The Effects of Disability on You Essay Example | Topics and Well Written Essays - 500 words

The Effects of Disability on You - Essay Example At the point when my sibling was engaged with an auto collision, his arm was truly harmed to such an extent that the specialists needed to evacuate it. The main thing that fulfilled me is that he didn't lose his valuable life. In any case, the most testing thing I found in him is that he was unable to play out a portion of the assignments which require the utilization of two hands all alone. I built up a positive inclination towards him with the end goal that I would help him in finishing various errands he was unable to perform all alone. The fundamental point of my activity is to cause him to feel that he is much the same as some other ordinary person notwithstanding the way that he had lost his arm. I additionally needed to cause him to feel adored with the goal that he doesn't feel strange because of his physical inability. In view of the kindly love among me and my sibling, his inability affected me with the end goal that I could help him in performing undertakings that were som ewhat trying for him to do alone. I would assist my sibling with doing things like washing and pressing his garments. To be sure, he could play out a portion of these undertakings all alone yet he was confronting a few troubles. While he could do a portion of the things like washing, I would consistently give him help at whatever point I saw that he was encountering a few difficulties to do them. I would likewise assist him with conveying things which were substantial subsequent to understanding that he was unable to do it all alone. Much of the time, I would assist with playing out somewhat testing undertakings to such an extent that he would not strain the other hand. I identified a great deal with my sibling to such an extent that I could feel similar troubles he was experiencing.â â

Three Strikes Law Research Paper Example | Topics and Well Written Essays - 1500 words

Three Strikes Law - Research Paper Example Lately, the expanded populace of the US has been went with a developing number of crime percentages. Thusly, the Three Strikes Law was authorized to constrain the extent of wrongdoing and guilty parties in different expressed of the US. Washington and California were the underlying states in the US to receive Three Strikes Law in 1993 and 1994, separately. Since its execution, the law has been significantly affecting the jail populace. During the principal decade, after the implementation of law, over 80,000 second strikers and around 75,000 third strikers were sent to state jails (Three Strikes Information, 2005). It has essentially helped the state and central governments to diminish the quantity of brutal violations, along these lines upgrading the job and execution of equity framework rehearsed in the US. It merits referencing in such manner that the law applies for three rehashed feelings and not the three rehashed violations. In this specific situation, the Three Strikes Law is likewise pertinent to those convicts who have carried out various violations in rehashed cases. In any case, it ought to be noted in this setting the wrongdoings must be exposed to the classification of lawful offense in understanding to the ward rehearsed inside the country. As needs be, the law requires least of 25 years of detainment or life detainment for those guilty parties who have been sentenced for in any event three rehashed occurrences in view of submitting the lawful offense. Regardless of, the viability of the law numerous individuals have reprimanded and expressed the law as an irregular and unfeeling method of discipline.

GED Sample Essay Topics - Writing Essays For GED

GED Sample Essay Topics - Writing Essays For GEDThe GED sample essay topics will provide the student with samples of the types of topics that they will be expected to write during their entire GED course. The topics chosen will vary from one area to another. Students can choose topics that will help them in their writing abilities or can include topics that are common to all writers.The choice of topic for the GED is often determined by the subject that the student wants to write about. The subject may be personal or it may also be something that they have experience in. In order to select the appropriate topic, it is important for the student to have a clear understanding of the topic that they want to write on.Writing the GED essays should not be taken lightly. In fact, there are many great benefits of writing the GED essays and the advantages of writing it are numerous. However, it is important for students to be reminded of the importance of writing the GED essays and to read ove r the GED sample essay topics so that they are aware of what the GED essay topics should be like.The students can start out with writing a GED sample essay that is relevant to their area of interest. There are many examples that will help them write these types of essays. Students should choose topics that are relevant to their area of interest.After the students have chosen their topics, it is time for them to make their essays. They will need to set aside a specific amount of time that they will be allowed to spend on each essay. The students should use this time to brainstorm on their essays and then type up the essays.Once the students have done this, they should then begin to insert their own ideas and opinions into the essay. The students should not just copy what they read in the essay. Instead, they should add their own thoughts and opinions to the essay.After the students have finished their essays, they should then be able to read over the essays that they have written. It is very important for the students to feel comfortable with the work that they have written and to feel like they are getting their best work. Students should also feel confident about how they have completed the essays.Writing an essay is very time consuming and students should never make it difficult for themselves. Instead, they should set aside some time that they will be allowed to spend on each essay and they should be able to put the best possible effort that they can into the essays that they are writing. The work should not just be rushed through, but the students should make sure that they get the best that they can from each essay that they write.

