International macroeconomic adjustment, 1987-1992 : a world model approach

In forecasting key economic indicators for the major industrial countries, the Bank's Economic Analysis and Prospects Division (IECAP) does not rely on a completely linked global macroeconomic model. This paper asks if IECAP forecasts are consistent with those produced by linked models. To answer this, Bank assumptions about exchange rates and commodity prices are introduced into three global models (OECD, Project Link, and Wharton Econometrics). Following the introduction, section 2 explains the structure of each model. Section 3begins the process of explaining and elaborating on the differences in the forecasts, through a comparison of the key assumptions used in each model. Section 4 presents a comparison of the IECAP baseline with the baseline presented by each organization. In section 5, the results of model simulations using IECAP's assumptions for exchange rates and commodity prices are discussed. In section 6, an attempt is made to explain the differences in the projection results; following this a set of alternative scenarios using each model is presented. Finally, in the last section, the main conclusions are presented.Economic Theory&Research,Environmental Economics&Policies,Economic Stabilization,Macroeconomic Management,Financial Intermediation

Imports , exports , and industrial performance in India , 1970-88

In the 1960's and 1970's, India's policy of encouraging self-sufficiency by restricting imports was complemented by regulation of all facets of the industrial environment. Still, India developed a large, diversified manufacturing sector. In 1977-78, the policy environment began to change - with a relaxing of import controls and restrictions that has continued until now. With reform of industrial policies and a more expansionary macroeconomic policy, the value added in manufacturing grew from 4.5 percent a year in the 1970's to 7.9 percent a year in the 1980's. Meanwhile, gradual depreciation of the currency since 1985 has encouraged exports and brought prices in India closer to world levels. The faster growth of output and productivity in the 1980's is a welcome change from India's earlier stagnation. But deteriorating macroeconomic balances have brought India to a balance of payments crisis. Changes in tariffs and other instruments have more than compensated for relaxation of the import regime. Foreign trade has contracted relative to domestic output, despite some relaxation of quantity restrictions and attempts to increase exports. The main reason for this decline has been the increase in import prices relative to domestic output because of increasing tariffs, large real devaluations (especially after 1986), and rapidly expnanding domestic demand, which have made the domestic market more attractive than exports. Policy reform has led to faster growth of manufacturing output and productivity, but the main force behind faster growth has been increased public spending fueled by growing fiscal deficits. Another important variable has been a more accommodating import policy sustained by large external borrowings. This pattern of growth is not sustainable because of significant internal and external debt stocks that have accumulated over the last decade. Macroeconomic and trade policy must change significantly to shift the economy to a more export-oriented path - both to overcome the foreign exchange shortages and to rely more on external demand for industrial output. The authors argue that the manufacturing sector is highly responsive to relative price changes. Pessimism about elasticity has pervaded Indian policy making but they show high elasticities, indicating that the economy would respond favorably to changes in incentives.Economic Theory&Research,Environmental Economics&Policies,TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT,Consumption,Trade Policy

Long-term coastal openness variation and its impact on sediment grain-size distribution:a case study from the Baltic Sea

We analysed the long-term variations in grain-size distribution in sediments from Gåsfjärden, a fjordlike inlet in the southwestern Baltic Sea, and explored potential drivers of the recorded changes in the sediment grain-size data. Over the last 5.4 thousand years (ky) in the study region, the relative sea level decreased 17 m, which was caused by isostatic land uplift. As a consequence, Gåsfjärden was transformed from an open coastal setting to a semi-closed inlet surrounded by numerous small islands on the seaward side. To quantitatively estimate the morphological changes in Gåsfjärden over the investigated time period and to further link the changes to the grain-size distribution data, a digital elevation model (DEM)-based openness index was calculated. The largest values of the openness indices were found between 5.4 and 4.4 cal ka BP, which indicates relatively high bottom water energy. During the same period, the highest sand content (∼0.4 %) and silt / clay ratio (∼0.3) in the sediment sequence were also recorded. After 4.4 cal ka BP, the average sand content was halved to ∼0.2% and the silt / clay ratio showed a significant decreasing trend over the last 4 ky. These changes were found to be associated with the gradual embayment of Gåsfjärden, as represented by the openness indices. The silt / clay ratios exhibited a delayed and relatively slower change compared with the sand content, which indicates different grain-size sediment responses to the changes in hydrodynamic energy. Our DEM-based coastal openness indices have proved to be a useful tool for interpreting the temporal dynamics of sedimentary grain size

Liberalization of trade: why so much controversy?

