The European Financial System in Limelight

Efficient use of resources depends on better allocation through financial systems. Development of financial systems can be measured through the performance of banks, financial markets and insurance companies. This paper identifies several key attributes to measure the level of financial development in Europe using data from 1990 to 2011. First, an index is constructed by employing the method of Principal Component Analysis to measure the strength of financial systems in European countries. Second, based on relative raking a comparison is made for better interpretation of results in European countries. The top five countries include Switzerland, United Kingdom, Netherlands, Spain and Germany. The results of this study can be helpful to assess the relative strength of European economies and frame future policies to promote efficiency of financial systems

Prediction of Pakistani Honey Authenticity through Machine Learning

Honey is a high-demand product in many countries because it is high in nutritional value and rich in antioxidants. Thus, the demand for honey is increased. However, the productivity of honey is naturally lower than its demand. Therefore, honey has often become a target for adulteration. Adulteration of honey is a critical issue because the nutritional value of pure honey is reduced by adding cheap and easily available sweeteners, affecting the consumers’ health. Thus, investigating honey authenticity is popular among regulatory bodies, the food industry, retail sellers, and consumers. Several works have been done to predict the authenticity of honey using various physicochemical features. Few other works have also classified honey on the basis of geographical or botanical origin. However, previous studies have three major limitations. First, the existing studies used the imbalanced datasets, and the performance of these studies further needs attention. Second, as far as we know, no researcher has attempted to use machine learning approaches in investigating the adulteration of Pakistani honey. Finally, the dataset for predicting the authenticity of Pakistani honey is lacking. Therefore, this study proposes a novel classification model to address the aforementioned weaknesses by classifying the authenticity of Pakistani honey using machine learning algorithms and several physicochemical features. This work also presents three classification models systematically to classify the Pakistani honey into three levels. The first level classifies whether the honey is original or branded. The second level classifies the geographical origin. The botanical origin of honey is classified in the third level. Our experimental results show that the proposed features coupled with machine learning algorithms can predict the authenticity of Pakistani honey with outstanding results. We believe that our proposed work will be proved beneficial in reducing the adulteration of Pakistani honey

Effects of a high-dose 24-h infusion of tranexamic acid on death and thromboembolic events in patients with acute gastrointestinal bleeding (HALT-IT): an international randomised, double-blind, placebo-controlled trial

Background: Tranexamic acid reduces surgical bleeding and reduces death due to bleeding in patients with trauma. Meta-analyses of small trials show that tranexamic acid might decrease deaths from gastrointestinal bleeding. We aimed to assess the effects of tranexamic acid in patients with gastrointestinal bleeding. Methods: We did an international, multicentre, randomised, placebo-controlled trial in 164 hospitals in 15 countries. Patients were enrolled if the responsible clinician was uncertain whether to use tranexamic acid, were aged above the minimum age considered an adult in their country (either aged 16 years and older or aged 18 years and older), and had significant (defined as at risk of bleeding to death) upper or lower gastrointestinal bleeding. Patients were randomly assigned by selection of a numbered treatment pack from a box containing eight packs that were identical apart from the pack number. Patients received either a loading dose of 1 g tranexamic acid, which was added to 100 mL infusion bag of 0·9% sodium chloride and infused by slow intravenous injection over 10 min, followed by a maintenance dose of 3 g tranexamic acid added to 1 L of any isotonic intravenous solution and infused at 125 mg/h for 24 h, or placebo (sodium chloride 0·9%). Patients, caregivers, and those assessing outcomes were masked to allocation. The primary outcome was death due to bleeding within 5 days of randomisation; analysis excluded patients who received neither dose of the allocated treatment and those for whom outcome data on death were unavailable. This trial was registered with Current Controlled Trials, ISRCTN11225767, and ClinicalTrials.gov, NCT01658124. Findings: Between July 4, 2013, and June 21, 2019, we randomly allocated 12 009 patients to receive tranexamic acid (5994, 49·9%) or matching placebo (6015, 50·1%), of whom 11 952 (99·5%) received the first dose of the allocated treatment. Death due to bleeding within 5 days of randomisation occurred in 222 (4%) of 5956 patients in the tranexamic acid group and in 226 (4%) of 5981 patients in the placebo group (risk ratio [RR] 0·99, 95% CI 0·82–1·18). Arterial thromboembolic events (myocardial infarction or stroke) were similar in the tranexamic acid group and placebo group (42 [0·7%] of 5952 vs 46 [0·8%] of 5977; 0·92; 0·60 to 1·39). Venous thromboembolic events (deep vein thrombosis or pulmonary embolism) were higher in tranexamic acid group than in the placebo group (48 [0·8%] of 5952 vs 26 [0·4%] of 5977; RR 1·85; 95% CI 1·15 to 2·98). Interpretation: We found that tranexamic acid did not reduce death from gastrointestinal bleeding. On the basis of our results, tranexamic acid should not be used for the treatment of gastrointestinal bleeding outside the context of a randomised trial

