Economic freedom, inclusive growth, and financial development: A heterogeneous panel analysis of developing countries.

The effective and efficient management of financial systems and resources fosters a socioeconomic climate conducive to technological and innovative advancement, thereby fostering long-term economic growth. The study used panel data from 72 countries classified as less financially developed between 2009 and 2017 to examine the role of economic freedom and inclusive growth in financial development. For the long-run estimations, we utilised the linear dynamic panel GMM-IV estimator, panel corrected standard errors (PCSE) linear regression method, and contemporaneous correlation estimator, a generalised least squares method. Our analyses indicate that economic liberty, inclusive growth, and capital stock significantly contribute to financial development in a positive manner. Moreover, inclusive growth contributes positively to overall financial development by enhancing economic freedom. Regardless of exogenous and endogenous shocks, we found that the tax burden and investment freedom are negative drivers of financial development as measured by the overall financial development index. In contrast, protection of property rights, government spending, monetary freedom, and financial freedom are positive and significant drivers of economic growth.

Dynamic and physical clustering of gene expression during epidermal barrier formation in differentiating keratinocytes.

The mammalian epidermis is a continually renewing structure that provides the interface between the organism and an innately hostile environment. The keratinocyte is its principal cell. Keratinocyte proteins form a physical epithelial barrier, protect against microbial damage, and prepare immune responses to danger. Epithelial immunity is disordered in many common diseases and disordered epithelial differentiation underlies many cancers. In order to identify the genes that mediate epithelial development we used a tissue model of the skin derived from primary human keratinocytes. We measured global gene expression in triplicate at five times over the ten days that the keratinocytes took to fully differentiate. We identified 1282 gene transcripts that significantly changed during differentiation (false discovery rate <0.01%). We robustly grouped these transcripts by K-means clustering into modules with distinct temporal expression patterns, shared regulatory motifs, and biological functions. We found a striking cluster of late expressed genes that form the structural and innate immune defences of the epithelial barrier. Gene Ontology analyses showed that undifferentiated keratinocytes were characterised by genes for motility and the adaptive immune response. We systematically identified calcium-binding genes, which may operate with the epidermal calcium gradient to control keratinocyte division during skin repair. The results provide multiple novel insights into keratinocyte biology, in particular providing a comprehensive list of known and previously unrecognised major components of the epidermal barrier. The findings provide a reference for subsequent understanding of how the barrier functions in health and disease.