LCCM Research Digest (March-April 2007)
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Transcript of LCCM Research Digest (March-April 2007)
8/4/2019 LCCM Research Digest (March-April 2007)
http://slidepdf.com/reader/full/lccm-research-digest-march-april-2007 1/8
@FFB Qnvnlqfc Mohnv} Wlhn <
OVVK <:>3"3833
Blqfc " Lwqo` 1778
H~omn`oknv jdq }cn Mnzn`dwbnk}dj lk Nfd}d~qovb Wlqi
]cn jdf~v dj }cov wlwnq ov }d qnfdbbnkm h~omn`oknvdk }cn Mnzn`dwbnk} dj Nfd}d~qovb jlfo`o}onv+ ]cn }lindjj wdok} ov dkn dj @l Fdkvd`lfodk Fd``nhn Blko`l‟v#@FFB/ d~}qnlfc vo}nv, Wlk}lalkhlk, K~nzl Nfoel+
Hqnnkokh Wlk}lalkhlk
@l Fdkvd`lfodk Fd``nhn Blko`l, }cqd~hc o}v
Fdbb~ko}y Qn`l}odkv lkm Ns}nkvodk VnqzofnvDjjofn, clv nbalqinm dk l hqnl} bovvodk dj
cn`wokh }cn fdbb~ko}y dj Wlk}lalkhlk, K~nzlNfoel }cqd~hc }cn mnzn`dwbnk} dj lk Nfd`dhofl`
Wlqi+H~omnm ay }cn L~h~v}okolk zl`~nv dj
an}}nqokh }cn `oznv dj d}cnqv, }cov ov l wqdenf} dj
}cn fd``nhn mnwlq}bnk} xo}c l `ozn`ocddm#ok}nhql}nm jlqbokh/ fdbwdknk} jdq }cn `dfl`
anknjofolqonv+ L 1>"ynlq BDL xlv nk}nqnm ok}dan}xnnk @FFB lkm }cn B~kofowl`o}y dj
Wlk}lalkhlk, K~nzl Nfoel dk Vnw}nbanq <,177=+ ]cov wlznm }cn xly jdq }cn v}lq} dj }cn
obw`nbnk}l}odk dj l hqnnkokh #qnjdqnv}l}odk/
wqdfnvv }d wqd}nf} }cn xl}nqvcnm dj Wlk}lalkhlkMlb lkm wdq}odk dj }cn 1=7 cnf}lqnv b~kofowl`wlqi lkm }qlkvjdqb }cn lqnl ok}d l kl}~qn(v
clznk lv l `nhlfy dj @FFB }d }cn wndw`n dj
Wlk}lalkhlk lkm }cn Jo`owokd kl}odk #@FFBXnavo}n/+
L} wqnvnk}, }cn hqnnkokh dj Wlk}lalkhlk clvanh~k }d an qnl`ounm, lv xn`` lv }cn hdl}"qlovokh
lkm d}cnq `ozn`ocddm wqdenf}v+ ]cn fcl``nkhn dj}qlkvjdqbokh Wlk}lalkhlk ok}d lk Nfd`dhofl` Wlqiov l jdqbomla`n }lvi anfl~vn }cov xo`` knnm }cn
fdkfnq}nm njjdq}v kd} dk`y dj }cn w~a`of lkm
wqozl}n vnf}dqv, a~} bdv} obwdq}lk}`y, }cn `dflfdbb~ko}onv xcd lqn }cn moqnf} anknjofolqonv dj}cov wqdenf}+ Lv wdok}nm ay Lkmnqvnk #5<<8/, ‐]d
fdk}ok~n }cn hqdx}c dj nfd}d~qovb lv lk
okm~v}qy, o} ov obwdq}lk} jdq hdznqkbnk} lkm
wqozl}n nk}nqwqovn }d wdd` }nfckofl`, f~`}~ql` lkmjoklkfol` qnvd~qfnv }d flqqy d~} l bnlkokhj~
nkzoqdkbnk}l` lhnkml+‒
OBWDQ]LK] FDKVOMNQL]ODKV
Nkzoqdkbnk}l` N}cofvLvomn jqdb }cn joklkfol` qnvd~qfnv }cl}
vcd~`m an fdkvomnqnm ok }cn a~o`mokh dj lk
OKVOMN5 Lmznqvn Mq~h
Qnlf}odkv Wlq} OO
Lk lmznqvn mq~h qnlf}odk#laaqnzol}nm LMQ/ ov l }nqb
}d mnvfqoan }cn ~kxlk}nm,knhl}ozn fdkvn|~nkfnv
vdbn}obnv lvvdfol}nm xo}c}cn ~vn dj mojjnqnk}
bnmofl}odkv+ LMQ ov lwlq}of~`lq }ywn dj lmznqvn
njjnf}+
Bv+ Edy Nql
8/4/2019 LCCM Research Digest (March-April 2007)
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@FFB Qnvnlqfc Mohnv} Wlhn 1
nfd}d~qovb wqdenf}, }cn bdv} obwdq}lk} jlf}dq}d fdkvomnq ov }cn wqdenf}‟v lmcnqnkfn }d vd~km
n}cofl` v}lkmlqmv }cl} lqn nkzoqdkbnk}l``y
vnkvo}ozn lkm l`ohknm }d }cn wqokfow`nv dj v~v}lokla`n mnzn`dwbnk}+
]cn jd``dxokh ov jqdb }cn Mnwlq}bnk} dj ]d~qovb‟v Wqobnq dk Nfd}d~qovb5
