This paper aims at explaining the volatility of two main macroeconomic variables (interest rate and exchange rate) that impact the cost of international capital and, consequently, the international financing decision. Firstly, the main economic theories are called to illustrate the relevant determinants of these variables from the perspective of demand and supply of capital sides. The state intervention through monetary policy is introduced to emphasize the alteration of these prices (the price of capital, the price of foreign currencies). The paper is presenting the role of these prices in international financing decision (based on the theoretical model used to estimate cost of international capital), their impact on the foreign direct investment decision and on the international portfolio investment decision. Finally, the paper describe the economic consequences of the monetary public intervention on the financing and investment decision in direct connection with the business cycle theory. The paper associates the monetary policy to the business cycles. The paper comments the unsound solutions proposed against the economic crises and that continued to harm negatively these prices generating the seeds for next international economic recession. The paper is a theoretical one, containing some very interesting research hypothesis and opening the paths for presumable further empirical researches.
The complexity of the current economic development environment in Europe, as a result of the extremist-terrorist phenomenon, coupled with the accentuation of the economic and technological differences among the world’s states, has generated and continues to generate new risks and threats to the communities of people. The attack on civilian targets in Europe, by members of criminal groups has resulted in casualties within human communities. Because some terrorist-extremist organizations are criminal groups that have a specific organization, logistics, specific training and education systems that cannot work without having material and financial resources. As a result, one of the most effective ways to fight the threat of terrorist organizations is to combat terrorism financing.
World economy is frequently affected by fluctuations that occur recurrently with a certain periodicity. The predictability of economic fluctuations is low. Frequency and magnitude of cycles is generally reduced. Economy cycles belong to the economy’s DNA. It is measured by different indicators, but the most important is GDP. There are four types of economic cycles: Kitchin (Stocks), Juglar (Investment), Kuznets (Infrastructure), Kondratiev (Technological Innovation). Right now, science and technology are going through major changes that lead to an economic crisis of the Kondratiev model. Fiscal and monetary policy can alleviate fluctuations. Theories explaining economic cycles: overinvestment (misallocation of rare resources), Keynesiana (insufficient aggregate demand), monetarist (lack of monetary discipline), real business cycle (aggregate supply in change), neo Keynesiana (market imperfections), consensus (all factors considered). The financial cycle has been little considered so far. The financial cycle greatly influences the economic cycle, finances allocate resources and creates purchasing power. The financial cycle has a different structure than the economic one. It can use fiscal and monetary policies to direct it. The only paradigm that links the economic and financial cycles is the Austrian economic paradigm. In practice and current economic theory, there is a desire for a coincidence in time between the phases of the economic cycles of the various state entities of the United States and a convergence of evolution towards the same qualitative and quantitative characteristics. This implies an identity of cultural, historical, economic, political, and psychological evolution of the EU, which can not be achieved even between close regions of the same national state. The lack of barriers to the circulation of economic information (goods, services) between regions will lead to an approximate coincidence of economic evolution, but starting from the psychic structure of the inhabitants of a region, the cultural, religious and cultural heritage passing through the capital, the economic zones differ and to force them in different directions will lead to unnecessary fragmentation lines. The anticipated outcome of the study: It is desirable to leave economic areas to evolve in their own terms rather than leveling and uniforming them by economic manipulation techniques. It is preferable to use the method of scientific abstraction and deductive apriorism during the study.
Background and Aims. The interactions between kidney and thyroid functions are well established: thyroid hormones are necessary for the maintenance of electrolyte and water homeostasis and kidney is involved in the regulation of thyroid hormones metabolism. The aim of our study was to estimate the prevalence of thyroid dysfunction in patients with diabetes mellitus and chronic kidney disease (CKD). Material and Method. 23 patients with diabetes mellitus and CKD in pre-dialysis phase were recruited for this study. All subjects were investigated with thyroid ultrasound and laboratory tests to determine thyroid function, including: serum triiodothyronine (T3), free thyroxine (free T4), thyroid-stimulating hormone (TSH) and antithyroid peroxidase antibodies (ATPO). Results were compared with the same measurements in 21 patients with diabetes mellitus but without CKD. Results. The prevalence of goiter (52.17% vs. 19.04%, p<0.05), subclinical hypothyroidism (23.80% vs. 9.52%, p<0.05), hypothyroidism (8.69% vs. 4.76 %, p<0.05) and low T3 syndrome (23.80% vs. 0.00% p<0.05) were significant high in diabetic patients with CKD compared with patients with diabetes mellitus but without CKD. Conclusions. We observed high prevalence of thyroid morphology abnormalities and thyroid function disorders in diabetic patients with CKD. Low T3 syndrome and subclinical hypothyroidism are the most frequently thyroid function disorders in CKD patients.
Acquired immunodeficiency syndrome (AIDS) is a human immune system disease characterized by increased susceptibility to opportunistic infections, certain cancers and neurological disorders. The syndrome is caused by the human immunodeficiency virus (HIV) that is transmitted through blood or blood products, sexual contact or contaminated hypodermic needles. Antiretroviral treatment reduces the mortality and the morbidity of HIV infection but is increasingly reported to be associated with increasing reports of metabolic abnormalities. The prevalence and incidence of diabetes mellitus in patients on antiretroviral therapy is high. Recently, a joint panel of American Diabetes Association (ADA) and European Association for the Study of Diabetes (EASD) experts updated the treatment recommendations for type 2 diabetes (T2DM) in a consensus statement which provides guidance to health care providers. The ADA and EASD consensus statement concur that intervention in T2DM should be early, intensive, and uncompromisingly focused on maintaining glycemic levels as close as possible to the nondiabetic range. Intensive glucose management has been shown to reduce microvascular complications of diabetes but no significant benefits on cardiovascular diseases. Patients with diabetes have a high risk for cardiovascular disease and the treatment of diabetes should emphasize reduction of the cardiovascular factors risk. The treatment of diabetes mellitus in AIDS patients often involves polypharmacy, which increases the risk of suboptimal adherence