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Institutional Quality, Economic Growth and Fluctuations of Oil Prices in Oil Dependent Countries: A Panel Cointegration Approach  [PDF]
Alireza Keikha, Ahmadali Keikha, Mohsen Mehrara
Modern Economy (ME) , 2012, DOI: 10.4236/me.2012.32030
Abstract: The principle aim of this investigation is the study of fluctuations of oil prices impacts on economic growth of oil-dependent countries with respect to institutional quality. For this purpose we use panel cointegration methodology and error-correction model for 32 oil abundant countries covering the period 1975-2010. The result implies that fluctua- tions of oil prices impact on economic growth of countries depend on institutional quality index so that the impact of fluctuation is avoided by countries with sufficiently good institutions. More ever, the long-run ratio of investment to products effect is negative and small that shows the quality of investment projects is more importance than the quantity of them in the economic growth of these countries. The effect of trade openness on economic growth in the long-run is positive, statistically significant, and economically sizable.
Groundwater Level Changes since 1978 in an African City on Basement Rocks: The Case of the CIEH Borehole in Ouagadougou (Burkina Faso)  [PDF]
Ali Houmadi Mouhouyouddine, Suzanne Yameogo, Pierre Genthon, Jean Emmanuel Paturel, Maurice Guilliod
Journal of Water Resource and Protection (JWARP) , 2017, DOI: 10.4236/jwarp.2017.910072
Abstract: The CIEH piezometer, located in the center of Ouagadougou city presents a water level record spanning the West African Drought which peaked during the 80s and 90s. Its water level is investigated as a potential proxy for groundwater water resources in West African basement rock aquifers submitted to climate changes. 23 boreholes and wells in various land uses and within a 2 km radius around the CIEH piezometer were monitored during the 2013-2014 hydrologic year. The minimum water level occurred in May, at the end of the dry season, while the maximum took place in October, one month after the end of the rainy season. The mean water level amplitude is 3 m, the minimum amplitude being reached at the CIEH piezometer (0.76 m). Moreover, the CIEH piezometer is located in a 2 m amplitude water table depression either in May or in October. Simplified 2d modeling using a general basement aquifer structure shows that (i) the water level in the piezometer is under ongoing influence of the spillway raise of the nearby dam#3 lake in 2002, (ii) the whole 1978-2004 period cannot be modelled with constant parameters. A 3% decrease of water uptake is adopted after 1985, presumably resulting from land use changes in the Ouagadougou city. The water table at the CIEH piezometer is presently at its 1978 level, which can considered as a pre-drought value. However this includes a 1.5 m contribution of the two abovementioned anthropic effects Further quantitative interpretations of the CIEH piezometer record will require additional geophysical and hydrological investigations.
The Evolution of Urban Economic Effect Regions in Jiangsu Province since 1978

ZHU Jie,GUAN Weihua,JIANG Zhixin,ZHEN Feng,

地理学报 , 2007,
Abstract: According to the theory of abrupt climatic change, the regional economic development process in Jiangsu province since 1978 is divided into three periods in this paper. Then the paper employs urban centrality index and time cost for transportation, instead of the city scale and the distance factor, to modify the original potential model. Based on the grid arithmetic of GIS methodology, the paper identifies the scope of urban economic effect regions (UEERs) for central cities at different ranks in Jiangsu province of the main years. Accordingly, Jiangsu province can be separated into different ranks of UEERs. Consequently, the characteristics of UEERs in Jiangsu province since 1978 can be summarized below:(1) the spatial structure changes from South-North to East-West;(2) the UEERs in the southexpands towards north;and (3) the new central cities in southern Jiangsu province occur. Furthermore, the mechanism of evolution of UEERs in Jiangsu is also analyzed in this paper.The development of transportation axes, the diversities of economic development level and the disparities among the input of social production factors are the three main reasons accountable for the changing patterns of UEERs. The effects of transportation are measured by density of transportation network of each county or city which is calculated by different weighed values for highways, expressways and so on. The economic development level measured by GDP per capita is a direct way to reflect the disparities of capability for central cities. And the influence of social production factors is weighed by analyzing the index of total population, fixed assets investment per capita and the number of the labor force. It is concluded that transportation axes play the most important role in the spatial structure formation of UEERs among the three factors;besides, the capital-intensive factor input has greater influence on UEERs than the labor-intensive one does to a great extent.
