The exhaustion of the brazilian growth cycle

O Brasil recebeu muita atenção na última década, sua ascensão ao status de grande potência e uma das maiores economias mundiais tem sido enfatizada. No entanto, existem sinais de que essa prosperidade recente está chegando ao fim, sugerindo que houve um excesso de otimismo em relação ao aparente sucesso econômico do país e a possiblidade de crescimento contínuo. O Brasil focou na exportação de produtos primários e em um modelo de crescimento baseado no consumo, que se tornaram as locomotivas da economia. Uma pujante economia mundial demandando produtos primários e um amplo e inexplorado mercado interno ajudam a explicar o crescimento brasileiro na década passada. Não obstante, esse modelo apresenta diversas limitações. A inflação, mais uma vez, está em alta e os gargalos que impedem o desenvolvimento econômico não foram resolvidos. O objetivo desta dissertação é demonstrar que o atual ciclo de crescimento da economia brasileira está no fim. Dados de diversas fontes, nacionais e internacionais, serão usados para indicar que, novamente, o país teve um crescimento efêmero e não possui uma estrutura econômica adequada para promover o desenvolvimento de longo prazo. Uma breve análise dos fundamentos econômicos, clima de negócios e outros tópicos relacionados ao crescimento e desenvolvimento será apresentada, articulando dados e fatos para encontrar causas e explicações para a atual inversão de tendência econômica.

Business support networks for social businesses: a study of the Brazilian ecosystem

Negócios sociais, empresas autossuficientes com objetivos principalmente sociais estão a surgir e a mudar o cenário económico mundial. No Brasil, o campo de Empreendedorismo Social promete ajudar a resolver os vários problemas sociais do país, mas tal promessa depende do desenvolvimento de um ecossistema de suporte. No entanto, a pesquisa desenvolvida no tópico ainda é limitada, especialmente quando considerando pesquisa em contextos macro como estruturas de suporte ao negócio. O presente estudo explora o ecossistema de suporte aos negócios sociais no Brasil, oferecendo uma análise qualitativa preliminar da eficácia da rede de suporte existente para os negócios sociais, de acordo com as perceções de empreendedores sociais e prestadores de suporte. O estudo é desenvolvido baseando-se no modelo conceptual de Turrini et al. (2010) sobre os determinantes de eficácia de redes a fim de facilitar a captura de padrões. Desta forma, cada variável de eficácia de redes é desenvolvida no contexto da presente investigação e as principais conclusões relativas ao ecossistema de suporte para negócios sociais no Brasil são destacadas. Os resultados sugerem um rápido crescimento da disponibilidade de suporte para negócios sociais, mas indicam que estes serviços ainda são em número limitado e concentrados no Sudeste do país. Adicionalmente, os serviços de suporte são percecionados pelos empreendedores sociais como serviços de alta qualidade e embora se observe um sentimento generalizado de que a colaboração entre organizações de suporte tem sido importante para a construção do campo, os resultados indicam que um maior nível de interação e formalização entre prestadores de suporte levaria a maiores níveis de criação de sinergias e potenciaria a construção do ecossistema. Por último, é observado um sentimento generalizado de que o crescente nível de recursos financeiros, consciência pública e apoio do governo ao campo impactarão positivamente o desenvolvimento do ecossistema.

Informal labor contracts: an analysis of the Brazilian experience

For representing an expressive souree of labor absorption, the jobs with informal labor eontraet have been reeeiving a eonsiderable attention among the speeialists in the Brazilian labor rnarket. This paper presents, eoneisely, some stylized faets about this labor rnarket segment, as well as some oftheir most eommon interpretations. We argue that sue h interpretations are, in general, not very integrated and a model trying to make them eompatible is developed. The model ineorporates both segmentation and workers with heterogeneity in qualifieation. The results of the analysis are shown to be eompatible with most of the observed faets.

