REGIONAL CONVERGENCE AND R&D INVESTMENT: APPLIED INVESTIGATION IN PORTUGAL

R&D investments are seen has having an enormous potential impact on the competitive position of regions and perhaps on regional convergence (or divergence) too. The aim of the paper is to study both the localization of R&D investments and regional income distribution among the NUTs 3 regions of Portugal to conclude if these variables are related or not. To study the spatial convergence (approximation) of per capita income (GDPpc) and R&D investments in the regions of Portugal, we use a standard methodology of spatial econometrics. We conclude that regions with higher GDPpc are not the same with the highest concentration of R&D investments, with the exception of the northern coastline. The R&D investments are geographically linked to the network of higher education institutions, especially in the interior regions of the country. The northern regions reveal more dynamic in terms of R&D, which apparently is not felt in the population's standard of living measured by GDPpc.

O papel da custódia de títulos financeiros nos mercados financeiros internacionais: mercados auto compensados e não compensados

Este relatório de estágio tem como objetivo descrever e contextualizar aspetos práticos relativos ao funcionamento dos mercados financeiros que não são habitualmente abordados nos manuais sobre este tipo de mercados. O relatório tem por base o estágio profissional realizado no BNP Paribas Securities Services, que proporcionou contacto direto com várias práticas, principalmente no domínio da prestação de serviços de custódia de títulos financeiros. A custódia é um serviço de post-trading, com grande relevância para a gestão e manutenção dos títulos financeiros e abrange todos os procedimentos que decorrem da negociação, de entre os quais se destacam aqueles que dizem respeito à distribuição de rendimentos; The AUD’s (assets under custody) role in the international financial markets: auto compensated markets and non compensated markets Abstract: This report aims to describe and contextualize practical aspects related to the functioning of financial markets that are not usually addressed in handbooks on such markets. The report is based on a professional internship at BNP Paribas Securities Services, which provided direct contact with various practices, particularly in the provision of financial securities custody services. The custody is a post-trading service, with great relevance for the management and maintenance of financial securities and covers all the procedures resulting from the negotiations, of which are especially relevant those relating to the distribution of income earnings.