Effects of Capital Flight on Economic Growth in Selected ASEAN Economies

Prior to the Asian financial crises, Indonesia, Malaysia, the Philippines and Thailand had experienced strong and impressive real economic growth rate from the 1970s to until beginning of 1997. Conventional wisdom hold that with the region’s impressive economic growth associated with higher interest returns and lower risk would expect capital to stay in the countries but not flee. However, it was quite surprising that even during periods of high economic growth rate; there was capital flight in these selected ASEAN economies. The lost of capital through capital flight will intensify capital scarcity problem as it restricts the capacity and the ability to finance domestic investment where resources are most needed to generate economic growth and development particularly after the Asian financial crisis of 1997. Although there are no universally accepted and indisputable definitions of capital flight, however, it is generally agreed that capital flight is the outflow of capital that is conflict with national interests, goals and objective. For the empirical work, the ARDL ‘Bounds test’ approach to cointegration was conducted with annual time series data from 1972 to 2005 to determine factors affecting capital flight from Indonesia, Malaysia, the Philippines and Thailand using World Bank measure, Morgan Guaranty Trust measure and Dooley Derived measure. By using the three alternative measures of capital flight, yields broadly similar results. On one hand, the results indicate that higher capital flight is associated with higher external debt, higher budget deficit as well as higher political instability that proxy by Political rights. On the other hand, the elasticities indicate that higher capital flight is associated with lower Interest rates differential (United States Treasury Bill rate minus domestic deposit rate), and lower accumulation of international reserve. However, the estimated results reveal that only higher capital flight is associated with higher Interest rates differential in Thailand case. Although there are large and growing researches for the determinants of economic growth, there has scarcely been any study concerning the impact of capital flight on economic growth. The empirical results support the contention that capital flight played a crucial role in influencing the four selected ASEAN economic growths. Furthermore, there has been no systematic investigation of the impact of political instability on capital flight and economic growth, particularly the ASEAN countries. The empirical results clearly show that political stability plays an important role in affecting capital flows and in determining economic growth in these four Southeast Asia economies. For a flight relief or even reversal of capital flight to occur as well as to stimulate economic growth, steps includes economic policies, political stability and institutional developments should be taken to prevent the causes of capital flight to ensure sufficient capital resources required for recovery from the current recession in the short-run and accomplish a more sustainable impressive economic growth in the long run. Indeed, the more preferred and effective strategy would be to implement balanced policy measures but not just bias on one or just certain aspects of macroeconomic fundamentals, perhaps, the adaptation of appropriate policy to suit varying circumstances of the economy is more important. Any policy announcements by the government should be in line with the long-term objectives of the country

China and ASEAN-5 bilateral trade relationship

This paper examines the China-ASEAN bilateral trade relationship, using the Gravity model where the per capita income difference is included in the specification for testing the hypothesis. The empirical results based on Bounds test proposed by Pesaran et al. (2001) reveal that the transportation cost and real GDP are statistically significant determinants of bilateral trade. The trade distance remains an important deterrent to China-ASEAN trade, and higher economy size of a country has positive and significant influence on bilateral trade flows. The significant positive sign of the per capita GDP difference (PGDPdiff) variable suggests that Linder Hypothesis does not hold for the entire region

Diagnosis, monitoring and treatment of systemic lupus erythematosus: a systematic review of clinical practice guidelines.

