The Cuban economy

Includes bibliography

The effects of growth and economic reform on income distribution in Latin America

Includes bibliography

Exchange rate regimes and macroeconomic performance in Argentina, Brazil and Mexico

Includes bibliography

Periodicity in a delayed version of the kaldor trade cycle model

We are concerned with the Kaldor's trade cycle model under the effect of a delay which represents a gestation lag between a decision of investment and its effect on the capital stock. Taking the adjustment coefficient in the goods market as a bifurcation parameter, we achieve global branches of periodic solutions. In our setting the delay is a constant inherent to the specific economy. Copyright © 2013 Watam Press.

Desenvolvimento regional e capital social: uma abordagem para a microrregião de Presidente Prudente - SP

Pós-graduação em Geografia - FCT

Global economic developments, 2000-2001

Includes bibliography

Social security reforms and their implications for the Caribbean

Includes bibliography

Capital flows to Latin America: first quarter 2003

Includes bibliography

An assessment of the economic impact of climate change on the water sector in the Turks and Caicos Islands

The best description of water resources for Grand Turk was offered by Pérez Monteagudo (2000) who suggested that rain water was insufficient to ensure a regular water supply although water catchment was being practised and water catchment possibilities had been analysed. Limestone islands, mostly flat and low lying, have few possibilities for large scale surface storage, and groundwater lenses exist in very delicate equilibrium with saline seawater, and are highly likely to collapse due to sea level rise, improper extraction, drought, tidal waves or other extreme event. A study on the impact of climate change on water resources in the Turks and Caicos Islands is a challenging task, due to the fact that the territory of the Islands covers different environmental resources and conditions, and accurate data are lacking. The present report is based on collected data wherever possible, including grey data from several sources such as the Intergovernmental Panel on Climate Change (IPCC) and Cuban meteorological service data sets. Other data were also used, including the author’s own estimates and modelling results. Although challenging, this was perhaps the best approach towards analysing the situation. Furthermore, IPCC A2 and B2 scenarios were used in the present study in an effort to reduce uncertainty. The main conclusion from the scenario approach is that the trend observed in precipitation during the period 1961 - 1990 is decreasing. Similar behaviour was observed in the Caribbean region. This trend is associated with meteorological causes, particularly with the influence of the North Atlantic Anticyclone. The annual decrease in precipitation is estimated to be between 30-40% with uncertain impacts on marine resources. After an assessment of fresh water resources in Turks and Caicos Islands, the next step was to estimate residential water demand based on a high fertility rate scenario for the Islands (one selected from four scenarios and compared to countries having similar characteristics). The selected scenario presents higher projections on consumption growth, enabling better preparation for growing water demand. Water demand by tourists (stopover and excursionists, mainly cruise passengers) was also obtained, based on international daily consumption estimates. Tourism demand forecasts for Turks and Caicos Islands encompass the forty years between 2011 and 2050 and were obtained by means of an Artificial Neural Networks approach. for the A2 and B2 scenarios, resulting in the relation BAU>B2>A2 in terms of tourist arrivals and water demand levels from tourism. Adaptation options and policies were analysed. Resolving the issue of the best technology to be used for Turks and Caicos Islands is not directly related to climate change. Total estimated water storage capacity is about 1, 270, 800 m3/ year with 80% capacity load for three plants. However, almost 11 desalination plants have been detected on Turks and Caicos Islands. Without more data, it is not possible to estimate long term investment to match possible water demand and more complex adaptation options. One climate change adaptation option would be the construction of elevated (30 metres or higher) storm resistant water reservoirs. The unit cost of the storage capacity is the sum of capital costs and operational and maintenance costs. Electricity costs to pump water are optional as water should, and could, be stored for several months. The costs arising for water storage are in the range of US$ 0.22 cents/m3 without electricity costs. Pérez Monteagudo (2000) estimated water prices at around US$ 2.64/m3 in stand points, US$ 7.92 /m3 for government offices, and US$ 13.2 /m3for cistern truck vehicles. These data need to be updated. As Turks and Caicos Islands continues to depend on tourism and Reverse Osmosis (RO) for obtaining fresh water, an unavoidable condition to maintaining and increasing gross domestic product(GDP) and population welfare, dependence on fossil fuels and vulnerability to increasingly volatile prices will constitute an important restriction. In this sense, mitigation supposes a synergy with adaptation. Energy demand and emissions of carbon dioxide (CO2) were also estimated using an emissions factor of 2. 6 tCO2/ tonne of oil equivalent (toe). Assuming a population of 33,000 inhabitants, primary energy demand was estimated for Turks and Caicos Islands at 110,000 toe with electricity demand of around 110 GWh. The business as usual (BAU), as well as the mitigation scenarios were estimated. The BAU scenario suggests that energy use should be supported by imported fossil fuels with important improvements in energy efficiency. The mitigation scenario explores the use of photovoltaic and concentrating solar power, and wind energy. As this is a preliminary study, the local potential and locations need to be identified to provide more relevant estimates. Macroeconomic assumptions are the same for both scenarios. By 2050, Turks and Caicos Islands could demand 60 m toe less than for the BAU scenario.