Financial Development, Economic Growth and Crises

The importance of financial markets in a globalised economy cannot be overstated. An obvious example is the 2008 collapse of Lehman Brothers, the consequences of which were not just confined to the United States but spread to almost all developed economies in the world. On a daily basis movement in the world's stock, bond, commodity and currency markets can be affected by as diverse factors as a revision to the inflation rate in China, an unexpected European Union meeting on the Euro or the announcement of company earnings in the U.S. The link between financial markets and the real economy, the increased volatility in financial markets, and the repercussions of financial crises are issues of great interest to economic agents (policymakers, firms, households) around the world. However, they are of even greater significance to developing nations, as they try to raise their living standards. The research presented in this thesis aims to inform the discussion on the pertinence of financial development for economic growth. Following a brief introduction, Chapter 2 sets the scene by reviewing the neo- classical growth models and endogenous growth theory. The rationale for focusing v - on the role of financial development is discussed next followed by all evaluation of the empirical evidence. Chapter 3 concentrates on the measurement of financial de- velopment. Existing measures are examined and a new measure is introduced using the latest available data for the largest possible number of economies. The principal components methodology, which reduces the dimensionality of the data, is used for the construction of this new measure. This is then used to revisit the empirical relationship between financial development and growth in Chapter 4. The method- ology employed is that of least squares dummy variables (LSDV) estimation, and the issue of potential endogeneity is explored through the use of two-stage ordinary least squares (OLS) and generalised method of moments (GMM). Chapter 5 undertakes a large sample analysis to address the relationship between financial development, and the likelihood of financial crises and chapter 6 summaries the findings from this work and discusses limitations and possible extensions. VI.EThOS - Electronic Theses Online ServiceGBUnited Kingdo

Analysis and Classification of Bone Fractures Using Machine Learning Techniques

Human bones are the hard organs that protect vital organs such as the heart, lungs, and other internal organs. Fractures of the bones are a prevalent issue among humans. Bone fractures may develop from an accident or another circumstance when there is great pressure on the bones. It may be difficult and time-consuming to determine the site of a fracture in a patient who is suffering discomfort. The manual examination of fractures during radiological interpretation is a time-consuming and error-prone process. This may result in erroneous detection, poor fracture healing, and an extensive procedure. So, this research proposed an effective approach to rectifying bone fractures with the inclusion of the latest technologies. The solution is proposed by employing a Deep learning model. Moreover, a novel concept of classification is also incorporated. Firstly; the MURA dataset was collected from Stanford. Secondly; The proposed model used techniques like DCNN (Deep Convolution Neural Network) and use Alex Net model. Bones are classified into fractured or non-fractured through a classification approach. The proposed model was created using Google Colab. The proposed model was trained by repeating several experiments. The performance was evaluated based on accuracy. The suggested model results were compared with baseline algorithms as well. Consequently, the findings of this work will be useful for the medical industry

Multi-Modality and Feature Fusion-Based COVID-19 Detection Through Long Short-Term Memory

