The role of the BNDES in the Brazilian development financing: contributions from the paper “towards a legal theory of finance” of Katharina Pistor

This paper aims to verify the main contributions and adjustments that the paper “Towards a Legal Theory of Finance” from Katharina Pistor may bring to the role of the Brazilian National Bank for Economic and Social Development (BNDES) in the Brazilian development financing. In order to do so, I work with two questions in this paper: (i) such theory presents elements which allow analyzing the role of the BNDES and from there, if it is required, adjustments can be made in the governance of the BNDES? and (ii) there are academics and scholars that, together with the theory, also contribute with the improvement of the BNDES role in the development of Brazil?

Important, unimportant a critical anticipation of the assumptions of legal positivism in Alice in Wonderland

Almost a full century separates Lewis’ Alice in Wonderland (1865) and the second, lengthier and more elaborate edition of Hans Kelsen’s Pure Theory of Law (1960; first edition published in 1934). And yet, it is possible to argue that the former anticipates and critically addresses many of the philosophical assumptions that underlie and are elemental to the argument of the latter. Both texts, with the illuminating differences that arise from their disparate genre, have as one of their key themes norms and their functioning. Wonderland, as Alice soon finds out, is a world beset by rules of all kinds: from the etiquette rituals of the mad tea-party to the changing setting for the cricket game to the procedural insanity of the trial with which the novel ends. Pure Theory of Law, as Kelsen emphatically stresses, has the grundnorm as the cornerstone upon which the whole theoretical edifice rests2. This paper discusses some of the assumptions underlying Kelsen’s argument as an instance of the modern worldview which Lewis satirically scrutinizes. The first section (Sleepy and stupid) discusses Lewis critique of the idea that, to correctly apprehend an object (in the case of Kelsen’s study, law), one has to free it from its alien elements. The second section (Do bats eat cats?) discusses the notion of systemic coherence and its impact on modern ways of thinking about truth, law and society. The third section (Off with their heads!) explores the connections between readings of systems as neutral entities and the perpetuation of political power. The fourth and final section (Important, Unimportant) explains the sense in which a “critical anticipation” is both possible and useful to discuss the philosophical assumptions structuring some positivist arguments. It also discusses the reasons for choosing to focus on Kelsen’s work, rather than on that of Lewis’ contemporary, John Austin, whose The Province of Jurisprudence Determined (published in 1832) remains influential in legal debates today.

Análise dos recursos do Programa ABC : foco na Amazônia Legal – potencial de redução de GEE e estudo de caso sobre o Programa ABC em Paragominas

Este é o relatório final acerca do desembolso do Programa ABC e que compõe, entre outras, as atividades do segundo ano de trabalho do Observatório do Plano ABC. Seu principal objetivo é analisar quantitativa e qualitativamente o desempenho – contratação – da principal linha de crédito para o financiamento da agricultura de baixa emissão de carbono no Brasil, o Programa ABC. O relatório apresenta as atualizações referentes à parcela da safra 2014/15 (de julho de 2014 a fevereiro de 2015), trazendo, também, uma análise focada nos recursos contratados via BNDES e nas finalidades de investimento às quais se destinam. Além disso, é apresentado um estudo de caso realizado no estado do Pará, e é discutido, também, o potencial de contribuição ao alcance das metas de redução de emissões pela região da Amazônia Legal.

Legal enforcement, collateral and heterogeneity of project financing contracts

This paper employs mechanism design to study the effects of imperfect legal enforcement on optimal scale of projects, borrowing interest rates and the probability of default. The analysis departs from an environment that combines asymmetric information about cash flows and limited commitment by borrowers. Incentive for repayment comes from the possibility of liquidation of projects by a court, but courts are costly and may fail to liquidate. The value of liquidated assets can be used as collateral: it is transferred to the lender when courts liquidate. Examples reveal that costly use of courts may be optimal, which contrasts with results from most limited commitment models, where punishments are just threats, never applied in optimal arrangements. I show that when voluntary liquidation is allowed, both asymmetric information and uncertainty about courts are necessary conditions for legal punishments ever to be applied. Numerical solutions for several parametric specifications are presented, allowing for heterogeneity on initial wealth and variability of project returns. In all such solutions, wealthier individuals borrow with lower interest rates and run higher scale enterprises, which is consistent with stylized facts. The reliability of courts has a consistently positive effect on the scale of projects. However its effect on interest rates is subtler and depends essentially on the degree of curvature of the production function. Numerical results also show that the possibility of collateral seizing allows comovements of the interest rates and the probability of repayment.

