Excessive volatility in financial markets can disrupt economic activity, affect investor and consumer confidence, and potentially lead to financial crises in an economy. Due to this backdrop, this study examined the link between asset class volatility and the output gap in Nigeria. The asset classes were categorized into stock, crude, gold, and bitcoin. The study adopted the GARCH and Bayesian VAR approach and found that all share index has an initial negative impulse with output gap while other asset classes have a positive impulse on output gap. The outcome of this study revealed to both policymakers and economists the potential risks and vulnerabilities of asset class volatility in the economy. Based on this result, recommendations are made amongst which is the strengthening of the Nigerian stock market to help with the inflationary pressures this is because the Nigerian stock market hurt the output gap also, the government should prioritize investing in crude, gold, and bitcoin to push the actual output to full capacity, which brings about employment.

This paper presents an analytical framework to assess the probability of achieving nationally determined contributions (NDC). The prediction model based on the Kaya identity is used to simulate the pathway of carbon emission until the target year. Applying the modified STIRPAT framework (named CO-STIRPAT) to data observed in South Korea shows that the probability that the predicted pathway with existing climate technology will stay above the NDC target pathway is significantly high. The result suggests that it is necessary to design a climate policy to improve energy intensity and carbon intensity by accelerating the advance in climate technology.

By introducing time to build, which creates a time-lag between government investment and the accumulation of productive capital, into an analysis of fiscal stimulus to the economy with financial frictions, we find that the effectiveness of fiscal policy is dampened. While the weakening effects of time to build become significantly weaker alongside with a higher fraction of government bonds allocated to leverage-constrained banks, which can be explained by a high correlation between time to build and financial frictions in both worsening balance sheet conditions of banks. Furthermore, the stimulus effects of public investment become stronger associated with shorter time-to-build period.

Trust beneficiary protection constitutes an important legal system in the trust industry. This paper, based upon the study approach of the “Theory of Law and Finance”, establishes the trust beneficiary protection index of China. We also test the influence of trust beneficiary protection on the performance of trust companies. As indicated by our study’s results, an “inverted U-shaped” relationship exists between the degree of trust beneficiary protection and the performance of trust companies. In a period when the trust law system has not yet been well established, strengthening trust beneficiary protection could help facilitate the growth of trust company performance. However, this facilitation effect gradually diminishes as the trust law system becomes more perfect. This in turn means that, after reaching a certain peak, conferring the beneficiary with more rights of supervision and participation would cause the performance of trust companies to decline. Improving regional legal environments could also help facilitate the growth of trust company performance. In addition, this facilitation effect is subject to the influence of the nature of trust company controllers. In trust companies controlled by local state-owned capitals, we find that the facilitation effect of the improvement of regional legal environments on trust company performance is inhibited. In trust companies controlled by non-state-owned capitals, however, the facilitation effect of the improvement of regional legal environments on trust company performance is enhanced.

The precise prediction of carbon emissions trading prices is the foundation for the stable and sustainable development of the carbon financial market. In recent years, influenced by a combination of factors such as the pandemic, trading regulations, and policies, carbon prices have exhibited strong random volatility and clear non-stationary characteristics. Traditional single-perspective prediction methods based on conventional statistical models are increasingly inadequate due to the homogenization of features and are struggling to adapt to China's regional carbon emissions trading market. Therefore, this paper proposes a multi-perspective fusion-based prediction method tailored to the Chinese market. It leverages carbon emissions trading information from key cities as relevant features to predict the price changes in individual cities. Inspired by the development of artificial intelligence, this paper implements various time series models based on deep neural networks. The effectiveness of the multi-perspective approach is validated through multiple metrics. It provides scientific decision-making tools for domestic carbon emissions trading investors, making a significant contribution to strengthening carbon market risk management and promoting the establishment and rational development of a unified carbon market in China.

In this study, we examined the efficiency of cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), DASH, EOS, and MONERO from March 1, 2018, to March 1, 2023. We separated the sample into four subperiods for this purpose: a Tranquil period that includes the period from March 1, 2018, to December 31, 2019; a First Wave that includes the year 2020; a Second Wave that includes the year 2021; and a fourth subperiod that includes Russia's invasion of Ukraine in 2022-2023. The results are mixed, with some cryptocurrencies exhibiting equilibrium and others exhibiting autocorrelation and predictability in their pricing. When the sample is divided into subperiods, most digital currencies have long memories in their returns during the Tranquil period, BTC, LTC, and XRP exhibit efficiency during the First Wave of the pandemic, while BTC, ETH, and MONERO indicate efficiency during the Second Wave. Most assessed digital currencies showed equilibrium by 2022, with the exception of ETH and MONERO, which exhibit long memories, and LTC, which demonstrates anti-persistence. These results hold significance for investors in these alternative markets, as they suggest that some cryptocurrencies may be more predictable and therefore potentially profitable, whereas others may require greater caution and risk management strategies.

