scholarly journals Growth and business cycle in Argentina. A long-run approach, 1870–2015

2020 ◽  
Vol 28 (84) ◽  
pp. 197-220
Author(s):  
María Dolores Gadea ◽  
Isabel Sanz-Villarroya
Keyword(s):  
Long Term Evolution ◽  
Growth Potential ◽  
Short Term ◽  
Content Type ◽  
Developed Economies ◽  
Term Evolution ◽  
Long Run ◽  
High Volatility ◽  
The Moment

Purpose The purpose of this study is to focus deeply on the short term to explain the relative long-term evolution of the Argentinian economy in the long and the short term. Design/methodology/approach The study of the long-term evolution of the Argentine economy and identifying the moment in which it began to lose ground compared to other developed economies, such as Australia and Canada, constitutes the central axis of the historiography of this country. However, an additional problem presented by the Argentine economy is its high volatility. For this reason, the long term should be influenced by the short term, an issue that requires a more detailed study of the cyclical behavior and a deep analysis of the relationship between the long and the short term. Findings The results obtained point to a cyclical development that influences the long-term evolution and, therefore, explains Argentina’s convergence process with Australia and Canada. Frequent deep busts and short booms characterize the Argentine cycle, offsetting its long-term growth potential. Originality/value Although the long term has been profusely studied in Argentina, the short term has not been analyzed to the same extent, which is surprising given the extreme volatility of this economy (Prebisch, 1950). The studies performed on economic cycles have always been partial, disconnected from the long term and carried out without much technical rigor.

scholarly journals The impacts of public investment on private investment and economic growth

2018 ◽  
Vol 25 (1) ◽  
pp. 15-32 ◽  
Author(s):  
Canh Thi Nguyen ◽  
Lua Thi Trinh
Keyword(s):  
Economic Growth ◽  
Public Investment ◽  
Private Investment ◽  
Short Term ◽  
Content Type ◽  
State Sector ◽  
Positive Effects ◽  
Long Run ◽  
Short And Long Term

Purpose The purpose of this paper is to assess both short and long-term influences of public investment on economic growth and test the hypothesis that whether public investment promotes or demotes private investment in Vietnam. Design/methodology/approach The authors use the approach of autoregressive distributed lag model and Vietnam’s macro data in the period of 1990-2016, to evaluate the short and long-term effects of public investment on economic growth and private investment. The model evaluates the impact of public investment on economic growth and private investment based on the neoclassical theories. The public investment which strongly affects economic growth is also reflected by aggregate supply and demand. Public investment directly impacts aggregate demand as a government expenditure and aggregate supply as a production function (capital factor). Findings The results from this research indicate that public investment in Vietnam in the past period does affect economic growth in the pattern of an inverted-U shape as of Barro (1990), with positive effects mostly occurring from the second year and negative effects of constraining long-term growth. Meanwhile, investment from the private sector, state-owned enterprises, and FDI has positive effects on short-term economic growth and state-owned capital stock has positive impacts on economic growth in both the short and long run. The estimated influence of public investment on private investment also shows a similar inverted-U shape in which public investment have crowding-in private investment short-term but crowding-out in the long run. Practical implications The empirical findings in this study can be used for conducting a more efficient policy in restructuring the state sector investment in Vietnam. Originality/value The main contributions in this study are: to evaluate the impacts of public investment on economic growth and private investment, the authors extracted public investment in infrastructure from aggregate investment of state sector (as previous studies used); the authors also uses state-owned capital stock variable including cumulative public investment and state-owned enterprises investment suggesting that this could control for the different orders of integration between the stock and flow variable and improve the experimental characteristics of the equation to a higher degree.