Early Diagnosis of Acute Respiratory Distress Syndrome

Questions: Portray the degrees of association in the human body, naming the principle body frameworks. Break down the structure of an organ clarifying how the various tissues add to compelling capacity. Clarify the job of the key segments of a decent eating routine. Assess the impacts of three nourishing insufficiencies on wellbeing. Depict how starches, fats and proteins are separated genuinely and artificially. Dissect the issues related with protein absorption and clarify the significance of chemical actuation. Clarify the instruments by which the liver and the kidney hold glucose yet take out urea. Concerning the stomach related framework: (a)explain how reflexes add to the co-appointment of the framework, (b) look at the job of the sensory system with that of hormones in the co-appointment of the framework. Clarify the guideline of blood glucose levels utilizing negative criticism components. Answers: There are six degrees of association in the human body(Matusiak, 2013). These are: Compound level the smallest structure obstructs make an issue, for example, the iotas which structure atoms by consolidating with one another. Cell level the littlest unit of any living issue for example the cell makes up the cell level. Tissue level comparative cells which join together and play out a similar assignment comprise of the tissue level. Organ level when at least two unique sorts of tissue play out a specific capacity, those structure an organ. Organ framework level in this sort of authoritative leveltwo or more organs play out a comparable undertaking. Organismal level all the basic levels cooperate and structure the organismal level. The figure shows the stomach related framework. The capacity of the stomach related framework is to get the vitality and important supplements and synthetic compounds from the food we admission. The body framework in the figure is skeletal framework. The skeletal framework, which comprises of 206 bones (270 in infants), and a system of ligaments, tendons and ligaments, which interfaces the bones(Haywood, 2009). The skeletal framework can be separated into two sections, pivotal skeleton comprising of 80 bones which assists human with keeping up their upstanding stance and affixed skeleton which has a sum of 126 bones and ensures the organs and assists with our developments. The body framework in the figure is respiratory framework which is serves the accompanying capacity: Aspiratory ventilation for example inward breath and exhalation (A, 2012). Trading gases between the circulation system and the lungs. Trading of gases between the body tissues and the circulation system through inner breath. Formation of sound by vibrating the vocal strings. Areolar connective tissue this tissue comprises of the blood vessels which flexibly supplements and oxygen to the tissues(Thibodeau, Patton Anthony, 2012). Cardiovascular muscle tissue the ventricles and atria are shrunk by this tissue. Support of stance. Joint adjustment. Age of warmth as a result of compression. They associate or tie a wide range of tissues together and henceforth bolster the body. A mechanical system is given as a skeleton along these lines, playing out a significant capacity of locomotion(Woodson, 2003). The admission of food which contains all the necessary supplements in a right extent is known as a reasonable eating regimen (Veitch, 2012). Food models What is a serve Every day servings Bread 2 cuts 5 to 9 serves every day Rolls 1 roll Oats 1 cup Wheat scone 1 Pasta 1 cup Rice 1 cup Cooked veggies cup 4 to 5 serves every day Medium potato cup Cut carrot cup Broccoli cup Spinach cup Cauliflower cup Serving of mixed greens 1 cup 2 to 3 serves every day Any organic product 1 piece Organic product juice Little glass Raisins 1-2 tbsps Dried organic products 4 pieces Milk 250 ml 2 to 4 serves every day Yogurt 200 g Cheddar 40 g Custard 250 ml Improves stomach related wellbeing. Supports vitality. Ensures the heart. Fitting degrees of nutrient B12 help the issues that remains to be worked out solid and sound. Nerve harm is forestalled. The standpoint and temperament of an individual is additionally improved by it. Nutrient B12 bolsters the wellbeing of DNA and henceforth, helps in keeping up a new and youthful look. The figure shows an image of a reasonable eating regimen. The reason for it is to: Keeping up the soundness of heart. The board of weight. Upkeep of the resistant framework. Keeping the emotional well-being unblemished. The healthful lack is weakness. The impacts are: Brevity of breath. Cerebral pain and discombobulation. Briskness in the feet and hands. Fair skin. Chest torment. Fringe neuropathy. The sickness is rickets and is caused because of inadequacy of nutrient D. the impacts are: Breaks of bones. Lasting bone disfigurements. Low calcium levels in the blood subsequently, prompting seizures, breathing issue and spasms. Shortcoming of the heart muscle. The illness is scurvy brought about by a lack of nutrient C. The impacts are: Loss of craving. Poor weight gain. Fast relaxing. The spit in the mouth separates the polysaccharides which are available in the starches. The polysaccharidesare further separated in to disaccharides in the stomach by the activity of pancreatic amylase. The compounds lactase, maltase and sucrose are discharged by