Public diplomacy is a significant factor in promoting policy communication, people-to-people bonds, and the protection of foreign assets between two nations, but there is little research on the economic worth of public diplomacy. Python was used to crawl the daily search frequency of "China", "African countries", and related terms to construct the heat index of China-Africa public diplomacy during 2011-2019, and a two-way fixed effect model was developed to examine the impact of public diplomacy on China’s outward foreign direct investment (OFDI) in Africa. The empirical results show that public diplomacy has a considerable favorable effect on China’s OFDI in Africa, and after a series of robustness tests, the basic conclusion still holds. Heterogeneity tests show the investment promotion effect of public diplomacy is more pronounced in sub-Saharan Africa and that the promotion mechanism exhibits the characteristics of poverty alleviation and risk aversion. In addition, the promotion effect of public diplomacy on China’s OFDI becomes greater as time goes on. In terms of impact mechanisms, public diplomacy may promote OFDI by enhancing financing capacity and improving national governance. The research conclusion has policy implications for promoting China-Africa public diplomacy and investment cooperation in the new era.

Cervical cancer is defined as a cancer arising in the cells of cervix that causes unusual vaginal bleeding, discharges, pain in the pelvic region, or pain during sexual activity. Cervical cancer is currently reported to be the fourth most prevalent malignancy among women globally. Surgery includes pelvic lymphadenectomy as well as radical hysterectomy, radiotherapy, as well as chemotherapy are the most common therapies for treating cervical cancer. Another approach includes targeted medication which affects the epidermal growth factor receptor (EGFR) and cyclooxygenase-2 (COX-2) for the curing cervical cancer. However, these therapies have the potential for risks and complications: surgery can result in bleeding and may cause organ damage surrounding the surgery, and clots may also start to form in the deep veins of the legs; radiotherapy can result in menopause, infertility, discomfort, or pain during intercourse; and chemotherapy can actually impact rapidly dividing cells along with cancer cells in the human body system. In this review, we will discuss about the use of several Randomised controlled trials (RCTs) for treating malnutrition in various oncology patients. In this review, we will discuss about the various therapeutic effects of natural products isolated from different microorganisms in treating cervical cancer.

We quantify financial returns to backers in reward-based crowdfunding projects on Kickstarter and show that such investments provide profitable opportunities in addition to non-monetary benefits. The average unconditional annualized return is 11.5% and the average return on successful projects is 30%. Hence, backing money near the end of a campaign, when the probability of success is already high, is a profitable strategy. The most attractive is the Design category, where successful projects yield 73%, on average. Short-term projects are more profitable than long-term ones. Financial return is an important type of extrinsic motivation in reward-based crowdfunding, which has generally been neglected in academic literature. Reward-based crowdfunding outperforms other forms of crowdfunding and other common alternative investments.

Previous literature shows that the price-discovery ability of options market varies substantially over time. Using data of Shanghai Stock Exchange 50 exchange-traded fund options, this paper shows that options prices contribute relatively less to price discovery during low-sentiment periods, but the price-discovery ability of options market remains unchanged during high-sentiment periods. These results suggest that change in aggregate investor sentiment is an important source of the time variation in options’ price discovery ability. Moreover, the options market experiences greater bid-ask spreads when investor sentiment is lower, supporting a “transaction costs mechanism.” This paper fulfills related literature on the time variation in options’ price-discovery ability.

The objective of this study is to explore the link between the financial sector, macroeconomic fluctuations, and sustainable energy production in South Asia. It evaluates existing research, identifies gaps, and suggests future directions. The study emphasizes the need to understand how economic activities influence the environment and how environmental factors impact economic and financial outcomes. It also examines financial market responses to understand the manifestation of economic and environmental factors, using data from Bangladesh, India, Pakistan, and Sri Lanka spanning 1987 to 2022. The results show that investment in green energy is essential for developing countries. The study suggests that the relationship between the region's stock market, GDP, carbon emissions, and green energy is complex, with a negative response to domestic credit indicating potential obstacles to investment, such as policy barriers or insufficient incentives. Mixed responses highlight the need for credit directed towards sustainable projects. Variations in responses across economic indicators may indicate policy challenges or structural issues, necessitating a reassessment of government policies to incentivize sustainable investments and promote green technology adoption. These results imply that policymakers should precisely assess the environmental ramifications of economic growth and stock market activities. This presents an opportunity to craft policies that guide investments toward cleaner technologies and industries, aligning economic growth with sustainable practices. Policymakers and financial institutions should explore ways to incentivize green energy investments and promote sustainable economic growth.