Tata Motors’ successful cross-border acquisition of Jaguar Land Rover: key take-aways

2016 ◽  
Vol 32 (9) ◽  
pp. 15-18
Author(s):  
Atul Arun Pathak
Keyword(s):  
Emerging Market ◽  
Core Competencies ◽  
Secondary Data ◽  
Short Term ◽  
Developed Country ◽  
Content Type ◽  
Cross Border ◽  
Long Run ◽  
Land Rover

Purpose This paper aims to focus on Tata Motors, an automobile company from an emerging market, and its successful acquisition of two global marquee car brands in Jaguar and Land Rover (JLR). It traces the evolution of JLR under the stewardship of Tata Motors over an eight-year long period and examines the strategic reasons for the success of the acquisition. Design/methodology/approach The paper approaches strategic issues in cross-border acquisitions using an illustration of a successful deal. It is based on statements of leaders and secondary data about the acquirer and acquired organizations. The paper explores the strategic challenges faced when emerging market firms carry out cross border acquisition deals. It recommends the short-term and long-term strategies that acquirers can follow to improve the chances of a successful acquisition. Findings Any acquisition is challenging. Cross-border acquisitions face greater challenges, especially if the acquirer is from an emerging market country while the target company is from a developed country. Success of the acquisition, especially over the long run, depends on both internal factors that are under the control of the acquirer’s management, as well as external environmental factors that it needs to address. Both patience and luck are required ingredients for success in such contexts. Practical implications While the general temptation in any acquisition is to extract synergies as quickly as possible, the Tata Motors’ acquisition of JLR is an exception. Tata Motors carefully handled short-term challenges and continued to invest in the core competencies of JLR and reaped benefits over the long run. It was also fortunate that a variety of factors in the external environment turned favorable for Tata Motors and JLR in the eight years since the deal took place. Social implications It concedes that during an M&A deal, the leaders of a seller organization may be nervous about their future. JLR trade union leaders were initially not sure whether jobs in UK would remain secure. To ensure success of the deal, the leaders of the acquirer firm need to balance the interests of multiple stakeholders, both in the short-term, as well as over a longer-term perspective. Originality/value The paper considers the Tata Motors’ acquisition of JLR. It is an example of a large, difficult cross-border acquisition by an emerging market based company. While the acquisition proved difficult in the short term, it has yielded excellent dividends to the parent company over the long term. This paper explores the reasons why this cross-border acquisition succeeded and recommends strategies that other companies considering cross-border acquisitions can consider to improve their chances of success.

Long-term Evolution, Short-term Evolution, and Population Genetic Theory

1998 ◽  
Vol 191 (4) ◽  
pp. 391-396 ◽  
Author(s):  
Ilan Eshel ◽  
Marcus W. Feldman ◽  
Aviv Bergman
Keyword(s):  
Population Genetic ◽  
Long Term Evolution ◽  
Short Term ◽  
Genetic Theory ◽  
Term Evolution

Few-Shot Learning in Spiking Neural Networks by Multi-Timescale Optimization

2021 ◽  
pp. 1-34
Author(s):  
Runhao Jiang ◽  
Jie Zhang ◽  
Rui Yan ◽  
Huajin Tang
Keyword(s):  
Adaptive Learning ◽  
Temporal Dynamics ◽  
Long Term Evolution ◽  
Collaborative Optimization ◽  
Neural Dynamics ◽  
Short Term ◽  
Weight Decay ◽  
Term Evolution ◽  
Priori Knowledge

Learning new concepts rapidly from a few examples is an open issue in spike-based machine learning. This few-shot learning imposes substantial challenges to the current learning methodologies of spiking neuron networks (SNNs) due to the lack of task-related priori knowledge. The recent learning-to-learn (L2L) approach allows SNNs to acquire priori knowledge through example-level learning and task-level optimization. However, an existing L2L-based framework does not target the neural dynamics (i.e., neuronal and synaptic parameter changes) on different timescales. This diversity of temporal dynamics is an important attribute in spike-based learning, which facilitates the networks to rapidly acquire knowledge from very few examples and gradually integrate this knowledge. In this work, we consider the neural dynamics on various timescales and provide a multi-timescale optimization (MTSO) framework for SNNs. This framework introduces an adaptive-gated LSTM to accommodate two different timescales of neural dynamics: short-term learning and long-term evolution. Short-term learning is a fast knowledge acquisition process achieved by a novel surrogate gradient online learning (SGOL) algorithm, where the LSTM guides gradient updating of SNN on a short timescale through an adaptive learning rate and weight decay gating. The long-term evolution aims to slowly integrate acquired knowledge and form, which can be achieved by optimizing the LSTM guidance process to tune SNN parameters on a long timescale. Experimental results demonstrate that the collaborative optimization of multi-timescale neural dynamics can make SNNs achieve promising performance for the few-shot learning tasks.