the small digestive system which separates the disaccharides into monosaccharide. The undigested starches arrive at the digestive organ and are separated into littler parts by the intestinal microbes. Fats are comprised of lipid chains. The lingual lipase separates the short chain of lipids into diglycerides. The small digestive tract contains some fat which helps in the incitement of the lipase discharge from the pancreas alongside liver discharging bile. These two follow up on the diglycerides and break up them into unsaturated fats. Protein goes into the stomach and gets followed up on by pepsin which separates it into littler parts. It further moves into the duodenum where the chemicals chymotrypsin and trypsin are discharged from the pancreas and break the protein into further littler parts. A substrate entering the dynamic site of protein. B protein substrate complex. C protein items complex. D Products leaving dynamic site. Hydrochloric corrosive. Pepsinogen can just unfurl and sever itself in the autocatalysis just within the sight of an acidic situation which is created by hydrochloric corrosive and consequently, produces pepsin which is the dynamic type of the catalyst which assists with stalling proteins. On the off chance that hydrochloric corrosive isn't produced the breakdown of protein won't happen. The state of the stomach when it can't shape hydrochloric corrosive is known as hypochlorhydria. The medications are: Taking enhancements for corrosive for a brief timeframe. Admission of ascorbic corrosive at high portions ideally during supper time. Taking betaine hydrochloride with food. Bowmans container Glomerulus Proximal tubule Distal tubule Gathering channel Circle of Henle The dynamic vehicle of glucose happens during processing. The starches are separated first into sugars and afterward into glucose. Through dynamic vehicle, the villi assimilate the glucose and goes into the circulation system to the body. The dynamic vehicle of glucose happens in the proximal and distal tangled tubules of the nephron. Filtration happens in the glomerulus of the nephron. Long reflexes or feedforward reflexes to the stomach related framework send data to the cerebrum through the tangible neuron. This reflex instigates responses to occasions which trigger risk or yearning in the gastrointestinal tract. Gastrointestinal reaction can likewise be activated because of enthusiastic reactions. The enteric framework itself can follow up on the tangible data of the stomach related framework. The enterogastric reflex which is a short reflex gets animated by the corrosive which is discharged either by the stomach or the duodenum and subsequently, brings about hindering the arrival of gastrin which smothers the emission of gastric corrosive alongside the gastric motility (Tarkka, 2014). Peristalsis or the motility of the GI tract is expanded by the gastrocolic reflex. Henceforth, the motility of the colon is raised because of the extending of the stomach and the nearness of the assimilation results in the small digestive system. The endocrine framework spreads the hormonal messages to the cells by emission in to the extracellular liquids and blood. A collector is required to get the message and is pretty much like a radio station. So as to reaction, the cells must have a receptor for the hormone that is being communicated. Signs are sent to the stomach related framework through pancreas to fix the ideal opportunity for starting their capacities. It controls just as balances out the disposition, development and advancement over some stretch of time (Rogers, 2012). The sensory system suggests the supreme utilization of nerve to nerve control while communicating something specific (Gray, 2004). The nature is electrical and consequently, it is quicker. The autonomic sensory system controls the stomach related capacities, for example, The salivary organs which discharge spit Gastrointestinal tract motility or peristalsis with the goal that the food can descend without any problem Creation of gastric corrosive in the stomach Opening and shutting of sphincter The arrival of hormones from the organs in the framework Capacity of vitality as fat So as to endure a steady domain is required by cells. Homeostasis is the procedure through which living creatures can keep up steady degrees of pH, temperature, water equalization and particles. Negative inputs control these systems. This incorporates the framework reacting to the adjustments in the earth through the arrival of hormones with the goal that a pattern in the body, regardless of whether high or low, can be turned around and reestablished to the ordinary r

China’s 1998 Summer Flood Disaster on the Tangtze

