Critical Evaluation of Cross-Border Infrastructure Projects in Asia

This paper attempts to fill gaps faced by policymakers and practitioners in the evaluation of cross-border infrastructure projects. It first defines what constitutes cross-border infrastructure projects, and then outlines an analytical framework and criteria to evaluate them. The criteria identify additionalities and externalities specific to cross-border infrastructure projects that need to be stressed in covering broader and indirect impacts that are not usually captured in the analysis of national projects. Then the paper examines to what extent the defined criteria are applicable in evaluating recent cross-border infrastructure projects. It also reports on emerging impacts patterns evidenced in relevant studies. The paper draws lessons and implications for design and implementation of cross-border infrastructure projects.asian infrastructure projects design implementation; asian trade costs; economic analysis infrastructure projects

Universal monomer dynamics of a two dimensional semi-flexible chain

We present a unified scaling theory for the dynamics of monomers for dilute solutions of semiflexible polymers under good solvent conditions in the free draining limit. Our theory encompasses the well-known regimes of mean square displacements (MSDs) of stiff chains growing like t^{3/4} with time due to bending motions, and the Rouse-like regime t^{2 \nu / (1+ 2\nu)} where \nu is the Flory exponent describing the radius R of a swollen flexible coil. We identify how the prefactors of these laws scale with the persistence length l_p, and show that a crossover from stiff to flexible behavior occurs at a MSD of order l^2_p (at a time proportional to l^3_p). A second crossover (to diffusive motion) occurs when the MSD is of order R^2. Large scale Molecular Dynamics simulations of a bead-spring model with a bond bending potential (allowing to vary l_p from 1 to 200 Lennard-Jones units) provide compelling evidence for the theory, in D=2 dimensions where \nu=3/4. Our results should be valuable for understanding the dynamics of DNA (and other semiflexible biopolymers) adsorbed on substrates.Comment: 4-page paper with 5 figures. 3-page supplemental information with 3 figure

Critical evaluation of cross-border infrastructure projects in Asia

This paper attempts to fill gaps faced by policymakers and practitioners in the evaluation of cross-border infrastructure projects. It first defines what constitutes cross-border infrastructure projects, and then outlines an analytical framework and criteria to evaluate them. The criteria identify additionalities and externalities specific to cross-border infrastructure projects that need to be stressed in covering broader and indirect impacts that are not usually captured in the analysis of national projects. Then the paper examines to what extent the defined criteria are applicable in evaluating recent cross-border infrastructure projects. It also reports on emerging impacts patterns evidenced in relevant studies. The paper draws lessons and implications for design and implementation of cross-border infrastructure projects

Two Essays in Finance: “Selection Biases and Long-run Abnormal Returns” And “The Impact of Financialization on the Benefits of Incorporating Commodity Futures in Actively Managed Portfolios”

This dissertation consists of two essays. First essay investigates the implications of researcher data requirement on the risk-adjusted returns of firms. Using the monthly CRSP data from 1925 to 2013, we present evidence that firms which survive longer have higher average returns and lower standard deviation of annualized returns than the firms which do not. I further demonstrate that there is a positive relation between firms’ survival and average performance. In order to account for the positive correlation between survival and average performance, I model the relation of survival and pricing errors using a Farlie-Gumbel-Morgenstern joint distribution function and fit resulting the moment conditions to the data. Our results show that even a low correlation between firm survival time and pricing errors can lead to a much higher correlation between the survival time and average pricing errors. Failure to adjust for this data selection biases can result in over/under estimates of abnormal returns by 5.73 % in studies that require at least five years of returns data. Second essay examines diversification benefits of commodity futures portfolios in the light of the rapid increase in investor participation in commodity futures market since 2000. Many actively managed portfolios outperform traditional buy and hold portfolios for the sample period from January, 1986 to October, 2013. The evidence documented through traditional intersection test and stochastic discount factor based spanning test indicates that financializaiton has reduced segmentation of commodity market with equity and bond market and has increased the riskiness of investing in commodity futures markets. However, diversifying property of commodity portfolios have not disappeared despite the increased correlation between commodity portfolios returns and equity index returns

