As origens da teoria dos invariantes na Inglaterra e o Mécanique Analytique de Lagrange (1788)

Pós-graduação em Educação Matemática - IGCE

Capital flows to Latin America: first quarter 2006

Includes bibliography

Capital flows to Latin America: quarterly developments

Includes bibliography

Capital flows to Latin America: year end 2006

Includes bibliography

Capital flows to Latin America: quarterly developments

Includes bibliography

Capital flows to Latin America: recent developments

Includes bibliography

Capital flows to Latin America: recent developments

The external environment has deteriorated sharply as a result of the spiraling financial turmoil, and has led to a weakening in commodity prices and fears of a worldwide recession. Latin America and the Caribbean's fastest expansion in 40 years may be threatened as the global credit crunch makes financing scarce and squeezes demand for the region's commodities. This time around the region is better positioned to weather the crisis than in the past, given improvements in macroeconomic and financial policies as well as a reduced net dependency on external capital inflows. However, Latin American markets are feeling the effects of the crisis through a slowdown in capital inflows, large declines in stock price indexes, significant currency adjustments and an increase in debt spreads. Volatility has soared, with the closely watched Chicago Board Options Exchange Volatility Index moving to an all-time high of 70.33 on October 17, indicating that fear (rather than greed) has been ruling the markets.After reaching record lows in May 2007, emerging markets bond spreads are now above pre-Asian crisis levels. The JPMorgan EMBI+ Latin American composite widened by 146 basis points in the third quarter, with spreads reaching 448 basis points at the end of September. Spreads have widened sharply in recent weeks as foreign investors cut back regional exposure for the safety of U.S. Treasuries. The ongoing lack of liquidity and subsequent liquidation of assets is leading to a collapse in asset prices and a sharp widening in spreads. Daily spreads in October have risen to levels not seen since December 2002, making it much more difficult for governments that need financing to get it. Risk premiums for Latin corporates and sovereigns have risen substantially, but have remained well below U.S. junk (high-yield) bonds. Latin corporates are facing a steep rise in foreign exchange borrowing costs (although less than firms in other emerging markets), which raises concerns that refinancing risks will climb.So far, emerging markets vulnerabilities have been more focused on corporates, as sovereigns have improved public debt dynamics and countries' financing needs are under control. Market performance has been driven by the rapid deterioration of emerging markets bank and corporate market, as well as ongoing losses in emerging markets equities. From January to September 2008, the Morgan Stanley Capital International (MSCI) Latin American Index lost almost 28%, while the Emerging Markets Index lost 37% and the G-7 Index lost 24%. While in 2007 the Latin America component gained 47%, almost nine times as much as the MSCI-G7 index for developed markets, since mid-September 2008 stocks in Latin America have been doing worse than stocks in developed countries, as concerns about access to credit and the adverse impact of sharp falls in commodity prices and in local currencies contribute to increased risk aversion and to outflows of capital. Many governments in the region have used revenue from the commodity boom to pay down debt and build reserves. Now, facing a global financial crisis and the threat of recession in developed countries, the biggest question for Latin America is how long and deep this cyclical downturn will be, and how much it is going to reduce commodity prices. Prices for commodities such as soy, gold, copper and oil, which helped fund the region's boom, have fallen 28% since their July 2 high, according to the RJ/CRB Commodity Price Index. According to Morgan Stanley (in a September 29 report), should prices return to their 10-year average, Latin America's balanced budgets would quickly revert to a deficit of 4.1% of GDP. As risk aversion increases, investors are rapidly pulling out massive amounts of money, creating problems for local markets and banks. There is an ongoing shortage of dollars (as investors liquidate assets in Latin American markets), and as currencies depreciate, inflation concerns increase despite the global slowdown. In Brazil and Mexico, central banks deployed billions of dollars of reserves to stem steep currency declines, as companies in these countries, believing their local currencies would continue to strengthen against the U.S. dollar, took debts in dollars. Some companies also made bets using currency derivatives that have led to losses in the billions of dollars. Dramatic currency swings have caused heavy losses for many companies, from Mexico's cement giant Cemex SAB to the Brazilian conglomerate Grupo Votorantim. Mexico's third-largest retailer, Controladora Comercial Mexicana, declared bankruptcy recently after reporting huge losses related to exchange rate bets. As concerns about corporate exposure to dollar-denominated derivatives increases, yields on bonds issued by many of Brazil's and Mexico's leading companies have started to rise, sharply raising the cost of issuing new debt. Latin American external debt issuance came to a halt in the third quarter of 2008, totaling only US$ 690 million. The cost of obtaining loans for capital expenditures, M&A and debt refinancing is also rising substantially for Latin American corporates amid contagion from the U.S. financial crisis. According to bankers, a protracted trend of shortening tenors and widening spreads has intensified in the past few weeks, indicating that bank lending is quickly following the way of bonds and equity. Finally, money transfers from Latin American migrants are expected to decline for the first time this decade, as a result of economic downturns in the U.S. and Spain, inflation and a weaker dollar. The Mexican Central Bank announced that money transfers from Mexicans living in the U.S. dropped a record 12.2% in August. In 2008, migrants from the region will send some 1.7% less in remittances year-on-year when adjusted for inflation, according to the IADB, compounding the adverse effects of the deepening financial turmoil.