Jethro LeRoy Gibbs Ms. Shepherd Honors English 10 24 March 2013 Mighty Hell from the Yangtze China’s 1998 summer floods murdered a large number of individuals, influenced billions of individuals over the globe, left millions destitute, crushed or harmed a great many homes, influenced millions sections of land of land, and executed billions of dollars in their financial status.One terrible factor that assumed a tremendous job in the reinforcing of the mid year floods that China confronted and endured was human disregard (â€Å"Bad Planning†). In any case, one of the numerous noteworthy variables that are profoundly pivotal in flood control is the world’s biggest force station (â€Å"Three Gorges†) otherwise called the Three Gorges Dam. Without the Three Gorges Dam capacity of controlling the waterway floods, each mid year represents an incredible risk to the individuals who abide close to the Yangtze and its tributaries.But regardless of the entanglements w orried with the yearly stream floods, the Yangtze assumed a noteworthy job in building up many exchange courses for a long time (Wakeman 492). In any case, since the early first light of progress, the Yangtze River demonstrated to contain a portion of the lethal summer floods that China will ever understanding. The Yangtze is normally situated in the Eastern Lowlands, which likewise contains the greater part of China’s best farmland.In 1998, an assortment of surges of the Yangtze River brought about by deforestation, overpopulation, area, and inability to learn past errors all brought about a high number of passings, a large number of vagrants, hazardous water borne ailments, and the testimonial in the mechanical and rural status; nonetheless, the guide and backing of China’s government, the United Nations, China’s armed force and military, and the unification inside the individuals of China in the long run welcomed a superior acknowledgment on how the redundanc y of its mid year floods could have been evaded in the first place.In different words, the turmoil and testimonial that was suffered by the numerous that were influenced by China’s reiteration of its assortment of summer floods made the legislature, United Nations and supporting nations, armed force and the military, and the individuals a lot more grounded than previously, helping China to address its past missteps so as to forestall further difficulty socially and financially. One urgent actuality that one must watched was that the various human blunders that happened before the year 1998 and the inability to address them participated in the late spring flood disaster.Deforestation was the primary conspicuous human mistake, particularly and explicitly in the Eastern Lowlands where the valley of the Yangtze River was geographically found (Wakeman 492). Deforestation brought numerous ecological issues which supported the late spring surges of the Yangtze to build its size and the danger of harm (Lang). This occurred because of soil disintegration (Lang) and the evacuation of top soil (Gittings) which came about because of the absence of trees (Lang). Another ecological issue was the absence of firm top soil because of the absence of trees which can make water run-off, particularly close to a stream (Gittings).The primary concern was that deforestation made the rich top soil vanish or scatter making water run-off which consequently urged floods to expand its harm abilities (Lang). The developing populace of China additionally adds to the deforestation of China since individuals required land to live on. The second significant human blunder was overpopulation. Overpopulation in urban communities or zones inclined to savage catastrophic events is bound to bring about higher number of passings and causalities (Gittings). More individuals mean a more popularity in food, land, and harvests (Gittings) which aided caused deforestation in numerous zones along the Yangtze.The third significant human mistake was the area wherein they fabricated their immense urban communities and homes. Where there is a stream, there is the potential hazard or danger of a waterway flood. All through the mid year flood debacle, a huge number of individuals were power to either escape or clear their homes as whole towns were cleared out and crops continued overwhelming harm (Ansfield). Flooding was constantly a negative factor to numerous urban communities, towns, and enterprises which were fabricated generally near the Yangtze River in the Eastern Lowlands all through the eighteenth, nineteenth, and twentieth hundreds of years (Wakeman 492).Finally, the fourth significant human mistake was inability to improve after many flood calamities before the year 1998. The legislature needed more assets to start a total intend to maintain a strategic distance from summer flooding’s and calamities that tails it (Gittings). The administration needed on target, asse ts, work, and backing as indicated by this statement during the 1998 summer floods, where numerous Chinese flood casualties responded to an inquiry to who to accuse saying, â€Å"There was not something to be finished. China was excessively poor. China has an excessive number of people† (Gittings).Thus, numerous casualties pushed for development yet fizzled on the grounds that political force and complete social unification with the remainder of the nation was out of their group (Gittings). Most importantly human blunders not just set up the overwhelming Yangtze summer flood fiasco, yet in addition urged it to occur. There were extreme flood outcomes following China’s summer fiasco. To start with, the catastrophe adversely affected socially, where frenzy and mayhem guaranteed in a significant number of the overwhelmed lanes (Watson).But tumult wasn’t the main thing on overflowed avenues. Harms occurred in numerous business organizations, which were either harmed or devastated by the floods putting thousands unemployed (â€Å"YouTube†). As per a video recording the calamity, the whole avenues and significant roadways were totally