The need for consolidating international financial regulatory architecture

The existing international financial regulatory architecture is multifarious. Prevalent regulatory forums are numerous, with over-lapping spheres of activity, where all such forums share a lack of consolidated authority. Bodies like the Basel Committee on Banking Supervision (BCBS), Group of 20, Financial Stability Forum, and OECD are all working to reform the international financial architecture. This multiplicity of opinions and disagreement on a minimum set of common standards due to existence of multiple forums with an absence of any concentration of authority is the subject of this paper. There is an argument by various scholars that this can be achieved through the appointment of a Global Supervisor, or a World Regulatory Authority. This paper is an attempt to explore this thesis, and this study goes beyond exploring the structure of various financial law organizations to suggest that there is a need to consolidate the existing structures not only by reducing the number of platforms available but by consolidating the authority into one efficient body.postprintThe 13th International Conference on Finance and Banking: Lessons Learned from the Financial Crisis, Ostrava, Czech Republic, 12-13 October 2011. In Conference Proceedings of The 13th International Conference on Finance and Banking, 2011, p. 24-3

A road to financial stability

This article provides a road map to financial stability. The roadmap is created by analyzing successive episodes of financial crisis at various points in time and the regulatory-cum-supervisory responses devised to reduce the chance of future threats to systemic stability. This article provides a glimpse of historical events that led to the establishment of Basel Committee and then critically evaluates committee’s efforts to make financial markets more certain and secure. This article also highlights the efforts of supervisory authorities in creating an effective regulatory framework through the Basel Capital accords. A critique of the Basel accords is sketched showing how Basel I and Basel II did not help contain successive episodes of financial crisis. This paper also draws upon Basel III regulations currently under deliberation and highlights vulnerable areas that may continue to threaten systemic stability even after the implementation of Basel III

Study of strange quark density fluctuations in Au+Au Collisions at sNN\sqrt{s_{NN}} = 7.7-200 GeV from AMPT Model

The strangeness production is an important observable to study the QCD phase diagram. The yield ratios of strange quark can be helpful to search for the QCD critical point and/or first order phase transition. In this work, we studied the production of $K^{\pm}$, $\Xi^-(\bar{\Xi}^{+})$, $\phi$ and $\Lambda (\bar \Lambda)$ in Au+Au collisions at $\sqrt{s_{NN}}$ = 7.7, 11.5, 14.5, 19.6, 27, 39, 54.4, 62.4 and 200 GeV from A Multi-Phase Transport model with string melting version (AMPT-SM). We calculated the invariant yield of these strange hadrons using a different set of parameters reported in earlier studies and also by varying the hadronic cascade time ($t_{max}$) in the AMPT-SM model. We also calculated the yield ratios, $\mathcal{O}_{K^{\pm}-\Xi^{-}(\bar \Xi^{+})-\phi-\Lambda (\bar \Lambda)}$ which are sensitive to the strange quark density fluctuations and found that the AMPT-SM model fails to describe the non-monotonic trend observed by the STAR experiment. The negative particle ratio are found to be higher than the ratio of positive particles which is consistent with the experimental data. A significant effect is also seen on these ratios by varying the $t_{max}$. This study based on the transport model can be helpful to provide possible constraints as well as reference for the search of CEP in future heavy-ion experiments. Our findings suggest that the ongoing Beam Energy Scan program at RHIC and the future heavy-ion experiments will be able to find/locate the possible CEP in the QCD phase diagram which results large quark density fluctuations.Comment: 7 pages, 2 figure

COMPARATIVE EFFICACY OF DETOMIDINE AND DETOMIDINE - KETAMINE COCKTAIL IN QUAILS

Twenty adult healthy quails (Coturnix coturnix) were divided into two equal groups. One group was administered detomidine (2.4 mg/kg, I/M) and other group was administered detomidine-ketamine cocktail (1.2 mg/kg + 30 mg/kg, I/M). Detomidine slowly and smoothly induced a light sedation accompanied by superficial analgesia, hypoventilation, hypothermia and bradycardia in all birds. Detomidine-ketamine cocktail rapidly and smoothly induced a deep anaesthesia accompanied by deep analgesia, hypoventilation, hypothermia and bradycardia and complete loss of all reflexes in all birds. In both groups, recovery from sedation and anaesthesia was smooth and of short duration. From this study it was concluded that for minor and least painful procedures in quails detomidine can be used alone, while for major and painful surgical procedures detomidine-ketamine combination should be preferred

