How the full opening of the capital account to highly liquid financial markets led Latin America to two and a half cycles of ‘mania, panic and crash’

Latin America has recently experienced three cycles of capital inflows, the first two ending in major financial crises. The first took place between 1973 and the 1982 ‘debt-crisis’. The second took place between the 1989 ‘Brady bonds’ agreement (and the beginning of the economic reforms and financial liberalisation that followed) and the Argentinian 2001/2002 crisis, and ended up with four major crises (as well as the 1997 one in East Asia) — Mexico (1994), Brazil (1999), and two in Argentina (1995 and 2001/2). Finally, the third inflow-cycle began in 2003 as soon as international financial markets felt reassured by the surprisingly neo-liberal orientation of President Lula’s government; this cycle intensified in 2004 with the beginning of a (purely speculative) commodity price-boom, and actually strengthened after a brief interlude following the 2008 global financial crash — and at the time of writing (mid-2011) this cycle is still unfolding, although already showing considerable signs of distress. The main aim of this paper is to analyse the financial crises resulting from this second cycle (both in LA and in East Asia) from the perspective of Keynesian/ Minskyian/ Kindlebergian financial economics. I will attempt to show that no matter how diversely these newly financially liberalised Developing Countries tried to deal with the absorption problem created by the subsequent surges of inflow (and they did follow different routes), they invariably ended up in a major crisis. As a result (and despite the insistence of mainstream analysis), these financial crises took place mostly due to factors that were intrinsic (or inherent) to the workings of over-liquid and under-regulated financial markets — and as such, they were both fully deserved and fairly predictable. Furthermore, these crises point not just to major market failures, but to a systemic market failure: evidence suggests that these crises were the spontaneous outcome of actions by utility-maximising agents, freely operating in friendly (light-touched) regulated, over-liquid financial markets. That is, these crises are clear examples that financial markets can be driven by buyers who take little notice of underlying values — investors have incentives to interpret information in a biased fashion in a systematic way. ‘Fat tails’ also occurred because under these circumstances there is a high likelihood of self-made disastrous events. In other words, markets are not always right — indeed, in the case of financial markets they can be seriously wrong as a whole. Also, as the recent collapse of ‘MF Global’ indicates, the capacity of ‘utility-maximising’ agents operating in unregulated and over-liquid financial market to learn from previous mistakes seems rather limited.

The Predation of Artemia Nauplii by the Larvae of the Amazon River Prawn, Macrobrachium amazonicum (Heller, 1862), is Affected by Prey Density, Time of Day, and Ontogenetic Development

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Corporeidade e humanescência na fonte dos saberes da vida: a formação de professores que valoriza o ser

The present study comes from inquietudes of an investigative posture assumed by a Physical Education Graduation Professor, before her educative action with undergraduate teachers. The research was done with 16 (sixteen) Kindergarten and Elementary School teachers, who teach at public schools. The referred teachers are undergraduate students of the Graduating Normal Course at Superior Educational Institute President Kennedy, in Natal/RN. The analysis and discussion of the intertwining of knowledge, within the four Pillars of Education, at the Fountain of Knowledge , is a metaphor, especially created for this study, as for its epistemological and methodological structure, guiding all the investigative process. It provided to show up the repercussion of bathing and drinking these humanizing waters of a pedagogical practice that values the Being, aiming his self-transcendence. The conclusions obtained were the following: 1) The professor, while bathing himself in the Fountain of Life Knowledge, reflects his personal and professional life, recalling feelings and emotions that through time were forgotten, but as they were remembered and lived again, impulse people towards humanity. 2) While bathing himself at the Fountain of Life Knowledge, the professor realizes he is awoken to humane knowledge, caring about his practices, which he develops in the classroom. Practices he considers the learning of knowing, of doing, of living together, and of learning how to be, having and integrated form on the Being. 3) When the worries about the developing of the Being exist coming from the undergraduate teacher there is a practice the shows up the web of corporeity knowledge knowing how to play, how to create, how to feel, how to think, and how to humanize. 4) The presence of the professional of Physical Education, with knowledge and experience of the budgets of corporeity, is essential in the process of graduating the Kindergarten and first years of Elementary School undergraduate teacher, for he, the former, has a huge responsibility as to the learning and developing of the educational process the humanizing developing of the Being In a proposal of education that occurs through the whole life. 5) The Professional of Physical Education has positions to conquer, for the existent gap in the educational process, as for the understanding of the body and of corporeity in the perspective of totality, urges to be modified in name of another mankind, with full humanity

