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PDF Ebook The biological nature of prostate cancer – a basis for new treatment approaches

The statistics for prostate cancer make alarming reading and set undoubted challenges for oncological research. In the Western world, where the incidence is highest, a man has a 10–11% chance of developing clinically apparent prostate cancer, and a 3–4% chance of dying from the disease [1]. Worldwide the incidence of prostate cancer is rising annually by 2–3% [2]. In 1986 a quarter of a million cases of prostate cancer were diagnosed and at least half a million cases were expected by the turn of the last century [2,3]. In many countries prostate cancer is now the second leading cause of cancer-related death [4] and in Northern Europe it has already taken number one position as the leading cause of cancer-related death in males [4]. The incidence has increased recently, largely due to better and earlier detection, but also because of the general aging of the world’s population and hence an increase in the proportion of men aged over 65 years old in whom the disease is known to be prevalent. In the USA, although signs are that the rate of increase in incidence is falling slightly, it is predicted that in the next 50 years the number of deaths from this disease could increase by 50% [5]. Translated into actual figures these statistics mean that, in the USA in 1999, there were an estimated 179,300 new cases and 37,000 deaths [6]. Similarly, in Europe, assuming that age-specific rates of prostate cancer remain at 1980 levels, the number of men aged over 65 years with prostate cancer is expected to rise from 79,453 in 1990 to 92,240 in 2000. The rise will be most pronounced in those countries with the greatest increase in life expectancy – France, Germany and Spain – and will be further exacerbated as the post-war ‘baby-boomers’ reach their fifties [5].

Despite its high incidence, knowledge and understanding of the pathophysiology of prostate cancer remains rudimentary. A clearer understanding of the biological nature of the disease could have a real impact on its management. Much progress has been made towards understanding the development and progression of prostate cancer and the factors, which drive the development of androgen independence.

Ebook Efficiency in Emerging Markets - Evidence from the Emirates Securities Market

The analysis of the efficient market hypothesis has attracted a great deal of interest in recent time. The efficient market hypothesis is based on the assumption that at any given time, prices of stocks fully reflect all the available information related to them. According to this, a stock market is seen as more efficient if market relevant information is incorporated into assets prices. Under fully efficient markets, past information should not affect returns in present period. In other words, the “efficient stock markets do not allow investors to earn more above-average returns without accepting above verage risks” (Malkiel 2003, p. 60). It is believed to be an application of rational expectation theory to the pricing of stocks.

A very important issue to be highlighted at this stage is that market efficiency does not mean that the market price of a stock should equal the true value of the stock. What it means is that errors in the market price, i.e. over or under valued of the true value, should be unbiased and randomly deviated. Based on this argument, the existence of random deviation prevents investors from finding those over or under valued stocks.

PDF Ebook Did The Debt Crisis or the Oil Price Decline Cause Mexico's Investment Collapse

This paper proposes a simple investment model that permits a test of the relative importance of Mexico's terms of trade decline, the reversal in net capital inflows, and the debt overhang, in explaining Mexico's investment decline in the early 1980's. The paper uses previously unexploited sectoral investment data between 1981 and 1985 to estimate the quantitative importance of these explanations. The data indicate that the main microeconomic mechanism driving the investment decline was the rise in the relative price of investment goods, and further that the deterioration in Mexico's international terms of trade explains most of the increase in this relative price. Our preferred estimate is that about two-thirds of the investment decline was attributable to the terms of trade decline, while the termination of capital inflows explains the remaining third. The paper finds little evidence in favor of other debt crisis effects such as the debt-overhang effect or several other more subtle effects that have been proposed in the literature.

This paper proposes a simple investment model that permits a test of the relative importance of Mexico's terms of trade decline, the reversal in net capital inflows, and the debt overhang, in explaining Mexico's investment decline in the early 1980's. The paper uses previously unexploited sectoral investment data between 1981 and 1985 to estimate the quantitative importance of these explanations. The data indicate that the main microeconomic mechanism driving the investment decline was the rise in the relative price of investment goods, and further that the deterioration in Mexico's international terms of trade explains most of the increase in this relative price. Our preferred estimate is that about two-thirds of the investment decline was attributable to the terms of trade decline, while the termination of capital inflows explains the remaining third. The paper finds little evidence in favor of other debt crisis effects such as the debt-overhang effect or several other more subtle effects that have been proposed in the literature.

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