Derivatives trading in emerging economies with special reference to India

In this study The National Stock Exchange of India (NSE) has been taken as the sample exchange since this is the only exchange which provided the derivatives facility throughout the reference period of the study. The reference period of the study has been taken from 2001-02 to 2011-12.MAGR has been employed to determine the growth of derivatives in NSE and this study concludes  that the derivatives products such as Stock Futures, Stock Options , Index Options and Index Futures have shown significant growth during the earlier years during which the national and international sentiment was quite optimistic, however, since the year 2009-2010 the derivatives market have registered sluggish growth even negative growth in some cases because of the slowdown in The U.S.A. and debt crises in the Euro zone which engulfed the emerging capital markets all over the globe including India. It was this reason that impacted the volumes of derivative products in India. Despite, all these economic disturbances the overall growth of derivatives continued in India though at decreasing pace

Pair production of heavy charged gauge bosons in pppp collisions at LHC

Two opposite charged new heavy gauge boson pair production at the Large Hadron Collider (LHC) is presented in this paper. These bosons are known as $W^{'}$ boson due to the reason that it is the heavy version of Standard Model's weak force carrier, the $W$ boson. The production cross section and decay width in proton-proton ($pp$) collision at \sqrts~= 8 TeV are calculated for different masses and coupling strengths of $W^{'}$. Efficiencies for different signal regions and branching ratios for different decay channels are computed. In this study, the pair production ($W^{'^{+}}W^{'^{-}}$) is considered in emerging new physics as a result of $pp$ collision at \sqrts~= 8 TeV at the LHC with final state containing two tau ($\tau$) leptons and two neutrinos (each $W^{'}$ decay to $\tau$ and its neutrino). The event selection efficiency similar to the CMS experiment is used for the mass of $W^{'}$ to set lower limits for different coupling strengths of $W^{'}$ and results are presented in this work. For heavy gauge bosons, when coupling strength is similar to that of Standard Model's $W$ boson, the mass of $W^{'}$ below 305 GeV are excluded at confidence level of $95\%$.Comment: 21 pages, 16 figure

Distal radius fractures: a prospective study of the clinical and radiological outcomes in surgically managed patients

Background: Objective of the research was to evaluate radiological and functional outcome in fractures of the distal radius treated by various surgical methods.Methods: 89 patients with distal radius fractures were randomly divided into three groups according to a computer-generated table of randomization. 40 patients were managed by K wire fixation. 22 patients were managed by external fixator. 27 patients were managed by volar plating technique. Anatomical restoration was evaluated by posterior-anterior and lateral radiographs obtained preoperatively and at 09 months of follow up to evaluate radial height (RH), radial inclination (RI) and volar tilt (VT). Functional outcome was evaluated using Mayo scoring system.Results: According to Mayo score, in K-wire group 72.5% (n=29) patients had excellent to good outcome, 17.5% (n=7) had fair outcome while as 10% (n=4) patients had poor outcome. In external fixator group 72.7% (n=16) patients had excellent to good outcome while as 27.3% (n=6) had fair outcome. In volar plating group 81.5% (n=22) patients had excellent to good outcome while as 18.5% (n=5) had fair outcome.Conclusions: In our study we found that volar locked plating provides advantage in dorsally or volarly displaced intra-articular fractures with excellent to good radiological outcome. However, in type B (partial intra-articular fractures) fractures, volar locking compression plate (LCP) and external fixator provide almost equivocal results. Percutaneous pinning can be recommended for extra-articular or simple intra-articular fracture patterns, with a loss of volar and/or RI but without significant radial shortening

