From the 'Miracle' to the 'Lost Decade': intersectoral transfers and external credit in the Brazilian economy

The present paper examines the Brazilian experience from the 'Economic Miracle' to the 'Lost Decade'. Its aim is to advance an alternative measurement of the flows of extraordinary wealth (i.e. ground-rent and net external credit) available for appropriation in the Brazilian economy and to asses their relevance in sustaining the process of accumulation of industrial capital. That is done in order to provide further and more accurate evidence to the claim that the evolution of the Brazilian process of capital accumulation has been extremely dependent on the evolution of those masses of extraordinary wealth.

La Sección Femenina en la "llamada de África": Saharauis y guineanas en el declive del colonialismo español

[ES] La «llamada de África» supuso para Sección Femenina una estrategia de expansión y, en buena medida, de empoderamiento. La misión franquista colonial de españolización influyó en la construcción local del género de «provincias españolas» como Guinea y Sahara. Esta investigación etnográfica e histórica se centra en dicha estrategia «desarrollista» y modernizadora en ambas regiones de África, desvelando entre otros, el significativo contraste entre la extraordinaria riqueza de fuentes de archivo sobre las regiones africanas y la limitada producción de estudios publicados sobre la temática, aunque el interés en la materia ha despertado recientemente, incluidas las propias autoras del texto.

Composición florística y etnobotánica de las diferentes formaciones vegetales de la provincia de Loja, Ecuador

Pese a que Loja (Ecuador) presenta una gran riqueza ecológica y cultural, ni su patrimonio etnobotánico, ni cómo afecta el uso de las plantas al estado de conservación de los ecosistemas es bien conocido. Por ello se ha realizado un estudio etnobotánico y ecológico para conocer el papel que han jugado las plantas en la cultura tradicional de la provincia y comprender qué factores influyen en su uso. Durante 2006 y 2008 se entrevistó a 770 informantes (196 de ellos vendedores en mercados locales) y se realizaron 373 transectos en 118 remanentes boscosos, 51% indicados por la gente como lugares de recolección. Se ha registrado el saber etnobotánico de 717 especies pertenecientes a 143 familias, la mayoría nativas del Ecuador, 31 de ellas endémicas. Ello supone un 15% de la flora total de Loja. Sin embargo especies introducidas como Matricaria recutita o Eucalyptus globulus están entre las más citadas. La mayor riqueza se obtuvo para las plantas medicinales (509 especies), que se usan sobre todo para tratar las llamadas “inflamaciones internas” (210 especies, Matricaria recutita y Melissa officinalis principalmente) y trastornos del sistema digestivo (188, Matricaria recutita y Mentha pulegium). En los mercados se venden 169 especies, la mayoría para elaborar la bebida típica llamada horchata (65) y para curar “inflamaciones internas” (36). Además se emplean 414 con otros fines (161 para leña, 142 para alimentación humana, 133 para construcción de viviendas y muebles, 98 para artesanías, 89 ornamentales, 27 tintóreas y 72 para otros usos). En los remanentes se inventariaron 19.156 individuos correspondientes a 1440 especies de 153 familias, de las cuales 437 son empleadas por la población. La riqueza media de especies y de plantas útiles fue significativamente mayor en los remanentes recolectados lo cual parece demostrar que la explotación no afecta negativamente a la diversidad de especies al generar variabilidad de hábitats. También se vio que la proporción de especies útiles disminuye en los remanentes más diversos. También se observó que la probabilidad de uso de una especie aumenta con la frecuencia y la abundancia y disminuye con la distancia a los remanentes en los que aparece. Este patrón general no se cumple para las especies medicinales y ornamentales. Estos datos demuestran una gran riqueza de conocimientos tradicionales y una gran vitalidad del uso de muchas especies y corroboran la hipótesis de que los recursos vegetales más accesibles y abundantes son, salvo excepciones, los más empleados por la gente. ABSTRACT Although the Loja province (Ecuador) has a great ecological and cultural richness, neither the ethnobotanical heritage nor the incidence of plant use on ecosystems conservation it is well known. We have made an ethnobotanical and ecological study to determine the role played by plants in the traditional culture of the province and to understand what factors influence their use. Between 2006 and 2008 we interviewed 770 informants (196 of them vendors in local markets) and inventoried 373 transects in 118 forest remnants (51% of them indicated by people as collection sites). We recorded the ethnobotanical knowledge for 717 species belonging to 143 families, mostly native of Ecuador, 31 of which are endemic. This represents about a 15% of the total flora of Loja. However introduced species such as Matricaria recutita and Eucalyptus globulus are among the most cited. Medicinal plants (509 species) were the most abundant, and are used primarily to treat so‐called "internal inflammation" (210 species, with Matricaria recutita and Melissa officinalis as the most valued) and disorders of the digestive system (188, Matricaria recutita and Mentha pulegium). We recorded 169 species sold in markets, most of them (65) employed to elaborate a typical drink called horchata and to heal "internal inflammation" (36). In addition 414 are used for other purposes: 161 for firewood, 142 for human consumption, 133 for construction and furniture, 98 for handicrafts, 89 as ornamental, 27 for dye and 72 for other uses. In the forest remnants, 19,156 individuals corresponding to 1440 species of 153 families, 437 of which are used by the population were inventoried. The average species richness (both total and of useful plants) was significantly higher in exploited remnants, which suggest that exploitation does not adversely affect species diversity and instead increases habitat diversity. We also found that the proportion of useful species decreases in decreased in the most diverse remnants. It was also observed that the probability of use of a species increases with its frequency and abundance and decreases as the distance form localities to remnants where it appears increases. This general pattern however does not hold for medicinal and ornamental species. These results show the extraordinary wealth of traditional knowledge and the great vitality in the use of many species and support the hypothesis that most accessible and abundant plant resources are the most used by people.

