nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2015‒04‒02
seventeen papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Policy Implications of Economic Complexity and Complexity Economics By Elsner, Wolfram
  2. Research joint ventures in an R&D driven market with evolving consumer preferences: An evolutionary multi-agent based modelling approach By Cevikarslan S.
  3. A Selective Review of Recent Quantitative Empirical Research in Marxist Political Economy By Basu, Deepankar;
  4. Revisiting the Muslim Feminists’ Discourse on Gender Equality By Adibah Muhtar; Akmaliza Abdullah; Siti Suhaila Ihwani
  6. Promises and pitfalls in environmentally extended input-output analysis for China: a survey of the literature By Hawkins, Jacob; Ma, Chunbo; Schilizzi, Steven; Zhang, Fan
  7. Social-Ecology : exploring the missing link in sustainable development By Eloi Laurent
  8. Research portfolios in science policy: moving from financial returns to societal benefits By Matthew L. Wallace; Ismael Rafols
  9. Empirical Study on the Relationship Between Technological Convergence and Industry Convergence in Korea By Young-Hyun Jin; Yong-Gook Bae; Jihee Kang; Jeong Il Park; Sangki Jeong
  10. Going Beyond Instrument Interactions: Towards a More Comprehensive Policy Mix Conceptualization for Environmental Technological Change By Karoline S. Rogge; Kristin Reichardt
  11. Hegemony in the Local Order and Accumulation in the Global: Canada and Libya By Sean McMahon;
  12. Regional development, income distribution and gender in Bolivia: Insights from a 2012 Social Accounting Matrix (SAM) and Multiplier Analysis By Luis Carlos Jemio; Lykke E. Andersen; Clemens Breisinger; Manfred Wiebelt
  13. Gender Equality and Sustainable Development With a Focus on the Coastal Fishing Community of Bangladesh By Md. Maruf Hossan Chowdhury; Mohammed Naim A. Dewan; Mohammed Quaddus; Marita Naude; Abu Siddique
  14. The Warfare-Welfare Nexus. An Ecological-Evolutionary Conceptual Framework for the Analysis of the Rise and Decline of National Public Welfare Systems By MADDALONI, Domenico
  15. Similarity and Clustering of Banks: Application to the Credit Exposures of the Czech Banking Sector By Josef Brechler; Vaclav Hausenblas; Zlatuse Komarkova; Miroslav Plasil
  16. Fra Marx e List: sinistra, nazione e solidarietà internazionale By Sergio Cesaratto
  17. Profitability in India’s Organized Manufacturing Sector: The Role of Technology, Distribution, and Demand By Basu, Deepankar; Das, Debarshi

  1. By: Elsner, Wolfram
    Abstract: Policy implications of complexity economics (CE) are investigated. CE deals with “Complex Adaptive (Economic) Systems” [CA(E)S], generally characterized by mechanisms and properties such as “emergence” of structure or some capacity of “self-organization”. With this, CE has manifold affinities with economic heterodoxies. CE has developed into a most promising economic research program in the last decades. With some time lag, and boosted by the financial crisis and Great Recession, a surge to explore their policy implications recently emerged. It demonstrated the flaws of the “neoliberal” policy prescriptions mostly derived from the neoclassical mainstream and its underlying more simplistic and teleological equilibrium models. However, most of the complexity-policy literature still remains rather general. For a subset of CA(E)S, those with heterogeneous human agents interacting, particularly on networks, using evolutionary games in the “evolution-of-cooperation” tradition, therefore, we exemplarily derive more specific policy orientations and tools, and a framework policy approach called Interactive Policy.
    Keywords: Economic complexity; complex adaptive (economic) systems; equilibrium modeling; self-organization; structural emergence; microfoundations; social-dilemma games; evolution of cooperation; economic policy; regulation; institutional design; recognized interdependence; futurity; rime horizons; network structures; interactive/institutional policy; meritorics; pragmatism; negotiated economy.
