Finance, Trade and Economic Growth in Thirteen Asian Developing Countries

The main purpose of this study is to empirically assess the impact of financial deepening, export and investment, on economic growth in thirteen Asian developing economies. To achieve that end, the bivariate relationship between economic growth and three macroeconomic variables are tested through these bivariate models, namely: finance-led, export-led and investment-led. To address the mis-specification problem inherent in the bivariate studies, a multivariate V AR framework is then utilised to investigate the long-run relationships among these four variables. Annual data is used in the analysis covering the period from as early as 1950 to 1996. The Asian countries selected included Singapore, South Korea, Taiwan, Indonesia, Malaysia, Thailand, India, the Philippines, Bangladesh, Myanmar, Nepal, Pakistan and Sri Lanka. The empirical evidence obtained from this study suggest the following: for the bivariate studies, results from the finance-led model suggest a bi-directional relationship between financial deepening and economic growth in South Korea,Taiwan, Bangladesh and Pakistan. For Singapore, Malaysia, Thailand, India and Myanmar, the evidence supported the "demand following" hypothesis. For the exportled model, causality results on export-led growth versus growth-led export are mixed and, in some cases, contradictory. When investment-led model is utilised, there exhibit one-way Granger causal relationship from investment to growth for South Korea and Thailand whereas the reverse relationship is shown in Singapore, Indonesia, Malaysia and Sri Lanka. The feedback relationship is found in the case of Taiwan, Bangladesh and Pakistan. Under the multivariate V AR framework, long-run relationships between the investigated variables are identified in a cointegrating framework, suggesting the increasing degree of interdependence of these three macroeconomic variables with economic growth. Overall result has purported the significance of open economy structure, and outward looking trade policies in stimulating the economic growth of many developing economies. Hence, the continuation of open-door economic policies in developing economies is warranted, and integrating these economies more closely to the international economies

Is slow what the slow university's about

This is the first of a trio of posts about the Slow University that started life as presentations in a seminar at the Institute for Advanced Studies in Durham University. In it, guest blogger Luke Martell, argues that we shouldn’t fetishise speed at the fast university. This distracts from what’s behind it. And we should ask whether slow is what the slow university’s really about

PRODUCTION OF METAL-BASED IMPLANTS FOR CYRO-FACIAL INJURIES (BLUEPRINTS)

The main objective of this project is to propose a design for a progressive die for the production of metal based implants for Cyro-facial injuries. The bulk of the work would be to produce the detailed design drawings or blueprints for each progressive die components and to suggest the appropriate process plans for the fabrication of the respective progressive die components. The main concentration is put in producing the blueprint~ of a progressive die to produce the I-shaped metal implants. Throughout the first semester, literature reviews are done to gain knowledge about the working principle of the progressive die and how to design the various die components needed in the progressive die. Other than that, literature reviews are also done to gain information about the minimum tolerances, clearances and angular relief that need to be applied to each die components to ensure the quality of the progressive die and also the metal implants that will be produced by the progressive die. The basic step in producing a progressive die is to produce the blank layout. There are many ways in laying out the scrap strip. However, for this particular project, the blanks are laid out by adopting the narrow-run, one-pass layout. To optimize the usage of the material strip while ensuring the quality of the produced implants, minimum bridge allowances are applied between blanks and between blanks and edges of the strip. After calculation, the blanking force needed to cut the blank from the strip is 33707.52 N and since the press capacities are usua:lly in tons, a press of more than 3. 789 tons should be chosen to produce this particular metal implants. Other than that, it is also found that, a total of 63 metal implants can be produced from a 1 m material strip. On the other hand, in designing the die components, care had been taken in assigning the correct clearances, angular relief, allowances and tolerances for each part of the die components. This is to ensure the success of the particular progressive die. In general, the material selected for the implants are titanium and stainless steel strips while for the die components, are tool steels, mild steel and cast steel. The main processes involved for fabricating the die components are Wire EDM and milling

Self-employment in Scotland : trends and its implications for productivity

Self-employment in Scotland has grown significantly in recent years, faster than in many other countries. It has accounted for almost half of overall employment growth over the past decade and over 80% of the growth in the number of businesses in Scotland. Self-employment in Scotland, however, accounts for just over 1 in 10 jobs, lower than in many other countries. This paper outlines recent trends in the growth in self-employment in Scotland, summarises the likely reasons, highlights the characteristics of the self-employed and considers the implications for productivity and economic growth. It notes that productivity levels of self-employed businesses are significantly lower than larger businesses, as are earnings of the self-employed vis-à-vis employees. The fast growth in the number of low productivity, self-employed businesses in Scotland may, in part, explain Scotland’s overall mediocre productivity performance

Environmental innocence and slow violence

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Slow-roll versus stochastic slow-roll inflation

We consider the classical wave equation with a thermal and Starobinsky-Vilenkin noise which in a slow-roll and long wave approximation describes the quantum fluctuations of the graviton-inflaton system in an expanding metric. We investigate the resulting consistent stochastic Einstein-Klein-Gordon system in the slow-roll regime. We show in some models that the slow-roll requirements (of the negligence of $\partial_{t}^{2}\phi$) can be satisfied in the probabilistic sense for the stochastic system with quantum and thermal noise for arbitrarily large time and an infinite range of fields. We calculate expectation values of some inflationary variables taking into account quantum and thermal noise. We show that the mean acceleration $\langle \partial_{t}^{2}a\rangle$ can be negative or positive (depending on the model) when the random fields take values beyond the classical range of inflation.Comment: 8 page

Slow Archaeology

An article on Slow Archaeology for a volume of North Dakota Quarterly dedicated to Slow