Lacunae in Financial Regulatory Framework Vis-?-Vis Financial Repression.

This article makes four points. First, it suggests regulation of entry into the finance profession, whose tasks would include prescribing? a portfolio choice for (financially) uninformed investors. Second, it suggests that the government should encourage information collection to help ensure informational efficiency of markets. Third, it introduces a new academic concept - optimal noise in financial markets. Fourth, in the context of financial intermediaries, given that deposit insurance, lender of last resort, capital adequacy, and supervision of banks are in place, there is no need to impose the following beyond reasonable prudential norms: (a) cash reserve ratio requirement, (b) statutory liquidity ratio requirement, and (c) barriers to entry.

Why is 100% Reserve Banking Inefficient?

Financial crises are an important concern today. One part of the problem is banking crises, at the root of which is the bank run problem. One solution is 100% reserve banking. But this is inefficient. The reasons are, however, not obvious. The literature on bank runs following Diamond and Dybvig (1983) is based on banks? role in consumption smoothing. However, the earlier (rich) literature is based on banks? role in issuing deposits, which are a component of money and are a source of credit. In this context, a high reserve ratio for commercial banks obviously decreases commercial bank credit. However, in general, it does not decrease total credit. Despite this, 100% reserve banking is inefficient if competitive banks have a comparative advantage over the central bank in providing credit. The paper ends by examining the implications of a decrease in gold reserves held by the central banks.

Financial Repression, Bank Deposits, Real Assets and Black Money

Consider real assets and bank deposits. If returns on deposits improve due to reduction in financial repression, then investment in real assets can fall. However, if role of black money in real asset (secondary) market falls, then investment in the primary market can rise. So financial development will occur if the effect of reduction in financial repression is stronger than that of reduction of black money. This is shown in a model, with forced sales (due to liquidity shock), and strategic sales of real assets (under asymmetric information). Under some conditions, price is irrelevant for strategic trades.

Exploitation of Wastelands for Fodder Production and Agroforestry

Natural resources degradation for agricultural production and environmental protection has been a matter of concern for future food, nutrition, environment and livelihood security. As per current estimates, 120.7 million hectare (mha) is under degraded or wastelands. These lands provide ample opportunity for growing fodder trees and grasses to bridge the gap between demand and supply of green and dry fodder.Several species of fodder trees and grasses have been identified and their agro-techniques standardized for raising in different categories of wastelands such as affected by soil and wind erosion, salinity, acidity and mining etc. A brief account of such plants is discussed in this paper. For example, Prosopis juliflora–Leptochloa fusca agroforestry practice in highly sodic soil (pH \u3e 10.0) is found highly promising for fuel wood and forage production and also for bio-amelioration of high pH soils. The information in the present paper is discussed under the following sub heads: (1) nature, extent and distribution of degraded/wastelands in India, (2) suitable fodder trees, bushes and grasses, (3) agro-techniques for fodder production and agroforestry, (4) production potential and amelioration of wastelands by trees and grasses and (5) future research and policy issues

Changing patterns of cropland use in Bist Doab, Punjab: 1951-1968

This study considers the changes which have occurred in the agrarian economy of Bist Doab, Punjab (India) during the period 1951-1968, a period coinciding with the first three Five-Year Plans of India. It sets out to map, describe and analyse these changes, to capture emerging patterns and to investigate the processes involved in change. In pursuing these aims, the study tests three hypotheses: that agricultural development is a continuous process of linked stages; that water is the most important catalytic factor in explaining and promoting agricultural development and change; and that the human element is critical in any development process and especially so in agricultural development. First the problem is identified and the sources, form and nature of data are described. An assessment of the' role of the physical, social, economic and human environments, technological advances and other related infra-structure in promoting or hindering change is made. The emerging patterns are described and the changes analysed by using various quantitative and non-quantitative techniques. The statistical techniques included the use of Regression, Correlation and Variance techniques and cluster analysis techniques. Automated cartography has made a significant contribution in mapping most of the information. The processes involved in shaping and producing these changes have been investigated. The incoming of experienced and innovative-minded farmers, irrigation water, consolidation of holdings, HYV package, and new technology have played major roles in the transformation of Punjab agriculture. The changes have been very rapid and numerous. The explanation for these changes is sought partly in physical, social, economic, political and technical factors, and partly in the responses and initiatives of the people involved. A series of themes is developed and each chapter considers a different aspect of the rural transformation in which development and change could be demonstrated. Specific case studies of farms and villages have also been carried out to investigate various aspects of change and development. Interviews with the farmers and persons connected with development have further helped in illustrating these themes. Changes reflect time sequence which is analysed and discussed. As far as possible, the spatial and regional differences are brought out and effectively explained. The themes taken up in the study are closely interrelated and, when taken together, build up a picture of dynamic change in the rural scene of Bist Doab during the period under review. The study supports the validity of all the three hypotheses put forth. The principal contribution of this study is firstly towards further understanding of the agricultural change and development in Bist Doab, or for that matter Punjab or even India, and secondly, to suggest the key elements in the processes involved in the change from subsistence to commercial agriculture. The rich experiences of the transformation of agricultural econorny in Punjab also raise a series of warning signals that must be very carefully considered in the determination of the future development possibilities, policies and programmes. It is hoped that the study will be provocative of further observation, thought and service

