Long-term Dynamic Equilibrium Research Articles

Empirical analysis on the effect of foreign direct investment on the economic growth of Guangdong province

The paper studies the relation between FDI and economic growth of Guangdong Province by the time series data of the GDP and FDI of Guangdong Province from 1982 to 2006. Granger causality test shows that there exists a unilateral cause-and-effect relation both them. The co-integration test and error correction model shows that there is longterm dynamic equilibrium relationship both economic growth and FDI in Guangdong province. And Long-term study shows that economic growth and foreign direct investment are positively related.

Empirical analysis on the effect of foreign direct investment and employment on the economic growth of Guangzhou City

The paper studies the relation of Guangzhou's economic growth,the labor employment and FDI by analysising of the time series data from 1979 to 2006 in Guangzhou. The results show that there are strong and positive relations among them. And the cointegration test and error correction model also show that there exists long-term dynamic equilibrium relationship among the economic growth and FDI, employment of Guangzhou city.

An investigation of long-run dynamic relationship of Korean and Indian futures indexes

We investigate the nature of the long-term dynamic relationship between the futures indexes of Korea and India. Both the Kospi 200 futures index and Nifty futures index are found to be non-stationary and cointegrated, meaning thereby that a long-term dynamic equilibrium relationship exists between them along with a Granger cause bidirectional relationship. The VECM results indicate that a lagged relationship exists between the two indexes. While lag 1 and lag 3 are statistically significant for Kospi 200 futures – Nifty futures, lag 4 and lag 6 are significant for Nifty futures – Kospi 200 futures. It is suggested that while information on Kospi 200 futures is more instantaneously discounted by the Nifty futures, the information on Nifty futures is relatively slowly discounted by the Kospi 200 futures index. The impulse response analysis suggests that the price discovery process is more efficient for Kospi 200 futures index than for Nifty futures index.

Environmental setting, morphology and volumetric evolution of the Middelkerke Bank (southern North Sea)

The Middelkerke Bank, a tidal sandbank located in the southern North Sea on the Belgian continental platform has been the object of a multidisciplinary and international research project. The morphological and hydrodynamical setting of the study area is presented. A complete side-scan sonar coverage of the bank allowed a detailed analysis of the morphology of the bank and of its superimposed bedforms. Large dunes cover the flanks and summit of the Middelkerke Bank. They have a constant orientation, a height ranging from 0.5 to 5 m, a wavelength from 75 to 150 m and in most cases an asymmetrical profile. The slopes of both lee and stoss flanks are very low. Small and medium dune fields occur on the entire bank and in the adjacent swales. They are 2-D and present a wavelength ranging from 1 to 15 m. Flood and ebb oriented small dunes cover respectively the western and eastern flank of the bank. Bathymetric surveying of the Middelkerke Bank was carried out to assess the importance of volumetric variations of the bank mass caused by seasonal factors. Results show that changes in the bank volume can be quite important. The bank's volume decreases in periods of heavy weather after which the process of sand uppiling acting during long periods of fair weather conditions causes the bank to restore itself. Volumetric variations of the total bank volume in a winter-summer period can range along certain sections of the bank from −21% to +26%. Despite these large seasonal volumetric variations, the bank shows a long-term dynamic equilibrium as proven by the obtained evolution trend.

Ductile creep and compaction: A mechanism for transiently increasing fluid pressure in mostly sealed fault zones

A simple cyclic process is proposed to explain why major strike-slip fault zones, including the San Andreas, are weak. Field and laboratory studies suggest that the fluid within fault zones is often mostly sealed from that in the surrounding country rock. Ductile creep driven by the difference between fluid pressure and lithostatic pressure within a fault zone leads to compaction that increases fluid pressure. The increased fluid pressure allows frictional failure in earthquakes at shear tractions far below those required when fluid pressure is hydrostatic. The frictional slip associated with earthquakes creates porosity in the fault zone. The cycle adjusts so that no net porosity is created (if the fault zone remains constant width). The fluid pressure within the fault zone reaches long-term dynamic equilibrium with the (hydrostatic) pressure in the country rock. One-dimensional models of this process lead to repeatable and predictable earthquake cycles. However, even modest complexity, such as two parallel fault splays with different pressure histories, will lead to complicated earthquake cycles. Two-dimensional calculations allowed computation of stress and fluid pressure as a function of depth but had complicated behavior with the unacceptable feature that numerical nodes failed one at a time rather than in large earthquakes. A possible way to remove this unphysical feature from the models would be to include a failure law in which the coefficient of friction increases at first with frictional slip, stabilizing the fault, and then decreases with further slip, destabilizing it.