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Shadow banking activity and entrusted loans in a DSGE model of China
Get PDFThis paper examines how the risky lending activities of the state‐owned enterprises (SOEs) affect the effectiveness of monetary and fiscal policy in China with a shadow banking sector. We develop a dynamic stochastic general equilibrium (DSGE) macroeconomic model with two production sectors, where the SOEs have access to low cost funds from the commercial banks (also mainly state‐owned) and on‐lend to the private sector in the form of entrusted loans. The Bayesian estimation results show that higher restrictions on bank credit push SOEs to engage in more shadow banking in this form which dampens the effectiveness of contractionary monetary policy. Expansionary fiscal policy increases output, but crowds out private investment, which can further drain the financial market and exert a detrimental effect on the Chinese economy
New advances in catalysts for polystyrene hydrogenation
Get PDFPolystyrene is one of the most widely used plastics, and could be catalytic hydrogenated to polycyclohexylethylene with improved physical properties. The research progress in the efficiency palladium catalyst for polystyrene hydrogenation was illustrated and reviewed, further development was discussed
Supercapattery: merit merge of capacitive and Nernstian charge storage mechanisms
Get PDFSupercapattery is the generic name for hybrids of supercapacitor and rechargeable battery. Batteries store charge via Faradaic processes, involving reversible transfer of localised or zone-delocalised valence electrons. The former is governed by the Nernst equation. The latter leads to pseudocapacitance (or Faradaic capacitance) which may be differentiated from electric double layer capacitance with spectroscopic assistance such as electron spin resonance. Since capacitive storage is the basis of supercapacitors, the combination of capacitive and Nernstian mechanisms has dominated supercapattery research since 2018, covering nanostructured and compounded metal oxides and sulfides, water-in-salt and redox active electrolytes and bipolar stacks of multi-cells. The technical achievements so far, such as specific energy of 270 Wh/kg in aqueous electrolyte, and charging-discharging for over 5000 cycles, benchmark a challenging but promising future of supercapattery
The use of augmented reality for solving arithmetic problems for preschool children
Get PDFPreschool children are required to acquire problem-solving ability and related time and sequence concepts to solve mathematical story problems. The maturation and pervasion of disruptive technologies, such as augmented reality (AR), may help preschool children to better acquire this knowledge and skills. However, it is still unknown how preschoolers would make use of AR as a learning tool for tackling arithmetic story problems with the involvement of the concepts of time and sequence. Consequently, the present study attempted to employ direct observation and interview methods to compare and gain insights into young children’s learning behaviors under traditional 2D pictorial and AR contexts. In line with the early development trajectories of a normal child aged 4–6 years old, a series of planned arithmetic problems which primarily comprised seriation (e.g. first, second, third) and scheduling (e.g. arriving, leaving) concepts were structured in scenario-based stories and designed specifically for preschool children. The findings of the current study reveal that AR intervention may well develop the problem-solving and independent mathematical thinking ability for preschool children by encouraging them to consider all information involved in the story problems, rather than simply guessing the answer from a 2D pictorial mode. Finally, based on the fact that the majority of preschool children still rely on a concrete counting method, the recommendation is to integrate AR technology into the traditional pictorial scenarios for the purpose of supporting the development of children’s ability to solve arithmetic story problem
Describing return to work after stroke : a feasibility trial of 12-month outcomes
Get PDFObjective:
Stroke is the greatest cause of disability in adults. A quarter of strokes in the UK affect people of working age, yet under half of them return to work after stroke. There has been little investigation into what constitutes “return to work” following stroke. The aim of this study is to describe the work metrics of stroke survivor participants in a feasibility randomized controlled trial of an early stroke specific vocational rehabilitation intervention.
Methods:
Retrospective analysis of trial data. Metrics on work status, working hours, workplace accommodations and costs were extracted from trial out - comes gathered by postal questionnaire at 3, 6, and 12 months’ post-randomization for 46 stroke participants in a feasibility randomized controlled trial. Participants were randomized to receive vocational rehabilitation (intervention) or usual care (control).
Results:
Two-thirds ( n = 29; 63%) of participants re - turned to work at some point in the 12 months following stroke. Participants took a mean of 90 days to return to work. Most returned to the same role with an existing employer. Only one-third of participants who were employed full-time at stroke onset were working full-time at 12 months post-stroke. Most participants experienced a reduction in pre-stroke earnings. Workplace accommodations were more common among intervention group participants. More intervention participants than control participants reported satisfaction with work at both 6 and 12 months post-randomization.