Towards universal social protection: Latin American pathways and policy tools

This book reflects on the public policies, programmes and regulatory frameworks that are taking a rights-based approach to expanding social protection coverage and benefits in Latin America, with a view to achieving universal coverage. The book’s discussion of the policy tools and programmes pursued in the region aims to provide the reader with technical and programmatic insights for assembling and coordinating public policies within consistent and sustainable social protection systems. The combination of normative orientations and stock of technical knowledge, together with advances regarding the rights-based approach to social protection within a life cycle framework, afford the reader not only a tool box of specific social protection instruments, but also an in-depth examination of related political economy aspects.

Desenvolvimento local e capital social: uma análise interdisciplinar do processo de indução do DLIS no Estado de Roraima

Uma nova tendência em termos de ações para o desenvolvimento vem se configurando. Trata-se de ações que levam em conta o território e seus atores. Nesse âmbito, insere-se a metodologia de indução do Desenvolvimento Local Integrado e Sustentável (DLIS). Esse Programa de política pública se constitui uma estratégia participativa de indução do desenvolvimento, pela qual se mobilizam recursos das comunidades, que em parceria com o Estado (em seus três níveis) e o mercado, realizam diagnósticos, identificam potencialidades e vocações, elaboram planos integrados de desenvolvimento, na perspectiva de envolvimento dos sujeitos como proponentes e protagonistas da ação social em seus territórios. Com este trabalho, buscou-se compreender a multidimensionalidade do processo de DLIS, no estado de Roraima, procurando, ao mesmo tempo, o estabelecimento de um nexo causal entre as trajetórias sócio-econômicas (resultados) do DLIS e o capital social. A pesquisa se enquadrou na modalidade qualitativa. Adotou-se como estratégia metodológica o estudo de caso, envolvendo os municípios de Rorainópolis, Uiramutã, Baliza e Pacaraima. Três dimensões analítico-contextuais foram adotadas, quais sejam: conceitual, de implementação e de impacto. Na avaliação do capital social, as variáveis participação, confiança, cooperação e redes foram consideradas. Na interpretação dos dados, as seguintes abordagens foram utilizadas: análise contextual, análise descritiva, análise das diferenças de proporções e análise de correspondência. Os resultados da pesquisa revelaram que alguns conceitos e categorias adotados pelo Programa, embora relevantes, apresentam alguma ordem de problema. Dois municípios, Rorainópolis e Uiramutã, foram considerados municípios de bons resultados. Isso porque atenderam a um conjunto de questões que expressavam condições desejáveis para que o desenvolvimento local integrado e sustentável, em suas múltiplas dimensões, se efetivasse. Por seu turno, os municípios de Baliza e Pacaraima foram classificados como municípios de maus resultados. Os resultados do DLIS em Rorainópolis e Uiramutã estão associados ao capital social (relação positiva). A despeito da extensa literatura que trata da relevância desse tema, não se têm, ainda, instrumentos satisfatórios para medir capital social. Nesse contexto, entendese que estes resultados representam, de fato, uma aproximação.

Multilatinas na global economy. historical characterization, sectorial and space

The successive crises for which has passed in the world economy since the years 1970, together with the United States 'hegemonic crisis, have created the conditions for the reordering and the construction of a multipolar world, with the increasing importance of some peripheral countries into the world economy, particularly with regard to capital flows. This article represents an effort to bring to light the analysis on the decrease of importance of developed countries in world investment flows and corresponding increase in the relevance of some peripheral countries. The objective underlying the text is understanding the expansion of space circuits of production of multinational companies in Latin America (Multilatinas) at different spatial scales, by means of an analysis of the temporal, spatial and sectoral dimensions of the investments. The methodological procedures adopted covered survey, selection and bibliographic data compilation, reading in international organizations (UNCTAD and ECLAC), systematization of data, analysis of data in the light of the theoretical reflections.

Information Search Behavior: Proposal of Study with Investors in the Stock Market

With the aim of analyzing the information search behavior of investors working in the stock market, this research sought to raise the aspects related to this behavior with focus on the cognitive and causal aspects which pervade the need for information of these investors. For that, the general pattern of informational behavior proposed by Wilson [10], and also the analysis of a report from an investor of the stock market area were used as basis for the analysis and reflection. The report of only one investor was used as basis for investigation, turning it impossible to extrapolate such result to a greater universe. The objective of this research was to investigate the need for information, the context and the intervenient variables which might interfere or not in the information search behavior of investors, in an attempt to get a deeper comprehension about the subject, as well as to propose the continuity of studies with basis on this study proposal.

