Sistema financeiro e crescimento económico

Os resultados que a atual crise, iniciada em 2008, de cariz inicialmente financeira mas que teve, e tem, importantes repercursões na economia real a nivel mundial, tornaram protagonista a discussão sobre a possível relação entre o Sistema Financeiro e o Crescimento Económico. Os varios países afetados, em particular os países da União Europeia, têm reunido esforços para reformular as políticas económicas e financeiras como forma de recuperar as economias e evitar futuras crises. Os custos e efeitos da crise fizeram emergir vários estudos que põem em causa a correlação assumida como sempre positiva entre o desenvolvimento da vertente financeira e o crescimento da economia real que até aqui era tida como certa. O principal objetivo desta dissertação é analisar a forma como o rápido crescimento e uma sobredimensão do Setor Financeiro, motivado essencialmente pela desrugulação financeira e pelo boom financeiro registado a partir dos anos 90, podem influenciar o crescimento da economia real, fazendo emergir a tese da existência de um limiar a partir do qual o efeito das finanças no crescimento económico pode ser perverso. A literatura sobre a relação entre o Sistema Financeiro e o Crescimento Económico não é unívoca quanto ao sinal entre as duas vertentes, hevendo uma leitura recente em que a taxa de crescimento e a excessiva dimensão financeira, desviando demasiados recursos dos outros setores da economia, podem ser um entrave à sustentação do crescimento da economia real. Tentando confirmar ou infirmar a existência de um limiar de crescimento da economia real decorrente da vertente financeira (transmitido, sobretudo, pelo crédito ao setor privado e pelo emprego financeiro), foi feita uma análise econométrica, com dados em painel com base nos países da União Europeia no período de 1990 a 2010. Os resultados obtidos apontam para a confirmação da hipótese da existência de um limiar de crescimento, em particular a relação “parabólica” existente entre o Financiamento e o Crescimento. Adicionalmente, o estudo revela uma influência negativa dos gastos públicos sobre o crescimento.

A evolução do relato financeiro nas cooperativas ao longo do século XX até à atualidade

Dissertação de Mestrado apresentada ao Instituto de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Contabilidade e Finanças, sob orientação de: Professora Doutora Ana Maria Alves Bandeira Professora Doutora Deolinda Maria Moreira Aparício Meira

Spatio-Temporal data modeling in response to deforestation monitoring (a case study of small region in Riau Province, Indonesia)

Dissertation submitted in partial fulfillment of the requirements for the Degree of Master of Science in Geospatial Technologies.

Optical clearing mechanisms characterization in muscle

Optical immersion clearing is a technique that has been widely studied for more than two decades and that is used to originate a temporary transparency effect in biological tissues. If applied in cooperation with clinical methods it provides optimization of diagnosis and treatment procedures. This technique turns biological tissues more transparent through two main mechanisms — tissue dehydration and refractive index (RI) matching between tissue components. Such matching is obtained by partial replacement of interstitial water by a biocompatible agent that presents higher RI and it can be completely reversible by natural rehydration in vivo or by assisted rehydration in ex vivo tissues. Experimental data to characterize and discriminate between the two mechanisms and to find new ones are necessary. Using a simple method, based on collimated transmittance and thickness measurements made from muscle samples under treatment, we have estimated the diffusion properties of glucose, ethylene glycol (EG) and water that were used to perform such characterization and discrimination. Comparing these properties with data from literature that characterize their diffusion in water we have observed that muscle cell membrane permeability limits agent and water diffusion in the muscle. The same experimental data has allowed to calculate the optical clearing (OC) efficiency and make an interpretation of the internal changes that occurred in muscle during the treatments. The same methodology can now be used to perform similar studies with other agents and in other tissues in order to solve engineering problems at design of inexpensive and robust technologies for a considerable improvement of optical tomographic techniques with better contrast and in-depth imaging.

A relevância da participação dos stakeholders na gestão das organizações do terceiro setor

Dissertação de Mestrado em Gestão das Organizaçoes de Terceiro Setor

Dividend policy and market asymmetries

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

Measuring poverty in Portugal: an absolute approach

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

The determinants of SMEs capital structure: Overcoming supply constraints

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

The social stock exchange: A quantitative exploration

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

Unstabilised rammed earth: characterization of material collected from old constructions in South Portugal and comparison to normative requirements

International Journal of Architectural Heritage, 8: 185–212, 2014

Determinants of export diversification and sophistication in sub-saharan Africa

This paper studies the political and economic factors that determine successful export diversification (ED) and export sophistication (ES) strategies in the Sub-Saharan African (SSA) countries and also the way in which successful ED and sophistication strategies contribute to explain the improving in some of the millennium development goals (MDG). We run separate regressions for the determinants of ES and ED, using disaggregated data of the 48 SSA countries, from 1960 to 2005. The results suggest that better governance is an important determinant for the success of diversification and sophistication strategies in SSA. In particular the level of corruption, transparency and accountability are important factors in limiting or promoting the scope of diversification and the level of sophistication of the exports. The results also suggest that increases in human capital in SSA countries promote both ED and ES, showing that the level of education of the workforce is positively related with ES and ED, with higher levels of education (tertiary) playing a more important role in explaining ES, while lower levels of education (primary) being more important as determinants of ED. In the second part we explore the links between ED and ES and growth presenting evidence that ED and ES are linked to growth stability in SSA. This study also suggests that the Sub-Saharan countries that were more successful in achieving ED and ES tend to be more successful in improving the living conditions of their population. Using different variables of Infant Mortality (one of the MDG) and life expectancy as dependent variables, we present evidence that suggests that in SSA higher ED and ES are associated with lower infant mortality and higher life expectancy. We show that this result is robust, presenting positive and significant results even when a large number of different control variables are introduced, or when fixed effects and instrumental variables are considered. The evidence suggests that ED and ES are part of the solution for a successful development of SSA.

Comparative analysis of multicriteria decision making methods

Dissertação para obtenção do Grau de Mestre em Engenharia Electrotécnica e de Computadores

Reporting comprehensive income: Evidence from Portuguese listed companies

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

Electrodialytic remediation of two types of air pollution control residues and their applicability in construction materials

Dissertação para obtenção do Grau de Mestre em Engenharia do Ambiente Perfil de Engenharia de Sistemas Ambientais

Spectrum sensing through software defined radio

Dissertação apresentada para obtenção do Grau de Mestre em Engenharia Electrotécnica e de Computadores, pela Universidade Nova de Lisboa, Faculdade de Ciências e Tecnologia