Conclusion:
This study illustrates the heterogeneous nature of return to work and the dramatic impact of stroke on work status, working hours and income. Longitudinal research should explore the socioeconomic legacy of stroke and include clear definitions of work and accurate measures of working hours and income from all sources
Impacts of pollution abatement projects on happiness: an exploratory study in China
Get PDFPollution has been a global concern in recent decades, promoting related actions in an increasing number of areas. While pollution can lead to unhappiness, will pollution abatement simply increase people's happiness? We analyze relevant happiness data collected before and after China's South-to-North Water Diversion Eastern Route Pollution Control Project to test this idea. The empirical results indicate that the pollution abatement project may not enhance happiness in its duration. Some residents may temporarily sacrifice something (such as employment or income), which offsets the positive effect of environmental improvement on their happiness. In subgroup analyses, rural people are found to benefit more from environmental improvement and suffer less in happiness compared with the urban, and so are low-income people compared with the high-income ones. The findings offer new insights into the costs of pollution in terms of happiness and highlight the need to abate pollution meticulously. © 2020 Elsevier Lt
Access to finance, technology investments and exporting decisions of Indian services firms
Get PDFThis study provides fresh empirical evidence on the influence of various financing sources on firms’ technology investments and exporting decisions using a panel of firms from the service sector in India during the period 1999–2010. Allowing both activities to be jointly determined, our results show that the source of finance matters for exporting and investing in technology. Moreover, the importance of different types of finance varies across industries in the service sector. Overall, we find that internal funds and non-conventional sources of finance play an important role for exporting and investing in technology in both modern and traditional services. However, funding from conventional financial markets exerts divergent effects across service industries: while traditional service firms use resources from the banking sector to fund their technological investments, firms in the modern service sector rely more on funds raised through equity markets to support their exporting and technological efforts. These results contribute to the academic literature and policy debate on the importance of financial mechanisms to promote firms’ strategic investment decisions
Understanding the factors controlling the photo-oxidation of natural DNA by enantiomerically pure intercalating ruthenium polypyridyl complexes through TA/TRIR studies with polydeoxynucleotides and mixed sequence oligodeoxynucleotides
Get PDFRuthenium polypyridyl complexes which can sensitise the photo-oxidation of nucleic acids and other biological molecules show potential for photo-therapeutic applications. In this article a combination of transient visible absorption (TrA) and time-resolved infra-red (TRIR) spectroscopy are used to compare the photo-oxidation of guanine by the enantiomers of [Ru(TAP)2(dppz)]2+ in both polymeric {poly(dG-dC), poly(dA-dT) and natural DNA} and small mixed-sequence duplex-forming oligodeoxynucleotides. The products of electron transfer are readily monitored by the appearance of a characteristic TRIR band centred at ca. 1700 cm-1 for the guanine radical cation and a band centered at ca. 515 nm in the TrA for the reduced ruthenium complex. It is found that efficient electron transfer requires that the complex be intercalated at a G-C base-pair containing site. Significantly, changes in the nucleobase vibrations of the TRIR spectra induced by the bound excited state before electron transfer takes place are used to identify preferred intercalation sites in mixed-sequence oligodeoxynucleotides and natural DNA. Interestingly, with natural DNA, while it is found that quenching is inefficient in the picosecond range, a slower electron transfer process occurs, which is not found with the mixed-sequence duplex-forming oligodeoxynucleotides studied
Foreign entry liberalization and export quality: evidence from China
Get PDFThis paper examines the impact of foreign entry deregulation in China on the export price and quality of manufacturing firms through input-output linkage. We create a unique dataset describing the extent of regulatory control over foreign entry across approximately 900 industries covering all primary, manufacturing and services sectors. Results suggest foreign entry deregulation encourages firms to improve product quality and increase export prices. Deregulation in the manufacturing sectors has more impact on downstream export price and quality, compared with services sectors. Moreover, firms having larger imported inputs benefit more from foreign entry deregulation. These effects are robust to alternative specifications
Slice of life in a live and wired masquerade: playful prosumption as identity work and performance in an identity college Bilibili
Get PDFThis article investigates Chinese urban youth’s mediated ‘slice of life’ and playful encounters as part of their identity construction and performance work on Bilibili, one of China’s most influential video-sharing social media sites mediating anime, comics, games and novels. Using a mix-method approach of digital ethnography, participant observation, interviews and data visualisation, this article examines fans’ hermeneutic practices through anime, comic, game and novel prosumption, exemplified by danmaku: ‘bullet screen’, barrage-like comments overlaid on videos. This article argues that Bilibili works as an ‘identity college’ for fans to perform various roles and explore their hybrid identities in a social-hermeneutic engagement process. In particular, the function of anonymous danmaku comments will be closely analysed as it offers a quasi-real-time engagement experience for fans and helps shape fans’ social self. Following a symbolic interactionist tradition, Mead’s ‘generalised other’ and Goffman’s dramaturgical theory are contextualised in the Chinese socio-cultural milieu where fans’ identity performance is regarded as masquerade. Departing from the moral panic rhetoric that Generation Z is ‘amused to death’, becoming ‘infantile and animalised’, or even enslaved by their desires and capable only of ‘cold intimacies’, the findings of this explorative study present a more complex understanding of Chinese youth’s identity work through participatory social media use and networked fandom
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