DEVIDO PROCESSO LEGAL E PROCESSO ADMINISTRATIVO SANCIONADOR NAS AGÊNCIAS REGULADORAS

This paper discusses the growing attention that, over the last decades, has been given to the administrative procedure in Administrative Law, as it also highlights the procedures which are in tune with the new trappings of this legal field. It focuses on the sanctioning competence of regulatory agencies, notably what concerns the procedural guide that conditions its exercise. It aims at gathering varied elements, many times dispersed over the legal system, so it is possible to list, with a satisfactory degree of detail, the procedural constitutional guidelines which are indispensable to the sanctioning of private entities through punitive action by regulatory agencies. It highlights the due legal process clause, for the abundance of the protective set there is around it, as a guiding constitutional principle for the application of sanctions by regulatory agencies. It examines the repercussion of the constitutional principle of the due legal process on Administrative Law, focusing on the most relevant principles on which the first unfolds itself. It analyzes, in light of the due legal process principle, the sanctioning administrative procedure developed in regulatory agencies. In conclusion, it is asserted that there is no room, in the Brazilian legal system as a whole, for sanctions to be applied summarily; that there reigns, in our system, an absolute presumption, dictated by the Constitution, that only through regular procedures can the best and fairest decision, concerning cases in which the rights of private parties could be affected, be taken by the public administration; that, respecting the principle of the right to a fair hearing, it is indispensable that there be motivation of a decision that imposes a sanction; that there should be, in homage to the principle of full defense and for the need to preserve the autonomy of the regulatory party, an appeal court in every agency; that the principles listed in the federal law No. 9.784/1999 should be mandatorily monitored by the agencies, for this is the only alternative consistent with the Constitution

Impacts of Climate Change and the End of Deforestation on Land Use in the Brazilian Legal Amazon

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Effects of self-, chase and mixed self/cross-pollinations on pistil longevity and fruit set in Ceiba species (Bombacaceae) with late-acting self-incompatibility

Background and aims Late-acting self-incompatibility (LSI). in which selfed flowers fail to form fruits despite apparently successful growth of the pollen tubes to the ovules, is a contentious and still poorly understood phenomenon. Some studies have indicated pollen tube-pistil interactions, and major gene control. Others favour an early acting inbreeding depression explanation.Methods Experimental pollinations, including selfs (in a subsample of which the style was cut before pollen tubes reached the ovary), chase self/cross-pollinations, crosses, and mixed self/cross-pollinations were used to study floral/pistil longevity and effect on fruit set and seed yield in two Ceiba species known to have LSI.Results Self-pollinations, including those with a cut style, had extended floral longevity compared with unpollinated flowers. Chase pollinations in which cross-pollen was applied up to 3 h after selfing set fruits, but with reduced seed set compared with crosses. Those with cross-pollen applied at 4 and 8 h after self-pollination all failed to set fruits. Flowers subjected to 1 : 1 and 2 : 1 self/cross-pollinations all produced fruits but again with a significantly lower seed set compared with crosses.Conclusions Extended floral longevity initiated with self-pollen tubes growing in the style indicates some kind of pollen tube-pistil interaction. Fruit set only in chase pollinations up to 3 h implies that self-pollen tubes either grow more slowly in the style or penetrate ovules more slowly on arrival at the ovary compared with cross-tubes. This agrees with previous observations indicating that the incidence of penetrated ovules is initially lower in selfed compared with crossed pistils. However, the low seed yield from mixed pollinations indicates that self- and cross-pollen tubes arrive at the ovary and penetrate ovules more or less simultaneously. Possible explanations for these discordant results are discussed. (C) 2004 Annals of Botany Company.

