Import substitution and economic growth

In spite of Latin America s dismal economic performance between the 1950s and 1980s, the region experienced strong capital deepening. Furthermore, pro- ductivity (measured as TFP) grew at low rates in comparison with the U.S. In this paper, we suggest that all these facts can be explained as a consequence of the restrictive trade regime adopted at that time. Our analytical framework is based on a dynamic Heckscher-Ohlin model, with scale economies in the capital- intensive sector. We assume an economy that is initially open and specialized in the production of labor-intensive goods. The trade regime is modeled as a move to a closed economy. The model produces results consistent with the Latin American experience. Speci cally, for a su¢ ciently small country, there will be no long-run growth in income per capita, but capital per capita will increase. As a result, measured TFP will fall.

Debt and default in a growth model

This paper presents a small open economy model with capital accumulation and without commitment to repay debt. The optimal debt contract specifies debt relief following bad shocks and debt increase following good shocks and brings first order benefits if the country's borrowing constraint is binding. Countries with less capital (with higher marginal productivity of capital) have a higher debt-GDP ratio, are more likely to default on uncontingent bonds, require higher debt relief after bad shocks and pay a higher spread over treasury. Debt relief prescribed by the optimal contract following the interest rate hikes of 1980-81 is more than half of the debt forgiveness obtained by the main Latin American countries through the Brady agreements.

Growth process in business and social entrepreneurship: the case of Brazil

The purpose of the dissertation is to investigate in depth the difference between the challenges social and business entrepreneurs face in the growth phase of their business in the particular environment of Brazil. This objective has been achieved through a two-steps methodology. The first step is a set of in-depth interviews carried out with industry experts such as professors, venture capitalists, consultants, fund managers or people involved in the support of growing startups (i.e. accelerators). These interviews allowed, first, to build a general perspective on the environment entrepreneurs operate into and to identify a list of challenges entrepreneurs face in the growth process of their business. This list was completed with the additional challenges identified in the previous literature. The second step of the methodology was to test the relevance of these challenges in the mind and experience of social and traditional entrepreneurs. A questionnaire was then submitted to 145 social and 286 traditional entrepreneurs. The results were statistically analyzed to test the relative relevance of these challenges for one group of entrepreneurs with respect to the other. The outcome of the analysis was significant. The most relevant challenges identified were, for both groups, taxation, bureaucracy, finding the right employees, creating effective teams, measuring firm performance and social value creation and obtaining funds. On the other side motivation, innovation, competition and lack of market space for growth represented the least relevant issues in the minds of entrepreneurs. This rank however did not differ significantly from social to traditional entrepreneurs. This testifies that in Brazil social and traditional entrepreneurs face the same set of challenges despite the widespread belief of the opposite.

High-growth SMEs and the availability of private equity and venture capital in Brazil

This chapter discusses private equity and venture capital (PE/VC) in Brazil. Firstly, it is shown that PE/VC has a strong impact in the Brazilian capital markets, with PE/VC-backed companies representing close to half the amount raised by initial public offerings (IPOs) in the stock exchanges. By examining two of these deals, which involved small and mediumsized enterprises (SMEs), it is argued that PE/VC managers have acted as catalysts of the impressive growth rates experienced before these companies entered the stock markets. Indeed, PE/VC firms represent an important segment of the capital market, with specialization to invest in high-growth innovative SMEs. PE/VC managers exercise superior selection, monitoring and governance that mitigate the uncertainty and risks of investing in such companies. Despite its successes in Brazil, PE/VC is still very much restrained by the challenging local economic and institutional environment. Thus, changes in the legal and fiscal system, simplification in bureaucratic procedures, and other such improvements will most likely result in a sensible growth in the Brazilian PE/VC industry, with positive impact in the SME access to finance in Brazil. Since most countries in Latin America share similar economic and institutional traits with Brazil, the path followed by the local PE/VC industry can serve as an example for other countries to learn with its successes and failures.

Growth and mineral nutrition of Solanum americanum

Um experimento em casa de vegetação foi conduzido entre novembro de 1995 e abril de 1996 na FCAV/UNESP, Brasil, objetivando estudar a produção de matéria seca, a distribuição e o acúmulo de macronutrientes por Solanum americanum - uma importante planta infestante de culturas anuais e perenes no Brasil. As plantas foram cultivadas em vasos de 7 L com substrato de areia, os quais foram irrigados diariamente com solução nutritiva de Hoagland & Arnon. O delineamento experimental foi inteiramente casualizado, com quatro repetições. Os tratamentos corresponderam às épocas de avaliação, em intervalos de 14 dias, iniciando-se 21 dias após a emergência (DAE). em cada avaliação, as plantas de quatro vasos foram analisadas quanto à produção de matéria seca e ao conteúdo de macronutrientes. S. americanum apresentou pequeno acúmulo de matéria seca e de macronutrientes no início da fase experimental. Esses acúmulos intensificaram-se após 77 DAE, atingindo o máximo valor teórico aos 142, 142, 164, 149, 140, 149 e 152 DAE, para matéria seca, N, P, K, Ca, Mg e S, respectivamente. K e N foram os macronutrientes acumulados em maior quantidade por plantas de S. americanum.

