Multi-dithienylethene arrays, in which two, three, or four 1,2-bis(2,4-dimethylthiophen-3-yl)perfluorocyclopentenes are ethynylene-bridged, were synthesized. Upon irradiation with ultraviolet light the hexane solutions of the arrays turned violet-blue and the color disappeared by irradiation with visible light. The quantum yields of photocyclization reactions successively increased from 0.21 to 0.40 by increasing the number of the dithienylethene moieties in the arrays from one to four. Picosecond laser photolysis as well as the fluorescence depolarization experiment confirmed that efficient excited energy migration in the arrays from the photochemically inactive parallel conformer to the photoactive antiparallel conformer resulted in the high quantum yields.
The quality of local labor is an important factor in a multinational corporation's (MNC) decision to set up production operations in a developing country. It is often observed that developing country governments attempt to attract MNCs by enhancing labor quality. This paper studies the interaction between an MNC and a local government which has superior information on local labor quality. The local government has an incentive to enhance the labor quality and share that information with the MNC because it increases both its net tax revenue and profit of the MNC. The paper provides an explanation for recent findings of FDI in developing countries: the bulk of FDI has been directed toward a limited number of countries and human capital plays an increasingly important role in attracting FDI. a model is provided that explains the positive relationship between human capital composition and FDI inflows. Second, the model endogenously determines the threshold level of human capital, denoted as the take-off point, at which the developing country government initiates the attraction of FDI through human capital enhancement (HCE). The take-off point clearly distinguishes those countries that succeed in attracting FDI through HCE from those that do not. Third, the present model elaborates the role of information on local human capital composition (local labor quality).The role of information asymmetries occupies a central position in the theory of FDI. The literature has focused on the choice between FDI and licensing to a local firm in an environment where a multinational corporation (MNC) sells in the host-country market (Ethier and Markusen, 1996;Horstmann and Markusen, 1996). These studies have focused on the advantage that FDI provides of internalizing information about technology and local demand. Generally, FDI takes place when a firm combines the ownership-specific advantages with the location-specific advantages of host countries through internalization (Dunning, 1981). Accordingly, it is important to find a location that offers factors that match the technology and governance of the firm (Lall, 2000).It is common for large MNCs to invest in developing countries to create export platforms from which they serve foreign markets (Helpman, 2006). For these exportoriented MNCs the payoff from FDI is more related to the quality of the local factors, including labor, than it is to local demand. Since an MNC is naturally at a disadvantage with regard to information on the host country, the government has an incentive to intervene in the FDI promotion process to overcome information-related market failures (Moran, 1998;Lall, 2000;te Velde, 2002). Reviewing many illustrative examples of government interventions, te Velde (2002) emphasized the importance of overcoming information asymmetries, especially regarding local human capital, by concluding, "In order to attract FDI and make FDI work for development, governments need to address a series of market failures related to the market for skills and technology and need to overco...
Agricultural price policies in developed countries aim at protecting farmers against both low and volatile world market prices. However, traditional indicators of protection only refer to the income (level) effect of policy. Following other research, it is argued that public policy can also yield an insurance (stabilizing) effect. In this paper a way to measure these dual effects is proposed. The method is illustrated with wheat market data for the USA and the European Union. Strong evidence is found that the insurance effect is an important component of protection, albeit a small one relative to the income effect. Policy support provided higher income and lower insurance effects in the EU than in the USA. For both markets, policy reforms in the 1990s led to significantly reduced income effects and smaller insurance effects. Without accounting for the influence of policy on income variability, traditional measures of protection will understate the real rate of protection.
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