Avoiding some costs of inflation and crawling toward hyperinflation : the case of the Brazilian domestic currency substitute

The pattem of a classical hyperinflation is an acute acceleration of the inflation levei accompanied by rapid substitution away from domestic currency. Brazil, however, has becn experiencing inflation leveis well above 1,000% a year since 1988 without entering the classical hyperinflation path. Two elements play key roles in differcntiating the Brazilian case from other hyperinflationary experiences: indexation and the provision of a reliable domestic currency substitute, Le., the provision of liquidity to interest-bearing assets. This paper claims that the existence of this domestic currency substitute is lhe main source of both lhe inability of the Brazilian central bank to fight inflation and of the unwillingness of Brazilians to face the costs of such a fight. The provision of the domestic currency substitute through the banking sector is modeled, and the main macroeconomic consequences of this monetary regime are derived. Those are: the lack of a nominal anchor for the price system due to the passive monetary policy; the endogeneity of seignorage unlikc traditional models of hyperinflation; and lhe ineffectiveness of very high real interest rates.

Factors affecting the technical efficiency of production of the Brazilian banking system : a comparison of four statistical models in the context of data envelopment analysis

This paper uses an output oriented Data Envelopment Analysis (DEA) measure of technical efficiency to assess the technical efficiencies of the Brazilian banking system. Four approaches to estimation are compared in order to assess the significance of factors affecting inefficiency. These are nonparametric Analysis of Covariance, maximum likelihood using a family of exponential distributions, maximum likelihood using a family of truncated normal distributions, and the normal Tobit model. The sole focus of the paper is on a combined measure of output and the data analyzed refers to the year 2001. The factors of interest in the analysis and likely to affect efficiency are bank nature (multiple and commercial), bank type (credit, business, bursary and retail), bank size (large, medium, small and micro), bank control (private and public), bank origin (domestic and foreign), and non-performing loans. The latter is a measure of bank risk. All quantitative variables, including non-performing loans, are measured on a per employee basis. The best fits to the data are provided by the exponential family and the nonparametric Analysis of Covariance. The significance of a factor however varies according to the model fit although it can be said that there is some agreements between the best models. A highly significant association in all models fitted is observed only for nonperforming loans. The nonparametric Analysis of Covariance is more consistent with the inefficiency median responses observed for the qualitative factors. The findings of the analysis reinforce the significant association of the level of bank inefficiency, measured by DEA residuals, with the risk of bank failure.

Strategic options development and analysis: the case of the brazilian railways

Judging by their success in Europe, Asia and North America, passenger and cargo railways are appreciated as the key to infrastructural development in Brazil. The issues are complex and steeped in uncertainty, as well as political and economic agendas, and a wide array of intersecting issues such as business and unionized interests, agricultural and industrial geographical spreads, as well as the emergence of alternative power sources. Not only are the issues systemic, but railway development itself always comes as a physical network structure. The situation under consideration, in other words, is systemic from both the soft and hard systems point of view, thus promising a rich context for systems studies. As an initial attempt in understanding the situation at hand, the research reported here applied the problem structuring approach known as Strategic Options Development and Analysis (SODA) in order to map and analyze issues facing the Brazilian railways. Strategic options for the future development of the railways were identified and analyzed, and ways forward for future research are proposed. In addition, the report serves as an initial knowledge base that can guide future systemic planning studies in the industry.

Exclusivity contracts and competition : the case of the Brazilian fuels market

Exclusivity contracts can help stations by providing brand-value that allows them to obtain higher profits, relative to unbranded retailers. However, branded retailers may have a stronger negative effect over its competitors’ profits. It is not clear which one of these two effects dominates (brand-value vs competition effect). Therefore, the impact of exclusivity over the number of participants in the downstream market is not determined. In this paper, I empirically study the effects of exclusivity agreements on competition in the Brazilian gasoline sector. In order to do so, I estimate an entry model of endogenous product-type choices using data of retailers’ locations and contract choices along with data from the 2010 Brazilian Census. I use my estimates to simulate entry decisions under two counterfactual scenarios: i) mandatory exclusivity and ii) no exclusivity.

Characterization of condensed tannins from native legumes of the Brazilian northeastern semi-arid

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

Spermatozoon ultrastructure and sperm cryopreservation of the Brazilian dry season spawner fish pirapitinga, Brycon nattereri

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Archival information and organic information: a conceptual analysis of the Brazilian literature

Information has increasingly become a crucial resource for organizations that want to remain competitive in the market. For this reason, analysis and a correct understanding of informational types that are present in these environments become relevant to achieving the highest levels of performance. The aim of this paper is to review the literature of the concepts of organic and archival information within the organizational context/business environments. This is still an emerging theoretical field and therefore is conducive to intense discussions. We point out elements that help to characterize and distinguish these two types of information.

