clindamycin resistance. Conclusions: The DECIDE study demonstrated in UK and Ireland that dalbavancin has excellent activity and was more potent when directly compared to vancomycin. Dalbavancin was active against all MRSA, although the current susceptibility profiles for other antimicrobial classes tested were of great concern, particularly inducible clindamycin resistance (100%). Monitoring dalbavancin activity should be continued as this newer long-acting agent is introduced into EU clinical practice