Measuring persistence in nominal exchange rate: Implications for Angola’s entrepreneurship and business development

The purpose of this paper is to measure the degree of persistence in the Kwanza to US Dollar exchange rate. First, our results indicate that nominal exchange rates both in levels and in first differences are I(0), thus implying that the relative purchasing power parity hypothesis for Angola is not rejected. Secondly, we find a significant degree of persistence in both the formal and informal nominal exchange rates. Thirdly, the degree of persistence in the official market is significantly lower than in the formal market, while In first differences, persistence in the official exchange rate is substantially higher than in the informal exchange rate. Lastly, we could not find strong evidence that persistence has changed in levels throughout the sample period. By contrast, there is significant evidence that persistence in first differences has consistently increased after September 2003. These results have important policy implications as the National Bank of Angola is preparing to change its monetary and exchange-rate policy focus to a more inflation-targeting regime and to a more a flexible (or low-managed) exchange-rate regime.

Social competence and career development: validation of a scale with secondary students

This paper presents a validation study of the Perceived Social Competence in Career Scale (SCCarS). The sample included 571 adolescents, 283 girls (49.6%) and 287 boys (50.3%), aged 14 to 25 years old (ì=16.33±1.41), 10th and 11th grade students attending secondary schools in the northern, central and southern Portugal. Exploratory factor analysis indicates the presence of eight factors, with eigenvalues superior to 1.00, explaining 79.16% of the total variance of the items. Confirmatory factor analysis provided support to the factorial structure of eight factors, with adequate fit indices (X2/df=4.229, CFI= 0.909, GFI= 0.869, RMSEA= 0.079, p= 0.000). These results are consistent with the factorial structure found in previous studies carried out with Portuguese samples from 8th grade. Implications are drawn related to the need for further study of the psychometric characteristics of the SCCarS with young people from different age groups