IN VITRO ABSORPTION STUDY OF CARBAMAZEPINE SOLID DISPERSION USING EVERTED GUT SAC METHOD

The oral Bioavailability of BCS (Bio Pharmaceutical Classification System) class II drug with poor solubility and reasonable permeability is limited by drug dissolution. In order to improve the aqueous solubility of the drug and dissolution of thedrug, the solid dispersion was prepared and evaluated for its absorption in intestine using modified everted gut sac method. The solid dispersion of carbamezepine (CBZ) was prepared using polaxomer and guargum by kneading method. The CBZ and CBZSD (Solid Disposisi) shows 2.329% and 3.948% drug absorption, respectively. The data show that solid dispersion increase the absorption of the CBZ in CBZ-SD is more than 70% in comparison to pure CBZ. The increase in CBZ solubility of the SD could be attributed to several factors such as improved wettability, local solubilization, drug particle size reduction and crystalline or, interstitial solid solution reduction. Key words: Everted gut sac method, solid dispersion, absorption, solubilit

The Development of Local Debt Markets in Asia: An Assessment

The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities

The Development of Local Debt Markets in Asia : An Assessment

The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.Debt markets, Asia, financial markets

An Analysis of Money Demand and Inflation in the Islamic Republic of Iran

This study examines money demand and inflation dynamics in the Islamic Republic of Iran using quarterly data for the period 1990/91-2001/02 and tests whether the disinflation during 2000/01-2001/02 represents a structural break in the data. A long-run money market equilibrium condition is identified and the short-run behavior of the inflation, measured in terms of non-administered component of the consumer price index (CPI) is modeled conditional on the disequilibria in the money market. Estimation results indicate that the stabilization of the exchange rate on account of strong oil revenues during 2000/01-2001/02 buoyed the demand for domestic money and contributed to the decline in inflation. Tests of model stability do not point to a structural shift in the inflation equation during the period of analysis.Iran;inflation, money market, money supply, money demand, inflation rate, inflation dynamics, foreign exchange, real money, monetary balances, money stock, inflation equation, monetary fund, rate of inflation, foreign currency, change in inflation, inflationary expectations, price level, real money supply, monetary phenomenon, aggregate demand, inflationary impact, real output, monetary expansion, relative price, effect of inflation, high inflation, monetary growth, low inflation, real value, rates of inflation, price inflation, macroeconomic stability, inflationary consequences, monetary policies, real rates, relative prices, money growth, inflationary pressures, demand for money, inflation money, nominal interest rates, macroeconomic analysis

An Investigation of Some Macro-Financial Linkages of Securitization

Policy-makers have attributed the scale of the credit crisis and its profound impact on money markets (as well as financial sector stability) to the fast rise of securitization and the way it has arguably complicated both the conduct of monetary policy and the effect of interest rate transmission to the real economy. In our study, we examine whether financial innovation, specifically through securitization, has altered the nature of some macro-financial linkages, often with considerable policy implications. We find that securitization activity in the United States (mature market) and South Africa (emerging market) has indeed dampened the interest rate elasticity of real output via the balance sheet channel (while decreasing the interest rate pass-through from policy rates to market rates). That being said, current reservations about securitization do not invalidate the fact that securitization activity helps cushion the immediate impact of interest rate shocks to loan origination, which might be particularly effective in EM countries where poorly developed capital markets provide few alternatives to bank lending.Money markets;Market interest rates;Emerging markets;Economic models;securitization, mortgage, capital market, capital markets, mortgages, mortgage market, mortgage loans, mortgage rates, home mortgages, mortgage-backed securities, secondary mortgage, mortgage interest, secondary mortgage market, home loans, asset securitization, credit rationing, mortgage credit, local capital market, cost of capital, mortgage interest rates, mortgage rate, residential mortgage, mortgage lenders, mortgage markets, residential mortgages, mortgage interest rate, capital market finance, securities industry, local capital markets, capital market development, credit expansion, mortgage default, mortgage bank, capital market instruments, mortgage lending, capital needs, housing credit, collateralized mortgage obligations, capital flow, investor confidence, primary mortgage market, hedging, portfolio of mortgage, capital market reforms, liquidity of mortgage, excess liquidity, mortgage originator, credit rating, hedge funds, securities markets, secondary mortgage markets, capital structure, inflation rate, credit market, mortgage obligations