    JEL: B4 B5 C72 D02 H4 P41
    Date: 2015–03–26
  2. By: Cevikarslan S. (UNU-MERIT)
    Abstract: RD collaborations have increasingly attracted the attention of both academic and business circles in the last couple of decades. Several empirical studies have concentrated on the firms incentives to participate in these collaborations. This paper presents an alternative approach to RD collaborations using an evolutionary, multi-agent based and sector-level RD model. The model will firstly be used to simulate the evolution of an RD driven market composed of profit-driven firms and boundedly rational consumers. Next, frequently discussed research questions in the relevant empirical literature will be explored. This modelling exercise will extend beyond a basic confirmation/rejection of these research questions by showing that the way a firm is defined as an RD collaborator has a significant effect on research results.
    Keywords: Current Heterodox Approaches: Institutional; Evolutionary; Production, Pricing, and Market Structure; Size Distribution of Firms; Innovation and Invention: Processes and Incentives;
    JEL: B52 L11 O31
    Date: 2015
  3. By: Basu, Deepankar (Department of Economics, University of Massachusetts); (; )
    Abstract: This paper surveys some of the quantitative empirical research in two areas of Marxist political economy: (a) Marxist national accounts, and (b) Marxist responses to the Sraffa-based critique of the 1970s. With respect to the first area, this paper explains the basic methodology underlying the construction of Marxist national accounts from traditional input-output data. With respect to the second area, it offers a short review of the theoretical literature surrounding the Sraffa-based critique of the 1970s, and subsequently discusses three Marxist responses in detail: the standard interpretation, the probabilistic interpretation and the new interpretation. It explains the basic theoretical positions of these three approaches and reviews the quantitative empirical work conducted within each.
    Keywords: Marxist political economy; national accounts; value controversy
    JEL: B51 C1
    Date: 2015
  4. By: Adibah Muhtar (UNIVERSITI TEKNOLOGI MALAYSIA (UTM)); Akmaliza Abdullah (Universiti Teknologi Malaysia); Siti Suhaila Ihwani (Universiti Teknologi Malaysia)
    Abstract: The concept of gender deals with women's and men's place in society and social expectations from them. Gender relations vary from society to society and they are shaped in historical process. Gender equality, concisely defined as equal rights, opportunities and treatment between men and women, is yet an on-going contentious concept among Muslim feminists and women activists. Of late, gender studies have garnered a large number of interests from researchers across the globe, not to mention the Muslim World. The awareness of gender and Feminism in Muslim societies emerged by end of 19th century, namely in Middle East countries like Egypt, Turkey and Iran. Initially, Muslim women’s movement had been focusing on claiming women’s rights in public sector particularly in education, along with the Nationalism campaigns. However, as the Muslim feminist scholarship expands and grows, the discourse is shifted to contending Islamic Law pertaining women, attempting to reinterpret and re-read Islamic sources, and eventually reconstruct the Shari’ah or Islamic Law.The Muslims by and large are looking into this debatable notion from three standpoints. First, those who advocate total equality between men and women in every spheres of life, regardless of the differences in the natures and traits between both parties, physically and psychologically. Second, at the opposing end those who deny much of women’s rights and inevitably practice bias towards women in their customs and traditions, which subsequently create some kind of defensive and rebellious reactions from women. Third, those who advocate the moderate approach in dealing with gender issues, and seeking for the best appealing viewpoint by highlighting the ‘complementary idea’ in men-women relation. Hence, this paper attempts to revisit the trajectory of Muslim feminists and put forward the discursive notion of gender equality among Muslim scholarships, accentuating the various perspectives and approaches in dealing with it. It proposes that even though gender is not specifically discussed as a distinctive theme in Islam by early Muslim scholars, it nevertheless allocates distinctive status, rights and opportunities for women, corresponding to their distinctive natures and traits.
    Keywords: Muslim feminist, woman, gender, equality, feminism
    Date: 2014–05
  5. By: utku altunöz (Social Science);
    Abstract: Dominant neo classical system is criticized for not solving the problems of current economics. In other words, it is seen the reason of current economic issues. And also it is believed that unsolved problems come with global crisis were developed by dominant classical thought. In 2000’s Post Autistic economic movement came to the scene with published declaration by pupils of Ecole Normale Superieure in France. According to declaration dominant economic thought turn into the autistic characteristic. Due to this fact, economic science is vanished by intense mathematical formulas. So that had broken of connection with real life. In this paper first, basic hypothesis of neo classical thought will be examined. Following that, solving suggestion for problematic area in the light of autistic movement will be explained. In the other words, especially in the course of time, the current economic system remains incapable to meet society’s expectations, demands, and requirements, the system and method debate has been increasing. Recently, the basic reason that led to criticism by focusing the global economic crisis has developed in the direction of the Neo-classical system. Another purpose of this study is to open discussion of last 2008 global crisis to Turkey’s assessment from the view point of Post Autistic Economics.
