April 2005: Notable State Documents

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April 2008: Notable State Documents

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April 2009: 19th Annual Notable State Documents

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April 2010: South Carolina 2009 Notable State Documents

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Sustained growth, government expenditure and inflation

We construct and simulate a theoretical model in order to explain particular historical experiences in which inflation acceleration apparently helped to spur a period of economic growth. Government financed expenditures affect positively the produtivity growth in this model so that the distortionary effect of inflation tax is compensated by the productive effect of public expenditures. We show that for some interval of money creation rates there is an equilibrium where money is valued and where steady state physica1 capital grows with inflation. It is a1so shown that zero inflation and growth maximization are never the optimal policies.

State ownership and corporate governance

State ownership of publicly-traded corporations remains pervasive around the world, and has been increasing in recent years. Existing literature focuses on the implications of government ownership for corporate governance and performance at the firm level. This Article, by contrast, explores the different but equally important question of whether the presence of the state as a shareholder can impose negative externalities on the corporate law regime available to the private sector. Drawing from historical experiments with government ownership in the United States, Brazil, China, and Europe, this study shows that the conflict of interest stemming from the state’s dual role as a shareholder and regulator can influence the content of corporate laws to the detriment of outside investor protection and efficiency. It thus addresses a gap in the literature on the political economy of corporate governance by incorporating the political role of the state as shareholder as another mechanism to explain the relationship between corporate ownership structures and legal investor protection. Finally, this Article explores the promise of different institutional arrangements to constrain the impact of the state’s interests as a shareholder on the corporate governance environment, and concludes by offering several policy recommendations.

Campaign donation and government contracts in Brazilian states

A corporate firm may influence policies in its favor by transferring money to political candidates. However, empirical studies which document evidence about the return on campaign donations are rare (Großer, Reuben and Tymula, 2013). In this paper we estimate the net expected return of a campaign donation in eight Brazilian states using a Regression Discontinuity Design (RDD) to separate the return of winning and losing state deputy candidates in the electoral coalition in 2006. Our results show that that the net return is quite high (i.e., the investment of donor firms is almost 2% of the net expected return), and is larger among traditional electoral parties than any other parties, on average. Looking at the heterogeneity of local executive and legislative levels, we find that net returns are higher when donor firms finance deputies within a governor’s electoral coalition than deputies outside this coalition.

The effects of state ownership in the internationalization of emerging multinationals

Esta tese é um compendio de três trabalhos de pesquisa que visam analisar o efeito da participação do estado na estrutura de propriedade das Multinacionais de Países Emergentes (EMNEs). A participação do estado como acionista é um fenómeno que pode trazer novas contribuições no âmbito da governança corporativa, administração da empresa e a tomada de decisões estratégicas. Os estudos aqui inclusos permitem identificar, a partir de momentos, diferentes, até que ponto o estado, na posição de proprietário da EMNE, pode impactar a mesma. Os trabalhos vão desde os mecanismos de escolha de firmas nas quais investir ate o impacto no ritmo de internacionalização das empresas, explicando também os mecanismos que o estado usa para ganhar aceso à tomada de decisões por meio de mudanças na governança corporativa

Governança de TI: o caso do m-government do estado de São Paulo

Este trabalho tem como objetivo explorar como a governança de TI tem implicações no atendimento ao cidadão por meio de serviços de governo disponibilizados em dispositivos móveis, conhecido como m-government. Foi estudada a forma como os órgãos envolvidos no desenvolvimento de aplicativos para o cidadão se organizam, tanto em termos da legislação que define suas competências quanto em termos da dinâmica deste desenvolvimento, por meio de entrevistas com atores de papel relevante neste cenário. Também foi realizada a análise da governança de m-government no Estado usando uma matriz de arranjos de governança. A conclusão foi que a governança que a legislação indica que se pretende para o Estado, como políticas emanadas de um órgão central, ainda está em estágio embrionário e que por enquanto as Secretarias e órgãos praticam m-government para atender objetivos que são específicos de suas pastas, indicando que há um longo caminho para se alcançar o objetivo de um governo único para um cidadão único