Floral biology and late-acting self-incompatibility in Jacaranda racemosa (Bignoniaceae)

Breeding-system studies have been conducted with 38 of the approximately 800 species of Bignoniaceae, and self-incompatibility was found in 31 of these. In species for which the site of self-incompatibility barrier was studied, self-pollinated flowers consistently failed to develop into fruits, even though pollen tubes grew down to the ovary and penetrated most of the ovules. In this study, we have investigated the. oral biology and the breeding system in Jacaranda racemosa Chamisso, with hand-pollination experiments and the histology of post-pollination events. Flower anthesis lasted 1-3 days, and although the frequency of flower visitation was extremely low, natural pollination seemed to be effected mainly by medium-sized bees. Because the conspicuous staminodium favours eventual pollination by small bees, a possible role of the staminodium in the increase of potential pollinators is suggested. Hand-pollinations indicated that J. racemosa is a self-sterile species. Histological analysis of post-pollination events indicated the occurrence of a kind of late-acting self-incompatibility in which the processes of ovule penetration, fertilisation and endosperm initiation were slower in selfed than in crossed pistils. Until the time of self-pollinated pistil abscission, no signs of endosperm malfunction or proembryo development were observed in selfed pistils. Therefore, inbreeding depression is an unlikely explanation for self-sterility in J. racemosa.

Homomorphic self-incompatibility, with stylar rejection site, in Luehea grandiflora Mart. and Zucc. (Tiliaceae-Malvaceae s.l.)

The breeding system of Luehea grandiflora (Tiliaceae-Malvaceae s.l.) was investigated using hand pollinations and fluorescence microscopy studies of pollen tube growth. Although selfed flowers persisted for some 10 days, our study indicates that L. grandiflora is self-incompatible, with self pollen tube inhibition in the upper style, as occurs in many taxa with homomorphic, gametophytic self-incompatibility (GSI). L. grandiflora is only the second species reported within the Malvales with homomorphic stylar inhibition. This result is discussed within the context of a report for self-compatibility in this species, and we also consider the phylogenetic implications for the occurrence of GSI in the family Malvaceae s.l.

Avaliação econômica de sistemas agroflorestais implantados para recuperação de reserva legal no Pontal do Paranapanema, São Paulo

O Pontal do Paranapanema, extremo oeste do Estado de São Paulo, é conhecido em todo o Brasil devido aos conflitos pela posse da terra, protagonizados pelo Movimento dos Trabalhadores Rurais Sem Terra (MST), que transformou significativamente a paisagem da região, onde atualmente se observam pequenas ilhas de assentamentos rurais imersos numa matriz de grandes pastagens. O Código Florestal prevê que esses assentamentos, assim como qualquer propriedade rural, deve manter 20% de sua área com cobertura vegetal arbórea. Essa área, conhecida como Reserva Florestal Legal, deve ser restaurada, caso não exista. Assim, esta pesquisa se desenvolveu no assentamento Santa Zélia, Município de Teodoro Sampaio, São Paulo, numa área de 15 ha de Reserva Legal. Seis famílias desse assentamento foram responsáveis pela restauração da área, através de módulos agroflorestais (Taungya) temporários. Dois indicadores foram utilizados para avaliação econômica da produção agrícola na área: Valor Presente Líquido (VLP) e Relação Benefício-Custo (RB/C). Os resultados indicaram valores positivos em todas as famílias analisadas, levando à conclusão de que sistemas agroflorestais podem ser adotados na recuperação de áreas de reserva legal em propriedades rurais. Sua maior ou menor viabilidade econômica irá depender de um manejo mais intenso na área para produção agrícola e de preços satisfatórios para venda no mercado.

Adjectival semantics and the legal domain: A study for ontology improvement

This paper carries out a descriptive study on Portuguese adjectives. Our aim is to describe the semantics of the legal domain adjectives in order to construct an ontology which may improve Information Retrieval Systems. For this, we present an approach based on valency and semantic relations. The ontology proposed here is a first step aiming to build a legal ontology based on top-level concepts. © AEPIA.