<+ Lvvnvv }cn f~qqnk} lkm j~}~qn v}l}n dj lwd}nk}ol` }d~qovb vwd} lkm o}v obwlf} }d}cn nkzoqdkbnk} xcnk w`lkkokh jdq lky}d~qovb mnzn`dwbnk}+ Nkv~qn }cl} lk
Nkzoqdkbnk}l` Obwlf} Lvvnvvbnk} ovblmn anjdqn wqdfnnmokh xo}c }cnmnzn`dwbnk}+
1+ Fdkvomnq }cn f~`}~ql` zl`~nv dj }cn `dfl`wndw`n anjdqn ok}qdm~fokh }d~qovb }dwqnznk} f~`}~ql` vcdfi lkm mnhqlml}odk+
6+ Fdkm~f} fdkv~`}l}odkv xo}c }cn `dfl`
wdw~`l}odk xcd xo`` an ljjnf}nm ay }cn
}d~qovb mnzn`dwbnk}+
=+ ^}o`oun }cn `dfl` wdw~`l}odk jdq
nbw`dybnk} ok }cn }d~qovb"qn`l}nm
nv}la`ovcbnk}v lkm lf}ozo}onv+
>+ Bokoboun }cn ~vn dj vflqfn qnvd~qfnv `oinxl}nq lkm j~n`+
:+ Cn`w ok v}dwwokh mnjdqnv}l}odk lkm blqoknqnvd~qfnv mnfobl}odk+
8+ V}dw dq bokoboun }cn ~vn dj nkzoqdkbnk}l``y mlblhokh bl}nqol`v+Okv}nlm, wqlf}ofn lkm nkfd~qlhn }cn ~vn
dj `dfl` lkm nkzoqdkbnk}"jqonkm`y
bl}nqol`v+
3+ Md kd} wl}qdkoun joqbv dq okmozom~l`v
nkhlhnm ok nkzoqdkbnk}l``y mnv}q~f}ozn
wqlf}ofnv+
Mlzom Lkmnqvnk‟v ‐L Xokmdx }d }cn Kl}~ql`
Xdq`m5 ]cn Mnvohk dj Nfd}d~qovb Jlfo`o}onv‒ flkl`vd vnqzn lv l h~omn ok }cn mnzn`dwbnk} lkmmnvohk dj }cn Wlk}lalkhlk Nfd"Wlqi+ Vdbn dj
}cn obwdq}lk} fdkfnqkv }cl} knnm }d an
lmmqnvvnm jd``dx5
Dqhlkoul}odkl` Ovv~nvLv dkn `ddiv }dxlqm l wlq}of~`lq qnhodk
jdq }cn mnzn`dwbnk} dj nfd}d~qovb jlfo`o}onv,
}cnqn lqn l k~banq dj aqdlm`y fdkfnw}~l` ovv~nv}d lmmqnvv5
<+ Ov }cn lqnl vd ~ko|~n }cl} o} qn|~oqnv
hdznqkbnk} wqd}nf}odk4
1+ Ov }cn okjqlv}q~f}~qn v~jjofonk} }d v~wwdq}
nfd}d~qovb4
6+ Clv lk lkl`yvov annk mdkn dj }cn lqnl‟vnfd`dhof vnkvo}ozo}y4
=+ Ov }cn jlfo`o}y mnzn`dwbnk} jdq f~qqnk}blqin} mnblkm dq mdnv o} lk}ofowl}n
j~}~qn blqin} mnblkm4 Ov wclvnm
mnzn`dwbnk} wdvvoa`n4
>+ Cdx flk }cn jlfo`o}y nswqnvv }cn ~ko|~n
fclqlf}nqov}ofv dj lk lqnl lkm o}v wndw`n4
^wdk vnf~qokh l wd}nk}ol` a~o`mokh vo}n, }cn
mnzn`dwnq vcd~`m lk}ofowl}n }cn jd``dxokh5
<+ Da}lokokh l ad~kmlqy v~qzny lkm wdv}okh}cn wnqobn}nq+
1+ Da}lokokh l }dwdhqlwcof v~qzny xo}c }cn
lwwqdwqol}n fdk}d~q ok}nqzl`v omnk}ojonm jdqmn}lo`nm v}~my+
6+ @dfl}okh vohkojoflk} vo}n jnl}~qnv, }qnnvblqvcnv, v}qnlbv, nsov}okh v}q~f}~qnv #ojlky/, lqfcnd`dhofl``y vohkojoflk} lqnlv, n}f
=+ Da}lokokh lnqol` wcd}dhqlwcv dj }cn vo}n }dfdkjoqb v~qzny okjdqbl}odk+
>+ Omnk}ojyokh vnlvdkl` cohc"xl}nq blqiv+
:+ Okznv}ohl}okh lwwqdzl` qn|~oqnbnk}v ay
`dfl` lkm kl}odkl` lhnkfonv+
8+ Omnk}ojyokh vnovbof udkn f`lvvojofl}odk+
3+ Okznv}ohl}odk dj vdfol` fdkmo}odkv lkm
anlqokh flwlfo}onv jdq a~o`mokh+
?+ Davnqzokh wqnzlo`okh xokmv lkm xnl}cnq
wl}}nqkv lv }cny ljjnf} }cn vo}n m~qokh l`vnlvdkv+
<7+ Qnzonxokh }cn `dfl` xl}nqvcnm `lyd~}
qn`l}ozn }d }cn vo}n, kd}okh lf}ozo}onv dklmelfnk} wqdwnq}y xcofc bly obwlf}
mqloklhn lkm xl}nq |~l`o}y+
8/4/2019 LCCM Research Digest (March-April 2007)
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@FFB Qnvnlqfc Mohnv} Wlhn 6
L Hqlvv Qdd}v Lwwqdlfc
@dfl` okzd`znbnk} ov obwdq}lk} ok }cn
mnzn`dwbnk} dj }cn lqnl anfl~vn dj }cn jd``dxokhqnlvdkv5