Two Essays in Finance: “Selection Biases and Long-run Abnormal Returns” And “The Impact of Financialization on the Benefits of Incorporating Commodity Futures in Actively Managed Portfolios”

This dissertation consists of two essays. First essay investigates the implications of researcher data requirement on the risk-adjusted returns of firms. Using the monthly CRSP data from 1925 to 2013, we present evidence that firms which survive longer have higher average returns and lower standard deviation of annualized returns than the firms which do not. I further demonstrate that there is a positive relation between firms’ survival and average performance. In order to account for the positive correlation between survival and average performance, I model the relation of survival and pricing errors using a Farlie-Gumbel-Morgenstern joint distribution function and fit resulting the moment conditions to the data. Our results show that even a low correlation between firm survival time and pricing errors can lead to a much higher correlation between the survival time and average pricing errors. Failure to adjust for this data selection biases can result in over/under estimates of abnormal returns by 5.73 % in studies that require at least five years of returns data. Second essay examines diversification benefits of commodity futures portfolios in the light of the rapid increase in investor participation in commodity futures market since 2000. Many actively managed portfolios outperform traditional buy and hold portfolios for the sample period from January, 1986 to October, 2013. The evidence documented through traditional intersection test and stochastic discount factor based spanning test indicates that financializaiton has reduced segmentation of commodity market with equity and bond market and has increased the riskiness of investing in commodity futures markets. However, diversifying property of commodity portfolios have not disappeared despite the increased correlation between commodity portfolios returns and equity index returns

Study of Charge Transport Mechanism in Microbial Nanowires

Conductivity of an individual proteinaceous filaments, called pili or microbial nanowires, produced by wild type Geobacter sulfurreducens was measured using a low-noise electrical transport technique. It was shown that the conductivity is diminished if aromatic amino acid residues are removed from the pili. It was demonstrated that the conductivity of G. sulfurreducens pili is similar to that of synthetic organic polymers and is related to the respiration rate of the bacteria. Conductivity measurements were performed on microbial nanowires produced by other species of Geobacter with a different aromatic amino acid distribution along the wire. Also, measurements on a mutated pili with a higher aromatic residue content is presented. All these studies consistently demonstrated that the aromatic amino acid residues are essential for making conduction along microbial nanowires possible. Optical studies involving UV-Vis spectroscopy and X-ray diffraction of G. sulfurreducens and aromatic residue rich mutant pili are also presented. Denaturation vi of cytochromes was observed by lowering pH of the pili solution, implying that it is the pili themselves and not cytochromes attached to them, which are essential for conduction. The optical band gap of wild type pili with different doping level is discussed. Band gap narrowing with increasing doping level was observed. Finally, conductance tuning of wild type pili with field gating is also presented and possible transport mechanism, which can be inferred based on well established free-electron system, is discussed

Determinants of institutional delivery among young married women in Nepal: Evidence from the Nepal Demographic and Health Survey, 2011

OBJECTIVES: To identify the determinants of institutional delivery among young married women in Nepal. DESIGN: Nepal Demographic and Health Survey (NDHS) data sets 2011 were analysed. Bivariate and multivariate logistic regression analyses were performed using a subset of 1662 ever-married young women (aged 15-24 years). OUTCOME MEASURE: Place of delivery. RESULTS: The rate of institutional delivery among young married women was 46%, which is higher than the national average (35%) among all women of reproductive age. Young women who had more than four antenatal care (ANC) visits were three times more likely to deliver in a health institution compared with women who had no antenatal care visit (OR: 3.05; 95% CI: 2.40 to 3.87). The probability of delivering in an institution was 69% higher among young urban women than among young women who lived in rural areas. Young women who had secondary or above secondary level education were 1.63 times more likely to choose institutional delivery than young women who had no formal education (OR: 1.626; 95% CI: 1.171 to 2.258). Lower use of a health institution for delivery was also observed among poor young women. Results showed that wealthy young women were 2.12 times more likely to deliver their child in an institution compared with poor young women (OR: 2.107; 95% CI: 1.53 to 2.898). Other factors such as the age of the young woman, religion, ethnicity, and ecological zone were also associated with institutional delivery. CONCLUSIONS: Maternal health programs should be designed to encourage young women to receive adequate ANC (at least four visits). Moreover, health programs should target poor, less educated, rural, young women who live in mountain regions, are of Janajati ethnicity and have at least one child as such women are less likely to choose institutional delivery in Nepal

