Search results for: intrinsic rate

Authors: Majid Lotfi Ghahroud, Seyed Jalal Tabatabaei, Ebrahim Karami, AmirArsalan Ghergherechi, Amir Ali Saeidi

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In this study, the relationship between investment growth and stock returns of companies listed in Tehran Stock Exchange and whether their relationship -behavioral or risk factors- are discussed. Generally, there are two perspectives; risk-based approach and behavioral approach. According to the risk-based approach due to increase investment, systemic risk and consequently the stock returns are reduced. But due to the second approach, an excessive optimism or pessimism leads to assuming stock price with high investment growth in the past, higher than its intrinsic value and the price of stocks with lower investment growth, less than its intrinsic value. The investigation period is eight years from 2007 to 2014. The sample consisted of all companies listed on the Tehran Stock Exchange. The method is a portfolio test, and the analysis is based on the t-student test (t-test). The results indicate that there is a negative relationship between investment growth and stock returns of companies and this negative correlation is stronger for firms with higher cash flow. Also, the negative relationship between asset growth and stock returns is due to behavioral factors.

Keywords: behavioral theory, investment growth, risk-based theory, stock returns

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Authors: Farhia Hassan Mohamed

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This study examined the macroeconomic factors that affect the inflation Rate in Somalia using quarterly time series data from 1991q1 to 2017q4 retired from World Development Indicators and SESRIC. It employed the vector error correction model (VECM) and Granger Causality method to measure the long-run and short-run causality of the GDP, inflation exchange rate, and unemployment. The study confirmed that there is one cointegration equation between GDP, exchange rate, inflation, and unemployment in Somalia. However, the VECM model's result indicates a long-run relationship among variables. The VEC Granger causality/Block Exogeneity Wald test result confirmed that all covariates are statistically significant at 5% and are Granger's cause of inflation in the short term. Finally, the impulse response result showed that inflation responds negatively to the shocks from the exchange rate and unemployment rate and positively to GDP and itself. Drawing from the empirical findings, the study makes several policy recommendations for both the monetary and Government sides.

Keywords: CPI, OP, exchange rate, inflation ADF, Johansen, PP, VECM, impulse, ECT

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Authors: Mohammad Saleh Al-Aboody

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In the present study 442 fecal samples from cattle, buffaloes, and sheep for contamination with helminthes. Samples were examined from 171 cattle, 128 buffaloes, and 143 sheep. The testing, during the period from May 2014 to April 2015, showed that 81 out of 171cattle were positive for helminthes infection (47.3%), with the rate of infection higher in females (55%) than in males (40%). In buffaloes, 41 of 128 tested were positive, a 32% rate of infection. Again, the infection rate was higher in females (47%) than in males (22%). In sheep, the rate of infection was highest of all three species. The results showed that, the infection rate among cattle were 50.3 % and Trichostrongyle species were the predominant parasites among both cattle and buffaloes. The prevalence rate was much higher in females than males. Regarding seasonal dynamics the highest infection rates with helminthes reported was in spring season.

Keywords: helminthes, prevalence, ruminants, trichostrongyle

Procedia PDF Downloads 345

Authors: Siti Nurma Hanim Hadie, Asma’ Hassan, Zul Izhar Ismail, Ahmad Fuad Abdul Rahim, Mohd. Zarawi Mat Nor, Hairul Nizam Ismail

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Anatomy is a medical subject, which contributes to high cognitive load during learning. Despite its complexity, anatomy remains as the most important basic sciences subject with high clinical relevancy. Although anatomy knowledge is required for safe practice, many medical students graduated without having sufficient knowledge. In fact, anatomy knowledge among the medical graduates was reported to be declining and this had led to various medico-legal problems. Applying cognitive load theory (CLT) in anatomy teaching particularly lecture would be able to address this issue since anatomy information is often perceived as cognitively challenging material. CLT identifies three types of loads which are intrinsic, extraneous and germane loads, which combine to form the total cognitive load. CLT describe that learning can only occur when the total cognitive load does not exceed human working memory capacity. Hence, managing these three types of loads with the aim of optimizing the working memory capacity would be beneficial to the students in learning anatomy and retaining the knowledge for future application.

