STOCK MARKET DEVELOPMENT AND ECONOMIC GROWTH: THE CAUSAL LINKAGE

This paper addresses the question: does stock market development cause growth? It examines the causal linkage between stock market development, financial development and economic growth. The argument is that any inference that financial liberalisation causes savings or investment or growth, or that financial intermediation causes growth, drawn from bivariate causality tests may be invalid, as invalid causality inferences can result from omitting an important variable. The empirical part of this study exploits techniques recently developed by Toda and Yamamoto (1995) to test for causality in VARs, and emphasises the possibility of omitted variable bias. The evidence obtained from a sample of seven countries suggests that a well-developed stock market can foster economic growth in the long run. It also provides support to theories according to which well-functioning stock markets can promote economic development by fuelling the engine of growth through faster capital accumulation, and by tuning it through better resource allocation.Financial Development, Economic Growth, Stock Market, Causality Testing, VARs, Incomplete Systems

A Phenomenological Analysis of Managerial Capability in SMEs in Nigeria

As concluded by researchers change process of transformation involves implementation of better strategies to have sustainable competitive advantage. Non financing strategies should be adopted rather than solely relying on financial indices as observed in most Nigerian SMEs. This research argues that managerial capabilities which include HR competencies and skills are vital for business survival as such employers should develop and execute strategies to prioritise capabilities. The aim of this study is to evaluate phenomenologically an interpretation of managerial capability as a non-financial dimension of Organisational Health in relation to the growth of SMEs in the Nigerian context. It is pertinent to know that managerial capability which is one of the soft factor dimensions has already identified skills and competencies in related literature. This interpretive phenomenological study adopted an inductive approach using the philosophical paradigm of constructivism and semi-structured interviews for data collection. Nvivo software was used for the data analysis. The study’s key findings show that managerial capability has the highest percentage and seems to be the ultimate foundation of Organisational Health. It further shows that connectivity and relationship exist between dimensions of Organisational Health especially capability and leadership on the one hand and accountability and reporting structure on the other hand which all have influence on the growth of SMEs. However, capability and accountability are found to have stronger influence on SMEs' growth compared to leadership and reporting structure. This study reveals that the successes of SMEs are closely tied to socio-psychological processes and not only to financing support. DOI: 10.5901/mjss.2016.v7n3p12

Mucin1 expression and gustatory function in postmenopausal females : a case-control observational study

Investigating possible relationship between Mucin1 expression levels in saliva, gustatory function, and taste perception in postmenopausal females. Using whole mouth taste test, twenty-five post-menopausal females (51.35 ± 5.22 years) and twenty-five p

Calli Essential Oils Synergize with Lawsone against Multidrug Resistant Pathogens.

The fast development of multi-drug resistant (MDR) organisms increasingly threatens global health and well-being. Plant natural products have been known for centuries as alternative medicines that can possess pharmacological characteristics, including antimicrobial activities. The antimicrobial activities of essential oil (Calli oil) extracted from the Calligonum comosum plant by hydro-steam distillation was tested either alone or when combined with lawsone, a henna plant naphthoquinone, against MDR microbes. Lawsone showed significant antimicrobial activities against MDR pathogens in the range of 200-300 µg/mL. Furthermore, Calli oil showed significant antimicrobial activities against MDR bacteria in the range of 180-200 µg/mL, Candida at 220-240 µg/mL and spore-forming Rhizopus fungus at 250 µg/mL. Calli oil's inhibition effect on Rhizopus, the major cause of the lethal infection mucormycosis, stands for 72 h, followed by an extended irreversible white sporulation effect. The combination of Calli oil with lawsone enhanced the antimicrobial activities of each individual alone by at least three-fold, while incorporation of both natural products in a liposome reduced their toxicity by four- to eight-fold, while maintaining the augmented efficacy of the combination treatment. We map the antimicrobial activity of Calli oil to its major component, a benzaldehyde derivative. The findings from this study demonstrate that formulations containing essential oils have the potential in the future to overcome antimicrobial resistance

IMMUNE RESPONSES IMPORTANT IN THE REGULATION OF HUMAN IMMUNODEFICIENCY VIRUS-1 (HIV-1) AND HEPATITIS C VIRUS (HCV) IN PEOPLE WHO INJECT DRUGS (PWID)

