Investigating the Presence of Regional Economic Growth Convergence in the Philippines using Kalman Filter

This paper investigates the presence of stochastic and dynamic convergence of the 14 regional economies in the Philippines in terms of per capita Gross Regional Domestic Product (GRDP) using regional panel data from 1988 to 2007. Stochastic convergence, which indicates convergence of regions in the long-run, is tested using Levin, Lin & Chu (LLC) and Im, Pesaran & Shin (IPS) panel unit root tests. The presence of convergence, on one hand, indicates that the economically laggard regions are gaining on the economically better-performing regions with respect to per capita GRDP. On the other hand, the lack of convergence indicates a need to reevaluate existing regional and national economic policies on development. Dynamic convergence reveals several convergence characteristics of individual regions over time. Dynamic convergence is determined by the time-varying parameter (TVP) model derived using the Kalman Filter. The paper proceeds to examine the individual convergence behavior of each region based on the value of the estimate of the parameter of the TVP. The results show that out of the 14 regions studied, seven regions are found to converge towards the average of the national per capita GDP growth rate over 1988 to 2007 while six regions lag behind the average of the national per capita GDP growth rate over the same period. No region converges towards the economic growth rate of National Capital Region, the lead region used in the study.Panel Unit Root Test, Time-varying Parameter (TVP) Model, Kalman Filter, Stochastic Convergence, Dynamic Convergence

A Study of the Export Financing System in the Philippines

How much support is the Philippine government giving to its export sector by means of its financing schemes? Are the small and indirect exporters given preference or assistance? How supportive is the entire export financing system in the country to the attainment of an export-driven development strategy? These questions are the primary concern of this paper. Based on a survey sample of seven commercial banks, it examines the various components of the Philippine export financing system. A review of the Philippine trade policies and its export profiles is provided.financial market, financial economy, financial sector, export commodities, financial services

Lateral dimerization is required for the homophilic binding activity of C-cadherin

Regulation of cadherin-mediated adhesion can occur rapidly at the cell surface. To understand the mechanism underlying cadherin regulation, it is essential to elucidate the hemophilic binding mechanism that underlies all cadherin-mediated functions. Therefore, we have investigated the structural and functional properties of the extracellular segment of Xenopus C-cadherin using a purified, recombinant protein (CEC 1-5). CEC 1-5 supported adhesion of CHO cells expressing C-cadherin. The extracellular segment was also capable of mediating aggregation of microspheres. Chemical cross-linking and gel filtration revealed that CEC 1-5 formed dimers in the presence as well as absence of calcium. Analysis of the functional activity of purified dimers and monomers demonstrated that dimers retained substantially greater homophilic binding activity than monomers. These results demonstrate that lateral dimerization is necessary for hemophilic binding between cadherin extracellular segments and suggest multiple potential mechanisms for the regulation of cadherin activity

Assessing the marginal dollar value losses to an estuarine ecosystem from an aggressive alien invasive crab

This paper reports on a case study to establish dollar values for loss of biodiversity in the New Zealand coastal marine environment. The study uses the European Shore Crab (Carcinas maenas) as the example alien invasive species and the Pauatahanui Inlet, Wellington, New Zealand, as the ecosystem representative of the coastal marine environment. Choice modelling is the stated preference tool used to elicit marginal dollar values for these various attributes of the inlet. Reallocation of existing government expenditure is used as the payment mechanism. Results indicate a wide range of dollar values for the marginal losses to the environment, with no clear trend on a distance-decay relationship. The probability distributions of the dollar values of the environmental attributes tended to have a concentration around the median with very wide tails, especially on the high side. This indicates that most people generally agreed on a dollar value, but a very few individuals expressed extremely high values. The study concludes that the dollar values for loss of biodiversity and other environmental attributes do provide useful information to decision makers, but considerable caution needs to be exercised when applying these values in benefit cost studies. Marginal rate of substitution estimates between environmental attributes will be useful for estimating money values for attributes identified given future work estimates a statistically significant money value for one

Mapping of serotype-specific, immunodominant epitopes in the NS-4 region of hepatitis C virus (HCV):use of type-specific peptides to serologically differentiate infections with HCV types 1, 2, and 3

The effect of sequence variability between different types of hepatitis C virus (HCV) on the antigenicity of the NS-4 protein was investigated by epitope mapping and by enzyme-linked immunosorbent assay with branched oligopeptides. Epitope mapping of the region between amino acid residues 1679 and 1768 in the HCV polyprotein revealed two major antigenic regions (1961 to 1708 and 1710 to 1728) that were recognized by antibody elicited upon natural infection of HCV. The antigenic regions were highly variable between variants of HCV, with only 50 to 60% amino acid sequence similarity between types 1, 2, and 3. Although limited serological cross-reactivity between HCV types was detected between peptides, particularly in the first antigenic region of NS-4, type-specific reactivity formed the principal component of the natural humoral immune response to NS-4. Type-specific antibody to particular HCV types was detected in 89% of the samples from anti-HCV-positive blood donors and correlated almost exactly with genotypic analysis of HCV sequences amplified from the samples by polymerase chain reaction. Whereas almost all blood donors appeared to be infected with a single virus type (97%), a higher proportion of samples (40%) from hemophiliacs infected from transfusion of non-heat-inactivated clotting factor contained antibody to two or even all three HCV types, providing evidence that long-term exposure may lead to multiple infection with different variants of HCV

