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We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock prices was more severe for firms that are intrinsically more dependent on external finance for working capital. The volume of capital flows has no significant effect on the severity of the credit crunch. However, the composition of capital flows matters: pre-crisis exposure to non-FDI capital inflows worsens the credit crunch, while exposure to FDI alleviates the liquidity constraint. Similar results also hold surrounding the Lehman Brothers bankruptcy
This paper contributes to explain the cross-country heterogeneity of the poverty response to changes in economic growth. It does so by focusing on the structure of output growth. The paper presents a two-sector theoretical model that clarifies the mechanism through which the sectoral composition of growth and associated labor intensity can affect workers' wages and, thus, poverty alleviation. Then in presents cross-country empirical evidence that analyzes first, the differential poverty-reducing impact of sectoral growth at various levels of disaggregation, and the role of unskilled labor intensity in such differential impact. The paper finds evidence that not only the size of economic growth but also its composition matters for poverty alleviation, with the largest contributuons from labor-intensive sectors (such as agriculture, construction, and manufacturing). The results are robust to the influence of outliers, alternative explanations, and various poverty measures.
Author : American Bar Association. House of Delegates Publisher : American Bar Association Page : 216 pages File Size : 11,2 MB Release : 2007 Category : Law ISBN : 9781590318737
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Marine dissolved organic matter (DOM) is a complex mixture of molecules found throughout the world's oceans. It plays a key role in the export, distribution, and sequestration of carbon in the oceanic water column, posited to be a source of atmospheric climate regulation. Biogeochemistry of Marine Dissolved Organic Matter, Second Edition, focuses on the chemical constituents of DOM and its biogeochemical, biological, and ecological significance in the global ocean, and provides a single, unique source for the references, information, and informed judgments of the community of marine biogeochemists. Presented by some of the world's leading scientists, this revised edition reports on the major advances in this area and includes new chapters covering the role of DOM in ancient ocean carbon cycles, the long term stability of marine DOM, the biophysical dynamics of DOM, fluvial DOM qualities and fate, and the Mediterranean Sea. Biogeochemistry of Marine Dissolved Organic Matter, Second Edition, is an extremely useful resource that helps people interested in the largest pool of active carbon on the planet (DOC) get a firm grounding on the general paradigms and many of the relevant references on this topic. Features up-to-date knowledge of DOM, including five new chapters The only published work to synthesize recent research on dissolved organic carbon in the Mediterranean Sea Includes chapters that address inputs from freshwater terrestrial DOM
Author : National Research Council Publisher : National Academies Press Page : 255 pages File Size : 30,28 MB Release : 2015-07-15 Category : Business & Economics ISBN : 0309316855
The past half-century has witnessed a dramatic increase in the scale and complexity of scientific research. The growing scale of science has been accompanied by a shift toward collaborative research, referred to as "team science." Scientific research is increasingly conducted by small teams and larger groups rather than individual investigators, but the challenges of collaboration can slow these teams' progress in achieving their scientific goals. How does a team-based approach work, and how can universities and research institutions support teams? Enhancing the Effectiveness of Team Science synthesizes and integrates the available research to provide guidance on assembling the science team; leadership, education and professional development for science teams and groups. It also examines institutional and organizational structures and policies to support science teams and identifies areas where further research is needed to help science teams and groups achieve their scientific and translational goals. This report offers major public policy recommendations for science research agencies and policymakers, as well as recommendations for individual scientists, disciplinary associations, and research universities. Enhancing the Effectiveness of Team Science will be of interest to university research administrators, team science leaders, science faculty, and graduate and postdoctoral students.
"Our world is a diverse place. It is covered with growing plants, flowing rivers, and roaring winds. And it's all made of matter. Even you and this book are made of matter. Matter can be broken into tiny pieces. These pieces fit together to shape the world."--
National Academies of Sciences, Engineering, and Medicine
Author : National Academies of Sciences, Engineering, and Medicine Publisher : National Academies Press Page : 643 pages File Size : 11,8 MB Release : 2017-07-13 Category : Social Science ISBN : 0309444454
The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.