Interest Rate Determination in Lebanon

This paper seeks to understand how interest rates are formed in Lebanon, by focusing on the pass-through from benchmark rates, prevailing liquidity conditions, and the main characteristics of the Lebanese economy, notably its open capital account, fixed exchange rate, high government borrowing requirement, large public debt, and high degree of deposit dollarization. We find that international interest rates are an important element in the determination of interest rates in Lebanon. In particular, the pass-through of global benchmark rates to interest rates on sovereign bonds is about 70 percent. The less-than-complete pass-through could be attributed to a home-bias effect reflecting a relatively stable and dedicated investor base. The study also shows that interest rates in Lebanon are affected by liquidity conditions as well as perceived sovereign risk.Interest rates;Domestic liquidity;Financial risk;Risk premium;eurobonds, international reserves, deposit rates, eurobond, eurobond yields, international interest rates, interest rate policy, domestic interest rates, eurobond yield, deposit interest, lead, domestic-currency, bonds, financial contracts, financial market, sovereign bond, currency risk, bond, derivatives markets, borrowing interest rates, financial assets, deposit growth, bond rates

IN VITRO ABSORPTION STUDY OF CARBAMAZEPINE SOLID DISPERSION USING EVERTED GUT SAC METHOD

The oral Bioavailability of BCS (Bio Pharmaceutical Classification System) class II drug with poor solubility and reasonable permeability is limited by drug dissolution. In order to improve the aqueous solubility of the drug and dissolution of thedrug, the solid dispersion was prepared and evaluated for its absorption in intestine using modified everted gut sac method. The solid dispersion of carbamezepine (CBZ) was prepared using polaxomer and guargum by kneading method. The CBZ and CBZSD (Solid Disposisi) shows 2.329% and 3.948% drug absorption, respectively. The data show that solid dispersion increase the absorption of the CBZ in CBZ-SD is more than 70% in comparison to pure CBZ. The increase in CBZ solubility of the SD could be attributed to several factors such as improved wettability, local solubilization, drug particle size reduction and crystalline or, interstitial solid solution reduction

Asean Bond Market Development

Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they were a decade before. How can we explain this? And does this mean that domestic markets have not, in fact, developed? The paper argues that bond market growth has been held back by a sharp fall in investment rates, which has left firms with little need for bond borrowing. Even so, markets have developed in other ways, to such an extent that substantial amounts of foreign portfolio investment have begun to flow into ASEAN5 bonds. These developments have important ramifications. With the investor base growing and infrastructure investment likely to rise, ASEAN5 bond markets could expand rapidly over the next decade, holding out the prospect that the region could finally achieve "twin engine" financial systems.Asia;Bonds;Borrowing;Corporate sector;bond, bond markets, bond market, hedge funds, corporate bond, bond issuance, corporate bonds, capital inflows, domestic bond markets, government bonds, corporate bond markets, domestic bonds, hedge, financial system, capital markets, corporate bond market, domestic bond, bond yields, government bond, market assets, bond market development, government bond markets, financial systems, financial institutions, local currency bond, local currency bond markets, debt securities, financial markets, bond issues, bond funds, asian bond markets, government bond market, government bond yields, risk aversion, stock exchanges, developing bond markets, portfolio investment, domestic financial institutions, financial stability, corporate bond issuance, capital adequacy, foreign bonds, capital mobility, debt stock, capital formation, capital market, development of corporate bond markets, macro hedge, derivative, global bond, financial sector, bond flows, dollar bonds, equity investments, national stock exchanges, domestic bond market, composition of capital inflows, islamic bond, islamic bond market, market bond, hedging, equity finance, international bonds, foreign capital, cost of capital, capital account liberalization, international financial statistics, corporate securities, dollar bond market, bond purchases, bond financing, developing government bond, domestic financial sector, capital accounts, financial assets, emerging market bond, compliant bonds, bond stocks, foreign bond, bond market growth, volatile capital, denominated bonds, hedging instruments, conventional bonds, capital flow volatility, global bonds, hedge fund, derivative instruments, local bond markets, securities transactions, currency mismatch, capital gains tax, aggregate bond index, term bond, capital controls, foreign portfolio investment, financial economics, developing government bond markets, local capital markets, local bond, foreign exchange derivatives, bond maturities, bond price, asian bond market, new securities, dollar bond, financial instruments, capital flows, domestic government bonds, bond contracts, domestic financial system, islamic bonds, money market, bond indices, domestic securities, bond investors, equity markets, interest rate derivatives, financial fragility, gross capital formation, capital flow, developing bond market, macro hedge funds, net capital, capital gains, derivatives transactions, bond index, emerging market bonds, mature markets, bond flow, stock adjustment