On the Power of Centralization in Distributed Processing  [PDF]
Kuang Xu
Computer Science , 2012,
Abstract: In this thesis, we propose and analyze a multi-server model that captures a performance trade-off between centralized and distributed processing. In our model, a fraction $p$ of an available resource is deployed in a centralized manner (e.g., to serve a most-loaded station) while the remaining fraction $1-p$ is allocated to local servers that can only serve requests addressed specifically to their respective stations. Using a fluid model approach, we demonstrate a surprising phase transition in the steady-state delay, as $p$ changes: in the limit of a large number of stations, and when any amount of centralization is available ($p>0$), the average queue length in steady state scales as $\log_{1/(1-p)} 1/(1-\lambda)$ when the traffic intensity $\lambda$ goes to 1. This is exponentially smaller than the usual M/M/1-queue delay scaling of $1/(1-\lambda)$, obtained when all resources are fully allocated to local stations ($p=0$). This indicates a strong qualitative impact of even a small degree of centralization. We prove convergence to a fluid limit, and characterize both the transient and steady-state behavior of the finite system, in the limit as the number of stations $N$ goes to infinity. We show that the sequence of queue-length processes converges to a unique fluid trajectory (over any finite time interval, as $N$ approaches infinity, and that this fluid trajectory converges to a unique invariant state $v^I$, for which a simple closed-form expression is obtained. We also show that the steady-state distribution of the $N$-server system concentrates on $v^I$ as $N$ goes to infinity.
Centralization and Decentralization of Public Policy in a Complex Framework  [PDF]
Eurasian Journal of Business and Economics , 2009,
Abstract: The public economic literature of the past century is characterized by a traditional paradigm that ascribes little attention to the spatial dimension. However, contemporary globalization requires that researchers and economists expand their perspectives to consider space conceptualization. What is required in the 21st century is a richer and more realistic framework that broadens existing concepts of socio-economic analysis while overcoming narrow national borders. Although national governments will remain prominent performers in the global market, regional and local governments cannot be ignored because citizens worldwide are exerting greater self-determination in influencing governmental decisions. This paper is focused on the opportunity to analyze the governance of decentralization by the new optimizing procedures provided by complex system theory. The first section of the paper explores the positive and normative issues related to centralization and decentralization in a globalized framework as well as the increased interdependence in power sharing among different jurisdictional level. In the second section, Kauffman’s (1993) contributions are examined as a means of determining if the fitness landscape allows combining the institutional evolution. Finally, this paper concludes highlighting that complex system theory is one of the possible tools useful to redesign the map of institutional sharing power in an era of globalization, considering that it allows catching Pareto improving in the level of welfare.
The Role of the Controllership Regarding the Degree of Centralization of Organizations  [PDF]
Cleber Marcos Rodniski,Carlos Alberto Diehl
Revista Sociedade, Contabilidade e Gest?o , 2012,
Abstract: The aim of this paper is to discuss the role of controllership in organizations concerning the degree of centralization. For this purpose, a theoretical essay was developed in which the centralization and decentralization are discussed, addressing organizational structures, decision making and controllership. It was found that in organizations with a greater degree of centralization the accounting information system tends to be focused on the overall result of the organization, little oriented to the control of results and formed by non-financial and qualitative information. The budget tends to be used to indicate the distribution and tracking of expenditures. In organizations with a lower degree of centralization, there is a need for an information system oriented to the result of the divisions, with decentralized reports available to managers. The budget, in addition to indicating the destination of resources, must show the origin of the results, given that each divisional manager is responsible for the cost budgeting, revenues and investments of his/her division.
Locational Changes of Banking Services in the Less Developed Region of China since 1980: The Case of Henan Province

LI Xiaojian,ZHOU Xiongfei,WEI Chunjiang,KONG Yunfeng,

地理学报 , 2006,
Abstract: Geography of finance has attracted great attention of geographers and other relevant scholars since the 1990s. The literature indicates that the investigation on changes of locations and spatial systems of banking services is one of the main themes. Results based on developed countries have found the tendency of centralization in the spatial systems both in international and sub-national scales. Globalization, deregulation, and technological change have been the main factors accounting for the changes. As compared to the developed economies, less developed region in China has been developing with different backgrounds. In addition to the relatively slowing-down globalization, its economy stays at the lower level but the growth is fast. The impact of technology is increasing but not practically strong. Henan as China's largest province serves as a typical case as its per capita GDP is lower than the national average; its annual growth rate has been among the national top five in the past five years. By using survey data from Henan Province, this paper found the similar centralization of the locations of banking services. More services have been shifted from counties to central cities, particularly the regional cities attracting more services. Many factors may explain these changes. Institutional changes, however, play a significant role. Banks were quasi-government authorities before 1978. Their organization was closely linked with hierarchy of government structure. Since China's reform and establishment of market-oriented economy, banks have been gradually operating as firms. Economic growth and its consequent requirement for banking services become the main factors determining bank locations. The particular importance of institutional factor in spatial systems of banking services can be proved at high significant levels in pooled OLS stimulation models.The questionnaire interviews of 58 bank offices further support the findings from the quantitative analysis. Locations of bank offices in Zhengzhou, the capital city of Henan Province, indicated a spreading coverage along the urban expansion. "Higher income level" was evaluated by the sampling offices as a most important factor in the formation of bank networks since 1979. Therefore, in the areas with increasing number of fast growth companies, as well as the residential areas with rich class, concentration of banking services has been very evident. Spatial restructuring of banking services provides convenience for prosperous areas, notwithstanding, the peripheries outside the central areas may suffer from disadvantage in banking services. Attention should be given to its research.