Objectives: Management of SLE is complex and variability in practices exists. Guidelines have been developed to help improve the management of SLE patients but there has been no formal evaluation of these guidelines. This study aims to compare the scope, quality and consistency of clinical practice guidelines on the diagnosis, monitoring and treatment of patients with systemic lupus erythematosus (SLE). Methods: Electronic databases were searched up to April 2014. The Appraisal of Guidelines for Research and Evaluation (AGREE) II instrument and textual synthesis was used to appraise and compare recommendations. Results: Nine clinical practice guidelines and five consensus statements were identified, which covered seven topics: diagnosis, monitoring, treatment, neuropsychiatric SLE, lupus nephritis, anti-phospholipid syndrome and other manifestations of lupus. The methodological quality of the guidelines was variable, with the overall mean AGREE II scores ranging from 31% to 75% out of a maximum 100%. Scores were consistently low for applicability, with only one guideline scoring above 50%. There was substantial variability in the treatments recommended for class II and V lupus nephritis, the recommended duration of maintenance therapy for class III/IV lupus nephritis (from 1 to 4 years), and timing of ophthalmological examination for patients on corticosteroids. Conclusion: Published guidelines on SLE cover a complex area of clinical care but the methodological quality, scope and recommendations varied substantially. Collaborative and multidisciplinary efforts to develop comprehensive, high-quality evidence-based guidelines are needed to promote best treatment and health outcomes for patients with SLE.DT is funded by a postgraduate scholarship from the Sydney Medical School, The University of Sydney

Challenges of refugee teachers in Malaysian community-based learning centers

Because Malaysia is not a signatory to the 1951 RefugeeConvention, the children of refugees living in Malaysia are deprived of any formal education. Children are taught mostly by the refugees themselves, many of whom are volunteers. Most of the community-based learning centers, which encounter many academic and management problems, are also sustained by the refugees. This qualitative study aims to apply the framework of resources and demands theory to explore the work demands encountered by these refugees’ teachers and whether they have enough resources to meet the demands, as the learning centers are self-supported or supported by non-governmental organizations. This study collected data using the focus group method, recruiting participants through purposive sampling. Participants were organized into eight groups, each with seven volunteer participants, and open-ended questions were used for the participants to fully express their views and experiences. The data were analyzed using thematic analysis. The result showed that participants are burdened by academic and administrative tasks, lack of resources, poor infrastructure, and self-incompetence. The findings of the study proposed that more non-government organizations, local communities, and other stakeholders provide expertise and financial assistance to these community-based learning centers as education is the human right of each child. Karena Malaysia bukan merupakan penandatangan Konvensi Pengungsi 1951, hak anak-anak pengungsi untuk mendapat pendidikan resmi telah menjadi sebuah masalah yang tidak begitu diperhatikan. Kebanyakan anak-anak ini diajar oleh guru yang terdiri dari para pengungsi yang bekerja sebagai sukarelawan. Pusat pembelajaran berbasis komunitas dikelola dan dikendalikan oleh pengungsi sering menghadapi pelbagai isu dari segi akademik dan manajemen. Studi pendekatan kualitatif ini menggunakan teori sumber daya dan permintaan sebagai kerangka kajian untuk mengetahui apa saja tuntutan pekerjaan yang dihadapi guru pengungsi dan apakah mereka memiliki sumber daya yang cukup untuk menghadapi tuntutan tersebut, karena pusat pembelajaran bersifat swadaya atau didukung oleh Lembaga Swadaya Masyarakat (LSM). Sumber pembelajaran yang tersedia perlu dikaji supaya cukup menampung serta memenuhi permintaan kerja. Pengumpulan data menggunakan metode focus group dan partisipan direkrut melalui purposive sampling. Partisipan dikumpulkan ke delapan kelompok, masing-masing kelompok terdiri dari tujuh partisipan sukarelawan. Pertanyaan terbuka (open-ended questions) digunakan untuk mendapat pandangan serta pengalaman berkaitan isu yang dikaji. Data dianalisis menggunakan teknik analisis tematik. Hasil temuan menunjukkan bahwa para guru memikul beban yang berat dalam menjalankan tugas akademik serta administrasi. Mereka juga menghadapi isu kurangnya sumber daya, keadaan infrastruktur yang serba kekurangan serta keyakinan diri dalam kompetensi mengajar. Temuan studi ini mengusulkan agar lebih banyak LSM, masyarakat setempat, dan pemangku kepentingan lain menyumbangkan keahlian dan bantuan keuangan pada pusat-pusat pembelajaran tersebut karena pendidikan adalah hak asasi manusia bagi setiap anak-anak