The use of All-Terrain Vehicles (ATVs) has gained considerable attention within the recreation industry. The incorporation of ATVs into tourism and recreational activities has demonstrated substantial economic potential for local economies. However, there is a lack of comprehensive knowledge regarding the economic impact of ATV recreation. This paper conducts an extensive review of existing literature from 2004 to 2022, evaluating the economic impact of ATVs on local economies in the United States. The review aims to identify commonalities and disparities among existing economic impact studies and assess whether these studies have included costs associated with ATV-induced environmental, societal, and public health damages in their economic assessments. To this end, there is a scarcity of scientific peer reviewed journal articles that exclusively focus on the economic impact of ATVs. As such, we reviewed a total of seven publications comprising reports. The results of our analysis shed light on similarities and differences in aspects of resident and non-resident ATV spending, type of ATV expenditures, and the approaches used to evaluate economic impact assessment. The findings indicate that existing studies have assessed the economic impact of ATVs solely based on gross expenditures, lacking comprehensive inclusion of the costs associated with ATV damages to the environment, society, and human health. This study advocates for the need for a more comprehensive consideration of both benefits and costs in the economic impact of ATVs to assist ATV business managers, policymakers, and researchers in making informed decisions and planning future programs.

Cardiovascular disease is still a disease with high incidence rate and mortality. Although advanced technology continues to increase our understanding of cardiovascular disease, its diagnosis and treatment still have limitations. As an emerging interdisciplinary method, nanotechnology has shown enormous clinical application potential. Nanomaterials have unique physical and chemical properties, which help to improve the sensitivity and specificity of biosensor technology and molecular imaging technology in the diagnosis of cardiovascular diseases. This paper first summarizes the versatility of nanomaterials, the physicochemical adjustability of biomolecular engineering, the design strategy of nanoparticles in cardio cerebral Vascular disease, the application of nanomaterials in the diagnosis and treatment of common cardiovascular diseases, and the use of nanomaterials can significantly improve the diagnostic sensitivity, specificity and therapeutic effect. Subsequently, the article summarized various nanomaterials. Finally, the article demonstrated the potential of the antioxidant/anti-inflammatory and photoelectric/photothermal properties of nanomaterials to be directly applied to the treatment of cardiovascular diseases.

 In the past, researchers investigated the immune response acting against mycobacterial antigens in tuberculosis (TB). Several ELISA tests have been conducted for the diagnosis of tuberculosis. Other researchers manipulated 16 kDa antigen from Mycobacterium Tuberculosis to develop a tuberculosis diagnostic test while some others studied the subspecies of M. tuberculosis. In the present study, we explored the possibilities of detecting 16 kDa protein derived from M. tuberculosis, on an interdigitated electrode (IDE). Measurements with Electrochemical impedance spectroscopy and current-volt systems were demonstrated using antibody as the probe.  Further, the involvement of gold nanoparticle for the signal-enhancement and high-performance are evidenced. The specificity in the serum containing samples is used to show the clinical relevancy. 16 kDa antigen used in this experiment is highly reliable for TB diagnosis as it largely expresses and can be implemented in other sensing system.

Transition metal sulfides/transition metal phosphides (TMS/TMP) has shown great potential in cancer diagnosis and treatment due to its unique structural, optical, acoustic and magnetic properties. TMS/TMP can be formed from sulfur/phosphorus source and metal into binary compounds, or from the interaction of hydrogen sulfide (or hydrogen sulfuric acid) with metal oxides or hydroxides. It has a series of unique properties, such as high conductivity, metalloid properties, a variety of valence states and adjustable structure and so on. These advantages make it have great potential in biomedical applications, such as diagnostic imaging, disease therapy and drug/gene delivery. This review presents the latest research progress of TMS/TMP on tumor imaging, diagnosis and treatment. Here, we first illustrate the synthesis approaches and surface modification of TMS/TMP. Then, its emerging applications in tumor diagnosis and therapy are highlighted. Moreover, the challenges of TMS/TMP-mediated diagnosis/treat are provided and the prospective for this field are discussed.

In this study, the time-varying pattern of returns with the trading cost is assessed in light of sanctions on the Russia’s economy. The analysis is performed on the Moscow Exchange Index (MOEX) using the ordinary least squares (OLS) method, Bayes’ Theorem technique, and vector error correction model (VECM). Firstly, the transparency of asset’s value in the same trading period was noted to execute the trade with a limited price impact. Thus, the liquidity seems not priced in returns. In addition, the posterior probability of the transparent asset’s value stabilized the market at a limited transaction cost. In this case, there is less likelihood of liquidity acting as a risk element in returns during the same trading session. These results correspond to the era without sanctions, as well as economic restrictions period. Before the economic restrictions, the execution of investment occurred on its real or close value due to the market transparency in the following trading period. This implies, that the past trading cost series is not priced in yields on investment. During the Russia-related sanctions, a higher price impact of transaction was noted due to the ambiguity in the future asset’s value. Therefore, the past liquidity series is a pricing element in the short run and long run. The analysis suggests a potential inference of trading cost to determine the yield on investment.