Revista de la CEPAL no.88

Vigencia de los aportes de Celso Furtado al estructuralismo / Ricardo Bielschowsky. -- Obsolescencia de la protección a los inversores extranjeros después de la crisis argentina / Michael Mortimore y Leonardo Stanley. -- Una aproximación al enfoque de derechos en las estrategias y políticas de desarrollo / Víctor Abramovich. -- ¿Pueden los países de América Latina y el Caribe emular el modelo irlandés para atraer inversión extranjera directa? / Ruth Ríos-Morales y David O ’Donovan. -- El lento retorno de las políticas industriales en América Latina y el Caribe / Wilson Peres. -- Un modelo de bajo crecimiento: la informalidad como restricción structural / Mario Cimoli, Annalisa Primi y Maurizio Pugno. -- El mercado de trabajo argentino en la globalización financier / Mario Damill y Roberto Frenkel. -- Precariedad social en México y Argentina: tendencias, expresiones y trayectorias nacionales / María Cristina Bayón. -- Pacto Fiscal en Guatemala: lecciones de una negociación / Juan Alberto Fuentes K. y Maynor Cabrera. -- Cambio de la estructura productiva en Chile, 1986-1996: producción e interdependencia industrial / José Miguel Albala-Bertrand. -- Orientaciones para los colaboradores de la Revista de la CEPAL. -- La Revista de la CEPAL en Internet. -- Publicaciones recientes de la CEPAL.

CEPAL Review no.88

Celso Furtado’s contributions to structuralism and their relevance today / Ricardo Bielschowsky. -- Has investor protection been rendered obsolete by the Argentine crisis? / Michael Mortimore and Leonardo Stanley. -- The rights-based approach in development policies and strategies / Victor Abramovich. -- Can the Latin American and Caribbean countries emulate the Irish model of FDI attraction? / Ruth Rios-Morales and David O’Donovan. -- The slow comeback of industrial policies in Latin America and the Caribbean / Wilson Peres. -- A low-growth model: informality as a structural constraint / Mario Cimoli, Annalisa Primi and Maurizio Pugno. -- The Argentine labour market in a financially globalized world / Mario Damill and Roberto Frenkel. -- Social precarity in Mexico and Argentina: trends, manifestations and national trajectories / María Cristina Bayón. -- The Fiscal Covenant in Guatemala: lessons learned from the negotiations / Juan Alberto Fuentes K. and Maynor Cabrera. -- Changes in Chile’s production structure, 1986-1996: output and industrial interdependence / José Miguel Albala-Bertrand. -- Guidelines for contributors to the CEPAL Review. -- CEPAL Review on the Internet. -- Recent ECLAC publications.

Atuação da Defensoria Pública da União na Amazônia Legal em conflitos de natureza coletiva: período de 2004 a 2010

As instituições do sistema de justiça ao redor do mundo têm ocupado importantes espaços no cenário político-institucional, atuando como verdadeiros atores políticos dotados de recursos de poder. Esse fenômeno de judicialização da vida pública tem ocorrido no Brasil, sobejamente após a promulgação da Constituição Federal de 1988. Os atores do sistema de justiça passaram a exercer importante influência sobre a vida social, econômica e política do país, atuando na afirmação de novos direitos e na construção da agenda pública. À luz deste contexto a presente dissertação analisa a judicialização da política na realidade político-institucional brasileira, delimitando, todavia, o seu campo de estudo à atuação das unidades da Defensoria Pública da União nos Estados que integram a Amazônia Legal em conflitos de natureza coletiva, buscando compreender fundamentalmente as formas judiciais e extrajudiciais de resolução de conflitos, os critérios de atuação da instituição neste tipo de controvérsias, bem como os resultados das ações e relações com o judiciário. A ideia central é a de que os mecanismos que proporcionam inclusão no sistema de justiça podem desempenhar um papel importante na afirmação de direitos e na construção da agenda pública.

