Three Essays on Financial Inclusion

This thesis comprises three empirical studies. The first study assesses the multidimensional concept of financial inclusion with an objective to segregate the key determinants, from a range of potential influencing factors. Using a large cross-country sample of developing countries, over a 14-year period from 2004 to 2017, findings suggest that physical access to banking services, advances in financial technology, government effectiveness and rural population are significantly associated with financial inclusion and should be the principal focus of policy initiatives. Sub-sample analysis shows considerable differences in the key determining factors of financial inclusion across six regions and three income groups. The second study empirically investigates the complex relationship between financial inclusion and financial stability for the period and sample considered in the first study, by employing Instrumental Variables Two Stage Least Squares (IV 2SLS) estimation and Difference-in-Differences (DID) methods. Results show that financial inclusion has a significant positive impact on financial stability. Also, countries that actively implement policies to promote financial inclusion experience an enhanced positive impact on stability, as compared to other countries. The third study constructs a Financial Inclusion Index (FII) for 23 Indian states over a 44-year period and then uses the composite measure to examine the impact of financial inclusion on economic growth. Unconditional Quantile Regression (UQR) estimates reveal a positive impact of inclusion on growth, with richer states in the west and the south benefitting more in terms of higher income caused by a higher level of financial inclusion than the poorer states in the north and the east, thus widening the income gap. While, liberalisation augments the financial inclusion induced income inequality, the proportion of the rural population reduces it.Scholarship from the Faculty of Management, Law and Social Science

Urinary biomarkers and integrated genomics in bladder cancer

© 2015 Dr. Nikhil SapreMuch remains to be elucidated regarding the molecular mechanisms driving urothelial carcinoma of the bladder (CaB). While comprehensive molecular analyses of several other cancers such as melanoma and breast cancer have led to the development of targeted therapies that have fundamentally changed treatment paradigms, there has been little progress in CaB in this arena. As a result, CaB outcomes have not improved in over three decades. Despite extensive efforts, a sensitive and specific non-invasive marker for CaB remains elusive. CaB diagnosis and surveillance are reliant on imaging and invasive procedures such as cystoscopy. Consequently, it is the single most expensive cancer to manage per incident case from diagnosis to death. After reviewing the molecular pathways and the landscape of urinary biomarker profiling in CaB, this thesis highlights the move towards profiling of genomic urinary biomarkers over proteomic and cell-based biomarkers and emphasises the need for a comprehensive and integrated approach to molecular profiling of CaB. It focuses on the role of genomic urinary biomarkers in surveillance of bladder cancer as well as comprehensive genetic and epigenetic profiling of CaB. The establishment of a robust platform for translational research and clinical trials in CaB in the setting of a novel bladder cancer clinical service is presented in these studies. The ability of CaB to recur over a long period of time and the impact of prolonged surveillance protocols on the quality of life of CaB patients further highlights the need for urgent development of clinically useful urinary and tissue biomarkers to predict disease behaviour in what is a very heterogeneous cancer. The integrated CaB service and its use as a platform for fast-tracking such translational studies is highlighted, bridging the gap from bench to bedside. The development and validation of a urinary microRNA signature for the detection of CaB recurrence during surveillance is presented. This thesis presents the outcomes of the first clinical trial of a new commercial mRNA-based urinary test uRNA-2 (Cxbladder) in the surveillance of CaB and highlights the challenges in integrating urinary biomarkers in the clinical management of CaB. Also highlighted are important genes and pathways across the progressive spectrum of CaB, both validating several aspects of current models and drawing attention to novel pathways. The value of a multidimensional analysis is evident when epigenetically driven changes in gene expression are identified and validated. In summary, this thesis reports the establishment of a bladder cancer biorepository with clinically annotated tissues and the subsequent use of this platform for development and validation of urinary biomarkers in CaB and a comprehensive molecular analysis of CaB. These studies represent an important step towards use of urinary and tissue biomarkers to predict bladder cancer behaviour and their use in a clinical setting

Revisiting the Expected Utility Theory and the Consumption CAPM

The concept of utility is the core component of many foundational theories in social sciences. It has evolved from a philosophical belief that people seek happiness and satisfaction to a mathematically derived theory in economics and finance. Beginning with a brief review of the developments in the Expected Utility Theory (EUT) and its applicability in equity pricing, this paper includes a critical appraisal of relevant theoretical and empirical studies from the fields of financial economics and behavioural studies, with a particular focus on the the Consumption Capital Asset Pricing Model (CCAPM)

Financial Inclusion

Financial exclusion is a global issue but differs across different countries: in low-income countries, the key focus is lack of access to basic banking and payment services; in higher-income countries, the focus is more on access to credit, savings, insurance and financial advice

Circulating MicroRNAs as Biomarkers of Prostate Cancer: The State of Play

MicroRNAs are key regulators of gene expression and play critical roles in both normal physiology and pathology. Recent research has demonstrated that these molecules are present in body fluids, such as serum, plasma, and urine, and can be readily measured using a variety of techniques. More importantly, emerging evidence suggests that circulating or urine miRNAs are useful indicators of disease. Here, we consider the potential utility of such miRNAs as noninvasive biomarkers of prostate cancer, a disease that would benefit substantially from novel diagnostic and prognostic tools. The studies aimed at identifying diagnostic, prognostic, and/or predictive miRNAs for prostate cancer are summarised and reviewed. Finally, practical considerations that will influence the translation of this recent research into clinical implementation are discussed

An Insight into the Importance of Requirements Engineering

When developing a software, one of the most important aspects for success of any software project is to get the requirements right. The success of any software project depends on the quality of the requirements. As the projects change over the time, we try to study the requirement process in different type of projects focusing on classical, web-based and open source projects. The requirements dictate all other software engineering processes which in turn influence the Productivity, Quality and Risk. The requirements engineering steers the whole process of the software development to develop the right software. Requirements engineering not only helps the various software process teams but also helps the management to meet the constraints of cost, time and resources. Also requirements can help us to trace the quality of the software product