Keywords: cognitive load theory, intrinsic load, extraneous load, germane load

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Authors: Mourad Zmami Oussema BenSalha

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The current research aims to assess empirically the reaction of private investment to exchange rate fluctuations in Tunisia using a sample of 548 firms operating in manufacturing industries between 1997 and 2002. The micro-econometric model we estimate is based on an accelerator-profit specification investment model increased by two variables that measure the variation and the volatility of exchange rates. Estimates using the system the GMM method reveal that the effects of the exchange rate depreciation on investment are negative since it increases the cost of imported capital goods. Turning to the exchange rate volatility, as measured by the GARCH (1,1) model, our findings assign a significant role to the exchange rate uncertainty in explaining the sluggishness of private investment in Tunisia in the full sample of firms. Other estimation attempts based on various sub samples indicate that the elasticities of investment relative to the exchange rate volatility depend upon many firms’ specific characteristics such as the size and the ownership structure.

Keywords: investment, exchange rate volatility, manufacturing firms, system GMM, Tunisia

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Authors: Zahid Ahmad, Nosheen Imran, Nauman Ali, Farah Amir

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The objective of the study is to forecast the US Dollar and Pak Rupee exchange rate by using time series models. For this purpose, daily exchange rates of US and Pakistan for the period of January 01, 2007 - June 2, 2017, are employed. The data set is divided into in sample and out of sample data set where in-sample data are used to estimate as well as forecast the models, whereas out-of-sample data set is exercised to forecast the exchange rate. The ADF test and PP test are used to make the time series stationary. To forecast the exchange rate ARIMA model and GARCH model are applied. Among the different Autoregressive Integrated Moving Average (ARIMA) models best model is selected on the basis of selection criteria. Due to the volatility clustering and ARCH effect the GARCH (1, 1) is also applied. Results of analysis showed that ARIMA (0, 1, 1 ) and GARCH (1, 1) are the most suitable models to forecast the future exchange rate. Further the GARCH (1,1) model provided the volatility with non-constant conditional variance in the exchange rate with good forecasting performance. This study is very useful for researchers, policymakers, and businesses for making decisions through accurate and timely forecasting of the exchange rate and helps them in devising their policies.

Keywords: exchange rate, ARIMA, GARCH, PAK/USD

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Authors: Ayuko Itsuki, Sachiyo Aburatani

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We assessed the ecology of the organic and mineral soil layers of laurel-leaved (BB-1) and Cryptomeria japonica (BB-2 and Pw) forests in the Kasugayama Hill Primeval Forest (Nara, Japan). The soil respiration rate was higher in the deeper horizons (F and H) of organic layers than in those of mineral soil layers, suggesting organic layers may be where active microbial metabolism occurs. Respiration rates in the soil of BB-1, BB-2 and Pw forests were closely similar at 5 and 10°C. However, the soil respiration rate increased in proportion to temperatures of 15°C or above. We therefore consider the activity of soil microorganisms to markedly decrease at temperatures below 10°C. At a temperature of 15°C or above, the soil respiration rate in the BB-1 organic layers was higher than in those of the BB-2 and Pw organic layers, due to differences in forest vegetation that appeared to influence several salient soil properties, particularly pH and the carbon (C) and nitrogen (N) content of the F and H horizons.

Keywords: forest soil, mineralization rate, heterotroph, soil respiration rate

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Authors: Jang-hyun Oh, Kyoung-ho Choi, Jea-sun Lee