Sheared bioconvection in a horizontal tube

The recent interest in using microorganisms for biofuels is motivation enough to study bioconvection and cell dispersion in tubes subject to imposed flow. To optimize light and nutrient uptake, many microorganisms swim in directions biased by environmental cues (e.g. phototaxis in algae and chemotaxis in bacteria). Such taxes inevitably lead to accumulations of cells, which, as many microorganisms have a density different to the fluid, can induce hydrodynamic instabilites. The large-scale fluid flow and spectacular patterns that arise are termed bioconvection. However, the extent to which bioconvection is affected or suppressed by an imposed fluid flow, and how bioconvection influences the mean flow profile and cell transport are open questions. This experimental study is the first to address these issues by quantifying the patterns due to suspensions of the gravitactic and gyrotactic green biflagellate alga Chlamydomonas in horizontal tubes subject to an imposed flow. With no flow, the dependence of the dominant pattern wavelength at pattern onset on cell concentration is established for three different tube diameters. For small imposed flows, the vertical plumes of cells are observed merely to bow in the direction of flow. For sufficiently high flow rates, the plumes progressively fragment into piecewise linear diagonal plumes, unexpectedly inclined at constant angles and translating at fixed speeds. The pattern wavelength generally grows with flow rate, with transitions at critical rates that depend on concentration. Even at high imposed flow rates, bioconvection is not wholly suppressed and perturbs the flow field.Comment: 19 pages, 9 figures, published version available at http://iopscience.iop.org/1478-3975/7/4/04600

Effect of hadronic cascade time on freeze-out properties of Identified Hadrons in Au+Au Collisions at sNN\sqrt{s_{NN}} = 7.7-39 GeV from AMPT Model

We report the transverse momentum $p_T$ spectra of identified hadrons ($\pi^\pm$, $K^\pm$ and $p(\bar p)$) in Au+Au collisions at $\sqrt{s_{NN}}$ = 7.7 - 39 GeV from A Multi Phase Transport Model with string melting effect (AMPT-SM). During this study, a new set of parameters are explored to study the effect of hadronic cascade by varying hadronic cascade time $t_{max}$ = 30 $f$m/$c$ and 0.4 $f$m/$c$. No significant effect of this change is observed in the $p_T$ spectra of light hadrons and the AMPT-SM model reasonably reproduces the experimental data. To investigate the kinetic freeze-out properties the blast wave fit is performed to the $p_T$ spectra and it is found that the blast wave model describes the AMPT-SM simulations well. We additionally observe that the kinetic freeze-out temperature ($T_{kin}$) increases from central to peripheral collisions, which is consistent with the argument of short-lived fireball in peripheral collisions. Whereas the transverse flow velocity, shows a decreasing trend from central to peripheral collisions indicating a more rapid expansion in the central collisions. Both, $T_{kin}$ and show a weak dependence on the collision energy at most energies. We also observe a strong anti-correlation between $T_{kin}$ and $$. The extracted freeze-out parameters from the AMPT-SM simulations agree with the experimental data as opposed to earlier studies that reported some discrepancies. Whereas, no significant effect is found on the freeze-out parameters by varying the $t_{max}$. We also report the $p_T$ spectra of light hadrons and their freeze-out parameters by AMPT-SM simulations at $\sqrt{s_{NN}}$ = 14.5 GeV, where no experimental data is available for comparison. Overall, the set of parameters used in this study well describes the experimental data at BES energies.Comment: 12 pages, 7 figures, 2 table

The Expansion of State Authority Over the Neighbouring States Through Informal Migration Controls: The Case of Hungary’s Control over Serbia

Our preliminary fieldwork shows that there is large scale agreement between the migration and border authorities of Hungary and Serbia on the names of asylum seekers before they are allowed into to the Hungarian transit zones and apply for international protection in Hungary. The list, proposed by the Serbian Commissariat for Refugees (SCR) and approved by the Hungarian border authorities, is communicated through the use of community leaders from the Serbian reception centre. Hungary’s motive behind keeping its cooperation with Serbia informal is to conceal the existence of cooperation between both states and to avoid legal challenges in the Court of Justice of the EU (CJEU) and the European Court of Human Rights (ECtHR). Therefore, the paper argues that the informalisation of migration management constitutes a significant challenge for the authority of the Geneva Convention Relating to the Status of Refugees 1951 (hereinafter referred as the Refugee Convention). The paper further argues that Hungary’s informal cooperation with Serbia is a form of expansion of the Hungarian state authority under the principle of extraterritorial jurisdiction of a state. Therefore, despite informal nature of Hungary’s migration cooperation with Serbia, the responsibility for violations of asylum seekers rights in Serbia and their exclusion from international protection continues to engage Hungary for the reason of having effective control on the migration management in Serbia