The political economy of exchange rate in Brazil

This paper reviews part of the political economy literature on exchange rate policy relevant to understanding the political motivations behind the Brazilian exchange rate policy. We shall first examine the distributive role of the exchange rate, and the way it unfolds in terms of the desired political goals. We will follow by analyzing exchange policy as indicative of government effciency prior to elections. Finally, we discuss fiscal policy from the point of view of political economy, in which the exchange rate results from the macroeconomic equilibrium. Over this review, the Brazilian exchange rate policy is discussed in light of the theories presented.

The political economy of global economic disgovernance

A Desgovernança Econômica Global, Mais do que a Governança Caracteriza Hoje a Economia Mundial. Dois Fatos Substanciam Essa Afirmativa: a Crise Recorrente do Balanço de Pagamentos nos Países em Desenvolvimento, e o Enorme Déficit em Conta Corrente dos Estados Unidos. as Crises nos Mercados Emergentes são Essencialmente Resultantes da Estratégia que o Norte Propõe para o Sul: a Estratégia de Crescimento com Poupança Externa. Dado o Fato de que a Entrada de Capital Aumenta a Taxa de Cambio, e que os Paises não Reconheceram as Principais Oportunidades de Investimento nos Anos 1990, Tal Estratégia Levou não ao Aumento das Taxas de Acumulação de Capital e ao Crescimento, Mas ao Aumento do Déficit em Conta Corrente e À Crise do Balanço de Pagamento (Financeiro). por Outro Lado, o Déficit em Conta Corrente dos Estados Unidos é um Problema Sério. Aquele Já é um País Devedor, Mas os Ajustes Continuam a ser Adiados. a Probabilidade de um Soft Landing (Desfecho Satisfatório) é Pequena. as Duas Fontes de Instabilidade Estão Relacionadas Aos Déficits em Conta Corrente e À Moeda Sobrevalorizada. a Política Econômica por Trás tem um Nome: Taxa de Câmbio Populista, uma das Duas Formas de Populismo Econômico (A Outra é o Populismo Fiscal). Isto não é Surpreendente em Países em Desenvolvimento, Mas Pode ser em um País Desenvolvido, como os Estados Unidos. Ainda Assim não é Surpreendente Quando se Considera a Recessão Política e Social que a Sociedade Americana Está Vivendo Desde o Fim da Segunda Guerra

The political economy of exchange rate policy in Brazil: 1964-1999

This paper was developed as part of a broader research program on the political economy of exchange rate policies in Latin America and the Caribbean. We are grateful for helpful comments and suggestions from Jeff Frieden, Ernesto Stein, Jorge Streb, Marcelo Neri and seminar participants at Getulio Vargas Foundation, PUC-Rio, IDB workshop on The Political Economy of Exchange Rate Policies in Latin America and the Caribbean, and LACEA meeting in Buenos Aires. We thank René Garcia for providing us with a Fortran program for estimating the Markov Switching Model, Ilan Goldfajn for sending us updated estimates of the real exchange rate series of Goldfajn and Valdés (1996), Altamir Lopes and Ricardo Markwald for kindly furnishing data on Brazilian external accounts, and Carla Bernardes, Gabriela Domingues, Juliana Pessoa de Araújo, and, specially, Marcelo Pinheiro for excellent research assistant. Both authors thank CNPq for a research fellowship.

Contribution to the chemoreception capacity of juvenile Loggerhead sea turtles (Caretta caretta, L.)

Loggerhead sea turtle juveniles (Caretta caretta), pelagic stage, are found in waters of Madeira archipelago. Pelagic turtles are in the main growth phase of their life cycle and consequently higher energy needs. However, knowledge about the ecology of pelagic loggerhead sea turtles is still quite rudimentary, mainly about the mechanisms that lead them to find food in the vast ocean. Studies with other pelagic species, such as procellariiform birds, revealed that the olfactory system play an important role for the detection of feeding areas, through the detection of concentration peaks of DMS (dimethylsulfide), a scent compound that naturally exists in the marine environment and it is related to areas of high productivity. Based on the assumption that loggerhead sea turtles use a similar mechanism, behavioural experiments were conducted in order to analyze the chemoreception capacity to DMS (airborne chemoreception - theoretically responsible for the long distance detection of areas with food patches; and aquatic chemoreception - theoretically responsible for the short distance detection of preys). The first step was to observe if pelagic loggerheads demonstrate sensitivity to DMS and the second was to verify if they really use the DMS, in natural conditions, as an airborne cue to find areas where food patches might be available. Four juveniles of loggerhead sea turtles were tested in captivity and three wild turtles in the open ocean. The results of airborne chemoreception experiments in captivity revealed that one turtle clearly demonstrated sensitivity to DMS and the sea experiments confirmed this result. However, the experiments were not conclusive on the question whether the pelagic turtles actually use the DMS as an airborne cue to detect long distance food patches. In aquatic chemoreception experiments was not observed sensitivity to DMS by the three sea turtles tested. In the classical conditioning experiment, where DMS and food were given nearly at the same time revealed that after a certain period of time, the sea turtle tested did not associated the DMS stimulus with a possible food reward. The main cause of mortality of loggerhead sea turtles in Madeira waters is due to the accidental capture (bycatch) by deep pelagic longlines fishery which the target species is the black-scabbard (Aphanopus carbo) fish. Chub mackerel (Scomber japonicus) is one of the baits used in this fishery. Aquatic chemoreception experiments were conducted in order to evaluate the attractiveness of the chub mackerel for sea turtles. For the three sea turtles tested, the results showed that in 90% of the cases the sea turtles were extremely attracted by the underwater smell of this fish.

Seroprevalence of anti-Leishmania spp. antibodies in rural dogs from the city of Monte Negro, State of Rondônia, Brazil

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

In situ evaluation of the remineralizing capacity of pit and fissure sealants containing amorphous calcium phosphate and/or fluoride

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Influence of microwave sterilization on the cutting capacity of carbide burs

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Feed restriction and a diet's caloric value: The influence on the aerobic and anaerobic capacity of rats

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Mercury Redox Chemistry in the Negro River Basin, Amazon: The Role of Organic Matter and Solar Light

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)