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The outbreak of the COVID-19 pandemic brought reconsiderations and doubts about urban density as compact cities became epidemic hot spots. Density, though, provides an upside in that medical services required to protect citizens against the spread of disease are concentrated within compact cities, which helps reduce the mortality rate. Sociodemographic characteristics are also a crucial factor in determining the vulnerability of the population, and the purpose of this study is to empirically discover how these three urban factors affect the severity of the epidemic impacts. The study aimed to investigate the influential relationships between urban factors and epidemic impacts and provide answers to whether superb medical service in compact cities can scale down the impacts of COVID-19. SEM (Structural Equation Modeling) was applied as a suitable research method for verifying interrelationships between factors based on theoretical grounds. The study accounted for 144 municipalities in South Korea during periods from the first emergence of COVID-19 to December 31st, 2022. The study collected data related to infection and mortality cases from each municipality, and it holds significance as primary research that enlightens the aspects of epidemic impact concerning urban settings and investigates for the first time the mediated effects of medical service. The result of the evaluation shows that compact cities are most likely to have lower sociodemographic vulnerability and better quality of medical service, while cities with low density contain a higher portion of vulnerable populations and poorer medical services. However, the quality of medical service had no significant influence in reducing neither the infection rate nor the mortality rate. Instead, density acted as the major influencing factor in the infection rate, while sociodemographic vulnerability was the major determinant of the mortality rate. Thus, the findings strongly paraphrase that compact cities, although with high infection rates, tend to have lower mortality rates due to less vulnerability in sociodemographics, Whereas death was more frequent in less dense cities due to higher portions of vulnerable populations such as the elderly and low-income classes. Findings suggest an important lesson for post-pandemic urban planning-intrinsic characteristics of urban settings, such as density and population, must be taken into account to effectively counteract future epidemics and minimize the severity of their impacts. Moreover, the study is expected to contribute as a primary reference material for follow-up studies that further investigate related subjects, including urban medical services during the pandemic.

Keywords: urban planning, sociodemographic vulnerability, medical service, COVID-19, pandemic

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: P. B. Sob, T. B. Tengen, A. A. Alugongo

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Mechanical behavior of 6082T6 aluminum is investigated at different temperatures. The strain rate sensitivity is investigated at different temperatures on the grain size variants. The sensitivity of the measured grain size variants on 3-D grain is discussed. It is shown that the strain rate sensitivities are negative for the grain size variants during the deformation of nanostructured materials. It is also observed that the strain rate sensitivities vary in different ways with the equivalent radius, semi minor axis radius, semi major axis radius and major axis radius. From the obtained results, it is shown that the variation of strain rate sensitivity with temperature suggests that the strain rate sensitivity at the low and the high temperature ends of the 6082T6 aluminum range is different. The obtained results revealed transition at different temperature from negative strain rate sensitivity as temperature increased on the grain size variants.

Keywords: nanostructured materials, grain size variants, temperature, yield stress, strain rate sensitivity

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Authors: Monalisa Pal, Kalyan Mandal

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Herein we report the molecular functionalization of promising transition metal oxide nanostructures, such as Co3O4 nanocubes, using nontoxic and biocompati-ble organic ligand sodium tartrate. The electronic structural modification of the nanocubes imparted through functionalization and subsequent water solubilization reveals multiple absorption bands in the UV-vis region. Further surface modification of the solubilized nanocubes, leads to the emergence of intrinsic multi-color fluorescence (from blue, cyan, green to red region of the spectrum), upon excitation at proper wavelengths, where the respective excitation wavelengths have a direct correlation with the observed UV-vis absorption bands. Using a multitude of spectroscopic tools we have investigated the mechanistic insight behind the origin of different UV-vis absorption bands and emergence of multicolor photoluminescence from the functionalized nanocubes. Our detailed study shows that ligand to metal charge transfer (LMCT) from tartrate ligand to Co2+/Co3+ ions and d-d transitions involving Co2+/Co3+ ions are responsible for generation of this novel optical properties. Magnetic study reveals that, antiferromagnetic nature of Co3O4 nanocubes changes to ferromagnetic behavior upon functionalization, however, the overall magnetic response was very weak. To combine strong magnetism with this novel optical property, we followed the same surface modification strategy in case of CoFe2O4 nanoparticles, which reveals that irrespective of size and shape, all Co-based oxides can develop intrinsic multi-color fluorescence upon facile functionalization with sodium tartrate ligands and the magnetic response was significantly higher. Surface modified Co-based oxide nanostructures also show excellent catalytic activity in degradation of biologically and environmentally harmful dyes. We hope that, our developed facile functionalization strategy of Co-based oxides will open up new opportunities in the field of biomedical applications such as bio-imaging and targeted drug delivery.

