Why and how FDI stocks are a biased measure of MNE affiliate activity

Many international business (IB) studies have used foreign direct investment (FDI) stocks to measure the aggregate value-adding activity of multinational enterprises (MNE) affiliates in host countries. We argue that FDI stocks are a biased measure of that activity, because the degree to which they overestimate or underestimate affiliate activity varies systematically with host-country characteristics. First, most FDI into countries that serve as tax havens generate no actual productive activity; thus FDI stocks in such countries overestimate affiliate activity. Second, FDI stocks do not include locally raised external funds, funds widely used in countries with well-developed financial markets or volatile exchange rates, resulting in an underestimation of affiliate activity in such countries. Finally, the extent to which FDI translates into affiliate activity increases with affiliate labor productivity, so in countries where labor is more productive, FDI stocks also result in an underestimation of affiliate activity. We test these hypotheses by first regressing affiliate value-added and affiliate sales on FDI stocks to calculate a country-specific mismatch, and then by regressing this mismatch on a host country's tax haven status, level of financial market development, exchange rate volatility, and affiliate labor productivity. All hypotheses are supported, implying that FDI stocks are a biased measure of MNE affiliate activity, and hence that the results of FDI-data-based studies of such activity need to be reconsidered. [ABSTRACT FROM AUTHOR]

Terahertz detection of illegal objects

This paper describes the main parameters - contrast, spatial resolution, and thermal sensitivity - which define the performance of any stand-off imaging system. The origin of the signature for both metal and dielectric objects hidden under clothing in the frequency range from 100 GHz to 500 GHz is discussed. At 100 GHz the signature is dominated by reflection whilst at 500 GHz it is dominated by emission. A 94-GHz-passive millimetre-wave imaging system has been designed and fabricated to image objects under clothing. This imager is based on a Schmidt camera folded using polarisation techniques.

Standoff detection of weapons and contraband in the 100 GHz to 1 THz region

The techniques and technologies currently being investigated to detect weapons and contraband concealed on persons under clothing are reviewed. The basic phenomenology of the atmosphere and materials that must be understood in order to realize such a system are discussed. The component issues and architectural designs needed to realize systems are outlined. Some conclusions with respect to further technology developments are presented.

Millimeter-wave and submillimeter-wave imaging for security and surveillance

Passive equipments operating in the 30-300 GHZ (millimeter wave) band are compared to those in the 300 GHz-3 THz (submillimeter band). Equipments operating in the submillimeter band can measure distance and also spectral information and have been used to address new opportunities in security. Solid state spectral information is available in the submillimeter region making it possible to identify materials, whereas in millimeter region bulk optical properties determine the image contrast. The optical properties in the region from 30 GHz to 3 THz are discussed for some typical inorganic and organic solids. in the millimeter-wave region of the spectrum, obscurants such as poor weather, dust, and smoke can be penetrated and useful imagery generated for surveillance. in the 30 GHZ-3 THZ region dielectrics such as plastic and cloth are also transparent and the detection of contraband hidden under clothing is possible. A passive millimeter-wave imaging concept based on a folded Schmidt camera has been developed and applied to poor weather navigation and security. The optical design uses a rotating mirror and is folded using polarization techniques. The design is very well corrected over a wide field of view making it ideal for surveillance, and security. This produces a relatively compact imager which minimizes the receiver count.

Security scanning at 94GHz - art. no. 62110C

It is well known that millimetre waves can pass through clothing. In short range applications such as in the scanning of people for security purposes, operating at W band can be an advantage. The size of the equipment is decreased when compared to operation at Ka band and the equipments have similar performance.

In this paper a W band mechanically scanned imager designed for imaging weapons and contraband hidden under clothing is discussed. This imager is based on a modified folded conical scan technology previously reported. In this design an additional optical element is added to give a Cassegrain configuration in image space. This increases the effective focal length and enables improved sampling of the image and provides more space for the receivers. This imager is constructed from low cost materials such as polystyrene, polythene and printed circuit board materials. The trade off between image spatial resolution and thermal sensitivity is discussed.

Electronic Circuit Packages

This invention relates to electronic circuit packages designed to hold high frequency circuits operating particularly, but not exclusively, in the microwave, millimeter wave, and sub-millimeter wave bands. The invention provides a package incorporating a cavity in a material for containment of the circuits, wherein the package further incorporates at least one conductive surface mounted on an inner surface extending into the cavity, the conductivity thereof being adapted to be at least partially absorbent to electromagnetic radiation. The conductive surface according to the present invention will tend to attenuate electromagnetic radiation present within the cavity, and so help to prevent undesired coupling from one point to another within the cavity. The conductivity of the conductive material is preferably arranged to match the impedance of the radiation mode estimated or computed to be present within the cavity.