Drawing on the experience and academic research of the 1990s, this chapter identifies five lessons: • Openness to trade has been a central element of successful growth strategies. In all countries that have sustained growth the share of trade in gross domestic product (GDP) has increased, and trade barriers have been reduced. • Trade is an opportunity, not a guarantee.While trade reforms can help accelerate integration in the world economy and strengthen an effective growth strategy, they cannot ensure its success. Other elements that address binding constraints to growth are needed, possibly including sound macroeconomic management, trade-related infrastructure and institutions, and economywide investments in human capital and infrastructure. • There are many possible ways to open an economy. The challenge for policy makers is to identify which best suits their country’s political economy, institutional constraints, and initial conditions.As these vary from country to country, it is not surprising that there is a striking heterogeneity in country experiences regarding the timing and pace of reforms. Different countries have opened up different sectors at different speeds (for example Bangladesh and India); others have achieved partial liberalization through the establishment of export processing zones (for example China and Mauritius); and yet others have combined unilateral trade reforms with participation in regional trade agreements (for example Estonia). • The distributive effects of trade liberalization are diverse, and not always pro-poor.Trade reforms were expected to increase the incomes of the unskilled in countries with a comparative advantage in producing unskilled-intensive goods.Yet evidence from the 1990s suggests that even in instances where trade policy has reduced poverty, there are still distributive issues. One important policy lesson is that countries need to help workers affected move out of contracting (import-competing) sectors into expanding (exporting) sectors. This is an issue relevant to both developing and industrialized countries. • The preservation and expansion of the world trade system hinges on its ability to strike a better balance between the interests of industrialized and developing countries. Global markets are the most hostile to the products produced by the world’s poor—such as agricultural products and textiles and apparel.The problems of escalating tariffs, tariff peaks, and quota arrangements systematically deny the poor market access and skew the incentives against adding value in poor countries. These problems can be addressed through collective action, best pursued through the Doha Round and the World Trade Organization

Liberalization of trade: why so much controversy?

Drawing on the experience and academic research of the 1990s, this chapter identifies five lessons: • Openness to trade has been a central element of successful growth strategies. In all countries that have sustained growth the share of trade in gross domestic product (GDP) has increased, and trade barriers have been reduced. • Trade is an opportunity, not a guarantee.While trade reforms can help accelerate integration in the world economy and strengthen an effective growth strategy, they cannot ensure its success. Other elements that address binding constraints to growth are needed, possibly including sound macroeconomic management, trade-related infrastructure and institutions, and economywide investments in human capital and infrastructure. • There are many possible ways to open an economy. The challenge for policy makers is to identify which best suits their country’s political economy, institutional constraints, and initial conditions.As these vary from country to country, it is not surprising that there is a striking heterogeneity in country experiences regarding the timing and pace of reforms. Different countries have opened up different sectors at different speeds (for example Bangladesh and India); others have achieved partial liberalization through the establishment of export processing zones (for example China and Mauritius); and yet others have combined unilateral trade reforms with participation in regional trade agreements (for example Estonia). • The distributive effects of trade liberalization are diverse, and not always pro-poor.Trade reforms were expected to increase the incomes of the unskilled in countries with a comparative advantage in producing unskilled-intensive goods.Yet evidence from the 1990s suggests that even in instances where trade policy has reduced poverty, there are still distributive issues. One important policy lesson is that countries need to help workers affected move out of contracting (import-competing) sectors into expanding (exporting) sectors. This is an issue relevant to both developing and industrialized countries. • The preservation and expansion of the world trade system hinges on its ability to strike a better balance between the interests of industrialized and developing countries. Global markets are the most hostile to the products produced by the world’s poor—such as agricultural products and textiles and apparel.The problems of escalating tariffs, tariff peaks, and quota arrangements systematically deny the poor market access and skew the incentives against adding value in poor countries. These problems can be addressed through collective action, best pursued through the Doha Round and the World Trade Organization

Green polymers toward nanobiotechnology(I): synthesis of glycopolypeptides and their analogues

Harnessing natural-based renewable molecular resources to construct functional synthetic green polymers is a promising research frontier at the interface of sustainable/green chemistry, polymer chemistry and nanobiotechnology. As natural glycoprotein mimics/analogues and biocompatible building blocks of nanobio- materials, synthetic functional glycopolypeptides and their structural/functional analogues have attracted great attentions in recent years. This mini-perspective article reviewed current synthetic strategies and methods of glycopolypeptides and their analogues. The pros and cons of the synthesis protocols were discussed, moreover, possible future perspectives in this field were also stated.info:eu-repo/semantics/publishedVersio

Pharmacological inhibition of I-K1 by PA-6 in isolated rat hearts affects ventricular repolarization and refractoriness

