Microcrédito e empoderamento de mulheres de baixa renda: uma análise do projeto “elas”

O microcrédito tem sido uma ferramenta de combate à pobreza no mundo todo nas últimas décadas. A ampliação do acesso ao crédito àqueles que não podem recorrer ao sistema financeiro tradicional tem se constituído como uma via democrática de fomento à inclusão social através da geração de trabalho e renda. Os empréstimos realizados têm demonstrado efeitos benéficos sobre a comunidades de baixa renda, especialmente em relação às mulheres, pelo desencadeamento de um processo de empoderamento com efeitos em sua capacidade de auferir renda, melhorar sua autoestima e ampliar sua participação em espaços de tomada de decisão. No Brasil, as mulheres são a maioria dos tomadores de microcrédito e a justificativa para isso perpassa pelas dificuldades relativas ao mercado formal, a necessidade de complementação da renda familiar, o desejo de maior emancipação frente aos companheiros e a busca pela realização num pequeno empreendimento próprio. Em Fortaleza (CE), o Banco Palmas criou um projeto de empoderamento de gênero, focado em beneficiárias do Programa Bolsa Família, a partir da concessão de microcrédito. A presente dissertação teve como objetivo analisar as dimensões do processo de empoderamento alcançadas pelas mulheres participantes deste projeto, intitulado como projeto “ELAS”. A hipótese inicial era a de que a nova capacidade economicamente produtiva das entrevistadas modificaria sua realidade, colocando-as em um novo patamar frente a si mesmas e às suas famílias, proporcionando maior autonomia em suas decisões de consumo e independência financeira frente a seus maridos, além do aumento de seu bem-estar. Nesse caso, o microcrédito serviria como um fomentador do empoderamento individual feminino, hipótese comprovada neste estudo. Entretanto, notou-se que não houve um rompimento das relações de gênero no âmbito das famílias, fator perceptível principalmente pela não redistribuição das tarefas domiciliares, com impactos restritivos no empoderamento social dessas mulheres através da não participação em instâncias coletivas de tomada de decisão.

Inflation targeting, credibility and confidence crises

We study the interplay between the central bank transparency, its credibility, and the ination target level. Based on a model developed in the spirit of the global games literature, we argue that whenever a weak central bank adopts a high degree of transparency and a low target level, a bad and self conrmed type of equilibrium may arise. In this case, an over-the-target ination becomes more likely. The central bank is considered weak when favorable state of nature is required for the target to be achieved. On the other hand, if a weak central bank opts for less ambitious goals, namely lower degree of transparency and higher target level, it may avoid condence crises and ensure a unique equilibrium for the expected ination. Moreover, even after ruling out the possibility of condence crises, less ambitious goals may be desirable in order to attain higher credibility and hence a better coordination of expectations. Conversely, a low target level and a high central bank transparency are desirable whenever the economy has strong fundamentals and the target can be fullled in many states of nature.

Visões das gerências da auditoriainterna da Petrobras sobre a sua estratégia de atuação em facedas práticas de mercado e da nova modelagem organizacional da companhia

The purpose of this study is to identify the strategic vision of the Internal Audit Department of Petrel Brasileiro S.A. PETROBRAS, in comparison with the audit function's proposals and practices in competitive organizations and their reality. It also aims at the verification of the possible solutions, within Petrobras itself, so as to constantly add value to the business and to the shareholders. With this in mind, a research was carried out, contemplating the conceptual proposals and market practices related to auditing and to the current diagnosis and the organizational model of Petrobras, so as to choose elements for comparison and analysis of such vision. The results of this research pointed in the direction of questioning the organizational value of the internal audit action, concluding that it will only be possible to continuously attain such value by means of a permanent coordination with the organization's strategic level. This is especially true if the audit action participates effectively in the process of Corporate Governance, in defining the risks, the internal control system and the measurement of corporate performance, as related to the development of the strategic plan. However, any action along these lines is still heavily impacted and limited by several aspects of culture and relationship of the organizational power as well as by the beliefs of the organization and of the body of auditors. The involvement of the auditors as employees was also considered relevant in the auditing process, by means of the participation of the audited entities in self assessment2. This procedure is still not sufficiently guaranteed by successful experiments in major organizations, considering that there is not a clear demonstration of the effective benefits of adopting this practice, as ompared to the central control, seldom shared but strongly monitored by integrated information systems. Finally, this research points to the need to renew the concept of the formation and role of the auditors in modern competitive organizations, in the face of information technology and of automation of the instrument controls of the business. Therefore, one may conclude that the trend will be toward an action aiming at the revision of formal internal control matrixes, as they are established in such systems. On the other hand, the majority of audit human resources will be increasingly deployed to the evaluation of risk and control, as related to relevant events of a more abstract nature, as in the case of those connected with the uncontrollable factors of the external environment.

Inflation targeting, credibility and coordination aspects

There are plenty of economic studies pointing out some requirements, like the inexistence of fiscal dominance, for inflation targeting framework be implemented in successful (credible) way. Essays on how public targets could be used in the absence of such requirements are unusual. In this papel' we appraise how central banks could use inflation targeting before soundness economic fundamentaIs have been achieved. First, based on concise framework, where confidence crises and imperfect information are neglected, we conclude that less ambitious (greater) target for inflation increases the credibility in the precommitment. Optimal target is higher than the one obtained using the Cukierman-Liviatan [7] model, where increasing credibility effect is not considered. Second, extending the model to make confidence crises possible, multiple equilibria solutions becomes possible too. In this case, to set greater targets for inflation may stimulate confidence crises and reduce the policymaker credibility. On the other hand, multiple (bad) equilibria may be avoided. The optimal target depends on the likelihood of each equilibrium be selected. Finally, when perturbing common knowledge uniqueness is restored even considering confidence crises, as in Morris-Shin[ 14]. The first result, i.e. less ambitious target for inflation increases credibility in precommitment, is also recovered. Adding a precise public signal, cOOl'dinated self-fulfilling actions and equilibrium multiplicity may still exist for some lack of common knowledge (as in Angeleto and Weming[l]). In this case, to set greater targets for inflation may stimulate confidence crisis again, reducing the policymaker credibility. From another aspect, multiple (bad) equilibria may be avoided. Optimal policy prescriptions depend on the likelihood of each equilibrium be selected. Results also indicate that more precise public information may open the door for bad equilibrium, contrary to the conventional wisdom that more central oank transparency is always good when considering inflation targeting framework.