Essays on economic growth

A fundamental question in development economics is why some economies are rich and others poor. To illustrate the income per capita gap across economies consider that the average gross domestic product (GDP) per capita of the richest 10 percent of economies in the year 2010 was a factor of 40-fold that of the poorest 10 percent of economies. In other words, the average person in a rich economy produces in just over 9 days what the average person in a poor economy produces in an entire year. What are the factors that can explain this difference in standard of living across the world today? With this in view, this dissertation is a conjunction of three essays on the economic growth field which we seek a possible responses to this question. The first essay investigates the existence of resource misallocation in the Brazilian manufacturing sector and measures possible distortions in it. Using a similar method of measurement to the one developed by Hsieh and Klenow (2009) and firm-level data for 1996-2011 we find evidence of misallocation in the manufacturing sector during the observed period. Moreover, our results show that misallocation has been growing since 2005, and it presents a non-smooth dynamic. Significantly, we find that the Brazilian manufacturing sector operates at about 50% of its efficient product. With this, if capital and labor were optimally reallocated between firms and sectors we would obtain an aggregate output growth of approximately 110-180% depending on the mode in which the capital share is measured. We also find that the economic crisis did not have a substantial effect on the total productivity factor or on the sector's misallocation. However, small firms in particular seem to be strongly affected in a global crisis. Furthermore, the effects described would be attenuated if we consider linkages and complementarity effects among sectors. Despite Brazil's well-known high tax burden, there is not evidence that this is the main source of resource misallocation. Moreover, there is a distinct pattern of structural change between the manufacturing sectors in industrialized countries and those in developing countries. Therefore, the second essay demonstrate that this pattern differs because there are some factors that distort the relative prices and also affect the output productivity. For this, we present a multi-sector model of economic growth, where distortions affect the relative prices and the allocation of inputs. This phenomenon imply that change of the production structure or perpetuation of the harmful structures to the growth rate of aggregate output. We also demonstrate that in an environment with majority decision, this distortion can be enhanced and depends on the initial distribution of firms. Furthermore, distortions in relative prices would lead to increases in the degree of misallocation of resources, and that imply that there are distinct patterns of structural changes between economies. Finally, the calibrated results of the framework developed here converge with the structural change observed in the firm-level data of the Brazilian manufacturing sector. Thereafter, using a cross-industry cross-country approach, the third essay investigates the existence of an optimal level of competition to enhance economic growth. With that in mind, we try to show that this optimal level is different from industrialized and under development economies due to the technology frontier distance, the terms of trade, and each economy's idiosyncratic characteristics. Therefore, the difference in competition industry-country level is a channel to explain the output for worker gap between countries. The theoretical and empirical results imply the existence of an inverted-U relationship between competition and growth: starting for an initially low level of competition, higher competition stimulates innovation and output growth; starting from a high initial level of competition, higher competition has a negative effect on innovation and output growth. Given on average industries in industrialized economies present higher competition level. With that if we control for the terms of trade and the industry-country fixed effect, if the industries of the developing economy operated under the same competition levels as of the industrialized ones, there is a potential increase of output of 0.2-1.0% per year. This effect on the output growth rate depends on the competition measurement used.

Consumption-wealth ratio and expected stock returns: evidence from panel data

This paper investigates the role of consumption-wealth ratio on predicting future stock returns through a panel approach. We follow the theoretical framework proposed by Lettau and Ludvigson (2001), in which a model derived from a nonlinear consumer’s budget constraint is used to settle the link between consumption-wealth ratio and stock returns. Using G7’s quarterly aggregate and financial data ranging from the first quarter of 1981 to the first quarter of 2014, we set an unbalanced panel that we use for both estimating the parameters of the cointegrating residual from the shared trend among consumption, asset wealth and labor income, cay, and performing in and out-of-sample forecasting regressions. Due to the panel structure, we propose different methodologies of estimating cay and making forecasts from the one applied by Lettau and Ludvigson (2001). The results indicate that cay is in fact a strong and robust predictor of future stock return at intermediate and long horizons, but presents a poor performance on predicting one or two-quarter-ahead stock returns.