The inwardly rectifying potassium current (I(K) (1)) conducted through K(ir)2.X channels contribute to repolarization of the cardiac action potential and to stabilization of the resting membrane potential in cardiomyocytes. Our aim was to investigate the effect of the recently discovered I(K) (1) inhibitor PA‐6 on action potential repolarization and refractoriness in isolated rat hearts. Transiently transfected HEK‐293 cells expressing I(K) (1) were voltage‐clamped with ramp protocols. Langendorff‐perfused heart experiments were performed on male Sprague–Dawley rats, effective refractory period, Wenckebach cycle length, and ventricular effective refractory period were determined following 200 nmol/L PA‐6 perfusion. 200 nmol/L PA‐6 resulted in a significant time‐latency in drug effect on the I(K) (1) current expressed in HEK‐293 cells, giving rise to a maximal effect at 20 min. In the Langendorff‐perfused heart experiments, PA‐6 prolonged the ventricular action potential duration at 90% repolarization (from 41.8 ± 6.5 msec to 72.6 ± 21.1 msec, 74% compared to baseline, P < 0.01, n = 6). In parallel, PA‐6 significantly prolonged the ventricular effective refractory period compared to baseline (from 34.8 ± 4.6 msec to 58.1 ± 14.7 msec, 67%, P < 0.01, n = 6). PA‐6 increased the short‐term beat‐to‐beat variability and ventricular fibrillation was observed in two of six hearts. Neither atrial ERP nor duration of atrial fibrillation was altered following PA‐6 application. The results show that pharmacological inhibition of cardiac I(K) (1) affects ventricular action potential repolarization and refractoriness and increases the risk of ventricular arrhythmia in isolated rat hearts

Metabolic and physiological analyses reveal that Populus cathayana males adopt an energy-saving strategy to cope with phosphorus deficiency

Dioecious trees have evolved sex-specific adaptation strategies to cope with inorganic phosphorus (Pi) limitation. Yet, little is known about the effects of Pi limitation on plant metabolism, particularly in dioecious woody plants. To identify potential gender-specific metabolites appearing in response to Pi limitation in poplars, we studied the metabolic and ionomic responses in the roots and leaves of Populus cathayana Rehd males and females exposed to a 60-day period of Pi deficiency. Besides significant decreases in phosphorus contents in both Pi-deficient roots and leaves, the calcium level decreased significantly and the sulfur content increased significantly in Pi-deficient male roots, while the zinc and ferrum contents increased significantly in Pi-deficient female roots. Inorganic P deficiency caused a smaller change in the abscisic acid content, but a significant increase in the jasmonic acid content was detected in both leaves and roots. Salicylic acid significantly decreased under Pi deficiency in male leaves and female roots. Changes were found in phospholipids and phosphorylated metabolites (e.g., fructose-6-phosphate, glycerol-3-phosphate, glucose-6-phosphate, phosphoric acid and inositol-1-phosphate) in roots and leaves. Both P. cathayana males and females relied on inorganic pyrophosphate-dependent but not on Pi-dependent glycolysis under Pi-deficient conditions. Sex-specific metabolites in leaves were primarily in the category of primary metabolites (e.g., amino acids), while in roots primarily in the category of secondary metabolites (e.g., organic acids) and sugars. The metabolome analysis revealed that sexually different pathways occurred mainly in amino acid metabolism, and the tissue-related differences were in the shikimate pathway and glycolysis. We observed changes in carbon flow, reduced root biomass and increased amino acid contents in P. cathayana males but not in females, which indicated that males have adopted an energy-saving strategy to adapt to Pi deficiency. Thus, this study provides new insights into sex-specific metabolic responses to Pi deficiency.Peer reviewe

Dual drug delivery from hydrophobic and hydrophilic intraocular lenses: in-vitro and in-vivo studies

Posterior capsule opacification (PCO) still remains the most frequent long term complication after cataract surgery, while endophthalmitis is rare but severe and should be prevented at all cost. Intraocular lenses (IOLs) with different designs (eg. edge and body-haptics angle) and materials (acrylic hydrophobic and acrylic hydrophilic surfaces) have been studied to reduce PCO. For the prevention of endophthalmitis, intracameral injection followed or not by topical treatment with antibiotics and anti-inflammatories are usually prescribed. The objective of this work was to investigate the use of IOLs as controlled release platforms of two drugs, the antibiotic moxifloxacin (MXF) and the anti-inflammatory ketorolac (KTL) that could advantageously substitute the usual treatment. Two types of IOLs were chosen, hydrophobic and hydrophilic. Hydrophobic IOLs have shown better results in the prevention of PCO because they adhere better to the posterior capsular bag, while hydrophilic IOLs are advised in the case of patients with uveitis, glaucoma or diabetes. The IOLs were loaded with MXF + KTL and sterilized by high hydrostatic pressure. Both IOLs reduced the tendency for adhesion of LECs. In vivo tests were done to compare the concentration of the drugs in the aqueous humor obtained after eye drops administration and drug-loaded IOLs implantation. The developed IOLs were able to release MXF and KTL at therapeutic levels, in a sustained way, which contrasts with the eye drops prophylaxis. No PCO signs were detected and histological analyses demonstrated biocompatibility of these devices.publishe