Phytochemical studies of Melilotus officinalis

GC-MS analysis of the n-hexane extract of Melilotus officinalis seeds revealed twelve compounds with a combined area percentage of 98.33% predominantly, (9Z,12Z)-octadecadienoic acid (20.22%, 366 ppm), 14-methylpentadecanoic acid (19.52%, 353 ppm) and (9E)-octadecenoic acid (15.94%, 289 ppm). Two compounds, namely, cis-coumaric acid-2-O-β-D-glucopyranoside (cis-melilotoside, 1) and 1,2-benzopyrone (coumarin, 2), were isolated from the MeOH extract of the seeds of M. officinalis. The structures of isolated compounds were determined by spectroscopic techniques such as NMR, UV-Vis, and FTIR. The MeOH extract of M. Officinalis was also tested for its antioxidant activity using DPPH assay. The extract showed 29.87% DPPH inhibition at concentration of 100 μg/mL.                     KEY WORDS: Melilotus officinalis, Fatty acid methyl esters, Esterification, GC-MS, DPPH radical scavenging assay, Antioxidant activity   Bull. Chem. Soc. Ethiop. 2021, 35(1), 141-150. DOI: https://dx.doi.org/10.4314/bcse.v35i1.1

Analisis Pengaruh Faktor Internal Bank Terhadap Non Performing Loan Berdasarkan Generalized Method of Moment

This research aims at finding out the effect of bank internal factor towards Non-Performing Loan (NPL). The internal factors of bank used in this study cover credit expansion level, operational efficiency level, credit interest level, and the percentage of credit with problems in the previous period as dynamic effect. The research was very important to conduct considering in some recent periods, the ratio of NPL owned by the bank group tend to show an increase. If compared to some previous research (especially the research that took the study case in Indonesia), this study had some strengths such as the sample used was relatively bigger in number (used 97 banks as sample during quarterly period II of 2013 until quarterly period II of 2015) and the use of Generalized Method of Moment Model to analyze the effect of bank internal factor towards NPL. Based on the analysis result of Generalized Method of Moment, it could be concluded that the level of credit expansion, operational efficiency, credit interest and the percentage of credit with problems in one previous period individually gave positive effect towards NPL. Meanwhile, the percentage of credit with problems in two previous periods gave negative effect towards NPL

Investigating Structural break-GARCH-based Unit root test in US exchange rates

This paper applied a structural break-GARCH-based unit root test in studying the US exchange rates for twenty-two different currencies across America, Europe, Asia-Pacific and Southern Africa. The study employed three different data frequencies – daily, weekly and monthly with a view to understand the dynamics of a high frequency series that is characterized by alternating trend patterns and plausible presence of structural breaks. The chosen sample interval included periods of financial crisis or peculiar events. The exchange rates were found to exhibit ARCH effects at higher lags, thus informing the adaptation of the more parsimonious GARCH process in the residuals in contrast to the white noise disturbance assumption. The non-trended and trended structural break-GARCH-based unit root tests performances were adjudged with other existing tests. With significant break dates, between 2 and 5, the presence or otherwise of a unit root in foreign exchange rate series would be better captured when the inherent heteroscedasticity, trend and structural breaks in foreign exchange rate series are put into consideratio

Investigating Structural break-GARCH-based Unit root test in US exchange rates

This paper applied a structural break-GARCH-based unit root test in studying the US exchange rates for twenty-two different currencies across America, Europe, Asia-Pacific and Southern Africa. The study employed three different data frequencies – daily, weekly and monthly with a view to understand the dynamics of a high frequency series that is characterized by alternating trend patterns and plausible presence of structural breaks. The chosen sample interval included periods of financial crisis or peculiar events. The exchange rates were found to exhibit ARCH effects at higher lags, thus informing the adaptation of the more parsimonious GARCH process in the residuals in contrast to the white noise disturbance assumption. The non-trended and trended structural break-GARCH-based unit root tests performances were adjudged with other existing tests. With significant break dates, between 2 and 5, the presence or otherwise of a unit root in foreign exchange rate series would be better captured when the inherent heteroscedasticity, trend and structural breaks in foreign exchange rate series are put into consideratio

The Costs of Implementing Vaccination With the RTS,S Malaria Vaccine in Five Sub-Saharan African Countries.