The Coronavirus Disease 2019 (COVID-19) pandemic poses the worldwide challenges surpassing the boundaries of country, religion, race, and economy. The current benchmark method for the detection of COVID-19 is the reverse transcription polymerase chain reaction (RT-PCR) testing. Nevertheless, this testing method is accurate enough for the diagnosis of COVID19. However, it is time-consuming, expensive, expert-dependent, and violates social distancing. In this paper, this research proposed an effective multimodality-based and feature fusion-based (MMFF) COVID-19 detection technique through deep neural networks. In multi-modality, we have utilized the cough samples, breathe samples and sound samples of healthy as well as COVID-19 patients from publicly available COSWARA dataset. Extensive set of experimental analyses were performed to evaluate the performance of our proposed approach. Several useful features were extracted from the aforementioned modalities that were then fed as an input to long short-term memory recurrent neural network algorithms for the classification purpose. Extensive set of experimental analyses were performed to evaluate the performance of our proposed approach. The experimental results showed that our proposed approach outperformed compared to four baseline approaches published recently. We believe that our proposed technique will assists potential users to diagnose the COVID-19 without the intervention of any expert in minimum amount of time

Heterogeneous Patterns of Financial Development: Implications for Asian Financial Integration

This paper analyzes detailed differences in patterns of financial development across the major Asian economies, including three of the region’s largest economies (China, Japan and South Korea), to understand how these differences might affect possibilities for greater regional financial integration. In particular, the paper argues that heterogeneous patterns of financial development, and not just differences in levels of financial development, may present an economic challenge to regional financial integration efforts, aside from possible political challenges. The paper provides background on the case for financial openness, Asian experiences with financial integration, and regional economic responses to external shocks. It also discusses policy options, including regulatory reform and coordination, and possible risk management policies and institutions, in the context of heterogeneous patterns of financial development

Effects of a high-dose 24-h infusion of tranexamic acid on death and thromboembolic events in patients with acute gastrointestinal bleeding (HALT-IT): an international randomised, double-blind, placebo-controlled trial

BackgroundTranexamic acid reduces surgical bleeding and reduces death due to bleeding in patients with trauma. Meta-analyses of small trials show that tranexamic acid might decrease deaths from gastrointestinal bleeding. We aimed to assess the effects of tranexamic acid in patients with gastrointestinal bleeding.MethodsWe did an international, multicentre, randomised, placebo-controlled trial in 164 hospitals in 15 countries. Patients were enrolled if the responsible clinician was uncertain whether to use tranexamic acid, were aged above the minimum age considered an adult in their country (either aged 16 years and older or aged 18 years and older), and had significant (defined as at risk of bleeding to death) upper or lower gastrointestinal bleeding. Patients were randomly assigned by selection of a numbered treatment pack from a box containing eight packs that were identical apart from the pack number. Patients received either a loading dose of 1 g tranexamic acid, which was added to 100 mL infusion bag of 0·9% sodium chloride and infused by slow intravenous injection over 10 min, followed by a maintenance dose of 3 g tranexamic acid added to 1 L of any isotonic intravenous solution and infused at 125 mg/h for 24 h, or placebo (sodium chloride 0·9%). Patients, caregivers, and those assessing outcomes were masked to allocation. The primary outcome was death due to bleeding within 5 days of randomisation; analysis excluded patients who received neither dose of the allocated treatment and those for whom outcome data on death were unavailable. This trial was registered with Current Controlled Trials, ISRCTN11225767, and ClinicalTrials.gov, NCT01658124.FindingsBetween July 4, 2013, and June 21, 2019, we randomly allocated 12 009 patients to receive tranexamic acid (5994, 49·9%) or matching placebo (6015, 50·1%), of whom 11 952 (99·5%) received the first dose of the allocated treatment. Death due to bleeding within 5 days of randomisation occurred in 222 (4%) of 5956 patients in the tranexamic acid group and in 226 (4%) of 5981 patients in the placebo group (risk ratio [RR] 0·99, 95% CI 0·82–1·18). Arterial thromboembolic events (myocardial infarction or stroke) were similar in the tranexamic acid group and placebo group (42 [0·7%] of 5952 vs 46 [0·8%] of 5977; 0·92; 0·60 to 1·39). Venous thromboembolic events (deep vein thrombosis or pulmonary embolism) were higher in tranexamic acid group than in the placebo group (48 [0·8%] of 5952 vs 26 [0·4%] of 5977; RR 1·85; 95% CI 1·15 to 2·98).InterpretationWe found that tranexamic acid did not reduce death from gastrointestinal bleeding. On the basis of our results, tranexamic acid should not be used for the treatment of gastrointestinal bleeding outside the context of a randomised trial.</div