Two basins separated by a strait often have different densities due to environmental factors, resulting in a situation in the strait where fluids of different densities are essentially side-by-side, causing an exchange flow due to gravitational forces. Dense fluid is pulled below light fluid and the light fluid is pushed above the dense, creating an opposing flow in the two layers. This exchange is often “controlled” at the point in the strait where cross-sectional area is minimized due to a constriction, either horizontal or vertical. Exchange in the strait can control the dynamics, and in turn energy, nutrient, pollutant and biological transport between the basins. Since strait dynamics are often not resolved in regional or global models, it is useful to parameterize the exchange based on external variables such as the density difference in the basins, the level of the dense water in the dense basin, and the tidal forcing. Exchange flow can be “maximal” or “sub-maximal”. The flow is “maximal” if raising the interface in the dense basin (presumably by modifying light water to be dense) does not further increase the exchange flow through the strait. While many ocean straits are usually “maximal”, there are also many that are “sub-maximal,” and thus require separate theoretical treatment. Time-dependent external barotropic forcing (i.e. the tide) modifies the time-averaged exchange flow in a strait. The relationship between tidal forcing and the average exchange flow in a channel has been examined for maximal exchange (Helfrich, 1995). In the present study, that effort is extended to include tidal forcing on a sub-maximal exchange flow. A strait with a sill is simulated numerically, using a two layer hydrostatic approximation. Time-averaged exchange flow increases with tidal amplitude depending on three factors: the physical dimensions of the problem, the tidal amplitude, and the relative strength of flow of the density layers. Results show that all exchange flows increase at a similar rate with tidal forcing, after being normalized by a parameter relating physical dimensions of the strait to the interfacial wave speed. This result quantifies the exchange increase due to tidal forcing for all degrees of “maximality” in this simple sill-only geometry. This relates time-dependent sub-maximal flows to the maximal case that has already been studied in depth. / Graduate / 0415 / ryanpc@uvic.ca

M.Com. (Financial Economics) / Exchange rate forecasting has been an important and complex field of study originating mainly from the introduction of floating exchange rates in the 1970s. Since then, various models have been developed to explain exchange rate behaviour, all contributing in their own way to the understanding of what economic and financial information reveal about the future price of exchange rates. To measure the performance of a variety of exchange rate models, researchers in exchange rate forecasting almost always use the random walk model as benchmark to evaluate the forecasting performance of exchange rate models. An exchange rate model is regarded as superior if it can outperform a random process. The random walk model, a special case of the unit root process, helps us to identify the kinds of disturbances that drive the exchange rate to follow an independent successive process. If the exchange rate follows a random walk process, it has no mean reversion tendency and a directional shock in the exchange rate will cause it to deviate from its long-run equilibrium. Conversely, if the exchange rate does not follow a random walk, it has mean reverting tendencies, and will follow a stationary process which allows us to accurately forecast the exchange rate based on historic observations (Lam, Wong and Wong, 2005:1). However, it seems unrealistic that exchange rates will follow either a random walk process or a stationary process. If we assume that the exchange rate follows a random walk, we also assume that the order flow information from exchange rate trades follows a random walk, and by implication that macroeconomic exchange rate information follows a random walk [see Lyons (2001) for the link between order flow and macroeconomic fundamentals]. It seems unrealistic that exchange rates will follow an identifiable mean reverting (stationary) process, as daily exchange rates are exposed to risk, news and speculation which functions independent from long-run exchange rate fundamentals. Ironically, Meese and Rogoff (who laid the foundation for the use of random walk models as benchmark in exchange rate forecasting) emphasize that exchange rates do not follow an exact random walk (Meese and Rogoff, 1983:14). However, if it is known that exchange rates do not follow a random process explicitly, alternative exchange rate benchmark models should be considered. Yet, judging by the universal...

This paper investigates the effects of real exchange rate misalignment (REM) on economic growth in Kenya over the period 1964-2009. The real exchange rate misalignment is defined as the difference between the equilibrium exchange rate and the actual real exchange rate (RER). The equilibrium real exchange rate was obtained by using the purchasing power parity (PPP) approach. To this effect, the study examined the existence or absence of the cointegration between the REM and economic growth, using the autoregressive distributed lag (ARDL) bounds testing approach. The ARDL approach is employed to determine both the long-run and short-run dynamics of the model. The results suggest that no long-run relationship exists between economic growth and the REM in Kenya. The short-run model is then estimated, using the OLS (ordinary least squares) method. From this model, it is determined that trade openness has a positive impact on economic growth, while foreign aid has a negative impact on economic growth; and both are considered empirically significant. The inflation rate and REM both negatively impact economic growth, but are empirically insignificant. All variables corroborate the a priori expectations.

