Does Trade Openness Affect Bank Risk-Taking Behavior? Evidence from BRICS Countries

In this paper, we examine the impact of trade openness on bank risk-taking behavior employing a panel dataset of 899 banks from the BRICS (i.e., Brazil, Russia, India, China, and South Africa) countries over the period 2000–2017. We find that higher trade openness lowers bank risk-taking. Our results are robust when we use alternative proxies of trade openness and bank risk-taking, estimate country-wise regressions, or use alternative estimation methods such as system Generalized Methods of Moments (GMM), fixed effects, pooled Ordinary Least Square (OLS), and Vector Error Correction Model (VECM) models. We also observe higher trade openness decreases bank risk-taking in both the short and long run. Moreover, banks in more open countries perform relatively better during the crisis period further signifying the diversification benefits of openness. Together, our findings imply the beneficial impact of trade openness for financial sector stability

Trouble with the Lorentz law of force: Incompatibility with special relativity and momentum conservation

The Lorentz law of force is the fifth pillar of classical electrodynamics, the other four being Maxwell's macroscopic equations. The Lorentz law is the universal expression of the force exerted by electromagnetic fields on a volume containing a distribution of electrical charges and currents. If electric and magnetic dipoles also happen to be present in a material medium, they are traditionally treated by expressing the corresponding polarization and magnetization distributions in terms of bound-charge and bound-current densities, which are subsequently added to free-charge and free-current densities, respectively. In this way, Maxwell's macroscopic equations are reduced to his microscopic equations, and the Lorentz law is expected to provide a precise expression of the electromagnetic force density on material bodies at all points in space and time. This paper presents incontrovertible theoretical evidence of the incompatibility of the Lorentz law with the fundamental tenets of special relativity. We argue that the Lorentz law must be abandoned in favor of a more general expression of the electromagnetic force density, such as the one discovered by A. Einstein and J. Laub in 1908. Not only is the Einstein-Laub formula consistent with special relativity, it also solves the long-standing problem of "hidden momentum" in classical electrodynamics.Comment: 7 pages, 1 figur

Dirac Quantization Condition for Monopole in Noncommutative Space-Time

Since the structure of space-time at very short distances is believed to get modified possibly due to noncommutativity effects and as the Dirac Quantization Condition (DQC), $\mu e = \frac{N}{2}\hbar c$, probes the magnetic field point singularity, a natural question arises whether the same condition will still survive. We show that the DQC on a noncommutative space in a model of dynamical noncommutative quantum mechanics remains the same as in the commutative case to first order in the noncommutativity parameter $\theta$, leading to the conjecture that the condition will not alter in higher orders.Comment: 11 page

Effect of Ispaghula and Oxyphenonium Bromide on the Symptoms of Irritable Bowel Syndrome - A Comparative Study

Background: Irritable bowel syndrome is a chronic continuous or remittent gastrointestinal illness characterized byfrequent unexplained symptoms that include abdominal pain, bloating, and bowel disturbance, in our country, no studyhas been conducted using the Ispaghula husk and oxyphenonium bromide for the treatment of IBS patients. Objectives:To compare the efficacy of treatment with Ispaghula husk and Oxyphenonium bromide. Methods: Total sixty patientsdiagnosed clinically as irritable bowel syndrome irrespective of subtype who fulfilled the Rome II criteria were includedequally into two groups-Group-I (Ispaghula group) & Group-II (Oxyphenonium group). In Group-I patients were given30gm of Ispaghula husk at night daily and in Group-II patients were given 5mg of oxyphenonium bromide. After sixweeks the clinical parameters of both the groups recorded in the case record forms were taken for analysis. Results: Themean age of the patients in the Group- I were 33.4±11.9 yrs and that of the patients in the Group-II were 31.0±17.5 yrs.Male and female ratio in group I was 14:1 and in group II was 23:7. Most of the patients were recorded in the age groupof 26-30 in both groups. Symptom free patients were graded in 16.7% patients in Group-I and in 20% patients in Group-II. No improvement was occurred in 16.7% patients in Group-I and in 10% patients in Group-II. Conclusions: Ispaghulahusk shows the better efficacy to improve the symptoms of IBS like abdominal pain or discomfort and sense of well beingthan Oxyphenonium bromide. Oxephenonium bromide shows the better efficacy to decrease the stool frequency frombase line than Ispaghula husk.DOI: 10.3329/bsmmuj.v3i1.5506BSMMU J 2010; 3(1): 3-

Statistics of non-linear stochastic dynamical systems under L\'evy noises by a convolution quadrature approach

This paper describes a novel numerical approach to find the statistics of the non-stationary response of scalar non-linear systems excited by L\'evy white noises. The proposed numerical procedure relies on the introduction of an integral transform of Wiener-Hopf type into the equation governing the characteristic function. Once this equation is rewritten as partial integro-differential equation, it is then solved by applying the method of convolution quadrature originally proposed by Lubich, here extended to deal with this particular integral transform. The proposed approach is relevant for two reasons: 1) Statistics of systems with several different drift terms can be handled in an efficient way, independently from the kind of white noise; 2) The particular form of Wiener-Hopf integral transform and its numerical evaluation, both introduced in this study, are generalizations of fractional integro-differential operators of potential type and Gr\"unwald-Letnikov fractional derivatives, respectively.Comment: 20 pages, 5 figure

