European Union and the developing nations' external debt : EU-15's debt policy, 1960–2008

This Master's Thesis defines the debt policy of the current European Union Member States towards the developing nations. Since no official policy for debt exists in the EU, it is defined to include debt practices (loans and debt relief in development cooperation) and debt within the EU development policy framework. This study (1) describes how the issue of external debt appears in the development policy framework, (2) compares EU Member States' given loans and debt relief to grants for the developing nations (1960s to the 2000s), and (3) measures the current orientation in ODA of each EU Member State between grant aid and loan aid using the Grant-Loan Index (GLI). Theoretical aspects include reasons for selecting between loans (Bouchet 1987) and grants (Odedokun 2004, O'Brien and Williams 2007), policy context of the EU (Van Reisen 2007) and the meaning of external debt in the set-up between the North and the South. In terms of history, the events and impact of the colonial period (where loans have originated) are overviewed and compared in light of today's policies. Development assistance statistics are derived from the OECD DAC statistics portal and EU development policy framework documents from the EU portal. Methodologically, the structure of this study is from policy analysis (Barrien 1999, Hill 2008, Berndtson 2008), but it has been modified to fit the needs of studying a non-official policy. EU Member States are divided into three groups by Carbone (2007a), the Big-3, Northern and Southern donors, based on common development assistance characteristics. The Grant-Loan Index is used to compare Carbone's model, which measures quality of aid, to the GLI measuring the structure of aid. Results indicate that EU- 15 countries (active in debt practices) differ in terms of timing, stability and equality of debt practices in the long-term (1960s to the 2000s). In terms of current practices, (2000-2008), it is noted that there lies a disparity between the actual practices and the way in which external debt is represented in the development policy framework, although debt practices form a relevant portion of total ODA practices for many EU-15 Member States, the issue itself plays a minor role in development policy documents. Carbone’s group division applies well to the Grant – Loan Index’s results, indicating that countries with similar development policy behaviour have similarities in debt policy behaviour, with one exception: Greece. On the basis of this study, it is concluded that EU development policy framework content in terms of external debt and debt practices are not congruent. The understanding of this disparity between the policy outline and differences in long-term practices is relevant in both, reaching the UN’s Millennium Development Goals, and in the actual process of developing development aid.

Crystal And Molecular Structure Of A Dimethyl Sulphoxide Complex With Lanthanum Nitrate, La(No3)34.(Ch3)2so

The crystal structure of the complex La(NO3)3.4(CH3)2SO has been solved by the heavy-atom method. The complex crystallizes in the monoclinic space group C2/e with four formula units in a unit cell of dimensions a= 14.94, b= 11.04, c= 15.54 A and fl= 109 ° 10'. The parameters have been refined by threedimensional least-squares procedures with anisotropic thermal parameters for all atoms except hydrogen. The final R index for 1257 observed reflexions is 0.094. The La 3 + ion is coordinated by ten oxygen atoms with La-O distances varying from 2.47 to 2.71 A. The geometry of the coordination polyhedron is described.

Modeling and Forecasting Implied Volatility: Implications for Trading, Pricing, and Risk Management

Modeling and forecasting of implied volatility (IV) is important to both practitioners and academics, especially in trading, pricing, hedging, and risk management activities, all of which require an accurate volatility. However, it has become challenging since the 1987 stock market crash, as implied volatilities (IVs) recovered from stock index options present two patterns: volatility smirk(skew) and volatility term-structure, if the two are examined at the same time, presents a rich implied volatility surface (IVS). This implies that the assumptions behind the Black-Scholes (1973) model do not hold empirically, as asset prices are mostly influenced by many underlying risk factors. This thesis, consists of four essays, is modeling and forecasting implied volatility in the presence of options markets’ empirical regularities. The first essay is modeling the dynamics IVS, it extends the Dumas, Fleming and Whaley (DFW) (1998) framework; for instance, using moneyness in the implied forward price and OTM put-call options on the FTSE100 index, a nonlinear optimization is used to estimate different models and thereby produce rich, smooth IVSs. Here, the constant-volatility model fails to explain the variations in the rich IVS. Next, it is found that three factors can explain about 69-88% of the variance in the IVS. Of this, on average, 56% is explained by the level factor, 15% by the term-structure factor, and the additional 7% by the jump-fear factor. The second essay proposes a quantile regression model for modeling contemporaneous asymmetric return-volatility relationship, which is the generalization of Hibbert et al. (2008) model. The results show strong negative asymmetric return-volatility relationship at various quantiles of IV distributions, it is monotonically increasing when moving from the median quantile to the uppermost quantile (i.e., 95%); therefore, OLS underestimates this relationship at upper quantiles. Additionally, the asymmetric relationship is more pronounced with the smirk (skew) adjusted volatility index measure in comparison to the old volatility index measure. Nonetheless, the volatility indices are ranked in terms of asymmetric volatility as follows: VIX, VSTOXX, VDAX, and VXN. The third essay examines the information content of the new-VDAX volatility index to forecast daily Value-at-Risk (VaR) estimates and compares its VaR forecasts with the forecasts of the Filtered Historical Simulation and RiskMetrics. All daily VaR models are then backtested from 1992-2009 using unconditional, independence, conditional coverage, and quadratic-score tests. It is found that the VDAX subsumes almost all information required for the volatility of daily VaR forecasts for a portfolio of the DAX30 index; implied-VaR models outperform all other VaR models. The fourth essay models the risk factors driving the swaption IVs. It is found that three factors can explain 94-97% of the variation in each of the EUR, USD, and GBP swaption IVs. There are significant linkages across factors, and bi-directional causality is at work between the factors implied by EUR and USD swaption IVs. Furthermore, the factors implied by EUR and USD IVs respond to each others’ shocks; however, surprisingly, GBP does not affect them. Second, the string market model calibration results show it can efficiently reproduce (or forecast) the volatility surface for each of the swaptions markets.