    Keywords: The Post Autistic Economics Movement, Neo-classical Economics, The 2008 Global Economic Crisis
    JEL: E13 P16 P51
    Date: 2014–06
  6. By: Hawkins, Jacob; Ma, Chunbo; Schilizzi, Steven; Zhang, Fan
    Abstract: As the largest developing economy, China plays a key role in global climate change. Environmentally extended input-output analysis (EE-IOA) is an important and insightful tool seeing widespread use in studying large-scale environmental impacts in China: calculating and analyzing greenhouse gas emissions, carbon and water footprints, pollution, and embedded energy. Chinese EE-IOA are hindered, however, by unreliable data and limited resolution. This paper reviews the body of literature regarding EE-IOA for China in peer-reviewed journals and provides an overview of the articles, examining their methodologies, environmental issues addressed, and data utilized. This paper further identifies the shortcomings in using input-output analyses to gauge environmental impacts in China. Potentially fruitful areas of expansion in Chinese EE-IOA research are denoted, including under-researched environmental issues, underutilized methodologies, and techniques to disaggregate data to move beyond the limitations inherent in official Chinese input-output data.
    Keywords: China, input-output, disaggregation, Environmental Economics and Policy, Resource /Energy Economics and Policy, C67, D57, F18, O53, Q4, Q5,
    Date: 2015–03–22
  7. By: Eloi Laurent (OFCE)
    Abstract: Environmental challenges are, at their root, social problems that arise from income and power inequality. Thus, inequality is an environmental issue just as environmental degradation is a social issue(forming a “social-ecological nexus”), and solutions must address them jointly through principles and institutions rooted in justice. This article develops a two-sided “social- ecological” approach to offer both analytical and empirical insights into the dynamics of this relationship and a policy path forward
    Keywords: social ecology; social ecological nexus; inequality; social ecological transition
    Date: 2015–03
  8. By: Matthew L. Wallace (Ingenio (CSIC-UPV),Universitat Politècnica de València, València); Ismael Rafols (Ingenio (CSIC-UPV),Universitat Politècnica de València, València; SPRU, University of Sussex, UK; Observatoire des Sciences et Téchniques (HCERES-OST), Paris)
    Abstract: Funding agencies and large public scientific institutions are increasingly using the term “research portfolio” as a means of characterising their research. While portfolios have long been used as a heuristic for managing corporate R&D (i.e., R&D aimed at gaining tangible economic benefits), they remain ill-defined in a science policy context where research is aimed at achieving societal outcomes. In this article we analyze the discursive uses of the term “research portfolio” and propose some general considerations for their application in science policy. We explore the use of the term in private R&D and related scholarly literature in existing science policy practices, and seek insight in relevant literature in science policy scholarship. While the financial analogy can in some instances be instructive, a simple transposition from the world of finance or of corporate R&D to public research is problematic. However, we do identify potentially fruitful uses of portfolio analysis in science policy. In particular, our review suggests that the concept of research portfolio can indeed be a useful analytical instrument for tackling complex societal challenges. Specifically, the strands of scholarship identified suggest that the use of research portfolio should: i) recognize the diversity of research lines relevant for a given societal challenge, given the uncertainty and ambiguity of research outcomes; ii) examine the relationships between research options of a portfolio and the expected societal outcomes; and iii) adopt a systemic perspective to research portfolios – i.e., examine a portfolio as a functional whole, rather than as the sum of the its parts. We argue that with these considerations, portfolio-driven approaches may foster social inclusion in science policy decisions, help deliberation between “alternative” portfolios to tackle complex societal challenges, as well as promote cost-effectiveness and transparency.
