Ventas en corto: análisis comparativo y propuesta para su implementación en el mercado de valores colombiano

Actualmente la Bolsa de Valores de Colombia adelanta un proyecto para dar vía libre a las ventas en corto de acciones en el mercado de capitales colombiano, a través de un instrumento conocido como transferencia temporal de valores (TTV) -- A partir de un análisis econométrico y del estudio de prácticas en otros mercados, el objetivo de este documento es examinar el esquema bajo el cual operarían las ventas en corto y proponer mejoras para facilitar la implementación de un mecanismo eficiente y de amplia acogida, cuya puesta en marcha contribuiría a la profundización y eficiencia del mercado de capitales y a una mayor participación de los agentes

The role of women in fish processing: handling and marketing in Kainji Lake basin

The study assessed the contribution of women in fish handling, processing and marketing in Kainji Lake basin. Structured questionnaires were administered to three fishing villages selected at random. The fishing villages were Monai, Yuna, Fakun, and New Bussa market. The study revealed that women play vital roles in fisheries activities as producers, assistants to men preservers, traders and financiers. The notable fishing activity performed by women is processing right from the moment the boats or canoes land at sites. Women assist in emptying nets, sorting gutting and cleaning the catch. In most cases their activities involved salting smoking and drying using traditional processing techniques. Women are also involved in storage and marketing of both fresh and smoked fish. In spite of these important contribution, most women in the various fishing communities are illiterates, have little or no say in decision making in areas that affects their livelihood and are regarded as inferior fedex. Culture and religion also has significant impact on their contribution in fishing activities

To Hell with Herbert Read

Freee write manifestos by taking a pencil (or a laptop) to an historical text, usually belonging to the entwined traditions of the avant-garde and political activism. Sometimes, as Tristan Tzara advised, we choose the text according to its length, while other times, such as in this instance, we selected the text according to the conditions of the invitation that triggered the writing of the manifesto. Our manifesto ‘To Hell with Herbert Read’ was written originally as a contribution to a conference held in Manchester that took its title from Herbert Read’s book ‘To Hell with Culture’. ‘To Hell with Culture’ is a book that cuts itself off from the world whereas ‘To Hell with Herbert Read’ relocates Read’s book in a world of cultural, social, economic and political actualities that are part of common experience. Read rejects culture because he thinks it is a useless, wasteful, elitist, puffed-up, decorative supplement to the functional, factual, palpable, purposeful world of things. He is a positivist kind of modernist who presents himself as the opposite, an enemy of the status quo. He is an anarchist of a particularly bourgeois hue: he wants us all to have decent pots and pans, not the inferior ones that are supplied by market forces cheaply. Rather than taking his aim precisely to target the dominant forces of his day - the industrial capitalists and their financiers - he rejects the world and all its inhabitants. He not only despises elitist culture but popular culture too.

To Hell with Herbert Read

Freee write manifestos by taking a pencil (or a laptop) to an historical text, usually belonging to the entwined traditions of the avant-garde and political activism. Sometimes, as Tristan Tzara advised, we choose the text according to its length, while other times, such as in this instance, we selected the text according to the conditions of the invitation that triggered the writing of the manifesto. Our manifesto ‘To Hell with Herbert Read’ was written originally as a contribution to a conference held in Manchester that took its title from Herbert Read’s book ‘To Hell with Culture’. ‘To Hell with Culture’ is a book that cuts itself off from the world whereas ‘To Hell with Herbert Read’ relocates Read’s book in a world of cultural, social, economic and political actualities that are part of common experience. Read rejects culture because he thinks it is a useless, wasteful, elitist, puffed-up, decorative supplement to the functional, factual, palpable, purposeful world of things. He is a positivist kind of modernist who presents himself as the opposite, an enemy of the status quo. He is an anarchist of a particularly bourgeois hue: he wants us all to have decent pots and pans, not the inferior ones that are supplied by market forces cheaply. Rather than taking his aim precisely to target the dominant forces of his day - the industrial capitalists and their financiers - he rejects the world and all its inhabitants. He not only despises elitist culture but popular culture too.

The promised LAN: the transformative power of information and communications technology in developing countries

Este tese analise as implicações dos investimentos em tecnologia de informação e comunicação (ICT) em países ainda em desenvolvimento, especialmente em termos de educação, para estimular a implementação de uma infra-estrutura mais moderna em vez da continuação do uso de métodos tradicionais. Hoje, como o interesse e os investimentos em ICT estão crescendo rapidamente, os módulos e as idéias que existem para medir o estado de ICT são velhos e inexatos, e não podem ser aplicados às culturas de países em desenvolvimento. Políticos e investidores têm que considerar estes problemas quando estão pensando em investimentos ou socorros para programas em ICT no futuro, e investigadores e professores precisam entender os fatores importantes no desenvolvimento para os ICTs e a educação antes de começar estudos nestes países. Este tese conclue que investimentos em tecnologias móbeis e sem fios ajudarem organizações e governos ultrapassar a infra-estrutura tradicional, estreitando a divisão digital e dando o resulto de educação melhor, alfabetização maior, e soluções sustentáveis pelo desenvolvimento nas comunidades pobres no mundo de países em desenvolvimento.

