Network for Cooperation in Integrated Water Resource Management for Sustainable Development in Latin America and the Caribbean No. 7

Editorial remarks.-- Open discussion: public policies for sustainable development.-- Meetings: Workshop for Managers of River Basin Organizations in Latin America and the Caribbean ; General Assembly of the International Network of Basin Organizations ; Seminar workshop on environmental accounting for water resources in Chile.-- Future activities.-- Courses.-- CELAA, CINARA and IMTA.-- Internet and WWW News

Network for Cooperation in Integrated Water Resource Management for Sustainable Development in Latin America and the Caribbean No. 26

Editorial remarks.-- Open discussion: Formulation of new regulatory frameworks for water supply and sanitation services ; The problem of provision of public goods.-- News of the network: Matanza-Riachuelo River basin authority, Argentina ; Venezuelan water law.-- Meetings: Fifth Brazilian Congress on Regulation ; Experience of water management in the Southern Cone.-- Courses: Course on international investment agreements, water and public services.-- Internet and WWW news

Proposed action lines of the Committee on South-South Cooperation for the period 2016-2018. Note by the Secretariat

The secretariat is hereby circulating the present document, prepared by the Mexican Agency for International Development Cooperation (AMEXCID), to members of the Economic Commission for Latin America and the Caribbean (ECLAC), as input to the meeting of the Committee on South-South Cooperation to be held in the framework of the thirty-sixth session of the Commission.

ESSAYS ON INTERNATIONAL RESEARCH AND DEVELOPMENT SPILLOVERS

The dissertation consists of three essays on international research and development spillovers. In the first essay, I investigate the degree to which differences in institutional arrangements among Sub-Saharan African countries determine the extent of benefits they derive from foreign research and development spillovers. In particular, I compare the international research and development spillovers for English common law and French civil law Sub-Saharan African countries. I show that differences in the legal origin of the company law or commercial codes in these countries may reflect the extent of barriers they place in the paths of firms that engage in the investment process. To tests this hypothesis, I constructed foreign R&D spillovers variable using imports as weights and employed the endogenous growth framework to estimate elasticities of productivity with respect to foreign R&D spillovers for a sample of 17 English common law and French Civil law Sub-Saharan African countries over the period 1980-2004. My results find support for the hypothesis. In particular, foreign R&D spillovers were higher in the English common law countries than in the French civil law countries. In the second essay, I examine the question of whether technical cooperation grants and overseas development assistance grants induce R&D knowledge spillovers in Sub-Saharan African countries. I test this hypothesis using data for 11 Sub-Saharan African countries over the period 1980-2004. I constructed foreign R&D spillovers using the technical cooperation grants and overseas development assistance grants as weights and employed the endogenous growth framework to provide quantitative estimates of foreign R&D spillover effects in 11 Sub-Saharan African countries. I find that technical cooperation grants and overseas development assistance grants are major mechanisms through which returns to R&D investments in G7 countries flows to Sub-Saharan African countries. However, their influence has declined over the years. Finally, the third essay tests the hypothesis that the relationship between a country's exporters and their foreign purchasing agents may lead to the exchange of ideas and thereby improve the manufacturing process and productivity in the exporting country. I test this hypothesis using disaggregated export data from OECD countries. The foreign R&D capital stock in this essay was constructed as exports weighted average of domestic R&D capital stock. I find empirical support for the hypothesis. In particular, capital goods exports generate more learning effects and therefore best explain productivity in OECD countries than non-capital goods exports.

