Does Inflation Contribute to Economic Growth: The Case of CEMAC (Central African Economic and Monetary Community)

This paper focuses on the influence of inflation on economic growth to determine the extent to which the fight against inflation can contribute to the economic growth of a country or a regional zone such as CEMAC. We identify the effects of inflation on the CEMAC zone and use a multiple linear regression model to test the relationship between the two economic quantities: inflation and economic growth. We mainly used Stata 13 software to obtain the results and a sample of panel data, including six CEMAC member states, namely Congo, Cameroon, Gabon, Equatorial Guinea, Central African Republic, and Chad, from 2000 to 2018. The results were found to show a positive relationship between inflation and economic growth. These results indicate that the coefficients of the explanatory variables have the expected signs. However, other coefficients, up to 10%, are insignificant, notably GDP growth and consumer price inflation. The estimated values of all variables are in %, so we can say that if consumer price inflation increases by 10%, GDP growth will decrease by 10%. Then the value of GDP deflator inflation is positive, so if GDP deflator inflation increases by 1%, GDP will decrease by 0.11%. Its probability value is insignificant, and the money supply has a statistically insignificant effect on GDP growth. Finally, the results of the descriptive analysis show that GDP, consumer price inflation, the inflation deflator, the money supply, and foreign direct investment move in the same direction and the regression shows that there is a positive and significant link between the degree of openness to inflation and economic growth in the CEMAC zone. The econometric analysis allowed us to show that price increases (inflation) have a significant influence on growth

Regulation of the Financial System in the Republic of Congo

After the 2008 subprime crisis, financial institutions in the Congo (Brazzaville) underwent a series of significant adjustments and reforms in line with their regulatory traditions of systemically important financial institutions, the evolution of the regulatory system, and the country’s financial development needs. This paper needs to analyze and study financial regulation in the Republic of Congo. This paper mainly analyzes the current situation of the financial regulatory system of the Republic of the Congo (Brazzaville), finds the problems in the financial regulatory system, collects accessible financial data and financial indicators, and constructs the financial regulatory system of the Republic of the Congo (Brazzaville) with principal component analysis. This paper uses the GARCH-CoVaR model to assess the contribution of banks’ systemic risk in Congo Brazzaville. Then, it constructs a risk assessment system for Congo based on the indicator method. The results show that banks’ systemic risk is not limited to the systemic risk of individual banks. The systemic risk of banks in the Republic of Congo mainly originates from six major banks: the Central Bank of the State of Congo, the Bank of Congo, the Bank of Commerce and Credit of Congo, the Savings Bank of Congo, the Central Bank for the Development of Central African States, the Central Bank of Africa, and the Central Bank of Africa

Positional cloning of a candidate gene for resistance to the sunflower downy mildew, Plasmopara halstedii race 300.

International audienceThe resistance of sunflower to Plasmopara halstedii is conferred by major resistance genes denoted Pl. Previous genetic studies indicated that the majority of these genes are clustered on linkage groups 8 and 13. The Pl6 locus is one of the main clusters to have been identified, and confers resistance to several P. halstedii races. In this study, a map-based cloning strategy was implemented using a large segregating F2 population to establish a fine physical map of this cluster. A marker derived from a bacterial artificial chromosome (BAC) clone was found to be very tightly linked to the gene conferring resistance to race 300, and the corresponding BAC clone was sequenced and annotated. It contains several putative genes including three toll-interleukin receptor-nucleotide binding site-leucine rich repeats (TIR-NBS-LRR) genes. However, only one TIR-NBS-LRR appeared to be expressed, and thus constitutes a candidate gene for resistance to P. halstedii race 300

Could thioredoxin h be involved in early response to gravitropic stimulation of poplar stems?

The perception of gravity is essential for plant development. Trees constantly develop specialized woody tissues, termed « reaction wood » to correct inclined branch and stem growth in order to adopt an optimal position. Despite the economical impact of reaction wood occurrence and itsimportance from a developmental point of view, the perception and response to the gravitational stimulus have not been extensively studied in woody species in which primary and secondary growth occur. Using complementary approaches (proteomics, qRT-PCR, immunolocalization), we have compared straight polar stems to stems that were inclined at 35° from the vertical axis for periods of time varying from 10 min to 6 hours depending on the experiments. The proteomics approach revealed that thirty six percent of the identified proteins that were differentially expressed after gravistimulation were established as potential Thioredoxin targets. qRT-PCR indicated an early induction of Thioredoxin h expression following gravistimulation. In situ immunolocalization indicated that Thioredoxin h protein co-localized with the amyloplasts located in the endodermalcells which may be specialized in gravity perception. These investigations suggest the involvement of Thioredoxin h in the first events of signal transduction in inclined poplar stems, leading to reaction wood formation

