Exchange rate regimes and the twin economies of Hong Kong and Singapore

Based on a small, open-economy IS-LM prototype model, this paper examines the sources of macroeconomic instabilities in Hong Kong and Singapore operating under two similar cu訂ency board arrangements (CBAs). The empirical findings suggest that in general both extemal and intemal factors contribute to the macroeconomic volatilities observed in the two economies. Interestingly, whilst in Hong Kong interest rate is the single most important factor accounting for the variation in real GDP, price level and money supply, in most cases in Singapore the volatilities of these three macro variables cannot be attributed to a significant single facto r. Interest rate in both Hong Kong and Singapore moves in tandem with that of the US in the long run. In the short run, the US interest rate has both direct and indirect impacts on the two economies. Due to the high openness, international prices also affect domestic demands and prices in Hong Kong and Singapore. In addition, macroeconomic volatilities in Hong Kong and Singapore are also attributable to the shocks in their domestic demand, though the relative magnitude of impact differs. Finally, there is evidence of a trade-off between exchange rate and interest rate targeting for the stability of money supply in Singapore. Our findings provide a useful framework for future research on the financial and monetary transmission mechanisms in the twin economies of Hong Kong and Singapore

Renminbi Internationalisation: Precedents and Implications

While it is commonly assumed that there are no known precedents against which to benchmark the internationalisation of the Renminbi (RMB), this paper argues that the PRCs own development experience provides a useful perspective on the internationalisation debate. In particular it indicates that lessons can be learnt from both the successes and the shortcomings of efforts to internationalise the RMB in the 1970s. During this period state-owned banks in Hong Kong played a central role in mobilising finance for foreign trade. Access to Hong Kong’s developed financial institutions allowed the PRC to maximise receipts from foreign trade as well as minimise the risks of undue swings in capital flows. The paper shows that although China no longer faces foreign exchange scarcity, economic reforms have not yet resolved vulnerabilities in China’s financial institutions and as such Hong Kong’s role in mitigating the risk of undue capital swings remains

Distribution patterns of Diaphorina citri Kuwayama (Hemiptera: Psyllidae) eggs, nymphs and adults in a Malaysian citrus orchard

Spatial distribution of eggs, nymphs and adults of Diaphorina citri (Hemiptera: Psyllidae) was studied in a commercial orchard in SW Sarawak, Malaysia, using mean–variance test, the index of dispersion, and the negative binomial distribution. To further ascertain and confirm the distribution pattern in the population of the psyllid, dispersion indices (index of mean crowding, Lloyd’s index of patchiness, Taylor’s power law and Iwao’s patchiness regression) were calculated. Measurable tests showed that distribution of eggs and nymphs in naturally occurring psyllid populations was highly aggregated, resulting from initially aggregated migration of adults and a contagious dispersion of them on flushes as the population density increased of metals in the present study can be used as suitable reference for future studies

This is Not an Article: a reflection on Creative Research Dialogues (This is Not a Seminar)

This is Not a Seminar (TINAS) is a multidisciplinary forum established in 2012 at Edith Cowan University (ECU) in Australia to support practice-led and practice-based Higher Degree by Research students. The Faculty of Education and Arts at ECU includes cohorts of postgraduate research students in, for example, performance, design, writing and visual arts. We established the TINAS programme to assist postgraduate research students in connecting their creative practices to methodological, theoretical and conceptual approaches whilst fostering an atmosphere of rapport across creative disciplines. The pilot programme conducted for six months in 2012 comprised dialogues with experienced creative researchers; critical reading sessions on practice-led theory; and workshops in journaling, ethics and copyright. This article is a reflection on the strengths and limitations of TINAS and future projections. More than an additional teaching and learning service, the programme has become a vital forum for creative dialogue

Extension of Time (EoT) Considerations in Construction Duration Estimate for Public Construction Projects

