The role of deposit insurance and bank’s asset size in the 2008 financial crisis

In this paper we analyze the role of deposit insurance in providing the market with liquidity in times of financial turmoil. To do so, we look at the variation in insured and uninsured deposits between 2005Q3 and 2011Q3, controlling for liquidity, solvency and capital adequacy indicators, and find evidence that deposit insurance does provide some confidence in keeping funds in banks in times of turmoil. Additionally we follow an event study methodology to assess the impact of deposit insurance oriented policies on bank holding companies stock market returns, and find a TBTF effect.

Mota-Engil new prospects of growth: Overcoming the financial crisis

The 2008 global financial crisis caused the collapse of business key sectors, declines in consumer wealth and a fall in economic activity resulting in a global recession. In some European countries, the 2008 crisis contributed to a sovereign-debt crisis which had a strong impact in Southern European countries. The construction sector was particularly affected, with budget cuts disturbing public investment and no financing available for private constructors. This report intends to explain how Mota-Engil, faced this situation of low growth, and which strategies were adopted by the management to overcome the difficult economic conjecture, mainly in its domestic market: Portugal. The report is organized as a case-study. The first part, the case narrative, is subdivided into 6 parts, and the second part is the teaching note. The teaching note is constituted by the four questions and their respective responses.

Consumer perception of CSR in Portugal: The aftermath of the financial crisis

Corporate social responsibility (CSR) literature has largely neglected consumers’ perceptions in the debate regarding the role of CSR in the aftermath of the financial crisis. In that context, this study aims to test the possibility that consumers’ perceptions of CSR level, firm reputation and brand trust, might depend on the type of industry sector of a firm, the level of fit of an initiative or both. By conducting a survey on Portuguese consumers and running a two-way analysis of variance, it suggests that solely the type of industry sector has an effect on consumer perception and that consumers are less tolerable of controversial industries.

Mental health and the crisis: Evidence from share

Mental health constitutes a significant share of the global burden of disease. It is shaped to a great extent by socioeconomic factors and is vulnerable to external shocks. The recent financial crisis brought about stressors prone to trigger and aggravate mental illnesses. This project presents a micro analysis of the effect of the economic crisis on mental health in eleven European countries, through the estimation of individual health production functions accounting for socioeconomic controls and macroeconomic indicators. We find that mental health has deteriorated since 2007, even though the development of depression episodes is unchanged. Additionally, his variation can be partially attributed to economic recession and budgetary cuts in health spending.

Health systems efficiency after the crisis in the OECD

This work evaluates the efficiency position of the health system of each OECD country. It identifies whether, or not, health systems changed in terms of quality and performance after the financial crisis. The health systems performance was calculated by fixed-effects estimator and by stochastic frontier analysis. The results suggest that many of those countries that the crisis affected the most are more efficient than the OECD average. In addition, some of those countries even managed to reach the top decile in the efficiency ranking. Finally, we analyze the stochastic frontier efficiency scores together with other health indicators to evaluate the health systems’ overall adjustments derived from the crisis.

Shiva's dance: Crisis, local institutions and private firms

The uneven spatial distribution of start-ups and their respective survival may reflect comparative advantages resulting from the local institutional background. For the first time, we explore this idea using Data Envelopment Analysis (DEA) to assess the relative efficiency of Portuguese municipalities in this specific context. We depart from the related literature where expenditure is perceived as a desirable input by choosing a measure of fiscal responsibility and infrastructural variables in the first stage. Comparing results for 2006 and 2010, we find that mean performance decreased substantially 1) with the effects of the Global Financial Crisis, 2) as municipal population increases and 3) as financial independence decreases. A second stage is then performed employing a double-bootstrap procedure to evaluate how the regional context outside the control of local authorities (e.g. demographic characteristics and political preferences) impacts on efficiency.

Severity of atopic dermatitis and Ascaris lumbricoides infection: an evaluation of CCR4+ and CXCR3+ helper T cell frequency

INTRODUCTION: Ascaris lumbricoides-infected patients present lower prevalence of severe atopic dermatitis. METHODS: Peripheral blood of infected children with atopic dermatitis was assessed by flow cytometry of the frequency of Th1 and Th2 cells through the expression of CXCR3 and CCR4 chemokine receptors, respectively. RESULTS: Helminth-free patients with atopic dermatitis presented a high frequency of CCR4+Th2 cells. Parasitized patients with atopic dermatitis showed a lower frequency of CXCR3+Th1 cells compared to infected individuals only. CONCLUSIONS: Ascariasis modifies the blood traffic of Th2 cells in atopic dermatitis patients, while the allergic disease down-regulates the traffic of Th1 cells in parasitized patients.

