Economic Slowdown in India: An Introductory Analysis

The devastating effect of Covid19 on the Indian economy is by now well-known. The growth rate of the economy slumped to a negative figure in the year 2020-21. What is less talked about, however, is the fact that growth slowdown in India had started several years before the pandemic struck. The two questions that naturally arise are: what explains the long economic slowdown and what can be done about it. This book is an in-depth analysis of the economic slowdown in India in recent years and the reasons behind the persistent slowdown in the growth rate of the Indian economy in the 2010s, especially in the latter half of the decade. While discussing both macro- and microeconomic policies, the volume examines how the perspective on economic policy has evolved over time in consonance with experience by investigating major instances of such slowdowns in the past. Three global slowdowns (viz. the Great Depression of 1929, the stagflation induced by the oil crisis of the 1970s and the Global Financial Crisis of 2007) and the industrial deceleration in India in the late 1960s and early 1970s are discussed. The author also probes into the problems of inequality, poverty, inflation in the Indian economy pre- and post- pandemic and policies targeted towards development, manufacturing, and distribution of vaccines. The book further discusses possible economic impacts of the Ukraine War and the long-term problem of global warming. Concise and thoroughly researched, this book will be of interest to beginners, scholars, research students and teachers interested in economics, policy making and development studies. © 2023 Asis Kumar Banerjee.

Cardiopulmonary exercise testing in patients with long covid

ObjectiveExamine the relationship between symptoms and exercise physiological parameters in patients with long covid.MethodsPatients with long covid symptoms 6–12 months after covid19 infection referred to the long covid clinic were invited for Cardiopulmonary Exercise Testing (CPET). None had required ventilatory support during covid19 infection. All patients had normal transthoracic echocardiograms and normal resting flow-volume curves and gas transfer measurements. All patients underwent standard cycle ergometer symptom-limited CPET. Treatment guided by the CPET was offered and follow-up CPET was performed at 3 months.Results32 patients had a first CPET. The commonest symptoms were breathlessness (30/32), fatigue (26/32), cough (7/32), ‘brain fog’ (6/32) and chest pain (5/32). The main CPET physiological abnormalities were a borderline low peak oxygen uptake (mean 82.5% predicted), a low anaerobic threshold (AT, mean 47.6% of predicted maximal oxygen uptake) and a low oxygen uptake/work rate slope (mean 9.4 ml/min/W). The oxygen pulse curve flattened early in exercise, but peak oxygen pulse was normal (mean 88.9%).20 patients underwent a second CPET. 14 patients had improved symptoms: breathlessness (11/20), fatigue (9/20), cough (2/20), ‘brain fog’ (3/20) and chest pain (0/20). Symptom improvement was associated with a rise in peak oxygen uptake (to mean 85.3% predicted) and oxygen pulse (to mean 94.1% predicted) although both remained within the normal range. The AT remained low (mean 46.4% predicted maximal oxygen uptake). The ventilatory equivalent for carbon dioxide (VE/VCO2) was normal 28.6 L/L at AT.6 patients with unchanged symptoms had a reduction in oxygen pulse to mean 81.5% predicted compared to the first CPET but a rise in VE/VCO2 to 33.7 L/L at AT.ConclusionsLong covid is associated with impaired peak oxygen uptake, AT and oxygen pulse. This suggests an oxygen delivery or uptake disorder or deconditioning. The transthoracic echocardiograms were normal suggesting a disorder at the muscle level.A targeted treatment programme based on CPET improves symptoms and physiological parameters in long covid patients.Patients with unchanged symptoms after 3 months of treatment had persistent physiological abnormalities but appeared to develop features of dysfunctional breathing syndrome.

You sneeze, and the markets are paranoid: the fear, uncertainty and distress sentiments impact of the COVID-19 pandemic on the stock–bond correlation

Purpose: This paper investigates the influence of three different sentiment indicators on the time-varying stock–bond correlation of 15 countries during the global crisis period of the coronavirus disease 2019 (COVID-19) pandemic. Design/methodology/approach: The author uses the time-varying correlation estimated using the autoregressive moving average -dynamic conditional correlation - generalised autoregressive conditional heteroskedasticity (ARMA-DCC-GARCH) model to achieve this aim. The impact of investor sentiment on the stock–bond correlation was analysed using the Markov regime-switching regression. Findings: The study results show that the sentiment indicators of fear, uncertainty and distress have a pronounced negative impact on the stock–bond correlation. They further provide evidence of a strong regime effect on the stock–bond correlation with sentiment indicators. Practical implications: The paper has a relevant impact on policymakers and fund managers. First, the policymakers now have more insightful evidence of how the stock and bond markets react during crises. Second, the fund managers need to focus on behavioural variables as they may be driving factors in crisis periods that may impair portfolio management. Originality/value: To the best of my knowledge, the paper is the first to throw light on the behaviour of the stock–bond correlation for 15 countries during the COVID-19 period. © 2022, Emerald Publishing Limited.

Mutation Hot Spots in Spike Protein of SARS-CoV-2 Virus

Spike (S) protein of Corona viruses help in receptor attachment and virus entry into the host cells. While S protein is required for virus entry, it is also important as an immunogen as it is the most accessible part of the virus architecture. S protein form knob like structures (viral spikes) protruding outwards in the form of homotrimers containing an S1 and S2 as monomers. Mutations in structural proteins of virus play crucial role in determining virulence and also in many instances influencing emergence of antibody escape variants and cellular tropism. In this paper we have performed in depth analyses of spike protein sequences from various parts of the world and tried to correlate the data with possible functional relevance of such mutations.