Keywords: co-based oxide nanostructures, functionalization, multi-color fluorescence, catalysis

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Authors: Saad Bin Nasir

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The study identifies the impact of inflation and foreign exchange rate on foreign direct investment in Pakistan. Inflation and exchange rates are used as independent variables and foreign direct investment is taken as dependent variable. Discreet time series data has been used from the period of 1999 to 2009. The results of regression analysis reveal that high inflation has negative impact on foreign direct investment and higher exchange rates has positive impact on foreign direct investment in Pakistan. The inflation and foreign exchange rates both are insignificant in the analysis.

Keywords: inflation rate, foreign exchange rate, foreign direct investment, foreign assets

Procedia PDF Downloads 390

Authors: Abdelli Soulaima, Belhadj Besma

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The paper examines the choice of the central bank toward the movements of the nominal exchange rate and evaluates its effects on the volatility of the output growth and the inflation. The novel hybrid method of the dynamic stochastic general equilibrium called the DSGE-VAR is proposed for analyzing this policy experiment in a small scale open economy in particular Tunisia. The contribution is provided to the empirical literature as we apply the Tunisian data with this model, which is rarely used in this context. Note additionally that the issue of treating the degree of response of the central bank to the exchange rate in Tunisia is special. To ameliorate the estimation, the Bayesian technique is carried out for the sample 1980:q1 to 2011 q4. Our results reveal that the central bank should not react or softly react to the exchange rate. The variance decomposition displayed that the overall inflation volatility is more pronounced with the fixed exchange rate regime for most of the shocks except for the productivity and the interest rate. The output volatility is also higher with this regime with the majority of the shocks exempting the foreign interest rate and the interest rate shocks.

Keywords: DSGE-VAR modeling, exchange rate, monetary policy, Bayesian estimation

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Authors: Yamba Dabone, Tounwendyam Frédéric Ouedraogo, Pengwendé Justin Kouraogo, Oumarou Sie

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Reliable data transport over the Internet is one of the goals of researchers in the field of computer science. Data such as videos and audio files are becoming increasingly large. As a result, transporting them over the Internet is becoming difficult. Therefore, it has been important to establish a method to locally interconnect autonomous systems (AS) with each other to facilitate traffic exchange. It is in this context that Internet Exchange Points (IXPs) are set up to facilitate local and even regional traffic. They are now the lifeblood of the Internet. Therefore, it is important to think about the factors that can characterize IXPs. However, other more quantifiable characteristics can help determine the quality of an IXP. In addition, these characteristics may allow ISPs to have a clearer view of the exchange node and may also convince other networks to connect to an IXP. To that end, we define five new IXP characteristics: the attraction rate (τₐₜₜᵣ); and the peering rate (τₚₑₑᵣ); the target rate of an IXP (Objₐₜₜ); the number of IXP links (Nₗᵢₙₖ); the resistance rate τₑ𝒻𝒻 and the attraction failure rate (τ𝒻).

Keywords: characteristic, autonomous system, internet service provider, internet exchange point, rate

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Authors: Ana Serafimovic, Karthik Devarajan

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Non-negative matrix factorization approximates a high dimensional non-negative matrix V as the product of two non-negative matrices, W and H, and allows only additive linear combinations of data, enabling it to learn parts with representations in reality. It has been successfully applied in the analysis and interpretation of high dimensional data arising in neuroscience, computational biology, and natural language processing, to name a few. The objective of this paper is to assess a hybrid algorithm for non-negative matrix factorization with multiplicative updates. The method aims to minimize the symmetric version of Kullback-Leibler divergence known as intrinsic information and assumes that the noise is signal-dependent and that it originates from an arbitrary distribution from the exponential family. It is a generalization of currently available algorithms for Gaussian, Poisson, gamma and inverse Gaussian noise. We demonstrate the potential usefulness of the new generalized algorithm by comparing its performance to the baseline methods which also aim to minimize symmetric divergence measures.

