Balance-of-payments-constrained growth in Brazil: 1951-2008

The aim of this study is to determine whether Brazil's economic growth has been constrained by the balance of payments in the long run. The question underpinning the analysis can be expressed as follows: Was economic growth in the period 1951-2008 constrained by the balance of payments? To answer this question, the study employs the externally constrained growth methodology developed by Lima and Carvalho (2009), among others. The main statistical method used is vector error correction. The conclusion is that the rate of economic growth in Brazil was restricted by the external sector in the period concerned, validating the theory of balance-of-payments growth constraint with regard to the economic history of Brazil.

Na 1 Nachlass Max Horkheimer, 656 - Dokumente zur Geschichte des Instituts für Sozialforschung (p. IX 49a-IX 55.1-5)

Max Horkheimer: Über Wissenschaft und Technologie in Israel. Begrüßungsrede für Mr. Ben Sira, gehalten am 8.1.1949; 1. Notizen zur Rede, 10 Blatt; 2. David Ben Gurion, "Science and Technology in Israel", Sonderdruck, 2 Blatt; Über die Antisemitismus-Forschungen des Instituts für Sozialforschung. Protokoll einer Sitzung der Frankfurter Gesellschaft für Christlich-Jüdische Zusammenarbeit, 16.Mai 1949. Typoskript (Kopie), 2 Blatt; Max Horkheimer: Über Arbeit und Pläne des Instituts für Sozialforschung in Frankfurt. Vortrag, gehalten 1949 in Frankfurt (Clubabend). Manuskript, 3 Blatt; Zur Begründung eines Instituts für Sozialforschung, 1922; 1. Senckenbergische Naturforschende Gesellschaft, Frankfurt: 1 Brief mit Unterschrift (Kopie) an die Universität Frankfurt, Kuratorium, Frankfurt, 22.8.1922; 2. Felix Weil und Kurt Albert Gerlach: "Denkschrift über die Begründung eines Instituts für Sozialforschung" (1922). Typoskript (Kopie), 5 Blatt; Carl Grünberg: Festrede, gehalten zur Einweihung des Instituts für Sozialforschung an der Universität Frankfurt am Main, am 22.6.1924. a) Kopie (Auszug) aus dem Abdruck der Rede in Frankfurter Universitätsreden 1924, 3 Blatt b) Sonderdruck Frankfurter Universitätsreden 1924, 16 Seiten; Darstellungen des Instituts für Sozialforschung (1925-51); 1. Gesellschaft für Sozialforschung, Frankfurt: "Institut für Sozialforschung an der Universität Frankfurt am Main". Sonderdruck (Kopie), Frankfurt, 1925, 29 Seiten; 1a. Hermann Weil: "Bericht über das Heimatfest in Waibstadt am 3. und 4. September und die feierliche Übergabge meines Mausoleums in den Schutz der Stadt Waibstadt". Sonderdruck, 1927, 7 Seiten; 1b. Felix Weil, 1 Brief mit Unterschrift (Kopie) an den Minister für Wissenschaft, Kunst und Volksbildung Berlin. Frankfurt, 1.11.1929, Typoskript, 31 Blatt; 1c. Columbia University: "Report of the President of Columbia University for 1934" (darin S.7: Erwähnung des Instituts für Sozialforschung und der Zeitschrift für Sozialforschung), Sonderdruck, New York, 1934, 80 Seiten; 2. "International Institute of Social Research: A short Description of Its History and Aims", New York 1935, Sonderdruck, 15 Seiten; 3. Briefbogen des Instituts für Sozialforschung mit den Namen des Research Staff und des Advisory Committee, 1 Blatt; 4. "International Institute of Social Research. A Report On Its History, Aims and Activities 1933-1938". Sonderdruck, New York 1939, 36 Seiten; 5. "Research Bureau For Post-War Economics and Its Cooperating Institutions. Annual Repost", Sonderdruck, New York, Mai 1939, 17 Seiten; 5a. Los Angeles University of Applied Education: "General Catalogue 1947-48" (mit Erwähnungen des Instituts für Sozialforschung bzw. von Mitarbeitern), Druck, 56 Seiten; 6. Einladung zur Eröffnung des Instituts für Sozialforschung am 14. November 1951. Sonderdruck, Frankfurt 1951, 2 Blatt; Über das Institut für Sozialforschung 1924-31. Tabellarische Zusammenstellung, 1931, Typoskript mit eigenhändigen und handschriftlichen Ergänzungen, 5 Blatt; Max Horkheimer: "Die gegenwärtige Lage der Sozialphilosophie und die Aufgaben eines Instituts für Sozialforschung". Öffentliche Antrittsvorlesung bei Übernahme des Lehrstuhls für Sozialphilosophie und der Leitung des Instituts für Sozialforschung, 24.1.1931, Kopie (Auszug) aus dem Abdruck der Rede in Frankfurter Universitätsreden 1931, 4 Blatt; "History and Program of the Institute of Social Research". Veröffentlicht unter dem Titel "International Institute of Social Research. A Short Description of Its History and Aims", New York (1934 od. 1935), Typoskript, 6 Blatt.; "A Digest of the History, Program and Needs of the International Institute of Social Research". 1934, als Typoskript vervielfältigt, 4 Blatt; Julian Gumperz: "Notes for a talk", Über Ziele und Methoden der Arbeit des Instituts für Sozialforschung, 1934. Typoskript mit handschriftlicher Korrektur, 10 Blatt; "Report of the President of Columbia University for the year ending June 30, 1934".Auszug daraus, 1934, Typoskript, 1 Blatt; Über Geschichte und Tätigkeiten des Instituts für Sozialforschung. Verschiedene Berichte, ca. 1934-1937: 1. Über Geschichte, Tätigkeiten und Ziele des Instituts, nicht vor 1934, Typoskript, 5 Blatt; 2. Bericht an den Präsidenten der Columbia University, 14.3.1936, Typoskript, 2 Blatt; 3. "Dr. Horkheimer's Paper Delivered on the Occasion of an Institute Luncheon Given to the Faculty of Social Sciences of Columbia University on January 12th, 1937". Typoskript, 13 Blatt; 4. Bericht an den Präsidenten der Columbia University. 18.3.1937, Typoskript, 3 Blatt; 5. Über Programm, Mitglieder und Tätigkeiten des Instituts, 1937, a) Typoskript, 2 Blatt, b) Entwurf, Typoskript, 4 Blatt; 6. Publikationsliste 1937, Typoskript, 1 Blatt; Über "Autorität und Familie" und die "Zeitschrift für Sozialforschung". 1937, Typoskript, französisch, mit eigenhändigen Korrekturen, 4 Blatt; Max Horkheimer: Über das Institut für Sozialforschung 1938: 1. Typoskript, englische Fassung, mit handschriftlichen Korrekturen, 38 Blatt; 2. Typoskript, deutsche Fassung mit eigenhändigen Korrekturen, 37 Blatt (G.S. 12, S. 132-164); 3. Julian Gumperz: 1 Brief an Herbert Marcuse, New York, 30.8.1938; 4. Teilstück aus früherer Fassung (?), Typoskript, 1 Blatt, 5. Entwurf zu 2., a) Typoskript, 1 Blatt, b) Typoskript mit eigenhändigen Korrekturen und Ergänzungen, 2 Blatt;

