No insulation : politics and technocracy's troubled trajectory

Technocracy often holds out the promise of rational, disinterested decision-making. Yet states look to technocracy not just for expert inputs and calculated outcomes but to embed the exercise of power in many agendas, policies and programs. Thus, technocracy operates as an appendage of politically constructed structures and configurations of power, and highly placed technocrats cannot be 'mere' backroom experts who supply disinterested rational-technical solutions in economic planning, resource allocation and social distribution, which are inherently political. This paper traces the trajectories of technocracy in conditions of rapid social transformation, severe economic restructuring, or political crises - when the technocratic was unavoidably political.

Tax differentials and inflow of foreign direct investments : evidence from foreign operations of U.S. multinational companies

This paper concerns the measurement of the impact of tax differentials across countries on inflow of Foreign Direct Investment (FDI) by using comprehensive data on the foreign operations of U.S. multinational corporations that has been collected by the Bureau of Economic Analysis (BEA), the U.S. Department of Commerce. In particular, this research focuses on examining: (1) how responsive FDI locations are to tax differentials across countries, (2) how different the tax effect on FDI inflow is between developed and developing countries, and (3) whether investment location decisions have become more or less sensitive to tax differences between countries over time ranging from the late 1990s to the early 2000s. Estimation results suggest that high rates of corporate income taxation are associated with reduced foreign assets of U.S. multinational firms in all industries by decreasing the return to foreign asset investment. Further, foreign assets of U.S. multinationals in all industries have become more responsive to non-income tax differentials across countries than to income tax differences from 1999 to 2004. Empirical estimates also indicate that foreign investment by American firms is associated with higher tax sensitivity more in developed countries than in those that are developing.

Location choice in low-income countries : evidence from Japanese investments in East Asia

Unlike most existing studies, this paper examines the location choices of MNEs in developing countries. Specifically, we investigate the location choices of Japanese MNEs among East Asian developing countries by estimating a four-stage nested logit model at the province level. Noteworthy results of location elements are as follows. As is consistent with the mechanics of cheap labor-seeking FDI, Japanese MNEs are more likely to invest in locations with low income and low tariff rates on products from Japan. Also, accessibility to other locations and/or ports matters in attracting Japanese MNEs because it is crucial in importing materials and exporting their products. In addition, WTO membership and bilateral investment treaties are important because these contribute to the settlement of trade and investment disputes, which is more likely to be necessary in developing countries.

An experimental study on the effect of rolling shutters on the field measurements of airborne sound insulation of façades

The façade is the visible part of a building, and generally consists of various different constructive systems. The sound reduction index of the closing elements for the openings on a room’s façade is a determining factor in the sound insulation from airborne noise inside the space. Windows are the transparent part of the façade, and to improve their thermal behaviour and control solar radiation, they are often fitted with a series of external and internal protections such as shutters, slats and blinds. This work contains a summary of studies carried out using field measurements of airborne sound insulation on façades in rooms, in application of the standard UNE-EN ISO 140-5:1999. In all the rooms the windows were fitted with shutter boxes and rolling shutters, and the acoustic tests were made with the shutter in two positions (extended and fully retracted). The results were analysed considering the window opening system (openable or sliding) and the type of glass pane (monolithic or insulating glass unit, IGU). In the case of sliding windows, the airborne sound insulation of façades is greater when the shutter is extended than when it is retracted, and this should be taken into account when applying the aforementioned standard.

Influence of loudspeaker directivity and measurement geometry on direct acoustic levels over façades for acoustic insulation tests with the International Standard ISO 140-5

The International Standard ISO 140-5 on field measurements of airborne sound insulation of façades establishes that the directivity of the measurement loudspeaker should be such that the variation in the local direct sound pressure level (ΔSPL) on the sample is ΔSPL < 5 dB (or ΔSPL < 10 dB for large façades). This condition is usually not very easy to accomplish nor is it easy to verify whether the loudspeaker produces such a uniform level. Direct sound pressure levels on the ISO standard façade essentially depend on the distance and directivity of the loudspeaker used. This paper presents a comprehensive analysis of the test geometry for measuring sound insulation and explains how the loudspeaker directivity, combined with distance, affects the acoustic level distribution on the façade. The first sections of the paper are focused on analysing the measurement geometry and its influence on the direct acoustic level variations on the façade. The most favourable and least favourable positions to minimise these direct acoustic level differences are found, and the angles covered by the façade in the reference system of the loudspeaker are also determined. Then, the maximum dimensions of the façade that meet the conditions of the ISO 140-5 standard are obtained for the ideal omnidirectional sound source and the piston radiating in an infinite baffle, which is chosen as the typical radiation pattern for loudspeakers. Finally, a complete study of the behaviour of different loudspeaker radiation models (such as those usually utilised in the ISO 140-5 measurements) is performed, comparing their radiation maps on the façade for searching their maximum dimensions and the most appropriate radiation configurations.