Global economic crises, environmental-resource scarcity and wealth concentration

Includes bibliography

The Shape of Global Wealth: Slender Towers from New York to Seattle

Thesis (Master's)--University of Washington, 2016-06

Extraordinary and extensive karyotypic variation: A 48-fold range in chromosome number in the gall-inducing scale insect Apiomorpha (Hemiptera : Coccoidea : Eriococcidae)

Chromosome number reflects strong constraints on karyotype evolution, unescaped by the majority of animal taxa. Although there is commonly chromosomal polymorphism among closely related taxa, very large differences in chromosome number are rare. This study reports one of the most extensive chromosomal ranges yet reported for an animal genus. Apiomorpha Rubsaamen (Hemiptera: Coccoidea: Eriococcidae), an endemic Australian gall-inducing scale insect genus, exhibits an extraordinary 48-fold variation in chromosome number with diploid numbers ranging from 4 to about 192. Diploid complements of all other eriococcids examined to date range only from 6 to 28. Closely related species of Apiomorpha usually have very different karyotypes, to the extent that the variation within some species- groups is as great as that across the entire genus. There is extensive chromosomal variation among populations within 17 of the morphologically defined species of Apiomorpha indicating the existence of cryptic species-complexes. The extent and pattern of karyotypic variation suggests rapid chromosomal evolution via fissions and (or) fusions. It is hypothesized that chromosomal rearrangements in Apiomorpha species may be associated with these insects' tracking the radiation of their speciose host genus, Eucalyptus.

Corporate stadium sponsorships, signaling theory, agency conflicts, and shareholder wealth

Contrary to the plethora of critical articles recently appearing in both the popular and business press, this carefully controlled investigation of 49 stadium- and arena-naming-rights agreement announcements provides striking evidence that such sponsorships can significantly enhance the stock prices of sponsoring companies. Indeed, the results of the study show that the average stadium sponsor's stock prices increased by 1.65 percent at the time of announcement of the programs-a result considerably in excess of the returns associated with other major marketing programs such as the signing of Olympic sponsorships and celebrity endorsers. A multiple regression analysis employing firm-specific changes in stock prices as the dependent variable and quantifiable corporate and sponsorship-related attributes as independent variables is also presented. Variables positively and significantly correlated with perceived sponsorship success include team-winning percentages, contract length, and high technology and locally based companies. Overall, the findings of the study are consistent with the novel hypothesis that, for some firms, the real value-added of a stadium sponsorship may lie in its ability to serve as an effective or honest signal of managerial confidence in the future of the company.

