The financial system reform in China: the lesson learnt from the global financial crisis

This paper reviews the impact of the global financial crisis on financial system reform in China. Scholars and practitioners have critically questioned the efficiencies of the Anglo- American principal-agent model of corporate governance which promotes shareholder-value maximisation. Should China continue to follow the U.K.-U.S. path in relation to financial reform? This conceptual paper provides an insightful review of the corporate governance literature, regulatory reports and news articles from the financial press. After examining the fundamental limitations of the laissez-faire philosophy that underpins the neo-liberal model of capitalism, the paper considers the risks in opening up China’s financial markets and relaxing monetary and fiscal policies. The paper outlines a critique of shareholder-capitalism in relation to the German team-production model of corporate governance, promoting a “social market economy” styled capitalism. Through such analysis, the paper explores numerous implications for China to consider in terms of developing a new and sustainable corporate governance model. China needs to follow its own financial reform through understanding its particular economy. The global financial crisis might help China rethink the nature of corporate governance, identify its weakness and assess the current reform agenda.

On the determination of atmospheric water vapor from GPS measurements

Surface-based GPS measurements of zenith path delay (ZPD) can be used to derive vertically integrated water vapor (IWV) of the atmosphere. ZPD data are collected in a global network presently consisting of 160 stations as part of the International GPS Service. In the present study, ZPD data from this network are converted into IWV using observed surface pressure and mean atmospheric water vapor column temperature obtained from the European Centre for Medium-Range Weather Forecasts' (ECMWF) operational analyses (OA). For the 4 months of January/July 2000/2001, the GPS-derived IWV values are compared to the IWV from the ECMWF OA, with a special focus on the monthly averaged difference (bias) and the standard deviation of daily differences. This comparison shows that the GPS-derived IWV values are well suited for the validation of OA of IWV. For most GPS stations, the IWV data agree quite well with the analyzed data indicating that they are both correct at these locations. Larger differences for individual days are interpreted as errors in the analyses. A dry bias in the winter is found over central United States, Canada, and central Siberia, suggesting a systematic analysis error. Larger differences were mainly found in mountain areas. These were related to representation problems and interpolation difficulties between model height and station height. In addition, the IWV comparison can be used to identify errors or problems in the observations of ZPD. This includes errors in the data itself, e.g., erroneous outlier in the measured time series, as well as systematic errors that affect all IWV values at a specific station. Such stations were excluded from the intercomparison. Finally, long-term requirements for a GPS-based water vapor monitoring system are discussed.

A comprehensive benchmarking system for evaluating global vegetation models.

We present a benchmark system for global vegetation models. This system provides a quantitative evaluation of multiple simulated vegetation properties, including primary production; seasonal net ecosystem production; vegetation cover, composition and 5 height; fire regime; and runoff. The benchmarks are derived from remotely sensed gridded datasets and site-based observations. The datasets allow comparisons of annual average conditions and seasonal and inter-annual variability, and they allow the impact of spatial and temporal biases in means and variability to be assessed separately. Specifically designed metrics quantify model performance for each process, 10 and are compared to scores based on the temporal or spatial mean value of the observations and a “random” model produced by bootstrap resampling of the observations. The benchmark system is applied to three models: a simple light-use efficiency and water-balance model (the Simple Diagnostic Biosphere Model: SDBM), and the Lund-Potsdam-Jena (LPJ) and Land Processes and eXchanges (LPX) dynamic global 15 vegetation models (DGVMs). SDBM reproduces observed CO2 seasonal cycles, but its simulation of independent measurements of net primary production (NPP) is too high. The two DGVMs show little difference for most benchmarks (including the interannual variability in the growth rate and seasonal cycle of atmospheric CO2), but LPX represents burnt fraction demonstrably more accurately. Benchmarking also identified 20 several weaknesses common to both DGVMs. The benchmarking system provides a quantitative approach for evaluating how adequately processes are represented in a model, identifying errors and biases, tracking improvements in performance through model development, and discriminating among models. Adoption of such a system would do much to improve confidence in terrestrial model predictions of climate change 25 impacts and feedbacks.

Global runoff routing with the hydrological component of the ECMWF NWP system

A global river routing scheme coupled to the ECMWF land surface model is implemented and tested within the framework of the Global Soil Wetness Project II, to evaluate the feasibility of modelling global river runoff at a daily time scale. The exercise is designed to provide benchmark river runoff predictions needed to verify the land surface model. Ten years of daily runoff produced by the HTESSEL land surface scheme is input into the TRIP2 river routing scheme in order to generate daily river runoff. These are then compared to river runoff observations from the Global Runoff Data Centre (GRDC) in order to evaluate the potential and the limitations. A notable source of inaccuracy is bias between observed and modelled discharges which is not primarily due to the modelling system but instead of to the forcing and quality of observations and seems uncorrelated to the river catchment size. A global sensitivity analysis and Generalised Likelihood Uncertainty Estimation (GLUE) uncertainty analysis are applied to the global routing model. The ground water delay parameter is identified as being the most sensitive calibration parameter. Significant uncertainties are found in results, and those due to parameterisation of the routing model are quantified. The difficulty involved in parameterising global river discharge models is discussed. Detailed river runoff simulations are shown for the river Danube, which match well observed river runoff in upstream river transects. Results show that although there are errors in runoff predictions, model results are encouraging and certainly indicative of useful runoff predictions, particularly for the purpose of verifying the land surface scheme hydrologicly. Potential of this modelling system on future applications such as river runoff forecasting and climate impact studies is highlighted. Copyright © 2009 Royal Meteorological Society.