ANALISANDO A RELAÇÃO DOS VOLUMES DE EXPORTAÇÃO E DE IMPORTAÇÃO, PIB, TAXAS DE CÂMBIO E INFLAÇÃO NO PERÍODO DE 2004 A 2014.

Esta dissertação visa deslumbrar uma análise macroeconômica do Brasil, especialmente no que se refere à relação dos índices mensais dos volumes das exportações e das importações com os volumes mensais do PIB, da Taxa SELIC e as Taxas de Câmbio, conforme dados coletados no período de janeiro de 2004 a dezembro de 2014, através de pesquisa literária referente aos históricos sobre cada conceito envolvido no âmbito da macroeconomia das varáveis estudadas. Foi realizado um estudo de caso embasado em dados de sites governamentais, no período delimitado, empregando-se o método de regressão linear, com base na Teoria da correlação de Pearson, demonstrando os resultados obtidos no período do estudo para as varáveis estudadas. Desta maneira, conseguiu-se estudar e analisar como as variáveis dependentes (resposta): volume das exportações e volume das importações estão relacionadas com as varáveis independentes (explicativas): PIB, Taxa Selic e taxa de Câmbio. Os resultados apurados no presente estudo permitem identificar que existe correlação moderada e negativa, quando analisadas a Taxa Selic e a Taxa de Câmbio com os volumes das exportações e das importações, enquanto o PIB apresenta correlação forte e positiva na análise com os volumes das exportações e das importações

Az árak észlelése és értékelése(Perception and Evaluation of Prices)