Keywords: non-negative matrix factorization, dimension reduction, clustering, intrinsic information, symmetric information divergence, signal-dependent noise, exponential family, generalized Kullback-Leibler divergence, dual divergence

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Authors: Oloyede John Adebayo

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This paper tested a variant of the monetary model of exchange rate determination, called Frankel’s Capital Account Monetary Model (CAAM) based on Real Interest Rate Differential, on the floating exchange rate experiences of three developing countries of Africa; viz: Ghana, Nigeria and the Gambia. The study adopted the Auto regressive Instrumental Package (AIV) and Almon Polynomial Lag Procedure of regression analysis based on the assumption that the coefficients follow a third-order Polynomial with zero-end constraint. The results found some support for the CAAM hypothesis that exchange rate responds proportionately to changes in money supply, inversely to income and positively to interest rates and expected inflation differentials. On this basis, the study points the attention of monetary authorities and researchers to the relevance and usefulness of CAAM as appropriate tool and useful benchmark for analyzing the exchange rate behaviour of most developing countries.

Keywords: exchange rate, monetary model, interest differentials, capital account

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Authors: Seung-Jun Yu, Young-Min Ko, Hyoung-Kyu Song

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Recently developed cooperative diversity scheme enables a terminal to get transmit diversity through the support of other terminals. However, most of the introduced cooperative schemes have a common fault of decreased transmission rate because the destination should receive the decodable compositions of symbols from the source and the relay. In order to achieve high data rate, we propose a cooperative scheme that employs hierarchical modulation. This scheme is free from the rate loss and allows seamless cooperative communication.

Keywords: cooperative communication, hierarchical modulation, high data rate, transmission scheme

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Authors: V. Jamuna, A. K. Chakravarty, C. S. Patil, Vijay Kumar, M. A. Mir, Rakesh Kumar

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Intense selection of buffaloes for milk production at organized herds of the country without giving due attention to fertility traits viz. pregnancy rate has lead to deterioration in their performances. Aim of study is to develop an optimum model for predicting pregnancy rate and to assess the level of pregnancy rate with respect to milk production Murrah buffaloes. Data pertaining to 1224 lactation records of Murrah buffaloes spread over a period 21 years were analyzed and it was observed that pregnancy rate depicted negative phenotypic association with lactation milk yield (-0.08 ± 0.04). For developing optimum model for pregnancy rate in Murrah buffaloes seven simple and multiple regression models were developed. Among the seven models, model II having only Service period as an independent reproduction variable, was found to be the best prediction model, based on the four statistical criterions (high coefficient of determination (R 2), low mean sum of squares due to error (MSSe), conceptual predictive (CP) value, and Bayesian information criterion (BIC). For standardizing the level of fertility with milk production, pregnancy rate was classified into seven classes with the increment of 10% in all parities, life time and their corresponding average pregnancy rate in relation to the average lactation milk yield (MY).It was observed that to achieve around 2000 kg MY which can be considered optimum for Indian Murrah buffaloes, level of pregnancy rate should be in between 30-50%.

Keywords: life time, pregnancy rate, production, service period, standardization

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Authors: Hasan Basri Jumin

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Using the slaughterhouse waste combined to suitable dose of nitrogen fertilizer to Apium glaviolen gives the significant effect to mean relative growth rate. The same pattern also showed significantly in net assimilation rate. The net assimilation rate increased significantly during 42 days old plants. Combination of treatment of 100 ml/l animal slaughterhouse waste and 0.1 g/kg nitrogen fertilizer/kg soil increased the vegetative growth of Apium glaviolens. The biomass of plant and mean relative growth rate of Apium glaviolens were rapidly increased in 4 weeks after planting and gradually decreased after 35 days at the harvest time. Combination of 100 ml/l slaughterhouse waste and applied 0.1 g/kg nitrogen fertilizer has increased all parameters. The highest vegetative growth, biomass, mean relative growth rate and net assimilation rate were received from 0.56 mg-l.m-2.days-1.

Keywords: Apium glaviolent, nitrogen, pollutant, slaughterhouse, waste

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Authors: Ksenija Dumičić, Anita Čeh Časni, Berislav Žmuk

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The aim of this paper is to select the most accurate forecasting method for predicting the future values of the unemployment rate in selected European countries. In order to do so, several forecasting techniques adequate for forecasting time series with trend component, were selected, namely: double exponential smoothing (also known as Holt`s method) and Holt-Winters` method which accounts for trend and seasonality. The results of the empirical analysis showed that the optimal model for forecasting unemployment rate in Greece was Holt-Winters` additive method. In the case of Spain, according to MAPE, the optimal model was double exponential smoothing model. Furthermore, for Croatia and Italy the best forecasting model for unemployment rate was Holt-Winters` multiplicative model, whereas in the case of Portugal the best model to forecast unemployment rate was Double exponential smoothing model. Our findings are in line with European Commission unemployment rate estimates.