Background. The World Health Organization has recommended pilot implementation of a candidate vaccine against malaria (RTS,S/AS01) in selected sub-Saharan African countries. This exploratory study aimed to estimate the costs of implementing RTS,S in Burkina Faso, Ghana, Kenya, Mozambique, and Tanzania. Methods. Key informants of the expanded program on immunization at all levels in each country were interviewed on the resources required for implementing RTS,S for routine vaccination. Unit prices were derived from the same sources or from international price lists. Incremental costs in 2015 US dollars were aggregated per fully vaccinated child (FVC). It was assumed the four vaccine doses were either all delivered at health facilities or the fourth dose was delivered in an outreach setting. Results. The costs per FVC ranged from US$25 (Burkina Faso) to US$37 (Kenya) assuming a vaccine price of US$5 per dose. Across countries, recurrent costs represented the largest share dominated by vaccines (including wastage) and supply costs. Non-recurrent costs varied substantially across countries, mainly because of differences in needs for hiring personnel, in wages, in cold-room space, and equipment. Recent vaccine introductions in the countries may have had an impact on resource availability for a new vaccine implementation. Delivering the fourth dose in outreach settings raised the costs, mostly fuel, per FVC by less than US$1 regardless of the country. Conclusions. This study provides relevant information for donors and decision makers about the cost of implementing RTS,S. Variations within and across countries are important and the unknown future price per dose and wastage rate for this candidate vaccine adds substantially to the uncertainty about the actual costs of implementation

Investigating Predictors of Inflation in Nigeria: BMA and WALS Techniques

The recent economic conundrum arising from the fall in the international oil price has threatened the maintenance of price stability, a key function of the central bank, therefore the need to investigate predictors of inflationary measures arises. The model averaging method considers uncertainty as part of the model selection, and include information from all candidate models. We analysed a wide spectrum of inflation predictors and all the possible models for Nigeria CPI inflation using the Bayesian Model Averaging and Weighted Average Least Squares. The study uses fifty-nine (59) predictor variables cutting across all sectors of the Nigerian economy and three (3) measures of inflation, namely; all items consumer price index, core consumer price index and food consumer price index. The results from both model averaging techniques showed that maximum lending rate, world food price index and Bureau de change exchange rate are the significant drivers of inflationary measures among focus variables, while foreign assets, credit to private sectors, net credit to government and real effective exchange rate are the drivers of inflationary measures, for the auxiliary variables, strongly supporting the monetarist and open economy views on inflation. The structuralist view is reported to be relatively weaker because government expenditure is only significant at 10.0 per cent.

Forecasting Nigerian Inflation using Model Averaging methods: Modelling Frameworks to Central Banks

As a result of the adverse macroeconomic effect of inflation on welfare, fiscal budgeting, trade performance, international competitiveness and the whole economy, inflation still remains a subject of utmost concern and interest to policy makers. The traditional Philips curve as well as other methodologies have been criticized for their inability to track correctly the pattern of inflation, particularly, these models do not allow for enough variables to be included as part of the regressors, and judgment is often made by a single model. In this work, model averaging techniques via Bayesian and frequentist approach were considered. Specifically, we considered the Bayesian model averaging (BMA) and Frequentist model averaging (FMA) techniques to model and forecast future path of CPI inflation in Nigeria using a wide range of variables. The results indicated that both in-sample and out-of-sample forecasts were highly reliable, judging from the various forecast performance criteria. Various policy scenarios conducted were highly fascinating both from the theoretical perspective and the prevailing economic situation in the country

Investigating Predictors of Inflation in Nigeria: BMA and WALS Techniques

The recent economic conundrum arising from the fall in the international oil price has threatened the maintenance of price stability, a key function of the central bank, therefore the need to investigate predictors of inflationary measures arises. The model averaging method considers uncertainty as part of the model selection, and include information from all candidate models. We analysed a wide spectrum of inflation predictors and all the possible models for Nigeria CPI inflation using the Bayesian Model Averaging and Weighted Average Least Squares. The study uses fifty-nine (59) predictor variables cutting across all sectors of the Nigerian economy and three (3) measures of inflation, namely; all items consumer price index, core consumer price index and food consumer price index. The results from both model averaging techniques showed that maximum lending rate, world food price index and Bureau de change exchange rate are the significant drivers of inflationary measures among focus variables, while foreign assets, credit to private sectors, net credit to government and real effective exchange rate are the drivers of inflationary measures, for the auxiliary variables, strongly supporting the monetarist and open economy views on inflation. The structuralist view is reported to be relatively weaker because government expenditure is only significant at 10.0 per cent.