130 research outputs found

    The financial stress spillover: Evidence from selected Asian countries

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    The objective of the study is to analyze financial stress spillover among selected Asian countries, namely, China, Pakistan, Sri Lanka, Malaysia and India for the period from Jan 2001 to Dec 2009. The financial stress is measured by Financial Stress Index (FSI), a specially designed comprehensive measure of financial stress. The methodology of Yimlam 2012 is adopted for analyzing dynamics of variance decomposition among countries using FSI for the selected countries. The results of the study confirm that China and Pakistan are the largest transmitters of spillover towards other selected countries. Also the net spillover of China and Pakistan indicated to be positive whereas all other countries show up negative net spillovers. The economic and geographic linkages are suggested to be responsible for influencing magnitude of spillover among selected countries. Finally, the response of each country to shocks in other countries is found to be positive

    An empirical assessment of the value of irrigation water: the case study of Murrumbidgee catchment *

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    Evaluation of value of irrigation water is essential for supporting policy decision making relating to investments in the irrigation sector, efficient allocation of irrigation water and water pricing and for crafting policies to compare the variable impacts of water reform within and across sectors of the economy. This paper asks the question of how much an established irrigator would pay for water and at what price farmers planning to expand the area they have under irrigation would consider paying for the right to access water. An analytical framework is developed to estimate the net present value of both annual and perennial agricultural activities in the Murrumbidgee catchment. Using these estimates the total value of water used in Murrumbidgee catchment is estimated. An aggregate water supply curve is derived for the catchment from where water may be acquired from irrigators for environmental flows. Copyright 2010 The Author. Journal compilation 2010 Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Asia Pty Ltd.

    Uncertainty and Reliability Analysis of CMIP5 Climate Projections in South Korea Using REA Method

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    AbstractWeighting criteria methods achieved popularity in the quantification of uncertainty in the first decade of 21st century. In this study, Reliability Ensemble Averaging (REA) method is used to provide a quantitative estimate of uncertainty range and reliability of future climate projections over Han river basin in Korea simulated by 18 GCMs under CMIP5 Project. The root mean square error (RMSE) was used to measure uncertainty range. The result indicates that historical simulations project 43% decrease in precipitation while future scenarios simulations of GCMs projects a moderate increase in mean annual temperature and precipitation. The future projections showed a reduction in uncertainty range of about 150% as compared to simple ensemble average approach. The results suggest the viability of REA method by incorporating the model performance and model convergence criteria

    Foreign direct investment and liberalization policies in Pakistan: An empirical analysis ABOUT THE AUTHOR

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    Abstract: To enhance the inflow of foreign direct investment (FDI) and ultimately to increase the economic growth, the countries have implemented a variety of financial and trade liberalization policies in the last three decades. Pakistan also initiated such type of policies. This study makes an analysis of the impact of liberalization (financial and trade) in Pakistan, on the inflow of FDI using the time series data of 1971-2009. The DF-GLS test is used to determine the level of integration, and autoregressive distributed lag model to examine the long-run relationship. The results indicate that liberalization indicators, like financial liberalization index and trade openness along with real interest rate, negatively affect the inflow of FDI in Pakistan. Tax revenue of product also negatively affects the FDI. On the other hand, the gross fixed capital formation, infrastructure, and inflation positively influence the FDI in Pakistan. The market size (proxied by real gross domestic product) has shown insignificant effect on FDI. Keywords: F21-international investment; long-term capital movements, O16-financial markets; saving and capital investment JEL classifications: F21, O16, C33, P2

    Invasive Mucormycosis Induced Pneumopericardium: A Rare Cause of Pneumopericardium in an Immunocompromised Patient

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    Mucor and Rhizopus cause life-threatening infections primarily involving the lungs and sinuses, which disseminate very rapidly by necrosis and infarction of the contiguous tissues. We present a case of a 64-year-old African American posttransplant patient who presented with a productive cough and weight loss. He had a past surgical history of renal transplant for renal cell carcinoma and was on dual immunosuppressive therapy, that is, mycophenolate and tacrolimus. During his hospital stay, he developed a pneumopericardium due to the direct extension of a lung lesion. The diagnosis was made by radiological imaging and PCR result which was consistent with Mucor species. He was treated with antifungal therapy. The purpose of this report is to highlight the unusual association of mucormycosis with pneumopericardium
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