Keywords: European Union countries, exponential smoothing methods, forecast accuracy unemployment rate

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Authors: Hyohun Kim, Dongwha Shin, Yeonseok Kim, Ji-Su Ahn, Kensuke Nakamura, Dongeun Choi, Byung-Woo Hong

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Artefacts are commonly encountered in the imaging process of clinical computed tomography (CT) where the artefact refers to any systematic discrepancy between the reconstructed observation and the true attenuation coefficient of the object. It is known that CT images are inherently more prone to artefacts due to its image formation process where a large number of independent detectors are involved, and they are assumed to yield consistent measurements. There are a number of different artefact types including noise, beam hardening, scatter, pseudo-enhancement, motion, helical, ring, and metal artefacts, which cause serious difficulties in reading images. Thus, it is desired to remove nuisance factors from the degraded image leaving the fundamental intrinsic information that can provide better interpretation of the anatomical and pathological characteristics. However, it is considered as a difficult task due to the high dimensionality and variability of data to be recovered, which naturally motivates the use of machine learning techniques. We propose an image restoration algorithm based on the deep neural network framework where the denoising auto-encoders are stacked building multiple layers. The denoising auto-encoder is a variant of a classical auto-encoder that takes an input data and maps it to a hidden representation through a deterministic mapping using a non-linear activation function. The latent representation is then mapped back into a reconstruction the size of which is the same as the size of the input data. The reconstruction error can be measured by the traditional squared error assuming the residual follows a normal distribution. In addition to the designed loss function, an effective regularization scheme using residual-driven dropout determined based on the gradient at each layer. The optimal weights are computed by the classical stochastic gradient descent algorithm combined with the back-propagation algorithm. In our algorithm, we initially decompose an input image into its intrinsic representation and the nuisance factors including artefacts based on the classical Total Variation problem that can be efficiently optimized by the convex optimization algorithm such as primal-dual method. The intrinsic forms of the input images are provided to the deep denosing auto-encoders with their original forms in the training phase. In the testing phase, a given image is first decomposed into the intrinsic form and then provided to the trained network to obtain its reconstruction. We apply our algorithm to the restoration of the corrupted CT images by the artefacts. It is shown that our algorithm improves the readability and enhances the anatomical and pathological properties of the object. The quantitative evaluation is performed in terms of the PSNR, and the qualitative evaluation provides significant improvement in reading images despite degrading artefacts. The experimental results indicate the potential of our algorithm as a prior solution to the image interpretation tasks in a variety of medical imaging applications. This work was supported by the MISP(Ministry of Science and ICT), Korea, under the National Program for Excellence in SW (20170001000011001) supervised by the IITP(Institute for Information and Communications Technology Promotion).

Keywords: auto-encoder neural network, CT image artefact, deep learning, intrinsic image representation, noise reduction, total variation

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Authors: Mohd Asrul Affendi Bi Abdullah, Nyi Nyi Naing

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The purpose of this study was to identify comparable manner between negative binomial death rate (NBDR) and zero inflated negative binomial death rate (ZINBDR) with died patients with (HIV + T B+) and (HIV + T B−). HIV and TB is a serious world wide problem in the developing country. Data were analyzed with applying NBDR and ZINBDR to make comparison which a favorable model is better to used. The ZINBDR model is able to account for the disproportionately large number of zero within the data and is shown to be a consistently better fit than the NBDR model. Hence, as a results ZINBDR model is a superior fit to the data than the NBDR model and provides additional information regarding the died mechanisms HIV+TB. The ZINBDR model is shown to be a use tool for analysis death rate according age categorical.