Viabilidade econômica do cultivo da alface crespa em monocultura e em consórcio com pepino

The protected culture, among other advantages, made possible to diminish the seasoning in offers and to improve the quality of vegetables. However, one consists in technology of high cost, that it may be attenuated with the increase in the efficiency of the use of the protected area, proportionated for the intercropping. The experiment was carried out at greenhouse at UNESP, Jaboticabal-SP, in the period of August and November of 2005, with the aim of evaluating the operational cost (COT) and the profitability of the crisphead lettuce "Veronica" (Lactuca sativa L.) in monoculture and in intercropping with the Japanese cucumber "Hokushin" (Cucumis sativus L.), in protected environment. The main cost items analyzed were the operational cost, the agricultural amendments and the materials cost. For the crisphead lettuce in monoculture and in intercropping, the COT was R$ 696,37 and R$ 295,06/614,4 m(2) respectively and the productivity was 822.53 and 890.78 kg/614,4 m(2). In monoculture and in intercropping the gross incomes were R$ 489,93 and R$ 452,39/614,4 m(2) respectively. It was verified a loss of R$ 206,44/614,4 m(2) in the crisphead lettuce monoculture and an operational profit of R$ 157,33/614,4 m(2) in protected environment when in intercropping with cucumber.

Ensino superior em Turismo: uma análise da relação dos cursos acadêmicos de Turismo da cidade do Natal-RN e o mercado de trabalho na percepção dos egressos dos anos de 2009 e 2010

The process of development of any area is closely linked to teaching and research, and in Tourism it is not different. Thus, in this area in which service is one of the factors intrinsically related to its success , it is observed the need for people with deep and critical training in the various aspects of this activity acting in this sector. However, we can see the existence of some differences between what is offered by the academy from what is required by the market. Therefore, the objective of this research is to verify the relationship between higher education in Tourism and labor market through the perception of the bachelor in this area, graduated in Natal-RN, since it is the tourismologist who makes the link between this two fields. To know the perception of these tourismologists, it was necessary to apply a questionnaire to those ones graduated in the years 2009 and 2010. In accordance with the aim of this study, this research was exploratory-descriptive. Related to the technical procedures, it was a documentary, literature and field research. To have it analyzed, some qualitative and quantitative techniques were applied according to our specific objectives and the types of data collected, such as: content analysis, factorial analysis to synthesize the information and identify the basic dimensions that represent the different variables studied, the standard deviation to verify the variation of the responses in some items and the correlation technique that allows the analysis of the relationship between two variables. In response to the objectives proposed here, we could finally conclude that: the syllabuses of these courses are too general and the graduates themselves consider them so. It was diagnosed that the graduates 1) are mostly female, 2) a very small part of them is working in the area that they are graduated in, and 3) not all of them receive satisfactory wages which contributes to having a negative view of their degree course. Moreover, the educational institution where they studied was not a decisive factor to get a job. It was still diagnosed that most part of them do not have positive perceptions when thinking about the future of their careers as bachelors in Tourism. Many of them, including, if it was possible to change something in their careers so far, they could have chosen another college degree. It was found that, although there is a negative perception about their professional future, almost half of them believe that the course met the needs of the market. However, those ones that are not working have a more positive point of view related to the applicability of higher education. On the other hand, the other ones who already worked in this area have a more negative perception about it and do not believe that the course meets the market's needs. In summary, this study allowed the understanding of the existence of some gaps that exist between higher education in Tourism and the market needs, professionally speaking, thus contributing to the spreading of ideas on that subject for teachers, researchers and the current and future students of the area.