O impacto da adesão aos diferentes níveis de Governança Corporativa para o desempenho econômico e financeiro de um segmento de empresas

The importance of the capital market to Brazilian economic development, linked to the the fragility of a theoretical framework on the issue, case for developing this research. The agents operating in the capital market seek security and confidence for decision making on their investment in that sense we seek to address the concept and values of Corporate Governance to pay in the Brazilian capital market. The Corporate Governance, in its essence, is the system by which companies are directed and monitored, involving the relationship between shareholders and the board of companies, as well as a set of mechanisms and factors intended to minimize market failures. Seeking to confirm adherence to a more advanced system of corporate governance can result in a favorable financial performance, companies were investigated operating in the financial sector (intermediation, various services and insurance), listed by BM&FBOVESPA. The stock market ranks the corporate governance systems in three levels: Level 1 (rudimentary), Level 2 (intermediate) and New Market Level (advanced). To earn the impact of different levels of Corporate Governance for the outcome of the selected companies were calculated and analyzed accounting ratios of profitability, capital structure and liquidity from the Standardized Financial Statements (DFP), base year 2011, 2012 and 2013

Asset management of wastewater networks

Asset Management (AM) is a set of procedures operable at the strategic-tacticaloperational level, for the management of the physical asset’s performance, associated risks and costs within its whole life-cycle. AM combines the engineering, managerial and informatics points of view. In addition to internal drivers, AM is driven by the demands of customers (social pull) and regulators (environmental mandates and economic considerations). AM can follow either a top-down or a bottom-up approach. Considering rehabilitation planning at the bottom-up level, the main issue would be to rehabilitate the right pipe at the right time with the right technique. Finding the right pipe may be possible and practicable, but determining the timeliness of the rehabilitation and the choice of the techniques adopted to rehabilitate is a bit abstruse. It is a truism that rehabilitating an asset too early is unwise, just as doing it late may have entailed extra expenses en route, in addition to the cost of the exercise of rehabilitation per se. One is confronted with a typical ‘Hamlet-isque dilemma’ – ‘to repair or not to repair’; or put in another way, ‘to replace or not to replace’. The decision in this case is governed by three factors, not necessarily interrelated – quality of customer service, costs and budget in the life cycle of the asset in question. The goal of replacement planning is to find the juncture in the asset’s life cycle where the cost of replacement is balanced by the rising maintenance costs and the declining level of service. System maintenance aims at improving performance and maintaining the asset in good working condition for as long as possible. Effective planning is used to target maintenance activities to meet these goals and minimize costly exigencies. The main objective of this dissertation is to develop a process-model for asset replacement planning. The aim of the model is to determine the optimal pipe replacement year by comparing, temporally, the annual operating and maintenance costs of the existing asset and the annuity of the investment in a new equivalent pipe, at the best market price. It is proposed that risk cost provide an appropriate framework to decide the balance between investment for replacing or operational expenditures for maintaining an asset. The model describes a practical approach to estimate when an asset should be replaced. A comprehensive list of criteria to be considered is outlined, the main criteria being a visà- vis between maintenance and replacement expenditures. The costs to maintain the assets should be described by a cost function related to the asset type, the risks to the safety of people and property owing to declining condition of asset, and the predicted frequency of failures. The cost functions reflect the condition of the existing asset at the time the decision to maintain or replace is taken: age, level of deterioration, risk of failure. The process model is applied in the wastewater network of Oslo, the capital city of Norway, and uses available real-world information to forecast life-cycle costs of maintenance and rehabilitation strategies and support infrastructure management decisions. The case study provides an insight into the various definitions of ‘asset lifetime’ – service life, economic life and physical life. The results recommend that one common value for lifetime should not be applied to the all the pipelines in the stock for investment planning in the long-term period; rather it would be wiser to define different values for different cohorts of pipelines to reduce the uncertainties associated with generalisations for simplification. It is envisaged that more criteria the municipality is able to include, to estimate maintenance costs for the existing assets, the more precise will the estimation of the expected service life be. The ability to include social costs enables to compute the asset life, not only based on its physical characterisation, but also on the sensitivity of network areas to social impact of failures. The type of economic analysis is very sensitive to model parameters that are difficult to determine accurately. The main value of this approach is the effort to demonstrate that it is possible to include, in decision-making, factors as the cost of the risk associated with a decline in level of performance, the level of this deterioration and the asset’s depreciation rate, without looking at age as the sole criterion for making decisions regarding replacements.