Narrow Results

We analyze cross-correlation between return fluctuations of stocks of an emerging market by using random matrix theory (RMT). We test the statistics of eigenvalues of cross-correlation (C) between stocks of the Tehran Price Index (TEPIX) as an emerging market and compare these with a mature market (US market). According to the "null hypothesis," a random correlation matrix constructed from mutually uncorrelated time series, the deviation from the Gaussian orthogonal ensemble of RTM is a good criterion. We find that a majority of the eigenvalues of C fall within the bulk (RMT bounds between λ₊ and λ_-) for the eigenvalues of the random correlation matrices. Further, we find that the distribution of eigenvector components for the eigenvectors corresponding to the largest deviating eigenvalues, display systematic deviations from the RMT prediction. Analyzing the components of the deviating eigenvectors by Inverse Participation Ratio, leads us to know that the largest eigenvalue corresponds to an influence common to the whole market. Our analysis of the other deviating eigenvectors shows distinct industries, whose identities corresponds to the structure of the Iran business environment.

Bt Cotton Benefits Chinese Farmers.

India Launches Transgenic Crops Development Program.

Patent Disputes in Rice Research.

Personal computers (PC) have significantly increased demand for mass market software. Computer software has also now become an enabler for all fields of technology; innovation is inevitable for growth of this fast emerging industry. For economic viability for such innovations, there is an increased advocacy for incorporating software as a patentable subject matter forcing countries to make computer software patentable either completely or in limited form. However, patenting of computer software related inventions have not been without its own set of controversies. Not only software patents globally are being protected under vastly divergent legal perspectives, with varying interpretations of trade-related aspects of intellectual property rights (TRIPS) agreement, but are also still evolving through continued interventions from policy makers and federal courts. This has led to a very broad boundary between patentable and non-patentable subject matter and has resulted in a large number of trivial inventions being accepted as patents in this area. This paper analyzes these varying perceptions as regards to software patents in different jurisdictions like United States, Europe, Japan and India. Linkage between software patents and innovation has also been attempted by taking into account historical perspectives of technological arts and their effect on promoting innovation.

Developing economies are aiming to upgrade the sophistication of their exports. Previous studies have explored the drivers of export sophistication. However, the intellectual property rights (IPR) protection has attracted little attention. This paper studies how IPR protection affects export sophistication. The empirical results show that in developing countries, foreign direct investment (FDI) and imports play a mediating role in the relationship between IPR protection and export sophistication; while for developed countries, the corresponding mediating effects rely on research and development (R&D) and FDI. In addition, when making a more accurate classification of developing countries' imports and inward FDI origin, we find that the mediating effect depends on South–South imports and North–South FDI.