overwhelmed, just leaving sewage and unsanitary flotsam and jetsam behind (â€Å"YouTube†). The subsequent outcome was unsanitary drinking water. In any event, flooding as a cataclysmic event can mess with the open drinking water making it harder to approach safe water (Watson).People who drink perilous water can hazard getting ailments and diseases, for example, diarrheal (Watson). This solitary put progressively negative focus on the casualties who were endeavoring to endure the debacle. The third result was basic harm complexities. Crumpled or harmed structures can make devastation and add more issues to the image as appeared in a video where it demonstrated rising waters encompassing underneath a harmed connect, loaded with caught survivors who were standing by to be saved (â€Å"YouTube†). Another case of basic harm was the achievement of numerous barriers and levees along the Yangtze River keeping down overwhelming rising waters to secure close by urban communities and mechanical focuses (Hutzler). Numerous dams were put in territories inclined to flooding particularly approach the modern communities and oil fields so as to shield them and shield them from influencing their financial status (Kurtenbach). The condition and quality of the numerous barriers truly was a passing and life circumstance for the administration, yet for the populace as well.Lastly, the fourth result was the ascent in medical problems. A model was the outrageous shortage of safe drinking water. Drinking hazardous water can build the danger of getting diarrheal sickness which precisely occurred in numerous urban communities influenced by the Yangtze floods (Watson). Likewise, numerous emergency clinics and centers were harmed, demolished, or totally lowered submerged which caused a deficiency in medication and clinical gear for the many flood casualties (Hutzler).As the rising waters influenced millions, negative wellbeing elements, for example, colds, stomach ailments, looseness of the bowels, hepatitis, and illnesses conveyed by waterborne parasites all undermined the flood casualties and those close by to which wellbeing Minister Zhang Wenkang himself attempted to caution that these components were on the ascent (Hutzler). The many flood outcomes profoundly carried destroying harms to China and promptly cautioned the individuals and the legislature that changes and arrangements in its general public was expected to forestall further flood catastrophes.Agricultural, financial, and mechanical harms were managed all through the late spring fiasco. Actuality: â€Å"Flooding across tremendous regions of China that started in June of 1998 had influenced in excess of 140 million individuals, annihilated 2. 9 million houses and destroyed 9,000,000 hectares of yields by July 15 † (â€Å"China Moves†). In horticulture, around 21 million hectares of land were submerged which upset fruitful cultivating and the development of yields (Harding). The grain creation of 1998 was hard to achieve for the flooding’s cut back about 11 million tons of summer grain reap (Harding).Also, cotton wheat and rice got hit the most exceedingly awful (Harding). Financially, misfortunes were assessed around 85. 6 billion Yuan. Farming and the economy were amazingly connected with one another. For instance, the cotton business was exceptionally influenced by the Yangtze summer floods (Harding). Despite the fact that it despite everything had enough cotton to create for the utilization of China, flooding despite everything harmed some cotton handle in this manner driving an abatement in its cotton sends out (Harding). At the end of the day, the decrease of cotton fares and imports significantly harmed its financial shipping.Thus, rural had a solid shared bond wit h the economy, a bond where one can get influenced and overwhelmingly sway the other. In any case, that wasn’t the main confusion, for billions of cash was spent by the administration (â€Å"1998†) to give food, water, and safe house to the flood casualties just as going through cash to tidy up and remake the influenced urban areas and grounds (Ansfield). One model that can be analyzed was a statement from the city hall leader of Qiqihar, â€Å"We need around three years to compensate for the substantial misfortunes brought about by the floods† (Gittings).When a catastrophic event hits so abruptly, the harms can be so serious and rebuilding of anything requires some investment and persistence. At last, the floods harmed the business of China. An aggregate of 335 oilfields were lowered submerged or influenced

How to Choose the Best Proposal Writing Services