scholarly journals Reinterpreting Long-Term Evolution Experiments: Is Delayed Adaptation an Example of Historical Contingency or a Consequence of Intermittent Selection?

2016 ◽  
Vol 198 (7) ◽  
pp. 1009-1012 ◽  
Author(s):  
John R. Roth ◽  
Sophie Maisnier-Patin
Keyword(s):  
Escherichia Coli ◽  
Rapid Evolution ◽  
Long Term Evolution ◽  
Historical Contingency ◽  
Short Pulses ◽  
Content Type ◽  
Link Type ◽  
Term Evolution ◽  
Selection For

Van Hofwegen et al. demonstrated thatEscherichia colirapidly evolves the ability to use citrate when long selective periods are provided (D. J. Van Hofwegen, C. J. Hovde, and S. A. Minnich, J Bacteriol 198:1022–1034, 2016,http://dx.doi.org/10.1128/JB.00831-15). This contrasts with the extreme delay (15 years of daily transfers) seen in the long-term evolution experiments of Lenski and coworkers. Their idea of “historical contingency” may require reinterpretation. Rapid evolution seems to involve selection for duplications of the wholecitlocus that are too unstable to contribute when selection is provided in short pulses.

Integration between the Asian REIT markets and macroeconomic variables

2016 ◽  
Vol 34 (1) ◽  
pp. 68-82 ◽  
Author(s):  
Wei Kang Loo ◽  
Melati Ahmad Anuar ◽  
Suresh Ramakrishnan
Keyword(s):  
Policy Implementation ◽  
Portfolio Management ◽  
Short Term ◽  
Causality Test ◽  
Policy Makers ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Long Run ◽  
Johansen Cointegration Test

Purpose – The purpose of this paper is to examine the long-run relationship and short-term linkage between the Asian REIT markets and their respective macroeconomic variables. Design/methodology/approach – The data collected comprised total return REIT Index from Japan, Hong Kong, Singapore, Malaysia, Thailand, Taiwan and South Korea and their macroeconomic variables from the date of availability of the data until December 2014. The macroeconomic variables are either available in monthly or quarterly basis, they will be separately tested with REIT Index respectively to their frequency. All the variables are tested for its stationarity prior to the investigation of their long-run relationship and short-term linkage using Johansen cointegration test and Granger causality test. Findings – The results showed that certain of the emerging REIT markets show a higher degree of integration with macroeconomic variables in the long run. This implies that the emerging REIT markets are more sensitive towards the change in macroeconomic environment in relative to the developed REIT markets. Practical implications – The paper implied that the distinction of each market structure and their unique way of policy implementation. The findings can assists policy makers to understand about the significance of policy implementation on the Asian REIT markets prior to decision making and also for the portfolio management my asset managers. Originality/value – The paper is one of the few attempts at assessing the long-term relationship and short term linkage between the Asian REIT markets and the macroeconomic variables.

Long-term evolution and short-term adaptation of microbiota strains and sub-strains in mice

2021 ◽  
Vol 29 (4) ◽  
pp. 650-663.e9
Author(s):  
Bahtiyar Yilmaz ◽  
Catherine Mooser ◽  
Irene Keller ◽  
Hai Li ◽  
Jakob Zimmermann ◽  
...  
Keyword(s):  
Long Term Evolution ◽  
Short Term ◽  
Term Evolution ◽  
Short Term Adaptation
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