O PROEJA ensino médio no ifrn, campus Caicó: causas da desistência e motivos da permanência

This dissertation deals about the theme of National Integration Program of the Professional Education to the Basic Education in the form of Youth and Adults Education - PROEJA, which was developed at the Federal Institute of Education Science and Technology of Rio Grande do Norte - IFRN - Campus Caicó. It aims to analyze the causes of the abandonment and the reasons for the permanence of students within the mentioned program. To substantiate this research, we used methodologically, some procedures such as bibliographical research, documentary analysis, semi-structured interviews and focus group. To analyze the data, we discussed the contradiction that involves duality and educational compensation based in the struggles and achievements of rights at the core of public policies for high schools, for vocational education and the education of youth and adults in the 2000s. We analyze the integrated high school under PROEJA, having as reference the conception of the total human formation; the inseparability of the primary education system and vocational education and the integration of knowledge and expertise as a whole, discussing the specificities of the modality EJA, discussing the causes of abandonment and the reasons for the permanence of the students of education for youth and adults (EJA) in the primary education system. As for the results, we found that although the PROEJA be a program that aims to provide a complete human formation to contribute to the full citizenship of their graduate members, what is announced in the document that guides its creation has not been materialized in Caicó Campus. The curriculum of the course was not designed for the students of EJA, nor teachers have had an adequate training to work with these specific individuals, and its specificities of being workers with differentiated learning times have not been considered. In addition, the courses are predominantly of instrumentalist characteristics. This indicates that the material and institutional conditions to achieve the promised total and complete training have not being fully materialized at the researched school. Associated with the difficulties concerning the intra-school and extra-school conditions, personal and socioeconomic conditions which are related to the obligation to work that implies in limitations to balance work, school and family, they influenced in the interruption of the school trajectory of these subjects. Through research, we confirmed that the motives of students who remain have to do also with intraescolares conditions the quality of education (qualification of technical staff and teachers) involved in the educational process, as well as socioeconomic and personal issues represented by the support of colleagues and family.Then it is concluded that the causes of abandonment and the reasons of the permanence are of institutional, socioeconomic and personal origins. Finally, it is observed that capitalist society demands as much as possible high levels of educated workers, and at the same time makes difficult the access to that education for much of the population, and it is not randomly. The objects of that exclusion are the popular worker classes and their children

Arithmetic fuchsian groups and space time block codes

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

Time series analysis for minority game simulations of financial markets

The minority game (MG) model introduced recently provides promising insights into the understanding of the evolution of prices, indices and rates in the financial markets. In this paper we perform a time series analysis of the model employing tools from statistics, dynamical systems theory and stochastic processes. Using benchmark systems and a financial index for comparison, several conclusions are obtained about the generating mechanism for this kind of evolution. The motion is deterministic, driven by occasional random external perturbation. When the interval between two successive perturbations is sufficiently large, one can find low dimensional chaos in this regime. However, the full motion of the MG model is found to be similar to that of the first differences of the SP500 index: stochastic, nonlinear and (unit root) stationary. (C) 2002 Elsevier B.V. B.V. All rights reserved.

Effects of time-periodic linear coupling on two-component Bose-Einstein condensates in two dimensions

We examine two-component Gross-Pitaevskii equations with nonlinear and linear couplings, assuming self-attraction in one species and self-repulsion in the other, while the nonlinear inter-species coupling is also repulsive. For initial states with the condensate placed in the self-attractive component, a sufficiently strong linear coupling switches the collapse into decay (in the free space). Setting the linear-coupling coefficient to be time-periodic (alternating between positive and negative values, with zero mean value) can make localized states quasi-stable for the parameter ranges considered herein, but they slowly decay. The 2D states can then be completely stabilized by a weak trapping potential. In the case of the high-frequency modulation of the coupling constant, averaged equations are derived, which demonstrate good agreement with numerical solutions of the full equations. (C) 2007 Elsevier B.V. All rights reserved.