Dry sand as a specialized layer to improve the acoustic insulation between rooms one above another = La arena como capa intermedia especializada para la mejora del aislamiento acústico entre recintos superpuestos

Se comprueba la mejora en el aislamiento acústico entre recintos de la colocación de una capa de arean entre el solado y el forjado

International For-Profit Investments in Microfinance Institutions Equity

Purpose: The purpose of this document is to review the funding options for Microfinance Institutions (MFIs), define the size of the holdings of international investors in MFI equity and in particular the MFIs listed in stock exchanges, analyze the characteristics of these subset of the financial world and study the stock exchange evolution of some listed MFIs amid the financial crisis. Design/methodology/approach: Since academic literature on listed MFI equity is virtually inexistent, most of the information has been obtained from the World Bank, annual accounts of the listed MFIs, stock exchanges and from equity research documents. Findings and Originality/value: Microfinance Institutions share several common characteristics that make them a resilient business and the few MFIs that are listed in stock exchanges seem to have performed better in the financial crisis. Microfinance can be considered as one of the new frontiers of the expansion of the global banking industry. Practical implications: Presently, international for-profit investors have very few ways of investing in microfinance equity. Most of the equity of the MFI equity is funded locally or thanks to the local public sector. The stock exchange listing of the MFIs should drive MFIs towards a more professional management, more transparency and better governance. Social implications: Microfinance Institutions provide credit to microenterprises in poor countries that have no other alternative sources of external capital to expand its activity. If global investors could easily invest in the listed equity of the MFIs these institutions would expand its lending books and would improve its governance, part of the population living in poor areas or with lower income could ameliorate its standard of living. Originality/value: The number of Microfinance Institutions that are professionally run like commercial banks is still scarce and even more scarce are the MFI listed in public stock exchanges. Therefore the published literature on the characteristics and performance of the listed equity of the Microfinance Institutions is extremely reduced. But microfinance assets are rapidly growing and MFIs will need to list their equity in stock exchanges to sustain this expansion.

Anhydrite/aerogel composites for thermal insulation

High performance thermal insulating composite materials can be produced with mineral binders and hydrophobic aerogel particles through a hydrophilization process for the latter with surfactants. The present study is focused on the development of aerogel/calcium sulfate composites by the hydrophilization of hydrophobic silica aerogel particles through a polymer-based surfactant. Its effects on the microstructure and hydration degree are examined as well as their relation to the resulting mechanical and physical properties. Results show that composites with an around 60 % of aerogel by volume can achieve a thermal conductivity <30 mW/m × K. Interestingly, a surfactant addition of 0.1 % by wt% of the water in the mixtures provides better material properties compared to a surfactant wt% addition of 5 %. However, it has been found around 40 % entrained air, affecting the material properties by reducing the binder and aerogel volume fractions within the composites. Moreover, gypsum crystallization starts to be inhibited at aerogel volume fractions >35 %. Towards material optimization, a model for the calculation of thermal conductivity of composites and an equation for the compressive strength are proposed.

Comparative analysis of constructive solutions for thermal insulation by using computer applications in building rehabilitation in Mediterranean climate. The Spanish case

The new Spanish legislation in Energy Saving, similar to European regulation, provides new technical requirements to adequate technical solutions used in integral rehabilitation of existing buildings. The aim of this paper is to present, analyze and discuss the main thermal insulation constructive solutions best suited to a Mediterranean climate, and conclude on their suitability under the legislation in Energy Saving. The proposed methodology is based on the most usual constructive solutions in integral rehabilitation of buildings by analyzing their outstanding design features, by studying its construction details and then by applying the software provided by the Spanish legislation of energy efficiency in buildings. The results of the study evaluate and classify several solutions for façade rehabilitation according to energy efficiency criteria and their suitability for this type of weather, verifying the necessity of using software applications in energy saving for the proper design of constructive solutions in building rehabilitation.