Credit rationing by loan size in commercial loan markets

The authors present a theoretical model in which a profit-maximizing lender may ration credit to businesses by restricting loan size. Such credit rationing occurs despite the absence of differences across borrowers in default risk or loan administration costs. Moreover, the model predicts an interest rate-loan size pattern that matches that observed in U.S. commercial loan markets.Credit ; Bank loans

Readiness of the Philippine Agriculture and Fisheries Sectors for the 2015 ASEAN Economic Community: A rapid appraisal

The ASEAN Economic Community (AEC) transforms the ASEAN region into a single market and production base by 2015. This promotes greater competition for the Philippine agriculture and fisheries (A and F) sectors. With the country's A and F sector lagging behind its neighboring ASEAN countries, there are fears that local industries will be displaced. The Global Trade Analysis model suggests an increase in both imports and exports as an impact of tariff reforms. The sectors ready for integration include mangoes, bananas, and pineapples. For the coconut sector, intensification of planting, replanting, and product diversification are needed to enhance and maintain supply. Production increase for perishable commodities, such as onions and meats, entails the need for lower power costs. With corn as a potential export commodity, cultivation areas are being expanded and agricultural policies are being aligned with the policies of the ASEAN Free Trade Agreement. To reap the benefits from the AEC, several measures must be performed, i.e., diversification and product quality upgrading. Public support must focus on providing adequate infrastructure, general services, research and development, and extension programs. Particularly, this paper recommends modernizing the country's value chains in the A and F sector to effectively mobilize A and F exports into the ASEAN market. This is done by creating industry road maps to equip major stakeholders knowledge on market opportunities; organizing the value chains and effectively assisting their various participants to comply with international trade product standards, processes, and regulations; building capability for effectively managing the risk of disputes among value chain participants; and promoting the cooperation among farmers, small and medium enterprises, and large enterprises within these agro-based value chains

Bridgehead-methyl Analog of SC-53116 as a 5-HT4 Agonist

Pyrrolizidine benzamide (±)-2, the bridgehead-methyl analog of SC-53116, was prepared and evaluated for 5-HT4 agonism activity in the rat tunica muscularis (TMM) mucosae assay. Compound (±)-2 has an EC50 of 449 nM in the TMM assay, as compared to 23 nM for SC-53116, and 66 nM for the racemate of SC-53116

Evaluation of immunomodulatory effects of lactic acid bacteria in turbot (Scophthalmus maximus)

7 pages, 4 figures.In the present work, the effects of several lactic acid bacteria on the immune response of turbot (Scophthalmus maximus) macrophages have been studied both in vitro and in vivo. Out of six lactic acid bacterial strains tested, only heat-killed Lactococcus lactis significantly increased the turbot head kidney macrophage chemiluminescent (CL) response after 24 h of incubation. Nitric oxide (NO) was also significantly enhanced by this bacterium after 72 h of incubation with either viable (103 and 106 cells/ml) or heat-killed (106 cells/ml) bacteria. Viable Leuconostoc mesenteroides (106 cells/ml) was also capable of significantly increasing NO production. Since L. lactis proved to be the strain with more effects on the host immune function, further in vivo and in vitro experiments were conducted with this bacterium. The in vitro capacity of L. lactis to adhere to turbot intestinal mucus was positively confirmed. When orally administered, L. lactis significantly increased the macrophage CL response and the serum NO concentration after 7 days of daily administration. The antibacterial effect of the extracellular products from the six LAB strains against the fish-pathogenic bacterium Vibrio anguillarum was also demonstrated in vitro.This work was partially supported by the project 1FD97-0044-C03-03 from FEDER funds and a grant from Caixa Galicia (Spain). L. Villamil acknowledges the University of Vigo for a research fellowship. C. Tafalla acknowledges the Consejo Superior de Investigaciones Científicas (CSIC) for a research fellowship.Peer reviewe

Resilience and Personal Improvement of Students with Motor Disabilities

The condition of disability causes multiple changes in the life of a person, putting into play different mechanisms that allow him to adapt to the new situation and learn to live with important restrictions that require an effort to realize a normalized life, in a society where there is no shortage discriminatory and differentiating attitudes, which make the process of adaptation to society more difficult, all this influences the efforts to achieve the personal improvement of the disabled and the strengthening of their resilient posture. The objective of the research is to establish the resilience and personal improvement of students with disabilities in the Universidad Técnica de Manabí. The research shows an analysis of the functional and conceptual background of the phenomenon related to motor disability and the rights of people who suffer from it to develop their social skills to obtain a profession. It addresses the concept of resilience and what is related to the ability of people with disabilities to overcome. The results obtained in the application of the SV-RES test prepared by the researchers (Saavedra & Villalta, 2008a), to the students who suffer motor disability and who are enrolled in different careers of the technical university of Manabí, are offered. Offer in tables and an analysis related to the resilience and personal improvement of said students is presented