Universal compressive characterization of quantum dynamics

Recent quantum technologies utilize complex multidimensional processes that govern the dynamics of quantum systems. We develop an adaptive diagonal-element-probing compression technique that feasibly characterizes any unknown quantum processes using much fewer measurements compared to conventional methods. This technique utilizes compressive projective measurements that are generalizable to arbitrary number of subsystems. Both numerical analysis and experimental results with unitary gates demonstrate low measurement costs, of order $O(d^2)$ for $d$-dimensional systems, and robustness against statistical noise. Our work potentially paves the way for a reliable and highly compressive characterization of general quantum devices.Comment: 10 pages, 6 figure

Improved Cu 2 O-Based Solar Cells Using Atomic Layer Deposition to Control the Cu Oxidation State at the p-n Junction

Chemistry and Chemical Biolog

Evaluation of sensory and biochemical changes in freshwater catfish stored under vacuum and different modified atmospheres.

The present study was carried out to compare the influence of six different packaging atmospheres (air, vacuum and MAPs including 5% O2 + 40% CO2 + 55% N2, 5% O2 + 60% CO2 + 35% N2, 5% O2 + 80% CO2 + 15% N2 and 100% CO2) on the biochemical and sensory attributes of freshwater catfish fillets stored at 4 °C. Fillets were monitored for biochemical parameters (pH, total volatile bases nitrogen (TVBN), lipid oxidation) and sensory attributes for 21 days. Proximate and fatty acid composition were also determined in fresh fillets. The sensory quality of all fillets was acceptable during the first 13 ± 1 days of storage in air, 16 ± 1 days of storage in vacuum and MAP1, 18 ± 1 days of storage in MAP2 and 20 ± 1 days of storage in MAP3. The overall sensory scores for fillets which were packed under 100% CO2 were higher than the acceptable limit at the end of storage. It was found that fillets consisted of 5.71 g lipid per 100 g which is susceptible to oxidation due to the high amount of unsaturated fatty acids (63.86%) versus saturated fatty acids (31.14%). Vacuum packed and 100% CO2 fillets showed the lowest TBARS values while air-stored samples showed the highest TBA values. TVBN increased negligibly during storage in all treatments and never exceeded the acceptability limit (35 mg N per 100 g). It can be concluded that 100% CO2 was the best evaluated atmosphere for storage of catfish fillets at 4 °C with superior biochemical and sensory attributes

Improve in-depth immunological risk assessment to optimize genetic-compatibility and clinical outcomes in child and adolescent recipients of parental donor kidney transplants: protocol for the INCEPTION study.

BACKGROUND: Parental donor kidney transplantation is the most common treatment option for children and adolescents with kidney failure. Emerging data from observational studies have reported improved short- and medium-term allograft outcomes in recipients of paternal compared to maternal donors. The INCEPTION study aims to identify potential differences in immunological compatibility between maternal and paternal donor kidneys and ascertain how this affects kidney allograft outcomes in children and adolescents with kidney failure. METHODS: This longitudinal observational study will recruit kidney transplant recipients aged ≤18 years who have received a parental donor kidney transplant across 4 countries (Australia, New Zealand, United Kingdom and the Netherlands) between 1990 and 2020. High resolution human leukocyte antigen (HLA) typing of both recipients and corresponding parental donors will be undertaken, to provide an in-depth assessment of immunological compatibility. The primary outcome is a composite of de novo donor-specific anti-HLA antibody (DSA), biopsy-proven acute rejection or allograft loss up to 60-months post-transplantation. Secondary outcomes are de novo DSA, biopsy-proven acute rejection, acute or chronic antibody mediated rejection or Chronic Allograft Damage Index (CADI) score of > 1 on allograft biopsy post-transplant, allograft function, proteinuria and allograft loss. Using principal component analysis and Cox proportional hazards regression modelling, we will determine the associations between defined sets of immunological and clinical parameters that may identify risk stratification for the primary and secondary outcome measures among young people accepting a parental donor kidney for transplantation. This study design will allow us to specifically investigate the relative importance of accepting a maternal compared to paternal donor, for families deciding on the best option for donation. DISCUSSION: The INCEPTION study findings will explore potentially differential immunological risks of maternal and paternal donor kidneys for transplantation among children and adolescents. Our study will provide the evidence base underpinning the selection of parental donor in order to achieve the best projected long-term kidney transplant and overall health outcomes for children and adolescents, a recognized vulnerable population. TRIAL REGISTRATION: The INCEPTION study has been registered with the Australian New Zealand Clinical Trials Registry, with the trial registration number of ACTRN12620000911998 (14th September 2020)