Spectre ordonné et branches analytiques d'une surface qui dégénère sur un graphe

In this work, we give a general framework of Riemannian surfaces that can degenerate on metric graphs and that we call surfaces made from cylinders and connecting pieces. The latter depend on a parameter t that describes the degeneration. When t goes to 0, the waists of the cylinders go to 0 but their lengths stay fixed. We thus obtain the edges of the limiting graph. The connecting pieces are squeezed in all directions and degenerate on the vertices of the limiting graph. We then study the asymptotic behaviour of the spectrum of these surfaces when t varies from two different points of view, considering the spectrum either as a sequence of ordered eigenvalues or as a collection of analytic eigenbranches. In the case of ordered eigenvalues, we recover a rather classical statement, and prove that the spectrum converges to the spectrum of the limiting object. The study of the analytic eigenbranches is more original. We prove that any such eigenbranch converges and we give a characterisation of the possible limits. These results apply to translation surfaces on which there is a completely periodic direction.Dans ce travail, nous donnons un cadre général de surfaces riemanniennes qui dégénèrent sur des graphes métriques que nous appelons surfaces décomposables en cylindres et en jonctions. Les surfaces décomposables en cylindres et en jonctions dépendent d’un paramètre t qui traduit le mécanisme d’écrasement sur le graphe. Quand le paramètre t tend vers 0, les circonférences des cylindres tendent vers 0 et leurs longueurs restent fixes. On obtient ainsi les arêtes du graphe limite. Les jonctions, elles, sont écrasées dans toutes les directions et donc dégénèrent sur les sommets du graphe limite. Nous étudions alors le comportement asymptotique du spectre de ces variétés lors de cette déformation. Nous adoptons les points de vue de la convergence des valeurs propres ordonnées et de celle des branches analytiques. Ces deux approches sont fondamentalement différentes. Le cas des valeurs propres ordonnées est assez classique et nous retrouvons la convergence vers le spectre du graphe limite. L’étude des branches analytiques est plus original. Nous montrons la convergence et donnons une caractérisation des limites possibles. Ces résultats s’appliquent dans le cas des surfaces de translations qui possèdent une direction complètement périodique

Spectre ordonné et branches analytiques d'une surface qui dégénère sur un graphe

In this work, we give a general framework of Riemannian surfaces that can degenerate on metric graphs and that we call surfaces made from cylinders and connecting pieces. The latter depend on a parameter t that describes the degeneration. When t goes to 0, the waists of the cylinders go to 0 but their lengths stay fixed. We thus obtain the edges of the limiting graph. The connecting pieces are squeezed in all directions and degenerate on the vertices of the limiting graph. We then study the asymptotic behaviour of the spectrum of these surfaces when t varies from two different points of view, considering the spectrum either as a sequence of ordered eigenvalues or as a collection of analytic eigenbranches. In the case of ordered eigenvalues, we recover a rather classical statement, and prove that the spectrum converges to the spectrum of the limiting object. The study of the analytic eigenbranches is more original. We prove that any such eigenbranch converges and we give a characterisation of the possible limits. These results apply to translation surfaces on which there is a completely periodic direction.Dans ce travail, nous donnons un cadre général de surfaces riemanniennes qui dégénèrent sur des graphes métriques que nous appelons surfaces décomposables en cylindres et en jonctions. Les surfaces décomposables en cylindres et en jonctions dépendent d’un paramètre t qui traduit le mécanisme d’écrasement sur le graphe. Quand le paramètre t tend vers 0, les circonférences des cylindres tendent vers 0 et leurs longueurs restent fixes. On obtient ainsi les arêtes du graphe limite. Les jonctions, elles, sont écrasées dans toutes les directions et donc dégénèrent sur les sommets du graphe limite. Nous étudions alors le comportement asymptotique du spectre de ces variétés lors de cette déformation. Nous adoptons les points de vue de la convergence des valeurs propres ordonnées et de celle des branches analytiques. Ces deux approches sont fondamentalement différentes. Le cas des valeurs propres ordonnées est assez classique et nous retrouvons la convergence vers le spectre du graphe limite. L’étude des branches analytiques est plus original. Nous montrons la convergence et donnons une caractérisation des limites possibles. Ces résultats s’appliquent dans le cas des surfaces de translations qui possèdent une direction complètement périodique

