45 research outputs found
Chemoenzymatic synthesis of 5-thio-D-xylopyranose.
No full text5-thio-D-xylopyranose, a synthon used for the preparation of drugs with antithrombotic activity, was synthesised by an enzymatic isomerisation from the corresponding ketose, 5-thio-D-xylulofuranose, with glucose isomerase. This compound was obtained by two different chemoenzymatic routes, the key step being the stereospecific formation of a C-C bond, catalysed by transketolase or fructose-1,6-bisphosphate aldolas
Assessing Sustainable Development by Genuine Saving Indicator from Multidimensional Perspectives
Get PDFThis paper investigates the path of genuine saving (GS) based on the perspectives of average, trend and stability. The theoretical basis of GS can be seen in several studies, such as Arrow et al. (2003) and Dasgupta (2004); its database has been developed by the World Bank. With these contributions, GS is now considered as one of the most important indicators for evaluating the sustainable development. However, among previous studies on GS, only few studies focused on dynamic perspective. This paper points out this shortage in the literature, and then re-examines the sustainability performance in various countries based not only on the average, but also on the trend and stability of GS path. The results of evaluating GS based on these multidimensional perspectives are different from those of unidimensional perspective. These results provide us richer information on the sustainability of each country.Sustainable Development; Genuine Saving; Average; Trend; Stability
A Note on Short-Run and Long-Run Relationships between Parallel and Official Exchange Rates: The Case of Cambodia
Get PDFBy employing an Autoregressive Distributed Lag (ARDL) approach to cointegration, this paper presents the results of a new empirical study on short-run and long-run relationships between the Cambodian parallel and the official exchange rates. Tests to confirm the stability of the estimated model are conducted. The causality relationships between the parallel and official exchange rates are also examined, by applying the Toda and Yamamoto (1995) approach. From the empirical results, we find that there exists a stable long-run relationship between the two exchange rates in Cambodia. Moreover, the causality tests provide the evidence of the mutual directions between them.Parallel Exchange Rate; Official Exchange Rate; Cambodia; ARDL
International aid corruption and fiscal behavior policy
Get PDFThe Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) debate on ‘the effect of foreign aid on corruption’ has had an important influence in policy and academic circles. This paper provides a unifying framework by using investment and fiscal behavior transmission channels in 53 African countries for the period 1996-2010. The richness of the dataset enables us to disaggregate countries into 16 panels depicting fundamental characteristics of corruption based on wealth-effects, legal origins, openness to sea, petroleum-exporting, regional proximity and religious domination. Findings unite the two streams of the debate and broadly suggest that while the ‘government’s final consumption expenditure’ channel is consistent with the latter author, the investment and tax effort channels are in line with the former authors. Justifications for the nexuses are provided. Policy implications on how to use foreign aid constraints in managing fiscal behavior as means of reducing (increasing) corruption (corruption-control) are discussed
International aid, corruption and fiscal policy behavior
Get PDFThe Okada & Samreth (2012, EL) and Asongu (2012, EB; 2013, EEL) debate on 'the effect of foreign aid on corruption' has had an important influence in policy and academic circles. This paper provides a unifying framework by using investment and fiscal behavior transmission channels in 53 African countries for the period 1996-2010. Findings unite the two streams of the debate and broadly suggest that while the 'government's final consumption expenditure' channel is consistent with the latter author, the investment and tax effort channels are in line with the former authors. Justifications for the nexuses are provided. Policy implications on how to use foreign aid constraints in managing fiscal behavior as means of reducing (increasing) corruption (corruption-control) are discussed
The Monetary Model of Exchange Rate: Evidence from the Philippines Using ARDL Approach
Get PDFIn this paper, we re-examine the validity of both short and long run monetary models of exchange rate for the case of the Philippines by using new approach called Autoregressive Distributed Lag (ARDL) to cointegration. From our analysis, some findings are obtained. First, there are robust short and long run relationships between variables in the monetary exchange rate model. Second, the stability of the estimated parameters is confirmed by CUSUM and CUMSUQ stability tests. Third, the Purchasing Power Parity (PPP) condition is not hold for the Philippines. Last, all the monetary restrictions are rejected. Therefore, this result seems to suggest that the estimation result of the monetary model of exchange rate, in which monetary restrictions are assumed to be satisfied beforehand, might suffer from a number of deficiency it is not appropriate to estimate the exchange rate model before the monetary restrictions are confirmed as also mentioned in Haynes and Stone (1981).
The effect of foreign aid on corruption: A quantile regression approach
Get PDFThis paper investigates the effect of foreign aid on corruption using a quantile regression method. Our estimation results illustrate that foreign aid generally lessens corruption and, in particular, its reduction effect is larger in countries with low levels of corruption. In addition, considering foreign aid by donors, our analysis indicates that while multilateral aid has a larger reduction impact on corruption, bilateral aid from the world’s leading donors, such as France, the United Kingdom, and the United States, has no significant effect on corruption. However, bilateral aid from Japan is shown to be statistically significant in lessening corruption.Foreign Aid; Corruption; Quantile Regression
The Monetary Model of Exchange Rate: Evidence from the Philippines Using ARDL Approach
Get PDFIn this paper, we re-examine the validity of both short and long run monetary models of exchange rate for the case of the Philippines by using new approach called Autoregressive Distributed Lag (ARDL) to cointegration. From our analysis, some findings are obtained. First, there are robust short and long run relationships between variables in the monetary exchange rate model. Second, the stability of the estimated parameters is confirmed by CUSUM and CUMSUQ stability tests. Third, the Purchasing Power Parity (PPP) condition is not hold for the Philippines. Last, all the monetary restrictions are rejected. Therefore, this result seems to suggest that the estimation result of the monetary model of exchange rate, in which monetary restrictions are assumed to be satisfied beforehand, might suffer from a number of deficiency; it is not appropriate to estimate the exchange rate model before the monetary restrictions are confirmed as also mentioned in Haynes and Stone (1981).Exchange rate model, ARDL approach to cointegration