Liquidity and its associated issues are one of dominant strands in the market microstructure. In this study, microblogging-based behavioral perspective on economic unrest is linked to the market liquidity. The concept of liquidity is examined in terms of price dispersion relative to the quantity traded. The analysis contains the quantification of multiple linear regression, Gaussian distribution technique, and vector error correction methodology. In the economic stability period, the investor’s mood, either in positive manner or pessimistic context, had an influential role on the price impact volume-based liquidity. Meantime, the probability was higher for occurrence of price impact volume-based liquidity in response to the sentiment indicators. In the economic unrest environments, the positive bias investor’s mood was not vigorous enough to influence the dispersion of asset’s prices and trading quantity. Most importantly, the negative bias investor’s emotion was linked to increase the dispersion of asset’s prices relative to the quantity traded. Investors with a lower amount of trading quantity had declined the liquidity in the market. Additionally, there was a higher probability for occurrence of illiquidity in the pessimistic market periods. However, changes in past sentiment series were not associated with changes in pervious liquidity series, either in short run or long run. The findings may be potentially applicable to manage the behavioral perspective of liquidity risk.

The long-term low level of residents' property income is not only detrimental to the wealth accumulation of farmers, but also aggravates the urban-rural income imbalance. This paper uses an empirical approach to explore the mechanism of digital literacy's impact on farm households' property income. The main findings of this paper are as follows: (1) Digital literacy and its sub-dimensions can significantly increase the level of farmers' property income, with the strongest contribution of digital information acquisition literacy. (2) Digital literacy has a greater boosting effect on the property income of farm households with low education level heads, low physical capital households, and villages with better economic development. (3) Digital literacy increases the property income of farm households mainly through expanding social capital and improving risk preferences. The innovation of this paper is to construct a digital literacy evaluation index system based on a micro perspective that fits the behavioral characteristics of farmers, and reveal the impact and mechanism of digital literacy and its sub-dimensions on farmers' property income. This study expands the theoretical research related to digital literacy and farmers' property income, and provides a scientific basis for the choice of strategies to enhance the digital literacy of the majority of farmers, which is important for promoting wealth accumulation of farmers and achieving common prosperity.

We explore the connectedness and portfolio implications between Islamic and conventional bonds in global and GCC regions. We also compare which bonds performed better during our sample period. Unlike previous studies, we focus on Islamic bond markets compared to their conventional counterparts and highlight the GCC bonds (Islamic and conventional) in respect of global bonds. We apply the DCC-GJR-GARCH (1,1) method, the Sharpe ratio, and the portfolio implications strategy over the period from September 1, 2013, to February 23, 2022. Our time-varying results suggest that the relationship among all variables varies over time, but most of them are positive, suggesting that there are fewer diversification opportunities between Islamic and conventional bonds. Hedging and diversification benefits are found only in the limited period among these variables, especially between GCC bonds and global bonds, and global Sukuk and GCC Sukuk. The findings of risk-adjusted returns reveal that Islamic bonds outperform their conventional counterparts. Moreover, mixed results are found in the case of hedging costs, and the majority of the fund, based on optimal weights, should be invested in Islamic bonds. Our study endows investors and regulators in the global and GCC markets with new insights on how to shield their investments and the financial system from financial crises through a hedging strategy with Islamic finance.

This study investigates the impact of financial inclusion on environmental sustainability in 178 emerging and developing countries from 1996 to 2022. Employing a composite index derived through Principal Component Analysis (PCA) as a measure of financial inclusion and covering four aspects (access, depth, efficiency, stability), our analysis reveals negative outcomes. The findings indicate that enhancing financial inclusion is associated with a notable increase in CO2 per capita emissions as well as in Total Greenhouse Gas emissions. We demonstrate that controlling corruption improves environmental quality, yet this measure alone is insufficient to fully mitigate the impact of financial inclusion, as indicated by our moderation analysis. The same analysis, however, shows that fostering globalization through trade openness is an efficient tool to alleviate the positive effect of financial inclusion on the quality of the environment. The study employs various policies targeting the control of development levels, energy consumption, natural resource utilization, industry, and urban population dynamics to contextualize the influence of financial inclusion on environmental sustainability. Through econometric methods and a comprehensive examination of the specified time frame, our results provide insights into the complex interplay between financial inclusion and environmental outcomes in diverse socio-economic contexts. The research contributes to the discourse on sustainable development by highlighting the potential of certain factors as a catalyst for environmental improvement. Understanding these dynamics is crucial for policymakers, as it underlines the trade-off between integrating inclusive financial strategies and achieving environmentally sustainable development trajectories in emerging and developing nations. Moreover, shedding light on the underlying mechanisms, such as trade-offs, fills a significant gap in the literature.