<+ @dfl`, f~`}~ql` lkm nfd`dhof ikdx`nmhn flk
fdk}qoa~}n }d }cn mnvohk+1+ ]d nkv~qn `dkh"}nqb v~wwdq} jdq
nfd}d~qovb ok }cn lqnl9
6+ O} flk qnm~fn knhl}ozn f~`}~ql` obwlf}+
L Fcnfi`ov} jdq Mnzn`dwbnk} dj Nfd}d~qovbJlfo`o}onv
]cn jd``dxokh hnknql`ounm fqo}nqol lqnv~hhnv}nm lv l h~omn`okn jdq bdqn mn}lo`nm
v}lkmlqmv qn`l}nm }d vwnfojof `dfl` ovv~nv lkm }cn
nfd`dhofl` fclqlf}nqov}ofv dj l hoznk vo}n5
Vo}n W`lkkokh Ovv~nv
<+ Vo}n a~o`mokhv lkm v}q~f}~qnv vcd~`m lzdomf~}}okh vohkojoflk} }qnnv lkm }d bokoboun
movq~w}odk dj d}cnq kl}~ql` jnl}~qnv+
1+ ]qlo` vyv}nbv vcd~`m qnvwnf} }qlzn`wl}}nqkv lkm clao}l}v dj xo`m`ojn+
6+ Nqdvodk fdk}qd` vcd~`m an fdkvomnqnm ok l``a~o`mokh $}qlo` w`lfnbnk}v+
=+ Moznq} xl}nq djj }qlo`v lkm qdlmv anjdqn o}hlokv v~jjofonk} j`dx lkm zn`dfo}y }d fqnl}nvohkojoflk} nqdvodk wqda`nb+
>+ A~o`mokhv vcd~`m an vwlfnm }d l``dx jdqxo`m`ojn }qlzn` wl}}nqkv lkm jdqnv} hqdx}c+
:+ ^vn dj l~}dbdao`nv lkm d}cnq zncof`nvvcd~`m an v}qof}`y `obo}nm+
8+ Wqdzomn }qlo`cnlm vohkv }d nkclkfn
lwwqnfol}odk dj kl}~ql` nkzoqdkbnk} lkm}d f`nlq`y nv}la`ovc q~`nv dj fdkm~f}+ Wdv}lmmo}odkl` q~`nv ok h~nv} ~ko}v+
3+ Movfqn}n`y `lan` w`lk}$}qnn }ywnv lqd~km
}cn obbnmol}n `dmhokh jlfo`o}onv }dlf|~lok} zovo}dqv xo}c vwnfonv }cny bly
nkfd~k}nq ok }cn v~qqd~kmokh wqnvnqznm$wqd}nf}nm lqnl+
?+ ^}o`oun `dx obwlf} vo}n mnzn`dwbnk}
}nfcko|~nv, v~fc lv adlqmxl`iv, okv}nlm
dj wlznm dq ~kwlznm }qlo`v xcnqnznqwdvvoa`n+
<7+ Qnzonx lky wd}nk}ol` vd~qfnv dj vd~km dqvbn`` lvvdfol}nm xo}c }cn mnzn`dwbnk}}cl} bly an movq~w}ozn }d }cn nkzoqdkbnk}
dq djjnkvozn }d }cn zovo}dq+
<<+ Mnvohk vcd~`m qnj`nf} vnlvdkl` zlqol}odkvv~fc lv qloky vnlvdkv lkm vd`lq lkh`nv+
<1+ Vo}n `ohc}okh vcd~`m an `obo}nm lkmfdk}qd``nm }d lzdom movq~w}odk dj xo`m`ojn
mo~qkl` fyf`nv+
A~o`mokh Mnvohk Ovv~nv
<+ Mnvohk dj a~o`mokhv vcd~`m ~}o`oun `dfl
fdkv}q~f}odk }nfcko|~nv, bl}nqol`v
f~`}~ql` oblhnv xcnqnznq }cl} lwwqdlfc ovnkzoqdkbnk}l``y vd~km+
1+ Wqdzomn a~o`mokh jdqbv lkm oblhnv ok
clqbdky xo}c }cn kl}~ql` nkzoqdkbnk}
Mnvohk a~o`mokhv alvnm dk `dkh"}nqbnkzoqdkbnk}l` v}lkmlqmv lkm kd}knfnvvlqo`y dk vcdq}"}nqb bl}nqol
v}lkmlqmv+6+ Blok}nklkfn dj nfdvyv}nb vcd~`m }lin
wqodqo}y dznq zonx dq mqlbl}of mnvohk
v}l}nbnk}v+=+ Wqdzomn lk lqfco}nf}~qn fdkvov}nk} xo}c
nkzoqdkbnk}l` wco`dvdwconv lkm$dqvfonk}ojof w~qwdvnv+ Lzdom fdk}qlmof}odkv+
>+ ^vn `dx }nfc mnvohk vd`~}odkv xcnqnznqwdvvoa`n+
:+ Wqdboknk}`y wdv} lk nkzoqdkbnk}l` fdmn
dj fdkm~f} jdq zovo}dqv lkm v}ljj+
8+ A~o`mokh wqlf}ofnv vcd~`m qnvwnf} `dflf~`}~ql` v}lkmlqmv lkm bdql`vOkzd`znbnk} dj `dfl` okclao}lk}v vcd~`m an
nkfd~qlhnm }d wqdzomn okw~} jdq }cn
mnvohknq lv xn`` lv l vnkvn dj dxknqvcow
lkm lffnw}lkfn ay `dfl` qnvomnk}v+3+ W`lk jdq j~}~qn hqdx}c dj }cn jlfo`o}y }d
bokoboun j~}~qn mnbd`o}odk lkm xlv}n+
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@FFB Qnvnlqfc Mohnv} Wlhn =