Small- and medium-sized enterprises' restructuring in a context of transition: a shared process: inter-player effects on efficient boundary choice in the Argentine manufacturing sector

Includes bibliography

Objective `Safe' Grazing Capacities for South-West Queensland Australia: Development of a Model for Individual Properties

Few tools are available to assist graziers, land administrators and financiers in making objective grazing capacity decisions on Australian rangelands, despite existing knowledge regarding stocking rate theory and the impact of stocking rates on land condition. To address this issue a model for objectively estimating 'safe' grazing capacities on individual grazing properties in south-west Queensland was developed. The method is based on 'safe' levels of utilisation (15%-20%) by domestic livestock of average annual forage grown for each land system on a property. Average annual forage grown (kglha) was calculated as the product of the rainfall use efficiency (kglhdmm) and average annual rainfall (mm) for a land system. This estimate included the impact of tree and shrub cover on forage production. The 'safe' levels of forage utilisation for south- west Queensland pastures were derived from the combined experience of (1) re-analysis of the results of grazing trials, (2) reaching a consensus on local knowledge and (3) examination of existing grazing practice on 'benchmark' grazing properties. We recognise the problems in defining, determining and using grazing capacity values, but consider that the model offers decision makers a tool that can be used to assess the grazing capacity of individual properties.

Um olhar sobre a questão dos resíduos da construção civil no Município do Rio de Janeiro.

Os RCC são originados dos diversos processos da construção civil, com características bastante particulares pela variedade dos métodos construtivos empregados. Suas deposições em locais inadequados causam vários impactos com diferentes tempos de reação e de degradação do meio ambiente. Para impedi-los foi aprovada a Resolução 307 do CONAMA, que estabelece critérios e normas de caráter protetor ao meio ambiente, porém as administrações públicas possuem inúmeras dificuldades técnicas e financeiras para sua implementação. Para auxiliar os municípios, a CEF elaborou dois manuais de orientações para o manejo e gestão dos RCC, direcionando o sistema gestor. Uma opção para a gestão de RCC é a reciclagem. O Município do Rio de Janeiro com seu relevo original formado por mangues e morros, sofreu grandes aterros e sofre até os dias atuais, utilizando para isso os RCC e o desmonte de antigos morros. Os RCC, após coletados, são destinados a uma única Área de Transbordo e Triagem, com capacidade insuficiente para recebê-los. A ausência de controle do órgão gestor sobre os RCC, seus dados de produção e de destinação, exige uma estimativa dos RCC gerados no Município e uma observação global sobre seus destinos, considerando os aterros autorizados pela SMAC. Foi realizada uma análise crítica da gestão corretiva adotada pelo sistema gestor, suas particularidades e dificuldades, e o perfil atual sobre a reciclagem de RCC no Rio de Janeiro. Algumas propostas para a melhoria do sistema gestor foram apresentadas e sugerida a necessidade de um estudo mais aprofundado e de um levantamento mais completo da realidade dos RCC no Município do Rio de Janeiro.

The BBC's role in the changing production ecology of pre-school television in Britain

This paper examines the changing production ecology of British pre-school television in light of developments since the mid-1990s and the specific role played by the BBC. Underpinning the research is the perception that pre-school television is characterised by a complex set of industry relationships and dependencies that demands content which needs to satisfy a wide range of international circumstances and commercial prerogatives. For the BBC this has created tension between its public service goals and commercial priorities. Pre-school programming began in Britain in 1950, but it was not until the mid-1990s that Britain emerged as a leading producer of pre-school programming worldwide with government/industry reports regularly identifying the children’s production sector as an important contributor to exports. The rise of pre-school niche channels (CBeebies, Nick Junior, Playhouse Disney), audience fragmentation and the internationalisation and commercialisation of markets have radically altered the funding base of children’s television and the relationships that the BBC enjoys with key players. The international success of much of its pre-school programming is based on the relationships it enjoys with independent producers who generate significant revenues from programme-related consumer products. This paper focuses on the complex and changing relationships between the BBC, independent producers, and financiers, that constitute the production ecology of pre-school television and shape its output. Within the broader setting of cultural production and global trends the paper investigates the following questions: 1) In the light of changes to the sector since the mid-1990s, what makes pre-school television significant both generally and as an ideal public service project? 2) What is the nature of the current funding crisis in British children’s television and what implications does this crisis have for the BBC’s involvement in pre-school television? 3) How is the Corporation reacting to and managing the wider commercial, cultural, regulatory and technological forces that are likely to affect its strategies for the commissioning, production and acquisition of pre-school content?

