Testing PPP for the South African rand/US dollar real exchange rate at different frequencies

This paper tests the PPP hypothesis for the South African rand/ US dollar real exchange rate using a fractional integration framework. The results suggest that the real exchange rate of the South African rand with respect to the US dollar is a highly dependent variable with an order of integration very close to 1. This finding is not affected by the data frequency considered (daily, weekly or monthly). Also, there appears to be a single break in December 2001 (possibly corresponding to a change in the monetary policy framework), with the unit root null being rejected in favour of d > 1 for the periods before the break, but not afterwards. Thus, our results strongly reject the PPP hypothesis for the South African rand / US dollar rate across data frequencies, since shocks are found to affect the exchange rate forever.The second-named author gratefully acknowledges financial support from the Ministerio de Ciencia y Tecnología (ECO2008-2011 (03035/28196) ECON Y FINANZAS, Spain)

An evaluation of basic life support training among medical students in Southwest Nigeria: A web-based study

Background: Basic Life Support (BLS) is considered a lifesaving measure and sound knowledge is expected among health professionals. Studies conducted among medical doctors and students in many developing countries show deficiencies in knowledge and practice of essential BLS skills. This study assessed the awareness, knowledge, perception, practice, accessibility and barriers to BLS training amongst medical students in South-Western Nigeria, exposing skill gaps and training challenges to inform appropriate solutions. Methods: This was a cross-sectional descriptive e-survey involving 2nd – 6th year medical students enrolled in 12 regional medical schools. Overall, 553 responses were received over a 3-month period from November 2020 to January 2021 and analyzed using IBM-SPSS 26. Results: Of the 553 respondents, 79.2% were aware of BLS however only 160 (29%) respondents had good knowledge of BLS principles. Increasing age, higher level of study, prior BLS training and being enrolled in College of Medicine, University of Lagos (CMUL) were significantly associated with a higher knowledge score (p<0.05). Majority (99.5%) considered BLS training necessary however, only 51.3% had prior training. Increased level of study correlated with prior BLS training (p<0.05) alongside higher BLS uptake by respondents from CMUL (26.7%) and College of Medicine, University of Ibadan (20.9%) compared to respondents from other schools (p<0.05). Only 35.4% had ever done Cardiopulmonary Resuscitation. Most respondents reported no confidence in performing BLS (67.1%) or in using an Automated External Defibrillator (85.7%). Unavailability of training opportunities in state (35%), town (42%) and cost (27%) were major barriers to BLS training identified. Conclusion: Despite a high level of awareness of BLS training, knowledge of BLS principles and its practice is poor among Nigerian medical students, reflecting a need to integrate stand-alone/structured BLS trainings into the medical curriculum to increase participation and accessibility by medical students

Clinicopathological evaluation of Newcastle disease virus vaccination using gums from Cedrela odorata and Khaya senegalensis as delivery agents in challenged chickens

Following previous studies on delivery potential and immune response of chickens given Newcastle disease vaccine with gums, this study was conducted to evaluate the protective ability of vaccines delivered with plant gums against clinicopathological features of Newcastle disease (ND). Processed gums from incised trunks of Cedrela odorata and Khaya senegalensis trees were combined with ND vaccine in ratio 2:2:1 and administered at 21 days to white leghorn cockerels after weaning of maternal antibodies. The birds were grouped into gum-vaccine-oral (GVOR), vaccine-oral (VOR), gum-vaccine-ocular (GVOC), vaccine-ocular (VOC), gum-oral (GOR), gum-ocular (GOC), no-gum-no-vaccine/challenged (NGNV/C), no-gum-no-vaccine/unchallenged (NGNV/U). Vaccination was boosted with the same preparation at day 42 while birds were challenged with live ND virus (KUDU strain) at day 84. Clinical signs (Dullness, Diarrhoea, Paralysis, Torticollis) Post infection (Pi), terminal weakness, gross and histology lesions were scored on a severity scale from absent (0-), mild (1+) to moderate (2+) and severe (3+). Scores were assigned a quantitative score of 0, 10, 20, 30 respectively. Clinical signs scores for the 5 week Pi were subjected to Friedman test to assess the significance of severity among the groups. The test was significant at 1% significance level which implies that the clinical signs ranked highest in the NGNV/C, followed by the Gum alone groups, the vaccine alone groups and the gum-vaccine groups irrespective of route. Moribund birds subsequently euthanized were seen in the GOR and GOC group at 21% each and at 57% in NGNV/C group alone. No signs were seen in the NVNG/U group. Grossly, mild to moderate lesions were seen in all groups except GVOR and NGNV/U. At histology, pulmonary congestion, acute pneumonia, cecal tonsilar haemorrhages, gliosis and neuronophagia were present at different proportions in all groups except the GVOR and NGNV/U. Overall, lesion severity was least in the gum-vaccine groups while the oral groups had less lesion score compared to the ocular. From this study, phytogenic mucoadhesives polymers used hold immense potential as a delivery agent capable of improving protection against clinicopathologic features of Newcastle disease in previously vaccinated birds. Keywords: Vaccines, Chickens, Mucoadhesives, Gums, Newcastle disease, Patholog

ON THE RAND: DETERMINANTS OF THE SOUTH AFRICAN EXCHANGE RATE

This paper is an econometric investigation of the determinants of the real value of the South African rand over the period 1984-2007. The results show a relatively good fit. As always with exchange rate equations, there is substantial weight on the lagged exchange rate, which can be attributed to a momentum component. Nevertheless, economic fundamentals are significant and important. This is especially true of an index of the real prices of South African mineral commodities, which even drives out real income as a significant determinant. An implication is that the 2003-2006 real appreciation of the rand can be attributed to the Dutch Disease. In other respects, the rand behaves like currencies of industrialised countries with well-developed financial markets. In particular, high South African interest rates raise international demand for the rand and lead to real appreciation, controlling also for a forward-looking measure of expected inflation and a measure of default risk or country risk. Copyright (c) 2007 The Author; Journal compilation (c) 2007 Economic Society of South Africa.