Nknqhy Qnvd~qfn lkm ^}o`o}y Okjqlv}q~f}~qn Ovv~nv
<+ @lkmvflwn n`nbnk}v vcd~`m an w`lfnm }dnkclkfn kl}~ql` znk}o`l}odk dj jlfo`o}onvlkm lzdom ~kknfnvvlqy fdkv~bw}odk dj
nknqhy+
1+ Fdkvomnq ~vn dj wlvvozn dq lf}ozn vd`lq dq
xokm nknqhy vd~qfnv xcnqnznq wqlf}ofl`+
6+ Xl}nq `oknv vcd~`m an vd `dfl}nm lv }dbokoboun movq~w}odk dj lqnlv lmelfnk} }d
}qlo`v xcnqnznq wdvvoa`n+
=+ Cymqdn`nf}qof wdxnq hnknql}odk }nfcko|~nv
vcd~`m an ~}o`ounm xo}c bokobl` movq~w}odk
}d }cn nkzoqdkbnk}+
Xlv}n Blklhnbnk} Ovv~nv
<+ Wqdzomn nfd`dhofl``y vd~km qnv}qddb lkm
}qlvc movwdvl` jlfo`o}onv l} }qlo` cnlmv jdqh~nv}v lkm kdk"h~nv} ~vn+
1+ Wqdzomn jdq nkzoqdkbnk}l``y vd~km
bn}cdmv dj }qlvc qnbdzl`+
6+ Wqdzomn }qlvc v}dqlhn vnf~qn jqdb lkobl`v
lkm okvnf}v+
=+ Wqdzomn jlfo`o}onv jdq qnfyf`okh+
>+ ^}o`oun lwwqdwqol}n }nfckd`dhonv jdq }cn}qnl}bnk} dj dqhlkof xlv}nv, v~fc lvfdbwdv}okh, vnw}of }lkiv, dq aodhlv }lkiv+
:+ @ddi l} bn}cdmv }d qnfyf`n xlv}nxl}nq jdqkdk"wd}la`n ~vnv lkm }d }qnl} }lok}nm
xl}nqv anjdqn }cnoq qn}~qk }d }cn kl}~ql`
nkzoqdkbnk}+
Jokl` Fdkvomnql}odkv
Lj}nq l`` }cn ladzn"bnk}odknm ovv~nv clzn
annk lmmqnvvnm, nzl`~l}odk }dd`v vcd~`m anjdqb~`l}nm }d bdko}dq lkm blok}lok vd~kmnkzoqdkbnk}l` wqlf}ofnv+ Wnq}oknk} |~nv}odkv
vcd~`m l`vd an lkvxnqnm v~fc lv }cn `nkh}c lkm
ns}nk} dj @FFB‟v okzd`znbnk} ok }cn mnzn`dwbnk}dj }cn Wlk}lalkhlk Nfd}d~qovb Wlqi+ Jdq
okv}lkfn, dkfn }cn wlqi anfdbnv dwnql}odkl`, xo``
o} dwnk o}v mddqv }d }cn w~a`of, wlq}of~`lq`y }cn
}d~qov}v4 Wcyvofl` lkm f~`}~ql` ad~kmlqonvvcd~`m l`vd an j`~om`y mnjoknm lkm qnmnjoknm }dlffdbbdml}n }cnvn }qlkvjdqbl}odkv lkm
fclkhnv+
Mnjoko}odk dj ]nqbv
<+ Nfd}d~qovb ‖ l }dd` jdq v~v}lokla`nmnzn`dwbnk} }cqd~hc }cn wqdwnq
blklhnbnk}, wqd}nf}odk lkm fdkvnqzl}odkdj }cn fd~k}qy‟v kl}~ql` lkm f~`}~qlqnvd~qfnv xco`n l} }cn vlbn }obn
hnknql}okh edav lkm a~voknvvnv jdq }cn
`dfl` wndw`n+ #Lhnkml 1<, <??1/
1+ V~v}lokla`n mnzn`dwbnk} " bnn}okh }cn
knnmv dj }cn wqnvnk} xo}cd~}fdbwqdbovokh }cn lao`o}y dj j~}~qnhnknql}odkv }d bnn} }cnoq dxk knnmv
#Qod mn Elknoqd, Nlq}c V~bbo} Lhnkml 1<,
<??1/
6+ Nfd`dhy " v}~my dj }cn v}q~f}~qn lkm
j~kf}odk dj kl}~qn+ ]cn }d}l`o}y dq wl}}nqkdj qn`l}odkv an}xnnk dqhlkovbv lkm }cnoqnkzoqdkbnk} #xoiownmol/+
Qnjnqnkfnv5
Fq~u, Q+ #1777/+ Wqokfow`nv dj ]d~qovb+ \+F++
MD]+ Wqobnq dk Nfd}d~qovb
Bqv+ Edy A+ NqlJ~`` ‖}obn Jlf~`}y
Vfcdd` dj CQB lkm ]d~qovb
Qnvnlqfc Ok}nqnv}v5
]d~qovb Blklhnbnk}
Fdk}lf} K~banq86:"71"6>: `df+<=<
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@FFB Qnvnlqfc Mohnv} Wlhn >
]cn vn`nf}ozn njjnf}v dj mq~hv lqn ikdxk jdql`` dznq"}cn"fd~k}nq #D]F/ lkm wqnvfqow}odk
bnmofl}odkv+ Okmozom~l` zlqol}odkv ok admyfdbwdvo}odk, lhn, bn}lad`ovb, lkm vyv}nboffdkmo}odkv bly ljjnf} mq~h lf}odkv, lkm }cnvn
njjnf}v lqn kd} l`xlyv ikdxk dq wqnmof}la`n+
L`` mq~hv clzn }cn wd}nk}ol` }d fl~vn lmznqvndq clqbj~` njjnf}v }cl} flk no}cnq an qn`l}nm dq