The highly rearranged mitochondrial genome of the plague thrips, Thrips imaginis (Insecta : thysanoptera): Convergence of two novel gene boundaries and an extraordinary arrangement of rRNA genes

To help understand the mechanisms of gene rearrangement in the mitochondrial (mt) genomes of hemipteroid insects, we sequenced the mt genome of the plague thrips, Thrips imaginis (Thysanoptera). This genome is circular, 15,407 by long, and has many unusual features, including (1) rRNA genes inverted and distant from one another, (2) an extra gene for tRNA-Ser, (3) a tRNA-Val lacking a D-arm, (4) two pseudo-tRNA genes, (5) duplicate control regions, and (6) translocations and/or inversions of 24 of the 37 genes. The mechanism of rRNA gene transcription in T. imaginis may be different from that of other arthropods since the two rRNA genes have inverted and are distant from one another. Further, the rRNA genes are not adjacent or even close to either of the two control regions. Tandem duplication and deletion is a plausible model for the evolution of duplicate control regions and for the gene translocations, but intramitochondrial recombination may account for the gene inversions in T. imaginis. All the 18 genes between control regions #1 and #2 have translocated and/or inverted, whereas only six of the 20 genes outside this region have translocated and/or inverted. Moreover, the extra tRNA gene and the two pseudo-tRNA genes are either in this region or immediately adjacent to one of the control regions. These observations suggest that tandem duplication and deletion may be facilitated by the duplicate control regions and may have occurred a number of times in the lineage leading to T. imaginis. T. imaginis shares two novel gene boundaries with a lepidopsocid species from another order of hemipteroid insects, the Psocoptera. The evidence available suggests that these shared gene boundaries evolved by convergence and thus are not informative for the interordinal phylogeny of hemipteroid insects. We discuss the potential of hemipteroid insects as a model system for studies of the evolution of animal rut genomes and outline some fundamental questions that may be addressed with this system.

Shareholder wealth creation in response to announcements of acquisitions of unlisted firms: Evidence from Spain

We investigate shareholder value creation of Spanish listed firms in response to announcements of acquisitions of unlisted companies and compare this experience to the purchase of listed firms over the period 1991–2006. Similar to foreign markets, acquirers of listed targets earn insignificant average abnormal returns, whereas acquirers of unlisted targets gain significant positive average abnormal returns. When we relate these results to company and transaction characteristics our findings diverge from those reported in the literature for other foreign markets, as our evidence suggests that the listing status effect is mainly associated with the fact that unlisted firms tend to be smaller and lesser–known firms, and thus suffer from a lack of competition in the market for corporate control. Consequently, the payment of lower premiums and the possibility of diversifying shareholders’ portfolios lead to unlisted firm acquisitions being viewed as value–orientated transactions.

Os reais hospitais militares em Portugal administrados e fundados pelos Irmãos Hospitaleiros de S. João de Deus 1640-1834