How to Choose the Best Proposal Writing ServicesMany women would like to hire the services of a professional to write their proposals. Many women are not able to make up their mind on which type of proposal to write, but if they don't have a good idea how to write it, then this will be a major problem for them. They should know how to get professional proposals written by experts, without spending a lot of money.There are companies that offer these services. In some cases, they have a team of professionals working together to provide a great service. It is not easy to find a proposal writer that offers the services that you want. For this reason, it is best to research on these companies to find out which one offers the best services.To choose the right writing services, the first thing you should do is to know how the process works. You should ask them to provide a sample of the type of proposals they have written in the past. This way, you can check the style and the quality of the work they produce. You can also ask them for recommendations from previous clients.You should also consider their experience when trying to get them to work with you, as you may be able to use their experiences to generate various ideas for your proposal. For example, a company that specializes in corporate and partnership proposals might be able to give you suggestions about the type of partnerships you want to form with your investors. You can also get an idea from these people about what the requirements are of these investors. This will help you organize the whole project better.They should also show examples of the kind of work they have done in the past. Some people may be able to check their previous projects online to get more ideas about what they can do for your project. It will be helpful for you to check their portfolio, which can help you in deciding which proposal writers are good to work with. Good proposal writers will always provide samples of their work. If you ar e able to talk to their previous clients, you can ask them for examples of the projects they were able to complete. They should be able to give you a quick rundown of the projects they completed. If they are not very comfortable talking about their previous work, they may not be able to help you as much as they should.With the help of these tips, you can easily choose the best possible proposal writing services for your project. These experts have the skills and experience required to handle all types of writing projects. You can ask them to deliver your proposal in a short period of time, so that you will not have to spend a lot of time on it. The faster the project gets finished, the more of an impression it will make on your investors.Having a project completed fast is always better than having a project delayed. If you take time to research the best proposal writing services, you will be able to get your project finished much faster than you expected, and this will greatly incre ase your chances of getting the funds you need for your project.

The Vector Autoregressive Model Finance Essay - Free Essay Example

Researches on the causal relationship between equity prices and exchange rates have been conducted with various econometric methods. In this study, I employ the vector autoregressive model and dynamic Granger (1969) causality test to examine the relationship between the variables under study. Empirical studies which are premised on time series data assume that the underlying time series is stationary. On the contrary, many empirical studies have shown that this assumption is not always true and that a significant number of time series variables are non-stationary (Engle and Granger, 1987). Thus, employing a non-stationary time series data in a regression analysis may result in spurious results (Granger and Newbold (1974)). Therefore, embarking on studies involving time series data necessitates that stationary test is conducted to establish the underlying process of the data series. 3.1 Stationarity Test A data generating process is considered stationary if it has time-invariant first and second moments, and the covariance of two time periods is constant notwithstanding which time periods are used and the distance between them, Gujarati (1995). The process is said to be weakly stationary if the two first conditions are fulfilled but the covariance between two time periods depends on the distance between the time periods, but not on when it is calculated. If the process is stationary around a trend, it is said to be trend-stationary. There are a variety of unit root tests used in the econometric literature principally Augmented Dickey-Fuller (ADF), Dickey-Fuller, Phillip-Perron, Ng-Perron tests, etc to investigate whether the time series data used in a study are stationary or not. I employ the Augmented Dickey-Fuller to examine the stationarity of the variables. 3.1.1 Augmented Dickey-Fuller (ADF) Test The ADF model tests the null hypothesis that there is unit root, against the alternative hypothesis that there is no unit root in the regression. The regression for the ADF test is estimated as follows: (1) where represents the variable that we are examining its properties, is the difference operator, , and are the coefficients to be estimated, p is the chosen lag length, t is the time trend, and t is the white-noise error term. has a stochastic trend under the null hypothesis but under the alternative hypothesis is stationary. Generally, the lag length for conducting the ADF test is unknown but can be estimated using information criteria such as the Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC) applied to the regressions of the form in equation (1). If the Data Generating Process (DGP) is stationary in the data series at levels, then it will be concluded to be integrated of order zero, I (0). On the contrary, it is not always the case and the un derlying process of the data series may be non-stationary. In effect, the original series need to be transformed into a stationary state by taking difference (d) times. If after taking first difference of the series, it is found that they are all stationary then we can conclude that the DGP is integrated at order one, I (1). Moreover, if the original series used in the study are found out to be integrated of the same order, it is useful to test for cointegration relationship between the integrated variables. 