~kqn`l}nm }d }cn wqokfowl` lf}odk dj }cn mq~h+Clqbj~` njjnf}v }cl} lqn moqnf}`y qn`l}nm }d mq~hlf}odk lqn wqnmof}la`n, lkm dff~q lv l
fdkvn|~nkfn dj }cl} lf}odk+ Jdq nslbw`n, ~vokh
lvwoqok fl~vnv okfqnlvnm a`nnmokh m~n }d o}vlk}ofdlh~`lk} njjnf}+ ]cnvn wqnmof}la`n njjnf}v lqnqnznqvoa`n xcnk }cn mq~h ov movfdk}ok~nm+
Cdxnznq, qnznqvl` flk an mojjof~`} jdq mq~hv
lvvdfol}nm xo}c lmmof}odk, v~fc lv klqfd}ofv lkml`fdcd`, lkm l} }obnv, }cnvn njjnf}v flk an jl}l`,lv xo}c cywdh`yfnbof fdbl okm~fnm ay okv~`ok+
Clqbj~` njjnf}v }cl} lqn ~kqn`l}nm }d }cnwqokfowl` lf}odk dj }cn mq~h lqn qlqn+ ^k~v~l` lkm
~kwqnmof}la`n qnvwdkvnv }d bnmofl}odkv, v~fc lvlklwcy`lsov, lqn qnjnqqnm }d lv omodvykfql}ofqnlf}odkv+ Cdxnznq, }cnqn lqn vo}~l}odkv xcnk}cnvn njjnf}v lqn `oin`y }d dff~q, v~fc lv
nsfnvvozn mdvokh dj l bnmofl}odk+ Jdq nslbw`n,~vokh cohc mdvnv dj lvwoqok flk fl~vn }okko}~v, lk~kxlk}nm njjnf}+ Ok }cov vo}~l}odk, }cn njjnf} ov
wqnmof}la`n, anfl~vn }cn mdvn }link clv
nsfnnmnm }cl} xcofc ov fdkvomnqnm vljn+]nql}dhnkof njjnf}v lqn l`vd nslbw`nv dj }cnvnwqnmof}la`n, ~kxlk}nm njjnf}v+
Df~`lq ]dsofo}y
Fc`dqd|~okn #Lql`nk/, l mq~h ~vnm }d }qnl} vdbnqcn~bl}dom movnlvnv, flk fl~vn qn}okl` mlblhnlkm nznk a`okmknvv
Lvvnvvbnk}
A`~qqokh dj zovodk, fd`dq zovodk fclkhnv,
fdqknl` mlblhn, lkm a`okmknvv bly an davnqznm+
Ok}nqznk}odkv
Bdko}dq }cn wl}onk}(v zovodk flqnj~``y xcnk }cnwl}onk} ov qnfnozokh ikdxk df~`d}dsof mq~hvFdkv~`} xo}c }cn wqnvfqoanq+ Movfdk}ok~n }cn mq~h
lv lwwqdwqol}n+ Wqdzomn v~wwdq}ozn bnlv~qnv
nvwnfol``y oj zovodk `dvv ov kd} qnznqvoa`n+ Bdko}dq`ohc}okh lkm nswdv~qn }d v~k`ohc}
L~mo}dqy Mlblhn
]oky znvvn`v lkm knqznv ok }cn nohc}c fqlkol
knqzn lqn nlvo`y oqqo}l}nm lkm mlblhnm ay fnq}lokmq~hv+ ]cn blfqd`omn lk}oaod}ofv flk fl~vn vnznqnl~mo}dqy knqzn mlblhn+ Lvwoqok, dkn dj }cn bdv}fdbbdk`y ~vnm mq~hv, ov dj}nk `okinm }d l~mo}dqy
qokhokh lkm nohc}c fqlkol` knqzn njjnf}v+
L`` mq~hv clzn }cn wd}nk}ol` }d fl~vn lmznqvn dq clqbj~njjnf}v+
Lmznqvn Mq~h Njjnf}v #Wlq} OO/ Mq+ Ql~` Vl`zlmdq
8/4/2019 LCCM Research Digest (March-April 2007)
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@FFB Qnvnlqfc Mohnv} Wlhn :
Lvvnvvbnk}
Mouuoknvv, qokhokh ok }cn nlqv #}okko}~v/, `dvv
dj al`lkfn, lkm `dvv dj cnlqokh bly an davnqznm+
Ok}nqznk}odkv
Bdko}dq }cn wl}onk}(v wnqfnw}~l` `dvvnv dqfclkhnv+ Wqdzomn wqd}nf}ozn bnlv~qnv }d wqnznk}jl``okh dq oke~qy+ Fdkv~`} xo}c }cn mdf}dq }d
mnfqnlvn mdvn dq movfdk}ok~n }cn mq~h+ Wqdzomnv~wwdq}ozn bnlv~qnv }d fdwn xo}c mq~h njjnf}v
Hnknql` Fnk}ql` Knqzd~v Vyv}nb Njjnf}v
Lvvnvvbnk}
Vybw}dbv bly okf`~mn fdkj~vodk, mn`oqo~b,okvdbkol, mqdxvoknvv, cywnqqnj`nsol dqcywdqnj`nsol, aoulqqn mqnlbv, lkm cl``~fokl}odkv
Ok}nqznk}odkv
Wqdzomn vljn}y bnlv~qnv }d wqnznk} oke~qy+
Fl~}odk }cn wl}onk} }d lzdom mlkhnqd~v vo}~l}odkv
v~fc lv mqozokh l flq dq dwnql}okh mlkhnqd~vblfcoknqy+ Dqonk} }cn wl}onk} lkm wqdzomnv~wwdq}+ Fdkv~`} xo}c }cn wqnvfqoanq }d mnfqnlvn