Characterization of gallotannins from Astronium species by flow injection analysis-electrospray ionization-ion trap-tandem mass spectrometry and matrix-assisted laser desorption/ionization time-of-flight mass spectrometry

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

Survey on tuberculosis teaching in Brazilian nursing schools, 2004

OBJECTIVE: To characterise tuberculosis (TB) teaching in Brazilian nursing schools by state and region and its theoretical and practical contents. METHODOLOGY: In an educational research survey in 2004, 347 nursing schools were identified. Questionnaires were posted to faculties providing training in TB. Data were compiled in a database with a view to descriptive result analysis. Replies to the questionnaire were received by 32% of the nursing schools contacted. RESULTS: Undergraduate TB teaching is heterogeneous. For training in theory, the principle teaching method is through classes in 102 (91.9%) nursing schools. Practical TB teaching is carried out at the primary care level (89.2%). Teachers update their knowledge through events and internet; little reference is made to manuals. The time devoted to practical TB teaching ranges from 10 to 20 hours, although this is not always included in student training. CONCLUSION: Teaching in TB should go beyond the traditional model that focuses only on biological aspects. It should introduce tools that lead to permanent behavioural change, such as a more human approach and social and psychological aspects, such as living conditions, habits and customs. It should involve new partners, such as families, communities and other health professionals, and identify obstacles within the university. © 2006 The Union.

Heating time required for an MgO-graphite refractory during a hot modulus of rupture test

In the work described in the present paper, an analytical solution of the general heat conduction equation was employed to assay the temperature profile inside a solid slab which is initially at room temperature and is suddenly plunged into a fluid maintained at a high temperature. The results were then extrapolated to a simulation of a hot modulus of rupture test of typical MgO-graphite refractory samples containing different amounts of graphite in order to evaluate how fast the temperature equilibrates inside the test specimens. Calculations indicated that, depending on the graphite content, the time to full temperature homogenization was in the range of 80 to 200 s. These findings are relevant to the high temperature testing of such refractories in oxidizing conditions in view of the graphite oxidation risks in the proper evaluation of the hot mechanical properties.

Indoor air quality assessment of elementary schools in Curitiba, Brazil

The promotion of good indoor air quality in schools is of particular public concern for two main reasons: (1) school-age children spend at least 30% of their time inside classrooms and (2) indoor air quality in urban areas is substantially influenced by the outdoor pollutants, exposing tenants to potentially toxic substances. Two schools in Curitiba, Brazil, were selected to characterize the gaseous compounds indoor and outdoor of the classrooms. The concentrations of benzene, toluene, ethylbenzene, and the isomers xylenes (BTEX); NO2; SO2; O3; acetic acid (HAc); and formic acid (HFor) were assessed using passive diffusion tubes. BTEX were analyzed by gas chromatography-ion trap mass spectrometry and other collected gasses by ion chromatography. The concentration of NO2 varied between 9.5 and 23 μg m-3, whereas SO2 showed an interval from 0.1 to 4.8 μg m-3. Within the schools, BTEX concentrations were predominant. Formic and acetic acids inside the classrooms revealed intermediate concentrations of 1.5 μg m-3 and 1.2 μg m-3, respectively. © Springer Science + Business Media B.V. 2009.

The aster mission: Exploring for the first time a triple system asteroid

2001 SN263 is a triple system asteroid. Although it was discovery in 2001, in 2008 astronomical observation carried out by Arecibo observatory revealed that it is actually a system with three bodies orbiting each other. The main central body is an irregular object with a diameter about 2.8 km, while the other two are small objects with less than 1 km across. This system presents an orbital eccentricity of 0.47, with perihelion of 1.04 and aphelion of 1.99, which means that it can be considered as a Near Earth Object. This interesting system was chosen as the target for the Aster mission - first Brazilian space exploration undertaking. A small spacecraft with 150 kg of total mass, 30 kg of payload with 110 W available for the instruments, is scheduled to be launched in 2015, and in 2018 it will approach and will be put in orbit of the triple system. This spacecraft will use electric propulsion and in its payload it will carry image camera, laser rangefinder, infrared spectrometer, mass spectrometer, and experiments to be performed in its way to the asteroid. This mission represents a great challenge for the Brazilian space program. It is being structured to allow the full engagement of the Brazilian universities and technological companies in all the necessary developments to be carried out. In this paper, we present some aspects of this mission, including the transfer trajectories to be used, and details of buss and payload subsystems that are being developed and will be used. Copyright ©2010 by the International Astronautical Federation. All rights reserved.

Capoeira Angola: saberes, valores e atitudes na formação do mestre

Pós-graduação em Ciências da Motricidade - IBRC

Situation of unpaid work and gender in the Caribbean: The measurement of unpaid work through time-use studies

Includes bibliography.

Inequality in education in Costa Rica: The gap between students in public and private schools. An analysis of the results of the Programme for International Student Assessment (PISA)

Includes bibliography.