    Keywords: research portfolio, prioritisation, research landscape, societal challenges
    Date: 2015–03
  9. By: Young-Hyun Jin (Korea Institute of S&T Evaluation and Planning); Yong-Gook Bae (Korea Institute of S&T Evaluation and Planning); Jihee Kang (Korea Institute of S&T Evaluation and Planning); Jeong Il Park (Korea Institute of S&T Evaluation and Planning); Sangki Jeong (Korea Institute of S&T Evaluation and Planning)
    Abstract: “Convergence†is one of the most frequently heard keywords in recent economic development discussions. Convergence between technologies (technological convergence) is now widely known to be an effective strategy for Science and Technology (S&T) innovation. Industry convergence is also recognized as a promising mechanism for creating new markets. Many researchers have been trying to measure and analyze the convergence phenomena. Though some successfully describe the current status of technological and/or industry convergence, the relationship between technological convergence and industry convergence has not yet been empirically and comprehensively studied. In this study, we empirically analyzed recent cases of technological and industry convergence in South Korea and the relationships between them. Patent data were used to analyze technological convergence. If more than two different classification codes (subclass of the IPC code) appeared in one patent, we considered it a new case of convergence between the two (or more) technologies. Thus, the degree of convergence between two technologies is represented by the number of patent having two different classification codes related to the technologies. All patent applications in Korea from 2009 to 2011 were surveyed and the results were visualized and analyzed using the social network analysis (SNA) method. This study used the production inducement coefficients (more specifically, the forward linkage effect) from the input-output analysis (I/O analysis) as a proxy for the degree of industry convergence, for the lack of a more widely-accepted methodology in the literature. From structural changes in the production inducement effect, we infer the convergence between industries (industry convergence from the economic point of view). In order to analyze the relationship between technological convergence and industry convergence, the technological convergence network obtained from patent analysis was converted into a technology-mediated industry convergence network (industry convergence from the technological point of view) using a patent-industry concordance table. The network of the technology-mediated industry convergence was compared to the industry convergence network deduced from the I/O analysis. The results show that technological convergence is active in the electrical engineering and chemistry fields. Across technology fields, however, convergence is limited. The convergence between electronics/electrical engineering industries was active from both the technological and economic point of view. However, the technology-mediated industry convergence network between electronics/electrical engineering industries and general/special industrial machinery industries does not indicate convergence in the economic point of view.More detailed results will be presented in the conference.
    Keywords: technology convergence, industry convergence, convergence
    JEL: O32 O33
    Date: 2014–10
  10. By: Karoline S. Rogge (Fraunhofer Institute for Systems and Innovation Research (Fraunhofer ISI), Karlsruhe, Germany; SPRU – Science Policy Research Unit, University of Sussex, Brighton BN1 9SL, UK); Kristin Reichardt (Copernicus Institute of Sustainable Development, Utrecht University, Utrecht, The Netherlands)
    Abstract: Reaching a better understanding of the policies and politics of transitions presents a main agenda item in the emerging field of sustainability transitions. One important require- ment for these transitions, such as the move towards a decarbonized energy system, is the redirection and acceleration of technological change, for which policies play a key role. Several studies of policies supporting environmental technological change have ar- gued for the need to combine different policy instruments in so-called policy mixes. However, existing policy mix studies often fall short of reflecting the complexity and dy- namics of actual policy mixes and the underlying politics of (re)designing them. In this paper we take a first step towards a more comprehensive, interdisciplinary policy mix concept for environmental technological change based on a review of the bodies of lit- erature on innovation studies, environmental economics and policy analysis. The concept introduces a clear terminology and consists of the three building blocks elements, proc- esses and characteristics, which can be delineated by several dimensions. Throughout the paper, we illustrate the concept using the example of the policy mix for fostering the transition of the German energy system to renewable power generation technologies. We argue that the proposed concept provides an integrating analytical framework for empirical studies analyzing the impact of the policy mix on environmental technological change and sustainability transitions more broadly. Finally, we derive policy implications and suggest avenues for future research.