Increased mortality among people who inject drugs (PWIDs) is attributed in part to the higher prevalence of chronic viral infections, notably HIV-1 and HCV. Approximately 38 million people globally are currently living with HIV-1. Type 1 interferons are important host factors that respond to HIV-1 infection by upregulating many interferon-stimulated genes (ISGs) with diverse antiviral effects. ISGs that restrict HIV-1 in humans have been poorly characterized; however, they demonstrate potential to be small molecule inhibitors that target HIV-1 during various stages in the life cycle. Here, we aim to better understand ISGs important in controlling HIV-1 infection. Therefore, we enrolled 19 HIV-1 infected patients with uncontrolled viremia and administered peginterferon alpha 2b (IFN). RNAseq was performed on activated CD4+ T cells and ISGs up-regulated in at least 11/19 people were identified. Both BCL2L14 and CMPK2 were identified as ISGs that were important in controlling HIV-1 in this cohort. RNA interference demonstrated that the anti-HIV-1 effect of IFNα could be attributable to both CMPK2 and BCL2L14. This is the first study to comprehensively assess both CMPK2 and BCL2L14 role’s in HIV-1 infection. Hepatitis C virus (HCV) remains another major global health epidemic, with approximately 70 million infected worldwide. Approximately 25% of individuals infected with HCV spontaneously clear infection. These individuals mount responses that lead to subsequent control of future HCV infections. Although the ability to spontaneously control multiple HCV infections is not indicative of sterilizing immunity, it seems to provide protective immunity against future reinfections. Here, we aim to better understand HCV- specific CD8+ and CD4+ T-cells by developing a high-parameter phenotypic flow cytometry panel. This panel will simultaneously assess 27 phenotypic markers, including many exhaustion markers, to fully characterize CD4+ and CD8+ T-cells in individuals who progress to chronic infection, in comparison to those who spontaneously clear multiple reinfections. This work aims to inform vaccine development by characterizing essential cytolytic T-cell (CTL) epitopes for controlling infection, identifying inhibitory marker/s, and characterizing rare T-cell populations that may be important in controlling HCV infection. Most importantly, this work is the first development of a high parameter flow cytometry panel to study HCV- specific T-cells in reinfection

Significance of serum levels of angiopoietin-2 and its relationship to Doppler ultrasonographic findings in rheumatoid arthritis patients

AbstractBackgroundAngiopoietin-2 (Ang-2) is connected to angiogenesis in synovial regions, but the significance of its levels in patients with rheumatoid arthritis (RA) is still unclear.Aim of the workTo evaluate the significance of serum levels of Ang-2 in patients with RA. Also, to determine Ang-2 relationship to the findings of joints Doppler ultrasonographic findings.Patients and methodsThis study included 40 patients with RA, and 25 matched healthy controls. All patients were subjected to assessment of pain using visual analogue scale (VAS), assessment of personal activity using the Health Assessment Questionnaire (HAQ) score, and calculation of disease activity score (DAS 28). Laboratory assays of complete blood count (CBC), C-reactive protein (CRP), erythrocyte sedimentation rate (ESR), rheumatoid factor (RF) titre, and measurement of serum levels of Ang-2 by ELISA. Doppler ultrasonography (US) assessment for eight joints, with calculation of synovial thickness and total signal score (TSS), was done.ResultsSerum Ang-2 levels were significantly higher among patients (3191.3±594.9pg/ml) than controls (1771.7±103.1pg/ml) (p<0.001). Serum Ang-2 levels were significantly correlated with ESR, CRP, DAS28, and duration of morning stiffness (p<0.001, p<0.001, p<0.001, and p=0.025, respectively). There was a significant correlation between serum Ang-2 levels and findings of US, regarding joint synovial thickness, and TSS (p<0.001, for both).ConclusionPatients with RA had significantly higher levels of serum Ang-2 versus controls. In those patients, serum Ang-2 levels were significantly correlated with disease activity markers (ESR, CRP), DAS28, and duration of morning stiffness. Moreover, these levels were significantly correlated with synovial thickness, and TSS. The role of Ang-2 in RA pathogenesis might open the door to the development of new therapeutic strategies, particularly which target angiogenesis

Effect of Modifying Mechanical Ventilator Trigger Sensitivity on Arterial Blood Gases in ICU Patients

