Community perceptions of four protected areas in the Northern portion of the Cerrado hotspot, Brazil

Establishing effective networks of protected areas (PAS) is one of the major goals of conservation strategies worldwide. However, the success of PAS in promoting biodiversity conservation depends on their integration to local and regional contexts, reducing and mitigating human impacts originating from buffer zones. Community perceptions affect interactions between residents and PAS, and thereby conservation effectiveness. Research at Tocantins state (northern Brazilian Cerrado), aimed to analyse local community perceptions of four PAs, discussing how different factors may influence these. Perceptions were assessed through standardized interviews applied to PA employees and 275 local inhabitants. There was modest community participation in PA establishment and management. Residents were aware of the PAS` existence, but were unfamiliar with their goals. Length of residency and occupation of inhabitants influenced their PA perceptions, shaping different people-park relations in each of the four studied PAs. Involvement of local residents in PA planning and management represents a central strategy to strengthen local support for PAS over the long term. In those areas that still have settlements inside their boundaries, community relocation should follow a careful participatory process to avoid significant changes in local perceptions and attitudes towards these PAS, crucial for conserving Brazilian biodiversity.

Malassezia spp. in acoustic meatus of bats (Molossus molossus) of the Amazon region, Brazil

The yeasts of the Malassezia genus are opportunistic microorganisms and can cause human and animal infections. They are commonly isolated from the skin and auricular canal of mammalians, mainly dogs and cats. The present study was aimed to isolate Malassezia spp. from the acoustic meatus of bats (Molossus molossus) in the Montenegro region, `` Rondonia ``, Brazil. From a total of 30 bats studied Malassezia spp. were isolated in 24 (80%) animals, the breakdown by species being as follows (one Malassezia sp. per bat, N=24): 15 (62.5%) M. pachydermatis, 5 (20.8%) M. furfur, 3 (12.5%) M. globosa and 1 (4.2%) M. sympodialis. This study establishes a new host and anatomic place for Malassezia spp., as it presents the first report ever of the isolation of this genus of yeasts in the acoustic meatus of bats.

Determination of cadmium and lead in cetacean Dolphinidae tissue from the coast of Bahia state in Brazil by GFAAS

In the present study, cadmium and lead in the muscle, lung, liver and kidney of dolphins (Sotalia guianensis and Stenella clymene) of the Bahia coast in the northwest of Brazil were determined by graphite furnace atomic absorption spectrometry. Samples were digested using a diluted oxidant mixture (HNO(3) + H(2)O(2)) with a microwave heating program performed in five steps. The optimized temperatures and chemical modifier for the pyrolysis and atomization were 700 degrees C, 1400 degrees C and Pd plus Mg for Cd, and 900 degrees C, 1800 degrees C and NH(4)H(2)PO(4) for Pb, respectively. Characteristic masses and limits of detections (n = 20, 3 sigma) for Cd and Pb were 1.6 and 9.0 pg and 0.82 ng g(-1) and 0.50 ng g(-1), respectively. Repeatability ranged from 0.87 to 8.22% for Cd and 4.31 to 8.09% for Pb. The found concentrations presented no statistical differences at the 95% confidence level when compared with the ICP OES methods. Addition and recovery tests were also performed and the results ranged between 87 and 112% for both elements. Samples of cetacean Dolphinidae (S. guianensis and S. clymene) were analyzed, and the higher concentrations ranged from 0.09 to 46.2 mu g g(-1) for Cd and 0.04 to 0.47 mu g g(-1) for Pb in liver, and from 0.133 to 277 mu g g(-1) for Cd in the kidney. (C) 2010 Elsevier By. All rights reserved.

The political economy of exchange rate in Brazil

This paper reviews part of the political economy literature on exchange rate policy relevant to understanding the political motivations behind the Brazilian exchange rate policy. We shall first examine the distributive role of the exchange rate, and the way it unfolds in terms of the desired political goals. We will follow by analyzing exchange policy as indicative of government effciency prior to elections. Finally, we discuss fiscal policy from the point of view of political economy, in which the exchange rate results from the macroeconomic equilibrium. Over this review, the Brazilian exchange rate policy is discussed in light of the theories presented.