Ordered spectrum and analytical branches of a surface degenerates on a metric graph

Dans ce travail, nous donnons un cadre général de surfaces riemanniennes qui dégénèrent sur des graphes métriques que nous appelons surfaces décomposables en cylindres et en jonctions. Les surfaces décomposables en cylindres et en jonctions dépendent d’un paramètre t qui traduit le mécanisme d’écrasement sur le graphe. Quand le paramètre t tend vers 0, les circonférences des cylindres tendent vers 0 et leurs longueurs restent fixes. On obtient ainsi les arêtes du graphe limite. Les jonctions, elles, sont écrasées dans toutes les directions et donc dégénèrent sur les sommets du graphe limite. Nous étudions alors le comportement asymptotique du spectre de ces variétés lors de cette déformation. Nous adoptons les points de vue de la convergence des valeurs propres ordonnées et de celle des branches analytiques. Ces deux approches sont fondamentalement différentes. Le cas des valeurs propres ordonnées est assez classique et nous retrouvons la convergence vers le spectre du graphe limite. L’étude des branches analytiques est plus original. Nous montrons la convergence et donnons une caractérisation des limites possibles. Ces résultats s’appliquent dans le cas des surfaces de translations qui possèdent une direction complètement périodique.In this work, we give a general framework of Riemannian surfaces that can degenerate on metric graphs and that we call surfaces made from cylinders and connecting pieces. The latter depend on a parameter t that describes the degeneration. When t goes to 0, the waists of the cylinders go to 0 but their lengths stay fixed. We thus obtain the edges of the limiting graph. The connecting pieces are squeezed in all directions and degenerate on the vertices of the limiting graph. We then study the asymptotic behaviour of the spectrum of these surfaces when t varies from two different points of view, considering the spectrum either as a sequence of ordered eigenvalues or as a collection of analytic eigenbranches. In the case of ordered eigenvalues, we recover a rather classical statement, and prove that the spectrum converges to the spectrum of the limiting object. The study of the analytic eigenbranches is more original. We prove that any such eigenbranch converges and we give a characterisation of the possible limits. These results apply to translation surfaces on which there is a completely periodic direction

Poplar stem transcriptome is massively remodelled in response to single or repeated mechanical stimuli

Abstract Background Trees experience mechanical stimuli -like wind- that trigger thigmomorphogenetic syndrome, leading to modifications of plant growth and wood quality. This syndrome affects tree productivity but is also believed to improve tree acclimation to chronic wind. Wind is particularly challenging for trees, because of their stature and perenniality. Climate change forecasts are predicting that the occurrence of high wind will worsen, making it increasingly vital to understand the mechanisms regulating thigmomorphogenesis, especially in perennial plants. By extension, this also implies factoring in the recurring nature of wind episodes. However, data on the molecular processes underpinning mechanoperception and transduction of mechanical signals, and their dynamics, are still dramatically lacking in trees. Results Here we performed a genome-wide and time-series analysis of poplar transcriptional responsiveness to transitory and recurring controlled stem bending, mimicking wind. The study revealed that 6% of the poplar genome is differentially expressed after a single transient bending. The combination of clustering, Gene Ontology categorization and time-series expression approaches revealed the diversity of gene expression patterns and biological processes affected by stem bending. Short-term transcriptomic responses entailed a rapid stimulation of plant defence and abiotic stress signalling pathways, including ethylene and jasmonic acid signalling but also photosynthesis process regulation. Late transcriptomic responses affected genes involved in cell wall organization and/or wood development. An analysis of the molecular impact of recurring bending found that the vast majority (96%) of the genes differentially expressed after a first bending presented reduced or even net-zero amplitude regulation after the second exposure to bending. Conclusion This study constitutes the first dynamic characterization of the molecular processes affected by single or repeated stem bending in poplar. Moreover, the global attenuation of the transcriptional responses, observed from as early as after a second bending, indicates the existence of a mechanism governing a fine tuning of plant responsiveness. This points toward several mechanistic pathways that can now be targeted to elucidate the complex dynamics of wind acclimation

Acclimation of Populus to wind: kinetic of the transcriptomic response to single or repeated stem bending

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