Financial innovation and credit market development

This paper studies the significance of social innovations - in particular, financial and fiscal innovations. Financial innovations tend to reduce transaction costs and risk, and as a result bring about widening, deepening and integration of capital markets. Such financial development accelerates the pace of economic development through its favorable impact on saving, investment, and output. The relationship between finance and development and the precise role of financial innovations are discussed in Section I, while Section II deals with the nature and characteristics of financial innovations. Section III examines the role of policy intervention in quickening the pace of financial development in the developing countries. The nature and characteristics of financial innovations essential for financial small farm and nonfarm enterprises and for mobilizing resources from middle and low income groups in the developing countries, are illustrated by a case study of an innovative bank in Section IV. Some concluding observations are made in the final section.Banks&Banking Reform,Financial Intermediation,Environmental Economics&Policies,Economic Theory&Research,Insurance&Risk Mitigation

Beurling algebra analogues of the classical theorems of Wiener and Levy on absolutely convergent Fourier series

Let $f$ be a continuous function on the unit circle $\Gamma$, whose Fourier series is $\omega$-absolutely convergent for some weight $\omega$ on the set of integers $\mathcal{Z}$. If $f$ is nowhere vanishing on $\Gamma$, then there exists a weight $\nu$ on $\mathcal{Z}$ such that $1/f$ had $\nu$-absolutely convergent Fourier series. This includes Wiener's classical theorem. As a corollary, it follows that if $\phi$ is holomorphic on a neighbourhood of the range of $f$, then there exists a weight $\chi$ on $\mathcal{Z}$ such that \hbox{$\phi\circ f$} has $\chi$-absolutely convergent Fourier series. This is a weighted analogue of L\'{e}vy's generalization of Wiener's theorem. In the theorems, $\nu$ and $\chi$ are non-constant if and only if $\omega$ is non-constant. In general, the results fail if $\nu$ or $\chi$ is required to be the same weight $\omega$.Comment: 4 page

On participating in the international capital market

The international capital market as it has been evolving provides an opportunity for developing countrieslike India to attract the required capital inflow for accelerating their pace of development, manage their foreign exchange assets and liabilities to their advantage and develop export capabilities in the field of financial services. Active participation in this market would not only improve their access to the market but also indicate the institutional and policy framework essential for developing effective and efficient domestic financial markets. The possibilities of such participation would be enhanced if the developing countries like India take a constructive stand with regard to the multilateral negotiations in respect of trade in services under the Uruguay Round.Banks&Banking Reform,Economic Theory&Research,Financial Intermediation,Environmental Economics&Policies,Poverty Assessment

Race/Ethnicity: Is it an Outcome Predictor in Patients with Heart Failure?

Objective: The aim of this study was to determine the role of race as a significant risk factor for prediction of outcomes in heart failure (HF). Methods: The data was collected on demographics, detailed history of HF, family history, vital signs, medication and laboratory profile for 585 patients from Heart failure Treatment Center of Emory University after year of 2000. Outcome of HF was defined as combination of death, placement of left ventricular assisted devise, heart transplant or emergency transplant. The independent relationship between race and outcomes of HF was evaluated by univariate and multivariate logistic regression analyses. The survival analysis was done by Cox regression modeling. Results: Among 585 HF patients, 58.1% were whites and 41.9% were blacks and 28.2% HF patients had positive outcomes. Although Whites tended to have a more positive outcome (34.6%) than blacks (28.9%), the difference was not statistically significant. Factors predicting the outcome in whites were male gender (OR 5.02), history of hypertension (OR 2.3), ventricular arrhythmias (OR 2.4), placement of AICD(OR 0.09), low EF% (OR 0.95), high NYHA class (OR 3.25), use of beta blockers (OR 0.12), aldosterone blockers (OR 2.19), furosemide (2.18); while in blacks they were age in years (OR 0.96), history of PTCA (OR 7.04), dislipidemia (OR 3.90), depression (OR 0.01), placement of AICD (OR 0.14), low EF% (OR 0.92), systolic blood pressure (OR 0.96), high NYHA class (OR 4.01), use of beta blockers (OR 0.14), torsemide (OR 2.86), and digoxin (OR 4.91) etc. Blacks had higher survival than whites (p \u3c 0.001). Conclusion: There is no significant difference in combined outcome (death, transplant, emergency transplant, and Left Ventricular Assisted Devise placement) of HF between whites and blacks. There are differences regarding the risk factors, which are more prominent in each race. Further exploration is required to evaluate the race as significant risk factor for predicting the outcome in HF

Porous silicon & titanium dioxide coatings prepared by atmospheric pressure plasma jet chemical vapour deposition technique-a novel coating technology for photovoltaic modules

Atmospheric Pressure Plasma Jet (APPJ) is an alternative for wet processes used to make anti reflection coatings and smooth substrate surface for the PV module. It is also an attractive technique because of it’s high growth rate, low power consumption, lower cost and absence of high cost vacuum systems. This work deals with the deposition of silicon oxide from hexamethyldisiloxane (HMDSO) thin films and titanium dioxide from tetraisopropyl ortho titanate using an atmospheric pressure plasma jet (APPJ) system in open air conditions. A sinusoidal high voltage with a frequency between 19-23 kHz at power up to 1000 W was applied between two tubular electrodes separated by a dielectric material. The jet, characterized by Tg ~ 600-800 K, was mostly laminar (Re ~ 1200) at the nozzle exit and became partially turbulent along the jet axis (Re ~ 3300). The spatially resolved emission spectra showed OH, N2, N2+ and CN molecular bands and O, H, N, Cu and Cr lines as well as the NO2 chemiluminescence continuum (450-800 nm). Thin films with good uniformity on the substrate were obtained at high deposition rate, between 800 -1000 nm.s-1, and AFM results revealed that coatings are relatively smooth (Ra ~ 2 nm). The FTIR and SEM analyses were better used to monitor the chemical composition and the morphology of the films in function of the different experimental conditions. When you are citing the document, use the following link http://essuir.sumdu.edu.ua/handle/123456789/2790