Plasmodium vivax malaria: related factors to severity in the State of Maranhão, Brazil

INTRODUCTION: Malaria caused by Plasmodium vivax species has shown signs of severity, recorded with increasing frequency in the medical literature. This study aimed to characterize the signs of severe malaria by Plasmodium vivax in the State of Maranhão, Brazil. METHODS: A descriptive cohort study of patients assisted in the field and a historical and concurrent study of a series of cases among hospitalized patients were undertaken to identify the clinical and laboratory signs of severity. RESULTS: A total of 153 patients were included in the study, 13 of whom were hospitalized. Males made up the majority, numbering 103 (67.3%). The age of the patients ranged from 10 to 70 years, 92.2% were natives of the State of Maranhão, and 65% of the patients had had malaria before. The average time elapsed between symptom onset and diagnosis among outpatients was three days, while among hospitalized patients this average reached 15.5 days, a statistically significant difference (p=0.001). The parasitemia ranged from 500 to 10,000 parasites/µl in 92.8% of cases. The clinical and laboratory manifestations of severity were vomiting and diarrhea, jaundice, drowsiness, mental confusion, seizures, loss of consciousness, agitation, bleeding, pale skin, coughing and dyspnea, thrombocytopenia, anemia, elevation of nitrogenous compounds, and elevated transaminases and bilirubin. CONCLUSIONS: The monitoring of malaria patients with Plasmodium vivax showed the possibility of aggravation, the intensity of which varied in different circumstances, especially the interval time between falling ill and diagnostic confirmation.

The effectiveness of the “Processo Especial de Revitalização” as an instrument of corporate restructuring in the context of the current economic crisis

This work project intends to evaluate the effectiveness of the Portuguese Government’s strategy to promote the orderly deleveraging of the corporate sector in the context of the current economic crisis. The recommendations of the Troika and the commitments assumed under the Memorandum of Understanding signed by the Government in 2011 required the creation of formal processes to avoid disorderly deleveraging. Conclusions and recommendations were drawn based on past experiences of large-scale corporate restructuring strategies in other countries and on the analysis of financial and statistical data on companies applying for “Programa Especial de Revitalização”.

Treatment and education reduce the severity of schistosomiasis periportal fibrosis

Introduction This study evaluates the factors associated with the development of severe periportal fibrosis in patients with Schistosoma mansoni. Methods A cross-sectional study was conducted from April to December 2012 involving 178 patients infected with S. mansoni who were treated in the Hospital das Clínicas of Pernambuco, Brazil. Information regarding risk factors was obtained using a questionnaire. Based on the patients' epidemiological history, clinical examination, and upper abdomen ultrasound evaluation, patients were divided into 2 groups: 137 with evidence of severe periportal fibrosis and 41 patients without fibrosis or with mild or moderate periportal fibrosis. Univariate and multivariate analyses were conducted using EpiInfo software version 3.5.5. Results Illiterate individuals (30.1%) and patients who had more frequent contact with contaminated water in towns in the Zona da Mata of Pernambuco (33.2%) were at greater risk for severe periportal fibrosis. Based on multivariate analysis, it was determined that an education level of up to 11 years of study and specific prior treatment for schistosomiasis were preventive factors for severe periportal fibrosis. Conclusions The prevailing sites of the severe forms of periportal fibrosis are still within the Zona da Mata of Pernambuco, although there has been an expansion to urban areas and the state coast. Specific treatment and an increased level of education were identified as protective factors, indicating the need for implementing social, sanitary, and health education interventions aimed at schistosomiasis to combat the risk factors for this major public health problem.

Evaluation of the World Health Organization 2009 classification of dengue severity in autopsied individuals, during the epidemics of 2011 and 2012 in Brazil

Abstract: INTRODUCTION: The dengue classification proposed by the World Health Organization (WHO) in 2009 is considered more sensitive than the classification proposed by the WHO in 1997. However, no study has assessed the ability of the WHO 2009 classification to identify dengue deaths among autopsied individuals suspected of having dengue. In the present study, we evaluated the ability of the WHO 2009 classification to identify dengue deaths among autopsied individuals suspected of having dengue in Northeast Brazil, where the disease is endemic. METHODS: This retrospective study included 121 autopsied individuals suspected of having dengue in Northeast Brazil during the epidemics of 2011 and 2012. All the autopsied individuals included in this study were confirmed to have dengue based on the findings of laboratory examinations. RESULTS: The median age of the autopsied individuals was 34 years (range, 1 month to 93 years), and 54.5% of the individuals were males. According to the WHO 1997 classification, 9.1% (11/121) of the cases were classified as dengue hemorrhagic fever (DHF) and 3.3% (4/121) as dengue shock syndrome. The remaining 87.6% (106/121) of the cases were classified as dengue with complications. According to the 2009 classification, 100% (121/121) of the cases were classified as severe dengue. The absence of plasma leakage (58.5%) and platelet counts <100,000/mm3 (47.2%) were the most frequent reasons for the inability to classify cases as DHF. CONCLUSIONS: The WHO 2009 classification is more sensitive than the WHO 1997 classification for identifying dengue deaths among autopsied individuals suspected of having dengue.