HAWC+ Far-infrared Observations of the Magnetic Field Geometry in M51 and NGC 891

Abstract: Stratospheric Observatory for Infrared Astronomy High-resolution Airborne Wideband Camera Plus polarimetry at 154 μm is reported for the face-on galaxy M51 and the edge-on galaxy NGC 891. For M51, the polarization vectors generally follow the spiral pattern defined by the molecular gas distribution, the far-infrared (FIR) intensity contours, and other tracers of star formation. The fractional polarization is much lower in the FIR-bright central regions than in the outer regions, and we rule out loss of grain alignment and variations in magnetic field strength as causes. When compared with existing synchrotron observations, which sample different regions with different weighting, we find the net position angles are strongly correlated, the fractional polarizations are moderately correlated, but the polarized intensities are uncorrelated. We argue that the low fractional polarization in the central regions must be due to significant numbers of highly turbulent segments across the beam and along lines of sight in the beam in the central 3 kpc of M51. For NGC 891, the FIR polarization vectors within an intensity contour of 1500 are oriented very close to the plane of the galaxy. The FIR polarimetry is probably sampling the magnetic field geometry in NGC 891 much deeper into the disk than is possible with NIR polarimetry and radio synchrotron measurements. In some locations in NGC 891, the FIR polarization is very low, suggesting we are preferentially viewing the magnetic field mostly along the line of sight, down the length of embedded spiral arms. There is tentative evidence for a vertical field in the polarized emission off the plane of the disk

Identification of a novel polyfluorinated compound as a lead to inhibit human enzymes aldose reductase and AKR1B10 : structure determination of both ternary complexes and implications for drug design

Aldo-keto reductases (AKRs) are mostly monomeric enzymes which fold into a highly conserved ([alpha]/[beta])8 barrel, while their substrate specificity and inhibitor selectivity are determined by interaction with residues located in three highly variable external loops. The closely related human enzymes aldose reductase (AR or AKR1B1) and AKR1B10 are of biomedical interest because of their involvement in secondary diabetic complications (AR) and in cancer, e.g. hepatocellular carcinoma and smoking-related lung cancer (AKR1B10). After characterization of the IC50 values of both AKRs with a series of polyhalogenated compounds, 2,2',3,3',5,5',6,6'-octafluoro-4,4'-biphenyldiol (JF0064) was identified as a lead inhibitor of both enzymes with a new scaffold (a 1,1'-biphenyl-4,4'-diol). An ultrahigh-resolution X-ray structure of the AR-­NADP+-JF0064 complex has been determined at 0.85 Å resolution, allowing it to be observed that JF0064 interacts with the catalytic residue Tyr48 through a negatively charged hydroxyl group (i.e. the acidic phenol). The non-competitive inhibition pattern observed for JF0064 with both enzymes suggests that this acidic hydroxyl group is also present in the case of AKR1B10. Moreover, the combination of surface lysine methylation and the introduction of K125R and V301L mutations enabled the determination of the X-ray crystallo­graphic structure of the corresponding AKR1B10-NADP+-JF0064 complex. Comparison of the two structures has unveiled some important hints for subsequent structure-based drug-design efforts