ErbB-2 expression and its association with other biological parameters of breast cancer among Indian women

Overexpression of the epidermal growth factor receptor family genes, which include ErbB-1, 2, 3 and 4, has been implicated in a number of cancers. We have studied the extent of ErbB-2 overexpression among Indian women with sporadic breast cancer. Methods: Immmunohistochemistry and genomic polymerase chain reaction (PCR) were used to study the ErbB2 overexpression. ErbB2 status was correlated with other clinico-pathological parameters, including patient survival. Results: ErbB-2 overexpression was detected in 43.2% (159/368) of the cases by immunohistochemistry. For a sub-set of patients (n = 55) for whom total DNA was available, ErbB-2 gene amplification was detected in 25.5% (14/55) of the cases by genomic PCR. While the ErbB2 overexpression was significantly higher in patients with lymphnode (χ2 = 12.06, P≤ 0.001), larger tumor size (χ2 = 8.22, P = 0.042) and ductal carcinoma (χ2 = 15.42, P ≤ 0.001), it was lower in patients with disease-free survival (χ2 = 22.13, P ≤ 0.001). Survival analysis on a sub-set of patients for whom survival data were available (n = 179) revealed that ErbB-2 status (χ2 =25.94, P ≤ 0.001), lymphnode status (χ2 = 12.68, P ≤ 0.001), distant metastasis (χ2 = 19.49, P ≤ 0.001) and stage of the disease (χ2 = 28.04, P ≤0.001) were markers of poor prognosis. Conclusions: ErbB-2 overexpression was significantly greater compared with the Western literature, but comparable to other Indian studies. Significant correlation was found between ErbB-2 status and lymphnode status, tumor size and ductal carcinoma. ErbB-2 status, lymph node status, distant metastasis and stage of the disease were found to be prognostic indicators.

Methylenetetrahydrofolate reductase gene polymorphisms and risk of acute lymphoblastic leukemia in children

Methylenetetrahydrofolate reductase (MTHFR) is a critical enzyme in folate metabolism and is involved in DNA synthesis, DNA repair and DNA methylation. Genetic polymorphisms of this enzyme have been shown to impact several diseases, including cancer. Leukemias are malignancies arising from rapidly proliferating hematopoietic cells having great requirement of DNA synthesis. This case-control study was undertaken to analyze the association of the MTHFR gene polymorphisms 677 C"T and 1298 A"C and the risk of acute lymphoblastic leukemia in children. Materials and Methods: Eighty-six patients aged below 15 years with a confirmed diagnosis of acute lymphoblastic leukemia (ALL) and 99 matched controls were taken for this study. Analysis of the polymorphisms was done using the polymerase chain reaction -restriction fragment length polymorphism (PCR-RFLP) method. Results: Frequency of MTHFR 677 CC and CT were 85.9% and 14.1% in the controls, and 84.9% and 15.1% in the cases. The 'T' allele frequency was 7% and 7.5% in cases and controls respectively. The frequency of MTHFR 1298 AA, AC, and CC were 28.3%, 55.6% and 16.1% for controls and 23.3%, 59.3% and 17.4% for cases respectively. The 'C' allele frequency for 1298 A→C was 43.9% and 47% respectively for controls and cases. The odds ratio (OR) for C677T was 1.08 (95% CI 0.48- 2.45, p = 0.851) and OR for A1298C was 1.29(95% CI 0.65-2.29, p = 0.46) and OR for 1298 CC was 1.31 (95% CI 0.53-3.26, p =0.56). The OR for the combined heterozygous status (677 CT and 1298 AC) was 1.94 (95% CI 0.58 -6.52, p = 0.286). Conclusion: The prevalence of 'T' allele for 677 MTHFR polymorphism was low in the population studied. There was no association between MTHFR 677 C→T and 1298 A→C gene polymorphisms and risk of ALL, which may be due to the small sample size.