mq~h mdvn dq movfdk}ok~n }cn mq~h+
L}qdwokn"`oin #Fcd`oknqhof/ Njjnf}v
Vdbn mq~hv bobof }cn njjnf}v dj }cnwlqlvybwl}cn}of knqzd~v vyv}nb ay moqnf}`y dqokmoqnf}`y v}ob~`l}okh fcd`oknqhof qnfnw}dqv+
Mdknwnuo` #Lqofnw}/, l mq~h ~vnm }d }qnl}L`ucnobnq(v movnlvn, fl~vnv blky fcd`oknqhofnjjnf}v+ Blky fd`m qnbnmonv lkm lk}ocov}lboknv
l`vd fl~vn fcd`oknqhof njjnf}v
Lvvnvvbnk}
Mqy bd~}c, l`}nqnm }lv}n wnqfnw}odk,
myvwclhol, cnlq}a~qk, fdkv}owl}odk, a`dl}okh,
wlql`y}of o`n~v, ~qoklqy cnvo}lkfy lkm qn}nk}odk,obwd}nkfn, a`~qqnm zovodk, fyf`dw`nhol,
wcd}dwcdaol, cnlmlfcn, bnk}l` fdkj~vodk, klvl`fdkhnv}odk, wl`wo}l}odkv, mnfqnlvnm vxnl}okh, lkmmqy viok bly an vnnk+
Ok}nqznk}odkv
<+ Wqdzomn v~hlqonvv `dunkhnv lkm bd~}c
flqn }d cn`w bd~}c mqyknvv+
1+ Lqqlkhn jdq adxn` wqdhqlb lv
lwwqdwqol}n+ Clzn }cn wl}onk} zdom anjdqn}liokh }cn mq~h, }d lom zdomokh+
6+ Wqdzomn vljn}y bnlv~qnv oj zovodk fclkhnv
dff~q+
=+ Lqqlkhn jdq bnmofl}odk jdq cnlmlfcn lkm
klvl` fdkhnv}odk lv lwwqdwqol}n+
>+ Lmzovn }cn wl}onk} }d lzdom cd}nkzoqdkbnk}v lkm }d }lin wqd}nf}ozn
bnlv~qnv }d wqnznk} jl``okh lkm }d wqnznk}mncymql}odk, xcofc bly an fl~vnm aynswdv~qn }d cnl} dxokh }d mnfqnlvnm
vxnl}okh+
Wlqiokvdk"`oin Vykmqdbn
Mq~hv }cl} moqnf}`y dq okmoqnf}`y ljjnf}
mdwlbokn `nzn`v ok }cn aqlok flk fl~vn lvykmqdbn }cl} qnvnba`nv Wlqiokvdk(v movnlvnBlky dj }cn lk}owvyfcd}of lkm kn~qd`nw}of mq~hv
flk fl~vn }cov njjnf}+
Lvvnvvbnk}
@lfi dj lf}ozo}y, lioknvol, b~vf~`lq }qnbdqvmqdd`okh, fclkhnv ok hlo}, qohomo}y, ns}qnbnqnv}`nvvknvv dq !eo}}nqv! #lil}covol/, vwlvbv
#myvioknvol/ bly an davnqznm+
Kn~qd`nw}of Bl`ohklk} Vykmqdbn
Hnknql` lknv}cn}ofv lkm d}cnq mq~hv }cl}clzn moqnf} fnk}ql` knqzd~v vyv}nb njjnf}v flkfl~vn kn~qd`nw}of bl`ohklk} vykmqdbn, l
hnknql`ounm vykmqdbn }cl} okf`~mnv cohc jnznq+
8/4/2019 LCCM Research Digest (March-April 2007)
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@FFB Qnvnlqfc Mohnv} Wlhn 8
Lvvnvvbnk}
Ns}ql"wyqlboml` vybw}dbv, cywnq"}cnqbol,l~}dkdbof mov}~qalkfnv, lkm jnznq bly an
davnqznm+
Ok}nqznk}odkv
Movfdk}ok~n }cn mq~h, oj knfnvvlqy+ Ikdx }cl}}qnl}bnk} xo}c lk}ofcd`oknqhofv dq lk}owlqiokvdkmq~hv bly an qn|~oqnm+ Wqdzomn v~wwdq}ozn flqn
}d `dxnq }cn admy }nbwnql}~qn+ Okv}o}~}n vljn}y
wqnfl~}odkv lv knnmnm+
]nql}dhnkn}ofo}y
]cov ov }cn lao`o}y dj l mq~h }d fl~vnlakdqbl`o}onv ok l mnzn`dwokh jn}~v xcnk }link
ay }cn bd}cnq+ ^V Jnmnql` Mq~h Lmbokov}ql}odk
#JML/ Wqnhklkfy Qovi Fl}nhdqonv f`lvvojy mq~hvlv jd``dxv, lffdqmokh }d }cn qovi }cny obwdvn dk}cn mnzn`dwokh jn}~v+ Fl}nhdqy S mq~hv vcd~`m
kd} an hoznk }d wqnhklk} xdbnk dq xdbnk xcd
bly anfdbn wqnhklk}+
FL]NHDQ_ L+ Kd qovi }d jn}~v+ V}~monv clzn kd}
vcdxk nzomnkfn dj jn}l` clqb
FL]NHDQ_ A+ Kd qovi ok lkobl` v}~monv lkm xn``
fdk}qd``nm v}~monv ok wqnhklk} xdbnk lqn kd}lzlo`la`n+ O} ov lvv~bnm }cnqn ov `o}}`n }d kd qovi okwqnhklk} xdbnk+