Background: Despite the fact that mechanical ventilation is an essential part in management of critically ill patients, mechanically ventilated patients have a higher risk of complications, which can lead to increased morbidity and mortality. Objective: This study aimed to study the effect of training inspiratory muscle through modifying mechanical ventilator (MV) trigger sensitivity on arterial blood gases in mechanically ventilated patients. Patients and Methods: Sixty adult patients diagnosed with acute respiratory failure, needed to be intubated and connected to mechanical ventilated. They were from both gender and their ages ranged from 50 to 70 years. The patient were chosen from Intensive Care Unit (ICU), Department of Chest Diseases, Cairo University Hospitals. They were randomly assigned into two equal groups. Group (A): included thirty patients who received training for inspiratory muscle through modifying MV trigger sensitivity plus usual physical therapy. Group (B): included thirty patients who received usual physical therapy only. Results: The results showed a significant increase in partial arterial pressure (PaO2) in both groups, this increasing was significantly higher in&nbsp; patients who received training for the inspiratory muscle plus the usual chest physical therapy than patients who only received usual chest physical therapy (P-value &lt; 0.001). The results showed no significant change in neither power of hydrogen (pH) nor partial pressure of carbon dioxide (PaCO2). Conclusion: Training to inspiratory muscles in mechanically ventilated patient through modifying mechanical ventilator trigger sensitivity can produce a significant increase in partial arterial pressure (PaO2). Although it has no effect in pH nor PaCO2

Evaluation of the safety and antioxidant activities of Crocus sativus and Propolis ethanolic extracts

AbstractThe possible toxicological effects and in vitro antioxidant activity of the ethanolic extracts of Crocus sativus and Propolis were investigated. Both extracts did not cause any mortalities or signs of toxicity in mice when administered orally at doses up to 5g/kgb.wt. In the sub-chronic study; the tested extracts did not produce any significant change in liver and kidney functions of rats, following oral administration for 8 successive weeks at doses of 500mg/kgb.wt. of each. Propolis showed remarkable in vitro antioxidant activity at concentrations of (40–100mg/ml). In contrast, the ethanolic extract of C. sativus ethanolic extract showed weak antioxidant activity in concentrations of (1–10mg/ml) while at concentrations of (20–100mg/ml) failed to exhibit any antioxidant activity. It was concluded that: both extracts were non-toxic, as they did not cause any mortalities or signs of toxicity in mice when administered orally at doses up to 5g/kgb.wt. Daily oral administration of C. sativus, Propolis ethanolic extracts alone or in combination for 8 successive weeks to rats was quiet safe and didn't cause any toxic changes in liver and kidney. Antioxidant study showed that Propolis ethanolic extract was a more potent antioxidant than C. sativus extract

Effect of geometrical properties on strength of externally prestressed steel-concrete composite beams

A parametric study was carried out to investigate the structural behaviour of composite steel-concrete T-beams under different prestressing conditions. The studied parameters include different cases of loading, tendon profiles, beam spans, initial prestressing levels and different dimensions of steel sections and concrete deck. The studied beams were modelled by the finite-element software Ansys. The effect of three geometrical parameters was investigated for three different tendon profiles. It was found that straight tendon profiles are more appropriate for beams under distributed loads, whereas a draped tendon profile is more convenient for beams under concentrated loads. In addition, the ratio of the tension flange area to the compression flange area is the most effective geometrical parameter on the ultimate resistance of the studied prestressed beams. For instance, increasing this ratio from 1 to 3 resulted in increasing the additional resistance of the beam due to prestressing from 15·4 to 46·1%. For composite beams, the presence of the concrete slab prevented the lateral-torsional buckling and accordingly minimised the effect of the span. Moreover, increasing the slab thickness-to-width ratio resulted in enhancing the average increase in beam strength from 13·5 to 19·9%

ON THE EXISTENCE OF MILD SOLUTIONS OF SEMILINEAR FUNCTIONAL DIFFERENTIAL INCLUSIONS

In this paper the existence of local and global mild solution of a semi-linear functional differential inclusion in the case when the kernel is not necessarily compact is proved. Also, some topological properties of the solution set are obtained.In this paper the existence of local and global mild solution of a semi-linear functional differential inclusion in the case when the kernel is notnecessarily compact is proved. Also, some topological properties of thesolution set are obtained