A comprehensive benchmarking system for evaluating global vegetation models

We present a benchmark system for global vegetation models. This system provides a quantitative evaluation of multiple simulated vegetation properties, including primary production; seasonal net ecosystem production; vegetation cover; composition and height; fire regime; and runoff. The benchmarks are derived from remotely sensed gridded datasets and site-based observations. The datasets allow comparisons of annual average conditions and seasonal and inter-annual variability, and they allow the impact of spatial and temporal biases in means and variability to be assessed separately. Specifically designed metrics quantify model performance for each process, and are compared to scores based on the temporal or spatial mean value of the observations and a "random" model produced by bootstrap resampling of the observations. The benchmark system is applied to three models: a simple light-use efficiency and water-balance model (the Simple Diagnostic Biosphere Model: SDBM), the Lund-Potsdam-Jena (LPJ) and Land Processes and eXchanges (LPX) dynamic global vegetation models (DGVMs). In general, the SDBM performs better than either of the DGVMs. It reproduces independent measurements of net primary production (NPP) but underestimates the amplitude of the observed CO2 seasonal cycle. The two DGVMs show little difference for most benchmarks (including the inter-annual variability in the growth rate and seasonal cycle of atmospheric CO2), but LPX represents burnt fraction demonstrably more accurately. Benchmarking also identified several weaknesses common to both DGVMs. The benchmarking system provides a quantitative approach for evaluating how adequately processes are represented in a model, identifying errors and biases, tracking improvements in performance through model development, and discriminating among models. Adoption of such a system would do much to improve confidence in terrestrial model predictions of climate change impacts and feedbacks.

Developing a knowledge management system using an ontological approach in global organisation

This paper introduces an ontology-based knowledge model for knowledge management. This model can facilitate knowledge discovery that provides users with insight for decision making. The users requiring the insight normally play different roles with different requirements in an organisation. To meet the requirements, insights are created by purposely aggregated transnational data. This involves a semantic data integration process. In this paper, we present a knowledge management system which is capable of representing knowledge requirements in a domain context and enabling the semantic data integration through ontology modeling. The knowledge domain context of United Bible Societies is used to illustrate the features of the knowledge management capabilities.

IPCC global coupled model simulations of the South America monsoon system

This study examines the variability of the South America monsoon system (SAMS) over tropical South America (SA). The onset, end, and total rainfall during the summer monsoon are investigated using precipitation pentad estimates from the global precipitation climatology project (GPCP) 1979-2006. Likewise, the variability of SAMS characteristics is examined in ten Intergovernmental Panel on Climate Change (IPCC) global coupled climate models in the twentieth century (1981-2000) and in a future scenario of global change (A1B) (2081-2100). It is shown that most IPCC models misrepresent the intertropical convergence zone and therefore do not capture the actual annual cycle of precipitation over the Amazon and northwest SA. Most models can correctly represent the spatiotemporal variability of the annual cycle of precipitation in central and eastern Brazil such as the correct phase of dry and wet seasons, onset dates, duration of rainy season and total accumulated precipitation during the summer monsoon for the twentieth century runs. Nevertheless, poor representation of the total monsoonal precipitation over the Amazon and northeast Brazil is observed in a large majority of the models. Overall, MI-ROC3.2-hires, MIROC3.2-medres and MRI-CGCM3.2.3 show the most realistic representation of SAMS`s characteristics such as onset, duration, total monsoonal precipitation, and its interannual variability. On the other hand, ECHAM5, GFDL-CM2.0 and GFDL-CM2.1 have the least realistic representation of the same characteristics. For the A1B scenario the most coherent feature observed in the IPCC models is a reduction in precipitation over central-eastern Brazil during the summer monsoon, comparatively with the present climate. The IPCC models do not indicate statistically significant changes in SAMS onset and demise dates for the same scenario.

Xylella fastidiosa: An in vivo system to study possible survival strategies within citrus xylem vessels based on global gene expression analysis

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Wavelet shrinkage: High frequency multipath reduction from GPS relative positioning

The wavelet transform is used to reduce the high frequency multipath of pseudorange and carrier phase GPS double differences (DDs). This transform decomposes the DD signal, thus separating the high frequencies due to multipath effects. After the decomposition, the wavelet shrinkage is performed by thresholding to eliminate the high frequency component. Then the signal can be reconstructed without the high frequency component. We show how to choose the best threshold. Although the high frequency multipath is not the main multipath error component, its correction provides improvements of about 30% in pseudorange average residuals and 24% in carrier phases. The results also show that the ambiguity solutions become more reliable after correcting the high frequency multipath.

