Capital flows to Latin America: third quarter 2001

Events in Argentina dominated most of the third quarter of 2001 until September 11, when the terrorist attacks against the United States prompted a sell-off of emerging markets assets, increasing uncertainty and risk aversion against a background of global economic slowdown. Emerging markets' short term prospects to tap international capital markets deteriorated significantly. In the third quarter of 2001, Latin American countries issued US$7.6 billion in bonds, following US$11.2 billion in the second quarter and US$13.2 billion in the first quarter, which had been a jump from only US$2.9 billion in the last quarter of 2000. At first, it seemed that the pace of debt issuance would slow down considerably given Argentina's troubles in July, as Argentina's bond auction at the beginning of the month was poorly received, forcing the government to shorten the maturity of the new debt and to pay rates as high as those during the Russian crisis in 1998. By August, however, emerging markets rebounded strongly on the back of a new US$8 billion IMF assistance package to Argentina, with both Mexico and Brazil successfully launching large issues. International markets displayed considerable flexibility as investors gave Mexico's US$1.5 billion 30- year bond and Brazil's JPY200 billion two-year samurai issue a warm reception. This return to capital markets was interrupted by the events of September 11, which caused debt issuance to fall sharply in September and October. Following the events of September 11, EMBI+ spreads widened above 1,000 basis points for the first time in nearly two years. According to J.P. Morgan there was a 3.7% market decline in September, which brought year-to-date returns for the EMBI+ to only 0.06%. Emerging markets debt, however, fared better than most other fixed income and equity markets in the immediate aftermath of the attacks. U.S. high-yield market suffered its worst month since August 1998, declining by 6.5%, while the S&P 500 and Nasdaq declined by 8.2% and 17%, respectively. Emerging equity markets suffered even greater declines, with losses as severe as 24% in local currency terms and 31% in U.S. dollar terms.

A leitura através do currículo: uma análise do PCN de Língua Portuguesa - a compreensão em foco

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Operários da undécima hora : os Agostinianos Recoletos no Brasil: criação da província de Santa Rita de Cássia e o impacto do Concílio Vaticano II

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Uso de reguladores de crescimento como alternativa tecnológica na cultura da macieira ‘Eva’ (Malus domestica Borkh.)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Avaliação temporal do processo de introdução da espécie Cichla monoculus (Kullander & Ferreira, 2006) no reservatório de UHE Escola Mackenzie (Capivara) Rio Paranapanema

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Regeneração natural de um fragmento de cerrado degradado com a formação de pastagens de braquiária (Urochloa decumbens (Stapf) R. D. Webster)

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Impacto do aumento da concentração de CO2 do ar sobre a brusone do arroz

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

Ruídos articulares em pacientes parcialmente desdentados (classe I ou II de Kennedy), antes e após a reposição dental com prótese parcial removível: avaliação através da eletrovibratografia

Pós-graduação em Odontologia - FOA

The equity gap: Latin America, the Caribbean and the Social Summit

The World Summit for Social Development, held in Copenhagen, Denmark, from 6 to 12 March 1995, brought together a large number of heads of State and Government and official representatives from States Members of the United Nations and culminated in the adoption of the Copenhagen Declaration on Social Development and the Programme of Action of the World Summit for Social Development. These two documents —the first containing policy statements, the other dealing with their practical application— imply commitments at the national, regional and international levels. Barely two years have passed since this summit was held, too short a period to permit an evaluation of the impact of the actions that the Latin American and Caribbean Governments set out to undertake. On the other hand, most of the countries were already implementing a variety of official policies related to the great objectives of the World Summit for Social Development. Al reunirse ahora los países miembros de la CEPAL para examinar, por vez primera, los avances hacia la aplicación de los resultados de la Cumbre,1 la Secretaría ha centrado su estudio en tres aspectos. Primero, en examinar, desde la óptica latinoamericana y del Caribe, la situación actual en materia de pobreza, empleo e integración social, los principales temas de la Cumbre. Segundo, en el ámbito de las políticas, en reseñar las tendencias que resultan más relevantes para el cumplimiento de los compromisos antes mencionados. Tercero, en proponer algunas orientaciones adicionales sobre el contenido y alcance de las políticas tendientes a facilitar el pleno cumplimiento futuro de dichos compromisos. Se procura con ello orientar el debate de los gobiernos y de la sociedad civil en América Latina y el Caribe acerca de cómo se están instrumentando en la región los compromisos de la Cumbre de Copenhague.

The tourism sector and the global economic crisis: development implicatins for the Caribbean

Over the past two years the global economy has experienced substantial economic turmoil, resulting in severe economic contraction. While there has been a recent return to growth, this situation has impacted all economic sectors worldwide. In the highly tourism-dependent region of the Caribbean, the impact of the global economic crisis has been most notable on the tourism sector, which, from the early 1990s, became the key driver of economic growth for the region. The eventual emergence of this sector reflects an economic development history which was previously underpinned by the export of agricultural commodities, and subsequently by the adoption of the import substitution industrialization model as promulgated by Arthur Lewis. This was further stimulated by spectacular economic contraction in Caribbean economies during the 1980s as a result of changes in the global terms of trade for commodities, generally low levels of competitiveness for manufactured goods, as well as weak institutional and governance frameworks. Ultimately, many economies began to reflect fiscal and balance of payments constraints. By the end of the 1990s, too, evidence of declining competitiveness even in the tourism sector began to become apparent particularly when evaluated under the framework of the Butler Tourism Area Life- Cycle (TALC) model. The recent economic crisis, therefore, provides an opportunity to reflect on the overall approach to economic development in the Caribbean, and to assess the implications of the region’s response to the crisis. This analysis makes the case for the future development of the sector to be based on two broad strategies. The first is to deepen the integration of the tourism sector into the broader economy through the diversification of the regional tourism product, as well as the enhancement of linkages with other sectors, while the second is to expand the tourism sector into a total service economy through the introduction of new services. Considering linkages, the development of clusters and value chains to support the tourism sector is identified with respect to agriculture and food, handicraft, and furnishings. Among the new services identified are education, wellness, yachting and boating, financial services, and information and communications technologies (ICT). This overall strategy is deemed to be better suited to the macroeconomic realities of the Caribbean, where high labour costs and other structural rigidities require a high-valued specialty tourism product in order to sustain the sector’s global competitiveness.

Doses e formas de aplicação de molibdênio na cultura do milho

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Cultura do milho (Zea mays L.) em sucessão com aveia preta (Avena strigosa Schreb.) em áreas sob manejo agroflorestal em aléias com Leucaena diversifolia

Pós-graduação em Agronomia (Agricultura) - FCA

Produção e qualidade da fibra do algodoeiro (Gossypium hirsutum L.) em função da adubação foliar com nitrato de potássio

Pós-graduação em Agronomia (Agricultura) - FCA

Cotidiano escolar e infância: interfaces da educação infantil e do ensino fundamental nas vozes de seus protagonistas

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Desempenho de unidades de pré-limpeza de frutos de macadâmia (M. integrifolia)

Pós-graduação em Agronomia (Energia na Agricultura) - FCA