Vegetative and productive aspects of organically grown coffee cultivars under shaded and unshaded systems

Although Coffea arabica species has its origin in the African understories, there is great resistance on the part of the Brazilian producers for growing this species under agroforestry systems as they fear that shading reduces production. This study aimed at evaluating some vegetative traits and the productivity of organically grown coffee (Coffea arabica L.) cultivars under shaded and unshaded systems. Twelve treatments consisting of two cultivation systems (shaded and unshaded) and six coffee cultivars were arranged in randomized blocks with four replicates, in a split-plot scheme. Shading was provided by banana (Musa sp.) and coral bean plants (Erythrinaverna). Shading delayed fruit maturation. Late maturation cultivars, such as the Icatu and the Obatã, matured early in both cultivation systems, while medium and early maturation cultivars presented late maturation. Cultivation in the shaded system increased the leaf area and the number of lower branches, decreased the number of productive nodes per branch, and increased the distance between the nodes and the number of leaves present in the branches. Cultivation in the unshaded system presented greater number of plants with branch blight in relation to plants grown in the shade. The productivity of the cultivars was not different, at 30.0 processed bags per hectare in the shaded system, and 25.8 processed bags per hectare in the unshaded system. The most productive cultivars in the shaded system were the Tupi, the Obatã, and the Catuaí, while no differences between cultivars were obtained in the unshaded system.

Condições e relações de trabalho no serviço público: o caso do governo Lula

Cet article a l'objectif de détailler les diverses initiatives du gouvernement Lula (2003-2010) par rapport à la mise en forme d'une politique de ressources humaines et, de cette façon, vérifier s'il y a eu une amélioration des conditions et relations de travail dans le secteur public brésilien. À partir des années 1990, et dans le sens contraire de la grande croissance de l'emploi public dans les six décennies précédentes, l'adhésion des gouvernements brésiliens aux principes du « Consensus de Washington » souligne le fonctionnalisme comme point fondamental dans l'agenda des réformes nécessaires à la reprise de la croissance économique. Ces gouvernements là se sont penchés sur le traitement de l'emploi public comme étant un problème fiscal et ont agi pour restreindre sa dimension. Simultanément, les conditions et relations de travail se sont présentées plus fragilisées (rendues évidentes par l'absence de réajustement de salaire; la croissance de formes variables de rémunération ; l'élargissement du cadre de travailleurs temporaires et externes, e avec l'attitude autoritaire devant la représentation syndicale). Avec une recherche documentaire et bibliographique, on pourra remarquer que la restructuration de nombreuses carrières, la reprise des concours, la création de la « Réunion Nationale de Négotiation Permanente », la réforme de la sécurité sociale et les réajustements selectifs des rémunérations manifestent l'ambiguïté comme une marque fondamentale des politiques de ressources humaines. Cela parce que, au même temps, les progrès des conditions de travail du serviteur public ont toujours été accompagnés par l'entretien d'une partie de l'agenda conservatrice des années 1990, surtout par rapport à la reproduction de limites fiscaux rigoureux.

Synthesis and properties of branched polyethylene/high-density polyethylene blends using a homogeneous binary catalyst system composed of early and late transition metal complexes

Branched polyethylene/high-density polyethylene blends (BPE/HDPE) with a wide range of molecular weights, melt flow indexes (MFI), and intrinsic viscosity were prepared using the homogeneous binary catalyst system composed by Ni(alpha-diimine)Cl-2 (1) (alpha-diimine = 1,4-bis(2,6-diisopropylphenyl)-acenaphthenediimine) and {Tp(Ms*)} TiCl3 (2) (Tp(Ms*)=hydridobis(3-mesitylpyrazol-1-yl)(5-mesityl-pyrazol-1-yl)) activated with MAO and/or TIBA in hexane at two different polymerization temperatures (30 and 55 degreesC) and by varying the nickel loading molar fraction (x(Ni)). At all Temperatures, a non-linear correlation between the x(Ni) and the productivity was observed, suggesting the occurrence of a synergistic effect between the nickel and the titanium catalyst precursors, which is more pronounced at 55 degreesC. The molecular weight of the BPE/HDPE blends considerably decreases with increasing Al/M molar ratio. The melt flow indexes (MFI) and intrinsic viscosities (eta) are strongly affected by x(Ni), but the melting temperatures are nearly constant, 132 +/- 3 degreesC. Dynamic mechanical thermal analysis (DMTA) shows the formation of different polymeric materials where the stiffness vanes according, to the x(Ni) and temperature used in the polymerization reaction. The surface morphology of the BPE/HDPE blends studied by scanning electron microscopy (SEM) revealed a low miscibility between the PE phases resulting in the formation of a sandwich structure after etching with o-xylene.