RESUMO: Desde 1640 até data extrema de 1834, os Irmãos Hospitaleiros de S. João de Deus foram os responsáveis, directa e indirectamente, pela administração e corpo de enfermagem dos Reais Hospitais Militares em Portugal, actividades que analisamos ao longo dos séculos, desenvolvendo pressupostos temáticos relativamente a sua actuação no tempo e no espaço. É durante o séc. XVII até ao séc. XIX, que vemos os cuidados da corte para com a assistência aos soldados enfermos e doentes, ao publicar inúmera legislação relativamente à complexidade assistencial na área militar, a qual foi por nós compilada para melhor contextualização da importância dos Hospitais Militares em Portugal. Os Regimentos, os Alvarás, os Regulamentos e as Ordens do Dia, constituem um objecto fundamental de pesquisa e análise para caracterizar o quotidiano nesses mesmos locais. Os Hospitais Militares desde a sua fundação, dos primórdios das Guerras da Aclamação em 1640, até ao advento do liberalismo em 1834, eram centros de conhecimento técnico e científico com um corpo assistencial especializado, onde um conjunto pluridisciplinar de profissionais zelava qualitativamente pelos assistidos, e onde os Irmãos Hospitaleiros de S. João de Deus desempenhavam funções de administradores, enfermeiros e capelães. Nesse sentido elaboramos uma listagem cronológica para inter relacionar os Irmãos Hospitaleiros e os Hospitais Militares, pois é impossível separar a Ordem de S. João de Deus da componente assistencial aos enfermos e doentes militares em Portugal. A importância urbana e arquitectónica, que os Reais Hospitais Militares tiveram no contexto orgânico e defensivo nas Praças de Guerra, é realçado pela forma como estes se encontravam implantados e construídos, demarcando-se esteticamente da globalidade edificada, pois constituíam parte integrante dos equipamentos militares, como era teorizado pelos técnicos militares. Assim analisamos a localização dos imóveis, para além do próprio edifício hospitalar, com o meio, ou seja com a urbanidade das Praças de guerra. A sobriedade arquitectónica dos Hospitais Militares, integrada nos grandes ciclos das correntes culturais europeia e nacional, associada à riqueza decorativa e iconoclasta desenvolvida nesses locais, dá-nos uma dimensão da importância científica que esses núcleos assistenciais tiveram, contribuindo para a difusão do culto e circulação da imaginária de S. João de Deus em Portugal e dos Santos venerados nos Hospitais Militares. Desta forma compreendemos o alicerçar devocional que o reino tinha por este Santo, como o fundador do conceito assistencial do hospital moderno. Estando intrinsecamente ligado a este facto vemos o proliferar do culto e da imaginária de S. João de Deus em Portugal, centrando-se a iconografia artística do Santo em torno das localidades onde se enraizaram os Hospitais Militares. Hoje, nos imóveis hospitalares, não é difícil analisar uma lenta evolução da funcionalidade dos seus espaços, gravitando o desenvolvimento estrutural assistencial em torno das enfermarias e salas de cirurgia, mantendo-se perene este arquétipo arquitectónico desde o séc. XVII até meados do séc. XIX, as quais foram levantadas, comparadas e analisadas. Foi com a exclaustração das Ordens Religiosas, pelo Decreto de 29 de Maio de 1834, que acabou a extraordinária e valorosa acção administrativa, tutelar e corpo de enfermagem dos Irmãos Hospitaleiros de S. João de Deus, na área específica da assistência militar em Portugal, extinguindo-se, nalguns casos, os Hospitais Militares, pois o reino não estava preparado para substituir esses profissionais de saúde. O nosso estudo desenvolve-se por cerca de 295 anos, espaço temporal em que os Hospitais Militares foram administrados e fundados pelos Irmãos de S. João de Deus em Portugal.---------ABSTRACT: Since 1640 until 1834 the Hospitaller Brothers of S. John of God were the responsibles, direct and indirectly, for the administration and nursing body of the Royal Military Hospitals in Portugal, activities that we analyse throughout the centuries, developing thematic presuppositions regarding its performance in time and in space. It is during the 17th century until the 19th century, that we see the court’s care with the assistance of the wounded and sick by the publishing of much legislation regarding the assistance complexity in the military area, which was compiled by us in order to achieve a better comprehension of the importance of the Military Hospitals in Portugal. The Regiments, Charters, Regulations and Orders of Day constitute a fundamental object of research and analysis to characterise the quotidian of these locations. The Military Hospitals, since its foundation, in the beginning of the Wars of Acclamation in 1640, until the advent of liberalism in 1834, were centres of technical and scientific knowledge with a specialized assistance body, were a multidisciplinary set of professionals took qualitatively care of the attended, and where the Hospitaller Brothers of S. John of God performed the tasks of administrators, nurses and chaplains. In this perspective, we created a chronological listing in order to relate the Hospitaller Brothers with the Military Hospitals, since it is impossible to separate the Hospitaller Order of S. John of God from the component of assistance to the military sick and wounded in Portugal. The urban and architectural importance that the Royal Military Hospitals had in the organic and defensive context of the War Fortifications is emphasized by the way these were implanted and built and by its architectural demarcation of the edified whole, since they constituted an integrant part of the military equipments, as it was theorized for the military architecture. Therefore we analyse the location of the real estate, analysing not only the hospital building itself, but also its relation with the environment, i. e. with the urbanism of the war fortifications. The architectural sobriety of Military Hospitals, integrated in the big cycles of cultural streams in Europe and Portugal, associated to the decorative and iconoclastic wealth developed in these locations, give us a dimension of the scientific importance that these hospitals had, contributing to the diffusion of the cult and circulation of sculptures and paintings of S. John of God in Portugal and of the Saints revered in the Hospitals. In this way, we understand the consolidation of the devotion that the kingdom had for this Saint, the founder of the assistance concept of the modern hospital. The proliferation of the cult and iconography of S. John of God is intrinsically connected to this fact, the artistic iconography concentrating itself around the localities were the Military Hospitals were built. Today, in the assistance buildings, it is not difficult to analyse a slow evolution of the functionality of its spaces, gravitating the structural assistance development around the infirmaries and surgery rooms, this architectural archetype being perennial from the 17th century until the middle of the 19th century. These infirmaries were pointed out, compared and analysed. It was the expulsion of the Religious Orders, by the Decree of May 29th 1834, that ended with the extraordinary and valorous administrative and tutelary action and nursing body of the Hospitaller Brothers of S. John of God, in the specific area of military assistance in Portugal, extinguishing, in some cases, the Military Hospitals, since the kingdom wasn’t prepared to substitute these health professionals. Our study is developed in a timeframe of 295 years, period in which the Military Hospitals were administrated and founded by the Brothers of S. John of God in Portugal.