Financial intermediation and employment

This paper explores the relationship between financial intermediation and employment. We explain why some economies have low financial intermediation even when financial intermediation is safe. Moreover, we seek to explain why these economies tend to be poor and vulnerable, and also have large self-employment even when the latter has low productivity. We model safe but unsound banks and show that the effects of bad banking can be overcome only partially by corrective taxes. The model is extended to incorporate the illegal sector of the economy as well as the labor laws.Financial intermediation, self-employment, tax, labor laws

Formulation Taste Masked Orodispersible Tablet of Pregabalin

In the present work, orodispersible tablets of Pregabalin were designed by preparing tasteless complexes of Pregabalin with weak cation ion exchange resins (KYRON T 134). The ion exchange complexes were prepared by the batch process using activated Kyron T 134 with a drug: resin ratios 1:1, 1:2, 1:3 and 1:4 (% w/w). IR analysis, assay content and decomplexation studies confirmed complex formation. It was found that maximum complexation of drug with resin was noted between pH range 5.5-7, while activation of ion exchange resin does not affects the percent drug loading. Drug release from drug: resin complex in salivary pH was insufficient to impart bitter taste. A study on super-disintegrants along with directly compressible diluents is studied and its effect on disintegration time and enhance mouth feel. The prepared batches of tablets were evaluated for hardness, friability, drug content uniformity and in vitro dispersion time. Based on in vitro disintegration time (approximately 30 s), formulations were tested for in vitro drug release pattern (in 0.06 N HCl)

B753: The Uptake of Nutrients by Katahdin Potatoes as Influenced by Soil Moisture Regimes and Rates of Fertilization

In Aroostook County, Maine, where the annual average rainfall is 35-40 inches, it is generalized by many that moisture is not a limiting factor in potato production. Weather data for Aroostook do, however, show frequent periods of low rainfall during the growing season, and these periods do cause temporary moisture deficiencies in the crop. Struchtemeyer, based on irrigation research in Maine, showed that the potato plant needs approximately 1 inch of water per week during the growing season. From the 1936 to 1955 Maine Weather Records, Pullen and Schrumpf (23) found that about 70 percent of the time, less than 1 inch per week of rainfall can be expected. Thus the use of supplemental irrigation for high potato yields in Maine seems feasible.https://digitalcommons.library.umaine.edu/aes_bulletin/1092/thumbnail.jp

Formulation Taste Masked Orodispersible Tablet of Pregabalin

In the present work, orodispersible tablets of Pregabalin were designed by preparing tasteless complexes of Pregabalin with weak cation ion exchange resins (KYRON T 134). The ion exchange complexes were prepared by the batch process using activated Kyron T 134 with a drug: resin ratios 1:1, 1:2, 1:3 and 1:4 (% w/w). IR analysis, assay content and decomplexation studies confirmed complex formation. It was found that maximum complexation of drug with resin was noted between pH range 5.5-7, while activation of ion exchange resin does not affects the percent drug loading. Drug release from drug: resin complex in salivary pH was insufficient to impart bitter taste. A study on super-disintegrants along with directly compressible diluents is studied and its effect on disintegration time and enhance mouth feel. The prepared batches of tablets were evaluated for hardness, friability, drug content uniformity and in vitro dispersion time. Based on in vitro disintegration time (approximately 30 s), formulations were tested for in vitro drug release pattern (in 0.06 N HCl)