Keywords: zero inflated negative binomial death rate, HIV and TB, AIC and BIC, death rate

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Authors: Sheraz Ahmad Choudhary

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Health plays a vital role in the growth. The study examined the effect of health indicator on the growth of Pakistan. ARDL model is used to check the growth rate which is affected by the health by using the time series date of Pakistan from 1990 to 2017. Health indicator, fertility rate, life expectancy, foreign direct investment, and infant mortality rate are variables Where the unit root is applied to check the stationarity of the model. consequences find a significant relationship between GDP, foreign direct investment, fertility rate, and life expectancy in the short run, whereas mortality rate effected negatively to economic growth but have significant values. In the long run, foreign direct investment (FDI) and fertility rate(FR) have significantly influenced the GDP. The results show thateconomic growth is positively stimulated by most of the health indicators. The study accomplishes that nations can achieve a high level of economic growth by increasing wellbeing human capital.

Keywords: economic growth, health expenditures, fertility rate, human capital, life expectancy, foreign direct investment, and infant mortality rate

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Authors: Fajana Sola Isaac

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In the last two decades, we have witnessed an increased interest in exchange rate pass-through (ERPT) in developing economies and emerging markets. This is perhaps due to the acknowledged significance of the pattern of exchange rate pass-through as a key instrument in monetary policy design, principally in retort to a shock in exchange rate in literature. This paper analyzed Exchange Rate Pass-Through by A Model of Oil Prices and Asymmetric Exchange Rate Fluctuations in Selected African Countries. The study adopted A Non-Linear Autoregressive Distributed Lag approach using yearly data on Algeria, Burundi, Nigeria and South Africa from 1986 to 2022. The paper found asymmetry in exchange rate pass-through in net oil-importing and net oil-exporting countries in the short run during the period under review. An ERPT exhibited a complete pass-through in the short run in the case of net oil-importing countries but an incomplete pass-through in the case of the net oil-exporting countries that were examined. An extended result revealed a significant impact of oil price shock on exchange rate pass-through to domestic price in the long run only for net oil importing countries. The Wald restriction test also confirms the evidence of asymmetric with the role of oil price acting as an accelerator to exchange rate pass-through to domestic price in the countries examined. The study found the outcome to be very useful for gaining expansive knowledge on the external shock impact on ERPT and could be of critical value for national monetary policy decisions on inflation targeting, especially for countries examined and other developing net oil importers and exporters.

Keywords: pass through, exchange rate, ARDL, monetary policy

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Authors: Xize Dai, Jian Hao, Claus Leth Bak, Gian Carlo Montanari, Huai Wang

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Printed Circuit Board (PCB) is a critical component applicable to power electronics systems, especially for high-voltage applications involving several high-voltage and high-frequency SiC/GaN devices. The insulation system of PCB is facing more challenges from high-voltage and high-frequency stress that can alter the dielectric properties. Dielectric properties of the PCB insulation system also determine the electrical field distribution that correlates with intrinsic and extrinsic aging mechanisms. Hence, investigating the dielectric properties in the frequency domain of the PCB insulation system is a must. The paper presents the frequency-dependent, temperature-dependent, and voltage-dependent dielectric properties, permittivity, conductivity, and dielectric loss tangents of PCB insulation systems. The dielectric properties mechanisms associated with frequency, temperature, and voltage are revealed from the design perspective. It can be concluded that the dielectric properties of PCB in the frequency domain show a strong dependence on voltage, frequency, and temperature. The voltage-, frequency-, and temperature-dependent dielectric properties are associated with intrinsic conduction behavior and polarization patterns from the perspective of dielectric theory. The results may provide some reference for the PCB insulation system design in high voltage, high frequency, and high-temperature power electronics applications.

Keywords: electrical insulation system, dielectric properties, high voltage and frequency, printed circuit board

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Authors: Shahid Hussain Abro, F. Mufadi, A. Boodi

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Microstructural study and phase transformation in steels is a basic and important step during the design of structural steel. There are huge efforts and study has been done so far on phase transformations, due to so many steel grades available commercially the phase development in steel has different consequences. In the present work an effort has been made to study the effect of heating rate on microstructural features of cold heading quality steel. The SEM, optical microscopy, and heat treatment techniques have been applied to observe the microstructural features in the experimental steel. It was observed that heating rate has the strong influence on phase transformation of CHQ steel under investigation. Heating rate increases the austenite formation kinetics with respect to holding time, and this austenite has been transformed to martensite upon cooling. Heating rate also plays a vital role on nucleation sites of austenite formation in the experimental steel.