Determinación astronómica expeditiva de latitud y azimut por distancias cenitales de pares de estrellas a su paso por un vertical próximo al meridiano

El método expuesto en el presente artículo, se fundamenta en la determinación de las distancias cenitales de paso de dos estrellas por uno o varios planos verticales relativamente próximos al meridiano. En latitud se obtiene una exactitud cercana al método de paso de estrellas por el meridiano y en azimut una exactitud próxima al método de estrellas en mayor elongación. Las fórmulas a emplear son sencillas.The method exposed in the present article, is based on the determination of the cenital distances of the passage of twQ stars by one or several vertical planes relatively near to the meridian. A precision comparable to the method of the passage of stars by the meridian is obtained in latitude, and in azimuth an exactitude near to the stars method in greater elongation. The formulae to be employed are simple.Asociación Argentina de Geofísicos y Geodesta

Determinación astronómica expeditiva de latitud y azimut por distancias cenitales de pares de estrellas a su paso por un vertical próximo al meridiano

El método expuesto en el presente artículo, se fundamenta en la determinación de las distancias cenitales de paso de dos estrellas por uno o varios planos verticales relativamente próximos al meridiano. En latitud se obtiene una exactitud cercana al método de paso de estrellas por el meridiano y en azimut una exactitud próxima al método de estrellas en mayor elongación. Las fórmulas a emplear son sencillas.The method exposed in the present article, is based on the determination of the cenital distances of the passage of twQ stars by one or several vertical planes relatively near to the meridian. A precision comparable to the method of the passage of stars by the meridian is obtained in latitude, and in azimuth an exactitude near to the stars method in greater elongation. The formulae to be employed are simple.Asociación Argentina de Geofísicos y Geodesta

High-Resolution Indicators of Soil Microbial Responses to N Fertilization and Cover Cropping in Corn Monoculture

Cover cropping (CC) is the most promising in-field practice to improve soil health and mitigate N losses from fertilizer use. Although the soil microbiota play essential roles in soil health, their response to CC has not been well characterized by bioindicators of high taxonomic resolution within typical agricultural systems. Our objective was to fill this knowledge gap with genus-level indicators for corn [Zea mays L.] monocultures with three N fertilizer rates (N0, N202, N269; kg N ha−1), after introducing a CC mixture of cereal rye [Secale cereale L.] and hairy vetch [Vicia villosa Roth.], using winter fallows (BF) as controls. A 3 × 2 split-plot arrangement of N rates and CC treatments was studied in a randomized complete block design with three replicates over two years. Bacterial and archaeal 16S rRNA and fungal ITS regions were sequenced with Illumina MiSeq system. Overall, our high-resolution bioindicators were able to represent specific functional or ecological shifts within the microbial community. The abundances of indicators representing acidophiles, nitrifiers, and denitrifiers increased with N fertilization, while those of heterotrophic nitrifiers, nitrite oxidizers, and complete denitrifiers increased with N0. Introducing CC decreased soil nitrate levels by up to 50% across N rates, and CC biomass increased by 73% with N fertilization. CC promoted indicators of diverse functions and niches, including N-fixers, nitrite reducers, and mycorrhizae, while only two N-cycling genera were associated with BF. Thus, CC can enhance the soil biodiversity of simplified cropping systems and reduce nitrate leaching, but might increase the risk of nitrous oxide emission without proper nutrient management. This primary information is the first of its kind in this system and provided valuable insights into the limits and potential of CC as a strategy to improve soil health.Fil: Kim, Nakian. University of Illinois at Urbana; Estados UnidosFil: Riggins, Chance W.. University of Illinois at Urbana; Estados UnidosFil: Zabaloy, Maria Celina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Centro de Recursos Naturales Renovables de la Zona Semiárida. Universidad Nacional del Sur. Centro de Recursos Naturales Renovables de la Zona Semiárida; Argentina. Universidad Nacional del Sur. Departamento de Agronomía; ArgentinaFil: Allegrini, Marco. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Rosario. Instituto de Investigaciones en Ciencias Agrarias de Rosario. Universidad Nacional de Rosario. Facultad de Ciencias Agrarias. Instituto de Investigaciones en Ciencias Agrarias de Rosario; ArgentinaFil: Rodriguez Zas, Sandra L.. University of Illinois at Urbana; Estados UnidosFil: Villamil, Maria Bonita. University of Illinois at Urbana; Estados Unido