Polarization reversal studies in ferroelectric taap

Telluric Acid Ammonium Phosphate (Te(OH)62(NH4)H2PO4(NH4)2HPO4) reffered to as TAAP is a recently discovered class m ferroelectric.1 It undergoes FE-PE transition at 48°C. Switching studies in this crystal has been carried out in the temperature range -14°C to 39°C by applying fields up to 4 kV/cm. Measurements were carried out on (101) plates cut from the crystals grown from solution. X-ray irradiation was carried out at room temperature by means of an x-ray tube operating at 25 kV and 15 mA with copper target. Air drying silver paste was used as electrodes. Samples were checked for hysteresis loop using a modified Sawyer-Tower circuit. The Ps value obtained from the loop is 2.1 μC/cm2 which is comparable to the earlier reported value. It was however noticed that the loop was slightly shifted to right with respect to the origin indicating the presence of a small internal bias which was 100 V/cm in the virgin crystal. This bias could not be removed even after repeated crystallization. On irradiation the internal biasing field increased which was indicated by a further shift of the hysteresis loop. The bias seems to saturate at about 750 V/cm for which the crystal had to be irradiated for about 3 hours.

Tris(tert-butyl 3-oxobutanoato-kappa O-2(1),O- )-aluminium(III) at 153 K

In the title complex, [Al(C8H13O3)(3)], a potential metal-organic chemical vapour deposition (MOCVD) precursor, three bidentate ligand molecules are bound to the metal atom, forming an octahedral geometry. Two non-planar six-membered chelate rings adopt screw-boat conformations, while the third ring has a conformation that lies about halfway between an envelope and a screw-boat.

Kymmenen koirarodun perinnöllinen monimuotoisuus

Tämän tutkimuksen tavoitteena oli selvittää koirarotujen sisäistä ja välistä perinnöllistä muuntelua ja populaatioiden rakenteita. Tutkimuksessa käytettiin Finnzymes Oy:ltä saatua koirien mikrosatelliittimerkkeihin perustuvaa genotyypitysaineistoa. Lopullisessa aineistossa oli 395 koiraa kymmenestä keskenään varsin erilaisesta rodusta. Koirien määrä rotua kohti vaihteli 31:stä 53:een. Tutkimuksessa käytettiin 18 mikrosatelliittilokusta. Alleelirikkaus vaihteli mikrosatelliittilokuksissa välillä 2,0 – 9,9. Kaikkein muuntelevin lokus oli AHT137 ja vähiten muunteleva AHTk211. Jackrussellinterrierin alleelirikkaus oli yli kaikkien lokusten tarkasteltuna suurinta ja cavalier kingcharlesinspanielin pienintä. Eniten Hardy-Weinbergin tasapainosta poikkeavia mikrosatelliittilokuksia oli schipperke- rodulla. Coton de tulearin, saksanpaimenkoiran ja suomenlapinkoiran kaikki mikrosatelliittilokukset olivat Hardy-Weinbergin tasapainossa. Cavalier kingcharlesinspanielin havaittu heterotsygotia-aste oli matalin kaikkien lokusten yli tarkasteltuna (0,50) ja suomenlapinkoiran korkein (0,73). Ainoat tilastollisesti merkitsevät FIS-arvot olivat schipperken lokuksessa INU030 (0,39) ja kaikkien lokusten yli tarkasteltuna (0,11). Eniten populaatioiden välisiin eroihin perustuvaa muuntelua oli cavalier kingcharlesinspanielin ja pitkäkarvaisen collien välillä (FST = 0,34) ja vähiten chihuahuan ja coton de tulearin välillä (FST = 0,07). Koko aineistossa noin 17,7 % populaatioiden välisestä geneettisestä muuntelusta johtui populaatioiden välisistä eroista. Rodut ovat tulosten perusteella selvästi erillisiä populaatioita. Coton de tulearin alleeliparit olivat selvästi eniten kytkentäepätasapainossa keskenään (94) ja tiibetinspanielin vähiten (15). Pitkäkarvaisen collien tehollinen populaatiokoko oli pienin (35) ja chihuahuan suurin (86). U seiden populaatiogeneettisten tunnuslukujen perusteella nousivat esiin cavalier kingcharlesinspanieli, pitkäkarvainen collie ja schipperke perinnöllisen muuntelun vähäisyyden perusteella ja chihuahua, jackrussellinterrieri ja suomenlapinkoira keskimääräistä suuremman perinnöllisen muuntelun perusteella. Selityksiä geneettisen monimuotoisuuden vaihteluun näillä roduilla löytyy rotujen historiasta.

H-1, C-13, N-15 assignments of the dimeric regulatory subunit (ilvN) of the E. coli AHAS I

Acetohydroxyacid synthase (AHAS) is an enzyme involved in the biosynthesis of the branched chain amino acids viz, valine, leucine and isoleucine. The activity of this enzyme is regulated through feedback inhibition by the end products of the pathway. Here we report the backbone and side-chain assignments of ilvN, the 22 kDa dimeric regulatory subunit of E. coli AHAS isoenzyme I, in the valine bound form. Detailed analysis of the structure of ilvN and its interactions with the catalytic subunit of E. coli AHAS I will help in understanding the mechanism of activation and regulation of the branched chain amino acid biosynthesis.