Effect of spin rotation coupling on spin transport

We have studied the spin rotation coupling(SRC) as an ingredient to explain different spin related issues. This special kind of coupling can play the role of a Dresselhaus like coupling in certain conditions. Consequently, one can control the spin splitting, induced by the Dresselhaus like term, which is unusual in semiconductor heterostucture. Within this framework, we also study the renormalization of the spin dependent electric field and spin current due to the $\vec{k} . \vec{p}$ perturbation, by taking into account the interband mixing in the rotating system. In this paper we predict the enhancement of the spin dependent electric field resulting from the renormalized spin rotation coupling. The renormalization factor of the spin electric field is different from that of the SRC or Zeeman coupling. The effect of renormalized SRC on spin current and Berry curvature is also studied. Interestingly, in presence of this SRC induced SOC it is possible to describe spin splitting as well as spin galvanic effect in semiconductors.Comment: 12 pages, no figures, Accepted for publication in Annals of Physic

India’s Outward Foreign Direct Investment: Closed Doors to Open Souk

Abstract: Spectacular liberalisation of trade and investment policies opened the floodgate of capital flows in and out of India from the mid 1990s. This colossal capital flows facilitated the rapid economic growth and raised the country’s profile as one of the super powers in the region. The recent surge of outward foreign direct investment (OFDI) from India has a significant balance of payments as well as enormous socio economic effect in securing the country’s position as a new economic power in the global context. Since the study on the OFDI is sparse, this paper attempts to contribute to the literature by examining the major determinants of OFDI from India using the cointegration and Vector Error Correction Model over 1970 and 2009. The results of our study indicate that the dramatic financial and trade liberalisation has instigated the gigantic outflow of investment and acquisition by India’s firms. Furthermore, the domestic economic environment including the growing human capital stocks, increasing international competitiveness, large influx of inflow of foreign capital and increased domestic savings are positively and significantly influencing India’s huge outward capital flows in recent decade. However, improvement in domestic technological capabilities, rising standard of living and increased interest rates are deterrents to the OFDI of the country in the long run. Granger causality test also indicates that while all the above mentioned independent variables are Granger causing OFDI, nevertheless, outward FDI does not Granger cause any of the factors determining the OFDI from India.Keywords: Inward FDI, Outward FDI, Economic Growth, India, Cointegration, VECM, Endogeniety test, Granger Causality Test

Real Exchange Rates and International Competitiveness of SAAR Countries: An Analysis of Bangladesh, India, Pakistan and Sri-Lanka for 1960-2000

In an attempt to measure the intra and international trade competitiveness, we construct the indices of real exchange rate (RER), the conventional measure of competitiveness, for four major South Asian Association of Regional Cooperation (SAARC) nations using annual data for the period of 1960-2000. The objective of the study is to examine the performances of the sampled countries especially after the economic reforms through trade liberalisation that have been taken place under South Asian Preferential Trading Arrangement (SAPTA) and comparing the evolution in Bangladesh, India, Pakistan and Sri Lanka. Our empirical results reveal that in terms of intra regional trade the smaller countries, namely Bangladesh and Sri Lanka reap the higher gains from openness in their trade regime. However, Bangladesh and India gained international competitiveness not until mid 1990s. Movements of Real exchange rates for Pakistan and Sri Lanka indicate that trade liberalisation efforts did not seem to have much positive gain in terms of international trade.SAARC, SAPTA, SAFTA, Trading Bloc, Intra- and international Competitiveness, Real exchange rate, Openness in trade regime

Inertial spin Hall effect in noncommutative space

In the present paper the study of inertial spin current(that appears in an accelerated frame of reference) is extended to Non-Commutative (NC) space. The $\theta$-dependence, ($\theta$ being the NC parameter), of the inertial spin current is derived explicitly. We have provided yet another way of experimentally measuring $\theta$. Our bound on $\theta$ matches with previous results. In Hamiltonian framework, the Dirac Hamiltonian in an accelerating frame is computed in the low energy regime by exploiting the Foldy-Wouthuysen scheme. The NC $\theta$-effect appears from the replacement of normal products and commutators by Moyal *-products and *-commutators. In particular, the commutator between the external magnetic vector potential and the potential induced by acceleration becomes non-trivial. Expressions for $\theta$-corrected inertial spin current and conductivity are derived. The $\theta$ bound is obtained from the out of plane spin polarization, which is experimentally observable.Comment: 11 pages, no figures, Accepted in Phys. Lett.

ARDL Modelling Approach to Testing the Financial Liberalisation Hypothesis

It is a stylised fact that financial "repression" retards economic growth. Hence, financial liberalisation is advocated to remove the stranglehold on the economy. Financial liberalisation policy argues that deregulation of interest rate would result into a higher real interest rate which would lead to increased savings, increased investment and achieve efficiency in financial resource allocation. Past studies have reported inconclusive results regarding the interest rate effects on savings and investment. This paper examines the financial liberalisation hypothesis by employing autoregressive distributed lag (ARDL) modelling approach on Nepalese data. Results show that the real interest rate affects both savings and investment positively.Financial Liberalisation, Interest Rate Effects, Unit Roots, Cointegration, ARDL Modelling