Vertical growth of mini watermelon according to the training height and plant density

A melancia é uma espécie tradicionalmente conduzida em campo no sistema rasteiro. As cultivares de frutos pequenos (1 a 3 kg), que adquirem melhores preços de mercado, vêm sendo cultivadas também em ambiente protegido, onde são conduzidas no sistema vertical, com poda de ramos e raleio de frutos. Essas práticas possibilitam aumentar o adensamento das plantas, a qualidade e a produtividade de frutos em comparação ao sistema rasteiro. Objetivou-se com este trabalho avaliar a influência de três alturas de condução (1,7; 2,2 e 2,7 m) e duas densidades de plantas (3,17 e 4,76 plantas m-2) sobre as características produtivas e qualitativas da mini melancia Smile cultivada em ambiente protegido. A poda da haste principal foi realizada aos 43, 55 e 66 dias após o transplante (DAT) para as alturas de condução de 1,7; 2,2 e 2,7 m, respectivamente. A massa seca dos ramos, dos pecíolos, das folhas e total foram afetados pela altura de condução, cujos maiores valores foram obtidos para as plantas conduzidas a 2,2 e 2,7 m de altura. A área foliar, a área foliar específica e o índice de área foliar não foram influenciados pela altura de condução das plantas. A altura de condução de 2,7 m elevou a produtividade total. Entretanto, a produtividade comercial, a massa média dos frutos e todas as características qualitativas não foram significativamente diferentes das obtidos pela altura de poda de 2,2 m. em relação à densidade de plantas, a melhor opção foi a de 4,76 plantas m-2, pois elevou a produtividade comercial em 37,4% sem reduzir a massa média dos frutos.

Ornithine decarboxylase expression in the small intestine of broilers submitted to feed restriction and glutamine supplementation

Six hundred and forty one-day-old Cobb male broilers were used to evaluate ornithine decarboxylase (ODC) expression in the mucosa of the small intestine. Birds were submitted to early feed restriction from 7 to 14 days of age. The provided feed was supplemented with glutamine. A completely randomized design with a 2 x 2 factorial arrangement was used (with or without glutamine, with or without feed restriction). Restricted-fed birds were fed at 30% the amount of the ad libitum fed group from 7 to 14 days of age. Glutamine was added at the level of 1% in the diet supplied from 1 to 28 days of age. Protein concentration in the small intestine mucosa was determined, and ODC expression at 7, 14, 21, and 28 days of age was evaluated by dot blotting. ODC was present in the mucosa of broilers, and the presence of glutamine in the diet increased ODC activation. Glutamine prevented mucosa atrophy by stimulating protein synthesis, and was effective against the effects of feed restriction. Dot blotting can be used to quantify ODC expression in the intestinal mucosa of broilers.

Growth and mineral nutrition of Ipomoea quamoclit

Um experimento em casa de vegetação foi conduzido entre novembro de 2006 e abril de 2007, na FCAV/UNESP, Brasil, objetivando estudar a produção de massa seca, a distribuição e o acúmulo de macronutrientes por Ipomoea quamoclit, uma importante planta infestante de culturas anuais e perenes no Brasil. As plantas foram cultivadas em vasos de 7 L com substrato de areia, que foram irrigados diariamente com solução nutritiva de Hoagland & Arnon. O delineamento experimental foi inteiramente casualizado, com quatro repetições. Os tratamentos corresponderam às épocas de avaliação, em intervalos de 14 dias, iniciando-se 21 dias após a emergência (DAE). em cada avaliação, as plantas de quatro vasos foram analisadas quanto à produção de massa seca e ao conteúdo de macronutrientes. I. quamoclit apresentou pequeno acúmulo de massa seca e de macronutrientes no início da fase experimental. Esses acúmulos intensificaram-se após 77 DAE, atingindo o máximo valor teórico aos 146, 143, 140, 149, 142, 153 e 124 DAE, para massa seca, N, P, K, Ca, Mg e S, respectivamente. K e N foram os macronutrientes acumulados em maior quantidade por plantas de I. quamoclit.

Genetic associations of sexual precocity with growth traits and visual scores of conformation, finishing, and muscling in Nelore cattle

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

Influence of data structure on the estimation of the additive genetic direct and maternal covariance for early growth traits in Nellore cattle