Antimicrobial resistance of isolated Streptococcus pneumoniae in a hospital of the Brazilian public system

Streptococcus pneumoniae is the predominant bacterial agent that affects the human population with pneumonia. This disease is an important cause of death in the elderly and the children under five years old. In this study, 29 strains of invasive S. pneumoniae were isolated from 29 patients of pneumonia, bacteremia and meningitis in the laboratory of the Municipal Hospital in Paulinia, Brazil, from May 2006 to October 2007. Patients' age ranged from 8 months old to 60 years old. These strains of S. pneumoniae were isolated from blood, pleural fluid and cerebrospinal fluid (CSF) of patients. After typing of encapsulated strains of S. pneumoniae through quellung reaction, their resistance to antimicrobial agents was gauged through Disc Diffusion Technique followed by determination of minimum inhibitory concentration (MIC). Among the 29 strains analyzed, 23 were methicillin-sensitive and six were methicillin-resistant and penicillin intermediate resistant. No strain presented full resistance to penicillin. Serotyping was performed only in two samples, which belonged to serotype 18. Our data may alert ambulatory regarding the incidence of pneumococcal strains resistant to the most common drugs due to inappropriate use of antimicrobials and also collaborate to the elaboration of pneumococcal conjugate vaccines specific to each region.

Validation of the Brazilian versions of two inventories for measuring oral health-related quality of life of edentulous subjects

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

The pulvinus endodermal cells and their relation to leaf movement in legumes of the Brazilian cerrado

Legume pulvini have a clearly delimited endodermis, whose variable content has been associated with the velocity and type of leaf movement: pulvini in leaves with fast nastic movement contain starch grains; pulvini in leaves with slow nastic movements have calcium oxalate crystals as well as starch grains in the endodermis. However, the studies carried out to date have involved few legume species. This study therefore purported to examine the consistency of this hypothesis in other legumes. Thus, the structure and content of the pulvinus endodermal cells of nine legumes of the Brazilian cerrado, with different types and velocities of leaf movement, were investigated: slow nyctinastic and heliotropic movements (Bauhinia rufa, Copaifera langsdorffii, Senna rugosa - Caesalpinioideae; Andira humilis and Dalbergia miscolobium - Faboideae; Stryphnodendron polyphyllum - Mimosoideae), slow heliotropic movement (Zornia diphylla - Faboideae), and fast seismonastic and slow nyctinastic and heliotropic movements (Mimosa rixosa and Mimosa flexuosa - Mimosoideae). Samples were prepared following standard plant anatomy and ultrastructure techniques. The endodermis of all the species contains starch grains. In the species displaying only slow movements, calcium oxalate prismatic crystals were observed in addition to starch grains, except in Zornia diphylla. in conclusion, oxalate crystals occur only in endodermal cells of pulvini that display slow movements, while starch grains are always present in pulvinus endodermal cells of plants with any kind of movement.

Orpotrin: A novel vasoconstrictor peptide from the venom of the Brazilian Stingray Potamotrygon gr. orbignyi

Characterization of the peptide content of venoms has a number of potential benefits for basic research, clinical diagnosis, development of new therapeutic agents, and production of antiserum. In order to analyze in detail the peptides and small proteins of crude samples, techniques such as chromatography and mass spectrometry have been employed. The present study describes the isolation, biochemical characterization, and sequence determination of a novel peptide, named Orpotrin from the venom of Potamotrygon gr. orbignyi. The natural peptide was shown to be effective in microcirculatory environment causing a strong vasoconstriction. The peptide was fully sequenced by de novo amino acid sequencing with mass spectrometry and identified as the novel peptide. Its amino acid sequence, HGGYKPTDK, aligns only with creatine kinase residues 97-105, but has no similarity to any bioactive peptide. Therefore, possible production of this peptide from creatine kinase by limited proteolysis is discussed. Taken together, the results indicate the usefulness of this single-step approach for low molecular mass compounds in complex samples such as venoms. (c) 2006 Elsevier B.V. All rights reserved.

Populations analysis of the Brazilian Sharpnose Shark Rhizoprionodon lalandii (Chondrichthyes: Carcharhinidae) on the São Paulo coast, Southern Brazil: inferences from mt DNA sequences

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