Características produtivas, morfogênicas e estruturais do capim Piatã submetido à adubação orgânica

The organic fertilizer can be a viable alternative in the production of forage grasses, however there is little information regarding doses and composition of the major organic fertilizers. The aim of this paper was to verify the influence of the different doses of organic compost produced from two types of poultry litter on the structural, morphogenetic and productive characteristics of Brachiaria brizantha cv 'Piatã'. The experiment was conducted in a greenhouse in a completely randomized design in a factorial scheme l with parcel subdivided in time. The parcels were composed by six treatments: two types of compost (poultry litter based in sugar cane and napier grass) in three doses (100, 200 and 300kg ha-1 equivalent N.) and the subparcels by the four different periods of cut. The composts were applied in a unique dose, after the uniformization cut, at the quantities: 11,36 and 11,83, 22,73 and 23,67, 34,09 and 35,50 g pot-1 for the poultry litter based in sugar cane and napier grass, respectively which are equivalent to the rates of 0, 100, 200 and 300kg ha-1 of N. The variables measured were: dry matter production (DMP), leaf appearance rate (LApR), phyllochron, leaf elongation dose (LER) and shoots elongation rate (SER), number of green leaves (NGL), final size of the leaf (FSL). No significant difference between the types of composts and in the interaction compost x doses was observed, thus, both could be used without the risk of loss in the use of the nutrients by the plants evaluated in the experiment. There was a significant difference between the DMP, LApR, phyllochron, LER, SER, NGL and FSL because of the increasing rates of nitrogen, followed by a linear model of prediction. The effect of the periods of slaughter was also observed, where the slaughters carried out in the summer presented a better performance over the morphogenetic and structural features evaluated.

Confidence and the Stock Market: An Agent-Based Approach

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

A discursivização em Wall.E: sociedade, tecnologia e poder

This article consists in a discourse analysis of the feature film in animation Wall.e produced by Pixar in association to Disney in 2008. Pixar has been known to produce films that contain various discursive levels, making its products appealing not only for children, but also for adults. However, Wall-e proves to be a masterpiece in Pixar carrier, because it is the one which focuses on the analysis and critique of contemporary society associated with technological development. For this, the plot has as its starting point the question of sustainability and unbridled consumerism. But the film expands the debate, tracing the relationship between technology and humanity, discussing how one affects the other. The project therefore aims to show how the animation works such concepts and constructs his discourse. To this end, the work seeks to identify the signs that make up the discourse and draw the intertextuality between WALL.E and other works that also discuss the same elements such as Stanley Kubrick‟s 2001 - A Space Odyssey (1968)

As fontes do método analítico de leitura de João Köpke (1896-1917)

After two decades advertising and defending the synthetic method, João Köpke became active disseminator of analytical method for teaching reading. In five te xts published between 1896 and 1917, produced in different circumstance s for different publics readers, Köpke seeks the support of American and European authors, for their principles as well as for the education experience, to his analytical method. as by theirs principles as by theirs educational experiences. Among those authors: J. Jacotot, A. Bain, A. Meiklejohn, J. Froebel, C. Parker, G. Stanley Hall and J. Chubb. In this article, attention is given to repeated American references with special emphasis on the psychology of Stanley Hall and the method of teaching reading of Meiklejohn, highlighted and placed on convergence by Köpke in his final writings.

Long-term surface hardness and monomer conversion of a nonofilled and a microhybrid composite resin

Objective: This study aims to evaluate the degree of conversion (DC) and hydrolytic degradation through the Vickers hardness test (HV) of a nanofilled (Filtek™ Z-250, 3M) and a microhybrid (Filtek™Supreme-XT, 3M) composite resin. Materials and methods: Eight disk-shaped specimens (4 mm diameter × 2 mm thick, ISO 4049) of each material were prepared for each test. Composites were inserted into single increment in a metallic matrix and light-cured for 40 seconds. VH readings were performed for each specimen at predetermined intervals: immediately after polymerization (control), 1, 2, 3, 7, 14, 21, 30 and 180 days. After curing, initial hardness measurements were performed and the specimens were immersed in artificial saliva at 37°C. For DC (%), specimens were ground, pressed with KBr and analyzed by FT-IR spectrophotometer. Results: Student t-test showed that there was no difference between the resins for DC (p = 0.252). ANOVA analysis revealed that Z-250 VH means were all greater than S-XT, for both top and bottom surfaces, whatever the storage-period in artificial saliva (p < 0.001). After 180 days of storage, the hardness obtained for S-XT was similar with that at the baseline, for both top and bottom surfaces. While for Z-250 hardness was not significantly different from baseline only for top surface, but there was a significant decrease observed in hardness for bottom surface. Conclusion: The materials tested showed no evidence of hydrolytic degradation in a significant way, in a 6-month storagetime in artificial saliva. Nanofilled resin presents a monomer conversion comparable to the conventional microhybrid.