Keywords: CHQ steel, austenite formation, heating rate, nucleation

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Authors: Kshitij Sawke, Pradnyavant Kamble, Shrikant Patil

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The study investigates the effect on wear rate of laser clad of cast iron with silicon carbide. Metal components fail their desired use because they wear, which causes them to lose their functionality. The laser has been used as a heating source to create a melt pool over the surface of cast iron, and then a layer of hard silicon carbide is deposited. Various combinations of power and feed rate of laser have experimented. A suitable range of laser processing parameters was identified. Wear resistance and wear rate properties were evaluated and the result showed that the wear resistance of the laser treated samples was exceptional to that of the untreated samples.

Keywords: laser clad, processing parameters, wear rate, wear resistance

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Authors: Raymond K. Dziwornu

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Lending rate of agriculture loan has persistently been high and attributed to risk in the sector. This study examined how food inflation and agriculture lending rate react to each other in Ghana using vector autoregressive approach. Quarterly data from 2006 to 2018 was obtained from the Bank of Ghana quarterly bulletin and the Ghana Statistical Service reports. The study found that a positive standard deviation shock to food inflation causes lending rate of agriculture loan to react negatively in the short run, but positively and steadily in the long run. This suggests the need to direct appropriate policy measures to reduce food inflation and consequently, the cost of credit to the agricultural sector for its growth.

Keywords: food inflation, agriculture, lending rate, vector autoregressive, Ghana

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Authors: Xiaodong Gao, Pingchuan Dong, Qichao Gao

Abstract:

There has been lots of published work focused on asphaltene deposited on the smooth pipe under steady conditions, while particle deposition on the blockage wellbores under transient conditions has not been well elucidated. This work attempts to predict the deposition rate of asphaltene particles in blockage tube through CFD simulation. The Euler-Lagrange equation has been applied during the flow of crude oil and asphaltene particles. The net gravitational force, virtual mass, pressure gradient, saffman lift, and drag forces are incorporated in the simulations process. Validation of CFD simulation results is compared to the benchmark experiments from the previous literature. Furthermore, the effect of blockage location, blockage length, and blockage thickness on deposition rate are also analyzed. The simulation results indicate that the maximum deposition rate of asphaltene occurs in the blocked tube section, and the greater the deposition thickness, the greater the deposition rate. Moreover, the deposition amount and maximum deposition rate along the length of the tube have the same trend. Results of this study are in the ability to better understand the deposition of asphaltene particles in production and help achieve to deal with the asphaltene challenges.

Keywords: asphaltene deposition rate, blockage length, blockage thickness, blockage diameter, transient condition

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Authors: Samuel Akinlabi Ola, Emeka Segun Nnochiri, Stephen Kayode Aderomose, Paul Ayesemhe Edoh

Abstract:

Fadama soils of Northern Nigeria are generally a problem soil for highway and geotechnical engineers. There has been no consistent conclusion on the effect of the strain rate on the shear strength of soils, thus necessitating the need to clarify this issue with various types of soil. Consolidated undrained tests with pore pressure measurements were conducted at optimum moisture content and maximum dry density using standard proctor compaction. Back pressures were applied to saturate the soil. The shear strength parameters were determined. Analyzing the results and model studies using the Rate Process Theory, functional relationships between the deviator stress and strain rate were determined and expressed mathematically as deviator stress = β0+ β1 log(strain rate) at each cell pressure where β0 and β1 are constants. Also, functional relationships between the pore pressure coefficient Āf and the time to failure were determined and expressed mathematically as pore pressure coefficient, Āf = ψ0+ѱ1log (time to failure) where ψ0 and ѱ1 are constants. For cell pressure between 69 – 310 kN/m2 (10 - 45psi) the constants found for Fadama soil in this study are ψ0=0.17 and ѱ1=0.18. The study also shows the dependence of the angle of friction (ø’) on the rate of strain as it increases from 22o to 25o for an increase in the rate of strain from 0.08%/min to 1.0%/min. Conclusively, the study also shows that within the strain rate utilized in the research, the deviator strength increased with the strain rate while the excess pore water pressure decreased with an increase in the rate of strain.

Keywords: deviator stress, Fadama soils, pore pressure coefficient, rate process

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