Construction duration is defined as the time frame given by the Client of a project use to complete the project under normal working conditions, practice of construction. However, often times, projects faced time overruns and hence, needing to activate contractual remedies like Extension of Time (EoT). This paper aims to investigate the factors related to award the Extension of Time (EoT) for construction projects in especially in the public sector in Sarawak. A structured checklist was created as an instrument and employed to accomplish the objective of this research. A total of 111 previous public projects which were granted EoT were studied. The findings revealed several detailed factors that had typically led to project delays in the State. These findings are expected to offer the construction industry stakeholders in Sarawak a focal point on those delay that could be included in construction project duration estimates and management of construction performances, followed by the appropriate corrective and improvement measures for time management for construction projects

Transplantation of canine olfactory ensheathing cells producing chondroitinase ABC promotes chondroitin sulphate proteoglycan digestion and axonal sprouting following spinal cord injury

Olfactory ensheathing cell (OEC) transplantation is a promising strategy for treating spinal cord injury (SCI), as has been demonstrated in experimental SCI models and naturally occurring SCI in dogs. However, the presence of chondroitin sulphate proteoglycans within the extracellular matrix of the glial scar can inhibit efficient axonal repair and limit the therapeutic potential of OECs. Here we have used lentiviral vectors to genetically modify canine OECs to continuously deliver mammalian chondroitinase ABC at the lesion site in order to degrade the inhibitory chondroitin sulphate proteoglycans in a rodent model of spinal cord injury. We demonstrate that these chondroitinase producing canine OECs survived at 4 weeks following transplantation into the spinal cord lesion and effectively digested chondroitin sulphate proteoglycans at the site of injury. There was evidence of sprouting within the corticospinal tract rostral to the lesion and an increase in the number of corticospinal axons caudal to the lesion, suggestive of axonal regeneration. Our results indicate that delivery of the chondroitinase enzyme can be achieved with the genetically modified OECs to increase axon growth following SCI. The combination of these two promising approaches is a potential strategy for promoting neural regeneration following SCI in veterinary practice and human patients

Differential regulation of mast cell degranulation versus cytokine secretion by the actin regulatory proteins Coronin1a and Coronin1b

Coronin1a inhibits mast cell degranulation through actin cytoskeletal dynamics while augmenting cytokine secretion, an effect exacerbated by additional loss of Coronin1b

Notch signaling during human T cell development

Notch signaling is critical during multiple stages of T cell development in both mouse and human. Evidence has emerged in recent years that this pathway might regulate T-lineage differentiation differently between both species. Here, we review our current understanding of how Notch signaling is activated and used during human T cell development. First, we set the stage by describing the developmental steps that make up human T cell development before describing the expression profiles of Notch receptors, ligands, and target genes during this process. To delineate stage-specific roles for Notch signaling during human T cell development, we subsequently try to interpret the functional Notch studies that have been performed in light of these expression profiles and compare this to its suggested role in the mouse

Asynchronous combinatorial action of four regulatory factors activates Bcl11b for T cell commitment

During T cell development, multipotent progenitors relinquish competence for other fates and commit to the T cell lineage by turning on Bcl11b, which encodes a transcription factor. To clarify lineage commitment mechanisms, we followed developing T cells at the single-cell level using Bcl11b knock-in fluorescent reporter mice. Notch signaling and Notch-activated transcription factors collaborate to activate Bcl11b expression irrespectively of Notch-dependent proliferation. These inputs work via three distinct, asynchronous mechanisms: an early locus 'poising' function dependent on TCF-1 and GATA-3, a stochastic-permissivity function dependent on Notch signaling, and a separate amplitude-control function dependent on Runx1, a factor already present in multipotent progenitors. Despite their necessity for Bcl11b expression, these inputs act in a stage-specific manner, providing a multitiered mechanism for developmental gene regulation

Individual Actin Filaments in a Microfluidic Flow Reveal the Mechanism of ATP Hydrolysis and Give Insight Into the Properties of Profilin

A novel microfluidic approach allows the analysis of the dynamics of individual actin filaments, revealing both their local ADP/ADP-Pi-actin composition and that Pi release is a random mechanism