A 2008-ban kezdődött gazdasági válság a korábbiaknál is fontosabbá tette az árakat a vásárlók számára. Azt eddig is mindenki tudta, hogy az árak alapvetően befolyásolják a fogyasztók vásárlási döntését. Arra a kérdésre azonban, hogy miképpen, már nem mindig tudunk pontos választ adni. A közgazdaságtan szerint az árak csökkenése növeli a fogyasztók vásárlási hajlandóságát és fordítva, az árak emelkedése kisebbíti azt. A valóság azonban nem mindig írható le közgazdaságtani fogalmakkal vagy matematikai képletekkel. _______ Since the beginning of the global economic recession prices have become more and more important for sellers and buyers. To study the role of prices in consumer behaviour is a rather new field of marketing research. The paper starts out from the fact that prices can be regarded as a multidimensional stimulus, which influences the purchasing decision of consumers. The study describes the process how, in this multidimensional pricing environment, consumers get from the perception through the evaluation of prices to the purchasing decision. According to the model constructed by the author the perception of prices depends on the presentation of prices and on the willingness and ability of people to numerically perceive and evaluate the different presentations of prices. In the process how consumers get from the perceived prices through the excepted prices to the purchasing decision the perceived value plays the most important role. The perceived value is motivated by the internal and external reference prices and the perceived reference value. The paper comes to the conclusion that in recession and post recession times, companies are compelled to understand these processes better to be able to set their price points according to the changing buyers behaviour.

El dinero en la historia del pensamiento económico: la teoría monetaria postkeynesiana y su confrontación con la ortodoxia

Las disputas en torno a determinados aspectos del dinero, como su neutralidad y el carácter endógeno o exógeno de la oferta monetaria, han sido permanentes entre las distintas escuelas de pensamiento y autores, estando su origen, probablemente, en la época de desarrollo del pensamiento escolástico. En este artículo pretendemos, en primer lugar, realizar un recorrido cronológico e histórico sobre el tratamiento científico económico del dinero, para, en segundo lugar, poner sobre la mesa la macroeconomía ortodoxa a la que han dado lugar las interpretaciones al respecto, así como los enfoques alternativos frente a este pensamiento dominante. Finalmente, intentamos poner en valor los desarrollos monetarios post-keynesianos, integrados en lo que denominan “Economía Monetaria de Producción”, confrontándolos con la llamada Nueva Síntesis Neoclásica.

Fighting corruption with pyramids: A Law and Economics approach to combating corruption in post-socialist countries

Corruption is, in the last two decades, considered as one of the biggest problems within the international community, which harms not only a particular state or society but the whole world. The discussion on corruption in law and economics approach is mainly run under the veil of Public choice theory and principal-agent model. Based on this approach the strong international initiatives taken by the UN, the OECD and the Council of Europe, provided various measures and tools in order to support and guide countries in their combat against corruption. These anti-corruption policies created a repression -prevention-transparency model for corruption combat. Applying this model, countries around the world adopted anti-corruption strategies as part of their legal rules. Nevertheless, the recent researches on the effects of this move show non impressive results. Critics argue that “one size does not fit all” because the institutional setting of countries around the world varies. Among the countries which experience problems of corruption, even though they follow the dominant anti-corruption trends, are transitional, post-socialist countries. To this group belong the countries which are emerging from centrally planned to an open market economy. The socialist past left traces on institutional setting, mentality of the individuals and their interrelation, particularly in the domain of public administration. If the idiosyncrasy of these countries is taken into account the suggestion in this thesis is that in public administration in post-socialist countries, instead of dominant anti-corruption scheme repression-prevention-transparency, corruption combat should be improved through the implementation of a new one, structure-conduct-performance. The implementation of this model is based on three regulatory pyramids: anti-corruption, disciplinary anti-corruption and criminal anti-corruption pyramid. This approach asks public administration itself to engage in corruption combat, leaving criminal justice system as the ultimate weapon, used only for the very harmful misdeeds.

Economics of the new member states: A post-crisis perspective

This essay addresses four major issues confronting the Central and Eastern European new members of the European Union in the decade to come. First: what to think of the financial meltdown of 2008-2009. Second, what have they learned from the tremors, having shaken the previous star performers of the EU? Third we ask if we can expect a return to ‘normalcy' as forecast by most models of financial rating agencies and international financial institutions? Fourth the question is raised what did the new members benefit from their EU membership? Some conclusions on the future of EU reforms and policies close the overview.

Global economics governance in the post-crisis world

The Great Crisis has made it clear once again that avoiding the derailment of globalization of trade and finance and the protecting the globe from fragmentation call for enhanced global cooperation and an efficient, flexible and coherent system of global governance. Three interconnected levels (national, regional, and global) comprise the system of global governance. This paper is dealing with some of the main issues of global economic governance in the post-crisis world. It reveals that the turbulence and the distress of the world of the early 21st century have deeper roots and broader sources than the crisis. Global governance therefore has to respond much broader set of challenges in comprehensive framework and long term perspective.