Management of radial clubhand with gradual distraction followed by centralization  [cached]
Saini Narender,Patni Purnima,Gupta S,Chaudhary Lokesh
Indian Journal of Orthopaedics , 2009,
Abstract: Background: Treatment of radial clubhand has progressed over the years from no treatment to aggressive surgical correction. Various surgical methods of correction have been described; Centralization of the carpus over the distal end of the ulna has become the method of choice. Corrective casting prior to centralization is an easy and effective method of obtaining soft tissue stretching before any definitive procedure is undertaken. Moreover, it helps put the limb in a correct position. The outcome of deformity correction by serial casting / Jess0 distractor followed by centralization is discussed. Materials and Methods: In a prospective study, of 17 cases with 18 radial clubhands of Heikel′s Grade III and IV (with average age 11 months (range 20 days - 24 months) with M:F of 2.6:1, were treated by gradual soft tissue stretching using corrective cast (14 cases) and JESS distraction (4 cases), followed by centralization (16 cases) or radialization (2 cases) and tendon transfers. Results: The average correction attained during the study was 71° of radial deviation and 31° of volar flexion. The average third metacarpal to distal ulna angle in anteroposterior and lateral view at final follow-up was 7° in both views. Angle of movement at elbow showed a small increase from 99° to 101° during the follow-up period. However, the range of movement at fingers showed increase in stiffness during the follow-up. No injury occurred to the distal ulnar epiphysis during the operative intervention. The results at the final follow-up, at the end of 2 years were graded on the basis of the criteria of F.W. Bora, and of Bayne and Klug. Considering the criteria of F.W. Bora, satisfactory result was shown by nine of the 18 hands (50%) while 16 out of 18 hands (89%) showed good or satisfactory result based on deformity criteria of Bayne and Klug. Conclusion: The management of radial clubhand by gradual corrective cast or Jess0 distractor followed by centralization and tendon transfers in children is an acceptable method of treatment with consistently satisfactory results, both functional and cosmetic.
Centralization Trade-off with Non-Uniform Taxation  [PDF]
Martin Gregor,Peter Tuchyňa
AUCO Czech Economic Review , 2007,
Abstract: When local public goods are provided by a centralized authority, spillovers are internalized, but heterogeneity in preferences may be suppressed. Besley and Coate (2003) recently examined this classic trade-off for a uniform tax regime with strategic delegation. Here, we extend their approach by allowing for a non-uniform tax regime. We find that centralization with nonuniform taxation unambiguously increases welfare in comparison to uniform-tax centralization. With non-cooperative legislators coming from symmetric districts, our centralization dominates decentralization for any degree of spillovers. In other cases, non-uniform taxation at least improves the odds of centralization, if measured by a utilitarian yardstick.
Centralization versus Delegation in an Experimental Capital Budgeting Setting  [PDF]
Markus C. Arnold,Robert M. Gillenkirch
BuR : Business Research , 2011,
Abstract: In an experiment, we model two stylized facts about capital budgeting practice, budgetary slack creation and delegation of decision-making authority. In our setting, under centralization, headquarters announces a budget, the division manager gives a cost report, and headquarters decides on the project. Under delegation, headquarters allocates a budget to the manager, and the manager is authorized to make the investment decision. We argue that the ability of headquarters to commit to a budget moderates the effect of delegation, and we find evidence in favor of our argument as there is an interaction effect of delegation and commitment to budgets. The effects of delegation are particularly strong when budgets are non-binding as delegation serves as a substitute for commitment in this case. This leads to smaller expenditures and to a higher headquarters’ payoff under delegation than under centralization. In contrast, when headquarters can commit to the budget, the descriptive data are consistent with our conjectures about the effects of honesty preferences, but the effects are too small to be significant.
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