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A Contribution to the Empirics of Finance-Growth Nexus in China: A Complex System Perspective
Jean Claude Maswana 연세대학교 동서문제연구원 2009 Global economic review Vol.38 No.1
The paper empirically examines the causal interactions between Chinese financial development and economic growth using the perspective of complex systems as a metaphor in an attempt to provide a better understanding of the coevolution of China`s real and financial sectors. Using Hsiao`s version of the Granger causality tests, the empirical results support a complex set of bidirectional causality between the financial development proxies and economic growth variables. Despite numerous alleged financial intermediation`s inefficiencies, bidirectional causality would suggest a coherent and effective finance-growth ecosystem.
South Africa's Public Debt: Long-term Dependence, Structural Breaks and Multifractality
Jean-Claude Kouakou Brou,Jamal Bouoiyour 세종대학교 경제통합연구소 2023 Journal of Economic Integration Vol.38 No.4
This paper aims to analyse the evolution of public debt in South Africa using new and original methods. The case of South Africa has been little studied in the literature on debt because the level of debt in this country remains reasonable. Moreover, the use of non-standard methods allows for a fine-grained analysis of the public debt time series and, consequently, to draw unprecedented conclusions. Using the Multifractal Detrended Fluctuation Analysis (MF-DFA) method borrowed from solid state physics and medicine, we conclude that South Africa's debt has a multifractal character, which originates from the long memory effect. Thus, South Africa's public debt is unsustainable. The inefficiency of this market has been particularly exacerbated by the various shocks throughout the sample period.
POTENTIAL APPLICATIONS FOR NUCLEAR ENERGY BESIDES ELECTRICITY GENERATION: A GLOBAL PERSPECTIVE
JEAN-CLAUDE GAUTHIER 한국원자력학회 2007 Nuclear Engineering and Technology Vol.39 No.1
Energy supply is increasingly showing up as a major issue for electricity supply, transportation, settlement, and process heat industrial supply including hydrogen production. Nuclear power is part of the solution. For electricity supply, as exemplified in Finland and France, the EPR brings an immediate answer; HTR could bring another solution in some specific cases. For other supply, mostly heat, the HTR brings a solution inaccessible to conventional nuclear power plants for very high or even high temperature. As fossil fuels costs increase and efforts to avoid generation of Greenhouse gases are implemented, a market for nuclear generated process heat will be developed. Following active developments in the 80’s, HTR have been put on the back burner up to 5 years ago. Light water reactors are widely dominating the nuclear production field today. However, interest in the HTR technology was renewed in the past few years. Several commercial projects are actively promoted, most of them aiming at electricity production. ANTARES is today AREVA’s response to the cogeneration market. It distinguishes itself from other concepts with its indirect cycle design powering a combined cycle power plant. Several reasons support this design choice, one of the most important of which is the design flexibility to adapt readily to combined heat and power applications. From the start, AREVA made the choice of such flexibility with the belief that the HTR market is not so much in competition with LWR in the sole electricity market but in the specific added value market of cogeneration and process heat. In view of the volatility of the costs of fossil fuels, AREVA’s choice brings to the large industrial heat applications the fuel cost predictability of nuclear fuel with the efficiency of a high temperature heat source free of Greenhouse gases emissions. The ANTARES module produces 600 MWth which can be split into the required process heat, the remaining power drives an adapted prorated electric plant. Depending on the process heat temperature and power needs, up to 80 % of the nuclear heat is converted into useful power. An important feature of the design is the standardization of the heat source, as independent as possible of the process heat application. This should expedite licensing. The essential conditions for success include: Timely adapted licensing process and regulations, codes and standards for such application and design An industry oriented R&D program to meet the technological challenges making the best use of the international collaboration. Gen IV could be the vector Identification of an end user (or a consortium of) willing to fund a FOAK
Social Equity in Urban Development. The Leipzig Experience.
Jean-Claude Garcia-Zamor 한국행정학회 2009 International Review of Public Administration Vol.14 No.2
The article examines a unique experience in applying social equity in urban development in the city of Leipzig in the former East Germany. During the socialist era, many had fled to the West leaving Leipzig with many empty homes and office buildings. Recently, city officials took advantage of the situation as an opportunity to initiate a period of social transformation. They developed a plan to reposition a city with a surfeit of buildings and space in such a way as to preserve the qualities of that city, seize the opportunities presented by the transformation, and ensure that the city remains exciting, safe, and attractive for its inhabitants. Key projects were initiated to allow people in need of low-cost housing to use legally vacant dwellings. The strategy adopted by Leipzig is not a universal model that can be applied to all cities since each city has its own socio-economic, political, and legal systems that provide a framework for workable solutions. But the way Leipzig faces its challenge could be an inspiration for other cities that might want to borrow only some of the transferable features of the Leipzig solution to design their own responses to a similar problem.