Endosymbiosis in trypanosomatids: the genomic cooperation between bacterium and host in the synthesis of essential amino acids is heavily influenced by multiple horizontal gene transfers

Background Trypanosomatids of the genera Angomonas and Strigomonas live in a mutualistic association characterized by extensive metabolic cooperation with obligate endosymbiotic Betaproteobacteria. However, the role played by the symbiont has been more guessed by indirect means than evidenced. Symbiont-harboring trypanosomatids, in contrast to their counterparts lacking symbionts, exhibit lower nutritional requirements and are autotrophic for essential amino acids. To evidence the symbiont’s contributions to this autotrophy, entire genomes of symbionts and trypanosomatids with and without symbionts were sequenced here. Results Analyses of the essential amino acid pathways revealed that most biosynthetic routes are in the symbiont genome. By contrast, the host trypanosomatid genome contains fewer genes, about half of which originated from different bacterial groups, perhaps only one of which (ornithine cyclodeaminase, EC:4.3.1.12) derived from the symbiont. Nutritional, enzymatic, and genomic data were jointly analyzed to construct an integrated view of essential amino acid metabolism in symbiont-harboring trypanosomatids. This comprehensive analysis showed perfect concordance among all these data, and revealed that the symbiont contains genes for enzymes that complete essential biosynthetic routes for the host amino acid production, thus explaining the low requirement for these elements in symbiont-harboring trypanosomatids. Phylogenetic analyses show that the cooperation between symbionts and their hosts is complemented by multiple horizontal gene transfers, from bacterial lineages to trypanosomatids, that occurred several times in the course of their evolution. Transfers occur preferentially in parts of the pathways that are missing from other eukaryotes. Conclusion We have herein uncovered the genetic and evolutionary bases of essential amino acid biosynthesis in several trypanosomatids with and without endosymbionts, explaining and complementing decades of experimental results. We uncovered the remarkable plasticity in essential amino acid biosynthesis pathway evolution in these protozoans, demonstrating heavy influence of horizontal gene transfer events, from Bacteria to trypanosomatid nuclei, in the evolution of these pathways.

France, Germany and the United Kingdom Cooperation in Times of Turbulence

This thesis deals with cooperation between France, Germany and the United Kingdom within the area of foreign and security policy. Two case studies are presented, one of them concerning cooperation between the three states within and outside institutions in 1980 following the Soviet invasion of Afghanistan, and the other dealing with cooperation concerning the crisis in Macedonia in 2001. In accordance with the approach of neoliberal institutionalism the primary hypothesis is that cooperation is primarily determined by the interests of states but it is also limited by norms and affected by the institutions of which the three states are members. The study describes the large variety of forms of cooperation that exist between France, Germany and the United Kingdom, in which the United States also plays an important part, and which also includes their cooperation within a number of international institutions. The study also points to the new forms of interaction between states and institutions that have come about since the Cold War ended, and which give a stronger role to institutions and the cooperation between them. Still, however, states retain a decisive role in cooperation within the field of foreign and security policy.

Securitization and Special Purpose Vehicles in an International Setting: a Systemic View