3.2 Cointegration Test It is generally accepted that regression which involves non-stationary time series will lead to spurious results. However, Engle-Granger (1987) proposed that a linear combination of these non-stationary series may be stationary in which case we can say that the series are cointegrated. To compute the Engle-Granger test, let the vector denote the tth observation on N time series, each of which is known to be I (1). If these times series are cointegrated, there exists a vector such that the stochastic process with observation is I (0). However, if they are not cointegrated, there will be no vector with this property, and any linear combination of y1 through yN and a constant will still be I(1). The cointegration regression is estimated as follows: (2) With respect to this regression, it is assumed that all the variables are I (1) and might cointegrate to form a stationary relationship, and thus will result in a stationary residual term. The null hypothesis of non-cointegrati on is that the residual term is non-stationary. Unit root test is conducted on the residuals to find out whether they are stationary or otherwise. To this end, the ADF test is employed to conduct the unit root test. If the residuals are stationary, then one rejects the null hypothesis of non-cointegration. However, if they are non-stationary, then one accepts the null hypothesis of non-cointegration. 3.3 Vector Autoregressive (VAR) Model A vector autoregression is a set of k series of regressions in which the regressors are lagged values of all the k series. The underlying assumption of the model is that all variables are endogenous a priori, and allowance is made for rich dynamics. VAR models offer some level of flexibility and therefore easy to use for analysing multiple time series. This is against the backdrop that one needs not to specify which variables are exogenous or endogenous. However, there are still some difficulties associated with VAR models. In the first place, it is not easy to identify which variables have significant effect on the dependent variable. Also, there is a strict condition that all the data series in the VAR should be stationary. However, most financial time series are non-stationarity. In case the variables are found not to be stationary at levels, then according to Granger (1969), it is more appropriate to estimate VAR or Vector Error Correction Model depending on whether the series are cointegrated or not. The vector error correction model is discussed in the subsequent section. The simplest form of the VAR is the bivariate model. The bivariate model can generally be estimated as follows: (3) where ÃÆ'Æ’Â °Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ¢it is a white noise term with E (ÃÆ'Æ’Â °Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ¢it) = 0, E (u1tu2t) =0. 3.4 The Granger Causality Test According to Granger (1969) a variable X could be defined as causal to a time series variable Yif the former helps to improve the forecast of the latter. Thus, X does not Granger-cause Y if Pr (|) = Pr (|) (4) where Pr (.) is the conditional probability, is the information set at time t on past values of Y and is the information set containing values of both Xand Yup to time point t. If the variables are found not to be cointegrated, then the following VAR will be estimated and the Granger causality test is consequently conducted: (5) (6) where SI is the stock price, ER is the exchange rate of the Ghana cedi to the US dollar andare uncorrelated white noise terms, ln represents the natural log, ÃŽ difference operator and t denotes the time period. If the lagged coefficient of vector in equation (5) is significant but that of vector of in equation (6) is not significant then the results imply that there is unidirectional causality from exchange rate to stock price retur ns. However, if the lagged coefficient vector in equation (6) is statistically significant but the lagged coefficient vector in equation (5) is not statistically significant then the results imply that there is unidirectional causality from stock prices returns to exchange rate returns. Moreover, if the lagged coefficient vectors of both equations (5 and 6) are statistically significant then the results imply that there is a bidirectional causality from the stock returns and exchange rate returns. Finally, if both lagged coefficient vectors are statistically insignificant, then this implies that there is no causality between these variables. 