    Keywords: Policy mix; policy strategy; instrument mix; policy making and implementation; consistency; coherence; credibility; comprehensiveness; environmental technological change; eco-innovation; sustainability transitions
    Date: 2015–03
  11. By: Sean McMahon (The American University in Cairo);
    Abstract: My paper analyzes Canadian involvement in the war on Libya in 2011. My point of departure is the question: why was Canada involved in the bombing of Libya? I quickly recognize that it is facile to argue that Canada bombed Libya simply because it is a member of the North Atlantic Treaty Organization (NATO). Other NATO members, most notably Germany, did not support UN Resolution 1973 which authorized the use of force to protect Libyan civilians. Furthermore, a number of NATO members, including usually staunchly supportive Poland, refused to participate in Operation Unified Protector. In fact, only 14 of the alliance's 28 members ultimately contributed war materiel. Consequently, I pose the subsequent query: why was Canada disproportionately involved in the bombing of Libya? Canadian involvement in the war on Libya can only be properly understood by locating the policy in the politics of Fernand Braudel's structural time. My argument is that the Canadian state supported the Libya campaign, and participated as it did, in the service of global and local interests of the transnational historic bloc led by finance capital. Globally, the war facilitated accumulation on the part of this bloc by temporally displacing the ongoing crisis of surplus capital. Locally, the war on Libya supported this bloc's political project in Canada by reaffirming a neoliberal nationalist ideology. The war was against value, including people, in Libya and resistant subordinate social forces in Canada's politico-economic order, NATO's Operation Unified Protector and Canada's Operation Mobile were material attacks in Libya and techniques of social domination in Canada. I execute my argument in four stages. First, I explain my analytical apparatus. More specifically, I adumbrate the specific ideas and insights I deploy from the historical materialist tradition. Second, I demonstrate that the prevailing readings of the war on Libya, including Canada's participation in it, are, at best, analytically deficient and at worst, ahistorical and bereft of critical reflection. It must be noted that commentaries on Canadian policy vis-Ă -vis Libya are almost non-existent, so much of this review is cast in the broader terms of the global political-economic order. Third, I explain how the war on Libya temporally displaced the problem of surplus capital and served an ideological function in Canada. Fourth and finally, I conclude with some thoughts regarding local social implications of the Canadian involvement in the war.
    Keywords: Libya, Canada, historical materialism, hegemony, accumulation, transnational historic bloc, crisis of surplus capital, entrepreneurial Canadian, Operation Unified Protector, Operation Mobile
    Date: 2014–07
  12. By: Luis Carlos Jemio (Institute for Advanced Development Studies (INESAD)); Lykke E. Andersen (Institute for Advanced Development Studies (INESAD)); Clemens Breisinger (International Food Policy Research Institute, Washington, D.C.); Manfred Wiebelt (Kiel Institute for the World Economy, Kiel, Germany)
    Abstract: This paper describes the construction of the most detailed, openly accessible Social Accounting Matrix (SAM) for Bolivia to date. In addition to allowing for “standard” socio-economic analysis common for SAMs - like assessing the linkages between production, factor income distribution and households’ incomes and expenditures – the SAM presented in this paper makes detailed economic assessments at the subnational level, by gender and at detailed agricultural subsector levels, possible. Sections 1-4 present the methodology and data sources used, explain assumptions and criteria adopted for SAM disaggregation, and discuss key findings with a focus on distributional features. Section 5 presents results from a simple SAM multiplier model and section 6 concludes. It is the authors’ hope that this SAM database can make a contribution to evidence-based policy making that helps to further reduce poverty and food insecurity in Bolivia.
    Keywords: Social Accounting Matrix, Bolivia
    Date: 2015–01
  13. By: Md. Maruf Hossan Chowdhury (Graduate School of Business, Curtin University); Mohammed Naim A. Dewan (Graduate School of Business, Curtin University); Mohammed Quaddus (Graduate School of Business, Curtin University); Marita Naude (Graduate School of Business, Curtin University); Abu Siddique (University of Western Australia)
    Abstract: Sustainable development encompasses achieving economic development while maintaining social solidarity and environmental stewardship. Present studies campaign for the agenda of women empowerment for sustainable development in Bangladesh since women are one of the largest disadvantaged groups in this country. The conditions faced by coastal women are even more deplorable and they represent a substantial proportion of the total number of women in the country. The aim of this research is to determine the indicators of gender inequality in Bangladesh with special emphasis on the coastal fishing communities of Cox’s Bazar, Bangladesh; and to explore the ways and means of mitigating gender inequality for sustainable development of that area. Data were collected using the semi-structured interviews from the coastal women, NGO members and local government representatives of coastal fishing community of Bangladesh. Analytical Hierarchy Process (AHP) integrated Quality Function Deployment (QFD) is used to analyse the data. The study finds that ensuring education, access to financing and skill development are the most important factors in mitigating gender inequality for sustainable development.
