Impact of the COVID-19 Outbreak on the Currency Exchanges of Selected Countries

The paper aims to analyse the impact of the COVID outbreak on the currency market. The study considers spot rates of seven major currencies (i.e., EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, USD/CHF, and CHF/JPY). To capture the impact of the outbreak on returns and the volatility of returns of seven currencies during pandemic, the study has segregated in two window periods (i.e., pre- [1st Jan 2019 to 31st Dec, 2019] and post-outbreak of COVID-19 [1st Jan, 2020 to 22nd Dec, 2020]). The study has applied various methods and models (i.e., econometric-based compounded annual growth rate [CAGR], dummy variable regression, and generalized autoregressive conditional heteroskedasticity [GARCH]). The result of the study captures the negative impact of the COVID-19 pandemic on three currencies—USD/JPY, AUD/USD, and USD/CHF—and positive significant impact on EUR/USD, GBP/USD, USD/CAD, and CHF/JPY. Investors can take short position in these while having long position in other currencies. The inferences drawn from the analysis are providing insight to investors and hedgers.

Распределение механических свойств древесины лиственных пород в годовых кольцах, выявленных методом сканирующего наноиндентирования

The paper presents the results of mechanical properties scanning by means of nanoindentation across the annual growth rings of deciduous trees wood, small-leaved lime (Tilia cordata) and common oak (Quercus robur) in particular. Significant variations in microhardness H and Young’s modulus E radial dependencies have been found for any of the studied species. Results can be useful 1) to amend the understanding the nature of macromechanical properties of various wood species and to reveal the details of their formation depending upon microstructural characteristics, 2) to optimize the technologies of growing, reinforcement and subsequent usage of the wood, 3) to develop new independent methods in dendrochronology and dendroclimatology

Change in hippocampal volume in children with febrile seizure at different periods

Background This study aimed to investigate the change of hippocampal volume in children at different periods after febrile seizure. Methods MRI of the brain was performed in 60 children with febrile seizure (30 patients with simple febrile seizure and 30 patients with prolonged febrile seizure) and in 30 healthy children. The volume of the hippocampus was tested and compared at different periods after febrile seizure. Results The volumes of hippocampus in the two febrile seizure groups increased compared with that of the control group in acute period after seizure. There was no obvious difference in hippocampal volume between the simple febrile seizure group and the prolonged febrile seizure group in the acute or chronic period after seizure. The average annual growth of hippocampal volume in the simple febrile seizure group was greater than that in the prolonged febrile seizure group. Conclusions Febrile seizure can affect hippocampus volume in the acute stage of convulsion. Prolonged febrile seizure affects hippocampus development with aging.

Research on Energy-Related CO2 Emissions Characteristics, Decoupling Relationship and LMDI Factor Decomposition in Qinghai

Based on the statistical data from 1997 to 2017, with the utilization of the IPCC carbon accounting method, Tapio decoupling model, and Logarithmic Mean Divisia Index (LMDI), the temporal evolution characteristics of Qinghai’s energy-related carbon emissions, the decoupling relationship, and its driving factors were analyzed. The results indicated that 1) The carbon emissions of Qinghai showed a trend of first slowly increasing, then rapidly increasing, and finally fluctuating and decreasing. It increased from 3.85 million tons in 1997 to 14.33 million tons in 2017, with an average annual growth rate of 6.79%. The carbon emission intensity revealed a steady downward trend, from 189.82 tons/million CNY in 1997 to 54.6 tons/million CNY in 2017, with an average annual growth rate of –6.04%. 2) The relationship between carbon emissions and economic growth was represented by four types: weak decoupling, strong decoupling, expansion negative decoupling, and expansion coupling. Among them, a strong decoupling was achieved only in the five periods of 1997–1998, 1999–2000, 2001–2002, 2013–2015, and 2016–2017. 3) The structural effect of energy consumption was the paramount factor in restraining carbon emissions, followed by the energy intensity effect, while economic growth, and population size were important factors facilitating the increase in carbon emissions. To this end, Qinghai should continuously optimize its energy structure and improve energy utilization efficiency, thus achieving economic green and high-quality development.

Growth, Instability and Decomposition Analysis of Nutri Cereals in Tamil Nadu

Aim: The study was undertaken to know the growth rate, instability, and contribution of area and yield on the production of Nutri cereals. Place and Duration: The study was based on the secondary data for the period of 20 years (2001- 2020) for Tamil Nadu. Data has been collected from Agricultural statistics at a glance (2020), Season and Crop report (2020). Methodology: The growth rate of Nutri cereals can be estimated through compound annual growth rate, instability is measured using Coppock’s instability index and contribution of area and yield on production is studied using decomposition analysis. Results: Results revealed that Nutri cereals growth rate is found to be negative in first decade and positive in second decade Production of Nutri cereals in both the decades found positive in decline trend. The trend of productivity seems positive for both the decades at declining rate. Instability index is higher in terms of production than area and productivity. Area effect was most responsible for the production of Nutri cereals than yield and interaction effect. Conclusion: The area effect is more responsible for production of Nutri cereals. Area effect on production of Nutri cereals is high, hence government should intervene in this regard to improve the area of Nutri cereals cultivation.