Cobalamin and folate status in 6 to 35 months old children presenting with acute diarrhea in Bhaktapur, Nepal

Background: Cobalamin and folate are essential micronutrients and are important in DNA and RNA synthesis, cell proliferation, growth, hematopoiesis, and cognitive function. However, data on cobalamin and folate status are lacking particularly from young children residing in low and middle income countries. Objective: To measure cobalamin and folate status and identifies their predictors among 6 to 35 months old children presenting with acute diarrhea. Design: This was a cross-sectional study in 823 children presenting with acute diarrhea. We measured plasma cobalamin, folate, methylmalonic acid and total homocysteine who sought treatment for acute diarrhea between June 1998 and August 2000. Results: The mean (SD) plasma concentrations of cobalamin, folate, total homocysteine and methylmalonic acid were 206 (124) pmol/L, 55 (32) nmol/L, 11.4 (5.6) mmol/L and 0.79 (1.2) mmol/L, respectively. The prevalence of low plasma cobalamin (,150 pmol/L) was 41% but less than 2% (15) children had low folate concentration (,10 nmol/L). Plasma homocysteine and methylmalonic acid concentrations were negatively associated with cobalamin concentration but not associated with folate status. The prevalence of cobalamin deficiency was higher in breastfed than non-breastfed children (44% vs 24%; p =,0.001). The prevalence of hyperhomocysteinemia (.10 mmol/L) and elevated methylmalonic acid (.0.28 mmol/L) were 73% and 52%, respectively. In the regression analyses, the plasma cobalamin concentration was positively associated with age, and introduction of animal or formula milk. Conclusions: Our study indicated that poor cobalamin status was common particularly among breastfed children. Folate deficiency was virtually none existent. Possible consequences of cobalamin deficiency in young children need to be explored

Sexual coercion of married women in Nepal

<p>Abstract</p> <p>Background</p> <p>Sexual coercion is an important public health issue due to its negative association with social and health outcomes. The paper aims to examine the prevalence of sexual coercion perpetrated by husbands on their wives in Nepal and to identify the characteristics associated with this phenomenon.</p> <p>Methods</p> <p>The data used in this paper comes from a cross-sectional survey on "Domestic Violence in Nepal" carried out in 2009. A total of 1,536 married women were interviewed and associations between sexual coercion and the explanatory variables were assessed via bivariate analysis using Chi-square tests. Logistic regression was then applied to assess the net effect of several independent variables on sexual coercion.</p> <p>Results</p> <p>Overall, about three in five women (58%) had experienced some form of sexual coercion by their husbands. Logistic regression analysis found that the literacy status of women, decision-making power regarding their own health care, husband-wife age differences, alcohol consumption by the husband, and male patriarchal control all had significant associations with women's experience of sexual coercion. Literate women had 28% less chance (adjusted odds ratio (aOR) = 0.72) of experiencing sexual coercion by their husbands than did illiterate women. Women who made decisions jointly with their husbands with regard to their own health care were 36% less likely (aOR = 0.64) to experience sexual coercion than those whose health care was decided upon by their mothers/fathers-in-law. On the other hand, women whose husbands were 5 or more years older than they were more likely to report sexual coercion (aOR = 1.33) than were their counterparts, as were women whose husbands consumed alcohol (aOR = 1.27). Furthermore, women who experienced higher levels of patriarchal control from their husbands were also more likely to experience sexual coercion by their husbands (aOR = 7.2) compared to those who did not face such control.</p> <p>Conclusion</p> <p>The study indicates that sexual coercion among married women is widespread in Nepal. Programs should focus on education and women's empowerment to reduce sexual coercion and protect women's health and rights. Furthermore, campaigns against alcohol abuse and awareness programs targeting husbands should also focus attention on the issue of sexual coercion.</p