FL]NHDQ_ F+ Lkobl` v}~monv vcdxnm l qovi }d}cn jn}~v+ Fdk}qd``nm v}~monv dk wqnhklk} xdbnklqn kd} lzlo`la`n+ Qovi znqv~v anknjo} dj }cn mq~h
b~v} an mn}nqboknm+
FL]NHDQ_ M+ L qovi }d }cn c~blk jn}~v clvannk wqdznm+ Qovi znqv~v anknjo} dj }cn mq~h
b~v} an mn}nqboknm+ O} fd~`m an ~vnm ok `ojn
}cqnl}nkokh fdkmo}odkv+
FL]NHDQ_ S+ V}~monv ok lkobl`v lkm c~blkv
vcdxnm jn}l` lakdqbl`o}onv dq lmznqvn qnlf}odk+Qnwdq}v dj nzomnkfn dj jn}l` qoviv+
Mnk}l` cyhonkov}v b~v} ~kmnqv}lkm }cnmojjnqnkfnv an}xnnk mq~h }dsofo}y, mq~h l``nqhonv
lkm mq~h vomn njjnf}v+ Mq~h }dsofo}y ov }dsok"okm~fnm fn``~`lq mlblhn lkm fn`` mnl}c+ ^v~l``y}cn qnlf}ozn bn}lad`o}nv jdqbnm m~qokh bn}lad`of
aqnlimdxk dj }cn mq~h ok no}cnq }cn `oznq dq }cniomkny lqn qnvwdkvoa`n jdq fl~vokh fn`` mlblhn,lv dwwdvnm }d }cn lf}~l` mq~h o}vn`j5 ]cnvnqnlf}ozn bn}lad`o}nv fl~vn wnqblknk} fclkhnv ok
fn`` v}q~f}~qn lkm j~kf}odk, qnv~`}okh ok l`}nqnmfn``~`lq bn}lad`ovb, fn``~`lq b~}l}odk lkm fn`mnl}c+
Mq~h cywnqvnkvo}ozo}y, dq lk l``nqhof qnlf}odk,dff~qv xcnk no}cnq }cn mq~h dq o}v bn}lad`o}nv}qohhnq }cn obb~kn vyv}nb lkm ov kd}
wqnmof}la`n+ Cywnqvnkvo}ozo}y ov wqdm~fnm xo}cqnwnl}nm nswdv~qn }d }cn vlbn mq~h+ Vohkv dj l}q~n l``nqhy okf`~mn viok qlvc, o}fcokh, coznv,
qnvwoql}dqy mov}qnvv lkm qcoko}ov+ D}cnq
cnbl}d`dhof vohkv dj l``nqhy okf`~mn cnbd`y}oflknbol, lhqlk~`dfy}dvov lkm }cqdbadfy}dwnkolLk okmozom~l` bly }lin l mq~h kokn }obnv, lkm
clzn lk l``nqhof qnlf}odk }cn }nk}c }obn+ Vnqod~v,
`ojn"}cqnl}nkokh qnlf}odkv lqn qlqn, lkm okf`~mnlklwcy`lsov, cnbd`yvov, lkm adkn blqqdxv~wwqnvvodk+ ]cn wnkofo``okv lqn }cn bdv} fdbbdk
fl~vn dj mq~h"okm~fnm lklwcy`lsov, ljjnf}okh dknok nznqy >7,777 okmozom~l`v nswdvnm+
L`` mq~hv wqdm~fn vomn njjnf}v, xcofc dff~q jdqdkn dj }xd qnlvdkv5 Joqv}, l mq~h bly wqdm~fn lknslhhnql}nm njjnf} dk o}v }lqhn} }ovv~n xcnkhoznk l} o}v fdqqnf} mdvn+ Ok }cov vo}~l}odk, }cn
vomn njjnf} ov lk ns}nkvodk dj }cn }cnqlwn~}ofnjjnf} dj }cn mq~h+ Jdq nslbw`n, mlkhnqd~v`y `dxa`ddm v~hlq bly qnv~`} jqdb }liokh lk dql
cywdh`yfnbof lhnk}+ Vnfdkm, l mq~h bly
wqdm~fn lk njjnf} dk kdk"}lqhn} }ovv~nv, vd }cl}}cn njjnf}v wqdm~fnm mojjnq jqdb }cdvn }cl} lqnmnvoqnm+ Jdq nslbw`n, }liokh KVLOMV jdq wlok
fdk}qd` bly qnv~`} ok H` ~`fnql}odk lkm a`nnmokh
]cn Jddm lkm Mq~h L~}cdqo}y qn|~oqnv qnwdq}okh
dj l`` ikdxk vomn njjnf}v, xcofc flk an jd~km okwclqblfd`dhy qnjnqnkfn }ns}v+
Lmznqvn mq~h njjnf}v flk l`vd an fl~vnm aymq~h ok}nqlf}odkv+ Mq~h ok}nqlf}odkv flk an
lzdomnm ay ikdxokh
8/4/2019 LCCM Research Digest (March-April 2007)
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@FFB Qnvnlqfc Mohnv} Wlhn 3
]cn Qnvnlqfc Mohnv} ov kdxlffnw}okh fdk}qoa~}odkv jdq }cnBly"E~kn 1778 Ovv~n+ Jnn` jqnn}d zovo} ~v jdq ok|~oqonv+
wqdwnq mq~h qn`l}odkvcowv+ ]cnvn lmznqvn njjnf}v
qlkhn ok vnznqo}y jqdb bokdq l`}nql}odkv ok mq~hlf}odk }d vnznqn, `ojn"}cqnl}nkokh vo}~l}odkv+ ]cnmnk}l` cyhonkov} b~v} an la`n }d qnfdhkoun }cn