Engaged Reading: Moving from Theory to Implication for L2 Learners

There have been a good number of research studies on ‘engaged reading’ in general but not much literature is known about the ‘engaged reading’ that makes connections between theory and practice with special reference to ESL/EFL teachers. Hence, this paper aims to examine the efficacy of engaged reading and shows how it can be facilitated through mass awareness among the ESL or EFL teachers. Teachers’ adequate knowledge and perception about engaged reading can only ensure the implementation of it as a means of learning by owning the language thus creating a real attachment to it. This article uses a qualitative research method that exclusively uses the relevant secondary references/works available on the topic. The literature revealed that attitudes and strategy instruction of teachers in the classroom play a significant role in terms of increasing the learners’ motivation for reading with interest and their reading engagement for better academic achievement. The paper finally demonstrates how teachers with the best of their potential and concentration can immensely contribute to the growth of a reader to be an engaged reader

Vacuum Polarization and Dynamical Chiral Symmetry Breaking: Phase Diagram of QED with Four-Fermion Contact Interaction

We study chiral symmetry breaking for fundamental charged fermions coupled electromagnetically to photons with the inclusion of four-fermion contact self-interaction term. We employ multiplicatively renormalizable models for the photon dressing function and the electron-photon vertex which minimally ensures mass anomalous dimension = 1. Vacuum polarization screens the interaction strength. Consequently, the pattern of dynamical mass generation for fermions is characterized by a critical number of massless fermion flavors above which chiral symmetry is restored. This effect is in diametrical opposition to the existence of criticality for the minimum interaction strength necessary to break chiral symmetry dynamically. The presence of virtual fermions dictates the nature of phase transition. Miransky scaling laws for the electromagnetic interaction strength and the four-fermion coupling, observed for quenched QED, are replaced by a mean-field power law behavior corresponding to a second order phase transition. These results are derived analytically by employing the bifurcation analysis, and are later confirmed numerically by solving the original non-linearized gap equation. A three dimensional critical surface is drawn to clearly depict the interplay of the relative strengths of interactions and number of flavors to separate the two phases. We also compute the beta-function and observe that it has ultraviolet fixed point. The power law part of the momentum dependence, describing the mass function, reproduces the quenched limit trivially. We also comment on the continuum limit and the triviality of QED.Comment: 9 pages, 10 figure

Proceedings of the Rank Forum on Vitamin D

The Rank Forum on Vitamin D was held on 2nd and 3rd July 2009 at the University of Surrey, Guildford, UK. The workshop consisted of a series of scene-setting presentations to address the current issues and challenges concerning vitamin D and health, and included an open discussion focusing on the identification of the concentrations of serum 25-hydroxyvitamin D (25(OH)D) (a marker of vitamin D status) that may be regarded as optimal, and the implications this process may have in the setting of future dietary reference values for vitamin D in the UK. The Forum was in agreement with the fact that it is desirable for all of the population to have a serum 25(OH)D concentration above 25 nmol/l, but it discussed some uncertainty about the strength of evidence for the need to aim for substantially higher concentrations (25(OH)D concentrations . 75 nmol/l). Any discussion of ‘optimal’ concentration of serum 25(OH)D needs to define ‘optimal’ with care since it is important to consider the normal distribution of requirements and the vitamin D needs for a wide range of outcomes. Current UK reference values concentrate on the requirements of particular subgroups of the population; this differs from the approaches used in other European countries where a wider range of age groups tend to be covered. With the re-emergence of rickets and the public health burden of low vitamin D status being already apparent, there is a need for urgent action from policy makers and risk managers. The Forum highlighted concerns regarding the failure of implementation of existing strategies in the UK for achieving current vitamin D recommendations

Meson-Meson Scattering in the Quark Model: Spin Dependence and Exotic Channels

We apply a quark interchange model to spin-dependent and exotic meson-meson scattering. The model includes the complete set of standard quark model forces, including OGE spin-orbit and tensor and scalar confinement spin-orbit. Scattering amplitudes derived assuming SHO and Coulomb plus linear plus hyperfine meson wavefunctions are compared. In I=2 pi pi we find approximate agreement with the S-wave phase shift from threshold to 1.5 GeV, where we predict an extremum that is supported by the data. Near threshold we find rapid energy dependence that may reconcile theoretical estimates of small scattering lengths with experimental indications of larger ones based on extrapolation of measurements at moderate kpi^2. In PsV scattering we find that the quark-quark L*S and T forces map into L*S and T meson-meson interactions, and the P-wave L*S force is large. Finally we consider scattering in J^PC-exotic channels, and note that some of the Deck effect mechanisms suggested as possible nonresonant origins of the pi_1(1400) signal are not viable in this model.Comment: 51 pages, 10 figures, uses epsf.sty epsfig.st