Épidémie de l’infection à VIH/Sida au Bénin : implication en évaluation des ONG locales et efficacité de leurs interventions

Même si le rôle des ONG locales de la lutte contre le VIH/Sida est bien apprécié en Afrique, il existe une perception d’inefficacité de leurs actions liée à leur manque de capacité dans le suivi-évaluation des programmes. Par ailleurs, leur implication en évaluation peut être utilisée comme moyen d’amélioration continue de l’efficacité de leurs interventions. L’objectif de ce travail est d’analyser l’influence de l’implication de ces ONG dans les évaluations sur l’efficacité de ces interventions. Il combine les méthodes qualitative et quantitative d’analyse de données recueillies auprès de responsables, de financeurs et clients des ONG du Bénin. Il est rédigé sous la forme d’articles et est subdivisé en quatre parties :- analyse descriptive de la façon dont les ONG s’impliquent dans les évaluations de leurs activités ainsi que des facteurs l’influençant;- analyse par une méthode quantitative de l’influence qu’une telle implication peut avoir sur l’efficacité des interventions;- examen de façon qualitative des perceptions des acteurs sur cette implication ainsi que des mécanismes par lesquels elle peut conduire à l’efficacité des interventions;- examen des dimensions et facteurs explicatifs de la satisfaction des clients de ces ONG. Des recommandations sont adressées aux acteurs en vue d’optimiser l’utilisation des méthodes d’évaluation par ces organisations pour une amélioration de l’efficacité de leurs actions.

Contingent Edis: a new contractual framework for minimizing the risk of incentive failures

Granting economic development incentives (or “EDIs”) has become commonplace throughout the United States, but the efficiency of these mechanisms is generally unwarranted. Both the politicians granting, and the companies seeking, EDIs have incentives to overestimate the EDIs benefits. For politicians, ribbon–cutting ceremonies can be the highly desirable opportunity to please political allies and financiers, and the same time that they demonstrate to the population that they are successful in promoting economic growth – even when the population would be better off otherwise. In turn, businesses are naturally prone to seek governmental aid. This explains in part why EDIs often “fail” (i.e. don’t pay–off). To increase transparency and mitigate the risk of EDI failure, local and state governments across the country have created a number of accountability mechanisms. The general trait of these accountability mechanisms is that they apply controls to some of the sub–risks that underlie the risk of EDI failure. These sub–risks include the companies receiving EDIs not generating the expected number of jobs, not investing enough in their local facilities, not attracting the expected additional businesses investments to the jurisdiction, etc. The problem with such schemes is that they tackle the problem of EDI failure very loosely. They are too narrow and leave multiplier effects uncontrolled. I propose novel contractual framework for implementing accountability mechanisms. My suggestion is to establish controls on the risk of EDI failure itself, leaving its underlying sub–risks uncontrolled. I call this mechanism “Contingent EDIs”, because the EDIs are made contingent on the government achieving a preset target that benchmarks the risk of EDI failure. If the target is met, the EDIs will ex post kick in; if not, then the EDIs never kick in.

On the distributive impact of unconventional monetary policy

Logo após à crise financeira de 2007-08 o Federal Reserve interveio para tentar controlar a recessão. No entanto, ele não apenas baixou os juros, como também adotou políticas não-convencionais, incluindo o empréstimo direto para empresas em mercados de crédito de alto nível. Estas novas medidas foram controversas e alguns opositores protestaram porque elas estariam ajudando disproporcionalmente aquelas pessoas ligadas ao sistema financeiro que já eram ricas. Nós utilizamos um modelo DSGE para a análise de políticas monetária não convencional e introduzimos dois tipos distintos de agentes, capitalistas e trabalhadores, para investigar o seu impacto distributivo. Nós encontramos que a política de crédito to Fed foi bem sucedida no mercado de trabalho, o que ajuda mais os trabalhadores, e introduziu um novo competidor no mercado bancário, o governo, o que prejudica mais os capitalistas. Logo, nós encontramos que a política de crédito diminuiu a desigualdade nos EUA.

Modelos de crescimento kaleckianos: uma apreciação

The purpose of this article is to survey the main papers that founded a kaleckian approach of the economic growth. It presents a certain moment of the historical evolution of the non-neoclassical macrodynamics. This analysis can be understood under the political economy tradition in putting together social classes (capitalists and workers), distributive conflict and the relationship between distribution and accumulation.

Future Engineers Australia Management Project: Turning high school students into engineering entrepreneurs

There has been a strong move towards entrepreneurial education in high schools and at universities over the past few years. This has been echoed by a call from state governments around Australia to promote enterprise thinking and education in high schools. It also parallels the push within engineering to learn across the traditional boundaries , particularly between engineering and business. To meet this call, The Engineering Link Group (TELG) developed the Future Engineers Australia Management Project (FEAMP) in 2003. The project is based around Enterprise Education, and was inspired by the Smallpeice Year 12 Engineering Management course in the UK. The idea was to take high school students in years 11 and 12 and turn them into ‘engineering entrepreneurs’. This paper presents the design, development and evaluation of FEAMP as a five day residential course for year 11 and 12 students who want to learn more about being entrepreneurs and managers. It is a hands-on activity where the students invent, develop and sell an engineering concept to venture capitalists and ultimately to customers at a trade fair. It has been run successfully for two years, going from strength to strength. © 2005, Australasian Association for Engineering Education