The efficacy of dexamethasone implants following anti-VEGF failure for macular oedema in retinal vein occlusion

PURPOSE: To investigate the efficacy of intravitreal dexamethasone implants (DEX) after anti-VEGF failure in retinal vein occlusion macular oedema. METHODS: Retrospective cohort study of DEX implant (0.7 mg) given after anti-VEGF 'failure'. Switch to DEX occurred if a ⩽ +5 ETDRS letter gain and ⩽20% reduction in central subfield thickness was present following ⩾6 consecutive anti-VEGF injections. The primary endpoint was VA change 30 days after DEX. Secondary outcomes were peak VA change, VA change at monthly timepoints, percentage achieving 15-letter gain, central subfield thickness (CST) and intraocular pressure (IOP). RESULTS: Sixty-two injections in 62 patients associated with 26% central retinal vein occlusion (CRVO) and 74% branch retinal vein occlusion (BRVO) were eligible. There was a modest, significant improvement in mean VA change at 30 days compared to baseline (+6 letters, 95% CI +2.2 to +9.1 letters, p < 0.01). DEX implant significantly improved mean peak VA change compared to preceding anti-VEGF by +18.1 letters in CRVO (p = 0.002) and +13.2 letters in BRVO (p < 0.0001). IOP peaked between 30 and 60 days following injection, with 31% of CRVO and 11% of BRVO patients experiencing an IOP ⩾ 25 mmHg. CONCLUSION: DEX implant provides useful rescue therapy in cases of anti-VEGF 'failure' for macular oedema following retinal vein occlusion, resulting in improved functional outcomes at 30 days

Determination of Trace Elements in Sediments Samples by Using Neutron Activation Analysis

The Juru River is a highly industrialized, urbanized, and agricultural catchment. This study aimed to investigate trace elements in Juru mangrove sediments, including geochemical baselines and enrichment. Sediment was collected from the mangrove in Juru, Penang, Malaysia. A total of eight target elements was examined. &nbsp;Instrumentation activation analysis (INAA) was used to determine the concentration of Fe, V, Cr, Zn and Co. Atomic absorption spectrometry (AAS) was used to determine the concentration of elements that not detectable by INAA (Cd, Pb, and As). In both methods, validated reference material studies were used for validation of the methodology. Metal pollution was estimated using the Enrichment Factor (EF), Geoaccumulation Index (Igeo), Contamination Factor (CF), and Pollutant Load Index (PLI). The EF, Igeo, and CF ranges from 0.45–7.96, -2.18 – 1.95, and 0.33–5.83 respectively. The order of accumulation of the elemental concentration found was Fe &gt; Zn&gt; Cr &gt; V &gt; Pb &gt; As &gt; Co &gt;Cd. The computed mean value of PLI exceeds the unit (PLI &gt; 1)

Central Bank policies and the behavior of the money market : the case of the Philippines

This study attempts to relate policies of the Central Bank with the behavior of the money market. The money market is defined as the short-term financial market covering instruments that are close substitutes for money. By convention, only instruments with a maturity of less than sixty days are analyzed although data for instruments with longer maturities are presented. Based on the observation of the abovementioned performance measures, it can be generally concluded that regulations prior to 1981 produced a less efficient but more stable market. During the liberalization period, the behavior of the money markets was significantly affected by the Dewey Dee crisis in 1981 and the balance-of-payments (BOP) crisis in 1983 which led to the 1984-1985 recession. Since data on the money market for 1981 were not provided by the Central Bank, the assessment of key events focuses only on the effect of the BOP crisis. The Central Bank's main policy instruments during the crisis were the controversial "Jobo" bills which carried artificially high interest rates to arrest capital outflows. Stability in the monetary system was achieved but at the expense of operating efficiency. Transactions in the money market instruments, excluding Treasury bills and interbank call loans, declined rapidly during the period 1983-'85 and have since not recovered. 'Hiis paper, thus, clearly points out the trade-off between operating efficiency, on one hand, and stability, on the other

In Vitro Hydrodynamic Assessment of a New Transcatheter Heart Valve Concept (the TRISKELE)

This study presents the in vitro hydrodynamic assessment of the TRISKELE, a new system suitable for transcatheter aortic valve implantation (TAVI), aiming to mitigate the procedural challenges experienced with current technologies. The TRISKELE valve comprises three polymeric leaflet and an adaptive sealing cuff, supported by a novel fully retrievable self-expanding nitinol wire frame. Valve prototypes were manufactured in three sizes of 23, 26, and 29 mm by automated dip-coating of a biostable polymer, and tested in a hydrodynamic bench setup in mock aortic roots of 21, 23, 25, and 27 mm annulus, and compared to two reference valves suitable for equivalent implantation ranges: Edwards SAPIEN XT and Medtronic CoreValve. The TRISKELE valves demonstrated a global hydrodynamic performance comparable or superior to the controls with significant reduction in paravalvular leakage. The TRISKELE valve exhibits enhanced anchoring and improved sealing. The valve is currently under preclinical investigation