    Date: 2014
  14. By: MADDALONI, Domenico (CELPE - Centre of Labour Economics and Economic Policy, University of Salerno - Italy)
    Abstract: In this paper we propose an ecological and evolutionary model for the historical comparative analysis of some major changes in national public welfare systems. In section 1 the essential features of the conceptual framework are outlined, by shortly reviewing some recent works developed by scholars that are working in an ecological, evolutionary or historical-comparative perspective. Sections 2-4 are devoted to an application of the model to the analysis of, respectively, the advent, growth and recent downtrend of national public welfare systems. The analysis shows the role played by changes in military technology and organization in influencing the change of state structures – at first towards the provision of public transfers and services for citizens’ welfare, more recently instead quite in the opposite direction. The aim of the paper is to show the usefulness of an ecological and evolutionary thinking in this field of study, by highlighting aspects so far hardly considered in the historical development of welfare systems.
    Keywords: Welfare; International relations; Social and econoc stratification; Public policy
    JEL: F50 I30 Z13 Z18
    Date: 2014–12–30
  15. By: Josef Brechler; Vaclav Hausenblas; Zlatuse Komarkova; Miroslav Plasil
    Abstract: After the recent events in the global financial system there has been significant progress in the literature focusing on the sources of systemic importance of financial institutions. However, the concept of systemic importance is in practice often simplified to the problem of size and contagion due to interbank market interconnectedness. Against this backdrop, we explore additional features of systemic importance stemming from similarities between bank asset portfolios and investigate whether they can contribute to the build-up of systemic risks. We propose a set of descriptive methods to address this aspect empirically in the context of the Czech banking system. Our main findings suggest that the overall measure of the portfolio similarity of individual banks is relatively stable over time and is driven mainly by large and well-established banks. However, we identified several clusters of very similar banks whose market share is small individually but which could become systemically important when considered as a group. After taking into account the credit risk characteristics of portfolios we conclude that the importance of these clusters is even higher.
    Keywords: Contagion, correlation, financial stability, systemic risk, too-many-to-fail
    JEL: B12 B52
    Date: 2014–12
  16. By: Sergio Cesaratto (University of Siena)
    Abstract: In questo breve saggio esaminiamo l’importanza attribuita da Friedrich List allo Stato nazionale nell’emancipazione economica di un paese a fronte della visione cosmopolita del capitalismo e degli interessi dei lavoratori che Marx gli contrappone. Rifacendoci a uno spunto di Massimo Pivetti sosteniamo che lo Stato nazionale sia lo spazio più prossimo in cui una classe lavoratrice nazionale può legittimamente sperare di modificare a proprio vantaggio i rapporti di forza. Nell'aver sostenuto lo svuotamento della sovranità nazionale in nome di un europeismo tanto ingenuo quanto superficiale, la sinistra ha contribuito a far mancare a sé stessa e ai propri ceti di riferimento il terreno su cui espletare efficacemente l’azione politica contribuendo in tal modo allo sbandamento democratico del paese.
    Keywords: Socialist Marxian Sraffian, Central banks and their policies, Current account adjustment, International lending and debt problems, Macroeconomics issues of monetary unions.
    JEL: B51 E58 F32 F34
    Date: 2015–03
  17. By: Basu, Deepankar (Department of Economics, University of Massachusetts); Das, Debarshi (Indian Institute of Technology, Gowahati; )
    Abstract: Using aggregate data from the Annual Survey of Industries, we analyze profitability in India’s organized manufacturing sector from 1982-83 to 2012-13. Over the whole period of analysis, the rate of profit grew at about 1 percent per annum, primarily driven by a rising share of profits. We use structural break tests to identify medium and short run regimes. We find two medium run regimes, one of declining profitability (1982-83 to 2001-02), and another of growing profitability (2001-02 to 2012-13). We find six short run regimes, of which only two are periods of rising profitability, 1987-88 to 1996-97, and 2001-02 to 2007-08. All other short run periods have witnessed declining profitability. Profit rate decomposition analysis shows that both in the medium and short run, technological factors have been the most important determinants of changes in profitability.
    Keywords: Organized manufacturing; India; profitability; technology and distribution
    JEL: B51 E11
    Date: 2015

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