Sale of credit portfolio and risk : the case of financial institutions in Brazil

Este estudo analisa se as vendas de carteiras de crédito são utilizadas por instituições financeiras para gestão de risco, de acordo com Stanton(1998) e Murray(2001) ou para captação recursos, como apontado em Cebenoyan e Strahan(2001) e Dionne e Harchaoui(2003). Duas hipóteses foram testadas quanto às vendas de carteira de crédito: 1) implicam em melhor rating na carteira remanescente; ou 2) promovem alavancagem financeira - com piora na carteira remanescente -, controlando para a existência de coobrigação e para quem esses ativos foram transferidos. A amostra inclui informações trimestrais de 145 instituições financeiras do primeiro trimestre de 2001 ao segundo trimestre de 2008. Os resultados oferecem evidências empíricas de que as instituições financeiras utilizam estas vendas para melhora do rating da carteira de crédito remanescente, ou seja, elas transferem, em sua maioria, ativos de baixa qualidade, garantindo bons ratings e melhorando a liquidez. Adicionalmente, seguindo a proposta Dionne e Harchaoui(2003) - que além de testar, evidenciam que exigências regulatórias promovem alavancagem em ativos de alto risco - foi observada a relação entre o Índice de Basiléia e rating da carteira de crédito. As conclusões foram semelhantes às encontradas por Dionne e Harchaoui(2003): quanto mais adequada – maior Índice de Basiléia - uma instituição financeira for, maiores as chances de ela possuir uma carteira de crédito com qualidade ruim.

The value of local partners in Brazil: the effects of ownership clusters and business group membership on firm value in emerging markets

Este estudo analisa como a classe de acionistas afeta o valor das empresas brasileiras listadas na bolsa de valores no ponto de vista da governança corporativa. O trabalho examina a interação entre o valor das empresas e cinco tipos de concentrações acionárias comumente presente em mercados emergentes: famílias, agentes públicos, investidores estrangeiros, executivos e investidores financeiros nacionais. A análise empírica demonstra que o mix e a concentração de participação acionária afeta significativamente o valor das empresas. Utilizando uma compilação única de dados em painel de 2004 a 2008, a presente pesquisa também desenvolve hipóteses sobre o efeito da participação em grupos econômicos para o valor das empresas. A investigação encontra evidências de que, apesar de sua importância para o desenvolvimento de empresas brasileiras, o capital familiar, instituições públicas, e investidores estrangeiros estão cedendo lugar a monitores mais especializados e menos concentrados, como executivos e instituições financeiras nacionais. Estes resultados indicam que a governança corporativa no Brasil pode estar alcançando níveis de maturidade mais elevados. Adicionalmente, apesar de não haver indicação da existência de correlação entre a participação em grupos econômicos e o valor das empresas, os resultados indicam que a presença de um tipo específico de acionista em uma empresa do grupo facilita investimentos futuros desta classe de acionista em outras empresas do mesmo grupo, sinalizando que os interesses acionários são provavelmente perpetuados dentro de uma mesma rede de empresas. Finalmente, a pesquisa demonstra que enquanto o capital familiar prefere investir em empresas com ativa mobilidade do capital, investidores internacionais e instituições públicas procuram investimentos em equity com menor mobilidade de capital, o que lhes garante mais transparência com relação ao uso dos recursos e fundos das empresas.

The impact of daycare attendance on math test scores for a cohort of 4th graders in Brazil

We estimate the impact of having attended center-based daycare institutions during early childhood on Math test scores at the 4th grade of elementary school. Because enrollment in daycare centers may depend on unobservable character-istics of the family and the child, we build and estimate a structural model of endogeneous choice of school to deal with the selectivity problem. We nd that attendance to daycare institutions is associated with a gain of approximately 0,04 standard deviation in Math test scores. This result is important to the extent our OLS results as well as most of the studies for Brazil nd no e¤ect associated to daycare attendance, suggesting selectivity may play a role on this finding.