On determining spectral parameters, tracking jitter, and GPS positioning improvement by scintillation mitigation

A method of determining spectral parameters p (slope of the phase PSD) and T (phase PSD at 1 Hz) and hence tracking error variance in a GPS receiver PLL from just amplitude and phase scintillation indices and an estimated value of the Fresnel frequency has been previously presented. Here this method is validated using 50 Hz GPS phase and amplitude data from high latitude receivers in northern Norway and Svalbard. This has been done both using (1) a Fresnel frequency estimated using the amplitude PSD (in order to check the accuracy of the method) and (2) a constant assumed value of Fresnel frequency for the data set, convenient for the situation when contemporaneous phase PSDs are not available. Both of the spectral parameters (p, T) calculated using this method are in quite good agreement with those obtained by direct measurements of the phase spectrum as are tracking jitter variances determined for GPS receiver PLLs using these values. For the Svalbard data set, a significant difference in the scintillation level observed on the paths from different satellites received simultaneously was noted. Then, it is shown that the accuracy of relative GPS positioning can be improved by use of the tracking jitter variance in weighting the measurements from each satellite used in the positioning estimation. This has significant advantages for scintillation mitigation, particularly since the method can be accomplished utilizing only time domain measurements thus obviating the need for the phase PSDs in order to extract the spectral parameters required for tracking jitter determination.

Higher order ionospheric effects in GNSS positioning in the European region

After removal of the Selective Availability in 2000, the ionosphere became the dominant error source for Global Navigation Satellite Systems (GNSS), especially for the high-accuracy (cm-mm) demanding applications like the Precise Point Positioning (PPP) and Real Time Kinematic (RTK) positioning.The common practice of eliminating the ionospheric error, e. g. by the ionosphere free (IF) observable, which is a linear combination of observables on two frequencies such as GPS L1 and L2, accounts for about 99% of the total ionospheric effect, known as the first order ionospheric effect (Ion1). The remaining 1% residual range errors (RREs) in the IF observable are due to the higher - second and third, order ionospheric effects, Ion2 and Ion3, respectively. Both terms are related with the electron content along the signal path; moreover Ion2 term is associated with the influence of the geomagnetic field on the ionospheric refractive index and Ion3 with the ray bending effect of the ionosphere, which can cause significant deviation in the ray trajectory (due to strong electron density gradients in the ionosphere) such that the error contribution of Ion3 can exceed that of Ion2 (Kim and Tinin, 2007).The higher order error terms do not cancel out in the (first order) ionospherically corrected observable and as such, when not accounted for, they can degrade the accuracy of GNSS positioning, depending on the level of the solar activity and geomagnetic and ionospheric conditions (Hoque and Jakowski, 2007). Simulation results from early 1990s show that Ion2 and Ion3 would contribute to the ionospheric error budget by less than 1% of the Ion1 term at GPS frequencies (Datta-Barua et al., 2008). Although the IF observable may provide sufficient accuracy for most GNSS applications, Ion2 and Ion3 need to be considered for higher accuracy demanding applications especially at times of higher solar activity.This paper investigates the higher order ionospheric effects (Ion2 and Ion3, however excluding the ray bending effects associated with Ion3) in the European region in the GNSS positioning considering the precise point positioning (PPP) method. For this purpose observations from four European stations were considered. These observations were taken in four time intervals corresponding to various geophysical conditions: the active and quiet periods of the solar cycle, 2001 and 2006, respectively, excluding the effects of disturbances in the geomagnetic field (i.e. geomagnetic storms), as well as the years of 2001 and 2003, this time including the impact of geomagnetic disturbances. The program RINEX_HO (Marques et al., 2011) was used to calculate the magnitudes of Ion2 and Ion3 on the range measurements as well as the total electron content (TEC) observed on each receiver-satellite link. The program also corrects the GPS observation files for Ion2 and Ion3; thereafter it is possible to perform PPP with both the original and corrected GPS observation files to analyze the impact of the higher order ionospheric error terms excluding the ray bending effect which may become significant especially at low elevation angles (Ioannides and Strangeways, 2002) on the estimated station coordinates.

Desempenho do modelo global da ionosfera do IGS: avaliação no posicionamento por ponto na região sul do Brasil em período de alta atividade solar

One of the main drawbacks of the GPS accuracy for L1 users is the error due to ionosphere. This error depends on the total electron content presents in the ionosphere, as well as of the carrier frequency. Some models have been developed to correct GPS observables of the systematic error due to the ionosphere. The model more known and used is the Klobuchar model, which corrected 50-60% of the ionospheric error approximately. Alternatively, IGS (International GNSS Service) also has developed a model called Global Ionospheric Map (GIM). These maps, in format IONEX, are available in the site of the IGS, and one of the applications of them is to correct the GPS observables of the error due to ionosphere. This work aims at evaluating the quality of GPS point positioning using the IGS ionospheric model in the southerm region of Brazil. Tests carried out had shown an average improvement in the horizontal and vertical determination of 44% and 77%, respectively, when GIM is used in the point positioning.

Global dynamics of the Rikitake system

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

GLOBAL DYNAMICS of THE LORENZ SYSTEM WITH INVARIANT ALGEBRAIC SURFACES

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)