Transitional Justice as a Post-Revolution Constitutional Arrangement: A Law and Economics Approach

This dissertation addresses the timely questions of transitional justice (TJ) in the aftermath of revolutions against autocratic regimes, dealing with TJ as a constitutional arrangement through the lenses of constitutional economics. After an introductory chapter, chapter 2 deals with why nations rarely adopt meaningful TJ processes in the first place, it then explains the limitations of civil society as the arbiter, facilitator, and enforcer of TJ policies. Chapter 3 tackles the question of which mechanisms to choose? It uses the UN Guidelines on TJ that sets five principal TJ mechanisms. It provides a cost-benefit analysis (CBA) of each mechanism and suggests policy implications accordingly. The CBA inspires chapter 4 analysis, suggesting a tradeoff between restrictive fair trial standards under constitutional laws and justice considerations. The tradeoff explains the suggested efficiency of the balanced TJ approaches that combine trials and amnesties. This approach is used for the case study analysis of TJ in Tunisia after the 2011 revolution in chapter 5. The chapter presents the first index of TJ mechanisms in Tunisia through novel data collected by the author. It shows an ultimate TJ design that ended with a modest harvest in the application. The lack of cooperation between the Tunisian parties, added to the absence of transparency in many TJ measures, threatens any possible positive outcomes of the partial TJ process. It is also alarming regarding constitutional compliance in a system that – until recently - was considered the only democracy in the Arab region. Chapter 6 is a summary

Financial leverage and tangibility of assets of Brazilian companies of agribusiness in the post-real plan period

This paper aims to study the relationship between the debt level and the asset structure of Brazilian companies of the agribusiness sector, since it is considered a current and relevant discussion: to evaluate the mechanisms for fund-raising and guarantees. The methodology of Granger`s Causality test and Autoregressive Vectors was used to conduct a comparative analysis, applied to a financial database of companies with open capital of Brazilian agribusiness, in particular the agricultural sector and Fisheries and Food and Beverages in a period of 10 years (1997-2007) from quarterly series available in the database of Economatica(R). The results demonstrated that changes in leverage generate variations in the tangibility of the companies, a fact that can be explained by the large search of funding secured by fiduciary transfer of fixed assets, which facilitates access to credit by business of the Agribusiness sector, increasing the payment time and lowering interest rates.

Basel III: The impact of an increase in regulation in a recession framework

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

The institutions of archaic post-modernity and their organizational and managerial consequences: The case of Portugal

The long march of modernization of the Western societies tends to be presented as following a regular sequence: societies and institutions were pre-modern, and then they were modernized, eventually becoming post-modern. Such teleology may provide an incomplete or distorted narrative of societal evolution in many parts of the world, even in the ‘post-modern heartland’ of Western Europe, with Portugal being a case in point. The concept of archaic post-modernity has been developed by a philosopher, José Gil, to show how Portuguese institutions and organizations combine elements of pre-modernity and post-modernity. The notion of an archaic post-modernity is advanced in order to provide an alternative account of the modernization process, which enriches discussion of the varieties of capitalism. Differences in historical experiences create singularities that may be considered in the analysis of culture, management and organization.

Effects of selected post harvest processes on brown crab (Cancerpagurus L.) and European lobster (Homarus gammarus L.) from Irish Crustacean Fisheries

The crustacean fishery is important to the socio economics of rural and island communities around Ireland; with brown crab (Cancer pagurus) and European lobster (.Homarus gammarus) being the most valuable shellfish species. Brown crab and lobster are marketed live with the majority being exported from Ireland to southern Europe. Post capture processes used in Ireland are very subjective but promote fresh, live products. Common practices used in the crustacean fishery include nicking of brown crab and long term storage of lobster. This study showed that nicking resulted in elevated mean lactate levels of 17.90% (StDev ± 1.74) and elevated mean glucose levels of 120.55 % (StDev ± 0.26) with mean circulating bacteria levels 9 times greater in nicked crab. Nicking resulted in 96.3% increase in tissue necrosis and a subsequent reduction in product quality. These factors possibly compromise the host’s defense system, which may ultimately reduce the animal’s ability to cope with additional stressors caused by post-harvest processes. Long term storage allows lobster to be stored until the market is less saturated and prices are higher. This investigation found that some lobsters contracted bacterial biofilms as a result of long term storage. Bacteria isolated from biofilms were identified as Arcobacter and Campylobacterales with identity and alignment scores of 80% andd 88% respectively.