The fiscal impact of trade liberalization and commodity price fluctuation: the case of Dominican Republic, 1980-1998

Includes bibliography

The Netherlands Antilles: trade and integration with CARICOM

Introduction The Netherlands Antilles is an autonomous entity within the Kingdom of the Netherlands and comprises a federation of five Caribbean islands: Bonaire and Curacao (the Leeward islands) which comprise 80 per cent of the population of 211,000 and Saba, St. Eustatius and the southern part of St. Maarten (the Windward islands). Like the other countries in the Kingdom, it enjoys full autonomy in internal matters as, for example, education, public health, justice and customs. It has a per capita income of about US$ 12,000. The Leeward Islands and the Windward Islands account for about 75 per cent (Curacao (70 per cent) and Bonaire (5 per cent)) and 25 percent respectively of the economy of the Netherlands Antilles. The Netherlands Antilles has its own currency, the Netherlands guilder, which is pegged to the United States dollar at a fixed rate since 1971. The economy has some unique features that stem from its close relations with the Netherlands, its undiversified nature and heavy dependence on tourism, offshore finance, oil refining and shipping, the high share of trade (exports of goods and services of about 75 per cent of GDP), its geographical characteristics, its common border with the French Republic on St. Maarten, its duty-free access for imports from Aruba, its de facto free trade zone (FTZ), partial dollarization, especially for the Windward Islands, and its highly regulated labor market (1). Adverse economic shocks in the last two decades affected particularly the offshore financial sector and the oil refinery and, to a lesser extent, tourism. The repeal of withholding taxes in the United States in the 1980s indirectly caused the collapse of a number of highly profitable offshore financial activities in Curacao, leading to significant drops in government revenue and contributions to foreign exchange earnings. The withdrawal of Shell from Curacao in 1986 and the (temporary) closure of the oil refinery which had been a mainstay of the Curacao economy for almost three quarters of a century was the second major shock. It was subsequently leased to the Venezuelan State Company, Petroleos de Venezuela Sociedad Anonima (PDVSA), which resumed operations and preserved employment. In the 1990s, the Windward Islands were bit by several devastating hurricanes, which destroyed much of the economic infrastructure on the islands, including about half of the number of available hotel rooms in St Maarten. Further negative shocks were related to the discontinuation of certain trade privileges on European markets for Overseas Countries and Territories (OCTs), the withdrawal by the Netherlands of certain tax privileges for Dutch pensioners residing in the Netherlands Antilles and disruptions in the availability of Solidarity Fund resources for the smaller islands. National income has been on the decline since 1997. GDP declined by about 6 per cent between 1997 and 1999. Underlying fiscal imbalances and structural weaknesses have also impacted negatively on the economy. In recent years, with recession high unemployment and migration have been experienced (2). The Netherlands Antilles has been able to survive thanks to additional aid from the Netherlands, large-scale spontaneous emigration (mostly to the Netherlands), some drop in international reserves, an increase in domestic debt and arrears and reduced outlays for the maintenance of public assets. From 1986 onwards, successive efforts at restoring macroeconomic balance, particularly with regard to public finance, were made, but were unsuccessful. Adjustment was also attempted in 1996 and 1997, but failed to meet the desired targets. In 1999, the government launched a new National Recovery Plan" (NRP). The NRP contains important medium-term structural adjustment measures aimed at restoring macroeconomic balance and conditions for revitalizing the economy. The NRP subsequently served as an important input into a comprehensive adjustment plan drawn up with the assistance of the International Monetary Fund (IMF) and reflected in the government's Memorandum of Economic Policies dated 15 September 2000. Beyond restoring macroeconomic balance and reforming the economic incentive framework, the government aims at establishing a Comprehensive Development Framework (CDF) for the formulation and implementation of a sustainable long-term growth strategy. It is against the above background that this study is undertaken. Its main objective is to assess the integration options facing the Netherlands Antilles (3) vis-a-vis the Caribbean Community (CARICOM). A secondary objective is to examine the above taking into account, inter alia, the level of trade between the Netherlands Antilles and CARICOM, the barriers to trade between the two groups of countries and the requirements for increasing trade between the two groups of countries. The Consultant was given an initial Draft Terms of Reference (Annex 1) with the intention of modifying it in the course of the interviews with all the stakeholders. The main idea that emerged from these interviews was a concern with some possible form of association with CARICOM. The Consultant was asked to exam the costs and benefits of various forms of association and to recommend an option. This adjustment of the Terms of Reference (TOR) was substantial and involved the Consultant having to do some interviews and collect documentation in CARICOM. The study essentially revolves around the search for a road map for the Netherlands Antilles. It is tackled in the first instance by describing the existing system of trade of the Netherlands Antilles with a view to determining the import and export structures and the specific nature and extent of trade in goods and services between the Netherlands Antilles and CARICOM. 1 Netherlands Antilles: Elements of a Strategy for Economic Recovery and Sustainable Growth. Interim Report of the World Bank Mission, 5-20 December 2000. 2 IMF, IMF Country Report No. 01/73 Kingdom of the Netherlands-Netherlands Antilles-Recent Development, Selected Issues and Statistical Appendix. May 2001 3 The Netherlands Antilles is a country within the Kingdom of the Netherlands. It contains five islands. Curacao and Bonaire (Leewards) and St Eustatius, Saba and St Maarten (The Windwards)"

Estudo das inter-relações patógeno-hospedeiro de Meloidogyne incognita (Kofoid & White) Chitwood, M. Javanica (Treub) Chitwood e Pratylenchus brachyurus (Godfrey) Filipjev & Schuurmans Stekhoven em cana-de-açúcar

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Graduação nuclear do carcinoma invasivo de ductos mamários em punção aspirativa por agulha fina: estudo comparativo com grau histológico e avaliação da concordância intra e inter-observador

Pós-graduação em Ginecologia, Obstetrícia e Mastologia - FMB

The United States and Latin America and the Caribbean: highlights of economy and trade

Document prepared on the occasion of the visit of President Barack Obama to Brazil, Chile and El Salvador in March 2011

Commercial bank financing for micro-enterprises and SMEs in Mexico

Includes bibliography.