Europe’s financial crisis: the Euro’s flawed design and the consequences of lack of a government banker

This paper argues the euro zone requires a government banker that manages the bond market and helps finance country budget deficits. The euro solved Europe’s problem of exchange rate speculation by creating a unified currency managed by a single central bank, but in doing so it replaced the exchange rate speculation problem with bond market speculation. Remedying this requires a central bank that acts as government banker and maintains bond interest rates at sustainable levels. Because the euro is a monetary union, this must be done in a way that both avoids favoring individual countries and avoids creating incentives for irresponsible country fiscal policy that leads to “bail-outs”. The paper argues this can be accomplished via a European Public Finance Authority (EPFA) that issues public debt which the European Central Bank (ECB) is allowed to trade. The debate over the euro’s financial architecture has significant political implications. The current neoliberal inspired architecture, which imposes a complete separation between the central bank and public finances, puts governments under continuous financial pressures. That will make it difficult to maintain the European social democratic welfare state. This gives a political reason for reforming the euro and creating an EPFA that supplements the economic case for reform.

Production of xylanase and CMCase on solid state fermentation in different residues by Thermoascus aurantiacus miehe

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

Surveillance Programme for Healthcare Associated Infections in the State of São Paulo, Brazil. Implementation and the first three years' results

Governmental programmes should be developed to collect and analyse data on healthcare associated infections (HAIs). This study describes the healthcare setting and both the implementation and preliminary results of the Programme for Surveillance of Healthcare Associated Infections in the State of São Paulo (PSHAISP), Brazil, from 2004 to 2006. Characterisation of the healthcare settings was carried out using a national database. The PSHAISP was implemented using components for acute care hospitals (ACH) or long term care facilities (LTCF). The components for surveillance in ACHs were surgical unit, intensive care unit and high risk nursery. The infections included in the surveillance were surgical site infection in clean surgery, pneumonia, urinary tract infection and device-associated bloodstream infections. Regarding the LTCF component, pneumonia, scabies and gastroenteritis in all inpatients were reported. In the first year of the programme there were 457 participating healthcare settings, representing 51.1% of the hospitals registered in the national database. Data obtained in this study are the initial results and have already been used for education in both surveillance and the prevention of HAI. The results of the PSHAISP show that it is feasible to collect data from a large number of hospitals. This will assist the State of São Paulo in assessing the impact of interventions and in resource allocation. (C) 2010 The Hospital Infection Society. Published by Elsevier Ltd. All rights reserved.

Air quality and emissions management in the State of São Paulo, Brazil

The São Paulo State has 36 million people, 25 million living in three metropolitan areas. Only the São Paulo Metropolitan Region (SPMR) includes the state capital (São Paulo City) plus 38 cities, where ≈ 18 million people live, affected by frequent episodes of ozone, NOx, and fine particulate matter. In 2003, it was estimated that 15.1% of the SPMR vehicles used ethanol and 70.2% used the local gasoline. Natural gas vehicles have witnessed a booming participation in the last years, mainly through conversion of gasoline cars, and the present fleet is almost one million vehicles. To face the problems generated by light vehicles emissions the Federal Government set a program called PROCONVE - Program of Air Pollution Control from Vehicles - in 1986 and since then until now a significant reduction was reached, but the growth of the fleet hides most of the emission cuts. A discussion covers the evolution of the air pollution management in São Paulo; and innovative tools for air pollution management - both for mobile and stationary sources. This is an abstract of a paper presented at the 98th AWMA Annual Conference and Exhibition (Minneapolis, MN 6/21-24/2005).

Macroeconomic volatility and social vulnerability in Brazil: the Cardoso government (1995-2002) and perspectives

Includes bibliography

The relations between different levels of government in Brazil

Includes bibliography