Impacto da crise no volume e perfil de internamento de doentes com VIH-SIDA em Portugal Continental : análise temporal 2001-2012

RESUMO - Contexto: O início da crise económica em Portugal no ano de 2009 colocou o país numa grave recessão económica aliada a diversas medidas de austeridade. Como consequência assistiu-se, ao nível nacional, uma diminuição do PIB, aumento do desemprego e assim como uma série de restrições orçamentais em várias áreas, nomeadamente a da saúde. Apesar de existir inúmeros estudos que avaliaram o impacto das recessões económicas na saúde os resultados são controversos e não existe um consenso quanto a esta associação. No que se refere às doenças infeciosas o número de estudos é bastante mais reduzido. O objetivo deste estudo foi o de analisar o impacto da crise atual no volume e perfil de internamento de doentes com VIH/SIDA, de forma a complementar a escassa evidência existente neste domínio. Metodologia: Foram analisados 53,296 episódios de internamento nos hospitais do SNS entre o ano de 2001 e 2012, cujo diagnóstico principal é a infeção pelo VIH/SIDA. Considerou-se o ano de 2009 como o ano inicial da crise. Através de regressões multivariadas avaliou-se o impacto da crise no volume de doentes internados, duração de internamento, número de co-morbilidades, risco de ser admitido via urgência e risco de mortalidade no internamento. Adicionalmente repetiu-se a análise por região NUTS II de Portugal Continental (Norte, Alentejo, LVT, Centro e Algarve). Resultados: A crise não teve impacto no volume de doentes internados. No entanto, após o ano de 2009, registou-se uma diminuição de 5.6% na duração de internamento; um aumento de 1.6% no número de co-morbilidades; um aumento de 11.1% no risco de ser admitido via urgência e um aumento de 8.6% do risco de mortalidade no internamento. As análises por região permitiram verificar que as regiões mais afetadas pela crise foram a região LVT e a região Norte. Conclusão: A crise em Portugal não teve impacto na incidência de internamentos por VIH/SIDA. Porém o aumento do número de co-morbilidades, do risco de ser admitido via urgência e do risco de mortalidade no internamento parece refletir um agravamento da severidade dos casos após o ano de 2009. Adicionalmente a diminuição da duração de internamento com o efeito da crise poderá refletir tanto aumento da eficiência dos cuidados prestados ou ao contrário, uma diminuição da sua qualidade.

History of Art and Art Criticism: A System in Crisis

This article aims to reconstruct the critical debate regarding the examination of the crisis in the disciplines of art history and criticism with a particular focus on the proposal formulated by U.S. theorists who contributed to October journal. The discrediting of many modernist critical methods, particularly that of Clement Greenberg – the formalist diktat – marked the birth of the journal and gave rise to proposals set forth by critics committed to a new approach. Their divergent positions, nonetheless, have contributed to undermining the traditional concepts of the autonomy of art and criticism. The proposals discussed over the course of publication were the result of a reappraisal of the disciplinary instruments of art history and criticism pursuant to the crucial cultural changes which took place in the 1980s.

Revolution in Crisis: The Ruptures of Revolution and Ruptured Revolutions Through the Ruptures of Artistic Practice

This article proposes an investigation of the history and memory of the Carnation Revolution through the lens of contemporary art. Drawing upon the argument according to which history and memory are investigated by visual artists by means other, but no less relevant, than those of professional historians, this article will argue for the importance of attending to the visual, auditory, textual, object- and research-based ways in which artists from several generations and geographies have been unearthing the repressed histories and memories of the Carnation Revolution in Portugal and of anticolonial struggles, decolonization and post-independence nation-building in Mozambique, Guinea-Bissau and Angola. The discussion focuses on several works by Ângela Ferreira, but attention will also be paid to precursors in imaging the Revolution, such as Ana Hatherly, and to a younger generation of artists such as Filipa César, Kiluanji Kia Henda and Daniel Barroca.