Corporate governance in Brazil, Chile, Colombia, Mexico and Peru: The determinants of risk in corporate debt issuance

This study builds on the Corporate governance and development of capital markets in Latin America report published by the Development Bank of Latin America (CAF) and the Economic Commission for Latin America and the Caribbean (ECLAC), which looked at the regulatory framework related to the principles of corporate governance in the region and assessed its contribution to the development of capital markets. This book complements the previous study and is the result of a joint effort by CAF, the Inter- American Development Bank (IDB) and ECLAC to identify the key elements of corporate governance for determining debt instrument issuance risk in potential conflicts of interest arising from relationships among shareholders, executives and bondholders

Educação rural e desenvolvimento local sustentável: a lógica subjacente das relações inter-setoriais

Este estudo tem por objetivo avaliar os modelos de educação gerados nos processos de ocupação da terra nos municípios Juazeiro, Uauá e Valente no Estado da Bahia, tanto nas áreas irrigadas quanto nas de sequeiro, tendo como hipótese norteadora a educação rural como mecanismo disseminador de informações à população e grande mobilizadora das transformações social, econômica, política e cultural das comunidades, na promoção do seu desenvolvimento sustentável. A metodologia da pesquisa tomou por base a análise das redes de relações sociais engendradas no processo, elegendo-se como categorias preferências para a compreensão do fenômeno estudado o capital social, o desenvolvimento local, pedagogias alternativas, currículo escolar e as parcerias intersetoriais, através da ruptura com o antagonismo dos conceitos de indivíduo e de sociedade. Trata-se de pesquisa quanti-qualitativa fundamentada numa abordagem de caráter interativo, onde o discurso emerge como espaço de negociação do sentido e da construção dos sujeitos aprendizes, cujos subsídios somados às evidências quantitativas permitiram o aprofundamento da complexidade dos fenômenos, suas contradições e seu relacionamento com o contexto. A análise dos dados permitiu compreender que a Educação Rural nas áreas pesquisadas vive duas situações: uma, veiculada pelo sistema público de ensino que, salvo algumas experiências pontuais, não atende aos interesses dos povos que habitam e trabalham no campo. Outra, exercitada por Organizações Não Governamentais que valorizando o rural como espaço de vida, forma indivíduos com um repertório de saberes, habilidades e valores capaz de mobilizá-los para uma ação transformadora.

Alterações do ventrículo esquerdo e suas inter-relações com a monitorização ambulatorial de pressão arterial em pacientes tratados por hemodiálise crônica

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

From west to east: Environmental influences on the rate and pathways of Polynesian colonization

The prime movers behind the prehistoric colonization of Remote Oceania, and in particular the large c. 2000-year temporal gap (i.e. long pause') seen between West and East Polynesia, has long been major point of interest in the Pacific. To address these events and the processes that may have led to the known chronological disparity of these diasporas, we present results from two different, but equally powerful, analytical tools which are used to examine Polynesian seafaring capabilities and trajectories. The first is a statistical model known as Seascape, which simulates voyages, while the second uses ease of eastward travel estimates based on land distribution and wind pattern analysis. These analyses were done with the goal of determining the potential role of environmental factors in the colonization process, particularly as they relate to the long pause. We show that the eastern boundary of West Polynesia, the limit of the initial colonization pulse, is marked by a discontinuity in land distribution, where the distances travelers would have to cross in order to reach islands further to the east become significantly larger. At the same time, in West Polynesia, the frequency and intensity of winds favorable to eastward displacement decrease continuously from west to east. As far as winds are concerned, eastward travel in West Polynesia is favored in the northern and southern areas and much more difficult across the central portion. Favorable winds have a clear seasonality, and eastward displacement along the northern area is much easier under El Nino conditions. Voyaging simulations show that intentional eastward voyages departing from Tonga and Samoa, when undertaken with vessels capable of sailing efficiently against the wind, afford a viable route toward several island groups in East Polynesia, with trips starting in Samoa having a higher probability of success.

The intrinsic growth rate as a predictor of population viability under climate warming

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

Bank efficiency in Brazil: the importance for economic sustainability

Studies on efficiency achieved greater relevance in organisations within an open market framework, which in Brazil began around 1990. The objective of this paper, applying the data envelopment analysis methodology, is to analyse the efficiency of banks operating in the country using the database termed 'the biggest banks', periodically divulged by the Central Bank of Brazil in 2010-2012. The methodology was applied to the 26 largest banking organisations via two approaches, one was financial intermediation and the other was results. In the financial intermediation approach, the efficiency increase was the highest among banks specialised in credit from 2010 to 2012. Retail banks, especially the large ones, felt most intensely the reaction of 2011, a year considered as the sector's low performance year. In the results approach, the efficiency increase was higher among retail banks. Factors such as retractions in the SELIC rate and bank spreads impacted all banks, regardless of the segment.

Differential response of clones of eucalypt to glyphosate

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

The benefits of soft sensor and multi-rate control for the implementation of wireless networked control systems

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

Impact of inter-judge agreement on perceptual judgment of nasality

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)