The present work tries to display a comprehensive and comparative study of the different legal and regulatory problems involved in international securitization transactions. First, an introduction to securitization is provided, with the basic elements of the transaction, followed by the different varieties of it, including dynamic securitization and synthetic securitization structures. Together with this introduction to the intricacies of the structure, a insight into the influence of securitization in the financial and economic crisis of 2007-2009 is provided too; as well as an overview of the process of regulatory competition and cooperation that constitutes the framework for the international aspects of securitization. The next Chapter focuses on the aspects that constitute the foundations of structured finance: the inception of the vehicle, and the transfer of risks associated to the securitized assets, with particular emphasis on the validity of those elements, and how a securitization transaction could be threatened at its root. In this sense, special importance is given to the validity of the trust as an instrument of finance, to the assignment of future receivables or receivables in block, and to the importance of formalities for the validity of corporations, trusts, assignments, etc., and the interaction of such formalities contained in general corporate, trust and assignment law with those contemplated under specific securitization regulations. Then, the next Chapter (III) focuses on creditor protection aspects. As such, we provide some insights on the debate on the capital structure of the firm, and its inadequacy to assess the financial soundness problems inherent to securitization. Then, we proceed to analyze the importance of rules on creditor protection in the context of securitization. The corollary is in the rules in case of insolvency. In this sense, we divide the cases where a party involved in the transaction goes bankrupt, from those where the transaction itself collapses. Finally, we focus on the scenario where a substance over form analysis may compromise some of the elements of the structure (notably the limited liability of the sponsor, and/or the transfer of assets) by means of veil piercing, substantive consolidation, or recharacterization theories. Once these elements have been covered, the next Chapters focus on the regulatory aspects involved in the transaction. Chapter IV is more referred to “market” regulations, i.e. those concerned with information disclosure and other rules (appointment of the indenture trustee, and elaboration of a rating by a rating agency) concerning the offering of asset-backed securities to the public. Chapter V, on the other hand, focuses on “prudential” regulation of the entity entrusted with securitizing assets (the so-called Special Purpose vehicle), and other entities involved in the process. Regarding the SPV, a reference is made to licensing requirements, restriction of activities and governance structures to prevent abuses. Regarding the sponsor of the transaction, a focus is made on provisions on sound originating practices, and the servicing function. Finally, we study accounting and banking regulations, including the Basel I and Basel II Frameworks, which determine the consolidation of the SPV, and the de-recognition of the securitized asset from the originating company’s balance-sheet, as well as the posterior treatment of those assets, in particular by banks. Chapters VI-IX are concerned with liability matters. Chapter VI is an introduction to the different sources of liability. Chapter VII focuses on the liability by the SPV and its management for the information supplied to investors, the management of the asset pool, and the breach of loyalty (or fiduciary) duties. Chapter VIII rather refers to the liability of the originator as a result of such information and statements, but also as a result of inadequate and reckless originating or servicing practices. Chapter IX finally focuses on third parties entrusted with the soundness of the transaction towards the market, the so-called gatekeepers. In this respect, we make special emphasis on the liability of indenture trustees, underwriters and rating agencies. Chapters X and XI focus on the international aspects of securitization. Chapter X contains a conflicts of laws analysis of the different aspects of structured finance. In this respect, a study is made of the laws applicable to the vehicle, to the transfer of risks (either by assignment or by means of derivatives contracts), to liability issues; and a study is also made of the competent jurisdiction (and applicable law) in bankruptcy cases; as well as in cases where a substance-over-form is performed. Then, special attention is also devoted to the role of financial and securities regulations; as well as to their territorial limits, and extraterritoriality problems involved. Chapter XI supplements the prior Chapter, for it analyzes the limits to the States’ exercise of regulatory power by the personal and “market” freedoms included in the US Constitution or the EU Treaties. A reference is also made to the (still insufficient) rules from the WTO Framework, and their significance to the States’ recognition and regulation of securitization transactions.

Nation building in Bosnia and Herzegovina: Cooperation, coordination and collaboration

Cross-sectoral interorganizational relationships in post-conflict situations occur regularly. Whether formal task forces, advisory groups or other ad hoc arrangements, these relations take place in chaotic and dangerous situations with urgent and turbulent political, economic and social environments. Furthermore, they typically involve a large number of players from many different nations, operating across sectors, and between multiple layers of bureaucracy and diplomacy. The organizational complexity staggers many participants and observers, as do the tasks they are charged with completing. Reform efforts in Bosnia and Herzegovina starting in 1995 may serve as the archetype model of conflict, transition and development for the 21st century. It wins this honor due not to its particular programmatic successes and failures, rather to the interorganizational complexity of the International Community. From the massive response to the crisis, to the modern nation-building policies it spawned, and the development assistance practices and institutional arrangements it created, the Bosnian development experience has much to offer by way of lessons learned. This manuscript frames the unique Bosnian development situation, and provides lessons learned from the experience of nation building given local realities. Pettigrew (1992) called this "contextualizing." While network and/or organizational structure, strategy and process explain many interorganizational relationship issues, the development variables identified in this manuscript prove equally important, yet elusive and difficult to measure despite their very real and overt presence.