Earticle

Given the rapid growth of foreign direct investment in Mongolia, this subject is a central concern of Mongolian government policymakers and foreign invested companies. This study explores the determinants of foreign direct investment inflows into Mongolia by country using data of 35 countries from 1990 to 2009 by pooled OLS and random effects estimations. Evidence from the past twenty years shows that main significantly positive influences are the market size of host & source country, exchange rate and “mining” dummy. “Border” dummy has significantly positive by OLS but insignificantly by random effects regression. Additionally the wage rate ratio of Mongolia to source country has estimated positively related to FDI inflows against the expected hypothesis. It has deciphered by two reasons. At first, the higher wages paid by the foreign firms may also results in the higher wages in the domestic firms. Second, the economic growth provides both FDI improvement and higher wage level. Significantly negative influences include distance from Mongolia to source country and lending rate of source country. But the Mongolian corporate tax rate has resulted insignificantly negative. It has deduced by two basic arguments. First, the Mongolian corporate tax rate was less than that of top investor countries from 1990 to 2010. And secondly, industries and companies, which active in territory of Mongolia, could enjoy some tax discounts and exemptions according to the Mongolian laws.

중국경제는 2000년대 들어서도 10% 내외의 성장률을 보이며 고성장을 지속하여 왔으나 금년에는 8%대 성장에 그칠 것이라는 전망이 지배적이다. 이러한 성장률 하락은 국외수요 부진에 따른 경기적 측면과 함께 경제발전단계에서 성장률의 추세적 하락을 초래하는 생산요소 등의 구조적 변화에도 하는 것으로 평가된다. 2012년 중국경제의 8%대 성장은 그동안 상당기간 플러스 산출갭이 지속된데 른 대내외 불균형을 해소할 수 있는 잠재성장률 수준으로의 연착륙으로 평가되며 신규고용 창출을 통한 사회안정을 위해 필요한 성장의 하한선으로도 인식된다. 향후 중국정부는 잠재성장률 수준의 8%대 성장률을 받아들이면서 지속가능한 성장기반 구축에 적극 나설 것으로 전망된다. 성장률이 8%대를 하회할 정도로 하방리스크가 증대되는 상황에서는 경기 완충을 위한 적극적인 재정개입을 실시할 것으로 예상되지만 8%대 수준의 성장률에 대해서는 2008년 글로벌 위기시와 같은 대폭적 완화기조로 나서지는 않을 것으로 전망된다.

Though Chinese economy is continuing to grow rapidly in 2000s with about 10% growth rate, many thinks that the growth will stop at the rate of 8% this year. It is assessed that the decline of growth is due to waning overseas demand and structural changes of production line. However, 8% growth of Chinese economy in 2012 is considered as a soft landing on the level of potential growth rate which might be able to resolve the internal and external imbalances caused by long-term-continued positive output gap and a low limit of growth which is needed for social stability through employment creation. Henceforth, Chinese government is expected to accept the downturn and to establish sustainable schemes for fundamental growth actively. In the situation of increasing downside risk of under 8% of growth rate, it is likely that the active financial intervention is made to ease economic impact. But when the growth rate is high enough in the level of 8%, the substantial relaxation of monetary policy which was introduced in 2008 global financial crises is not needed.

A diesel engine requires close tolerances to achieve its compression ratio. The air entering the engine must be clean, free of debris and as cool as possible. Also to improve engine’s efficiency, the compressed air must be cooled after being compressed. Development of Variable Counter-current Distribution Control (VCDC) technology ensures proper air intake and exhaust system. In this regard, design of valve controller and most importantly valve mixer mechanism with fin arrangements has taken into consideration. The term counter-current indicates the valve controller attachments and valve mixer position layout. Valve controller controls the intake airflow at a significant level and the valve mixture distributes the air to a form of streamline through the fin arrangements. There is no possibility of vortex generation which is important for smooth and linear flow of air inside the engine cylinder. A swirl combustion inside the combustion chamber take place that results uniform combustion, increase the flame propagation speed, overcoming the differences of turbulent flow, reduce the flame to burn, improves the function of the flame diffusion and serves to reduce the airflow noise. Pressure distribution ensures greater combustion pressure that results higher compression ratio as the air is compressed first and then the fuel injected which allow the IC diesel engine to be efficient.

Recent economic calamities such as the 1997 Asian financial crisis have amply demonstrated the need for increased economic integration in the East Asian economic region. While various forms of economic cooperation are possible, it is important to identify groups, or clusters, of countries that are similar to each other economically. Such similarity not only has been shown to be associated with the increased bilateral trade flows, but also with the increased net welfare gains to the participating countries. I employ a variety of clustering techniques and come up with a clustering solution containing four groups of economically similar countries. The clusters are robust across the estimation procedures. Hierarchical clustering also conducted in this study suggests a sequential agglomerating path for the countries to follow. The results of this study are intended as one of the (many) decision tools used by the parties considering multilateral economic cooperation and trade agreements in the region.

This article analyzes the current conditions of participation in the investment banks in the CIS security processes of restructuring of joint- stock companies. The advantages and risks associated with the implementation of complex functions of banks as institutional investors, investment brokers and asset managers for modernizing companies are considered. It’s given the specific features of using by banks several methods of equity and debt finance in restructuring programs of joint stock companies through securities.