Warmer spring temperatures in temperate deciduous forests advance the timing of tree growth but have little effect on annual woody productivity

As the climate changes, warmer spring temperatures are causing earlier leaf-out1–6 and commencement of net carbon dioxide (CO2) sequestration2,4 in temperate deciduous forests, resulting in a tendency towards increased growing season length1,4,5,7–9 and annual CO2 uptake2,4,10–14. However, less is known about how spring temperatures affect tree stem growth, which sequesters carbon (C) in wood that has a long residence time in the ecosystem15,16. Using dendrometer band measurements from 463 trees across two forests, we show that warmer spring temperatures shifted the woody growth of deciduous trees earlier but had no consistent effect on peak growing season length, maximum daily growth rates, or annual growth. The latter finding was confirmed on the centennial scale by 207 tree-ring chronologies from 108 forests across eastern North America, where annual growth was far more sensitive to temperatures during the peak growing season than in the spring. These findings imply that extra CO2 uptake in years with warmer springs10–12 is not allocated to long-lived woody biomass, where it could have a substantial and lasting impact on the forest C balance. Rather, contradicting current projections from global C cycle models2,3,17,18, our empirical results imply that warming spring temperatures are unlikely to increase the woody productivity or strengthen the CO2 sink of temperate deciduous forests.

EFFECTS OF DISORGANIZED URBANIZATION ON ENVIRONMENT

Having overcome a stage of accentuated growth in urbanization (a 93% increase since 1950), today high levels are being maintained, but with a certain equilibrium. The countries whose urbanization levels have grown most are Colombia and Brazil, with an average annual growth of nearly 1.3% between 1950 and 2015.According to BBVA Research, urbanization in Latin America began earlier than in other regions and has managed to develop at a much faster pace. In addition, and keeping in mind the characteristics of Latin America, this increase in the levels of urbanization has greater merit, if one takes into account the low levels of income, capital, employment and productivity.In spite of the positive data on its development and growth, urbanization continues to be concentrated in a very limited number of cities. Only Mexico and Brazil have more than a dozen cities with over a million inhabitants, while countries such as Uruguay and Paraguay don´t have more than two cities with a population of more than one million residents.

EFFECTS OF DISORGANIZED URBANIZATION ON ENVIRONMENT

Having overcome a stage of accentuated growth in urbanization (a 93% increase since 1950), today high levels are being maintained, but with a certain equilibrium. The countries whose urbanization levels have grown most are Colombia and Brazil, with an average annual growth of nearly 1.3% between 1950 and 2015.According to BBVA Research, urbanization in Latin America began earlier than in other regions and has managed to develop at a much faster pace. In addition, and keeping in mind the characteristics of Latin America, this increase in the levels of urbanization has greater merit, if one takes into account the low levels of income, capital, employment and productivity.In spite of the positive data on its development and growth, urbanization continues to be concentrated in a very limited number of cities. Only Mexico and Brazil have more than a dozen cities with over a million inhabitants, while countries such as Uruguay and Paraguay don´t have more than two cities with a population of more than one million residents.

Green TFP Heterogeneity in the Ports of China’s Pilot Free Trade Zone under Environmental Constraints

In the context of China’s Pilot Free Trade Zone (FTZ), ports have a new opportunity to realize high-quality development. Based on the analysis of the current situation of pollutant emissions from ports in China’s Pilot Free Trade Zones (FTZs), this paper introduces environmental factors into the analysis framework of the total factor productivity (TFP) of ports in China’s FTZs, and uses the Global Malmquist–Luenberger index method to analyze the evolution trend and heterogeneity of green TFP in 28 ports of China’s 19 FTZs from 2011 to 2017. The results show that firstly, the emissions of sulfur dioxide (SO2), nitrogen oxides (NOX) and other pollutants in China’s FTZs have been decreasing year by year. Secondly, both the green TFP and the traditional TFP of the ports in FTZs are on the rise. The absence of environmental factors leads to the underestimation of the TFP of ports. For the green TFP, the main source of its growth is technological progress. Thirdly, there is obvious port heterogeneity in the green TFP of FTZ ports. Nanjing Port has the highest green TFP growth rate, with an average annual growth rate of 21.95%. Ningbo Port, which ranks 14th, has an average annual growth rate of 5.46%. Fuzhou Port, which is rated last, has negative growth. Fourthly, there is also obvious types and regional heterogeneity in the green TFP of FTZ ports. When categorized by type, the average annual growth rate of green TFP in inland ports is significantly higher than that of coastal ports. When categorized by region, the descending order of the average annual growth rate of green TFP is the western region, the eastern region and the central region. Fifthly, the green TFP differences among the eastern, central, and western regions, as well as between inland ports and coastal ports, are shrinking. Moreover, the green TFP differences within inland ports and coastal ports and within central ports and eastern ports are also shrinking, implying there may be σ convergence. The conclusions of this paper have important implications for the scientific understanding of the heterogeneity of green TFP growth in ports in China’s FTZs, and how to promote the green development of ports in China’s FTZs under environmental constraints.