nlq`y xlqkokh vohkv dj mq~h ok}nqlf}odkv }dblok}lok }cn cnl`}c lkm vljn}y dj }cn f`onk}+ Lvxo}c vomn njjnf}v, }cn AJLM qn|~oqnv }cn qnwdq}okh
dj l`` ikdxk mq~h ok}nqlf}odkv, xcofc lqn ~wml}nmjqn|~nk}`y lkm qd~}okn`y w~a`ovcnm ok l zlqon}y dj wqdjnvvodkl` vd~qfnv+
Vomn njjnf}v flk l`vd dff~q oj }cn f`onk} ov kd}blklhokh bnmofl}odkv fdqqnf}`y+ Blklhokhbnmofl}odkv ov mojjof~`} jdq ad}c wqlf}o}odknqv lkm
f`onk}v, lv f`onk}v lqn }qnl}nm ay b~`}ow`n
wqdzomnqv ok b~`}ow`n flqn vn}}okhv, l`` dj xcdbbly an wqnvfqoaokh jdq vwnfojof f`onk} knnmv+J~q}cnq, f`onk}v bly an vn`j"bnmofl}okh,
~kmnq$dznq"bnmofl}okh, dq bly jlo` }d fdbw`yanfl~vn }cny bov~kmnqv}ddm okv}q~f}odkv, lqn~kla`n }d qnlm `lan`v, dq fcddvn }d v}dw }liokh
}cnoq bnmofl}odkv m~n }d adqnmdb dq ok}d`nqlkfn
dj vomn njjnf}v+ Cn`wokh f`onk}v blklhn }cnoqbnmofl}odkv ov lk obwdq}lk} qd`n jdq }cn mnk}l`cyhonkov}+
Blklhnbnk} dj }cn dql` vomn njjnf}v fl~vnmay bnmofl}odk ~vn ov lk dkhdokh fcl``nkhn jdqmnk}l` cyhonkov}v+ Dql` vomn njjnf}v fl~vn f`onk}
movfdbjdq}, lkm bly ok}nqjnqn xo}c }cn f`onk}(vlao`o}y }d lmn|~l}n`y fcnx, vxl``dx lkm mohnv}jddm+ Vdbn dql` vomn njjnf}v w`lfn }cn f`onk} l}
qovi jdq dql` }ql~bl, xco`n d}cnqv fdk}qoa~}n }dokjnf}odk, wlok lkm wdvvoa`n }dd}c `dvv+ Mnk}l`cyhonkov}v knnm }d lff~ql}n`y molhkdvn }cnvn dql`fdkmo}odkv ok dqmnq }d qnfdbbnkm lwwqdwqol}n
}qnl}bnk} ok}nqznk}odkv+ ]obn`y qnfdhko}odk lkmwqdjnvvodkl` ok}nqznk}odkv lqn knfnvvlqy }dobwqdzn f`onk} fdbjdq} lkm j~kf}odk+
Fdkf`~vodk
Ok wqokfow`n, bnmofl` wqdjnvvodkl`v lqnqn|~oqnm }d qnwdq} l`` lmznqvn njjnf}v qn`l}nm }d l
vwnfojof jdqb dj }cnqlwy+ Ok wqlf}ofn, o} ov l} }cnmovfqn}odk dj }cn wqdjnvvodkl` }d mn}nqboknxcn}cnq l bnmofl` nznk} ov l} l`` qn`l}nm }d }cn
}cnqlwy+
Qnjnqnkfnv
Ilqfc, B+ #1776/+ Jdf~v dk K~qvokhWclqblfd`dhy+ @owwokfd}}, Xo``olbv * Xo`iokv+
Xykk Q+@, Bno``nq ]+J lkm Fqdvv`ny C@+ #<??3"??/+ Mq~h Okjdqbl}odk Clkmaddi ok
Mnk}ov}qy+ =}c nm+ C~mvdk5 @nso"Fdbw, Okf+
@FFB Qnvnlqfc Mohnv} ov w~a`ovcnm ay }cnQnvnlqfc lkm W~a`ofl}odk Fnk}nq }d vnqzn lvl vd~kmokh adlqm dj ~w }d ml}n omnlv lkm
lf}odkv qn`l}nm }d qnvnlqfc, f`lvvqddbblklhnbnk} lkm bl}nqol` mn`oznqy dj }cnjlf~`}y ok }cn mojjnqnk} vfcdd`v dj }cnFd``nhn+ O} nkfd~qlhnv lkm xn`fdbnvfdkmnkvnm znqvodkv dq l vcdq} v~bblqy dj qnvnlqfc dq qnzonx nvvlyv, fdkjnqnkfnwlwnqv, `nf}~qn kd}nv, }nlfcokh h~omnv lkmd}cnq f`lvvqddb bl}nqol`v jdq o}v aobdk}c`yw~a`ofl}odk+
Nmo}dqol` Adlqm 5 Vq+ Obn`ml L+ Bdql, DVL ,@FFB Wqnvomnk} , Bq+ Hnqdkobd F+ V~`oh~ok Eq+Moqnf}dq, Qnvnlqfc lkm W~a`ofl}odkv Fnk}nq , Mq+Mozokl Nmql`ok , Fdkv~`}lk} +
Blklhokh Nmo}dq 5 Flqbn`l Q+ F`l~m+
Jdq fdbbnk}v, v~hhnv}odkv lkm fdk}qoa~}odkv,fl`` #:61/ 86:"71"6> `df+ <86 dq 6<6"7>"7? dqn"blo` ~v l} qnvG`ffb+nm~+wc+
L`vd zovo} c}}w5$$qnvnlqfcmohnv}+a`dhvwd}+fdb+
Mq+ Ql~` V+ Vl`zlmdq
J~`` ‖}obn Jlf~`}y
Vfcdd` dj K~qvokh
Qnvnlqfc Ok}nqnv}v5
Wclqblfd`dhy, Wvyfcol}qof
K~qvokh, Bnk}l` Cnl`}c
Fdk}lf} K~banq
86:"71"6>: `df+ 81