The United States operates a dual payments system which gives rise to the distinction between Clearing House Funds and Federal Funds. Due to the fact that, unlike the United States, Canada operates a single payments system, a potential arbitrage opportunity arises in transacting between the Canadian and U.S. money markets on certain days of the week. There are essentially two situations in which U.S. investors can have an interest: the Friday-Monday transaction and the Thursday-Friday transaction. Since both the foreign exchange market and the money market are almost certainly efficient, any potential arbitrage opportunity should be eliminated by adjustments in both markets. This paper looks at the impact of the transactions that would tend to eliminate any arbitrage opportunity, upon interest rates and exchange rates. The institutional details for arranging such transactions are also examined. Only the implications in the foreign exchange market were empirically tested using daily spot rates and forward rates from 1973 to 1976. Since daily interest rates in this period were not available, only one example of daily variation of interest rate within a week was illustrated. It was found that transactions in both the spot market and the forward market have to be arranged one business day in advance. Therefore, the spot/forward rate is also quoted one business day in advance (for example, spot/forward rate that prevails on Thursday is quoted for Friday's transaction). Hence the rate implication from the movements of funds should be shifted one business day backward. The results show that the day-to-day movements in the spot and forward markets are as we would expect. Within the foreign exchange market, the forward rates adjust to a greater extent than the spot rate in eliminating the advantage that arises from the movements of funds. This also indicates that most investors prefer to cover their investments by arranging forward contracts. The arbitrage opportunity that arises involving movements of funds between Canada and the United States is also applicable between the United States and any European country that operates a single payments system. The theory behind it is identical to that described in this paper. Finally, it was found that even if banks in Canada and the United States use the Society for Worldwide Interbank Financial Telecommunications (S.W.I.F.T.) for a number of transactions in the near future, mechanisation of the International cheque clearing systems is not one of the functions for which S.W.I.F.T. will be used. Therefore,the "Big Fridays" operations are expected to continue. / Business, Sauder School of / Graduate

M.A. (Sociology) / Much has been written about Romans' exchange theory, but even though his publication Social Behavior: Its Elementary Forms evoked much reaction and criticism, there has never been an attempt to make a systematic and integrated summary thereof. The objective of this study is to make an extensive study of Romans' view of exchange and his social exchange theory, in which he explains certain social phenomena in terms of exchange behavior. This thesis takes the form of a documentary study of Romans' exchange theory. Most of the books and articles written by various authors about Romans were consulted, with the emphasis falling on works highlighting his exchange theory. To gain perspective as to Romans' individualistic perspective of his exchange theory, a wide range of different perspectives relating to exchange theories were examined. A comprehensive and systematic exposition of Romans' biographical history, academical career and his methodological approach is given, which had a significant influence on: his sociology in general and his view of exchange in particular and can hardly be seen out of context with his exchange theory. Romans developed his propositions in the exchange perspective out of the behavioristic psychology and elementary economics and used the same propositions to explain social phenomena such as interaction and the elaboration of interaction; the group, conformity, cooperation and competition; power and authority; status and leadership; status, conformity and stratification as well as satisfaction and distributive justice in terms of exchange between at least two persons who reward or punish each others actions.

京都大学 / 0048 / 新制・課程博士 / 博士(理学) / 甲第21590号 / 理博第4497号 / 新制||理||1646(附属図書館) / 京都大学大学院理学研究科化学専攻 / (主査)教授 寺西 利治, 教授 島川 祐一, 教授 吉村 一良 / 学位規則第4条第1項該当 / Doctor of Science / Kyoto University / DGAM

A yellowing which develops in some plants growing on naturally calcareous soils is called lime-induced chlorosis. The problem is complex, as indicated by Brown and Holmes (1956) and Porter and Thorne (1955). Species and varieties of plants differ in their iron requirements, susceptibility to lime- induced chlorosis, and inter acting soil f actors which affect iron supply (Thorne et al 1950). Chlorosis of plants does not appear, therefore, to stem from a common causative factor. At least a part of this difference has been found to be associated with the plant roots. Thus, through the use of resistant root stock Wann (1941) was able to produce non-chlorotic grapes. These grapes grown under similar conditions without the resistant root stock would have been high1y chlorotic. Certain citrus root stocks have also been used on calcareous soils because they give citrus trees resistance to chlorosis.

In response to the emerging Cold War conflict, American policymakers adopted cultural diplomacy as a permanent component of US foreign policy for the first time. In an attempt to win the hearts and minds of the worlds’ people, American leaders utilized international cultural outreach, through methods such as exchanges of students, teachers, and scientists, traveling exhibitions, radio and television broadcasts, publications, and tourism, among others. In recent decades, many historians have begun to explore the significance of these efforts. However, none of these works have examined the experience of those individuals who actually participated in the exchanges. This work begins to fill that void by focusing on American academics who travelled to the Soviet Union on educational exchange during the Cold War. By exploring their personal reports and recollections of their time behind the Iron Curtain, this study illuminates how they perceived their own nation, its values, and their own sense of national identity and purpose. Ultimately, I argue that these Americans used the image of the inferior Soviet “other” to cement a more unified national identity and affirm their feelings of American exceptionalism. Still, though their belief in American superiority remained constant throughout, their commitment to actively serve as America’s cultural representatives abroad waxed and waned at different points in the Cold War. Namely, although at the start of the program in 1958 exchangees enthusiastically assisted in spreading American values abroad, when American public opinion shifted against the Vietnam War their efforts immediately ceased. This shows specific examples of how conceptions of American ideology changed in this period. For a time, these Americans, and probably many others, abandoned a tenet that had long been central to American identity- the belief that the United States had the duty to assert its ideology globally. It was not until the last years of the Cold War, when American and Soviet leaders made significant improvements in superpower relations, that these individuals felt confident enough to serve again as cultural ambassadors. These fluctuations provide a case study of the direct and personal effects of major political and foreign policy shifts on ordinary Americans.

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