What kind of judiciary do we want?: the access to justice in Brazil

The goal of this paper is to discuss a key issue in the Democratic Rule of Law State: what are the role and main functions of the Judiciary in Brazil? Is the Judiciary mainly a public service provider, adjudicating disputes and guaranteeing individual rights? Or also as a state power, it should mainly control and guide the moral values of the society, changing the status quo and reducing social conflicts? In this sense, what are the conflicts that must be examined by the Judiciary? We will seek to answer these questions based on a discussion subsidized by courts official statistics and the results of surveys conducted with the Brazilian general population. The surveys measured how do citizens feel about their judicial system and what are the circumstances and the facts that determine the judicialization of conflicts. We work with the perceptions and attitudes of citizens relating to the Judiciary as it is today and discuss the Judiciary they want. Then, we compare how attitudes and perceptions relate to actual behavior and use of courts.

Cultures at work: the case of italian expatriates in Brazil

Esta tese de mestrado tem por intenção entender quais são as mais importantes diferenças culturais para os expatriados Italianos que trabalham no Brasil e aprender as implicações práticas para o ambiente de trabalho. O método utilizado foi qualitativo, com 23 entrevistas em profundidade com expatriados italianos de nível médio ate top management, com experiência de trabalho no Brasil. Os resultados indicam que os expatriados Italianos experimentam dificuldades com as diferenças em termos de comunicação, distinção entre as esfera profissional e privada, distancia do poder e planejamento. Em contrapartida, outros fatores como a discriminação positiva para os estrangeiros, diferenças em geneder equality e masculinidade, assim como com a atitude positiva dos workplaces e uma economia em crescimento, todos influenciam de maneira positiva a experiência do expatriado. Enfim, algumas sugestões práticas sobre os efeitos das diferenças culturais e sobre a estruturação de um possível cross-cultural training são expostas.

The role of the BNDES in the Brazilian development financing: contributions from the paper “towards a legal theory of finance” of Katharina Pistor

This paper aims to verify the main contributions and adjustments that the paper “Towards a Legal Theory of Finance” from Katharina Pistor may bring to the role of the Brazilian National Bank for Economic and Social Development (BNDES) in the Brazilian development financing. In order to do so, I work with two questions in this paper: (i) such theory presents elements which allow analyzing the role of the BNDES and from there, if it is required, adjustments can be made in the governance of the BNDES? and (ii) there are academics and scholars that, together with the theory, also contribute with the improvement of the BNDES role in the development of Brazil?

Labor legislation and the size of informal sector in Brazil

This paper studies the increase in the rate of informal workers in the Brazilian economy that occurred between 1985 and 1999. We develop an overlapping generations model with incomplete markets in which agents are ex-post heterogeneous. We calibrate it to match some features of the Brazilian economy for 1985. We conduct a policy experiment which reproduces the 1988 constitution reforms that increased the retirement benefits and labor costs in the formal sector. We show that these reforms can explain the increase in informal labor. Then, we conduct a policy experiment and analyze its impact on the Brazilian economy.

Information asymmetry and competition in credit markets: the pricing of overdraft loans in Brazil

This paper evaluates how information asymmetry affects the strength of competition in credit markets. A theory is presented in which adverse selection softens competition by decreasing the incentives creditors have for competing in the interest rate dimension. In equilibirum, although creditors compete, the outcome is similar to collusion. Three empirical implications arise. First, interest rate should respond asymmetrically to changes in the cost of funds: increases in cost of funds should, on average, have a larger effect on interest rates than decreases. Second, aggressiveness in pricing should be associated with a worseing in the bank level default rates. Third, bank level default rates should be endogenous. We then verify the validity of these three empirical implications using Brazilian data on consumer overdraft loans. The results in this paper rationalize seemingly abnormallly high interest rates in unsecured loans.