Wealth Management in Africa: The Cape Verde Opportunity

This work project consists of a comprehensive study of the possibility of opening a Wealth Management (WM) firm located in Cape Verde (CV), and was made at the request of NovoBanco’s Research Sectorial team. WM is a growing industry that consists in the set of financial services provided to wealthy clients. After taking into account the expected industry growth of the Sub-Saharan region, the preferences of the African wealthy, the current industry structure, and the advantages and disadvantages of locating a WM business in CV, it is concluded that a business opportunity exists. The reasons for thus, along with relevant recommendations, including which services a new business should offer and whom to target specifically, are presented in the final section.

An economic appraisal of the wealth-health gradient

In this study we aim to investigate the health discrepancies arising from unequal economic status, known as the “wealth-health gradient”. Our sample comprises 47,163 individuals from 14 European countries in the SHARE Wave 4 (2011), representing the population aged 50 and older. Through a cross-sectional OLS regression model, we have tested the impact of country-level indicators to infer their effect on personal health and on the magnitude of the gradient. The results find that private expenditure yields, on average, a higher, but fast decreasing, health benefit than public expenditure; and that income inequality is irrelevant for reducing health inequalities.

An equity wealth preservation strategy: Following the macro trend

Financial crisis have happened in the past and will continue to do so in the future. In the most recent 2008 crisis, global equities (as measured by the MSCI ACWI index) lost a staggering 54.2% in USD, on the year. During those periods wealth preservation becomes at the top of most investor’s concerns. The purpose of this paper is to develop a strategy that protects the investment during bear markets and significant market corrections, generates capital appreciation, and that can support Millennium BCP’s Wealth Management Unit on their asset allocation procedures. This strategy extends the Dual Momentum approach introduced by Gary Antonacci (2014) in two ways. First, the investable set of securities in the equities space increases from two to four. Besides the US it will comprise the Japanese, European (excl. UK) and EM equity indices. Secondly, it adds a volatility filter as well as three indicators related to the business cycle and the state of the economy, which are relevant to decide on the strategy’s exposure to equities. Overall the results attest the resiliency of the strategy before, during and after historical financial crashes, as it drastically reduces the downside exposure and consistently outperforms the benchmark index by providing higher mean returns with lower variance.

Consumption, wealth, stock and housing returns: evidence from emerging markets

We test the predictive ability of the transitory deviations of consumption from its common trend with aggregate wealth and labour income, cay, for both future equity and housing risk premia in emerging market economies. Using quarterly data for 31 markets, our country-level evidence shows that forecasting power of cay vis-à-vis stock returns is high for Brazil, China, Colombia, Israel, Korea, Latvia and Malaysia. As for housing returns, the empirical evidence suggests that financial and housing assets are perceived as complements in the case of Chile, Russia, South Africa and Thailand, and as substitutes in Argentina, Brazil, Hong Kong, Indonesia, Korea, Malaysia, Mexico and Taiwan. Using a panel econometric framework, we find that the cross-country heterogeneity observed in asset return predictability does not accrue to regional location, but can be attributed to differences in the degree of equity market development and in the level of income.