3.5 Vector Error Correction Model (VECM) According to Engle and Granger (1987), the VECM is a preferable model to the VAR in equations (5 and 6) if it is found that there is cointegration relation between and or among the data series. The VECM discriminates between both the dynamic short-run and long-run Granger causality. The VECM equations are written as follows: where SI is the stock price, ER is the exchange rate, is the error correction term lagged one period; and are uncorrelated white noise terms. The error correction term () is derived from the long-run cointegration relationship between the variables. The estimates of the error correction term of () also shows how much of the deviation from the equilibrium state is corrected in each short period. To find out the presence of long-run causality between the two data series, one will test for the significance of the coefficient of the error correction term in equations (7 and 8) by employing the t-test. Finally the Wald or F-statistic is used to test for the joint significance of both the error correction term and the various interactive terms in equations (7 and 8). If the lagged coefficient vector of equation (7) is statistically significant but the lagged coefficient vector in equation (8) is not significant then the results imply that there is a unidirectional causality from exchange rate to stock price returns. However, if the lagged coefficient vector in equation (8) is statistically significant but the lagged coefficient vector in equation (7) is not statistically significant then the results imply that there is a unidirectional causality from stock prices returns to exchange rate returns. Moreover, if the lagged coefficient vectors of both equations (7 and 8) are statistically significant then the results imply that there is a bidirectional causality from the stock returns and exchange rate returns. Finally, if both lagged coefficient vectors are statistically insignificant, then this implies that there is no causality between the se variables. 3.6 Lag Length selection Criteria To estimate the VAR/VECM model requires choosing the lag length that reduces the information loss. Thus, choosing the lag length involves neutralizing the trade-off between adding more lags against the marginal benefit of additional estimation uncertainty. Thus, too many lags included in the model will lead to additional estimation errors and whiles too few lags may leave out potentially valuable information. To contain this problem, there are so many models to use to select the lag order, namely the Akaike Information (AIC) and Bayes Information Criteria (BIC). I use the BIC to determine the lag order to the estimate model and therefore I will discuss it briefly. The BIC and AIC are expressed as follows: (9) (10) where SSR(p) is the sum of squared residuals of the estimated AR(p). The BIC estimator of , is the value that minimizes BIC(p) out of the range of lags available. The SSR decreases as more lags are introduced, however the second term increases as more lags are introduced. Moreover, the amount of penalty in the second term of the AIC is relatively smaller to that of the BIC. Thus, the BIC awards more penalty factor relative to the AIC. This implies that BIC gives a consistent estimate of the true lag length unlike the BIC. This makes the BIC preferable to AIC which tends to overestimate the lag order with positive probability. Thus, the second term of the AIC is smaller compared to the BIC. 3.7 Test for Structural Breaks To test for structural breaks in the regression coefficients, I estimate an autoregressive distributed lag (ADL) with dummy variables to represent the periods before and after the redenomination of the cedi. Moreover, to choose the appropriate lag length for both the dependent and independent variables to include in the ADL, I estimate the regression equations with different lag lengths and compare the resulting BICs. In effect, the lag length that resulted in the lowest BIC is chosen to estimate the ADL and then the structural break test is conducted. The ADL is estimated as below: where SIt = stock price returns ERt = exchange rate returns Dt = Dummy variable where Dt = 1 if t à ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚ °Ãƒâ€šÃ‚ ¥ 3 July, 2007; Dt = 0 if t à ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚ °Ãƒâ€šÃ‚ ¤ 3 July, 2007 à ¢ÃƒÆ'†¹Ãƒ ¢Ã¢â€š ¬Ã‚  ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚   = difference operator T = time period; d, are the coefficients of the parameters Chow (1960) model test s for structural break in which case the break dates must be known a priori and the decision is made on the F-statistic that tests the null hypothesis of no break; against the alternate hypothesis that at least one of d is nonzero. Thus, in case of the Chow (1960) test, the investigator has to pick an arbitrary break date or pick a known date based on the feature of the data series. In effect, the results can be highly sensitive to these arbitrary choices and as the true break date can be missed. However, in this study, the break date is identified by the redenomination of the cedi. 3.8 The CUSUM of Squares Test In an attempt to test for the constancy of the variance, I employ the CUSUM of square test Brown et al. (1975). This test is principally based on the square of the residuals on the plot of the quantities. This test involves drawing a pair of critical lines on the diagram which is parallel to the mean value line so that the probability that the sample path crosses one or both critical lines is the significance level. If the sample path stays between the pair of critical lines without crossing any of the two lines, then one can conclude that the variance is constant over the period. However, movement outside of the critical lines implies parameter or variance instability. The CUSUM of squares test is based on the test statistic: (12) where the mean value of is given by: . (13)