The objective of the present study was to investigate the effect of data structure on estimated genetic parameters and predicted breeding values of direct and maternal genetic effects for weaning weight (WW) and weight gain from birth to weaning (BWG), including or not the genetic covariance between direct and maternal effects. Records of 97,490 Nellore animals born between 1993 and 2006, from the Jacarezinho cattle raising farm, were used. Two different data sets were analyzed: DI_all, which included all available progenies of dams without their own performance; DII_all, which included DI_all + 20% of recorded progenies with maternal phenotypes. Two subsets were obtained from each data set (DI_all and DII_all): DI_1 and DII_1, which included only dams with three or fewer progenies; DI_5 and DII_5, which included only dams with five or more progenies. (Co)variance components and heritabilities were estimated by Bayesian inference through Gibbs sampling using univariate animal models. In general, for the population and traits studied, the proportion of dams with known phenotypic information and the number of progenies per dam influenced direct and maternal heritabilities, as well as the contribution of maternal permanent environmental variance to phenotypic variance. Only small differences were observed in the genetic and environmental parameters when the genetic covariance between direct and maternal effects was set to zero in the data sets studied. Thus, the inclusion or not of the genetic covariance between direct and maternal effects had little effect on the ranking of animals according to their breeding values for WW and BWG. Accurate estimation of genetic correlations between direct and maternal genetic effects depends on the data structure. Thus, this covariance should be set to zero in Nellore data sets in which the proportion of dams with phenotypic information is low, the number of progenies per dam is small, and pedigree relationships are poorly known. (c) 2012 Elsevier B.V. All rights reserved.

Growth curve in Santa Ines sheep

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Modeling of average growth curve in Santa Ines sheep using random regression models

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Effects of aluminum on plant growth and nutrient uptake in young physic nut plants

Aluminum (Al3+) toxicity is a major limiting factor to crop productivity in acid soils. The effects of aluminum on root and shoot growth of physic nut (Jatropha curcas L.) young plants and, the uptake and distribution of phosphorus, calcium, magnesium and aluminum in the roots and shoots were investigated in the present study. Plants were grown in 2.5L pots in a greenhouse. After fourteen days of adaptation to nutrient solution, plants were exposed to Al concentrations of 0, 370, 740, 1,100 and 1,480 mu mol L-1, corresponding to an active Al3+ solution of 13.3, 35.3, 90.0, 153.3 and 220.7 mu mol L-1, respectively. The dry matter partitioning between roots, stems and leaves, and the concentrations of P, Ca, Mg and Al in plant tissue, were measured after 75 days exposure to Al. The increasing level of Al3+ activity in solution progressively decreased the growth of the shoot and root of physic nut plants, and at the two highest active Al3+ levels, plants showed morphological abnormalities typical of the toxicity caused by this metal. Higher Al3+ activity reduced P concentrations in leaves and Ca and Mg in leaves and roots of physic nut, demonstrating the effect of Al on the uptake, transport and use of these nutrients by plants. The Al accumulated preferentially in the roots of physic nut, whereas only a small amount was transported to shoots.

Growth evolution of ZnO thin films deposited by RF magnetron sputtering

We study the surface morphology evolution of ZnO thin films grown on glass substrates as a function of thickness by RF magnetron sputtering technique. The surface topography of the samples is measured by atomic force microscopy (AFM). All AFM images of the films are analyzed using scaling concepts. The results show that the surface morphology is initially formed by a small grains structure. The grains increase in size and height with growth time resulting in the formation of a mounds-like structure. The growth exponent, beta, and the exponent defining the evolution of the characteristic wavelength of the surface, p, amounted to beta = 0.76 +/- 0.08 and p = 0.3 +/- 0.05. From these exponents, the surface morphology is determined by the nonlocal shadowing effects, that is the dominant mechanism, due to the incident deposition particles during film growth.

Effects of incubation temperature on muscle morphology and growth in the pacu (Piaractus mesopotamicus)

This study describes the influence of incubation temperature during initial development phase on the morphology and muscle growth characteristics in the pacu (Piaractus mesopotamicus). Pacu eggs were incubated at 25, 27, and 29 degreesC until hatching. After day 5, fish from each temperature were transferred to 5001 tanks. At hatching and after 5, 25, and 60 days, muscle samples were collected, some were frozen in liquid nitrogen and others fixed in 4% paraformaldehyde or 2.5% glutaraldehyde. These samples were used for morphological, histochemical, immunohistochemical, and morphometric analysis. At hatching, we observed a superficial monolayer of small diameter fibers, lying just beneath the skin surrounding several round cells. From day 5, we observed two distinct populations of muscle fibers distributed in two layers: (1) red-in a superficial region with aerobic activity, and following acid preincubation, high mATPase activity, and 2) white-with anaerobic activity, and following alkaline preincubation, high mATPase activity. Twenty-five days after hatching, an intermediate layer and cell proliferating zones could be seen in the dorsal fin muscle region, with intermediate characteristics. Throughout the experimental period, there was an increase in muscle mass due to new fiber recruitment in the cell proliferating zones and between the more differentiated fibers in red, intermediate, and white muscles. This was more obvious from day 25, and at 29 degreesC than at 25 and 27 degreesC. Fiber hypertrophy occurred from hatching to 60 days and was more evident from 5 to 25 days. The number of proliferating nuclei (PCNA-labelling) increased from hatching to 60 days, and was more obvious in the 29 degreesC group at 60 days. Our results show that at incubation temperatures of 25, 27 and 29 degreesC, hypertrophy was predominantly from hatching to 25 days, after that muscle growth by hyperplastic mechanism increased. The interaction of muscle hypertrophic and hyperplastic growth processes in the 29 degreesC group produced the largest fish at the end of the experiment. (C) 2004 Elsevier B.V. All rights reserved.