Establishing Standards for the Integrated Recommendation and Diagnosis System (DRIS) for Irrigated Bean Crops

This article addresses the establishment of integrated diagnostics and recommendation system (DRIS) standards for irrigated bean crops (Phaseolus vulgaris) and compares leaf concentrations and productivity in low- and high-productivity populations. The work was carried out in Santa Fe de Goias, Goias State, Brazil, in the agricultural years 1999/2000 and 2000/2001. For the nutritional diagnosis, leaf samples were collected, and leaf concentrations of nitrogen (N), phosphorus (P), potassium (K), calcium (Ca), magnesium (Mg), sulfur (S), boron (B), copper (Cu), iron (Fe), manganese (Mn), and zinc (Zn) were established in 100 commercial bean crops. A database was set up listing the leaf nutrient content and the respective productivities, subdivided into two subpopulations, high and low productivity, using a bean yield value of 3000 kg ha-1 to separate these subpopulations. Sufficiency values found in the high-productivity population matched only for the micronutrients B and Zn. The nutritional balance among the populations studied was coherent and was lower in the high-productivity population. The DRIS standards proposed for irrigated bean farming were efficient in evaluating the nutritional status of the crop areas studied. Calcium, Cu, and S were found to be the least available nutrients, indicating high response potential for the fertilizing using these nutrients.

Comparison of artificial and natural, new and reused, brackish water for the larviculture of the freshwater prawn Macrobrachium rosenbergii in a recirculating system

Differences in culture duration, metamorphosis rate and the productivity in hatchery culture of M. rosenbergii using a closed system with natural and artificial brackish water were evaluated. Reuse of brackish water in more than one hatchery cycle was also evaluated. Natural and artificial brackish water constituted the two tested treatments, which were distributed in four independent recirculating systems (tank and respective biofilter). Four batches of cultures were conducted and the 2nd and 4th reused the water from the 1st and 3rd, respectively. Mean duration of the hatchery period was 28 d in natural brackish water and 31 d in artificial brackish water. The metamorphosis rate and the average productivity for the natural brackish water treatment were 74% and 60 postlarvae/ L. respectively, and values obtained with artificial brackish water were 55% and 44 postlarvae/L. The successful hatchery culture of M. rosenbergii in this specific artificial brackish water suggests its potential use in enterprises located far from the coast. Brackish water can be used in two consecutive cultures without a negative effect on productivity.

The phenomenon of photoinhibition of photosynthesis and its importance in reforestation

Photoinhibition, defined as the inhibition of photosynthesis caused by excessive radiance, affects field production to a great extent. This phenomenon is particularly relevant in reforestation practices, when one deals with forests of rapid growth such as Eucalyptus. The imposition of additional stress factors during exposure to high radiance increases the potential for photoinhibitory effects, so the inhibition of photosynthesis indicates that the plant is submitted to stressful conditions. Photoinhibition can be reversible, playing a protective role for the photosynthetic systems, but it can also reflect damage that has already occurred in the photosynthetic apparatus, being irreversible in this case. In this review, we present the physiological and molecular mechanisms of photoinhibition and discuss the interaction between light and other stress factors and its effects on plants destined for reforestation. In addition, the present work analyzes some of the features and strategies that help plants avoid or restrict the occurrence of photoinhibition. For instance, pigments and enzymes which naturally occur in plants can prevent photoinhibition, while preadaptation to nonideal conditions can enhance tolerance to a certain stress factor. Most of these morphological, metabolic, and biochemical mechanisms of defense are related to the dissipation of excessive energy such as heat. Understanding these mechanisms can help improve cultivation procedures, avoid the plants' death, and increase productivity in the field.

Preliminary Overview of the Economies of Latin America and the Caribbean 2011

Incluye Bibliografía

Financing for development and middle income-countries: new challenges

Spanish version avalilable at the Library

Poverty impacts of trade integration with the European Union: lessons for Ecuador

Includes bibliography

Growth versus development: different patterns of industrial growth in Latin America during the 'boom' years

Includes bibliography

Education and the labour market in Latin America: why measurement is important and what it tells us about policies, reforms and performance

Includes bibliography